Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 02, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | Plumas Bancorp | |
Entity Central Index Key | 0001168455 | |
Trading Symbol | plbc | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 5,159,560 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and cash equivalents | $ 33,747 | $ 46,686 |
Investment securities available for sale | 173,692 | 171,507 |
Loans, less allowance for loan losses of $7,058 at June 30, 2019 and $6,958 at December 31, 2018 | 588,600 | 562,498 |
Real estate acquired through foreclosure | 1,094 | 1,170 |
Premises and equipment, net | 14,355 | 14,287 |
Bank owned life insurance | 13,020 | 12,856 |
Accrued interest receivable and other assets | 14,750 | 15,394 |
Total assets | 839,258 | 824,398 |
Deposits: | ||
Non-interest bearing | 318,336 | 304,039 |
Interest bearing | 418,875 | 422,526 |
Total deposits | 737,211 | 726,565 |
Repurchase agreements | 7,944 | 13,058 |
Accrued interest payable and other liabilities | 6,755 | 7,533 |
Junior subordinated deferrable interest debentures | 10,310 | 10,310 |
Total liabilities | 762,220 | 757,466 |
Commitments and contingencies (Note 5) | ||
Shareholders’ equity: | ||
Common stock, no par value; 22,500,000 shares authorized; issued and outstanding – 5,159,560 shares at June 30, 2019 and 5,137,476 at December 31, 2018 | 7,147 | 6,944 |
Retained earnings | 68,447 | 62,005 |
Accumulated other comprehensive income (loss), net | 1,444 | (2,017) |
Total shareholders’ equity | 77,038 | 66,932 |
Total liabilities and shareholders’ equity | $ 839,258 | $ 824,398 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans, allowance for loan losses | $ 7,058 | $ 6,958 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 22,500,000 | 22,500,000 |
Common stock, shares issued (in shares) | 5,159,560 | 5,137,476 |
Common stock, shares outstanding (in shares) | 5,159,560 | 5,137,476 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest Income: | ||||
Interest and fees on loans | $ 8,385 | $ 7,209 | $ 16,894 | $ 13,987 |
Interest on investment securities | 1,140 | 980 | 2,278 | 1,836 |
Other | 95 | 105 | 274 | 289 |
Total interest income | 9,620 | 8,294 | 19,446 | 16,112 |
Interest Expense: | ||||
Interest on deposits | 322 | 153 | 619 | 304 |
Interest on junior subordinated deferrable interest debentures | 136 | 127 | 276 | 239 |
Other | 3 | 1 | 6 | 3 |
Total interest expense | 461 | 281 | 901 | 546 |
Net interest income before provision for loan losses | 9,159 | 8,013 | 18,545 | 15,566 |
Provision for Loan Losses | 200 | 300 | 600 | 500 |
Net interest income after provision for loan losses | 8,959 | 7,713 | 17,945 | 15,066 |
Non-Interest Income: | ||||
Service charges | 670 | 653 | 1,320 | 1,294 |
Interchange revenue | 583 | 553 | 1,097 | 1,044 |
Gain on sale of loans | 231 | 533 | 475 | 1,199 |
Gain on equity securities with no readily determinable fair value | 209 | |||
Gain (loss) on sale of investments | 20 | 20 | (8) | |
Other | 507 | 486 | 1,064 | 1,019 |
Total non-interest income | 2,011 | 2,225 | 3,976 | 4,757 |
Non-Interest Expenses: | ||||
Salaries and employee benefits | 3,104 | 2,923 | 6,304 | 6,036 |
Occupancy and equipment | 825 | 705 | 1,683 | 1,407 |
Other | 1,814 | 1,601 | 3,440 | 3,236 |
Total non-interest expenses | 5,743 | 5,229 | 11,427 | 10,679 |
Income before provision for income taxes | 5,227 | 4,709 | 10,494 | 9,144 |
Provision for Income Taxes | 1,417 | 1,264 | 2,866 | 2,419 |
Net income | $ 3,810 | $ 3,445 | $ 7,628 | $ 6,725 |
Basic earnings per share (in dollars per share) | $ 0.74 | $ 0.67 | $ 1.48 | $ 1.32 |
Diluted earnings per share (in dollars per share) | $ 0.73 | $ 0.66 | $ 1.46 | $ 1.29 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income | $ 3,810 | $ 3,445 | $ 7,628 | $ 6,725 |
Other comprehensive income: | ||||
Change in net unrealized gain/loss | 2,334 | (783) | 4,933 | (3,372) |
Reclassification adjustments for net (gains) losses included in net income | (20) | (20) | 8 | |
Net unrealized holding gain (loss) | 2,314 | (783) | 4,913 | (3,364) |
Related tax effect: | ||||
Change in net unrealized gain/loss | (690) | 232 | (1,458) | 997 |
Reclassification of net gains (losses) included in net income | 6 | 6 | (2) | |
Income tax effect | (684) | 232 | (1,452) | 995 |
Other comprehensive income (loss) | 1,630 | (551) | 3,461 | (2,369) |
Total comprehensive income | $ 5,440 | $ 2,894 | $ 11,089 | $ 4,356 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 5,064,972 | |||
Balance at Dec. 31, 2017 | $ 6,415 | $ 49,855 | $ (570) | $ 55,700 |
Net income | 6,725 | 6,725 | ||
Other comprehensive income (loss) | (2,369) | (2,369) | ||
Cash dividends on common stock | (920) | (920) | ||
Exercise of stock options and tax effect (in shares) | 53,704 | |||
Exercise of stock options and tax effect | $ 263 | 263 | ||
Stock-based compensation expense | $ 98 | 98 | ||
Balance (in shares) at Jun. 30, 2018 | 5,118,676 | |||
Balance at Jun. 30, 2018 | $ 6,776 | 55,660 | (2,939) | 59,497 |
Balance (in shares) at Dec. 31, 2018 | 5,137,476 | |||
Balance at Dec. 31, 2018 | $ 6,944 | 62,005 | (2,017) | 66,932 |
Net income | 7,628 | 7,628 | ||
Other comprehensive income (loss) | 3,461 | 3,461 | ||
Cash dividends on common stock | (1,186) | (1,186) | ||
Exercise of stock options and tax effect (in shares) | 22,084 | |||
Exercise of stock options and tax effect | $ 103 | 103 | ||
Stock-based compensation expense | $ 100 | 100 | ||
Balance (in shares) at Jun. 30, 2019 | 5,159,560 | |||
Balance at Jun. 30, 2019 | $ 7,147 | $ 68,447 | $ 1,444 | $ 77,038 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash Flows from Operating Activities: | ||
Net income | $ 7,628,000 | $ 6,725,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for Loan Losses | 600,000 | 500,000 |
Change in deferred loan origination costs/fees, net | (480,000) | (948,000) |
Depreciation and amortization | 722,000 | 489,000 |
Stock-based compensation expense | 100,000 | 98,000 |
(Gain) loss on sale of investments | (20,000) | 8,000 |
Amortization of investment security premiums | 371,000 | 343,000 |
Gain on equity securities with no readily determinable fair value | (209,000) | |
Gain on sale of OREO and other vehicles | (18,000) | (75,000) |
Gain on sale of loans held for sale | (475,000) | (1,199,000) |
Loans originated for sale | (9,854,000) | (22,584,000) |
Proceeds from loan sales | 10,837,000 | 22,202,000 |
Provision from change in OREO valuation | 38,000 | |
Earnings on bank-owned life insurance | (164,000) | (165,000) |
Increase in accrued interest receivable and other assets | (319,000) | (350,000) |
(Decrease) increase in accrued interest payable and other liabilities | (778,000) | 434,000 |
Net cash provided by operating activities | 8,150,000 | 5,307,000 |
Cash Flows from Investing Activities: | ||
Proceeds from principal repayments from available-for-sale government-sponsored mortgage-backed securities | 9,829,000 | 6,970,000 |
Purchases of available-for-sale securities | (19,297,000) | (35,509,000) |
Proceeds from sale of available-for-sale securities | 11,379,000 | 4,157,000 |
Net increase in loans | (27,242,000) | (28,455,000) |
Proceeds from Bank owned life insurance | 338,000 | |
