Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 13, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | Plumas Bancorp | ||
Entity Central Index Key | 1,168,455 | ||
Trading Symbol | plbc | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 4,921,660 | ||
Entity Public Float | $ 38.5 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and cash equivalents | $ 62,646,000 | $ 68,195,000 |
Investment securities available for sale | 101,595,000 | 96,704,000 |
Loans, less allowance for loan losses of $6,549,000 in 2016 and $6,078,000 in 2015 | 456,580,000 | 396,833,000 |
Real estate acquired through foreclosure | 735,000 | 1,756,000 |
Premises and equipment, net | 11,768,000 | 12,234,000 |
Bank owned life insurance | 12,528,000 | 12,187,000 |
Accrued interest receivable and other assets | 12,123,000 | 11,377,000 |
Total assets | 657,975,000 | 599,286,000 |
Deposits: | ||
Non-interest bearing | 236,779,000 | 209,044,000 |
Interest bearing | 345,574,000 | 318,232,000 |
Total deposits | 582,353,000 | 527,276,000 |
Repurchase agreements | 7,547,000 | 7,671,000 |
Note payable | 2,375,000 | 4,875,000 |
Accrued interest payable and other liabilities | 7,396,000 | 6,658,000 |
Junior subordinated deferrable interest debentures | 10,310,000 | 10,310,000 |
Total liabilities | 609,981,000 | 556,790,000 |
Commitments and contingencies (Note 11) | ||
Shareholders' equity: | ||
Serial preferred stock - no par value; 10,000,000 shares authorized; none outstanding | ||
Common stock - no par value; 22,500,000 shares authorized; issued and outstanding – 4,896,875 at December 31, 2016 and 4,835,432 at December 31, 2015 | 5,918,000 | 6,475,000 |
Retained earnings | 43,048,000 | 36,063,000 |
Accumulated other comprehensive loss, net of taxes | (972,000) | (42,000) |
Total shareholders' equity | 47,994,000 | 42,496,000 |
Total liabilities and shareholders' equity | $ 657,975,000 | $ 599,286,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Allowance for loan losses | $ 6,549,000 | $ 6,078,000 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 22,500,000 | 22,500,000 |
Common stock, shares issued (in shares) | 4,896,875 | 4,835,432 |
Common stock, shares outstanding (in shares) | 4,896,875 | 4,835,432 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income: | |||
Interest and fees on loans | $ 22,928,000 | $ 20,747,000 | $ 19,495,000 |
Interest on investment securities: | |||
Taxable | 1,382,000 | 1,351,000 | 1,368,000 |
Exempt from Federal income taxes | 516,000 | 343,000 | 147,000 |
Other | 274,000 | 174,000 | 137,000 |
Total interest income | 25,100,000 | 22,615,000 | 21,147,000 |
Interest expense: | |||
Interest on deposits | 537,000 | 518,000 | 516,000 |
Interest on note payable | 133,000 | 155,000 | 111,000 |
Interest on subordinated debenture | 219,000 | 756,000 | |
Interest on junior subordinated deferrable interest debentures | 348,000 | 306,000 | 303,000 |
Other | 5,000 | 6,000 | 7,000 |
Total interest expense | 1,023,000 | 1,204,000 | 1,693,000 |
Net interest income before provision for loan losses | 24,077,000 | 21,411,000 | 19,454,000 |
Provision for loan losses | 800,000 | 1,100,000 | 1,100,000 |
Net interest income after provision for loan losses | 23,277,000 | 20,311,000 | 18,354,000 |
Non-interest income: | |||
Service charges | 4,031,000 | 3,954,000 | 4,108,000 |
Gain on sale of loans | 1,770,000 | 1,942,000 | 1,396,000 |
Loan servicing fees | 642,000 | 562,000 | 502,000 |
(Loss) gain on sale of investments | (32,000) | 21,000 | 128,000 |
Earnings on bank owned life insurance policies, net | 341,000 | 342,000 | 341,000 |
Other | 900,000 | 894,000 | 840,000 |
Total non-interest income | 7,652,000 | 7,715,000 | 7,315,000 |
Salaries and employee benefits | 10,440,000 | 10,277,000 | 9,474,000 |
Occupancy and equipment | 2,847,000 | 2,782,000 | 2,902,000 |
Other | 5,409,000 | 5,432,000 | 5,469,000 |
Total non-interest expenses | 18,696,000 | 18,491,000 | 17,845,000 |
Income before income taxes | 12,233,000 | 9,535,000 | 7,824,000 |
Provision for income taxes | 4,759,000 | 3,717,000 | 3,086,000 |
Net income | $ 7,474,000 | $ 5,818,000 | $ 4,738,000 |
Basic earnings per common share (in dollars per share) | $ 1.54 | $ 1.21 | $ 0.99 |
Diluted earnings per common share (in dollars per share) | 1.47 | 1.15 | 0.95 |
Common dividends per share (in dollars per share) | $ 0.10 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 7,474,000 | $ 5,818,000 | $ 4,738,000 |
Other comprehensive income (loss): | |||
Change in net unrealized gain (loss) | (1,614,000) | 51,000 | 2,006,000 |
Less: reclassification adjustments for net losses (gains) included in net income | 32,000 | (21,000) | (128,000) |
Net unrealized holding (loss) gain | (1,582,000) | 30,000 | 1,878,000 |
Related income tax effect: | |||
Change in unrealized (gain) loss | 665,000 | (21,000) | (828,000) |
Reclassification of (losses) gains included in net income | (13,000) | 9,000 | 53,000 |
Income tax effect | 652,000 | (12,000) | (775,000) |
Total other comprehensive (loss) income | (930,000) | 18,000 | 1,103,000 |
Comprehensive income | $ 6,544,000 | $ 5,836,000 | $ 5,841,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2013 | 4,787,739 | |||
Balance at Dec. 31, 2013 | $ 6,249,000 | $ 25,507,000 | $ (1,163,000) | $ 30,593,000 |
Net income | 4,738,000 | 4,738,000 | ||
Other comprehensive income | 1,103,000 | 1,103,000 | ||
Exercise of stock options and tax effect (in shares) | 11,400 | |||
Exercise of stock options and tax effect | $ (18,000) | (18,000) | ||
Stock-based compensation expense | $ 81,000 | 81,000 | ||
Balance (in shares) at Dec. 31, 2014 | 4,799,139 | |||
Balance at Dec. 31, 2014 | $ 6,312,000 | 30,245,000 | (60,000) | 36,497,000 |
Net income | 5,818,000 | 5,818,000 | ||
Other comprehensive income | 18,000 | 18,000 | ||
Exercise of stock options and tax effect (in shares) | 39,700 | |||
Exercise of stock options and tax effect | $ 125,000 | 125,000 | ||
Stock-based compensation expense | $ 70,000 | 70,000 | ||
Balance (in shares) at Dec. 31, 2015 | 4,835,432 | |||
Balance at Dec. 31, 2015 | $ 6,475,000 | 36,063,000 | (42,000) | 42,496,000 |
Retirement of common stock in connection with the exercise of stock options (in shares) | (3,407) | |||
Retirement of common stock in connection with the exercise of stock options | $ (32,000) | (32,000) | ||
Net income | 7,474,000 | 7,474,000 | ||
Other comprehensive income | (930,000) | (930,000) | ||
Exercise of stock options and tax effect (in shares) | 61,443 | |||
Exercise of stock options and tax effect | $ 189,000 | 189,000 | ||
Stock-based compensation expense | $ 116,000 | 116,000 | ||
Balance (in shares) at Dec. 31, 2016 | 4,896,875 | |||
Balance at Dec. 31, 2016 | $ 5,918,000 | 43,048,000 | $ (972,000) | 47,994,000 |
Repurchase of common stock warrant | $ (862,000) | (862,000) | ||
Cash dividend on common stock | $ (489,000) | $ (489,000) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | |||
Net income | $ 7,474,000 | $ 5,818,000 | $ 4,738,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 800,000 | 1,100,000 | 1,100,000 |
Change in deferred loan origination costs/fees, net | (491,000) | (350,000) | (752,000) |
Stock-based compensation expense | 116,000 | 70,000 | 81,000 |
Depreciation and amortization | 1,076,000 | 1,151,000 | 1,306,000 |
Amortization of investment security premiums | 650,000 | 506,000 | 487,000 |
Accretion of investment security discounts | (6,000) | (4,000) | (8,000) |
Loss (gain) on sale of investments | 32,000 | (21,000) | (128,000) |
Gain on sale of loans held for sale | (1,770,000) | (1,942,000) | (1,396,000) |
Loans originated for sale | (30,368,000) | (26,699,000) | (22,063,000) |
Proceeds from loan sales | 30,727,000 | 29,430,000 | 21,592,000 |
Provision from change in OREO valuation | 37,000 | 79,000 | 240,000 |
Net gain on sale of OREO | (60,000) | (198,000) | (101,000) |
Net gain on sale of other vehicles owned | (36,000) | (78,000) | (59,000) |
Earnings on bank owned life insurance policies | (341,000) | (342,000) | (341,000) |
(Benefit) provision for deferred income taxes | (660,000) | (539,000) | 1,165,000 |
Decrease (increase) in accrued interest receivable and other assets | 981,000 | (1,294,000) | (620,000) |
Increase in accrued interest payable and other liabilities | 738,000 | 540,000 | 104,000 |
Net cash provided by operating activities | 8,899,000 | 7,227,000 | 5,345,000 |
Cash flows from investing activities: | |||
Proceeds from matured and called available- for-sale investment securities | 4,000,000 | 3,499,000 | 16,044,000 |
Proceeds from sale of available-for-sale securities | 14,589,000 | 12,260,000 | 16,325,000 |
Purchases of available-for-sale investment securities | (39,643,000) | (34,609,000) | (40,511,000) |
Proceeds from principal repayments from available-for-sale government-guaranteed mortgage-backed securities | 13,905,000 | 12,015,000 | 9,692,000 |
Net increase in loans | (60,619,000) | (32,777,000) | (31,733,000) |
Proceeds from sale of vehicles | 331,000 | 445,000 | 318,000 |
Proceeds from sale of other real estate | 2,245,000 | 2,281,000 | 3,399,000 |
Proceeds from sale of premises and equipment | 42,000 | 1,032,000 | |
Purchases of premises and equipment | (600,000) | (2,645,000) | (225,000) |
Net cash used in investing activities | (65,750,000) | (38,499,000) | (26,691,000) |
Cash flows from financing activities: | |||
Net increase in demand, interest-bearing and savings deposits | 57,738,000 | 63,464,000 | 24,793,000 |
Net decrease in time deposits | (2,661,000) | (4,079,000) | (6,341,000) |
Net (decrease) increase in securities sold under agreements to repurchase | (124,000) | (1,955,000) | 517,000 |
Redemption of subordinated debenture | (7,500,000) | ||
Cash dividends paid on common stock | (489,000) | ||
Increase in note payable | 4,000,000 | ||
Payment on note payable | (2,500,000) | (125,000) | (2,000,000) |
Repurchase of common stock warrant | (862,000) | ||
Proceeds from exercise of stock options | 200,000 | 88,000 | 34,000 |
Net cash provided by financing activities | 51,302,000 | 53,893,000 | 17,003,000 |
(Decrease) increase in cash and cash equivalents | (5,549,000) | 22,621,000 | (4,343,000) |
Cash and cash equivalents at beginning of year | 68,195,000 | 45,574,000 | 49,917,000 |
Cash and cash equivalents at end of year | 62,646,000 | 68,195,000 | 45,574,000 |
Cash paid during the year for: | |||
Interest expense | 1,022,000 | 1,172,000 | 1,560,000 |
Income taxes | 5,206,000 | 4,405,000 | 1,916,000 |
Non-cash investing activities: | |||
Real estate acquired through foreclosure | 1,201,000 | 328,000 | 729,000 |
Vehicles acquired through repossession | 277,000 | 382,000 | 211,000 |
Loans provided for sales of real estate owned | $ 2,073,000 | $ 593,000 | $ 95,000 |
Note 1 - The Business of Plumas
Note 1 - The Business of Plumas Bancorp | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. THE BUSINESS OF PLUMAS BANCORP During 2002, one on. This corporate structure gives the Company and the Bank greater flexibility in terms of operation, expansion and diversification. The Company formed Plumas Statutory Trust I ("Trust I") for the sole purpose of issuing trust preferred securities on September 26, 2002. September 28, 2005. The Bank operates eleven December, 2015 branch in Reno, Nevada; its first |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation and Basis of Presentation The consolidated financial statements include the accounts of the Company and the consolidated accounts of its wholly-owned subsi diary, Plumas Bank. All significant intercompany balances and transactions have been eliminated. Plumas Statutory Trust I and Trust II are not consolidated into the Company's consolidated financial statements and, accordingly, are accounted for under the equity method. The Company's investment in Trust I of $319,000 $166,000 The accounting and reporting policies of Plumas Bancorp and subsidiary conform with accounting principles generally accepted in the United States of America and prevailing practices within the banking industry. Reclassifications Certain reclassifications have been made to prior years ’ balances to conform to the classifications used in 2016. Segment Information Management has determined that since all of the banking products and services offered by the Company are available in each branch of the Bank, all branches are located within the same economic environment and management does not allocate resources based on the performance of different lending or transaction activities, it is appropriate to aggregate the Bank branches and report them as a single operating segment. No 10 Use of Estimates To prepare financial statements in conformity with accounting principles generally accepted in the United States of America management makes estimates and assumptions based on available information. These e stimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The allowance for loan losses, loan servicing rights, deferred tax assets, and fair values of financial instruments are particularly subject to change. Cash and Cash Equivalents For the purpose of the statement of cash flows, cash and due from banks and Federal funds sold are considered to be cash equivalents. Generally, Federal funds are sold for one periods. Cash held with other federally insured institutions in excess of FDIC limits as of December 31, 2016 $9.9 Investment Securities Investments are classified into one ● Available-for-sale securities reported at fair value, with unrealized gains and losses excluded from earnings and reported, net of taxes, as accumulated other comprehensive income (loss ) within shareholders' equity. ● Held-to-maturity securities, which management has the positive intent and ability to hold, reported at amortized cost, adjusted for the accretion of discounts and amortization of premiums. As of December 31, 201 6 2015 not Management determines the appropriate classification of its investments at the time of purchase and may stances. As of December 31, 201 6 2015 not An investment security is impaired when its carrying value is greater than its fair value. Investment securities that are im paired are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether such a decline in their fair value is other than temporary. Management utilizes criteria such as the magnitude and duration of the decline and the intent and ability of the Company to retain its investment in the securities for a period of time sufficient to allow for an anticipated recovery in fair value, in addition to the reasons underlying the decline, to determine whether the loss in value is other than temporary. The term "other than temporary" is not intended to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. Once a decline in value is determined to be other than temporary, and management does not intend to sell the security or it is more likely than not that the Company will not be required to sell the security before recovery, only the portion of the impairment loss representing credit exposure is recognized as a charge to earnings, with the balance recognized as a charge to other comprehensive income. If management intends to sell the security or it is more likely than not that the Company will be required to sell the security before recovering its forecasted cost, the entire impairment loss is recognized as a charge to earnings. Inv estment in Federal Home Loan Bank Stock As a member of the Federal Home Loan Bank (FHLB) System, the Bank is required to maintain an investment in the capital stock of the FHLB. The investment is carried at cost classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. At December 31, 2016 December 31, 2015, $2,438,000 $2,380,000, . On the consolidated balance sheet, FHLB stock is included in accrued interest receivable and other assets. Loans Held for Sale, Loan Sales and Servicing Included in the loan portfolio are loans which are 75% 85% s Cooperative Service (RBS) and Farm Services Agency (FSA). The guaranteed portion of these loans may third As of December 31, 201 6 2015 $2.5 $2.1 may Government guaranteed loans with unpaid balances of $ 96,592,000 $86,589,000 December 31, 2016 2015, The Company accounts for the transf er and servicing of financial assets based on the fair value of financial and servicing assets it controls and liabilities it has assumed, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. Se rvicing rights acquired through 1) 2) may The Company's investment in the loan is allocated between the retained portion of the loan and the sold portion of the loan based on their fair values on the date the loan is sold. The gain on the sold portion of the loan is recognized as income at the time of sale. The carrying value of the retained portion of the loan is discounted based on the estimated value of a comparable non-guaranteed loan. Loans Loans that management has the intent and ability to hold for foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of purchase premiums or discounts, deferred loan fees and costs, and an allowance for loan losses. Loans, if any, that are transferred from loans held for sale are carried at the lower of principal balance or market value at the date of transfer, adjusted for accretion of discounts. Interest is accrued daily based upon outstanding loan balances. 90 first Loan origination fees, commitment fees, direct loan origination costs and purchased premiums and discounts on loans are deferred and recognized as an adjustment of yield, to be amortized to interest income over the c ontractual term of the loan. The unamortized balance of deferred fees and costs is reported as a component of net loans. The Company may may ash flows and the cash flows expected to be collected due, at least in part, to credit quality. When the Company acquires such loans, the yield that may h flows expected to be collected over the Company's initial investment in the loan. The excess of contractual cash flows over cash flows expected to be collected may Subsequent increases in cash flows expected to be collected generally should be recognized prospectively through adjustment of the loan's yield over its remaining life. Decreases in cash flows expected to be collected should be recognized as an impairment. The Co mpany may December 31, 2016 2015, Allowance for Loan Losses The allowance for loan losses is an estimate of probable incurred credit losses inherent in the Company's loan portfolio that have been incurred as of the balance-sheet date. The allowance is established through a provision for loan losses which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after credit losses and loan growth. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The overall allowance consists of two A loan is considered impaired when, based on current info rmation and events, it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the original agreement. Loans determined to be impaired are individually evaluated for impairment. When a loan is impaired, the Company measures impairment based on the present value of expected future cash flows discounted at the loan's effective interest rate, except that as a practical expedient, it may A restructuring of a debt consti tutes a troubled debt restructuring (TDR) if the Company, for economic or legal reasons related to the debtor's financial difficulties, grants a concession to the debtor that it would not otherwise consider. Restructured workout loans typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Loans that are reported as TDRs are considered impaired and measured for impairment as described above. The determination of the general r eserve for loans that are not impaired is based on estimates made by management, to include, but not limited to, consideration of historical losses by portfolio segment from January 1, 2008 The Company maintains a separate allowance for each portfolio segment (loan type). These portfolio segments incl ude commercial, agricultural, real estate construction (including land and development loans), commercial real estate mortgage, residential mortgage, home equity loans, automobile loans and other loans primarily consisting of consumer installment loans and credit card receivables. The allowance for loan losses attributable to each portfolio segment, which includes both impaired loans and loans that are not impaired, is combined to determine the Company’s overall allowance, and is included as a component of loans on the consolidated balance sheet. The Company assigns a risk rating to all loans, with the exception of automobile and other loans and periodically, but not less than annually, performs detailed reviews of all such loans over $100,000 lectability of the portfolio. These risk ratings are also subject to examination by independent specialists engaged by the Company and the Company’s regulators. During these internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which borrowers operate and the fair values of collateral securing these loans. These credit quality indicators are used to assign a risk rating to each individual loan. The risk ratings can be grouped in to five Pass – A pass loan is a strong credit with no existing or known potential weaknesses deserving of management's close attention. Watch – A Watch loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may Substandard – A substandard loan is not adequately protected by the current sound worth and paying capacity of the borrower or the value of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Well defined weaknesses include a project's lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time or the project's failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful – Loans classified doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions and values, highly questionable and improbable. Loss – Loans classified as loss are considered uncollectible and charged off immediately. The general reserve component of the allowance for loan losses associated with loans collectively evaluated for impairment also consi sts of reserve factors that are based on management's assessment of the following for each portfolio segment: (1) (2) Commercial – Agricultural – two Real estate – Residential and Home Equity Lines of Credit – may Real estate – Commercial – may Real estate – Construction and Land Development – Automobile – may may Other – Although management believes the allowance to be adequate, ultimate losses may nd management review the adequacy of the allowance, including consideration of the relative risks in the portfolio, current economic conditions and other factors. If the Board of Directors and management determine that changes are warranted based on those reviews, the allowance is adjusted. In addition, the Company's may The Company also maintains a separate allowance for off-balance-sheet commitments. Management estimates anticipated losses using historical data and utilization assumptions. The allowance for these commitments totaled $ 200,000 December 31, 2016 2015 Other Real Estate Other real estate owned relates to real estate acquired in full or partial settlement of loan obligation s, which was $735,000 ($2 ,005,000 $1,270,000) December 31, 2016 $1,756,000 ($3,106,000 $1,350,000) December 31, 2015. $ 84,000 December 31, 2016 2015 four $335 December 31, 2016. one $23 December 31, 2015. $2,245,000, $2,281,000 $3,399,000 December 31, 2016, 2015 2014, December 31, 2016, 2015 2014 $60,000, $198,000 $1 01,000, The following table provides a summary of the change in the OREO balance for the years ended December 31, 2016 2015: Year Ended December 31, 201 6 201 5 Beginning balance $ 1,756,000 $ 3,590,000 Additions 1,200,000 328,000 Dispositions (2,184,000 ) (2,083,000 ) Write-downs (37,000 ) (79,000 ) Ending balance $ 735,000 $ 1,756,000 Intangible Assets Intangible assets consist of core deposit intangibles related to branch acquisitions and are amortized using the straight-line method over a period not to exceed fifteen evaluates the recoverability and remaining useful life annually to determine whether events or circumstances warrant a revision to the intangible asset or the remaining period of amortization. There were no such events or circumstances during the periods presented. At December 31, 2016 2015, $87,000 $94,000, Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful lives of the related assets. The useful lives of premises are estimated to be twenty thirty two ten may Bank Owned Life Insurance The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Income Taxes The Company files its income taxes on a consolidated basis with its subsidiary. Income tax expense is the total of current year income tax due or refundable and the change in de ferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amount of assets and liabilities and their tax bases. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. A valuation allowance is recognized if, based on the weight of available evidence management believes it is more likely than not that some portion or all of the deferred tax assets will not be realized. On the consolidated balance sheet, net deferred tax assets are included in accrued interest receivable and other assets. Accounting for Uncertainty in Income Taxes When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 Interest expense and penalties associated with unrecognized tax benefits, if any, are classified as income tax expense in the consolidated income statement. There have been no December 31, 2016 2015. Earnings Per Share Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common stockholders (net income plus discount on redemption of preferred stock less preferred dividends and accretion) by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted EPS. Comprehensive Income Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale which are also recognized as separate components of equity. The amount reclassif ied out of other accumulated comprehensive income relating to realized (losses) gains on securities available for sale was $(32,000) , $21,000 $128,000 2016, 2015 2014, $(13,000), $9,000 $53,000, Dividend Restrictions Banking regulations require maintaining certain capital levels and may Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates. Stock-Based Compensation Compensation expense related to the Com pany’s Stock Option Plans, net of related tax benefit, recorded in 2016, 2015 2014 $103,000, $70,000 $75,000 $0.02, $0.01 $0.02 The Company determines the fair value of options on the date of grant using a Black-Scholes-Merton option pricing model that uses assumptions based on expected option life, expected stock volatility and the risk-free interest rate . The expected volatility assumptions used by the Company are based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected life of the Company’s stock options. The Company bases its expected life assumption on its historical experience and on the terms and conditions of the stock options it grants to employees. The risk-free rate is based on the U.S. Treasury yield curve for the periods within the contractual life of the options in effect at the time of the grant. The Company also makes assumptions regarding estimated forfeitures that will impact the total compensation expenses recognized under the Plans. During 2016 2014 108,000 110,400 201 6 2014 Expected life of stock options (in years) 5.1 5.2 Risk free interest rate 1.52% 1.64% Volatility 53.6% 63.8% Dividend yields 2.00% 2.00% Weighted-average fair value of options granted during the year $3.55 $3.02 No December 31, 2015. Pending Accounting Pronouncements In May 2014, 2014 09 Revenue from Contracts with Customers. This update to the ASC is the culmination of efforts by the FASB and the International Accounting Standards Board (IASB) to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (IFRS). ASU 2014 09 605 2014 09 5 This update was originally effective for annual reporting periods beginning on or after December 15, 2016 July 2015 2014 09 one ve for annual reporting periods beginning on or after December 15, 2017 have a material impact on revenue most closely associated with financial instruments, including interest income. The Company is currently performing an overall assessment of revenue streams potentially affected by the ASU including deposit related fees and interchange fees to determine the potential impact the new guidance is expected to have on the Company's Consolidated Financial Statements. The Company plans to adopt ASU No. 2014 09 January 1, 2018 On January 5, 2016, 2016 01, –Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. Changes made to the current measurement model primarily affect the accounting for equity securities with readily determinable fair values, where changes in fair value will impact earnings instead of other comprehensive income. The accounting for other financial instruments, such as loans, investments in debt securities, and financial liabilities is largely unchanged. The Update also changes the presentation and disclosure requirements for financial instruments including a requirement that public business entities use exit price when measuring the fair value of financial instruments measured at amortized cost for disclosure purposes. This Update is generally effective for public business entities in fiscal years beginning after December 15, 2017, . 2016 01. 2016 01 impact on the Company's Consolidated Financial Statements; however, the Company will continue to closely monitor developments and additional guidance. On February 25, 2016, 2016 02, The most significant change for lessees is the requirement under the new guidance to recognize right-of-use assets and lease liabilities for all leases not considered short-term leases, which is generally defined as a lease term of less than 12 2016 02 December 15, 2018. two s consolidated statements of condition. The Company expects the new guidance will require some of these lease agreements to now be recognized on the consolidated statements of condition as a right-of-use asset and a corresponding lease liability. Therefore, the Company's preliminary evaluation indicates the provisions of ASU No. 2016 02 On March 30, 2016, ASB issued ASU 2016 09, 2016 09 December 15, 2016. 2016 09 January 1, 2017 did not have a material effect on the Company's financial statements or disclosures. The Company expects adoption of ASU No. 2016 09 In June 2016, 2016 13, . 2016 13 (1) (2) 2016 13 2016 13 December 15, 2019; December 15, 2018. first s Chief Lending Officer and composed of members of the Company's credit administration and accounting departments. The Company's preliminary evaluation indicates the provisions of ASU No. 2016 13 |
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 3. FAIR VALUE MEASUREMENTS The Company measures fair value under the fair value hierarchy described below. Level 1: Level 2: identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable or can be corroborated by observable market data. Level 3: one may In certain cases, the inputs used to measure fair value may Mana gement monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may one Management evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total assets, total liabilities or total earnings. Fair Value of Financial Instruments The carrying amounts and estimated fair values of financial instruments, at December 31, 2016 Fair Value Measurements at December 31, 2016 Using: Carrying Value Level 1 Level 2 Level 3 Total Fair Value Financial assets: Cash and cash equivalents $ 62,646,000 $ 62,646,000 $ 62,646,000 Investment securities 101,595,000 $ 101,595,000 101,595,000 Loans, net 456,580,000 $ 459,618,000 459,618,000 FHLB stock 2,438,000 N/A Accrued interest receivable 2,312,000 7,000 398,000 1,907,000 2,312,000 Financial liabilities: Deposits 582,353,000 532,750,000 49,586,000 582,336,000 Repurchase agreements 7,547,000 7,547,000 7,547,000 Note payable 2,375,000 2,375,000 2,375,000 Junior subordinated deferrable interest debentures 10,310,000 7,762,000 7,762,000 Accrued interest payable 59,000 9,000 36,000 14,000 59,000 The carrying amounts and estimated fair values of financial instruments, at December 31, 2015 Fair Value Measurements at December 31, 2015 Using: Carrying Value Level 1 Level 2 Level 3 Total Fair Value Financial assets: Cash and cash equivalents $ 68,195,000 $ 68,195,000 $ 68,195,000 Investment securities 96,704,000 $ 96,704,000 96,704,000 Loans, net 396,833,000 $ 395,338,000 395,338,000 FHLB stock 2,380,000 N/A Accrued interest receivable 2,048,000 26,000 328,000 1,694,000 2,048,000 Financial liabilities: Deposits 527,276,000 475,013,000 52,287,000 527,300,000 Repurchase agreements 7,671,000 7,671,000 7,671,000 Note payable 4,875,000 4,875,000 4,875,000 Junior subordinated deferrable interest debentures 10,310,000 6,662,000 6,662,000 Accrued interest payable 58,000 8,000 38,000 12,000 58,000 These estimates do not reflect any premium or discount that could result from offering the Company's entire holdings of a particular financial instrument for sale at one ed future business related to the instruments. In addition, the tax ramifications related to the realization of unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of these estimates. The following methods and assumptions were used by management to estimate the fair value of its financial instruments: Cash and cash equivalents: The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. Investment securities: Fair values for securities available for sale are generally determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Loans: Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 3 FHLB stock: It was not practicable to determine the fair value of the FHLB stock due to restrictions placed on its transferability. Deposits: The fair values disclosed for demand deposits, including interest and non-interest demand accounts, savings, and certain types of money market accounts are, by definition, equal to the carrying amount at the reporting date resulting in a Level 1 2 Repurchase agreements: The fair value of securities sold under repurchase agreements is estimated based on bid quotations received from brokers using observable inputs and are included as Level 2. Note payable: The fair value of the Company’s Note Payable is estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 Junior subordinated deferrable interest debentures: The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 Accrued interest and payable: The carrying amounts of accrued interest approximate fair value and are considered to be linked in classification to the asset or liability for which they relate. Commitments to extend credit and letters of credit: The fair value of commitments are estimated using the fees currently charged to enter into similar agreements and are not significant and, therefore, not presented. Commitments to extend credit are primarily for variable rate loans and letters of credit. Because no market exists for a significant portion of the Company's financial instruments, fair value estimates are based on judgments regarding current economic conditions, risk characteristics of various financial instruments and other factors. Those estimates that are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision are included in Level 3. These estimates do not reflect any premium or discount that could result from offering the Company's entire holdings of a particular financial instrument for sale at one The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2016 December 31, 2015, Assets and liabilities measured at fair value on a recurring basis at December 31, 201 6 Fair Value Measurements at December 31, 201 6 Using Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government-sponsored agencies collateralized by mortgage obligations- residential $ 74,911,000 $ 74,911,000 Obligations of states and political subdivisions 26,684,000 26,684,000 $ 101,595,000 $ - $ 101,595,000 $ - Assets and liabilities measured at fair value on a recurring basis at December 31, 2015 Fair Value Measurements at December 31, 2015 Using Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government-sponsored agencies $ 1,977,000 $ 1,977,000 U.S. Government-sponsored agencies collateralized by mortgage obligations- residential 72,370,000 72,370,000 Obligations of states and political subdivisions 22,357,000 22,357,000 $ 96,704,000 $ - $ 96,704,000 $ - The fair value of securities available-for-sale equals quoted market price, if available. If quoted market prices are not available, fair value is determined using quoted market prices for simil ar securities or matrix pricing. There were no changes in the valuation techniques used during 2016 2015. Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2016 Fair Value Measurements at December 31, 201 6 Using Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Assets: Impaired loans: Real estate – commercial $ 453,000 $ $ $ 453,000 $ (81,000 ) Equity lines of credit 83,000 83,000 6,000 Total impaired loans 536,000 - - 536,000 (75,000 ) Other real estate: Real estate – residential 10,000 - - 10,000 - Real estate – commercial 84,000 84,000 (37,000 ) Real estate – construction and land development 641,000 641,000 - Total other real estate 735,000 - - 735,000 (37,000 ) $ 1,271,000 $ - $ - $ 1,271,000 $ (112,000 ) Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2015 below: Fair Value Measurements at December 31, 2015 Using Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Assets: Impaired loans: Real estate – commercial $ 1,214,000 $ $ $ 1,214,000 $ - Real estate – construction and land development 30,000 30,000 (53,000 ) Equity lines of credit 83,000 83,000 6,000 Total impaired loans 1,327,000 - - 1,327,000 (47,000 ) Other real estate: Real estate – commercial 156,000 156,000 (127,000 ) Real estate – construction and land development 1,516,000 1,516,000 75,000 Equity lines of credit 84,000 84,000 (27,000 ) Total other real estate 1,756,000 - - 1,756,000 (79,000 ) $ 3,083,000 $ - $ - $ 3,083,000 $ (126,000 ) The Company has no liabilities which are reported at fair value. The following methods were used to estimate fair value. Collateral-Dependent Impaired Loans : The Bank does not record loans at fair value on a recurring basis. However, from time to time, fair value adjustments are recorded on these loans to reflect partial write-downs, through charge-offs or specific reserve allowances, that are based on fair value estimates of the underlying collateral. The fair value estimates for collateral-dependent impaired loans are generally based on recent real estate appraisals or broker opinions, obtained from independent third 3). $75,000 $47,000 December 31, 2016 2015, Other Real Estate: Nonrecurring adjustments to certain real estate properties classified as other real estate owned are measured at the lower of carrying amount or fair value, less costs to sell. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized. Fair values are generally based on third 3). Appraisals for both collateral-dependent impaired loans and other real estate are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Loan Administration Department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On a quarterly basis, the Company compares the actual selling price of similar collateral that has been liquidated to the most recent appraised value for unsold properties to determine what additional adjustment, if any, should be made to the appraisal value to arrive at fair value. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2016 2015 Range Range Description Fair Value 12/31/201 6 Fair Value 12/31/2015 Valuation Technique Significant Unobservable Input (Weighted Average) 12/31/201 6 (Weighted Average) 12/31/2015 Impaired Loans: RE – Commercial $ 453 $ 1,214 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 12% (12 %) 9% - 12% (10%) Land and Construction $ - $ 30 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 8% (8%) Equity L ines of Credit $ 83 $ 83 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 8% (8%) 8% (8%) Other Real Estate: RE – Residential $ 10 $ - Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 48% (48%) Land and Construction $ 641 $ 1,516 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% - 36% (33%) 10% (10%) RE – Commercial $ 84 $ 156 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 4 0% 0%) 10% (10%) Equity Lines of Credit $ - $ 84 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% (10%) |
Note 4 - Investment Securities
Note 4 - Investment Securities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. INVESTMENT SECURITIES The amortized cost and estimated fair value of investment securities at December 31, 2016 2015 Available-for-Sale 201 6 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations-residential $ 76,207,000 $ 11,000 $ (1,307,000 ) $ 74,911,000 Obligations of states and political subdivisions 27,042,000 89,000 (447,000 ) 26,684,000 $ 103,249,000 $ 100,000 $ (1,754,000 ) $ 101,595,000 U nrealized loss on available-for-sale investment securities totaling $1,654,000 $682,000 December 31, 2016. During the year ended December 31, 2016 fourteen $14,589,000 $32,000 eight $48,000 six $80,000. Available-for-Sale 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Debt securities: U.S. Government-sponsored agencies $ 1,994,000 $ - $ (17,000 ) $ 1,977,000 U.S. Government-sponsored agencies collateralized by mortgage obligations-residential 72,965,000 56,000 (651,000 ) 72,370,000 Obligations of states and political subdivisions 21,817,000 548,000 (8,000 ) 22,357,000 $ 96,776,000 $ 604,000 $ (676,000 ) $ 96,704,000 U nrealized loss on available-for-sale investment securities totaling $72,000 $30,000 December 31, 2015. December 31, 2015 fifteen $12,260,000 $21,000 eight $62,000 seven $41,000. Net unrealized loss on available-for-sale investment securities totaling $102,000 $42,000 loss within shareholders' equity at December 31, 2014. December 31, 2014 fourteen $16,325,000 $128,000 thirteen $134,000 one $6,000. There were no years ended December 31, 2016, 2015 2014. no December 31, 2016 December 31, 2015 . Investment securities with unrealized losses at December 31, 201 6 2015 December 31, 201 6 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Debt securities: U.S. Government agencies collateralized by mortgage obligations-residential $ 68,338,000 $ 1,237,000 $ 2,043,000 $ 70,000 $ 70,381,000 $ 1,307,000 Ob ligations of states and political subdivisions 18,052,000 447,000 - - 18,052,000 447,000 $ 86,390,000 $ 1,684,000 $ 2,043,000 $ 70,000 $ 88,433,000 $ 1,754,000 December 31, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Debt securities: U. S. Government- sponsored agencies $ 1,977,000 $ 17,000 $ - $ - $ 1,977,000 $ 17,000 U.S. Government agencies collateralized by mortgage obligations-residential 45,398,000 327,000 11,880,000 324,000 57,278,000 651,000 Obligations of states and political subdivisions 1,037,000 7,000 160,000 1,000 1,197,000 8,000 $ 48,412,000 $ 351,000 $ 12,040,000 $ 325,000 $ 60,452,000 $ 676,000 At December 31, 201 6, 166 127 123 twelve 127 61 66 December 31, 2016, December 31, 2016 The amortized cost and estimated fair value of investment securities at December 31, 2016 may Amortized Cost Estimated Fair Value After one year through five years $ 898,000 $ 893,000 After five years through ten years 16,052,000 15,978,000 After ten years 10,092,000 9,813,000 Investment securities not due at a single maturity date: Government-sponsored mortgage-backed securities 76,207,000 74,911,000 $ 103,249,000 $ 101,595,000 Investment securities with amortized costs totaling $ 73,331,000 $62,914,000 $72,112,000 $62,483,000 December 31, 2016 2015, |
Note 5 - Loans and the Allowanc
Note 5 - Loans and the Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. LOANS AND THE ALLOWANCE FOR LOAN LOSSES Outstanding loans are summarized below: December 31, 201 6 2015 Commercial $ 41,293,000 $ 37,084,000 Agricultural 51,103,000 39,856,000 Real estate – residential 21,283,000 25,474,000 Real estate – commercial 226,136,000 192,095,000 Real estate – construction & land development 21,904,000 16,188,000 Equity lines of credit 42,338,000 38,327,000 Auto 53,553,000 48,365,000 Other 3,513,000 3,582,000 461,123,000 400,971,000 Deferred loan costs, net 2,006,000 1,940,000 Allowance for loan losses (6,549,000 ) (6,078,000 ) Loans, net $ 456,580,000 $ 396,833,000 Changes in the allowance for loan losses were as follows: Year Ended December 31, 201 6 201 5 201 4 Balance, beginning of year $ 6,078,000 $ 5,451,000 $ 5,517,000 Provision charged to operations 800,000 1,100,000 1,100,000 Losses charged to allowance (979,000 ) (827,000 ) (1,913,000 ) Recoveries 650,000 354,000 747,000 Balance, end of year $ 6,549,000 $ 6,078,000 $ 5,451,000 The recorded investment in impaired loans totaled $5,442,000 $6,461,000 December 31, 2016 2015, $366,000 $1,534,000 December 31, 2016 $751,000 $2,346,000 December 31, 2015. $3,908,000 $4,115,000 December 31, 2016 2015, December 31, 2016, 2015 2014 $5,077,000, $6,528,000 $8,070,000, $149,000, $119,000 $152,000 December 31, 2016, 2015 2014, $29,000, $0 $31,000 Included in impaired loans are troubled debt restructurings. A troubled debt re structuring is a formal restructure of a loan where the Company for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may one In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. The carrying val ue of troubled debt restructurings at December 31, 2016 December 31, 2015 $4,616 ,000 $4,661,000, $342,000 $311,000 December 31, 2016 December 31, 2015, December 31, 2016 December 31, 2015. There were no troubled debt restructurings during the twelve December 31, 2016 2015 . There were no twelve twelve mber 31, 2016 2015 . At December 31, 201 6 2015 , nonaccrual loans totaled $2,724,000 $4,546,000, $164,000, $303,000 $345,000 twelve December 31, 2016, 2015 2014, $29,000 , $0 $31,000 December 31, 2016, 2015 2014, no 90 December 31, 2016 2015. Salaries and e mployee benefits totaling $1,882,000, $1,337,000 $1,441,000 December 31, 2016, 2015 2014, The following tables show the loan portfolio allocated by management's internal risk ratings at the dates indicated, in thousands: December 31, 201 6 Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade Commercial Agricultural Real Estate-Residential Real Estate-Commercial Real Estate-Construction Equity LOC Total Grade: Pass $ 40,459 $ 50,790 $ 21,125 $ 223,854 $ 21,201 $ 41,983 $ 399,412 Watch 565 280 - 400 - - 1,245 Substandard 269 33 158 1,882 703 355 3,400 Doubtful - - - - - - - Total $ 41,293 $ 51,103 $ 21,283 $ 226,136 $ 21,904 $ 42,338 $ 404,057 December 31, 201 5 Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade Commercial Agricultural Real Estate-Residential Real Estate-Commercial Real Estate-Construction Equity LOC Total Grade: Pass $ 35,508 $ 39,426 $ 25,220 $ 185,739 $ 15,048 $ 37,983 $ 338,924 Watch 883 387 149 2,442 247 - 4,108 Substandard 693 43 105 3,914 893 344 5,992 Doubtful - - - - - - - Total $ 37,084 $ 39,856 $ 25,474 $ 192,095 $ 16,188 $ 38,327 $ 349,024 Consumer Credit Exposure Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Credit Risk Profile Based on Payment Activity December 31, 201 6 December 31, 201 5 Auto Other Total Auto Other Total Grade: Performing $ 53,474 $ 3,511 $ 56,985 $ 48,300 $ 3,582 $ 51,882 Non-performing 79 2 81 65 - 65 Total $ 53,553 $ 3,513 $ 57,066 $ 48,365 $ 3,582 $ 51,947 The following tables show the allocation of the allowance for loan losses at the dates indicated, in thousands: Real Estate- Real Estate- Real Estate- Commercial Agricultural Residential Commercial Construction Equity LOC Auto Other Total Year ended 12/31/1 6 : Allowance for Loan Losses Beginning balance $ 639 $ 294 $ 341 $ 2,525 $ 874 $ 528 $ 784 $ 93 $ 6,078 Charge-offs (268 ) - (39 ) (253 ) (5 ) (23 ) (319 ) (72 ) (979 ) Recoveries 53 - 42 3 389 2 131 30 650 Provision 231 172 (64 ) 465 (331 ) 68 219 40 800 Ending balance $ 655 $ 466 $ 280 $ 2,740 $ 927 $ 575 $ 815 $ 91 $ 6,549 Year ended 12/31/1 5 : Allowance for Loan Losses Beginning balance $ 574 $ 225 $ 379 $ 1,701 $ 1,227 $ 691 $ 581 $ 73 $ 5,451 Charge-offs (88 ) (3 ) (132 ) - (55 ) (98 ) (414 ) (37 ) (827 ) Recoveries 167 6 8 - - 6 124 43 354 Provision (14 ) 66 86 824 (298 ) (71 ) 493 14 1,100 Ending balance $ 639 $ 294 $ 341 $ 2,525 $ 874 $ 528 $ 784 $ 93 $ 6,078 Year ended 12/31/1 4 : Allowance for Loan Losses Beginning balance $ 785 $ 164 $ 638 $ 1,774 $ 944 $ 613 $ 449 $ 150 $ 5,517 Charge-offs (191 ) - (127 ) (888 ) (106 ) (205 ) (282 ) (114 ) (1,913 ) Recoveries 89 - 13 6 491 5 73 70 747 Provision (109 ) 61 (145 ) 809 (102 ) 278 341 (33 ) 1,100 Ending balance $ 574 $ 225 $ 379 $ 1,701 $ 1,227 $ 691 $ 581 $ 73 $ 5,451 December 31, 201 6 : Allowance for Loan Losses Ending balance: individually evaluated for impairment $ 2 $ - 53 $ 81 $ 206 $ 24 $ - $ - $ 366 Ending balance: collectively evaluated for impairment $ 653 $ 466 $ 227 $ 2,659 $ 721 $ 551 $ 815 $ 91 $ 6,183 Loans Ending balance $ 41,293 $ 51,103 $ 21,283 $ 226,136 $ 21,904 $ 42,338 $ 53,553 $ 3,513 $ 461,123 Ending balance: individually evaluated for impairment $ 16 $ 258 $ 1,615 $ 2,323 $ 833 $ 326 $ 69 $ 2 $ 5,442 Ending balance: collectively evaluated for impairment $ 41,277 $ 50,845 $ 19,668 $ 223,813 $ 21,071 $ 42,012 $ 53,484 $ 3,511 $ 455,681 The following table shows the allocation of the allowance for loan losses at the date indicated, in thousands: Real Estate- Real Estate- Real Estate- Commercial Agricultural Residential Commercial Construction Equity LOC Auto Other Total December 31, 201 5 : Allowance for Loan Losses Ending balance: individually evaluated for impairment $ 26 $ - 54 $ 371 $ 269 $ 31 $ - $ - $ 751 Ending balance: collectively