Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 01, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Guaranty Federal Bancshares Inc | |
Entity Central Index Key | 1,046,203 | |
Trading Symbol | gfed | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 4,451,723 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 5,222,458 | $ 4,094,694 |
Interest-bearing deposits in other financial institutions | 25,989,332 | 33,312,236 |
Cash and cash equivalents | 31,211,790 | 37,406,930 |
Available-for-sale securities | 85,605,143 | 81,478,673 |
Held-to-maturity securities | 12,722 | 16,457 |
Stock in Federal Home Loan Bank, at cost | 5,043,200 | 4,597,500 |
Mortgage loans held for sale | 961,654 | 1,921,819 |
Loans receivable, net of allowance for loan losses of September 30, 2018 - $7,731,707 - December 31, 2017 - $7,107,418 | 780,316,319 | 629,605,009 |
Accrued interest receivable | 3,403,810 | 2,449,847 |
Prepaid expenses and other assets | 7,518,208 | 3,846,686 |
Goodwill | 2,615,352 | |
Core deposit intangible | 3,205,714 | |
Foreclosed assets held for sale | 1,133,160 | 282,785 |
Premises and equipment, net | 22,158,095 | 10,607,094 |
Bank owned life insurance | 20,083,039 | 19,740,623 |
Deferred and income taxes receivable | 3,112,541 | 2,506,097 |
966,380,747 | 794,459,520 | |
LIABILITIES | ||
Deposits | 760,729,322 | 607,364,350 |
Federal Home Loan Bank advances | 96,700,000 | 94,300,000 |
Note payable to bank | 5,000,000 | |
Subordinated debentures | 21,782,794 | 15,465,000 |
Advances from borrowers for taxes and insurance | 730,438 | 180,269 |
Accrued expenses and other liabilities | 2,032,290 | 1,962,865 |
Accrued interest payable | 791,216 | 295,543 |
887,766,060 | 719,568,027 | |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY | ||
Common stock, $0.10 par value; authorized 10,000,000 shares; issued September 30, 2018 and December 31, 2017 - 6,895,503 and 6,878,503 shares; respectively | 689,550 | 687,850 |
Additional paid-in capital | 51,266,714 | 50,856,069 |
Retained earnings, substantially restricted | 64,025,061 | 60,679,308 |
Accumulated other comprehensive loss | (391,610) | (206,193) |
115,589,715 | 112,017,034 | |
Treasury stock, at cost; September 30, 2018 and December 31, 2017 - 2,443,780 and 2,453,728 shares, respectively | (36,975,028) | (37,125,541) |
78,614,687 | 74,891,493 | |
$ 966,380,747 | $ 794,459,520 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Loans receivable, allowance for loan losses | $ 7,731,707 | $ 7,107,418 |
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, issued (in shares) | 6,895,503 | 6,878,503 |
Treasury stock, shares (in shares) | 2,443,780 | 2,453,728 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest Income | ||||
Loans | $ 12,773,881 | $ 7,052,544 | $ 29,971,163 | $ 20,042,667 |
Investment securities | 523,736 | 431,560 | 1,466,036 | 1,361,069 |
Other | 80,258 | 41,083 | 276,117 | 134,361 |
13,377,875 | 7,525,187 | 31,713,316 | 21,538,097 | |
Interest Expense | ||||
Deposits | 1,825,559 | 893,197 | 4,967,743 | 2,261,752 |
FHLB advances | 481,968 | 419,918 | 1,221,312 | 1,269,543 |
Subordinated debentures | 282,393 | 160,075 | 728,954 | 467,665 |
Other | 58,949 | 62,782 | ||
2,648,869 | 1,473,190 | 6,980,791 | 3,998,960 | |
Net Interest Income | 10,729,006 | 6,051,997 | 24,732,525 | 17,539,137 |
Provision for loan losses | 200,000 | 450,000 | 925,000 | 1,500,000 |
Net Interest Income After Provision for Loan Losses | 10,529,006 | 5,601,997 | 23,807,525 | 16,039,137 |
Noninterest Income | ||||
Service charges | 475,484 | 311,070 | 1,344,661 | 869,102 |
Net gain (loss) on sale of investment securities | (885) | 11,199 | (8,090) | 73,473 |
Gain on sale of mortgage loans held for sale | 595,384 | 618,732 | 1,591,869 | 1,550,880 |
Gain on sale of Small Business Administration loans | 263,755 | 228,895 | 659,996 | 484,240 |
Net gain (loss) on foreclosed assets | (459,308) | 47,787 | (338,496) | 56,051 |
Other income | 587,328 | 353,186 | 1,484,669 | 1,133,548 |
1,461,758 | 1,570,869 | 4,734,609 | 4,167,294 | |
Noninterest Expense | ||||
Salaries and employee benefits | 3,887,582 | 3,052,417 | 11,162,747 | 8,844,836 |
Occupancy | 1,112,702 | 591,961 | 2,920,774 | 1,563,344 |
FDIC deposit insurance premiums | 101,762 | 63,522 | 296,897 | 176,011 |
Impairment on investment tax credits | 146,857 | 146,857 | ||
Data processing | 328,692 | 268,508 | 1,095,584 | 730,260 |
Advertising | 131,250 | 131,250 | 397,150 | 393,750 |
Merger costs | 150,877 | 3,570,927 | ||
Other expense | 952,984 | 757,317 | 2,920,262 | 2,144,310 |
6,665,849 | 5,011,832 | 22,364,341 | 13,999,368 | |
Income Before Income Taxes | 5,324,915 | 2,161,034 | 6,177,793 | 6,207,063 |
Provision for Income Taxes | 1,390,673 | 443,651 | 1,230,790 | 1,467,866 |
Net Income Available to Common Shareholders | $ 3,934,242 | $ 1,717,383 | $ 4,947,003 | $ 4,739,197 |
Basic Income Per Common Share (in dollars per share) | $ 0.89 | $ 0.39 | $ 1.12 | $ 1.08 |
Diluted Income Per Common Share (in dollars per share) | $ 0.88 | $ 0.39 | $ 1.10 | $ 1.07 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
NET INCOME | $ 3,934,242 | $ 1,717,383 | $ 4,947,003 | $ 4,739,197 |
OTHER ITEMS OF COMPREHENSIVE INCOME: | ||||
Change in unrealized gain (loss) on investment securities available-for-sale, before income taxes | (766,021) | (39,661) | (2,455,951) | 1,408,504 |
Change in unrealized gain (loss) on interest rate swaps, before income taxes | 430,248 | (76,222) | 2,198,977 | 151,420 |
Less: Reclassification adjustment for realized (gains) losses on investment securities included in net income, before income taxes | 885 | (11,199) | 8,090 | (73,473) |
Total other items of comprehensive income (loss) | (334,888) | (127,082) | (248,884) | 1,486,451 |
Income tax expense related to other items of comprehensive income (loss) | (85,397) | (47,022) | (63,467) | 549,986 |
Other comprehensive income (loss) | (249,491) | (80,060) | (185,417) | 936,465 |
TOTAL COMPREHENSIVE INCOME | $ 3,684,751 | $ 1,637,323 | $ 4,761,586 | $ 5,675,662 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2017 | $ 687,850 | $ 50,856,069 | $ (37,125,541) | $ 60,679,308 | $ (206,193) | $ 74,891,493 |
Net income | 4,947,003 | 4,947,003 | ||||
Other comprehensive income (loss) | (185,417) | (185,417) | ||||
Dividends on common stock ($0.36 per share) | (1,601,250) | (1,601,250) | ||||
Stock award plans | 125,878 | 150,513 | 276,391 | |||
Stock options exercised | 1,700 | 284,767 | 286,467 | |||
Balance at Sep. 30, 2018 | $ 689,550 | $ 51,266,714 | $ (36,975,028) | $ 64,025,061 | $ (391,610) | $ 78,614,687 |
Condensed Consolidated Statem_4
Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) | 9 Months Ended |
Sep. 30, 2018$ / shares | |
Retained Earnings [Member] | |
Dividends on common stock, per share (in dollars per share) | $ 0.36 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 4,947,003 | $ 4,739,197 |
Items not requiring (providing) cash: | ||
Deferred income taxes | 706,286 | (603,683) |
Depreciation | 1,096,490 | 791,473 |
Provision for loan losses | 925,000 | 1,500,000 |
Gain on sale of mortgage loans held for sale and investment securities | (1,583,779) | (1,624,353) |
Gain (loss) on sale of foreclosed assets | 308,811 | (119,157) |
Gain on sale of Small Business Administration Loans | (659,996) | (484,240) |
Amortization of deferred income, premiums and discounts | 453,575 | 728,144 |
Amortization of intangible assets | 314,286 | |
Accretion of purchase accounting adjustments | (3,282,074) | |
Stock award plan expense | 276,391 | 330,985 |
Origination of loans held for sale | (52,789,116) | (52,757,873) |
Proceeds from sale of loans held for sale | 55,341,150 | 53,975,866 |
Increase in cash surrender value of bank owned life insurance | (342,416) | (350,826) |
Changes in: | ||
Accrued interest receivable | (953,963) | (217,215) |
Prepaid expenses and other assets | 6,203,190 | 44,393 |
Accounts payable and accrued expenses | (1,441,136) | 529,150 |
Income taxes receivable | (8,972) | 232,186 |
Net cash provided by operating activities | 9,510,730 | 6,714,047 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds on sale of loans | 9,489,176 | 24,919,859 |
Net change in loans | (13,591,488) | (105,083,322) |
Principal payments on available-for-sale securities | 12,202,207 | 5,153,878 |
Principal payments on held-to-maturity securities | 3,735 | 9,104 |
Purchase of premises and equipment | (2,581,491) | (1,633,608) |
Net cash received for acquisition | 2,455,964 | |
Purchase of available-for-sale securities | (25,151,079) | (13,350,996) |
Proceeds from sale of available-for-sale securities | 13,602,508 | 18,388,216 |
Redemption (purchase) of Federal Home Loan Bank stock | (445,700) | 473,500 |
Purchase of tax credit investments | (3,617,366) | (1,214,781) |
Proceeds from sale of foreclosed assets held for sale | 187,468 | 2,433,660 |
Net cash used in investing activities | (7,446,066) | (69,904,490) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Cash dividends paid on common stock | (1,598,016) | (1,325,308) |
Net increase in demand deposits, NOW accounts and savings accounts | 69,132,414 | 50,768,740 |
Net increase (decrease) in certificates of deposit | (76,871,838) | 27,957,127 |
Proceeds from Federal Home Loan Bank advances | 470,835,000 | 333,700,000 |
Repayments of Federal Home Loan Bank and Federal Reserve advances | (470,435,000) | (346,600,000) |
Proceeds from issuance of notes payable | 5,000,000 | |
Repayment of notes payable | (3,000,000) | |
Net decrease of securities sold under agreements to repurchase | (2,159,000) | |
Advances from borrowers for taxes and insurance | 550,169 | 322,627 |
Stock options exercised | 286,467 | |
Net cash provided by (used in) financing activities | (8,259,804) | 64,823,186 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (6,195,140) | 1,632,743 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 37,406,930 | 9,088,441 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 31,211,790 | $ 10,721,184 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1: The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10 8 03 X. not These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Guaranty Federal Bancshares, Inc.’s (the “Company”) Annual Report on Form 10 December 31, 2017 ( “2017 not December 31, 2017, |
Note 2 - Principles of Consolid
Note 2 - Principles of Consolidation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 2: The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Guaranty Bank (the “Bank”). All significant intercompany transactions and balances have been eliminated in consolidation. |
Note 3 - Acquisition
Note 3 - Acquisition | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 3: On April 2, 2018, $20.00 $4.6 June 8, 2018. Including the effects of the acquisition method accounting adjustments, the Company acquired approximately $178.8 $143.9 $161.2 $2.6 two not A summary, at fair value, of the assets acquired and liabilities assumed in the Hometown transaction, as of acquisition date, is as follows: Guaranty Federal Bancshares, Inc. Net Assets Acquired from Hometown April 2, 2018 (In Thousands) Acquired from Fair Value Fair Hometown Adjustments Value Assets Acquired Cash and Due From Banks $ 7,083 $ - $ 7,083 Investment Securities 7,521 - 7,521 Loans 150,390 (6,471 ) 143,919 Allowance for Loan Losses (2,348 ) 2,348 - Net Loans 148,042 (4,123 ) 143,919 Fixed Assets 9,268 798 10,066 Foreclosed Assets held for sale 1,647 (400 ) 1,247 Core Deposit Intangible - 3,520 3,520 Other Assets 4,146 1,283 5,429 Total Assets Acquired $ 177,707 $ 1,078 $ 178,785 Liabilities Assumed Deposits 161,001 247 161,248 Federal Home Loan Bank advances 2,000 - 2,000 Securities Sold Under Agreements to Repurchase 2,159 - 2,159 Other borrowings 3,000 - 3,000 Subordinated debentures 6,186 176 6,362 Other Liabilities 2,003 - 2,003 Total Liabilities Assumed 176,349 $ 423 176,772 Stockholders' Equity Common Stock 231 (231 ) - Capital Surplus 18,936 (18,936 ) - Retained Earnings (17,587 ) 17,587 - Accumulated Other Comprehensive Loss (222 ) 222 - Treasury Stock - - - Total Stockholders' Equity Assumed 1,358 $ (1,358 ) - Total Liabilities and Stockholders' Equity Assumed $ 177,707 $ (935 ) $ 176,772 Net Assets Acquired $ 2,013 Purchase Price 4,628 Goodwill $ 2,615 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented in the acquisitions above. Cash and due from banks Investment securities Loans acquired not not Fixed assets Foreclosed assets held for sale Core deposit intangible Other assets Deposits F ederal H ome L oan B ank advances and Other borrowings Securities sold under agreement to repurchase Subordinated debentures Other liabilities Pro Forma Financial Information The results of operations of Hometown have been included in the Company’s consolidated financial statements since the acquisition date. The following schedule includes pro forma results (unaudited) for the three nine September 30, 2018 2017, Three months ended September 30, 2018 2017 (In Thousands, Except Per Share Data) Summary of Operations Net interest income $ 10,729 $ 7,597 Provision for loan losses 200 437 Net interest income after provision for loan losses 10,529 7,160 Non interest income 1,462 1,753 Non interest expense 6,666 6,898 Income before income taxes 5,325 2,015 Provision for income taxes 1,391 680 Net income $ 3,934 $ 1,335 Basic income per common share $ 0.89 $ 0.31 Diluted income per common share $ 0.88 $ 0.30 Nine months ended September 30, 2018 2017 (In Thousands, Except Per Share Data) Summary of Operations Net interest income $ 26,445 $ 22,792 Provision for loan losses 925 1,313 Net interest income after provision for loan losses 25,520 21,479 Non interest income 5,036 5,258 Non interest expense 24,391 20,693 Income before income taxes 6,165 6,044 Provision for income taxes 1,260 2,040 Net income $ 4,905 $ 4,004 Basic income per common share $ 1.12 $ 0.92 Diluted income per common share $ 1.10 $ 0.90 The pro forma information is presented for information purposes only and not $163,000 $313,000 three nine September 30, 2017, |
Note 4 - Securities
