Cover Page
Cover Page - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 11, 2020 | Jun. 30, 2019 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | CIZN | ||
Entity Registrant Name | CITIZENS HOLDING CO /MS/ | ||
Entity Central Index Key | 0001075706 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Address, State or Province | MS | ||
Entity Interactive Data Current | Yes | ||
Title of 12(b) Security | Common Stock | ||
Security Exchange Name | NASDAQ | ||
Entity Common Stock, Shares Outstanding | 5,578,131 | ||
Entity Public Float | $ 92,106,467 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 15,937 | $ 12,592 |
Interest bearing deposits with other banks | 58,557 | 8,080 |
Federal funds sold | 1,600 | |
Securities available for sale, at fair value | 464,383 | 444,746 |
Loans, net of allowance for loan losses of $3,755 in 2019 and $3,372 in 2018 | 573,312 | 425,905 |
Bank premises, furniture, fixtures and equipment, net | 24,672 | 19,717 |
Other real estate owned, net | 3,552 | 3,440 |
Accrued interest receivable | 4,181 | 4,166 |
Cash surrender value of life insurance | 25,088 | 25,384 |
Deferred tax assets | 3,684 | 6,634 |
Other assets | 20,468 | 7,966 |
Total assets | 1,195,434 | 958,630 |
Deposits | ||
Non-interest bearing deposits | 190,406 | 170,030 |
Interest bearing deposits | 708,590 | 586,192 |
Total deposits | 898,996 | 756,222 |
Securities sold under agreement to repurchase | 170,410 | 107,965 |
Accrued interest payable | 1,128 | 471 |
Deferred compensation payable | 9,453 | 9,053 |
Other liabilities | 2,647 | 1,053 |
Total liabilities | 1,082,634 | 874,764 |
Shareholders' equity | ||
Common stock, $.20 par value, authorized 22,500,000 shares; 5,578,131 shares issued and outstanding at December 31, 2019 and 4,904,530 shares issued and outstanding at December 31, 2018 | 1,116 | 981 |
Additional paid-in capital | 17,883 | 4,298 |
Accumulated other comprehensive loss, net of tax benefit of ($262) in 2019 and ($4,978) in 2018 | (789) | (14,975) |
Retained earnings | 94,590 | 93,562 |
Total stockholders' equity | 112,800 | 83,866 |
Total liabilities and shareholders' equity | $ 1,195,434 | $ 958,630 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Loans, allowance for loan losses | $ 3,755 | $ 3,372 |
Common stock, par value | $ 0.20 | $ 0.20 |
Common stock, shares authorized | 22,500,000 | 22,500,000 |
Common stock, shares issued | 5,578,131 | 4,904,530 |
Common stock, shares outstanding | 5,578,131 | 4,904,530 |
Accumulated other comprehensive loss, tax benefits | $ (262) | $ (4,978) |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | |||
Interest and fees on loans | $ 24,652 | $ 20,241 | $ 18,734 |
Interest on securities | |||
Taxable | 7,993 | 8,345 | 8,179 |
Non-taxable | 1,808 | 2,579 | 3,319 |
Other interest | 908 | 193 | 273 |
Total interest income | 35,361 | 31,358 | 30,505 |
Interest expense | |||
Deposits | 7,719 | 2,811 | 1,922 |
Other borrowed funds | 2,003 | 1,648 | 1,421 |
Total interest expense | 9,722 | 4,459 | 3,343 |
Net interest income | 25,639 | 26,899 | 27,162 |
(Provision for) reversal of loan losses | (573) | (334) | 543 |
Net interest income after (provision for) reversal of loan losses | 25,066 | 26,565 | 27,705 |
Non-interest income | |||
Net gains on sales of securities | 191 | 11 | 105 |
Other income | 2,015 | 1,148 | 1,315 |
Total non-interest income | 9,748 | 8,600 | 8,297 |
Non-interest expense | |||
Salaries and employee benefits | 14,883 | 14,530 | 14,772 |
Occupancy expense | 2,099 | 2,017 | 2,175 |
Equipment expense | 3,146 | 3,713 | 3,210 |
Other expense | 7,430 | 7,404 | 8,070 |
Total non-interest expense | 27,558 | 27,664 | 28,227 |
Income before income taxes | 7,256 | 7,501 | 7,775 |
Income tax expense | 1,354 | 828 | 4,071 |
Net income | $ 5,902 | $ 6,673 | $ 3,704 |
Net income per share - basic | $ 1.17 | $ 1.36 | $ 0.76 |
Net income per share - diluted | $ 1.17 | $ 1.36 | $ 0.76 |
Weighted average shares outstanding | |||
Basic | 5,063,736 | 4,889,420 | 4,878,691 |
Diluted | 5,066,103 | 4,899,218 | 4,895,848 |
Deposit Account [Member] | |||
Non-interest income | |||
Other income | $ 4,413 | $ 4,562 | $ 4,239 |
Financial Service, Other [Member] | |||
Non-interest income | |||
Other income | $ 3,129 | $ 2,879 | $ 2,638 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 5,902 | $ 6,673 | $ 3,704 |
Other comprehensive income (loss) | |||
Unrealized holding gains (losses) on available-for-sale securities | 19,093 | (8,982) | 6,241 |
Income tax effect | (4,764) | 2,240 | (2,080) |
Net unrealized gains (losses) | 14,329 | (6,742) | 4,161 |
Reclassification adjustment for gains included in net income | (191) | (11) | (105) |
Income tax effect | 48 | 3 | 26 |
Net gains included in net income | (143) | (8) | (79) |
Total other comprehensive income (loss) | 14,186 | (6,750) | 4,082 |
Comprehensive income (loss) | $ 20,088 | $ (77) | $ 7,786 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings |
Beginning Balance at Dec. 31, 2016 | $ 85,059 | $ 976 | $ 3,802 | $ (10,719) | $ 91,000 |
Beginning Balance (in shares) at Dec. 31, 2016 | 4,882,579 | ||||
Net income | 3,704 | 3,704 | |||
Dividends paid | (4,697) | (4,697) | |||
Options exercised | 93 | $ 1 | 92 | ||
Options exercised (in shares) | 4,626 | ||||
Restricted stock granted | $ 2 | (2) | |||
Restricted stock granted (in shares) | 7,500 | ||||
Stock compensation expense | 211 | 211 | |||
AOCI reclassification | (1,588) | 1,588 | |||
Other comprehensive income, net | 4,082 | 4,082 | |||
Ending Balance at Dec. 31, 2017 | 88,452 | $ 979 | 4,103 | (8,225) | 91,595 |
Ending Balance (in shares) at Dec. 31, 2017 | 4,894,705 | ||||
Net income | 6,673 | 6,673 | |||
Dividends paid | (4,706) | (4,706) | |||
Options exercised | 27 | 27 | |||
Options exercised (in shares) | 2,325 | ||||
Restricted stock granted | $ 2 | (2) | |||
Restricted stock granted (in shares) | 7,500 | ||||
Stock compensation expense | 170 | 170 | |||
Other comprehensive income, net | (6,750) | (6,750) | |||
Ending Balance at Dec. 31, 2018 | 83,866 | $ 981 | 4,298 | (14,975) | 93,562 |
Ending Balance (in shares) at Dec. 31, 2018 | 4,904,530 | ||||
Net income | 5,902 | 5,902 | |||
Dividends paid | (4,874) | (4,874) | |||
Common stock issued in connection with acquisition | 13,557 | $ 133 | 13,424 | ||
Common stock issued in connection with acquisition, shares | 666,101 | ||||
Restricted stock granted | $ 2 | (2) | |||
Restricted stock granted (in shares) | 7,500 | ||||
Stock compensation expense | 163 | 163 | |||
AOCI reclassification | 0 | 0 | |||
Other comprehensive income, net | 14,186 | 14,186 | |||
Ending Balance at Dec. 31, 2019 | $ 112,800 | $ 1,116 | $ 17,883 | $ (789) | $ 94,590 |
Ending Balance (in shares) at Dec. 31, 2019 | 5,578,131 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | |||
Dividends paid, per share | $ 0.96 | $ 0.96 | $ 0.96 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Net income | $ 5,902 | $ 6,673 | $ 3,704 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation and amortization | 912 | 937 | 1,003 |
Amortization of premiums and accretion of discounts on investment securities, net | 5,294 | 3,283 | 3,317 |
Stock compensation expense | 163 | 170 | 211 |
Provision for (reversal of) loan losses | 573 | 334 | (543) |
Gain on sale of securities | (191) | (11) | (105) |
Gain from death benefit proceeds on BOLI | (371) | ||
Net gain on sale of other real estate owned | (311) | ||
Deferred income tax expense | 459 | 973 | 3,885 |
Net writedown on other real estate owned | 414 | ||
Decrease in accrued interest receivable | 382 | 285 | 269 |
Increase in cash surrender value life insurance | (709) | (771) | (722) |
Increase (decrease) in accrued interest payable | 166 | 273 | (1) |
Increase in deferred compensation liability | 400 | 432 | 411 |
Net change in other operating assets and liabilities | (722) | (407) | (1,224) |
Net cash provided by operating activities | 11,947 | 12,171 | 10,619 |
Cash flows from investing activities | |||
Proceeds from calls, paydowns and maturities of securities available-for-sale | 59,189 | 40,964 | 42,390 |
Proceeds from sales of securities available-for-sale | 122,171 | 17,620 | 114,061 |
Purchases of investment securities available-for-sale | (160,591) | (10,550) | (162,449) |
Increase in federal funds sold | (1,600) | ||
Death benefit proceeds from bank-owned life insurance | 1,549 | ||
Purchases of bank premises, furniture, fixtures and equipment | (1,042) | (346) | (2,911) |
Proceeds from sales of bank premises, furniture, fixtures and equipment | 264 | ||
Proceeds from sale of other real estate owned | 584 | 812 | 138 |
Net (increase) decrease in interest bearing deposits with other banks | (48,927) | (6,547) | 47,071 |
Net cash paid in acquisition of business | (317) | ||
Purchases of Federal Home Loan Bank Stock | (476) | (499) | |
Net increase in loans | (44,678) | (24,108) | (11,788) |
Net cash (used by) provided by investing activities | (73,662) | 17,633 | 26,013 |
Cash flows from financing activities | |||
Net increase (decrease) in deposits | 16,459 | 35,536 | (39,469) |
Net (decrease) increase in federal funds purchased | (1,500) | 1,500 | |
Net increase (decrease) in securities sold under agreement to repurchase | 62,444 | (34,532) | (7,785) |
Proceeds from exercise of stock options | 27 | 93 | |
Dividends paid to shareholders | (4,874) | (4,706) | (4,697) |
Net (decrease) increase in Federal Home Loan Bank advances | (8,969) | (30,000) | 10,000 |
Net cash provided by (used in) financing activities | 65,060 | (35,175) | (40,358) |
Net increase (decrease) in cash and due from banks | 3,345 | (5,371) | (3,726) |
Cash and due from banks, beginning of year | 12,592 | 17,963 | 21,689 |
Cash and due from banks, end of year | 15,937 | 12,592 | 17,963 |
Supplemental disclosures of cash flow information | |||
Interest | 9,065 | 4,186 | 3,344 |
Income taxes | 685 | 410 | 1,782 |
Noncash disclosures | |||
Issuance of common stock for acquisition of business | 13,557 | ||
Real estate acquired by foreclosure | $ 385 | $ 260 | $ 89 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 1. Summary of Significant Accounting Policies (in thousands, except share and per share data) Nature of Business Citizens Holding Company (referred to herein as the “Company”) owns and operates The Citizens Bank of Philadelphia (the “Bank”). In addition to full service commercial banking, the Bank offers title insurance services through its subsidiary, Title Services LLC. As a state bank, the Bank is subject to regulations of the Mississippi Department of Banking and Consumer Finance and the Federal Deposit Insurance Company. The Company is also subject to the regulations of the Federal Reserve. The area served by the Bank is east central, several southern and northern counties of Mississippi and the surrounding areas. Services are provided at multiple branch offices. Basis of Financial Statement Presentation The accounting policies of the Company and its subsidiary conform to generally accepted accounting principles (“GAAP”) in the United States of America and to general practices within the banking industry. The consolidated financial statements of the Company include the accounts of the Bank and its subsidiary (collectively, the “Company”). All significant intercompany transactions have been eliminated in consolidation. Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with the determination of the allowance for loan losses and valuation of foreclosed real estate, management obtains independent appraisals for significant properties. While management uses available information to recognize losses on loans and to value foreclosed real estate, future additions to the allowance or adjustments to the valuation may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses and valuations of foreclosed real estate. Such agencies may require the Company to recognize additions to the allowance or to make adjustments to the valuation based on their judgments about information available to them at the time of their examination. Due to these factors, it is reasonably possible that the allowance for loan losses and valuation of foreclosed real estate may change materially in the near term. Cash, Due from Banks and Interest Bearing Deposits with Other Banks For the purpose of reporting cash flows, cash and due from banks includes cash on hand and demand deposits. Cash flows from loans originated by the Company, deposits, and federal funds purchased and sold are reported net in the statement of cash flows. The Company is required to maintain average reserve balances with the Federal Reserve Bank based on a percentage of deposits. Interest-bearing deposits with other banks mature within one year and are carried at cost. Investment Securities In accordance with the investments topic of the Accounting Standards Codification (“ASC”), securities are classified as “available-for-sale,” “held-to-maturity” Securities Available-for-Sale Securities that are held for indefinite periods of time or used as part of the Company’s asset/liability management strategy and that may be sold in response to interest rate changes, changes in prepayment risk, the need to increase regulatory capital and other similar factors are classified as available-for-sale available-for-sale Securities Held to Maturity Securities that are held-to-maturity Realized gains or losses, determined on the basis of the cost of specific securities sold, are included in earnings. The amortization of premiums and accretion of discounts are recognized in interest income. The Company periodically reviews its securities for impairment based upon a number of factors, including but not limited to, length of time and extent to which the fair value has been less than cost, the likelihood of the security’s ability to recover any decline in its fair value, financial condition of the underlying issuer, ability of the issuer to meet contractual obligations and ability to retain the security for a period of time sufficient to allow for recovery in fair value. Impairments on securities are recognized when management, based on its analysis, deems the impairment to be other-than-temporary. Disclosures about unrealized losses in the Company’s securities portfolio that have not been recognized as other-than-temporary impairments are provided in Note 3. Loans and Allowance for Loan Losses Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal amount outstanding, net of unearned income and an allowance for loan losses. The Company has no loans held-for-sale. Unearned income includes deferred fees net of deferred direct incremental loan origination cost. Unearned income attributable to loans held with a maturity of more than one year is recognized as income or expense over the life of the loan. Unearned discounts on installment loans are recognized as income over the terms of the loans by a method that approximates the interest method. Unearned income and interest on commercial loans are recognized based on the principal amount outstanding. For all other loans, interest is accrued daily on the outstanding balances. For impaired loans, interest is discontinued on a loan when management believes, after considering collection efforts and other factors, that the borrower’s financial condition is such that collection of interest is doubtful. Cash collections on impaired loans are credited to the loan receivable balance, and no interest income is recognized on those loans until the principal balance has been collected. The Company generally discontinues the accrual of interest income when a loan becomes 90 days past due as to principal or interest; however, management may elect to continue the accrual when the estimated net realizable value of collateral is sufficient to cover the principal balance and the accrued interest. Interest income on other nonaccrual loans is recognized only to the extent of interest payments. Upon discontinuance of the accrual of interest on a loan, any previously accrued but unpaid interest is reversed against interest income. A loan is impaired when management determines that it is probable the Company will be unable to collect all contractual principal and interest payments due in accordance with the terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. The amount of impairment, if any, and any subsequent changes are included in the allowance for loan losses. Troubled debt restructurings (“TDR”) are those for which concessions have been granted to the borrower due to a deterioration of the borrower’s financial condition. Such concessions may include reduction in interest rates or deferral of interest or principal payments. In evaluating whether to restructure a loan, management analyzes the long-term financial condition of the borrower, including guarantor and collateral support, to determine whether the proposed concessions will increase the likelihood of repayment of principal and interest. TDR are classified as performing, unless they are on nonaccrual status of 90 days or more delinquent, in which case they are considered nonperforming. The allowance for loan losses is established through a provision for loan losses charged against net income. Loans determined to be uncollectible are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. The allowance represents an amount, which, in management’s judgment, will be adequate to absorb estimated probable losses on existing loans that may become uncollectible. In order to determine an adequate level of allowance, management utilizes a model that calculates the allowance for loan loss by applying an average historical charge-off Large groups of small-balance homogenous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment disclosures. Business Combinations, Accounting for Credit-Deteriorated Purchased Loans and Related Assets Business combinations are accounted for by applying the acquisition method in accordance with ASC 805, “Business Combinations.” Under the acquisition method, identifiable assets acquired and liabilities assumed and any non-controlling Loans purchased in business combinations with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected are considered to be credit-impaired. Purchased credit deteriorated loans are accounted for in accordance with ASC 310-30, 310-30”), Bank Premises, Furniture, Fixtures and Equipment The Company’s premises, furniture, fixtures and equipment are stated at cost less accumulated depreciation computed by straight-line methods over the estimated useful lives of the assets, which range from three to forty years. Costs of major additions and improvements are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred. Other Real Estate Owned Other real estate owned (“OREO”) consists of properties repossessed by the Company on foreclosed loans. These assets are stated at fair value at the date acquired less estimated costs to sell. Losses arising from the acquisition of such property are charged against the allowance for loan losses. Declines in value resulting from subsequent revaluation of the property or losses resulting from disposition of such property are expensed as incurred. Revenue and expenses from operations of other real estate owned are reflected as other income (expense). Cash Surrender Value of Life Insurance The Company has purchased life insurance contracts on certain employees and directors. Certain of such policies were acquired to fund deferred compensation arrangements with employees and directors. The cash surrender value of the Company owned policies is carried at the actual cash surrender value of the policy at the balance sheet date. Changes in the value of the policies are classified in non-interest Intangible Assets Intangible assets include core deposits purchased and goodwill. Core deposit intangibles are amortized on a straight-line basis over their estimated economic lives ranging from 5 to 10 years. Goodwill and other intangible assets with indefinite lives are not amortized but are tested at least annually for impairment. Fair values are determined based on market valuation multiples for the Company and comparable businesses based on the assets and cash flow of the Bank, the Company’s only reportable segment. If impairment has occurred, the goodwill or other intangible asset is reduced to its estimated fair value through a charge to expense. Trust Assets Assets held by the trust department of the Company in its fiduciary or agency capacities are not assets of the Company and are not included in the consolidated financial statements. Income Taxes Provisions for income taxes are based on taxes payable or refundable for the current year and the changes in deferred tax assets and liabilities, excluding components of other comprehensive income. Deferred tax assets and liabilities are included in the financial statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled. As ch a Comprehensive Income (Loss) Comprehensive income (loss) includes net earnings reported in the consolidated statements of income and changes in unrealized gain (loss) on securities available-for-sale available-for-sale, Net Income Per Share Net income per share-basic is computed by dividing net income by the weighted average number of common shares outstanding during the year. Net income per share-diluted is based on the weighted average number of shares of common stock outstanding for the periods, including the dilutive effect of the Company’s outstanding stock options and restricted stock grants. The effect of the dilutive shares for the years 2019, 2018 and 2017 is illustrated in the following table. 2019 2018 2017 Basic weighted average shares outstanding 5,063,736 4,889,420 4,878,691 Dilutive effect of stock options 2,367 9,798 17,157 Dilutive weighted average shares outstanding 5,066,103 4,899,218 4,895,848 Net income $ 5,902 $ 6,673 $ 3,704 Net income per share-basic $ 1.17 $ 1.36 $ 0.76 Net income per share-diluted $ 1.17 $ 1.36 $ 0.76 Advertising Costs Advertising costs are charged to expense when incurred. Advertising expense was $551, $640 and $650 for the years ended December 31, 2019, 2018 and 2017, respectively. Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold. Securities, generally United States Government, federal agency and state county municipal securities, pledged as collateral under these financing arrangements cannot be sold or re-pledged Reclassifications Certain information for 2017 and 2018 has been reclassified to conform to the financial presentation for 2019. Such reclassifications had no effect on net income or shareholders’ equity. Stock-Based Compensation At December 31, 2019, the Company had outstanding grants under two stock-based compensation plans, which are the 1999 Directors’ Stock Compensation Plan and the 2013 Incentive Compensation Plan. Compensation expense for option grants and restricted stock awards is determined based on the estimated fair value of the stock options and restricted stock on the applicable grant or award date. The Company has elected to account for forfeitures in compensation cost when they occur as permitted under the guidance in ASC 718, “Compensation—Stock Compensation” (“ASC 718”). Expense associated with the Company’s stock-based compensation is included under the line item “Salaries and benefits” on the Consolidated Statements of Income. The Company recognizes compensation expense for all share-based payments to employees in accordance with ASC 718, “Compensation – Stock Compensation.” See Note 19 for further details regarding the Company’s stock-based compensation. Subsequent Events The Company has evaluated, for consideration of recognition or disclosure, subsequent events that have occurred through the date of issuance of its financial statements, and has determined that no significant events occurred after December 31, 2019 but prior to the issuance of these financial statements that would have a material impact on its Consolidated Financial Statements. Adoption of New Accounting Standards ASU 2016-02 2016-02”) 2016-02 2016-02 2016-02 2016-02, The Company’s operating leases relate primarily to branch properties and related equipment. As a result of implementing ASU 2016-02, right-of-use financial Newly Issued, But Not Yet Effective Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments 2016-13”). 