Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Jul. 31, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001132651 | |
Entity Registrant Name | AMES NATIONAL CORPORATION | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 0-32637 | |
Entity Incorporation, State or Country Code | IA | |
Entity Tax Identification Number | 42-1039071 | |
Entity Address, Address Line One | 405 Fifth Street | |
Entity Address, City or Town | Ames | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50010 | |
City Area Code | 515 | |
Local Phone Number | 232-6251 | |
Title of 12(b) Security | Common stock | |
Trading Symbol | ATLO | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 9,122,747 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Cash and due from banks | $ 32,528,234 | $ 34,616,880 |
Interest-bearing deposits in financial institutions and federal funds sold | 145,990,834 | 108,947,624 |
Securities available-for-sale | 513,615,814 | 479,843,448 |
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, at cost | 3,154,800 | 3,138,900 |
Loans receivable, net | 1,146,046,388 | 1,048,147,496 |
Loans held for sale | 2,033,360 | 2,776,785 |
Bank premises and equipment, net | 17,628,860 | 17,810,605 |
Accrued income receivable | 10,801,448 | 11,788,409 |
Other real estate owned | 631,647 | 4,003,684 |
Bank-owned life insurance | 2,878,838 | 2,842,713 |
Deferred income taxes, net | 0 | 1,151,016 |
Intangible assets, net | 3,524,814 | 3,959,260 |
Goodwill | 12,424,434 | 12,114,559 |
Other assets | 5,712,963 | 6,041,126 |
Total assets | 1,896,972,434 | 1,737,182,505 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Noninterest-bearing checking | 332,285,659 | 267,441,988 |
Interest-bearing checking | 483,065,694 | 461,857,728 |
Savings and money market | 553,546,573 | 481,642,221 |
Time, $250,000 and over | 69,189,546 | 74,206,421 |
Other time | 205,455,750 | 208,026,740 |
Total deposits | 1,643,543,222 | 1,493,175,098 |
Securities sold under agreements to repurchase | 36,892,657 | 42,033,570 |
FHLB advances | 3,000,000 | 5,000,000 |
Dividends payable | 0 | 2,213,459 |
Deferred income taxes, net | 1,194,894 | 0 |
Accrued expenses and other liabilities | 11,191,759 | 7,180,906 |
Total liabilities | 1,695,822,532 | 1,549,603,033 |
STOCKHOLDERS' EQUITY | ||
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 9,122,747 and 9,222,747 as of June 30, 2020 and December 31, 2019, respectively | 18,245,494 | 18,445,494 |
Additional paid-in capital | 17,001,736 | 18,794,141 |
Retained earnings | 151,910,115 | 146,225,085 |
Accumulated other comprehensive income | 13,992,557 | 4,114,752 |
Total stockholders' equity | 201,149,902 | 187,579,472 |
Total liabilities and stockholders' equity | $ 1,896,972,434 | $ 1,737,182,505 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, issued (in shares) | 9,122,747 | 9,222,747 |
Common stock, outstanding (in shares) | 9,122,747 | 9,222,747 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Interest and dividend income: | ||||
Loans, including fees | $ 12,569,869 | $ 10,808,142 | $ 25,156,883 | $ 21,509,571 |
Securities: | ||||
Taxable | 1,917,332 | 1,554,713 | 3,738,572 | 3,043,565 |
Tax-exempt | 954,525 | 1,067,955 | 1,864,422 | 2,168,529 |
Other interest and dividend income | 195,703 | 290,465 | 713,015 | 528,033 |
Total interest income | 15,637,429 | 13,721,275 | 31,472,892 | 27,249,698 |
Interest expense: | ||||
Deposits | 1,898,046 | 2,606,384 | 4,548,412 | 4,965,216 |
Other borrowed funds | 59,355 | 184,634 | 198,527 | 383,848 |
Total interest expense | 1,957,401 | 2,791,018 | 4,746,939 | 5,349,064 |
Net interest income | 13,680,028 | 10,930,257 | 26,725,953 | 21,900,634 |
Provision for loan losses | 1,566,476 | 68,320 | 3,882,631 | 166,414 |
Net interest income after provision for loan losses | 12,113,552 | 10,861,937 | 22,843,322 | 21,734,220 |
Noninterest income: | ||||
Securities gains, net | 43,910 | 1,890 | 429,925 | 1,890 |
Gain on sale of loans held for sale | 572,718 | 224,031 | 839,458 | 396,757 |
Other noninterest income | 185,910 | 194,358 | 436,081 | 431,289 |
Total noninterest income | 2,428,224 | 2,212,939 | 5,059,416 | 4,138,647 |
Noninterest expense: | ||||
Salaries and employee benefits | 5,812,449 | 4,797,497 | 11,587,645 | 9,513,325 |
Data processing | 1,336,401 | 872,064 | 2,527,453 | 1,763,445 |
Occupancy expenses, net | 656,752 | 518,559 | 1,347,938 | 1,117,564 |
FDIC insurance assessments | 49,857 | 91,666 | 49,857 | 191,895 |
Professional fees | 397,755 | 382,983 | 741,479 | 771,829 |
Business development | 181,546 | 248,178 | 445,689 | 516,775 |
Intangible asset amortization | 217,223 | 139,314 | 434,446 | 302,978 |
New market tax credit projects amortization | 145,390 | 0 | 290,771 | 0 |
Other operating expenses, net | 302,138 | 167,717 | 724,282 | 496,923 |
Total noninterest expense | 9,099,511 | 7,217,978 | 18,149,560 | 14,674,734 |
Income before income taxes | 5,442,265 | 5,856,898 | 9,753,178 | 11,198,133 |
Provision for income taxes | 1,014,600 | 1,239,305 | 1,771,000 | 2,343,105 |
Net income | $ 4,427,665 | $ 4,617,593 | $ 7,982,178 | $ 8,855,028 |
Basic and diluted earnings per share (in dollars per share) | $ 0.49 | $ 0.50 | $ 0.87 | $ 0.96 |
Cash dividends declared, per share (in dollars per share) | $ 0 | $ 0.24 | $ 0.25 | $ 0.48 |
Fiduciary and Trust [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 909,728 | $ 1,019,143 | $ 1,771,461 | $ 1,803,757 |
Financial Service [Member] | ||||
Noninterest income: | ||||
Noninterest income | 305,544 | 387,133 | 746,237 | 757,429 |
Credit and Debit Card [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 410,414 | $ 386,384 | $ 836,254 | $ 747,525 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income | $ 4,427,665 | $ 4,617,593 | $ 7,982,178 | $ 8,855,028 |
Unrealized holding gains arising during the period | 12,729,731 | 4,469,777 | 13,600,333 | 10,041,561 |
Less: reclassification adjustment for gains realized in net income | 43,910 | 1,890 | 429,925 | 1,890 |
Other comprehensive income, before tax | 12,685,821 | 4,467,887 | 13,170,408 | 10,039,671 |
Tax effect related to other comprehensive income | (3,171,456) | (1,116,972) | (3,292,603) | (2,509,918) |
Other comprehensive income, net of tax | 9,514,365 | 3,350,915 | 9,877,805 | 7,529,753 |
Comprehensive income | $ 13,942,030 | $ 7,968,508 | $ 17,859,983 | $ 16,384,781 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 9,293,305 | ||||
Balance at Dec. 31, 2018 | $ 18,586,610 | $ 20,461,724 | $ 137,891,821 | $ (4,075,091) | $ 172,865,064 |
Net income | 0 | 0 | 8,855,028 | 0 | 8,855,028 |
Other comprehensive income | $ 0 | 0 | 0 | 7,529,753 | 7,529,753 |
Retirement of stock (in shares) | (61,183) | ||||
Retirement of stock | $ (122,366) | (1,441,957) | 0 | 0 | (1,564,323) |
Cash dividends declared | $ 0 | 0 | (4,433,986) | 0 | (4,433,986) |
Balance (in shares) at Jun. 30, 2019 | 9,232,122 | ||||
Balance at Jun. 30, 2019 | $ 18,464,244 | 19,019,767 | 142,312,863 | 3,454,662 | 183,251,536 |
Balance (in shares) at Mar. 31, 2019 | 9,242,822 | ||||
Balance at Mar. 31, 2019 | $ 18,485,644 | 19,276,388 | 139,910,979 | 103,747 | 177,776,758 |
Net income | 0 | 0 | 4,617,593 | 0 | 4,617,593 |
Other comprehensive income | $ 0 | 0 | 0 | 3,350,915 | 3,350,915 |
Retirement of stock (in shares) | (10,700) | ||||
Retirement of stock | $ (21,400) | (256,621) | 0 | 0 | (278,021) |
Cash dividends declared | $ 0 | 0 | (2,215,709) | 0 | (2,215,709) |
Balance (in shares) at Jun. 30, 2019 | 9,232,122 | ||||
Balance at Jun. 30, 2019 | $ 18,464,244 | 19,019,767 | 142,312,863 | 3,454,662 | $ 183,251,536 |
Balance (in shares) at Dec. 31, 2019 | 9,222,747 | 9,222,747 | |||
Balance at Dec. 31, 2019 | $ 18,445,494 | 18,794,141 | 146,225,085 | 4,114,752 | $ 187,579,472 |
Net income | 0 | 0 | 7,982,178 | 0 | 7,982,178 |
Other comprehensive income | $ 0 | 0 | 0 | 9,877,805 | 9,877,805 |
Retirement of stock (in shares) | (100,000) | ||||
Retirement of stock | $ (200,000) | (1,792,405) | (1,992,405) | ||
Cash dividends declared | $ 0 | 0 | (2,297,148) | 0 | $ (2,297,148) |
Balance (in shares) at Jun. 30, 2020 | 9,122,747 | 9,122,747 | |||
Balance at Jun. 30, 2020 | $ 18,245,494 | 17,001,736 | 151,910,115 | 13,992,557 | $ 201,149,902 |
Balance (in shares) at Mar. 31, 2020 | 9,188,594 | ||||
Balance at Mar. 31, 2020 | $ 18,377,188 | 18,155,547 | 147,482,450 | 4,478,192 | 188,493,377 |
Net income | 0 | 0 | 4,427,665 | 0 | 4,427,665 |
Other comprehensive income | $ 0 | 0 | 0 | 9,514,365 | 9,514,365 |
Retirement of stock (in shares) | (65,847) | ||||
Retirement of stock | $ (131,694) | (1,153,811) | 0 | 0 | $ (1,285,505) |
Balance (in shares) at Jun. 30, 2020 | 9,122,747 | 9,122,747 | |||
Balance at Jun. 30, 2020 | $ 18,245,494 | $ 17,001,736 | $ 151,910,115 | $ 13,992,557 | $ 201,149,902 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Cash dividends declared, per share (in dollars per share) | $ 0 | $ 0.24 | $ 0.25 | $ 0.48 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 7,982,178 | $ 8,855,028 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 3,882,631 | 166,414 |
Provision for off-balance sheet commitments | 41,000 | 0 |
Amortization of securities, available-for-sale, loans and deposits, net | 252,269 | 739,633 |
Amortization of intangible asset | 434,446 | 302,978 |
Depreciation | 711,942 | 576,757 |
Deferred income taxes | (946,692) | 125,049 |
Securities (gains), net | (429,925) | (1,890) |
(Gain) on sales of loans held for sale | (839,458) | (396,757) |
Proceeds from loans held for sale | 41,226,181 | 17,485,451 |
Originations of loans held for sale | (39,643,298) | (17,454,352) |
Loss on sale of premises and equipment, net | 0 | 500 |
Amortization of investment in new market tax credit projects | 290,771 | 0 |
(Gain) on sale of other real estate owned, net | (21,958) | (43,414) |
Change in assets and liabilities: | ||
Decrease in accrued income receivable | 986,961 | 417,561 |
(Increase) decrease in other assets | 28,462 | (523,361) |
Increase in accrued expenses and other liabilities | 3,969,853 | 651,186 |
Net cash provided by operating activities | 17,925,363 | 10,900,783 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of securities available-for-sale | (102,224,803) | (35,113,621) |
Proceeds from sale of securities available-for-sale | 5,462,657 | 5,973,154 |
Proceeds from maturities and calls of securities available-for-sale | 75,571,989 | 38,381,532 |
Purchase of FHLB stock | (116,500) | (3,912,500) |
Proceeds from the redemption of FHLB stock | 100,600 | 4,448,000 |
Net (increase) in interest bearing deposits in financial institutions and federal funds sold | (37,043,210) | (41,377,929) |
Net (increase) decrease in loans | (101,265,019) | 16,896,403 |
Net proceeds from the sale of other real estate owned | 3,404,733 | 655,161 |
Purchase of bank premises and equipment | (528,647) | (492,149) |
Cash paid for bank acquired | (309,875) | 0 |
Other | (36,125) | (28,300) |
Net cash (used in) investing activities | (156,984,200) | (14,570,249) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Increase in deposits | 150,614,117 | 23,402,168 |
Decrease in securities sold under agreements to repurchase | (5,140,913) | (8,981,386) |
Payments on FHLB borrowings | (2,000,000) | (12,600,000) |
Dividends paid | (4,510,608) | (4,355,737) |
Stock repurchases | (1,992,405) | (1,564,323) |
Net cash provided by (used in) financing activities | 136,970,191 | (4,099,278) |
Net (decrease) in cash and due from banks | (2,088,646) | (7,768,744) |
CASH AND DUE FROM BANKS | ||
Beginning | 34,616,880 | 30,384,066 |
Ending | 32,528,234 | 22,615,322 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Interest | 5,259,558 | 5,148,519 |
Income taxes | 675,614 | 2,248,474 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES | ||
Transfer of loans receivable to other real estate owned | $ 10,738 | $ 0 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Significant Accounting Policies The consolidated financial statements for the three six June 30, 2020 2019 not may 10 December 31, 2019 ( Goodwill: not not Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions and selecting an appropriate control premium. At June 30, 2020, not Reclassifications: no New and Pending Accounting Pronouncements: June 2016, No. 2016 13, 326 Measurement of Credit Losses on Financial Instruments October 2019, No. 2016 13 December 15, 2022. No. 2016 13 In January 2017, 2017 04, 350 Simplifying the Test for Goodwill Impairment 2 December 15, 2019, January 1, 2017. 2017 04 January 1, 2020 not In August 2018, No. 2018 13, 820 Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. December 15, 2019, 2020 not |
Note 2 - Bank Acquisition
Note 2 - Bank Acquisition | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2. Bank Acquisition On October 25, 2019, October 25, 2019. no The following table summarizes the fair value of the total consideration transferred as a part of the ISSB Acquisition as well as the fair value of identifiable assets acquired and liabilities assumed as of the effective date of the transaction ( in thousands Cash consideration transferred $ 22,643 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 3,188 Federal funds sold 2,792 Interest bearing deposits in financial institutions 21,035 Securities available-for-sale 33,615 Federal Home Loan Bank stock at cost 365 Loans receivable 137,776 Accrued interest receivable 2,888 Bank premises and equipment 2,452 Other real estate owned 3,582 Bank owned life insurance 2,499 Core deposit intangible asset 1,891 Other assets 204 Deposits (188,631 ) Securities sold under repurchase agreements (1,747 ) Accrued interest payable and other liabilities (1,946 ) Total identifiable net assets 19,963 Goodwill $ 2,680 On October 25, 2019, 1 4 first 2020, The acquired loans associated with the ISSB Acquisition at contractual values as of October 25, 2019 in thousands Pass $ 121,346 Watch 12,333 Special Mention - Substandard 6,024 Total loans acquired at book value $ 139,703 The core deposit intangible asset is amortized to expense on a declining basis over a period of ten ten two |