Note 4 - Securities | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4: The amortized cost and approximate fair values of securities classified as available-for-sale were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of September 30, 2018 Debt Securities: Municipals $ 34,569,371 $ 2,046 $ (1,231,864 ) $ 33,339,553 Corporates 3,000,000 - (17,024 ) 2,982,976 Government sponsored mortgage-backed securities and SBA loan pools 51,197,672 22,354 (1,937,412 ) 49,282,614 $ 88,767,043 $ 24,400 $ (3,186,300 ) $ 85,605,143 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2017 Debt Securities: Municipals $ 33,908,207 $ 253,872 $ (263,621 ) $ 33,898,458 Corporates 3,000,000 65,000 - 3,065,000 Government sponsored mortgage-backed securities and SBA loan pools 45,414,845 9,283 (908,913 ) 44,515,215 $ 82,323,052 $ 328,155 $ (1,172,534 ) $ 81,478,673 Maturities of available-for-sale debt securities as of September 30, 2018: Amortized Cost Approximate Fair Value Less than 1 year - - 1-5 years 430,889 428,979 6-10 years 11,928,256 11,601,504 After 10 years 25,210,226 24,292,046 Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date 51,197,672 49,282,614 $ 88,767,043 $ 85,605,143 The amortized cost and approximate fair values of securities classified as held to maturity are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of September 30, 2018 Debt Securities: Government sponsored mortgage-backed securities $ 12,722 $ 154 $ (71 ) $ 12,805 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2017 Debt Securities: Government sponsored mortgage-backed securities $ 16,457 $ 327 $ (55 ) $ 16,729 Maturities of held-to-maturity securities as of September 30, 2018: Amortized Cost Approximate Fair Value Government sponsored mortgage-backed securities not due on a single maturity date $ 12,722 $ 12,805 The book value of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $29,466,642 $35,774,863 September 30, 2018 December 31, 2017, $28,493,596 $35,355,969 September 30, 2018 December 31, 2017, Realized gains and losses are recorded as net securities gains. Gains on sales of securities are determined on the specific identification method. Gross gains (losses) of ( $8,090 $73,473 September 30, 2018 September 30, 2017, $2,063 $27,185 September 30, 2018 September 30, 2017, The Company evaluates all securities quarterly to determine if any unrealized losses are deemed to be other than temporary. Certain investment securities are valued at less than their historical cost. These declines are primarily the result of the rate for these investments yielding less than current market rates, or declines in stock prices of equity securities. Based on evaluation of available evidence, management believes the declines in fair value for these securities are temporary. It is management’s intent to hold the debt securities to maturity or until recovery of the unrealized loss. Should the impairment of any of these debt securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified, to the extent the loss is related to credit issues, and to other comprehensive income to the extent the decline on debt securities is related to other factors and the Company does not Certain other investments in debt and equity securities are reported in the financial statements at an amount less than their historical cost. Total fair value of these investments at September 30, 2018 December 31, 2017, $80,223,968 $62,107,660, 94% 76% The following table shows gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2018 December 31, 2017. September 30, 2018 Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporates $ 2,982,976 $ (17,024 ) $ - $ - $ 2,982,976 $ (17,024 ) Municipals 15,318,000 (360,210 ) 16,854,043 (871,654 ) 32,172,043 (1,231,864 ) Government sponsored mortgage-backed securities and SBA loan pools 13,890,846 (324,934 ) 31,178,103 (1,612,549 ) 45,068,949 (1,937,483 ) $ 32,191,822 $ (702,168 ) $ 48,032,146 $ (2,484,203 ) $ 80,223,968 $ (3,186,371 ) December 31, 2017 Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Municipals $ 11,024,593 $ (103,747 ) $ 8,802,796 $ (159,874 ) $ 19,827,389 $ (263,621 ) Government sponsored mortgage-backed securities and SBA loan pools 20,088,694 (253,907 ) 22,191,577 (655,006 ) 42,280,271 (908,913 ) $ 31,113,287 $ (357,654 ) $ 30,994,373 $ (814,880 ) $ 62,107,660 $ (1,172,534 ) |
Note 5 - Loans and Allowance fo
Note 5 - Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5: Categories of loans at September 30, 2018 December 31, 2017 September 30, December 31, 2018 2017 Real estate - residential mortgage: One to four family units $ 135,292,752 $ 106,300,790 Multi-family 93,320,376 85,225,074 Real estate - construction 90,819,134 64,743,582 Real estate - commercial 313,283,043 261,866,285 Commercial loans 122,288,207 94,522,840 Consumer and other loans 33,745,549 24,716,447 Total loans 788,749,061 637,375,018 Less: Allowance for loan losses (7,731,707 ) (7,107,418 ) Deferred loan fees/costs, net (701,035 ) (662,591 ) Net loans $ 780,316,319 $ 629,605,009 Classes of loans by aging at September 30, 2018 December 31, 2017 As of September 30, 2018 30-59 Days 60-89 Days 90 Days and more Past Due Total Past Current Total Loans Total Loans > (In Thousands) Real estate - residential mortgage: One to four family units $ 68 $ 181 $ 2,238 $ 2,487 $ 132,806 $ 135,293 $ - Multi-family - 5,990 - 5,990 87,330 93,320 - Real estate - construction 323 - - 323 90,496 90,819 - Real estate - commercial 2,667 1,054 698 4,419 308,864 313,283 - Commercial loans 1,386 73 212 1,671 120,617 122,288 - Consumer and other loans 909 9 7 925 32,821 33,746 - Total $ 5,353 $ 7,307 $ 3,155 $ 15,815 $ 772,934 $ 788,749 $ - As of December 31, 2017 30-59 Days 60-89 Days 90 Days and more Past Due Total Past Current Total Loans Total Loans > (In Thousands) Real estate - residential mortgage: One to four family units $ 510 $ 731 $ 2,495 $ 3,736 $ 102,565 $ 106,301 $ - Multi-family 775 - - 775 84,450 85,225 - Real estate - construction - - - - 64,744 64,744 - Real estate - commercial 243 135 - 378 261,488 261,866 - Commercial loans 276 - 588 864 93,659 94,523 - Consumer and other loans 8 8 - 16 24,700 24,716 - Total $ 1,812 $ 874 $ 3,083 $ 5,769 $ 631,606 $ 637,375 $ - At September 30, 2018, $2,015,591 30 59 $560,683 60 89 $387,003 90 Nonaccruing loans are summarized as follows: September 30, December 31, 2018 2017 Real estate - residential mortgage: One to four family units $ 4,407,862 $ 4,423,074 Multi-family - - Real estate - construction 4,179,409 4,452,409 Real estate - commercial 4,212,886 161,491 Commercial loans 1,167,417 802,628 Consumer and other loans 16,561 121,915 Total $ 13,984,135 $ 9,961,517 At September 30, 2018, $3.0 The following tables present the activity in the allowance for loan losses based on portfolio segment for the three nine September 30, 2018 2017: Three months ended September 30, 2018 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 2,484 $ 1,787 $ 1,237 $ 553 $ 1,085 $ 367 $ 60 $ 7,573 Provision charged to expense (219 ) 158 96 97 (44 ) 65 47 $ 200 Losses charged off - - (3 ) - (14 ) (74 ) - $ (91 ) Recoveries 36 - 1 - 4 9 - $ 50 Balance, end of period $ 2,301 $ 1,945 $ 1,331 $ 650 $ 1,031 $ 367 $ 107 $ 7,732 Nine months ended September 30, 2018 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 2,244 $ 1,789 $ 946 $ 464 $ 1,031 $ 454 $ 179 $ 7,107 Provision charged to expense (13 ) 155 386 186 98 185 (72 ) $ 925 Losses charged off - - (3 ) - (110 ) (301 ) - $ (414 ) Recoveries 70 1 2 - 12 29 - $ 114 Balance, end of period $ 2,301 $ 1,945 $ 1,331 $ 650 $ 1,031 $ 367 $ 107 $ 7,732 Three months ended September 30, 2017 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 1,739 $ 1,954 $ 936 $ 323 $ 1,226 $ 335 $ 127 $ 6,640 Provision charged to expense 524 (116 ) (81 ) 52 (99 ) 126 44 $ 450 Losses charged off - (71 ) - - - (46 ) - $ (117 ) Recoveries 16 - 1 - 7 12 - $ 36 Balance, end of period $ 2,279 $ 1,767 $ 856 $ 375 $ 1,134 $ 427 $ 171 $ 7,009 Nine months ended September 30, 2017 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 1,377 $ 1,687 $ 856 $ 206 $ 1,168 $ 337 $ 111 $ 5,742 Provision charged to expense 847 151 2 169 40 231 60 $ 1,500 Losses charged off - (71 ) (11 ) - (85 ) (169 ) - $ (336 ) Recoveries 55 - 9 - 11 28 - $ 103 Balance, end of period $ 2,279 $ 1,767 $ 856 $ 375 $ 1,134 $ 427 $ 171 $ 7,009 The following tables present the recorded investment in loans based on portfolio segment and impairment method as of September 30, 2018 December 31, 2017: As of September 30, 2018 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: Ending balance: individually evaluated for impairment $ 552 $ 51 $ 606 $ - $ 231 $ 26 $ - $ 1,466 Ending balance: collectively evaluated for impairment $ 1,749 $ 1,894 $ 725 $ 650 $ 800 $ 341 $ 107 $ 6,266 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - $ - Loans: Ending balance: individually evaluated for impairment $ 4,180 $ 922 $ 4,405 $ 5,990 $ 863 $ 153 $ - $ 16,513 Ending balance: collectively evaluated for impairment $ 86,639 $ 309,488 $ 130,888 $ 87,330 $ 121,382 $ 33,145 $ - $ 768,872 Ending balance: loans acquired with deteriorated credit quality $ - $ 2,873 $ - $ - $ 43 $ 448 $ - $ 3,364 December 31, 2017 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: Ending balance: individually evaluated for impairment $ 738 $ - $ 127 $ - $ 246 $ 138 $ - $ 1,249 Ending balance: collectively evaluated for impairment $ 1,506 $ 1,789 $ 819 $ 464 $ 785 $ 316 $ 179 $ 5,858 Loans: Ending balance: individually evaluated for impairment $ 4,452 $ 161 $ 4,424 $ 775 $ 739 $ 276 $ - $ 10,827 Ending balance: collectively evaluated for impairment $ 60,292 $ 261,705 $ 101,877 $ 84,450 $ 93,784 $ 24,440 $ - $ 626,548 The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows or collateral value of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and expected loss given default derived from the Bank’s internal risk rating process. Other adjustments may not Included in the Company’s loan portfolio are certain loans acquired in accordance with ASC 310 30, 310 30 A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not Groups of loans with similar risk characteristics are collectively evaluated for impairment based on the group’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. The following table summarizes the recorded investment in impaired loans at September 30, 2018 December 31, 2017: September 30, 2018 December 31, 2017 Recorded Unpaid Specific Recorded Unpaid Specific (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 836 $ 836 $ - $ 3,180 $ 3,180 $ - Multi-family - - - 775 775 - Real estate - construction - - - 2,840 2,840 - Real estate - commercial 3,549 3,549 - 161 161 - Commercial loans 242 242 - 465 465 - Consumer and other loans 457 457 - 3 3 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 3,569 $ 3,569 $ 606 $ 1,244 $ 1,244 $ 127 Multi-family 5,990 5,990 - - - - Real estate - construction 4,180 5,413 552 1,612 2,845 738 Real estate - commercial 246 246 51 - - - Commercial loans 664 664 231 274 274 246 Consumer and other loans 144 144 26 273 273 138 Total Real estate - residential mortgage: One to four family units $ 4,405 $ 4,405 $ 606 $ 4,424 $ 4,424 $ 127 Multi-family 5,990 5,990 - 775 775 - Real estate - construction 4,180 5,413 552 4,452 5,685 738 Real estate - commercial 3,795 3,795 51 161 161 - Commercial loans 906 906 231 739 739 246 Consumer and other loans 601 601 26 276 276 138 Total $ 19,877 $ 21,110 $ 1,466 $ 10,827 $ 12,060 $ 1,249 The above amounts include purchased credit impaired loans. At September 30, 2018, $3.4 The following table summarizes average impaired loans and related interest recognized on impaired loans for the three nine September 30, 2018 2017: For the Three Months Ended For the Three Months Ended September 30, 2018 September 30, 2017 Average Interest Average Interest (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 1,025 $ - $ 1,946 $ - Multi-family 2,001 25 - - Real estate - construction - - 2,937 - Real estate - commercial 2,496 - 161 - Commercial loans 143 - 504 - Consumer and other loans 93 - 2 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 3,308 $ - $ 183 $ - Multi-family 1,997 - - - Real estate - construction 4,212 - 2,373 - Real estate - commercial 190 - - - Commercial loans 566 - 431 - Consumer and other loans 84 - 123 - Total Real estate - residential mortgage: One to four family units $ 4,333 $ - $ 2,129 $ - Multi-family 3,998 25 - - Real estate - construction 4,212 - 5,310 - Real estate - commercial 2,686 - 161 - Commercial loans 709 - 935 - Consumer and other loans 177 - 125 - Total $ 16,115 $ 25 $ 8,660 $ - For the Nine Months Ended For the Nine Months Ended September 30, 2018 September 30, 2017 Average Interest Average Interest (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 1,649 $ - $ 1,886 $ - Multi-family 1,006 25 - - Real estate - construction 1,525 - 2,964 - Real estate - commercial 2,383 46 360 - Commercial loans 658 - 557 - Consumer and other loans 37 - 8 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 2,671 $ - $ 90 $ - Multi-family 666 - - - Real estate - construction 2,774 - 2,395 - Real estate - commercial 81 - - - Commercial loans 457 - 481 - Consumer and other loans 116 - 94 - Total Real estate - residential mortgage: One to four family units $ 4,320 $ - $ 1,976 $ - Multi-family 1,672 25 - - Real estate - construction 4,299 - 5,359 - Real estate - commercial 2,464 46 360 - Commercial loans 1,115 - 1,038 - Consumer and other loans 153 - 102 - Total $ 14,023 $ 71 $ 8,835 $ - At September 30, 2018, In assessing whether or not not The Bank considers all aspects of the modification to loan terms to determine whether or not one The following table summarizes, by class, loans that were newly classified as TDRs for the three September 30, 2018: Number of Loans Pre-Modification Post-Modification Real estate - residential mortgage: One to four family units - $ - $ - Multi-family - - - Real estate - construction - - - Real estate - commercial - - - Commercial loans 3 225,046 225,046 Consumer and other loans - - - Total 3 $ 225,046 $ 225,046 The following table summarizes, by type of concession, loans that were newly classified as TDRs for the three September 30, 2018: Interest Rate Term Combination Total Modification Real estate - residential mortgage: One to four family units $ - $ - $ - $ - Multi-family - - - - Real estate - construction - - - - Real estate - commercial - - - - Commercial loans - 30,130 194,916 225,046 Consumer and other loans - - - - Total $ - $ 30,130 $ 194,916 $ 225,046 The following table presents the carrying balance of TDRs as of September 30, 2018 December 31, 2017: September 30, 2018 December 31, 2017 Real estate - residential mortgage: One to four family units $ 1,219,575 $ 1,290,462 Multi-family - - Real estate - construction 4,179,409 4,452,409 Real estate - commercial 5,551,695 5,666,096 Commercial loans 748,827 214,529 Consumer and other loans - 118,855 Total $ 11,699,506 $ 11,742,351 The Bank has allocated $877,637 $372,321 September 30, 2018 December 31, 2017, There were no twelve three nine September 30, 2018 2017. 