Proceeds from sale of OREO | 85,000 | 550,000 |
Proceeds from sale of other vehicles | 316,000 | 275,000 |
Purchase of premises and equipment | (608,000) | (2,900,000) |
Net cash used in investing activities | (25,538,000) | (54,574,000) |
Cash Flows from Financing Activities: | ||
Net increase in demand, interest bearing and savings deposits | 17,918,000 | 21,287,000 |
Net decrease in time deposits | (7,272,000) | (4,878,000) |
Net decrease in securities sold under agreements to repurchase | (5,114,000) | (1,349,000) |
Cash dividends paid on common stock | (1,186,000) | (920,000) |
Proceeds from exercise of stock options | 103,000 | 263,000 |
Net cash provided by financing activities | 4,449,000 | 14,403,000 |
Decrease in cash and cash equivalents | (12,939,000) | (34,864,000) |
Cash and Cash Equivalents at Beginning of Year | 46,686,000 | 87,537,000 |
Cash and Cash Equivalents at End of Period | 33,747,000 | 52,673,000 |
Supplemental Disclosure of Cash Flow Information: | ||
Interest expense | 895,000 | 549,000 |
Income taxes | 3,376,000 | 2,856,000 |
Non-Cash Investing Activities: | ||
Real estate and vehicles acquired through foreclosure | 330,000 | 375,000 |
Non-Cash Financing Activities: | ||
Common stock retired in connection with the exercise of stock options | $ 42,000 | $ 29,000 |
Note 1 - The Business of Plumas
Note 1 - The Business of Plumas Bancorp | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. THE BUSINESS OF PLUMAS BANCORP During 2002, one September 26, 2002. September 28, 2005. The Bank operates eleven December 2015 first 2018 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2019 | |
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 subsidiary, 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 $344,000 and Trust II of $176,000 are included in accrued interest receivable and other assets on the consolidated balance sheet. The junior subordinated deferrable interest debentures issued and guaranteed by the Company and held by Trust I and Trust II are reflected as debt on the consolidated balance sheet. 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. In the opinion of management, the unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position at June 30, 2019 and the results of its operations and its cash flows for the three-month and six-month periods ended June 30, 2019 and 2018. Our condensed consolidated balance sheet at December 31, 2018 is derived from audited financial statements. The unaudited condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting on Form 10-Q. Accordingly, certain disclosures normally presented in the notes to the annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. The Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's 2018 Annual Report to Shareholders on Form 10-K. The results of operations for the three-month and six-month periods ended June 30, 2019 may not necessarily be indicative of future operating results. In preparing such financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the periods reported. Actual results could differ significantly from those estimates. Reclassifications Certain reclassifications have been made to prior years’ balances to conform to the classifications used in 2019. These reclassifications had no impact on the Company’s consolidated financial position, results of operations or net change in cash and cash equivalents. 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 customer accounts for more than 10 percent of revenues for the Company or the Bank. Revenue from Contracts with Customers The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“Topic 606” ). Under Topic 606, the Company must identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the Company satisfies a performance obligation. Significant revenue has not been recognized in the current reporting period that results from performance obligations satisfied in previous periods. Most of the Company’s revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as the Company’s loans and investment securities. The Company has evaluated the nature of its contracts with customers and determined that further disaggregation of revenue from contracts with customers into more granular categories beyond what is presented in the Condensed Consolidated Statements of Income was not necessary. The Company generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 that significantly affects the determination of the amount and timing of revenue from contracts with customers. Recently Adopted Accounting Pronouncements On February 25, 2016, the FASB issued ASU 2016 - 02, Leases. 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 months. This change results in lessees recognizing right-of-use assets and lease liabilities for most leases currently accounted for as operating leases under prior lease accounting guidance. ASU 2016 - 02 is effective for interim and annual periods beginning after December 15, 2018. The Company has several lease agreements, including two branch locations, which are currently considered operating leases, and therefore, not recognized on the Company’s consolidated statements of condition. The Company adopted ASU No. 2016 - 02 on January 1, 2019 and recorded $565,000 in right-of-use assets and lease liabilities on adoption. In July 2018, the FASB issued ASU No. 2018 - 11, Leases - Targeted Improvements. ASU No. 2018 - 11 provides entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU No. 2016 - 02. Specifically, under the amendments in ASU 2018 - 11: ( 1 ) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and ( 2 ) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016 - 02 ( January 1, 2019 for the Company). The Company adopted ASU No. 2018 - 11 on January 1, 2019. The provisions of ASU 2018 - 11 did not have a material impact on the Company’s Consolidated Financial Statements. On March 30, 2017, the FASB issued ASU 2017 - 08, Receivables – Non-Refundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities. This ASU amends the amortization period for certain purchased callable debt securities held at a premium, shortening such period to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. ASU 2017 - 08 is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company adopted ASU No. 2017 - 08 on January 1, 2019. The provisions of ASU No. 2017 - 08 did not have a material impact on the Company’s Consolidated Financial Statements. Pending Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016 - 13, Measurement of Credit Losses on Financial Instruments. ASU No. 2016 - 13 significantly changes how entities will measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The standard will replace today’s “incurred loss” approach with an “expected loss” model. The new model, referred to as the current expected credit loss (“CECL”) model, will apply to: ( 1 ) financial assets subject to credit losses and measured at amortized cost, and ( 2 ) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held-to-maturity securities, loan commitments, and financial guarantees. The CECL model does not apply to available-for-sale (“AFS”) debt securities. For AFS debt securities with