Note 3 - Dividends
Note 3 - Dividends | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Dividends Disclosure [Text Block] | 3. Dividends On July 8, 2020, August 14, 2020 July 31, 2020 |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. Earnings Per Share Earnings per share amounts were calculated using the weighted average shares outstanding during the periods presented. The weighted average outstanding shares for the three June 30, 2020 2019 six June 30, 2020 2019 |
Note 5 - Off-balance Sheet Arra
Note 5 - Off-balance Sheet Arrangements | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Loans and Leases Receivable Commitments [Text Block] | 5. Off-Balance Sheet Arrangements The Company is party to financial instruments with off-balance sheet risk in the normal course of business. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. No December 31, 2019. |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 6. Fair Value Measurements Assets and liabilities carried at fair value are required to be classified and disclosed according to the process for determining fair value. There are three Level 1: Level 2: not Level 3: 3 The following table presents the balances of assets measured at fair value on a recurring basis by level as of June 30, 2020 December 31, 2019 (in thousands) Description Total Level 1 Level 2 Level 3 2020 U.S. government treasuries $ 9,280 $ 9,280 $ - $ - U.S. government agencies 104,288 - 104,288 - U.S. government mortgage-backed securities 107,150 - 107,150 - State and political subdivisions 216,797 - 216,797 - Corporate bonds 76,101 - 76,101 - $ 513,616 $ 9,280 $ 504,336 $ - 2019 U.S. government treasuries $ 9,452 $ 9,452 $ - $ - U.S. government agencies 126,433 - 126,433 - U.S. government mortgage-backed securities 81,128 - 81,128 - State and political subdivisions 195,302 - 195,302 - Corporate bonds 67,528 - 67,528 - $ 479,843 $ 9,452 $ 470,391 $ - Level 1 2 may Certain assets are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment or a change in previously recognized impairment). The following table presents the assets carried on the balance sheet (after specific reserves) by caption and by level within the valuation hierarchy as of June 30, 2020 December 31, 2019 (in thousands) Description Total Level 1 Level 2 Level 3 2020 Loans receivable $ 2,017 $ - $ - $ 2,017 Other real estate owned 632 - - 632 Total $ 2,649 $ - $ - $ 2,649 2019 Loans receivable $ 535 $ - $ - $ 535 Other real estate owned 4,004 - - 4,004 Total $ 4,539 $ - $ - $ 4,539 The significant inputs used in the fair value measurements for Level 3 June 30, 2020 December 31, 2019 (in thousands) 2020 Estimated Valuation Range Fair Value Techniques Unobservable Inputs (Average) Impaired Loans $ 2,017 Evaluation of collateral Estimation of value NM* Other real estate owned $ 632 Appraisal Appraisal adjustment 6% - 8% (7%) 2019 Estimated Valuation Range Fair Value Techniques Unobservable Inputs (Average) Impaired Loans $ 535 Evaluation of collateral Estimation of value NM* Other real estate owned $ 4,004 Appraisal Appraisal adjustment 6% - 8% (7%) * Evaluations of the underlying assets are completed for each collateral dependent impaired loan with a specific reserve. The types of collateral vary widely and could include accounts receivables, inventory, a variety of equipment and real estate. Collateral evaluations are reviewed and discounted as appropriate based on knowledge of the specific type of collateral. In the case of real estate, an independent appraisal may not GAAP requires disclosure of the fair value of financial assets and financial liabilities, including those that are not The following table includes the carrying amounts and estimated fair values of the Company’s financial assets and liabilities as of June 30, 2020 December 31, 2019 (in thousands) : 2020 2019 Fair Value Estimated Estimated Hierarchy Carrying Fair Carrying Fair Level Amount Value Amount Value Financial assets: Cash and due from banks Level 1 $ 32,528 $ 32,528 $ 34,617 $ 34,617 Interest-bearing deposits Level 1 145,991 145,991 108,948 108,948 Securities available-for-sale See previous table 513,616 513,616 479,843 479,843 FHLB and FRB stock Level 2 3,155 3,155 3,139 3,139 Loans receivable, net Level 2 1,146,046 1,106,246 1,048,147 1,025,032 Loans held for sale Level 2 2,033 2,033 2,777 2,777 Accrued income receivable Level 1 10,801 10,801 11,788 11,788 Financial liabilities: Deposits Level 2 $ 1,643,543 $ 1,646,977 $ 1,493,175 $ 1,495,155 Securities sold under agreements to repurchase Level 1 36,893 36,893 42,034 42,034 FHLB advances Level 2 3,000 3,110 5,000 4,935 Accrued interest payable Level 1 966 966 1,163 1,163 The methodologies used to determine fair value as of June 30, 2020 not December 31, 2019 Commitments to extend credit and standby letters of credit not Limitations no |
Note 7 - Debt Securities
Note 7 - Debt Securities | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. Debt Securities The amortized cost of securities available-for-sale and their approximate fair values as of June 30, 2020 December 31, 2019 (in thousands) : 2020: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 8,893 $ 387 $ - $ 9,280 U.S. government agencies 99,091 5,203 (6 ) 104,288 U.S. government mortgage-backed securities 104,063 3,114 (27 ) 107,150 State and political subdivisions 211,593 5,322 (118 ) 216,797 Corporate bonds 71,319 4,793 (11 ) 76,101 $ 494,959 $ 18,819 $ (162 ) $ 513,616 2019: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 9,392 $ 64 $ (4 ) $ 9,452 U.S. government agencies 124,913 1,609 (89 ) 126,433 U.S. government mortgage-backed securities 80,295 867 (34 ) 81,128 State and political subdivisions 193,745 1,852 (295 ) 195,302 Corporate bonds 66,012 1,542 (26 ) 67,528 $ 474,357 $ 5,934 $ (448 ) $ 479,843 The amortized cost and fair value of debt securities available-for-sale as of June 30, 2020, may in thousands Amortized Estimated Cost Fair Value Due in one year or less $ 48,856 $ 49,216 Due after one year through five years 234,542 243,595 Due after five years through ten years 181,220 189,531 Due after ten years 30,341 31,274 Total $ 494,959 $ 513,616 Securities with a carrying value of $197.1 million and $180.0 million at June 30, 2020 December 31, 2019, The proceeds, gains and losses for securities available-for-sale for the three six June 30, 2020 2019 in thousands Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Proceeds from sales of securities available-for-sale $ 2,078 $ 5,973 $ 5,463 $ 5,973 Gross realized gains on securities available-for-sale 44 21 430 21 Gross realized losses on securities available-for-sale - (19 ) - (19 ) Tax provision applicable to net realized gains on securities available-for-sale 11 - 108 - Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are summarized as of June 30, 2020 December 31, 2019 (in thousands) Less than 12 Months 12 Months or More Total 2020: Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Securities available-for-sale: U.S. government treasuries $ - $ - $ - $ - $ - $ - U.S. government agencies 938 (6 ) - - 938 (6 ) U.S. government mortgage-backed securities 11,784 (25 ) 1,712 (2 ) 13,496 (27 ) State and political subdivisions 6,697 (114 ) 180 (4 ) 6,877 (118 ) Corporate bonds 493 (11 ) - - 493 (11 ) $ 19,912 $ (156 ) $ 1,892 $ (6 ) $ 21,804 $ (162 ) Less than 12 Months 12 Months or More Total 2019: Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities available-for-sale: U.S. government treasuries $ 3,023 $ (4 ) $ - $ - $ 3,023 $ (4 ) U.S. government agencies 23,827 (85 ) 2,520 (4 ) 26,347 (89 ) U.S. government mortgage-backed securities 14,885 (28 ) 1,934 (6 ) 16,819 (34 ) State and political subdivisions 17,512 (125 ) 5,954 (170 ) 23,466 (295 ) Corporate bonds 4,129 (26 ) - - 4,129 (26 ) $ 63,376 $ (268 ) $ 10,408 $ (180 ) $ 73,784 $ (448 ) Gross unrealized losses on debt securities totaled $162,000 as of June 30, 2020. not not third not |
Note 8 - Loans Receivable and C
Note 8 - Loans Receivable and Credit Disclosures | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | 8. Loans Receivable and Credit Disclosures The composition of loans receivable as of June 30, 2020 December 31, 2019 in thousands 2020 2019 Real estate - construction $ 51,045 $ 47,895 Real estate - 1 to 4 family residential 205,254 201,510 Real estate - commercial 463,077 435,850 Real estate - agricultural 160,286 160,771 Commercial 1 158,217 84,084 Agricultural 109,066 111,945 Consumer and other 17,704 18,791 1,164,649 1,060,846 Less: Allowance for loan losses (16,005 ) (12,619 ) Deferred loan fees 2 (2,598 ) (80 ) Loans receivable, net $ 1,146,046 $ 1,048,147 1 June 30, 2020 2 June 30, 2020 Activity in the allowance for loan losses, on a disaggregated basis, for the three six June 30, 2020 2019 (in thousands) Three Months Ended June 30, 2020 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, March 31, 2020 $ 753 $ 2,336 $ 6,552 $ 1,563 $ 1,672 $ 1,815 $ 218 $ 14,909 Provision (credit) for loan losses 96 183 724 150 366 15 32 1,566 Recoveries of loans charged-off - 3 1 - 2 - 2 8 Loans charged-off - (17 ) (413 ) - (46 ) - (2 ) (478 ) Balance, June 30, 2020 $ 849 $ 2,505 $ 6,864 $ 1,713 $ 1,994 $ 1,830 $ 250 $ 16,005 Six Months Ended June 30, 2020 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, December 31, 2019 $ 672 $ 2,122 $ 5,362 $ 1,326 $ 1,458 $ 1,478 $ 201 $ 12,619 Provision (credit) for loan losses 176 397 1,944 387 578 352 49 3,883 Recoveries of loans charged-off 1 3 2 - 4 - 4 14 Loans charged-off - (17 ) (444 ) - (46 ) - (4 ) (511 ) Balance, June 30, 2020 $ 849 $ 2,505 $ 6,864 $ 1,713 $ 1,994 $ 1,830 $ 250 $ 16,005 Three Months Ended June 30, 2019 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, March 31, 2019 $ 736 $ 1,850 $ 4,770 $ 1,258 $ 1,610 $ 1,392 $ 196 $ 11,812 Provision (credit) for loan losses (15 ) (1 ) 136 43 (21 ) (61 ) (13 ) 68 Recoveries of loans charged-off - 1 - - 1 1 4 7 Loans charged-off - (3 ) - - - - (15 ) (18 ) Balance, June 30, 2019 $ 721 $ 1,847 $ 4,906 $ 1,301 $ 1,590 $ 1,332 $ 172 $ 11,869 Six Months Ended June 30, 2019 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, December 31, 2018 $ 699 $ 1,820 $ 4,615 $ 1,198 $ 1,777 $ 1,384 $ 191 $ 11,684 Provision (credit) for loan losses 11 27 291 103 (211 ) (53 ) (2 ) 166 Recoveries of loans charged-off 11 3 - - 29 1 4 48 Loans charged-off - (3 ) - - (5 ) - (21 ) (29 ) Balance, June 30, 2019 $ 721 $ 1,847 $ 4,906 $ 1,301 $ 1,590 $ 1,332 $ 172 $ 11,869 Allowance for loan losses disaggregated on the basis of impairment analysis method as of June 30, 2020 December 31, 2019 (in thousands ) 2020 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 150 $ - $ - $ 558 $ 40 $ 6 $ 754 Collectively evaluated for impairment 849 2,355 6,864 1,713 1,436 1,790 244 15,251 Balance June 30, 2020 $ 849 $ 2,505 $ 6,864 $ 1,713 $ 1,994 $ 1,830 $ 250 $ 16,005 2019 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 209 $ - $ - $ - $ - $ - $ 209 Collectively evaluated for impairment 672 1,913 5,362 1,326 1,458 1,478 201 12,410 Balance December 31, 2019 $ 672 $ 2,122 $ 5,362 $ 1,326 $ 1,458 $ 1,478 $ 201 $ 12,619 Loans receivable disaggregated on the basis of impairment analysis method as of June 30, 2020 December 31, 2019 (in thousands) 2020 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,192 $ 11,136 $ 2,063 $ 1,775 $ 1,711 $ 24 $ 17,901 Collectively evaluated for impairment 51,045 204,062 451,941 158,223 156,442 107,355 17,680 1,146,748 Balance June 30, 2020 $ 51,045 $ 205,254 $ 463,077 $ 160,286 $ 158,217 $ 109,066 $ 17,704 $ 1,164,649 2019 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,204 $ 83 $ 84 $ 462 $ 2,951 $ 4 $ 4,788 Collectively evaluated for impairment 47,895 200,306 435,767 160,687 83,622 108,994 18,787 1,056,058 Balance December 31, 2019 $ 47,895 $ 201,510 $ 435,850 $ 160,771 $ 84,084 $ 111,945 $ 18,791 $ 1,060,846 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 payment of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. The Company applies its normal loan review procedures to identify loans that should be evaluated for impairment. Impaired loans, on a disaggregated basis, as of June 30, 2020 December 31, 2019 (in thousands) 2020 2019 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - $ - $ - Real estate - 1 to 4 family residential 224 269 - 460 796 - Real estate - commercial 11,136 11,907 - 83 435 - Real estate - agricultural 2,063 2,079 - 84 97 - Commercial 523 568 - 462 517 - Agricultural 1,178 1,335 - 2,951 3,071 - Consumer and other 6 6 - 4 4 - Total loans with no specific reserve: 15,130 16,164 - 4,044 4,920 - With an allowance recorded: Real estate - construction - - - - - - Real estate - 1 to 4 family residential 968 1,293 150 744 755 209 Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial 1,252 1,252 558 - - - Agricultural 533 535 40 - - - Consumer and other 18 18 6 - - - Total loans with specific reserve: 2,771 3,098 754 744 755 209 Total Real estate - construction - - - - - - Real estate - 1 to 4 family residential 1,192 1,562 150 1,204 1,551 209 Real estate - commercial 11,136 11,907 - 83 435 - Real estate - agricultural 2,063 2,079 - 84 97 - Commercial 1,775 1,820 558 462 517 - Agricultural 1,711 1,870 40 2,951 3,071 - Consumer and other 24 24 6 4 4 - $ 17,901 $ 19,262 $ 754 $ 4,788 $ 5,675 $ 209 Average recorded investment and interest income recognized on impaired loans for the three six June 30, 2020 2019 (in thousands) Three Months Ended June 30, 2020 2019 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - Real estate - 1 to 4 family residential 164 - 209 6 Real estate - commercial 10,877 - 135 29 Real estate - agricultural 1,429 - 78 - Commercial 468 2 235 - Agricultural 2,092 - 943 - Consumer and other 45 - - - Total loans with no specific reserve: 15,075 2 1,600 35 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 1,031 - 89 - Real estate - commercial 488 - - - Real estate - agricultural - - - - Commercial 710 - 2,535 - Agricultural 495 - - - Consumer and other 9 - 7 - Total loans with specific reserve: 2,733 - 2,631 - Total Real estate - construction - - - - Real estate - 1 to 4 family residential 1,195 - 298 6 Real estate - commercial 11,365 - 135 29 Real estate - agricultural 1,429 - 78 - Commercial 1,178 2 2,770 - Agricultural 2,587 - 943 - Consumer and other 54 - 7 - $ 17,808 $ 2 $ 4,231 $ 35 Six Months Ended June 30, 2020 2019 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - Real estate - 1 to 4 family residential 263 - 223 26 Real estate - commercial 7,279 - 133 60 Real estate - agricultural 980 6 76 - Commercial 466 2 239 - Agricultural 2,378 - 629 - Consumer and other 31 - - - Total loans with no specific reserve: 11,397 8 1,300 86 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 935 - 97 - Real estate - commercial 325 - - - Real estate - agricultural - - - - Commercial 473 - 2,490 - Agricultural 330 - - - Consumer and other 6 - 10 1 Total loans with specific reserve: 2,069 - 2,597 1 Total Real estate - construction - - - - Real estate - 1 to 4 family residential 1,198 - 320 26 Real estate - commercial 7,604 - 133 60 Real estate - agricultural 980 6 76 - Commercial 939 2 2,729 - Agricultural 2,708 - 629 - Consumer and other 37 - 10 1 $ 13,466 $ 8 $ 3,897 $ 87 The interest foregone on nonaccrual loans for the three June 30, 2020 2019 six June 30, 2020 2019 Nonaccrual loans at June 30, 2020 December 31, 2019 The Company had loans meeting the definition of a troubled debt restructuring (TDR) of $1,276,000 as of June 30, 2020, December 31, 2019, During the three June 30, 2020 2019, not six June 30, 2020, two second six six June 30, 2019, not 19 not There were no TDR loans that were modified during the six June 30, 2020 twelve June 30, 2019 60 There were $16,000 of net charge-offs related to TDRs for the three June 30, 2020 six June 30, 2020. three six June 30, 2019. In March 2020, 19. 