90 As part of the on-going monitoring of the credit quality of the Bank’s loan portfolio, management tracks loans by an internal rating system. All loans are assigned an internal credit quality rating based on an analysis of the borrower’s financial condition. The criteria used to assign quality ratings to extensions of credit that exhibit potential problems or well-defined weaknesses are primarily based upon the degree of risk and the likelihood of orderly repayment, and their effect on the Bank’s safety and soundness. The following are the internally assigned ratings: Pass: This rating represents loans that have strong asset quality and liquidity along with a multi-year track record of profitability. Special mention: This rating represents loans that are currently protected but are potentially weak. The credit risk may Substandard: This rating represents loans that show signs of continuing negative financial trends and unprofitability and therefore, is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Doubtful: This rating represents loans that have all the weaknesses of substandard classified loans with the additional characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Risk characteristics applicable to each segment of the loan portfolio are described as follows. Real estate-Residential 1 4 1 4 1 4 Real estate-Construction: Construction and land development real estate loans are usually based upon estimates of costs and estimated value of the completed project and include independent appraisal reviews and a financial analysis of the developers and property owners. Sources of repayment of these loans may may Real estate-Commercial: Commercial real estate loans typically involve larger principal amounts, and repayment of these loans is generally dependent on the successful operations of the property securing the loan or the business conducted on the property securing the loan. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Credit risk in these loans may Commercial: The commercial portfolio includes loans to commercial customers for use in financing working capital needs, equipment purchases and expansions. The loans in this category are repaid primarily from the cash flow of a borrower’s principal business operation. Credit risk in these loans is driven by creditworthiness of a borrower and the economic conditions that impact the cash flow stability from business operations. Consumer: The consumer loan portfolio consists of various term and line of credit loans such as automobile loans and loans for other personal purposes. Repayment for these types of loans will come from a borrower’s income sources that are typically independent of the loan purpose. Credit risk is driven by consumer economic factors (such as unemployment and general economic conditions in the Bank’s market area) and the creditworthiness of a borrower. The following tables provide information about the credit quality of the loan portfolio using the Bank’s internal rating system as of September 30, 2018 December 31, 2017: September 30, 2018 Construction Commercial One to four family Multi-family Commercial Consumer Total (In Thousands) Rating: Pass $ 86,547 $ 299,714 $ 128,506 $ 87,330 $ 118,593 $ 33,193 $ 753,883 Special Mention - 5,574 1,095 - 2,238 - 8,907 Substandard 4,272 7,995 5,692 5,990 1,457 553 25,959 Doubtful - - - - - - - Total $ 90,819 $ 313,283 $ 135,293 $ 93,320 $ 122,288 $ 33,746 $ 788,749 December 31, 2017 Construction Commercial One to four family Multi-family Commercial Consumer Total (In Thousands) Rating: Pass $ 60,291 $ 254,658 $ 96,723 $ 84,450 $ 93,102 $ 24,440 $ 613,664 Special Mention - 5,578 3,799 - 200 - 9,577 Substandard 4,453 1,630 5,779 775 708 276 13,621 Doubtful - - - - 513 - 513 Total $ 64,744 $ 261,866 $ 106,301 $ 85,225 $ 94,523 $ 24,716 $ 637,375 The above amounts include purchased credit impaired loans. At September 30, 2018, $3.4 For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees net of certain direct origination costs, are deferred and amortized as a level yield adjustment over the respective term of the loan. The accrual of interest on loans is discontinued at the time the loan is 90 All interest accrued but not |
Note 6 - Accounting for Certain
Note 6 - Accounting for Certain Loans Acquired | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Accounting for Certain Loans and Debt Securities Acquired in Transfer Disclosure [Text Block] | Note 6: The Company acquired loans during the quarter ended June 30, 2018. not Loans purchased with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not may 310 30 not three September 30, 2018, $4.3 $1.8 The carrying amount of purchased credit impaired loans are included in the balance sheet amounts of loans receivable at September 30, 2018. September 30, 2018 (In Thousands) Real estate - commercial $ 3,491 Commercial loans 50 Consumer and other loans 680 Outstanding balance $ 4,221 Carrying amount, net of fair value adjustment of $857 at September 30, 2018 $ 3,364 Changes in the carrying amount of the accretable yield for all purchased credit impaired loans were as follows for the three nine September 30, 2018: Three months ended Nine months ended September 30, September 30, 2018 2018 (In Thousands) (In Thousands) Balance at beginning of period $ 204 $ 238 Additions - - Accretion (1,724 ) (1,758 ) Reclassification from nonaccretable difference 1,554 1,554 Disposals - - Balance at end of period $ 34 $ 34 During the three nine September 30, 2018, not |
Note 7 - Goodwill and Other Int
Note 7 - Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7: The Company recorded $2.6 2018 not three September 30, 2018. Goodwill is tested annually, or more often if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not $2.6 September 30, 2018. Core deposit premiums are amortized over a seven $3.5 second 2018 The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) at September 30, 2018 September 30, 2018 (In Thousands) Goodwill $ 2,615 Core deposit intangible: Gross carrying amount 3,520 Accumulated amortization (314 ) Core deposit intangible, net 3,206 Outstanding balance $ 5,821 The Company’s estimated remaining amortization expense on intangibles as of September 30, 2018 Amortizaton Expense (In Thousands) Remainder of 2018 $ 94 2019 377 2020 377 2021 377 2022 377 2023 377 Thereafter 1,227 Total $ 3,206 |
Note 8 - Benefit Plans
Note 8 - Benefit Plans | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 8: The Company has stock-based employee compensation plans, which are described in the Company’s 2017 The following tables below summarize transactions under the Company’s equity plans for the nine September 30, 2018: Stock Options Number of shares Incentive Stock Option Non- Incentive Stock Option Weighted Average Exercise Price Balance outstanding as of January 1, 2018 46,000 25,000 $ 15.74 Granted - - - Exercised (12,000 ) (5,000 ) 7.78 Forfeited (20,000 ) (10,000 ) 28.71 Balance outstanding as of September 30, 2018 14,000 10,000 $ 5.16 Options exercisable as of September 30, 2018 14,000 10,000 $ 5.16 The total intrinsic value of stock options exercised for the nine September 30, 2018 2017 $267,366 $0, $452,100 $669,800 September 30, 2018 2017, Number of Shares Weighted Average Grant- Date Fair Value Balance of shares non-vested as of January 1, 2018 45,550 $ 16.44 Granted 12,838 22.41 Vested (25,063 ) 16.31 Forfeited - - Balance of shares non-vested as of September 30, 2018 33,325 $ 18.83 In February 2018, 5,852 2015 one $22.41 nine September 30, 2018 2017 $103,926 $101,099, For the nine September 30, 2018 2017, 6,986 6,426 three nine September 30, 2018 2017 $135,810 $159,413, Performance Stock Units Performance Stock Units Weighted Average Grant- Date Fair Value Balance of shares non-vested as of January 1, 2018 55,823 $ 20.48 Granted - - Vested - - Forfeited - - Balance of shares non-vested as of September 30, 2018 55,823 $ 20.48 On March 29, 2017, 55,823 three 25% 50% 100% two March 29, 2017 December 31, 2019 ( two 50% 50% $20.48 nine September 30, 2018 2017 $253,513 $102,529, Total stock-based compensation expense recognized for the three September 30, 2018 2017 $159,115 $136,263, nine September 30, 2018 2017 $493,249 $363,041, September 30, 2018, $712,949 |
Note 9 - Income Per Common Shar
Note 9 - Income Per Common Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 9: For three months ended September 30, 2018 For nine months ended September 30, 2018 Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Basic Income Per Common Share $ 3,934,242 4,418,196 $ 0.89 $ 4,947,003 4,406,830 $ 1.12 Effect of Dilutive Securities 72,389 72,058 Diluted Income Per Common Share $ 3,934,242 4,490,585 $ 0.88 $ 4,947,003 4,478,888 $ 1.10 For three months ended September 30, 2017 For nine months ended September 30, 2017 Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Basic Income Per Common Share $ 1,717,383 4,374,725 $ 0.39 $ 4,739,197 4,370,877 $ 1.08 Effect of Dilutive Securities 72,841 64,815 Diluted Income Per Common Share $ 1,717,383 4,447,566 $ 0.39 $ 4,739,197 4,435,692 $ 1.07 Stock options to purchase 32,500 three nine September 30, 2017 not |
Note 10 - New Accounting Pronou
Note 10 - New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 10: In May 2014, 2014 09, 606 Revenue from Contracts with Customers 2014 09” 2014 09 not December 15, 2016, 2015 14 Revenue from Contracts with Customers (Topic 606 2014 09 one December 15, 2017. not 2014 09 first 2018 606 no not not Descriptions of our significant revenue-generating transactions that are within the scope of the new revenue recognition standards, which are presented in the consolidated statements of comprehensive income as components of non-interest income, are as follows: ● Service Charges on Deposit Accounts – ● Gains/Losses on Sales of OREO – In January 2016, 2016 01, 825 10 Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01” 2016 01 2016 01 2016 01 December 15, 2017. 2016 01 January 1, 2018 not 9 In February 2016, 2016 02, Leases 2016 02” 2016 02 12 2016 02 December 15, 2018, 2016 02 not In June 2016, 2016 13, 326 Measurement of Credit Losses on Financial Instruments December 15, 2019, December 15, 2018. 2016 13. third In August 2016, 2016 15, 230 Classification of Certain Cash Receipts and Cash Payments. eight December 15, 2017. 2016 15 not In May 2017, 2017 09, 718 Scope of Modification Accounting. 2017 09 not 2017 09 December 15, 2017. 2017 09 January 1, 2018 not In August 2017, 2017 12, 815 Targeted I mprovements to A ccounting for H edging A ctivities. December 15, 2018, not In February 2018, 2018 02, 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income December 15, 2018, 2018 02 $31,818 December 31, 2017. December 31, 2017. In August 2018, 2018 13, 820 Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. 1 2, 3 1 3 2 3 December 15, 2019, January 1, 2020 not |
Note 11 - Derivative Financial
Note 11 - Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 11: The Company records all derivative financial instruments at fair value in the financial statements. Derivatives are used as a risk management tool to hedge the exposure to changes in interest rates or other identified market risks. When a derivative is intended to be a qualifying hedged instrument, the Company prepares written hedge documentation that designates the derivative as 1 2 In June 2017, $50 September 30, 2018, $1,995,892 $683,158 September 30, 2018, no A summary of the Company’s derivative financial instruments at September 30, 2018 Forward Start Termination Derivative Notional Rate Rate Estimated Fair Value 2/28/2018 2/28/2025 Interest rate swap $ 50,000,000 2.12 % 3 month LIBOR Floating $ 2,679,050 |
Note 12 - Disclosures About Fai
Note 12 - Disclosures About Fair Value of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 12: ASC Topic 820, Fair Value Measurements 820 three may Level 1 Level 2 1 not Level 3 no The following is a description of the inputs and valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying condensed consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Available-for-sale securities: 1 1 not may one two 2 2 no 3 Derivative financial instruments (Cash flow hedge) : 2 third The following table presents the fair value measurements of assets recognized in the accompanying condensed consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2018 December 31, 2017 ( 9/30/2018 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Debt securities: Municipals $ - $ 33,339 $ - $ 33,339 Corporates - 2,983 - 2,983 Government sponsored mortgage-backed securities and SBA loan pools - 49,283 - 49,283 Available-for-sale securities $ - $ 85,605 $ - $ 85,605 Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Interest rate swaps $ - $ 2,679 $ - $ 2,679 12/31/2017 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Debt securities: Municipals $ - $ 33,898 $ - $ 33,898 Corporates - 3,065 - 3,065 Government sponsored mortgage-backed securities and SBA loan pools - 44,515 - 44,515 Available-for-sale securities $ - $ 81,478 $ - $ 81,478 Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Interest rate swaps $ - $ 568 $ - $ 568 The following is a description of the valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying statements of financial condition, as well as the general classification of such assets pursuant to the valuation hierarchy. Foreclosed Assets Held for Sale : 3 Impaired loans (Collateral Dependent) : not If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Impaired loans that are collateral dependent are classified within Level 3 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 fall at September 30, 2018 December 31, 2017 ( Impaired loans: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value September 30, 2018 $ - $ - $ 9,574 $ 9,574 December 31, 2017 $ - $ - $ 2,224 $ 2,224 Foreclosed assets held for sale: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value September 30, 2018 $ - $ - $ 976 $ 976 December 31, 2017 $ - $ - $ - $ - There were no nine September 30, 2018 2017. The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 Fair Value Valuation Technique Unobservable Input Range Impaired loans (collateral dependent) $ 9,574 Market Comparable Discount to reflect realizable value 0% - 100% (5%) Foreclosed assets held for sale $ 976 Market Comparable Discount to reflect realizable value N/A The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying condensed consolidated balance sheets at amounts other than fair value. Cash and cash equivalents, interest-bearing deposits and Federal Home Loan Bank stock The carrying amounts reported in the condensed consolidated balance sheets approximate those assets' fair value. Held-to-maturity securities Fair value is based on quoted market prices, if available. If a quoted market price is not Loans For September 30, 2018, December 31, 2017, Deposits Deposits include