2016-13 2016-13 2016-13 were ori ginally 2016-13 2016-13 2016-13 ASU 2018-13 Fair Value Measurement (Topic 820) – Changes in the Disclosure Requirements for Fair Value Measurement 2018-13”) 2018-13 In January 2017, FASB issued ASU 2017-04, “ Intangibles - Goodwill and Other (Topic 350) . In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740) |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Business Combinations | Note 2. Business Combinations (dollar amounts in thousands, except share and per share Acquisition of Charter Bank Effective October 1, 2019, the Company completed its acquisition of Charter Bank (“Charter”) in a transaction valued at approximately $19,668. The Company issued 666,101 shares of common stock and paid approximately $6,110 to Charter stockholders for 100% voting equity interest in Charter. On October 1, 2019, Charter operated 4 banking locations on the Mississippi Gulf Coast. The Company recorded approximately $10,719 in intangible assets which consist of goodwill of $9,953 and a core deposit intangible of $766. Goodwill resulted from a combination of revenue enhancements from expansion in existing markets and efficiencies resulting from operational synergies. The fair value of the core deposit intangible is being amortized on a straight-line basis over the estimated useful life, currently expected to be 7 years. The Company recorded approximately $558 in expenses related to the merger in 2019. Merger expenses were expensed as incurred and are included in other expense in the consolidated statements of income. The following table summarizes the allocation of purchase price to assets and liabilities acquired in connection with the Company’s acquisition of Charter based on their fair values on October 1, 2019. Purchase Price: Shares issued to common shareholders 666,101 Purchase price per share $ 20.35 Value of stock paid $ 13,555 Cash consideration paid 6,110 Cash paid for fractional shares 3 Total Purchase Price $ 19,668 Net Assets Acquired: Stockholders’ equity at transaction date $ 11,383 Increase (decrease) to net assets as a result of fair value adjustments to assets acquired and liabilities assumed: Securities (237 ) Loans, including loans held for sale (347 ) Premises and equipment (1,252 ) Intangible assets 575 Other assets (272 ) Deposits (135 ) Total Net Assets Acquired 9,715 Goodwill resulting from merger $ 9,953 The following table summarizes the fair value on October 1, 2019 of assets acquired and liabilities assumed at acquisition date in connection with the merger with Charter. Cash and cash equivalents $ 7,343 Investment securities available for sale 26,607 Loans 103,665 Premises and equipment 4,813 Intangible assets 10,719 Other assets 3,957 Total assets 157,104 Deposits 126,316 Borrowings 8,969 Other l 2,151 Total liabilities $ 137,436 Supplemental Pro Forma Condensed Consolidated Results of Operations The following unaudited pro forma condensed consolidated financial information presents the results of operations for the twelve months ended December 31, 2019 and 2018 of the Company as though the Charter merger had been completed as of January 1, 2018. The unaudited estimated pro forma information combines the historical results of Charter with the Company’s historical consolidated results and includes adjustments reflecting the estimated impact of certain fair value adjustments for the periods presented. The pro forma information is not necessarily indicative of what would have occurred had the acquisitions taken place on January 1, 2018. The pro forma information does not include the effect of any cost-saving or revenue-enhancing strategies. Merger expenses are reflected in the period in which they were incurred. (Unaudited) Year Ended December 31, 2019 2018 Net interest income - pro forma $ 29,237 $ 32,206 Noninterest income - pro forma $ 10,090 $ 9,014 Noninterest expense - pro forma $ 35,075 $ 32,714 Net income - pro forma $ 2,692 $ 6,982 Earnings per share - pro forma Basic $ 0.53 $ 1.43 Diluted $ 0.53 $ 1.43 For the three months ended December 31, 2019, Charter, the acquiree, had net interest income of $1,021 , non-interest income of $720 and income before income taxes of $1,362 included in the consolidated statements of income for the year en ded December 31, 2019 |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 3. Investment Securities (in thousands) The amortized cost and estimated fair value of securities available-for-sale Gross Gross Amortized Unrealized Unrealized 2019 Cost Gains Losses Fair Value Securities available-for-sale Obligations of U.S. Government agencies $ 97,400 $ — $ 289 $ 97,111 Mortgage-backed securities 308,310 640 2,050 306,900 State, County, Municipals 59,724 708 60 60,372 Total $ 465,434 $ 1,348 $ 2,399 $ 464,383 Gross Gross Amortized Unrealized Unrealized 2018 Cost Gains Losses Fair Value Securities available-for-sale Obligations of U.S. Government agencies $ 99,366 $ — $ 3,388 $ 95,978 Mortgage-backed securities 259,742 5 12,373 247,374 State, County, Municipals 105,591 67 4,264 101,394 Total $ 464,699 $ 72 $ 20,025 $ 444,746 The following tables show the gross unrealized losses and fair value of the Company’s investments classified as AFS investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2019 and 2018. A summary of unrealized loss information for AFS securities, categorized by security type follows: December 31, 2019 Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Obligations of U.S. Government agencies $ 76,682 217 $ 20,429 72 $ 97,111 289 Mortgage backed securities 101,730 871 76,630 1,179 178,360 2,050 State, County, Municipal 8,280 37 3,731 23 12,011 60 Total $ 186,692 1,125 $ 100,790 1,274 $ 287,482 2,399 December 31, 2018 Less than 12 months 12 months or more Total Description of Securities Fair Unrealized Fair Value Unrealized Fair Value Unrealized Obligations of U.S. Government agencies $ — — $ 95,978 3,388 $ 95,978 3,388 Mortgage backed securities 12,258 179 234,929 12,194 247,187 12,373 State, County, Municipal 12,624 285 76,536 3,979 89,160 4,264 Total $ 24,882 464 $ 407,443 19,561 $ 432,325 20,025 The Company’s unrealized losses on its Obligations of United States Government agencies, Mortgage backed securities and State, County and Municipal bonds are the result of an upward trend in interest rates, mainly in the mid-term The amortized cost and estimated fair value of securities at December 31, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Fair Value Securities AFS Due in one year or less $ 345 $ 345 Due after one year through five years 89,920 89,681 Due after five years through ten years 18,678 18,808 Due after ten years 48,181 48,649 Residential mortgage backed securities 259,309 258,415 Commercial mortgage backed securities 49,001 48,485 Total $ 465,434 $ 464,383 Investment securities with fair values of $413,275 and $357,231 at December 31, 2019 and December 31, 2018, respectively, were pledged as collateral for public deposits and securities sold under agreement to repurchase. Gross realized gains and losses are included in net gains on sales of securities. Total gross realized gains and gross realized losses from the sale of investment securities for each of the years ended December 31 were: 2019 2018 2017 Gross realized gains $ 414 $ 171 $ 633 Gross realized losses 223 160 528 Net realized gains $ 191 $ 11 $ 105 |
Federal Home Loan Bank Stock
Federal Home Loan Bank Stock | 12 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Federal Home Loan Bank Stock | Note 4. Federal Home Loan Bank Stock (in thousands) The Company, as a member of the Federal Home Loan Bank of Dallas (“FHLB”) system, owns stock in the organization. No ready market exists for the stock, and it has no quoted market value. The Company’s investment in the FHLB is carried at cost of $3,083 and $2,253 at December 31, 2019 and December 31, 2018, respectively, and is included in other assets. The Company purchased stock in 2019 and 2018 at the par value of $100 per share. |
Non Purchased Loans
Non Purchased Loans | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Non Purchased Loans | Note 5. Non Purchased Loans (In Thousands, Except Number of Loans) “Purchased” loans are those acquired in any of the Company’s previous acquisitions. “Non purchased” loans include all of the Company’s other loans. For purposes of this Note 5, all references to “loans” mean non purchased loans. The composition of loans, net at December 31, 2019 and 2018 is as follows: 2019 2018 Real Estate: Land Development and Construction $ 66,428 $ 41,134 Farmland 15,595 14,498 1-4 87,631 88,747 Commercial Real Estate 207,604 203,595 Total Real Estate Loans 377,258 347,974 Business Loans: Commercial and Industrial Loans 84,611 66,421 Farm Production and Other Farm Loans 683 907 Total Business Loans 85,294 67,328 Consumer Loans: Credit Cards 1,833 1,648 Other Consumer Loans 12,060 12,372 Total Consumer Loans 13,893 14,020 Total Gross Loans 476,445 429,322 Unearned Income (8 ) (45 ) Allowance for Loan Losses (3,755 ) (3,372 ) Loans, net $ 472,682 $ 425,905 The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews these policies and procedures and submits them to the Company’s Board of Directors for its approval when needed, but no less frequently than annually. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing The Company maintains an independent loan review department that reviews and validates the credit risk program on a periodic basis. Results of this review are presented to management with quarterly reports made to the board of directors. The loan review process complements and reinforces the risk identification and assessment decisions made by the lenders and credit personnel, as well as the Company’s policies and procedures. Loans are made principally to customers in the Company’s market. The Company’s lending policy provides that loans collateralized by real estate are normally made with loan-to-value In the ordinary course of business, the Company has granted loans to certain directors, significant shareholders and their affiliates (collectively referred to as “related parties”). These loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other unaffiliated persons and do not involve more than normal risk of collectability. Activity in related party loans during 2019 is presented in the following table. Balance outstanding at December 31, 2018 $ 2,941 Principal additions 190 Principal reductions (2,744 ) Balance outstanding at December 31, 2019 $ 387 Loans are considered to be past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on non-accrual non-accrual Year-end non-accrual 2019 2018 Real Estate: Land Development and Construction $ 111 $ — Farmland 232 200 1-4 2,160 1,831 Commercial Real Estate 9,082 7,612 Total Real Estate Loans 11,585 9,643 Business Loans: Commercial and Industrial Loans 338 76 Farm Production and Other Farm Loans 10 31 Total Business Loans 348 107 Consumer Loans: Other Consumer Loans 60 89 Total Consumer Loans 60 89 Total non-accrual $ 11,993 $ 9,839 In the event that non-accrual An age analysis of past due loans, segregated by class of loans, as of December 31, 2019 is as follows: Accruing Loans Loans Loans 90 or more 90 or more 30-89 Days Days Past Total Past Current Total Loans Days Past Due Real Estate: Land Development and Construction $ 736 $ — $ 736 $ 65,692 $ 66,428 $ — Farmland 171 39 210 15,385 15,595 39 1-4 3,116 777 3,893 83,738 87,631 147 Commercial Real Estate 8,511 2,080 10,591 197,013 207,604 18 Total Real Estate Loans 12,534 2,896 15,430 361,828 377,258 204 Business Loans: Commercial and Industrial Loans 586 312 898 83,713 84,611 52 Farm Production and Other Farm Loans 17 — 17 666 683 — Total Business Loans 603 312 915 84,379 85,294 52 Consumer Loans: Credit Cards 45 18 63 1,770 1,833 18 Other Consumer Loans 172 42 214 11,846 12,060 — Total Consumer Loans 217 60 277 13,616 13,893 18 Total Loans $ 13,354 $ 3,268 $ 16,622 $ 459,823 $ 476,445 $ 274 An age analysis of past due loans, segregated by class of loans, as of December 31, 2018 is as follows: Accruing Loans Loans Loans 90 or more 90 or more 30-89 Days Days Total Past Current Total Days Past Due Past Due Due Loans Loans Loans Past Due Real Estate: Land Development and Construction $ 1,494 $ 54 $ 1,548 $ 39,586 $ 41,134 $ 54 Farmland 779 29 808 13,690 14,498 — 1-4 3,456 330 3,786 84,961 88,747 — Commercial Real Estate 1,059 2,981 4,040 199,555 203,595 — Total Real Estate Loans 6,788 3,394 10,182 337,792 347,974 54 Business Loans: Commercial and Industrial Loans 1,672 21 1,693 64,728 66,421 — Farm Production and Other Farm Loans 9 — 9 898 907 — Total Business Loans 1,681 21 1,702 65,626 67,328 — Consumer Loans: Credit Cards 16 4 20 1,628 1,648 4 Other Consumer Loans 212 33 245 12,127 12,372 15 Total Consumer Loans 228 37 265 13,755 14,020 19 Total Loans $ 8,697 $ 3,452 $ 12,149 $ 417,173 $ 429,322 $ 73 Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all the amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. In determining which loans to evaluate for impairment, management looks at past due loans, bankruptcy filings and any situation that might lend itself to cause a borrower to be unable to repay the loan according to the original contract terms on those loans in excess of $100. If a loan is determined to be impaired and the collateral is deemed to be insufficient to fully repay the loan, a specific reserve will be established. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis. Impaired loans or portions thereof, are charged-off Impaired loans as of December 31, by class of loans, are as follows: 2019 Unpaid Recorded Recorded Total Related Average Real Estate: Land Development and Construction $ 111 $ 58 $ 53 $ 111 $ 16 $ 56 Farmland 252 252 — 252 — 261 1-4 839 740 99 839 28 996 Commercial Real Estate 11,506 5,949 3,840 9,789 566 9,337 Total Real Estate Loans 12,708 6,999 3,992 10,991 610 10,649 Business: Commercial and Industrial 144 — 144 144 72 72 Total Business Loans 144 — 144 144 72 72 Total Loans $ 12,852 $ 6,999 $ 4,136 $ 11,135 $ 682 $ 10,721 2018 Unpaid Recorded Recorded Total Related Average Real Estate: Land Development and Construction $ — $ — $ — $ — $ — $ — Farmland 269 269 — 269 — 135 1-4 1,153 1,062 91 1,153 27 728 Commercial Real Estate 10,601 5,209 3,675 8,884 374 6,489 Total Real Estate Loans 12,023 6,540 3,766 10,306 401 7,352 Total Loans $ 12,023 $ 6,540 $ 3,766 $ 10,306 $ 401 $ 7,352 The following table presents troubled debt restructurings segregated by class: December 31, 2019 Number of Pre-Modification Post-Modification Commercial real estate 3 $ 4,871 $ 2,495 Total 3 $ 4,871 $ 2,495 December 31, 2018 Number of Pre-Modification Post-Modification Commercial real estate 3 $ 4,871 $ 2,782 Total 3 $ 4,871 $ 2,782 Changes in the Company’s troubled debt restructurings are set forth in the table below: Number of Recorded Total at January 1, 2017 3 $ 3,288 Reductions due to: Principal paydowns (241 ) Total at January 1, 2018 3 3,047 Reductions due to: Principal paydowns (265 ) Total at January 1, 2019 3 2,782 Reductions due to: Principal paydowns (287 ) Total at December 31, 2019 3 $ 2,495 The allocated allowance for loan losses attributable to restructured loans was $-0- The Company had no commitments to lend additional funds on these troubled debt restructurings at December 31, 2019. The Company utilizes a risk grading matrix to assign a risk grade to each of its loans when originated and is updated as factors related to the strength of the loan changes. Loans are graded on a scale of 1 to 9. A description of the general characteristics of the 9 risk grades is as follows. Grade 1. MINIMAL RISK - These loans are without loss exposure to the Company. This classification is reserved for only the best, well secured loans to borrowers with significant capital strength, low leverage, stable earnings and growth and other readily available financing alternatives. This type of loan would also include loans secured by a program of the government. Grade 2. MODEST RISK - These loans include borrowers with solid credit quality and moderate risk of loss. These loans may be fully secured by certificates of deposit with another reputable financial institution, or secured by readily marketable securities with acceptable margins. Grade 3. AVERAGE RISK - This is the rating assigned to most of the loans held by the Company. This includes loans with average loss exposure and average overall quality. These loans should liquidate through possessing adequate collateral and adequate earnings of the borrower. In addition, these loans are properly documented and are in accordance with all aspects of the current loan policy. Grade 4. ACCEPTABLE RISK - Borrower generates sufficient cash flow to fund debt service but most working asset and capital expansion needs are provided from external sources. Profitability and key balance sheet ratios are usually close to peers but one or more may be higher than peers. Grade 5. MANAGEMENT ATTENTION - Borrower has significant weaknesses resulting from performance trends or management concerns. The financial condition of the borrower has taken a negative turn and may be temporarily strained. Cash flow is weak but cash reserves remain adequate to meet debt service. Management weakness is evident. Grade 6. OTHER LOANS ESPECIALLY MENTIONED (“OLEM”) - Loans in this category are fundamentally sound but possess some weaknesses. OLEM loans have potential weaknesses, which may, if not checked or corrected, weaken the asset or inadequately protect the Bank’s credit position at some future date. These loans have an identifiable weakness in credit, collateral, or repayment ability but there is no expectation of loss. Grade 7. SUBSTANDARD ASSETS - Assets classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Assets classified as substandard must have a well-defined weakness based upon objective evidence. Assets classified as substandard are characterized by the distinct possibility that the insured institution will sustain some loss if the deficiencies are not corrected. The possibility that liquidation would not be timely requires a substandard classification even if there is little likelihood of total loss. Grade 8. DOUBTFUL - A loan classified as doubtful has all the weaknesses of a substandard classification and the added characteristic that the weakness makes collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable or improbable. The possibility of loss is extremely high, but because of certain important and reasonable specific pending factors that may work to the advantage and strengthening of the asset, its classification as an estimated loss is deferred until its more exact status may be determined. A doubtful classification could reflect the fact that the primary source of repayment is gone and serious doubt exists as to the quality of a secondary source of repayment. Grade 9. LOSS - Loans classified loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may occur in the future. Also included in this classification is the defined loss portion of loans rated substandard assets and doubtful assets. These internally assigned grades are updated on a continual basis throughout the course of the year and represent management’s most updated judgment regarding grades at December 31, 2019. The following table details the amount of gross loans by loan grade and class for the year ended December 31, 2019: Satisfactory Special Substandard Doubtful Loss Total Loans Real Estate: Land Development and Construction $ 64,112 $ 1,682 $ 634 $ — $ — $ 66,428 Farmland 14,533 331 731 — — 15,595 1-4 79,068 1,917 6,646 — — 87,631 Commercial Real Estate 169,270 21,266 17,068 — — 207,604 Total Real Estate Loans 326,983 25,196 25,079 — — 377,258 Business Loans: Commercial and Industrial Loans 80,289 128 4,194 — — 84,611 Farm Production and Other Farm Loans 669 — 4 — 10 683 Total Business Loans 80,958 128 4,198 — 10 85,294 Consumer Loans: Credit Cards 1,770 — 63 — — 1,833 Other Consumer Loans 11,907 59 53 41 — 12,060 Total Consumer Loans 13,677 59 116 41 — 13,893 Total Loans $ 421,618 $ 25,383 $ 29,393 $ 41 $ 10 $ 476,445 The following table details the amount of gross loans by loan grade and class for the year ended December 31, 2018: Satisfactory Special Mention Substandard Doubtful Loss Total Real Estate: Land Development and Construction $ 39,726 $ 840 $ 568 $ — $ — $ 41,134 Farmland 13,248 339 911 — — 14,498 1-4 79,659 1,751 7,337 — — 88,747 Commercial Real Estate 172,217 17,938 13,440 — — 203,595 Total Real Estate Loans 304,850 20,868 22,256 — — 347,974 Business Loans: Commercial and Industrial Loans 63,994 81 2,346 — — 66,421 Farm Production and Other Farm Loans 876 — 31 — — 907 Total Business Loans 64,870 81 2,377 — — 67,328 Consumer Loans: Credit Cards 1,628 — 20 — — 1,648 Other Consumer Loans 12,181 65 71 55 — 12,372 Total Consumer Loans 13,809 65 91 55 — 14,020 Total Loans $ 383,529 $ 21,014 $ 24,724 $ 55 $ — $ 429,322 |
Purchased Loans
Purchased Loans | 12 Months Ended |
Dec. 31, 2019 | |
Purchased Loans [Abstract] | |
Purchased loans | Note 6. Purchased Loans (In Thousands) For purposes of this Note 6, all references to “loans” means purchased loans. The following is a summary of purchased loans at December 31: 2019 2018 Real Estate: Land Development and Construction $ 14,722 $ — Farmland 510 — 1-4 35,952 — Commercial Real Estate 32,436 — Total Real Estate Loans 83,620 — Business Loans: Commercial and Industrial Loans 14,153 — Farm Production and Other Farm Loans 884 — Total Business Loans 15,037 — Consumer Loans: Credit Cards — — Other Consumer Loans 1,973 — Total Consumer Loans 1,973 — Total Gross Loans 100,630 — Unearned Income — — Loans, net of unearned income $ 100,630 $ — An age analysis of past due loans, segregated by class of loans, as of December 31, 2019 is as follows: Loans 30-89 Days Loans Past Due Total Past Current Total Loans Accruing 90 or more Past Due Real Estate: Land Development and Construction $ 528 $ — $ 528 $ 14,194 $ 14,722 $ — Farmland — — — 510 510 — 1-4 444 — 444 35,508 35,952 — Commercial Real Estate 603 — 603 31,833 32,436 — Total Real Estate Loans 1,576 — 965 82,044 83,620 — Business Loans: Commercial and Industrial Loans 379 3 382 13,771 14,153 — Farm Production and Other Farm Loans — — — 884 884 — Total Business Loans 379 3 382 14,655 15,037 — Consumer Loans: Credit Cards — — — — — — Other Consumer Loans 49 8 57 1,916 1,973 — Total Consumer Loans 49 8 57 1,916 1,973 — Total Loans $ 2,003 $ 11 $ 2,014 $ 98,615 $ 100,630 $ — There were no non credit deteriorated loans that were subsequently impaired and recognized in conformity with ASC 310 The following table details the amount of gross loans by loan grade which are consistent with the Company’s loan grades, and class for the year ended December 31, 2019: Special Satisfactory Mention Substandard Doubtful Loss Total 1,2,3,4 5,6 7 8 9 Loans Real Estate: Land Development and Construction $ 13,890 $ 789 $ 43 $ — $ — $ 14,722 Farmland 510 — — — — 510 1-4 33,737 1,535 680 — — 35,952 Commercial Real Estate 30,780 1,656 — — — 32,436 Total Real Estate Loans 78,917 3,980 723 — — 83,620 Business Loans: Commercial and Industrial Loans 13,545 608 — — — 14,153 Farm Production and Other Farm Loans 884 — — — — 884 Total Business Loans 14,429 608 — — — 15,037 Consumer Loans: Credit Cards — — — — — — Other Consumer Loans 1,937 36 — — — 1,973 Total Consumer Loans 1,937 36 — — — 1,973 Total Loans $ 95,283 $ 4,624 $ 723 $ — $ — $ 100,630 Loans purchased in business combinations that exhibited, at the date of acquisition, evidence of deterioration of the credit quality since origination, such that it was probable that all contractually required payments would not be collected, were as follows as of December 31, 2019: 2019 2018 Real Estate: Land Development and Construction $ 43 $ — Farmland — — 1-4 706 — Commercial Real Estate — — Total Real Estate Loans 749 — Total PCD Loans $ 749 $ — Non-accrual 1-4 The following table presents the fair value of loans determined to be impaired at the time of acquisition: Total Purchased Credit Deteriorated Loans Contractually-required principal $ 993 Nonaccretable difference (68 ) Cash flows expected to be collected 925 Accretable yield (36 ) Fair Value $ 889 Changes in the accretable yield of loans purchased with deteriorated credit quality were as follows: Balance at January 1, 2019 $ — Additions through acquisition (36 ) Reclasses from nonaccretable difference 12 Accretion 8 Charge-off — Balance at December 31, 2019 $ (16 ) There were no loans classified as TDRs purchased as part of the acquisition of Charter. The following table presents the fair value of loans purchased from Charter as of the October 1, 2019 acquisition date: October 1, 2019 At acquisition date: Contractually-required principal $ 104,127 Nonaccretable difference (68 ) Cash flows expected to be collected 104,059 Accretable yield (394 ) Fair Value $ 103,665 |
Allowance for Loan Losses
Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2019 | |
Accounts and Financing Receivable, after Allowance for Credit Loss, Noncurrent [Abstract] | |
