Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 28, 2018 | Jun. 30, 2017 | |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | FIDELITY D & D BANCORP INC | ||
Entity Central Index Key | 1,098,151 | ||
Trading Symbol | fdbc | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 3,751,480 | ||
Entity Public Float | $ 82.4 | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets: | ||
Cash and due from banks | $ 14,143 | $ 12,856 |
Interest-bearing deposits with financial institutions | 1,682 | 12,987 |
Total cash and cash equivalents | 15,825 | 25,843 |
Available-for-sale securities | 157,385 | 130,037 |
Federal Home Loan Bank stock | 2,832 | 2,606 |
Loans and leases, net (allowance for loan losses of $9,193 in 2017; $9,364 in 2016) | 628,767 | 588,130 |
Loans held-for-sale (fair value $2,221 in 2017, $2,907 in 2016) | 2,181 | 2,854 |
Foreclosed assets held-for-sale | 973 | 1,306 |
Bank premises and equipment, net | 16,576 | 17,164 |
Cash surrender value of bank owned life insurance | 20,017 | 11,435 |
Accrued interest receivable | 2,786 | 2,246 |
Goodwill | 209 | |
Other assets | 16,086 | 11,323 |
Total assets | 863,637 | 792,944 |
Liabilities: | ||
Deposits: Interest-bearing | 551,515 | 492,306 |
Deposits: Non-interest-bearing | 178,631 | 211,153 |
Total deposits | 730,146 | 703,459 |
Accrued interest payable and other liabilities | 6,402 | 4,631 |
Short-term borrowings | 18,502 | 4,223 |
FHLB advances | 21,204 | |
Total liabilities | 776,254 | 712,313 |
Shareholders' equity: | ||
Preferred stock authorized 5,000,000 shares with no par value; none issued | ||
Capital stock, no par value (10,000,000 shares authorized; shares issued and outstanding; 3,734,478 in 2017; and 2,453,805 in 2016) | 28,361 | 27,155 |
Retained earnings | 57,218 | 52,095 |
Accumulated other comprehensive income | 1,804 | 1,381 |
Total shareholders' equity | 87,383 | 80,631 |
Total liabilities and shareholders' equity | $ 863,637 | $ 792,944 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Consolidated Balance Sheets [Abstract] | ||
Loans, allowance for loan losses | $ 9,193 | $ 9,364 |
Loans held-for-sale, fair value | $ 2,221 | $ 2,907 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, no par value | $ 0 | $ 0 |
Preferred stock, shares issued | 0 | 0 |
Capital stock, no par value | $ 0 | $ 0 |
Capital stock, shares authorized | 10,000,000 | 10,000,000 |
Capital stock, shares issued | 3,734,478 | 2,453,805 |
Capital stock, shares outstanding | 3,734,478 | 2,453,805 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Interest income: | ||||
Loans and leases: Taxable | $ 26,035 | $ 23,609 | $ 22,710 | |
Loans and leases: Nontaxable | 860 | 753 | 654 | |
Interest-bearing deposits with financial institutions | 48 | 67 | 26 | |
Restricted regulatory securities | 135 | 54 | 123 | |
Investment securities: | ||||
U.S. government agency and corporations | 2,515 | 1,709 | 1,180 | |
States and political subdivisions (nontaxable) | 1,449 | 1,282 | 1,301 | |
Other securities | 22 | 21 | 20 | |
Total interest income | 31,064 | 27,495 | 26,014 | |
Interest expense: | ||||
Deposits | 2,750 | 2,309 | 2,236 | |
Securities sold under repurchase agreements | 21 | 20 | 18 | |
Other short-term borrowings and other | 205 | 29 | 20 | |
FHLB advances | 247 | 255 | ||
Total interest expense | 3,223 | 2,358 | 2,529 | |
Net interest income | 27,841 | 25,137 | 23,485 | |
Provision for loan losses | 1,450 | 1,025 | 1,075 | |
Net interest income after provision for loan losses | 26,391 | 24,112 | 22,410 | |
Other income: | ||||
Service charges on deposit accounts | 2,227 | 2,139 | 1,756 | |
Interchange fees | 1,756 | 1,551 | 1,375 | |
Fees from trust fiduciary activities | 1,040 | 721 | 739 | |
Fees from financial services | 596 | 586 | 504 | |
Service charges on loans | 728 | 859 | 809 | |
Fees and other revenue | 872 | 783 | 764 | |
Earnings on bank-owned life insurance | 581 | 353 | 342 | |
Gain (loss) on sale or disposal of: | ||||
Loans | 878 | 1,009 | 1,191 | |
Investment securities | (147) | 9 | 80 | |
Premises and equipment | (164) | (5) | (27) | |
Total other income | 8,367 | 8,005 | 7,533 | |
Other expenses: | ||||
Salaries and employee benefits | 13,072 | 11,594 | 10,476 | |
Premises and equipment | 3,838 | 3,543 | 3,590 | |
Advertising and marketing | 1,859 | 1,223 | 1,482 | |
Professional services | 1,863 | 1,561 | 1,631 | |
Data processing and communication | 1,233 | 981 | 582 | |
Automated transaction processing | 735 | 607 | 615 | |
Office supplies and postage | 460 | 472 | 434 | |
FDIC assessment | 267 | 351 | 397 | |
PA shares tax | 262 | 320 | 148 | |
Loan collection | 224 | 194 | 160 | |
Other real estate owned | 200 | 207 | 205 | |
FHLB prepayment fee | 570 | |||
Other | 823 | 602 | 732 | |
Total other expenses | 24,836 | 21,655 | 21,022 | |
Income before income taxes | 9,922 | 10,462 | 8,921 | |
Provision for income taxes | 1,206 | 2,769 | 1,818 | |
Net income | $ 8,716 | $ 7,693 | $ 7,103 | |
Per share data: | ||||
Net income - basic | [1] | $ 2.35 | $ 2.09 | $ 1.94 |
Net income - diluted | [1] | 2.33 | 2.09 | 1.94 |
Dividends | [1] | $ 0.88 | $ 0.83 | $ 0.77 |
[1] | On August 15, 2017, the Company declared a three-for-two stock split effected in the form of a 50% stock dividend. Per share data for the years ended December 31, 2016 and 2015 has been restated for the effects thereof. |
Consolidated Statements of Inc5
Consolidated Statements of Income (Parenthetical) | 12 Months Ended |
Dec. 31, 2017 | |
Consolidated Statements of Income [Abstract] | |
Dividend declared | Aug. 15, 2017 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Consolidated Statements of Comprehensive Income [Abstract] | |||
Net income | $ 8,716 | $ 7,693 | $ 7,103 |
Other comprehensive income (loss), before tax: | |||
Unrealized holding gain (loss) on available-for-sale securities | 44 | (1,213) | (761) |
Reclassification adjustment for net losses (gains) realized in income | 147 | (9) | (80) |
Net unrealized gain (loss) | 191 | (1,222) | (841) |
Tax effect | (65) | 415 | 286 |
Unrealized gain (loss), net of tax | 126 | (807) | (555) |
Other comprehensive income (loss), net of tax | 126 | (807) | (555) |
Total comprehensive income, net of tax | $ 8,842 | $ 6,886 | $ 6,548 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Capital Stock [Member] | Retained earnings [Member] | Accumulated other comprehensive income [Member] | Total |
Balance at Dec. 31, 2014 | $ 26,272 | $ 43,204 | $ 2,743 | $ 72,219 |
Balance, shares at Dec. 31, 2014 | 2,427,767 | |||
Net income | 7,103 | 7,103 | ||
Other comprehensive income (loss) | (555) | (555) | ||
Issuance of common stock through Employee Stock Purchase Plan | $ 102 | 102 | ||
Issuance of common stock through Employee Stock Purchase Plan, shares | 4,358 | |||
Issuance of common stock from vested restricted share grants through stock compensation plans, shares | 7,780 | |||
Issuance of common stock through exercise of stock options | $ 101 | 101 | ||
Issuance of common stock through exercise of stock options, shares | 3,500 | |||
Stock-based compensation expense | $ 225 | 225 | ||
Cash dividends declared | (2,844) | (2,844) | ||
Balance, shares at Dec. 31, 2015 | 2,443,405 | |||
Balance at Dec. 31, 2015 | $ 26,700 | 47,463 | 2,188 | 76,351 |
Net income | 7,693 | 7,693 | ||
Other comprehensive income (loss) | (807) | (807) | ||
Issuance of common stock through Employee Stock Purchase Plan | $ 111 | 111 | ||
Issuance of common stock through Employee Stock Purchase Plan, shares | 3,695 | |||
Issuance of common stock from vested restricted share grants through stock compensation plans, shares | 6,205 | |||
Issuance of common stock through exercise of stock options | $ 14 | 14 | ||
Issuance of common stock through exercise of stock options, shares | 500 | |||
Stock-based compensation expense | $ 330 | 330 | ||
Cash dividends declared | (3,061) | (3,061) | ||
Balance, shares at Dec. 31, 2016 | 2,453,805 | |||
Balance at Dec. 31, 2016 | $ 27,155 | 52,095 | 1,381 | 80,631 |
Net income | 8,716 | 8,716 | ||
Effect of adopting ASU 2018-02 | (297) | 297 | ||
Other comprehensive income (loss) | 126 | 126 | ||
Issuance of common stock through Employee Stock Purchase Plan | $ 126 | 126 | ||
Issuance of common stock through Employee Stock Purchase Plan, shares | 4,085 | |||
Issuance of common stock through Dividend Reinvestment Plan | $ 331 | 331 | ||
Issuance of common stock through Dividend Reinvestment Plan, shares | 7,744 | |||
Issuance of common stock from vested restricted share grants through stock compensation plans, shares | 9,657 | |||
Issuance of common stock through exercise of stock options | $ 416 | 416 | ||
Issuance of common stock through exercise of stock options, shares | 16,000 | |||
Stock-based compensation expense | $ 333 | 333 | ||
Issuance of common stock from stock split | 1,243,187 | |||
Cash in lieu of fractional shares paid due to the stock split | (11) | (11) | ||
Cash dividends declared | (3,285) | (3,285) | ||
Balance, shares at Dec. 31, 2017 | 3,734,478 | |||
Balance at Dec. 31, 2017 | $ 28,361 | $ 57,218 | $ 1,804 | $ 87,383 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||
Net income | $ 8,716 | $ 7,693 | $ 7,103 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization, and accretion | 3,113 | 3,301 | 3,566 |
Provision for loan losses | 1,450 | 1,025 | 1,075 |
Deferred income tax (benefit) expense | (666) | 1,248 | 1,645 |
Stock-based compensation expense | 550 | 519 | 225 |
Excess tax benefit from exercise of stock options | 96 | ||
Proceeds from sale of loans held-for-sale | 43,350 | 51,656 | 48,356 |
Originations of loans held-for-sale | (38,624) | (46,670) | (46,131) |
Earnings from bank-owned life insurance | (581) | (353) | (342) |
Net gain from sales of loans | (878) | (1,009) | (1,191) |
Net loss (gain) from sales of investment securities | 147 | (9) | (80) |
Net loss from sale and write-down of foreclosed assets held-for-sale | 79 | 70 | 45 |
Net loss from disposal of equipment | 164 | 5 | 27 |
Change in: | |||
Accrued interest receivable | (536) | (36) | (124) |
Other assets | (3,989) | (1,895) | 776 |
Accrued interest payable and other liabilities | 1,496 | 314 | 775 |
Net cash provided by operating activities | 13,887 | 15,859 | 15,725 |
Available-for-sale securities: | |||
Proceeds from sales | 5,970 | 2,884 | 15,431 |
Proceeds from maturities, calls and principal pay-downs | 20,578 | 20,378 | 20,233 |
Purchases | (55,016) | (30,654) | (65,421) |
Increase in FHLB stock | (226) | (486) | (814) |
Net increase in loans and leases | (44,584) | (49,579) | (43,885) |
Purchase of life insurance policies | (8,000) | ||
Acquisition of bank premises and equipment | (921) | (1,476) | (1,596) |
Net cash acquired in acquisition of bank branch | 11,817 | ||
Proceeds from sale of bank premises and equipment | 6 | 1 | 52 |
Proceeds from sale of foreclosed assets held-for-sale | 534 | 771 | 1,376 |
Net cash used in investing activities | (69,842) | (58,161) | (74,624) |
Cash flows from financing activities: | |||
Net increase in deposits | 12,878 | 82,784 | 33,731 |
Net increase (decrease) in short-term borrowings | 14,278 | (23,980) | 24,235 |
Proceeds from issuance of FHLB advances | 25,704 | ||
Repayment of FHLB advances | (4,500) | (10,000) | |
Proceeds from employee stock purchase plan participants | 126 | 111 | 102 |
Exercise of stock options | 416 | 14 | 101 |
Dividends paid, net of dividends reinvested | (2,954) | (3,061) | (2,844) |
Cash paid in lieu of fractional shares | (11) | ||
Net cash provided by financing activities | 45,937 | 55,868 | 45,325 |
Net (decrease) increase in cash and cash equivalents | (10,018) | 13,566 | (13,574) |
Cash and cash equivalents, beginning | 25,843 | 12,277 | 25,851 |
Cash and cash equivalents, ending | 15,825 | 25,843 | 12,277 |
Supplemental Disclosures of Cash Flow Information, Cash payments for: | |||
Interest | 3,058 | 2,366 | 2,491 |
Income tax | 2,700 | 800 | 400 |
Supplemental Disclosures of Non-cash Investing Activities: | |||
Net change in unrealized gains on available-for-sale securities | 191 | (1,222) | (841) |
Transfers from loans to foreclosed assets held-for-sale | 280 | 1,132 | 620 |
Transfers from loans to loans held-for-sale | 3,821 | $ 6,037 | $ 2,056 |
Acquisition of West Scranton Branch from Wayne Bank, Non-cash assets acquired: | |||
Goodwill | $ 209 |
Nature Of Operations And Summar
Nature Of Operations And Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Nature Of Operations And Summary Of Significant Accounting Policies [Abstract] | |
Nature Of Operations And Summary Of Significant Accounting Policies | 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Fidelity D & D Bancorp, Inc. and its wholly-owned subsidiary, The Fidelity Deposit and Discount Bank (the Bank) (collectively, the Company). All significant inter-company balances and transactions have been eliminated in consolidation. NATURE OF OPERATIONS The Company provides a full range of banking, trust and financial services to individuals, small businesses and corporate customers. Its primary market areas are Lackawanna and Luzerne Counties, Pennsylvania. The Company's primary deposit products are demand deposits and interest-bearing time and savings accounts. It offers a full array of loan products to meet the needs of retail and commercial customers. The Company is subject to regulation by the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Department of Banking. USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of investment securities, the determination and the amount of impairme nt in the securities portfolios, and the related realization of the deferred tax assets related to the allowance for loan losses, other-than-temporary impairment on and valuations of investment securities. In connection with the determination of the allowance for loan losses, management generally obtains independent appraisals for significant properties. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near-term. However, the amount of the change that is reasonably possible cannot be estimated. The Company’s investment securities are comprised of a variety of financial instruments. The fair values of the securities are subject to various risks including changes in the interest rate environment and general economic conditions including illiquid conditions in the capital markets. Due to the increased level of these risks and their potential impact on the fair values of the securities, it is possible that the amounts reported in the accompanying financial statements could materially change in the near-term. Any credit-related impairment is included as a component of non-interest income in the consolidated income statements while non-credit-related impairment is charged to other comprehensive income, net of tax. SIGNIFICANT GROUP CONCENTRATION OF CREDIT RISK The Company originates commercial, consumer, and mortgage loans to customers primarily located in Lackawanna and Luzerne Counties of Pennsylvania. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on the economic sector in which the Company operates. The loan portfolio does not have any significant concentrations from one industry or customer. HELD-TO-MATURITY SECURITIES Debt securities, for which the Company has the positive intent and ability to hold to maturity, are reported at cost. Premiums and discounts are amortized or accreted, as a component of interest income over the life of the related security as an adjustment to yield using the interest method. The Company did not have any held-to-maturity securities at December 31, 2017 or 2016 . TRADING SECURITIES Debt and equity securities held principally for resale in the near-term, or trading securities, are recorded at their fair values. Unrealized gains and losses are included in other income. The Company did not have investment securities held for trading purposes during 2017 or 2016 . AVAILABLE-FOR-SALE SECURITIES Available-for-sale (AFS) securities consist of debt and equity securities classified as neither held-to-maturity nor trading and are reported at fair value. Premiums and discounts are amortized or accreted as a component of interest income over the life of the related security as an adjustment to yield using the interest method. Unrealized holding gains and losses, including non-credit-related other-than-temporary impairment (OTTI), on AFS securities are reported as a separate component of shareholders’ equity, net of deferred income taxes, until realized. The net unrealized holding gains and losses are a component of accumulated other comprehensive income. Gains and losses from sales of securities AFS are determined using the specific identification method. FEDERAL HOME LOAN BANK STOCK The Company, is a member of the Federal Home Loan Bank system, and as such is required to maintain an investment in capital stock of the Federal Home Loan Bank of Pittsburgh (FHLB). The amount the Company is required to invest is dependent upon the relative size of outstanding borrowings the Company has with the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at cost. LOANS Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at face value, net of unamortized loan fees and costs and the allowance for loan losses. Interest on residential real estate loans is recorded based on principal pay downs on an actual days basis. Commercial loan interest is accrued on the principal balance on an actual days basis. Interest on consumer loans is determined using the simple interest method. Generally, loans are placed on non-accrual status when principal or interest is past due 90 days or more. When a loan is placed on non-accrual status, all interest previously accrued but not collected is charged against current earnings. Any payments received on non-accrual loans are applied, first to the outstanding loan amounts, then to the recovery of any charged-off loan amounts. Any excess is treated as a recovery of lost interest. A modification of a loan constitutes a troubled debt restructuring (TDR) when a borrower is experiencing financial difficulty and the Company grants a concession that it would not otherwise grant based on current underwriting standards. Regardless of the type of concession, when modifying a loan , forgiveness of principal is rarely granted. MORTGAGE BANKING OPERATIONS AND MORTGAGE SERVICING RIGHTS The Company sells one-to-four family residential mortgage loans on a servicing retained basis. On a loan sold where servicing was retained, the Company determines at the time of sale the value of the retained servicing rights, which represents the present value of the differential between the contractual servicing fee and adequate compensation, defined as the fee a sub-servicer would require to assume the role of servicer, after considering the estimated effects of prepayments. If material, a portion of the gain on the sale of the loan is recognized due to the value of the servicing rights, and a mortgage servicing asset is recorded. Commitments to sell one-to-four family residential mortgage loans are made primarily during the period between the intent to proceed and the closing of the mortgage loan. The timing of making these sale commitments is dependent upon the timing of the borrower’s election to lock-in the mortgage interest rate and fees prior to loan closing. Most of these sales commitments are made on a best-efforts basis whereby the Company is only obligated to sell the mortgage if the mortgage loan is approved and closed by the Company. Commitments to fund mortgage loans (rate lock commitments) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in the fair values of these derivatives are included in gains or losses on sales of loans. The fair value of these derivative instruments was not significant at December 31, 201 7 and 201 6 . Servicing assets are reported in other assets and amortized in proportion to and over the period during which estimated servicing income will be received. Servicing loans for others consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors, and processing foreclosures. Loan servicing income is recorded when earned and represents servicing fees from investors and certain charges collected from borrowers, such as late payment fees. The Company has fiduciary responsibility for related escrow and custodial funds. Servicing assets are recognized as separate assets when rights are acquired through the sale of financial assets. For sales of mortgage loans originated by the Company, a portion of the cost of originating the loan is allocated to the servicing retained right based on fair value. Capitalized servicing rights are amortized into interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. Remaining servicing rights are charged against income upon payoff of the loan. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. LOANS HELD-FOR-SALE Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Unrealized gains are recognized but only to the extent of previous write-downs. AUTOMOBILE LEASING Financing of automobiles, provided to customers under lease arrangements of varying terms, are accounted for as direct finance leases. Interest on automobile direct finance leasing is determined using the interest method. Generally, the interest method is used to arrive at a level effective yield over the life of the lease. ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is established through a provision for loan losses. The allowance represents an amount which, in management’s judgment, will be adequate to absorb losses on existing loans that may become uncollectible. Management’s judgment in determining the adequacy of the allowance is based on evaluations of the collectability of the loans. These evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, current economic conditions that may affect the borrower’s ability to pay, collateral value, overall portfolio quality and review of specific loans for impairment. Management applies two primary components during the estimation process to determine proper allowance levels; a specific loan loss allocation for loans that are deemed impaired and a general loan loss allocation for those loans not specifically allocated based on historical charge-off history and qualitative factor adjustments for trends or changes in the loan portfolio. Delinquencies, changes in lending policies and local economic conditions are some of the items used for the qualitative factor adjustments. Loans considered uncollectible are charged against the allowance. Recoveries on loans previously charged off are added to the allowance. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments in accordance with the contractual terms of the loan. Factors considered in determining impairment include payment status, collateral value and the probability of collecting payments when due. The significance of payment delays and/or shortfalls is determined on a case by case basis. All circumstances surrounding the loan are taken into account. Such factors include the length of the delinquency, the underlying reasons and the borrower’s prior payment record. Impairment is measured on these loans on a loan-by-loan basis. Impaired loans include non-accrual loans, TDRs and other loans deemed to be impaired based on the aforementioned factors. The risk characteristics of each of the identified portfolio segments are as follows: Commercial and industrial loans (C&I): C&I l oans are primarily based on the identified historic and/or the projected cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of the borrower, however, do fluctuate based on changes in the Company’s internal and external environment including management, human and capital resources, economic conditions, competition and regulation. Most C&I loans are secured by business assets being financed such as equipment, accounts receivable, and/or inventory and generally incorporate a secured or unsecured personal guarantee. Unsecured loans may be made on a short-term basis. The ability of the borrower to collect amounts due from its customers may be affected by its customers’ economic and financial condition. Commercial real estate loans (CRE) : Commercial real estate loans are made to finance the purchase of real estate, refinance existing obligations and/or to provide capital. These commercial real estate loans are generally secured by first lien security interests in the real estate as well as assignment of leases and rents. The real estate may include apartments, hotels, retail stores or plazas and healthcare facilities whether they are owner or non-owner occupied. These loans are typically originated in amounts of no more than 80% of the appraised value of the property. Consumer loans: The Company offers home equity installment loans and lines of credit. Risks associated with loans secured by residential properties are generally lower than commercial real estate loans and include general economic risks, such as the strength of the job market, employment stability and the strength of the housing market. Since most loans are secured by a primary or secondary residence, the borrower’s continued employment is considered the greatest risk to repayment. The Company also offers a variety of loans to individuals for personal and household purposes. These loans are generally considered to have greater risk than mortgages on real estate because they may be unsecured, or if they are secured, the value of the collateral may be difficult to assess and more likely to decrease in value than real estate. Residential mortgage loans: Residential mortgages are secured by a first lien position of the borrower’s residential real estate. These loans have varying loan rates depending on the financial condition of the borrower and the loan to value ratio. Since most loans are secured by a primary or secondary residence, the borrower’s continued employment is considered the greatest risk to repayment. Residential mortgages have terms up to thirty years with amortizations varying from 10 to 30 years. The majority of the loans are underwritten according to FNMA and/or FHLB standards. TRANSFER OF FINANCIAL ASSETS Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: the assets have been isolated from the Company—put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership; the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets, other than through a cleanup call. LOAN FEES AND COSTS Nonrefundable loan origination fees and certain direct loan origination costs are recognized as a component of interest income over the life of the related loans as an adjustment to yield. The unamortized balance of the deferred fees and costs are included as components of the loan balances to which they relate. BANK PREMISES AND EQUIPMENT Land is carried at cost. Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the improved property. Rent expense is recognized on the straight-line method over the term of the lease. BANK OWNED LIFE INSURANCE The Company maintains bank owned life insurance (BOLI) for a selected group of employees , namely its officers where the Company is the owner and sole beneficiary of the policies. The earnings from the BOLI are recognized as a component of other income in the consolidated statements of income. The BOLI is an asset that can be liquidated, if necessary, with tax consequences. However, the Company intends to hold these policies and, accordingly, the Company has not provided for deferred income taxes on the earnings from the increase in the cash surrender value. EMPLOYEE BENEFITS The Company holds separate supplemental executive retirement (SERP) agreements for certain officers and an amount is credited to each participant’s SERP account monthly while they are actively employed by the bank until retirement. A deferred tax asset is provided for the non-deductible SERP expense. The Company also entered into separate split dollar life insurance arrangements with three executives providing post-retirement benefits and accrues monthly expense for this benefit. Monthly expenses for the SERP and post-retirement split dollar life benefit are recorded as components of salaries and employee benefit expense on the consolidated statements of income. FORECLOSED ASSETS HELD-FOR-SALE Foreclosed assets held-for-sale are carried at the lower of cost or fair value less cost to sell. Foreclosed assets held-for-sale is primarily other real estate owned, but also includes other repossessed assets. Losses from the acquisition of property in full and partial satisfaction of debt are treated as credit losses. Routine holding costs, gains and losses from sales, write-downs for subsequent declines in value and any rental income received are recognized net, as a component of other real estate owned expense in the consolidated statements of income. Gains or losses are recorded when the properties are sold. IMPAIRMENT OF LONG-LIVED ASSETS Long-lived assets, including bank premises and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If impairment is indicated by that review, the asset is written down to its estimated fair value through a charge to non-interest expense. GOODWILL Goodwill is recorded on the consolidated balance sheets as the excess of liabilities assumed over identifiable assets acquired on the acquisition date. Goodwill is recorded at its net carrying value which represents estimated fair value. The goodwill is deductible for tax purposes over a 15 year period. Goodwill is reviewed for impairment annually as of November 30 and between annual tests when events and circumstances indicate that impairment may have occurred. Goodwill impairment exists when the carrying amount of a reporting unit exceeds its fair value. A qualitative test can be performed to determine whether it is more likely than not that the fair value of the Company is less than its carrying amount, including goodwill . In this qualitative assessment, the Company evaluates events and circumstances which include general banking industry conditions and trends, the overall financial performance of the Company, the performance of the Company’s common stock and key financial performance metrics of the Company. If the qualitative review indicates that it is not more likely than not that the carrying value exceeds its fair value, no further evaluation needs to be performed. If the results of the qualitative review indicate it is more likely than not that the fair value is less than the carrying value, then the Company performs a quantitative impairment test. During 2017, the Company determined it is not more likely than not that the carrying value exceeds its carrying value therefore no quantitative analysis was necessary. STOCK PLANS The Company has two stock-based compensation plans. The Company accounts for these plans under the recognition and measurement accounting principles, which requires the cost of share-based payment transactions be recognized in the financial statements. The stock-based compensation accounting guidance requires that compensation cost for stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. Compensation cost is recognized on a straight-line basis over the requisite service period. When granting stock options, the Company uses the Black-Sholes option pricing model to determine their estimated fair value on the date of grant. When granting stock-settled stock appreciation rights (SSARs), the Company uses Black-Scholes-Merton valuation model to determine fair value on the date of grant. TRUST AND FINANCIAL SERVICE FEES Trust and financial service fees are recorded on the cash basis, which is not materially different from the accrual basis. ADVERTISING COSTS Advertising costs are charged to expense as incurred. LEGAL AND PROFESSIONAL EXPENSES Generally, the Company recognizes legal and professional fees as incurred and are included as a component of professional services expense in the consolidated statements of income. Legal costs incurred that are associated with the collection of outstanding amounts due from delinquent borrowers are included as a component of loan collection expense in the consolidated statements of income. In the event of litigation proceedings brought about by an employee or third party against the Company, expenses for damages will be accrued if the likelihood of the outcome against the Company is probable, the amount can be reasonably estimated and the amount would have a material impact on the financial results of the Company. INCOME TAXES Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. The benefit of a tax position is recognized on the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than-not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. For tax positions not meeting the more likely than not threshold, no tax benefit is recorded. Under the more likely than not threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. The Company had no material unrecognized tax benefits or accrued interest and penalties for the years ended December 31, 201 7 , 201 6 or 201 5 , respectively. COMPREHENSIVE INCOME (LOSS) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss). CASH FLOWS For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. Expenditures for construction in process, a component of other assets in the consolidated balance sheets, are included in acquisition of premises and equipment. RECLASSIFICATION ADJUSTMENTS Certain reclassifications have been made to the 201 5 and 201 6 financial statements to conform to the 201 7 presentation with no impact on total equity or net income. |