demand deposits, savings accounts, NOW accounts and certain money market deposits. The carrying amount approximates fair value. The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using rates currently offered for deposits of similar remaining maturities. Federal Home Loan Bank advances The fair value of advances is estimated by using rates on debt with similar terms and remaining maturities. Subordinated debentures For these variable rate instruments, the carrying amount is a reasonable estimate of fair value. There is currently a limited market for similar debt instruments and the Company has the option to call the subordinated debentures at an amount close to its par value. Interest payable The carrying amount approximates fair value. Commitments to originate loans, letters of credit and lines of credit The fair value of commitments to originate loans is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit worthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. The following tables present estimated fair values of the Company’s financial instruments at September 30, 2018 December 31, 2017. September 30, 2018 Carrying Amount Fair Value Hierarchy Financial assets: Cash and cash equivalents $ 31,211,790 $ 31,211,790 1 Held-to-maturity securities 12,722 12,805 2 Federal Home Loan Bank stock 5,043,200 5,043,200 2 Mortgage loans held for sale 961,654 961,654 2 Loans, net 780,316,319 775,577,411 3 Interest receivable 3,403,810 3,403,810 2 Financial liabilities: Deposits 760,729,322 758,855,539 2 Federal Home Loan Bank advances 96,700,000 96,728,237 2 Subordinated debentures 21,782,794 21,782,794 3 Notes payable 5,000,000 5,000,000 2 Interest payable 791,216 791,216 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - December 31, 2017 Carrying Amount Fair Value Hierarchy Financial assets: Cash and cash equivalents $ 37,406,930 $ 37,406,930 1 Held-to-maturity securities 16,457 16,729 2 Federal Home Loan Bank stock 4,597,500 4,597,500 2 Mortgage loans held for sale 1,921,819 1,921,819 2 Loans, net 629,605,009 627,498,508 3 Interest receivable 2,449,847 2,449,847 2 Financial liabilities: Deposits 607,364,350 606,548,280 2 Federal Home Loan Bank advances 94,300,000 94,417,733 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 295,543 295,543 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - |
Note 3 - Acquisition (Tables)
Note 3 - Acquisition (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Acquired from Fair Value Fair Hometown Adjustments Value Assets Acquired Cash and Due From Banks $ 7,083 $ - $ 7,083 Investment Securities 7,521 - 7,521 Loans 150,390 (6,471 ) 143,919 Allowance for Loan Losses (2,348 ) 2,348 - Net Loans 148,042 (4,123 ) 143,919 Fixed Assets 9,268 798 10,066 Foreclosed Assets held for sale 1,647 (400 ) 1,247 Core Deposit Intangible - 3,520 3,520 Other Assets 4,146 1,283 5,429 Total Assets Acquired $ 177,707 $ 1,078 $ 178,785 Liabilities Assumed Deposits 161,001 247 161,248 Federal Home Loan Bank advances 2,000 - 2,000 Securities Sold Under Agreements to Repurchase 2,159 - 2,159 Other borrowings 3,000 - 3,000 Subordinated debentures 6,186 176 6,362 Other Liabilities 2,003 - 2,003 Total Liabilities Assumed 176,349 $ 423 176,772 Stockholders' Equity Common Stock 231 (231 ) - Capital Surplus 18,936 (18,936 ) - Retained Earnings (17,587 ) 17,587 - Accumulated Other Comprehensive Loss (222 ) 222 - Treasury Stock - - - Total Stockholders' Equity Assumed 1,358 $ (1,358 ) - Total Liabilities and Stockholders' Equity Assumed $ 177,707 $ (935 ) $ 176,772 Net Assets Acquired $ 2,013 Purchase Price 4,628 Goodwill $ 2,615 |
Business Acquisition, Pro Forma Information [Table Text Block] | Three months ended September 30, 2018 2017 (In Thousands, Except Per Share Data) Summary of Operations Net interest income $ 10,729 $ 7,597 Provision for loan losses 200 437 Net interest income after provision for loan losses 10,529 7,160 Non interest income 1,462 1,753 Non interest expense 6,666 6,898 Income before income taxes 5,325 2,015 Provision for income taxes 1,391 680 Net income $ 3,934 $ 1,335 Basic income per common share $ 0.89 $ 0.31 Diluted income per common share $ 0.88 $ 0.30 Nine months ended September 30, 2018 2017 (In Thousands, Except Per Share Data) Summary of Operations Net interest income $ 26,445 $ 22,792 Provision for loan losses 925 1,313 Net interest income after provision for loan losses 25,520 21,479 Non interest income 5,036 5,258 Non interest expense 24,391 20,693 Income before income taxes 6,165 6,044 Provision for income taxes 1,260 2,040 Net income $ 4,905 $ 4,004 Basic income per common share $ 1.12 $ 0.92 Diluted income per common share $ 1.10 $ 0.90 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Debt Securities, Available-for-sale [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of September 30, 2018 Debt Securities: Municipals $ 34,569,371 $ 2,046 $ (1,231,864 ) $ 33,339,553 Corporates 3,000,000 - (17,024 ) 2,982,976 Government sponsored mortgage-backed securities and SBA loan pools 51,197,672 22,354 (1,937,412 ) 49,282,614 $ 88,767,043 $ 24,400 $ (3,186,300 ) $ 85,605,143 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2017 Debt Securities: Municipals $ 33,908,207 $ 253,872 $ (263,621 ) $ 33,898,458 Corporates 3,000,000 65,000 - 3,065,000 Government sponsored mortgage-backed securities and SBA loan pools 45,414,845 9,283 (908,913 ) 44,515,215 $ 82,323,052 $ 328,155 $ (1,172,534 ) $ 81,478,673 |
Available-for-sale Securities [Table Text Block] | Amortized Cost Approximate Fair Value Less than 1 year - - 1-5 years 430,889 428,979 6-10 years 11,928,256 11,601,504 After 10 years 25,210,226 24,292,046 Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date 51,197,672 49,282,614 $ 88,767,043 $ 85,605,143 |
Debt Securities, Held-to-maturity [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of September 30, 2018 Debt Securities: Government sponsored mortgage-backed securities $ 12,722 $ 154 $ (71 ) $ 12,805 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2017 Debt Securities: Government sponsored mortgage-backed securities $ 16,457 $ 327 $ (55 ) $ 16,729 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2018 Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporates $ 2,982,976 $ (17,024 ) $ - $ - $ 2,982,976 $ (17,024 ) Municipals 15,318,000 (360,210 ) 16,854,043 (871,654 ) 32,172,043 (1,231,864 ) Government sponsored mortgage-backed securities and SBA loan pools 13,890,846 (324,934 ) 31,178,103 (1,612,549 ) 45,068,949 (1,937,483 ) $ 32,191,822 $ (702,168 ) $ 48,032,146 $ (2,484,203 ) $ 80,223,968 $ (3,186,371 ) December 31, 2017 Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Municipals $ 11,024,593 $ (103,747 ) $ 8,802,796 $ (159,874 ) $ 19,827,389 $ (263,621 ) Government sponsored mortgage-backed securities and SBA loan pools 20,088,694 (253,907 ) 22,191,577 (655,006 ) 42,280,271 (908,913 ) $ 31,113,287 $ (357,654 ) $ 30,994,373 $ (814,880 ) $ 62,107,660 $ (1,172,534 ) |
Held-to-maturity Securities [Member] | |
Notes Tables | |
Debt Securities, Held-to-maturity [Table Text Block] | Amortized Cost Approximate Fair Value Government sponsored mortgage-backed securities not due on a single maturity date $ 12,722 $ 12,805 |
Note 5 - Loans and Allowance _2
Note 5 - Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, 2018 2017 Real estate - residential mortgage: One to four family units $ 135,292,752 $ 106,300,790 Multi-family 93,320,376 85,225,074 Real estate - construction 90,819,134 64,743,582 Real estate - commercial 313,283,043 261,866,285 Commercial loans 122,288,207 94,522,840 Consumer and other loans 33,745,549 24,716,447 Total loans 788,749,061 637,375,018 Less: Allowance for loan losses (7,731,707 ) (7,107,418 ) Deferred loan fees/costs, net (701,035 ) (662,591 ) Net loans $ 780,316,319 $ 629,605,009 |
Past Due Financing Receivables [Table Text Block] | As of September 30, 2018 30-59 Days 60-89 Days 90 Days and more Past Due Total Past Current Total Loans Total Loans > (In Thousands) Real estate - residential mortgage: One to four family units $ 68 $ 181 $ 2,238 $ 2,487 $ 132,806 $ 135,293 $ - Multi-family - 5,990 - 5,990 87,330 93,320 - Real estate - construction 323 - - 323 90,496 90,819 - Real estate - commercial 2,667 1,054 698 4,419 308,864 313,283 - Commercial loans 1,386 73 212 1,671 120,617 122,288 - Consumer and other loans 909 9 7 925 32,821 33,746 - Total $ 5,353 $ 7,307 $ 3,155 $ 15,815 $ 772,934 $ 788,749 $ - As of December 31, 2017 30-59 Days 60-89 Days 90 Days and more Past Due Total Past Current Total Loans Total Loans > (In Thousands) Real estate - residential mortgage: One to four family units $ 510 $ 731 $ 2,495 $ 3,736 $ 102,565 $ 106,301 $ - Multi-family 775 - - 775 84,450 85,225 - Real estate - construction - - - - 64,744 64,744 - Real estate - commercial 243 135 - 378 261,488 261,866 - Commercial loans 276 - 588 864 93,659 94,523 - Consumer and other loans 8 8 - 16 24,700 24,716 - Total $ 1,812 $ 874 $ 3,083 $ 5,769 $ 631,606 $ 637,375 $ - |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | September 30, December 31, 2018 2017 Real estate - residential mortgage: One to four family units $ 4,407,862 $ 4,423,074 Multi-family - - Real estate - construction 4,179,409 4,452,409 Real estate - commercial 4,212,886 161,491 Commercial loans 1,167,417 802,628 Consumer and other loans 16,561 121,915 Total $ 13,984,135 $ 9,961,517 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Three months ended September 30, 2018 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 2,484 $ 1,787 $ 1,237 $ 553 $ 1,085 $ 367 $ 60 $ 7,573 Provision charged to expense (219 ) 158 96 97 (44 ) 65 47 $ 200 Losses charged off - - (3 ) - (14 ) (74 ) - $ (91 ) Recoveries 36 - 1 - 4 9 - $ 50 Balance, end of period $ 2,301 $ 1,945 $ 1,331 $ 650 $ 1,031 $ 367 $ 107 $ 7,732 Nine months ended September 30, 2018 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 2,244 $ 1,789 $ 946 $ 464 $ 1,031 $ 454 $ 179 $ 7,107 Provision charged to expense (13 ) 155 386 186 98 185 (72 ) $ 925 Losses charged off - - (3 ) - (110 ) (301 ) - $ (414 ) Recoveries 70 1 2 - 12 29 - $ 114 Balance, end of period $ 2,301 $ 1,945 $ 1,331 $ 650 $ 1,031 $ 367 $ 107 $ 7,732 Three months ended September 30, 2017 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 1,739 $ 1,954 $ 936 $ 323 $ 1,226 $ 335 $ 127 $ 6,640 Provision charged to expense 524 (116 ) (81 ) 52 (99 ) 126 44 $ 450 Losses charged off - (71 ) - - - (46 ) - $ (117 ) Recoveries 16 - 1 - 7 12 - $ 36 Balance, end of period $ 2,279 $ 1,767 $ 856 $ 375 $ 1,134 $ 427 $ 171 $ 7,009 Nine months ended September 30, 2017 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 1,377 $ 1,687 $ 856 $ 206 $ 1,168 $ 337 $ 111 $ 5,742 Provision charged to expense 847 151 2 169 40 231 60 $ 1,500 Losses charged off - (71 ) (11 ) - (85 ) (169 ) - $ (336 ) Recoveries 55 - 9 - 11 28 - $ 103 Balance, end of period $ 2,279 $ 1,767 $ 856 $ 375 $ 1,134 $ 427 $ 171 $ 7,009 As of September 30, 2018 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: Ending balance: individually evaluated for impairment $ 552 $ 51 $ 606 $ - $ 231 $ 26 $ - $ 1,466 Ending balance: collectively evaluated for impairment $ 1,749 $ 1,894 $ 725 $ 650 $ 800 $ 341 $ 107 $ 6,266 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - $ - Loans: Ending balance: individually evaluated for impairment $ 4,180 $ 922 $ 4,405 $ 5,990 $ 863 $ 153 $ - $ 16,513 Ending balance: collectively evaluated for impairment $ 86,639 $ 309,488 $ 130,888 $ 87,330 $ 121,382 $ 33,145 $ - $ 768,872 Ending balance: loans acquired with deteriorated credit quality $ - $ 2,873 $ - $ - $ 43 $ 448 $ - $ 3,364 December 31, 2017 Construction Commercial One to four family Multi- family Commercial Consumer Unallocated Total Allowance for loan losses: Ending balance: individually evaluated for impairment $ 738 $ - $ 127 $ - $ 246 $ 138 $ - $ 1,249 Ending balance: collectively evaluated for impairment $ 1,506 $ 1,789 $ 819 $ 464 $ 785 $ 316 $ 179 $ 5,858 Loans: Ending balance: individually evaluated for impairment $ 4,452 $ 161 $ 4,424 $ 775 $ 739 $ 276 $ - $ 10,827 Ending balance: collectively evaluated for impairment $ 60,292 $ 261,705 $ 101,877 $ 84,450 $ 93,784 $ 24,440 $ - $ 626,548 |
Impaired Financing Receivables [Table Text Block] | September 30, 2018 December 31, 2017 Recorded Unpaid Specific Recorded Unpaid Specific (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 836 $ 836 $ - $ 3,180 $ 3,180 $ - Multi-family - - - 775 775 - Real estate - construction - - - 2,840 2,840 - Real estate - commercial 3,549 3,549 - 161 161 - Commercial loans 242 242 - 465 465 - Consumer and other loans 457 457 - 3 3 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 3,569 $ 3,569 $ 606 $ 1,244 $ 1,244 $ 127 Multi-family 5,990 5,990 - - - - Real estate - construction 4,180 5,413 552 1,612 2,845 738 Real estate - commercial 246 246 51 - - - Commercial loans 664 664 231 274 274 246 Consumer and other loans 144 144 26 273 273 138 Total Real estate - residential mortgage: One to four family units $ 4,405 $ 4,405 $ 606 $ 4,424 $ 4,424 $ 127 Multi-family 5,990 5,990 - 775 775 - Real estate - construction 4,180 5,413 552 4,452 5,685 738 Real estate - commercial 3,795 3,795 51 161 161 - Commercial loans 906 906 231 739 739 246 Consumer and other loans 601 601 26 276 276 138 Total $ 19,877 $ 21,110 $ 1,466 $ 10,827 $ 12,060 $ 1,249 For the Three Months Ended For the Three Months Ended September 30, 2018 September 30, 2017 Average Interest Average Interest (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 1,025 $ - $ 1,946 $ - Multi-family 2,001 25 - - Real estate - construction - - 2,937 - Real estate - commercial 2,496 - 161 - Commercial loans 143 - 504 - Consumer and other loans 93 - 2 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 3,308 $ - $ 183 $ - Multi-family 1,997 - - - Real estate - construction 4,212 - 2,373 - Real estate - commercial 190 - - - Commercial loans 566 - 431 - Consumer and other loans 84 - 123 - Total Real estate - residential mortgage: One to four family units $ 4,333 $ - $ 2,129 $ - Multi-family 3,998 25 - - Real estate - construction 4,212 - 5,310 - Real estate - commercial 2,686 - 161 - Commercial loans 709 - 935 - Consumer and other loans 177 - 125 - Total $ 16,115 $ 25 $ 8,660 $ - For the Nine Months Ended For the Nine Months Ended September 30, 2018 September 30, 2017 Average Interest Average Interest (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 1,649 $ - $ 1,886 $ - Multi-family 1,006 25 - - Real estate - construction 1,525 - 2,964 - Real estate - commercial 2,383 46 360 - Commercial loans 658 - 557 - Consumer and other loans 37 - 8 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 2,671 $ - $ 90 $ - Multi-family 