310 40, 19 not six 30 six June 30, 2020. not 19 six An aging analysis of the recorded investments in loans, on a disaggregated basis, as of June 30, 2020 December 31, 2019, (in thousands) 2020 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ 429 $ - $ 429 $ 50,616 $ 51,045 $ - Real estate - 1 to 4 family residential 749 233 982 204,272 205,254 109 Real estate - commercial 4,940 10,325 15,265 447,812 463,077 - Real estate - agricultural 586 2,004 2,590 157,696 160,286 - Commercial 268 1,572 1,840 156,377 158,217 - Agricultural 149 1,747 1,896 107,170 109,066 532 Consumer and other 30 20 50 17,654 17,704 - $ 7,151 $ 15,901 $ 23,052 $ 1,141,597 $ 1,164,649 $ 641 2019 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ 1,796 $ - $ 1,796 $ 46,099 $ 47,895 $ - Real estate - 1 to 4 family residential 811 290 1,101 200,409 201,510 188 Real estate - commercial 387 - 387 435,463 435,850 - Real estate - agricultural 422 - 422 160,349 160,771 - Commercial 518 237 755 83,329 84,084 - Agricultural 666 2,587 3,253 108,692 111,945 62 Consumer and other 146 6 152 18,639 18,791 5 $ 4,746 $ 3,120 $ 7,866 $ 1,052,980 $ 1,060,846 $ 255 The increase in the 90 December 31, 2019 one June 30, 2020. The credit risk profile by internally assigned grade, on a disaggregated basis, as of June 30, 2020 December 31, 2019 (in thousands) 2020 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 38,995 $ 352,549 $ 115,509 $ 135,955 $ 79,597 $ 722,605 Watch 12,050 90,122 33,718 16,302 24,570 176,762 Special Mention - 5,015 - 1,057 - 6,072 Substandard - 4,255 8,996 3,128 3,188 19,567 Substandard-Impaired - 11,136 2,063 1,775 1,711 16,685 $ 51,045 $ 463,077 $ 160,286 $ 158,217 $ 109,066 $ 941,691 2019 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 41,073 $ 387,274 $ 118,692 $ 62,655 $ 90,083 $ 699,777 Watch 6,822 29,209 32,780 16,147 15,248 100,206 Special Mention - 4,581 - - - 4,581 Substandard - 14,703 9,215 4,820 3,663 32,401 Substandard-Impaired - 83 84 462 2,951 3,580 $ 47,895 $ 435,850 $ 160,771 $ 84,084 $ 111,945 $ 840,545 The credit risk profile based on payment activity, on a disaggregated basis, as of June 30, 2020 December 31, 2019 (in thousands ) 2020 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 203,953 $ 17,684 $ 221,637 Non-performing 1,301 20 1,321 $ 205,254 $ 17,704 $ 222,958 2019 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 200,117 $ 18,782 $ 218,899 Non-performing 1,393 9 1,402 $ 201,510 $ 18,791 $ 220,301 |
Note 9 - Goodwill
Note 9 - Goodwill | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 9. Goodwill As a result of the acquisition of ISSB in 2019, fifteen not |
Note 10 - Intangible Assets
Note 10 - Intangible Assets | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 10. Intangible assets In conjunction with the acquisition of ISSB in 2019, June 30, 2020 December 31, 2019 (in thousands) 2020 2019 Gross Accumulated Gross Accumulated Amount Amortization Amount Amortization Core deposit intangible asset $ 6,411 $ 3,140 $ 6,411 $ 2,745 Customer list 535 281 535 242 Total $ 6,946 $ 3,421 $ 6,946 $ 2,987 The weighted average life of the intangible assets is 4.0 years as of June 30, 2020 December 31, 2019. The following sets forth the activity related to the intangible assets for the three six June 30, 2020 2019 (in thousands) Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Beginning intangible assets, net $ 3,742 $ 2,514 $ 3,959 $ 2,678 Amortization (217 ) (139 ) (434 ) (303 ) Ending intangible assets, net $ 3,525 $ 2,375 $ 3,525 $ 2,375 Estimated remaining amortization expense on intangible assets for the years ending December 31 (in thousands) 2020 $ 392 2021 628 2022 574 2023 502 2024 337 2025 301 After 791 Total $ 3,525 |
Note 11 - Pledged Collateral Re
Note 11 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Secured Borrowings [Text Block] | 11. Pledged Collateral Related to Securities Sold Under Repurchase Agreements The repurchase agreements mature daily and the following sets forth the pledged collateral at estimated fair value related to securities sold under repurchase agreements as of June 30, 2020 December 31, 2019 (in thousands) 2020 2019 Securities sold under agreements to repurchase: U.S. government treasuries $ 2,486 $ 3,528 U.S. government agencies 39,793 35,557 U.S. government mortgage-backed securities 14,495 19,614 Total pledged collateral $ 56,774 $ 58,699 In the event the repurchase agreements exceed the estimated fair value of the pledged securities available-for-sale, the Company has unpledged securities available-for-sale that may |
Note 12 - Income Taxes
Note 12 - Income Taxes | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. Income Taxes The tax effects of temporary differences related to income taxes are included in deferred income taxes. The change in deferred income taxes since December 31, 2019 |
Note 13 - Regulatory Matters
Note 13 - Regulatory Matters | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 13. Regulatory Matters On June 30, 2020, 1 8%, $10 2021, 8.5% 9% January 1, 2022. not The Company and the Banks’ capital amounts and ratios as of June 30, 2020 December 31, 2019 dollars in thousands To Be Well Capitalized Under Prompt Corrective Actual Action Provisions Amount Ratio Amount Ratio As of June 30, 2020: Community Bank Leverage Ratio: (Tier 1 capital to average assets for leverage ratio): Boone Bank & Trust $ 13,508 9.3 % $ 11,658 8.0 % First National Bank 84,372 8.7 78,018 8.0 Iowa State Savings Bank 20,913 9.4 17,873 8.0 Reliance State Bank 22,330 9.8 18,283 8.0 State Bank & Trust 15,881 8.8 14,403 8.0 United Bank & Trust 10,204 9.6 8,537 8.0 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk- weighted assets): Consolidated $ 180,834 14.3 % $ 132,878 10.50 % N/A N/A Boone Bank & Trust 14,205 14.1 10,610 10.50 $ 10,105 10.0 % First National Bank 87,375 13.9 66,180 10.50 63,028 10.0 Iowa State Savings Bank 20,610 14.2 15,208 10.50 14,483 10.0 Reliance State Bank 24,487 13.0 19,778 10.50 18,836 10.0 State Bank & Trust 16,800 13.5 13,115 10.50 12,490 10.0 United Bank & Trust 10,775 14.3 7,910 10.50 7,534 10.0 Tier 1 capital (to risk- weighted assets): Consolidated $ 167,514 13.2 % $ 107,568 8.50 % N/A N/A Boone Bank & Trust 13,274 13.1 8,589 8.50 $ 8,084 8.0 % First National Bank 80,665 12.8 53,574 8.50 50,423 8.0 Iowa State Savings Bank 20,151 13.9 12,311 8.50 11,587 8.0 Reliance State Bank 22,166 11.8 16,010 8.50 15,069 8.0 State Bank & Trust 15,233 12.2 10,617 8.50 9,992 8.0 United Bank & Trust 9,955 13.2 6,403 8.50 6,027 8.0 Tier 1 capital (to average- assets): Consolidated $ 167,544 10.1 % $ 66,234 4.00 % N/A N/A Boone Bank & Trust 13,274 9.5 5,604 4.00 $ 7,005 5.0 % First National Bank 80,665 9.3 34,702 4.00 43,378 5.0 Iowa State Savings Bank 20,151 9.5 8,453 4.00 10,567 5.0 Reliance State Bank 22,166 10.0 8,886 4.00 11,108 5.0 State Bank & Trust 15,233 9.5 6,384 4.00 7,980 5.0 United Bank & Trust 9,955 9.8 4,073 4.00 5,091 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 167,544 13.2 % $ 88,585 7.00 % N/A N/A Boone Bank & Trust 13,274 13.1 7,074 7.00 $ 6,568 6.5 % First National Bank 80,665 12.8 44,120 7.00 40,968 6.5 Iowa State Savings Bank 20,151 13.9 10,138 7.00 9,414 6.5 Reliance State Bank 22,166 11.8 13,185 7.00 12,243 6.5 State Bank & Trust 15,233 12.2 8,743 7.00 8,119 6.5 United Bank & Trust 9,955 13.2 5,273 7.00 4,897 6.5 |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 14. Subsequent Events Management evaluated subsequent events through the date the financial statements were issued. There were no June 30, 2020, August 6, 2020, June 30, 2020. July 8, 2020, no not June 30, 2020. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | The consolidated financial statements for the three six June 30, 2020 2019 not may 10 December 31, 2019 ( |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill: not not Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions and selecting an appropriate control premium. At June 30, 2020, not |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications: no |
New Accounting Pronouncements, Policy [Policy Text Block] | New and Pending Accounting Pronouncements: June 2016, No. 2016 13, 326 Measurement of Credit Losses on Financial Instruments October 2019, No. 2016 13 December 15, 2022. No. 2016 13 In January 2017, 2017 04, 350 Simplifying the Test for Goodwill Impairment 2 December 15, 2019, January 1, 2017. 2017 04 January 1, 2020 not In August 2018, No. 2018 13, 820 Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. December 15, 2019, 2020 not |
Note 2 - Bank Acquisition (Tabl
Note 2 - Bank Acquisition (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash consideration transferred $ 22,643 Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 3,188 Federal funds sold 2,792 Interest bearing deposits in financial institutions 21,035 Securities available-for-sale 33,615 Federal Home Loan Bank stock at cost 365 Loans receivable 137,776 Accrued interest receivable 2,888 Bank premises and equipment 2,452 Other real estate owned 3,582 Bank owned life insurance 2,499 Core deposit intangible asset 1,891 Other assets 204 Deposits (188,631 ) Securities sold under repurchase agreements (1,747 ) Accrued interest payable and other liabilities (1,946 ) Total identifiable net assets 19,963 Goodwill $ 2,680 |
Schedule of Business Acquisitions, Acquired Receivables [Table Text Block] | Pass $ 121,346 Watch 12,333 Special Mention - Substandard 6,024 Total loans acquired at book value $ 139,703 |
Note 6 - Fair Value Measureme_2
Note 6 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Description Total Level 1 Level 2 Level 3 2020 U.S. government treasuries $ 9,280 $ 9,280 $ - $ - U.S. government agencies 104,288 - 104,288 - U.S. government mortgage-backed securities 107,150 - 107,150 - State and political subdivisions 216,797 - 216,797 - Corporate bonds 76,101 - 76,101 - $ 513,616 $ 9,280 $ 504,336 $ - 2019 U.S. government treasuries $ 9,452 $ 9,452 $ - $ - U.S. government agencies 126,433 - 126,433 - U.S. government mortgage-backed securities 81,128 - 81,128 - State and political subdivisions 195,302 - 195,302 - Corporate bonds 67,528 - 67,528 - $ 479,843 $ 9,452 $ 470,391 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Description Total Level 1 Level 2 Level 3 2020 Loans receivable $ 2,017 $ - $ - $ 2,017 Other real estate owned 632 - - 632 Total $ 2,649 $ - $ - $ 2,649 2019 Loans receivable $ 535 $ - $ - $ 535 Other real estate owned 4,004 - - 4,004 Total $ 4,539 $ - $ - $ 4,539 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | 2020 Estimated Valuation Range Fair Value Techniques Unobservable Inputs (Average) Impaired Loans $ 2,017 Evaluation of collateral Estimation of value NM* Other real estate owned $ 632 Appraisal Appraisal adjustment 6% - 8% (7%) 2019 Estimated Valuation Range Fair Value Techniques Unobservable Inputs (Average) Impaired Loans $ 535 Evaluation of collateral Estimation of value NM* Other real estate owned $ 4,004 Appraisal Appraisal adjustment 6% - 8% (7%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 2020 2019 Fair Value Estimated Estimated Hierarchy Carrying Fair Carrying Fair Level Amount Value Amount Value Financial assets: Cash and due from banks Level 1 $ 32,528 $ 32,528 $ 34,617 $ 34,617 Interest-bearing deposits Level 1 145,991 145,991 108,948 108,948 Securities available-for-sale See previous table 513,616 513,616 479,843 479,843 FHLB and FRB stock Level 2 3,155 3,155 3,139 3,139 Loans receivable, net Level 2 1,146,046 1,106,246 1,048,147 1,025,032 Loans held for sale Level 2 2,033 2,033 2,777 2,777 Accrued income receivable Level 1 10,801 10,801 11,788 11,788 Financial liabilities: Deposits Level 2 $ 1,643,543 $ 1,646,977 $ 1,493,175 $ 1,495,155 Securities sold under agreements to repurchase Level 1 36,893 36,893 42,034 42,034 FHLB advances Level 2 3,000 3,110 5,000 4,935 Accrued interest payable Level 1 966 966 1,163 1,163 |
Note 7 - Debt Securities (Table