evaluated for impairment $ 613 $ 294 $ 287 $ 2,154 $ 605 $ 497 $ 784 $ 93 $ 5,327 Loans Ending balance $ 37,084 $ 39,856 $ 25,474 $ 192,095 $ 16,188 $ 38,327 $ 48,365 $ 3,582 $ 400,971 Ending balance: individually evaluated for impairment $ 73 $ 260 $ 1,593 $ 3,129 $ 1,029 $ 311 $ 66 $ - $ 6,461 Ending balance: collectively evaluated for impairment $ 37,011 $ 39,596 $ 23,881 $ 188,966 $ 15,159 $ 38,016 $ 48,299 $ 3,582 $ 394,510 The following tables show an aging analysis of the loan portfolio by the time past due, in thousands: December 31, 201 6 30-89 Days Past Due 90 Days and Still Accruing Nonaccrual Total Past Due and Nonaccrual Current Total Commercial $ 77 $ - $ - $ 77 $ 41,216 $ 41,293 Agricultural - - - - 51,103 51,103 Real estate - residential 179 - 145 324 20,959 21,283 Real estate - commercial 519 - 1,479 1,998 224,138 226,136 Real estate – construction & land 10 - 703 713 21,191 21,904 Equity Lines of Credit 276 - 326 602 41,736 42,338 Auto 919 - 69 988 52,565 53,553 Other 23 - 2 25 3,488 3,513 Total $ 2,003 $ - $ 2,724 $ 4,727 $ 456,396 $ 461,123 December 31, 201 5 30-89 Days Past Due 90 Days and Still Accruing Nonaccrual Total Past Due and Nonaccrual Current Total Commercial $ 457 $ - $ 56 $ 513 $ 36,571 $ 37,084 Agricultural - - - - 39,856 39,856 Real estate - residential 472 - 90 562 24,912 25,474 Real estate - commercial - - 3,130 3,130 188,965 192,095 Real estate – construction & land 9 - 893 902 15,286 16,188 Equity Lines of Credit 8 - 312 320 38,007 38,327 Auto 586 - 65 651 47,714 48,365 Other 15 - - 15 3,567 3,582 Total $ 1,547 $ - $ 4,546 $ 6,093 $ 394,878 $ 400,971 The following tables show information related to impaired loans at the dates indicated, in thousands: As of December 31, 201 6 : Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ - $ - $ - $ - Agricultural 258 258 259 19 Real estate – residential 1,373 1,385 1,291 77 Real estate – commercial 1,789 2,227 1,589 33 Real estate – construction & land 198 198 210 - Equity Lines of Credit 219 219 121 - Auto 69 69 46 - Other 2 2 - - With an allowance recorded: Commercial $ 16 $ 16 $ 2 $ 16 $ 1 Agricultural - - - - - Real estate – residential 242 242 53 243 11 Re al estate – commercial 534 742 81 534 - Re al estate – construction & land 635 635 206 658 8 Eq uity Lines of Credit 107 107 24 110 - Au to - - - - - Ot her - - - - - To tal: Commercial $ 16 $ 16 $ 2 $ 16 $ 1 Agricultural 258 258 - 259 19 Real estate – residential 1,615 1,627 53 1,534 88 Re al estate – commercial 2,323 2,969 81 2,123 33 Re al estate – construction & land 833 833 206 868 8 Eq uity Lines of Credit 326 326 24 231 - Au to 69 69 - 46 - Ot her 2 2 - - - Total $ 5,442 $ 6,100 $ 366 $ 5,077 $ 149 Unpaid Average Interest Recorded Principal Related Recorded Income As of December 31, 201 5 : Investment Balance Allowance Investment Recognized With no related allowance recorded: Commercial $ 47 $ 47 $ 39 $ 1 Agricultural 260 260 262 20 Real estate – residential 1,347 1,359 1,346 79 Real estate – commercial 1,976 2,622 2,057 - Real estate – construction & land 221 221 232 - Equity Lines of Credit 199 199 156 - Auto 65 65 21 - Other - - - - With an allowance recorded: Commercial $ 26 $ 26 $ 26 $ 29 $ - Ag ricultural - - - - - Re al estate – residential 245 245 54 246 11 Re al estate – commercial 1,154 1,154 371 1,203 - Re al estate – construction & land 808 808 269 822 8 Eq uity Lines of Credit 113 113 31 115 - Au to - - - - - Other - - - - - To tal: Commercial $ 73 $ 73 $ 26 $ 68 $ 1 Ag ricultural 260 260 - 262 20 Re al estate – residential 1,592 1,604 54 1,592 90 Re al estate – commercial 3,130 3,776 371 3,260 - Re al estate – construction & land 1,029 1,029 269 1,054 8 Eq uity Lines of Credit 312 312 31 271 - Au to 65 65 - 21 - Other - - - - - Total $ 6,461 $ 7,119 $ 751 $ 6,528 $ 119 The following table shows information related to impaired loans at the date indicated, in thousands: As of December 31, 201 4 : Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 55 $ 55 $ 61 $ 1 Agricultural 605 605 605 51 Real estate – residential 1,422 1,433 1,443 80 Real estate – commercial 3,389 4,036 2,460 - Real estate – construction & land 495 495 512 9 Equity Lines of Credit 121 121 130 - Auto 93 93 81 - Other 1 1 - - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Agricultural - - - - - Real estate – residential 1,096 1,102 51 1,112 11 Real estate – commercial 254 254 65 589 - Real estate – construction & land 757 757 274 778 - Equity Lines of Credit 294 294 174 299 - Auto - - - - - Other - - - - - Total: Commercial $ 55 $ 55 $ - $ 61 $ 1 Agricultural 605 605 - 605 51 Real estate – residential 2,518 2,535 51 2,555 91 Real estate – commercial 3,643 4,290 65 3,049 - Real estate – construction & land 1,252 1,252 274 1,290 9 Equity Lines of Credit 415 415 174 429 - Auto 93 93 - 81 - Other 1 1 - - - Total $ 8,582 $ 9,246 $ 564 $ 8,070 $ 152 |
Note 6 - Premises and Equipment
Note 6 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. PREMISES AND EQUIPMENT Premises and equipment consisted of the following: December 31, 201 6 201 5 Land $ 2,863,000 $ 2,863,000 Premises 16,028,000 15,833,000 Furniture, equipment and leasehold improvements 7,505,000 7,491,000 26,396,000 26,187,000 Less accumulated depreciation and amortization (14,628,000 ) (13,953,000 ) Premises and equipment, net $ 11,768,000 $ 12,234,000 Depreciation and amortization included in occupancy and equipment expense totaled $1,0 24,000, $1,055,000 $1,147,000 December 31, 2016, 2015 2014, |
Note 7 - Deposits
Note 7 - Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 7. DEPOSITS Interest-bearing deposits consisted of the following: December 31, 201 6 201 5 Interest-bearing demand deposits $ 91,289,000 $ 91,225,000 Money market 57,208,000 48,848,000 Savings 147,474,000 125,896,000 Time, $250,000 or more 4,055,000 3,079,000 Other time 45,548,000 49,184,000 Interest-bearing deposits $ 345,574,000 $ 318,232,000 At December 31, 201 6, Year Ending December 31, 201 7 $ 38,579,000 201 8 6,788,000 2019 2,422,000 20 20 1,476,000 202 1 338,000 thereafter - $ 49,603,000 Deposit overdrafts reclassified as loan balances were $252,000 $364,000 December 31, 2016 2015, |
Note 8 - Securities Sold Under
Note 8 - Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | 8. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase totaling $7,547,000 $7,671,000 December 31, 2016, 2015, $15,113,000 $13,171,000 December 31, 2016 2015, Securities sol d under agreements to repurchase are financing arrangements that mature within two 2016 2015 201 6 201 5 Average daily balance during the year $ 6,411,000 $ 6,529,000 Average interest rate during the year 0.08 % 0.08 % Maximum month-end balance during the year $ 9,069,000 $ 8,708,000 Weighted average interest rate at year-end 0.08 % 0.08 % |
Note 9 - Borrowing Arrangements
Note 9 - Borrowing Arrangements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 9. BORROWING ARRANGEMENTS The Company is a member of the FHLB and can borrow up to $1 72,000,000 $270,000,000. December 31, 2016 December 31, 2015, $2,438,000 $2,380,000, December 31, 2016, $90,281,000. $172,000,000 $2,195,000 three $20 $11 $10 December 31, 2016 2015 . On October 24, 2013 $3.0 Note”) payable to an unrelated commercial bank. As originally issued, the Note provided for an interest rate of U.S. “Prime Rate” plus three 4.00% December 31, 2014 2013, 18 100 100% On July 28, 2014, (1) October 24, 2015, (2) $7.5 (3) he maximum principal amount of the Note, among other things. On October 1, 2015, (1) October 1, 2016, (2) $2.5 (3) hange the interest rate to U.S. "Prime Rate" plus one October 1, 2016 1.) The maturity date was extended to October 1, 2017 2.) The maximum amount outstanding at any one cannot exceed $5 Concurrently, with entering into the second October 1, 2015, $5.0 m loan (the “Term Loan”), which matures on October 1, 2018. $125,000 one 100 100% Under the Term Loan and the Note, the Bank is subject to several negative and affirmative covenants similar to the covenants under the original Note but in several cases less restrictive. Additional covenant modifications were made on renewal of the Note on October 1, 2016. December 31, 2016 December 31, 2015. December 31, 2016, 2015 2014 $133 $155 $111 December 31, 2014 $1,000,000. no December 31, 2015 December 31, 2016. April 21, 2016 $2 $3 $2,375,000 $4,875,000 December 30, 2016 December 31, 2015, On April 15, 20 13 $7.5 third April 16, 2015 December 31, 2015 2014 $219,000 $756,000, The subordinated debt had an interest rate of 7.5% 8 first two eight 300,000 $5.25 December 31, 2014 2 January 1, 2015, The Company allocated the proceeds received on April 15, 2013 318,000. 2 May 2016 150,000 $862,000. 150,000 $5.25 April 15, 2021. Proceeds from the Note and the subordinated de bt were used to partially fund the repurchase of preferred stock. (See Note 12 2013, |
Note 10 - Junior Subordinated D
Note 10 - Junior Subordinated Deferrable Interest Debentures | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | 10. JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES Plumas Statutory Trust I and II are business trusts formed by the Company with capital of $319,000 $166,000, During 2002, 6,000 ecurities ("Trust Preferred Securities"), with a liquidation value of $1,000 $6,000,000. 2005, 4,000 $1,000 $4,000,000. $6,186,000 $4,124,000 Trust I ’s Subordinated Debentures mature on September 26, 2032, 4.40% 3 3.40%), September 28, 2035, 2.44% 3 1.48%), 5 September 26, 2032 September 28, 2035 Holders of the Trust Preferred Securities are entitled to a cumulative cash distr ibution on the liquidation amount of $1,000 3 3.40%. 3 1.48%. five The Trust Preferred Securities were sold and issued in private transactions pursuant to an exemption from registration under the Securities Act of 1933, , distributions and other payments due on the Trust Preferred Securities. Interest expense recognized by the Company for the years ended December 31, 201 6, 2015 2014 $348,000, $306,000 $3 03,000, |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 11. COMMITMENTS AND CONTINGENCIES Leases The Company has commitments for leasing premises under the terms of noncancelable operating leases expiring from 2017 2021. Year Ending December 31, 2017 $ 275,000 2018 219,000 2019 206,000 2020 209,000 2021 187,000 $ 1,096,000 Rental expense included in occupancy and equipment expense totaled $276,000, $233,000 $192,000 December 31, 2016, 2015 2014, Financial Instruments With Off-Balance-Sheet Risk The Company is a party to financial instruments with off-balan ce-sheet risk in the normal course of business in order to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized on the consolidated balance sheet. The Company's exposure to credit loss in the event of nonperformance by the other party for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and letters of credit as it does for loans included on the consolidated balance sheet. The following financial instruments represent off-balance- sheet credit risk: December 31, 201 6 201 5 Commitments to extend credit $ 93,699,000 $ 82,995,000 Letters of credit $ 625,000 $ 265,000 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may e. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer's creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management's credit evaluation of the borrower. Collateral held varies, but may Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third the same as that involved in extending loans to customers. The fair value of the liability related to these letters of credit, which represents the fees received for issuing the guarantees, was not significant at December 31, 2016 2015. PLUMAS BANCORP AND SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 11. COMMITMENTS AND CONTINGENCIES (Continued) At December 31, 201 6 , consumer loan commitments represent approximately 11% 37% 52% 80%. Concentrations of Credit Risk The Company grants real estate mortgage, real estate construction, commercial, agricultural and consumer loans to customers throughout Plumas, Nevada, Placer, Lassen, Sierra, Sha sta and Modoc counties in California and Washoe county in Northern Nevada. Although the Company has a diversified loan portfolio, a substantial portion of its portfolio is secured by commercial and residential real estate. A continued substantial decline in the economy in general, or a continued decline in real estate values in the Company’s primary market areas in particular, could have an adverse impact on the collectability of these loans. However, personal and business income represents the primary source of repayment for a majority of these loans. Contingencies The Company is subject to legal proceedings and claims which arise in the ordinary course of business. In the opinion of management, the amount of ultimate liability with respect to such ac tions will not materially affect the financial position or results of operations of the Company. |
Note 12 - Shareholders' Equity
Note 12 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 12. SHAREHOLDERS' EQUITY Dividend Restrictions The Company's ability to pay cash dividends is dependent on dividends paid to it by the Bank and limited by California corporation law. Under California law, the holders of common stock of the Company are entitled to receive dividends when and as declared by the Board of Directors, out of funds legally available, subject to certain restrictions. The California general corporation law permits a California corporation such as the Company to make a distribution to its shareholders if its retained earnings equal at least the amount of the proposed distribution or if after giving effect to the distribution, the value of the corporation’s assets exceed the amount of its liabilities plus the amount of shareholders preferences, if any, and certain other conditions are met. Dividends from the Bank to the Company are restricted under California law to the lesser of th e Bank's retained earnings or the Bank's net income for the latest three December 31, 2016, $9 ,900,000. 10 On October 20, 2016 mpany announced that its Board of Directors approved the reinstatement of a semi-annual cash dividend. The dividend, in the amount of $0.10 November 21, 2016 November 7, 2016. Earnings Per Share Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted earnings per share. For the Year Ended December 31, (In thousands, except per share data) 201 6 201 5 201 4 Net Income: Net income $ 7,474 $ 5,818 $ 4,738 Earnings Per Share: Basic earnings per share $ 1.54 $ 1.21 $ 0.99 Diluted earnings per share $ 1.47 $ 1.15 $ 0.95 Weighted Average Number of Shares Outstanding: Basic shares 4,864 4,817 4,793 Diluted shares 5,098 5,058 4,977 Shares of common stock issuable under stock options and warrants for which the exercise prices were greater than the average market prices were not included in the computation of diluted earnings per share due to their antidilutive effect. Stock options a nd warrants not included in the computation of diluted earnings per share, due to shares not being in the-money and having an antidilutive effect, were 63,000, 53,000 238,000 December 31, 2016, 2015 2014, December 31, 2016 one 150,000 $5.25 December 31, 2015 2014 one 300,000 $5.25 Stock Options In 2001, ck Option Plan for which 81,893 December 31, 2016 . As of December 31, 201 6, no The total fair value of options vested was $0 $49,000 December 31, 2016 2015. $427,000 $240,000 December 31, 2016 2015, A summary of the activity within the 2001 Plan follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Intrinsic Value Options outstanding at January 1, 2014 365,059 $ 8.53 Options forfeited (47,266 ) 13.64 Options exercised (11,400 ) 2.95 Options outstanding at December 31, 2014 306,393 7.95 Options forfeited (74,600 ) 16.26 Options exercised (38,900 ) 2.95 Options outstanding at December 31, 201 5 192,893 5.75 Options forfeited (55,800 ) 12.61 Options exercised (55,200 ) 2.95 Option s outstanding at December 31, 2016 81,893 $ 2.95 2.2 $ 1,314,000 Options exercisable at December 31, 201 6 81,893 $ 2.95 2.2 $ 1,314,000 Expected to vest after December 31, 201 6 - In May 2013, 2013 489,443 298,400 December 31, 2016. 2013 may six ten December 31, 2016 2014 108,000 110,400 No December 31, 2015 . As of December 31, 201 6, $282,000 2013 2.5 A summary of the activity within the 2013 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Intrinsic Value Options outstanding at January 1, 2014 - Options granted 110,400 $ 6.32 Options outstanding at December 31, 2014 110,400 Options cancelled (7,200 ) Options exercised (800 ) Options outstanding at December 31, 2015 102,400 6.32 Option granted 108,000 8.75 Options cancelled (9,600 ) 7.94 Options exercised (8,000 ) 6.32 Options outstanding at December 31, 2016 192,800 $ 7.60 6.3 $ 2,198,000 Options exercisable at December 31, 2016 44,000 $ 6.32 5.3 $ 558,000 Expected to vest after December 31, 2016 129,798 $ 7.98 6.6 $ 1,430,000 Compensation cost related to stock options recognized in operating results under the two $116,000, $70,000 $81,000 December 31, 2016, 2015 2014, $13,000 , $7,000 , $6,000 December 31, 2016, 2015 2014, . Cash received from option exercises for the years ended December 31, 201 6, 2015 2014 $200 ,000, $88,000 $34,000, $12,000, $13,000 $13,000 December 31, 2016, 2015 2014, . Regulatory Capital Th e Bank is subject to certain regulatory capital requirements administered by the FDIC. Failure to meet these minimum capital requirements can initiate certain mandatory and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company's consolidated financial statements. Under capital adequacy guidelines, the Bank must meet specific capital guidelines that involved quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. These quantitative measures are established by regulation and require that minimum amounts and ratios of total and Tier 1 1 The Bank is also subject to additional capital guidelines under the regulatory framewo rk for prompt corrective action. To be categorized as well capitalized, the Bank must maintain total risk-based, Tier 1 1 In July, 2013, agencies approved the final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks, sometimes called “Basel III”. The phase-in period for the final rules began in 2015, 1” 4.5%, 1 6.0% 4.0%), 8.0%, 4.0% 1 January 1, 2015. 2.5% three 0.625% January 1, 2016 January 1, 2.5% January 1, 2019) 2.5%, 1 8.5%, 1 7.0%, 10.5%. The Board of Governors of the Federal Reserve System has adopted final amendments to the Small Bank Holding Company Policy Statement (Regulation Y, Appendix C) ( the “ Policy Statement”) that, among other things, raised from $500 $1 T he following table sets forth the Bank's actual capital amounts and ratios (dollar amounts in thousands): Amount of Capital Required To be Well-Capitalized For Capital Under Prompt Actual Adequacy Purposes Corrective Provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2016 Common Equity Tier 1 Ratio $ 60,521 12.1 % $ 22,597 4.5 % $ 32,641 6.5 % Tier 1 Leverage Ratio 60,521 9.2 % 26,353 4.0 % 32,941 5.0 % Tier 1 Risk-Based Capital Ratio 60,521 12.1 % 30,130 6.0 % 40,173 8.0 % Total Risk-Based Capital Ratio 66,804 13.3 % 40,173 8.0 % 50,217 10.0 % December 31, 2015 Common Equity Tier 1 Ratio $ 56,300 12.7 % $ 19,908 4.5 % $ 28,756 6.5 % Tier 1 Leverage Ratio 56,300 9.4 % 23,999 4.0 % 29,999 5.0 % Tier 1 Risk-Based Capital Ratio 56,300 12.7 % 26,544 6.0 % 35,392 8.0 % Total Risk-Based Capital Ratio 61,839 14.0 % 35,392 8.0 % 44,240 10.0 % The current and projected capital positions of the Company and the Bank and the impact of capital plans and long-term strategies are reviewed regularly by management. The Company policy is to maintain the Bank ’s ratios above the prescribed well-capitalized ratios at all times. Management believes that the Bank currently meets all its capital adequacy requirements. |
Note 13 - Other Expenses
Note 13 - Other Expenses | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | 13. OTHER EXPENSES Other expenses consisted of the following: Year Ended December 31, 201 6 201 5 201 4 Outside se rvice fees $ 2,105,000 $ 2,003,000 $ 2,042,000 Professional fees 608,000 707,000 583,000 Telephone and data communications 450,000 376,000 351,000 Advertising and promotion 366,000 305,000 282,000 Director compensation and retirement 348,000 300,000 298,000 Business development 344,000 332,000 279,000 Deposit insurance 285,000 362,000 387,000 Armored car and courier 248,000 234,000 224,000 Loan collection expenses 166,000 200,000 182,000 Stationery and supplies 119,000 105,000 122,000 Insurance 78,000 95,000 (9,000 ) Postage 40,000 41,000 45,000 Provision from change in OREO valuation 37,000 79,000 240,000 OREO expenses (34,000 ) 182,000 362,000 Gain on sale of other real estate (60,000 ) (198,000 ) (101,000 ) Other operating expenses 309,000 309,000 182,000 Other non-interest expense $ 5,409,000 $ 5,432,000 $ 5,469,000 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. INCOME TAXES The provision for income taxes for the years ended December 31, 201 6, 2015 2014 2016 Federal State Total Current $ 4,156,000 $ 1,263,000 $ 5,419,000 Deferred (575,000 ) (85,000 ) (660,000 ) Provision for income taxes $ 3,581,000 $ 1,178,000 $ 4,759,000 2015 Federal State Total Current $ 3,625,000 $ 631,000 $ 4,256,000 Deferred (848,000 ) 309,000 (539,000 ) Provision for income taxes $ 2,777,000 $ 940,000 $ 3,717,000 2014 Federal State Total Current $ 1,863,000 $ 58,000 $ 1,921,000 Deferred 401,000 764,000 1,165,000 Provision for income taxes $ 2,264,000 $ 822,000 $ 3,086,000 Deferred tax assets (liabilities) consisted of the following: December 31, 201 6 201 5 Deferred tax assets: Allowance for loan losses $ 1,741,000 $ 903,000 Deferred compensation 1,574,000 1,774,000 OREO valuation allowance 519,000 556,000 Premises and equipment 515,000 619,000 Unrealized loss on available-for-sale investment securities 682,000 30,000 Other 1,070,000 721,000 Total deferred tax assets 6,101,000 4,603,000 Deferred tax liabilities: Deferred loan costs (1,628,000 ) (1,436,000 ) Other (238,000 ) (244,000 ) Total deferred tax liabilities (1,866,000 ) (1,680,000 ) Net deferred tax assets $ 4,235,000 $ 2,923,000 Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amount of assets and liabilities and their tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expect ed to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The determination of the amount of deferred income tax assets which are more likely than not to be realized is primarily dependent on projections of future earnings, which are subject to uncertainty and estimates that may 50% At December 31, 201 6 $6,101,000 $1,866,000 $4,235,000. December 31, 2016 2015 no The provision for income taxes differs from amounts computed by applying the statutory Federal income tax rate to operating income before income taxes. The significant items comprising these differences consisted of the following: 2016 2015 2014 Fed eral income tax, at statutory rate 34.0 % 34.0 % 34.0 % State franchise tax, net of Federal tax effect 6.9 % 6.9 % 6.9 % Interest on obligations of states and political subdivisions (1.5 )% (1.3 )% (0.7 )% Net increase in cash surrender value of bank owned life insurance (0.9 )% (1.2 )% (1.5 )% Other 0.4 % 0.6 % 0.7 % Effective tax rate 38.9 % 39.0 % 39.4 % The Company and its subsidiary file income tax returns in the U.S. federal and applicable state jurisdictions. The Company conducts all of its business activities in the states of Arizona, California, Nevada and Oregon. There are currently no pending U.S. federal, state, and local income tax or non-U.S. income tax examinations by tax authorities. With few exceptions, the Company is no longer subject to tax examinations by U.S. Federal taxing authorities for years ended before December 31, 20 13, December 31, 2012. The unrecognized tax benefits December 31, 2016 2015 not twelve |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 15. RELATED PARTY TRANSACTIONS During the normal course of business, the Company enters into transactions with related parties, including executive officers and directors. The following is a summary of the aggregate activity involving related party borrowers during 2016: Balance, January 1, 201 6 $ 3,249,000 Disbursements 2,498,000 Amounts repaid (3,511,000 ) Balance, December 31, 201 6 $ 2,236,000 Undisbursed commitments to related parties, December 31, 201 6 $ 2,442,000 |
Note 16 - Employee Benefit Plan