666 - - - Real estate - construction 2,774 - 2,395 - Real estate - commercial 81 - - - Commercial loans 457 - 481 - Consumer and other loans 116 - 94 - Total Real estate - residential mortgage: One to four family units $ 4,320 $ - $ 1,976 $ - Multi-family 1,672 25 - - Real estate - construction 4,299 - 5,359 - Real estate - commercial 2,464 46 360 - Commercial loans 1,115 - 1,038 - Consumer and other loans 153 - 102 - Total $ 14,023 $ 71 $ 8,835 $ - |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Number of Loans Pre-Modification Post-Modification Real estate - residential mortgage: One to four family units - $ - $ - Multi-family - - - Real estate - construction - - - Real estate - commercial - - - Commercial loans 3 225,046 225,046 Consumer and other loans - - - Total 3 $ 225,046 $ 225,046 Interest Rate Term Combination Total Modification Real estate - residential mortgage: One to four family units $ - $ - $ - $ - Multi-family - - - - Real estate - construction - - - - Real estate - commercial - - - - Commercial loans - 30,130 194,916 225,046 Consumer and other loans - - - - Total $ - $ 30,130 $ 194,916 $ 225,046 September 30, 2018 December 31, 2017 Real estate - residential mortgage: One to four family units $ 1,219,575 $ 1,290,462 Multi-family - - Real estate - construction 4,179,409 4,452,409 Real estate - commercial 5,551,695 5,666,096 Commercial loans 748,827 214,529 Consumer and other loans - 118,855 Total $ 11,699,506 $ 11,742,351 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2018 Construction Commercial One to four family Multi-family Commercial Consumer Total (In Thousands) Rating: Pass $ 86,547 $ 299,714 $ 128,506 $ 87,330 $ 118,593 $ 33,193 $ 753,883 Special Mention - 5,574 1,095 - 2,238 - 8,907 Substandard 4,272 7,995 5,692 5,990 1,457 553 25,959 Doubtful - - - - - - - Total $ 90,819 $ 313,283 $ 135,293 $ 93,320 $ 122,288 $ 33,746 $ 788,749 December 31, 2017 Construction Commercial One to four family Multi-family Commercial Consumer Total (In Thousands) Rating: Pass $ 60,291 $ 254,658 $ 96,723 $ 84,450 $ 93,102 $ 24,440 $ 613,664 Special Mention - 5,578 3,799 - 200 - 9,577 Substandard 4,453 1,630 5,779 775 708 276 13,621 Doubtful - - - - 513 - 513 Total $ 64,744 $ 261,866 $ 106,301 $ 85,225 $ 94,523 $ 24,716 $ 637,375 |
Note 6 - Accounting for Certa_2
Note 6 - Accounting for Certain Loans Acquired (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Certain Loans Acquired in Transfer [Table Text Block] | September 30, 2018 (In Thousands) Real estate - commercial $ 3,491 Commercial loans 50 Consumer and other loans 680 Outstanding balance $ 4,221 Carrying amount, net of fair value adjustment of $857 at September 30, 2018 $ 3,364 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2018 2018 (In Thousands) (In Thousands) Balance at beginning of period $ 204 $ 238 Additions - - Accretion (1,724 ) (1,758 ) Reclassification from nonaccretable difference 1,554 1,554 Disposals - - Balance at end of period $ 34 $ 34 |
Note 7 - Goodwill and Other I_2
Note 7 - Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | September 30, 2018 (In Thousands) Goodwill $ 2,615 Core deposit intangible: Gross carrying amount 3,520 Accumulated amortization (314 ) Core deposit intangible, net 3,206 Outstanding balance $ 5,821 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Amortizaton Expense (In Thousands) Remainder of 2018 $ 94 2019 377 2020 377 2021 377 2022 377 2023 377 Thereafter 1,227 Total $ 3,206 |
Note 8 - Benefit Plans (Tables)
Note 8 - Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of shares Incentive Stock Option Non- Incentive Stock Option Weighted Average Exercise Price Balance outstanding as of January 1, 2018 46,000 25,000 $ 15.74 Granted - - - Exercised (12,000 ) (5,000 ) 7.78 Forfeited (20,000 ) (10,000 ) 28.71 Balance outstanding as of September 30, 2018 14,000 10,000 $ 5.16 Options exercisable as of September 30, 2018 14,000 10,000 $ 5.16 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Number of Shares Weighted Average Grant- Date Fair Value Balance of shares non-vested as of January 1, 2018 45,550 $ 16.44 Granted 12,838 22.41 Vested (25,063 ) 16.31 Forfeited - - Balance of shares non-vested as of September 30, 2018 33,325 $ 18.83 |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | Performance Stock Units Weighted Average Grant- Date Fair Value Balance of shares non-vested as of January 1, 2018 55,823 $ 20.48 Granted - - Vested - - Forfeited - - Balance of shares non-vested as of September 30, 2018 55,823 $ 20.48 |
Note 9 - Income Per Common Sh_2
Note 9 - Income Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For three months ended September 30, 2018 For nine months ended September 30, 2018 Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Basic Income Per Common Share $ 3,934,242 4,418,196 $ 0.89 $ 4,947,003 4,406,830 $ 1.12 Effect of Dilutive Securities 72,389 72,058 Diluted Income Per Common Share $ 3,934,242 4,490,585 $ 0.88 $ 4,947,003 4,478,888 $ 1.10 For three months ended September 30, 2017 For nine months ended September 30, 2017 Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Basic Income Per Common Share $ 1,717,383 4,374,725 $ 0.39 $ 4,739,197 4,370,877 $ 1.08 Effect of Dilutive Securities 72,841 64,815 Diluted Income Per Common Share $ 1,717,383 4,447,566 $ 0.39 $ 4,739,197 4,435,692 $ 1.07 |
Note 11 - Derivative Financia_2
Note 11 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | Forward Start Termination Derivative Notional Rate Rate Estimated Fair Value 2/28/2018 2/28/2025 Interest rate swap $ 50,000,000 2.12 % 3 month LIBOR Floating $ 2,679,050 |
Note 12 - Disclosures About F_2
Note 12 - Disclosures About Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | 9/30/2018 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Debt securities: Municipals $ - $ 33,339 $ - $ 33,339 Corporates - 2,983 - 2,983 Government sponsored mortgage-backed securities and SBA loan pools - 49,283 - 49,283 Available-for-sale securities $ - $ 85,605 $ - $ 85,605 Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Interest rate swaps $ - $ 2,679 $ - $ 2,679 12/31/2017 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Debt securities: Municipals $ - $ 33,898 $ - $ 33,898 Corporates - 3,065 - 3,065 Government sponsored mortgage-backed securities and SBA loan pools - 44,515 - 44,515 Available-for-sale securities $ - $ 81,478 $ - $ 81,478 Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Interest rate swaps $ - $ 568 $ - $ 568 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Impaired loans: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value September 30, 2018 $ - $ - $ 9,574 $ 9,574 December 31, 2017 $ - $ - $ 2,224 $ 2,224 Foreclosed assets held for sale: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value September 30, 2018 $ - $ - $ 976 $ 976 December 31, 2017 $ - $ - $ - $ - |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Fair Value Valuation Technique Unobservable Input Range Impaired loans (collateral dependent) $ 9,574 Market Comparable Discount to reflect realizable value 0% - 100% (5%) Foreclosed assets held for sale $ 976 Market Comparable Discount to reflect realizable value N/A |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2018 Carrying Amount Fair Value Hierarchy Financial assets: Cash and cash equivalents $ 31,211,790 $ 31,211,790 1 Held-to-maturity securities 12,722 12,805 2 Federal Home Loan Bank stock 5,043,200 5,043,200 2 Mortgage loans held for sale 961,654 961,654 2 Loans, net 780,316,319 775,577,411 3 Interest receivable 3,403,810 3,403,810 2 Financial liabilities: Deposits 760,729,322 758,855,539 2 Federal Home Loan Bank advances 96,700,000 96,728,237 2 Subordinated debentures 21,782,794 21,782,794 3 Notes payable 5,000,000 5,000,000 2 Interest payable 791,216 791,216 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - December 31, 2017 Carrying Amount Fair Value Hierarchy Financial assets: Cash and cash equivalents $ 37,406,930 $ 37,406,930 1 Held-to-maturity securities 16,457 16,729 2 Federal Home Loan Bank stock 4,597,500 4,597,500 2 Mortgage loans held for sale 1,921,819 1,921,819 2 Loans, net 629,605,009 627,498,508 3 Interest receivable 2,449,847 2,449,847 2 Financial liabilities: Deposits 607,364,350 606,548,280 2 Federal Home Loan Bank advances 94,300,000 94,417,733 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 295,543 295,543 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - |
Note 3 - Acquisition (Details T
Note 3 - Acquisition (Details Textual) - USD ($) | Apr. 02, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 |
Goodwill, Ending Balance | $ 2,615,352 | $ 2,615,352 | ||||
Net Income (Loss) Attributable to Parent, Total | $ 3,934,242 | $ 1,717,383 | $ 4,947,003 | $ 4,739,197 | ||
Hometown Bancshares, Inc. [Member] | ||||||
Net Income (Loss) Attributable to Parent, Total | $ (163,000) | $ (313,000) | ||||
Hometown Bancshares, Inc. [Member] | ||||||
Business Acquisition, Share Price | $ 20 | |||||
Business Combination, Consideration Transferred, Total | $ 4,628,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 178,785,000 | |||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans, Net | 143,919,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 161,248,000 | |||||
Goodwill, Ending Balance | $ 2,615,000 |
Note 3 - Acquisition - Summary
Note 3 - Acquisition - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) | Apr. 02, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Liabilities Assumed | |||
Goodwill | $ 2,615,352 | ||
Hometown Bancshares, Inc. [Member] | |||
Assets Acquired | |||
Cash and Due From Banks | $ 7,083,000 | ||
Investment Securities | 7,521,000 | ||
Loans | 143,919,000 | ||
Allowance for Loan Losses | |||
Net Loans | 143,919,000 | ||
Fixed Assets | 10,066,000 | ||
Foreclosed Assets held for sale | 1,247,000 | ||
Core Deposit Intangible | 3,520,000 | ||
Other Assets | 5,429,000 | ||
Total Assets Acquired | 178,785,000 | ||
Liabilities Assumed | |||
Deposits | 161,248,000 | ||
Federal Home Loan Bank advances | 2,000,000 | ||
Securities Sold Under Agreements to Repurchase | 2,159,000 | ||
Other borrowings | 3,000,000 | ||
Subordinated debentures | 6,362,000 | ||
Other Liabilities | 2,003,000 | ||
Total Liabilities Assumed | 176,772,000 | ||
Total Liabilities and Stockholders' Equity Assumed | 176,772,000 | ||
Net Assets Acquired | 2,013,000 | ||
Purchase Price | 4,628,000 | ||
Goodwill | 2,615,000 | ||
Hometown Bancshares, Inc. [Member] | Acquiree Reported Value [Member] | |||
Assets Acquired | |||
Cash and Due From Banks | 7,083,000 | ||
Investment Securities | 7,521,000 | ||
Loans | 150,390,000 | ||
Allowance for Loan Losses | (2,348,000) | ||
Net Loans | 148,042,000 | ||
Fixed Assets | 9,268,000 | ||
Foreclosed Assets held for sale | 1,647,000 | ||
Core Deposit Intangible | |||
Other Assets | 4,146,000 | ||
Total Assets Acquired | 177,707,000 | ||
Liabilities Assumed | |||
Deposits | 161,001,000 | ||
Federal Home Loan Bank advances | 2,000,000 | ||
Securities Sold Under Agreements to Repurchase | 2,159,000 | ||
Other borrowings | 3,000,000 | ||
Subordinated debentures | 6,186,000 | ||
Other Liabilities | 2,003,000 | ||
Total Liabilities Assumed | 176,349,000 | ||
Common Stock | 231,000 | ||
Capital Surplus | 18,936,000 | ||
Retained Earnings | (17,587,000) | ||
Accumulated Other Comprehensive Loss | (222,000) | ||
Treasury Stock | |||
Total Stockholders' Equity Assumed | 1,358,000 | ||
Total Liabilities and Stockholders' Equity Assumed | 177,707,000 | ||
Hometown Bancshares, Inc. [Member] | Acquisition, Fair Value Adjustments [Member] | |||
Assets Acquired | |||
Cash and Due From Banks | |||
Investment Securities | |||
Loans | (6,471,000) | ||
Allowance for Loan Losses | 2,348,000 | ||
Net Loans | (4,123,000) | ||
Fixed Assets | 798,000 | ||
Foreclosed Assets held for sale | (400,000) | ||
Core Deposit Intangible | 3,520,000 | ||
Other Assets | 1,283,000 | ||
Total Assets Acquired | 1,078,000 | ||
Liabilities Assumed | |||
Deposits | 247,000 | ||
Federal Home Loan Bank advances | |||
Securities Sold Under Agreements to Repurchase | |||
Other borrowings | |||
Subordinated debentures | 176,000 | ||
Other Liabilities | |||
Total Liabilities Assumed | 423,000 | ||
Common Stock | (231,000) | ||
Capital Surplus | (18,936,000) | ||
Retained Earnings | 17,587,000 | ||
Accumulated Other Comprehensive Loss | 222,000 | ||
Treasury Stock | |||
Total Stockholders' Equity Assumed | (1,358,000) | ||
Total Liabilities and Stockholders' Equity Assumed | $ (935,000) |
Note 3 - Acquisition - Pro Form
Note 3 - Acquisition - Pro Forma Financial Information (Details) - Hometown Bancshares, Inc. [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Summary of Operations | ||||
Net interest income | $ 10,729 | $ 7,597 | $ 26,445 | $ 22,792 |
Provision for loan losses | 200 | 437 | 925 | 1,313 |
Net interest income after provision for loan losses | 10,529 | 7,160 | 25,520 | 21,479 |
Non interest income | 1,462 | 1,753 | 5,036 | 5,258 |
Non interest expense | 6,666 | 6,898 | 24,391 | 20,693 |
Income before income taxes | 5,325 | 2,015 | 6,165 | 6,044 |
Provision for income taxes | 1,391 | 680 | 1,260 | 2,040 |
Net income | $ 3,934 | $ 1,335 | $ 4,905 | $ 4,004 |
Basic income per common share (in dollars per share) | $ 0.89 | $ 0.31 | $ 1.12 | $ 0.92 |
Diluted income per common share (in dollars per share) | $ 0.88 | $ 0.30 | $ 1.10 | $ 0.90 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) - USD ($) | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Security Owned and Pledged as Collateral, Carrying Value | $ 29,466,642 | $ 35,774,863 | |
Security Owned and Pledged as Collateral, Fair Value, Total | 28,493,596 | 35,355,969 | |
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | (8,090) | $ 73,473 | |
Available-for-sale Debt Securities, Gross Realized Gain (Loss), Tax Effect | (2,063) | $ 27,185 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | $ 80,223,968 | $ 62,107,660 | |
Percentage of Available-for-sale Debt Securities in Continuous Unrealized Loss Position to Total Investment Portfolio | 94.00% | 76.00% |
Note 4 - Securities - Available
Note 4 - Securities - Available-for-sale Debt Securities (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Available-for-sale securities, amortized cost | $ 88,767,043 | $ 82,323,052 |
Available-for-sale securities, gross unrealized gains | 24,400 | 328,155 |
Available-for-sale securities, gross unrealized (losses) | (3,186,300) | (1,172,534) |
Available-for-sale securities | 85,605,143 | 81,478,673 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 34,569,371 | 33,908,207 |
Available-for-sale securities, gross unrealized gains | 2,046 | 253,872 |