Cash
Cash | 12 Months Ended |
Dec. 31, 2017 | |
Cash [Abstract] | |
Cash | 2. CASH The Company is required by the Federal Reserve Bank to maintain average reserve balances based on a percentage of deposits. The amounts of those reserve requirements on December 31, 201 7 and 201 6 were $1.4 million and $1.3 million, respectively. Deposits with any one financial institution are insured up to $250,000 . From time-to-time, the Company may maintain cash and cash equivalents with certain other financial institutions in excess of the insured amount. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2017 | |
Accumulated Other Comprehensive Income [Abstract] | |
Accumulated Other Comprehensive Income | 3. A CCUMULATED OTHER COMPREHENSIVE INCOME The following tables illustrate the changes in accumulated other comprehensive income by component and the details about the components of accumulated other comprehensive income as of and for the periods indicated: As of and for the year ended December 31, 2017 Unrealized gains (losses) on available-for-sale (dollars in thousands) securities Total Beginning balance $ 1,381 $ 1,381 Other comprehensive income before reclassifications, net of tax 29 29 Amounts reclassified from accumulated other comprehensive income, net of tax 97 97 Effect of adopting ASU 2018-02* 297 297 Net current-period other comprehensive income 423 423 Ending balance $ 1,804 $ 1,804 *The Company elected to reclassify from accumulated other comprehensive income to retained earnings stranded tax effects resulting from the Tax Cuts and Jobs Act at the end of 2017 according to ASU 2018-02 . These stranded tax effects were related to the adjustment made to retained earnings at the end of 2017 to re-measure the deferred tax liability for unrealized gains on available for sale securities at the new tax rate effective January 1, 2018. As of and for the year ended December 31, 2016 Unrealized gains (losses) on available-for-sale (dollars in thousands) securities Total Beginning balance $ 2,188 $ 2,188 Other comprehensive loss before reclassifications, net of tax (801) (801) Amounts reclassified from accumulated other comprehensive income, net of tax (6) (6) Net current-period other comprehensive loss (807) (807) Ending balance $ 1,381 $ 1,381 As of and for the year ended December 31, 2015 Unrealized gains (losses) on available-for-sale (dollars in thousands) securities Total Beginning balance $ 2,743 $ 2,743 Other comprehensive loss before reclassifications, net of tax (502) (502) Amounts reclassified from accumulated other comprehensive income, net of tax (53) (53) Net current-period other comprehensive loss (555) (555) Ending balance $ 2,188 $ 2,188 Details about accumulated other comprehensive income components Amount reclassified from accumulated Affected line item in the statement (dollars in thousands) other comprehensive income where net income is presented Years ended December 31, 2017 2016 2015 Unrealized (losses) gains on AFS securities $ (147) $ 9 $ 80 (Loss) gain on sale of investment securities Income tax effect 50 (3) (27) Provision for income taxes Total reclassifications for the period $ (97) $ 6 $ 53 Net income |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 2017 | |
Investment Securities [Abstract] | |
Investment Securities | 4. INVESTMENT SECURITIES Agency – Government-sponsored enterprise (GSE) and MBS - GSE residential Agency – GSE and MBS – GSE residential securities consist of short- to long-term notes issued by Federal Home Loan Mortgage Corporation (FHLMC), Federal National Mortgage Association (FNMA), Federal Home Loan Bank (FHLB) and Government National Mortgage Association (GNMA). These securities have interest rates that are fixed and adjustable, have varying short to long-term maturity dates and have contractual cash flows guaranteed by the U.S. government or agencies of the U.S. government. Obligations of states and political subdivisions The municipal securities are bank qualified or bank eligible, general obligation and revenue bonds rated as investment grade by various credit rating agencies and have fixed rates of interest with mid- to long-term maturities. Fair values of these securities are highly driven by interest rates. Management performs ongoing credit quality reviews on these issues. Amortized cost and fair value of investment securities as of the period indicated are as follows: Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value December 31, 2017 Available-for-sale securities: Agency - GSE $ 9,120 $ 3 $ (24) $ 9,099 Obligations of states and political subdivisions 42,300 2,036 (30) 44,306 MBS - GSE residential 103,386 519 (753) 103,152 Total debt securities 154,806 2,558 (807) 156,557 Equity securities - financial services 294 534 - 828 Total available-for-sale securities $ 155,100 $ 3,092 $ (807) $ 157,385 Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value December 31, 2016 Available-for-sale securities: Agency - GSE $ 18,362 $ 58 $ (144) $ 18,276 Obligations of states and political subdivisions 38,648 1,803 (260) 40,191 MBS - GSE residential 70,639 851 (553) 70,937 Total debt securities 127,649 2,712 (957) 129,404 Equity securities - financial services 294 339 - 633 Total available-for-sale securities $ 127,943 $ 3,051 $ (957) $ 130,037 Some of the Company’s debt securities are pledged to secure trust funds, public deposits, repurchase agreements, other short-term borrowings, FHLB advances, Federal Reserve Bank of Philadelphia Discount Window borrowings and certain oth er deposits as required by law. The amortized cost and fair value of debt securities at December 31, 201 7 by contractual maturity are shown below: Amortized Fair (dollars in thousands) cost value Available-for-sale securities: Debt securities: Due in one year or less $ 5,006 $ 4,997 Due after one year through five years 4,943 5,023 Due after five years through ten years 2,549 2,611 Due after ten years 38,922 40,774 MBS - GSE residential 103,386 103,152 Total available-for-sale debt securities $ 154,806 $ 156,557 Actual maturities will differ from contractual maturities because issuers and borrowers may have the right to call or repay obligations with or without call or prepayment penalty. Agency – GSE and municipal securities are included based on their original stated maturity. MBS – GSE residential, which are based on weighted-average lives and subject to monthly principal pay-downs, are listed in total. Most of the securities have fixed rates or have predetermined scheduled rate changes and many have call features that allow the issuer to call the security at par before its stated maturity without penalty. Gross realized gains and losses from sales, determined using specific identification, for the periods indicated were as follows: December 31, (dollars in thousands) 2017 2016 2015 Gross realized gain $ - $ 16 $ 137 Gross realized loss (147) (7) (57) Net gain $ (147) $ 9 $ 80 The following table presents the fair value and gross unrealized losses of investments aggregated by investment type, the length of time and the number of securities that have been in a continuous unrealized loss position as of the period indicated: Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) value losses value losses value losses December 31, 2017 Agency - GSE $ 6,020 $ (14) $ 1,008 $ (10) $ 7,028 $ (24) Obligations of states and political subdivisions 425 (1) 2,109 (29) 2,534 (30) MBS - GSE residential 61,349 (437) 15,309 (316) 76,658 (753) Total $ 67,794 $ (452) $ 18,426 $ (355) $ 86,220 $ (807) Number of securities 45 14 59 December 31, 2016 Agency - GSE $ 6,032 $ (144) $ - $ - $ 6,032 $ (144) Obligations of states and political subdivisions 8,690 (260) - - 8,690 (260) MBS - GSE residential 41,111 (553) - - 41,111 (553) Total $ 55,833 $ (957) $ - $ - $ 55,833 $ (957) Number of securities 48 - 48 The Company had fifty-nine securities in an unrealized loss position at December 31 , 2017, including seven agency securities, forty-seven mortgage-backed securities and five municipal securities. The severity of these unrealized losses based on their underlying cost basis was as follows at December 31 , 2017: 0.34% for agencies; 0.97% for total MBS-GSE; and 1.16% for municipals. Of these securities, one agency security, nine mortgage-backed securities and four municipal securities had been in an unrealized loss position in excess of 12 months. The changes in the prices on these securities are the result of interest rate movement and management believes they are temporary in nature. Management believes the cause of the unrealized losses is related to changes in interest rates, instability in the capital markets or the limited trading activity due to illiquid conditions in the debt market and is not directly related to credit quality. Quarterly, management conducts a formal review of investment securities for the presence of OTTI . The accounting guidance related to OTTI requires the Company to assess whether OTTI is present when the fair value of a debt security is less than its amortized cost as of the balance sheet date. Under those circumstances, OTTI is considered to have occurred if: (1) the entity has intent to sell the security; (2) more likely than not the entity will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of expected cash flows is not sufficient to recover the entire amortized cost. The accounting guidance requires that credit-related OTTI be recognized in earnings while non-credit-related OTTI on securities not expected to be sold be recognized in other comprehensive income (OCI). Non-credit-related OTTI is based on other factors affecting market value, including illiquidity. The Company’s OTTI evaluation process also follows the guidance set forth in topics related to debt and equity securities. The guidance set forth in the pronouncements require the Company to take into consideration current market conditions, fair value in relationship to cost, extent and nature of changes in fair value, issuer rating changes and trends, volatility of earnings, current analysts’ evaluations, all available information relevant to the collectability of debt securities, the ability and intent to hold investments until a recovery of fair value which may be to maturity and other factors when evaluating for the existence of OTTI. The guidance requires that credit-related OTTI be recognized as a realized loss through earnings when there has been an adverse change in the holder’s expected cash flows such that the full amount (principal and interest) will probably not be received. This requirement is consistent with the impairment model in the guidance for accounting for debt and equity securities. For all security types, as of December 31 , 2017, the Company applied the criteria provided in the recognition and presentation guidance related to OTTI. That is, management has no intent to sell the securities and no conditions were identified by management that more likely than not would require the Company to sell the securities before recovery of their amortized cost basis. The results indicated there was no presence of OTTI in the Company’s security portfolio. In addition, management believes the change in fair value is attributable to changes in interest rates . |
Loans And Leases
Loans And Leases | 12 Months Ended |
Dec. 31, 2017 | |
Loans And Leases [Abstract] | |
Loans And Leases | 5. LOANS AND LEASES The classifications of loans and leases at December 31, 201 7 and 201 6 are summarized as follows: (dollars in thousands) 2017 2016 Commercial and industrial $ 113,601 $ 98,477 Commercial real estate: Non-owner occupied 92,851 87,220 Owner occupied 109,383 113,104 Construction 6,228 3,987 Consumer: Home equity installment 27,317 28,466 Home equity line of credit 53,273 51,609 Auto loans and leases 83,510 56,841 Other 5,604 13,301 Residential: Real estate 136,901 134,475 Construction 9,931 10,496 Total 638,599 597,976 Less: Allowance for loan losses (9,193) (9,364) Unearned lease revenue (639) (482) Loans and leases, net $ 628,767 $ 588,130 Net deferred loan costs of $2.1 million and $1.8 million have been included in the carrying values of loans at December 31, 2017 and 2016, respectively. Unearned lease revenue represents the difference between the lessor’s investment in the property and the gross investment in the lease. Unearned revenue is accrued over the life of the lease using the effective interest method. The residual value of leases is fully guaranteed by the dealership. Residual values, a component of other assets on the balance sheet, amounted to $9.4 million and $7.4 million at December 31, 2017 and 2016, respectively. The Company services real estate loans for investors in the secondary mortgage market which are not included in the accompanying consolidated balance sheets. The approximate unpaid principal balance of mortg ages serviced amounted to $299.3 million as of December 31 , 2017 and $285.2 million as of December 31, 2016. Mortgage servicing rights amounted to $1.3 million both as of December 31, 2017 and 2016, respectively. Management is responsible for conducting the Company’s credit risk evaluation process, which includes credit risk grading of individual commercial and industrial and commercial real estate loans. Commercial and industrial and commercial real estate loans are assigned credit risk grades based on the Company’s assessment of conditions that affect the borrower’s ability to meet its contractual obligations under the loan agreement. That process includes reviewing borrowers’ current financial information, historical payment experience, credit documentation, public information and other information specific to each individual borrower. Upon review, the commercial loan credit risk grade is revised or reaffirmed as the case may be. The credit risk grades may be changed at any time management feels an upgrade or downgrade may be warranted. The Company utilizes an external independent loan review firm that reviews and validates the credit risk program on at least an annual basis. Results of these reviews are presented to management and the board of directors. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. Non-accrual loans The decision to place loans on non-accrual status is made on an individual basis after considering factors pertaining to each specific loan. C&I and CRE loans are placed on non-accrual status when management has determined that payment of all contractual principal and interest is in doubt or the loan is past due 90 days or more as to principal and interest, unless well-secured and in the process of collection. Consumer loans secured by real estate and residential mortgage loans are placed on non-accrual status at 120 days past due as to principal and interest and unsecured consumer loans are charged-off when the loan is 90 days or more past due as to principal and interest. The Company considers all non-accrual loans to be impaired loans. Non-accrual loans, segregated by class, at December 31, were as follows: (dollars in thousands) 2017 2016 Commercial and industrial $ 36 $ 11 Commercial real estate: Non-owner occupied 649 1,407 Owner occupied 942 3,078 Construction 161 193 Consumer: Home equity installment 15 31 Home equity line of credit 559 737 Auto loans and leases 5 25 Other - 6 Residential: Real estate 1,074 1,882 Total $ 3,441 $ 7,370 Troubled Debt Restructuring A modification of a loan constitutes a TDR when a borrower is experiencing financial difficulty and the modification constitutes a concession. The Company considers all TDRs to be impaired loans. The Company offers various types of concessions when modifying a loan, however, forgiveness of principal is rarely granted. C&I loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral, a co-borrower, or a guarantor is often requested. CRE loans modified in a TDR can involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, or substituting or adding a new borrower or guarantor. Commercial real estate construction loans modified in a TDR may also involve extending the interest-only payment period. Residential mortgage loans modified in a TDR are primarily comprised of loans where monthly payments are lowered to accommodate the borrowers’ financial needs for an extended period of time. After the lowered monthly payment period ends, the borrower would revert back to paying principal and interest pursuant to the original terms with the maturity date adjusted accordingly. Consumer loan modifications are typically not granted and therefore standard modification terms do not exist for loans of this type. Of the TDRs outstanding as of December 31, 2017 and 2016, when modified, the concessions granted consisted of temporary interest-only payments, extensions of maturity date, or a reduction in the rate of interest to a below-market rate for a contractual period of time. Other than the TDRs that were placed on non-accrual status, the TDRs were performing in accordance with their modified terms. The following presents by class, information related to loans modified in a TDR: Loans modified as TDRs for the twelve months ended: (dollars in thousands) December 31, 2017 December 31, 2016 Recorded Increase in Recorded Increase in Number investment allowance Number investment allowance of (as of (as of of (as of (as of contracts period end) period end) contracts period end) period end) Commercial real estate - non-owner occupied 1 $ 118 $ 7 - $ - $ - Commercial real estate - owner occupied 5 924 332 - - - Consumer home equity line of credit - - - 1 650 167 Residential real estate - - - 1 881 177 Total 6 $ 1,042 $ 339 2 $ 1,531 $ 344 In the above table, the period end balance is inclusive of all partial pay downs and charge-offs since the modification date. For all loans modified in a TDR, the pre-modification recorded investment was the same as the post-modification recorded investment. The following presents by class, loans modified as a TDR that subsequently defaulted (i.e. 90 days or more past due following a modification) during the periods indicated: Loans modified as a TDR within the previous twelve months that subsequently defaulted during the twelve months ended: (dollars in thousands) December 31, 2017 December 31, 2016 Number of Recorded Number of Recorded contracts investment contracts investment Consumer home equity line of credit - $ - 1 $ 650 In the above table, the period end balances are inclusive of all partial pay downs and charge-offs since the modification date. Loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the Company evaluates the loan for possible further impairment. The allowance for loan losses (allowance) may be increased, adjustments may be made in the allocation of the allowance or partial charge-offs may be taken to further write-down the carrying value of the loan. An allowance for impaired loans that have been modified in a TDR is measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the loan’s observable market price. If the loan is collateral dependent, the estimated fair value of the collateral is used to establish t he allowance. As of December 31 , 2017 and 2016, respectively, the allowance for impaired loans that have been modified in a TDR was $0.4 million and $0.7 million, respectively. Past due loans Loans are considered past due when the contractual principal and/or interest is not received by the due date. An aging analysis of past due loans, segregated by class of loans, as of the period indicated is as follows (dollars in thousands): Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days December 31, 2017 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial $ 286 $ - $ 36 $ 322 $ 113,279 $ 113,601 $ - Commercial real estate: Non-owner occupied 51 1,018 649 1,718 91,133 92,851 - Owner occupied 52 85 942 1,079 108,304 109,383 - Construction - - 161 161 6,067 6,228 - Consumer: Home equity installment 130 30 15 175 27,142 27,317 - Home equity line of credit 276 - 559 835 52,438 53,273 - Auto loans and leases 449 85 11 545 82,326 82,871 (2) 6 Other 42 - - 42 5,562 5,604 - Residential: Real estate 38 351 1,074 1,463 135,438 136,901 - Construction - - - - 9,931 9,931 - Total $ 1,324 $ 1,569 $ 3,447 $ 6,340 $ 631,620 $ 637,960 $ 6 (1) Includes $ 3 .4 million of non-accrual loans. (2) Net of unearned lease revenue of $0. 6 million. (3) Includes net deferred loan costs of $2.1 million . Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days December 31, 2016 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial $ 208 $ - $ 11 $ 219 $ 98,258 $ 98,477 $ - Commercial real estate: Non-owner occupied 180 - 1,407 1,587 85,633 87,220 - Owner occupied 13 776 3,078 3,867 109,237 113,104 - Construction - - 193 193 3,794 3,987 - Consumer: Home equity installment 213 25 31 269 28,197 28,466 - Home equity line of credit - - 737 737 50,872 51,609 - Auto loans and leases 293 59 44 396 55,963 56,359 (2) 19 Other 37 2 6 45 13,256 13,301 - Residential: Real estate 14 421 1,882 2,317 132,158 134,475 - Construction - - - - 10,496 10,496 - Total $ 958 $ 1,283 $ 7,389 $ 9,630 $ 587,864 $ 597,494 $ 19 (1) Includes $ 7.4 million of non-accrual loans. (2) Net of unearned lease revenue of $0. 5 million. (3) Includes net deferred loan costs of $1. 8 million. Impaired loans A loan is considered impaired when, based on current information and events; it is probable that the Company will be unable to collect the scheduled payments in accordance with the contractual terms of the loan. Factors considered in determining impairment include payment status, collateral value and the probability of collecting payments when due. The significance of payment delays and/or shortfalls is determined on a case-by-case basis. All circumstances surrounding the loan are taken into account. Such factors include the length of the delinquency, the underlying reasons and the borrower’s prior payment record. Impairment is measured on these loans on a loan-by-loan basis. Impaired loans include non-accrual loans, TDRs and other loans deemed to be impaired based on the aforementioned factors. At December 31, 2017, impaired loans consisted of accruing TDRs of $1.9 million, $3.4 million in non-accrual loans and $1.6 million in accruing impaired loans. At December 31, 2016, impaired loans consisted of accruing TDRs of $1.8 million, $7.4 million in non-accrual loans and $2.2 million in accruing impaired loans. As of December 31, 2017, the non-accrual loans included three TDRs to three unrelated borrowers totaling $1.6 million compared with two TDRs totaling $1.5 million as of December 31, 2016. Impaired loans, segregated by class, as of the period indicated are detailed below: Recorded Recorded Unpaid investment investment Total principal with with no recorded Related (dollars in thousands) balance allowance allowance investment allowance December 31, 2017 Commercial and industrial $ 281 $ 225 $ 24 $ 249 $ 196 Commercial real estate: Non-owner occupied 2,426 1,975 363 2,338 488 Owner occupied 2,742 1,768 725 2,493 433 Construction 384 - 161 161 - Consumer: Home equity installment 48 - 15 15 - Home equity line of credit 878 32 527 559 25 Auto loans and leases 13 - 5 5 - Other - - - - - Residential: Real estate 1,350 131 943 1,074 37 Construction - - - - - Total $ 8,122 $ 4,131 $ 2,763 $ 6,894 $ 1,179 Recorded Recorded Unpaid investment investment Total principal with with no recorded Related (dollars in thousands) balance allowance allowance investment allowance December 31, 2016 Commercial and industrial $ 235 $ 206 $ 29 $ 235 $ 193 Commercial real estate: Non-owner occupied 3,346 2,611 405 3,016 993 Owner occupied 5,363 4,351 876 5,227 1,389 Construction 416 - 193 193 - Consumer: Home equity installment 64 - 31 31 - Home equity line of credit 778 650 87 737 167 Auto 25 25 - 25 3 Other 6 6 - 6 1 Residential: Real estate 1,949 1,466 416 1,882 315 Construction - - - - - Total $ 12,182 $ 9,315 $ 2,037 $ 11,352 $ 3,061 The following table presents the average recorded investments in impaired loans and related amount of interest income recognized during the periods indicated below. The average balances are calculated based on the quarter-end balances of impaired loans. Payments received from non-accruing impaired loans are first applied against the outstanding principal balance, then to the recovery of any charged-off amounts. Any excess is treated as a recovery of interest income. Payments received from accruing impaired loans are applied to principal and interest, as contractually agreed upon. December 31, 2017 December 31, 2016 Cash basis Cash basis Average Interest interest Average Interest interest recorded income income recorded income income (dollars in thousands) investment recognized recognized investment recognized recognized Commercial and industrial $ 231 $ 10 $ - $ 434 $ 51 $ - Commercial real estate: Non-owner occupied 2,907 140 - 4,230 176 - Owner occupied 3,832 245 - 3,088 129 - Construction 176 - - 209 - - Consumer: Home equity installment 15 - - 78 3 - Home equity line of credit 682 5 - 816 28 - Auto 15 4 - 30 - - Other 2 1 - 6 - - Residential: Real estate 1,473 77 - 628 15 - Construction - - - - - - Total $ 9,333 $ 482 $ - $ 9,519 $ 402 $ - The average recorded investment for the year ended December 31, 201 5 was $7.6 million. There was also interest income recognized of $198 thousand and cash basis interest income recognized of $1 thousand . Credit Quality Indicators Commercial and industrial and commercial real estate The Company utilizes a loan grading system and assigns a credit risk grade to its loans in the C&I and CRE portfolios. The grading system provides a means to measure portfolio quality and aids in the monitoring of the credit quality of the overall loan portfolio. The credit risk grades are arrived at using a risk rating matrix to assign a grade to each of the loans in the C&I and CRE portfolios. The following is a description of each risk rating category the Company uses to classify each of its C&I and CRE loans: Pass Loans in this category have an acceptable level of risk and are graded in a range of one to five. Secured loans generally have good collateral coverage. Current financial statements reflect acceptable balance sheet ratios, sales and earnings trends. Management is considered to be competent, and a reasonable succession plan is evident. Payment experience on the loans has been good with minor or no delinquency experience. Loans with a grade of one are of the highest quality in the range. Those graded five are of marginally acceptable quality. Special Mention Loans in this category are graded a six and may be protected but are potentially weak. They constitute a credit risk to the Company, but have not yet reached the point of adverse classification. Some of the following conditions may exist: little or no collateral coverage; lack of current financial information; delinquency problems; highly leveraged; available financial information reflects poor balance sheet ratios and profit and loss statements reflect uncertain trends; and document exceptions. Cash flow may not be sufficient to support total debt service requirements. Substandard Loans in this category are graded a seven and have a well-defined weakness which may jeopardize the ultimate collectability of the debt. The collateral pledged may be lacking in quality or quantity. Financial statements may indicate insufficient cash flow to service the debt; and/or do not reflect a sound net worth. The payment history indicates chronic delinquency problems. Management is considered to be weak. There is a distinct possibility that the Company may sustain a loss. All loans on non-accrual are rated substandard. Other loans that are included in the substandard category can be accruing, as well as loans that are current or past due. Loans 90 days or more past due, unless otherwise fully supported, are classified substandard. Also, borrowers that are bankrupt or have loans categorized as TDRs can be graded substandard. Doubtful Loans in this category are graded an eight and have a better than 50% possibility of the Company sustaining a loss, but the loss cannot be determined because of specific reasonable factors which may strengthen credit in the near-term. Many of the weaknesses present in a substandard loan exist. Liquidation of collateral, if any, is likely. Any loan graded lower than an eight is considered to be uncollectible and charged-off. Consumer and residential The consumer and residential loan segments are regarded as homogeneous loan pools and as such are not risk rated. For these portfolios, the Company utilizes payment activity, history and recency of payment in assessing performance. Non-performing loans are considered to be loans past due 90 days or more and accruing and non-accrual loans. All loans not classified as non-performing are considered performing. The following table presents loans including $2.1 million and $1.8 million of deferred costs, segregated by class, categorized into the appropriate credit quality indicator category as of December 31, 2017 and 2016, respectively: Commercial credit exposure Credit risk profile by creditworthiness category December 31, 2017 (dollars in thousands) Pass Special mention Substandard Doubtful Total Commercial and industrial $ 112,398 $ 509 $ 694 $ - $ 113,601 Commercial real estate - non-owner occupied 84,892 998 6,961 - 92,851 Commercial real estate - owner occupied 103,426 2,479 3,478 - 109,383 Commercial real estate - construction 6,067 - 161 - 6,228 Total commercial $ 306,783 $ 3,986 $ 11,294 $ - $ 322,063 Consumer & Mortgage lending credit exposure Credit risk profile based on payment activity December 31, 2017 (dollars in thousands) Performing Non-performing Total Consumer Home equity installment $ 27,302 $ 15 $ 27,317 Home equity line of credit 52,714 559 53,273 Auto loans and leases (1) 82,860 11 82,871 Other 5,604 - 5,604 Total consumer $ 168,480 $ 585 $ 169,065 Residential Real estate $ 135,827 $ 1,074 $ 136,901 Construction 9,931 - 9,931 Total residential $ 145,758 $ 1,074 $ 146,832 Total consumer & residential $ 314,238 $ 1,659 $ 315,897 (1) Net of unearned lease revenue of $0. 6 million. Commercial credit exposure Credit risk profile by creditworthiness category December 31, 2016 (dollars in thousands) Pass Special mention Substandard Doubtful Total Commercial and industrial $ 97,308 $ 479 $ 690 $ - $ 98,477 Commercial real estate - non-owner occupied 83,962 1,811 7,591 - 93,364 Commercial real estate - owner occupied 99,981 1,075 5,904 - 106,960 Commercial real estate - construction 3,794 - 193 - 3,987 Total commercial $ 285,045 $ 3,365 $ 14,378 $ - $ 302,788 Consumer & Mortgage lending credit exposure Credit risk profile based on payment activity December 31, 2016 (dollars in thousands) Performing Non-performing Total Consumer Home equity installment $ 28,435 $ 31 $ 28,466 Home equity line of credit 50,872 737 51,609 Auto loans and leases (2) 56,315 44 56,359 Other 13,295 6 13,301 Total consumer $ 148,917 $ 818 $ 149,735 Residential Real estate $ 132,593 $ 1,882 $ 134,475 Construction 10,496 - 10,496 Total residential $ 143,089 $ 1,882 $ 144,971 Total consumer & residential $ 292,006 $ 2,700 $ 294,706 (2) Net of unearned lease revenue of $0. 5 million. Allowance for loan losses Management continually evaluates the credit quality of the Company’s loan portfolio and performs a formal review of the adequacy of the allowance on a quarterly basis. The allowance reflects management’s best estimate of the amount of credit losses in the loan portfolio. Management’s judgment is based on the evaluation of individual loans, past experience, the assessment of current economic conditions and other relevant factors including the amounts and timing of cash flows expected to be received on impaired loans. Those estimates may be susceptible to significant change. Loan losses are charged directly against the allowance when loans are deemed to be uncollectible. Recoveries from previously charged-off loans are added to the allowance when received. Management applies two primary components during the loan review process to determine proper allowance levels. The two components are a specific loan loss allocation for loans that are deemed impaired and a general loan loss allocation for those loans not specifically allocated. The methodology to analyze the adequacy of the allowance for loan losses is as follows: § identification of specific impaired loans by loan category; § identification of specific loans that are not impaired, but have an identified potential for loss; § calculation of specific allowances where required for the impaired loans based on collateral and other objective and quantifiable evidence; § determination of loans with similar credit characteristics within each class of the loan portfolio segment and eliminating the impaired loans; § application of historical loss percentages (trailing twelve-quarter average) to pools to determine the allowance allocation; § application of qualitative factor adjustment percentages to historical losses for trends or changes in the loan portfolio. § Qualitative factor adjustments include: o levels of and trends in delinquencies and non-accrual loans; o levels of and trends in charge-offs and recoveries; o trends in volume and terms of loans; o changes in risk selection and underwriting standards; o changes in lending policies and legal and regulatory requirements; o experience, ability and depth of lending management; o national and local economic trends and conditions; and o changes in credit concentrations. Allocation of the allowance for different categories of loans is based on the methodology as explained above. A key element of the methodology to determine the allowance is the Company’s credit risk evaluation process, which includes credit risk grading of individual C&I and CRE loans. C&I and CRE loans are assigned credit risk grades based on the Company’s assessment of conditions that affect the borrower’s ability to meet its contractual obligations under the loan agreement. That process includes reviewing borrowers’ current financial information, historical payment experience, credit documentation, public information and other information specific to each individual borrower. Upon review, the commercial loan credit risk grade is revised or reaffirmed as the case may be. The credit risk grades may be changed at any time management feels an upgrade or downgrade may be warranted. The credit risk grades for the C&I and CRE loan portfolios are taken into account in the reserve methodology and loss factors are applied based upon the credit risk grades. The loss factors applied are based upon the Company’s historical experience as well as what we believe to be best practices and common industry standards. Historical experience reveals there is a direct correlation between the credit risk grades and loan charge-offs. The changes in allocations in the C&I and CRE loan portfolio from period to period are based upon the credit risk grading system and from periodic reviews of the loan portfolio. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies. Each quarter, management performs an assessment of the allowance. The Company’s Special Assets Committee meets monthly and the applicable lenders discuss each relationship under review and reach a consensus on the appropriate estimated loss amount, if applicable, based on current accounting guidance. The Special Assets Committee’s focus is on ensuring the pertinent facts are considered regarding not only loans considered for specific reserves, but also the collectability of loans that may be past due in payment. The assessment process also includes the review of all loans on a non-accruing basis as well as a review of certain loans to which the lenders or the Company’s Credit Administration function have assigned a criticized or classified risk rating. The Company’s policy is to charge-off unsecured consumer loans when they become 90 days or more past due as to principal and interest. In the other portfolio segments, amounts are charged-off at the point in time when the Company deems the balance, or a portion thereof, to be uncollectible. Information related to the change in the allowance for loan losses and the Company’s recorded investment in loans by portfolio segment as of the period indicated is as follows: As of and for the year ended December 31, 2017 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 1,075 $ 4,706 $ 1,834 $ 1,622 $ 127 $ 9,364 Charge-offs (143) (635) (658) (309) - (1,745) Recoveries 10 47 67 - - 124 Provision 432 (58) 820 295 (39) 1,450 Ending balance $ 1,374 $ 4,060 $ 2,063 $ 1,608 $ 88 $ 9,193 Ending balance: individually evaluated for impairment $ 196 $ 921 $ 25 $ 37 $ - $ 1,179 Ending balance: collectively evaluated for impairment $ 1,178 $ 3,139 $ 2,038 $ 1,571 $ 88 $ 8,014 Loans Receivables: Ending balance (2) $ 113,601 $ 208,462 $ 169,065 (1) $ 146,832 $ - $ 637,960 Ending balance: individually evaluated for impairment $ 249 $ 4,992 $ 579 $ 1,074 $ - $ 6,894 Ending balance: collectively evaluated for impairment $ 113,352 $ 203,470 $ 168,486 $ 145,758 $ - $ 631,066 (1) Net of unearned lease revenue of $0.6 million. (2) Includes $2.1 million of net deferred loan costs. As of and for the year ended December 31, 2016 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 1,336 $ 5,014 $ 1,533 $ 1,407 $ 237 $ 9,527 Charge-offs (224) (592) (504) (60) - (1,380) Recoveries 55 37 100 - - 192 Provision (92) 247 705 275 (110) 1,025 Ending balance $ 1,075 $ 4,706 $ 1,834 $ 1,622 $ 127 $ 9,364 Ending balance: individually evaluated for impairment $ 193 $ 2,382 $ 171 $ 315 $ - $ 3,061 Ending balance: collectively evaluated for impairment $ 882 $ 2,324 $ 1,663 $ 1,307 $ 127 $ 6,303 Loans Receivables: Ending balance (2) $ 98,477 $ 204,311 $ 149,735 (1) $ 144,971 $ - $ 597,494 Ending balance: individually evaluated for impairment $ 235 $ 8,436 $ 799 $ 1,882 $ - $ 11,352 Ending balance: collectively evaluated for impairment $ 98,242 $ 195,875 $ 148,936 $ 143,089 $ - $ 586,142 (1) Net of unearned lease revenue of $0.5 million. (2) Includes $1.8 million of net deferred loan costs. As of and for the year ended December 31, 2015 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 1,052 $ 4,672 $ 1,519 $ 1,316 $ 614 $ 9,173 Charge-offs (25) (432) (437) (15) - (909) Recoveries 47 18 95 28 - 188 Provision 262 756 356 78 (377) 1,075 Ending balance $ 1,336 $ 5,014 $ 1,533 $ 1,407 $ 237 $ 9,527 |
Bank Premises And Equipment
Bank Premises And Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Bank Premises And Equipment [Abstract] | |
Bank Premises And Equipment | 6. BANK PREMISES AND EQUIPMENT Components of bank premises and equipment are summarized as follows: As of December 31, (dollars in thousands) 2017 2016 Land $ 2,865 $ 2,865 Bank premises 13,981 13,703 Furniture, fixtures and equipment 10,413 10,257 Leasehold improvements 5,187 5,996 Total 32,446 32,821 Less accumulated depreciation and amortization (15,870) (15,657) Bank premises and equipment, net $ 16,576 $ 17,164 Depreciation expense, which includes amortization of leasehold improvements, was $1.3 million, $1.4 million and $1.3 million for the years ended December 31, 201 7 , 201 6 and 201 5 . The estimated useful life was 40 years for bank premises, 3 to 7 years for furniture and fixtures and for leasehold improvements was the term of the lease. In 201 7 , the Compa ny leased its Green Ridge, Pittston, Peckville, and Clarks Summit branches under the terms of operating leases. During the first quarter of 2017, the Company assumed the trust accounts of Gratz Bank and in conjunction took over the lease of their trust department office in Minersville, PA. During the third quarter of 2016, the Company entered into a lease agreement for a new branch in Dallas and lease payments will begin when the branch opens for business, which is expected to occur during the third quarter of 2018. Rental expense was $0.4 million, $0.3 million and $0.3 million in 2017, 201 6 and 201 5 . The future minimum lease payments for the Company’s branch network and trust office as of December 31, 201 7 are as follows: (dollars in thousands) Amount 2018 $ 261 2019 293 2020 291 2021 296 2022 300 2023 and thereafter 5,881 Total $ 7,322 The Eynon branch closed during the first quarter of 2016 and the Company agreed to pay off the lease early during the fourth quarter of 2017. During the first quarter of 2014, the Company received through foreclosure the deed that secured the collateral for a non-owner occupied commercial real estate loan that was on non-accrual status. The loan, in the amount $1.0 million, was transferred from loans to foreclosed assets held-for-sale and then to bank premises. Currently the building has a tenant under a lease agreement expiring in 2021 , but the Company expects to use the property for future facility expansion. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Deposits [Abstract] | |
Deposits | 7. DEPOSITS The scheduled maturities of certificates of deposit including certificates reciprocated in the Certificate of Deposit Account Registry Service (CDARS) program as of December 31, 201 7 were as follows: (dollars in thousands) Amount Percent 2018 $ 54,189 50.6 % 2019 31,449 29.4 2020 15,011 14.0 2021 3,135 2.9 2022 2,892 2.7 2023 and thereafter 390 0.4 Total $ 107,066 100.0 % Including $1.1 million and $1.1 million of CDARS deposits, certificates of deposit of $100,000 or more aggregated $58.1 million and $47.4 million as of December 31, 201 7 and 201 6 , respectively. Including CDARS, certificates of deposit of $250,000 or more aggregated $30.9 million and $25.7 million at December 31, 201 7 and 201 6 , respectively. As of December 31, 201 7 , investment securities with a combined fair value of $156.6 million and letters of credit with a notional value of $0.3 million were available to be pledged as qualifying collateral to secure public deposits and trust funds. The Company required $121.1 million of the qualifying collateral to secure such deposits as of December 31, 201 7 and the balance of $35.7 million was available for other pledging needs. |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Short-Term Borrowings [Abstract] | |
Short-Term Borrowings | 8. SHORT-TERM BORROWINGS The components of short-term borrowings are summarized as follows: As of December 31, (dollars in thousands) 2017 2016 Overnight borrowings $ 7,455 $ - Securities sold under repurchase agreements 11,047 4,223 Total $ 18,502 $ 4,223 The maximum and average amounts of short-term borrowings outstanding and related interest rates as of the periods indicated are as follows: Maximum Weighted- outstanding average at any Average rate during Rate at (dollars in thousands) month end outstanding the year year-end December 31, 2017 Overnight borrowings $ 46,737 $ 18,399 1.09 % 1.56 % Repurchase agreements 17,179 10,274 0.20 0.18 Total $ 63,916 $ 28,673 December 31, 2016 Overnight borrowings $ 17,862 $ 2,805 0.65 % - % Repurchase agreements 18,765 10,239 0.19 0.13 Total $ 36,627 $ 13,044 December 31, 2015 Overnight borrowings $ 27,236 $ 4,823 0.39 % 0.48 % Repurchase agreements 20,684 10,268 0.17 0.15 Total $ 47,920 $ 15,091 Overnight borrowings may include Fed funds purchased from correspondent banks, open repurchase agreements with the FHLB and borrowings at the Discount Window from the Federal Reserve Bank of Philadelphia (FRB). Securities sold under agreements to repurchase, or repurchase agreements, are non-insured interest-bearing liabilities that have a perfected security interest in qualified investment securities of the Company. Repurchase agreements are reflected at the amount of cash received in connection with the transaction. The carrying value of the underlying qualified investment securities was approximately $12.2 million and $10.1 million at December 31, 201 7 and 201 6 , respectively. The Company may be required to provide additional collateral based on the balance of the repurchase agreement and the fair value of the underlying securities. At December 31, 201 7 , the Company had approximately $206.9 million available to borrow from the FHLB, $21.0 million from correspondent banks and approximately $66.9 million that it could borrow at the FRB. |
FHLB Advances
FHLB Advances | 12 Months Ended |
Dec. 31, 2017 | |
FHLB Advances [Abstract] | |
FHLB Advances | 9. FHLB ADVANCES During the first quarter of 2017, the Company utilized $17.0 million in borrowings with the FHLB to purchase securities expected to produce a suitable after-tax return. During the second quarter of 2017, the Company borrowed another $6.7 million from the FHLB to fund loan growth and replace seasonal deposits. During the third quarter of 2017, $2.0 million matured and was rolled into a new $2.0 million advance from the FHLB. During the fourth quarter of 2017, a $2.5 million FHLB advance matured and was paid off. The maturity and weighted-average interest rate of FHLB advances as of the periods indicated is as follows: As of December 31, 2017 2016 (dollars in thousands) Amount Rate Amount Rate 2018 $ 4,500 1.19 % $ - - % 2019 16,704 1.38 - - Total $ 21,204 1.34 % $ - - % |
Stock Plans
Stock Plans | 12 Months Ended |
Dec. 31, 2017 | |
Stock Plans [Abstract] | |
Stock Plans | 10. STOCK PLANS The Company has two stock-based compensation plans (the stock compensation plans) from which it can grant stock-based compensation awards, and applies the fair value method of accounting for stock-based compensation provided under current accounting guidance. The guidelines require the cost of share-based payment transactions (including those with employees and non-employees) be recognized in the financial statements. The Company’s stock compensation plans were shareholder-approved and permit the grant of share-based compensation awards to its employees and directors. The Company believes that the stock-based compensation plans will advance the development, growth and financial condition of the Company by providing incentives through participation in the appreciation in the value of the Company’s common stock. In return, the Company hopes to secure, retain and motivate the employees and directors who are responsible for the operation and the management of the affairs of the Company by aligning the interest of its employees and directors with the interest of its shareholders. In the stock compensation plans, employees and directors are eligible to be awarded stock-based compensation grants which can consist of stock options (qualified and non-qualified), stock appreciation rights (SARs) and restricted stock. At the 2012 annual shareholders’ meeting, the Company’s shareholders approved and the Company adopted the 2012 Omnibus Stock Incentive Plan and the 2012 Director Stock Incentive Plan (collectively, the 2012 stock incentive plans). The 2012 stock incentive plans replaced both the expired 2000 Independent Directors Stock Option Plan and the 2000 Stock Incentive Plan (collectively, the 2000 stock incentive plans). Unless terminated by the Company’s board of directors, the 2012 stock incentive plans will expire on and no stock-based awards shall be granted after the year 2022 . In each of the 2012 stock incentive plans, the Company has reserved 750,000 shares of its no-par common stock for future issuance. The Company recognizes share-based compensation expense over the requisite service or vesting period. During 2015, the Company created a Long-Term Incentive Plan (LTIP) that awards restricted stock and stock-settled stock appreciation rights (SSARs) to senior officers based on the attainment of performance goals. The service requirement is the participant’s continued employment throughout the LTIP with a three -year vesting period. The restricted stock has a two -year post vesting holding period requirement. The SSAR awards have a ten year term from the date of each grant. The Company granted restricted stock and SSARs in February 2016 based on 2015 performance and in February 2017 based on 2016 performance. The following table summarizes the weighted-average fair value and vesting of restricted stock grants awarded during 201 7, 201 6 and 201 5 under the 2012 stock incentive plans: 2017 2016 2015 Weighted- Weighted- Weighted- average average average Shares grant date Shares grant date Shares grant date granted fair value granted fair value granted fair value Director plan 8,400 (2) $ 26.17 8,400 (1) $ 21.60 4,800 (1) $ 21.50 Omnibus plan 4,749 (3) 23.93 4,734 (3) 19.48 4,950 (4) 21.50 Omnibus plan 75 (1) 26.17 75 (1) 21.00 75 (1) 21.67 Omnibus plan - - - - 2,100 (4) 22.83 Total 13,224 $ 25.36 13,209 $ 20.84 11,925 $ 21.73 ( 1 ) Vest after 1 year ( 2 ) Vest after 2 years – 50 % each year (3) Vest after 3 years – 33% each year ( 4 ) Vest after 4 years – 25% each year The fair value of the 4,749 shares granted on February 7, 2017 was calculated using the grant date stock price with a discount valuation. The Chaffe model was used to calculate the discount. Since the shares vest over three years and then have a further two -year holding period, the historical volatility of the five years prior to the issue date was used to estimate volatility. The five year treasury yield was used as the interest rate. The Company does pay a dividend, but since the shareholder will receive the dividends during vesting and the post-vest restriction period, no dividend yield was used in the calculation as not to inflate the discount. The grant date stock price was $26.17 and the discount of 8.548% was calculated using an interest rate of 1.841% and a 5 year historical volatility of 18.556% . A summary of the status of the Company’s non-vested restricted stock as of and changes during the period indicated are presented in the following table: 2012 Stock incentive plans Director Omnibus Total Weighted- average grant date fair value Non-vested balance at December 31, 2014 9,000 8,805 17,805 $ 15.47 Granted 4,800 7,125 11,925 21.73 Vested (9,000) (2,668) (11,668) 15.39 Non-vested balance at December 31, 2015 4,800 13,262 18,062 $ 19.67 Granted 8,400 4,809 13,209 20.84 Vested (4,800) (4,509) (9,309) 19.79 Non-vested balance at December 31, 2016 8,400 13,562 21,962 $ 20.31 Granted 8,400 4,824 13,224 25.36 Vested (8,400) (6,082) (14,482) 20.47 Non-vested balance at December 31, 2017 8,400 12,304 20,704 $ 23.59 The Company granted 24,346 SSARs under the Omnibus Plan on February 7, 2017. The Company estimated the fair value of SSARs using the Black-Scholes-Merton valuation model on the grant date. The Company used the following assumptions: the risk-free interest rate is the rate equivalent to the expected term of the option interpolated from the U.S. Treasury Yield Curve on the valuation date and historical volatility is calculated by taking the standard deviation of historical returns using weekly and monthly data. The fair value of these SSARs was $5.06 per share, based on a risk-free interest rate of 2.386% , a dividend yield of 3.110% and a volatility of 23.434% using an expected term of ten years. A summary of the status of the Company’s SSARs as of and changes during the period indicated are presented in the following table: Awards Weighted-average grant date fair value Weighted-average remaining contractual term (years) Outstanding December 31, 2015 - - - Granted 29,014 $ 3.48 10.0 Exercised - - Forfeited - - Outstanding December 31, 2016 29,014 $ 3.48 9.1 Granted 24,346 5.06 10.0 Exercised - - Forfeited - - Outstanding December 31, 2017 53,360 $ 4.20 8.5 Of the SSARs outstanding at December 31, 2017, 9,668 vested and were exercisable . SSARs vest over a three year period – 33% per year. Share-based compensation expense is included as a component of salaries and employee benefits in the consolidated statements of income. The following tables illustrate stock-based compensation expense recognized on non-vested equity awards during the years ended December 31, 201 7 , 201 6 and 201 5 and the unrecognized stock-based compensation expense as of December 31, 201 7 : Years ended December 31, (dollars in thousands) 2017 2016 2015 Stock-based compensation expense: Director stock incentive plan $ 116 $ 174 $ 107 Omnibus stock incentive plan 194 141 74 Employee stock purchase plan 23 15 44 Total stock-based compensation expense $ 333 $ 330 $ 225 In addition, both during 201 7 and 2016 the Company accrued $0.2 million in stock-based compensation expense for restricted stock and SSARs to be awarded under the Omnibus Plan. The Company did not accrue stock-based compensation expense during 2015. As of (dollars in thousands) December 31, 2017 Unrecognized stock-based compensation expense: Director plan $ 119 Omnibus plan 280 Total unrecognized stock-based compensation expense $ 399 The unrecognized stock-based compensation expense as of December 31, 201 7 will be recognized ratably over the periods ended January 201 9 and January 2020 for the Director Plan and the Omnibus Plan, respectively. Transactions under the Company’s stock option plans as of and changes during the periods indicated are presented in the following table: Options Weighted-average exercise price Weighted-average remaining contractual term (years) Outstanding and exercisable, December 31, 2014 28,500 19.13 3.0 Granted - - Exercised (5,250) 19.27 Forfeited - - Outstanding and exercisable, December 31, 2015 23,250 19.09 2.0 Granted - - Exercised (750) 18.50 Forfeited - - Outstanding and exercisable, December 31, 2016 22,500 $ 19.12 1.0 Granted - - Exercised (21,750) 19.14 Forfeited - - Outstanding and exercisable, December 31, 2017 750 $ 18.50 0.2 In the above table, the weighted-average exercise price includes options with exercise prices ranging from $17.37 to $19.27 . During 2017, there were 21,750 stock options exercised at a price of $19.14 per share. The intrinsic value of these stock options was $79,715 . The tax deduction realized from the exercise of these options was $363,392 resulting in a tax benefit of $123,553 . During 2016, there were 750 stock options exercised at a price of $18.50 per share. The intrinsic value of these stock options was $2,585 and the tax deduction realized from the exercise of these options was $2,375 resulting in a tax benefit of $808 . The Company has not issued stock options since 2008. In addition to the 2012 stock incentive plans, the Company established the 2002 Employee Stock Purchase Plan (the ESPP) and reserved 165,000 shares of its un-issued capital stock for issuance under the plan. The ESPP was designed to promote broad-based employee ownership of the Company’s stock and to motivate employees to improve job performance and enhance the financial results of the Company. Under the ESPP, participation is voluntary whereby employees use automatic payroll withholdings to purchase the Company’s capital stock at a discounted price based on the fair market value of the capital stock as measured on either the commencement or termination dates, as defined. As of December 31 , 2017, 69,701 shares have been issued under the ESPP. The ESPP is considered a compensatory plan and is required to comply with the provisions of current accounting guidance. The Company recognizes compensation expense on its ESPP on the date the shares are purchased and it is included as a component of salaries and employee benefits in the consolidated statements of income. The Company also established the dividend reinvestment plan (the DRP) for its shareholders. The DRP is designed to avail the Company’s stock at no transactional cost to its shareholders. Cash dividends paid to shareholders who are enrolled in the DRP plus voluntary cash deposits received can be used to purchase shares; directly from the Company, from shares that become available in the open market or in negotiated transactions with third parties. The Company has reserved 750,000 shares of its un-issued capital sto ck for issuance under the DRP. As of December 31, 201 7 , there were 597,216 shares available for future issuance. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Income Taxes | 11. INCOME TAXES Pursuant to the accounting guidelines related to income taxes, the Company has evaluated its material tax positions as of December 31, 201 7 and 201 6 . Under the “more-likely-than-not” threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. In periods subsequent to December 31, 201 7 , determinations of potentially adverse material tax positions will be evaluated to determine whether an uncertain tax position may have previously existed or has been originated. In the event an adverse tax position is determined to exist, penalty and interest will be accrued, in accordance with the Internal Revenue Service (IRS) guidelines, and will be recorded as a component of other expenses in the Company’s consolidated statements of income. As of December 31, 201 7 , there were no unrecognized tax benefits that, if recognized, would significantly affect the Company’s effective tax rate. Also, there were no penalties and interest recognized in the consolidated statements of income in 201 7 , 201 6 and 201 5 as a result of management’s evaluation of whether an uncertain tax position may exist nor does the Company foresee a change in its material tax positions that would give rise to the non-recognition of an existing tax benefit during the forthcoming twelve months. Tax returns filed with the IRS are subject to review by law under a three-year statute of limitations. The Company has not received notification from the IRS regarding adverse tax issues for the current year or from tax returns filed for tax years 2016, 2015 or 2014. On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was signed into law. The bill reduces the Company’s federal corporate income tax rate from 34% to 21% effective January 1, 2018. An adjustment of $1.1 million was made in December 2017 to re-measure the net deferred tax liability at the new tax rate. The following temporary differences gav e rise to the net deferred tax liability, a component of other assets in the consolidated balance sheets, as of the periods indicated: As of December 31, (dollars in thousands) 2017 2016 Deferred tax assets: Allowance for loan losses $ 1,930 $ 3,184 Deferred interest from non-accrual assets 180 425 Other 471 336 Total 2,581 3,945 Deferred tax liabilities: Net unrealized gains on available-for-sale securities (480) (711) Loan fees and costs (1,023) (1,525) Automobile leasing (2,298) (3,263) Depreciation (263) (368) Mortgage loan servicing rights (268) (430) Total (4,332) (6,297) Deferred tax liability, net $ (1,751) $ (2,352) The components of the total provision for income taxes for the years indicated are as follows: Years ended December 31, (dollars in thousands) 2017 2016 2015 Current $ 1,872 $ 1,521 $ 173 Deferred (666) 1,248 1,645 Total provision for income taxes $ 1,206 $ 2,769 $ 1,818 The deferred tax liability at December 31, 2017 included a $1.1 million credit to the provision for income taxes for the effects of the Tax Cuts and Jobs Act. The reconciliation between the expected statutory income tax and the actual provision for income taxes is as follows: Years ended December 31, (dollars in thousands) 2017 2016 2015 Expected provision at the statutory rate $ 3,373 $ 3,557 $ 3,033 Tax-exempt income (845) (742) (715) Bank owned life insurance (198) (120) (116) Nondeductible interest expense 19 14 14 Nondeductible other expenses and other, net (59) 60 41 Tax credits - - (439) Tax rate change adjustment (1,084) - - Actual provision for income taxes $ 1,206 $ 2,769 $ 1,818 |
Retirement Plan
Retirement Plan | 12 Months Ended |
Dec. 31, 2017 | |
Retirement and Employee Benefits [Abstract] | |
Retirement Plan | 12. RETIREMENT PLAN The Company has a defined contribution profit sharing 401(k) plan covering substantially all of its employees. The plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Contributions to the plan approximated $0.4 million, $0.4 million and $0.4 million in 2017, 2016 and 2015. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | 13. FAIR VALUE MEASUREMENTS The accounting guidelines establish a framework for measuring and disclosing information about fair value measurements. The guidelines of fair value reporting instituted a valuation hierarchy for disclosure of the inputs used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - inputs are quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; Level 3 - inputs are unobservable and are based on the Company’s own assumptions to measure assets and liabilities at fair value. Level 3 pricing for securities may also include unobservable inputs based upon broker-traded transactions. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The Company uses fair value to measure certain assets and, if necessary, liabilities on a recurring basis when fair value is the primary measure for accounting. Thus, the Company uses fair value for AFS securities. Fair value is used on a non-recurring basis to measure certain assets when adjusting carrying values to market values, such as impaired loans, other real estate owned (ORE) and other repossessed assets. The following table represents the carrying amount and estimated fair value of the Company’s financial instruments: December 31, 2017 Quoted prices Significant Significant in active other other Carrying Estimated markets observable inputs unobservable inputs (dollars in thousands) amount fair value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 15,825 $ 15,825 $ 15,825 $ - $ - Available-for-sale securities 157,385 157,385 828 156,557 - FHLB stock 2,832 2,832 - 2,832 - Loans and leases, net 628,767 625,052 - - 625,052 Loans held-for-sale 2,181 2,221 - 2,221 - Accrued interest receivable 2,786 2,786 - 2,786 - Financial liabilities: Deposits with no stated maturities 623,080 623,080 - 623,080 - Time deposits 107,066 105,758 - 105,758 - Short-term borrowings 18,502 18,502 - 18,502 - FHLB advances 21,204 21,066 - 21,066 - Accrued interest payable 346 346 - 346 - December 31, 2016 Quoted prices Significant Significant in active other other Carrying Estimated markets observable inputs unobservable inputs (dollars in thousands) amount fair value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 25,843 $ 25,843 $ 25,843 $ - $ - Available-for-sale securities 130,037 130,037 633 129,404 - FHLB stock 2,606 2,606 - 2,606 - Loans and leases, net 588,130 590,688 - - 590,688 Loans held-for-sale 2,854 2,907 - 2,907 - Accrued interest receivable 2,246 2,246 - 2,246 - Financial liabilities: Deposits with no stated maturities 610,706 610,706 - 610,706 - Time deposits 92,753 91,969 - 91,969 - Short-term borrowings 4,223 4,223 - 4,223 - Accrued interest payable 181 181 - 181 - The carrying value of short-term financial instruments, as listed below, approximates their fair value. These instruments generally have limited credit exposure, no stated or short-term maturities, carry interest rates that approximate market and generally are recorded at amo unts that are payable on demand : · Cash and cash equivalents; · Non-interest bearing deposit accounts; · Savings, interest-bearing checking and money market accounts and · Short-term borrowings. Securities: Fair values on investment securities are determined by prices provided by a third-party vendor, who is a provider of financial market data, analytics and related services to financial institutions. Loans and leases: The fair value of loans is estimated by the net present value of the future expected cash flows discounted at current offering rates for similar loans. Current offering rates consider, among other things, credit risk. The carrying value that fair value is compared to is net of the allowance for loan losses and since there is significant judgment included in evaluating credit quality, loans are classified within Level 3 of the fair value hierarchy. The net carrying value of loans acquired through the Wayne Bank branch acquisition approximates the fair value of the loans. Loans held-for-sale: The fair value of loans held-for-sale is estimated using rates currently offered for similar loans and is typically obtained from the Federal National Mortgage Association (FNMA) or the Federal Home Loan Bank of Pittsburgh (FHLB). Certificates of deposit: The fair value of certificates of deposit is based on discounted cash flows using rates which approximate market rates for deposits of similar maturities. The fair value of certificates of deposit acquired through the Wayne Bank branch acquisition represents the estimated fair value of these deposits. FHLB advances: Fair value is estimated using the rates currently offered for similar borrowings. The following tables illustrate the financial instruments measured at fair value on a recurring basis segregated by hierarchy fair value levels as of the period s indicated: Quoted prices in active Significant other Significant other Total carrying value markets observable inputs unobservable inputs (dollars in thousands) December 31, 2017 (Level 1) (Level 2) (Level 3) Available-for-sale securities: Agency - GSE $ 9,099 $ - $ 9,099 $ - Obligations of states and political subdivisions 44,306 - 44,306 - MBS - GSE residential 103,152 - 103,152 - Equity securities - financial services 828 828 - - Total available-for-sale securities $ 157,385 $ 828 $ 156,557 $ - Quoted prices in active Significant other Significant other Total carrying value markets observable inputs unobservable inputs (dollars in thousands) December 31, 2016 (Level 1) (Level 2) (Level 3) Available-for-sale securities: Agency - GSE $ 18,276 $ - $ 18,276 $ - Obligations of states and political subdivisions 40,191 - 40,191 - MBS - GSE residential 70,937 - 70,937 - Equity securities - financial services 633 633 - - Total available-for-sale securities $ 130,037 $ 633 $ 129,404 $ - Equity securities in the AFS portfolio are measured at fair value using quoted market prices for identical assets and are classified within Level 1 of the valuation hierarchy. Debt securities in the AFS portfolio are measured at fair value using market quotations provided by a third-party vendor, who is a provider of financial market data, analytics and related services to financial institutions. Assets classified as Level 2 use valuation techniques that are common to bond valuations. That is, in active markets whereby bonds of similar characteristics frequently trade, quotes for similar assets are obtained. For the periods ending December 31 , 2017 and 2016, there were no transfers to or from Level 1 and Level 2 fair value measurements for financial assets measured on a recurring basis. There were no changes in Level 3 financial instruments measured at fair value on a recurring basis as of and for the periods ending December 31 , 2017 and 2016, respectively. The following table illustrates the financial instruments measured at fair value on a non-recurring basis segregated by hierarchy fair value leve ls as of the periods indicated: Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) at December 31, 2017 (Level 1) (Level 2) (Level 3) Impaired loans $ 2,952 $ - $ - $ 2,952 Other real estate owned 814 - - 814 Total $ 3,766 $ - $ - $ 3,766 Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) at December 31, 2016 (Level 1) (Level 2) (Level 3) Impaired loans $ 6,254 $ - $ - $ 6,254 Other real estate owned 872 - - 872 Total $ 7,126 $ - $ - $ 7,126 From time-to-time, the Company may be required to record at fair value financial instruments on a non-recurring basis, such as impaired loans, ORE and other repossessed assets. These non-recurring fair value adjustments involve the application of lower-of-cost-or-market accounting on write downs of individual assets. The following describes valuation methodologies used for financial instruments measured at fair value on a non-recurring basis. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves, a component of the allowance for loan losses, and as such are carried at the lower of net recorded investment or the estimated fair value. Estimates of fair value of the collateral are determined based on a variety of information, including available valuations from certified appraisers for similar assets, present value of discounted cash flows and inputs that are estimated based on commonly used and generally accepted industry liquidation advance rates and estimates and assumptions developed by management. Valuation techniques for impaired loans are typically determined through independent appraisals of the underlying collateral or may be determined through present value of discounted cash flows. Both techniques include various Level 3 inputs which are not identifiable. The valuation technique may be adjusted by management for estimated liquidation expenses and qualitative factors such as economic conditions. If real estate is not the primary source of repayment, present value of discounted cash flows and estimates using generally accepted industry liquidation advance rates and other factors may be utilized to determine fair value. At December 31, 2017 and 2016, the range of liquidation expenses and other valuation adjustments applied to impaired loans ranged from -15.95% to -51.55% and from -22.72% to -57.49% respectively. The weighted-average of liquidation expenses and other valuation adjustments applied to impaired loans amounted to -23.03% and -32.47% as of December 31, 2017 and December 31, 2016, respectively. Due to the multitude of assumptions, many of which are subjective in nature, and the varying inputs and techniques used to determine fair value, the Company recognizes that valuations could differ across a wide spectrum of techniques employed. Accordingly, fair value estimates for impaired loans are classified as Level 3. For ORE, fair value is generally determined through independent appraisals of the underlying properties which generally include various Level 3 inputs which are not identifiable. Appraisals form the basis for determining the net realizable value from these properties. Net realizable value is the result of the appraised value less certain costs or discounts associated with liquidation which occurs in the normal course of business. Management’s assumptions may include consideration of the location and occupancy of the property, along with current economic conditions. Subsequently, as these properties are actively marketed, the estimated fair values may be periodically adjusted through incremental subsequent write-downs. These write-downs usually reflect decreases in estimated values resulting from sales price observations as well as changing economic and market conditions. At December 31, 2017 and December 31, 2016, the discounts applied to the appraised values of ORE ranged from -17.95% to -99.00% and -21.74% to -99.00% , respectively. As of December 31, 2017 and December 31, 2016, the weighted-average of discount to the appraisal values of ORE amounted to -35.30% and -32.38% , respectively. As of December 31, 2017, the Company had no automobiles in other repossessed assets. As of December 31, 2016, the Company had one automobile in other repossessed assets with a balance of $8 thousand. There were no adjustments to the carrying value of th is automobile . Financial Instruments with Off-Balance Sheet Risk The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The contract or notional amounts of those instruments reflect the extent of the Company’s involvement in particular classes of financial instruments. Because of the nature of these instruments, the fair values of these off-balance sheet items are not material. The notional amount of the Company’s financial instruments with off-bal ance sheet risk was as follows: December 31, (dollars in thousands) 2017 2016 Off-balance sheet financial instruments: Commitments to extend credit $ 136,398 $ 128,543 Standby letters of credit 4,488 7,645 Commitments to Extend Credit and Standby Letters of Credit The Company’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. The Company evaluates each customer’s credit-worthiness on a case-by-case basis. The amount of collateral obtained, if considered necessary by the Company on extension of credit, is based on management’s credit assessment of the customer. Financial standby letters of credit are conditional commitments issued by the Company to guarantee performance of a customer to a third party. Those guarantees are issued primarily to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The Company’s performance under the guarantee is required upon presentation by the beneficiary of the financial standby letter of credit. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company was not required to recognize any liability in connection with the issuance of these financial standby letters of credit. The following table summarizes outstanding financial letters o f credit as of December 31, 2017 : More than Less than one year to Over five (dollars in thousands) one year five years years Total Secured by: Collateral $ 3,251 $ 25 $ 360 $ 3,636 Bank lines of credit 121 - - 121 3,372 25 360 3,757 Unsecured 731 - - 731 Total $ 4,103 $ 25 $ 360 $ 4,488 The Company has not incurred losses on its commitments in 201 7 , 201 6 or 201 5 . |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 14. EARNINGS PER SHARE Basic earnings per share (EPS) is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed in the same manner as basic EPS but also reflects the potential dilution that could occur from the grant of stock-based compensation awards. The Company maintains two active share-based compensation plans that may generate additional potentially dilutive common shares. For granted and unexercised stock options and stock-settled stock appreciation rights (SSARs), dilution would occur if Company-issued stock options or SSARs were exercised and converted into common stock. As of the years ended December 31, 201 7 , 201 6 and 201 5 , there were 14,300 , 2,969 and 4,264 potentially dilutive shares related to issued and unexercised stock options and SSARs . For restricted stock, dilution would occur from the Company’s previously granted but unvested shares. There were 9,619 , 8,114 and 6,873 potentially dilutive shares related to unvested restricted share grants as of the years ended December 31, 201 7 , 201 6 and 201 5 , respectively. In the computation of diluted EPS, the Company uses the treasury stock method to determine the dilutive effect of its granted but unexercised stock options and SSARs and unvested restricted stock. Under the treasury stock method, the assumed proceeds, as defined, received from shares issued in a hypothetical stock option exercise or restricted stock grant, are assumed to be used to purchase treasury stock. Proceeds include: amounts received from the exerci se of outstanding stock options and compensation cost for future service that the Company has not yet recognized in earnings. The Company does not consider awards from share-based grants in the computation of basic EPS. The following table illustrates the data used in computing basic and dilut ed EPS for the years indicated: Years ended December 31, 2017 2016 2015 (dollars in thousands except per share data) Basic EPS: Net income available to common shareholders $ 8,716 $ 7,693 $ 7,103 Weighted-average common shares outstanding 3,711,490 3,679,507 3,658,687 Basic EPS $ 2.35 $ 2.09 $ 1.94 Diluted EPS: Net income available to common shareholders $ 8,716 $ 7,693 $ 7,103 Weighted-average common shares outstanding 3,711,490 3,679,507 3,658,687 Potentially dilutive common shares 23,919 11,083 11,137 Weighted-average common and potentially dilutive shares outstanding 3,735,409 3,690,590 3,669,824 Diluted EPS $ 2.33 $ 2.09 $ 1.94 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | 15. REGULATORY MATTERS The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Under these guidelines, assets and certain off-balance sheet items are assigned to broad risk categories, each with appropriate weights. The resulting capital ratios represent capital as a percentage of total risk-weighted assets. The guidelines require all banks and bank holding companies to maintain a minimum ratio of total risk-based capital to total risk-weighted assets (Total Risk Adjusted Capital) of 8% , including Tier I common equity to total risk-weighted assets (Tier I Common Equity) of 4.5% , Tier I capital to total risk-weighted assets (Tier I Capital) of 6% and Tier I capital to average total assets (Leverage Ratio) of at least 4% . A capital conservation buffer, comprised of common equity Tier I capital, is also established above the regulatory minimum capital requirements rising up to 2.50% by 2019. As of December 31, 201 7 and 201 6 , the Company and the Bank exceeded all capital adequacy requirements to which it was subject. The following table reflects the actual and required capital and the related capital ratios as of the periods indicated. No amounts were deducted from capital for interest-rate risk in either 201 7 or 201 6 . For capital adequacy To be well capitalized For capital purposes with capital under prompt corrective Actual adequacy purposes conservation buffer* action provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2017: Total capital (to risk-weighted assets) Consolidated $ 93,204 14.9% ≥ $ 50,028 8.0% ≥ $ 57,845 9.3% N/A N/A Bank $ 93,130 14.9% ≥ $ 50,122 8.0% ≥ $ 57,954 9.3% ≥ $ 62,653 10.0% Tier 1 common equity (to risk-weighted assets) Consolidated $ 85,369 13.7% ≥ $ 28,141 4.5% ≥ $ 35,957 5.8% N/A N/A Bank $ 85,280 13.6% ≥ $ 28,194 4.5% ≥ $ 36,025 5.8% ≥ $ 40,724 6.5% Tier I capital (to risk-weighted assets) Consolidated $ 85,369 13.7% ≥ $ 37,521 6.0% ≥ $ 45,338 7.3% N/A N/A Bank $ 85,280 13.6% ≥ $ 37,592 6.0% ≥ $ 45,423 7.3% ≥ $ 50,122 8.0% Tier I capital (to average assets) Consolidated $ 85,369 9.9% ≥ $ 34,471 4.0% ≥ $ 34,471 4.0% N/A N/A Bank $ 85,280 9.9% ≥ $ 34,483 4.0% ≥ $ 34,483 4.0% ≥ $ 43,103 5.0% As of December 31, 2016: Total capital (to risk-weighted assets) Consolidated $ 86,702 14.9% ≥ $ 46,550 8.0% ≥ $ 50,186 8.6% N/A N/A Bank $ 86,332 14.8% ≥ $ 46,538 8.0% ≥ $ 50,174 8.6% ≥ $ 58,172 10.0% Tier 1 common equity (to risk-weighted assets) Consolidated $ 79,250 13.6% ≥ $ 26,184 4.5% ≥ $ 29,821 5.1% N/A N/A Bank $ 79,033 13.6% ≥ $ 26,178 4.5% ≥ $ 29,813 5.1% ≥ $ 37,812 6.5% Tier I capital (to risk-weighted assets) Consolidated $ 79,250 13.6% ≥ $ 34,912 6.0% ≥ $ 38,549 6.6% N/A N/A Bank $ 79,033 13.6% ≥ $ 34,903 6.0% ≥ $ 38,539 6.6% ≥ $ 46,538 8.0% Tier I capital (to average assets) Consolidated $ 79,250 10.3% ≥ $ 30,717 4.0% ≥ $ 30,717 4.0% N/A N/A Bank $ 79,033 10.3% ≥ $ 30,650 4.0% ≥ $ 30,650 4.0% ≥ $ 38,313 5.0% * The minimums under Basel III increase by 0.625% (the capital conservation buffer) annually until 2019. The Company’s principal source of funds for dividend payments is dividends received from the Bank. Banking regulations and Pennsylvania law limit the amount of dividends that may be paid from the Bank to the Company without prior approval of regulatory agencies. Accordingly, at December 31, 2017, approximately $76.7 million was available for dividend distribution from the Bank to the Company in 2018. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 16. RELATED PARTY TRANSACTIONS During the ordinary course of business, loans are made to executive officers, directors, greater than 5% shareholders and associates of such persons. These transactions are executed on substantially the same terms and at the rates prevailing at the time for comparable transactions with others. These loans do not involve more than the normal risk of collectability or present other unfavorable features. A summary of loan activity with officers, directors, associates of such persons and shareholders who own more than 5% of the Company’s out standing shares is as follows: Years ended December 31, (dollars in thousands) 2017 2016 2015 Balance, beginning $ 7,849 $ 6,983 $ 4,924 Additions 1,111 2,629 5,672 Collections (2,463) (1,763) (3,613) Balance, ending $ 6,497 $ 7,849 $ 6,983 As of December 31, 201 7 , 201 6 and 201 5 , deposits from executive officers, directors and associates of such persons approximated $14.3 million, $12.9 million and $12.9 million, respectively. |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information (Unaudited) [Abstract] | |
Quarterly Financial Information (Unaudited) | 17. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following is a summary of quarterly results of operations for the years indicated: 2017 First Second Third Fourth (dollars in thousands except per share data) quarter quarter quarter quarter Total Interest income $ 7,366 $ 7,854 $ 7,928 $ 7,916 $ 31,064 Interest expense (688) (787) (882) (866) (3,223) Net interest income 6,678 7,067 7,046 7,050 27,841 Provision for loan losses (325) (225) (375) (525) (1,450) Loss on sale of investment securities - - - (147) (147) Other income 2,105 2,131 2,248 2,029 8,513 Other expenses (5,797) (6,051) (6,035) (6,953) (24,836) Income before taxes 2,661 2,922 2,884 1,455 9,922 (Provision) credit for income taxes (681) (739) (658) 872 (1,206) Net income $ 1,980 $ 2,183 $ 2,226 $ 2,327 $ 8,716 Net income per share - basic $ 0.53 $ 0.59 $ 0.60 $ 0.63 $ 2.35 Net income per share - diluted $ 0.53 $ 0.59 $ 0.60 $ 0.61 $ 2.33 2016 First Second Third Fourth (dollars in thousands except per share data) quarter quarter quarter quarter Total Interest income $ 6,736 $ 6,715 $ 7,006 $ 7,038 $ 27,495 Interest expense (598) (574) (585) (601) (2,358) Net interest income 6,138 6,141 6,421 6,437 25,137 Provision for loan losses (150) (275) (225) (375) (1,025) Gain on sale of investment securities - 9 - - 9 Other income 1,687 2,091 2,024 2,194 7,996 Other expenses (5,388) (5,369) (5,409) (5,489) (21,655) Income before taxes 2,287 2,597 2,811 2,767 10,462 Provision for income taxes (586) (669) (776) (738) (2,769) Net income $ 1,701 $ 1,928 $ 2,035 $ 2,029 $ 7,693 Net income per share - basic $ 0.46 $ 0.53 $ 0.55 $ 0.55 $ 2.09 Net income per share - diluted $ 0.46 $ 0.53 $ 0.55 $ 0.55 $ 2.09 2015 First Second Third Fourth (dollars in thousands except per share data) quarter quarter quarter quarter Total Interest income $ 6,304 $ 6,438 $ 6,612 $ 6,660 $ 26,014 Interest expense (697) (647) (580) (605) (2,529) Net interest income 5,607 5,791 6,032 6,055 23,485 Provision for loan losses (150) (150) (200) (575) (1,075) Gain on sale of investment securities 2 16 8 54 80 Other income 1,748 1,817 2,015 1,873 7,453 Other expenses (5,087) (5,744) (5,239) (4,952) (21,022) Income before taxes 2,120 1,730 2,616 2,455 8,921 (Provision) credit for income taxes (547) 50 (687) (634) (1,818) Net income $ 1,573 $ 1,780 $ 1,929 $ 1,821 $ 7,103 Net income per share - basic $ 0.43 $ 0.49 $ 0.53 $ 0.49 $ 1.94 Net income per share - diluted $ 0.43 $ 0.49 $ 0.53 $ 0.49 $ 1.94 |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Contingencies [Abstract] | |
Contingencies | 18. CONTINGENCIES The nature of the Company’s business generates litigation involving matters arising in the ordinary course of business. However, in the opinion of management of the Company after consulting with the Company’s legal counsel, no legal proceedings are pending, which, if determined adversely to the Company or the Bank, would have a material effect on the Company’s shareholders’ equity or results of operations. No legal proceedings are pending other than ordinary routine litigation incident to the business of the Company and the Bank. In addition, to management’s knowledge, no government authorities have initiated or contemplated any material legal actions against the Company or the Bank. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2017 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | 19. RECENT ACCOUNTING PRONOUNCEMENTS In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments . The amendments in this update require financial assets measured at amortized cost basis to be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. Previously, when credit losses were measured under GAAP, an entity only considered past events and current conditions when measuring the incurred loss. The amendments in this update broaden the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. An entity must use judgement in determining the relevant information and estimation methods that are appropriate under the circumstances. The amendments in this update also require that credit losses on available-for-sale debt securities be presented as an allowance for credit losses rather than a writedown. The amendments in this update are effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2019 for public companies. Early adoption is permitted beginning after December 15, 2018, including interim periods within those fiscal years. An entity will apply the amendments in this update through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption (modified-retrospective approach). Upon adoption, the change in this accounting guidance could result in an increase in the Company's allowance for loan losses and require the Company to record loan losses more rapidly. The Company is currently evaluating the impact of ASU 2016-13 on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting . The areas for simplification in the update involve several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this update are effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. Amendments should be applied using either a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted, retrospectively, prospectively, or using either a prospective transition method or a retrospective transition method. The Company adopted this accounting standard during the first quarter of 2017 and it did not have a material impact on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP: identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the performance obligations in the contract; recognize revenue when (or as) the entity satisfies a performance obligation. The standard is effective for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients , or a modified retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption. Subsequently, the FASB issued additional guidance to clarify certain implementation issues. Specifically, the FASB issued Principal versus Agent Considerations, Identifying Performance Obligations and Licensing, Narrow-Scope Improvements and Practical Expedients and Technical Corrections and Improvements in March, April, May and December 2016, respectively. These amendments do not change the core principle in Revenue from Contracts with Customers (Topic 606) and the effective date and transition requirements are consistent with those in Topic 606. The Company’s revenue is comprised of net interest income, which is explicitly excluded from the scope of the guidance, and non-interest income. The Company assessed our revenue streams that are within the scope of the standard; including wealth management fees, deposit related fees and gains on the sale of other real estate owned. As a result of implementing this standard, the Company changed its procedures for the recognition of estate fee income, but these changes did not have a material effect on its consolidated financial statements. The Company does anticipate the guidance will require expanded footnote disclosures during the first quarter of 2018. The Company adopted this guidance on January 1, 2018 using the modified retrospective approach. The cumulative adjustment to opening retained earnings of less than $0.1 million was deemed to be immaterial to the consolidated financial statements. In January 2016, the FASB issued ASU 2016-01 related to F inancial Instruments - Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities . The update applies to all entities that hold financial assets or owe financial liabilities. The amendments in this update make targeted improvements to U.S. GAAP as follows: · Require equity investments to be measured at fair value with changes in fair value recognized in net income; · Simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; · Require public business entities to use the exit price notion when measuring fair value of financial instruments for disclosure purposes; · Require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset; · Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities. The Company adopted this guidance on January 1, 2018 The adoption did not have a material impact on the Consolidated Financial Statements. As a result of this guidance, the Company will reclassify $0.4 million in net unrealized gains on equity securities from other comprehensive income to retained earnings on January 1, 2018. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 requires the recognition of a right-of-use asset and related lease liability by lessees for leases classified as operating leases under GAAP. The Company is expected to make an election to exclude leases less than 12 months from the provisions of this ASU. The amendments in this update are effective for the Company for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of the amendments in this update are permitted. A modified retroactive approach must be applied for leases existing at, or entered into after, the beginning of the earliest comparative period. Upon adoption, this change in accounting guidance could have a significant impact on the consolidated balance sheets and could potentially impact debt covenant agreements with our customers. The Company is currently evaluating the amount of the impact of ASU 2016-02 on its consolidated financial statements. In August 2016, the FASB released ASU 2016-15, Statement of Cash Flows (Topic 230) to clarify the presentation of certain cash receipts and payments on the statement of cash flows. The update addressed eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The amendments in this update should be applied using a retrospective transition method to each period presented. The Company is currently evaluating the impact of the adoption of ASU 2016-15 on its consolidated financial statements, but does not expect it to have a significant impact. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350) to simplify the test for goodwill impairment. To simplify the subsequent measurement of goodwill, the Board eliminated Step 2 from the goodwill impairment test. Under the amendments in this update, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting units fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity should apply the amendments in his update on a prospective basis. The amendments in this update are effective for the Company for its annual goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company has early adopted this standard and it did not have an impact on its consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20) Premium Amortization on Purchased Callable Debt Securities to amend the amortization period for certain purchased callable debt securities held at a premium. The amendments in this update shorten the amortization period for the premium to the earliest call date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. An entity should apply the amendments in this update on a modified retrospective basis through a cumulative effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company has early adopted this standard and it did not have an effect on its consolidated financial statements. In February 2018, the FASB released ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220) to allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act . The amendments in this update also require certain disclosures about stranded tax effects. The guidance is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted for periods for which financial statements have not yet been issued or available for issuance, including in the period the Act was enacted. The Company has elected to early adopt and reclassify the stranded income tax effects of the Act from accumulated other comprehensive income to retained earnings during the fourth quarter of 2017. |
Parent Company Only
Parent Company Only | 12 Months Ended |
Dec. 31, 2017 | |
Parent Company Only [Abstract] | |
Parent Company Only | 20. PARENT COMPANY ONLY The following is the condensed financial information for Fidelity D & D Bancorp, Inc. on a parent company only basis as of and for the years indicated: Condensed Balance Sheets As of December 31, (dollars in thousands) 2017 2016 Assets: Cash $ 205 $ 141 Investment in subsidiary 86,873 80,192 Securities available-for-sale 828 631 Other assets 45 35 Total $ 87,951 $ 80,999 Liabilities and shareholders' equity: Liabilities $ 568 $ 368 Capital stock and retained earnings 85,579 79,250 Accumulated other comprehensive income 1,804 1,381 Total $ 87,951 $ 80,999 Condensed Income Statements Years ended December 31, (dollars in thousands) 2017 2016 2015 Income: Equity in undistributed earnings of subsidiary $ 6,685 $ 5,289 $ 4,659 Dividends from subsidiary 2,574 2,960 2,844 Other income 22 21 20 Total income 9,281 8,270 7,523 Operating expenses 1,094 864 610 Income before taxes 8,187 7,406 6,913 Credit for income taxes 529 287 190 Net income $ 8,716 $ 7,693 $ 7,103 Statements of Comprehensive Income Years ended December 31, (dollars in thousands) 2017 2016 2015 Bancorp net loss $ (542) $ (556) $ (400) Equity in net income of subsidiary 9,258 8,249 7,503 Net income 8,716 7,693 7,103 Other comprehensive (loss) income, before tax: Unrealized holding gains (losses) on available-for-sale securities 197 86 (49) Tax effect (67) (29) 17 Unrealized gain (loss), net of tax 130 57 (32) Equity in other comprehensive loss of subsidiary (4) (864) (523) Other comprehensive income (loss), net of tax 126 (807) (555) Total comprehensive income, net of tax $ 8,842 $ 6,886 $ 6,548 Condensed Statements of Cash Flows Years ended December 31, (dollars in thousands) 2017 2016 2015 Cash flows from operating activities: Net income $ 8,716 $ 7,693 $ 7,103 Adjustments to reconcile net income to net cash used in operations: Equity in earnings of subsidiary (9,258) (8,249) (7,503) Stock-based compensation expense 550 519 225 Deferred income tax (69) - - Changes in other assets and liabilities, net (26) (36) (2) Net cash used in operating activities (87) (73) (177) Cash flows provided by investing activities: Dividends received from subsidiary 2,574 2,960 2,844 Net cash provided by investing activities 2,574 2,960 2,844 Cash flows used in financing activities: Dividends paid, net of dividend reinvestment (2,954) (3,061) (2,844) Exercise of stock options 416 14 101 Withholdings to purchase capital stock 126 111 102 Cash paid in lieu of fractional shares (11) - - Net cash used in financing activities (2,423) (2,936) (2,641) Net change in cash 64 (49) 26 Cash, beginning 141 190 164 Cash, ending $ 205 $ 141 $ 190 |
Acquisition
Acquisition | 12 Months Ended |
Dec. 31, 2017 | |
Acquisition [Abstract] | |
Acquistion | 21. ACQUISITION On March 17, 2017, the Company completed the acquisition of the West Scranton branch of Wayne Bank, the wholly owned banking subsidiary of Norwood Financial Corp., pursuant to the terms of the Branch Purchase and Deposit Assumption Agreement dated September 29, 2016. The Company purchased all of the deposit liabilities associated with the branch, certain loans, and the branch real estate, and immediately closed the branch and consolidated the acquired deposits and loans into its nearby West Scranton branch office. The Company expects this transaction to expand its customer base in West Scranton. The transaction has been accounted for using the acquisition method of accounting. The acquired assets and assumed liabilities were recorded at book value which also represented estimated fair value at the date of acquisition. Management made significant estimates and exercised significant judgement in estimating fair value, but the fair value adjustments were deemed immaterial to the financial statements. The Company recognized $41 thousand of acquisition-related costs during 2017. These costs are being expensed as incurred and are presented in non-interest expenses on the consolidated statements of income. Costs incurred in 2017 consist principally of legal fees and other professional fees. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition: (dollars in thousands) March 17, 2017 Cash and cash equivalents $ 11,817 Loans 1,574 Bank premises and equipment 264 Goodwill 209 Accrued interest receivable and other assets 4 Total assets acquired $ 13,868 Deposits $ 13,809 Accrued interest payable and other liabilities 59 Total liabilities assumed $ 13,868 The Company acquired $1.6 million in residential and consumer loans. None of the loans that were acquired had evidence of credit quality deterioration. The Company recorded goodwill associated with the acquisition of the West Scranton branch of Wayne bank totaling $0.2 million. Goodwill is not amortized, but is periodically evaluated for impairment. The Company did not recognize any impairment during 2017. For income tax purposes, goodwill will be deducted over a 15 year period. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2017 | |
Retirement and Employee Benefits [Abstract] | |
Employee Benefits | 22. EMPLOYEE BENEFITS Bank-Owned Life Insurance (BOLI) The Company has purchased single premium BOLI policies on certain officers. The policies are recorded at their cash surrender values. Increases in cash surrender values are included in non-interest income in the consolidated statements of income. In March 2017, the Company purchased an additional $8.0 million of BOLI. The policies’ cash surrender value totaled $20.0 million and $11.4 million, respectively, as of December 31, 2017 and 2016 and is reflected as an asset on the consolidated balance sheets. As of December 31, 2017 and 2016, the Company has recorded income of $581 thousand and $353 thousand, respectively. Officer Life Insurance In 2017, the Bank entered into separate split dollar life insurance arrangements (Split Dollar Agreements) with eleven officers. This plan provides each officer a specified death benefit should the officer die while in the Bank’s employ. The Bank paid the insurance premiums in March 2017 and the arrangements were effective in March 2017. The Bank owns the policies and all cash values thereunder. Upon death of the covered employee, the agreed-upon amount of death proceeds from the policies will be paid directly to the insured’s beneficiary. As of December 31, 2017, the policies had total death benefits of $20.8 million of which $4.0 million would have been paid to the officer’s beneficiaries and the remaining $16.8 million would have been paid to the Bank. In addition, three executive officers have the opportunity to retain a split dollar benefit equal to two times their highest base salary after separation from service if the vesting requirements are met. As of December 31, 2017, the Company accrued expenses of $30 thousand for the split dollar benefit. Supplemental Executive Retirement plan (SERP) On March 29, 2017, the Bank entered into separate supplemental executive retirement agreements (individually the “SERP Agreement”) with five officers, pursuant to which the Bank will credit an amount to a SERP account established on each participant’s behalf while they are actively employed by the Bank for each calendar month from March 1, 2017 until retirement. As of December 31, 2017, the Company accrued expenses of $383 thousand in connection with the SERP. |
Nature Of Operations And Summ31
Nature Of Operations And Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2017 | |
Nature Of Operations And Summary Of Significant Accounting Policies [Abstract] | |
Principles Of Consolidation | PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Fidelity D & D Bancorp, Inc. and its wholly-owned subsidiary, The Fidelity Deposit and Discount Bank (the Bank) (collectively, the Company). All significant inter-company balances and transactions have been eliminated in consolidation. |