Note 7 - Debt Securities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | 2020: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 8,893 $ 387 $ - $ 9,280 U.S. government agencies 99,091 5,203 (6 ) 104,288 U.S. government mortgage-backed securities 104,063 3,114 (27 ) 107,150 State and political subdivisions 211,593 5,322 (118 ) 216,797 Corporate bonds 71,319 4,793 (11 ) 76,101 $ 494,959 $ 18,819 $ (162 ) $ 513,616 2019: Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value U.S. government treasuries $ 9,392 $ 64 $ (4 ) $ 9,452 U.S. government agencies 124,913 1,609 (89 ) 126,433 U.S. government mortgage-backed securities 80,295 867 (34 ) 81,128 State and political subdivisions 193,745 1,852 (295 ) 195,302 Corporate bonds 66,012 1,542 (26 ) 67,528 $ 474,357 $ 5,934 $ (448 ) $ 479,843 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Estimated Cost Fair Value Due in one year or less $ 48,856 $ 49,216 Due after one year through five years 234,542 243,595 Due after five years through ten years 181,220 189,531 Due after ten years 30,341 31,274 Total $ 494,959 $ 513,616 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Proceeds from sales of securities available-for-sale $ 2,078 $ 5,973 $ 5,463 $ 5,973 Gross realized gains on securities available-for-sale 44 21 430 21 Gross realized losses on securities available-for-sale - (19 ) - (19 ) Tax provision applicable to net realized gains on securities available-for-sale 11 - 108 - |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total 2020: Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Securities available-for-sale: U.S. government treasuries $ - $ - $ - $ - $ - $ - U.S. government agencies 938 (6 ) - - 938 (6 ) U.S. government mortgage-backed securities 11,784 (25 ) 1,712 (2 ) 13,496 (27 ) State and political subdivisions 6,697 (114 ) 180 (4 ) 6,877 (118 ) Corporate bonds 493 (11 ) - - 493 (11 ) $ 19,912 $ (156 ) $ 1,892 $ (6 ) $ 21,804 $ (162 ) Less than 12 Months 12 Months or More Total 2019: Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities available-for-sale: U.S. government treasuries $ 3,023 $ (4 ) $ - $ - $ 3,023 $ (4 ) U.S. government agencies 23,827 (85 ) 2,520 (4 ) 26,347 (89 ) U.S. government mortgage-backed securities 14,885 (28 ) 1,934 (6 ) 16,819 (34 ) State and political subdivisions 17,512 (125 ) 5,954 (170 ) 23,466 (295 ) Corporate bonds 4,129 (26 ) - - 4,129 (26 ) $ 63,376 $ (268 ) $ 10,408 $ (180 ) $ 73,784 $ (448 ) |
Note 8 - Loans Receivable and_2
Note 8 - Loans Receivable and Credit Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Composition of Loans Receivable [Table Text Block] | 2020 2019 Real estate - construction $ 51,045 $ 47,895 Real estate - 1 to 4 family residential 205,254 201,510 Real estate - commercial 463,077 435,850 Real estate - agricultural 160,286 160,771 Commercial 1 158,217 84,084 Agricultural 109,066 111,945 Consumer and other 17,704 18,791 1,164,649 1,060,846 Less: Allowance for loan losses (16,005 ) (12,619 ) Deferred loan fees 2 (2,598 ) (80 ) Loans receivable, net $ 1,146,046 $ 1,048,147 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Three Months Ended June 30, 2020 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, March 31, 2020 $ 753 $ 2,336 $ 6,552 $ 1,563 $ 1,672 $ 1,815 $ 218 $ 14,909 Provision (credit) for loan losses 96 183 724 150 366 15 32 1,566 Recoveries of loans charged-off - 3 1 - 2 - 2 8 Loans charged-off - (17 ) (413 ) - (46 ) - (2 ) (478 ) Balance, June 30, 2020 $ 849 $ 2,505 $ 6,864 $ 1,713 $ 1,994 $ 1,830 $ 250 $ 16,005 Six Months Ended June 30, 2020 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, December 31, 2019 $ 672 $ 2,122 $ 5,362 $ 1,326 $ 1,458 $ 1,478 $ 201 $ 12,619 Provision (credit) for loan losses 176 397 1,944 387 578 352 49 3,883 Recoveries of loans charged-off 1 3 2 - 4 - 4 14 Loans charged-off - (17 ) (444 ) - (46 ) - (4 ) (511 ) Balance, June 30, 2020 $ 849 $ 2,505 $ 6,864 $ 1,713 $ 1,994 $ 1,830 $ 250 $ 16,005 Three Months Ended June 30, 2019 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, March 31, 2019 $ 736 $ 1,850 $ 4,770 $ 1,258 $ 1,610 $ 1,392 $ 196 $ 11,812 Provision (credit) for loan losses (15 ) (1 ) 136 43 (21 ) (61 ) (13 ) 68 Recoveries of loans charged-off - 1 - - 1 1 4 7 Loans charged-off - (3 ) - - - - (15 ) (18 ) Balance, June 30, 2019 $ 721 $ 1,847 $ 4,906 $ 1,301 $ 1,590 $ 1,332 $ 172 $ 11,869 Six Months Ended June 30, 2019 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Balance, December 31, 2018 $ 699 $ 1,820 $ 4,615 $ 1,198 $ 1,777 $ 1,384 $ 191 $ 11,684 Provision (credit) for loan losses 11 27 291 103 (211 ) (53 ) (2 ) 166 Recoveries of loans charged-off 11 3 - - 29 1 4 48 Loans charged-off - (3 ) - - (5 ) - (21 ) (29 ) Balance, June 30, 2019 $ 721 $ 1,847 $ 4,906 $ 1,301 $ 1,590 $ 1,332 $ 172 $ 11,869 |
Allowance for Loan Losses Disaggregated on Basis of Impairment Analysis Method [Table Text Block] | 2020 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 150 $ - $ - $ 558 $ 40 $ 6 $ 754 Collectively evaluated for impairment 849 2,355 6,864 1,713 1,436 1,790 244 15,251 Balance June 30, 2020 $ 849 $ 2,505 $ 6,864 $ 1,713 $ 1,994 $ 1,830 $ 250 $ 16,005 2019 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 209 $ - $ - $ - $ - $ - $ 209 Collectively evaluated for impairment 672 1,913 5,362 1,326 1,458 1,478 201 12,410 Balance December 31, 2019 $ 672 $ 2,122 $ 5,362 $ 1,326 $ 1,458 $ 1,478 $ 201 $ 12,619 |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2020 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,192 $ 11,136 $ 2,063 $ 1,775 $ 1,711 $ 24 $ 17,901 Collectively evaluated for impairment 51,045 204,062 451,941 158,223 156,442 107,355 17,680 1,146,748 Balance June 30, 2020 $ 51,045 $ 205,254 $ 463,077 $ 160,286 $ 158,217 $ 109,066 $ 17,704 $ 1,164,649 2019 1-4 Family Construction Residential Commercial Agricultural Consumer Real Estate Real Estate Real Estate Real Estate Commercial Agricultural and Other Total Individually evaluated for impairment $ - $ 1,204 $ 83 $ 84 $ 462 $ 2,951 $ 4 $ 4,788 Collectively evaluated for impairment 47,895 200,306 435,767 160,687 83,622 108,994 18,787 1,056,058 Balance December 31, 2019 $ 47,895 $ 201,510 $ 435,850 $ 160,771 $ 84,084 $ 111,945 $ 18,791 $ 1,060,846 |
Impaired Financing Receivables [Table Text Block] | 2020 2019 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - $ - $ - Real estate - 1 to 4 family residential 224 269 - 460 796 - Real estate - commercial 11,136 11,907 - 83 435 - Real estate - agricultural 2,063 2,079 - 84 97 - Commercial 523 568 - 462 517 - Agricultural 1,178 1,335 - 2,951 3,071 - Consumer and other 6 6 - 4 4 - Total loans with no specific reserve: 15,130 16,164 - 4,044 4,920 - With an allowance recorded: Real estate - construction - - - - - - Real estate - 1 to 4 family residential 968 1,293 150 744 755 209 Real estate - commercial - - - - - - Real estate - agricultural - - - - - - Commercial 1,252 1,252 558 - - - Agricultural 533 535 40 - - - Consumer and other 18 18 6 - - - Total loans with specific reserve: 2,771 3,098 754 744 755 209 Total Real estate - construction - - - - - - Real estate - 1 to 4 family residential 1,192 1,562 150 1,204 1,551 209 Real estate - commercial 11,136 11,907 - 83 435 - Real estate - agricultural 2,063 2,079 - 84 97 - Commercial 1,775 1,820 558 462 517 - Agricultural 1,711 1,870 40 2,951 3,071 - Consumer and other 24 24 6 4 4 - $ 17,901 $ 19,262 $ 754 $ 4,788 $ 5,675 $ 209 |
Average Investment in Impaired Loans and Interest Income Recognized [Table Text Block] | Three Months Ended June 30, 2020 2019 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - Real estate - 1 to 4 family residential 164 - 209 6 Real estate - commercial 10,877 - 135 29 Real estate - agricultural 1,429 - 78 - Commercial 468 2 235 - Agricultural 2,092 - 943 - Consumer and other 45 - - - Total loans with no specific reserve: 15,075 2 1,600 35 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 1,031 - 89 - Real estate - commercial 488 - - - Real estate - agricultural - - - - Commercial 710 - 2,535 - Agricultural 495 - - - Consumer and other 9 - 7 - Total loans with specific reserve: 2,733 - 2,631 - Total Real estate - construction - - - - Real estate - 1 to 4 family residential 1,195 - 298 6 Real estate - commercial 11,365 - 135 29 Real estate - agricultural 1,429 - 78 - Commercial 1,178 2 2,770 - Agricultural 2,587 - 943 - Consumer and other 54 - 7 - $ 17,808 $ 2 $ 4,231 $ 35 Six Months Ended June 30, 2020 2019 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized With no specific reserve recorded: Real estate - construction $ - $ - $ - $ - Real estate - 1 to 4 family residential 263 - 223 26 Real estate - commercial 7,279 - 133 60 Real estate - agricultural 980 6 76 - Commercial 466 2 239 - Agricultural 2,378 - 629 - Consumer and other 31 - - - Total loans with no specific reserve: 11,397 8 1,300 86 With an allowance recorded: Real estate - construction - - - - Real estate - 1 to 4 family residential 935 - 97 - Real estate - commercial 325 - - - Real estate - agricultural - - - - Commercial 473 - 2,490 - Agricultural 330 - - - Consumer and other 6 - 10 1 Total loans with specific reserve: 2,069 - 2,597 1 Total Real estate - construction - - - - Real estate - 1 to 4 family residential 1,198 - 320 26 Real estate - commercial 7,604 - 133 60 Real estate - agricultural 980 6 76 - Commercial 939 2 2,729 - Agricultural 2,708 - 629 - Consumer and other 37 - 10 1 $ 13,466 $ 8 $ 3,897 $ 87 |
Financing Receivable, Past Due [Table Text Block] | 2020 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ 429 $ - $ 429 $ 50,616 $ 51,045 $ - Real estate - 1 to 4 family residential 749 233 982 204,272 205,254 109 Real estate - commercial 4,940 10,325 15,265 447,812 463,077 - Real estate - agricultural 586 2,004 2,590 157,696 160,286 - Commercial 268 1,572 1,840 156,377 158,217 - Agricultural 149 1,747 1,896 107,170 109,066 532 Consumer and other 30 20 50 17,654 17,704 - $ 7,151 $ 15,901 $ 23,052 $ 1,141,597 $ 1,164,649 $ 641 2019 90 Days 90 Days 30-89 or Greater Total or Greater Past Due Past Due Past Due Current Total Accruing Real estate - construction $ 1,796 $ - $ 1,796 $ 46,099 $ 47,895 $ - Real estate - 1 to 4 family residential 811 290 1,101 200,409 201,510 188 Real estate - commercial 387 - 387 435,463 435,850 - Real estate - agricultural 422 - 422 160,349 160,771 - Commercial 518 237 755 83,329 84,084 - Agricultural 666 2,587 3,253 108,692 111,945 62 Consumer and other 146 6 152 18,639 18,791 5 $ 4,746 $ 3,120 $ 7,866 $ 1,052,980 $ 1,060,846 $ 255 |
Financing Receivable Credit Quality Indicators [Table Text Block] | 2020 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 38,995 $ 352,549 $ 115,509 $ 135,955 $ 79,597 $ 722,605 Watch 12,050 90,122 33,718 16,302 24,570 176,762 Special Mention - 5,015 - 1,057 - 6,072 Substandard - 4,255 8,996 3,128 3,188 19,567 Substandard-Impaired - 11,136 2,063 1,775 1,711 16,685 $ 51,045 $ 463,077 $ 160,286 $ 158,217 $ 109,066 $ 941,691 2019 Construction Commercial Agricultural Real Estate Real Estate Real Estate Commercial Agricultural Total Pass $ 41,073 $ 387,274 $ 118,692 $ 62,655 $ 90,083 $ 699,777 Watch 6,822 29,209 32,780 16,147 15,248 100,206 Special Mention - 4,581 - - - 4,581 Substandard - 14,703 9,215 4,820 3,663 32,401 Substandard-Impaired - 83 84 462 2,951 3,580 $ 47,895 $ 435,850 $ 160,771 $ 84,084 $ 111,945 $ 840,545 |
Credit Risk Profile Based on Payment Activity on Disaggregated Basis [Table Text Block] | 2020 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 203,953 $ 17,684 $ 221,637 Non-performing 1,301 20 1,321 $ 205,254 $ 17,704 $ 222,958 2019 1-4 Family Residential Consumer Real Estate and Other Total Performing $ 200,117 $ 18,782 $ 218,899 Non-performing 1,393 9 1,402 $ 201,510 $ 18,791 $ 220,301 |
Note 10 - Intangible Assets (Ta
Note 10 - Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | 2020 2019 Gross Accumulated Gross Accumulated Amount Amortization Amount Amortization Core deposit intangible asset $ 6,411 $ 3,140 $ 6,411 $ 2,745 Customer list 535 281 535 242 Total $ 6,946 $ 3,421 $ 6,946 $ 2,987 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Beginning intangible assets, net $ 3,742 $ 2,514 $ 3,959 $ 2,678 Amortization (217 ) (139 ) (434 ) (303 ) Ending intangible assets, net $ 3,525 $ 2,375 $ 3,525 $ 2,375 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2020 $ 392 2021 628 2022 574 2023 502 2024 337 2025 301 After 791 Total $ 3,525 |
Note 11 - Pledged Collateral _2
Note 11 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | 2020 2019 Securities sold under agreements to repurchase: U.S. government treasuries $ 2,486 $ 3,528 U.S. government agencies 39,793 35,557 U.S. government mortgage-backed securities 14,495 19,614 Total pledged collateral $ 56,774 $ 58,699 |
Note 13 - Regulatory Matters (T
Note 13 - Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | To Be Well Capitalized Under Prompt Corrective Actual Action Provisions Amount Ratio Amount Ratio As of June 30, 2020: Community Bank Leverage Ratio: (Tier 1 capital to average assets for leverage ratio): Boone Bank & Trust $ 13,508 9.3 % $ 11,658 8.0 % First National Bank 84,372 8.7 78,018 8.0 Iowa State Savings Bank 20,913 9.4 17,873 8.0 Reliance State Bank 22,330 9.8 18,283 8.0 State Bank & Trust 15,881 8.8 14,403 8.0 United Bank & Trust 10,204 9.6 8,537 8.0 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk- weighted assets): Consolidated $ 180,834 14.3 % $ 132,878 10.50 % N/A N/A Boone Bank & Trust 14,205 14.1 10,610 10.50 $ 10,105 10.0 % First National Bank 87,375 13.9 66,180 10.50 63,028 10.0 Iowa State Savings Bank 20,610 14.2 15,208 10.50 14,483 10.0 Reliance State Bank 24,487 13.0 19,778 10.50 18,836 10.0 State Bank & Trust 16,800 13.5 13,115 10.50 12,490 10.0 United Bank & Trust 10,775 14.3 7,910 10.50 7,534 10.0 Tier 1 capital (to risk- weighted assets): Consolidated $ 167,514 13.2 % $ 107,568 8.50 % N/A N/A Boone Bank & Trust 13,274 13.1 8,589 8.50 $ 8,084 8.0 % First National Bank 80,665 12.8 53,574 8.50 50,423 8.0 Iowa State Savings Bank 20,151 13.9 12,311 8.50 11,587 8.0 Reliance State Bank 22,166 11.8 16,010 8.50 15,069 8.0 State Bank & Trust 15,233 12.2 10,617 8.50 9,992 8.0 United Bank & Trust 9,955 13.2 6,403 8.50 6,027 8.0 Tier 1 capital (to average- assets): Consolidated $ 167,544 10.1 % $ 66,234 4.00 % N/A N/A Boone Bank & Trust 13,274 9.5 5,604 4.00 $ 7,005 5.0 % First National Bank 80,665 9.3 34,702 4.00 43,378 5.0 Iowa State Savings Bank 20,151 9.5 8,453 4.00 10,567 5.0 Reliance State Bank 22,166 10.0 8,886 4.00 11,108 5.0 State Bank & Trust 15,233 9.5 6,384 4.00 7,980 5.0 United Bank & Trust 9,955 9.8 4,073 4.00 5,091 5.0 Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 167,544 13.2 % $ 88,585 7.00 % N/A N/A Boone Bank & Trust 13,274 13.1 7,074 7.00 $ 6,568 6.5 % First National Bank 80,665 12.8 44,120 7.00 40,968 6.5 Iowa State Savings Bank 20,151 13.9 10,138 7.00 9,414 6.5 Reliance State Bank 22,166 11.8 13,185 7.00 12,243 6.5 State Bank & Trust 15,233 12.2 8,743 7.00 8,119 6.5 United Bank & Trust 9,955 13.2 5,273 7.00 4,897 6.5 |