unrealized losses, entities will measure credit losses in a manner similar to what they do today, except that the losses will be recognized as allowances rather than reductions in the amortized cost of the securities. The ASU also simplifies the accounting model for purchased credit-impaired debt securities and loans. ASU No. 2016 - 13 also expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the allowance for loan and lease losses. ASU No. 2016 - 13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company has begun its implementation efforts by establishing an implementation team chaired by the Company’s Chief Lending Officer and composed of members of the Company’s credit administration and accounting departments. We have purchased software to support the CECL calculation of the allowance for loan losses under ASU No 2016 - 13 and have engaged the software vendor to assist in the transition to the CECL model. We expect to produce an initial CECL allowance calculation prior to September 30, 2019. The Company’s preliminary evaluation indicates the provisions of ASU No. 2016 - 13 are expected to impact the Company’s Consolidated Financial Statements, in particular the level of the reserve for credit losses. However, the Company continues to evaluate the extent of the potential impact. In July 2019, the FASB proposed changes to the effective date of ASU No. 2016 - 13 for smaller reporting companies, as defined by the SEC, and other non-SEC reporting entities. The proposal would delay the effective date to fiscal years beginning after December 31, 2022, including interim periods within those fiscal periods. As the Company is a smaller reporting company and has not adopted provisions of the standard early, the proposed delay would be applicable to the Company, if it is approved by the FASB. In August 2018, the FASB issued ASU No. 2018 - 13, Fair Value Measurement, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The update is effective for interim and annual periods in fiscal years beginning after December 15, 2019, with early adoption permitted. Entities are also allowed to elect early adoption of the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. As ASU No. 2018 - 13 only revises disclosure requirements, it will not have a material impact on the Company’s Consolidated Financial Statements. |
Note 3 - Investment Securities
Note 3 - Investment Securities Available for Sale | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 3. The amortized cost and estimated fair value of investment securities at June 30, 2019 December 31, 2018 Available-for-Sale June 30, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations- residential $ 142,298 $ 1,553 $ (444 ) $ 143,407 Obligations of states and political subdivisions 29,345 963 (23 ) 30,285 $ 171,643 $ 2,516 $ (467 ) $ 173,692 Net unrealized gain on available-for-sale investment securities totaling $2,049,000 $605,000 June 30, 2019. three six June 30, 2019 forty $11,379,000 $20,000 twenty-three $59,000 seventeen $39,000. Available-for-Sale December 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations- residential $ 135,059 $ 240 $ (2,621 ) $ 132,678 Obligations of states and political subdivisions 39,311 121 (603 ) 38,829 $ 174,370 $ 361 $ (3,224 ) $ 171,507 Unrealized loss on available-for-sale investment securities totaling $2,863,000 $846,000 December 31, 2018. six June 30, 2018 eighteen $4,157,000 $8,000 eight $4,000 ten $12,000. No three June 30, 2018. There were no six June 30, 2019 twelve December 31, 2018. no June 30, 2019 December 31, 2018. Investment securities with unrealized losses at June 30, 2019 December 31, 2018 June 30, 2019 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations-residential $ 813 $ 1 $ 50,258 $ 443 $ 51,071 $ 444 Obligations of states and political subdivisions - - 992 23 992 23 $ 813 $ 1 $ 51,250 $ 466 $ 52,063 $ 467 December 31, 2018 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations-residential $ 26,478 $ 269 $ 77,476 $ 2,352 $ 103,954 $ 2,621 Obligations of states and political subdivisions 19,270 284 5,672 319 24,942 603 $ 45,748 $ 553 $ 83,148 $ 2,671 $ 128,896 $ 3,224 At June 30, 2019, 186 58 1 twelve 186 104 82 June 30, 2019, not not not June 30, 2019 The amortized cost and estimated fair value of investment securities at June 30, 2019 Amortized Cost Estimated Fair Value Within one year $ - $ - After one year through five years 3,284 3,361 After five years through ten years 6,367 6,545 After ten years 19,694 20,379 Investment securities not due at a single maturity date: Government-sponsored mortgage-backed securities 142,298 143,407 $ 171,643 $ 173,692 Expected maturities will differ from contractual maturities because the issuers of the securities may Investment securities with amortized costs totaling $89,285,000 $92,166,000 $89,587,000 $90,122,000 June 30, 2019 December 31, 2018, |
Note 4 - Loans and the Allowanc
Note 4 - Loans and the Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. Outstanding loans are summarized below, in thousands: June 30, December 31, 2019 2018 Commercial $ 47,782 $ 49,563 Agricultural 76,552 69,160 Real estate – residential 16,328 15,900 Real estate – commercial 285,996 271,710 Real estate – construction and land development 37,523 40,161 Equity lines of credit 38,533 38,490 Auto 85,174 77,135 Other 4,250 4,080 Total loans 592,138 566,199 Deferred loan costs, net 3,520 3,257 Allowance for loan losses (7,058 ) (6,958 ) Total net loans $ 588,600 $ 562,498 Changes in the allowance for loan losses, in thousands, were as follows: June 30, December 31, 2019 2018 Balance, beginning of period $ 6,958 $ 6,669 Provision charged to operations 600 1,000 Losses charged to allowance (657 ) (1,191 ) Recoveries 157 480 Balance, end of period $ 7,058 $ 6,958 The recorded investment in impaired loans totaled $2,419,000 $1,275,000 June 30, 2019 December 31, 2018, $110,000 $772,000 June 30, 2019 $181,000 $424,000 December 31, 2018. no $1,647,000 $851,000 June 30, 2019 December 31, 2018, six June 30, 2019 June 30, 2018 $1,542,000 $1,871,000, $32,000 $36,000 six June 30, 2019 2018, No six June 30, 2019 2018. Included in impaired loans are troubled debt restructurings. A troubled debt restructuring 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 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 value of troubled debt restructurings at June 30, 2019 December 31, 2018 $1,057,000 $1,080,000, $47,000 $53,000 June 30, 2019 December 31, 2018, not June 30, 2019 December 31, 2018. There were no six June 30, 2019 June 30, 2018. There were no twelve six June 30, 2019 2018, At June 30, 2019 December 31, 2018, $2,349,000 $1,117,000, $69,000 $29,000 six June 30, 2019 2018, $43,000 $14,000 three June 30, 2019 2018, no 90 June 30, 2019 December 31, 2018. Salaries and employee benefits totaling $1,205,000 $1,234,000 six June 30, 2019 2018, $607,000 $736,000 three June 30, 2019 2018, The Company assigns a risk rating to all loans and periodically, but not $100,000 The risk ratings can be grouped into three Special Mention may Substandard not not Doubtful Loans not The following table shows the loan portfolio allocated by management's internal risk ratings