Note 16 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 16. EMPLOYEE BENEFIT PLANS Profit Sharing Plan The Plumas Bank Profit Sharing Plan commenced April 1, 1988 annual compensation. Included under the Plan's investment options is the option to invest in Company stock. During 2016 2015, 25 2% $114,000 $111,000, December 31, 2014. Salary Continuation and Retirement Agreements Salary continuation and retirement agreements are in place for the Company ’s president, its current executive vice presidents, six five four ten fifteen December 31, 2016, 2015 2014 $269,000, $258,000 $289,000, $3,889,000 $3,973,000 December 31, 2016 2015, In connection with some of these agreements, the Bank purchased single premium life insurance policies with cash surrender values totaling $12,528,000 $12,187,000 December 31, 2016 2015, $341,000, $342,000 $341,000 December 31, 2016, 2015 2014, |
Note 17 - Parent Only Condensed
Note 17 - Parent Only Condensed Financial Statements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 17. PARENT ONLY CONDENSED FINANCIAL STATEMENTS CONDENSED BALANCE SHEETS December 31, 201 6 and 201 5 201 6 201 5 ASSETS Cash and cash equivalents $ 281,000 $ 849,000 Investment in bank subsidiary 59,840,000 56,295,000 Other assets 571,000 552,000 Total assets $ 60,692,000 $ 57,696,000 LIABILITIES AND SHAREHOLDERS' EQUITY Other liabilities $ 13,000 $ 15,000 Note payable 2,375,000 4,875,000 Junior subordinated deferrable interest debentures 10,310,000 10,310,000 Total liabilities 12,698,000 15,200,000 Shareholders' equity: Common stock 5,918,000 6,475,000 Retained earnings 43,048,000 36,063,000 Accumulated other comprehensive loss (972,000 ) (42,000 ) Total shareholders' equity 47,994,000 42,496,000 Total liabilities and shareholders' equity $ 60,692,000 $ 57,696,000 CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Years Ended December 31, 201 6 , 201 5 and 201 4 201 6 201 5 201 4 Income: Dividends declared by bank subsidiary $ 3,500,000 $ 4,000,000 $ 2,500,000 Earnings from investment in Plumas Statutory Trusts I and II 10,000 9,000 9,000 Total income 3,510,000 4,009,000 2,509,000 Expenses: Interest on note payable 133,000 155,000 111,000 Interest on subordinated debenture - 219,000 756,000 Interest on junior subordinated deferrable interest debentures 348,000 306,000 303,000 Other expenses 235,000 206,000 211,000 Total expenses 716,000 886,000 1,381,000 Income before equity in undistributed income of subsidiary 2,794,000 3,123,000 1,128,000 Equity in undistributed income of subsidiary 4,390,000 2,353,000 3,111,000 Income before income taxes 7,184,000 5,476,000 4,239,000 Income tax benefit 290,000 342,000 499,000 Net income $ 7,474,000 $ 5,818,000 $ 4,738,000 Total comprehensive income $ 6,544,000 $ 5,836,000 $ 5,841,000 PLU MAS BANCORP AND SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 17. PARENT ONLY CONDENSED FINANCIAL STATEMENTS (Continued) CONDENSED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 201 6 , 201 5 and 201 4 201 6 201 5 201 4 Cash flows from operating activities: Net income $ 7,474,000 $ 5,818,000 $ 4,738,000 Adjustments to reconcile net income to net cash provided by operating activities: Undistributed income of subsidiary (4,390,000 ) (2,353,000 ) (3,111,000 ) Amortization of discount on debentures - 45,000 159,000 Stock-based compensation expense 32,000 17,000 14,000 ( Decrease) increase in other assets (31,000 ) 238,000 207,000 Decrease in other liabilities (2,000 ) (7,000 ) (11,000 ) Net cash provided by operating activities 3,083,000 3,758,000 1,996,000 Cash flows from financing activities: Cash dividends paid on common stock (489,000 ) - - Redemption of subordinated debt - (7,500,000 ) - Repurchase of common stock warrant (862,000 ) - - Increase in note payable - 4,000,000 - Payment on note payable (2,500,000 ) (125,000 ) (2,000,000 ) Proceeds from exercise of stock options 200,000 88,000 34,000 Net cash used in financing activities (3,651,000 ) (3,537,000 ) (1,966,000 ) (Decrease) i ncrease in cash and cash equivalents (568,000 ) 221,000 30,000 Cash and cash equivalents at beginning of year 849,000 628,000 598,000 Cash and cash equivalents at end of year $ 281,000 $ 849,000 $ 628,000 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Consolidation and Basis of Presentation The consolidated financial statements include the accounts of the Company and the consolidated accounts of its wholly-owned subsi diary, Plumas Bank. All significant intercompany balances and transactions have been eliminated. Plumas Statutory Trust I and Trust II are not consolidated into the Company's consolidated financial statements and, accordingly, are accounted for under the equity method. The Company's investment in Trust I of $319,000 $166,000 The accounting and reporting policies of Plumas Bancorp and subsidiary conform with accounting principles generally accepted in the United States of America and prevailing practices within the banking industry. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications have been made to prior years ’ balances to conform to the classifications used in 2016. |
Segment Reporting, Policy [Policy Text Block] | Segment Information Management has determined that since all of the banking products and services offered by the Company are available in each branch of the Bank, all branches are located within the same economic environment and management does not allocate resources based on the performance of different lending or transaction activities, it is appropriate to aggregate the Bank branches and report them as a single operating segment. No 10 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates To prepare financial statements in conformity with accounting principles generally accepted in the United States of America management makes estimates and assumptions based on available information. These e stimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The allowance for loan losses, loan servicing rights, deferred tax assets, and fair values of financial instruments are particularly subject to change. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For the purpose of the statement of cash flows, cash and due from banks and Federal funds sold are considered to be cash equivalents. Generally, Federal funds are sold for one periods. Cash held with other federally insured institutions in excess of FDIC limits as of December 31, 2016 $9.9 |
Investment, Policy [Policy Text Block] | Investment Securities Investments are classified into one ● Available-for-sale securities reported at fair value, with unrealized gains and losses excluded from earnings and reported, net of taxes, as accumulated other comprehensive income (loss ) within shareholders' equity. ● Held-to-maturity securities, which management has the positive intent and ability to hold, reported at amortized cost, adjusted for the accretion of discounts and amortization of premiums. As of December 31, 201 6 2015 not Management determines the appropriate classification of its investments at the time of purchase and may stances. As of December 31, 201 6 2015 not An investment security is impaired when its carrying value is greater than its fair value. Investment securities that are im paired are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether such a decline in their fair value is other than temporary. Management utilizes criteria such as the magnitude and duration of the decline and the intent and ability of the Company to retain its investment in the securities for a period of time sufficient to allow for an anticipated recovery in fair value, in addition to the reasons underlying the decline, to determine whether the loss in value is other than temporary. The term "other than temporary" is not intended to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. Once a decline in value is determined to be other than temporary, and management does not intend to sell the security or it is more likely than not that the Company will not be required to sell the security before recovery, only the portion of the impairment loss representing credit exposure is recognized as a charge to earnings, with the balance recognized as a charge to other comprehensive income. If management intends to sell the security or it is more likely than not that the Company will be required to sell the security before recovering its forecasted cost, the entire impairment loss is recognized as a charge to earnings. |
Investment in Federal Home Loan Bank Stock, Policy [Policy Text Block] | Inv estment in Federal Home Loan Bank Stock As a member of the Federal Home Loan Bank (FHLB) System, the Bank is required to maintain an investment in the capital stock of the FHLB. The investment is carried at cost classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. At December 31, 2016 December 31, 2015, $2,438,000 $2,380,000, . On the consolidated balance sheet, FHLB stock is included in accrued interest receivable and other assets. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale, Loan Sales and Servicing Included in the loan portfolio are loans which are 75% 85% s Cooperative Service (RBS) and Farm Services Agency (FSA). The guaranteed portion of these loans may third As of December 31, 201 6 2015 $2.5 $2.1 may Government guaranteed loans with unpaid balances of $ 96,592,000 $86,589,000 December 31, 2016 2015, The Company accounts for the transf er and servicing of financial assets based on the fair value of financial and servicing assets it controls and liabilities it has assumed, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. Se rvicing rights acquired through 1) 2) may The Company's investment in the loan is allocated between the retained portion of the loan and the sold portion of the loan based on their fair values on the date the loan is sold. The gain on the sold portion of the loan is recognized as income at the time of sale. The carrying value of the retained portion of the loan is discounted based on the estimated value of a comparable non-guaranteed loan. |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Loans Loans that management has the intent and ability to hold for foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of purchase premiums or discounts, deferred loan fees and costs, and an allowance for loan losses. Loans, if any, that are transferred from loans held for sale are carried at the lower of principal balance or market value at the date of transfer, adjusted for accretion of discounts. Interest is accrued daily based upon outstanding loan balances. 90 first Loan origination fees, commitment fees, direct loan origination costs and purchased premiums and discounts on loans are deferred and recognized as an adjustment of yield, to be amortized to interest income over the c ontractual term of the loan. The unamortized balance of deferred fees and costs is reported as a component of net loans. The Company may may ash flows and the cash flows expected to be collected due, at least in part, to credit quality. When the Company acquires such loans, the yield that may h flows expected to be collected over the Company's initial investment in the loan. The excess of contractual cash flows over cash flows expected to be collected may Subsequent increases in cash flows expected to be collected generally should be recognized prospectively through adjustment of the loan's yield over its remaining life. Decreases in cash flows expected to be collected should be recognized as an impairment. The Co mpany may December 31, 2016 2015, |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is an estimate of probable incurred credit losses inherent in the Company's loan portfolio that have been incurred as of the balance-sheet date. The allowance is established through a provision for loan losses which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after credit losses and loan growth. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The overall allowance consists of two A loan is considered impaired when, based on current info rmation and events, it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the original agreement. Loans determined to be impaired are individually evaluated for impairment. When a loan is impaired, the Company measures impairment based on the present value of expected future cash flows discounted at the loan's effective interest rate, except that as a practical expedient, it may A restructuring of a debt consti tutes a troubled debt restructuring (TDR) if the Company, for economic or legal reasons related to the debtor's financial difficulties, grants a concession to the debtor that it would not otherwise consider. Restructured workout loans typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Loans that are reported as TDRs are considered impaired and measured for impairment as described above. The determination of the general r eserve for loans that are not impaired is based on estimates made by management, to include, but not limited to, consideration of historical losses by portfolio segment from January 1, 2008 The Company maintains a separate allowance for each portfolio segment (loan type). These portfolio segments incl ude commercial, agricultural, real estate construction (including land and development loans), commercial real estate mortgage, residential mortgage, home equity loans, automobile loans and other loans primarily consisting of consumer installment loans and credit card receivables. The allowance for loan losses attributable to each portfolio segment, which includes both impaired loans and loans that are not impaired, is combined to determine the Company’s overall allowance, and is included as a component of loans on the consolidated balance sheet. The Company assigns a risk rating to all loans, with the exception of automobile and other loans and periodically, but not less than annually, performs detailed reviews of all such loans over $100,000 lectability of the portfolio. These risk ratings are also subject to examination by independent specialists engaged by the Company and the Company’s regulators. During these internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which borrowers operate and the fair values of collateral securing these loans. These credit quality indicators are used to assign a risk rating to each individual loan. The risk ratings can be grouped in to five Pass – A pass loan is a strong credit with no existing or known potential weaknesses deserving of management's close attention. Watch – A Watch loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may Substandard – A substandard loan is not adequately protected by the current sound worth and paying capacity of the borrower or the value of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Well defined weaknesses include a project's lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time or the project's failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful – Loans classified doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions and values, highly questionable and improbable. Loss – Loans classified as loss are considered uncollectible and charged off immediately. The general reserve component of the allowance for loan losses associated with loans collectively evaluated for impairment also consi sts of reserve factors that are based on management's assessment of the following for each portfolio segment: (1) (2) Commercial – Agricultural – two Real estate – Residential and Home Equity Lines of Credit – may Real estate – Commercial – may Real estate – Construction and Land Development – Automobile – may may Other – Although management believes the allowance to be adequate, ultimate losses may nd management review the adequacy of the allowance, including consideration of the relative risks in the portfolio, current economic conditions and other factors. If the Board of Directors and management determine that changes are warranted based on those reviews, the allowance is adjusted. In addition, the Company's may The Company also maintains a separate allowance for off-balance-sheet commitments. Management estimates anticipated losses using historical data and utilization assumptions. The allowance for these commitments totaled $ 200,000 December 31, 2016 2015 |
Other Real Estate, Policy [Policy Text Block] | Other Real Estate Other real estate owned relates to real estate acquired in full or partial settlement of loan obligation s, which was $735,000 ($2 ,005,000 $1,270,000) December 31, 2016 $1,756,000 ($3,106,000 $1,350,000) December 31, 2015. $ 84,000 December 31, 2016 2015 four $335 December 31, 2016. one $23 December 31, 2015. $2,245,000, $2,281,000 $3,399,000 December 31, 2016, 2015 2014, December 31, 2016, 2015 2014 $60,000, $198,000 $1 01,000, The following table provides a summary of the change in the OREO balance for the years ended December 31, 2016 2015: Year Ended December 31, 201 6 201 5 Beginning balance $ 1,756,000 $ 3,590,000 Additions 1,200,000 328,000 Dispositions (2,184,000 ) (2,083,000 ) Write-downs (37,000 ) (79,000 ) Ending balance $ 735,000 $ 1,756,000 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of core deposit intangibles related to branch acquisitions and are amortized using the straight-line method over a period not to exceed fifteen evaluates the recoverability and remaining useful life annually to determine whether events or circumstances warrant a revision to the intangible asset or the remaining period of amortization. There were no such events or circumstances during the periods presented. At December 31, 2016 2015, $87,000 $94,000, |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful lives of the related assets. The useful lives of premises are estimated to be twenty thirty two ten may |
Bank Owned Life Insurance, policy [Policy Text Block] | Bank Owned Life Insurance The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company files its income taxes on a consolidated basis with its subsidiary. Income tax expense is the total of current year income tax due or refundable and the change in de ferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amount of assets and liabilities and their tax bases. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. A valuation allowance is recognized if, based on the weight of available evidence management believes it is more likely than not that some portion or all of the deferred tax assets will not be realized. On the consolidated balance sheet, net deferred tax assets are included in accrued interest receivable and other assets. |
Income Tax Uncertainties, Policy [Policy Text Block] | Accounting for Uncertainty in Income Taxes When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 Interest expense and penalties associated with unrecognized tax benefits, if any, are classified as income tax expense in the consolidated income statement. There have been no December 31, 2016 2015. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common stockholders (net income plus discount on redemption of preferred stock less preferred dividends and accretion) by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted EPS. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale which are also recognized as separate components of equity. The amount reclassif ied out of other accumulated comprehensive income relating to realized (losses) gains on securities available for sale was $(32,000) , $21,000 $128,000 2016, 2015 2014, $(13,000), $9,000 $53,000, |
Dividends, policy [Policy Text Block] | Dividend Restrictions Banking regulations require maintaining certain capital levels and may |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation Compensation expense related to the Com pany’s Stock Option Plans, net of related tax benefit, recorded in 2016, 2015 2014 $103,000, $70,000 $75,000 $0.02, $0.01 $0.02 The Company determines the fair value of options on the date of grant using a Black-Scholes-Merton option pricing model that uses assumptions based on expected option life, expected stock volatility and the risk-free interest rate . The expected volatility assumptions used by the Company are based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected life of the Company’s stock options. The Company bases its expected life assumption on its historical experience and on the terms and conditions of the stock options it grants to employees. The risk-free rate is based on the U.S. Treasury yield curve for the periods within the contractual life of the options in effect at the time of the grant. The Company also makes assumptions regarding estimated forfeitures that will impact the total compensation expenses recognized under the Plans. During 2016 2014 108,000 110,400 201 6 2014 Expected life of stock options (in years) 5.1 5.2 Risk free interest rate 1.52% 1.64% Volatility 53.6% 63.8% Dividend yields 2.00% 2.00% Weighted-average fair value of options granted during the year $3.55 $3.02 No December 31, 2015. |
New Accounting Pronouncements, Policy [Policy Text Block] | Pending Accounting Pronouncements In May 2014, 2014 09 Revenue from Contracts with Customers. This update to the ASC is the culmination of efforts by the FASB and the International Accounting Standards Board (IASB) to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (IFRS). ASU 2014 09 605 2014 09 5 This update was originally effective for annual reporting periods beginning on or after December 15, 2016 July 2015 2014 09 one ve for annual reporting periods beginning on or after December 15, 2017 have a material impact on revenue most closely associated with financial instruments, including interest income. The Company is currently performing an overall assessment of revenue streams potentially affected by the ASU including deposit related fees and interchange fees to determine the potential impact the new guidance is expected to have on the Company's Consolidated Financial Statements. The Company plans to adopt ASU No. 2014 09 January 1, 2018 On January 5, 2016, 2016 01, –Overall: Recognition and Measurement of Financial Assets and Financial Liabilities. Changes made to the current measurement model primarily affect the accounting for equity securities with readily determinable fair values, where changes in fair value will impact earnings instead of other comprehensive income. The accounting for other financial instruments, such as loans, investments in debt securities, and financial liabilities is largely unchanged. The Update also changes the presentation and disclosure requirements for financial instruments including a requirement that public business entities use exit price when measuring the fair value of financial instruments measured at amortized cost for disclosure purposes. This Update is generally effective for public business entities in fiscal years beginning after December 15, 2017, . 2016 01. 2016 01 impact on the Company's Consolidated Financial Statements; however, the Company will continue to closely monitor developments and additional guidance. On February 25, 2016, 2016 02, The most significant change for lessees is the requirement under the new guidance to recognize right-of-use assets and lease liabilities for all leases not considered short-term leases, which is generally defined as a lease term of less than 12 2016 02 December 15, 2018. two s consolidated statements of condition. The Company expects the new guidance will require some of these lease agreements to now be recognized on the consolidated statements of condition as a right-of-use asset and a corresponding lease liability. Therefore, the Company's preliminary evaluation indicates the provisions of ASU No. 2016 02 On March 30, 2016, ASB issued ASU 2016 09, 2016 09 December 15, 2016. 2016 09 January 1, 2017 did not have a material effect on the Company's financial statements or disclosures. The Company expects adoption of ASU No. 2016 09 In June 2016, 2016 13, . 2016 13 (1) (2) 2016 13 2016 13 December 15, 2019; December 15, 2018. first s Chief Lending Officer and composed of members of the Company's credit administration and accounting departments. The Company's preliminary evaluation indicates the provisions of ASU No. 2016 13 |
Note 2 - Summary of Significa26
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Other Real Estate Foreclosed [Table Text Block] | Year Ended December 31, 201 6 201 5 Beginning balance $ 1,756,000 $ 3,590,000 Additions 1,200,000 328,000 Dispositions (2,184,000 ) (2,083,000 ) Write-downs (37,000 ) (79,000 ) Ending balance $ 735,000 $ 1,756,000 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 201 6 2014 Expected life of stock options (in years) 5.1 5.2 Risk free interest rate 1.52% 1.64% Volatility 53.6% 63.8% Dividend yields 2.00% 2.00% Weighted-average fair value of options granted during the year $3.55 $3.02 |
Note 3 - Fair Value Measureme27