Nature Of Operations | NATURE OF OPERATIONS The Company provides a full range of banking, trust and financial services to individuals, small businesses and corporate customers. Its primary market areas are Lackawanna and Luzerne Counties, Pennsylvania. The Company's primary deposit products are demand deposits and interest-bearing time and savings accounts. It offers a full array of loan products to meet the needs of retail and commercial customers. The Company is subject to regulation by the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Department of Banking. |
Use Of Estimates | USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of investment securities, the determination and the amount of impairme nt in the securities portfolios, and the related realization of the deferred tax assets related to the allowance for loan losses, other-than-temporary impairment on and valuations of investment securities. In connection with the determination of the allowance for loan losses, management generally obtains independent appraisals for significant properties. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near-term. However, the amount of the change that is reasonably possible cannot be estimated. The Company’s investment securities are comprised of a variety of financial instruments. The fair values of the securities are subject to various risks including changes in the interest rate environment and general economic conditions including illiquid conditions in the capital markets. Due to the increased level of these risks and their potential impact on the fair values of the securities, it is possible that the amounts reported in the accompanying financial statements could materially change in the near-term. Any credit-related impairment is included as a component of non-interest income in the consolidated income statements while non-credit-related impairment is charged to other comprehensive income, net of tax. |
Significant Group Concentration Of Credit Risk | SIGNIFICANT GROUP CONCENTRATION OF CREDIT RISK The Company originates commercial, consumer, and mortgage loans to customers primarily located in Lackawanna and Luzerne Counties of Pennsylvania. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on the economic sector in which the Company operates. The loan portfolio does not have any significant concentrations from one industry or customer. |
Held-To-Maturity Securities | HELD-TO-MATURITY SECURITIES Debt securities, for which the Company has the positive intent and ability to hold to maturity, are reported at cost. Premiums and discounts are amortized or accreted, as a component of interest income over the life of the related security as an adjustment to yield using the interest method. The Company did not have any held-to-maturity securities at December 31, 2017 or 2016 . |
Trading Securities | TRADING SECURITIES Debt and equity securities held principally for resale in the near-term, or trading securities, are recorded at their fair values. Unrealized gains and losses are included in other income. The Company did not have investment securities held for trading purposes during 2017 or 2016 . |
Available-For-Sale Securities | AVAILABLE-FOR-SALE SECURITIES Available-for-sale (AFS) securities consist of debt and equity securities classified as neither held-to-maturity nor trading and are reported at fair value. Premiums and discounts are amortized or accreted as a component of interest income over the life of the related security as an adjustment to yield using the interest method. Unrealized holding gains and losses, including non-credit-related other-than-temporary impairment (OTTI), on AFS securities are reported as a separate component of shareholders’ equity, net of deferred income taxes, until realized. The net unrealized holding gains and losses are a component of accumulated other comprehensive income. Gains and losses from sales of securities AFS are determined using the specific identification method. |
Federal Home Loan Bank Stock | FEDERAL HOME LOAN BANK STOCK The Company, is a member of the Federal Home Loan Bank system, and as such is required to maintain an investment in capital stock of the Federal Home Loan Bank of Pittsburgh (FHLB). The amount the Company is required to invest is dependent upon the relative size of outstanding borrowings the Company has with the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at cost. |
Loans | LOANS Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at face value, net of unamortized loan fees and costs and the allowance for loan losses. Interest on residential real estate loans is recorded based on principal pay downs on an actual days basis. Commercial loan interest is accrued on the principal balance on an actual days basis. Interest on consumer loans is determined using the simple interest method. Generally, loans are placed on non-accrual status when principal or interest is past due 90 days or more. When a loan is placed on non-accrual status, all interest previously accrued but not collected is charged against current earnings. Any payments received on non-accrual loans are applied, first to the outstanding loan amounts, then to the recovery of any charged-off loan amounts. Any excess is treated as a recovery of lost interest. A modification of a loan constitutes a troubled debt restructuring (TDR) when a borrower is experiencing financial difficulty and the Company grants a concession that it would not otherwise grant based on current underwriting standards. Regardless of the type of concession, when modifying a loan , forgiveness of principal is rarely granted. |
Mortgage Banking Operations And Mortgage Servicing Rights | MORTGAGE BANKING OPERATIONS AND MORTGAGE SERVICING RIGHTS The Company sells one-to-four family residential mortgage loans on a servicing retained basis. On a loan sold where servicing was retained, the Company determines at the time of sale the value of the retained servicing rights, which represents the present value of the differential between the contractual servicing fee and adequate compensation, defined as the fee a sub-servicer would require to assume the role of servicer, after considering the estimated effects of prepayments. If material, a portion of the gain on the sale of the loan is recognized due to the value of the servicing rights, and a mortgage servicing asset is recorded. Commitments to sell one-to-four family residential mortgage loans are made primarily during the period between the intent to proceed and the closing of the mortgage loan. The timing of making these sale commitments is dependent upon the timing of the borrower’s election to lock-in the mortgage interest rate and fees prior to loan closing. Most of these sales commitments are made on a best-efforts basis whereby the Company is only obligated to sell the mortgage if the mortgage loan is approved and closed by the Company. Commitments to fund mortgage loans (rate lock commitments) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in the fair values of these derivatives are included in gains or losses on sales of loans. The fair value of these derivative instruments was not significant at December 31, 201 7 and 201 6 . Servicing assets are reported in other assets and amortized in proportion to and over the period during which estimated servicing income will be received. Servicing loans for others consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors, and processing foreclosures. Loan servicing income is recorded when earned and represents servicing fees from investors and certain charges collected from borrowers, such as late payment fees. The Company has fiduciary responsibility for related escrow and custodial funds. Servicing assets are recognized as separate assets when rights are acquired through the sale of financial assets. For sales of mortgage loans originated by the Company, a portion of the cost of originating the loan is allocated to the servicing retained right based on fair value. Capitalized servicing rights are amortized into interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. Remaining servicing rights are charged against income upon payoff of the loan. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal and are recorded as income when earned. |
Loans Held-For-Sale | LOANS HELD-FOR-SALE Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Unrealized gains are recognized but only to the extent of previous write-downs. |
Automobile Leasing | AUTOMOBILE LEASING Financing of automobiles, provided to customers under lease arrangements of varying terms, are accounted for as direct finance leases. Interest on automobile direct finance leasing is determined using the interest method. Generally, the interest method is used to arrive at a level effective yield over the life of the lease. |
Allowance For Loan Losses | ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is established through a provision for loan losses. The allowance represents an amount which, in management’s judgment, will be adequate to absorb losses on existing loans that may become uncollectible. Management’s judgment in determining the adequacy of the allowance is based on evaluations of the collectability of the loans. These evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, current economic conditions that may affect the borrower’s ability to pay, collateral value, overall portfolio quality and review of specific loans for impairment. Management applies two primary components during the estimation process to determine proper allowance levels; a specific loan loss allocation for loans that are deemed impaired and a general loan loss allocation for those loans not specifically allocated based on historical charge-off history and qualitative factor adjustments for trends or changes in the loan portfolio. Delinquencies, changes in lending policies and local economic conditions are some of the items used for the qualitative factor adjustments. Loans considered uncollectible are charged against the allowance. Recoveries on loans previously charged off are added to the allowance. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments in accordance with the contractual terms of the loan. Factors considered in determining impairment include payment status, collateral value and the probability of collecting payments when due. The significance of payment delays and/or shortfalls is determined on a case by case basis. All circumstances surrounding the loan are taken into account. Such factors include the length of the delinquency, the underlying reasons and the borrower’s prior payment record. Impairment is measured on these loans on a loan-by-loan basis. Impaired loans include non-accrual loans, TDRs and other loans deemed to be impaired based on the aforementioned factors. The risk characteristics of each of the identified portfolio segments are as follows: Commercial and industrial loans (C&I): C&I l oans are primarily based on the identified historic and/or the projected cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of the borrower, however, do fluctuate based on changes in the Company’s internal and external environment including management, human and capital resources, economic conditions, competition and regulation. Most C&I loans are secured by business assets being financed such as equipment, accounts receivable, and/or inventory and generally incorporate a secured or unsecured personal guarantee. Unsecured loans may be made on a short-term basis. The ability of the borrower to collect amounts due from its customers may be affected by its customers’ economic and financial condition. Commercial real estate loans (CRE) : Commercial real estate loans are made to finance the purchase of real estate, refinance existing obligations and/or to provide capital. These commercial real estate loans are generally secured by first lien security interests in the real estate as well as assignment of leases and rents. The real estate may include apartments, hotels, retail stores or plazas and healthcare facilities whether they are owner or non-owner occupied. These loans are typically originated in amounts of no more than 80% of the appraised value of the property. Consumer loans: The Company offers home equity installment loans and lines of credit. Risks associated with loans secured by residential properties are generally lower than commercial real estate loans and include general economic risks, such as the strength of the job market, employment stability and the strength of the housing market. Since most loans are secured by a primary or secondary residence, the borrower’s continued employment is considered the greatest risk to repayment. The Company also offers a variety of loans to individuals for personal and household purposes. These loans are generally considered to have greater risk than mortgages on real estate because they may be unsecured, or if they are secured, the value of the collateral may be difficult to assess and more likely to decrease in value than real estate. Residential mortgage loans: Residential mortgages are secured by a first lien position of the borrower’s residential real estate. These loans have varying loan rates depending on the financial condition of the borrower and the loan to value ratio. Since most loans are secured by a primary or secondary residence, the borrower’s continued employment is considered the greatest risk to repayment. Residential mortgages have terms up to thirty years with amortizations varying from 10 to 30 years. The majority of the loans are underwritten according to FNMA and/or FHLB standards. |
Transfer Of Financial Assets | TRANSFER OF FINANCIAL ASSETS Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: the assets have been isolated from the Company—put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership; the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets, other than through a cleanup call. |
Loan Fees And Costs | LOAN FEES AND COSTS Nonrefundable loan origination fees and certain direct loan origination costs are recognized as a component of interest income over the life of the related loans as an adjustment to yield. The unamortized balance of the deferred fees and costs are included as components of the loan balances to which they relate. |
Bank Premises And Equipment | BANK PREMISES AND EQUIPMENT Land is carried at cost. Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the improved property. Rent expense is recognized on the straight-line method over the term of the lease. |
Bank Owned Life Insurance | BANK OWNED LIFE INSURANCE The Company maintains bank owned life insurance (BOLI) for a selected group of employees , namely its officers where the Company is the owner and sole beneficiary of the policies. The earnings from the BOLI are recognized as a component of other income in the consolidated statements of income. The BOLI is an asset that can be liquidated, if necessary, with tax consequences. However, the Company intends to hold these policies and, accordingly, the Company has not provided for deferred income taxes on the earnings from the increase in the cash surrender value. |
Employee Benefits | EMPLOYEE BENEFITS The Company holds separate supplemental executive retirement (SERP) agreements for certain officers and an amount is credited to each participant’s SERP account monthly while they are actively employed by the bank until retirement. A deferred tax asset is provided for the non-deductible SERP expense. The Company also entered into separate split dollar life insurance arrangements with three executives providing post-retirement benefits and accrues monthly expense for this benefit. Monthly expenses for the SERP and post-retirement split dollar life benefit are recorded as components of salaries and employee benefit expense on the consolidated statements of income. |
Foreclosed Assets Held-For-Sale | FORECLOSED ASSETS HELD-FOR-SALE Foreclosed assets held-for-sale are carried at the lower of cost or fair value less cost to sell. Foreclosed assets held-for-sale is primarily other real estate owned, but also includes other repossessed assets. Losses from the acquisition of property in full and partial satisfaction of debt are treated as credit losses. Routine holding costs, gains and losses from sales, write-downs for subsequent declines in value and any rental income received are recognized net, as a component of other real estate owned expense in the consolidated statements of income. Gains or losses are recorded when the properties are sold. |
Impairment Of Long-Lived Assets | IMPAIRMENT OF LONG-LIVED ASSETS Long-lived assets, including bank premises and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If impairment is indicated by that review, the asset is written down to its estimated fair value through a charge to non-interest expense. |
Goodwill | GOODWILL Goodwill is recorded on the consolidated balance sheets as the excess of liabilities assumed over identifiable assets acquired on the acquisition date. Goodwill is recorded at its net carrying value which represents estimated fair value. The goodwill is deductible for tax purposes over a 15 year period. Goodwill is reviewed for impairment annually as of November 30 and between annual tests when events and circumstances indicate that impairment may have occurred. Goodwill impairment exists when the carrying amount of a reporting unit exceeds its fair value. A qualitative test can be performed to determine whether it is more likely than not that the fair value of the Company is less than its carrying amount, including goodwill . In this qualitative assessment, the Company evaluates events and circumstances which include general banking industry conditions and trends, the overall financial performance of the Company, the performance of the Company’s common stock and key financial performance metrics of the Company. If the qualitative review indicates that it is not more likely than not that the carrying value exceeds its fair value, no further evaluation needs to be performed. If the results of the qualitative review indicate it is more likely than not that the fair value is less than the carrying value, then the Company performs a quantitative impairment test. During 2017, the Company determined it is not more likely than not that the carrying value exceeds its carrying value therefore no quantitative analysis was necessary. |
Stock Plans | STOCK PLANS The Company has two stock-based compensation plans. The Company accounts for these plans under the recognition and measurement accounting principles, which requires the cost of share-based payment transactions be recognized in the financial statements. The stock-based compensation accounting guidance requires that compensation cost for stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. Compensation cost is recognized on a straight-line basis over the requisite service period. When granting stock options, the Company uses the Black-Sholes option pricing model to determine their estimated fair value on the date of grant. When granting stock-settled stock appreciation rights (SSARs), the Company uses Black-Scholes-Merton valuation model to determine fair value on the date of grant. |
Trust And Financial Service Fees | TRUST AND FINANCIAL SERVICE FEES Trust and financial service fees are recorded on the cash basis, which is not materially different from the accrual basis. |
Advertising Costs | ADVERTISING COSTS Advertising costs are charged to expense as incurred. |
Legal And Professional Expenses | LEGAL AND PROFESSIONAL EXPENSES Generally, the Company recognizes legal and professional fees as incurred and are included as a component of professional services expense in the consolidated statements of income. Legal costs incurred that are associated with the collection of outstanding amounts due from delinquent borrowers are included as a component of loan collection expense in the consolidated statements of income. In the event of litigation proceedings brought about by an employee or third party against the Company, expenses for damages will be accrued if the likelihood of the outcome against the Company is probable, the amount can be reasonably estimated and the amount would have a material impact on the financial results of the Company. |
Income Taxes | INCOME TAXES Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. The benefit of a tax position is recognized on the financial statements in the period during which, based on all available evidence, management believes it is more-likely-than-not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. For tax positions not meeting the more likely than not threshold, no tax benefit is recorded. Under the more likely than not threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. The Company had no material unrecognized tax benefits or accrued interest and penalties for the years ended December 31, 201 7 , 201 6 or 201 5 , respectively. |
Comprehensive Income (Loss) | COMPREHENSIVE INCOME (LOSS) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income (loss). |
Cash Flows | CASH FLOWS For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. Expenditures for construction in process, a component of other assets in the consolidated balance sheets, are included in acquisition of premises and equipment. |
Reclassification Adjustments | RECLASSIFICATION ADJUSTMENTS Certain reclassifications have been made to the 201 5 and 201 6 financial statements to conform to the 201 7 presentation with no impact on total equity or net income. |
Accumulated Other Comprehensi32
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accumulated Other Comprehensive Income [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income | As of and for the year ended December 31, 2017 Unrealized gains (losses) on available-for-sale (dollars in thousands) securities Total Beginning balance $ 1,381 $ 1,381 Other comprehensive income before reclassifications, net of tax 29 29 Amounts reclassified from accumulated other comprehensive income, net of tax 97 97 Effect of adopting ASU 2018-02* 297 297 Net current-period other comprehensive income 423 423 Ending balance $ 1,804 $ 1,804 *The Company elected to reclassify from accumulated other comprehensive income to retained earnings stranded tax effects resulting from the Tax Cuts and Jobs Act at the end of 2017 according to ASU 2018-02 . These stranded tax effects were related to the adjustment made to retained earnings at the end of 2017 to re-measure the deferred tax liability for unrealized gains on available for sale securities at the new tax rate effective January 1, 2018. As of and for the year ended December 31, 2016 Unrealized gains (losses) on available-for-sale (dollars in thousands) securities Total Beginning balance $ 2,188 $ 2,188 Other comprehensive loss before reclassifications, net of tax (801) (801) Amounts reclassified from accumulated other comprehensive income, net of tax (6) (6) Net current-period other comprehensive loss (807) (807) Ending balance $ 1,381 $ 1,381 As of and for the year ended December 31, 2015 Unrealized gains (losses) on available-for-sale (dollars in thousands) securities Total Beginning balance $ 2,743 $ 2,743 Other comprehensive loss before reclassifications, net of tax (502) (502) Amounts reclassified from accumulated other comprehensive income, net of tax (53) (53) Net current-period other comprehensive loss (555) (555) Ending balance $ 2,188 $ 2,188 |
Schedule Of Reclassification From Accumulated Other Comprehensive Income | Details about accumulated other comprehensive income components Amount reclassified from accumulated Affected line item in the statement (dollars in thousands) other comprehensive income where net income is presented Years ended December 31, 2017 2016 2015 Unrealized (losses) gains on AFS securities $ (147) $ 9 $ 80 (Loss) gain on sale of investment securities Income tax effect 50 (3) (27) Provision for income taxes Total reclassifications for the period $ (97) $ 6 $ 53 Net income |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investment Securities [Abstract] | |
Amortized Cost And Fair Value Of Investment Securities | Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value December 31, 2017 Available-for-sale securities: Agency - GSE $ 9,120 $ 3 $ (24) $ 9,099 Obligations of states and political subdivisions 42,300 2,036 (30) 44,306 MBS - GSE residential 103,386 519 (753) 103,152 Total debt securities 154,806 2,558 (807) 156,557 Equity securities - financial services 294 534 - 828 Total available-for-sale securities $ 155,100 $ 3,092 $ (807) $ 157,385 Gross Gross Amortized unrealized unrealized Fair (dollars in thousands) cost gains losses value December 31, 2016 Available-for-sale securities: Agency - GSE $ 18,362 $ 58 $ (144) $ 18,276 Obligations of states and political subdivisions 38,648 1,803 (260) 40,191 MBS - GSE residential 70,639 851 (553) 70,937 Total debt securities 127,649 2,712 (957) 129,404 Equity securities - financial services 294 339 - 633 Total available-for-sale securities $ 127,943 $ 3,051 $ (957) $ 130,037 |
Investments Classified By Contractual Maturity Date | Amortized Fair (dollars in thousands) cost value Available-for-sale securities: Debt securities: Due in one year or less $ 5,006 $ 4,997 Due after one year through five years 4,943 5,023 Due after five years through ten years 2,549 2,611 Due after ten years 38,922 40,774 MBS - GSE residential 103,386 103,152 Total available-for-sale debt securities $ 154,806 $ 156,557 |
Schedule Of Realized Gain (Loss) | December 31, (dollars in thousands) 2017 2016 2015 Gross realized gain $ - $ 16 $ 137 Gross realized loss (147) (7) (57) Net gain $ (147) $ 9 $ 80 |
Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value | Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) value losses value losses value losses December 31, 2017 Agency - GSE $ 6,020 $ (14) $ 1,008 $ (10) $ 7,028 $ (24) Obligations of states and political subdivisions 425 (1) 2,109 (29) 2,534 (30) MBS - GSE residential 61,349 (437) 15,309 (316) 76,658 (753) Total $ 67,794 $ (452) $ 18,426 $ (355) $ 86,220 $ (807) Number of securities 45 14 59 December 31, 2016 Agency - GSE $ 6,032 $ (144) $ - $ - $ 6,032 $ (144) Obligations of states and political subdivisions 8,690 (260) - - 8,690 (260) MBS - GSE residential 41,111 (553) - - 41,111 (553) Total $ 55,833 $ (957) $ - $ - $ 55,833 $ (957) Number of securities 48 - 48 |
Loans And Leases (Tables)
Loans And Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Loans And Leases [Abstract] | |
Loan Classifications | (dollars in thousands) 2017 2016 Commercial and industrial $ 113,601 $ 98,477 Commercial real estate: Non-owner occupied 92,851 87,220 Owner occupied 109,383 113,104 Construction 6,228 3,987 Consumer: Home equity installment 27,317 28,466 Home equity line of credit 53,273 51,609 Auto loans and leases 83,510 56,841 Other 5,604 13,301 Residential: Real estate 136,901 134,475 Construction 9,931 10,496 Total 638,599 597,976 Less: Allowance for loan losses (9,193) (9,364) Unearned lease revenue (639) (482) Loans and leases, net $ 628,767 $ 588,130 |
Non-Accrual Loans, Segregated By Class | (dollars in thousands) 2017 2016 Commercial and industrial $ 36 $ 11 Commercial real estate: Non-owner occupied 649 1,407 Owner occupied 942 3,078 Construction 161 193 Consumer: Home equity installment 15 31 Home equity line of credit 559 737 Auto loans and leases 5 25 Other - 6 Residential: Real estate 1,074 1,882 Total $ 3,441 $ 7,370 |
Information Related To Loans Modified In Troubled Debt Restructuring, By Class | The following presents by class, information related to loans modified in a TDR: Loans modified as TDRs for the twelve months ended: (dollars in thousands) December 31, 2017 December 31, 2016 Recorded Increase in Recorded Increase in Number investment allowance Number investment allowance of (as of (as of of (as of (as of contracts period end) period end) contracts period end) period end) Commercial real estate - non-owner occupied 1 $ 118 $ 7 - $ - $ - Commercial real estate - owner occupied 5 924 332 - - - Consumer home equity line of credit - - - 1 650 167 Residential real estate - - - 1 881 177 Total 6 $ 1,042 $ 339 2 $ 1,531 $ 344 In the above table, the period end balance is inclusive of all partial pay downs and charge-offs since the modification date. For all loans modified in a TDR, the pre-modification recorded investment was the same as the post-modification recorded investment. The following presents by class, loans modified as a TDR that subsequently defaulted (i.e. 90 days or more past due following a modification) during the periods indicated: Loans modified as a TDR within the previous twelve months that subsequently defaulted during the twelve months ended: (dollars in thousands) December 31, 2017 December 31, 2016 Number of Recorded Number of Recorded contracts investment contracts investment Consumer home equity line of credit - $ - 1 $ 650 In the above table, the period end balances are inclusive of all partial pay downs and charge-offs since the modification date. |
Past Due Loans | Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days December 31, 2017 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial $ 286 $ - $ 36 $ 322 $ 113,279 $ 113,601 $ - Commercial real estate: Non-owner occupied 51 1,018 649 1,718 91,133 92,851 - Owner occupied 52 85 942 1,079 108,304 109,383 - Construction - - 161 161 6,067 6,228 - Consumer: Home equity installment 130 30 15 175 27,142 27,317 - Home equity line of credit 276 - 559 835 52,438 53,273 - Auto loans and leases 449 85 11 545 82,326 82,871 (2) 6 Other 42 - - 42 5,562 5,604 - Residential: Real estate 38 351 1,074 1,463 135,438 136,901 - Construction - - - - 9,931 9,931 - Total $ 1,324 $ 1,569 $ 3,447 $ 6,340 $ 631,620 $ 637,960 $ 6 (1) Includes $ 3 .4 million of non-accrual loans. (2) Net of unearned lease revenue of $0. 6 million. (3) Includes net deferred loan costs of $2.1 million . Recorded Past due investment past 30 - 59 Days 60 - 89 Days 90 days Total Total due ≥ 90 days December 31, 2016 past due past due or more (1) past due Current loans (3) and accruing Commercial and industrial $ 208 $ - $ 11 $ 219 $ 98,258 $ 98,477 $ - Commercial real estate: Non-owner occupied 180 - 1,407 1,587 85,633 87,220 - Owner occupied 13 776 3,078 3,867 109,237 113,104 - Construction - - 193 193 3,794 3,987 - Consumer: Home equity installment 213 25 31 269 28,197 28,466 - Home equity line of credit - - 737 737 50,872 51,609 - Auto loans and leases 293 59 44 396 55,963 56,359 (2) 19 Other 37 2 6 45 13,256 13,301 - Residential: Real estate 14 421 1,882 2,317 132,158 134,475 - Construction - - - - 10,496 10,496 - Total $ 958 $ 1,283 $ 7,389 $ 9,630 $ 587,864 $ 597,494 $ 19 (1) Includes $ 7.4 million of non-accrual loans. (2) Net of unearned lease revenue of $0. 5 million. (3) Includes net deferred loan costs of $1. 8 million. |
Impaired Loans | Impaired loans, segregated by class, as of the period indicated are detailed below: Recorded Recorded Unpaid investment investment Total principal with with no recorded Related (dollars in thousands) balance allowance allowance investment allowance December 31, 2017 Commercial and industrial $ 281 $ 225 $ 24 $ 249 $ 196 Commercial real estate: Non-owner occupied 2,426 1,975 363 2,338 488 Owner occupied 2,742 1,768 725 2,493 433 Construction 384 - 161 161 - Consumer: Home equity installment 48 - 15 15 - Home equity line of credit 878 32 527 559 25 Auto loans and leases 13 - 5 5 - Other - - - - - Residential: Real estate 1,350 131 943 1,074 37 Construction - - - - - Total $ 8,122 $ 4,131 $ 2,763 $ 6,894 $ 1,179 Recorded Recorded Unpaid investment investment Total principal with with no recorded Related (dollars in thousands) balance allowance allowance investment allowance December 31, 2016 Commercial and industrial $ 235 $ 206 $ 29 $ 235 $ 193 Commercial real estate: Non-owner occupied 3,346 2,611 405 3,016 993 Owner occupied 5,363 4,351 876 5,227 1,389 Construction 416 - 193 193 - Consumer: Home equity installment 64 - 31 31 - Home equity line of credit 778 650 87 737 167 Auto 25 25 - 25 3 Other 6 6 - 6 1 Residential: Real estate 1,949 1,466 416 1,882 315 Construction - - - - - Total $ 12,182 $ 9,315 $ 2,037 $ 11,352 $ 3,061 The following table presents the average recorded investments in impaired loans and related amount of interest income recognized during the periods indicated below. The average balances are calculated based on the quarter-end balances of impaired loans. Payments received from non-accruing impaired loans are first applied against the outstanding principal balance, then to the recovery of any charged-off amounts. Any excess is treated as a recovery of interest income. Payments received from accruing impaired loans are applied to principal and interest, as contractually agreed upon. December 31, 2017 December 31, 2016 Cash basis Cash basis Average Interest interest Average Interest interest recorded income income recorded income income (dollars in thousands) investment recognized recognized investment recognized recognized Commercial and industrial $ 231 $ 10 $ - $ 434 $ 51 $ - Commercial real estate: Non-owner occupied 2,907 140 - 4,230 176 - Owner occupied 3,832 245 - 3,088 129 - Construction 176 - - 209 - - Consumer: Home equity installment 15 - - 78 3 - Home equity line of credit 682 5 - 816 28 - Auto 15 4 - 30 - - Other 2 1 - 6 - - Residential: Real estate 1,473 77 - 628 15 - Construction - - - - - - Total $ 9,333 $ 482 $ - $ 9,519 $ 402 $ - |