Available-for-sale securities, gross unrealized (losses) | (1,231,864) | (263,621) |
Available-for-sale securities | 33,339,553 | 33,898,458 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 3,000,000 | 3,000,000 |
Available-for-sale securities, gross unrealized gains | 65,000 | |
Available-for-sale securities, gross unrealized (losses) | (17,024) | |
Available-for-sale securities | 2,982,976 | 3,065,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities, amortized cost | 51,197,672 | 45,414,845 |
Available-for-sale securities, gross unrealized gains | 22,354 | 9,283 |
Available-for-sale securities, gross unrealized (losses) | (1,937,412) | (908,913) |
Available-for-sale securities | $ 49,282,614 | $ 44,515,215 |
Note 4 - Securities - Availab_2
Note 4 - Securities - Available-for-sale Securities by Maturity (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Less than 1 year, amortized cost | ||
Less than 1 year, fair value | ||
1-5 years, amortized cost | 430,889 | |
1-5 years, fair value | 428,979 | |
6-10 years, amortized cost | 11,928,256 | |
6-10 years, fair value | 11,601,504 | |
After 10 years, amortized cost | 25,210,226 | |
After 10 years, fair value | 24,292,046 | |
Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date, amortized cost | 51,197,672 | |
Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date, fair value | 49,282,614 | |
Available-for-sale securities, amortized cost | 88,767,043 | $ 82,323,052 |
Available-for-sale securities | $ 85,605,143 | $ 81,478,673 |
Note 4 - Securities - Held-to-m
Note 4 - Securities - Held-to-maturity Securities (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Held-to-maturity securities | $ 12,722 | $ 16,457 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Held-to-maturity securities | 12,722 | 16,457 |
Held-to-maturity securities, gross unrealized gains | 154 | 327 |
Held-to-maturity securities, gross unrealized losses | (71) | (55) |
Held-to-maturity securities, fair value | $ 12,805 | $ 16,729 |
Note 4 - Securities - Held-to_2
Note 4 - Securities - Held-to-maturity Securities by Maturity (Details) | Sep. 30, 2018USD ($) |
Government sponsored mortgage-backed securities not due on a single maturity date, amortized cost | $ 12,722 |
Government sponsored mortgage-backed securities not due on a single maturity date, approximate fair value | $ 12,805 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Securities, continuous unrealized loss position, less than 12 months, fair value | $ 32,191,822 | $ 31,113,287 |
Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (702,168) | (357,654) |
Securities, continuous unrealized loss position, 12 months or more, fair value | 48,032,146 | 30,994,373 |
Securities, continuous unrealized loss position, 12 months or more, unrealized losses | (2,484,203) | (814,880) |
Securities, continuous unrealized loss position, fair value | 80,223,968 | 62,107,660 |
Securities, continuous unrealized loss position, unrealized losses | (3,186,371) | (1,172,534) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities, continuous unrealized loss position, less than 12 months, fair value | 15,318,000 | 11,024,593 |
Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (360,210) | (103,747) |
Securities, continuous unrealized loss position, 12 months or more, fair value | 16,854,043 | 8,802,796 |
Securities, continuous unrealized loss position, 12 months or more, unrealized losses | (871,654) | (159,874) |
Securities, continuous unrealized loss position, fair value | 32,172,043 | 19,827,389 |
Securities, continuous unrealized loss position, unrealized losses | (1,231,864) | (263,621) |
Corporate Debt Securities [Member] | ||
Securities, continuous unrealized loss position, less than 12 months, fair value | 2,982,976 | |
Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (17,024) | |
Securities, continuous unrealized loss position, 12 months or more, fair value | ||
Securities, continuous unrealized loss position, 12 months or more, unrealized losses | ||
Securities, continuous unrealized loss position, fair value | 2,982,976 | |
Securities, continuous unrealized loss position, unrealized losses | (17,024) | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities, continuous unrealized loss position, less than 12 months, fair value | 13,890,846 | 20,088,694 |
Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (324,934) | (253,907) |
Securities, continuous unrealized loss position, 12 months or more, fair value | 31,178,103 | 22,191,577 |
Securities, continuous unrealized loss position, 12 months or more, unrealized losses | (1,612,549) | (655,006) |
Securities, continuous unrealized loss position, fair value | 45,068,949 | 42,280,271 |
Securities, continuous unrealized loss position, unrealized losses | $ (1,937,483) | $ (908,913) |
Note 5 - Loans and Allowance _3
Note 5 - Loans and Allowance for Loan Losses (Details Textual) xbrli-pure in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017 | Sep. 30, 2018USD ($) | Sep. 30, 2017 | Dec. 31, 2017USD ($) | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 3,364,000 | $ 3,364,000 | |||
Certain Loans and Debt Securities Acquired in Transfer, No Allowance Recorded and No Subsequent Impairment | $ 3,400,000 | $ 3,400,000 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |
Substandard [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 3,400,000 | $ 3,400,000 | |||
Nonaccruing Loans [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,000,000 | 3,000,000 | |||
Troubled Debt Restructuring [Member] | |||||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 877,637 | 877,637 | $ 372,321 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 2,015,591 | 2,015,591 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 560,683 | 560,683 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 387,003 | $ 387,003 |
Note 5 - Loans and Allowance _4
Note 5 - Loans and Allowance for Loan Losses - Loans by Category (Details) - USD ($) | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Loans receivable | $ 788,749,061 | $ 637,375,018 | ||||
Allowance for loan losses | (7,731,707) | $ (7,573,000) | (7,107,418) | $ (7,009,000) | $ (6,640,000) | $ (5,742,000) |
Deferred loan fees/costs, net | (701,035) | (662,591) | ||||
Net loans | 780,316,319 | 629,605,009 | ||||
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||||||
Loans receivable | 135,292,752 | 106,300,790 | ||||
Allowance for loan losses | (1,331,000) | (1,237,000) | (946,000) | (856,000) | (936,000) | (856,000) |
Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||||||
Loans receivable | 93,320,376 | 85,225,074 | ||||
Allowance for loan losses | (650,000) | (553,000) | (464,000) | (375,000) | (323,000) | (206,000) |
Real Estate, Construction [Member] | ||||||
Loans receivable | 90,819,134 | 64,743,582 | ||||
Allowance for loan losses | (2,301,000) | (2,484,000) | (2,244,000) | (2,279,000) | (1,739,000) | (1,377,000) |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans receivable | 313,283,043 | 261,866,285 | ||||
Allowance for loan losses | (1,945,000) | (1,787,000) | ||||
Commercial Portfolio Segment [Member] | ||||||
Loans receivable | 122,288,207 | 94,522,840 | ||||
Allowance for loan losses | (1,031,000) | (1,085,000) | (1,031,000) | (1,134,000) | (1,226,000) | (1,168,000) |
Consumer and Other Loans [Member] | ||||||
Loans receivable | 33,745,549 | 24,716,447 | ||||
Allowance for loan losses | $ (367,000) | $ (367,000) | $ (454,000) | $ (427,000) | $ (335,000) | $ (337,000) |
Note 5 - Loans and Allowance _5
Note 5 - Loans and Allowance for Loan Losses - Loans by Aging (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Loans receivable, past due | $ 15,815,000 | $ 5,769,000 |
Loans receivable, current | 772,934,000 | 631,606,000 |
Loans receivable | 788,749,061 | 637,375,018 |
Loans receivable, past due and accruing | ||
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable, past due | 2,487,000 | 3,736,000 |
Loans receivable, current | 132,806,000 | 102,565,000 |
Loans receivable | 135,292,752 | 106,300,790 |
Loans receivable, past due and accruing | ||
Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable, past due | 5,990,000 | 775,000 |
Loans receivable, current | 87,330,000 | 84,450,000 |
Loans receivable | 93,320,376 | 85,225,074 |
Loans receivable, past due and accruing | ||
Real Estate, Construction [Member] | ||
Loans receivable, past due | 323,000 | |
Loans receivable, current | 90,496,000 | 64,744,000 |
Loans receivable | 90,819,134 | 64,743,582 |
Loans receivable, past due and accruing | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, past due | 4,419,000 | 378,000 |
Loans receivable, current | 308,864,000 | 261,488,000 |
Loans receivable | 313,283,043 | 261,866,285 |
Loans receivable, past due and accruing | ||
Commercial Portfolio Segment [Member] | ||
Loans receivable, past due | 1,671,000 | 864,000 |
Loans receivable, current | 120,617,000 | 93,659,000 |
Loans receivable | 122,288,207 | 94,522,840 |
Loans receivable, past due and accruing | ||
Consumer and Other Loans [Member] | ||
Loans receivable, past due | 925,000 | 16,000 |
Loans receivable, current | 32,821,000 | 24,700,000 |
Loans receivable | 33,745,549 | 24,716,447 |
Loans receivable, past due and accruing | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans receivable, past due | 5,353,000 | 1,812,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable, past due | 68,000 | 510,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable, past due | 775,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate, Construction [Member] | ||
Loans receivable, past due | 323,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, past due | 2,667,000 | 243,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable, past due | 1,386,000 | 276,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer and Other Loans [Member] | ||
Loans receivable, past due | 909,000 | 8,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans receivable, past due | 7,307,000 | 874,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable, past due | 181,000 | 731,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable, past due | 5,990,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate, Construction [Member] | ||
Loans receivable, past due | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, past due | 1,054,000 | 135,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable, past due | 73,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer and Other Loans [Member] | ||
Loans receivable, past due | 9,000 | 8,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans receivable, past due | 3,155,000 | 3,083,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable, past due | 2,238,000 | 2,495,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate, Construction [Member] | ||
Loans receivable, past due | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable, past due | 698,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable, past due | 212,000 | 588,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer and Other Loans [Member] | ||
Loans receivable, past due | $ 7,000 |
Note 5 - Loans and Allowance _6
Note 5 - Loans and Allowance for Loan Losses - Nonaccruing Loans (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Nonaccruing loans | $ 13,984,135 | $ 9,961,517 |
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Nonaccruing loans | 4,407,862 | 4,423,074 |
Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Nonaccruing loans | ||
Real Estate, Construction [Member] | ||
Nonaccruing loans | 4,179,409 | 4,452,409 |
Commercial Real Estate Portfolio Segment [Member] | ||
Nonaccruing loans | 4,212,886 | 161,491 |
Commercial Portfolio Segment [Member] | ||
Nonaccruing loans | 1,167,417 | 802,628 |
Consumer and Other Loans [Member] | ||
Nonaccruing loans | $ 16,561 | $ 121,915 |
Note 5 - Loans and Allowance _7
Note 5 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Balance | $ 7,573,000 | $ 6,640,000 | $ 7,107,418 | $ 5,742,000 | |
Provision for loan losses | 200,000 | 450,000 | 925,000 | 1,500,000 | |
Losses charged off | (91,000) | (117,000) | (414,000) | (336,000) | |
Recoveries | 50,000 | 36,000 | 114,000 | 103,000 | |
Balance | 7,731,707 | 7,009,000 | 7,731,707 | 7,009,000 | |
Ending balance: individually evaluated for impairment | 1,466,000 | 1,466,000 | $ 1,249,000 | ||
Ending balance: collectively evaluated for impairment | 6,266,000 | 6,266,000 | 5,858,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Ending balance: individually evaluated for impairment | 16,513,000 | 16,513,000 | 10,827,000 | ||
Ending balance: collectively evaluated for impairment | 768,872,000 | 768,872,000 | 626,548,000 | ||
Ending balance: loans acquired with deteriorated credit quality | 3,364,000 | 3,364,000 | |||
Real Estate, Construction [Member] | |||||
Balance | 2,484,000 | 1,739,000 | 2,244,000 | 1,377,000 | |
Provision for loan losses | (219,000) | 524,000 | (13,000) | 847,000 | |
Losses charged off | |||||
Recoveries | 36,000 | 16,000 | 70,000 | 55,000 | |
Balance | 2,301,000 | 2,279,000 | 2,301,000 | 2,279,000 | |
Ending balance: individually evaluated for impairment | 552,000 | 552,000 | 738,000 | ||
Ending balance: collectively evaluated for impairment | 1,749,000 | 1,749,000 | 1,506,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Ending balance: individually evaluated for impairment | 4,180,000 | 4,180,000 | 4,452,000 | ||
Ending balance: collectively evaluated for impairment | 86,639,000 | 86,639,000 | 60,292,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance | 1,787,000 | ||||
Provision for loan losses | 158,000 | ||||
Losses charged off | |||||
Recoveries | |||||
Balance | 1,945,000 | 1,945,000 | |||
Ending balance: individually evaluated for impairment | 51,000 | 51,000 | |||
Ending balance: collectively evaluated for impairment | 1,894,000 | 1,894,000 | 1,789,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Ending balance: individually evaluated for impairment | 922,000 | 922,000 | 161,000 | ||
Ending balance: collectively evaluated for impairment | 309,488,000 | 309,488,000 | 261,705,000 | ||
Ending balance: loans acquired with deteriorated credit quality | 2,873,000 | 2,873,000 | |||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance | 1,954,000 | 1,789,000 | 1,687,000 | ||
Provision for loan losses | (116,000) | 155,000 | 151,000 | ||
Losses charged off | (71,000) | (71,000) | |||
Recoveries | 1,000 | ||||
Balance | 1,945,000 | 1,767,000 | 1,945,000 | 1,767,000 | |
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | |||||
Balance | 1,237,000 | 936,000 | 946,000 | 856,000 | |
Provision for loan losses | 96,000 | (81,000) | 386,000 | 2,000 | |
Losses charged off | (3,000) | (3,000) | (11,000) | ||