Note 1 - Significant Accounti_2
Note 1 - Significant Accounting Policies (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Goodwill, Impairment Loss | $ 0 |
Note 2 - Bank Acquisition (Deta
Note 2 - Bank Acquisition (Details Textual) | Oct. 25, 2019USD ($) | Sep. 14, 2018 | Mar. 31, 2020USD ($) |
Iowa State Savings Bank [Member] | |||
Number of Branches | 4 | ||
Payments to Acquire Businesses, Gross | $ 22,643,000 | ||
Goodwill, Acquired During Period | 2,680,000 | ||
Business Combination, Acquired Receivables, Gross Contractual Amount | 139,703,000 | ||
Business Combination, Deposits, Gross Contractual Amount | 188,068,000 | ||
Goodwill, Acquired During Period | $ 310,000 | ||
Iowa State Savings Bank [Member] | Core Deposits [Member] | |||
Finite-lived Intangible Assets Acquired | $ 1,891,000 | ||
Acquisition of Clarke County State Bank [Member] | |||
Loan Market Valuation Accretion Period (Year) | 10 years | ||
Time Deposit Market Valuation Period (Year) | 2 years | ||
Acquisition of Clarke County State Bank [Member] | Core Deposits [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years |
Note 2 - Bank Acquisition - Con
Note 2 - Bank Acquisition - Consideration Transferred and Assets Acquired and Liabilities Assumed (Details) - USD ($) | Oct. 25, 2019 | Jun. 30, 2020 | Dec. 31, 2019 |
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||
Goodwill | $ 12,424,434 | $ 12,114,559 | |
Iowa State Savings Bank [Member] | |||
Payments to Acquire Businesses, Gross | $ 22,643,000 | ||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||
Cash and due from banks | 3,188,000 | ||
Federal funds sold | 2,792,000 | ||
Interest bearing deposits in financial institutions | 21,035,000 | ||
Securities available-for-sale | 33,615,000 | ||
Federal Home Loan Bank stock at cost | 365,000 | ||
Loans receivable | 137,776,000 | ||
Accrued interest receivable | 2,888,000 | ||
Bank premises and equipment | 2,452,000 | ||
Other real estate owned | 3,582,000 | ||
Bank owned life insurance | 2,499,000 | ||
Core deposit intangible asset | 1,891,000 | ||
Other assets | 204,000 | ||
Deposits | (188,631,000) | ||
Securities sold under repurchase agreements | (1,747,000) | ||
Accrued interest payable and other liabilities | (1,946,000) | ||
Total identifiable net assets | 19,963,000 | ||
Goodwill | $ 2,680,000 |
Note 2 - Bank Acquisitions - Ac
Note 2 - Bank Acquisitions - Acquired Loans at Contractual Values By Risk Rating (Details) - Iowa State Savings Bank [Member] | Oct. 25, 2019USD ($) |
Loans acquired at book value | $ 139,703,000 |
Pass [Member] | |
Loans acquired at book value | 121,346,000 |
Watch [Member] | |
Loans acquired at book value | 12,333,000 |
Special Mention [Member] | |
Loans acquired at book value | 0 |
Substandard [Member] | |
Loans acquired at book value | $ 6,024,000 |
Note 3 - Dividends (Details Tex
Note 3 - Dividends (Details Textual) - $ / shares | Jul. 08, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0 | $ 0.24 | $ 0.25 | $ 0.48 | |
Subsequent Event [Member] | |||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.25 | ||||
Dividends Payable, Date to be Paid | Aug. 14, 2020 | ||||
Dividends Payable, Date of Record | Jul. 31, 2020 |
Note 4 - Earnings Per Share (De
Note 4 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Weighted Average Number of Shares Outstanding, Basic and Diluted (in shares) | 9,128,848 | 9,239,969 | 9,174,021 | 9,250,392 |
Weighted Average Number Diluted Shares Outstanding Adjustment, Total (in shares) | 0 | 0 |
Note 6 - Fair Value Measureme_3
Note 6 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Available for sale securities | $ 513,615,814 | $ 479,843,448 |
US Treasury Securities [Member] | ||
Available for sale securities | 9,280,000 | 9,452,000 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities | 104,288,000 | 126,433,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities | 107,150,000 | 81,128,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 216,797,000 | 195,302,000 |
Corporate Debt Securities [Member] | ||
Available for sale securities | 76,101,000 | 67,528,000 |
Fair Value, Recurring [Member] | ||
Available for sale securities | 513,616,000 | 479,843,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 9,280,000 | 9,452,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 504,336,000 | 470,391,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Available for sale securities | 9,280,000 | 9,452,000 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 9,280,000 | 9,452,000 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available for sale securities | 104,288,000 | 126,433,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 104,288,000 | 126,433,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Available for sale securities | 107,150,000 | 81,128,000 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 107,150,000 | 81,128,000 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities | 216,797,000 | 195,302,000 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 216,797,000 | 195,302,000 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available for sale securities | 76,101,000 | 67,528,000 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | 0 | 0 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities | 76,101,000 | 67,528,000 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities | $ 0 | $ 0 |
Note 6 - Fair Value Measureme_4
Note 6 - Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans receivable | $ 2,017 | $ 535 |
Other real estate owned | 632 | 4,004 |
Total | 2,649 | 4,539 |
Fair Value, Inputs, Level 1 [Member] | ||
Loans receivable | 0 | 0 |
Other real estate owned | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Loans receivable | 0 | 0 |
Other real estate owned | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Loans receivable | 2,017 | 535 |
Other real estate owned | 632 | 4,004 |
Total | $ 2,649 | $ 4,539 |
Note 6 - Fair Value Measureme_5
Note 6 - Fair Value Measurements - Fair Value Quantitative Information (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Estimated Fair Value | $ 2,649 | $ 4,539 |
Fair Value, Inputs, Level 3 [Member] | ||
Estimated Fair Value | 2,649 | 4,539 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Evaluation of Collateral [Member] | ||
Estimated Fair Value | $ 2,017 | 535 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Evaluation of Collateral [Member] | Minimum [Member] | ||
Unobservable Inputs, Rate | ||
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Evaluation of Collateral [Member] | Maximum [Member] | ||
Unobservable Inputs, Rate | ||
Fair Value, Inputs, Level 3 [Member] | Impaired Loan [Member] | Evaluation of Collateral [Member] | Weighted Average [Member] | ||
Unobservable Inputs, Rate | ||
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Appraisal Valuation [Member] | ||
Estimated Fair Value | $ 632 | $ 4,004 |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Minimum [Member] | ||
Unobservable Inputs, Rate | 6.00% | 6.00% |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Maximum [Member] | ||
Unobservable Inputs, Rate | 8.00% | 8.00% |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Appraisal Valuation [Member] | Weighted Average [Member] | ||
Unobservable Inputs, Rate | (7.00%) | (7.00%) |
Note 6 - Fair Value Measureme_6
Note 6 - Fair Value Measurements - Estimated Fair Values of Financial Instruments (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Securities available-for-sale | $ 513,615,814 | $ 479,843,448 |
Accrued income receivable | 10,801,448 | 11,788,409 |
Reported Value Measurement [Member] | ||
Securities available-for-sale | 513,616,000 | 479,843,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 32,528,000 | 34,617,000 |
Interest-bearing deposits | 145,991,000 | 108,948,000 |
Accrued income receivable | 10,801,000 | 11,788,000 |
Securities sold under agreements to repurchase | 36,893,000 | 42,034,000 |
Accrued interest payable | 966,000 | 1,163,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
FHLB and FRB stock | 3,155,000 | 3,139,000 |
Loans receivable, net | 1,146,046,000 | 1,048,147,000 |
Loans held for sale | 2,033,000 | 2,777,000 |
Deposits | 1,643,543,000 | 1,493,175,000 |
FHLB advances | 3,000,000 | 5,000,000 |
Estimate of Fair Value Measurement [Member] | ||
Securities available-for-sale | 513,616,000 | 479,843,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 32,528,000 | 34,617,000 |
Interest-bearing deposits | 145,991,000 | 108,948,000 |
Accrued income receivable | 10,801,000 | 11,788,000 |
Securities sold under agreements to repurchase | 36,893,000 | 42,034,000 |
Accrued interest payable | 966,000 | 1,163,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
FHLB and FRB stock | 3,155,000 | 3,139,000 |
Loans receivable, net | 1,106,246,000 | 1,025,032,000 |
Loans held for sale | 2,033,000 | 2,777,000 |
Deposits | 1,646,977,000 | 1,495,155,000 |
FHLB advances | $ 3,110,000 | $ 4,935,000 |
Note 7 - Debt Securities (Detai
Note 7 - Debt Securities (Details Textual) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale, Restricted | $ 197,100,000 | $ 180,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $ 162,000 | $ 448,000 |
Note 7 - Debt Securities - Secu
Note 7 - Debt Securities - Securities Available-for-sale (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Amortized cost | $ 494,959,000 | $ 474,357,000 |
Gross unrealized gains | 18,819,000 | 5,934,000 |
Gross unrealized losses | (162,000) | (448,000) |
Estimated fair value | 513,615,814 | 479,843,448 |
US Treasury Securities [Member] | ||
Amortized cost | 8,893,000 | 9,392,000 |
Gross unrealized gains | 387,000 | 64,000 |
Gross unrealized losses | 0 | (4,000) |
Estimated fair value | 9,280,000 | 9,452,000 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost | 99,091,000 | 124,913,000 |
Gross unrealized gains | 5,203,000 | 1,609,000 |
Gross unrealized losses | (6,000) | (89,000) |
Estimated fair value | 104,288,000 | 126,433,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 104,063,000 | 80,295,000 |
Gross unrealized gains | 3,114,000 | 867,000 |
Gross unrealized losses | (27,000) | (34,000) |
Estimated fair value | 107,150,000 | 81,128,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 211,593,000 | 193,745,000 |
Gross unrealized gains | 5,322,000 | 1,852,000 |
Gross unrealized losses | (118,000) | (295,000) |
Estimated fair value | 216,797,000 | 195,302,000 |
Corporate Debt Securities [Member] | ||
Amortized cost | 71,319,000 | 66,012,000 |
Gross unrealized gains | 4,793,000 | 1,542,000 |
Gross unrealized losses | (11,000) | (26,000) |
Estimated fair value | $ 76,101,000 | $ 67,528,000 |
Note 7 - Debt Securities - Debt
Note 7 - Debt Securities - Debt Securities Available-for-sale (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Due in one year or less, Amortized cost | $ 48,856,000 | |
Due in one year or less, Estimated fair value | 49,216,000 | |
Due after one year through five years, Amortized cost | 234,542,000 | |
Due after one year through five years, Estimated fair value | 243,595,000 | |
Due after five years through ten years, Amortized cost | 181,220,000 | |
Due after five years through ten years, Estimated fair value | 189,531,000 | |
Due after ten years, Amortized cost | 30,341,000 | |
Due after ten years, Estimated fair value | 31,274,000 | |
Total, amortized cost | 494,959,000 | $ 474,357,000 |
Securities available-for-sale | $ 513,615,814 | $ 479,843,448 |
Note 7 - Debt Securities - Proc
Note 7 - Debt Securities - Proceeds, Gains and Losses From Securities Available-for-sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Proceeds from sales of securities available-for-sale | $ 2,078 | $ 5,973 | $ 5,463 | $ 5,973 |
Gross realized gains on securities available-for-sale | 44 | 21 | 430 | 21 |
Gross realized losses on securities available-for-sale | 0 | (19) | 0 | (19) |
Tax provision applicable to net realized gains on securities available-for-sale | $ 11 | $ 0 | $ 108 | $ 0 |
Note 7 - Debt Securities - Se_2
Note 7 - Debt Securities - Securities Available-for-sale Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Securities available-for-sale: | ||
Less than 12 months, estimated fair value | $ 19,912 | $ 63,376 |
Less than 12 months, unrealized losses | (156) | (268) |
12 months or more, estimated fair value | 1,892 | 10,408 |
12 months or more, unrealized losses | (6) | (180) |
Total estimated fair value | 21,804 | 73,784 |
Total unrealized losses | (162) | (448) |
US Treasury Securities [Member] | ||
Securities available-for-sale: | ||
Less than 12 months, estimated fair value | 0 | 3,023 |
Less than 12 months, unrealized losses | 0 | (4) |
12 months or more, estimated fair value | 0 | 0 |
12 months or more, unrealized losses | 0 | 0 |
Total estimated fair value | 0 | 3,023 |
Total unrealized losses | 0 | (4) |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale: | ||
Less than 12 months, estimated fair value | 938 | 23,827 |
Less than 12 months, unrealized losses | (6) | (85) |
12 months or more, estimated fair value | 0 | 2,520 |
12 months or more, unrealized losses | 0 | (4) |
Total estimated fair value | 938 | 26,347 |
Total unrealized losses | (6) | (89) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available-for-sale: | ||
Less than 12 months, estimated fair value | 11,784 | 14,885 |
Less than 12 months, unrealized losses | (25) | (28) |
12 months or more, estimated fair value | 1,712 | 1,934 |