Allowance for Loan Losses | N ote 7. Allowance for Loan Losses (in thousands) The allowance for loan losses is a reserve established through a provision for possible loan losses charged to expense, which represents management’s best estimate of probable losses that will occur within the existing portfolio of loans. The allowance, in the judgment of management, is necessary to reserve for estimated loan losses and risks inherent in the loan portfolio. The allowance on the majority of the loan portfolio is calculated using a historical chargeoff percentage applied to the current loan balances by loan segment. This historical period is the average of the previous five years with the most current years weighted to show the effect of the most recent chargeoff activity. This percentage is also adjusted for economic factors such as unemployment and general business conditions, both local and nationwide. The group of loans that are considered to be impaired are individually evaluated for possible loss and a specific reserve is established to cover any loss contingency. Loans that are determined to be a loss with no benefit of remaining in the portfolio are charged off to the allowance. These specific reserves are reviewed periodically for continued impairment and adequacy of the specific reserve and adjusted when necessary. The following table details activity in the allowance for loan losses by portfolio segment for the years ended December 31: Real Business 2019 Estate Loans Consumer Total Beginning Balance $ 2,845 $ 222 $ 305 $ 3,372 Provision for loan losses 231 247 95 573 Chargeoffs 115 107 138 360 Recoveries 114 9 47 170 Net chargeoffs 1 98 91 190 Ending Balance $ 3,075 $ 371 $ 309 $ 3,755 Period end allowance allocated to: Loans individually evaluated for impairment $ 610 $ 72 $ — $ 682 Loans collectively evaluated for impairment 2,465 299 309 3,073 Ending Balance $ 3,075 $ 371 $ 309 $ 3,755 Real Business 2018 Estate Loans Consumer Total Beginning Balance $ 2,151 $ 347 $ 521 $ 3,019 Provision for (reversal of) loan losses 606 (113 ) (159 ) 334 Chargeoffs 223 19 145 387 Recoveries 311 7 88 406 Net chargeoffs (88 ) 12 57 (19 ) Ending Balance $ 2,845 $ 222 $ 305 $ 3,372 Period end allowance allocated to: Loans individually evaluated for impairment $ 401 $ — $ — $ 401 Loans collectively evaluated for impairment 2,444 222 305 2,971 Ending Balance $ 2,845 $ 222 $ 305 $ 3,372 Real Business 2017 Estate Loans Consumer Total Beginning Balance $ 3,117 $ 258 $ 528 $ 3,903 Provision for (reversal of) loan losses (827 ) 254 30 (543 ) Chargeoffs 169 166 102 437 Recoveries 30 1 65 96 Net chargeoffs 139 165 37 341 Ending Balance $ 2,151 $ 347 $ 521 $ 3,019 Period end allowance allocated to: Loans individually evaluated for impairment $ 442 $ — $ — $ 442 Loans collectively evaluated for impairment 1,709 347 521 2,577 Ending Balance $ 2,151 $ 347 $ 521 $ 3,019 The Company’s recorded investment in loans as of December 31, 2019 and 2018 related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of the Company’s impairment methodology was as follows: 2019 Real Estate Business Consumer Total Loans individually evaluated for impairment $ 10,991 $ 144 $ — $ 11,135 Loans collectively evaluated for impairment 449,138 100,187 15,866 564,937 Acquired with deteriorated credit quality 749 — — 749 $ 460,878 $ 100,331 $ 15,866 $ 577,075 Real Business 2018 Estate Loans Consumer Total Loans individually evaluated for impairment $ 10,306 $ — $ — $ 10,306 Loans collectively evaluated for impairment 337,668 67,328 14,020 419,016 $ 347,974 $ 67,328 $ 14,020 $ 429,322 Net chargeoffs (recoveries), segregated by class of loans, were as follows: 2019 2018 2017 Real Estate: Land Development and Construction $ (18 ) $ 56 $ 98 Farmland — 3 — 1-4 32 51 41 Commercial Real Estate (13 ) (198 ) — Total Real Estate Loans 1 (88 ) 139 Business Loans: Commercial and Industrial Loans 98 12 165 Total Business Loans 98 12 165 Consumer Loans: Credit Cards 34 36 (7 ) Other Consumer Loans 57 21 44 Total Consumer Loans 91 57 37 Total Net Chargeoffs (Recoveries) $ 190 $ (19 ) $ 341 |
Bank Premises, Furniture, Fixtu
Bank Premises, Furniture, Fixtures and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Bank Premises, Furniture, Fixtures and Equipment | Note 8. Bank Premises, Furniture, Fixtures and Equipment (in thousands) Bank premises, furniture, fixtures and equipment consist of the following at December 31, 2019 and December 31, 2018: 2019 2018 Land and buildings $ 33,791 $ 27,052 Furniture, fixtures and equipment 8,447 6,012 42,238 33,064 Less accumulated depreciation 17,566 13,347 Total $ 24,672 $ 19,717 Depreciation expense for the years ended December 31, 2019, 2018 and 2017, respectively, was $899, $937, and $1,003. The Company leases certain premises and equipment under operating leases. At December 31, 2019, the Company had lease liabilities and ROU assets totaling $771 related to these leases. Lease liabilities and ROU assets are reflected in other liabilities and other assets, respectively. For the twelve months ended December 31, 2019, the weighted average remaining lease term for operating leases was 1.2 years and the weighted average discount rate used in the measurement of operating lease liabilities was 3.3%. Lease costs were as follows: Twelve Months Ended December 31, 2019 (in thousands) Operating lease cost $ 370 Short-term lease cost 23 Variable lease cost — $ 393 There were no sale and leaseback transactions, leverage leases or lease transactions with related parties during the twelve months ended December 31, 2019. A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows: December 31, 2019 Lease payments due: Within one year $ 348 After one year but within two years 312 After two years but within three years 139 After three year but within four years 2 After four years but within five years — After five years — Total undiscounted cash flows 801 Discount on cash flows (30 ) Total lease liability $ 771 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Note 9. Goodwill and Other Intangible Assets (in thousands) Changes in the carrying amount of goodwill during the years ended December 31, 2019 and 2018 were as follows: Total Balance at December 31, 2018 $ 3,150 Addition to goodwill from Charter acquisition 9,953 Balance at December 31, 2019 $ 13,103 The additions to goodwill in 2019 from the Charter acquisition represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in the relevant transaction. The Company is in the process of completing Charter’s final tax return, core processor conversion and analyzing potential unknown liabilities; as a result, the recorded balance of goodwill attributable to the Charter acquisition is subject to change in future periods. The following table provides a summary of finite-lived intangible assets as of the dates presented: 2019 2018 Core deposit intangible $ 766 $ — Accumulated amortization (27 ) — Total finite-lived intangible assets $ 739 $ — Core deposit intangible amortization expense for the years ended December 31, 2019, 2018 and 2017 was $27, $-0- $-0-, Year ending December 31, Amount 2020 $ 109 2021 109 2022 109 2023 109 2024 109 Thereafter 194 $ 739 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Deposits | Note 10. Deposits (in thousands) The composition of deposits as of December 31, 2019 and December 31, 2018 is as follows: 2019 2018 Non-interest $ 190,406 $ 170,030 NOW and money market accounts 369,354 298,220 Savings deposits 83,065 76,736 Time deposits, $250,000 or more 74,098 65,407 Other time deposits 182,073 145,829 Total $ 898,996 $ 756,222 The scheduled maturities of time deposits at December 31, 2019 are as follows: Year Ending December 31, Amount 2020 $ 137,630 2021 59,641 2022 27,709 2023 15,912 2024 15,279 $ 256,171 |
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Federal Home Loan Bank Advances | Note 11. Federal Home Loan Bank Advances (in thousands) Pursuant to collateral agreements with the FHLB, advances are collateralized by all of the Bank’s FHLB stock ($3,083 included in other assets at December 31, 2019) and qualifying first mortgages and other loans. As of December 31, 2019, the balance in qualifying first mortgages and other loans was $177,592. There were no outstanding FHLB advances at December 31, 2019 or December 31, 2018. |
Other Income and Other Expense
Other Income and Other Expense | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Other Income and Other Expense | Note 12. Other Income and Other Expense (in thousands) The following is a detail of the major income classifications that are included in other income under non-interest Other Income 2019 2018 2017 BOLI Insurance $ 471 $ 495 $ 528 Mortgage Loan Origination Income 320 363 340 Other Income 1,224 290 447 Total Other Income $ 2,015 $ 1,148 $ 1,315 The following is a detail of the major expense classifications that comprise the other expense line item in the income statement for the years ended December 31: Other Operating Expense 2019 2018 2017 Advertising $ 551 $ 640 $ 650 Office Supplies 973 975 1,009 Professional fees 1,668 561 515 FDIC and State Assessment 274 350 417 Telephone Expense 501 520 530 Postage and Freight (49 ) 567 545 Loan Collection Expense 286 288 472 Other Losses 73 243 463 Debit Card/ATM expense 551 471 413 Travel and Convention 200 207 255 Other expenses 2,402 2,582 2,801 Total Other Expense $ 7,430 $ 7,404 $ 8,070 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 13. Income Taxes (in thousands) Income tax expense consists of the following: 2019 2018 2017 Current payable (benefit) Federal $ 806 $ (181 ) $ 258 State 89 36 (72 ) 895 (145 ) 186 Deferred tax expense 459 973 3,885 Income tax expense $ 1,354 $ 828 $ 4,071 The differences between income taxes calculated at the federal statutory rate and income tax expense were as follows: 2019 2018 2017 Federal taxes based on statutory rate $ 1,524 $ 1,575 $ 2,643 State income taxes, net of federal benefit 145 133 (48 ) Tax-exempt (309 ) (487 ) (1,074 ) Revaluation of net deferred tax assets as a result of the Tax Cuts and Jobs Act — — 2,559 Other, net (6 ) (394 ) (9 ) Income tax expense $ 1,354 $ 828 $ 4,071 The Tax Cuts and Jobs Act (the “Tax Act”), enacted on December 22, 2017, among other things, permanently lowered the statutory federal corporate tax rate from 35% to 21%, effective for tax years including or beginning January 1, 2018. Under the guidance of ASC 740, “Income Taxes” (“ASC 740”), the Company revalued its net deferred tax assets on the date of enactment based on the reduction in the overall future tax benefit expected to be realized at the lower tax rate implemented by the new legislation. After reviewing the Company’s inventory of deferred tax assets and liabilities on the date of enactment and giving consideration to the future impact of the lower corporate tax rates and other provisions of the new legislation, the Company’s revaluation of its net deferred tax assets was $2,559, which was included in “Income tax expense” in the Consolidated Statements of Income for the year ended December 31, 2017. At December 31, 2019 and December 31, 2018, net deferred tax assets consist of the following: 2019 2018 Deferred tax assets Allowance for loan losses $ 937 $ 841 Deferred compensation liability 2,488 2,419 Net operating loss carryforward 1,000 — Other real estate owned 819 435 Acquisition fair value adjustments 130 — Unrealized loss on securities available-for-sale 262 4,978 Other 6 — Total 5,642 8,673 Deferred tax liabilities Premises and equipment 1,603 1,856 Core deposit intangible 184 — Other 171 183 Total 1,958 2,039 Net deferred tax asset $ 3,684 $ 6,634 The Company has evaluated the need for a valuation allowance related to the above deferred tax assets and, based on the weight of the available evidence, has determined that it is more likely than not that all deferred tax assets will be realized. As of December 31, 2019, the Company has no unrecognized tax benefits related to federal and state income tax matters. As of December 31, 2019, the Company has not accrued for interest and penalties related to uncertain tax positions. It is the Company’s policy to recognize interest or penalties related to income tax matters in income tax expense. The Company and the Bank file a consolidated United States federal income tax return. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service for the years ended December 31, 2016 through 2018. The Company and Bank’s state income tax returns are open to audit under the statute of limitations for the years ended December 31, 2016 through 2018. The Company acquired federal net operating losses as part of its Charter acquisition, with varying expiration periods. The federal net operating losses (“NOLs”) acquired were $4,848, including $2,060 created prior to 2018 and $2,788 created during 2019. As part of the Tax Act, the federal NOLs created by Charter during 2019 have an indefinite carryforward period. The federal NOLs created prior to 2018 begin to expire in 2028 and are expected to be fully utilized. |
Summarized Financial Informatio
Summarized Financial Information of Citizens Holding Company | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Summarized Financial Information of Citizens Holding Company | Note 14. Summarized Financial Information of Citizens Holding Company (in thousands) Summarized financial information of Citizens Holding Company, excluding the Bank, at December 31, 2019 a n Balance Sheets December 31, 2019 and 2018 2019 2018 Assets Cash (1) $ 1,736 $ 1,596 Investment in bank subsidiary (1) 110,892 82,002 Other assets (1) 172 268 Total assets $ 112,800 $ 83,866 Liabilities Other liabilities $ — $ — Shareholders’ equity 112,800 83,866 Total liabilities and shareholders’ equity $ 112,800 $ 83,866 (1) Fully or partially eliminates in consolidation. Income Statements Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Interest income (1) $ 2 $ 2 $ 2 Other income Dividends from bank subsidiary (1) 11,242 3,990 5,472 Equity in undistributed earnings (loss) of bank subsidiary (1) (4,965 ) 3,022 (1,349 ) Other income — — — Total other income 6,277 7,012 4,123 Other expense 462 446 459 Income before income taxes 5,817 6,568 3,666 Income tax benefit (85 ) (105 ) (38 ) Net income $ 5,902 $ 6,673 $ 3,704 (1) Eliminates in consolidation. Statements of Cash Flows Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Cash flows from operati n Net income $ 5,902 $ 6,673 $ 3,704 Adjustments to reconcile net income to net cash provided by operating activities Equity in undistributed loss (earnings) of the Bank 4,965 (3,022 ) 1,349 Stock compensation expense 163 170 211 Increase in other assets 97 84 266 Net cash provided by operating activities 11,127 3,905 5,530 Cash flows from investing activities Net cash paid in acquisition activities $ (6,113 ) $ — $ — Net cash used in investing activities (6,113 ) — — Cash flows from financing activities Dividends paid to shareholders $ (4,874 ) $ (4,706 ) $ (4,697 ) Proceeds from stock options — 27 93 Net cash used in financing activities (4,874 ) (4,679 ) (4,604 ) Net increase (decrease) in cash 140 (774 ) 926 Cash, beginning of year 1,596 2,370 1,444 Cash, end of year $ 1,736 $ 1,596 $ 2,370 The Bank is required to obtain approval from state regulators before paying dividends. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 15. Related Party Transactions (in thousands) The Company had, and may have in the future, banking transactions in the ordinary course of business with directors, significant shareholders, principal officers, their immediate families, and affiliated companies in which they are principal shareholders (commonly referred to as related parties). In management’s opinion, such loans are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated parties, and do not involve more than the normal risk of collectability at the time of the transaction. Activity in related party loans is detailed in tabular form in Note 5 of the notes to the Financial Statements. Deposits from related parties at December 31, 2019 and December 31, 2018 approximated $5,406 and $5,606, respectively. |
Off-Balance Sheet Financial Ins
Off-Balance Sheet Financial Instruments, Commitments and Contingencies and Concentrations of Risks | 12 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Off-Balance Sheet Financial Instruments, Commitments and Contingencies and Concentrations of Risks | Note 16. Off-Balance (in thousands) Commitments to Extend Credit In the ordinary course of business, the Company makes various commitments and incurs certain contingent liabilities to fulfill the financing needs of its customers. These commitments and contingent liabilities include commitments to extend credit and issue standby letters of credit. They involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheets. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. At December 31, 2019 and December 31, 2018, commitments related to unused lines of credit were $94,009 and $58,835, respectively, and standby letters of credit were $2,436 and $2,517, respectively. The fair value of such commitments is not materially different than stated values. As some of these commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company applies the same credit policies and standards as it does in the lending process when making these commitments. The collateral obtained is based upon the assessed credit worthiness of the borrower. Collateral held varies, but may include accounts receivable, crops, livestock, inventory, property and equipment, residential real estate and income-producing commercial properties. Interest Rate Risk The Company is principally engaged in providing short-term and medium-term installment, commercial and agricultural loans with interest rates that are fixed or fluctuate with the prime lending rate. These assets are primarily funded through short-term demand deposits and long-term certificates of deposit with variable and fixed rates. Accordingly, the Company is exposed to interest rate risk because in changing interest rate environments interest rate adjustments on assets and liabilities may not occur at the same time or in the same amount. The Company manages the overall rate sensitivity and mix of its asset and liability portfolio and attempts to minimize the effects that interest rate fluctuations will have on its net interest margin. Legal Proceedings We are a party to various legal proceedings such as claims and lawsuits arising in the course of our normal business activities. Although the ultimate outcome of all claims and lawsuits outstanding as of December 31, 2019 cannot be ascertained at this time, it is the opinion of management that these matters, when resolved, will not have a material adverse effect on our business, results of operations or financial condition. Concentration of Risk The Company makes commercial, residential and consumer loans throughout the state of Mississippi. A substantial portion of the customers’ abilities to honor their contracts is dependent on their business and the agricultural economy in the state. Although the Company’s loan portfolio is diversified, there is a relationship in this state and our operating regions between the agricultural economy and the economic performance of loans made to nonagricultural customers. The Company’s lending policies for agricultural and nonagricultural customers require loans to be well-collateralized and supported by cash flows. Credit losses from loans related to the agricultural economy are consistent with credit losses experienced in the portfolio as a whole. The concentration of credit in the regional agricultural economy is taken into consideration by management in determining the allowance for loan losses. See Note 5 for a summary of loans by type. |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Postemployment Benefits [Abstract] | |
Benefit Plans | Note 17. Benefit Plans (in thousands) The Company provides its employees with a profit sharing and savings plan, which allows employees to direct a percentage of their compensation into a tax deferred retirement account, subject to statutory limitations. To encourage participation, the Company provides a 50 percent matching contribution for up to a maximum of 3 percent of each participant’s compensation, plus discretionary non-matching In connection with the acquisition of Charter, the Company assumed the Charter Bank 401(k) Plan. The plan was terminated by Charter immediately prior to the acquisition where the Charter employees had the choice to rollover their account balance into the Company’s plan, rollover their account balance into another account or take a distribution. The final distribution of account balances has occurred. There was no impact on the Company’s consolidated financial statements as of and for the years ended December 31, 2019 associated with the plan. Deferred Compensation Plans The Company provides a deferred compensation plan covering its directors. Participants in the deferred compensation plan can defer a portion of their compensation for payment after attaining age 70. Life insurance contracts have been purchased which may be used to fund payments under the plan. Expenses related to this plan were $173, $194 and $190 for the plan years ended December 31, 2019, 2018 and 2017, respectively. The Company has also entered into deferred compensation arrangements with certain officers that provide for payments to such officers or their survivors after retirement. Life insurance policies have been purchased that may be used to fund all or a portion of the payments under these arrangements. The obligations of the Company under both the directors and officers deferred compensation arrangements are expensed on a systematic basis over the remaining expected service period of the individual directors and officers. Expenses related to this plan were $586, $535 and $522 for the plan years ended December 31, 2019, 2018 and 2017, respectively. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | Note 18. Regulatory Matters (in thousands) The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet the minimum regulatory capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material adverse effect on the Company. Under the regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines involving quantitative measures of the Company’s assets, liabilities and certain off-balance The FRB, FDIC and other federal banking agencies have established risk-based capital adequacy guidelines. These guidelines are intended to provide a measure of a bank’s capital adequacy that reflects the degree of risk associated with a bank’s operations. A banking organization’s risk-based capital ratios are obtained by dividing its qualifying capital by its total risk-adjusted assets and off-balance off-balance off-balance The Dodd-Frank Act requires the FRB, the Office of the Comptroller of the Currency (“OCC”) and the FDIC to adopt regulations imposing a continuing “floor” on the risk based capital requirements. In December 2010, the Basel Committee released a final framework for a strengthened set of capital requirements, known as “Basel III”. In July 2013, each of the U.S. federal banking agencies adopted final rules relevant to us: (1) the Basel III regulatory capital reforms; and (2) the “standardized approach of Basel II for non-core Beginning January 1, 2015, the Bank began to comply with the Basel III rules, which became effective on January 1, 2019. Among other things, the Basel III rules impact regulatory capital ratios of banking organizations in the following manner: • Create a new requirement to maintain a ratio of common equity Tier 1 capital to total risk-weighted assets of not less than 4.5%; • Increase the minimum leverage ratio to 4% for all banking organizations (currently 3% for certain banking organizations); • Increase the minimum Tier 1 risk-based capital ratio from 4% to 6%; and • Maintain the minimum total risk-based capital ratio at 8%. In addition, the Basel III rules will subject a banking organization to certain limitations on capital distributions and discretionary bonus payments to executive officers if the organization did not maintain a capital conservation buffer of common equity Tier 1 capital in an amount greater than 2.5% of its total risk-weighted assets. The capital conservation buffer increases the minimum common equity Tier 1 capital ratio to 7%, the minimum Tier 1 risk-based capital ratio to 8.5% and the minimum total risk-based capital ratio to 10.5% for banking organizations seeking to avoid the limitations on capital distributions and discretionary bonus payments to executive officers. The Basel III rules also changed the capital categories for insured depository institutions for purposes of prompt corrective action. Under the rules, to be well capitalized, an insured depository institution must maintain a minimum common equity Tier 1 capital ratio of at least 6.5%, a Tier 1 risk-based capital ratio of at least 8%, a total risk-based capital ratio of at least 10.0%, and a leverage capital ratio of at least 5%. In addition, the Basel III rules established more conservative standards for including an instrument in regulatory capital and imposed certain deductions from and adjustments to the measure of common equity Tier 1 capital. As of December 31, 2019 and 2018, the most recent regulatory notification categorized the Bank as well capitalized. There have been no conditions or events that would cause changes to the capital structure of the Company since this notification. To continue to be categorized as well capitalized under the regulatory framework for prompt corrective action, the Company would have to maintain minimum total risk-based, Tier I risk-based, and Tier I leverage ratios as disclosed below, in comparison with actual capital amounts and ratios: Minimum Capital Minimum Capital Requirement to be Requirement to be Adequately Actual Well Capitalized Capitalized Amount Ratio Amount Ratio Amount Ratio December 31, 2019 Citizens Holding Company Tier 1 leverage ratio $ 98,733 8.33 % $ 59,270 5.00 % $ 47,416 4.00 % Common Equity tier 1 capital ratio 98,733 8.33 % 77,051 6.50 % 53,343 4.50 % Tier 1 risk-based capital ratio 98,733 13.86 % 56,972 8.00 % 42,729 6.00 % Total risk-based capital ratio 102,488 14.39 % 71,215 10.00 % 56,972 8.00 % The Citizens Bank of Philadelphia Tier 1 leverage ratio $ 96,824 8.18 % $ 59,206 5.00 % $ 47,365 4.00 % Common Equity tier 1 capital ratio 96,824 8.18 % 76,968 6.50 % 53,285 4.50 % Tier 1 risk-based capital ratio 96,824 13.60 % 56,958 8.00 % 42,719 6.00 % Total risk-based capital ratio 100,579 14.13 % 71,198 10.00 % 56,958 8.00 % December 31, 2018 Citizens Holding Company Tier 1 leverage ratio $ 95,691 9.93 % $ 48,191 5.00 % $ 38,553 4.00 % Common Equity tier 1 capital ratio 95,691 9.93 % 62,648 6.50 % 43,372 4.50 % Tier 1 risk-based capital ratio 95,691 17.41 % 43,966 8.00 % 32,974 6.00 % Total risk-based capital ratio 99,063 18.03 % 54,957 10.00 % 43,966 8.00 % The Citizens Bank of Philadelphia Tier 1 leverage ratio $ 93,827 9.74 % $ 48,178 5.00 % $ 38,542 4.00 % Common Equity tier 1 capital ratio 93,827 9.74 % 62,631 6.50 % 43,360 4.50 % Tier 1 risk-based capital ratio 93,827 17.08 % 43,944 8.00 % 32,958 6.00 % Total risk-based capital ratio 97,199 17.69 % 54,930 10.00 % 43,944 8.00 % |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 19. Fair Values of Financial Instruments (in thousands) Under the authoritative guidance on fair value measurements, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various methods including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions about risk and or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on the observability of the inputs used in the valuation techniques, the Company is required to provide the following information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the three following categories: Level 1 Quoted prices in active markets for identical assets or liabilities; Level 2 Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or Level 3 Unobservable inputs, such as discounted cash flow models or valuations. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company used the following methods and assumptions to estimate the fair value of financial instruments that are measured at fair value on a recurring basis: Investment Securities The fair values of debt securities available for sale are determined by third party matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The following table presents investment securities that are measured at fair value on a recurring basis as of December 31, 2019: Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Totals Securities available for sale Obligations of U.S. Government agencies $ — $ 97,111 $ — $ 97,111 Mortgage-backed securities — 306,900 — 306,900 State, County, Municipals — 60,372 — 60,372 $ — $ 464,383 $ — $ 464,383 The following table presents investment securities that are measured at fair value on a recurring basis as of December 31, 2018: Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Totals Securities available for sale Obligations of U.S. Government agencies $ — $ 95,978 $ — $ 95,978 Mortgage-backed securities — $ 247,374 — 247,374 State, County, Municipals — $ 101,394 — 101,394 $ — $ 444,746 $ — $ 444,746 Impaired Loans Loans considered impaired are reserved for at the time the loan is identified as impaired taking into account the fair value of the collateral less estimated selling costs. Collateral may be real estate and/or business assets including but not limited to, equipment, inventory and accounts receivable. The fair value of real estate is determined based on appraisals by qualified licensed appraisers. The fair value of the business assets is generally based on amounts reported on the business’s financial statements. Appraised and reported values may be adjusted based on management’s historical knowledge, changes in market conditions from the time of valuation and management knowledge of the client and the client’s business. Since not all valuation inputs are observable, these nonrecurring fair value determinations are classified Level 3. The unobservable inputs may vary depending on the individual assets with the fair value of real estate based on appraised value being the predominant approach. The Company reviews the certified appraisals for appropriateness and adjusts the value downward to consider selling, closing and liquidation costs, which typically approximates 25% of the appraised value. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors previously identified. Other real estate owned OREO is primarily comprised of real estate acquired in partial or full satisfaction of loans. OREO is recorded at its estimated fair value less estimated selling and closing costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the ALLL. Subsequent changes in fair value are reported as adjustments to the carrying amount and are recorded against earnings. The Company outsources the valuation of OREO with material balances to third party appraisers. The Company reviews the third-party appraisal for appropriateness and adjusts the value downward to consider selling and closing costs, which typically approximate 25% of the appraised value. The following table presents assets measured at fair value on a nonrecurring basis during December 31, 2019 and 2018 and were still held at those respective dates: Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Totals December 31, 2019 Impaired loans $ — $ — $ 4,576 $ 4,576 $ — $ — $ 4,576 $ 4,576 December 31, 2018 Impaired loans $ — $ — $ 3,365 $ 3,365 Other real estate owned — — 189 189 $ — $ — $ 3,554 $ 3,554 Impaired loans with a carrying value of $5,003 and $3,365 had an allocated allowance for loan losses of $427 and $401 at December 31, 2019 and December 31, 2018, respectively. The allocated allowance is based on the carrying value of the impaired loan and the fair value of the underlying collateral less estimated costs to sell. After monitoring the carrying amounts for subsequent declines or impairment after foreclosure, management determined that no s or The following represents the carrying value and estimated fair value of the Company’s financial instruments at December 31, 2019 and December 31, 2018: Carrying Value Quoted Prices Significant Other Observable Inputs Significant Total Fair Value 2019 (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 15,937 $ 15,937 $ — $ — $ 15,937 Interest bearing deposits with banks 58,557 58,557 — — 58,557 Federal funds sold 1,600 1,600 — — 1,600 Securities available-for-sale 464,383 — 464,383 — 464,383 Net loans 573,312 — — 569,640 569,640 Financial liabilities Deposits $ 898,996 $ 642,825 $ 258,100 $ — $ 900,925 Securities Sold under Agreement to Repurchase 170,410 170,410 — — 170,410 Carrying Value Quoted Prices Significant Other Observable Inputs Significant Total Fair Value 2018 (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 12,592 $ 12,592 $ — $ — $ 12,592 Interest bearing deposits with banks 8,080 8,080 — — 8,080 Securities available-for-sale 444,746 — 444,746 — 444,746 Net loans 425,905 — — 420,992 420,992 Financial liabilities Deposits $ 756,222 $ 544,986 $ 210,477 $ — $ 755,463 Securities Sold under Agreement to Repurchase 107,965 107,965 — — 107,965 |
Stock Based Compensation
Stock Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation | Note 20. Stock Based Compensation (in thousands, except share data) The Company has a directors’ stock compensation plan and had an employees’ long-term incentive plan. Under the directors’ plan, the Company may grant options for up to 210,000 shares of common stock. The price of each option is equal to the market price determined as of the option grant date. Options granted are exercisable after six months and expire after 10 years. The employee plan expired on April 13, 2009, no options have been granted since this date and all previously granted options either expired or were exercised as of December 31, 2019. The options previously granted under the employee plan expire 10 years from the grant date. The exercise price is equal to the market price of the Company’s stock on the date of grant. The fair value of each option granted is estimated on the date of the grant using the Black-Sholes option-pricing model. No options were granted in 2019 or 2018, therefore no calculations were required in 2019 or 2018 to determine fair values. The Company has adopted the 2013 Incentive Compensation Plan (the “2013 Plan”), which the Company has used for all equity grants after the adoption and approval of the 2013 Plan. During 2019, the Company’s directors received restricted stock grants totaling 7,500 shares of common stock at a then market value of $21.53 per share and in 2018 received 7,500 shares of common stock at a then market value of $22.05 per share. These grants vest over a one-year one-year one-year During 2015, 7,500 shares of restricted stock was granted to the Chief Executive Officer (CEO) that would vest according to a stock performance schedule over the next five years. The stock performance for the Company met the goal for 2016 and the CEO became vested in 20%, or 1,500 shares of the restricted stock at an expense of $32. Again in 2017, the Company met 20% of its goal and the CEO became vested in an additional 1,500 shares of the restricted stock at an expense of $37. The stock performance for the Company did not meet the goal in 2019 or 2018 and no corresponding expense was recorded. During 2019 and 2018, the Company recorded expense of $163 and $170 and recorded deferred taxes in the amounts of $41 and $42, respectively, related to all of the restricted shares. At December 31, 2019, there were 12,000 shares non-vested Following is a summary of the status of the stock options remaining under the plans for the years ending December 31, 2019, 2018 and 2017: Directors’ Plan Number of Shares Weighted Outstanding at January 1, 2017 78,000 $ 21.08 Granted — — Exercised (6,000 ) 20.94 Expired (9,000 ) 22.00 Outstanding at December 31, 2017 63,000 $ 20.96 Granted — — Exercised (6,000 ) 18.00 Expired (4,500 ) 18.00 Outstanding at December 31, 2018 52,500 $ 21.55 Granted — — Exercised — — Expired (12,000 ) 21.75 Outstanding at December 31, 2019 40,500 $ 21.49 Options exercisable at: December 31, 2019 40,500 $ 21.49 The following table presents the outstanding stock options granted in relation to the option price and the weighted average maturity. Options Weighted Weighted Average Range of Exercise Prices Outstanding Average Price Life Remaining $15.01 to $20.00 13,500 18.76 2 years, 4 months $20.01 to $22.50 13,500 20.02 1 year, 4 months $22.51 and above 13,500 25.72 4 months Total 40,500 $ 21.49 1 years, 4 months The intrinsic value of options outstanding under the Directors’ Plan at December 31, 2019 was $52. Additionally, the total intrinsic value of options exercised during 2019 and 2018 was $-0- There were no options granted during 2019 under the 2013 Plan. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Nature of Business | Nature of Business Citizens Holding Company (referred to herein as the “Company”) owns and operates The Citizens Bank of Philadelphia (the “Bank”). In addition to full service commercial banking, the Bank offers title insurance services through its subsidiary, Title Services LLC. As a state bank, the Bank is subject to regulations of the Mississippi Department of Banking and Consumer Finance and the Federal Deposit Insurance Company. The Company is also subject to the regulations of the Federal Reserve. The area served by the Bank is east central, several southern and northern counties of Mississippi and the surrounding areas. Services are provided at multiple branch offices. |
Basis of Financial Statement Presentation | Basis of Financial Statement Presentation The accounting policies of the Company and its subsidiary conform to generally accepted accounting principles (“GAAP”) in the United States of America and to general practices within the banking industry. The consolidated financial statements of the Company include the accounts of the Bank and its subsidiary (collectively, the “Company”). All significant intercompany transactions have been eliminated in consolidation. |
Estimates | Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with the determination of the allowance for loan losses and valuation of foreclosed real estate, management obtains independent appraisals for significant properties. While management uses available information to recognize losses on loans and to value foreclosed real estate, future additions to the allowance or adjustments to the valuation may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses and valuations of foreclosed real estate. Such agencies may require the Company to recognize additions to the allowance or to make adjustments to the valuation based on their judgments about information available to them at the time of their examination. Due to these factors, it is reasonably possible that the allowance for loan losses and valuation of foreclosed real estate may change materially in the near term. |
Cash, Due from Banks and Interest Bearing Deposits with Other Banks | Cash, Due from Banks and Interest Bearing Deposits with Other Banks For the purpose of reporting cash flows, cash and due from banks includes cash on hand and demand deposits. Cash flows from loans originated by the Company, deposits, and federal funds purchased and sold are reported net in the statement of cash flows. The Company is required to maintain average reserve balances with the Federal Reserve Bank based on a percentage of deposits. Interest-bearing deposits with other banks mature within one year and are carried at cost. |
Investment Securities | Investment Securities In accordance with the investments topic of the Accounting Standards Codification (“ASC”), securities are classified as “available-for-sale,” “held-to-maturity” |
Securities Available-for-Sale | Securities Available-for-Sale Securities that are held for indefinite periods of time or used as part of the Company’s asset/liability management strategy and that may be sold in response to interest rate changes, changes in prepayment risk, the need to increase regulatory capital and other similar factors are classified as available-for-sale available-for-sale |
Securities Held to Maturity | Securities Held to Maturity Securities that are held-to-maturity Realized gains or losses, determined on the basis of the cost of specific securities sold, are included in earnings. The amortization of premiums and accretion of discounts are recognized in interest income. The Company periodically reviews its securities for impairment based upon a number of factors, including but not limited to, length of time and extent to which the fair value has been less than cost, the likelihood of the security’s ability to recover any decline in its fair value, financial condition of the underlying issuer, ability of the issuer to meet contractual obligations and ability to retain the security for a period of time sufficient to allow for recovery in fair value. Impairments on securities are recognized when management, based on its analysis, deems the impairment to be other-than-temporary. Disclosures about unrealized losses in the Company’s securities portfolio that have not been recognized as other-than-temporary impairments are provided in Note 3. |
Loans and Allowance for Loan Losses | Loans and Allowance for Loan Losses Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal amount outstanding, net of unearned income and an allowance for loan losses. The Company has no loans held-for-sale. Unearned income includes deferred fees net of deferred direct incremental loan origination cost. Unearned income attributable to loans held with a maturity of more than one year is recognized as income or expense over the life of the loan. Unearned discounts on installment loans are recognized as income over the terms of the loans by a method that approximates the interest method. Unearned income and interest on commercial loans are recognized based on the principal amount outstanding. For all other loans, interest is accrued daily on the outstanding balances. For impaired loans, interest is discontinued on a loan when management believes, after considering collection efforts and other factors, that the borrower’s financial condition is such that collection of interest is doubtful. Cash collections on impaired loans are credited to the loan receivable balance, and no interest income is recognized on those loans until the principal balance has been collected. The Company generally discontinues the accrual of interest income when a loan becomes 90 days past due as to principal or interest; however, management may elect to continue the accrual when the estimated net realizable value of collateral is sufficient to cover the principal balance and the accrued interest. Interest income on other nonaccrual loans is recognized only to the extent of interest payments. Upon discontinuance of the accrual of interest on a loan, any previously accrued but unpaid interest is reversed against interest income. A loan is impaired when management determines that it is probable the Company will be unable to collect all contractual principal and interest payments due in accordance with the terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. The amount of impairment, if any, and any subsequent changes are included in the allowance for loan losses. Troubled debt restructurings (“TDR”) are those for which concessions have been granted to the borrower due to a deterioration of the borrower’s financial condition. Such concessions may include reduction in interest rates or deferral of interest or principal payments. In evaluating whether to restructure a loan, management analyzes the long-term financial condition of the borrower, including guarantor and collateral support, to determine whether the proposed concessions will increase the likelihood of repayment of principal and interest. TDR are classified as performing, unless they are on nonaccrual status of 90 days or more delinquent, in which case they are considered nonperforming. The allowance for loan losses is established through a provision for loan losses charged against net income. Loans determined to be uncollectible are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. The allowance represents an amount, which, in management’s judgment, will be adequate to absorb estimated probable losses on existing loans that may become uncollectible. In order to determine an adequate level of allowance, management utilizes a model that calculates the allowance for loan loss by applying an average historical charge-off Large groups of small-balance homogenous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment disclosures. Business Combinations, Accounting for Credit-Deteriorated Purchased Loans and Related Assets Business combinations are accounted for by applying the acquisition method in accordance with ASC 805, “Business Combinations.” Under the acquisition method, identifiable assets acquired and liabilities assumed and any non-controlling Loans purchased in business combinations with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected are considered to be credit-impaired. Purchased credit deteriorated loans are accounted for in accordance with ASC 310-30, 310-30”), |
Bank Premises, Furniture, Fixtures and Equipment | Bank Premises, Furniture, Fixtures and Equipment The Company’s premises, furniture, fixtures and equipment are stated at cost less accumulated depreciation computed by straight-line methods over the estimated useful lives of the assets, which range from three to forty years. Costs of major additions and improvements are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred. |
Other Real Estate Owned | Other Real Estate Owned Other real estate owned (“OREO”) consists of properties repossessed by the Company on foreclosed loans. These assets are stated at fair value at the date acquired less estimated costs to sell. Losses arising from the acquisition of such property are charged against the allowance for loan losses. Declines in value resulting from subsequent revaluation of the property or losses resulting from disposition of such property are expensed as incurred. Revenue and expenses from operations of other real estate owned are reflected as other income (expense). |
Cash Surrender Value of Life Insurance | Cash Surrender Value of Life Insurance The Company has purchased life insurance contracts on certain employees and directors. Certain of such policies were acquired to fund deferred compensation arrangements with employees and directors. The cash surrender value of the Company owned policies is carried at the actual cash surrender value of the policy at the balance sheet date. Changes in the value of the policies are classified in non-interest |
Intangible Assets | Intangible Assets Intangible assets include core deposits purchased and goodwill. Core deposit intangibles are amortized on a straight-line basis over their estimated economic lives ranging from 5 to 10 years. Goodwill and other intangible assets with indefinite lives are not amortized but are tested at least annually for impairment. Fair values are determined based on market valuation multiples for the Company and comparable businesses based on the assets and cash flow of the Bank, the Company’s only reportable segment. If impairment has occurred, the goodwill or other intangible asset is reduced to its estimated fair value through a charge to expense. |
Trust Assets | Trust Assets Assets held by the trust department of the Company in its fiduciary or agency capacities are not assets of the Company and are not included in the consolidated financial statements. |
Income Taxes | Income Taxes Provisions for income taxes are based on taxes payable or refundable for the current year and the changes in deferred tax assets and liabilities, excluding components of other comprehensive income. Deferred tax assets and liabilities are included in the financial statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled. As ch a |
Comprehensive Income (Loss) | Comprehensive Income (Loss) Comprehensive income (loss) includes net earnings reported in the consolidated statements of income and changes in unrealized gain (loss) on securities available-for-sale available-for-sale, |
Net Income Per Share | Net Income Per Share Net income per share-basic is computed by dividing net income by the weighted average number of common shares outstanding during the year. Net income per share-diluted is based on the weighted average number of shares of common stock outstanding for the periods, including the dilutive effect of the Company’s outstanding stock options and restricted stock grants. The effect of the dilutive shares for the years 2019, 2018 and 2017 is illustrated in the following table. 2019 2018 2017 Basic weighted average shares outstanding 5,063,736 4,889,420 4,878,691 Dilutive effect of stock options 2,367 9,798 17,157 Dilutive weighted average shares outstanding 5,066,103 4,899,218 4,895,848 Net income $ 5,902 $ 6,673 $ 3,704 Net income per share-basic $ 1.17 $ 1.36 $ 0.76 Net income per share-diluted $ 1.17 $ 1.36 $ 0.76 |
Advertising Costs | Advertising Costs Advertising costs are charged to expense when incurred. Advertising expense was $551, $640 and $650 for the years ended December 31, 2019, 2018 and 2017, respectively. |
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at the amounts at which the securities were sold. Securities, generally United States Government, federal agency and state county municipal securities, pledged as collateral under these financing arrangements cannot be sold or re-pledged |
Reclassifications | Reclassifications Certain information for 2017 and 2018 has been reclassified to conform to the financial presentation for 2019. Such reclassifications had no effect on net income or shareholders’ equity. |