Recoveries | 1,000 | 1,000 | 2,000 | 9,000 | |
Balance | 1,331,000 | 856,000 | 1,331,000 | 856,000 | |
Ending balance: individually evaluated for impairment | 606,000 | 606,000 | 127,000 | ||
Ending balance: collectively evaluated for impairment | 725,000 | 725,000 | 819,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Ending balance: individually evaluated for impairment | 4,405,000 | 4,405,000 | 4,424,000 | ||
Ending balance: collectively evaluated for impairment | 130,888,000 | 130,888,000 | 101,877,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | |||||
Balance | 553,000 | 323,000 | 464,000 | 206,000 | |
Provision for loan losses | 97,000 | 52,000 | 186,000 | 169,000 | |
Losses charged off | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Balance | 650,000 | 375,000 | 650,000 | 375,000 | |
Ending balance: individually evaluated for impairment | |||||
Ending balance: collectively evaluated for impairment | 650,000 | 650,000 | 464,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Ending balance: individually evaluated for impairment | 5,990,000 | 5,990,000 | 775,000 | ||
Ending balance: collectively evaluated for impairment | 87,330,000 | 87,330,000 | 84,450,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Commercial Portfolio Segment [Member] | |||||
Balance | 1,085,000 | 1,226,000 | 1,031,000 | 1,168,000 | |
Provision for loan losses | (44,000) | (99,000) | 98,000 | 40,000 | |
Losses charged off | (14,000) | (110,000) | (85,000) | ||
Recoveries | 4,000 | 7,000 | 12,000 | 11,000 | |
Balance | 1,031,000 | 1,134,000 | 1,031,000 | 1,134,000 | |
Ending balance: individually evaluated for impairment | 231,000 | 231,000 | 246,000 | ||
Ending balance: collectively evaluated for impairment | 800,000 | 800,000 | 785,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Ending balance: individually evaluated for impairment | 863,000 | 863,000 | 739,000 | ||
Ending balance: collectively evaluated for impairment | 121,382,000 | 121,382,000 | 93,784,000 | ||
Ending balance: loans acquired with deteriorated credit quality | 43,000 | 43,000 | |||
Consumer and Other Loans [Member] | |||||
Balance | 367,000 | 335,000 | 454,000 | 337,000 | |
Provision for loan losses | 65,000 | 126,000 | 185,000 | 231,000 | |
Losses charged off | (74,000) | (46,000) | (301,000) | (169,000) | |
Recoveries | 9,000 | 12,000 | 29,000 | 28,000 | |
Balance | 367,000 | 427,000 | 367,000 | 427,000 | |
Ending balance: individually evaluated for impairment | 26,000 | 26,000 | 138,000 | ||
Ending balance: collectively evaluated for impairment | 341,000 | 341,000 | 316,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Ending balance: individually evaluated for impairment | 153,000 | 153,000 | 276,000 | ||
Ending balance: collectively evaluated for impairment | 33,145,000 | 33,145,000 | 24,440,000 | ||
Ending balance: loans acquired with deteriorated credit quality | 448,000 | 448,000 | |||
Unallocated [Member] | |||||
Balance | 127,000 | 179,000 | 111,000 | ||
Provision for loan losses | 44,000 | (72,000) | 60,000 | ||
Losses charged off | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Balance | 107,000 | $ 171,000 | 107,000 | $ 171,000 | |
Unallocated Financing Receivables [Member] | |||||
Balance | 60,000 | ||||
Provision for loan losses | 47,000 | ||||
Losses charged off | 0 | ||||
Recoveries | 0 | ||||
Balance | 107,000 | 107,000 | |||
Ending balance: individually evaluated for impairment | |||||
Ending balance: collectively evaluated for impairment | 107,000 | 107,000 | 179,000 | ||
Ending balance: loans acquired with deteriorated credit quality | |||||
Ending balance: individually evaluated for impairment | |||||
Ending balance: collectively evaluated for impairment | |||||
Ending balance: loans acquired with deteriorated credit quality |
Note 5 - Loans and Allowance _8
Note 5 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Valuation allowance | $ 1,466 | $ 1,466 | $ 1,249 | ||
Loans recorded balance | 19,877 | 19,877 | 10,827 | ||
Loans unpaid principal | 21,110 | 21,110 | 12,060 | ||
Loans interest income recognized | 25 | 71 | |||
Loans average investment in impaired loans | 16,115 | 8,660 | 14,023 | 8,835 | |
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | |||||
Loans without a specific valuation allowance, recorded balance | 836 | 836 | 3,180 | ||
Loans without a specific valuation allowance, unpaid principal | 836 | 836 | 3,180 | ||
Loans with a specific valuation allowance, recorded balance | 3,569 | 3,569 | 1,244 | ||
Loans with a specific valuation allowance, unpaid principal | 3,569 | 3,569 | 1,244 | ||
Valuation allowance | 606 | 606 | 127 | ||
Loans recorded balance | 4,405 | 4,405 | 4,424 | ||
Loans unpaid principal | 4,405 | 4,405 | 4,424 | ||
Loans without a specific valuation allowance, average investment in impaired loans | 1,025 | 1,946 | 1,649 | 1,886 | |
Loans interest income recognized | |||||
Loans with a specific valuation allowance, average investment in impaired loans | 3,308 | 183 | 2,671 | 90 | |
Loans average investment in impaired loans | 4,333 | 2,129 | 4,320 | 1,976 | |
Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | |||||
Loans without a specific valuation allowance, recorded balance | 775 | ||||
Loans without a specific valuation allowance, unpaid principal | 775 | ||||
Loans with a specific valuation allowance, recorded balance | 5,990 | 5,990 | |||
Loans with a specific valuation allowance, unpaid principal | 5,990 | 5,990 | |||
Valuation allowance | |||||
Loans recorded balance | 5,990 | 5,990 | 775 | ||
Loans unpaid principal | 5,990 | 5,990 | 775 | ||
Loans without a specific valuation allowance, average investment in impaired loans | 2,001 | 1,006 | |||
Loans interest income recognized | 25 | 25 | |||
Loans with a specific valuation allowance, average investment in impaired loans | 1,997 | 666 | |||
Loans average investment in impaired loans | 3,998 | 1,672 | |||
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
Loans without a specific valuation allowance, average investment in impaired loans | 2,937 | 1,525 | 2,964 | ||
Loans interest income recognized | |||||
Loans with a specific valuation allowance, average investment in impaired loans | 4,212 | 2,373 | 2,774 | 2,395 | |
Loans average investment in impaired loans | 4,212 | 5,310 | 4,299 | 5,359 | |
Real Estate, Construction [Member] | |||||
Loans without a specific valuation allowance, recorded balance | 2,840 | ||||
Loans without a specific valuation allowance, unpaid principal | 2,840 | ||||
Loans with a specific valuation allowance, recorded balance | 4,180 | 4,180 | 1,612 | ||
Loans with a specific valuation allowance, unpaid principal | 5,413 | 5,413 | 2,845 | ||
Valuation allowance | 552 | 552 | 738 | ||
Loans recorded balance | 4,180 | 4,180 | 4,452 | ||
Loans unpaid principal | 5,413 | 5,413 | 5,685 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Loans without a specific valuation allowance, recorded balance | 3,549 | 3,549 | 161 | ||
Loans without a specific valuation allowance, unpaid principal | 3,549 | 3,549 | 161 | ||
Loans with a specific valuation allowance, recorded balance | 246 | 246 | |||
Loans with a specific valuation allowance, unpaid principal | 246 | 246 | |||
Valuation allowance | 51 | 51 | |||
Loans recorded balance | 3,795 | 3,795 | 161 | ||
Loans unpaid principal | 3,795 | 3,795 | 161 | ||
Loans without a specific valuation allowance, average investment in impaired loans | 2,496 | 161 | 2,383 | 360 | |
Loans interest income recognized | 46 | ||||
Loans with a specific valuation allowance, average investment in impaired loans | 190 | 81 | |||
Loans average investment in impaired loans | 2,686 | 161 | 2,464 | 360 | |
Commercial Portfolio Segment [Member] | |||||
Loans without a specific valuation allowance, recorded balance | 242 | 242 | 465 | ||
Loans without a specific valuation allowance, unpaid principal | 242 | 242 | 465 | ||
Loans with a specific valuation allowance, recorded balance | 664 | 664 | 274 | ||
Loans with a specific valuation allowance, unpaid principal | 664 | 664 | 274 | ||
Valuation allowance | 231 | 231 | 246 | ||
Loans recorded balance | 906 | 906 | 739 | ||
Loans unpaid principal | 906 | 906 | 739 | ||
Loans without a specific valuation allowance, average investment in impaired loans | 143 | 504 | 658 | 557 | |
Loans interest income recognized | |||||
Loans with a specific valuation allowance, average investment in impaired loans | 566 | 431 | 457 | 481 | |
Loans average investment in impaired loans | 709 | 935 | 1,115 | 1,038 | |
Consumer and Other Loans [Member] | |||||
Loans without a specific valuation allowance, recorded balance | 457 | 457 | 3 | ||
Loans without a specific valuation allowance, unpaid principal | 457 | 457 | 3 | ||
Loans with a specific valuation allowance, recorded balance | 144 | 144 | 273 | ||
Loans with a specific valuation allowance, unpaid principal | 144 | 144 | 273 | ||
Valuation allowance | 26 | 26 | 138 | ||
Loans recorded balance | 601 | 601 | 276 | ||
Loans unpaid principal | 601 | 601 | $ 276 | ||
Consumer Portfolio Segment [Member] | |||||
Loans without a specific valuation allowance, average investment in impaired loans | 93 | 2 | 37 | 8 | |
Loans interest income recognized | |||||
Loans with a specific valuation allowance, average investment in impaired loans | 84 | 123 | 116 | 94 | |
Loans average investment in impaired loans | $ 177 | $ 125 | $ 153 | $ 102 |
Note 5 - Loans and Allowance _9
Note 5 - Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details) | 3 Months Ended |
Sep. 30, 2018USD ($) | |
Number of loans | 3 |
Pre-modification outstanding recorded balance | $ 225,046 |
Post-modification outstanding recorded balance | $ 225,046 |
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | |
Number of loans | 0 |
Pre-modification outstanding recorded balance | $ 0 |
Post-modification outstanding recorded balance | 0 |
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | Interest Rate [Member] | |
Post-modification outstanding recorded balance | 0 |
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | Term [Member] | |
Post-modification outstanding recorded balance | 0 |
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | Combination [Member] | |
Post-modification outstanding recorded balance | $ 0 |
Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | |
Number of loans | 0 |
Pre-modification outstanding recorded balance | $ 0 |
Post-modification outstanding recorded balance | 0 |
Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | Combination [Member] | |
Post-modification outstanding recorded balance | $ 0 |
Real Estate, Construction [Member] | |
Number of loans | 0 |
Pre-modification outstanding recorded balance | $ 0 |
Post-modification outstanding recorded balance | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | |
Number of loans | 0 |
Pre-modification outstanding recorded balance | $ 0 |
Post-modification outstanding recorded balance | 0 |
Commercial Real Estate Portfolio Segment [Member] | Interest Rate [Member] | |
Post-modification outstanding recorded balance | $ 0 |
Commercial Portfolio Segment [Member] | |
Number of loans | 3 |
Pre-modification outstanding recorded balance | $ 225,046 |
Post-modification outstanding recorded balance | 225,046 |
Commercial Portfolio Segment [Member] | Interest Rate [Member] | |
Post-modification outstanding recorded balance | 0 |
Commercial Portfolio Segment [Member] | Term [Member] | |
Post-modification outstanding recorded balance | 194,916 |
Commercial Portfolio Segment [Member] | Combination [Member] | |
Post-modification outstanding recorded balance | $ 225,046 |
Consumer and Other Loans [Member] | |
Number of loans | 0 |
Pre-modification outstanding recorded balance | $ 0 |
Post-modification outstanding recorded balance | 0 |
Consumer and Other Loans [Member] | Term [Member] | |
Post-modification outstanding recorded balance | 0 |
Consumer and Other Loans [Member] | Combination [Member] | |
Post-modification outstanding recorded balance | $ 0 |
Note 5 - Loans and Allowance_10
Note 5 - Loans and Allowance for Loan Losses - Loans by Credit Quality (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Loans receivable | $ 788,749,061 | $ 637,375,018 |
Real Estate, Construction [Member] | ||
Loans receivable | 90,819,134 | 64,743,582 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 313,283,043 | 261,866,285 |
Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable | 135,292,752 | 106,300,790 |
Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable | 93,320,376 | 85,225,074 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 122,288,207 | 94,522,840 |
Consumer and Other Loans [Member] | ||
Loans receivable | 33,745,549 | 24,716,447 |
Pass [Member] | ||
Loans receivable | 753,883,000 | 613,664,000 |
Pass [Member] | Real Estate, Construction [Member] | ||
Loans receivable | 86,547,000 | 60,291,000 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 299,714,000 | 254,658,000 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable | 128,506,000 | 96,723,000 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable | 87,330,000 | 84,450,000 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 118,593,000 | 93,102,000 |
Pass [Member] | Consumer and Other Loans [Member] | ||
Loans receivable | 33,193,000 | 24,440,000 |
Special Mention [Member] | ||
Loans receivable | 8,907,000 | 9,577,000 |
Special Mention [Member] | Real Estate, Construction [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 5,574,000 | 5,578,000 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable | 1,095,000 | 3,799,000 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 2,238,000 | 200,000 |
Special Mention [Member] | Consumer and Other Loans [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | ||
Loans receivable | 25,959,000 | 13,621,000 |
Substandard [Member] | Real Estate, Construction [Member] | ||
Loans receivable | 4,272,000 | 4,453,000 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 7,995,000 | 1,630,000 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable | 5,692,000 | 5,779,000 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable | 5,990,000 | 775,000 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 1,457,000 | 708,000 |
Substandard [Member] | Consumer and Other Loans [Member] | ||
Loans receivable | 553,000 | 276,000 |
Doubtful [Member] | ||
Loans receivable | 0 | 513,000 |
Doubtful [Member] | Real Estate, Construction [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, One To Four Family Units [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Residential, Multi Family Units [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 0 | 513,000 |