Note 3 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at December 31, 2016 Using: Carrying Value Level 1 Level 2 Level 3 Total Fair Value Financial assets: Cash and cash equivalents $ 62,646,000 $ 62,646,000 $ 62,646,000 Investment securities 101,595,000 $ 101,595,000 101,595,000 Loans, net 456,580,000 $ 459,618,000 459,618,000 FHLB stock 2,438,000 N/A Accrued interest receivable 2,312,000 7,000 398,000 1,907,000 2,312,000 Financial liabilities: Deposits 582,353,000 532,750,000 49,586,000 582,336,000 Repurchase agreements 7,547,000 7,547,000 7,547,000 Note payable 2,375,000 2,375,000 2,375,000 Junior subordinated deferrable interest debentures 10,310,000 7,762,000 7,762,000 Accrued interest payable 59,000 9,000 36,000 14,000 59,000 Fair Value Measurements at December 31, 2015 Using: Carrying Value Level 1 Level 2 Level 3 Total Fair Value Financial assets: Cash and cash equivalents $ 68,195,000 $ 68,195,000 $ 68,195,000 Investment securities 96,704,000 $ 96,704,000 96,704,000 Loans, net 396,833,000 $ 395,338,000 395,338,000 FHLB stock 2,380,000 N/A Accrued interest receivable 2,048,000 26,000 328,000 1,694,000 2,048,000 Financial liabilities: Deposits 527,276,000 475,013,000 52,287,000 527,300,000 Repurchase agreements 7,671,000 7,671,000 7,671,000 Note payable 4,875,000 4,875,000 4,875,000 Junior subordinated deferrable interest debentures 10,310,000 6,662,000 6,662,000 Accrued interest payable 58,000 8,000 38,000 12,000 58,000 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at December 31, 201 6 Using Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government-sponsored agencies collateralized by mortgage obligations- residential $ 74,911,000 $ 74,911,000 Obligations of states and political subdivisions 26,684,000 26,684,000 $ 101,595,000 $ - $ 101,595,000 $ - Fair Value Measurements at December 31, 2015 Using Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Government-sponsored agencies $ 1,977,000 $ 1,977,000 U.S. Government-sponsored agencies collateralized by mortgage obligations- residential 72,370,000 72,370,000 Obligations of states and political subdivisions 22,357,000 22,357,000 $ 96,704,000 $ - $ 96,704,000 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at December 31, 201 6 Using Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Assets: Impaired loans: Real estate – commercial $ 453,000 $ $ $ 453,000 $ (81,000 ) Equity lines of credit 83,000 83,000 6,000 Total impaired loans 536,000 - - 536,000 (75,000 ) Other real estate: Real estate – residential 10,000 - - 10,000 - Real estate – commercial 84,000 84,000 (37,000 ) Real estate – construction and land development 641,000 641,000 - Total other real estate 735,000 - - 735,000 (37,000 ) $ 1,271,000 $ - $ - $ 1,271,000 $ (112,000 ) Fair Value Measurements at December 31, 2015 Using Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Assets: Impaired loans: Real estate – commercial $ 1,214,000 $ $ $ 1,214,000 $ - Real estate – construction and land development 30,000 30,000 (53,000 ) Equity lines of credit 83,000 83,000 6,000 Total impaired loans 1,327,000 - - 1,327,000 (47,000 ) Other real estate: Real estate – commercial 156,000 156,000 (127,000 ) Real estate – construction and land development 1,516,000 1,516,000 75,000 Equity lines of credit 84,000 84,000 (27,000 ) Total other real estate 1,756,000 - - 1,756,000 (79,000 ) $ 3,083,000 $ - $ - $ 3,083,000 $ (126,000 ) |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Range Range Description Fair Value 12/31/201 6 Fair Value 12/31/2015 Valuation Technique Significant Unobservable Input (Weighted Average) 12/31/201 6 (Weighted Average) 12/31/2015 Impaired Loans: RE – Commercial $ 453 $ 1,214 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 12% (12 %) 9% - 12% (10%) Land and Construction $ - $ 30 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 8% (8%) Equity L ines of Credit $ 83 $ 83 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 8% (8%) 8% (8%) Other Real Estate: RE – Residential $ 10 $ - Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 48% (48%) Land and Construction $ 641 $ 1,516 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% - 36% (33%) 10% (10%) RE – Commercial $ 84 $ 156 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 4 0% 0%) 10% (10%) Equity Lines of Credit $ - $ 84 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% (10%) |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Available-for-Sale 201 6 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations-residential $ 76,207,000 $ 11,000 $ (1,307,000 ) $ 74,911,000 Obligations of states and political subdivisions 27,042,000 89,000 (447,000 ) 26,684,000 $ 103,249,000 $ 100,000 $ (1,754,000 ) $ 101,595,000 Available-for-Sale 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Debt securities: U.S. Government-sponsored agencies $ 1,994,000 $ - $ (17,000 ) $ 1,977,000 U.S. Government-sponsored agencies collateralized by mortgage obligations-residential 72,965,000 56,000 (651,000 ) 72,370,000 Obligations of states and political subdivisions 21,817,000 548,000 (8,000 ) 22,357,000 $ 96,776,000 $ 604,000 $ (676,000 ) $ 96,704,000 |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 201 6 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Debt securities: U.S. Government agencies collateralized by mortgage obligations-residential $ 68,338,000 $ 1,237,000 $ 2,043,000 $ 70,000 $ 70,381,000 $ 1,307,000 Ob ligations of states and political subdivisions 18,052,000 447,000 - - 18,052,000 447,000 $ 86,390,000 $ 1,684,000 $ 2,043,000 $ 70,000 $ 88,433,000 $ 1,754,000 December 31, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Debt securities: U. S. Government- sponsored agencies $ 1,977,000 $ 17,000 $ - $ - $ 1,977,000 $ 17,000 U.S. Government agencies collateralized by mortgage obligations-residential 45,398,000 327,000 11,880,000 324,000 57,278,000 651,000 Obligations of states and political subdivisions 1,037,000 7,000 160,000 1,000 1,197,000 8,000 $ 48,412,000 $ 351,000 $ 12,040,000 $ 325,000 $ 60,452,000 $ 676,000 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Cost Estimated Fair Value After one year through five years $ 898,000 $ 893,000 After five years through ten years 16,052,000 15,978,000 After ten years 10,092,000 9,813,000 Investment securities not due at a single maturity date: Government-sponsored mortgage-backed securities 76,207,000 74,911,000 $ 103,249,000 $ 101,595,000 |
Note 5 - Loans and the Allowa29
Note 5 - Loans and the Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 201 6 2015 Commercial $ 41,293,000 $ 37,084,000 Agricultural 51,103,000 39,856,000 Real estate – residential 21,283,000 25,474,000 Real estate – commercial 226,136,000 192,095,000 Real estate – construction & land development 21,904,000 16,188,000 Equity lines of credit 42,338,000 38,327,000 Auto 53,553,000 48,365,000 Other 3,513,000 3,582,000 461,123,000 400,971,000 Deferred loan costs, net 2,006,000 1,940,000 Allowance for loan losses (6,549,000 ) (6,078,000 ) Loans, net $ 456,580,000 $ 396,833,000 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Year Ended December 31, 201 6 201 5 201 4 Balance, beginning of year $ 6,078,000 $ 5,451,000 $ 5,517,000 Provision charged to operations 800,000 1,100,000 1,100,000 Losses charged to allowance (979,000 ) (827,000 ) (1,913,000 ) Recoveries 650,000 354,000 747,000 Balance, end of year $ 6,549,000 $ 6,078,000 $ 5,451,000 |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 201 6 Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade Commercial Agricultural Real Estate-Residential Real Estate-Commercial Real Estate-Construction Equity LOC Total Grade: Pass $ 40,459 $ 50,790 $ 21,125 $ 223,854 $ 21,201 $ 41,983 $ 399,412 Watch 565 280 - 400 - - 1,245 Substandard 269 33 158 1,882 703 355 3,400 Doubtful - - - - - - - Total $ 41,293 $ 51,103 $ 21,283 $ 226,136 $ 21,904 $ 42,338 $ 404,057 December 31, 201 5 Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade Commercial Agricultural Real Estate-Residential Real Estate-Commercial Real Estate-Construction Equity LOC Total Grade: Pass $ 35,508 $ 39,426 $ 25,220 $ 185,739 $ 15,048 $ 37,983 $ 338,924 Watch 883 387 149 2,442 247 - 4,108 Substandard 693 43 105 3,914 893 344 5,992 Doubtful - - - - - - - Total $ 37,084 $ 39,856 $ 25,474 $ 192,095 $ 16,188 $ 38,327 $ 349,024 |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Real Estate- Real Estate- Real Estate- Commercial Agricultural Residential Commercial Construction Equity LOC Auto Other Total Year ended 12/31/1 6 : Allowance for Loan Losses Beginning balance $ 639 $ 294 $ 341 $ 2,525 $ 874 $ 528 $ 784 $ 93 $ 6,078 Charge-offs (268 ) - (39 ) (253 ) (5 ) (23 ) (319 ) (72 ) (979 ) Recoveries 53 - 42 3 389 2 131 30 650 Provision 231 172 (64 ) 465 (331 ) 68 219 40 800 Ending balance $ 655 $ 466 $ 280 $ 2,740 $ 927 $ 575 $ 815 $ 91 $ 6,549 Year ended 12/31/1 5 : Allowance for Loan Losses Beginning balance $ 574 $ 225 $ 379 $ 1,701 $ 1,227 $ 691 $ 581 $ 73 $ 5,451 Charge-offs (88 ) (3 ) (132 ) - (55 ) (98 ) (414 ) (37 ) (827 ) Recoveries 167 6 8 - - 6 124 43 354 Provision (14 ) 66 86 824 (298 ) (71 ) 493 14 1,100 Ending balance $ 639 $ 294 $ 341 $ 2,525 $ 874 $ 528 $ 784 $ 93 $ 6,078 Year ended 12/31/1 4 : Allowance for Loan Losses Beginning balance $ 785 $ 164 $ 638 $ 1,774 $ 944 $ 613 $ 449 $ 150 $ 5,517 Charge-offs (191 ) - (127 ) (888 ) (106 ) (205 ) (282 ) (114 ) (1,913 ) Recoveries 89 - 13 6 491 5 73 70 747 Provision (109 ) 61 (145 ) 809 (102 ) 278 341 (33 ) 1,100 Ending balance $ 574 $ 225 $ 379 $ 1,701 $ 1,227 $ 691 $ 581 $ 73 $ 5,451 December 31, 201 6 : Allowance for Loan Losses Ending balance: individually evaluated for impairment $ 2 $ - 53 $ 81 $ 206 $ 24 $ - $ - $ 366 Ending balance: collectively evaluated for impairment $ 653 $ 466 $ 227 $ 2,659 $ 721 $ 551 $ 815 $ 91 $ 6,183 Loans Ending balance $ 41,293 $ 51,103 $ 21,283 $ 226,136 $ 21,904 $ 42,338 $ 53,553 $ 3,513 $ 461,123 Ending balance: individually evaluated for impairment $ 16 $ 258 $ 1,615 $ 2,323 $ 833 $ 326 $ 69 $ 2 $ 5,442 Ending balance: collectively evaluated for impairment $ 41,277 $ 50,845 $ 19,668 $ 223,813 $ 21,071 $ 42,012 $ 53,484 $ 3,511 $ 455,681 Real Estate- Real Estate- Real Estate- Commercial Agricultural Residential Commercial Construction Equity LOC Auto Other Total December 31, 201 5 : Allowance for Loan Losses Ending balance: individually evaluated for impairment $ 26 $ - 54 $ 371 $ 269 $ 31 $ - $ - $ 751 Ending balance: collectively evaluated for impairment $ 613 $ 294 $ 287 $ 2,154 $ 605 $ 497 $ 784 $ 93 $ 5,327 Loans Ending balance $ 37,084 $ 39,856 $ 25,474 $ 192,095 $ 16,188 $ 38,327 $ 48,365 $ 3,582 $ 400,971 Ending balance: individually evaluated for impairment $ 73 $ 260 $ 1,593 $ 3,129 $ 1,029 $ 311 $ 66 $ - $ 6,461 Ending balance: collectively evaluated for impairment $ 37,011 $ 39,596 $ 23,881 $ 188,966 $ 15,159 $ 38,016 $ 48,299 $ 3,582 $ 394,510 |
Past Due Financing Receivables [Table Text Block] | December 31, 201 6 30-89 Days Past Due 90 Days and Still Accruing Nonaccrual Total Past Due and Nonaccrual Current Total Commercial $ 77 $ - $ - $ 77 $ 41,216 $ 41,293 Agricultural - - - - 51,103 51,103 Real estate - residential 179 - 145 324 20,959 21,283 Real estate - commercial 519 - 1,479 1,998 224,138 226,136 Real estate – construction & land 10 - 703 713 21,191 21,904 Equity Lines of Credit 276 - 326 602 41,736 42,338 Auto 919 - 69 988 52,565 53,553 Other 23 - 2 25 3,488 3,513 Total $ 2,003 $ - $ 2,724 $ 4,727 $ 456,396 $ 461,123 December 31, 201 5 30-89 Days Past Due 90 Days and Still Accruing Nonaccrual Total Past Due and Nonaccrual Current Total Commercial $ 457 $ - $ 56 $ 513 $ 36,571 $ 37,084 Agricultural - - - - 39,856 39,856 Real estate - residential 472 - 90 562 24,912 25,474 Real estate - commercial - - 3,130 3,130 188,965 192,095 Real estate – construction & land 9 - 893 902 15,286 16,188 Equity Lines of Credit 8 - 312 320 38,007 38,327 Auto 586 - 65 651 47,714 48,365 Other 15 - - 15 3,567 3,582 Total $ 1,547 $ - $ 4,546 $ 6,093 $ 394,878 $ 400,971 |
Impaired Financing Receivables [Table Text Block] | As of December 31, 201 6 : Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ - $ - $ - $ - Agricultural 258 258 259 19 Real estate – residential 1,373 1,385 1,291 77 Real estate – commercial 1,789 2,227 1,589 33 Real estate – construction & land 198 198 210 - Equity Lines of Credit 219 219 121 - Auto 69 69 46 - Other 2 2 - - With an allowance recorded: Commercial $ 16 $ 16 $ 2 $ 16 $ 1 Agricultural - - - - - Real estate – residential 242 242 53 243 11 Re al estate – commercial 534 742 81 534 - Re al estate – construction & land 635 635 206 658 8 Eq uity Lines of Credit 107 107 24 110 - Au to - - - - - Ot her - - - - - To tal: Commercial $ 16 $ 16 $ 2 $ 16 $ 1 Agricultural 258 258 - 259 19 Real estate – residential 1,615 1,627 53 1,534 88 Re al estate – commercial 2,323 2,969 81 2,123 33 Re al estate – construction & land 833 833 206 868 8 Eq uity Lines of Credit 326 326 24 231 - Au to 69 69 - 46 - Ot her 2 2 - - - Total $ 5,442 $ 6,100 $ 366 $ 5,077 $ 149 Unpaid Average Interest Recorded Principal Related Recorded Income As of December 31, 201 5 : Investment Balance Allowance Investment Recognized With no related allowance recorded: Commercial $ 47 $ 47 $ 39 $ 1 Agricultural 260 260 262 20 Real estate – residential 1,347 1,359 1,346 79 Real estate – commercial 1,976 2,622 2,057 - Real estate – construction & land 221 221 232 - Equity Lines of Credit 199 199 156 - Auto 65 65 21 - Other - - - - With an allowance recorded: Commercial $ 26 $ 26 $ 26 $ 29 $ - Ag ricultural - - - - - Re al estate – residential 245 245 54 246 11 Re al estate – commercial 1,154 1,154 371 1,203 - Re al estate – construction & land 808 808 269 822 8 Eq uity Lines of Credit 113 113 31 115 - Au to - - - - - Other - - - - - To tal: Commercial $ 73 $ 73 $ 26 $ 68 $ 1 Ag ricultural 260 260 - 262 20 Re al estate – residential 1,592 1,604 54 1,592 90 Re al estate – commercial 3,130 3,776 371 3,260 - Re al estate – construction & land 1,029 1,029 269 1,054 8 Eq uity Lines of Credit 312 312 31 271 - Au to 65 65 - 21 - Other - - - - - Total $ 6,461 $ 7,119 $ 751 $ 6,528 $ 119 As of December 31, 201 4 : Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 55 $ 55 $ 61 $ 1 Agricultural 605 605 605 51 Real estate – residential 1,422 1,433 1,443 80 Real estate – commercial 3,389 4,036 2,460 - Real estate – construction & land 495 495 512 9 Equity Lines of Credit 121 121 130 - Auto 93 93 81 - Other 1 1 - - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Agricultural - - - - - Real estate – residential 1,096 1,102 51 1,112 11 Real estate – commercial 254 254 65 589 - Real estate – construction & land 757 757 274 778 - Equity Lines of Credit 294 294 174 299 - Auto - - - - - Other - - - - - Total: Commercial $ 55 $ 55 $ - $ 61 $ 1 Agricultural 605 605 - 605 51 Real estate – residential 2,518 2,535 51 2,555 91 Real estate – commercial 3,643 4,290 65 3,049 - Real estate – construction & land 1,252 1,252 274 1,290 9 Equity Lines of Credit 415 415 174 429 - Auto 93 93 - 81 - Other 1 1 - - - Total $ 8,582 $ 9,246 $ 564 $ 8,070 $ 152 |
Consumer Portfolio Segment [Member] | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | Consumer Credit Exposure Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Credit Risk Profile Based on Payment Activity December 31, 201 6 December 31, 201 5 Auto Other Total Auto Other Total Grade: Performing $ 53,474 $ 3,511 $ 56,985 $ 48,300 $ 3,582 $ 51,882 Non-performing 79 2 81 65 - 65 Total $ 53,553 $ 3,513 $ 57,066 $ 48,365 $ 3,582 $ 51,947 |
Note 6 - Premises and Equipme30
Note 6 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 201 6 201 5 Land $ 2,863,000 $ 2,863,000 Premises 16,028,000 15,833,000 Furniture, equipment and leasehold improvements 7,505,000 7,491,000 26,396,000 26,187,000 Less accumulated depreciation and amortization (14,628,000 ) (13,953,000 ) Premises and equipment, net $ 11,768,000 $ 12,234,000 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule Of Interest Bearing Deposits [Table Text Block] | December 31, 201 6 201 5 Interest-bearing demand deposits $ 91,289,000 $ 91,225,000 Money market 57,208,000 48,848,000 Savings 147,474,000 125,896,000 Time, $250,000 or more 4,055,000 3,079,000 Other time 45,548,000 49,184,000 Interest-bearing deposits $ 345,574,000 $ 318,232,000 |
Schedule of Maturities of Time Deposits [Table Text Block] | Year Ending December 31, 201 7 $ 38,579,000 201 8 6,788,000 2019 2,422,000 20 20 1,476,000 202 1 338,000 thereafter - $ 49,603,000 |
Note 8 - Securities Sold Unde32
Note 8 - Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Securities Financing Transactions [Table Text Block] | 201 6 201 5 Average daily balance during the year $ 6,411,000 $ 6,529,000 Average interest rate during the year 0.08 % 0.08 % Maximum month-end balance during the year $ 9,069,000 $ 8,708,000 Weighted average interest rate at year-end 0.08 % 0.08 % |
Note 11 - Commitments and Con33
Note 11 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31, 2017 $ 275,000 2018 219,000 2019 206,000 2020 209,000 2021 187,000 $ 1,096,000 |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | December 31, 201 6 201 5 Commitments to extend credit $ 93,699,000 $ 82,995,000 Letters of credit $ 625,000 $ 265,000 |
Note 12 - Shareholders' Equity
Note 12 - Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Year Ended December 31, (In thousands, except per share data) 201 6 201 5 201 4 Net Income: Net income $ 7,474 $ 5,818 $ 4,738 Earnings Per Share: Basic earnings per share $ 1.54 $ 1.21 $ 0.99 Diluted earnings per share $ 1.47 $ 1.15 $ 0.95 Weighted Average Number of Shares Outstanding: Basic shares 4,864 4,817 4,793 Diluted shares 5,098 5,058 4,977 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of the activity within the 2001 Plan follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Intrinsic Value Options outstanding at January 1, 2014 365,059 $ 8.53 Options forfeited (47,266 ) 13.64 Options exercised (11,400 ) 2.95 Options outstanding at December 31, 2014 306,393 7.95 Options forfeited (74,600 ) 16.26 Options exercised (38,900 ) 2.95 Options outstanding at December 31, 201 5 192,893 5.75 Options forfeited (55,800 ) 12.61 Options exercised (55,200 ) 2.95 Option s outstanding at December 31, 2016 81,893 $ 2.95 2.2 $ 1,314,000 Options exercisable at December 31, 201 6 81,893 $ 2.95 2.2 $ 1,314,000 Expected to vest after December 31, 201 6 - Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Intrinsic Value Options outstanding at January 1, 2014 - Options granted 110,400 $ 6.32 Options outstanding at December 31, 2014 110,400 Options cancelled (7,200 ) Options exercised (800 ) Options outstanding at December 31, 2015 102,400 6.32 Option granted 108,000 8.75 Options cancelled (9,600 ) 7.94 Options exercised (8,000 ) 6.32 Options outstanding at December 31, 2016 192,800 $ 7.60 6.3 $ 2,198,000 Options exercisable at December 31, 2016 44,000 $ 6.32 5.3 $ 558,000 Expected to vest after December 31, 2016 129,798 $ 7.98 6.6 $ 1,430,000 |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Amount of Capital Required To be Well-Capitalized For Capital Under Prompt Actual Adequacy Purposes Corrective Provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2016 Common Equity Tier 1 Ratio $ 60,521 12.1 % $ 22,597 4.5 % $ 32,641 6.5 % Tier 1 Leverage Ratio 60,521 9.2 % 26,353 4.0 % 32,941 5.0 % Tier 1 Risk-Based Capital Ratio 60,521 12.1 % 30,130 6.0 % 40,173 8.0 % Total Risk-Based Capital Ratio 66,804 13.3 % 40,173 8.0 % 50,217 10.0 % December 31, 2015 Common Equity Tier 1 Ratio $ 56,300 12.7 % $ 19,908 4.5 % $ 28,756 6.5 % Tier 1 Leverage Ratio 56,300 9.4 % 23,999 4.0 % 29,999 5.0 % Tier 1 Risk-Based Capital Ratio 56,300 12.7 % 26,544 6.0 % 35,392 8.0 % Total Risk-Based Capital Ratio 61,839 14.0 % 35,392 8.0 % 44,240 10.0 % |
Note 13 - Other Expenses (Table
Note 13 - Other Expenses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Year Ended December 31, 201 6 201 5 201 4 Outside se rvice fees $ 2,105,000 $ 2,003,000 $ 2,042,000 Professional fees 608,000 707,000 583,000 Telephone and data communications 450,000 376,000 351,000 Advertising and promotion 366,000 305,000 282,000 Director compensation and retirement 348,000 300,000 298,000 Business development 344,000 332,000 279,000 Deposit insurance 285,000 362,000 387,000 Armored car and courier 248,000 234,000 224,000 Loan collection expenses 166,000 200,000 182,000 Stationery and supplies 119,000 105,000 122,000 Insurance 78,000 95,000 (9,000 ) Postage 40,000 41,000 45,000 Provision from change in OREO valuation 37,000 79,000 240,000 OREO expenses (34,000 ) 182,000 362,000 Gain on sale of other real estate (60,000 ) (198,000 ) (101,000 ) Other operating expenses 309,000 309,000 182,000 Other non-interest expense $ 5,409,000 $ 5,432,000 $ 5,469,000 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2016 Federal State Total Current $ 4,156,000 $ 1,263,000 $ 5,419,000 Deferred (575,000 ) (85,000 ) (660,000 ) Provision for income taxes $ 3,581,000 $ 1,178,000 $ 4,759,000 2015 Federal State Total Current $ 3,625,000 $ 631,000 $ 4,256,000 Deferred (848,000 ) 309,000 (539,000 ) Provision for income taxes $ 2,777,000 $ 940,000 $ 3,717,000 2014 Federal State Total Current $ 1,863,000 $ 58,000 $ 1,921,000 Deferred 401,000 764,000 1,165,000 Provision for income taxes $ 2,264,000 $ 822,000 $ 3,086,000 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 201 6 201 5 Deferred tax assets: Allowance for loan losses $ 1,741,000 $ 903,000 Deferred compensation 1,574,000 1,774,000 OREO valuation allowance 519,000 556,000 Premises and equipment 515,000 619,000 Unrealized loss on available-for-sale investment securities 682,000 30,000 Other 1,070,000 721,000 Total deferred tax assets 6,101,000 4,603,000 Deferred tax liabilities: Deferred loan costs (1,628,000 ) (1,436,000 ) Other (238,000 ) (244,000 ) Total deferred tax liabilities (1,866,000 ) (1,680,000 ) Net deferred tax assets $ 4,235,000 $ 2,923,000 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2016 2015 2014 Fed eral income tax, at statutory rate 34.0 % 34.0 % 34.0 % State franchise tax, net of Federal tax effect 6.9 % 6.9 % 6.9 % Interest on obligations of states and political subdivisions (1.5 )% (1.3 )% (0.7 )% Net increase in cash surrender value of bank owned life insurance (0.9 )% (1.2 )% (1.5 )% Other 0.4 % 0.6 % 0.7 % Effective tax rate 38.9 % 39.0 % 39.4 % |
Note 15 - Related Party Trans37
Note 15 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Balance, January 1, 201 6 $ 3,249,000 Disbursements 2,498,000 Amounts repaid (3,511,000 ) Balance, December 31, 201 6 $ 2,236,000 Undisbursed commitments to related parties, December 31, 201 6 $ 2,442,000 |
Note 17 - Parent Only Condens38
Note 17 - Parent Only Condensed Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | 201 6 201 5 ASSETS Cash and cash equivalents $ 281,000 $ 849,000 Investment in bank subsidiary 59,840,000 56,295,000 Other assets 571,000 552,000 Total assets $ 60,692,000 $ 57,696,000 LIABILITIES AND SHAREHOLDERS' EQUITY Other liabilities $ 13,000 $ 15,000 Note payable 2,375,000 4,875,000 Junior subordinated deferrable interest debentures 10,310,000 10,310,000 Total liabilities 12,698,000 15,200,000 Shareholders' equity: Common stock 5,918,000 6,475,000 Retained earnings 43,048,000 36,063,000 Accumulated other comprehensive loss (972,000 ) (42,000 ) Total shareholders' equity 47,994,000 42,496,000 Total liabilities and shareholders' equity $ 60,692,000 $ 57,696,000 |
Condensed Income Statement [Table Text Block] | 201 6 201 5 201 4 Income: Dividends declared by bank subsidiary $ 3,500,000 $ 4,000,000 $ 2,500,000 Earnings from investment in Plumas Statutory Trusts I and II 10,000 9,000 9,000 Total income 3,510,000 4,009,000 2,509,000 Expenses: Interest on note payable 133,000 155,000 111,000 Interest on subordinated debenture - 219,000 756,000 Interest on junior subordinated deferrable interest debentures 348,000 306,000 303,000 Other expenses 235,000 206,000 211,000 Total expenses 716,000 886,000 1,381,000 Income before equity in undistributed income of subsidiary 2,794,000 3,123,000 1,128,000 Equity in undistributed income of subsidiary 4,390,000 2,353,000 3,111,000 Income before income taxes 7,184,000 5,476,000 4,239,000 Income tax benefit 290,000 342,000 499,000 Net income $ 7,474,000 $ 5,818,000 $ 4,738,000 Total comprehensive income $ 6,544,000 $ 5,836,000 $ 5,841,000 |
Condensed Cash Flow Statement [Table Text Block] | 201 6 201 5 201 4 Cash flows from operating activities: Net income $ 7,474,000 $ 5,818,000 $ 4,738,000 Adjustments to reconcile net income to net cash provided by operating activities: Undistributed income of subsidiary (4,390,000 ) (2,353,000 ) (3,111,000 ) Amortization of discount on debentures - 45,000 159,000 Stock-based compensation expense 32,000 17,000 14,000 ( Decrease) increase in other assets (31,000 ) 238,000 207,000 Decrease in other liabilities (2,000 ) (7,000 ) (11,000 ) Net cash provided by operating activities 3,083,000 3,758,000 1,996,000 Cash flows from financing activities: Cash dividends paid on common stock (489,000 ) - - Redemption of subordinated debt - (7,500,000 ) - Repurchase of common stock warrant (862,000 ) - - Increase in note payable - 4,000,000 - Payment on note payable (2,500,000 ) (125,000 ) (2,000,000 ) Proceeds from exercise of stock options 200,000 88,000 34,000 Net cash used in financing activities (3,651,000 ) (3,537,000 ) (1,966,000 ) (Decrease) i ncrease in cash and cash equivalents (568,000 ) 221,000 30,000 Cash and cash equivalents at beginning of year 849,000 628,000 598,000 Cash and cash equivalents at end of year $ 281,000 $ 849,000 $ 628,000 |