Stock-Based Compensation | Stock-Based Compensation At December 31, 2019, the Company had outstanding grants under two stock-based compensation plans, which are the 1999 Directors’ Stock Compensation Plan and the 2013 Incentive Compensation Plan. Compensation expense for option grants and restricted stock awards is determined based on the estimated fair value of the stock options and restricted stock on the applicable grant or award date. The Company has elected to account for forfeitures in compensation cost when they occur as permitted under the guidance in ASC 718, “Compensation—Stock Compensation” (“ASC 718”). Expense associated with the Company’s stock-based compensation is included under the line item “Salaries and benefits” on the Consolidated Statements of Income. The Company recognizes compensation expense for all share-based payments to employees in accordance with ASC 718, “Compensation – Stock Compensation.” See Note 19 for further details regarding the Company’s stock-based compensation. |
Subsequent Events | Subsequent Events The Company has evaluated, for consideration of recognition or disclosure, subsequent events that have occurred through the date of issuance of its financial statements, and has determined that no significant events occurred after December 31, 2019 but prior to the issuance of these financial statements that would have a material impact on its Consolidated Financial Statements. |
Recently Issued Accounting Pronouncements | Adoption of New Accounting Standards ASU 2016-02 2016-02”) 2016-02 2016-02 2016-02 2016-02, The Company’s operating leases relate primarily to branch properties and related equipment. As a result of implementing ASU 2016-02, right-of-use financial Newly Issued, But Not Yet Effective Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments 2016-13”). 2016-13 2016-13 2016-13 were ori ginally 2016-13 2016-13 2016-13 ASU 2018-13 Fair Value Measurement (Topic 820) – Changes in the Disclosure Requirements for Fair Value Measurement 2018-13”) 2018-13 In January 2017, FASB issued ASU 2017-04, “ Intangibles - Goodwill and Other (Topic 350) . In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Effect of Dilutive Shares | The effect of the dilutive shares for the years 2019, 2018 and 2017 is illustrated in the following table. 2019 2018 2017 Basic weighted average shares outstanding 5,063,736 4,889,420 4,878,691 Dilutive effect of stock options 2,367 9,798 17,157 Dilutive weighted average shares outstanding 5,066,103 4,899,218 4,895,848 Net income $ 5,902 $ 6,673 $ 3,704 Net income per share-basic $ 1.17 $ 1.36 $ 0.76 Net income per share-diluted $ 1.17 $ 1.36 $ 0.76 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Schedule of assets acquired liabilities assumed in business combination | The following table summarizes the allocation of purchase price to assets and liabilities acquired in connection with the Company’s acquisition of Charter based on their fair values on October 1, 2019. Purchase Price: Shares issued to common shareholders 666,101 Purchase price per share $ 20.35 Value of stock paid $ 13,555 Cash consideration paid 6,110 Cash paid for fractional shares 3 Total Purchase Price $ 19,668 Net Assets Acquired: Stockholders’ equity at transaction date $ 11,383 Increase (decrease) to net assets as a result of fair value adjustments to assets acquired and liabilities assumed: Securities (237 ) Loans, including loans held for sale (347 ) Premises and equipment (1,252 ) Intangible assets 575 Other assets (272 ) Deposits (135 ) Total Net Assets Acquired 9,715 Goodwill resulting from merger $ 9,953 |
Schedule of assets acquired liabilities assumed in business combination | The following table summarizes the fair value on October 1, 2019 of assets acquired and liabilities assumed at acquisition date in connection with the merger with Charter. Cash and cash equivalents $ 7,343 Investment securities available for sale 26,607 Loans 103,665 Premises and equipment 4,813 Intangible assets 10,719 Other assets 3,957 Total assets 157,104 Deposits 126,316 Borrowings 8,969 Other l 2,151 Total liabilities $ 137,436 |
schedule of proforma informa related to business combination | (Unaudited) Year Ended December 31, 2019 2018 Net interest income - pro forma $ 29,237 $ 32,206 Noninterest income - pro forma $ 10,090 $ 9,014 Noninterest expense - pro forma $ 35,075 $ 32,714 Net income - pro forma $ 2,692 $ 6,982 Earnings per share - pro forma Basic $ 0.53 $ 1.43 Diluted $ 0.53 $ 1.43 |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Securities Available-for-Sale | The amortized cost and estimated fair value of securities available-for-sale Gross Gross Amortized Unrealized Unrealized 2019 Cost Gains Losses Fair Value Securities available-for-sale Obligations of U.S. Government agencies $ 97,400 $ — $ 289 $ 97,111 Mortgage-backed securities 308,310 640 2,050 306,900 State, County, Municipals 59,724 708 60 60,372 Total $ 465,434 $ 1,348 $ 2,399 $ 464,383 Gross Gross Amortized Unrealized Unrealized 2018 Cost Gains Losses Fair Value Securities available-for-sale Obligations of U.S. Government agencies $ 99,366 $ — $ 3,388 $ 95,978 Mortgage-backed securities 259,742 5 12,373 247,374 State, County, Municipals 105,591 67 4,264 101,394 Total $ 464,699 $ 72 $ 20,025 $ 444,746 |
Summary of Unrealized Loss Information for Available-for-sale Securities | A summary of unrealized loss information for AFS securities, categorized by security type follows: December 31, 2019 Less than 12 months 12 months or more Total Description of Securities Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Obligations of U.S. Government agencies $ 76,682 217 $ 20,429 72 $ 97,111 289 Mortgage backed securities 101,730 871 76,630 1,179 178,360 2,050 State, County, Municipal 8,280 37 3,731 23 12,011 60 Total $ 186,692 1,125 $ 100,790 1,274 $ 287,482 2,399 December 31, 2018 Less than 12 months 12 months or more Total Description of Securities Fair Unrealized Fair Value Unrealized Fair Value Unrealized Obligations of U.S. Government agencies $ — — $ 95,978 3,388 $ 95,978 3,388 Mortgage backed securities 12,258 179 234,929 12,194 247,187 12,373 State, County, Municipal 12,624 285 76,536 3,979 89,160 4,264 Total $ 24,882 464 $ 407,443 19,561 $ 432,325 20,025 |
Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity | The amortized cost and estimated fair value of securities at December 31, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Fair Value Securities AFS Due in one year or less $ 345 $ 345 Due after one year through five years 89,920 89,681 Due after five years through ten years 18,678 18,808 Due after ten years 48,181 48,649 Residential mortgage backed securities 259,309 258,415 Commercial mortgage backed securities 49,001 48,485 Total $ 465,434 $ 464,383 |
Total Gross Realized Gains and Gross Realized Losses from Sale of Investment Securities | Gross realized gains and losses are included in net gains on sales of securities. Total gross realized gains and gross realized losses from the sale of investment securities for each of the years ended December 31 were: 2019 2018 2017 Gross realized gains $ 414 $ 171 $ 633 Gross realized losses 223 160 528 Net realized gains $ 191 $ 11 $ 105 |
Non Purchased Loans (Tables)
Non Purchased Loans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Activity in Related Party Loans | Activity in related party loans during 2019 is presented in the following table. Balance outstanding at December 31, 2018 $ 2,941 Principal additions 190 Principal reductions (2,744 ) Balance outstanding at December 31, 2019 $ 387 |
Period-End, Non-Accrual Loans, Segregated by Class | Year-end non-accrual 2019 2018 Real Estate: Land Development and Construction $ 111 $ — Farmland 232 200 1-4 2,160 1,831 Commercial Real Estate 9,082 7,612 Total Real Estate Loans 11,585 9,643 Business Loans: Commercial and Industrial Loans 338 76 Farm Production and Other Farm Loans 10 31 Total Business Loans 348 107 Consumer Loans: Other Consumer Loans 60 89 Total Consumer Loans 60 89 Total non-accrual $ 11,993 $ 9,839 |
Impaired Loans, Segregated by Class of Loans | Impaired loans as of December 31, by class of loans, are as follows: 2019 Unpaid Recorded Recorded Total Related Average Real Estate: Land Development and Construction $ 111 $ 58 $ 53 $ 111 $ 16 $ 56 Farmland 252 252 — 252 — 261 1-4 839 740 99 839 28 996 Commercial Real Estate 11,506 5,949 3,840 9,789 566 9,337 Total Real Estate Loans 12,708 6,999 3,992 10,991 610 10,649 Business: Commercial and Industrial 144 — 144 144 72 72 Total Business Loans 144 — 144 144 72 72 Total Loans $ 12,852 $ 6,999 $ 4,136 $ 11,135 $ 682 $ 10,721 2018 Unpaid Recorded Recorded Total Related Average Real Estate: Land Development and Construction $ — $ — $ — $ — $ — $ — Farmland 269 269 — 269 — 135 1-4 1,153 1,062 91 1,153 27 728 Commercial Real Estate 10,601 5,209 3,675 8,884 374 6,489 Total Real Estate Loans 12,023 6,540 3,766 10,306 401 7,352 Total Loans $ 12,023 $ 6,540 $ 3,766 $ 10,306 $ 401 $ 7,352 |
Troubled Debt Restructurings Segregated by Class | The following table presents troubled debt restructurings segregated by class: December 31, 2019 Number of Pre-Modification Post-Modification Commercial real estate 3 $ 4,871 $ 2,495 Total 3 $ 4,871 $ 2,495 December 31, 2018 Number of Pre-Modification Post-Modification Commercial real estate 3 $ 4,871 $ 2,782 Total 3 $ 4,871 $ 2,782 |
Changes in Troubled Debt Restructurings | Changes in the Company’s troubled debt restructurings are set forth in the table below: Number of Recorded Total at January 1, 2017 3 $ 3,288 Reductions due to: Principal paydowns (241 ) Total at January 1, 2018 3 3,047 Reductions due to: Principal paydowns (265 ) Total at January 1, 2019 3 2,782 Reductions due to: Principal paydowns (287 ) Total at December 31, 2019 3 $ 2,495 |
Financial assets non purchased loans [Member] | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Composition of Net Loans | The composition of loans, net at December 31, 2019 and 2018 is as follows: 2019 2018 Real Estate: Land Development and Construction $ 66,428 $ 41,134 Farmland 15,595 14,498 1-4 87,631 88,747 Commercial Real Estate 207,604 203,595 Total Real Estate Loans 377,258 347,974 Business Loans: Commercial and Industrial Loans 84,611 66,421 Farm Production and Other Farm Loans 683 907 Total Business Loans 85,294 67,328 Consumer Loans: Credit Cards 1,833 1,648 Other Consumer Loans 12,060 12,372 Total Consumer Loans 13,893 14,020 Total Gross Loans 476,445 429,322 Unearned Income (8 ) (45 ) Allowance for Loan Losses (3,755 ) (3,372 ) Loans, net $ 472,682 $ 425,905 |
Aging Analysis of Past Due Loans, Segregated by Class | An age analysis of past due loans, segregated by class of loans, as of December 31, 2019 is as follows: Accruing Loans Loans Loans 90 or more 90 or more 30-89 Days Days Past Total Past Current Total Loans Days Past Due Real Estate: Land Development and Construction $ 736 $ — $ 736 $ 65,692 $ 66,428 $ — Farmland 171 39 210 15,385 15,595 39 1-4 3,116 777 3,893 83,738 87,631 147 Commercial Real Estate 8,511 2,080 10,591 197,013 207,604 18 Total Real Estate Loans 12,534 2,896 15,430 361,828 377,258 204 Business Loans: Commercial and Industrial Loans 586 312 898 83,713 84,611 52 Farm Production and Other Farm Loans 17 — 17 666 683 — Total Business Loans 603 312 915 84,379 85,294 52 Consumer Loans: Credit Cards 45 18 63 1,770 1,833 18 Other Consumer Loans 172 42 214 11,846 12,060 — Total Consumer Loans 217 60 277 13,616 13,893 18 Total Loans $ 13,354 $ 3,268 $ 16,622 $ 459,823 $ 476,445 $ 274 An age analysis of past due loans, segregated by class of loans, as of December 31, 2018 is as follows: Accruing Loans Loans Loans 90 or more 90 or more 30-89 Days Days Total Past Current Total Days Past Due Past Due Due Loans Loans Loans Past Due Real Estate: Land Development and Construction $ 1,494 $ 54 $ 1,548 $ 39,586 $ 41,134 $ 54 Farmland 779 29 808 13,690 14,498 — 1-4 3,456 330 3,786 84,961 88,747 — Commercial Real Estate 1,059 2,981 4,040 199,555 203,595 — Total Real Estate Loans 6,788 3,394 10,182 337,792 347,974 54 Business Loans: Commercial and Industrial Loans 1,672 21 1,693 64,728 66,421 — Farm Production and Other Farm Loans 9 — 9 898 907 — Total Business Loans 1,681 21 1,702 65,626 67,328 — Consumer Loans: Credit Cards 16 4 20 1,628 1,648 4 Other Consumer Loans 212 33 245 12,127 12,372 15 Total Consumer Loans 228 37 265 13,755 14,020 19 Total Loans $ 8,697 $ 3,452 $ 12,149 $ 417,173 $ 429,322 $ 73 |
Detailed Amount of Gross Loans Segregated by Loan Grade and Class | The following table details the amount of gross loans by loan grade and class for the year ended December 31, 2019: Satisfactory Special Substandard Doubtful Loss Total Loans Real Estate: Land Development and Construction $ 64,112 $ 1,682 $ 634 $ — $ — $ 66,428 Farmland 14,533 331 731 — — 15,595 1-4 79,068 1,917 6,646 — — 87,631 Commercial Real Estate 169,270 21,266 17,068 — — 207,604 Total Real Estate Loans 326,983 25,196 25,079 — — 377,258 Business Loans: Commercial and Industrial Loans 80,289 128 4,194 — — 84,611 Farm Production and Other Farm Loans 669 — 4 — 10 683 Total Business Loans 80,958 128 4,198 — 10 85,294 Consumer Loans: Credit Cards 1,770 — 63 — — 1,833 Other Consumer Loans 11,907 59 53 41 — 12,060 Total Consumer Loans 13,677 59 116 41 — 13,893 Total Loans $ 421,618 $ 25,383 $ 29,393 $ 41 $ 10 $ 476,445 The following table details the amount of gross loans by loan grade and class for the year ended December 31, 2018: Satisfactory Special Mention Substandard Doubtful Loss Total Real Estate: Land Development and Construction $ 39,726 $ 840 $ 568 $ — $ — $ 41,134 Farmland 13,248 339 911 — — 14,498 1-4 79,659 1,751 7,337 — — 88,747 Commercial Real Estate 172,217 17,938 13,440 — — 203,595 Total Real Estate Loans 304,850 20,868 22,256 — — 347,974 Business Loans: Commercial and Industrial Loans 63,994 81 2,346 — — 66,421 Farm Production and Other Farm Loans 876 — 31 — — 907 Total Business Loans 64,870 81 2,377 — — 67,328 Consumer Loans: Credit Cards 1,628 — 20 — — 1,648 Other Consumer Loans 12,181 65 71 55 — 12,372 Total Consumer Loans 13,809 65 91 55 — 14,020 Total Loans $ 383,529 $ 21,014 $ 24,724 $ 55 $ — $ 429,322 |
Purchased Loans (Tables)
Purchased Loans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Purchased loans [line Items] | |
Loans purchased in business combinations | Loans purchased in business combinations that exhibited, at the date of acquisition, evidence of deterioration of the credit quality since origination, such that it was probable that all contractually required payments would not be collected, were as follows as of December 31, 2019: 2019 2018 Real Estate: Land Development and Construction $ 43 $ — Farmland — — 1-4 706 — Commercial Real Estate — — Total Real Estate Loans 749 — Total PCD Loans $ 749 $ — |
Certain loans acquired in transfer not accounted for as debt securities acquired during period | The following table presents the fair value of loans purchased from Charter as of the October 1, 2019 acquisition date: October 1, 2019 At acquisition date: Contractually-required principal $ 104,127 Nonaccretable difference (68 ) Cash flows expected to be collected 104,059 Accretable yield (394 ) Fair Value $ 103,665 |
Schedule of loans purchased with deteriorated credit quality | Changes in the accretable yield of loans purchased with deteriorated credit quality were as follows: Balance at January 1, 2019 $ — Additions through acquisition (36 ) Reclasses from nonaccretable difference 12 Accretion 8 Charge-off — Balance at December 31, 2019 $ (16 ) |
Financial asset acquired with credit deterioration [Member] | |
Purchased loans [line Items] | |
Composition of net loans | The following is a summary of purchased loans at December 31: 2019 2018 Real Estate: Land Development and Construction $ 14,722 $ — Farmland 510 — 1-4 35,952 — Commercial Real Estate 32,436 — Total Real Estate Loans 83,620 — Business Loans: Commercial and Industrial Loans 14,153 — Farm Production and Other Farm Loans 884 — Total Business Loans 15,037 — Consumer Loans: Credit Cards — — Other Consumer Loans 1,973 — Total Consumer Loans 1,973 — Total Gross Loans 100,630 — Unearned Income — — Loans, net of unearned income $ 100,630 $ — |
Aging analysis of past due loans, segregated by class | An age analysis of past due loans, segregated by class of loans, as of December 31, 2019 is as follows: Loans 30-89 Days Loans Past Due Total Past Current Total Loans Accruing 90 or more Past Due Real Estate: Land Development and Construction $ 528 $ — $ 528 $ 14,194 $ 14,722 $ — Farmland — — — 510 510 — 1-4 444 — 444 35,508 35,952 — Commercial Real Estate 603 — 603 31,833 32,436 — Total Real Estate Loans 1,576 — 965 82,044 83,620 — Business Loans: Commercial and Industrial Loans 379 3 382 13,771 14,153 — Farm Production and Other Farm Loans — — — 884 884 — Total Business Loans 379 3 382 14,655 15,037 — Consumer Loans: Credit Cards — — — — — — Other Consumer Loans 49 8 57 1,916 1,973 — Total Consumer Loans 49 8 57 1,916 1,973 — Total Loans $ 2,003 $ 11 $ 2,014 $ 98,615 $ 100,630 $ — |
Detailed amount of gross loans segregated by loan grade and class | The following table details the amount of gross loans by loan grade which are consistent with the Company’s loan grades, and class for the year ended December 31, 2019: Special Satisfactory Mention Substandard Doubtful Loss Total 1,2,3,4 5,6 7 8 9 Loans Real Estate: Land Development and Construction $ 13,890 $ 789 $ 43 $ — $ — $ 14,722 Farmland 510 — — — — 510 1-4 33,737 1,535 680 — — 35,952 Commercial Real Estate 30,780 1,656 — — — 32,436 Total Real Estate Loans 78,917 3,980 723 — — 83,620 Business Loans: Commercial and Industrial Loans 13,545 608 — — — 14,153 Farm Production and Other Farm Loans 884 — — — — 884 Total Business Loans 14,429 608 — — — 15,037 Consumer Loans: Credit Cards — — — — — — Other Consumer Loans 1,937 36 — — — 1,973 Total Consumer Loans 1,937 36 — — — 1,973 Total Loans $ 95,283 $ 4,624 $ 723 $ — $ — $ 100,630 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounts and Financing Receivable, after Allowance for Credit Loss, Noncurrent [Abstract] | |
Allowance for Loan Losses by Portfolio Segment | The following table details activity in the allowance for loan losses by portfolio segment for the years ended December 31: Real Business 2019 Estate Loans Consumer Total Beginning Balance $ 2,845 $ 222 $ 305 $ 3,372 Provision for loan losses 231 247 95 573 Chargeoffs 115 107 138 360 Recoveries 114 9 47 170 Net chargeoffs 1 98 91 190 Ending Balance $ 3,075 $ 371 $ 309 $ 3,755 Period end allowance allocated to: Loans individually evaluated for impairment $ 610 $ 72 $ — $ 682 Loans collectively evaluated for impairment 2,465 299 309 3,073 Ending Balance $ 3,075 $ 371 $ 309 $ 3,755 Real Business 2018 Estate Loans Consumer Total Beginning Balance $ 2,151 $ 347 $ 521 $ 3,019 Provision for (reversal of) loan losses 606 (113 ) (159 ) 334 Chargeoffs 223 19 145 387 Recoveries 311 7 88 406 Net chargeoffs (88 ) 12 57 (19 ) Ending Balance $ 2,845 $ 222 $ 305 $ 3,372 Period end allowance allocated to: Loans individually evaluated for impairment $ 401 $ — $ — $ 401 Loans collectively evaluated for impairment 2,444 222 305 2,971 Ending Balance $ 2,845 $ 222 $ 305 $ 3,372 Real Business 2017 Estate Loans Consumer Total Beginning Balance $ 3,117 $ 258 $ 528 $ 3,903 Provision for (reversal of) loan losses (827 ) 254 30 (543 ) Chargeoffs 169 166 102 437 Recoveries 30 1 65 96 Net chargeoffs 139 165 37 341 Ending Balance $ 2,151 $ 347 $ 521 $ 3,019 Period end allowance allocated to: Loans individually evaluated for impairment $ 442 $ — $ — $ 442 Loans collectively evaluated for impairment 1,709 347 521 2,577 Ending Balance $ 2,151 $ 347 $ 521 $ 3,019 |
Recorded Investment in Loans Related to Balance in Allowance for Possible Loan Losses by Portfolio Segment | The Company’s recorded investment in loans as of December 31, 2019 and 2018 related to each balance in the allowance for possible loan losses by portfolio segment and disaggregated on the basis of the Company’s impairment methodology was as follows: 2019 Real Estate Business Consumer Total Loans individually evaluated for impairment $ 10,991 $ 144 $ — $ 11,135 Loans collectively evaluated for impairment 449,138 100,187 15,866 564,937 Acquired with deteriorated credit quality 749 — — 749 $ 460,878 $ 100,331 $ 15,866 $ 577,075 Real Business 2018 Estate Loans Consumer Total Loans individually evaluated for impairment $ 10,306 $ — $ — $ 10,306 Loans collectively evaluated for impairment 337,668 67,328 14,020 419,016 $ 347,974 $ 67,328 $ 14,020 $ 429,322 |
Net Chargeoffs Segregated by Class of Loans | Net chargeoffs (recoveries), segregated by class of loans, were as follows: 2019 2018 2017 Real Estate: Land Development and Construction $ (18 ) $ 56 $ 98 Farmland — 3 — 1-4 32 51 41 Commercial Real Estate (13 ) (198 ) — Total Real Estate Loans 1 (88 ) 139 Business Loans: Commercial and Industrial Loans 98 12 165 Total Business Loans 98 12 165 Consumer Loans: Credit Cards 34 36 (7 ) Other Consumer Loans 57 21 44 Total Consumer Loans 91 57 37 Total Net Chargeoffs (Recoveries) $ 190 $ (19 ) $ 341 |
Bank Premises, Furniture, Fix_2
Bank Premises, Furniture, Fixtures and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Bank Premises, Furniture, Fixtures and Equipment | Bank premises, furniture, fixtures and equipment consist of the following at December 31, 2019 and December 31, 2018: 2019 2018 Land and buildings $ 33,791 $ 27,052 Furniture, fixtures and equipment 8,447 6,012 42,238 33,064 Less accumulated depreciation 17,566 13,347 Total $ 24,672 $ 19,717 |
Summary Of Lease Costs | Lease costs were as follows: Twelve Months Ended December 31, 2019 (in thousands) Operating lease cost $ 370 Short-term lease cost 23 Variable lease cost — $ 393 |
Maturity analysis of operating lease liabilities | A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows: December 31, 2019 Lease payments due: Within one year $ 348 After one year but within two years 312 After two years but within three years 139 After three year but within four years 2 After four years but within five years — After five years — Total undiscounted cash flows 801 Discount on cash flows (30 ) Total lease liability $ 771 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
Reconciliation of goodwill | Changes in the carrying amount of goodwill during the years ended December 31, 2019 and 2018 were as follows: Total Balance at December 31, 2018 $ 3,150 Addition to goodwill from Charter acquisition 9,953 Balance at December 31, 2019 $ 13,103 |
Reconciliation of intangibale assets | The following table provides a summary of finite-lived intangible assets as of the dates presented: 2019 2018 Core deposit intangible $ 766 $ — Accumulated amortization (27 ) — Total finite-lived intangible assets $ 739 $ — |
Summary of finite lived intangible assets future amortization expense | The estimated amortization expense of finite-lived intangible assets for the five succeeding fiscal years is summarized as follows: Year ending December 31, Amount 2020 $ 109 2021 109 2022 109 2023 109 2024 109 Thereafter 194 $ 739 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Composition of Deposits | The composition of deposits as of December 31, 2019 and December 31, 2018 is as follows: 2019 2018 Non-interest $ 190,406 $ 170,030 NOW and money market accounts 369,354 298,220 Savings deposits 83,065 76,736 Time deposits, $250,000 or more 74,098 65,407 Other time deposits 182,073 145,829 Total $ 898,996 $ 756,222 |
Scheduled Maturities of Time Deposits | The scheduled maturities of time deposits at December 31, 2019 are as follows: Year Ending December 31, Amount 2020 $ 137,630 2021 59,641 2022 27,709 2023 15,912 2024 15,279 $ 256,171 |
Other Income and Other Expense
Other Income and Other Expense (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Major Income Classifications Included in Other Income Under Non Interest Income on Income Statement | The following is a detail of the major income classifications that are included in other income under non-interest Other Income 2019 2018 2017 BOLI Insurance $ 471 $ 495 $ 528 Mortgage Loan Origination Income 320 363 340 Other Income 1,224 290 447 Total Other Income $ 2,015 $ 1,148 $ 1,315 |
Major Expense Classifications Comprising of Other Expense Line Item in Income Statement | The following is a detail of the major expense classifications that comprise the other expense line item in the income statement for the years ended December 31: Other Operating Expense 2019 2018 2017 Advertising $ 551 $ 640 $ 650 Office Supplies 973 975 1,009 Professional fees 1,668 561 515 FDIC and State Assessment 274 350 417 Telephone Expense 501 520 530 Postage and Freight (49 ) 567 545 Loan Collection Expense 286 288 472 Other Losses 73 243 463 Debit Card/ATM expense 551 471 413 Travel and Convention 200 207 255 Other expenses 2,402 2,582 2,801 Total Other Expense $ 7,430 $ 7,404 $ 8,070 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Tax | Income tax expense consists of the following: 2019 2018 2017 Current payable (benefit) Federal $ 806 $ (181 ) $ 258 State 89 36 (72 ) 895 (145 ) 186 Deferred tax expense 459 973 3,885 Income tax expense $ 1,354 $ 828 $ 4,071 |