at the dates indicated, in thousands: June 30, 201 9 Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade Grade: Commercial Agricultural Real Estate-Residential Real Estate-Commercial Real Estate-Construction Equity LOC Total Pass $ 47,255 $ 73,873 $ 16,064 $ 280,025 $ 37,435 $ 37,688 $ 492,340 Special Mention 505 2,679 120 5,109 - - 8,413 Substandard 22 - 144 862 88 845 1,961 Doubtful - - - - - - - Total $ 47,782 $ 76,552 $ 16,328 $ 285,996 $ 37,523 $ 38,533 $ 502,714 December 31, 201 8 Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade Grade: Commercial Agricultural Real Estate-Residential Real Estate-Commercial Real Estate-Construction Equity LOC Total Pass $ 48,905 $ 68,910 $ 15,621 $ 268,159 $ 40,069 $ 38,304 $ 479,968 Special Mention 481 250 124 3,420 - - 4,275 Substandard 177 - 155 131 92 186 741 Doubtful - - - - - - - Total $ 49,563 $ 69,160 $ 15,900 $ 271,710 $ 40,161 $ 38,490 $ 484,984 Consumer Credit Exposure Consumer Credit Exposure Credit Risk Profile Based on Payment Activity Credit Risk Profile Based on Payment Activity June 30, 201 9 December 31, 201 8 Auto Other Total Auto Other Total Grade: Performing $ 84,787 $ 4,227 $ 89,014 $ 76,734 $ 4,071 $ 80,805 Non-performing 387 23 410 401 9 410 Total $ 85,174 $ 4,250 $ 89,424 $ 77,135 $ 4,080 $ 81,215 The following tables show the allocation of the allowance for loan losses at the dates indicated, in thousands: Real Real Real Six months ended June 30 , 201 9 : Commercial Agricultural Estate- Residential Estate- Commercial Estate- Construction Equity LOC Auto Other Total Allowance for Loan Losses Beginning balance $ 914 $ 538 $ 214 $ 2,686 $ 758 $ 464 $ 1,289 $ 95 $ 6,958 Charge-offs (137 ) - - - - (5 ) (484 ) (31 ) (657 ) Recoveries 16 - 2 - - 2 135 2 157 Provision (72 ) 89 (39 ) 311 (161 ) 7 432 33 600 Ending balance $ 721 $ 627 $ 177 $ 2,997 $ 597 $ 468 $ 1,372 $ 99 $ 7,058 Three months ended June 30 , 201 9 : Allowance for Loan Losses Beginning balance $ 796 $ 542 $ 195 $ 2,969 $ 641 $ 450 $ 1,384 $ 90 $ 7,067 Charge-offs (121 ) - - - - (5 ) (172 ) (8 ) (306 ) Recoveries 7 - 1 - - 1 88 - 97 Provision 39 85 (19 ) 28 (44 ) 22 72 17 200 Ending balance $ 721 $ 627 $ 177 $ 2,997 $ 597 $ 468 $ 1,372 $ 99 $ 7,058 Six months ended June 30 , 2018: Allowance for Loan Losses Beginning balance $ 725 $ 623 $ 231 $ 2,729 $ 783 $ 533 $ 946 $ 99 $ 6,669 Charge-offs (266 ) - - - - - (476 ) (21 ) (763 ) Recoveries 15 - 91 18 2 3 155 8 292 Provision 379 (77 ) (127 ) (48 ) (5 ) (55 ) 419 14 500 Ending balance $ 853 $ 546 $ 195 $ 2,699 $ 780 $ 481 $ 1,044 $ 100 $ 6,698 Three months ended June 30 , 2018: Allowance for Loan Losses Beginning balance $ 772 $ 494 $ 212 $ 2,759 $ 791 $ 510 $ 977 $ 107 $ 6,622 Charge-offs (1 ) - - - - - (311 ) (2 ) (314 ) Recoveries 8 - - 1 - 2 73 6 90 Provision 74 52 (17 ) (61 ) (11 ) (31 ) 305 (11 ) 300 Ending balance $ 853 $ 546 $ 195 $ 2,699 $ 780 $ 481 $ 1,044 $ 100 $ 6,698 June 30 , 2019: Allowance for Loan Losses Ending balance: individually evaluated for impairment $ - $ - $ 25 $ 63 $ 22 $ - $ - $ - $ 110 Ending balance: collectively evaluated for impairment 721 627 152 2,934 575 468 1,372 99 6,948 Ending balance $ 721 $ 627 $ 177 $ 2,997 $ 597 $ 468 $ 1,372 $ 99 $ 7,058 Loans Ending balance: individually evaluated for impairment - 250 639 862 114 554 - - 2,419 Ending balance: collectively evaluated for impairment $ 47,782 $ 76,302 $ 15,689 $ 285,134 $ 37,409 $ 37,979 $ 85,174 $ 4,250 $ 589,719 Ending balance $ 47,782 $ 76,552 $ 16,328 $ 285,996 $ 37,523 $ 38,533 $ 85,174 $ 4,250 $ 592,138 Real Real Real December 31, 2018: Commercial Agricultural Estate- Residential Estate- Commercial Estate- Construction Equity LOC Auto Other Total Allowance for Loan Losses Ending balance: individually evaluated for impairment $ 128 $ - 41 $ - $ 12 $ - $ - $ - $ 181 Ending balance: collectively evaluated for impairment $ 786 $ 538 $ 173 $ 2,686 $ 746 $ 464 $ 1,289 $ 95 $ 6,777 Ending Balance $ 914 $ 538 $ 214 $ 2,686 $ 758 $ 464 $ 1,289 $ 95 $ 6,958 Loans Ending balance: individually evaluated for impairment $ 128 $ 250 $ 649 $ 131 $ 117 $ - $ - $ - $ 1,275 Ending balance: collectively evaluated for impairment 49,435 68,910 15,251 271,579 40,044 38,490 77,135 4,080 564,924 Ending balance $ 49,563 $ 69,160 $ 15,900 $ 271,710 $ 40,161 $ 38,490 $ 77,135 $ 4,080 $ 566,199 The following table shows an aging analysis of the loan portfolio by the time past due, in thousands: Total June 30, 201 9 30-89 Days 90 Days and Still Past Due and Past Due Accruing Nonaccrual Nonaccrual Current Total Commercial $ 258 $ - $ - $ 258 $ 47,524 $ 47,782 Agricultural 97 - - 97 76,455 76,552 Real estate – residential 179 - 144 323 16,005 16,328 Real estate – commercial 348 - 862 1,210 284,786 285,996 Real estate - construction & land - - 88 88 37,435 37,523 Equity Lines of Credit 714 - 845 1,559 36,974 38,533 Auto 1,412 - 387 1,799 83,375 85,174 Other 37 - 23 60 4,190 4,250 Total $ 3,045 $ - $ 2,349 $ 5,394 $ 586,744 $ 592,138 Total December 31, 201 8 30-89 Days 90 Days and Still Past Due and Past Due Accruing Nonaccrual Nonaccrual Current Total Commercial $ 11 $ - $ 144 $ 155 $ 49,408 $ 49,563 Agricultural - - - - 69,160 69,160 Real estate – residential 154 - 155 309 15,591 15,900 Real estate - commercial - - 131 131 271,579 271,710 Real estate - construction & land - - 92 92 40,069 40,161 Equity Lines of Credit 596 - 186 782 37,708 38,490 Auto 1,725 - 401 2,126 75,009 77,135 Other 85 - 8 93 3,987 4,080 Total $ 2,571 $ - $ 1,117 $ 3,688 $ 562,511 $ 566,199 The following tables show information related to impaired loans at June 30, 2019, Unpaid Average Interest Recorded Principal Related Recorded Income As of June 30 , 201 9 : Investment Balance Allowance Investment Recognized With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Agricultural 250 250 - 250 8 Real estate – residential 461 461 - 465 17 Real estate – commercial 383 398 - 156 - Real estate – construction & land - - - - - Equity Lines of Credit 554 565 - 93 - Auto - - - - - Other - - - - - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Agricultural - - - - - Real estate – residential 178 178 25 179 4 Real estate – commercial 479 479 63 283 - Real estate – construction & land 114 114 22 116 3 Equity Lines of Credit - - - - - Auto - - - - - Other - - - - - Total: Commercial $ - $ - $ - $ - $ - Agricultural 250 250 - 250 8 Real estate – residential 639 639 25 644 21 Real estate – commercial 862 877 63 439 - Real estate – construction & land 114 114 22 116 3 Equity Lines of Credit 554 565 - 93 - Auto - - - - - Other - - - - - Total $ 2,419 $ 2,445 $ 110 $ 1,542 $ 32 The following tables show information related to impaired loans at December 31, 2018, Unpaid Average Interest Recorded Principal Related Recorded Income As of December 31, 201 8 : Investment Balance Allowance Investment Recognized With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Agricultural 250 250 - 252 19 Real estate – residential 470 481 - 470 38 Real estate – commercial 131 144 - 136 - Real estate – construction & land - - - - - Equity Lines of Credit - - - - - Auto - - - - - Other - - - - - With an allowance recorded: Commercial $ 128 $ 128 $ 128 $ 1 $ - Agricultural - - - - - Real estate – residential 179 179 41 181 7 Real estate – commercial - - - - - Real estate – construction & land 117 117 12 120 7 Equity Lines of Credit - - - - - Auto - - - - - Other - - - - - Total: Commercial $ 128 $ 128 $ 128 $ 1 $ - Agricultural 250 250 - 252 19 Real estate – residential 649 660 41 651 45 Real estate – commercial 131 144 - 136 - Real estate – construction & land 117 117 12 120 7 Equity Lines of Credit - - - - - Auto - - - - - Other - - - - - Total $ 1,275 $ 1,299 $ 181 $ 1,160 $ 71 |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 5. The Company is party to claims and legal proceedings arising in the ordinary course of business. In the opinion of the Company’s management, the amount of ultimate liability with respect to such proceedings will not In the normal course of business, there are various outstanding commitments to extend credit, which are not $110.4 $126.9 $431 $417 June 30, 2019 December 31, 2018, Of the loan commitments outstanding at June 30, 2019, $22.0 twelve not may Stand-by letters of credit are conditional commitments written to guarantee the performance of a customer to a third not June 30, 2019 December 31, 2018. |
Note 6 - Leases
Note 6 - Leases | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. LEASE S The Company leases four three one two not not three two No. 2016 02 January 1, 2019 $565,000 As our leases do not 5%. June 30, 2019 $394,000 $418,000 $24,000. The following table presents a maturity analysis of the operating lease liability at June 30, 2019, Maturities of Lease Liabilities Six months ended December 31, 2019 $ 133 Year ended December 31, 2020 163 Year ended December 31, 2021 63 Year ended December 31, 2022 59 418 Less: Present value discount (24 ) Lease Liability June 30, 2019 $ 394 The weighted-average remaining lease term is 2.3 Total lease costs for the six three June 30, 2019 Six months ended June 30, Three months ended June 30, 2019 2019 Operating leases $ 176 $ 88 Short-term leases 26 16 Variable lease expense 22 11 Total lease expense $ 224 $ 115 Variable lease expense consists primarily of maintenance expense paid to maintain common areas. Rent expense for the six three June 30, 2018, 2016 02, $183,000 $91,000, $18,000 $8,000, Cash paid on operating leases was $176,000 $88,000, six three June 30, 2019. The following table presents future minimum rental payments under leases with terms in excess of one December 31, 2018 840, “Leases” Year Ending December 31, 2019 $ 248,000 2020 163,000 2021 63,000 2022 59,000 2023 - Total minimum rental payments $ 533,000 |
Note 7 - Earnings Per Share
Note 7 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. 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 Three Months For the Six Months Ended June 30, Ended June 30, (In thousands, except per share data) 2019 2018 2019 2018 Net Income: Net income $ 3,810 $ 3,445 $ 7,628 $ 6,725 Earnings Per Share: Basic earnings per share $ 0.74 $ 0.67 $ 1.48 $ 1.32 Diluted earnings per share $ 0.73 $ 0.66 $ 1.46 $ 1.29 Weighted Average Number of Shares Outstanding: Basic shares 5,155 5,107 5,149 5,089 Diluted shares 5,228 5,222 5,227 5,216 Shares of common stock issuable under stock options for which the exercise prices were greater than the average market prices were not not not 71,000 71,000 three June 30, 2019 2018, not not 71,000 71,000 six June 30, 2019 2018, |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 8. In 2001, no no June 30, 2019. As of June 30, 2019, no A summary of the activity within the 2001 Shares Weighted Average Exercise Price Options outstanding at January 1, 2019 6,193 $ 2.95 Options exercised (6,193 ) 2.95 Options outstanding at June 30, 2019 - $ - In May 2013, 2013 415,085 238,500 June 30, 2019. 2013 may not six not ten No six June 30, 2019. six June 30, 2018 76,000 The fair value of each option was estimated on the date of grant using the following assumptions. 2018 Expected life of stock options (in years) 5.1 Risk free interest rate 2.38 % Volatility 30.4 % Dividend yields 1.39 % Weighted-average fair value of options granted during the three months ended March 31, 2018 $ 6.54 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. 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, 2019 196,500 $ 13.84 Options cancelled (2,400 ) $ 8.75 Options exercised (17,515 ) 7.24 Options outstanding at June 30, 2019 176,585 $ 14.57 5.1 $ 1,726,000 Options exercisable at June 30, 2019 102,860 $ 10.62 4.4 $ 1,409,000 Expected to vest after June 30, 2019 65,328 $ 20.07 6.1 $ 317,000 As of June 30, 2019, $354,000 2.2 The total fair value of options vested during the six June 30, 2019 2018 $197,000 $150,000, $311,000 $1,104,000 six June 30, 2019 2018, Compensation cost related to stock options recognized in operating results under the stock option plans was $100,000 $98,000 six June 30, 2019 2018, $7,000 six June 30, 2019 June 30, 2018. $50,000 $51,000 three June 30, 2019 2018, $4,000 three June 30, 2019 $3,000 three June 30, 2018. Cash received from option exercises under the plans for the six June 30, 2019 2018 $103,000 $263,000, $24,000 $99,000 six June 30, 2019 2018, |
Note 9 - Income Taxes
Note 9 - Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9. 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 deferred 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 not 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 not not 50 Interest expense and penalties associated with unrecognized tax benefits, if any, are classified as income tax expense in the consolidated statements of income. There have been no six June 30, 2019. |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurement | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 10. The Company measures fair value under the fair value hierarchy described below. Level 1: Level 2: not Level 3: one not may In certain cases, the inputs used to measure fair value may Management 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 June 30, 2019 Fair Value Measurements at June 30, 2019 Using: Carrying Value Level 1 Level 2 Level 3 Total Fair Value Financial assets: Cash and cash equivalents $ 33,747 $ 33,747 $ - $ - $ 33,747 Investment securities 173,692 - 173,692 - 173,692 Loans, net 588,600 - - 621,764 621,764 FHLB stock 3,517 - - - N/A Accrued interest receivable 3,101 6 614 2,481 3,101 Financial liabilities: Deposits 737,211 687,517 49,722 - 737,239 Repurchase agreements 7,944 - 7,944 - 7,944 Junior subordinated deferrable interest debentures 10,310 - - 7,701 7,701 Accrued interest payable 94 12 60 22 94 The carrying amounts and estimated fair values of financial instruments, at December 31, 2018 Fair Value Measurements at December 31, 2018 Using: Carrying Value Level 1 Level 2 Level 3 Total Fair Value Financial assets: Cash and cash equivalents $ 46,686 $ 46,686 $ - $ - $ 46,686 Investment securities 171,507 - 171,507 - 171,507 Loans, net 562,498 - - 580,396 580,396 FHLB stock 3,027 - - - N/A Accrued interest receivable 3,345 22 685 2,638 3,345 Financial liabilities: Deposits 726,565 669,599 57,050 - 726,649 Repurchase agreements 13,058 - 13,058 - 13,058 Junior subordinated deferrable interest debentures 10,310 - - 8,092 8,092 Accrued interest payable 