12 months or more, unrealized losses | (2) | (6) |
Total estimated fair value | 13,496 | 16,819 |
Total unrealized losses | (27) | (34) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale: | ||
Less than 12 months, estimated fair value | 6,697 | 17,512 |
Less than 12 months, unrealized losses | (114) | (125) |
12 months or more, estimated fair value | 180 | 5,954 |
12 months or more, unrealized losses | (4) | (170) |
Total estimated fair value | 6,877 | 23,466 |
Total unrealized losses | (118) | (295) |
Corporate Debt Securities [Member] | ||
Securities available-for-sale: | ||
Less than 12 months, estimated fair value | 493 | 4,129 |
Less than 12 months, unrealized losses | (11) | (26) |
12 months or more, estimated fair value | 0 | 0 |
12 months or more, unrealized losses | 0 | 0 |
Total estimated fair value | 493 | 4,129 |
Total unrealized losses | $ (11) | $ (26) |
Note 8 - Loans Receivable and_3
Note 8 - Loans Receivable and Credit Disclosures (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2019 | Dec. 31, 2019USD ($) | ||
Loans and Leases Receivable, Gross, Total | $ 1,164,649,000 | $ 1,164,649,000 | $ 1,060,846,000 | ||||
Loans and Leases Receivable, Deferred Income, Total | [1] | 2,598,000 | 2,598,000 | 80,000 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 312,000 | $ 59,000 | 501,000 | $ 117,000 | |||
Financing Receivable, Nonaccrual | 17,901,000 | 17,901,000 | 4,788,000 | ||||
Financing Receivable, Troubled Debt Restructuring | $ 1,276,000 | $ 1,276,000 | 1,171,000 | ||||
Number Of Restructured Loans Granting Concessions | 0 | 0 | 2 | 0 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 16,000 | $ 0 | $ 31,000 | $ 0 | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Specific Reserve, Amount | 0 | ||||||
Financing Receivable, Principal and Interest Deferred Payments | 122,778,000 | 122,778,000 | |||||
SBA CARES Act Paycheck Protection Program Member | |||||||
Loans and Leases Receivable, Deferred Income, Total | 2,500,000 | 2,500,000 | |||||
Commercial Portfolio Segment [Member] | |||||||
Loans and Leases Receivable, Gross, Total | [2] | 158,217,000 | 158,217,000 | $ 84,084,000 | |||
Commercial Portfolio Segment [Member] | SBA CARES Act Paycheck Protection Program Member | |||||||
Loans and Leases Receivable, Gross, Total | $ 78,300,000 | $ 78,300,000 | |||||
[1] | Deferred loan fees as of June 30, 2020 includes $2.5 million of fees related to the PPP loans. | ||||||
[2] | Commercial loan portfolio as of June 30, 2020 includes $78.3 million Payroll Protection Program ("PPP") loans |
Note 8 - Loans Receivable and_4
Note 8 - Loans Receivable and Credit Disclosures - Composition of Loans Receivable (Details) - USD ($) | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Loans receivable | $ 1,164,649,000 | $ 1,060,846,000 | |||||
Allowance for loan losses | (16,005,000) | $ (14,909,000) | (12,619,000) | $ (11,869,000) | $ (11,812,000) | $ (11,684,000) | |
Deferred loan fees | [1] | (2,598,000) | (80,000) | ||||
Loans receivable, net | 1,146,046,388 | 1,048,147,496 | |||||
Construction Real Estate [Member] | |||||||
Loans receivable | 51,045,000 | 47,895,000 | |||||
Allowance for loan losses | (849,000) | (753,000) | (672,000) | (721,000) | (736,000) | (699,000) | |
Family Residential Real Estate 1-4 [Member] | |||||||
Loans receivable | 205,254,000 | 201,510,000 | |||||
Allowance for loan losses | (2,505,000) | (2,336,000) | (2,122,000) | (1,847,000) | (1,850,000) | (1,820,000) | |
Commercial Real Estate Portfolio Segment [Member] | |||||||
Loans receivable | 463,077,000 | 435,850,000 | |||||
Allowance for loan losses | (6,864,000) | (6,552,000) | (5,362,000) | (4,906,000) | (4,770,000) | (4,615,000) | |
Agriculture Real Estate [Member] | |||||||
Loans receivable | 160,286,000 | 160,771,000 | |||||
Allowance for loan losses | (1,713,000) | (1,563,000) | (1,326,000) | (1,301,000) | (1,258,000) | (1,198,000) | |
Commercial Portfolio Segment [Member] | |||||||
Loans receivable | [2] | 158,217,000 | 84,084,000 | ||||
Allowance for loan losses | (1,994,000) | (1,672,000) | (1,458,000) | (1,590,000) | (1,610,000) | (1,777,000) | |
Agriculture [Member] | |||||||
Loans receivable | 109,066,000 | 111,945,000 | |||||
Allowance for loan losses | (1,830,000) | (1,815,000) | (1,478,000) | (1,332,000) | (1,392,000) | (1,384,000) | |
Consumer and Other [Member] | |||||||
Loans receivable | 17,704,000 | 18,791,000 | |||||
Allowance for loan losses | $ (250,000) | $ (218,000) | $ (201,000) | $ (172,000) | $ (196,000) | $ (191,000) | |
[1] | Deferred loan fees as of June 30, 2020 includes $2.5 million of fees related to the PPP loans. | ||||||
[2] | Commercial loan portfolio as of June 30, 2020 includes $78.3 million Payroll Protection Program ("PPP") loans |
Note 8 - Loans Receivable and_5
Note 8 - Loans Receivable and Credit Disclosures - Activity in Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Balance | $ 14,909,000 | $ 11,812,000 | $ 12,619,000 | $ 11,684,000 |
Provision for loan losses | 1,566,476 | 68,320 | 3,882,631 | 166,414 |
Recoveries of loans charged-off | 8,000 | 7,000 | 14,000 | 48,000 |
Loans charged-off | (478,000) | (18,000) | (511,000) | (29,000) |
Balance | 16,005,000 | 11,869,000 | 16,005,000 | 11,869,000 |
Construction Real Estate [Member] | ||||
Balance | 753,000 | 736,000 | 672,000 | 699,000 |
Provision for loan losses | 96,000 | (15,000) | 176,000 | 11,000 |
Recoveries of loans charged-off | 0 | 0 | 1,000 | 11,000 |
Loans charged-off | 0 | 0 | 0 | 0 |
Balance | 849,000 | 721,000 | 849,000 | 721,000 |
Family Residential Real Estate 1-4 [Member] | ||||
Balance | 2,336,000 | 1,850,000 | 2,122,000 | 1,820,000 |
Provision for loan losses | 183,000 | (1,000) | 397,000 | 27,000 |
Recoveries of loans charged-off | 3,000 | 1,000 | 3,000 | 3,000 |
Loans charged-off | (17,000) | (3,000) | (17,000) | (3,000) |
Balance | 2,505,000 | 1,847,000 | 2,505,000 | 1,847,000 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 6,552,000 | 4,770,000 | 5,362,000 | 4,615,000 |
Provision for loan losses | 724,000 | 136,000 | 1,944,000 | 291,000 |
Recoveries of loans charged-off | 1,000 | 0 | 2,000 | 0 |
Loans charged-off | (413,000) | 0 | (444,000) | 0 |
Balance | 6,864,000 | 4,906,000 | 6,864,000 | 4,906,000 |
Agriculture Real Estate [Member] | ||||
Balance | 1,563,000 | 1,258,000 | 1,326,000 | 1,198,000 |
Provision for loan losses | 150,000 | 43,000 | 387,000 | 103,000 |
Recoveries of loans charged-off | 0 | 0 | 0 | 0 |
Loans charged-off | 0 | 0 | 0 | 0 |
Balance | 1,713,000 | 1,301,000 | 1,713,000 | 1,301,000 |
Commercial Portfolio Segment [Member] | ||||
Balance | 1,672,000 | 1,610,000 | 1,458,000 | 1,777,000 |
Provision for loan losses | 366,000 | (21,000) | 578,000 | (211,000) |
Recoveries of loans charged-off | 2,000 | 1,000 | 4,000 | 29,000 |
Loans charged-off | (46,000) | 0 | (46,000) | (5,000) |
Balance | 1,994,000 | 1,590,000 | 1,994,000 | 1,590,000 |
Agriculture [Member] | ||||
Balance | 1,815,000 | 1,392,000 | 1,478,000 | 1,384,000 |
Provision for loan losses | 15,000 | (61,000) | 352,000 | (53,000) |
Recoveries of loans charged-off | 0 | 1,000 | 0 | 1,000 |
Loans charged-off | 0 | 0 | 0 | 0 |
Balance | 1,830,000 | 1,332,000 | 1,830,000 | 1,332,000 |
Consumer and Other [Member] | ||||
Balance | 218,000 | 196,000 | 201,000 | 191,000 |
Provision for loan losses | 32,000 | (13,000) | 49,000 | (2,000) |
Recoveries of loans charged-off | 2,000 | 4,000 | 4,000 | 4,000 |
Loans charged-off | (2,000) | (15,000) | (4,000) | (21,000) |
Balance | $ 250,000 | $ 172,000 | $ 250,000 | $ 172,000 |
Note 8 - Loans Receivable and_6
Note 8 - Loans Receivable and Credit Disclosures - Allowance for Loan Losses Impairment Analysis (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Individually evaluated for impairment | $ 754 | $ 209 |
Collectively evaluated for impairment | 15,251 | 12,410 |
Balance | 16,005 | 12,619 |
Construction Real Estate [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 849 | 672 |
Balance | 849 | 672 |
Family Residential Real Estate 1-4 [Member] | ||
Individually evaluated for impairment | 150 | 209 |
Collectively evaluated for impairment | 2,355 | 1,913 |
Balance | 2,505 | 2,122 |
Commercial Real Estate Portfolio Segment [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 6,864 | 5,362 |
Balance | 6,864 | 5,362 |
Agriculture Real Estate [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 1,713 | 1,326 |
Balance | 1,713 | 1,326 |
Commercial Portfolio Segment [Member] | ||
Individually evaluated for impairment | 558 | 0 |
Collectively evaluated for impairment | 1,436 | 1,458 |
Balance | 1,994 | 1,458 |
Agriculture [Member] | ||
Individually evaluated for impairment | 40 | 0 |
Collectively evaluated for impairment | 1,790 | 1,478 |
Balance | 1,830 | 1,478 |
Consumer and Other [Member] | ||
Individually evaluated for impairment | 6 | 0 |
Collectively evaluated for impairment | 244 | 201 |
Balance | $ 250 | $ 201 |
Note 8 - Loans Receivable and_7
Note 8 - Loans Receivable and Credit Disclosures - Loans Receivable Impairment Analysis (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | |
Individually evaluated for impairment | $ 17,901 | $ 4,788 | |
Collectively evaluated for impairment | 1,146,748 | 1,056,058 | |
Balance | 1,164,649 | 1,060,846 | |
Construction Real Estate [Member] | |||
Individually evaluated for impairment | 0 | 0 | |
Collectively evaluated for impairment | 51,045 | 47,895 | |
Balance | 51,045 | 47,895 | |
Family Residential Real Estate 1-4 [Member] | |||
Individually evaluated for impairment | 1,192 | 1,204 | |
Collectively evaluated for impairment | 204,062 | 200,306 | |
Balance | 205,254 | 201,510 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Individually evaluated for impairment | 11,136 | 83 | |
Collectively evaluated for impairment | 451,941 | 435,767 | |
Balance | 463,077 | 435,850 | |
Agriculture Real Estate [Member] | |||
Individually evaluated for impairment | 2,063 | 84 | |
Collectively evaluated for impairment | 158,223 | 160,687 | |
Balance | 160,286 | 160,771 | |
Commercial Portfolio Segment [Member] | |||
Individually evaluated for impairment | 1,775 | 462 | |
Collectively evaluated for impairment | 156,442 | 83,622 | |
Balance | [1] | 158,217 | 84,084 |
Agriculture [Member] | |||
Individually evaluated for impairment | 1,711 | 2,951 | |
Collectively evaluated for impairment | 107,355 | 108,994 | |
Balance | 109,066 | 111,945 | |
Consumer and Other [Member] | |||
Individually evaluated for impairment | 24 | 4 | |
Collectively evaluated for impairment | 17,680 | 18,787 | |
Balance | $ 17,704 | $ 18,791 | |
[1] | Commercial loan portfolio as of June 30, 2020 includes $78.3 million Payroll Protection Program ("PPP") loans |
Note 8 - Loans Receivable and_8
Note 8 - Loans Receivable and Credit Disclosures - Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Impaired financing receivable with no related allowance, recorded investment | $ 15,130 | $ 4,044 |
Impaired financing receivable with no related allowance, unpaid principal balance | 16,164 | 4,920 |
Impaired financing receivable with related allowance, recorded investment | 2,771 | 744 |
Impaired financing receivable with related allowance, unpaid principal balance | 3,098 | 755 |
Impaired financing receivable, related allowance | 754 | 209 |
Impaired financing receivable, recorded investment | 17,901 | 4,788 |
Impaired financing receivable, unpaid principal balance | 19,262 | 5,675 |
Construction Real Estate [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 0 | 0 |
Impaired financing receivable with no related allowance, unpaid principal balance | 0 | 0 |
Impaired financing receivable with related allowance, recorded investment | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 0 |
Impaired financing receivable, related allowance | 0 | 0 |
Impaired financing receivable, recorded investment | 0 | 0 |
Impaired financing receivable, unpaid principal balance | 0 | 0 |
Family Residential Real Estate 1-4 [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 224 | 460 |
Impaired financing receivable with no related allowance, unpaid principal balance | 269 | 796 |
Impaired financing receivable with related allowance, recorded investment | 968 | 744 |
Impaired financing receivable with related allowance, unpaid principal balance | 1,293 | 755 |
Impaired financing receivable, related allowance | 150 | 209 |
Impaired financing receivable, recorded investment | 1,192 | 1,204 |
Impaired financing receivable, unpaid principal balance | 1,562 | 1,551 |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 11,136 | 83 |
Impaired financing receivable with no related allowance, unpaid principal balance | 11,907 | 435 |
Impaired financing receivable with related allowance, recorded investment | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 0 |
Impaired financing receivable, related allowance | 0 | 0 |
Impaired financing receivable, recorded investment | 11,136 | 83 |
Impaired financing receivable, unpaid principal balance | 11,907 | 435 |
Agriculture Real Estate [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 2,063 | 84 |
Impaired financing receivable with no related allowance, unpaid principal balance | 2,079 | 97 |
Impaired financing receivable with related allowance, recorded investment | 0 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 0 | 0 |
Impaired financing receivable, related allowance | 0 | 0 |
Impaired financing receivable, recorded investment | 2,063 | 84 |
Impaired financing receivable, unpaid principal balance | 2,079 | 97 |
Commercial Portfolio Segment [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 523 | 462 |
Impaired financing receivable with no related allowance, unpaid principal balance | 568 | 517 |
Impaired financing receivable with related allowance, recorded investment | 1,252 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 1,252 | 0 |
Impaired financing receivable, related allowance | 558 | 0 |
Impaired financing receivable, recorded investment | 1,775 | 462 |
Impaired financing receivable, unpaid principal balance | 1,820 | 517 |