Differences between Income Taxes Calculated at Federal Statutory Rate and Income Tax Expense | The differences between income taxes calculated at the federal statutory rate and income tax expense were as follows: 2019 2018 2017 Federal taxes based on statutory rate $ 1,524 $ 1,575 $ 2,643 State income taxes, net of federal benefit 145 133 (48 ) Tax-exempt (309 ) (487 ) (1,074 ) Revaluation of net deferred tax assets as a result of the Tax Cuts and Jobs Act — — 2,559 Other, net (6 ) (394 ) (9 ) Income tax expense $ 1,354 $ 828 $ 4,071 |
Net Deferred Tax Assets | At December 31, 2019 and December 31, 2018, net deferred tax assets consist of the following: 2019 2018 Deferred tax assets Allowance for loan losses $ 937 $ 841 Deferred compensation liability 2,488 2,419 Net operating loss carryforward 1,000 — Other real estate owned 819 435 Acquisition fair value adjustments 130 — Unrealized loss on securities available-for-sale 262 4,978 Other 6 — Total 5,642 8,673 Deferred tax liabilities Premises and equipment 1,603 1,856 Core deposit intangible 184 — Other 171 183 Total 1,958 2,039 Net deferred tax asset $ 3,684 $ 6,634 |
Summarized Financial Informat_2
Summarized Financial Information of Citizens Holding Company (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Summarized Statements of Cash Flows Financial Information of Citizens Holding Company | Statements of Cash Flows Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Cash flows from operati n Net income $ 5,902 $ 6,673 $ 3,704 Adjustments to reconcile net income to net cash provided by operating activities Equity in undistributed loss (earnings) of the Bank 4,965 (3,022 ) 1,349 Stock compensation expense 163 170 211 Increase in other assets 97 84 266 Net cash provided by operating activities 11,127 3,905 5,530 Cash flows from investing activities Net cash paid in acquisition activities $ (6,113 ) $ — $ — Net cash used in investing activities (6,113 ) — — Cash flows from financing activities Dividends paid to shareholders $ (4,874 ) $ (4,706 ) $ (4,697 ) Proceeds from stock options — 27 93 Net cash used in financing activities (4,874 ) (4,679 ) (4,604 ) Net increase (decrease) in cash 140 (774 ) 926 Cash, beginning of year 1,596 2,370 1,444 Cash, end of year $ 1,736 $ 1,596 $ 2,370 |
Citizens Holding Company [Member] | |
Summarized Balance Sheets Financial Information of Citizens Holding Company | Balance Sheets December 31, 2019 and 2018 2019 2018 Assets Cash (1) $ 1,736 $ 1,596 Investment in bank subsidiary (1) 110,892 82,002 Other assets (1) 172 268 Total assets $ 112,800 $ 83,866 Liabilities Other liabilities $ — $ — Shareholders’ equity 112,800 83,866 Total liabilities and shareholders’ equity $ 112,800 $ 83,866 (1) Fully or partially eliminates in consolidation. |
Summarized Income Statement Financial Information of Citizens Holding Company | Income Statements Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Interest income (1) $ 2 $ 2 $ 2 Other income Dividends from bank subsidiary (1) 11,242 3,990 5,472 Equity in undistributed earnings (loss) of bank subsidiary (1) (4,965 ) 3,022 (1,349 ) Other income — — — Total other income 6,277 7,012 4,123 Other expense 462 446 459 Income before income taxes 5,817 6,568 3,666 Income tax benefit (85 ) (105 ) (38 ) Net income $ 5,902 $ 6,673 $ 3,704 (1) Eliminates in consolidation. |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Minimum Total Risk-Based, Tier I Risk-Based, and Tier I Leverage Ratios | To continue to be categorized as well capitalized under the regulatory framework for prompt corrective action, the Company would have to maintain minimum total risk-based, Tier I risk-based, and Tier I leverage ratios as disclosed below, in comparison with actual capital amounts and ratios: Minimum Capital Minimum Capital Requirement to be Requirement to be Adequately Actual Well Capitalized Capitalized Amount Ratio Amount Ratio Amount Ratio December 31, 2019 Citizens Holding Company Tier 1 leverage ratio $ 98,733 8.33 % $ 59,270 5.00 % $ 47,416 4.00 % Common Equity tier 1 capital ratio 98,733 8.33 % 77,051 6.50 % 53,343 4.50 % Tier 1 risk-based capital ratio 98,733 13.86 % 56,972 8.00 % 42,729 6.00 % Total risk-based capital ratio 102,488 14.39 % 71,215 10.00 % 56,972 8.00 % The Citizens Bank of Philadelphia Tier 1 leverage ratio $ 96,824 8.18 % $ 59,206 5.00 % $ 47,365 4.00 % Common Equity tier 1 capital ratio 96,824 8.18 % 76,968 6.50 % 53,285 4.50 % Tier 1 risk-based capital ratio 96,824 13.60 % 56,958 8.00 % 42,719 6.00 % Total risk-based capital ratio 100,579 14.13 % 71,198 10.00 % 56,958 8.00 % December 31, 2018 Citizens Holding Company Tier 1 leverage ratio $ 95,691 9.93 % $ 48,191 5.00 % $ 38,553 4.00 % Common Equity tier 1 capital ratio 95,691 9.93 % 62,648 6.50 % 43,372 4.50 % Tier 1 risk-based capital ratio 95,691 17.41 % 43,966 8.00 % 32,974 6.00 % Total risk-based capital ratio 99,063 18.03 % 54,957 10.00 % 43,966 8.00 % The Citizens Bank of Philadelphia Tier 1 leverage ratio $ 93,827 9.74 % $ 48,178 5.00 % $ 38,542 4.00 % Common Equity tier 1 capital ratio 93,827 9.74 % 62,631 6.50 % 43,360 4.50 % Tier 1 risk-based capital ratio 93,827 17.08 % 43,944 8.00 % 32,958 6.00 % Total risk-based capital ratio 97,199 17.69 % 54,930 10.00 % 43,944 8.00 % |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents investment securities that are measured at fair value on a recurring basis as of December 31, 2019: Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Totals Securities available for sale Obligations of U.S. Government agencies $ — $ 97,111 $ — $ 97,111 Mortgage-backed securities — 306,900 — 306,900 State, County, Municipals — 60,372 — 60,372 $ — $ 464,383 $ — $ 464,383 The following table presents investment securities that are measured at fair value on a recurring basis as of December 31, 2018: Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Totals Securities available for sale Obligations of U.S. Government agencies $ — $ 95,978 $ — $ 95,978 Mortgage-backed securities — $ 247,374 — 247,374 State, County, Municipals — $ 101,394 — 101,394 $ — $ 444,746 $ — $ 444,746 |
Asset Measured at Fair Value on Nonrecurring Basis | The following table presents assets measured at fair value on a nonrecurring basis during December 31, 2019 and 2018 and were still held at those respective dates: Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Totals December 31, 2019 Impaired loans $ — $ — $ 4,576 $ 4,576 $ — $ — $ 4,576 $ 4,576 December 31, 2018 Impaired loans $ — $ — $ 3,365 $ 3,365 Other real estate owned — — 189 189 $ — $ — $ 3,554 $ 3,554 |
Carrying Value and Estimated Fair Value of Financial Instruments | The following represents the carrying value and estimated fair value of the Company’s financial instruments at December 31, 2019 and December 31, 2018: Carrying Value Quoted Prices Significant Other Observable Inputs Significant Total Fair Value 2019 (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 15,937 $ 15,937 $ — $ — $ 15,937 Interest bearing deposits with banks 58,557 58,557 — — 58,557 Federal funds sold 1,600 1,600 — — 1,600 Securities available-for-sale 464,383 — 464,383 — 464,383 Net loans 573,312 — — 569,640 569,640 Financial liabilities Deposits $ 898,996 $ 642,825 $ 258,100 $ — $ 900,925 Securities Sold under Agreement to Repurchase 170,410 170,410 — — 170,410 Carrying Value Quoted Prices Significant Other Observable Inputs Significant Total Fair Value 2018 (Level 1) (Level 2) (Level 3) Financial assets Cash and due from banks $ 12,592 $ 12,592 $ — $ — $ 12,592 Interest bearing deposits with banks 8,080 8,080 — — 8,080 Securities available-for-sale 444,746 — 444,746 — 444,746 Net loans 425,905 — — 420,992 420,992 Financial liabilities Deposits $ 756,222 $ 544,986 $ 210,477 $ — $ 755,463 Securities Sold under Agreement to Repurchase 107,965 107,965 — — 107,965 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Status of Plans | Following is a summary of the status of the stock options remaining under the plans for the years ending December 31, 2019, 2018 and 2017: Directors’ Plan Number of Shares Weighted Outstanding at January 1, 2017 78,000 $ 21.08 Granted — — Exercised (6,000 ) 20.94 Expired (9,000 ) 22.00 Outstanding at December 31, 2017 63,000 $ 20.96 Granted — — Exercised (6,000 ) 18.00 Expired (4,500 ) 18.00 Outstanding at December 31, 2018 52,500 $ 21.55 Granted — — Exercised — — Expired (12,000 ) 21.75 Outstanding at December 31, 2019 40,500 $ 21.49 Options exercisable at: December 31, 2019 40,500 $ 21.49 |
Outstanding Stock Options Granted in Relation to Option Price and Weighted Average Maturity | The following table presents the outstanding stock options granted in relation to the option price and the weighted average maturity. Options Weighted Weighted Average Range of Exercise Prices Outstanding Average Price Life Remaining $15.01 to $20.00 13,500 18.76 2 years, 4 months $20.01 to $22.50 13,500 20.02 1 year, 4 months $22.51 and above 13,500 25.72 4 months Total 40,500 $ 21.49 1 years, 4 months |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Summary Of Significant Accounting Policies [Line Items] | ||||
Interest-bearing deposits with other banks, maturity date | 1 year | |||
Securities classified held-to-maturity | $ 0 | $ 0 | ||
Restructured loans, minimum period of nonaccrual status to be considered as nonperforming | 90 days | |||
Minimum individual loan basis, with specific reserve requirement | $ 100 | |||
Operating lease liability | 771 | |||
Operating lease right-of-use ("ROU") | 771,000 | |||
Advertising Expense | 551 | $ 640 | $ 650 | |
ASU 2016-02 [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Operating lease liability | $ 1,009 | |||
Operating lease right-of-use ("ROU") | $ 1,009 | |||
Accumulated Other Comprehensive Income (Loss) | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Reclassification of accumulated other comprehensive income | 0 | (1,588) | ||
Retained Earnings | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Reclassification of accumulated other comprehensive income | $ 0 | $ 1,588 | ||
Minimum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Premises, furniture, fixtures and equipment, estimated useful lives | 3 years | |||
Core deposit intangibles, estimated useful lives | 5 years | |||
Maximum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Premises, furniture, fixtures and equipment, estimated useful lives | 40 years | |||
Core deposit intangibles, estimated useful lives | 10 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Effect of Dilutive Shares (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||
Basic weighted average shares outstanding | 5,063,736 | 4,889,420 | 4,878,691 |
Dilutive effect of stock options | 2,367 | 9,798 | 17,157 |
Dilutive weighted average shares outstanding | 5,066,103 | 4,899,218 | 4,895,848 |
Net income | $ 5,902 | $ 6,673 | $ 3,704 |
Net income per share-basic | $ 1.17 | $ 1.36 | $ 0.76 |
Net income per share-diluted | $ 1.17 | $ 1.36 | $ 0.76 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands | Oct. 01, 2019 | Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition, Contingent Consideration [Line Items] | |||||
Business combination transaction value | $ 19,668 | ||||
common stock issued In business combination | shares | 666,101 | ||||
Cash transferred | $ 6,110 | ||||
Intangible asset acquired | 10,719 | ||||
Goodwill resulting from merger | 9,953 | ||||
Core deposit intangible | 10,719 | ||||
Expenses related to the merger | $ 7,430 | $ 7,404 | $ 8,070 | ||
Core Deposits [Member] | |||||
Business Acquisition, Contingent Consideration [Line Items] | |||||
Core deposit intangible | $ 766 | ||||
Intangible asset useful life | 7 years | ||||
Mississippi Gulf Coast [Member] | |||||
Business Acquisition, Contingent Consideration [Line Items] | |||||
No of operating banking locations | 4 | ||||
Charter Bank [Member] | |||||
Business Acquisition, Contingent Consideration [Line Items] | |||||
Business combination transaction value | $ 19,668 | ||||
common stock issued In business combination | shares | 666,101 | ||||
Cash transferred | $ 6,110 | ||||
percentage of voting interest acquired | 100.00% | ||||
Net interest income of acquiree | $ 1,021 | ||||
Expenses related to the merger | $ 558 | ||||
Non-interest income | 720 | ||||
Income before income taxes | $ 1,362 |
Business Combinations - Schedul
Business Combinations - Schedule of assets acquired liabilities assumed in company's acquisition of charter based on their fair values (Detail) $ / shares in Units, $ in Thousands | Oct. 01, 2019USD ($)$ / sharesshares |
Purchase Price: | |
Shares issued to common shareholders | shares | 666,101 |
Purchase price per share | $ / shares | $ 20.35 |
Value of stock paid | $ 13,555 |
Cash consideration paid | 6,110 |
Cash paid for fractional shares | 3 |
Total Purchase Price | 19,668 |
Net Assets Acquired: | |
Stockholders' equity at transaction date | 11,383 |
Increase (decrease) to net assets as a result of fair value adjustments to assets acquired and liabilities assumed: | |
Securities | (237) |
Loans, including loans held for sale | (347) |
Premises and equipment | (1,252) |
Intangible assets | 575 |
Other assets | (272) |
Deposits | (135) |
Total Net Assets Acquired | 9,715 |
Goodwill resulting from merger | $ 9,953 |
Business Combinations - Sched_2
Business Combinations - Schedule of assets acquired liabilities assumed in business combination (Detail) $ in Thousands | Oct. 01, 2019USD ($) |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |
Cash and cash equivalents | $ 7,343 |
Investment securities available for sale | 26,607 |
Loans | 103,665 |
Premises and equipment | 4,813 |
Intangible assets | 10,719 |
Other assets | 3,957 |
Total assets | 157,104 |
Deposits | 126,316 |
Borrowings | 8,969 |
Other liabilities | 2,151 |
Total liabilities | $ 137,436 |
Business Combinations - Sched_3
Business Combinations - Schedule of Proforma Informa Related to Business Combination (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | ||
Net interest income - pro forma | $ 29,237 | $ 32,206 |
Noninterest income - pro forma | 10,090 | 9,014 |
Noninterest expense - pro forma | 35,075 | 32,714 |
Net income - pro forma | $ 2,692 | $ 6,982 |
Earnings per share - pro forma | ||
Basic | $ 0.53 | $ 1.43 |
Diluted | $ 0.53 | $ 1.43 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Securities at carrying value | $ 413,275 | $ 357,231 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 465,434 | $ 464,699 |
Gross Unrealized Gains | 1,348 | 72 |
Gross Unrealized Losses | 2,399 | 20,025 |
Estimated Fair Value | 464,383 | 444,746 |
Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 97,400 | 99,366 |
Gross Unrealized Losses | 289 | 3,388 |
Estimated Fair Value | 97,111 | 95,978 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 308,310 | 259,742 |
Gross Unrealized Gains | 640 | 5 |
Gross Unrealized Losses | 2,050 | 12,373 |
Estimated Fair Value | 306,900 | 247,374 |
State, County and Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 59,724 | 105,591 |
Gross Unrealized Gains | 708 | 67 |
Gross Unrealized Losses | 60 | 4,264 |
Estimated Fair Value | $ 60,372 | $ 101,394 |
Investment Securities - Summary
Investment Securities - Summary of Unrealized Loss Information for Available-for-Sale Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | $ 186,692 | $ 24,882 |
Less than 12 months Unrealized Losses | 1,125 | 464 |
12 months or more Fair Value | 100,790 | 407,443 |
12 months or more Unrealized Losses | 1,274 | 19,561 |
Total Fair Value | 287,482 | 432,325 |
Total Unrealized Losses | 2,399 | 20,025 |
Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 76,682 | |
Less than 12 months Unrealized Losses | 217 | |
12 months or more Fair Value | 20,429 | 95,978 |
12 months or more Unrealized Losses | 72 | 3,388 |
Total Fair Value | 97,111 | 95,978 |
Total Unrealized Losses | 289 | 3,388 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 101,730 | 12,258 |
Less than 12 months Unrealized Losses | 871 | 179 |
12 months or more Fair Value | 76,630 | 234,929 |
12 months or more Unrealized Losses | 1,179 | 12,194 |
Total Fair Value | 178,360 | 247,187 |
Total Unrealized Losses | 2,050 | 12,373 |
State, County and Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 8,280 | 12,624 |
Less than 12 months Unrealized Losses | 37 | 285 |
12 months or more Fair Value | 3,731 | 76,536 |
12 months or more Unrealized Losses | 23 | 3,979 |
Total Fair Value | 12,011 | 89,160 |
Total Unrealized Losses | $ 60 | $ 4,264 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Available-for-sale, Amortized Cost | ||
Due in one year or less | $ 345 | |
Due after one year through five years | 89,920 | |
Due after five years through ten years | 18,678 | |
Due after ten years | 48,181 | |
Total Amortized Cost | 465,434 | $ 464,699 |
Available-for-sale, Estimated Fair Value | ||
Due in one year or less | 345 | |
Due after one year through five years | 89,681 | |
Due after five years through ten years | 18,808 | |
Due after ten years | 48,649 | |
Total Fair Value | 464,383 | $ 444,746 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale, Amortized Cost | ||
Total Amortized Cost | 259,309 | |
Available-for-sale, Estimated Fair Value | ||
Total Fair Value | 258,415 | |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale, Amortized Cost | ||
Total Amortized Cost | 49,001 | |
Available-for-sale, Estimated Fair Value | ||
Total Fair Value | $ 48,485 |
Investment Securities - Total G
Investment Securities - Total Gross Realized Gains and Gross Realized Losses from Sale of Investment Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |||
Gross realized gains | $ 414 | $ 171 | $ 633 |
Gross realized losses | 223 | 160 | 528 |
Net realized gains | $ 191 | $ 11 | $ 105 |
Federal Home Loan Bank Stock -
Federal Home Loan Bank Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Reserves on Deposit with Federal Reserve Bank and Federal Home Loan Bank [Line Items] | ||
Stock redemption par value | $ 100 | $ 100 |
Other Assets [Member] | ||
Reserves on Deposit with Federal Reserve Bank and Federal Home Loan Bank [Line Items] | ||
Investment in Federal Home Loan Bank at cost | $ 3,083 | $ 2,253 |
Non Purchased Loans - Additiona
Non Purchased Loans - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Variable rate outstanding loans | $ 77,700,000 | $ 67,500,000 | |
Interest income forgone on loans classified as non-accrual | 555,000 | 429,000 | $ 413,000 |
Minimum loan limit considered for impairment evaluation by management | 100,000 | ||
Restructured Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | $ 0 | $ 174 | |
Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan-to-value ratios | 80.00% | ||
Commercial Real Estate [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan-to-value ratios | 80.00% | ||
Commercial Real Estate [Member] | Minimum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan-to-value ratios | 50.00% | ||
Consumer Loans [Member] | Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan-to-value ratios | 80.00% |
Non Purchased Loans - Compositi
Non Purchased Loans - Composition of Net Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total Gross Loans | $ 476,445 | $ 429,322 | ||
Allowance for Loan Losses | (3,755) | (3,372) | $ (3,019) | $ (3,903) |
Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for Loan Losses | (3,075) | (2,845) | (2,151) | (3,117) |
Real Estate Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for Loan Losses | (371) | (222) | (347) | (258) |
Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for Loan Losses | (309) | (305) | $ (521) | $ (528) |
Financial assets non purchased loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total Gross Loans | 476,445 | 429,322 | ||
Unearned Income | (8) | (45) | ||
Allowance for Loan Losses | (3,755) | (3,372) | ||
Loans, net | 472,682 | 425,905 | ||
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 377,258 | 347,974 | ||
Total Gross Loans | 377,258 | 347,974 | ||
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 66,428 | 41,134 | ||
Total Gross Loans | 66,428 | 41,134 | ||
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 15,595 | 14,498 | ||
Total Gross Loans | 15,595 | 14,498 | ||
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 87,631 | 88,747 | ||
Total Gross Loans | 87,631 | 88,747 | ||
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 207,604 | 203,595 | ||
Total Gross Loans | 207,604 | 203,595 | ||
Financial assets non purchased loans [Member] | Real Estate Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Business loans | 85,294 | 67,328 | ||
Total Gross Loans | 85,294 | 67,328 | ||
Financial assets non purchased loans [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Business loans | 84,611 | 66,421 | ||
Total Gross Loans | 84,611 | 66,421 | ||
Financial assets non purchased loans [Member] | Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Business loans | 683 | 907 | ||
Total Gross Loans | 683 | 907 | ||
Financial assets non purchased loans [Member] | Consumer Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total Gross Loans | 13,893 | 14,020 | ||
Financial assets non purchased loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total Gross Loans | 1,833 | 1,648 | ||
Financial assets non purchased loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total Gross Loans | $ 12,060 | $ 12,372 |
Non Purchased Loans - Activity
Non Purchased Loans - Activity in Related Party Loans (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Receivables [Abstract] | |
Balance outstanding at December 31, 2018 | $ 2,941 |
Principal additions | 190 |
Principal reductions | (2,744) |
Balance outstanding at December 31, 2019 | $ 387 |
Non Purchased Loans - Period-En
Non Purchased Loans - Period-End Non-Accrual Loans, Segregated by Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | $ 11,993 | $ 9,839 |
1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 33 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 11,585 | 9,643 |
Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 111 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 232 | 200 |
Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 2,160 | 1,831 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 9,082 | 7,612 |
Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 348 | 107 |
Real Estate Loans [Member] | Farmland Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 10 | 31 |
Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 338 | 76 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 60 | 89 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | $ 60 | $ 89 |
Non Purchased Loans - Aging Ana
Non Purchased Loans - Aging Analysis of Past Due Loans, Segregated by Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Gross Loans | $ 476,445 | $ 429,322 |
Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 13,354 | 8,697 |
Total Past Due Loans | 16,622 | 12,149 |
Current Loans | 459,823 | 417,173 |
Total Gross Loans | 476,445 | 429,322 |
Accruing Loans 90 or more Days Past Due | 274 | 73 |
Commercial Real Estate Portfolio Segment [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 12,534 | 6,788 |
Total Past Due Loans | 15,430 | 10,182 |
Current Loans | 361,828 | 337,792 |
Total Gross Loans | 377,258 | 347,974 |
Accruing Loans 90 or more Days Past Due | 204 | 54 |
Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 736 | 1,494 |
Total Past Due Loans | 736 | 1,548 |
Current Loans | 65,692 | 39,586 |
Total Gross Loans | 66,428 | 41,134 |
Accruing Loans 90 or more Days Past Due | 54 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 171 | 779 |
Total Past Due Loans | 210 | 808 |
Current Loans | 15,385 | 13,690 |
Total Gross Loans | 15,595 | 14,498 |
Accruing Loans 90 or more Days Past Due | 39 | |
Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 3,116 | 3,456 |
Total Past Due Loans | 3,893 | 3,786 |
Current Loans | 83,738 | 84,961 |
Total Gross Loans | 87,631 | 88,747 |
Accruing Loans 90 or more Days Past Due | 147 | |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 8,511 | 1,059 |
Total Past Due Loans | 10,591 | 4,040 |
Current Loans | 197,013 | 199,555 |
Total Gross Loans | 207,604 | 203,595 |
Accruing Loans 90 or more Days Past Due | 18 | |
Real Estate Loans [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 603 | 1,681 |
Total Past Due Loans | 915 | 1,702 |
Current Loans | 84,379 | 65,626 |
Total Gross Loans | 85,294 | 67,328 |
Accruing Loans 90 or more Days Past Due | 52 | |
Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 586 | 1,672 |
Total Past Due Loans | 898 | 1,693 |
Current Loans | 83,713 | 64,728 |
Total Gross Loans | 84,611 | 66,421 |
Accruing Loans 90 or more Days Past Due | 52 | |
Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 17 | 9 |
Total Past Due Loans | 17 | 9 |
Current Loans | 666 | 898 |
Total Gross Loans | 683 | 907 |
Consumer Portfolio Segment [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 217 | 228 |
Total Past Due Loans | 277 | 265 |
Current Loans | 13,616 | 13,755 |