Note 1 - The Business of Plum39
Note 1 - The Business of Plumas Bancorp (Details Textual) | Dec. 31, 2016 |
Number of Branches | 11 |
Note 2 - Summary of Significa40
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | ||
Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($)$ / sharesshares | |
Cash, Uninsured Amount | $ 9,900,000 | ||
Held-to-maturity Securities | 0 | $ 0 | |
Trading Securities | 0 | 0 | |
Federal Home Loan Bank Stock | 2,438,000 | 2,380,000 | |
Government Guaranteed Loans Held for Sale | 2,500,000 | 2,100,000 | |
Guaranteed Loans With Unpaid Balance | 96,592,000 | 86,589,000 | |
Threshold Limit for Loans to Be Reviewed for Credit Risk | 100,000 | ||
Provision For Off Balance Sheet Commitments | 200,000 | 200,000 | |
Real Estate Acquired Through Foreclosure | 735,000 | 1,756,000 | $ 3,590,000 |
Loans Settled With Other Real Estate Acquired Gross | 2,005,000 | 3,106,000 | |
Valuation Allowance Related to Loans Settled with Other Real Estate Acquired | $ 1,270,000 | $ 1,350,000 | |
Number of Mortgage Loans in Process of Foreclosure | 4 | 1 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 335,000 | $ 23,000 | |
Proceeds from Sale of Other Real Estate | 2,245,000 | 2,281,000 | 3,399,000 |
Gains (Losses) on Sales of Other Real Estate | 60,000 | 198,000 | 101,000 |
Intangible Assets, Net (Excluding Goodwill) | 87,000 | 94,000 | |
Unrecognized Tax Benefits, Period Increase (Decrease) | 0 | 0 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | (32,000) | 21,000 | 128,000 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | (13,000) | 9,000 | 53,000 |
Allocated Share-based Compensation Expense, Net of Tax | $ 103,000 | $ 70,000 | $ 75,000 |
Allocated Share Based Compensation Expense Net of Tax Per Diluted Share | $ / shares | $ 0.02 | $ 0.01 | $ 0.02 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 108,000 | 110,400 | |
Residential Portfolio Segment [Member] | |||
Real Estate Acquired Through Foreclosure | $ 84,000 | $ 84,000 | |
Minimum [Member] | |||
Guarantee Loans | 75.00% | ||
Minimum [Member] | Building [Member] | |||
Property, Plant and Equipment, Useful Life | 20 years | ||
Minimum [Member] | Furniture and Fixtures [Member] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Maximum [Member] | |||
Guarantee Loans | 85.00% | ||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Maximum [Member] | Building [Member] | |||
Property, Plant and Equipment, Useful Life | 30 years | ||
Maximum [Member] | Furniture and Fixtures [Member] | |||
Property, Plant and Equipment, Useful Life | 10 years | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||
Number of Major Customers | 0 | ||
Plumas Statutory Trust I [Member] | Accrued Interest Receivable and Other Assets [Member] | |||
Equity Method Investments | $ 319,000 | ||
Plumas Statutory Trust II [Member] | Accrued Interest Receivable and Other Assets [Member] | |||
Equity Method Investments | $ 166,000 |
Note 2 - Summary of Significa41
Note 2 - Summary of Significant Accounting Policies - Change in Other Real Estate (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 1,756,000 | $ 3,590,000 |
Additions | 1,200,000 | 328,000 |
Dispositions | (2,184,000) | (2,083,000) |
Write-downs | (37,000) | (79,000) |
Balance | $ 735,000 | $ 1,756,000 |
Note 2 - Summary of Significa42
Note 2 - Summary of Significant Accounting Policies - Fair Value of Each Option Estimated on the Date of Grant (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2014 | |
Expected life of stock options (in years) (Year) | 5 years 36 days | 5 years 73 days |
Risk free interest rate | 1.52% | 1.64% |
Volatility | 53.60% | 63.80% |
Dividend yields | 2.00% | 2.00% |
Weighted-average fair value of options granted during the year (in dollars per share) | $ 3.55 | $ 3.02 |
Note 3 - Fair Value Measureme43
Note 3 - Fair Value Measurements (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ (112,000) | $ (126,000) |
Impaired Loans [Member] | ||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ (75,000) | $ (47,000) |
Note 3 - Fair Value Measureme44
Note 3 - Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Cash and cash equivalents, Carrying value | $ 62,646,000 | $ 68,195,000 | $ 45,574,000 | $ 49,917,000 |
Cash and cash equivalents, Fair value | 62,646,000 | 68,195,000 | ||
Total , Estimated fair value | 101,595,000 | 96,704,000 | ||
Loans, net, Carrying value | 456,580,000 | 396,833,000 | ||
Loans, net, Fair value | 459,618,000 | 395,338,000 | ||
Federal Home Loan Bank Stock | 2,438,000 | 2,380,000 | ||
Accrued interest receivable, Carrying value | 2,312,000 | 2,048,000 | ||
Accrued interest receivable, Fair value | 2,312,000 | 2,048,000 | ||
Deposits, Carrying value | 582,353,000 | 527,276,000 | ||
Deposits, Fair value | 582,336,000 | 527,300,000 | ||
Securities Sold under Agreements to Repurchase | 7,547,000 | 7,671,000 | ||
Repurchase agreements, Fair value | 7,547,000 | |||
Notes Payable | 2,375,000 | 4,875,000 | ||
Note payable, Fair value | 2,375,000 | 4,875,000 | ||
Junior subordinated deferrable interest debentures, Carrying value | 10,310,000 | 10,310,000 | ||
Junior subordinated deferrable interest debentures, Fair value | 7,762,000 | 6,662,000 | ||
Accrued interest payable, Carrying value | 59,000 | 58,000 | ||
Accrued interest payable, Fair value | 59,000 | 58,000 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Cash and cash equivalents, Fair value | 62,646,000 | 68,195,000 | ||
Accrued interest receivable, Fair value | 7,000 | 26,000 | ||
Deposits, Fair value | 532,750,000 | 475,013,000 | ||
Accrued interest payable, Fair value | 9,000 | 8,000 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Total , Estimated fair value | 101,595,000 | 96,704,000 | ||
Accrued interest receivable, Fair value | 398,000 | 328,000 | ||
Deposits, Fair value | 49,586,000 | 52,287,000 | ||
Repurchase agreements, Fair value | 7,547,000 | 7,671,000 | ||
Accrued interest payable, Fair value | 36,000 | 38,000 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Loans, net, Fair value | 459,618,000 | 395,338,000 | ||
Accrued interest receivable, Fair value | 1,907,000 | 1,694,000 | ||
Note payable, Fair value | 2,375,000 | 4,875,000 | ||
Junior subordinated deferrable interest debentures, Fair value | 7,762,000 | 6,662,000 | ||
Accrued interest payable, Fair value | $ 14,000 | $ 12,000 |
Note 3 - Fair Value Measureme45
Note 3 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Investment securities | $ 96,704,000 | |
Fair Value, Inputs, Level 2 [Member] | ||
Investment securities | 96,704,000 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities | $ 74,911,000 | 72,370,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities | 74,911,000 | 72,370,000 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Investment securities | 1,977,000 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities | 1,977,000 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities | 26,684,000 | 22,357,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities | 26,684,000 | $ 22,357,000 |
Corporate Debt Securities [Member] | ||
Investment securities | 101,595,000 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities | $ 101,595,000 |
Note 3 - Fair Value Measureme46
Note 3 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value On a Non-recurring Basis (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Assets Fair Value Disclosure Nonrecurring | $ 1,271,000 | $ 3,083,000 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (112,000) | (126,000) |
Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 1,271,000 | 3,083,000 |
Impaired Loans [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 536,000 | 1,327,000 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (75,000) | (47,000) |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 536,000 | 1,327,000 |
Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 735,000 | 1,756,000 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (37,000) | (79,000) |
Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 735,000 | 1,756,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Impaired Loans [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 453,000 | 1,214,000 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (81,000) | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 453,000 | 1,214,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 84,000 | 156,000 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (37,000) | (127,000) |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 84,000 | 156,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Impaired Loans [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 30,000 | |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (53,000) | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 30,000 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 641,000 | 1,516,000 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 75,000 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 641,000 | 1,516,000 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 10,000 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 10,000 | |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | Impaired Loans [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 83,000 | 83,000 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 6,000 | 6,000 |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 83,000 | 83,000 |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 84,000 | |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (27,000) | |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 84,000 |
Note 3 - Fair Value Measureme47
Note 3 - Fair Value Measurements - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Assets Fair Value Disclosure Nonrecurring | $ 1,271,000 | $ 3,083,000 |
Impaired Loans [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 536,000 | 1,327,000 |
Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | 735,000 | 1,756,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Impaired Loans [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 453,000 | $ 1,214,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Impaired Loans [Member] | Minimum [Member] | ||
Impaired loans, other real estate - unobservable input range | 9.00% | 12.00% |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | 12.00% |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Impaired loans, other real estate - unobservable input range | 12.00% | 12.00% |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 84,000 | $ 156,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | Minimum [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | 40.00% |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | Weighted Average [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | 40.00% |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | Maximum [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | 40.00% |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Impaired Loans [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 30,000 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Impaired Loans [Member] | Minimum [Member] | ||
Impaired loans, other real estate - unobservable input range | 8.00% | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Impaired loans, other real estate - unobservable input range | 8.00% | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Impaired loans, other real estate - unobservable input range | 8.00% | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 641,000 | $ 1,516,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Other Real Estate [Member] | Minimum [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | 10.00% |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Other Real Estate [Member] | Weighted Average [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | 33.00% |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Other Real Estate [Member] | Maximum [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | 36.00% |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Impaired Loans [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 83,000 | $ 83,000 |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Impaired Loans [Member] | Minimum [Member] | ||
Impaired loans, other real estate - unobservable input range | 8.00% | 8.00% |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Impaired loans, other real estate - unobservable input range | 8.00% | 8.00% |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Impaired loans, other real estate - unobservable input range | 8.00% | 8.00% |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 84,000 | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Other Real Estate [Member] | Minimum [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Other Real Estate [Member] | Weighted Average [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | |
Consumer Portfolio Segment [Member] | Home Equity Loan [Member] | Other Real Estate [Member] | Maximum [Member] | ||
Impaired loans, other real estate - unobservable input range | 10.00% | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | ||
Assets Fair Value Disclosure Nonrecurring | $ 10,000 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | Minimum [Member] | ||
Impaired loans, other real estate - unobservable input range | 48.00% | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | Weighted Average [Member] | ||
Impaired loans, other real estate - unobservable input range | 48.00% | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Other Real Estate [Member] | Maximum [Member] | ||
Impaired loans, other real estate - unobservable input range | 48.00% |
Note 4 - Investment Securitie48
Note 4 - Investment Securities (Details Textual) | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), before Tax | $ (1,654,000) | $ (72,000) | $ (102,000) |
Available-for-sale Securities Income Tax Expense Benefit on Accumulated Gross Unrealized Gains Losses | $ (682,000) | $ (30,000) | $ (42,000) |
Number of Securities Sold During Period | 14 | 15 | 14 |
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | $ 14,589,000 | $ 12,260,000 | $ 16,325,000 |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ (32,000) | $ 21,000 | $ 128,000 |
Number of Securities Sold for Gain | 8 | 8 | 13 |
Available-for-sale Securities, Gross Realized Gains | $ 48,000 | $ 62,000 | $ 134,000 |
Number of Securities Sold for Loss | 6 | 7 | 1 |
Available-for-sale Securities, Gross Realized Losses | $ 80,000 | $ 41,000 | $ 6,000 |
Number of Investment Securities | 166 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 127 | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 123 | ||
Available-for-sale Debt Securities Pledged to Secure Deposits and Repurchase Agreements Amortized Cost Basis | $ 73,331,000 | 62,914,000 | |
Available-for-sale Securities Pledged as Collateral | $ 72,112,000 | $ 62,483,000 | |
Available-for-sale Securities Transfers to Trading and Held to Maturity | 0 | 0 | |
Held-to-maturity Securities | $ 0 | $ 0 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Number of Investment Securities | 61 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Number of Investment Securities | 66 |
Note 4 - Investment Securitie49
Note 4 - Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Investment securities available for sale, amortized cost | $ 103,249,000 | $ 96,776,000 |
Investment securities available for sale, gross unrealized gains | 100,000 | 604,000 |
Investment securities available for sale, gross unrealized losses | (1,754,000) | (676,000) |
Investment securities available for sale | 101,595,000 | 96,704,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities available for sale, amortized cost | 76,207,000 | 72,965,000 |
Investment securities available for sale, gross unrealized gains | 11,000 | 56,000 |
Investment securities available for sale, gross unrealized losses | (1,307,000) | (651,000) |
Investment securities available for sale | 74,911,000 | 72,370,000 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 1,994,000 | |
Investment securities available for sale, gross unrealized gains | ||
Investment securities available for sale, gross unrealized losses | (17,000) | |
Investment securities available for sale | 1,977,000 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 27,042,000 | 21,817,000 |
Investment securities available for sale, gross unrealized gains | 89,000 | 548,000 |
Investment securities available for sale, gross unrealized losses | (447,000) | (8,000) |
Investment securities available for sale | $ 26,684,000 | $ 22,357,000 |
Note 4 - Investment Securitie50
Note 4 - Investment Securities - Investment Securities With Unrealized Losses (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Less than 12 months fair value | $ 86,390,000 | $ 48,412,000 |
Less than 12 months unrealized losses | 1,684,000 | 351,000 |
12 months or more fair value | 2,043,000 | 12,040,000 |
12 months or more unrealized losses | 70,000 | 325,000 |
Total fair value | 88,433,000 | 60,452,000 |
Total unrealized losses | 1,754,000 | 676,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than 12 months fair value | 68,338,000 | 45,398,000 |
Less than 12 months unrealized losses | 1,237,000 | 327,000 |
12 months or more fair value | 2,043,000 | 11,880,000 |
12 months or more unrealized losses | 70,000 | 324,000 |
Total fair value | 70,381,000 | 57,278,000 |
Total unrealized losses | 1,307,000 | 651,000 |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months fair value | 1,977,000 | |
Less than 12 months unrealized losses | 17,000 | |
12 months or more fair value | ||
12 months or more unrealized losses | ||
Total fair value | 1,977,000 | |
Total unrealized losses | 17,000 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months fair value | 18,052,000 | 1,037,000 |
Less than 12 months unrealized losses | 447,000 | 7,000 |
12 months or more fair value | 160,000 | |
12 months or more unrealized losses | 1,000 | |
Total fair value | 18,052,000 | 1,197,000 |
Total unrealized losses | $ 447,000 | $ 8,000 |
Note 4 - Investment Securitie51
Note 4 - Investment Securities - Investment Securities by Contractual Maturity (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
After one year through five years, Amortized cost | $ 898,000 | |
After one year through five years, Estimated fair value | 893,000 | |
After five years through ten years, Amortized cost | 16,052,000 | |
After five years through ten years, Estimated fair value | 15,978,000 | |
After ten years, Amortized cost | 10,092,000 | |
After ten years, Estimated fair value | 9,813,000 | |
Total , Amortized cost | 103,249,000 | $ 96,776,000 |
Total , Estimated fair value | 101,595,000 | 96,704,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Government-sponsored mortgage-backed securities, Amortized cost | 76,207,000 | |
Government-sponsored mortgage-backed securities, Estimated fair value | 74,911,000 | |
Total , Amortized cost | 76,207,000 | 72,965,000 |
Total , Estimated fair value | $ 74,911,000 | $ 72,370,000 |
Note 5 - Loans and the Allowa52
Note 5 - Loans and the Allowance for Loan Losses (Details Textual) xbrli-pure in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Impaired Financing Receivable, Recorded Investment | $ 5,442,000 | $ 6,461,000 | $ 8,582,000 |
Impaired Financing Receivable, Related Allowance | 366,000 | 751,000 | 564,000 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,534,000 | 2,346,000 | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,908,000 | 4,115,000 | |
Impaired Financing Receivable, Average Recorded Investment | 5,077,000 | 6,528,000 | 8,070,000 |
Impaired Financing Receivable, Interest Income, Accrual Method | 149,000 | 119,000 | 152,000 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 29,000 | 0 | 31,000 |
Financing Receivable, Modifications, Recorded Investment | 4,616,000 | 4,661,000 | |
Financing Receivable Modifications Related Allowances | 342,000 | 311,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,724,000 | 4,546,000 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 164,000 | 303,000 | 345,000 |
Deferred Loan Origination Costs | 1,882,000 | 1,337,000 | $ 1,441,000 |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 0 | $ 0 |
Note 5 - Loans and the Allowa53
Note 5 - Loans and the Allowance for Loan Losses - Outstanding Loans (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Loans | $ 461,123,000 | $ 400,971,000 | ||
Deferred loan costs, net | 2,006,000 | 1,940,000 | ||
Allowance for loan losses | (6,549,000) | (6,078,000) | $ (5,451,000) | $ (5,517,000) |
Loans, net | 456,580,000 | 396,833,000 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||||
Loans | 41,293,000 | 37,084,000 | ||
Allowance for loan losses | (655,000) | (639,000) | (574,000) | (785,000) |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||||
Loans | 51,103,000 | 39,856,000 | ||
Allowance for loan losses | (466,000) | (294,000) | (225,000) | (164,000) |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Loans | 226,136,000 | 192,095,000 | ||
Allowance for loan losses | (2,740,000) | (2,525,000) | (1,701,000) | (1,774,000) |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans | 21,904,000 | 16,188,000 | ||
Allowance for loan losses | (927,000) | (874,000) | (1,227,000) | (944,000) |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Loans | 21,283,000 | 25,474,000 | ||
Allowance for loan losses | (280,000) | (341,000) | (379,000) | (638,000) |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||||
Loans | 42,338,000 | 38,327,000 | ||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||||
Loans | 53,553,000 | 48,365,000 | ||
Allowance for loan losses | (815,000) | (784,000) | (581,000) | (449,000) |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||
Loans | 3,513,000 | 3,582,000 | ||
Allowance for loan losses | $ (91,000) | $ (93,000) | $ (73,000) | $ (150,000) |
Note 5 - Loans and the Allowa54
Note 5 - Loans and the Allowance for Loan Losses - Changes in the Allowance for Loan Losses (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance, beginning of year | $ 6,078,000 | $ 5,451,000 | $ 5,517,000 |
Provision for loan losses | 800,000 | 1,100,000 | 1,100,000 |
Losses charged to allowance | (979,000) | (827,000) | (1,913,000) |
Recoveries | 650,000 | 354,000 | 747,000 |
Balance, end of year | $ 6,549,000 | $ 6,078,000 | $ 5,451,000 |
Note 5 - Loans and the Allowa55
Note 5 - Loans and the Allowance for Loan Losses - Loan Portfolio Allocated by Management's Internal Risk Ratings (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Loans | $ 461,123,000 | $ 400,971,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 41,293,000 | 37,084,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | 51,103,000 | 39,856,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 226,136,000 | 192,095,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 21,904,000 | 16,188,000 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 21,283,000 | 25,474,000 |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | 42,338,000 | 38,327,000 |
Commercial and Residential Portfolio Segments [Member] | ||
Loans | 404,057,000 | 349,024,000 |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 40,459,000 | 35,508,000 |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | 50,790,000 | 39,426,000 |
Pass [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 223,854,000 | 185,739,000 |
Pass [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 21,201,000 | 15,048,000 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 21,125,000 | 25,220,000 |
Pass [Member] | Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | 41,983,000 | 37,983,000 |
Pass [Member] | Commercial and Residential Portfolio Segments [Member] | ||
Loans | 399,412,000 | 338,924,000 |
Watch [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 565,000 | 883,000 |
Watch [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | 280,000 | 387,000 |
Watch [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 400,000 | 2,442,000 |
Watch [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 247,000 | |
Watch [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 149,000 | |
Watch [Member] | Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | ||
Watch [Member] | Commercial and Residential Portfolio Segments [Member] | ||
Loans | 1,245,000 | 4,108,000 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 269,000 | 693,000 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | 33,000 | 43,000 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 1,882,000 | 3,914,000 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 703,000 | 893,000 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 158,000 | 105,000 |