Credit Quality Indicator Loan Categories | Commercial credit exposure Credit risk profile by creditworthiness category December 31, 2017 (dollars in thousands) Pass Special mention Substandard Doubtful Total Commercial and industrial $ 112,398 $ 509 $ 694 $ - $ 113,601 Commercial real estate - non-owner occupied 84,892 998 6,961 - 92,851 Commercial real estate - owner occupied 103,426 2,479 3,478 - 109,383 Commercial real estate - construction 6,067 - 161 - 6,228 Total commercial $ 306,783 $ 3,986 $ 11,294 $ - $ 322,063 Consumer & Mortgage lending credit exposure Credit risk profile based on payment activity December 31, 2017 (dollars in thousands) Performing Non-performing Total Consumer Home equity installment $ 27,302 $ 15 $ 27,317 Home equity line of credit 52,714 559 53,273 Auto loans and leases (1) 82,860 11 82,871 Other 5,604 - 5,604 Total consumer $ 168,480 $ 585 $ 169,065 Residential Real estate $ 135,827 $ 1,074 $ 136,901 Construction 9,931 - 9,931 Total residential $ 145,758 $ 1,074 $ 146,832 Total consumer & residential $ 314,238 $ 1,659 $ 315,897 (1) Net of unearned lease revenue of $0. 6 million. Commercial credit exposure Credit risk profile by creditworthiness category December 31, 2016 (dollars in thousands) Pass Special mention Substandard Doubtful Total Commercial and industrial $ 97,308 $ 479 $ 690 $ - $ 98,477 Commercial real estate - non-owner occupied 83,962 1,811 7,591 - 93,364 Commercial real estate - owner occupied 99,981 1,075 5,904 - 106,960 Commercial real estate - construction 3,794 - 193 - 3,987 Total commercial $ 285,045 $ 3,365 $ 14,378 $ - $ 302,788 Consumer & Mortgage lending credit exposure Credit risk profile based on payment activity December 31, 2016 (dollars in thousands) Performing Non-performing Total Consumer Home equity installment $ 28,435 $ 31 $ 28,466 Home equity line of credit 50,872 737 51,609 Auto loans and leases (2) 56,315 44 56,359 Other 13,295 6 13,301 Total consumer $ 148,917 $ 818 $ 149,735 Residential Real estate $ 132,593 $ 1,882 $ 134,475 Construction 10,496 - 10,496 Total residential $ 143,089 $ 1,882 $ 144,971 Total consumer & residential $ 292,006 $ 2,700 $ 294,706 (2) Net of unearned lease revenue of $0. 5 million. |
Schedule Of Change In Allowance For Loan Losses And The Recorded Investment In Loans | As of and for the year ended December 31, 2017 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 1,075 $ 4,706 $ 1,834 $ 1,622 $ 127 $ 9,364 Charge-offs (143) (635) (658) (309) - (1,745) Recoveries 10 47 67 - - 124 Provision 432 (58) 820 295 (39) 1,450 Ending balance $ 1,374 $ 4,060 $ 2,063 $ 1,608 $ 88 $ 9,193 Ending balance: individually evaluated for impairment $ 196 $ 921 $ 25 $ 37 $ - $ 1,179 Ending balance: collectively evaluated for impairment $ 1,178 $ 3,139 $ 2,038 $ 1,571 $ 88 $ 8,014 Loans Receivables: Ending balance (2) $ 113,601 $ 208,462 $ 169,065 (1) $ 146,832 $ - $ 637,960 Ending balance: individually evaluated for impairment $ 249 $ 4,992 $ 579 $ 1,074 $ - $ 6,894 Ending balance: collectively evaluated for impairment $ 113,352 $ 203,470 $ 168,486 $ 145,758 $ - $ 631,066 (1) Net of unearned lease revenue of $0.6 million. (2) Includes $2.1 million of net deferred loan costs. As of and for the year ended December 31, 2016 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 1,336 $ 5,014 $ 1,533 $ 1,407 $ 237 $ 9,527 Charge-offs (224) (592) (504) (60) - (1,380) Recoveries 55 37 100 - - 192 Provision (92) 247 705 275 (110) 1,025 Ending balance $ 1,075 $ 4,706 $ 1,834 $ 1,622 $ 127 $ 9,364 Ending balance: individually evaluated for impairment $ 193 $ 2,382 $ 171 $ 315 $ - $ 3,061 Ending balance: collectively evaluated for impairment $ 882 $ 2,324 $ 1,663 $ 1,307 $ 127 $ 6,303 Loans Receivables: Ending balance (2) $ 98,477 $ 204,311 $ 149,735 (1) $ 144,971 $ - $ 597,494 Ending balance: individually evaluated for impairment $ 235 $ 8,436 $ 799 $ 1,882 $ - $ 11,352 Ending balance: collectively evaluated for impairment $ 98,242 $ 195,875 $ 148,936 $ 143,089 $ - $ 586,142 (1) Net of unearned lease revenue of $0.5 million. (2) Includes $1.8 million of net deferred loan costs. As of and for the year ended December 31, 2015 Commercial & Commercial Residential (dollars in thousands) industrial real estate Consumer real estate Unallocated Total Allowance for Loan Losses: Beginning balance $ 1,052 $ 4,672 $ 1,519 $ 1,316 $ 614 $ 9,173 Charge-offs (25) (432) (437) (15) - (909) Recoveries 47 18 95 28 - 188 Provision 262 756 356 78 (377) 1,075 Ending balance $ 1,336 $ 5,014 $ 1,533 $ 1,407 $ 237 $ 9,527 |
Bank Premises And Equipment (Ta
Bank Premises And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Bank Premises And Equipment [Abstract] | |
Components Of Bank Premises And Equipment | As of December 31, (dollars in thousands) 2017 2016 Land $ 2,865 $ 2,865 Bank premises 13,981 13,703 Furniture, fixtures and equipment 10,413 10,257 Leasehold improvements 5,187 5,996 Total 32,446 32,821 Less accumulated depreciation and amortization (15,870) (15,657) Bank premises and equipment, net $ 16,576 $ 17,164 |
Future Minimum Lease Payments | (dollars in thousands) Amount 2018 $ 261 2019 293 2020 291 2021 296 2022 300 2023 and thereafter 5,881 Total $ 7,322 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Deposits [Abstract] | |
Schedule Of Certificates Of Deposits By Year Of Maturity | (dollars in thousands) Amount Percent 2018 $ 54,189 50.6 % 2019 31,449 29.4 2020 15,011 14.0 2021 3,135 2.9 2022 2,892 2.7 2023 and thereafter 390 0.4 Total $ 107,066 100.0 % |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Short-Term Borrowings [Abstract] | |
Schedule Of Components Of Short-Term Debt | As of December 31, (dollars in thousands) 2017 2016 Overnight borrowings $ 7,455 $ - Securities sold under repurchase agreements 11,047 4,223 Total $ 18,502 $ 4,223 |
Schedule Of Short-Term Debt | Maximum Weighted- outstanding average at any Average rate during Rate at (dollars in thousands) month end outstanding the year year-end December 31, 2017 Overnight borrowings $ 46,737 $ 18,399 1.09 % 1.56 % Repurchase agreements 17,179 10,274 0.20 0.18 Total $ 63,916 $ 28,673 December 31, 2016 Overnight borrowings $ 17,862 $ 2,805 0.65 % - % Repurchase agreements 18,765 10,239 0.19 0.13 Total $ 36,627 $ 13,044 December 31, 2015 Overnight borrowings $ 27,236 $ 4,823 0.39 % 0.48 % Repurchase agreements 20,684 10,268 0.17 0.15 Total $ 47,920 $ 15,091 |
Stock Plans (Tables)
Stock Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Stock Plans [Abstract] | |
Summary Of Weighted-Average Fair-Value And Vesting Of Restricted Stock Grants | 2017 2016 2015 Weighted- Weighted- Weighted- average average average Shares grant date Shares grant date Shares grant date granted fair value granted fair value granted fair value Director plan 8,400 (2) $ 26.17 8,400 (1) $ 21.60 4,800 (1) $ 21.50 Omnibus plan 4,749 (3) 23.93 4,734 (3) 19.48 4,950 (4) 21.50 Omnibus plan 75 (1) 26.17 75 (1) 21.00 75 (1) 21.67 Omnibus plan - - - - 2,100 (4) 22.83 Total 13,224 $ 25.36 13,209 $ 20.84 11,925 $ 21.73 ( 1 ) Vest after 1 year ( 2 ) Vest after 2 years – 50 % each year (3) Vest after 3 years – 33% each year ( 4 ) Vest after 4 years – 25% each year |
Schedule Of Non-Vested Restricted Stock Units Activity | 2012 Stock incentive plans Director Omnibus Total Weighted- average grant date fair value Non-vested balance at December 31, 2014 9,000 8,805 17,805 $ 15.47 Granted 4,800 7,125 11,925 21.73 Vested (9,000) (2,668) (11,668) 15.39 Non-vested balance at December 31, 2015 4,800 13,262 18,062 $ 19.67 Granted 8,400 4,809 13,209 20.84 Vested (4,800) (4,509) (9,309) 19.79 Non-vested balance at December 31, 2016 8,400 13,562 21,962 $ 20.31 Granted 8,400 4,824 13,224 25.36 Vested (8,400) (6,082) (14,482) 20.47 Non-vested balance at December 31, 2017 8,400 12,304 20,704 $ 23.59 |
Schedule Of SSARs Activity | Awards Weighted-average grant date fair value Weighted-average remaining contractual term (years) Outstanding December 31, 2015 - - - Granted 29,014 $ 3.48 10.0 Exercised - - Forfeited - - Outstanding December 31, 2016 29,014 $ 3.48 9.1 Granted 24,346 5.06 10.0 Exercised - - Forfeited - - Outstanding December 31, 2017 53,360 $ 4.20 8.5 Of the SSARs outstanding at December 31, 2017, 9,668 vested and were exercisable . SSARs vest over a three year period – 33% per year. |
Schedule Of Compensation Cost For Share-Based Payment Arrangements, Allocation Of Share-Based Compensation Costs By Plan | Years ended December 31, (dollars in thousands) 2017 2016 2015 Stock-based compensation expense: Director stock incentive plan $ 116 $ 174 $ 107 Omnibus stock incentive plan 194 141 74 Employee stock purchase plan 23 15 44 Total stock-based compensation expense $ 333 $ 330 $ 225 In addition, both during 201 7 and 2016 the Company accrued $0.2 million in stock-based compensation expense for restricted stock and SSARs to be awarded under the Omnibus Plan. The Company did not accrue stock-based compensation expense during 2015. |
Schedule Of Unrecognized Compensation Cost, Non-Vested Awards | As of (dollars in thousands) December 31, 2017 Unrecognized stock-based compensation expense: Director plan $ 119 Omnibus plan 280 Total unrecognized stock-based compensation expense $ 399 The unrecognized stock-based compensation expense as of December 31, 201 7 will be recognized ratably over the periods ended January 201 9 and January 2020 for the Director Plan and the Omnibus Plan, respectively. |
Summary Of Stock Option Activity | Options Weighted-average exercise price Weighted-average remaining contractual term (years) Outstanding and exercisable, December 31, 2014 28,500 19.13 3.0 Granted - - Exercised (5,250) 19.27 Forfeited - - Outstanding and exercisable, December 31, 2015 23,250 19.09 2.0 Granted - - Exercised (750) 18.50 Forfeited - - Outstanding and exercisable, December 31, 2016 22,500 $ 19.12 1.0 Granted - - Exercised (21,750) 19.14 Forfeited - - Outstanding and exercisable, December 31, 2017 750 $ 18.50 0.2 In the above table, the weighted-average exercise price includes options with exercise prices ranging from $17.37 to $19.27 . |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Schedule Of Deferred Tax Assets And Liabilities | As of December 31, (dollars in thousands) 2017 2016 Deferred tax assets: Allowance for loan losses $ 1,930 $ 3,184 Deferred interest from non-accrual assets 180 425 Other 471 336 Total 2,581 3,945 Deferred tax liabilities: Net unrealized gains on available-for-sale securities (480) (711) Loan fees and costs (1,023) (1,525) Automobile leasing (2,298) (3,263) Depreciation (263) (368) Mortgage loan servicing rights (268) (430) Total (4,332) (6,297) Deferred tax liability, net $ (1,751) $ (2,352) |
Schedule Of Components Of Income Tax Expense Benefit | Years ended December 31, (dollars in thousands) 2017 2016 2015 Current $ 1,872 $ 1,521 $ 173 Deferred (666) 1,248 1,645 Total provision for income taxes $ 1,206 $ 2,769 $ 1,818 |
Schedule Of Effective Income Tax Rate Reconciliation | Years ended December 31, (dollars in thousands) 2017 2016 2015 Expected provision at the statutory rate $ 3,373 $ 3,557 $ 3,033 Tax-exempt income (845) (742) (715) Bank owned life insurance (198) (120) (116) Nondeductible interest expense 19 14 14 Nondeductible other expenses and other, net (59) 60 41 Tax credits - - (439) Tax rate change adjustment (1,084) - - Actual provision for income taxes $ 1,206 $ 2,769 $ 1,818 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Measurements [Abstract] | |
Carrying Amount And Estimated Fair Value By Balance Sheet Grouping | December 31, 2017 Quoted prices Significant Significant in active other other Carrying Estimated markets observable inputs unobservable inputs (dollars in thousands) amount fair value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 15,825 $ 15,825 $ 15,825 $ - $ - Available-for-sale securities 157,385 157,385 828 156,557 - FHLB stock 2,832 2,832 - 2,832 - Loans and leases, net 628,767 625,052 - - 625,052 Loans held-for-sale 2,181 2,221 - 2,221 - Accrued interest receivable 2,786 2,786 - 2,786 - Financial liabilities: Deposits with no stated maturities 623,080 623,080 - 623,080 - Time deposits 107,066 105,758 - 105,758 - Short-term borrowings 18,502 18,502 - 18,502 - FHLB advances 21,204 21,066 - 21,066 - Accrued interest payable 346 346 - 346 - December 31, 2016 Quoted prices Significant Significant in active other other Carrying Estimated markets observable inputs unobservable inputs (dollars in thousands) amount fair value (Level 1) (Level 2) (Level 3) Financial assets: Cash and cash equivalents $ 25,843 $ 25,843 $ 25,843 $ - $ - Available-for-sale securities 130,037 130,037 633 129,404 - FHLB stock 2,606 2,606 - 2,606 - Loans and leases, net 588,130 590,688 - - 590,688 Loans held-for-sale 2,854 2,907 - 2,907 - Accrued interest receivable 2,246 2,246 - 2,246 - Financial liabilities: Deposits with no stated maturities 610,706 610,706 - 610,706 - Time deposits 92,753 91,969 - 91,969 - Short-term borrowings 4,223 4,223 - 4,223 - Accrued interest payable 181 181 - 181 - |
Financial Instruments Measured At Fair Value On Recurring Basis | Quoted prices in active Significant other Significant other Total carrying value markets observable inputs unobservable inputs (dollars in thousands) December 31, 2017 (Level 1) (Level 2) (Level 3) Available-for-sale securities: Agency - GSE $ 9,099 $ - $ 9,099 $ - Obligations of states and political subdivisions 44,306 - 44,306 - MBS - GSE residential 103,152 - 103,152 - Equity securities - financial services 828 828 - - Total available-for-sale securities $ 157,385 $ 828 $ 156,557 $ - Quoted prices in active Significant other Significant other Total carrying value markets observable inputs unobservable inputs (dollars in thousands) December 31, 2016 (Level 1) (Level 2) (Level 3) Available-for-sale securities: Agency - GSE $ 18,276 $ - $ 18,276 $ - Obligations of states and political subdivisions 40,191 - 40,191 - MBS - GSE residential 70,937 - 70,937 - Equity securities - financial services 633 633 - - Total available-for-sale securities $ 130,037 $ 633 $ 129,404 $ - |
Fair Value Measurements At Fair Value Segregated By Hierarchy Fair Value Levels | Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) at December 31, 2017 (Level 1) (Level 2) (Level 3) Impaired loans $ 2,952 $ - $ - $ 2,952 Other real estate owned 814 - - 814 Total $ 3,766 $ - $ - $ 3,766 Quoted prices in Significant other Significant other Total carrying value active markets observable inputs unobservable inputs (dollars in thousands) at December 31, 2016 (Level 1) (Level 2) (Level 3) Impaired loans $ 6,254 $ - $ - $ 6,254 Other real estate owned 872 - - 872 Total $ 7,126 $ - $ - $ 7,126 |
Schedule Of Fair Value, Off-Balance Sheet Risks | December 31, (dollars in thousands) 2017 2016 Off-balance sheet financial instruments: Commitments to extend credit $ 136,398 $ 128,543 Standby letters of credit 4,488 7,645 |
Supply Commitment | More than Less than one year to Over five (dollars in thousands) one year five years years Total Secured by: Collateral $ 3,251 $ 25 $ 360 $ 3,636 Bank lines of credit 121 - - 121 3,372 25 360 3,757 Unsecured 731 - - 731 Total $ 4,103 $ 25 $ 360 $ 4,488 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule Of Earnings Per Share, Basic And Diluted | Years ended December 31, 2017 2016 2015 (dollars in thousands except per share data) Basic EPS: Net income available to common shareholders $ 8,716 $ 7,693 $ 7,103 Weighted-average common shares outstanding 3,711,490 3,679,507 3,658,687 Basic EPS $ 2.35 $ 2.09 $ 1.94 Diluted EPS: Net income available to common shareholders $ 8,716 $ 7,693 $ 7,103 Weighted-average common shares outstanding 3,711,490 3,679,507 3,658,687 Potentially dilutive common shares 23,919 11,083 11,137 Weighted-average common and potentially dilutive shares outstanding 3,735,409 3,690,590 3,669,824 Diluted EPS $ 2.33 $ 2.09 $ 1.94 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Matters [Abstract] | |
Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations | For capital adequacy To be well capitalized For capital purposes with capital under prompt corrective Actual adequacy purposes conservation buffer* action provisions (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2017: Total capital (to risk-weighted assets) Consolidated $ 93,204 14.9% ≥ $ 50,028 8.0% ≥ $ 57,845 9.3% N/A N/A Bank $ 93,130 14.9% ≥ $ 50,122 8.0% ≥ $ 57,954 9.3% ≥ $ 62,653 10.0% Tier 1 common equity (to risk-weighted assets) Consolidated $ 85,369 13.7% ≥ $ 28,141 4.5% ≥ $ 35,957 5.8% N/A N/A Bank $ 85,280 13.6% ≥ $ 28,194 4.5% ≥ $ 36,025 5.8% ≥ $ 40,724 6.5% Tier I capital (to risk-weighted assets) Consolidated $ 85,369 13.7% ≥ $ 37,521 6.0% ≥ $ 45,338 7.3% N/A N/A Bank $ 85,280 13.6% ≥ $ 37,592 6.0% ≥ $ 45,423 7.3% ≥ $ 50,122 8.0% Tier I capital (to average assets) Consolidated $ 85,369 9.9% ≥ $ 34,471 4.0% ≥ $ 34,471 4.0% N/A N/A Bank $ 85,280 9.9% ≥ $ 34,483 4.0% ≥ $ 34,483 4.0% ≥ $ 43,103 5.0% As of December 31, 2016: Total capital (to risk-weighted assets) Consolidated $ 86,702 14.9% ≥ $ 46,550 8.0% ≥ $ 50,186 8.6% N/A N/A Bank $ 86,332 14.8% ≥ $ 46,538 8.0% ≥ $ 50,174 8.6% ≥ $ 58,172 10.0% Tier 1 common equity (to risk-weighted assets) Consolidated $ 79,250 13.6% ≥ $ 26,184 4.5% ≥ $ 29,821 5.1% N/A N/A Bank $ 79,033 13.6% ≥ $ 26,178 4.5% ≥ $ 29,813 5.1% ≥ $ 37,812 6.5% Tier I capital (to risk-weighted assets) Consolidated $ 79,250 13.6% ≥ $ 34,912 6.0% ≥ $ 38,549 6.6% N/A N/A Bank $ 79,033 13.6% ≥ $ 34,903 6.0% ≥ $ 38,539 6.6% ≥ $ 46,538 8.0% Tier I capital (to average assets) Consolidated $ 79,250 10.3% ≥ $ 30,717 4.0% ≥ $ 30,717 4.0% N/A N/A Bank $ 79,033 10.3% ≥ $ 30,650 4.0% ≥ $ 30,650 4.0% ≥ $ 38,313 5.0% * The minimums under Basel III increase by 0.625% (the capital conservation buffer) annually until 2019. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Schedule Of Related Party Transactions | Years ended December 31, (dollars in thousands) 2017 2016 2015 Balance, beginning $ 7,849 $ 6,983 $ 4,924 Additions 1,111 2,629 5,672 Collections (2,463) (1,763) (3,613) Balance, ending $ 6,497 $ 7,849 $ 6,983 |
Quarterly Financial Informati44
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information (Unaudited) [Abstract] | |
Schedule Of Quarterly Financial Information | 2017 First Second Third Fourth (dollars in thousands except per share data) quarter quarter quarter quarter Total Interest income $ 7,366 $ 7,854 $ 7,928 $ 7,916 $ 31,064 Interest expense (688) (787) (882) (866) (3,223) Net interest income 6,678 7,067 7,046 7,050 27,841 Provision for loan losses (325) (225) (375) (525) (1,450) Loss on sale of investment securities - - - (147) (147) Other income 2,105 2,131 2,248 2,029 8,513 Other expenses (5,797) (6,051) (6,035) (6,953) (24,836) Income before taxes 2,661 2,922 2,884 1,455 9,922 (Provision) credit for income taxes (681) (739) (658) 872 (1,206) Net income $ 1,980 $ 2,183 $ 2,226 $ 2,327 $ 8,716 Net income per share - basic $ 0.53 $ 0.59 $ 0.60 $ 0.63 $ 2.35 Net income per share - diluted $ 0.53 $ 0.59 $ 0.60 $ 0.61 $ 2.33 2016 First Second Third Fourth (dollars in thousands except per share data) quarter quarter quarter quarter Total Interest income $ 6,736 $ 6,715 $ 7,006 $ 7,038 $ 27,495 Interest expense (598) (574) (585) (601) (2,358) Net interest income 6,138 6,141 6,421 6,437 25,137 Provision for loan losses (150) (275) (225) (375) (1,025) Gain on sale of investment securities - 9 - - 9 Other income 1,687 2,091 2,024 2,194 7,996 Other expenses (5,388) (5,369) (5,409) (5,489) (21,655) Income before taxes 2,287 2,597 2,811 2,767 10,462 Provision for income taxes (586) (669) (776) (738) (2,769) Net income $ 1,701 $ 1,928 $ 2,035 $ 2,029 $ 7,693 Net income per share - basic $ 0.46 $ 0.53 $ 0.55 $ 0.55 $ 2.09 Net income per share - diluted $ 0.46 $ 0.53 $ 0.55 $ 0.55 $ 2.09 2015 First Second Third Fourth (dollars in thousands except per share data) quarter quarter quarter quarter Total Interest income $ 6,304 $ 6,438 $ 6,612 $ 6,660 $ 26,014 Interest expense (697) (647) (580) (605) (2,529) Net interest income 5,607 5,791 6,032 6,055 23,485 Provision for loan losses (150) (150) (200) (575) (1,075) Gain on sale of investment securities 2 16 8 54 80 Other income 1,748 1,817 2,015 1,873 7,453 Other expenses (5,087) (5,744) (5,239) (4,952) (21,022) Income before taxes 2,120 1,730 2,616 2,455 8,921 (Provision) credit for income taxes (547) 50 (687) (634) (1,818) Net income $ 1,573 $ 1,780 $ 1,929 $ 1,821 $ 7,103 Net income per share - basic $ 0.43 $ 0.49 $ 0.53 $ 0.49 $ 1.94 Net income per share - diluted $ 0.43 $ 0.49 $ 0.53 $ 0.49 $ 1.94 |
Parent Company Only (Tables)
Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Parent Company Only [Abstract] | |
Schedule Of Condensed Balance Sheet | Condensed Balance Sheets As of December 31, (dollars in thousands) 2017 2016 Assets: Cash $ 205 $ 141 Investment in subsidiary 86,873 80,192 Securities available-for-sale 828 631 Other assets 45 35 Total $ 87,951 $ 80,999 Liabilities and shareholders' equity: Liabilities $ 568 $ 368 Capital stock and retained earnings 85,579 79,250 Accumulated other comprehensive income 1,804 1,381 Total $ 87,951 $ 80,999 |
Schedule Of Condensed Income Statement | Condensed Income Statements Years ended December 31, (dollars in thousands) 2017 2016 2015 Income: Equity in undistributed earnings of subsidiary $ 6,685 $ 5,289 $ 4,659 Dividends from subsidiary 2,574 2,960 2,844 Other income 22 21 20 Total income 9,281 8,270 7,523 Operating expenses 1,094 864 610 Income before taxes 8,187 7,406 6,913 Credit for income taxes 529 287 190 Net income $ 8,716 $ 7,693 $ 7,103 |
Schedule Of Condensed Comprehensive Income | Statements of Comprehensive Income Years ended December 31, (dollars in thousands) 2017 2016 2015 Bancorp net loss $ (542) $ (556) $ (400) Equity in net income of subsidiary 9,258 8,249 7,503 Net income 8,716 7,693 7,103 Other comprehensive (loss) income, before tax: Unrealized holding gains (losses) on available-for-sale securities 197 86 (49) Tax effect (67) (29) 17 Unrealized gain (loss), net of tax 130 57 (32) Equity in other comprehensive loss of subsidiary (4) (864) (523) Other comprehensive income (loss), net of tax 126 (807) (555) Total comprehensive income, net of tax $ 8,842 $ 6,886 $ 6,548 |
Schedule Of Condensed Cash Flow Statement | Condensed Statements of Cash Flows Years ended December 31, (dollars in thousands) 2017 2016 2015 Cash flows from operating activities: Net income $ 8,716 $ 7,693 $ 7,103 Adjustments to reconcile net income to net cash used in operations: Equity in earnings of subsidiary (9,258) (8,249) (7,503) Stock-based compensation expense 550 519 225 Deferred income tax (69) - - Changes in other assets and liabilities, net (26) (36) (2) Net cash used in operating activities (87) (73) (177) Cash flows provided by investing activities: Dividends received from subsidiary 2,574 2,960 2,844 Net cash provided by investing activities 2,574 2,960 2,844 Cash flows used in financing activities: Dividends paid, net of dividend reinvestment (2,954) (3,061) (2,844) Exercise of stock options 416 14 101 Withholdings to purchase capital stock 126 111 102 Cash paid in lieu of fractional shares (11) - - Net cash used in financing activities (2,423) (2,936) (2,641) Net change in cash 64 (49) 26 Cash, beginning 141 190 164 Cash, ending $ 205 $ 141 $ 190 |
Acquisition (Tables)
Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Acquisition [Abstract] | |
Summary Of Estimated Fair Value Of Assets Acquired And Liabilities Assumed | (dollars in thousands) March 17, 2017 Cash and cash equivalents $ 11,817 Loans 1,574 Bank premises and equipment 264 Goodwill 209 Accrued interest receivable and other assets 4 Total assets acquired $ 13,868 Deposits $ 13,809 Accrued interest payable and other liabilities 59 Total liabilities assumed $ 13,868 |
Nature Of Operations And Summ47
Nature Of Operations And Summary Of Significant Accounting Policies (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($)ShareBasedCompensationPlanemployee | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items] | |||
Held-to-maturity securities | $ 0 | $ 0 | |
Trading securities | $ 0 | 0 | |
Maximum loan-to-value percentage for commercial real estate loan originations | 80.00% | ||
Unrecognized tax benefits | $ 0 | 0 | $ 0 |
Unrecognized tax benefits, accrued interest and penalties | $ 0 | $ 0 | $ 0 |
Number of share based compensation plans | ShareBasedCompensationPlan | 2 | ||
Number of individuals with split dollar life insurance arrangement | employee | 3 | ||
Residential Mortgages [Member] | |||
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items] | |||
Residential mortgage term | 30 years | ||
Minimum [Member] | Residential Mortgages [Member] | |||
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items] | |||
Amortization term length | 10 years | ||
Maximum [Member] | Residential Mortgages [Member] | |||
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Line Items] | |||
Amortization term length | 30 years |
Cash (Narrative) (Details)
Cash (Narrative) (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Cash [Abstract] | ||
Federal Reserve Bank, reserve requirement | $ 1,400,000 | $ 1,300,000 |
FDIC insured amount | $ 250,000 |
Accumulated Other Comprehensi49
Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | $ 1,381 | $ 2,188 | $ 2,743 |
Other comprehensive income before reclassifications, net of tax | 29 | (801) | (502) |
Amounts reclassified from accumulated other comprehensive income, net of tax | 97 | (6) | (53) |
Effect of adopting ASU 2018-02 | 297 | ||
Net current-period other comprehensive income | 423 | (807) | (555) |
Ending balance | 1,804 | 1,381 | 2,188 |
Unrealized Gains (Losses) On Available-For-Sale Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 1,381 | 2,188 | 2,743 |
Other comprehensive income before reclassifications, net of tax | 29 | (801) | (502) |
Amounts reclassified from accumulated other comprehensive income, net of tax | 97 | (6) | (53) |
Effect of adopting ASU 2018-02 | 297 | ||
Net current-period other comprehensive income | 423 | (807) | (555) |
Ending balance | $ 1,804 | $ 1,381 | $ 2,188 |
Accumulated Other Comprehensi50
Accumulated Other Comprehensive Income (Schedule Of Reclassifications From Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||
(Loss) gain on sale of investment | $ (147) | $ 9 | $ 54 | $ 8 | $ 16 | $ 2 | $ (147) | $ 9 | $ 80 | ||||||
Provision for income taxes | 872 | $ (658) | $ (739) | $ (681) | $ (738) | $ (776) | (669) | $ (586) | (634) | (687) | 50 | (547) | (1,206) | (2,769) | (1,818) |
Net income | $ 2,327 | $ 2,226 | $ 2,183 | $ 1,980 | $ 2,029 | $ 2,035 | $ 1,928 | $ 1,701 | $ 1,821 | $ 1,929 | $ 1,780 | $ 1,573 | 8,716 | 7,693 | 7,103 |
Reclassification Out Of Accumulated Other Comprehensive Income [Member] | |||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||
Provision for income taxes | 50 | (3) | (27) | ||||||||||||
Net income | (97) | 6 | 53 | ||||||||||||
Unrealized Gains (Losses) On Available-For-Sale Securities [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member] | |||||||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||
(Loss) gain on sale of investment | $ (147) | $ 9 | $ 80 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - security | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities in unrealized loss position | 59 | 48 |
Number of securities in unrealized loss position, more than 12 months | 14 | |
Agency - GSE [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities in unrealized loss position | 7 | |
Severity of unrealized losses | 0.34% | |
Number of securities in unrealized loss position, more than 12 months | 1 | |
MBS - GSE Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities in unrealized loss position | 47 | |
Severity of unrealized losses | 0.97% | |
Number of securities in unrealized loss position, more than 12 months | 9 | |
Obligation Of States And Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities in unrealized loss position | 5 | |
Severity of unrealized losses | 1.16% | |
Number of securities in unrealized loss position, more than 12 months | 4 |
Investment Securities (Amortize
Investment Securities (Amortized Cost And Fair Value Of Investment Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||
Total Available-for-sale securities, Amortized cost | $ 155,100 | $ 127,943 |
Available-for-sale securities, Gross unrealized gains | 3,092 | 3,051 |
Available-for-sale securities, Gross unrealized losses | (807) | (957) |
Total Available-for-sale securities, Fair value | 157,385 | 130,037 |
Agency - GSE [Member] | ||
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||
Total Available-for-sale securities, Amortized cost | 9,120 | 18,362 |
Available-for-sale securities, Gross unrealized gains | 3 | 58 |
Available-for-sale securities, Gross unrealized losses | (24) | (144) |
Total Available-for-sale securities, Fair value | 9,099 | 18,276 |
Obligation Of States And Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||
Total Available-for-sale securities, Amortized cost | 42,300 | 38,648 |
Available-for-sale securities, Gross unrealized gains | 2,036 | 1,803 |
Available-for-sale securities, Gross unrealized losses | (30) | (260) |
Total Available-for-sale securities, Fair value | 44,306 | 40,191 |
MBS - GSE Residential [Member] | ||
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||
Total Available-for-sale securities, Amortized cost | 103,386 | 70,639 |
Available-for-sale securities, Gross unrealized gains | 519 | 851 |
Available-for-sale securities, Gross unrealized losses | (753) | (553) |
Total Available-for-sale securities, Fair value | 103,152 | 70,937 |
Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||
Total Available-for-sale securities, Amortized cost | 154,806 | 127,649 |
Available-for-sale securities, Gross unrealized gains | 2,558 | 2,712 |
Available-for-sale securities, Gross unrealized losses | (807) | (957) |
Total Available-for-sale securities, Fair value | 156,557 | 129,404 |
Equity Securities - Financial Services [Member] | ||
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||
Total Available-for-sale securities, Amortized cost | 294 | 294 |
Available-for-sale securities, Gross unrealized gains | 534 | 339 |
Total Available-for-sale securities, Fair value | $ 828 | $ 633 |
Investment Securities (Investme
Investment Securities (Investment Classified By Contractual Maturity Date) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Investment Securities [Abstract] | |
Amortized cost: Due in one year or less | $ 5,006 |
Amortized cost: Due after one year through five years | 4,943 |
Amortized cost: Due after five years through ten years | 2,549 |
Amortized cost: Due after ten years | 38,922 |
MBS - GSE residential, Amortized cost | 103,386 |
Total available-for-sale debt securities, Amortized cost | 154,806 |
Fair value: Due in one year or less | 4,997 |
Fair value: Due after one year through five years | 5,023 |
Fair value: Due after five years through ten years | 2,611 |
Fair value: Due after ten years | 40,774 |
MBS - GSE residential, Fair value | 103,152 |
Total available-for-sale debt securities, Fair value | $ 156,557 |
Investment Securities (Schedule
Investment Securities (Schedule Of Realized Gain (Loss)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investment Securities [Abstract] | |||
Gross realized gain | $ 16 | $ 137 | |
Gross realized loss | $ (147) | (7) | (57) |
Net gain | $ (147) | $ 9 | $ 80 |
Investment Securities (Availabl
Investment Securities (Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value) (Details) $ in Thousands | Dec. 31, 2017USD ($)security | Dec. 31, 2016USD ($)security |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Number of securities | security | 45 | 48 |
More than 12 months: Number of securities | security | 14 | |
Total: Number of securities | security | 59 | 48 |
Agency - GSE [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair value | $ 6,020 | $ 6,032 |
Less than 12 months: Unrealized losses | (14) | (144) |
More than 12 months: Fair value | 1,008 | |
More than 12 months: Unrealized losses | (10) | |
Total: Fair value | 7,028 | 6,032 |
Total: Unrealized losses | $ (24) | (144) |
More than 12 months: Number of securities | security | 1 | |
Total: Number of securities | security | 7 | |
Obligation Of States And Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair value | $ 425 | 8,690 |
Less than 12 months: Unrealized losses | (1) | (260) |
More than 12 months: Fair value | 2,109 | |
More than 12 months: Unrealized losses | (29) | |
Total: Fair value | 2,534 | 8,690 |
Total: Unrealized losses | $ (30) | (260) |
More than 12 months: Number of securities | security | 4 | |
Total: Number of securities | security | 5 | |
MBS - GSE Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair value | $ 61,349 | 41,111 |
Less than 12 months: Unrealized losses | (437) | (553) |
More than 12 months: Fair value | 15,309 | |
More than 12 months: Unrealized losses | (316) | |
Total: Fair value | 76,658 | 41,111 |
Total: Unrealized losses | $ (753) | (553) |
More than 12 months: Number of securities | security | 9 | |
Total: Number of securities | security | 47 | |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair value | $ 67,794 | 55,833 |
Less than 12 months: Unrealized losses | (452) | (957) |
More than 12 months: Fair value | 18,426 | |