Total Gross Loans | 13,893 | 14,020 |
Accruing Loans 90 or more Days Past Due | 18 | 19 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 45 | 16 |
Total Past Due Loans | 63 | 20 |
Current Loans | 1,770 | 1,628 |
Total Gross Loans | 1,833 | 1,648 |
Accruing Loans 90 or more Days Past Due | 18 | 4 |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 172 | 212 |
Total Past Due Loans | 214 | 245 |
Current Loans | 11,846 | 12,127 |
Total Gross Loans | 12,060 | 12,372 |
Accruing Loans 90 or more Days Past Due | 15 | |
Loans 90 or more Days Past Due [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 3,268 | 3,452 |
Loans 90 or more Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 2,896 | 3,394 |
Loans 90 or more Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 54 | |
Loans 90 or more Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 39 | 29 |
Loans 90 or more Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 777 | 330 |
Loans 90 or more Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 2,080 | 2,981 |
Loans 90 or more Days Past Due [Member] | Real Estate Loans [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 312 | 21 |
Loans 90 or more Days Past Due [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 312 | 21 |
Loans 90 or more Days Past Due [Member] | Consumer Portfolio Segment [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 60 | 37 |
Loans 90 or more Days Past Due [Member] | Consumer Portfolio Segment [Member] | Farm Production and Other Farm Loans [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 0 | |
Loans 90 or more Days Past Due [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 18 | 4 |
Loans 90 or more Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | $ 42 | $ 33 |
Non Purchased Loans - Impaired
Non Purchased Loans - Impaired Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 12,852 | $ 12,023 |
Recorded Investment With No Allowance | 6,999 | 6,540 |
Recorded Investment With Allowance | 4,136 | 3,766 |
Total Recorded Investment | 11,135 | 10,306 |
Related Allowance | 682 | 401 |
Average Recorded Investment | 10,721 | 7,352 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 12,708 | 10,601 |
Recorded Investment With No Allowance | 6,999 | 5,209 |
Recorded Investment With Allowance | 3,992 | 3,675 |
Total Recorded Investment | 10,991 | 8,884 |
Related Allowance | 610 | 374 |
Average Recorded Investment | 10,649 | 6,489 |
Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 111 | |
Recorded Investment With No Allowance | 58 | |
Recorded Investment With Allowance | 53 | |
Total Recorded Investment | 111 | |
Related Allowance | 16 | |
Average Recorded Investment | 56 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 252 | 269 |
Recorded Investment With No Allowance | 252 | 269 |
Total Recorded Investment | 252 | 269 |
Average Recorded Investment | 261 | 135 |
Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 839 | 1,153 |
Recorded Investment With No Allowance | 740 | 1,062 |
Recorded Investment With Allowance | 99 | 91 |
Total Recorded Investment | 839 | 1,153 |
Related Allowance | 28 | 27 |
Average Recorded Investment | 996 | 728 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 11,506 | |
Recorded Investment With No Allowance | 5,949 | |
Recorded Investment With Allowance | 3,840 | |
Total Recorded Investment | 9,789 | |
Related Allowance | 566 | |
Average Recorded Investment | 9,337 | |
Real Estate Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 144 | 12,023 |
Recorded Investment With No Allowance | 6,540 | |
Recorded Investment With Allowance | 144 | 3,766 |
Total Recorded Investment | 144 | 10,306 |
Related Allowance | 72 | 401 |
Average Recorded Investment | 72 | $ 7,352 |
Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 144 | |
Recorded Investment With Allowance | 144 | |
Total Recorded Investment | 144 | |
Related Allowance | 72 | |
Average Recorded Investment | $ 72 |
Non Purchased Loans - Troubled
Non Purchased Loans - Troubled Debt Restructurings Segregated by Class (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)Loan | Dec. 31, 2018USD ($)Loan | Dec. 31, 2017USD ($)Loan | |
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Loan | 3 | 3 | 3 |
Post-Modification Outstanding Recorded Investment | $ 2,782 | $ 3,047 | $ 3,288 |
Real Estate Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Loan | 3 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 4,871 | $ 4,871 | |
Post-Modification Outstanding Recorded Investment | $ 2,495 | $ 2,782 | |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Loan | 3 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 4,871 | $ 4,871 | |
Post-Modification Outstanding Recorded Investment | $ 2,495 | $ 2,782 |
Non Purchased Loans - Changes i
Non Purchased Loans - Changes in Troubled Debt Restructurings (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)Loan | Dec. 31, 2018USD ($)Loan | Dec. 31, 2017USD ($)Loan | |
Receivables [Abstract] | |||
Number of Loans | Loan | 3 | 3 | 3 |
Additional loans with concessions, Recorded Investment | $ 2,495 | ||
Principal paydowns, Recorded Investment | (287) | $ (265) | $ (241) |
Post-Modification Outstanding Recorded Investment | $ 2,782 | $ 3,047 | $ 3,288 |
Non Purchased Loans - Detailed
Non Purchased Loans - Detailed Amount of Gross Loans Segregated by Loan Grade and Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 476,445 | $ 429,322 |
Financial assets non purchased loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 476,445 | 429,322 |
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 377,258 | 347,974 |
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 66,428 | 41,134 |
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 15,595 | 14,498 |
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 87,631 | 88,747 |
Financial assets non purchased loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 207,604 | 203,595 |
Financial assets non purchased loans [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 85,294 | 67,328 |
Financial assets non purchased loans [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 84,611 | 66,421 |
Financial assets non purchased loans [Member] | Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 683 | 907 |
Financial assets non purchased loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 13,893 | 14,020 |
Financial assets non purchased loans [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,833 | 1,648 |
Financial assets non purchased loans [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 12,060 | 12,372 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 421,618 | 383,529 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 326,983 | 304,850 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 64,112 | 39,726 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 14,533 | 13,248 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 79,068 | 79,659 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 169,270 | 172,217 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 80,958 | 64,870 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 80,289 | 63,994 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 669 | 876 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 13,677 | 13,809 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,770 | 1,628 |
Financial assets non purchased loans [Member] | Satisfactory 1, 2, 3, 4 [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 11,907 | 12,181 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 25,383 | 21,014 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 25,196 | 20,868 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,682 | 840 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 331 | 339 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,917 | 1,751 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 21,266 | 17,938 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 128 | 81 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 128 | 81 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 59 | 65 |
Financial assets non purchased loans [Member] | Special Mention 5,6 [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 59 | 65 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 29,393 | 24,724 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 25,079 | 22,256 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 634 | 568 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 731 | 911 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 6,646 | 7,337 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 17,068 | 13,440 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 4,198 | 2,377 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 4,194 | 2,346 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 4 | 31 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 116 | 91 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 63 | 20 |
Financial assets non purchased loans [Member] | Substandard 7 [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 53 | 71 |
Financial assets non purchased loans [Member] | Doubtful 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 41 | 55 |
Financial assets non purchased loans [Member] | Doubtful 8 [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 41 | 55 |
Financial assets non purchased loans [Member] | Doubtful 8 [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 41 | $ 55 |
Financial assets non purchased loans [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 10 | |
Financial assets non purchased loans [Member] | Loss [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 10 | |
Financial assets non purchased loans [Member] | Loss [Member] | Consumer Portfolio Segment [Member] | Farm Production and Other Farm Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 10 |
Purchased Loans - Additional In
Purchased Loans - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Purchased loans [line Items] | ||
Financing receivable, recorded investment | $ 11,993 | $ 9,839 |
1-4 Family Mortgages [Member] | ||
Purchased loans [line Items] | ||
Financing receivable, recorded investment | $ 33 |
Purchased Loans - Composition o
Purchased Loans - Composition of Net Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | $ 476,445 | $ 429,322 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 100,630 | |
Loans, net | 100,630 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 83,620 | |
Total gross loans | 83,620 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 14,722 | |
Total gross loans | 14,722 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 510 | |
Total gross loans | 510 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 35,952 | |
Total gross loans | 35,952 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 32,436 | |
Total gross loans | 32,436 | |
Financial Asset Acquired with Credit Deterioration [Member] | Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Business loans | 15,037 | |
Total gross loans | 15,037 | |
Financial Asset Acquired with Credit Deterioration [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Business loans | 14,153 | |
Total gross loans | 14,153 | |
Financial Asset Acquired with Credit Deterioration [Member] | Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Business loans | 884 | |
Total gross loans | 884 | |
Financial Asset Acquired with Credit Deterioration [Member] | Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 1,973 | |
Financial Asset Acquired with Credit Deterioration [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | $ 1,973 |
Purchased Loans - Aging Analysi
Purchased Loans - Aging Analysis of Past Due Loans, Segregated by Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Gross Loans | $ 476,445 | $ 429,322 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 2,003 | |
Total Past Due Loans | 2,014 | |
Current Loans | 98,615 | |
Total Gross Loans | 100,630 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 1,576 | |
Total Past Due Loans | 965 | |
Current Loans | 82,044 | |
Total Gross Loans | 83,620 | |
Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 528 | |
Total Past Due Loans | 528 | |
Current Loans | 14,194 | |
Total Gross Loans | 14,722 | |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 510 | |
Total Gross Loans | 510 | |
Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 444 | |
Total Past Due Loans | 444 | |
Current Loans | 35,508 | |
Total Gross Loans | 35,952 | |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 603 | |
Total Past Due Loans | 603 | |
Current Loans | 31,833 | |
Total Gross Loans | 32,436 | |
Real Estate Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 379 | |
Total Past Due Loans | 382 | |
Current Loans | 14,655 | |
Total Gross Loans | 15,037 | |
Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 379 | |
Total Past Due Loans | 382 | |
Current Loans | 13,771 | |
Total Gross Loans | 14,153 | |
Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 884 | |
Total Gross Loans | 884 | |
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 49 | |
Total Past Due Loans | 57 | |
Current Loans | 1,916 | |
Total Gross Loans | 1,973 | |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans 30-89 Days Past Due | 49 | |
Total Past Due Loans | 57 | |
Current Loans | 1,916 | |
Total Gross Loans | 1,973 | |
Loans 90 or more Days Past Due [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 11 | |
Loans 90 or more Days Past Due [Member] | Real Estate Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 3 | |
Loans 90 or more Days Past Due [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 3 | |
Loans 90 or more Days Past Due [Member] | Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 8 | |
Loans 90 or more Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | $ 8 |
Purchased Loans - Detailed Amou
Purchased Loans - Detailed Amount of Gross Loans Segregated by Loan Grade and Class (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 476,445 | $ 429,322 |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 100,630 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 83,620 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 14,722 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 510 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 35,952 | |
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 32,436 | |
Financial Asset Acquired with Credit Deterioration [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 15,037 | |
Financial Asset Acquired with Credit Deterioration [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 14,153 | |
Financial Asset Acquired with Credit Deterioration [Member] | Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 884 | |
Financial Asset Acquired with Credit Deterioration [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,973 | |
Financial Asset Acquired with Credit Deterioration [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,973 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 95,283 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 78,917 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 13,890 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 510 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 33,737 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 30,780 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 14,429 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 13,545 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Real Estate Loans [Member] | Farm Production and Other Farm Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 884 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,937 | |
Financial Asset Acquired with Credit Deterioration [Member] | Satisfactory 1, 2, 3, 4 [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,937 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 4,624 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 3,980 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 789 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,535 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,656 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 608 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 608 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 36 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention 5,6 [Member] | Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 36 | |
Financial Asset Acquired with Credit Deterioration [Member] | Substandard 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 723 | |
Financial Asset Acquired with Credit Deterioration [Member] | Substandard 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 723 | |
Financial Asset Acquired with Credit Deterioration [Member] | Substandard 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 43 | |
Financial Asset Acquired with Credit Deterioration [Member] | Substandard 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 680 |
Purchased Loans - Summary of Lo
Purchased Loans - Summary of Loans purchased in business combinations (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans Purchased In Business Combinations [Line Items] | ||
Loans and Leases Receivable, Net Amount | $ 573,312 | $ 425,905 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | ||
Loans Purchased In Business Combinations [Line Items] | ||
Loans and Leases Receivable, Net Amount | 749 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Land Development And Construction Loans [Member] | ||
Loans Purchased In Business Combinations [Line Items] | ||
Loans and Leases Receivable, Net Amount | 43 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Farmland Loan [Member] | ||
Loans Purchased In Business Combinations [Line Items] | ||
Loans and Leases Receivable, Net Amount | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | 1-4 Family Mortgages [Member] | ||
Loans Purchased In Business Combinations [Line Items] | ||
Loans and Leases Receivable, Net Amount | 706 | |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Real Estate Loan [Member] | ||
Loans Purchased In Business Combinations [Line Items] | ||
Loans and Leases Receivable, Net Amount | $ 0 |
Purchased Loans - Fair Value of
Purchased Loans - Fair Value of Loans Determined to be Impaired (Detail) - USD ($) $ in Thousands | Oct. 01, 2019 | Dec. 31, 2019 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually-required principal | $ 104,127 | |
Nonaccretable difference | (68) | |
Cash flows expected to be collected | 104,059 | |
Accretable yield | (394) | $ (8) |
Fair Value | $ 103,665 | |
Financial Asset Acquired with Credit Deterioration [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually-required principal | 993 | |
Nonaccretable difference | (68) | |
Cash flows expected to be collected | 925 | |
Accretable yield | (36) | |
Fair Value | $ 889 |
Purchased Loans - Accretable Yi
Purchased Loans - Accretable Yield of Loans Purchased with Deteriorated Credit Quality (Detail) - USD ($) $ in Thousands | Oct. 01, 2019 | Dec. 31, 2019 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | ||
Balance at January 1, 2019 | ||
Additions through acquisition | (36) | |
Reclasses from nonaccretable difference | 12 | |
Accretion | $ 394 | 8 |
Balance at December 31, 2019 | $ (16) |
Purchased Loans - Fair Value _2
Purchased Loans - Fair Value of Loans Purchased from Charter (Detail) - USD ($) $ in Thousands | Oct. 01, 2019 | Dec. 31, 2019 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | ||
Contractually-required principal | $ 104,127 | |
Nonaccretable difference | (68) | |
Cash flows expected to be collected | 104,059 | |
Accretable yield | (394) | $ (8) |
Fair Value | $ 103,665 |
Allowance for Loan Losses - Det
Allowance for Loan Losses - Detailed Activity in Allowance for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | $ 3,372 | $ 3,019 | $ 3,903 | |||
Provision for (reversal of) loan losses | 573 | 334 | (543) | |||
Chargeoffs | 360 | 387 | 437 | |||
Recoveries | 170 | 406 | 96 | |||
Net chargeoffs (recoveries) | 190 | (19) | 341 | |||
Ending Balance | 3,755 | 3,372 | 3,019 | |||
Loans individually evaluated for impairment | $ 682 | $ 401 | $ 442 | |||
Loans collectively evaluated for impairment | 3,073 | 2,971 | 2,577 | |||
Ending Balance | 3,372 | 3,019 | 3,903 | 3,755 | 3,372 | 3,019 |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | 2,845 | 2,151 | 3,117 | |||
Provision for (reversal of) loan losses | 231 | 606 | (827) | |||
Chargeoffs | 115 | 223 | 169 | |||
Recoveries | 114 | 311 | 30 | |||
Net chargeoffs (recoveries) | 1 | (88) | 139 | |||
Ending Balance | 3,075 | 2,845 | 2,151 | |||
Loans individually evaluated for impairment | 610 | 401 | 442 | |||
Loans collectively evaluated for impairment | 2,465 | 2,444 | 1,709 | |||
Ending Balance | 3,075 | 2,151 | 3,117 | 3,075 | 2,845 | 2,151 |
Real Estate Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | 222 | 347 | 258 | |||
Provision for (reversal of) loan losses | 247 | (113) | 254 | |||
Chargeoffs | 107 | 19 | 166 | |||
Recoveries | 9 | 7 | 1 | |||
Net chargeoffs (recoveries) | 98 | 12 | 165 | |||
Ending Balance | 371 | 222 | 347 | |||
Loans individually evaluated for impairment | 72 | |||||
Loans collectively evaluated for impairment | 299 | 222 | 347 | |||
Ending Balance | 371 | 347 | 258 | 371 | 222 | 347 |
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | 305 | 521 | 528 | |||
Provision for (reversal of) loan losses | 95 | (159) | 30 | |||
Chargeoffs | 138 | 145 | 102 | |||
Recoveries | 47 | 88 | 65 | |||
Net chargeoffs (recoveries) | 91 | 57 | 37 | |||
Ending Balance | 309 | 305 | 521 | |||
Loans collectively evaluated for impairment | 309 | 305 | 521 | |||
Ending Balance | $ 309 | $ 521 | $ 528 | $ 309 | $ 305 | $ 521 |
Allowance for Loan Losses - Rec
Allowance for Loan Losses - Recorded Investment in Loans Related to Balance in Allowance for Possible Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for specific impairment | $ 11,135 | $ 10,306 |
Loans collectively evaluated for general impairment | 564,937 | 419,016 |
Acquired with deteriorated credit quality | 749 | |
Total Gross Loans | 577,075 | 429,322 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for specific impairment | 10,991 | 10,306 |
Loans collectively evaluated for general impairment | 449,138 | 337,668 |
Acquired with deteriorated credit quality | 749 | |
Total Gross Loans | 460,878 | 347,974 |
Real Estate Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for specific impairment | 144 | |
Loans collectively evaluated for general impairment | 100,187 | 67,328 |
Total Gross Loans | 100,331 | 67,328 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans collectively evaluated for general impairment | 15,866 | 14,020 |
Total Gross Loans | $ 15,866 | $ 14,020 |
Allowance for Loan Losses - Net
Allowance for Loan Losses - Net Charge offs (Recoveries) Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | $ 190 | $ (19) | $ 341 |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | 1 | (88) | 139 |
Commercial Real Estate Portfolio Segment [Member] | Farmland Loan [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | 3 | ||
Commercial Real Estate Portfolio Segment [Member] | Land Development And Construction Loans [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | (18) | 56 | 98 |
Commercial Real Estate Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | 32 | 51 | 41 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | (13) | (198) | |
Real Estate Loans [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | 98 | 12 | 165 |
Real Estate Loans [Member] | Commercial and Industrial Loans [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | 98 | 12 | 165 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | 91 | 57 | 37 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | 34 | 36 | (7) |
Consumer Portfolio Segment [Member] | Other Consumer Loan [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Net chargeoffs (recoveries) | $ 57 | $ 21 | $ 44 |
Bank Premises, Furniture, Fix_3
Bank Premises, Furniture, Fixtures and Equipment - Bank Premises, Furniture, Fixtures and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Bank premises, furniture, fixtures and equipment | $ 42,238 | $ 33,064 |
Less accumulated depreciation | 17,566 | 13,347 |
Total | 24,672 | 19,717 |
Land and buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Bank premises, furniture, fixtures and equipment | 33,791 | 27,052 |
Furniture, fixtures and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Bank premises, furniture, fixtures and equipment | $ 8,447 | $ 6,012 |
Bank Premises, Furniture, Fix_4
Bank Premises, Furniture, Fixtures and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating lease right-of-use ("ROU") | $ 771,000 | ||
Weighted average remaining lease term | 1 year 2 months 12 days | ||
Weighted average discount rate | 3.30% | ||
Depreciation expense | $ 899 | $ 937 | $ 1,003 |
Bank Premises, Furniture, Fix_5