88 11 52 25 88 Because no 3. These estimates do not one not 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 June 30, 2019 December 31, 2018, Assets and liabilities measured at fair value on a recurring basis at June 30, 2019 Fair Value Measurements at June 30, 2019 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 $ 143,407 $ - $ 143,407 $ - Obligations of states and political subdivisions 30,285 30,285 $ 173,692 $ - $ 173,692 $ - Assets and liabilities measured at fair value on a recurring basis at December 31, 2018 Fair Value Measurements at December 31, 2018 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 $ 132,678 $ - $ 132,678 $ - Obligations of states and political subdivisions 38,829 38,829 $ 171,507 $ - $ 171,507 $ - The fair value of securities available-for-sale equals quoted market price, if available. If quoted market prices are not no 2019 2018. Assets and liabilities measured at fair value on a non-recurring basis at June 30, 2019 Fair Value Measurements at June 30, 2019 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 Losses Six Months Ended June 30, 2019 Assets: Impaired loans: Construction and land $ 416 $ - $ - $ 416 $ (63 ) Other real estate: - - Real estate – residential 292 - - 292 - Real estate – commercial 347 - - 347 - Construction and land 455 - - 455 - Total other real estate 1,094 - - 1,094 - Total $ 1,510 $ - $ - $ 1,510 $ (63 ) Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2018 Fair Value Measurements at December 31, 2018 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) Six Months Ended June 30, 2018 Assets: Impaired loans: Construction and land $ - $ - $ - $ - $ 3 Other real estate: Real estate – residential 368 - - 368 (38 ) Real estate – commercial 347 - - 347 - Construction and land 455 - - 455 - Total other real estate 1,170 - - 1,170 (38 ) Total $ 1,170 $ - $ - $ 1,170 $ (35 ) The Company has no The following methods were used to estimate fair value. Collateral-Dependent Impaired Loans not third 3 $63,000 $3,000 six June 30, 2019 2018, Other Real Estate: 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 June 30, 2019 December 31, 2018 ( Description Fair Value 6/30/2019 Fair Value 12/31/2018 Valuation Technique Significant Unobservable Input Range (Weighted Average) 6/30/2019 Range (Weighted Average) 12/31/2018 Impaired Loans: RE – Commercial $ 416 $ - Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% (10%) N/A Other Real Estate: RE – Residential $ 292 $ 368 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% (10%) 10% - 34% (16%) RE – Commercial $ 347 $ 347 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 16% - 17% (16%) 16% - 17% (16%) Construction and Land $ 455 $ 455 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% - 51% (24%) 10% - 51% (24%) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
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 subsidiary, 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 $344,000 and Trust II of $176,000 are included in accrued interest receivable and other assets on the consolidated balance sheet. The junior subordinated deferrable interest debentures issued and guaranteed by the Company and held by Trust I and Trust II are reflected as debt on the consolidated balance sheet. 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. In the opinion of management, the unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position at June 30, 2019 and the results of its operations and its cash flows for the three-month and six-month periods ended June 30, 2019 and 2018. Our condensed consolidated balance sheet at December 31, 2018 is derived from audited financial statements. The unaudited condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting on Form 10-Q. Accordingly, certain disclosures normally presented in the notes to the annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. The Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's 2018 Annual Report to Shareholders on Form 10-K. The results of operations for the three-month and six-month periods ended June 30, 2019 may not necessarily be indicative of future operating results. In preparing such financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the periods reported. Actual results could differ significantly from those estimates. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications have been made to prior years’ balances to conform to the classifications used in 2019. no |
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 No 10 |
Revenue [Policy Text Block] | Revenue from Contracts with Customers The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, 606” 606, not Most of the Company’s revenue-generating transactions are not 606, not 606 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements On February 25, 2016, 2016 02, not 12 2016 02 December 15, 2018. two not No. 2016 02 January 1, 2019 $565,000 In July 2018, No. 2018 11, No. 2018 11 No. 2016 02. 2018 11: 1 may not 2 may not 2016 02 January 1, 2019 No. 2018 11 January 1, 2019. 2018 11 not On March 30, 2017, 2017 08, not 2017 08 December 15, 2018. first No. 2017 08 January 1, 2019. No. 2017 08 not Pending Accounting Pronouncements In June 2016, No. 2016 13, No. 2016 13 1 2 not not No. 2016 13 No. 2016 13 December 15, 2019; December 15, 2018. first No 2016 13 September 30, 2019. No. 2016 13 July 2019, No. 2016 13 December 31, 2022, not In August 2018, No. 2018 13, December 15, 2019, No. 2018 13 not |
Note 3 - Investment Securitie_2
Note 3 - Investment Securities Available for Sale (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Available-for-Sale June 30, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations- residential $ 142,298 $ 1,553 $ (444 ) $ 143,407 Obligations of states and political subdivisions 29,345 963 (23 ) 30,285 $ 171,643 $ 2,516 $ (467 ) $ 173,692 Available-for-Sale December 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations- residential $ 135,059 $ 240 $ (2,621 ) $ 132,678 Obligations of states and political subdivisions 39,311 121 (603 ) 38,829 $ 174,370 $ 361 $ (3,224 ) $ 171,507 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2019 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations-residential $ 813 $ 1 $ 50,258 $ 443 $ 51,071 $ 444 Obligations of states and political subdivisions - - 992 23 992 23 $ 813 $ 1 $ 51,250 $ 466 $ 52,063 $ 467 December 31, 2018 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Debt securities: U.S. Government-sponsored agencies collateralized by mortgage obligations-residential $ 26,478 $ 269 $ 77,476 $ 2,352 $ 103,954 $ 2,621 Obligations of states and political subdivisions 19,270 284 5,672 319 24,942 603 $ 45,748 $ 553 $ 83,148 $ 2,671 $ 128,896 $ 3,224 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Cost Estimated Fair Value Within one year $ - $ - After one year through five years 3,284 3,361 After five years through ten years 6,367 6,545 After ten years 19,694 20,379 Investment securities not due at a single maturity date: Government-sponsored mortgage-backed securities 142,298 143,407 $ 171,643 $ 173,692 |
Note 4 - Loans and the Allowa_2