Agriculture [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 1,178 | 2,951 |
Impaired financing receivable with no related allowance, unpaid principal balance | 1,335 | 3,071 |
Impaired financing receivable with related allowance, recorded investment | 533 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 535 | 0 |
Impaired financing receivable, related allowance | 40 | 0 |
Impaired financing receivable, recorded investment | 1,711 | 2,951 |
Impaired financing receivable, unpaid principal balance | 1,870 | 3,071 |
Consumer and Other [Member] | ||
Impaired financing receivable with no related allowance, recorded investment | 6 | 4 |
Impaired financing receivable with no related allowance, unpaid principal balance | 6 | 4 |
Impaired financing receivable with related allowance, recorded investment | 18 | 0 |
Impaired financing receivable with related allowance, unpaid principal balance | 18 | 0 |
Impaired financing receivable, related allowance | 6 | 0 |
Impaired financing receivable, recorded investment | 24 | 4 |
Impaired financing receivable, unpaid principal balance | $ 24 | $ 4 |
Note 8 - Loans Receivable and_9
Note 8 - Loans Receivable and Credit Disclosures - Average Recorded Investment and Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Impaired financing receivable, with no related allowance, average recorded investment | $ 15,075 | $ 1,600 | $ 11,397 | $ 1,300 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 2 | 35 | 8 | 86 |
Impaired financing receivable, with related allowance, average recorded investment | 2,733 | 2,631 | 2,069 | 2,597 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 1 |
Impaired financing receivable, average recorded investment | 17,808 | 4,231 | 13,466 | 3,897 |
Impaired financing receivable, interest income, accrual method | 2 | 35 | 8 | 87 |
Construction Real Estate [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 0 | 0 | 0 | 0 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, average recorded investment | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 0 | 0 | 0 | 0 |
Impaired financing receivable, interest income, accrual method | 0 | 0 | 0 | 0 |
Family Residential Real Estate 1-4 [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 164 | 209 | 263 | 223 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 6 | 0 | 26 |
Impaired financing receivable, with related allowance, average recorded investment | 1,031 | 89 | 935 | 97 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 1,195 | 298 | 1,198 | 320 |
Impaired financing receivable, interest income, accrual method | 0 | 6 | 0 | 26 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 10,877 | 135 | 7,279 | 133 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 29 | 0 | 60 |
Impaired financing receivable, with related allowance, average recorded investment | 488 | 0 | 325 | 0 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 11,365 | 135 | 7,604 | 133 |
Impaired financing receivable, interest income, accrual method | 0 | 29 | 0 | 60 |
Agriculture Real Estate [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 1,429 | 78 | 980 | 76 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 6 | 0 |
Impaired financing receivable, with related allowance, average recorded investment | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 1,429 | 78 | 980 | 76 |
Impaired financing receivable, interest income, accrual method | 0 | 0 | 6 | 0 |
Commercial Portfolio Segment [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 468 | 235 | 466 | 239 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 2 | 0 | 2 | 0 |
Impaired financing receivable, with related allowance, average recorded investment | 710 | 2,535 | 473 | 2,490 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 1,178 | 2,770 | 939 | 2,729 |
Impaired financing receivable, interest income, accrual method | 2 | 0 | 2 | 0 |
Agriculture [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 2,092 | 943 | 2,378 | 629 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, average recorded investment | 495 | 0 | 330 | 0 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, average recorded investment | 2,587 | 943 | 2,708 | 629 |
Impaired financing receivable, interest income, accrual method | 0 | 0 | 0 | 0 |
Consumer and Other [Member] | ||||
Impaired financing receivable, with no related allowance, average recorded investment | 45 | 0 | 31 | 0 |
Impaired financing receivable, with no related allowance, interest income, accrual method | 0 | 0 | 0 | 0 |
Impaired financing receivable, with related allowance, average recorded investment | 9 | 7 | 6 | 10 |
Impaired financing receivable, with related allowance, interest income, accrual method | 0 | 0 | 0 | 1 |
Impaired financing receivable, average recorded investment | 54 | 7 | 37 | 10 |
Impaired financing receivable, interest income, accrual method | $ 0 | $ 0 | $ 0 | $ 1 |
Note 8 - Loans Receivable an_10
Note 8 - Loans Receivable and Credit Disclosures - Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | |
Financing receivable, recorded investment, past due | $ 23,052 | $ 7,866 | |
Financing receivable, recorded investment, current | 1,141,597 | 1,052,980 | |
Loans receivable | 1,164,649 | 1,060,846 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 641 | 255 | |
Construction Real Estate [Member] | |||
Financing receivable, recorded investment, past due | 429 | 1,796 | |
Financing receivable, recorded investment, current | 50,616 | 46,099 | |
Loans receivable | 51,045 | 47,895 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Family Residential Real Estate 1-4 [Member] | |||
Financing receivable, recorded investment, past due | 982 | 1,101 | |
Financing receivable, recorded investment, current | 204,272 | 200,409 | |
Loans receivable | 205,254 | 201,510 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 109 | 188 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing receivable, recorded investment, past due | 15,265 | 387 | |
Financing receivable, recorded investment, current | 447,812 | 435,463 | |
Loans receivable | 463,077 | 435,850 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Agriculture Real Estate [Member] | |||
Financing receivable, recorded investment, past due | 2,590 | 422 | |
Financing receivable, recorded investment, current | 157,696 | 160,349 | |
Loans receivable | 160,286 | 160,771 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Financing receivable, recorded investment, past due | 1,840 | 755 | |
Financing receivable, recorded investment, current | 156,377 | 83,329 | |
Loans receivable | [1] | 158,217 | 84,084 |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | |
Agriculture [Member] | |||
Financing receivable, recorded investment, past due | 1,896 | 3,253 | |
Financing receivable, recorded investment, current | 107,170 | 108,692 | |
Loans receivable | 109,066 | 111,945 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 532 | 62 | |
Consumer and Other [Member] | |||
Financing receivable, recorded investment, past due | 50 | 152 | |
Financing receivable, recorded investment, current | 17,654 | 18,639 | |
Loans receivable | 17,704 | 18,791 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 5 | |
Financing Receivables 30 to 89 Days Past Due [Member] | |||
Financing receivable, recorded investment, past due | 7,151 | 4,746 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Construction Real Estate [Member] | |||
Financing receivable, recorded investment, past due | 429 | 1,796 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Family Residential Real Estate 1-4 [Member] | |||
Financing receivable, recorded investment, past due | 749 | 811 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Financing receivable, recorded investment, past due | 4,940 | 387 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Agriculture Real Estate [Member] | |||
Financing receivable, recorded investment, past due | 586 | 422 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Financing receivable, recorded investment, past due | 268 | 518 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Agriculture [Member] | |||
Financing receivable, recorded investment, past due | 149 | 666 | |
Financing Receivables 30 to 89 Days Past Due [Member] | Consumer and Other [Member] | |||
Financing receivable, recorded investment, past due | 30 | 146 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing receivable, recorded investment, past due | 15,901 | 3,120 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Real Estate [Member] | |||
Financing receivable, recorded investment, past due | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Family Residential Real Estate 1-4 [Member] | |||
Financing receivable, recorded investment, past due | 233 | 290 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Financing receivable, recorded investment, past due | 10,325 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Agriculture Real Estate [Member] | |||
Financing receivable, recorded investment, past due | 2,004 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Financing receivable, recorded investment, past due | 1,572 | 237 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Agriculture [Member] | |||
Financing receivable, recorded investment, past due | 1,747 | 2,587 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer and Other [Member] | |||
Financing receivable, recorded investment, past due | $ 20 | $ 6 | |
[1] | Commercial loan portfolio as of June 30, 2020 includes $78.3 million Payroll Protection Program ("PPP") loans |
Note 8 - Loans Receivable an_11
Note 8 - Loans Receivable and Credit Disclosures - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loan and lease receivable other than consumer and residential | $ 941,691 | $ 840,545 |
Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 722,605 | 699,777 |
Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 176,762 | 100,206 |
Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 6,072 | 4,581 |
Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 19,567 | 32,401 |
Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 16,685 | 3,580 |
Construction Real Estate [Member] | ||
Loan and lease receivable other than consumer and residential | 51,045 | 47,895 |
Construction Real Estate [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 38,995 | 41,073 |
Construction Real Estate [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 12,050 | 6,822 |
Construction Real Estate [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Construction Real Estate [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Construction Real Estate [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loan and lease receivable other than consumer and residential | 463,077 | 435,850 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 352,549 | 387,274 |
Commercial Real Estate Portfolio Segment [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 90,122 | 29,209 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 5,015 | 4,581 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 4,255 | 14,703 |
Commercial Real Estate Portfolio Segment [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 11,136 | 83 |
Agriculture Real Estate [Member] | ||
Loan and lease receivable other than consumer and residential | 160,286 | 160,771 |
Agriculture Real Estate [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 115,509 | 118,692 |
Agriculture Real Estate [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 33,718 | 32,780 |
Agriculture Real Estate [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Agriculture Real Estate [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 8,996 | 9,215 |
Agriculture Real Estate [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 2,063 | 84 |
Commercial Portfolio Segment [Member] | ||
Loan and lease receivable other than consumer and residential | 158,217 | 84,084 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 135,955 | 62,655 |
Commercial Portfolio Segment [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 16,302 | 16,147 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 1,057 | 0 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 3,128 | 4,820 |
Commercial Portfolio Segment [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | 1,775 | 462 |
Agriculture [Member] | ||
Loan and lease receivable other than consumer and residential | 109,066 | 111,945 |
Agriculture [Member] | Pass [Member] | ||
Loan and lease receivable other than consumer and residential | 79,597 | 90,083 |
Agriculture [Member] | Watch [Member] | ||
Loan and lease receivable other than consumer and residential | 24,570 | 15,248 |
Agriculture [Member] | Special Mention [Member] | ||
Loan and lease receivable other than consumer and residential | 0 | 0 |
Agriculture [Member] | Substandard [Member] | ||
Loan and lease receivable other than consumer and residential | 3,188 | 3,663 |
Agriculture [Member] | Substandard Impaired [Member] | ||
Loan and lease receivable other than consumer and residential | $ 1,711 | $ 2,951 |
Note 8 - Loans Receivable an_12
Note 8 - Loans Receivable and Credit Disclosures - Credit Risk Profile Based on Payment Activity (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loan and lease receivable, consumer and residential | $ 222,958 | $ 220,301 |
Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 221,637 | 218,899 |
Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 1,321 | 1,402 |
Family Residential Real Estate 1-4 [Member] | ||
Loan and lease receivable, consumer and residential | 205,254 | 201,510 |
Family Residential Real Estate 1-4 [Member] | Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 203,953 | 200,117 |
Family Residential Real Estate 1-4 [Member] | Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 1,301 | 1,393 |
Consumer and Other [Member] | ||
Loan and lease receivable, consumer and residential | 17,704 | 18,791 |
Consumer and Other [Member] | Performing Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | 17,684 | 18,782 |