Bank Premises, Furniture, Fixtures and Equipment - Summary of Lease Costs (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Property, Plant and Equipment [Abstract] | |
Operating lease cost | $ 370 |
Short-term lease cost | 23 |
Total lease cost | $ 393 |
Bank Premises, Furniture, Fix_6
Bank Premises, Furniture, Fixtures and Equipment - Maturities of Operating Lease Liabilities (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Lease payments due: | |
Within one year | $ 348 |
After one year but within two years | 312 |
After two years but within three years | 139 |
After three year but within four years | 2 |
Total undiscounted cash flows | 801 |
Discount on cash flows | (30) |
Total lease liability | $ 771 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Core Deposits [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense | $ 27 | $ 0 | $ 0 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Carrying Amount of Goodwill (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Beginning balance | $ 3,150 |
Addition to goodwill from Charter acquisition | 9,953 |
Ending balance | $ 13,103 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Schedule of Finite Lived Intangible Assets (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Core deposit intangible | $ 766 |
Accumulated amortization | (27) |
Total | $ 739 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets - Summary of Finite Lived Intangible Assets Future Amortization Expense (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2020 | $ 109 |
2021 | 109 |
2022 | 109 |
2023 | 109 |
2024 | 109 |
Thereafter | 194 |
Total | $ 739 |
Deposits - Composition of Depos
Deposits - Composition of Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Banking and Thrift [Abstract] | ||
Non-interest bearing | $ 190,406 | $ 170,030 |
NOW and money market accounts | 369,354 | 298,220 |
Savings deposits | 83,065 | 76,736 |
Time deposits, $250,000 or more | 74,098 | 65,407 |
Other time deposits | 182,073 | 145,829 |
Total deposits | $ 898,996 | $ 756,222 |
Deposits - Scheduled Maturities
Deposits - Scheduled Maturities of Time Deposits (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Banking and Thrift [Abstract] | |
2020 | $ 137,630 |
2021 | 59,641 |
2022 | 27,709 |
2023 | 15,912 |
2024 | 15,279 |
Total Time deposit | $ 256,171 |
Federal Home Loan Bank Advanc_2
Federal Home Loan Bank Advances - Additional Information (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal home loan bank advance | $ 0 | $ 0 |
Mortgage and Other Loans [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal home loan bank advance | 177,592,000 | |
Other Assets [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal Home Loan Bank securities | $ 3,083,000 | $ 2,253,000 |
Other Income and Other Expens_2
Other Income and Other Expense - Major Income Classifications Included in Other Income Under Non Interest Income on Income Statement (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Component Of Other Expense Income Nonoperating [Line Items] | |||
Other income | $ 2,015 | $ 1,148 | $ 1,315 |
BOLI Insurance [Member] | |||
Component Of Other Expense Income Nonoperating [Line Items] | |||
Other income | 471 | 495 | 528 |
Mortgage Loan Origination Income [Member] | |||
Component Of Other Expense Income Nonoperating [Line Items] | |||
Other income | 320 | 363 | 340 |
Other Income [Member] | |||
Component Of Other Expense Income Nonoperating [Line Items] | |||
Other income | $ 1,224 | $ 290 | $ 447 |
Other Income and Other Expens_3
Other Income and Other Expense - Major Expense Classifications Comprising of Other Expense Line Item in Income Statement (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Income and Expenses [Abstract] | |||
Advertising | $ 551 | $ 640 | $ 650 |
Office Supplies | 973 | 975 | 1,009 |
Professional fees | 1,668 | 561 | 515 |
FDIC and State Assessment | 274 | 350 | 417 |
Telephone Expense | 501 | 520 | 530 |
Postage and Freight | (49) | 567 | 545 |
Loan Collection Expense | 286 | 288 | 472 |
Other Losses | 73 | 243 | 463 |
Debit Card/ATM expense | 551 | 471 | 413 |
Travel and Convention | 200 | 207 | 255 |
Other expenses | 2,402 | 2,582 | 2,801 |
Total Other Expense | $ 7,430 | $ 7,404 | $ 8,070 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Loss Carryforwards [Line Items] | |||
Statutory federal corporate tax rate | 35.00% | 21.00% | |
Revaluation of net deferred tax assets as a result of the Tax Cuts and Jobs Act | $ 2,559 | ||
Operating loss for the year | $ 4,848 | ||
Tax Year 2018 [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss for the year | 2,060 | ||
Tax Year 2019 [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss for the year | $ 2,788 | ||
Domestic Tax Authority [Member] | Tax Year 2017 [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carry forward expiration Date | 2028 |
Income Taxes - Provision for In
Income Taxes - Provision for Income Tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Federal | $ 806 | $ (181) | $ 258 |
State | 89 | 36 | (72) |
Current Income Tax Expense (Benefit), Total | 895 | (145) | 186 |
Deferred tax expense | 459 | 973 | 3,885 |
Income tax expense | $ 1,354 | $ 828 | $ 4,071 |
Income Taxes - Differences betw
Income Taxes - Differences between Income Taxes Calculated at Federal Statutory Rate and Income Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Federal taxes based on statutory rate | $ 1,524 | $ 1,575 | $ 2,643 |
State income taxes, net of federal benefit | 145 | 133 | (48) |
Tax-exempt investment interest | (309) | (487) | (1,074) |
Revaluation of net deferred tax assets as a result of the Tax Cuts and Jobs Act | 2,559 | ||
Other, net | (6) | (394) | (9) |
Income tax expense | $ 1,354 | $ 828 | $ 4,071 |
Income Taxes - Net Deferred Tax
Income Taxes - Net Deferred Tax Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets | ||
Allowance for loan losses | $ 937 | $ 841 |
Deferred compensation liability | 2,488 | 2,419 |
Net operating loss carryforward | 1,000 | |
Other real estate owned | 819 | 435 |
Acquisition fair value adjustments | 130 | |
Unrealized loss on securities available-for-sale | 262 | 4,978 |
Other | 6 | |
Total | 5,642 | 8,673 |
Deferred tax liabilities | ||
Premises and equipment | 1,603 | 1,856 |
Core deposit intangible | 184 | |
Other | 171 | 183 |
Total | 1,958 | 2,039 |
Net deferred tax asset | $ 3,684 | $ 6,634 |
Summarized Financial Informat_3
Summarized Financial Information of Citizens Holding Company - Summarized Balance Sheets Financial Information of Citizens Holding Company (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Assets | |||||||
Other assets | $ 20,468 | $ 7,966 | |||||
Total assets | 1,195,434 | 958,630 | |||||
Liabilities | |||||||
Other liabilities | 2,647 | 1,053 | |||||
Shareholders' equity | 112,800 | 83,866 | $ 88,452 | $ 85,059 | |||
Total liabilities and shareholders' equity | 1,195,434 | 958,630 | |||||
Citizens Holding Company [Member] | |||||||
Assets | |||||||
Cash | 1,736 | [1] | 1,596 | [1] | $ 2,370 | $ 1,444 | |
Investment in bank subsidiary | [1] | 110,892 | 82,002 | ||||
Other assets | [1] | 172 | 268 | ||||
Total assets | 112,800 | 83,866 | |||||
Liabilities | |||||||
Other liabilities | |||||||
Shareholders' equity | 112,800 | 83,866 | |||||
Total liabilities and shareholders' equity | $ 112,800 | $ 83,866 | |||||
[1] | Fully or partially eliminates in consolidation. |
Summarized Financial Informat_4
Summarized Financial Information of Citizens Holding Company - Summarized Income Statement Financial Information of Citizens Holding Company (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Other income | ||||
Other income | $ 2,015 | $ 1,148 | $ 1,315 | |
Total non-interest income | 9,748 | 8,600 | 8,297 | |
Other expense | 7,430 | 7,404 | 8,070 | |
Income tax benefit | 1,354 | 828 | 4,071 | |
Net income | 5,902 | 6,673 | 3,704 | |
Citizens Holding Company [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Interest income | [1] | 2 | 2 | 2 |
Other income | ||||
Dividends from bank subsidiary | [1] | 11,242 | 3,990 | 5,472 |
Equity in undistributed earnings (loss) of bank subsidiary | [1] | (4,965) | 3,022 | (1,349) |
Other income | ||||
Total non-interest income | 6,277 | 7,012 | 4,123 | |
Other expense | 462 | 446 | 459 | |
Income before income taxes | 5,817 | 6,568 | 3,666 | |
Income tax benefit | (85) | (105) | (38) | |
Net income | $ 5,902 | $ 6,673 | $ 3,704 | |
[1] | Eliminates in consolidation. |
Summarized Financial Informat_5
Summarized Financial Information of Citizens Holding Company - Summarized Statements of Cash Flows Financial Information of Citizens Holding Company (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Cash flows from operating activities | ||||||
Net income | $ 5,902 | $ 6,673 | $ 3,704 | |||
Adjustments to reconcile net income to net cash provided by operating activities | ||||||
Stock compensation expense | (163) | (170) | (211) | |||
Increase in other assets | 709 | 771 | 722 | |||
Net cash provided by operating activities | 11,947 | 12,171 | 10,619 | |||
Cash flows from investing activities | ||||||
Net cash (used by) provided by investing activities | (73,662) | 17,633 | 26,013 | |||
Cash flows from financing activities | ||||||
Dividends paid to shareholders | (4,874) | (4,706) | (4,697) | |||
Proceeds from stock option exercises | 27 | 93 | ||||
Net cash provided by (used in) financing activities | 65,060 | (35,175) | (40,358) | |||
Citizens Holding Company [Member] | ||||||
Cash flows from operating activities | ||||||
Net income | 5,902 | 6,673 | 3,704 | |||
Adjustments to reconcile net income to net cash provided by operating activities | ||||||
Equity in undistributed loss (earnings) of the Bank | [1] | 4,965 | (3,022) | 1,349 | ||
Stock compensation expense | 163 | 170 | 211 | |||
Increase in other assets | 97 | 84 | 266 | |||
Net cash provided by operating activities | 11,127 | 3,905 | 5,530 | |||
Cash flows from investing activities | ||||||
Net cash paid in acquisition activities | (6,113) | |||||
Net cash (used by) provided by investing activities | (6,113) | |||||
Cash flows from financing activities | ||||||
Dividends paid to shareholders | (4,874) | (4,706) | (4,697) | |||
Proceeds from stock option exercises | 27 | 93 | ||||
Net cash provided by (used in) financing activities | (4,874) | (4,679) | (4,604) | |||
Net increase (decrease) in cash | 140 | (774) | 926 | |||
Cash, beginning of year | 1,596 | [2] | 2,370 | 1,444 | ||
Cash, end of year | $ 1,736 | [2] | $ 1,596 | [2] | $ 2,370 | |
[1] | Eliminates in consolidation. | |||||
[2] | Fully or partially eliminates in consolidation. |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Related Party Transactions [Abstract] | ||
Deposits from related parties | $ 5,406 | $ 5,606 |
Off-Balance Sheet Financial I_2
Off-Balance Sheet Financial Instruments, Commitments and Contingencies and Concentrations of Risks - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Commitments and Contingencies Disclosure [Abstract] | ||
Loan commitments | $ 94,009 | $ 58,835 |
Letters of credit outstanding | $ 2,436 | $ 2,517 |
Benefit Plans - Additional Info
Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of employer's matching contribution | 50.00% | ||
Employer's annual contribution | $ 605 | $ 590 | $ 538 |
Defined contribution plan, service period for eligibility | 1 year | ||
Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer's matching contribution as percentage of each participant's compensation, maximum | 3.00% | ||
Director [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Deferred compensation expense | $ 173 | 194 | 190 |
Officer [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Deferred compensation expense | $ 586 | $ 535 | $ 522 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) | Dec. 31, 2019 | Jan. 01, 2015 |
Regulatory Matters [Line Items] | ||
Total risk-based capital ratio, Actual Ratio | 8.00% | |
Tier 1 risk-based capital ratio, Actual Ratio | 4.00% | |
Basel III [Member] | ||
Regulatory Matters [Line Items] | ||
Leverage capital ratio | 3.00% | |
Basel III [Member] | Criteria 1 [Member] | ||
Regulatory Matters [Line Items] | ||
Total risk-based capital ratio, Actual Ratio | 10.50% | |
Tier 1 risk-based capital ratio, Actual Ratio | 8.50% | |
Common Equity tier 1 capital ratio, Actual Ratio | 7.00% | |
Basel III [Member] | Criteria 2 [Member] | ||
Regulatory Matters [Line Items] | ||
Total risk-based capital ratio, Actual Ratio | 10.00% | |
Tier 1 risk-based capital ratio, Actual Ratio | 8.00% | |
Common Equity tier 1 capital ratio, Actual Ratio | 6.50% | |
Leverage capital ratio | 5.00% | |
Minimum [Member] | Basel III [Member] | ||
Regulatory Matters [Line Items] | ||
Total risk-based capital ratio, Actual Ratio | 8.00% | |
Tier 1 risk-based capital ratio, Actual Ratio | 4.00% | |
Consolidated risk weighted asset | $ 500,000,000 | |
Minimum [Member] | Basel III [Member] | Criteria 1 [Member] | ||
Regulatory Matters [Line Items] | ||
Common Equity tier 1 capital ratio, Actual Ratio | 2.50% | |
Maximum [Member] | Basel III [Member] | ||
Regulatory Matters [Line Items] | ||
Tier 1 risk-based capital ratio, Actual Ratio | 6.00% | |
Common Equity tier 1 capital ratio, Actual Ratio | 4.50% | |
Leverage capital ratio | 4.00% |
Regulatory Matters - Minimum To
Regulatory Matters - Minimum Total Risk-Based, Tier I Risk-Based, and Tier I Leverage Ratios (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 risk-based capital ratio, Actual Ratio | 4.00% | |
Total risk-based capital ratio, Actual Ratio | 8.00% | |
Citizens Holding Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage ratio | $ 98,733 | $ 95,691 |
Common Equity tier 1 capital ratio | 98,733 | 95,691 |
Tier 1 risk-based capital ratio | 98,733 | 95,691 |
Total risk-based capital ratio | $ 102,488 | $ 99,063 |
Tier 1 leverage ratio, Actual Ratio | 8.33% | 9.93% |
Common Equity tier 1 capital ratio, Actual Ratio | 8.33% | 9.93% |
Tier 1 risk-based capital ratio, Actual Ratio | 13.86% | 17.41% |
Total risk-based capital ratio, Actual Ratio | 14.39% | 18.03% |
Tier 1 leverage ratio, Minimum Capital Requirement to be Well Capitalized, Amount | $ 59,270 | $ 48,191 |
Common Equity tier 1 capital ratio, Minimum Capital Requirement to be Well Capitalized, Amount | 77,051 | 62,648 |
Tier 1 risk-based capital ratio, Minimum Capital Requirement to be Well Capitalized, Amount | 56,972 | 43,966 |
Total risk-based capital ratio, Minimum Capital Requirement to be Well Capitalized, Amount | $ 71,215 | $ 54,957 |
Tier 1 leverage ratio, Minimum Capital Requirement to be Well Capitalized, Ratio | 5.00% | 5.00% |
Common Equity tier 1 capital ratio, Minimum Capital Requirement to be Well Capitalized, Ratio | 6.50% | 6.50% |
Tier 1 risk-based capital ratio, Minimum Capital Requirement to be Well Capitalized, Ratio | 8.00% | 8.00% |
Total risk-based capital ratio, Minimum Capital Requirement to be Well Capitalized, Ratio | 10.00% | 10.00% |
Tier 1 leverage ratio, Minimum Capital Requirement to be Adequately Capitalized, Amount | $ 47,416 | $ 38,553 |
Common Equity tier 1 capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Amount | 53,343 | 43,372 |
Tier 1 risk-based capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Amount | 42,729 | 32,974 |
Total risk-based capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Amount | $ 56,972 | $ 43,966 |
Tier 1 leverage ratio, Minimum Capital Requirement to be Adequately Capitalized, Ratio | 4.00% | 4.00% |
Common Equity tier 1 capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Ratio | 4.50% | 4.50% |
Tier 1 risk-based capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Ratio | 6.00% | 6.00% |
Total risk-based capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Ratio | 8.00% | 8.00% |
Citizens Bank of Philadelphia [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage ratio | $ 96,824 | $ 93,827 |
Common Equity tier 1 capital ratio | 96,824 | 93,827 |
Tier 1 risk-based capital ratio | 96,824 | 93,827 |
Total risk-based capital ratio | $ 100,579 | $ 97,199 |
Tier 1 leverage ratio, Actual Ratio | 8.18% | 9.74% |
Common Equity tier 1 capital ratio, Actual Ratio | 8.18% | 9.74% |
Tier 1 risk-based capital ratio, Actual Ratio | 13.60% | 17.08% |
Total risk-based capital ratio, Actual Ratio | 14.13% | 17.69% |
Tier 1 leverage ratio, Minimum Capital Requirement to be Well Capitalized, Amount | $ 59,206 | $ 48,178 |
Common Equity tier 1 capital ratio, Minimum Capital Requirement to be Well Capitalized, Amount | 76,968 | 62,631 |
Tier 1 risk-based capital ratio, Minimum Capital Requirement to be Well Capitalized, Amount | 56,958 | 43,944 |
Total risk-based capital ratio, Minimum Capital Requirement to be Well Capitalized, Amount | $ 71,198 | $ 54,930 |
Tier 1 leverage ratio, Minimum Capital Requirement to be Well Capitalized, Ratio | 5.00% | 5.00% |
Common Equity tier 1 capital ratio, Minimum Capital Requirement to be Well Capitalized, Ratio | 6.50% | 6.50% |
Tier 1 risk-based capital ratio, Minimum Capital Requirement to be Well Capitalized, Ratio | 8.00% | 8.00% |
Total risk-based capital ratio, Minimum Capital Requirement to be Well Capitalized, Ratio | 10.00% | 10.00% |
Tier 1 leverage ratio, Minimum Capital Requirement to be Adequately Capitalized, Amount | $ 47,365 | $ 38,542 |
Common Equity tier 1 capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Amount | 53,285 | 43,360 |
Tier 1 risk-based capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Amount | 42,719 | 32,958 |
Total risk-based capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Amount | $ 56,958 | $ 43,944 |
Tier 1 leverage ratio, Minimum Capital Requirement to be Adequately Capitalized, Ratio | 4.00% | 4.00% |
Common Equity tier 1 capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Ratio | 4.50% | 4.50% |
Tier 1 risk-based capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Ratio | 6.00% | 6.00% |
Total risk-based capital ratio, Minimum Capital Requirement to be Adequately Capitalized, Ratio | 8.00% | 8.00% |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value Disclosures [Abstract] | ||
Carrying value of an impaired loan | $ 5,003 | $ 3,365 |
Impaired loans, allowance for loan losses | $ 427 | $ 401 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | $ 464,383 | $ 444,746 |
Obligations of U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 97,111 | 95,978 |
Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 306,900 | 247,374 |
State, County and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 60,372 | 101,394 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 464,383 | 444,746 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 464,383 | 444,746 |
Fair Value, Measurements, Recurring [Member] | Obligations of U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 97,111 | 95,978 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 306,900 | 247,374 |
Fair Value, Measurements, Recurring [Member] | State, County and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 60,372 | 101,394 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 464,383 | 444,746 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Obligations of U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 97,111 | 95,978 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 306,900 | 247,374 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | State, County and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | $ 60,372 | $ 101,394 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments - Asset Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring Basis | $ 4,576,000 | $ 3,554,000 |
Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring Basis | 4,576,000 | 3,365 |
Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring Basis | 189,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring Basis | $ 4,576,000 | 3,365 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring Basis | $ 189,000 |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Financial assets | ||
Cash and due from banks | $ 15,937,000 | $ 12,592,000 |
Interest bearing deposits with banks | 58,557,000 | 8,080,000 |
Federal funds sold | 1,600,000 | |
Securities available-for-sale | 464,383,000 | 444,746,000 |
Net loans | 569,640,000 | 420,992,000 |
Financial liabilities | ||
Deposits | 900,925 | 755,463 |
Securities Sold under Agreement to Repurchase | 170,410,000 | 107,965,000 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial assets | ||
Cash and due from banks | 15,937,000 | 12,592,000 |
Interest bearing deposits with banks | 58,557,000 | 8,080,000 |
Federal funds sold | 1,600,000 | |
Financial liabilities | ||
Deposits | 642,825 | 544,986 |
Securities Sold under Agreement to Repurchase | 170,410,000 | 107,965,000 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial assets | ||
Securities available-for-sale | 464,383,000 | 444,746,000 |
Financial liabilities | ||
Deposits | 258,100 | 210,477 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial assets | ||
Net loans | 569,640,000 | 420,992,000 |
Carrying Value [Member] | ||
Financial assets | ||
Cash and due from banks | 15,937,000 | 12,592,000 |
Interest bearing deposits with banks | 58,557,000 | 8,080,000 |
Federal funds sold | 1,600,000 | |
Securities available-for-sale | 464,383,000 | 444,746,000 |
Net loans | 573,312,000 | 425,905,000 |
Financial liabilities | ||
Deposits | 898,996 | 756,222 |
Securities Sold under Agreement to Repurchase | $ 170,410,000 | $ 107,965,000 |
Stock Based Compensation - Addi
Stock Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock options granted | 0 | 0 | |||||
Common stock market value per share | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | |||
Restricted stock non-vested shares | 12,000,000 | 12,000,000 | |||||
Unrecognized stock-based compensation expense | $ 54 | $ 54 | |||||
Total intrinsic value of options exercised | $ 0 | $ 24 | |||||
2013 Incentive Compensation Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock options granted | 0 | ||||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Common stock market value per share | $ 21,530 | $ 22,050 | $ 21,530 | $ 22,050 | |||
Restricted stock restriction period | 1 year | 1 year | |||||
Restricted stock grants | 7,500 | 7,500 | |||||
Restricted stock grant date fair value | $ 161 | $ 165 | $ 161 | $ 165 | |||
Restricted stock cost | 13 | 14 | 163 | 170 | |||
Restricted stock, deferred taxes | $ 3 | $ 3 | $ 42 | $ 41 | |||
Restricted Stock [Member] | Chief Executive Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Restricted stock restriction period | 5 years | ||||||
Restricted stock grants | 7,500 | ||||||
Restricted stock cost | $ 37 | $ 32 | |||||
Restricted stock vesting percentage | 20.00% | 20.00% | |||||
Number of restricted Shares Vested | 1,500 | 1,500 | |||||
Employee Stock Option Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock options granted, expiration period | 10 years | ||||||
Directors Stock Option Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Restricted stock restriction period | 6 months | ||||||
Stock options granted, expiration period | 10 years | ||||||
Intrinsic value of options granted | $ 52 | ||||||
Directors Stock Option Plan [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock options granted | 210,000,000 |
Stock Based Compensation - Summ
Stock Based Compensation - Summary of Status of Plans (Detail) - Directors Stock Option Plan Member [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning Balance | 52,500 | 63,000 | 78,000 |
Granted | 0 | 0 | 0 |
Exercised | 0 | (6,000) | (6,000) |
Expired | (12,000) | (4,500) | (9,000) |
Ending Balance | 40,500 | 52,500 | 63,000 |
Options exercisable at: December 31, 2019 | 40,500 | ||
Beginning Balance | $ 21.55 | $ 20.96 | $ 21.08 |
Granted | 0 | 0 | 0 |
Exercised | 0 | 18 | 20.94 |
Expired | 21.75 | 18 | 22 |
Ending Balance | 21.49 | $ 21.55 | $ 20.96 |
Weighted average exercise price of Options exercisable at: December 31, 2019 | $ 21.49 |
Stock Based Compensation - Outs
Stock Based Compensation - Outstanding Stock Options Granted In Relation to Option Price and Weighted Average Maturity (Detail) | 12 Months Ended |
Dec. 31, 2019$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding | shares | 40,500,000 |
Weighted Average Price | $ 21,490 |
Weighted Average Life Remaining | 0 days |
Exercise Price 1 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | $ 15,010 |
Range of Exercise Prices, Upper Limit | $ 20,000 |
Options Outstanding | shares | 13,500,000 |
Weighted Average Price | $ 18,760 |
Weighted Average Life Remaining | 0 days |
Exercise Price 2 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | $ 20,010 |
Range of Exercise Prices, Upper Limit | $ 22,500 |
Options Outstanding | shares | 13,500,000 |
Weighted Average Price | $ 20,020 |
Weighted Average Life Remaining | 0 days |
Exercise Price 3 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | $ 22,510 |
Options Outstanding | shares | 13,500,000 |
Weighted Average Price | $ 25,720 |
Weighted Average Life Remaining | 0 days |