Note 4 - Loans and the Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2019 2018 Commercial $ 47,782 $ 49,563 Agricultural 76,552 69,160 Real estate – residential 16,328 15,900 Real estate – commercial 285,996 271,710 Real estate – construction and land development 37,523 40,161 Equity lines of credit 38,533 38,490 Auto 85,174 77,135 Other 4,250 4,080 Total loans 592,138 566,199 Deferred loan costs, net 3,520 3,257 Allowance for loan losses (7,058 ) (6,958 ) Total net loans $ 588,600 $ 562,498 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | June 30, December 31, 2019 2018 Balance, beginning of period $ 6,958 $ 6,669 Provision charged to operations 600 1,000 Losses charged to allowance (657 ) (1,191 ) Recoveries 157 480 Balance, end of period $ 7,058 $ 6,958 Real Real Real December 31, 2018: Commercial Agricultural Estate- Residential Estate- Commercial Estate- Construction Equity LOC Auto Other Total Allowance for Loan Losses Ending balance: individually evaluated for impairment $ 128 $ - 41 $ - $ 12 $ - $ - $ - $ 181 Ending balance: collectively evaluated for impairment $ 786 $ 538 $ 173 $ 2,686 $ 746 $ 464 $ 1,289 $ 95 $ 6,777 Ending Balance $ 914 $ 538 $ 214 $ 2,686 $ 758 $ 464 $ 1,289 $ 95 $ 6,958 Loans Ending balance: individually evaluated for impairment $ 128 $ 250 $ 649 $ 131 $ 117 $ - $ - $ - $ 1,275 Ending balance: collectively evaluated for impairment 49,435 68,910 15,251 271,579 40,044 38,490 77,135 4,080 564,924 Ending balance $ 49,563 $ 69,160 $ 15,900 $ 271,710 $ 40,161 $ 38,490 $ 77,135 $ 4,080 $ 566,199 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 201 9 Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade Grade: Commercial Agricultural Real Estate-Residential Real Estate-Commercial Real Estate-Construction Equity LOC Total Pass $ 47,255 $ 73,873 $ 16,064 $ 280,025 $ 37,435 $ 37,688 $ 492,340 Special Mention 505 2,679 120 5,109 - - 8,413 Substandard 22 - 144 862 88 845 1,961 Doubtful - - - - - - - Total $ 47,782 $ 76,552 $ 16,328 $ 285,996 $ 37,523 $ 38,533 $ 502,714 December 31, 201 8 Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade Grade: Commercial Agricultural Real Estate-Residential Real Estate-Commercial Real Estate-Construction Equity LOC Total Pass $ 48,905 $ 68,910 $ 15,621 $ 268,159 $ 40,069 $ 38,304 $ 479,968 Special Mention 481 250 124 3,420 - - 4,275 Substandard 177 - 155 131 92 186 741 Doubtful - - - - - - - Total $ 49,563 $ 69,160 $ 15,900 $ 271,710 $ 40,161 $ 38,490 $ 484,984 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Real Real Real Six months ended June 30 , 201 9 : Commercial Agricultural Estate- Residential Estate- Commercial Estate- Construction Equity LOC Auto Other Total Allowance for Loan Losses Beginning balance $ 914 $ 538 $ 214 $ 2,686 $ 758 $ 464 $ 1,289 $ 95 $ 6,958 Charge-offs (137 ) - - - - (5 ) (484 ) (31 ) (657 ) Recoveries 16 - 2 - - 2 135 2 157 Provision (72 ) 89 (39 ) 311 (161 ) 7 432 33 600 Ending balance $ 721 $ 627 $ 177 $ 2,997 $ 597 $ 468 $ 1,372 $ 99 $ 7,058 Three months ended June 30 , 201 9 : Allowance for Loan Losses Beginning balance $ 796 $ 542 $ 195 $ 2,969 $ 641 $ 450 $ 1,384 $ 90 $ 7,067 Charge-offs (121 ) - - - - (5 ) (172 ) (8 ) (306 ) Recoveries 7 - 1 - - 1 88 - 97 Provision 39 85 (19 ) 28 (44 ) 22 72 17 200 Ending balance $ 721 $ 627 $ 177 $ 2,997 $ 597 $ 468 $ 1,372 $ 99 $ 7,058 Six months ended June 30 , 2018: Allowance for Loan Losses Beginning balance $ 725 $ 623 $ 231 $ 2,729 $ 783 $ 533 $ 946 $ 99 $ 6,669 Charge-offs (266 ) - - - - - (476 ) (21 ) (763 ) Recoveries 15 - 91 18 2 3 155 8 292 Provision 379 (77 ) (127 ) (48 ) (5 ) (55 ) 419 14 500 Ending balance $ 853 $ 546 $ 195 $ 2,699 $ 780 $ 481 $ 1,044 $ 100 $ 6,698 Three months ended June 30 , 2018: Allowance for Loan Losses Beginning balance $ 772 $ 494 $ 212 $ 2,759 $ 791 $ 510 $ 977 $ 107 $ 6,622 Charge-offs (1 ) - - - - - (311 ) (2 ) (314 ) Recoveries 8 - - 1 - 2 73 6 90 Provision 74 52 (17 ) (61 ) (11 ) (31 ) 305 (11 ) 300 Ending balance $ 853 $ 546 $ 195 $ 2,699 $ 780 $ 481 $ 1,044 $ 100 $ 6,698 June 30 , 2019: Allowance for Loan Losses Ending balance: individually evaluated for impairment $ - $ - $ 25 $ 63 $ 22 $ - $ - $ - $ 110 Ending balance: collectively evaluated for impairment 721 627 152 2,934 575 468 1,372 99 6,948 Ending balance $ 721 $ 627 $ 177 $ 2,997 $ 597 $ 468 $ 1,372 $ 99 $ 7,058 Loans Ending balance: individually evaluated for impairment - 250 639 862 114 554 - - 2,419 Ending balance: collectively evaluated for impairment $ 47,782 $ 76,302 $ 15,689 $ 285,134 $ 37,409 $ 37,979 $ 85,174 $ 4,250 $ 589,719 Ending balance $ 47,782 $ 76,552 $ 16,328 $ 285,996 $ 37,523 $ 38,533 $ 85,174 $ 4,250 $ 592,138 |
Financing Receivable, Past Due [Table Text Block] | Total June 30, 201 9 30-89 Days 90 Days and Still Past Due and Past Due Accruing Nonaccrual Nonaccrual Current Total Commercial $ 258 $ - $ - $ 258 $ 47,524 $ 47,782 Agricultural 97 - - 97 76,455 76,552 Real estate – residential 179 - 144 323 16,005 16,328 Real estate – commercial 348 - 862 1,210 284,786 285,996 Real estate - construction & land - - 88 88 37,435 37,523 Equity Lines of Credit 714 - 845 1,559 36,974 38,533 Auto 1,412 - 387 1,799 83,375 85,174 Other 37 - 23 60 4,190 4,250 Total $ 3,045 $ - $ 2,349 $ 5,394 $ 586,744 $ 592,138 Total December 31, 201 8 30-89 Days 90 Days and Still Past Due and Past Due Accruing Nonaccrual Nonaccrual Current Total Commercial $ 11 $ - $ 144 $ 155 $ 49,408 $ 49,563 Agricultural - - - - 69,160 69,160 Real estate – residential 154 - 155 309 15,591 15,900 Real estate - commercial - - 131 131 271,579 271,710 Real estate - construction & land - - 92 92 40,069 40,161 Equity Lines of Credit 596 - 186 782 37,708 38,490 Auto 1,725 - 401 2,126 75,009 77,135 Other 85 - 8 93 3,987 4,080 Total $ 2,571 $ - $ 1,117 $ 3,688 $ 562,511 $ 566,199 |
Impaired Financing Receivables [Table Text Block] | Unpaid Average Interest Recorded Principal Related Recorded Income As of June 30 , 201 9 : Investment Balance Allowance Investment Recognized With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Agricultural 250 250 - 250 8 Real estate – residential 461 461 - 465 17 Real estate – commercial 383 398 - 156 - Real estate – construction & land - - - - - Equity Lines of Credit 554 565 - 93 - Auto - - - - - Other - - - - - With an allowance recorded: Commercial $ - $ - $ - $ - $ - Agricultural - - - - - Real estate – residential 178 178 25 179 4 Real estate – commercial 479 479 63 283 - Real estate – construction & land 114 114 22 116 3 Equity Lines of Credit - - - - - Auto - - - - - Other - - - - - Total: Commercial $ - $ - $ - $ - $ - Agricultural 250 250 - 250 8 Real estate – residential 639 639 25 644 21 Real estate – commercial 862 877 63 439 - Real estate – construction & land 114 114 22 116 3 Equity Lines of Credit 554 565 - 93 - Auto - - - - - Other - - - - - Total $ 2,419 $ 2,445 $ 110 $ 1,542 $ 32 Unpaid Average Interest Recorded Principal Related Recorded Income As of December 31, 201 8 : Investment Balance Allowance Investment Recognized With no related allowance recorded: Commercial $ - $ - $ - $ - $ - Agricultural 250 250 - 252 19 Real estate – residential 470 481 - 470 38 Real estate – commercial 131 144 - 136 - Real estate – construction & land - - - - - Equity Lines of Credit - - - - - Auto - - - - - Other - - - - - With an allowance recorded: Commercial $ 128 $ 128 $ 128 $ 1 $ - Agricultural - - - - - Real estate – residential 179 179 41 181 7 Real estate – commercial - - - - - Real estate – construction & land 117 117 12 120 7 Equity Lines of Credit - - - - - Auto - - - - - Other - - - - - Total: Commercial $ 128 $ 128 $ 128 $ 1 $ - Agricultural 250 250 - 252 19 Real estate – residential 649 660 41 651 45 Real estate – commercial 131 144 - 136 - Real estate – construction & land 117 117 12 120 7 Equity Lines of Credit - - - - - Auto - - - - - Other - - - - - Total $ 1,275 $ 1,299 $ 181 $ 1,160 $ 71 |