Doubtful [Member] | Consumer and Other Loans [Member] | ||
Loans receivable | $ 0 | $ 0 |
Note 6 - Accounting for Certa_3
Note 6 - Accounting for Certain Loans Acquired (Details Textual) $ in Millions | 3 Months Ended |
Sep. 30, 2018USD ($) | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Full Payoff of Certain Purchased Credit Impaired Loans | $ 4.3 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion Due to Payoff | $ 1.8 |
Note 6 - Accounting for Certa_4
Note 6 - Accounting for Certain Loans Acquired - Carrying Amount of Certain Loans Acquired in Transfer (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Certain loans acquired in transfer | $ 4,221 |
Ending balance: loans acquired with deteriorated credit quality | 3,364 |
Commercial Real Estate Portfolio Segment [Member] | |
Certain loans acquired in transfer | 3,491 |
Ending balance: loans acquired with deteriorated credit quality | 2,873 |
Commercial Portfolio Segment [Member] | |
Certain loans acquired in transfer | 50 |
Ending balance: loans acquired with deteriorated credit quality | 43 |
Consumer and Other Loans [Member] | |
Certain loans acquired in transfer | 680 |
Ending balance: loans acquired with deteriorated credit quality | $ 448 |
Note 6 - Accounting for Certa_5
Note 6 - Accounting for Certain Loans Acquired - Carrying Amount of Certain Loans Acquired in Transfer (Details) (Parentheticals) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Fair value adjustment | $ 857 |
Note 6 - Accounting for Certa_6
Note 6 - Accounting for Certain Loans Acquired - Accretable Yield (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2018 | Sep. 30, 2018 | |
Balance at beginning of period | $ 204 | $ 238 |
Additions | ||
Accretion | (1,724) | (1,758) |
Reclassification from nonaccretable difference | 1,554 | 1,554 |
Disposals | ||
Balance at end of period | $ 34 | $ 34 |
Note 7 - Goodwill and Other I_3
Note 7 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | |||
Jun. 30, 2018 | Sep. 30, 2018 | Apr. 02, 2018 | Dec. 31, 2017 | |
Goodwill, Ending Balance | $ 2,615,352 | |||
Hometown Bancshares, Inc. [Member] | ||||
Goodwill, Ending Balance | $ 2,615,000 | |||
Core Deposits [Member] | Hometown Bancshares, Inc. [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||
Finite-lived Intangible Assets Acquired | $ 3,500,000 |
Note 7 - Goodwill and Other I_4
Note 7 - Goodwill and Other Intangible Assets - Goodwill and Other Intangibles (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Goodwill | $ 2,615,352 | |
Gross carrying amount | 3,520,000 | |
Accumulated amortization | (314,000) | |
Total | 3,205,714 | |
Outstanding balance | $ 5,821,000 |
Note 7 - Goodwill and Other I_5
Note 7 - Goodwill and Other Intangible Assets - Estimated Remaining Amortization Expense on Intangibles (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Remainder of 2018 | $ 94,000 | |
2,019 | 377,000 | |
2,020 | 377,000 | |
2,021 | 377,000 | |
2,022 | 377,000 | |
2,023 | 377,000 | |
Thereafter | 1,227,000 | |
Total | $ 3,205,714 |
Note 8 - Benefit Plans (Details
Note 8 - Benefit Plans (Details Textual) - USD ($) | Mar. 29, 2017 | Feb. 28, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 267,366 | $ 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 452,100 | $ 669,800 | 452,100 | 669,800 | ||
Share Price | $ 20.48 | $ 22.41 | ||||
Allocated Share-based Compensation Expense, Total | 159,115 | $ 136,263 | $ 493,249 | 363,041 | ||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 12,838 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 712,949 | $ 712,949 | ||||
Restricted Stock [Member] | Director [Member] | ||||||
Restricted Stock or Unit Expense | $ 103,926 | $ 101,099 | ||||
Restricted Stock [Member] | Director [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 5,852 | |||||
Share-based Compensation Arrangement by Share-based Payment Award Equity Instruments Other Than Options, Cliff Vesting Period | 1 year | |||||
Restricted Stock [Member] | Officer [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 6,986 | 6,426 | ||||
Share-based Compensation Arrangement by Share-based Payment Award Equity Instruments Other Than Options, Cliff Vesting Period | 3 years | 3 years | ||||
Restricted Stock or Unit Expense | $ 135,810 | $ 159,413 | ||||
Restricted Stock Units (RSUs) [Member] | Officer [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 55,823 | |||||
Restricted Stock or Unit Expense | $ 253,513 | $ 102,529 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Incentive Award Level, Threshold, Percentage | 25.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Incentive Award Level, Target, Percentage | 50.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Maximum Incentive Award Level, Percentage | 100.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Incentive Award Level, Weight, Total Assets, Percentage | 50.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Incentive Award Level, Weight, Return on Average Assets, Percentage | 50.00% |
Note 8 - Benefit Plans - Stock
Note 8 - Benefit Plans - Stock Option Activity (Details) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Balance outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 15.74 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | 7.78 |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | 28.71 |
Balance outstanding, weighted average exercise price (in dollars per share) | $ / shares | 5.16 |
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 5.16 |
Incentive Stock Options [Member] | |
Balance outstanding (in shares) | 46,000 |
Granted (in shares) | |
Exercised (in shares) | (12,000) |
Forfeited (in shares) | (20,000) |
Balance outstanding (in shares) | 14,000 |
Options exercisable (in shares) | 14,000 |
Non-Incentive Stock Options [Member] | |
Balance outstanding (in shares) | 25,000 |
Granted (in shares) | |
Exercised (in shares) | (5,000) |
Forfeited (in shares) | (10,000) |
Balance outstanding (in shares) | 10,000 |
Options exercisable (in shares) | 10,000 |
Note 8 - Benefit Plans - Restri
Note 8 - Benefit Plans - Restricted Stock (Details) - Restricted Stock [Member] | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Balance of shares non-vested (in shares) | shares | 45,550 |
Balance of shares non-vested, weighted average grant-date price (in dollars per share) | $ / shares | $ 16.44 |
Granted (in shares) | shares | 12,838 |
Granted, weighted average grant-date price (in dollars per share) | $ / shares | $ 22.41 |
Vested (in shares) | shares | (25,063) |
Vested, weighted average grant-date price (in dollars per share) | $ / shares | $ 16.31 |
Forfeited (in shares) | shares | |
Forfeited, weighted average grant-date price (in dollars per share) | $ / shares | |
Balance of shares non-vested (in shares) | shares | 33,325 |
Balance of shares non-vested, weighted average grant-date price (in dollars per share) | $ / shares | $ 18.83 |
Note 8 - Benefit Plans - Perfor
Note 8 - Benefit Plans - Performance Stock Units (Details) - Performance Shares [Member] | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Balance of shares non-vested (in shares) | shares | 55,823 |
Balance of shares non-vested, weighted average grant-date price (in dollars per share) | $ / shares | $ 20.48 |
Granted (in shares) | shares | |
Granted (in dollars per share) | $ / shares | |
Vested (in shares) | shares | 0 |
Vested, weighted average grant-date price (in dollars per share) | $ / shares | $ 0 |
Forfeited (in shares) | shares | 0 |
Forfeited, weighted average grant-date price (in dollars per share) | $ / shares | $ 0 |
Balance of shares non-vested (in shares) | shares | 55,823 |
Balance of shares non-vested, weighted average grant-date price (in dollars per share) | $ / shares | $ 20.48 |
Note 9 - Income Per Common Sh_3
Note 9 - Income Per Common Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 32,500 | 32,500 |
Note 9 - Income Per Common Sh_4
Note 9 - Income Per Common Share - Income Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Basic Income Per Common Share, Income Available to Common Shareholders | $ 3,934,242 | $ 1,717,383 | $ 4,947,003 | $ 4,739,197 |
Basic Income Per Common Share, Average Common Shares Outstanding (in shares) | 4,418,196 | 4,374,725 | 4,406,830 | 4,370,877 |
Basic Income Per Common Share (in dollars per share) | $ 0.89 | $ 0.39 | $ 1.12 | $ 1.08 |
Effect of Dilutive Securities, Average Common Shares Outstanding (in shares) | 72,389 | 72,841 | 72,058 | 64,815 |
Diluted Income Per Common Share, Income Available to Common Shareholders | $ 3,934,242 | $ 1,717,383 | $ 4,947,003 | $ 4,739,197 |
Diluted Income Per Common Share, Average Common Shares Outstanding (in shares) | 4,490,585 | 4,447,566 | 4,478,888 | 4,435,692 |
Diluted Income Per Common Share (in dollars per share) | $ 0.88 | $ 0.39 | $ 1.10 | $ 1.07 |
Note 10 - New Accounting Pron_2
Note 10 - New Accounting Pronouncements (Details Textual) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
New Accounting Pronouncement, Early Adoption, Effect [Member] | Accounting Standards Update 2018-02 [Member] | |
Reclassifications of Amounts Within AOCI to Retained Earnings Due to Tax Reform | $ 31,818 |
Note 11 - Derivative Financia_3
Note 11 - Derivative Financial Instruments (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2017 | |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ 430,248 | $ (76,222) | $ 2,198,977 | $ 151,420 | |
Interest Rate Swap [Member] | |||||
Derivative, Notional Amount | $ 50,000,000 | 50,000,000 | $ 50,000,000 | ||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 1,995,892 | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | $ 683,158 |
Note 11 - Derivative Financia_4
Note 11 - Derivative Financial Instruments - Summary of Derivative Financial Instruments (Details) - Interest Rate Swap [Member] - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Jun. 30, 2017 | |
Termination Date | Feb. 28, 2025 | |
Notional Amount | $ 50,000,000 | $ 50,000,000 |
Rate Paid | 2.12% | |
Estimated Fair Value | $ 2,679,050 |
Note 12 - Disclosures About F_3
Note 12 - Disclosures About Fair Value of Assets and Liabilities (Details Textual) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale, Total | $ 85,605,143 | $ 81,478,673 |
Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | $ 0 |
Note 12 - Disclosures About F_4
Note 12 - Disclosures About Fair Value of Assets and Liabilities - Fair Value of Assets Measured on Recurring Basis (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Available-for-sale securities | $ 85,605,143 | $ 81,478,673 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 33,339,553 | 33,898,458 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | 2,982,976 | 3,065,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | 49,282,614 | 44,515,215 |
Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | 0 | |
Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities | 85,605,000 | 81,478,000 |
Interest rate swaps | 2,679,000 | 568,000 |
Estimated Fair Value | 2,679,000 | 568,000 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 33,339,000 | 33,898,000 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 2,983,000 | 3,065,000 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | 49,283,000 | 44,515,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Interest rate swaps | ||
Estimated Fair Value | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 85,605,000 | 81,478,000 |
Interest rate swaps | 2,679,000 | 568,000 |
Estimated Fair Value | 2,679,000 | 568,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 33,339,000 | 33,898,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 2,983,000 | 3,065,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities | 49,283,000 | 44,515,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | ||
Interest rate swaps | ||
Estimated Fair Value | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available-for-sale securities |
Note 12 - Disclosures About F_5
Note 12 - Disclosures About Fair Value of Assets and Liabilities - Fair Value of Assets Measured on Non-recurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Impaired loans, fair value | $ 9,574 | $ 2,224 |
Foreclosed assets held for sale, fair value | 976 | |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans, fair value | ||
Foreclosed assets held for sale, fair value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans, fair value | ||
Foreclosed assets held for sale, fair value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans, fair value | 9,574 | 2,224 |
Foreclosed assets held for sale, fair value | $ 976 |
Note 12 - Disclosures About F_6
Note 12 - Disclosures About Fair Value of Assets and Liabilities - Fair Value Quantitative Information (Details) - Fair Value, Inputs, Level 3 [Member] - Valuation, Market Approach [Member] $ in Thousands | Sep. 30, 2018USD ($) |
Impaired loans, fair value | $ 9,574 |
Foreclosed assets held for sale, fair value | $ 976 |
Minimum [Member] | |
Impaired loans (collateral dependent) | 0 |
Maximum [Member] | |
Impaired loans (collateral dependent) | 100 |
Weighted Average [Member] | |
Impaired loans (collateral dependent) | (5) |
Note 12 - Disclosures About F_7
Note 12 - Disclosures About Fair Value of Assets and Liabilities - Fair Value of Financial Instruments (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | $ 31,211,790 | $ 37,406,930 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets: | ||
Held-to-maturity securities | 12,722 | 16,457 |
Federal Home Loan Bank stock | 5,043,200 | 4,597,500 |
Mortgage loans held for sale | 961,654 | 1,921,819 |
Interest receivable | 3,403,810 | 2,449,847 |
Financial liabilities: | ||
Deposits | 760,729,322 | 607,364,350 |
Federal Home Loan Bank advances | 96,700,000 | 94,300,000 |
Notes payable | 5,000,000 | |
Interest payable | 791,216 | 295,543 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets: | ||
Loans, net | 780,316,319 | 629,605,009 |
Financial liabilities: | ||
Subordinated debentures | 21,782,794 | 15,465,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 31,211,790 | 37,406,930 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets: | ||
Held-to-maturity securities | 12,805 | 16,729 |
Federal Home Loan Bank stock | 5,043,200 | 4,597,500 |
Mortgage loans held for sale | 961,654 | 1,921,819 |
Interest receivable | 3,403,810 | 2,449,847 |
Financial liabilities: | ||
Deposits | 758,855,539 | 606,548,280 |
Federal Home Loan Bank advances | 96,728,237 | 94,417,733 |
Notes payable | 5,000,000 | |
Interest payable | 791,216 | 295,543 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets: | ||
Loans, net | 775,577,411 | 627,498,508 |
Financial liabilities: | ||
Subordinated debentures | $ 21,782,794 | $ 15,465,000 |