Substandard [Member] | Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | 355,000 | 344,000 |
Substandard [Member] | Commercial and Residential Portfolio Segments [Member] | ||
Loans | 3,400,000 | 5,992,000 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | ||
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | ||
Doubtful [Member] | Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | ||
Doubtful [Member] | Commercial and Residential Portfolio Segments [Member] | ||
Loans |
Note 5 - Loans and the Allowa56
Note 5 - Loans and the Allowance for Loan Losses - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Loans | $ 461,123,000 | $ 400,971,000 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 56,985,000 | 51,882,000 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 81,000 | 65,000 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans | 53,553,000 | 48,365,000 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 53,474,000 | 48,300,000 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 79,000 | 65,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans | 3,513,000 | 3,582,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Performing Financial Instruments [Member] | ||
Loans | 3,511,000 | 3,582,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 2,000 | |
Consumer Portfolio Segment [Member] | Residential Portfolio Segment [Member] | ||
Loans | $ 57,066,000 | |
Consumer Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | ||
Loans | $ 51,947,000 |
Note 5 - Loans and the Allowa57
Note 5 - Loans and the Allowance for Loan Losses - Allocation of the Allowance for Loan Losses (Details) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, beginning of year | $ 6,078,000 | $ 5,451,000 | $ 5,517,000 | ||
Losses charged to allowance | (979,000) | (827,000) | (1,913,000) | ||
Recoveries | 650,000 | 354,000 | 747,000 | ||
Provision | 800,000 | 1,100,000 | 1,100,000 | ||
Balance, end of year | 6,549,000 | 6,078,000 | 5,451,000 | ||
Allowance for loan losses, individually evaluated for impairment | $ 366,000 | $ 751,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 6,183,000 | 5,327,000 | |||
Loans | 461,123,000 | 400,971,000 | |||
Loans, individually evaluated for impairment | 5,442,000 | 6,461,000 | |||
Loans, collectively evaluated for impairment | 455,681,000 | 394,510,000 | |||
Allowance for loan losses, individually evaluated for impairment | 366,000 | 751,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 6,183,000 | 5,327,000 | |||
Loans | 461,123,000 | 400,971,000 | 461,123,000 | 400,971,000 | |
Loans, individually evaluated for impairmen | 5,442,000 | 6,461,000 | |||
Loans, collectively evaluated for impairment | 455,681,000 | 394,510,000 | |||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Balance, beginning of year | 639,000 | 574,000 | 785,000 | ||
Losses charged to allowance | (268,000) | (88,000) | (191,000) | ||
Recoveries | 53,000 | 167,000 | 89,000 | ||
Provision | 231,000 | (14,000) | (109,000) | ||
Balance, end of year | 655,000 | 639,000 | 574,000 | ||
Allowance for loan losses, individually evaluated for impairment | 2,000 | 26,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 653,000 | 613,000 | |||
Loans | 41,293,000 | 37,084,000 | |||
Loans, individually evaluated for impairment | 16,000 | 73,000 | |||
Loans, collectively evaluated for impairment | 41,277,000 | 37,011,000 | |||
Allowance for loan losses, individually evaluated for impairment | 2,000 | 26,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 653,000 | 613,000 | |||
Loans | 41,293,000 | 37,084,000 | 41,293,000 | 37,084,000 | |
Loans, individually evaluated for impairmen | 16,000 | 73,000 | |||
Loans, collectively evaluated for impairment | 41,277,000 | 37,011,000 | |||
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||||
Balance, beginning of year | 294,000 | 225,000 | 164,000 | ||
Losses charged to allowance | (3,000) | ||||
Recoveries | 6,000 | ||||
Provision | 172,000 | 66,000 | 61,000 | ||
Balance, end of year | 466,000 | 294,000 | 225,000 | ||
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 466,000 | 294,000 | |||
Loans | 51,103,000 | 39,856,000 | |||
Loans, individually evaluated for impairment | 258,000 | 260,000 | |||
Loans, collectively evaluated for impairment | 50,845,000 | 39,596,000 | |||
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 466,000 | 294,000 | |||
Loans | 51,103,000 | 39,856,000 | 51,103,000 | 39,856,000 | |
Loans, individually evaluated for impairmen | 258,000 | 260,000 | |||
Loans, collectively evaluated for impairment | 50,845,000 | 39,596,000 | |||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance, beginning of year | 2,525,000 | 1,701,000 | 1,774,000 | ||
Losses charged to allowance | (253,000) | (888,000) | |||
Recoveries | 3,000 | 6,000 | |||
Provision | 465,000 | 824,000 | 809,000 | ||
Balance, end of year | 2,740,000 | 2,525,000 | 1,701,000 | ||
Allowance for loan losses, individually evaluated for impairment | 81,000 | 371,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 2,659,000 | 2,154,000 | |||
Loans | 226,136,000 | 192,095,000 | |||
Loans, individually evaluated for impairment | 2,323,000 | 3,129,000 | |||
Loans, collectively evaluated for impairment | 223,813,000 | 188,966,000 | |||
Allowance for loan losses, individually evaluated for impairment | 81,000 | 371,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 2,659,000 | 2,154,000 | |||
Loans | 226,136,000 | 192,095,000 | 226,136,000 | 192,095,000 | |
Loans, individually evaluated for impairmen | 2,323,000 | 3,129,000 | |||
Loans, collectively evaluated for impairment | 223,813,000 | 188,966,000 | |||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||
Balance, beginning of year | 874,000 | 1,227,000 | 944,000 | ||
Losses charged to allowance | (5,000) | (55,000) | (106,000) | ||
Recoveries | 389,000 | 491,000 | |||
Provision | (331,000) | (298,000) | (102,000) | ||
Balance, end of year | 927,000 | 874,000 | 1,227,000 | ||
Allowance for loan losses, individually evaluated for impairment | 206,000 | 269,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 721,000 | 605,000 | |||
Loans | 21,904,000 | 16,188,000 | |||
Loans, individually evaluated for impairment | 833,000 | 1,029,000 | |||
Loans, collectively evaluated for impairment | 21,071,000 | 15,159,000 | |||
Allowance for loan losses, individually evaluated for impairment | 206,000 | 269,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 721,000 | 605,000 | |||
Loans | 21,904,000 | 16,188,000 | 21,904,000 | 16,188,000 | |
Loans, individually evaluated for impairmen | 833,000 | 1,029,000 | |||
Loans, collectively evaluated for impairment | 21,071,000 | 15,159,000 | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance, beginning of year | 341,000 | 379,000 | 638,000 | ||
Losses charged to allowance | (39,000) | (132,000) | (127,000) | ||
Recoveries | 42,000 | 8,000 | 13,000 | ||
Provision | (64,000) | 86,000 | (145,000) | ||
Balance, end of year | 280,000 | 341,000 | 379,000 | ||
Allowance for loan losses, individually evaluated for impairment | 53,000 | 54,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 227,000 | 287,000 | |||
Loans | 21,283,000 | 25,474,000 | |||
Loans, individually evaluated for impairment | 1,615,000 | 1,593,000 | |||
Loans, collectively evaluated for impairment | 19,668,000 | 23,881,000 | |||
Allowance for loan losses, individually evaluated for impairment | 53,000 | 54,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 227,000 | 287,000 | |||
Loans | 21,283,000 | 25,474,000 | 21,283,000 | 25,474,000 | |
Loans, individually evaluated for impairmen | 1,615,000 | 1,593,000 | |||
Loans, collectively evaluated for impairment | 19,668,000 | 23,881,000 | |||
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | |||||
Balance, beginning of year | 528,000 | 691,000 | 613,000 | ||
Losses charged to allowance | (23,000) | (98,000) | (205,000) | ||
Recoveries | 2,000 | 6,000 | 5,000 | ||
Provision | 68,000 | (71,000) | 278,000 | ||
Balance, end of year | 575,000 | 528,000 | 691,000 | ||
Allowance for loan losses, individually evaluated for impairment | 24,000 | 31,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 551,000 | 497,000 | |||
Loans | 42,338,000 | 38,327,000 | |||
Loans, individually evaluated for impairment | 326,000 | 311,000 | |||
Loans, collectively evaluated for impairment | 42,012,000 | 38,016,000 | |||
Allowance for loan losses, individually evaluated for impairment | 24,000 | 31,000 | |||
Allowance for loan losses, collectively evaluated for impairment | 551,000 | 497,000 | |||
Loans | 42,338,000 | 38,327,000 | 42,338,000 | 38,327,000 | |
Loans, individually evaluated for impairmen | 326,000 | 311,000 | |||
Loans, collectively evaluated for impairment | 42,012,000 | 38,016,000 | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||||
Balance, beginning of year | 784,000 | 581,000 | 449,000 | ||
Losses charged to allowance | (319,000) | (414,000) | (282,000) | ||
Recoveries | 131,000 | 124,000 | 73,000 | ||
Provision | 219,000 | 493,000 | 341,000 | ||
Balance, end of year | 815,000 | 784,000 | 581,000 | ||
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 815,000 | 784,000 | |||
Loans | 53,553,000 | 48,365,000 | |||
Loans, individually evaluated for impairment | 69,000 | 66,000 | |||
Loans, collectively evaluated for impairment | 53,484,000 | 48,299,000 | |||
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 815,000 | 784,000 | |||
Loans | 53,553,000 | 48,365,000 | 53,553,000 | 48,365,000 | |
Loans, individually evaluated for impairmen | 69,000 | 66,000 | |||
Loans, collectively evaluated for impairment | 53,484,000 | 48,299,000 | |||
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
Balance, beginning of year | 93,000 | 73,000 | 150,000 | ||
Losses charged to allowance | (72,000) | (37,000) | (114,000) | ||
Recoveries | 30,000 | 43,000 | 70,000 | ||
Provision | 40,000 | 14,000 | (33,000) | ||
Balance, end of year | 91,000 | 93,000 | $ 73,000 | ||
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 91,000 | 93,000 | |||
Loans | 3,513,000 | 3,582,000 | |||
Loans, individually evaluated for impairment | 2,000 | ||||
Loans, collectively evaluated for impairment | 3,511,000 | 3,582,000 | |||
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 91,000 | 93,000 | |||
Loans | $ 3,513,000 | $ 3,582,000 | 3,513,000 | 3,582,000 | |
Loans, individually evaluated for impairmen | 2,000 | ||||
Loans, collectively evaluated for impairment | $ 3,511,000 | $ 3,582,000 |
Note 5 - Loans and the Allowa58
Note 5 - Loans and the Allowance for Loan Losses - Aging Analysis of the Loan Portfolio (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Loans, past due | $ 4,727,000 | $ 6,093,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,724,000 | 4,546,000 |
Loans, current | 456,396,000 | 394,878,000 |
Loans | 461,123,000 | 400,971,000 |
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 2,003,000 | 1,547,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans, past due | 77,000 | 513,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 56,000 | |
Loans, current | 41,216,000 | 36,571,000 |
Loans | 41,293,000 | 37,084,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 77,000 | 457,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans, past due | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | ||
Loans, current | 51,103,000 | 39,856,000 |
Loans | 51,103,000 | 39,856,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans, past due | 1,998,000 | 3,130,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,479,000 | 3,130,000 |
Loans, current | 224,138,000 | 188,965,000 |
Loans | 226,136,000 | 192,095,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 519,000 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans, past due | 713,000 | 902,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 703,000 | 893,000 |
Loans, current | 21,191,000 | 15,286,000 |
Loans | 21,904,000 | 16,188,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 10,000 | 9,000 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans, past due | 324,000 | 562,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 145,000 | 90,000 |
Loans, current | 20,959,000 | 24,912,000 |
Loans | 21,283,000 | 25,474,000 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 179,000 | 472,000 |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans, past due | 602,000 | 320,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 326,000 | 312,000 |
Loans, current | 41,736,000 | 38,007,000 |
Loans | 42,338,000 | 38,327,000 |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 276,000 | 8,000 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans, past due | 988,000 | 651,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 69,000 | 65,000 |
Loans, current | 52,565,000 | 47,714,000 |
Loans | 53,553,000 | 48,365,000 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 919,000 | 586,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans, past due | 25,000 | 15,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,000 | |
Loans, current | 3,488,000 | 3,567,000 |
Loans | 3,513,000 | 3,582,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | $ 23,000 | $ 15,000 |
Note 5 - Loans and the Allowa59
Note 5 - Loans and the Allowance for Loan Losses - Impaired Loans (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Recorded investment with no related allowance recorded | $ 3,908,000 | $ 4,115,000 | |
Recorded investment with an allowance | 1,534,000 | 2,346,000 | |
Related Allowance | 366,000 | 751,000 | $ 564,000 |
Recorded investment | 5,442,000 | 6,461,000 | 8,582,000 |
Unpaid principal balance | 6,100,000 | 7,119,000 | 9,246,000 |
Average recorded investment | 5,077,000 | 6,528,000 | 8,070,000 |
Interest income recognized | 149,000 | 119,000 | 152,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Recorded investment with no related allowance recorded | 47,000 | 55,000 | |
Unpaid principal balance with no related allowance recorded | 47,000 | 55,000 | |
Average recorded investment with no related allowance recorded | 39,000 | 61,000 | |
Interest income recognized with no related allowance recorded | 1,000 | 1,000 | |
Recorded investment with an allowance | 16,000 | 26,000 | |
Unpaid principal balance with allowance | 16,000 | 26,000 | |
Related Allowance | 2,000 | 26,000 | |
Average recorded investment with an allowance | 16,000 | 29,000 | |
Interest income recognized with an allowance | 1,000 | ||
Recorded investment | 16,000 | 73,000 | 55,000 |
Unpaid principal balance | 16,000 | 73,000 | 55,000 |
Average recorded investment | 16,000 | 68,000 | 61,000 |
Interest income recognized | 1,000 | 1,000 | 1,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Recorded investment with no related allowance recorded | 258,000 | 260,000 | 605,000 |
Unpaid principal balance with no related allowance recorded | 258,000 | 260,000 | 605,000 |
Average recorded investment with no related allowance recorded | 259,000 | 262,000 | 605,000 |
Interest income recognized with no related allowance recorded | 19,000 | 20,000 | 51,000 |
Recorded investment with an allowance | |||
Unpaid principal balance with allowance | |||
Average recorded investment with an allowance | |||
Interest income recognized with an allowance | |||
Recorded investment | 258,000 | 260,000 | 605,000 |
Unpaid principal balance | 258,000 | 260,000 | 605,000 |
Average recorded investment | 259,000 | 262,000 | 605,000 |
Interest income recognized | 19,000 | 20,000 | 51,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Recorded investment with no related allowance recorded | 1,789,000 | 1,976,000 | 3,389,000 |
Unpaid principal balance with no related allowance recorded | 2,227,000 | 2,622,000 | 4,036,000 |
Average recorded investment with no related allowance recorded | 1,589,000 | 2,057,000 | 2,460,000 |
Interest income recognized with no related allowance recorded | 33,000 | ||
Recorded investment with an allowance | 534,000 | 1,154,000 | 254,000 |
Unpaid principal balance with allowance | 742,000 | 1,154,000 | 254,000 |
Related Allowance | 81,000 | 371,000 | 65,000 |
Average recorded investment with an allowance | 534,000 | 1,203,000 | 589,000 |
Interest income recognized with an allowance | |||
Recorded investment | 2,323,000 | 3,130,000 | 3,643,000 |
Unpaid principal balance | 2,969,000 | 3,776,000 | 4,290,000 |
Average recorded investment | 2,123,000 | 3,260,000 | 3,049,000 |
Interest income recognized | 33,000 | ||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Recorded investment with no related allowance recorded | 198,000 | 221,000 | 495,000 |
Unpaid principal balance with no related allowance recorded | 198,000 | 221,000 | 495,000 |
Average recorded investment with no related allowance recorded | 210,000 | 232,000 | 512,000 |
Interest income recognized with no related allowance recorded | 9,000 | ||
Recorded investment with an allowance | 635,000 | 808,000 | 757,000 |
Unpaid principal balance with allowance | 635,000 | 808,000 | 757,000 |
Related Allowance | 206,000 | 269,000 | 274,000 |
Average recorded investment with an allowance | 658,000 | 822,000 | 778,000 |
Interest income recognized with an allowance | 8,000 | 8,000 | |
Recorded investment | 833,000 | 1,029,000 | 1,252,000 |
Unpaid principal balance | 833,000 | 1,029,000 | 1,252,000 |
Average recorded investment | 868,000 | 1,054,000 | 1,290,000 |
Interest income recognized | 8,000 | 8,000 | 9,000 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Recorded investment with no related allowance recorded | 1,373,000 | 1,347,000 | 1,422,000 |
Unpaid principal balance with no related allowance recorded | 1,385,000 | 1,359,000 | 1,433,000 |
Average recorded investment with no related allowance recorded | 1,291,000 | 1,346,000 | 1,443,000 |
Interest income recognized with no related allowance recorded | 77,000 | 79,000 | 80,000 |
Recorded investment with an allowance | 242,000 | 245,000 | 1,096,000 |
Unpaid principal balance with allowance | 242,000 | 245,000 | 1,102,000 |
Related Allowance | 53,000 | 54,000 | 51,000 |
Average recorded investment with an allowance | 243,000 | 246,000 | 1,112,000 |
Interest income recognized with an allowance | 11,000 | 11,000 | 11,000 |
Recorded investment | 1,615,000 | 1,592,000 | 2,518,000 |
Unpaid principal balance | 1,627,000 | 1,604,000 | 2,535,000 |
Average recorded investment | 1,534,000 | 1,592,000 | 2,555,000 |
Interest income recognized | 88,000 | 90,000 | 91,000 |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | |||
Recorded investment with no related allowance recorded | 219,000 | 199,000 | 121,000 |
Unpaid principal balance with no related allowance recorded | 219,000 | 199,000 | 121,000 |
Average recorded investment with no related allowance recorded | 121,000 | 156,000 | 130,000 |
Interest income recognized with no related allowance recorded | |||
Recorded investment with an allowance | 107,000 | 113,000 | 294,000 |
Unpaid principal balance with allowance | 107,000 | 113,000 | 294,000 |
Related Allowance | 24,000 | 31,000 | 174,000 |
Average recorded investment with an allowance | 110,000 | 115,000 | 299,000 |
Interest income recognized with an allowance | |||
Recorded investment | 326,000 | 312,000 | 415,000 |
Unpaid principal balance | 326,000 | 312,000 | 415,000 |
Average recorded investment | 231,000 | 271,000 | 429,000 |
Interest income recognized | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||
Recorded investment with no related allowance recorded | 69,000 | 65,000 | 93,000 |
Unpaid principal balance with no related allowance recorded | 69,000 | 65,000 | 93,000 |
Average recorded investment with no related allowance recorded | 46,000 | 21,000 | 81,000 |
Interest income recognized with no related allowance recorded | |||
Recorded investment with an allowance | |||
Unpaid principal balance with allowance | |||
Average recorded investment with an allowance | |||
Interest income recognized with an allowance | |||
Recorded investment | 69,000 | 65,000 | 93,000 |
Unpaid principal balance | 69,000 | 65,000 | 93,000 |
Average recorded investment | 46,000 | 21,000 | 81,000 |
Interest income recognized | |||
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Recorded investment with no related allowance recorded | 2,000 | 1,000 | |
Unpaid principal balance with no related allowance recorded | 2,000 | 1,000 | |
Average recorded investment with no related allowance recorded | |||
Interest income recognized with no related allowance recorded | |||
Recorded investment with an allowance | |||
Unpaid principal balance with allowance | |||
Average recorded investment with an allowance | |||
Interest income recognized with an allowance | |||
Recorded investment | 2,000 | 1,000 | |
Unpaid principal balance | 2,000 | 1,000 | |
Average recorded investment | |||
Interest income recognized |
Note 6 - Premises and Equipme60
Note 6 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Depreciation, Depletion and Amortization | $ 1,024,000 | $ 1,055,000 | $ 1,147,000 |
Note 6 - Premises and Equipme61
Note 6 - Premises and Equipment - Premises and Equipment (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Premises and equipment | $ 26,396,000 | $ 26,187,000 |
Less accumulated depreciation and amortization | (14,628,000) | (13,953,000) |
Premises and equipment, net | 11,768,000 | 12,234,000 |
Land [Member] | ||
Premises and equipment | 2,863,000 | 2,863,000 |
Building [Member] | ||
Premises and equipment | 16,028,000 | 15,833,000 |
Furniture Equipment And Leasehold Improvements [Member] | ||
Premises and equipment | $ 7,505,000 | $ 7,491,000 |
Note 7 - Deposits (Details Text
Note 7 - Deposits (Details Textual) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deposit Liabilities Reclassified as Loans Receivable | $ 252,000 | $ 364,000 |
Note 7 - Deposits - Interest-be
Note 7 - Deposits - Interest-bearing Deposits (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Interest-bearing demand deposits | $ 91,289,000 | $ 91,225,000 |
Money market | 57,208,000 | 48,848,000 |
Savings | 147,474,000 | 125,896,000 |
Time, $250,000 or more | 4,055,000 | 3,079,000 |
Other time | 45,548,000 | 49,184,000 |
Interest-bearing deposits | $ 345,574,000 | $ 318,232,000 |
Note 7 - Deposits - Maturities
Note 7 - Deposits - Maturities of Time Deposits (Details) | Dec. 31, 2016USD ($) |
2,017 | $ 38,579,000 |
2,018 | 6,788,000 |
2,019 | 2,422,000 |
2,020 | 1,476,000 |
2,021 | 338,000 |
thereafter | |
$ 49,603,000 |
Note 8 - Securities Sold Unde65
Note 8 - Securities Sold Under Agreements to Repurchase (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Securities Sold under Agreements to Repurchase | $ 7,547,000 | $ 7,671,000 |
Securities Sold Under Agreements to Repurchase, Term | 2 years | |
US Government Agencies Debt Securities [Member] | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | $ 15,113,000 | $ 13,171,000 |
Note 8 - Securities Sold Unde66
Note 8 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreements to Repurchase (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Average daily balance during the year | $ 6,411,000 | $ 6,529,000 |
Average interest rate during the year | 0.08% | 0.08% |
Maximum month-end balance during the year | $ 9,069,000 | $ 8,708,000 |
Weighted average interest rate at year-end | 0.08% | 0.08% |
Note 9 - Borrowing Arrangemen67
Note 9 - Borrowing Arrangements (Details Textual) - USD ($) | Apr. 21, 2016 | Oct. 01, 2015 | Oct. 24, 2013 | Apr. 15, 2013 | May 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Oct. 01, 2016 | Jul. 28, 2014 | Dec. 31, 2013 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 172,000,000 | ||||||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 270,000,000 | ||||||||||
Federal Home Loan Bank Stock | 2,438,000 | $ 2,380,000 | |||||||||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 90,281,000 | ||||||||||
Additional Federal Home Loan Bank Stock to Be Purcased | 2,195,000 | ||||||||||
Notes Payable | 2,375,000 | 4,875,000 | |||||||||
Repayments of Notes Payable | $ 2,500,000 | $ 125,000 | $ 2,000,000 | ||||||||
Proceeds from Issuance of Subordinated Long-term Debt | $ 7,500,000 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 300,000 | 150,000 | 300,000 | 300,000 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 5.25 | $ 5.25 | $ 5.25 | $ 5.25 | |||||||
Warrants and Rights Outstanding | $ 318,000 | ||||||||||
Debt Instrument, Discount Amortization Period | 2 years | ||||||||||
Repurchase of Common Stock Warrant Value | $ 862,000 | $ 862,000 | |||||||||
Plumas Bank [Member] | |||||||||||
Proceeds from Dividends Received | 3,000,000 | ||||||||||
Notes Payable to Banks [Member] | |||||||||||
Proceeds from Notes Payable | $ 3,000,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | |||||||||