Consumer and Other [Member] | Nonperforming Financial Instruments [Member] | ||
Loan and lease receivable, consumer and residential | $ 20 | $ 9 |
Note 9 - Goodwill (Details Text
Note 9 - Goodwill (Details Textual) | Oct. 25, 2019USD ($) |
Iowa State Savings Bank [Member] | |
Goodwill, Acquired During Period | $ 2,680,000 |
Note 10 - Intangible Assets (De
Note 10 - Intangible Assets (Details Textual) - USD ($) | Oct. 25, 2019 | Jun. 30, 2020 | Dec. 31, 2019 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 4 years | 4 years 2 months 12 days | |
Core Deposits [Member] | Iowa State Savings Bank [Member] | |||
Finite-lived Intangible Assets Acquired | $ 1,891,000 |
Note 10 - Intangible Assets - I
Note 10 - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Intangible asset, gross amount | $ 6,946 | $ 6,946 |
Intangible asset, accumulated amortization | 3,421 | 2,987 |
Core Deposits [Member] | ||
Intangible asset, gross amount | 6,411 | 6,411 |
Intangible asset, accumulated amortization | 3,140 | 2,745 |
Customer Lists [Member] | ||
Intangible asset, gross amount | 535 | 535 |
Intangible asset, accumulated amortization | $ 281 | $ 242 |
Note 10 - Intangible Assets - C
Note 10 - Intangible Assets - Core Deposit Intangible Assets Activity (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Beginning intangible assets, net | $ 3,959,260 | |||
Amortization | $ (217,223) | $ (139,314) | (434,446) | $ (302,978) |
Ending intangible assets, net | 3,524,814 | 3,524,814 | ||
Core Deposits [Member] | ||||
Beginning intangible assets, net | 3,742,000 | 2,514,000 | 3,959,000 | 2,678,000 |
Amortization | (217,000) | (139,000) | (434,000) | (303,000) |
Ending intangible assets, net | $ 3,525,000 | $ 2,375,000 | $ 3,525,000 | $ 2,375,000 |
Note 10 - Intangible Assets - E
Note 10 - Intangible Assets - Estimated Remaining Amortization Expense on Intangible Assets on Core Deposits (Details) - USD ($) | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Total | $ 3,524,814 | $ 3,959,260 | ||||
Core Deposits [Member] | ||||||
2020 | 392,000 | |||||
2021 | 628,000 | |||||
2022 | 574,000 | |||||
2023 | 502,000 | |||||
2024 | 337,000 | |||||
2025 | 301,000 | |||||
After | 791,000 | |||||
Total | $ 3,525,000 | $ 3,742,000 | $ 3,959,000 | $ 2,375,000 | $ 2,514,000 | $ 2,678,000 |
Note 11 - Pledged Collateral _3
Note 11 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements - Pledged Collateral at Estimated Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Maturity Overnight [Member] | ||
Securities sold under agreements to repurchase | $ 56,774 | |
Maturity Overnight [Member] | US Treasury and Government [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 2,486 | |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 39,793 | |
Maturity Overnight [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | $ 14,495 | |
Maturity Greater than 90 Days [Member] | ||
Securities sold under agreements to repurchase | $ 58,699 | |
Maturity Greater than 90 Days [Member] | US Treasury and Government [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 3,528 | |
Maturity Greater than 90 Days [Member] | US Government Agencies Debt Securities [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | 35,557 | |
Maturity Greater than 90 Days [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Collateral Related to Securities Sold Under Agreements to Repurchase [Member] | ||
Securities sold under agreements to repurchase | $ 19,614 |
Note 13 - Regulatory Matters -
Note 13 - Regulatory Matters - Actual Capital Amounts and Ratios (Details) $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Tier one leverage capital | $ 167,544 | |
Tier one leverage capital to average assets | 0.101 | |
Capital | $ 180,834 | |
Capital to risk weighted assets | 0.143 | |
Capital required for capital adequacy | $ 132,878 | |
Capital required for capital adequacy to risk weighted assets | 10.50% | |
Tier one risk based capital | $ 167,514 | |
Tier one risk based capital to risk weighted assets | 0.132 | |
Tier one risk based capital required for capital adequacy | $ 107,568 | |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | |
Tier one leverage capital required for capital adequacy | $ 66,234 | |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | |
Common equity tier one capital | $ 167,544 | |
Common equity tier one risk based capital to risk weighted assets | 0.132 | |
Common equity tier one capital required for capital adequacy | $ 88,585 | |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7.00% | |
Boone Bank and Trust [Member] | ||
Tier one leverage capital | $ 13,508 | $ 13,274 |
Tier one leverage capital to average assets | 0.093 | 0.095 |
Tier one leverage capital required to be well capitalized | $ 11,658 | $ 7,005 |
Tier one leverage capital required to be well capitalized to average assets | 0.080 | 0.050 |
Capital | $ 14,205 | |
Capital to risk weighted assets | 0.141 | |
Capital required for capital adequacy | $ 10,610 | |
Capital required for capital adequacy to risk weighted assets | 10.50% | |
Capital required to be well capitalized | $ 10,105 | |
Capital required to be well capitalized to risk weighted assets | 0.100 | |
Tier one risk based capital | $ 13,274 | |
Tier one risk based capital to risk weighted assets | 0.131 | |
Tier one risk based capital required for capital adequacy | $ 8,589 | |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | |
Tier one risk based capital required to be well capitalized | $ 8,084 | |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | |
Tier one leverage capital required for capital adequacy | $ 5,604 | |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | |
Common equity tier one capital | $ 13,274 | |
Common equity tier one risk based capital to risk weighted assets | 0.131 | |
Common equity tier one capital required for capital adequacy | $ 7,074 | |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7.00% | |
Common equity tier one capital required to be well capitalized | $ 6,568 | |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | |
First National Bank [Member] | Also Conducts Business Out of 3 Full Service Offices in Des Moines Metro Area [Member] | ||
Tier one leverage capital | $ 84,372 | $ 80,665 |
Tier one leverage capital to average assets | 0.087 | 0.093 |
Tier one leverage capital required to be well capitalized | $ 78,018 | $ 43,378 |
Tier one leverage capital required to be well capitalized to average assets | 0.080 | 0.050 |
Capital | $ 87,375 | |
Capital to risk weighted assets | 0.139 | |
Capital required for capital adequacy | $ 66,180 | |
Capital required for capital adequacy to risk weighted assets | 10.50% | |
Capital required to be well capitalized | $ 63,028 | |
Capital required to be well capitalized to risk weighted assets | 0.100 | |
Tier one risk based capital | $ 80,665 | |
Tier one risk based capital to risk weighted assets | 0.128 | |
Tier one risk based capital required for capital adequacy | $ 53,574 | |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | |
Tier one risk based capital required to be well capitalized | $ 50,423 | |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | |
Tier one leverage capital required for capital adequacy | $ 34,702 | |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | |
Common equity tier one capital | $ 80,665 | |
Common equity tier one risk based capital to risk weighted assets | 0.128 | |
Common equity tier one capital required for capital adequacy | $ 44,120 | |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7.00% | |
Common equity tier one capital required to be well capitalized | $ 40,968 | |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | |
Iowa State Savings Bank [Member] | ||
Tier one leverage capital | $ 20,913 | $ 20,151 |
Tier one leverage capital to average assets | 0.094 | 0.095 |
Tier one leverage capital required to be well capitalized | $ 17,873 | $ 10,567 |
Tier one leverage capital required to be well capitalized to average assets | 0.080 | 0.050 |
Capital | $ 20,610 | |
Capital to risk weighted assets | 0.142 | |
Capital required for capital adequacy | $ 15,208 | |
Capital required for capital adequacy to risk weighted assets | 10.50% | |
Capital required to be well capitalized | $ 14,483 | |
Capital required to be well capitalized to risk weighted assets | 0.100 | |
Tier one risk based capital | $ 20,151 | |
Tier one risk based capital to risk weighted assets | 0.139 | |
Tier one risk based capital required for capital adequacy | $ 12,311 | |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | |
Tier one risk based capital required to be well capitalized | $ 11,587 | |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | |
Tier one leverage capital required for capital adequacy | $ 8,453 | |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | |
Common equity tier one capital | $ 20,151 | |
Common equity tier one risk based capital to risk weighted assets | 0.139 | |
Common equity tier one capital required for capital adequacy | $ 10,138 | |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7.00% | |
Common equity tier one capital required to be well capitalized | $ 9,414 | |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | |
Reliance State Bank [Member] | Conducts Business Out of Offices at Story City, Garner, and Kleme, Iowa [Member] | ||
Tier one leverage capital | $ 22,330 | $ 22,166 |
Tier one leverage capital to average assets | 0.098 | 0.100 |
Tier one leverage capital required to be well capitalized | $ 18,283 | $ 11,108 |
Tier one leverage capital required to be well capitalized to average assets | 0.080 | 0.050 |
Capital | $ 24,487 | |
Capital to risk weighted assets | 0.130 | |
Capital required for capital adequacy | $ 19,778 | |
Capital required for capital adequacy to risk weighted assets | 10.50% | |
Capital required to be well capitalized | $ 18,836 | |
Capital required to be well capitalized to risk weighted assets | 0.100 | |
Tier one risk based capital | $ 22,166 | |
Tier one risk based capital to risk weighted assets | 0.118 | |
Tier one risk based capital required for capital adequacy | $ 16,010 | |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | |
Tier one risk based capital required to be well capitalized | $ 15,069 | |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | |
Tier one leverage capital required for capital adequacy | $ 8,886 | |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | |
Common equity tier one capital | $ 22,166 | |
Common equity tier one risk based capital to risk weighted assets | 0.118 | |
Common equity tier one capital required for capital adequacy | $ 13,185 | |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7.00% | |
Common equity tier one capital required to be well capitalized | $ 12,243 | |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | |
State Bank and Trust [Member] | ||
Tier one leverage capital | $ 15,881 | $ 15,233 |
Tier one leverage capital to average assets | 0.088 | 0.095 |
Tier one leverage capital required to be well capitalized | $ 14,403 | $ 7,980 |
Tier one leverage capital required to be well capitalized to average assets | 0.080 | 0.050 |
Capital | $ 16,800 | |
Capital to risk weighted assets | 0.135 | |
Capital required for capital adequacy | $ 13,115 | |
Capital required for capital adequacy to risk weighted assets | 10.50% | |
Capital required to be well capitalized | $ 12,490 | |
Capital required to be well capitalized to risk weighted assets | 0.100 | |
Tier one risk based capital | $ 15,233 | |
Tier one risk based capital to risk weighted assets | 0.122 | |
Tier one risk based capital required for capital adequacy | $ 10,617 | |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | |
Tier one risk based capital required to be well capitalized | $ 9,992 | |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | |
Tier one leverage capital required for capital adequacy | $ 6,384 | |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | |
Common equity tier one capital | $ 15,233 | |
Common equity tier one risk based capital to risk weighted assets | 0.122 | |
Common equity tier one capital required for capital adequacy | $ 8,743 | |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7.00% | |
Common equity tier one capital required to be well capitalized | $ 8,119 | |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% | |
United Bank and Trust [Member] | ||
Tier one leverage capital | $ 10,204 | $ 9,955 |
Tier one leverage capital to average assets | 0.096 | 0.098 |
Tier one leverage capital required to be well capitalized | $ 8,537 | $ 5,091 |
Tier one leverage capital required to be well capitalized to average assets | 0.080 | 0.050 |
Capital | $ 10,775 | |
Capital to risk weighted assets | 0.143 | |
Capital required for capital adequacy | $ 7,910 | |
Capital required for capital adequacy to risk weighted assets | 10.50% | |
Capital required to be well capitalized | $ 7,534 | |
Capital required to be well capitalized to risk weighted assets | 0.100 | |
Tier one risk based capital | $ 9,955 | |
Tier one risk based capital to risk weighted assets | 0.132 | |
Tier one risk based capital required for capital adequacy | $ 6,403 | |
Tier one risk based capital required for capital adequacy to risk weighted assets | 8.50% | |
Tier one risk based capital required to be well capitalized | $ 6,027 | |
Tier one risk based capital required to be well capitalized to risk weighted assets | 0.080 | |
Tier one leverage capital required for capital adequacy | $ 4,073 | |
Tier one leverage capital required for capital adequacy to risk weighted assets | 0.0400 | |
Common equity tier one capital | $ 9,955 | |
Common equity tier one risk based capital to risk weighted assets | 0.132 | |
Common equity tier one capital required for capital adequacy | $ 5,273 | |
Common equity tier one risk based capital required for capital adequacy to risk weighted assets | 7.00% | |
Common equity tier one capital required to be well capitalized | $ 4,897 | |
Common equity tier one capital required to be well capitalized to risk weighted assets | 6.50% |