More than 12 months: Unrealized losses | (355) | |
Total: Fair value | 86,220 | 55,833 |
Total: Unrealized losses | $ (807) | $ (957) |
Loans And Leases (Narrative) (D
Loans And Leases (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)contractloanitem | Dec. 31, 2016USD ($)contractloan | Dec. 31, 2015USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Deferred loan costs | $ 2,100 | $ 1,800 | |
Residual value of leased assets | 9,400 | 7,400 | |
Mortgages serviced | 299,300 | 285,200 | |
Mortgage servicing rights | $ 1,300 | $ 1,300 | |
Number of loans modified as TDR | contract | 6 | 2 | |
Allowance for impaired loans that have been modified in a TDR | $ 400 | $ 700 | |
Average recorded investment | 9,333 | 9,519 | $ 7,600 |
Interest income recognized | 482 | 402 | 198 |
Cash basis interest income recognized | $ 1 | ||
Accruing TDR Balance [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructuring balance | 1,900 | 1,800 | |
Non-Accrual Status [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled Debt Restructuring balance | $ 1,600 | $ 1,500 | |
Number of loans classified as TDRs | loan | 3 | 2 | |
Number of unrelated borrowers that had loans modified in a TDR | item | 3 | ||
Financing receivable, net | $ 3,400 | $ 7,400 | |
Impaired Loan Status [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded investment in financing receivables that are not 90 days or more past due | $ 1,600 | $ 2,200 |
Loans And Leases (Loan Classifi
Loans And Leases (Loan Classifications) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | $ 638,599 | $ 597,976 | |
Less: Allowance for loan losses | (9,193) | (9,364) | $ (9,527) |
Less: Unearned lease revenue | (639) | (482) | |
Loans and leases, net | 628,767 | 588,130 | |
Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 113,601 | 98,477 | |
Less: Allowance for loan losses | (1,374) | (1,075) | $ (1,336) |
Commercial Real Estate: Non-Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 92,851 | 87,220 | |
Commercial Real Estate: Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 109,383 | 113,104 | |
Commercial Real Estate: Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 6,228 | 3,987 | |
Consumer: Home Equity Installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 27,317 | 28,466 | |
Consumer: Home Equity Line Of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 53,273 | 51,609 | |
Consumer: Auto Loans And Leases [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 83,510 | 56,841 | |
Consumer: Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 5,604 | 13,301 | |
Residential: Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 136,901 | 134,475 | |
Residential: Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | $ 9,931 | $ 10,496 |
Loans And Leases (Non-Accrual L
Loans And Leases (Non-Accrual Loans, Segregated By Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $ 3,441 | $ 7,370 |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 36 | 11 |
Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 649 | 1,407 |
Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 942 | 3,078 |
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 161 | 193 |
Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 15 | 31 |
Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 559 | 737 |
Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 5 | 25 |
Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 6 | |
Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $ 1,074 | $ 1,882 |
Loans and Leases (Information R
Loans and Leases (Information Related To Loans Modified In Troubled Debt Restructuring, By Class) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($)contract | Dec. 31, 2016USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | contract | 6 | 2 |
Recorded investment (as of period end) | $ 1,042 | $ 1,531 |
Increase in allowance (as of period end) | $ 339 | $ 344 |
Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | contract | 1 | |
Recorded investment (as of period end) | $ 118 | |
Increase in allowance (as of period end) | $ 7 | |
Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | contract | 5 | |
Recorded investment (as of period end) | $ 924 | |
Increase in allowance (as of period end) | $ 332 | |
Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | contract | 1 | |
Recorded investment (as of period end) | $ 650 | |
Increase in allowance (as of period end) | $ 167 | |
Residential: Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | contract | 1 | |
Recorded investment (as of period end) | $ 881 | |
Increase in allowance (as of period end) | $ 177 |
Loans And Leases (Past Due Loan
Loans And Leases (Past Due Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 6,340 | $ 9,630 |
Current | 631,620 | 587,864 |
Total loans | 637,960 | 597,494 |
Recorded investment past due >=90 days and accruing | 6 | 19 |
Non-accrual loans | 3,441 | 7,370 |
Unearned lease revenue | 639 | 482 |
Deferred loan costs | 2,100 | 1,800 |
30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,324 | 958 |
60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,569 | 1,283 |
Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 3,447 | 7,389 |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 322 | 219 |
Current | 113,279 | 98,258 |
Total loans | 113,601 | 98,477 |
Non-accrual loans | 36 | 11 |
Commercial And Industrial [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 286 | 208 |
Commercial And Industrial [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 36 | 11 |
Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,718 | 1,587 |
Current | 91,133 | 85,633 |
Total loans | 92,851 | 87,220 |
Non-accrual loans | 649 | 1,407 |
Commercial Real Estate: Non-Owner Occupied [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 51 | 180 |
Commercial Real Estate: Non-Owner Occupied [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,018 | |
Commercial Real Estate: Non-Owner Occupied [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 649 | 1,407 |
Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,079 | 3,867 |
Current | 108,304 | 109,237 |
Total loans | 109,383 | 113,104 |
Non-accrual loans | 942 | 3,078 |
Commercial Real Estate: Owner Occupied [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 52 | 13 |
Commercial Real Estate: Owner Occupied [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 85 | 776 |
Commercial Real Estate: Owner Occupied [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 942 | 3,078 |
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 161 | 193 |
Current | 6,067 | 3,794 |
Total loans | 6,228 | 3,987 |
Non-accrual loans | 161 | 193 |
Commercial Real Estate: Construction [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 161 | 193 |
Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 175 | 269 |
Current | 27,142 | 28,197 |
Total loans | 27,317 | 28,466 |
Non-accrual loans | 15 | 31 |
Consumer: Home Equity Installment [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 130 | 213 |
Consumer: Home Equity Installment [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 30 | 25 |
Consumer: Home Equity Installment [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 15 | 31 |
Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 835 | 737 |
Current | 52,438 | 50,872 |
Total loans | 53,273 | 51,609 |
Non-accrual loans | 559 | 737 |
Consumer: Home Equity Line Of Credit [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 276 | |
Consumer: Home Equity Line Of Credit [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 559 | 737 |
Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 545 | 396 |
Current | 82,326 | 55,963 |
Total loans | 82,871 | 56,359 |
Recorded investment past due >=90 days and accruing | 6 | 19 |
Non-accrual loans | 5 | 25 |
Consumer: Auto Loans And Leases [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 449 | 293 |
Consumer: Auto Loans And Leases [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 85 | 59 |
Consumer: Auto Loans And Leases [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 11 | 44 |
Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 42 | 45 |
Current | 5,562 | 13,256 |
Total loans | 5,604 | 13,301 |
Non-accrual loans | 6 | |
Consumer: Other [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 42 | 37 |
Consumer: Other [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 2 | |
Consumer: Other [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 6 | |
Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,463 | 2,317 |
Current | 135,438 | 132,158 |
Total loans | 136,901 | 134,475 |
Non-accrual loans | 1,074 | 1,882 |
Residential: Real Estate [Member] | 30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 38 | 14 |
Residential: Real Estate [Member] | 60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 351 | 421 |
Residential: Real Estate [Member] | Past Due 90 Days Or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,074 | 1,882 |
Residential: Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 9,931 | 10,496 |
Total loans | $ 9,931 | $ 10,496 |
Loans And Leases (Impaired Loan
Loans And Leases (Impaired Loans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | $ 8,122 | $ 12,182 | |
Recorded investment with allowance | 4,131 | 9,315 | |
Recorded investment with no allowance | 2,763 | 2,037 | |
Total recorded investment | 6,894 | 11,352 | |
Related allowance | 1,179 | 3,061 | |
Average recorded investment | 9,333 | 9,519 | $ 7,600 |
Interest income recognized | 482 | 402 | 198 |
Cash basis interest income recognized | $ 1 | ||
Commercial And Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 281 | 235 | |
Recorded investment with allowance | 225 | 206 | |
Recorded investment with no allowance | 24 | 29 | |
Total recorded investment | 249 | 235 | |
Related allowance | 196 | 193 | |
Average recorded investment | 231 | 434 | |
Interest income recognized | 10 | 51 | |
Commercial Real Estate: Non-Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 2,426 | 3,346 | |
Recorded investment with allowance | 1,975 | 2,611 | |
Recorded investment with no allowance | 363 | 405 | |
Total recorded investment | 2,338 | 3,016 | |
Related allowance | 488 | 993 | |
Average recorded investment | 2,907 | 4,230 | |
Interest income recognized | 140 | 176 | |
Commercial Real Estate: Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 2,742 | 5,363 | |
Recorded investment with allowance | 1,768 | 4,351 | |
Recorded investment with no allowance | 725 | 876 | |
Total recorded investment | 2,493 | 5,227 | |
Related allowance | 433 | 1,389 | |
Average recorded investment | 3,832 | 3,088 | |
Interest income recognized | 245 | 129 | |
Commercial Real Estate: Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 384 | 416 | |
Recorded investment with no allowance | 161 | 193 | |
Total recorded investment | 161 | 193 | |
Average recorded investment | 176 | 209 | |
Consumer: Home Equity Installment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 48 | 64 | |
Recorded investment with no allowance | 15 | 31 | |
Total recorded investment | 15 | 31 | |
Average recorded investment | 15 | 78 | |
Interest income recognized | 3 | ||
Consumer: Home Equity Line Of Credit [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 878 | 778 | |
Recorded investment with allowance | 32 | 650 | |
Recorded investment with no allowance | 527 | 87 | |
Total recorded investment | 559 | 737 | |
Related allowance | 25 | 167 | |
Average recorded investment | 682 | 816 | |
Interest income recognized | 5 | 28 | |
Consumer: Auto Loans And Leases [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 13 | 25 | |
Recorded investment with allowance | 25 | ||
Recorded investment with no allowance | 5 | ||
Total recorded investment | 5 | 25 | |
Related allowance | 3 | ||
Average recorded investment | 15 | 30 | |
Interest income recognized | 4 | ||
Consumer: Other [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 6 | ||
Recorded investment with allowance | 6 | ||
Total recorded investment | 6 | ||
Related allowance | 1 | ||
Average recorded investment | 2 | 6 | |
Interest income recognized | 1 | ||
Residential: Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | 1,350 | 1,949 | |
Recorded investment with allowance | 131 | 1,466 | |
Recorded investment with no allowance | 943 | 416 | |
Total recorded investment | 1,074 | 1,882 | |
Related allowance | 37 | 315 | |
Average recorded investment | 1,473 | 628 | |
Interest income recognized | 77 | 15 | |
Residential: Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid principal balance | |||
Recorded investment with allowance | |||
Recorded investment with no allowance | |||
Total recorded investment | |||
Related allowance |
Loans And Leases (Credit Qualit
Loans And Leases (Credit Quality Indicator Loan Categories) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Unearned lease revenue | $ 639 | $ 482 |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 113,601 | 98,477 |
Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 92,851 | 93,364 |
Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 109,383 | 106,960 |
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 6,228 | 3,987 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 322,063 | 302,788 |
Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 27,317 | 28,466 |
Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 53,273 | 51,609 |
Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 82,871 | 56,359 |
Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 5,604 | 13,301 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 169,065 | 149,735 |
Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 136,901 | 134,475 |
Residential: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 9,931 | 10,496 |
Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 146,832 | 144,971 |
Consumer And Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 315,897 | 294,706 |
Pass [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 112,398 | 97,308 |
Pass [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 84,892 | 83,962 |
Pass [Member] | Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 103,426 | 99,981 |
Pass [Member] | Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 6,067 | 3,794 |
Pass [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 306,783 | 285,045 |
Special mention [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 509 | 479 |
Special mention [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 998 | 1,811 |
Special mention [Member] | Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 2,479 | 1,075 |
Special mention [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 3,986 | 3,365 |
Substandard [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 694 | 690 |
Substandard [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 6,961 | 7,591 |
Substandard [Member] | Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 3,478 | 5,904 |
Substandard [Member] | Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 161 | 193 |
Substandard [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 11,294 | 14,378 |
Performing [Member] | Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 27,302 | 28,435 |
Performing [Member] | Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 52,714 | 50,872 |
Performing [Member] | Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 82,860 | 56,315 |
Performing [Member] | Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 5,604 | 13,295 |
Performing [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 168,480 | 148,917 |
Performing [Member] | Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 135,827 | 132,593 |
Performing [Member] | Residential: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 9,931 | 10,496 |
Performing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 145,758 | 143,089 |
Performing [Member] | Consumer And Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 314,238 | 292,006 |
Non-performing [Member] | Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 15 | 31 |
Non-performing [Member] | Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 559 | 737 |
Non-performing [Member] | Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 11 | 44 |
Non-performing [Member] | Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 6 | |
Non-performing [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 585 | 818 |
Non-performing [Member] | Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 1,074 | 1,882 |
Non-performing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 1,074 | 1,882 |
Non-performing [Member] | Consumer And Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $ 1,659 | $ 2,700 |
Loans And Leases (Allowance For
Loans And Leases (Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | $ 9,364 | $ 9,527 | $ 9,364 | $ 9,527 | |||||||||||
Charge-offs | (1,745) | (1,380) | |||||||||||||
Recoveries | 124 | 192 | |||||||||||||
Provisions | $ 525 | $ 375 | $ 225 | 325 | $ 375 | $ 225 | $ 275 | 150 | $ 575 | $ 200 | $ 150 | $ 150 | 1,450 | 1,025 | $ 1,075 |
Allowance for Loan Losses: Ending balance | 9,193 | 9,364 | 9,527 | 9,193 | 9,364 | 9,527 | |||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 1,179 | 3,061 | 1,179 | 3,061 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 8,014 | 6,303 | 8,014 | 6,303 | |||||||||||
Loan Receivables: Ending balance | 637,960 | 597,494 | 637,960 | 597,494 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 6,894 | 11,352 | 6,894 | 11,352 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 631,066 | 586,142 | 631,066 | 586,142 | |||||||||||
Unearned lease revenue | 639 | 482 | 639 | 482 | |||||||||||
Deferred loan costs | 2,100 | 1,800 | 2,100 | 1,800 | |||||||||||
Commercial And Industrial [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 1,075 | 1,336 | 1,075 | 1,336 | |||||||||||
Charge-offs | (143) | (224) | |||||||||||||
Recoveries | 10 | 55 | |||||||||||||
Provisions | 432 | (92) | |||||||||||||
Allowance for Loan Losses: Ending balance | 1,374 | 1,075 | 1,336 | 1,374 | 1,075 | 1,336 | |||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 196 | 193 | 196 | 193 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 1,178 | 882 | 1,178 | 882 | |||||||||||
Loan Receivables: Ending balance | 113,601 | 98,477 | 113,601 | 98,477 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 249 | 235 | 249 | 235 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 113,352 | 98,242 | 113,352 | 98,242 | |||||||||||
Commercial Real Estate [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 4,706 | 5,014 | 4,706 | 5,014 | |||||||||||
Charge-offs | (635) | (592) | |||||||||||||
Recoveries | 47 | 37 | |||||||||||||
Provisions | (58) | 247 | |||||||||||||
Allowance for Loan Losses: Ending balance | 4,060 | 4,706 | 5,014 | 4,060 | 4,706 | 5,014 | |||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 921 | 2,382 | 921 | 2,382 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 3,139 | 2,324 | 3,139 | 2,324 | |||||||||||
Loan Receivables: Ending balance | 208,462 | 204,311 | 208,462 | 204,311 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 4,992 | 8,436 | 4,992 | 8,436 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 203,470 | 195,875 | 203,470 | 195,875 | |||||||||||
Consumer [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 1,834 | 1,533 | 1,834 | 1,533 | |||||||||||
Charge-offs | (658) | (504) | |||||||||||||
Recoveries | 67 | 100 | |||||||||||||
Provisions | 820 | 705 | |||||||||||||
Allowance for Loan Losses: Ending balance | 2,063 | 1,834 | 1,533 | 2,063 | 1,834 | 1,533 | |||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 25 | 171 | 25 | 171 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 2,038 | 1,663 | 2,038 | 1,663 | |||||||||||
Loan Receivables: Ending balance | 169,065 | 149,735 | 169,065 | 149,735 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 579 | 799 | 579 | 799 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 168,486 | 148,936 | 168,486 | 148,936 | |||||||||||
Residential Real Estate [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 1,622 | 1,407 | 1,622 | 1,407 | |||||||||||
Charge-offs | (309) | (60) | |||||||||||||
Provisions | 295 | 275 | |||||||||||||
Allowance for Loan Losses: Ending balance | 1,608 | 1,622 | 1,407 | 1,608 | 1,622 | 1,407 | |||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 37 | 315 | 37 | 315 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 1,571 | 1,307 | 1,571 | 1,307 | |||||||||||
Loan Receivables: Ending balance | 146,832 | 144,971 | 146,832 | 144,971 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 1,074 | 1,882 | 1,074 | 1,882 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 145,758 | 143,089 | 145,758 | 143,089 | |||||||||||
Unallocated [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | $ 127 | $ 237 | 127 | 237 | |||||||||||
Provisions | (39) | (110) | |||||||||||||
Allowance for Loan Losses: Ending balance | 88 | 127 | $ 237 | 88 | 127 | $ 237 | |||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | $ 88 | $ 127 | $ 88 | $ 127 |
Bank Premises And Equipment (Na
Bank Premises And Equipment (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 1.3 | $ 1.4 | $ 1.3 | |
Rental expense | $ 0.4 | $ 0.3 | $ 0.3 | |
Loan transferred from loans to foreclosed assets held-for-sale to bank premises, value | $ 1 | |||
Lease expiration date | Dec. 31, 2021 | |||
Bank Premises [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 40 years | |||
Furniture, Fixtures And Equipment [Member] | Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 3 years | |||
Furniture, Fixtures And Equipment [Member] | Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 7 years |
Bank Premises And Equipment (Co
Bank Premises And Equipment (Components Of Bank Premises And Equipment) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | ||
Total | $ 32,446 | $ 32,821 |
Less accumulated depreciation and amortization | (15,870) | (15,657) |
Bank premises and equipment, net | 16,576 | 17,164 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 2,865 | 2,865 |
Bank Premises [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 13,981 | 13,703 |
Furniture, Fixtures And Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 10,413 | 10,257 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | $ 5,187 | $ 5,996 |
Bank Premises And Equipment (Fu
Bank Premises And Equipment (Future Minimum Lease Payments) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Bank Premises And Equipment [Abstract] | |
2,018 | $ 261 |
2,019 | 293 |
2,020 | 291 |
2,021 | 296 |
2,022 | 300 |
2023 and thereafter | 5,881 |
Total | $ 7,322 |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Deposit Liabilities [Line Items] | ||
CDARS Deposits | $ 1.1 | $ 1.1 |
Time Deposits 100,000 Or More | 58.1 | 47.4 |
Time Deposits 250,000 Or More | 30.9 | $ 25.7 |
Securities Available To Be Pledged As Collateral [Member] | ||
Deposit Liabilities [Line Items] | ||
Available-for-sale Securities Pledged as Collateral | 156.6 | |
Pledged Letters of Credit | 0.3 | |
Qualifying Collateral | 35.7 | |
Securities Pledged as Collateral [Member] | ||
Deposit Liabilities [Line Items] | ||
Qualifying collateral to secure deposits | $ 121.1 |
Deposits (Schedule Of Certifica
Deposits (Schedule Of Certificates Of Deposits By Year Of Maturity) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Deposits [Abstract] | |
2018, Amount | $ 54,189 |
2019, Amount | 31,449 |
2020, Amount | 15,011 |
2021, Amount | 3,135 |
2022, Amount | 2,892 |
2023 and thereafter, Amount | 390 |
Total, Amount | $ 107,066 |
2018, Percent | 50.60% |
2019, Percent | 29.40% |
2020, Percent | 14.00% |
2021, Percent | 2.90% |
2022, Percent | 2.70% |
2023 and thereafter, Percent | 0.40% |
Total, Percent | 100.00% |
Short-Term Borrowings (Narrativ
Short-Term Borrowings (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Short-term Debt [Line Items] | ||
Pledged Securities sold under Agreement to repurchase | $ 12.2 | $ 10.1 |
FHLB Advance [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 206.9 | |
Correspondent Banks [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 21 | |
Federal Reserve Bank Discount Window [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 66.9 |
Short-Term Borrowings (Schedule
Short-Term Borrowings (Schedule Of Components Of Short-Term Debt) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Total Short-term Borrowings | $ 18,502 | $ 4,223 |
Overnight Borrowings [Member] | ||
Total Short-term Borrowings | 7,455 | |
Repurchase Agreements [Member] | ||
Total Short-term Borrowings | $ 11,047 | $ 4,223 |
Short-Term Borrowings (Schedu71
Short-Term Borrowings (Schedule Of Short-Term Debt) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Short-term Debt [Line Items] | |||
Maximum outstanding at any month end | $ 63,916 | $ 36,627 | $ 47,920 |
Average outstanding | 28,673 | 13,044 | 15,091 |
Overnight Borrowings [Member] | |||
Short-term Debt [Line Items] | |||
Maximum outstanding at any month end | 46,737 | 17,862 | 27,236 |
Average outstanding | $ 18,399 | $ 2,805 | $ 4,823 |
Weighted-average rate during the year | 1.09% | 0.65% | 0.39% |
Rate at year-end | 1.56% | 0.48% | |
Repurchase Agreements [Member] | |||
Short-term Debt [Line Items] | |||
Maximum outstanding at any month end | $ 17,179 | $ 18,765 | $ 20,684 |
Average outstanding | $ 10,274 | $ 10,239 | $ 10,268 |
Weighted-average rate during the year | 0.20% | 0.19% | 0.17% |
Rate at year-end | 0.18% | 0.13% | 0.15% |
FHLB Advances (Narrative) (Deta
FHLB Advances (Narrative) (Details) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 |
FHLB Advances [Abstract] | ||||
Amount borrowed from FHLB | $ 2,000,000 | $ 6,700,000 | $ 17,000,000 | |
FHLB advances that have matured | $ 2,500,000 | $ 2,000,000 |
FHLB Advances (Schedule Of Matu
FHLB Advances (Schedule Of Maturity And Weighted-Average Interest Rates Of FHLB Advances) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
FHLB Advances [Abstract] | |
2018, Amount | $ 4,500 |
2019, Amount | 16,704 |
Total, Amount | $ 21,204 |
2018, Rate | 1.19% |
2019, Rate | 1.38% |
Total, Rate | 1.34% |
Stock Plans (Narrative) (Detail
Stock Plans (Narrative) (Details) | Feb. 07, 2017$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesitemshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015$ / sharesshares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of active share-based compensation plans | item | 2 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Non-option shares granted | 13,224 | 13,209 | 11,925 | |
Stock-Settled Stock Appreciation Rights (SSARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 24,346 | 29,014 | ||
Vesting period | 3 years | |||
Expected term | 10 years | |||
Options exercised | ||||
Options exercised, price per share | $ / shares | ||||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | ||||
Options exercised | 21,750 | 750 | 5,250 | |
Options exercised, price per share | $ / shares | $ 19.14 | $ 18.50 | $ 19.27 | |
Options exercised, intrinsic value | $ | $ 79,715 | $ 2,585 | ||
Optioins exercised, realized tax deduction | $ | 363,392 | 2,375 | ||
Options exercised, tax benefit | $ | $ 123,553 | $ 808 | ||
2012 Stock Incentive Plans [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock plan expiration date | Dec. 31, 2022 | |||
Director Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized | 750,000 | |||
Director Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Non-option shares granted | 8,400 | 8,400 | 4,800 | |
Vesting period | 1 year | 1 year | ||
Omnibus Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized | 750,000 | |||
Omnibus Plan [Member] | Stock-Settled Stock Appreciation Rights (SSARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 24,346 | |||
Expected term | 10 years | |||
Dividend rate | 3.11% | |||
Grant date fair value stock price | $ / shares | $ 5.06 | |||
Interest rate | 2.386% | |||
Volatility rate | 23.434% | |||
Long-Term Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Long-Term Incentive Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Holding period | 2 years | |||
Employee Stock Purchase Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized | 165,000 | |||
Number of shares issued | 69,701 | |||
Dividend Reinvestment Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized | 750,000 | |||
Dividend reinvestment plan, shares available for issuance | 597,216 | |||
Award Date One [Member] | Director Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 2 years | |||
Award Date One [Member] | Omnibus Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Non-option shares granted | 4,749 | 4,749 | 4,734 | 4,950 |
Vesting period | 3 years | 3 years | 3 years | 4 years |
Holding period | 2 years | |||
Term used to determine historical volatility | 5 years | |||
Treasury yield | 5 years | |||
Dividend rate | 0.00% | |||
Grant date stock price | $ / shares | $ 26.17 | |||
Discount rate | 8.548% | |||
Interest rate | 1.841% | |||
Volatility rate | 18.556% | |||
Award Date Two [Member] | Omnibus Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Non-option shares granted | 75 | 75 | 75 | |
Vesting period | 1 year | 1 year | 1 year | |
Award Date Three [Member] | Omnibus Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 4 years |
Stock Plans (Summary Of Weighte
Stock Plans (Summary Of Weighted-Average Fair-Value And Vesting Of Restricted Stock Grants) (Details) - Restricted Stock [Member] - $ / shares | Feb. 07, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 13,224 | 13,209 | 11,925 | |
Weighted average grant date fair value | $ 25.36 | $ 20.84 | $ 21.73 | |
Director Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 8,400 | 8,400 | 4,800 | |
Weighted average grant date fair value | $ 26.17 | $ 21.60 | $ 21.50 | |
Vesting period | 1 year | 1 year | ||
Award Date One [Member] | Director Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 2 years | |||
Award Date One [Member] | Director Plan [Member] | Share-based Compensation Award, Tranche One and Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period, percentage per year | 50.00% | |||
Award Date One [Member] | Omnibus Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 4,749 | 4,749 | 4,734 | 4,950 |
Weighted average grant date fair value | $ 23.93 | $ 19.48 | $ 21.50 | |
Vesting period | 3 years | 3 years | 3 years | 4 years |
Award Date One [Member] | Omnibus Plan [Member] | Share-based Compensation Award, Tranche One, Two and Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period, percentage per year | 33.00% | 33.00% | ||
Award Date One [Member] | Omnibus Plan [Member] | Share-based Compensation Award, Tranche One, Two, Three and Four [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period, percentage per year | 25.00% | |||
Award Date Two [Member] | Omnibus Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 75 | 75 | 75 | |
Weighted average grant date fair value | $ 26.17 | $ 21 | $ 21.67 | |
Vesting period | 1 year | 1 year | 1 year | |
Award Date Three [Member] | Omnibus Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 4 years | |||
Award Date Three [Member] | Omnibus Plan [Member] | Share-based Compensation Award, Tranche One, Two, Three and Four [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period, percentage per year | 25.00% |
Stock Plans (Schedule Of Non-Ve
Stock Plans (Schedule Of Non-Vested Restricted Stock Units Activity) (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Non-vested balance at December 31 | 21,962 | 18,062 | 17,805 |
Granted | 13,224 | 13,209 | 11,925 |
Vested | (14,482) | (9,309) | (11,668) |
Non-vested balance at December 31 | 20,704 | 21,962 | 18,062 |
Weighted average grant date fair value, Non-vested balance at December 31 | $ 20.31 | $ 19.67 | $ 15.47 |
Weighted average grant date fair value, Granted | 25.36 | 20.84 | 21.73 |
Weighted average grant date fair value, Vested | 20.47 | 19.79 | 15.39 |
Weighted average grant date fair value, Non-vested balance at December 31 | $ 23.59 | $ 20.31 | $ 19.67 |
Director Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Non-vested balance at December 31 | 8,400 | 4,800 | 9,000 |
Granted | 8,400 | 8,400 | 4,800 |
Vested | (8,400) | (4,800) | (9,000) |
Non-vested balance at December 31 | 8,400 | 8,400 | 4,800 |
Weighted average grant date fair value, Granted | $ 26.17 | $ 21.60 | $ 21.50 |
Omnibus Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Non-vested balance at December 31 | 13,562 | 13,262 | 8,805 |
Granted | 4,824 | 4,809 | 7,125 |
Vested | (6,082) | (4,509) | (2,668) |
Non-vested balance at December 31 | 12,304 | 13,562 | 13,262 |
Stock Plans (Schedule Of SSARs
Stock Plans (Schedule Of SSARs Activity) (Details) - Stock-Settled Stock Appreciation Rights (SSARs) [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding and exercisable, December 31 | 29,014 | |
Granted | 24,346 | 29,014 |
Exercised | ||
Forfeited | ||
Outstanding and exercisable, December 31 | 53,360 | 29,014 |
Weighted-average exercise price, Outstanding and exercisable, December 31 | $ 3.48 | |
Weighted-average exercise price - Granted | 5.06 | 3.48 |
Weighted-average exercise price - Exercised | ||
Weighted-average exercise price - Forfeited | ||
Weighted-average exercise price, Outstanding and exercisable, December 31 | $ 4.20 | $ 3.48 |
Weighted-average remaining contractual term (years), Granted | 10 years | 10 years |
Weighted-average remaining contractual term (years), Outstanding and exercisable | 8 years 6 months | 9 years 1 month 6 days |