Debt Instrument, Term | 1 year 180 days | ||||||||||
Debt Instrument, Collateral Shares | 100 | ||||||||||
Debt Instrument, Face Amount | $ 2,500,000 | $ 7,500,000 | |||||||||
Debt Instrument, Covenant, Maximum Debt Outstanding | $ 5,000,000 | ||||||||||
Notes Payable | 0 | $ 0 | $ 1,000,000 | ||||||||
Notes Payable to Banks [Member] | Prime Rate [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||
Loans Payable [Member] | |||||||||||
Debt Instrument, Face Amount | $ 5,000,000 | ||||||||||
Debt Instrument, Periodic Payment, Principal | $ 125,000 | ||||||||||
Debt Instrument, Secured by Stock, Number of Shares | 100 | ||||||||||
Notes Payable | 2,375,000 | 4,875,000 | |||||||||
Repayments of Notes Payable | $ 2,000,000 | ||||||||||
Loans Payable [Member] | Prime Rate [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||
Note and Term Loan [Member] | |||||||||||
Interest Expense, Debt | 133,000 | 155,000 | 111,000 | ||||||||
Subordinated Debt [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | ||||||||||
Debt Instrument, Term | 8 years | ||||||||||
Interest Expense, Debt | $ 219,000 | $ 756,000 | |||||||||
Debt Instrument, Disallowed Prepayment Period | 2 years | ||||||||||
Lender Bank One [Member] | |||||||||||
Unsecured Short-term Borrowing Agreement, Amount Available for Borrowing | 20,000,000 | ||||||||||
Lender Bank Two [Member] | |||||||||||
Unsecured Short-term Borrowing Agreement, Amount Available for Borrowing | 11,000,000 | ||||||||||
Lender Bank Three [Member] | |||||||||||
Unsecured Short-term Borrowing Agreement, Amount Available for Borrowing | $ 10,000,000 |
Note 10 - Junior Subordinated68
Note 10 - Junior Subordinated Deferrable Interest Debentures (Details Textual) - USD ($) | Dec. 31, 2002 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2005 | Dec. 31, 2002 |
Capital | $ 66,804 | $ 61,839 | ||||
Interest Expense, Junior Subordinated Debentures | 348,000 | $ 306,000 | $ 303,000 | |||
Plumas Statutory Trust I [Member] | ||||||
Capital | $ 319,000 | |||||
Trust Preferred Securities Issued, Number | 6,000 | |||||
Trust Preferred Securities, Liquidation Amount per Preferred Security | $ 1,000 | $ 1,000 | ||||
Proceeds from Issuance of Trust Preferred Securities | $ 6,000,000 | |||||
Amount Invested in Subordinated Debentures by Trust | $ 6,186,000 | $ 6,186,000 | ||||
Debt Instrument, Period for Deferral of Distribution Payment | 5 years | |||||
Plumas Statutory Trust I [Member] | Subordinated Debt [Member] | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.40% | |||||
Debt Instrument, Period after Issuance for Start of Redemption | 5 years | |||||
Debt Instrument, Maturity Date | Sep. 26, 2032 | |||||
Plumas Statutory Trust I [Member] | Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 3.40% | |||||
Plumas Statutory Trust II [Member] | ||||||
Capital | $ 166,000 | |||||
Trust Preferred Securities Issued, Number | 4,000 | |||||
Trust Preferred Securities, Liquidation Amount per Preferred Security | $ 1,000 | |||||
Proceeds from Issuance of Trust Preferred Securities | $ 4,000,000 | |||||
Amount Invested in Subordinated Debentures by Trust | $ 4,124,000 | |||||
Debt Instrument, Period for Deferral of Distribution Payment | 5 years | |||||
Plumas Statutory Trust II [Member] | Subordinated Debt [Member] | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.44% | |||||
Debt Instrument, Period after Issuance for Start of Redemption | 5 years | |||||
Debt Instrument, Maturity Date | Sep. 28, 2035 | |||||
Plumas Statutory Trust II [Member] | Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.48% |
Note 11 - Commitments and Con69
Note 11 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases, Rent Expense | $ 276,000 | $ 233,000 | $ 192,000 |
Consumer Loan Commitments as Percentage of Aggregate Commitments | 11.00% | ||
Commercial and Agricultura lLoan Commitments as Percentage of Aggregate Commitments | 37.00% | ||
Real Estate Loan Commitments as Percentage of Aggregate Commitments | 52.00% | ||
Maximum Loan to Value Ratio | 80.00% |
Note 11 - Commitments and Con70
Note 11 - Commitments and Contingencies - Future Minimum Lease Payments (Details) | Dec. 31, 2016USD ($) |
2,017 | $ 275,000 |
2,018 | 219,000 |
2,019 | 206,000 |
2,020 | 209,000 |
2,021 | 187,000 |
$ 1,096,000 |
Note 11 - Commitments and Con71
Note 11 - Commitments and Contingencies - Financial Instruments Representing Off-balance-sheet Credit Risk (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Commitments to extend credit | $ 93,699,000 | $ 82,995,000 |
Letters of credit | $ 625,000 | $ 265,000 |
Note 12 - Shareholders' Equit72
Note 12 - Shareholders' Equity (Details Textual) - USD ($) | Nov. 21, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jan. 01, 2019 | Jan. 01, 2016 | May 31, 2013 | Apr. 15, 2013 |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 9,900,000 | |||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.10 | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 63,000 | 53,000 | 238,000 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 150,000 | 300,000 | 300,000 | 300,000 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 5.25 | $ 5.25 | $ 5.25 | $ 5.25 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 0 | $ 49,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 427,000 | 240,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 108,000 | 110,400 | ||||||
Allocated Share-based Compensation Expense | $ 116,000 | 70,000 | $ 81,000 | |||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 13,000 | 7,000 | 6,000 | |||||
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | 200,000 | 88,000 | 34,000 | |||||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | $ 12,000 | $ 13,000 | $ 13,000 | |||||
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | 4.50% | ||||||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% | 4.00% | |||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | ||||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% | ||||||
Capital Conservation Buffer | 2.50% | |||||||
Capital Conservation Buffer, Phase In Period | 3 years | |||||||
Capital Conservation Buffer Phase In Amount | 0.625% | |||||||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% | ||||||
Common Equity Tier One Risk Based Capital Required to Be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% | ||||||
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% | ||||||
Asset Threshold Before Adopted Final Amendments to the Small Bank Holding Company Policy Statement | $ 500,000,000 | |||||||
Asset Threshold to Qualify for the Policy Statement after Adopted Final Amendments to the Samll Bank Holding Company Policy Statment | $ 1,000,000,000 | |||||||
Scenario, Forecast [Member] | ||||||||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.50% | |||||||
Common Equity Tier One Risk Based Capital Required to Be Well Capitalized to Risk Weighted Assets | 7.00% | |||||||
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.50% | |||||||
Stock Option Plan 2001 [Member] | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 81,893 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 0 | |||||||
Stock Option Plan 2013 [Member] | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 489,443 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 282,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 298,400 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 108,000 | 0 | 110,400 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 182 days | |||||||
Stock Option Plan 2013 [Member] | Employee Stock Option [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Note 12 - Shareholders' Equit73
Note 12 - Shareholders' Equity - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net Income: | |||
Net income | $ 7,474,000 | $ 5,818,000 | $ 4,738,000 |
Earnings Per Share: | |||
Basic earnings per common share (in dollars per share) | $ 1.54 | $ 1.21 | $ 0.99 |
Diluted earnings per common share (in dollars per share) | $ 1.47 | $ 1.15 | $ 0.95 |
Weighted Average Number of Shares Outstanding: | |||
Basic shares (in shares) | 4,864 | 4,817 | 4,793 |
Diluted shares (in shares) | 5,098 | 5,058 | 4,977 |
Note 12 - Shareholders' Equit74
Note 12 - Shareholders' Equity - Stock Option Activity (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | |
Options granted, Shares (in shares) | 108,000 | 110,400 | ||
Stock Option Plan 2001 [Member] | ||||
Options outstanding, Shares (in shares) | 192,893 | 306,393 | 365,059 | |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 5.75 | $ 7.95 | $ 8.53 | |
Options cancelled, Shares (in shares) | (55,800) | (74,600) | (47,266) | |
Options cancelled, Weighted average exercise price (in dollars per share) | $ 12.61 | $ 16.26 | $ 13.64 | |
Options exercised, Shares (in shares) | (55,200) | (38,900) | (11,400) | |
Options exercised, Weighted average exercise price (in dollars per share) | $ 2.95 | $ 2.95 | $ 2.95 | |
Options outstanding, Shares (in shares) | 81,893 | 192,893 | 306,393 | |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 2.95 | $ 5.75 | $ 7.95 | |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 5.75 | $ 7.95 | $ 8.53 | $ 2.95 |
Options outstanding, Weighted average remaining contractual term in years (Year) | 2 years 73 days | |||
Options outstanding, Intrinsic value | $ 1,314,000 | |||
Options exercisable, Shares (in shares) | 81,893 | |||
Options exercisable, Weighted average exercise price (in dollars per share) | $ 2.95 | |||
Options exercisable, Weighted average remaining contractual term in years (Year) | 2 years 73 days | |||
Options exercisable, Intrinsic value | $ 1,314,000 | |||
Expected to vest after December 31, 2016, Shares (in shares) | ||||
Expected to vest after December 31, 2016, Weighted average exercise price (in dollars per share) | ||||
Options exercisable, Weighted average exercise price (in dollars per share) | $ 2.95 | 2.95 | ||
Stock Option Plan 2013 [Member] | ||||
Options outstanding, Shares (in shares) | 102,400 | 110,400 | ||
Options outstanding, Weighted average exercise price (in dollars per share) | $ 6.32 | |||
Options cancelled, Shares (in shares) | (9,600) | (7,200) | ||
Options cancelled, Weighted average exercise price (in dollars per share) | $ 7.94 | |||
Options exercised, Shares (in shares) | (8,000) | (800) | ||
Options exercised, Weighted average exercise price (in dollars per share) | $ 6.32 | |||
Options outstanding, Shares (in shares) | 192,800 | 102,400 | 110,400 | |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 7.60 | $ 6.32 | ||
Options outstanding, Weighted average exercise price (in dollars per share) | $ 6.32 | $ 7.60 | ||
Options outstanding, Weighted average remaining contractual term in years (Year) | 6 years 109 days | |||
Options outstanding, Intrinsic value | $ 2,198,000 | |||
Options exercisable, Shares (in shares) | 44,000 | |||
Options exercisable, Weighted average exercise price (in dollars per share) | $ 6.32 | |||
Options exercisable, Weighted average remaining contractual term in years (Year) | 5 years 109 days | |||
Options exercisable, Intrinsic value | $ 558,000 | |||
Expected to vest after December 31, 2016, Shares (in shares) | 129,798 | |||
Expected to vest after December 31, 2016, Weighted average exercise price (in dollars per share) | $ 7.98 | |||
Options granted, Shares (in shares) | 108,000 | 0 | 110,400 | |
Options granted, Weighted average exercise price (in dollars per share) | $ 8.75 | $ 6.32 | ||
Options exercisable, Weighted average exercise price (in dollars per share) | $ 6.32 | $ 6.32 | ||
Expected to vest after December 31, 2016, Weighted average remaining contractual term in years (Year) | 6 years 219 days | |||
Expected to vest after December 31, 2016, Intrinsic value | $ 1,430,000 |
Note 12 - Shareholders' Equit75
Note 12 - Shareholders' Equity - Regulatory Capital (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Common Equity Tier 1 Ratio, Actual amount | $ 60,521 | $ 56,300 | |
Common Equity Tier 1 Ratio, Actual ratio | 12.10% | 12.70% | |
Common Equity Tier 1 Ratio, For capital adequacy purposes amount | $ 22,597 | $ 19,908 | |
Common Equity Tier 1 Ratio, For capital adequacy purposes ratio | 4.50% | 4.50% | |
Common Equity Tier 1 Ratio, To be well-capitalized under prompt corrective provisions amount | $ 32,641 | $ 28,756 | |
Common Equity Tier 1 Ratio, To be well-capitalized under prompt corrective provisions ratio | 6.50% | 6.50% | |
Tier 1 Leverage Ratio, Actual amount | $ 60,521 | $ 56,300 | |
Tier 1 Leverage Ratio, Actual ratio | 9.20% | 9.40% | |
Tier 1 Leverage Ratio, For capital adequacy purposes amount | $ 26,353 | $ 23,999 | |
Tier 1 Leverage Ratio, For capital adequacy purposes ratio | 4.00% | 4.00% | |
Tier 1 Leverage Ratio, To be well-capitalized under prompt corrective provisions amount | $ 32,941 | $ 29,999 | |
Tier 1 Leverage Ratio, To be well-capitalized under prompt corrective provisions ratio | 5.00% | 5.00% | |
Tier 1 Risk-Based Capital Ratio, Actual amount | $ 60,521 | $ 56,300 | |
Tier 1 Risk-Based Capital Ratio, Actual ratio | 12.10% | 12.70% | |
Tier 1 Risk-Based Capital Ratio, For capital adequacy purposes amount | $ 30,130 | $ 26,544 | |
Tier 1 Risk-Based Capital Ratio, For capital adequacy purposes ratio | 6.00% | 6.00% | 4.00% |
Tier 1 Risk-Based Capital Ratio, To be well-capitalized under prompt corrective provisions amount | $ 40,173 | $ 35,392 | |
Tier 1 Risk-Based Capital Ratio, To be well-capitalized under prompt corrective provisions ratio | 8.00% | 8.00% | |
Total Risk-Based Capital Ratio, Actual amount | $ 66,804 | $ 61,839 | |
Total Risk-Based Capital Ratio, Actual ratio | 13.30% | 14.00% | |
Total Risk-Based Capital Ratio, For capital adequacy purposes amount | $ 40,173 | $ 35,392 | |
Total Risk-Based Capital Ratio, For capital adequacy purposes ratio | 8.00% | 8.00% | |
Total Risk-Based Capital Ratio, To be well-capitalized under prompt corrective provisions amount | $ 50,217 | $ 44,240 | |
Total Risk-Based Capital Ratio, To be well-capitalized under prompt corrective provisions ratio | 10.00% | 10.00% |
Note 13 - Other Expenses - Othe
Note 13 - Other Expenses - Other Expenses (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Outside service fees | $ 2,105,000 | $ 2,003,000 | $ 2,042,000 |
Professional fees | 608,000 | 707,000 | 583,000 |
Telephone and data communications | 450,000 | 376,000 | 351,000 |
Advertising and promotion | 366,000 | 305,000 | 282,000 |
Director compensation and retirement | 348,000 | 300,000 | 298,000 |
Business development | 344,000 | 332,000 | 279,000 |
Deposit insurance | 285,000 | 362,000 | 387,000 |
Armored car and courier | 248,000 | 234,000 | 224,000 |
Loan collection expenses | 166,000 | 200,000 | 182,000 |
Stationery and supplies | 119,000 | 105,000 | 122,000 |
Insurance | 78,000 | 95,000 | (9,000) |
Postage | 40,000 | 41,000 | 45,000 |
Provision from change in OREO valuation | 37,000 | 79,000 | 240,000 |
OREO expenses | (34,000) | 182,000 | 362,000 |
Net gain on sale of OREO | (60,000) | (198,000) | (101,000) |
Other operating expenses | 309,000 | 309,000 | 182,000 |
Other non-interest expense | $ 5,409,000 | $ 5,432,000 | $ 5,469,000 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Deferred Tax Assets, Gross | $ 6,101,000 | $ 4,603,000 |
Deferred Tax Liabilities, Gross | 1,866,000 | 1,680,000 |
Deferred Tax Assets, Net | 4,235,000 | 2,923,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 | |
Deferred Tax Assets, Valuation Allowance | 0 | 0 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 0 | |
Unrecognized Tax Benefits, Period Increase (Decrease) | $ 0 | $ 0 |
Note 14 - Income Taxes - Provis
Note 14 - Income Taxes - Provision for Income Taxes (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current, federal | $ 4,156,000 | $ 3,625,000 | $ 1,863,000 |
Current, State | 1,263,000 | 631,000 | 58,000 |
Current, Total | 5,419,000 | 4,256,000 | 1,921,000 |
Deferred, federal | (575,000) | (848,000) | 401,000 |
Deferred, State | (85,000) | 309,000 | 764,000 |
Deferred, Total | (660,000) | (539,000) | 1,165,000 |
Provision for income taxes, federal | 3,581,000 | 2,777,000 | 2,264,000 |
Provision for income taxes, State | 1,178,000 | 940,000 | 822,000 |
Provision for income taxes, Total | $ 4,759,000 | $ 3,717,000 | $ 3,086,000 |
Note 14 - Income Taxes - Deferr
Note 14 - Income Taxes - Deferred Tax Assets & Liabilities (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Allowance for loan losses | $ 1,741,000 | $ 903,000 |
Deferred compensation | 1,574,000 | 1,774,000 |
OREO valuation allowance | 519,000 | 556,000 |
Premises and equipment | 515,000 | 619,000 |
Unrealized loss on available-for-sale investment securities | 682,000 | 30,000 |
Other | 1,070,000 | 721,000 |
Total deferred tax assets | 6,101,000 | 4,603,000 |
Deferred tax liabilities: | ||
Deferred loan costs | (1,628,000) | (1,436,000) |
Other | (238,000) | (244,000) |
Total deferred tax liabilities | (1,866,000) | (1,680,000) |
Net deferred tax assets | $ 4,235,000 | $ 2,923,000 |
Note 14 - Income Taxes - Income
Note 14 - Income Taxes - Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Federal income tax, at statutory rate | 34.00% | 34.00% | 34.00% |
State franchise tax, net of Federal tax effect | 6.90% | 6.90% | 6.90% |
Interest on obligations of states and political subdivisions | (1.50%) | (1.30%) | (0.70%) |
Net increase in cash surrender value of bank owned life insurance | (0.90%) | (1.20%) | (1.50%) |
Other | 0.40% | 0.60% | 0.70% |
Effective tax rate | 38.90% | 39.00% | 39.40% |
Note 15 - Related Party Trans81
Note 15 - Related Party Transactions - Related Party Borrowers (Details) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Balance | $ 3,249,000 |
Disbursements | 2,498,000 |
Amounts repaid | (3,511,000) |
Balance | 2,236,000 |
Undisbursed commitments to related parties, December 31, 2016 | $ 2,442,000 |
Note 16 - Employee Benefit Pl82
Note 16 - Employee Benefit Plans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 25.00% | 25.00% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 2.00% | 2.00% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 114,000 | $ 111,000 | |
Defined Contribution Plan, Cost Recognized | 269,000 | 258,000 | $ 289,000 |
Employee-related Liabilities | 3,889,000 | 3,973,000 | |
Bank Owned Life Insurance | 12,528,000 | 12,187,000 | |
Bank Owned Life Insurance Income | $ 341,000 | $ 342,000 | $ 341,000 |
Minimum [Member] | |||
Defined Contribution Plan, Salary Continuation Period | 10 years | ||
Maximum [Member] | |||
Defined Contribution Plan, Salary Continuation Period | 15 years | ||
Director [Member] | |||
Defined Contribution Plan, Number of Employees Covered | 6 | ||
Former Executives Officer [Member] | |||
Defined Contribution Plan, Number of Employees Covered | 5 | ||
Former Director [Member] | |||
Defined Contribution Plan, Number of Employees Covered | 4 |
Note 17 - Parent Only Condens83
Note 17 - Parent Only Condensed Financial Statements - Condensed Balance Sheets (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
ASSETS | ||||
Cash and cash equivalents | $ 62,646,000 | $ 68,195,000 | $ 45,574,000 | $ 49,917,000 |
Total assets | 657,975,000 | 599,286,000 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Accrued interest payable and other liabilities | 7,396,000 | 6,658,000 | ||
Note payable | 2,375,000 | 4,875,000 | ||
Junior subordinated deferrable interest debentures | 10,310,000 | 10,310,000 | ||
Total liabilities | 609,981,000 | 556,790,000 | ||
Shareholders' equity: | ||||
Common stock - no par value; 22,500,000 shares authorized; issued and outstanding – 4,896,875 at December 31, 2016 and 4,835,432 at December 31, 2015 | 5,918,000 | 6,475,000 | ||
Retained earnings | 43,048,000 | 36,063,000 | ||
Accumulated other comprehensive loss, net of taxes | (972,000) | (42,000) | ||
Total shareholders' equity | 47,994,000 | 42,496,000 | 36,497,000 | 30,593,000 |
Total liabilities and shareholders' equity | 657,975,000 | 599,286,000 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 281,000 | 849,000 | $ 628,000 | $ 598,000 |
Investment in bank subsidiary | 59,840,000 | 56,295,000 | ||
Other assets | 571,000 | 552,000 | ||
Total assets | 60,692,000 | 57,696,000 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Accrued interest payable and other liabilities | 13,000 | 15,000 | ||
Note payable | 2,375,000 | 4,875,000 | ||
Junior subordinated deferrable interest debentures | 10,310,000 | 10,310,000 | ||
Total liabilities | 12,698,000 | 15,200,000 | ||
Shareholders' equity: | ||||
Common stock - no par value; 22,500,000 shares authorized; issued and outstanding – 4,896,875 at December 31, 2016 and 4,835,432 at December 31, 2015 | 5,918,000 | 6,475,000 | ||
Retained earnings | 43,048,000 | 36,063,000 | ||
Accumulated other comprehensive loss, net of taxes | (972,000) | (42,000) | ||
Total shareholders' equity | 47,994,000 | 42,496,000 | ||
Total liabilities and shareholders' equity | $ 60,692,000 | $ 57,696,000 |
Note 17 - Parent Only Condens84
Note 17 - Parent Only Condensed Financial Statements - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest on note payable | $ 133,000 | $ 155,000 | $ 111,000 |
Interest on subordinated debenture | 219,000 | 756,000 | |
Interest on junior subordinated deferrable interest debentures | 348,000 | 306,000 | 303,000 |
Other expenses | 5,000 | 6,000 | 7,000 |
Total expenses | 1,023,000 | 1,204,000 | 1,693,000 |
Income before equity in undistributed income of subsidiary | 12,233,000 | 9,535,000 | 7,824,000 |
Provision for income taxes | 4,759,000 | 3,717,000 | 3,086,000 |
Net income | 7,474,000 | 5,818,000 | 4,738,000 |
Total comprehensive income | 6,544,000 | 5,836,000 | 5,841,000 |
Parent Company [Member] | |||
Dividends declared by bank subsidiary | 3,500,000 | 4,000,000 | 2,500,000 |
Statutory Trusts I and II | 10,000 | 9,000 | 9,000 |
Total income | 3,510,000 | 4,009,000 | 2,509,000 |
Interest on note payable | 133,000 | 155,000 | 111,000 |
Interest on subordinated debenture | 219,000 | 756,000 | |
Interest on junior subordinated deferrable interest debentures | 348,000 | 306,000 | 303,000 |
Other expenses | 235,000 | 206,000 | 211,000 |
Total expenses | 716,000 | 886,000 | 1,381,000 |
Income before equity in undistributed income of subsidiary | 2,794,000 | 3,123,000 | 1,128,000 |
Equity in undistributed income of subsidiary | 4,390,000 | 2,353,000 | 3,111,000 |
Income before income taxes | 7,184,000 | 5,476,000 | 4,239,000 |
Provision for income taxes | 290,000 | 342,000 | 499,000 |
Net income | 7,474,000 | 5,818,000 | 4,738,000 |
Total comprehensive income | $ 6,544,000 | $ 5,836,000 | $ 5,841,000 |
Note 17 - Parent Only Condens85
Note 17 - Parent Only Condensed Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | |||
Net income | $ 7,474,000 | $ 5,818,000 | $ 4,738,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Stock-based compensation expense | 116,000 | 70,000 | 81,000 |
(Decrease) increase in other assets | 981,000 | (1,294,000) | (620,000) |
Cash flows from financing activities: | |||
Cash dividends paid on common stock | (489,000) | ||
Redemption of subordinated debt | (7,500,000) | ||
Repurchase of common stock warrant | (862,000) | ||
Increase in note payable | 4,000,000 | ||
Payment on note payable | (2,500,000) | (125,000) | (2,000,000) |
Proceeds from exercise of stock options | 200,000 | 88,000 | 34,000 |
(Decrease) increase in cash and cash equivalents | (5,549,000) | 22,621,000 | (4,343,000) |
Cash and cash equivalents at beginning of year | 68,195,000 | 45,574,000 | 49,917,000 |
Cash and cash equivalents at end of year | 62,646,000 | 68,195,000 | 45,574,000 |
Parent Company [Member] | |||
Cash flows from operating activities: | |||
Net income | 7,474,000 | 5,818,000 | 4,738,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Undistributed income of subsidiary | (4,390,000) | (2,353,000) | (3,111,000) |
Amortization of discount on debentures | 45,000 | 159,000 | |
Stock-based compensation expense | 32,000 | 17,000 | 14,000 |
(Decrease) increase in other assets | (31,000) | 238,000 | 207,000 |
Decrease in other liabilities | (2,000) | (7,000) | (11,000) |
Net cash provided by operating activities | 3,083,000 | 3,758,000 | 1,996,000 |
Cash flows from financing activities: | |||
Cash dividends paid on common stock | (489,000) | ||
Redemption of subordinated debt | (7,500,000) | ||
Repurchase of common stock warrant | (862,000) | ||
Increase in note payable | 4,000,000 | ||
Payment on note payable | (2,500,000) | (125,000) | (2,000,000) |
Proceeds from exercise of stock options | 200,000 | 88,000 | 34,000 |
Net cash used in financing activities | (3,651,000) | (3,537,000) | (1,966,000) |
(Decrease) increase in cash and cash equivalents | (568,000) | 221,000 | 30,000 |
Cash and cash equivalents at beginning of year | 849,000 | 628,000 | 598,000 |
Cash and cash equivalents at end of year | $ 281,000 | $ 849,000 | $ 628,000 |