Vested and exercisable | 9,668 | |
Vesting period | 3 years | |
Share-based Compensation Award, Tranche One, Two and Three [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Vesting period, percentage per year | 33.00% |
Stock Plans (Schedule Of Compen
Stock Plans (Schedule Of Compensation Cost For Share-Based Payment Arrangements, Allocation Of Share-Based Compensation Costs By Plan) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Non-Vested Equity Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 333,000 | $ 330,000 | $ 225,000 |
Non-Vested Equity Awards [Member] | Director Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 116,000 | 174,000 | 107,000 |
Non-Vested Equity Awards [Member] | Omnibus Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 194,000 | 141,000 | 74,000 |
Non-Vested Equity Awards [Member] | Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 23,000 | 15,000 | 44,000 |
Restricted Stock And Stock-Settled Stock Appreciation Rights [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 200,000 | $ 200,000 | $ 0 |
Stock Plans (Schedule Of Unreco
Stock Plans (Schedule Of Unrecognized Compensation Cost, Non-Vested Awards) (Details) - Non-Vested Equity Awards [Member] $ in Thousands | Dec. 31, 2017USD ($) |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized stock-based compensation expense | $ 399 |
Director Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized stock-based compensation expense | 119 |
Omnibus Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized stock-based compensation expense | $ 280 |
Stock Plans (Summary Of Stock O
Stock Plans (Summary Of Stock Option Activity) (Details) - Employee Stock Option [Member] - $ / shares | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding and exercisable, December 31 | 22,500 | 23,250 | 28,500 | |
Granted | ||||
Exercised | (21,750) | (750) | (5,250) | |
Forfeited | ||||
Outstanding and exercisable, December 31 | 750 | 22,500 | 23,250 | 28,500 |
Weighted-average exercise price, Outstanding and exercisable, December 31 | $ 19.12 | $ 19.09 | $ 19.13 | |
Weighted-average exercise price - Granted | ||||
Weighted-average exercise price - Exercised | 19.14 | 18.50 | 19.27 | |
Weighted-average exercise price - Forfeited | ||||
Weighted-average exercise price, Outstanding and exercisable, December 31 | $ 18.50 | $ 19.12 | $ 19.09 | $ 19.13 |
Weighted-average remaining contractual term (years), Outstanding and exercisable | 2 months 12 days | 1 year | 2 years | 3 years |
Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted-average exercise price, Outstanding and exercisable, December 31 | $ 19.27 | |||
Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted-average exercise price, Outstanding and exercisable, December 31 | $ 17.37 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Unrecognized tax benefits | $ 0 | |||
Penalties and interest | $ 0 | $ 0 | $ 0 | |
Federal statutory income tax rate | 34.00% | |||
Decrease in deferred tax liabilites resulting from Tax Act | $ 1,100,000 | |||
Scenario, Plan [Member] | ||||
Federal statutory income tax rate | 21.00% |
Income Taxes (Schedule Of Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Income Taxes [Abstract] | ||
Allowance for loan losses | $ 1,930 | $ 3,184 |
Deferred interest from non-accrual assets | 180 | 425 |
Other | 471 | 336 |
Total | 2,581 | 3,945 |
Net unrealized gains on available-for-sale securities | (480) | (711) |
Loan fees and costs | (1,023) | (1,525) |
Automobile leasing | (2,298) | (3,263) |
Depreciation | (263) | (368) |
Mortgage loan servicing rights | (268) | (430) |
Total | (4,332) | (6,297) |
Deferred tax liability, net | $ (1,751) | $ (2,352) |
Income Taxes (Schedule Of Compo
Income Taxes (Schedule Of Components Of Income Tax Expense Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||||||||||||||
Current | $ 1,872 | $ 1,521 | $ 173 | ||||||||||||
Deferred income tax | (666) | 1,248 | 1,645 | ||||||||||||
Total/Actual provision for income taxes | $ (872) | $ 658 | $ 739 | $ 681 | $ 738 | $ 776 | $ 669 | $ 586 | $ 634 | $ 687 | $ (50) | $ 547 | $ 1,206 | $ 2,769 | $ 1,818 |
Income Taxes (Schedule Of Effec
Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||||||||||||||
Expected provision at the statutory rate | $ 3,373 | $ 3,557 | $ 3,033 | ||||||||||||
Tax-exempt income | (845) | (742) | (715) | ||||||||||||
Bank owned life insurance | (198) | (120) | (116) | ||||||||||||
Nondeductible interest expense | 19 | 14 | 14 | ||||||||||||
Nondeductible other expenses and other, net | (59) | 60 | 41 | ||||||||||||
Tax credits | (439) | ||||||||||||||
Tax rate change adjustment | (1,084) | ||||||||||||||
Total/Actual provision for income taxes | $ (872) | $ 658 | $ 739 | $ 681 | $ 738 | $ 776 | $ 669 | $ 586 | $ 634 | $ 687 | $ (50) | $ 547 | $ 1,206 | $ 2,769 | $ 1,818 |
Retirement Plan (Narrative) (De
Retirement Plan (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retirement and Employee Benefits [Abstract] | |||
Contributions to the plan | $ 0.4 | $ 0.4 | $ 0.4 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($)item | Dec. 31, 2016USD ($)item | Dec. 31, 2015USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | $ 0 | $ 0 | |
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | 0 | 0 | |
Transfers into (out of) Level 3 | 0 | 0 | |
Loss on commitments | $ 0 | $ 0 | $ 0 |
Other Repossessed Assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Number of repossessed automobiles | item | 0 | 1 | |
Other assets fair value | $ 8,000 | ||
Adjustments to carrying value | $ 0 | ||
Minimum [Member] | Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value inputs, comparability adjustments | (15.95%) | (22.72%) | |
Minimum [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value inputs, comparability adjustments | (17.95%) | (21.74%) | |
Maximum [Member] | Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value inputs, comparability adjustments | (51.55%) | (57.49%) | |
Maximum [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value inputs, comparability adjustments | (99.00%) | (99.00%) | |
Weighted Average [Member] | Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value inputs, comparability adjustments | (23.03%) | (32.47%) | |
Weighted Average [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value inputs, comparability adjustments | (35.30%) | (32.38%) |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Amount And Estimated Fair Value By Balance Sheet Grouping) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities | $ 157,385 | $ 130,037 |
Loans held-for-sale | 2,221 | 2,907 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 15,825 | 25,843 |
Available-for-sale Securities | 157,385 | 130,037 |
FHLB stock | 2,832 | 2,606 |
Loans and leases, net | 628,767 | 588,130 |
Loans held-for-sale | 2,181 | 2,854 |
Accrued interest receivable | 2,786 | 2,246 |
Short-term borrowings | 18,502 | 4,223 |
FHLB advances | 21,204 | |
Accrued interest payable | 346 | 181 |
Carrying Amount [Member] | Deposits With No Stated Maturities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposit liabilities | 623,080 | 610,706 |
Carrying Amount [Member] | Time Deposits [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposit liabilities | 107,066 | 92,753 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 15,825 | 25,843 |
Available-for-sale Securities | 157,385 | 130,037 |
FHLB stock | 2,832 | 2,606 |
Loans and leases, net | 625,052 | 590,688 |
Loans held-for-sale | 2,221 | 2,907 |
Accrued interest receivable | 2,786 | 2,246 |
Short-term borrowings | 18,502 | 4,223 |
FHLB advances | 21,066 | |
Accrued interest payable | 346 | 181 |
Estimated Fair Value [Member] | Deposits With No Stated Maturities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposit liabilities | 623,080 | 610,706 |
Estimated Fair Value [Member] | Time Deposits [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposit liabilities | 105,758 | 91,969 |
Quoted Prices In Active Markets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 15,825 | 25,843 |
Available-for-sale Securities | 828 | 633 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities | 156,557 | 129,404 |
FHLB stock | 2,832 | 2,606 |
Loans held-for-sale | 2,221 | 2,907 |
Accrued interest receivable | 2,786 | 2,246 |
Short-term borrowings | 18,502 | 4,223 |
FHLB advances | 21,066 | |
Accrued interest payable | 346 | 181 |
Significant Other Observable Inputs (Level 2) [Member] | Deposits With No Stated Maturities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposit liabilities | 623,080 | 610,706 |
Significant Other Observable Inputs (Level 2) [Member] | Time Deposits [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposit liabilities | 105,758 | 91,969 |
Significant Other Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and leases, net | $ 625,052 | $ 590,688 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | $ 157,385 | $ 130,037 |
Agency - GSE [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 9,099 | 18,276 |
Obligation Of States And Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 44,306 | 40,191 |
MBS - GSE Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 103,152 | 70,937 |
Equity Securities - Financial Services [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 828 | 633 |
Quoted Prices In Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 828 | 633 |
Quoted Prices In Active Markets (Level 1) [Member] | Equity Securities - Financial Services [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 828 | 633 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 156,557 | 129,404 |
Significant Other Observable Inputs (Level 2) [Member] | Agency - GSE [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 9,099 | 18,276 |
Significant Other Observable Inputs (Level 2) [Member] | Obligation Of States And Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | 44,306 | 40,191 |
Significant Other Observable Inputs (Level 2) [Member] | MBS - GSE Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities, Fair value | $ 103,152 | $ 70,937 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurements At Fair Value Segregated By Hierarchy Fair Value Levels) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 3,766 | $ 7,126 |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,952 | 6,254 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 814 | 872 |
Significant Other Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 3,766 | 7,126 |
Significant Other Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,952 | 6,254 |
Significant Other Unobservable Inputs (Level 3) [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 814 | $ 872 |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Fair Value, Off-Balance Sheet Risks) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Commitments to extend credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet financial instruments | $ 136,398 | $ 128,543 |
Standby letters of credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet financial instruments | $ 4,488 | $ 7,645 |
Fair Value Measurements (Supply
Fair Value Measurements (Supply Commitment) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | $ 4,488 |
Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 4,103 |
More than one year to five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 25 |
Over five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 360 |
Secured [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 3,757 |
Secured [Member] | Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 3,372 |
Secured [Member] | More than one year to five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 25 |
Secured [Member] | Over five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 360 |
Secured by Collateral [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 3,636 |
Secured by Collateral [Member] | Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 3,251 |
Secured by Collateral [Member] | More than one year to five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 25 |
Secured by Collateral [Member] | Over five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 360 |
Secured by Bank Lines of Credit [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 121 |
Secured by Bank Lines of Credit [Member] | Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 121 |
Unsecured [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 731 |
Unsecured [Member] | Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | $ 731 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2017itemshares | Dec. 31, 2016shares | Dec. 31, 2015shares | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Number of active share-based compensation plans | item | 2 | ||
Potentially dilutive common shares | 23,919 | 11,083 | 11,137 |
Employee Stock Option [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Potentially dilutive common shares | 14,300 | 2,969 | 4,264 |
Restricted Stock [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Potentially dilutive common shares | 9,619 | 8,114 | 6,873 |
Earnings Per Share (Schedule Of
Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Earnings Per Share [Abstract] | ||||||||||||||||||
Net income available to common shareholders | $ 2,327 | $ 2,226 | $ 2,183 | $ 1,980 | $ 2,029 | $ 2,035 | $ 1,928 | $ 1,701 | $ 1,821 | $ 1,929 | $ 1,780 | $ 1,573 | $ 8,716 | $ 7,693 | $ 7,103 | |||
Weighted-average common shares outstanding | 3,711,490 | 3,679,507 | 3,658,687 | |||||||||||||||
Basic EPS | $ 0.63 | $ 0.60 | $ 0.59 | $ 0.53 | $ 0.55 | $ 0.55 | $ 0.53 | $ 0.46 | $ 0.49 | $ 0.53 | $ 0.49 | $ 0.43 | $ 2.35 | [1] | $ 2.09 | [1] | $ 1.94 | [1] |
Potentially dilutive common shares | 23,919 | 11,083 | 11,137 | |||||||||||||||
Weighted-average common and potentially dilutive shares outstanding | 3,735,409 | 3,690,590 | 3,669,824 | |||||||||||||||
Diluted EPS | $ 0.61 | $ 0.60 | $ 0.59 | $ 0.53 | $ 0.55 | $ 0.55 | $ 0.53 | $ 0.46 | $ 0.49 | $ 0.53 | $ 0.49 | $ 0.43 | $ 2.33 | [1] | $ 2.09 | [1] | $ 1.94 | [1] |
[1] | On August 15, 2017, the Company declared a three-for-two stock split effected in the form of a 50% stock dividend. Per share data for the years ended December 31, 2016 and 2015 has been restated for the effects thereof. |
Regulatory Matters (Narrative)
Regulatory Matters (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2017 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total Risk Adjusted Capital | 8.00% | |
Tier I Common Equity | 4.50% | |
Tier 1 capital (to risk-weighted assets) | 6.00% | |
Leverage Ratio | 4.00% | |
Amount available for dividend payments without regulatory approval | $ 76.7 | |
Maximum [Member] | Scenario, Forecast [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conversion buffer | 2.50% |
Regulatory Matters (Schedule Of
Regulatory Matters (Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 common equity (to risk-weighted assets) Actual, Ratio | 4.50% | |
Tier 1 capital (to risk-weighted assets), Actual, Ratio | 6.00% | |
Capital conservation buffer | 0.625% | |
Parent Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual, Amount | $ 93,204 | $ 86,702 |
Total capital (to risk-weighted assets), Actual, Ratio | 14.90% | 14.90% |
Total capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 50,028 | $ 46,550 |
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 57,845 | $ 50,186 |
Total capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 9.30% | 8.60% |
Tier 1 common equity (to risk-weighted assets) Actual, Amount | $ 85,369 | $ 79,250 |
Tier 1 common equity (to risk-weighted assets) Actual, Ratio | 13.70% | 13.60% |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes, Amount | $ 28,141 | $ 26,184 |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes, Ratio | 4.50% | 4.50% |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 35,957 | $ 29,821 |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 5.80% | 5.10% |
Tier 1 capital (to risk-weighted assets), Actual, Amount | $ 85,369 | $ 79,250 |
Tier 1 capital (to risk-weighted assets), Actual, Ratio | 13.70% | 13.60% |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 37,521 | $ 34,912 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 6.00% | 6.00% |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 45,338 | $ 38,549 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 7.30% | 6.60% |
Tier 1 capital (to average assets), Actual, Amount | $ 85,369 | $ 79,250 |
Tier 1 capital (to average assets), Actual, Ratio | 9.90% | 10.30% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 34,471 | $ 30,717 |
Tier 1 capital (to average assets), For capital adequacy purposes, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), For capital adequacy purposeswith capital conversion buffer, Ratio | $ 34,471 | $ 30,717 |
Tier 1 capital (to average assets), For capital adequacy purposes with capital conversion buffer, Ratio | 4.00% | 4.00% |
Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual, Amount | $ 93,130 | $ 86,332 |
Total capital (to risk-weighted assets), Actual, Ratio | 14.90% | 14.80% |
Total capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 50,122 | $ 46,538 |
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 57,954 | $ 50,174 |
Total capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 9.30% | 8.60% |
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount | $ 62,653 | $ 58,172 |
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio | 10.00% | 10.00% |
Tier 1 common equity (to risk-weighted assets) Actual, Amount | $ 85,280 | $ 79,033 |
Tier 1 common equity (to risk-weighted assets) Actual, Ratio | 13.60% | 13.60% |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes, Amount | $ 28,194 | $ 26,178 |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes, Ratio | 4.50% | 4.50% |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 36,025 | $ 29,813 |
Tier 1 common equity (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 5.80% | 5.10% |
Tier 1 common equity (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount | $ 40,724 | $ 37,812 |
Tier 1 common equity (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio | 6.50% | 6.50% |
Tier 1 capital (to risk-weighted assets), Actual, Amount | $ 85,280 | $ 79,033 |
Tier 1 capital (to risk-weighted assets), Actual, Ratio | 13.60% | 13.60% |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 37,592 | $ 34,903 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 6.00% | 6.00% |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Amount | $ 45,423 | $ 38,539 |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes with capital conversion buffer, Ratio | 7.30% | 6.60% |
Tier 1 capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount | $ 50,122 | $ 46,538 |
Tier 1 capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio | 8.00% | 8.00% |
Tier 1 capital (to average assets), Actual, Amount | $ 85,280 | $ 79,033 |
Tier 1 capital (to average assets), Actual, Ratio | 9.90% | 10.30% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 34,483 | $ 30,650 |
Tier 1 capital (to average assets), For capital adequacy purposes, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), For capital adequacy purposeswith capital conversion buffer, Ratio | $ 34,483 | $ 30,650 |
Tier 1 capital (to average assets), For capital adequacy purposes with capital conversion buffer, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), To be well capitalized under prompt corrective action provisions, Amount | $ 43,103 | $ 38,313 |
Tier 1 capital (to average assets), To be well capitalized under prompt corrective action provisions, Ratio | 5.00% | 5.00% |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Related Party Transactions [Abstract] | |||
Related Party Deposit Liabilities | $ 14.3 | $ 12.9 | $ 12.9 |
Related Party Transactions (Sch
Related Party Transactions (Schedule Of Related Party Transactions) (Details) - Stock owned by officers, directors, associates and such persons and shareholders who own more than %5 of shares outstanding [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | |||
Balance, beginning | $ 7,849 | $ 6,983 | $ 4,924 |
Additions | 1,111 | 2,629 | 5,672 |
Collections | (2,463) | (1,763) | (3,613) |
Balance, ending | $ 6,497 | $ 7,849 | $ 6,983 |
Quarterly Financial Informati98
Quarterly Financial Information (Unaudited) (Schedule Of Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Quarterly Financial Information (Unaudited) [Abstract] | ||||||||||||||||||
Interest income | $ 7,916 | $ 7,928 | $ 7,854 | $ 7,366 | $ 7,038 | $ 7,006 | $ 6,715 | $ 6,736 | $ 6,660 | $ 6,612 | $ 6,438 | $ 6,304 | $ 31,064 | $ 27,495 | $ 26,014 | |||
Interest expense | (866) | (882) | (787) | (688) | (601) | (585) | (574) | (598) | (605) | (580) | (647) | (697) | (3,223) | (2,358) | (2,529) | |||
Net interest income | 7,050 | 7,046 | 7,067 | 6,678 | 6,437 | 6,421 | 6,141 | 6,138 | 6,055 | 6,032 | 5,791 | 5,607 | 27,841 | 25,137 | 23,485 | |||
Provision for loan losses | (525) | (375) | (225) | (325) | (375) | (225) | (275) | (150) | (575) | (200) | (150) | (150) | (1,450) | (1,025) | (1,075) | |||
Gain on sale and recovery of investment securities | (147) | 9 | 54 | 8 | 16 | 2 | (147) | 9 | 80 | |||||||||
Other income | 2,029 | 2,248 | 2,131 | 2,105 | 2,194 | 2,024 | 2,091 | 1,687 | 1,873 | 2,015 | 1,817 | 1,748 | 8,513 | 7,996 | 7,453 | |||
Other expenses | (6,953) | (6,035) | (6,051) | (5,797) | (5,489) | (5,409) | (5,369) | (5,388) | (4,952) | (5,239) | (5,744) | (5,087) | (24,836) | (21,655) | (21,022) | |||
Income before taxes | 1,455 | 2,884 | 2,922 | 2,661 | 2,767 | 2,811 | 2,597 | 2,287 | 2,455 | 2,616 | 1,730 | 2,120 | 9,922 | 10,462 | 8,921 | |||
Provision for income taxes | 872 | (658) | (739) | (681) | (738) | (776) | (669) | (586) | (634) | (687) | 50 | (547) | (1,206) | (2,769) | (1,818) | |||
Net income | $ 2,327 | $ 2,226 | $ 2,183 | $ 1,980 | $ 2,029 | $ 2,035 | $ 1,928 | $ 1,701 | $ 1,821 | $ 1,929 | $ 1,780 | $ 1,573 | $ 8,716 | $ 7,693 | $ 7,103 | |||
Net income per share - basic | $ 0.63 | $ 0.60 | $ 0.59 | $ 0.53 | $ 0.55 | $ 0.55 | $ 0.53 | $ 0.46 | $ 0.49 | $ 0.53 | $ 0.49 | $ 0.43 | $ 2.35 | [1] | $ 2.09 | [1] | $ 1.94 | [1] |
Net income per share - diluted | $ 0.61 | $ 0.60 | $ 0.59 | $ 0.53 | $ 0.55 | $ 0.55 | $ 0.53 | $ 0.46 | $ 0.49 | $ 0.53 | $ 0.49 | $ 0.43 | $ 2.33 | [1] | $ 2.09 | [1] | $ 1.94 | [1] |
[1] | On August 15, 2017, the Company declared a three-for-two stock split effected in the form of a 50% stock dividend. Per share data for the years ended December 31, 2016 and 2015 has been restated for the effects thereof. |
Contingencies (Narrative) (Deta
Contingencies (Narrative) (Details) | Dec. 31, 2017item |
Contingencies [Abstract] | |
Loss contingency, pending legal proceedings | 0 |
Recent Accounting Pronouncem100
Recent Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Unrealized gain (loss), net of tax | $ 126 | $ (807) | $ (555) | |
Retained earnings | 57,218 | 52,095 | ||
ASU 2014-09 [Member] | Subsequent Event [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Cumulative effect on retained earnings | $ 100 | |||
ASU 2016-01 [Member] | Subsequent Event [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Unrealized gain (loss), net of tax | (400) | |||
Retained earnings | $ 400 | |||
Parent Company [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Unrealized gain (loss), net of tax | $ 130 | $ 57 | $ (32) |
Parent Company Only (Schedule O
Parent Company Only (Schedule Of Condensed Balance Sheet) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Condensed Financial Statements, Captions [Line Items] | ||||
Cash | $ 14,143 | $ 12,856 | ||
Securities available-for-sale | 157,385 | 130,037 | ||
Other assets | 16,086 | 11,323 | ||
Total assets | 863,637 | 792,944 | ||
Liabilities | 776,254 | 712,313 | ||
Accumulated other comprehensive income | 1,804 | 1,381 | $ 2,188 | $ 2,743 |
Total liabilities and shareholders' equity | 863,637 | 792,944 | ||
Parent Company [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash | 205 | 141 | ||
Investment in subsidiary | 86,873 | 80,192 | ||
Securities available-for-sale | 828 | 631 | ||
Other assets | 45 | 35 | ||
Total assets | 87,951 | 80,999 | ||
Liabilities | 568 | 368 | ||
Capital stock and retained earnings | 85,579 | 79,250 | ||
Accumulated other comprehensive income | 1,804 | 1,381 | ||
Total liabilities and shareholders' equity | $ 87,951 | $ 80,999 |
Parent Company Only (Schedul102
Parent Company Only (Schedule Of Condensed Income Statement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Other income | $ 2,029 | $ 2,248 | $ 2,131 | $ 2,105 | $ 2,194 | $ 2,024 | $ 2,091 | $ 1,687 | $ 1,873 | $ 2,015 | $ 1,817 | $ 1,748 | $ 8,513 | $ 7,996 | $ 7,453 |
Credit for income taxes | 872 | (658) | (739) | (681) | (738) | (776) | (669) | (586) | (634) | (687) | 50 | (547) | (1,206) | (2,769) | (1,818) |
Net income | $ 2,327 | $ 2,226 | $ 2,183 | $ 1,980 | $ 2,029 | $ 2,035 | $ 1,928 | $ 1,701 | $ 1,821 | $ 1,929 | $ 1,780 | $ 1,573 | 8,716 | 7,693 | 7,103 |
Parent Company [Member] | |||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Equity in undistributed earnings of subsidiary | 6,685 | 5,289 | 4,659 | ||||||||||||
Dividends from subsidiary | 2,574 | 2,960 | 2,844 | ||||||||||||
Other income | 22 | 21 | 20 | ||||||||||||
Total income | 9,281 | 8,270 | 7,523 | ||||||||||||
Operating expenses | 1,094 | 864 | 610 | ||||||||||||
Income before taxes | 8,187 | 7,406 | 6,913 | ||||||||||||
Credit for income taxes | 529 | 287 | 190 | ||||||||||||
Net income | $ 8,716 | $ 7,693 | $ 7,103 |
Parent Company Only (Schedul103
Parent Company Only (Schedule Of Condensed Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Net income | $ 2,327 | $ 2,226 | $ 2,183 | $ 1,980 | $ 2,029 | $ 2,035 | $ 1,928 | $ 1,701 | $ 1,821 | $ 1,929 | $ 1,780 | $ 1,573 | $ 8,716 | $ 7,693 | $ 7,103 |
Unrealized holding gains (losses) on available-for-sale securities | 44 | (1,213) | (761) | ||||||||||||
Tax effect | (65) | 415 | 286 | ||||||||||||
Unrealized gain (loss), net of tax | 126 | (807) | (555) | ||||||||||||
Other comprehensive income (loss), net of tax | 126 | (807) | (555) | ||||||||||||
Total comprehensive income, net of tax | 8,842 | 6,886 | 6,548 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Bancorp net loss | (542) | (556) | (400) | ||||||||||||
Equity in net income of subsidiary | 9,258 | 8,249 | 7,503 | ||||||||||||
Net income | 8,716 | 7,693 | 7,103 | ||||||||||||
Unrealized holding gains (losses) on available-for-sale securities | 197 | 86 | (49) | ||||||||||||
Tax effect | (67) | (29) | 17 | ||||||||||||
Unrealized gain (loss), net of tax | 130 | 57 | (32) | ||||||||||||
Equity in other comprehensive loss of subsidiary | (4) | (864) | (523) | ||||||||||||
Other comprehensive income (loss), net of tax | 126 | (807) | (555) | ||||||||||||
Total comprehensive income, net of tax | $ 8,842 | $ 6,886 | $ 6,548 |
Parent Company Only (Schedul104
Parent Company Only (Schedule Of Condensed Cash Flow Statement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Net Income (Loss) Attributable to Parent | $ 2,327 | $ 2,226 | $ 2,183 | $ 1,980 | $ 2,029 | $ 2,035 | $ 1,928 | $ 1,701 | $ 1,821 | $ 1,929 | $ 1,780 | $ 1,573 | $ 8,716 | $ 7,693 | $ 7,103 |
Net Cash Provided by (Used in) Operating Activities | 13,887 | 15,859 | 15,725 | ||||||||||||
Net income | 2,327 | $ 2,226 | $ 2,183 | 1,980 | 2,029 | $ 2,035 | $ 1,928 | 1,701 | 1,821 | $ 1,929 | $ 1,780 | 1,573 | 8,716 | 7,693 | 7,103 |
Proceeds from Sale of Available-for-sale Securities | 5,970 | 2,884 | 15,431 | ||||||||||||
Net Cash Provided by (Used in) Investing Activities | (69,842) | (58,161) | (74,624) | ||||||||||||
Stock-based compensation expense | 550 | 519 | 225 | ||||||||||||
Net Cash Provided by (Used in) Financing Activities | 45,937 | 55,868 | 45,325 | ||||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | (10,018) | 13,566 | (13,574) | ||||||||||||
Cash and Cash Equivalents, at Carrying Value | 15,825 | 25,843 | 25,843 | 12,277 | 12,277 | 25,851 | 25,843 | 12,277 | 25,851 | ||||||
Deferred income tax | (666) | 1,248 | 1,645 | ||||||||||||
Net cash provided by operating activities | 13,887 | 15,859 | 15,725 | ||||||||||||
Net cash used in investing activities | (69,842) | (58,161) | (74,624) | ||||||||||||
Dividends paid, net of dividends reinvested | (2,954) | (3,061) | (2,844) | ||||||||||||
Exercise of stock options | 416 | 14 | 101 | ||||||||||||
Withholdings to purchase capital stock | 126 | 111 | 102 | ||||||||||||
Cash paid in lieu of fractional shares | (11) | ||||||||||||||
Net cash provided by financing activities | 45,937 | 55,868 | 45,325 | ||||||||||||
Net (decrease) increase in cash and cash equivalents | (10,018) | 13,566 | (13,574) | ||||||||||||
Cash and cash equivalents, beginning | 25,843 | 12,277 | 25,851 | 25,843 | 12,277 | 25,851 | |||||||||
Cash and cash equivalents, ending | 15,825 | 25,843 | 12,277 | 15,825 | 25,843 | 12,277 | |||||||||
Parent Company [Member] | |||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Net Income (Loss) Attributable to Parent | 8,716 | 7,693 | 7,103 | ||||||||||||
Net Cash Provided by (Used in) Operating Activities | (87) | (73) | (177) | ||||||||||||
Net income | 8,716 | 7,693 | 7,103 | ||||||||||||
Equity in earnings of subsidiary | (9,258) | (8,249) | (7,503) | ||||||||||||
Net Cash Provided by (Used in) Investing Activities | 2,574 | 2,960 | 2,844 | ||||||||||||
Stock-based compensation expense | 550 | 519 | 225 | ||||||||||||
Net Cash Provided by (Used in) Financing Activities | (2,423) | (2,936) | (2,641) | ||||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 64 | (49) | 26 | ||||||||||||
Cash and Cash Equivalents, at Carrying Value | 205 | 141 | 141 | 190 | 190 | 164 | 141 | 190 | 164 | ||||||
Deferred income tax | (69) | ||||||||||||||
Changes in other assets and liabilities, net | (26) | (36) | (2) | ||||||||||||
Net cash provided by operating activities | (87) | (73) | (177) | ||||||||||||
Dividends received from subsidiary | 2,574 | 2,960 | 2,844 | ||||||||||||
Net cash used in investing activities | 2,574 | 2,960 | 2,844 | ||||||||||||
Dividends paid, net of dividends reinvested | (2,954) | (3,061) | (2,844) | ||||||||||||
Exercise of stock options | 416 | 14 | 101 | ||||||||||||
Withholdings to purchase capital stock | 126 | 111 | 102 | ||||||||||||
Cash paid in lieu of fractional shares | (11) | ||||||||||||||
Net cash provided by financing activities | (2,423) | (2,936) | (2,641) | ||||||||||||
Net (decrease) increase in cash and cash equivalents | 64 | (49) | 26 | ||||||||||||
Cash and cash equivalents, beginning | $ 141 | $ 190 | $ 164 | 141 | 190 | 164 | |||||||||
Cash and cash equivalents, ending | $ 205 | $ 141 | $ 190 | $ 205 | $ 141 | $ 190 |
Acquisition (Narrative) (Detail
Acquisition (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2017USD ($)loan | Mar. 17, 2017USD ($) | |
Business Acquisition [Line Items] | ||
Acquisition costs | $ 41,000 | |
Number of loans acquired with evidence of credit quality deterioration | loan | 0 | |
Goodwill | $ 209,000 | |
West Scranton branch of Wayne Bank [Member] | ||
Business Acquisition [Line Items] | ||
Loans acquired | $ 1,574,000 | |
Goodwill | $ 209,000 | |
Goodwill impairment | $ 0 |
Acquisition (Summary Of Estimat
Acquisition (Summary Of Estimated Fair Value Of Assets Acquired And Liabilities Assumed) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Mar. 17, 2017 |
Business Acquisition [Line Items] | ||
Goodwill | $ 209 | |
West Scranton branch of Wayne Bank [Member] | ||
Business Acquisition [Line Items] | ||
Cash and cash equivalents | $ 11,817 | |
Loans | 1,574 | |
Bank premises and equipment | 264 | |
Goodwill | 209 | |
Accrued interest receivable and other assets | 4 | |
Total assets acquired | 13,868 | |
Deposits | 13,809 | |
Accrued interest payable and other liabilities | 59 | |
Total liabilities assumed | $ 13,868 |
Employee Benefits (Narrative) (
Employee Benefits (Narrative) (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017USD ($)employee | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Mar. 29, 2017employee | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Purchase of life insurance policies | $ 8,000 | |||
Cash surrender value of bank owned life insurance | 20,017 | $ 11,435 | ||
Earnings on bank-owned life insurance | $ 581 | $ 353 | $ 342 | |
Number of officers with split dollar life insurance arrangement | employee | 11 | |||
Split dollar life insurance arrangement, death benefit | $ 20,800 | |||
Split dollar life insurance arrangement, death benefit to be paid to insured's beneficiary | 4,000 | |||
Split dollar life insurance arrangement, death benefit to be paid to Company | $ 16,800 | |||
Number of officers with opportunity to retain benefit equal to two times highest base salary after separation | employee | 3 | |||
Split dollar life insurance arrangement, accrued expense | $ 30 | |||
Supplemental Executive Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Number of officers who entered into supplemental executive retirement agreement | employee | 5 | |||
Defined benefit plan, accrued expense | $ 383 |
Uncategorized Items - fdbc-2017
Label | Element | Value |
West Scranton Branch Of Wayne Bank [Member] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-cash Assets | fdbc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNonCashAssets | $ 2,051,000 |