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 June 30, 201 9 December 31, 201 8 Auto Other Total Auto Other Total Grade: Performing $ 84,787 $ 4,227 $ 89,014 $ 76,734 $ 4,071 $ 80,805 Non-performing 387 23 410 401 9 410 Total $ 85,174 $ 4,250 $ 89,424 $ 77,135 $ 4,080 $ 81,215 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities of Lease Liabilities Six months ended December 31, 2019 $ 133 Year ended December 31, 2020 163 Year ended December 31, 2021 63 Year ended December 31, 2022 59 418 Less: Present value discount (24 ) Lease Liability June 30, 2019 $ 394 |
Lease, Cost [Table Text Block] | Six months ended June 30, Three months ended June 30, 2019 2019 Operating leases $ 176 $ 88 Short-term leases 26 16 Variable lease expense 22 11 Total lease expense $ 224 $ 115 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31, 2019 $ 248,000 2020 163,000 2021 63,000 2022 59,000 2023 - Total minimum rental payments $ 533,000 |
Note 7 - Earnings Per Share (Ta
Note 7 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months For the Six Months Ended June 30, Ended June 30, (In thousands, except per share data) 2019 2018 2019 2018 Net Income: Net income $ 3,810 $ 3,445 $ 7,628 $ 6,725 Earnings Per Share: Basic earnings per share $ 0.74 $ 0.67 $ 1.48 $ 1.32 Diluted earnings per share $ 0.73 $ 0.66 $ 1.46 $ 1.29 Weighted Average Number of Shares Outstanding: Basic shares 5,155 5,107 5,149 5,089 Diluted shares 5,228 5,222 5,227 5,216 |
Note 8 - Stock-based Compensa_2
Note 8 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Shares Weighted Average Exercise Price Options outstanding at January 1, 2019 6,193 $ 2.95 Options exercised (6,193 ) 2.95 Options outstanding at June 30, 2019 - $ - Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Intrinsic Value Options outstanding at January 1, 2019 196,500 $ 13.84 Options cancelled (2,400 ) $ 8.75 Options exercised (17,515 ) 7.24 Options outstanding at June 30, 2019 176,585 $ 14.57 5.1 $ 1,726,000 Options exercisable at June 30, 2019 102,860 $ 10.62 4.4 $ 1,409,000 Expected to vest after June 30, 2019 65,328 $ 20.07 6.1 $ 317,000 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2018 Expected life of stock options (in years) 5.1 Risk free interest rate 2.38 % Volatility 30.4 % Dividend yields 1.39 % Weighted-average fair value of options granted during the three months ended March 31, 2018 $ 6.54 |
Note 10 - Fair Value Measurem_2
Note 10 - Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at June 30, 2019 Using: Carrying Value Level 1 Level 2 Level 3 Total Fair Value Financial assets: Cash and cash equivalents $ 33,747 $ 33,747 $ - $ - $ 33,747 Investment securities 173,692 - 173,692 - 173,692 Loans, net 588,600 - - 621,764 621,764 FHLB stock 3,517 - - - N/A Accrued interest receivable 3,101 6 614 2,481 3,101 Financial liabilities: Deposits 737,211 687,517 49,722 - 737,239 Repurchase agreements 7,944 - 7,944 - 7,944 Junior subordinated deferrable interest debentures 10,310 - - 7,701 7,701 Accrued interest payable 94 12 60 22 94 Fair Value Measurements at December 31, 2018 Using: Carrying Value Level 1 Level 2 Level 3 Total Fair Value Financial assets: Cash and cash equivalents $ 46,686 $ 46,686 $ - $ - $ 46,686 Investment securities 171,507 - 171,507 - 171,507 Loans, net 562,498 - - 580,396 580,396 FHLB stock 3,027 - - - N/A Accrued interest receivable 3,345 22 685 2,638 3,345 Financial liabilities: Deposits 726,565 669,599 57,050 - 726,649 Repurchase agreements 13,058 - 13,058 - 13,058 Junior subordinated deferrable interest debentures 10,310 - - 8,092 8,092 Accrued interest payable 88 11 52 25 88 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2019 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 $ 143,407 $ - $ 143,407 $ - Obligations of states and political subdivisions 30,285 30,285 $ 173,692 $ - $ 173,692 $ - Fair Value Measurements at December 31, 2018 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 $ 132,678 $ - $ 132,678 $ - Obligations of states and political subdivisions 38,829 38,829 $ 171,507 $ - $ 171,507 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at June 30, 2019 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 Losses Six Months Ended June 30, 2019 Assets: Impaired loans: Construction and land $ 416 $ - $ - $ 416 $ (63 ) Other real estate: - - Real estate – residential 292 - - 292 - Real estate – commercial 347 - - 347 - Construction and land 455 - - 455 - Total other real estate 1,094 - - 1,094 - Total $ 1,510 $ - $ - $ 1,510 $ (63 ) Fair Value Measurements at December 31, 2018 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) Six Months Ended June 30, 2018 Assets: Impaired loans: Construction and land $ - $ - $ - $ - $ 3 Other real estate: Real estate – residential 368 - - 368 (38 ) Real estate – commercial 347 - - 347 - Construction and land 455 - - 455 - Total other real estate 1,170 - - 1,170 (38 ) Total $ 1,170 $ - $ - $ 1,170 $ (35 ) |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Description Fair Value 6/30/2019 Fair Value 12/31/2018 Valuation Technique Significant Unobservable Input Range (Weighted Average) 6/30/2019 Range (Weighted Average) 12/31/2018 Impaired Loans: RE – Commercial $ 416 $ - Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% (10%) N/A Other Real Estate: RE – Residential $ 292 $ 368 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% (10%) 10% - 34% (16%) RE – Commercial $ 347 $ 347 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 16% - 17% (16%) 16% - 17% (16%) Construction and Land $ 455 $ 455 Third Party appraisals Management Adjustments to Reflect Current Conditions and Selling Costs 10% - 51% (24%) 10% - 51% (24%) |
Note 1 - The Business of Plum_2
Note 1 - The Business of Plumas Bancorp (Details Textual) | Jun. 30, 2019 |
Number of Branches | 11 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) xbrli-pure in Thousands | Jun. 30, 2019USD ($) | Jan. 01, 2019USD ($) |
Number of Major Customers | 0 | |
Operating Lease, Liability, Total | $ 394,000 | |
Plumas Statutory Trust 1 [Member] | Accrued Interest Receivable and Other Assets [Member] | ||
Equity Method Investments | 344,000 | |
Plumas Statutory Trust II [Member] | Accrued Interest Receivable and Other Assets [Member] | ||
Equity Method Investments | $ 176,000 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Right-of-Use Asset | $ 565,000 | |
Operating Lease, Liability, Total | $ 565,000 |
Note 3 - Investment Securitie_3
Note 3 - Investment Securities Available for Sale (Details Textual) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019USD ($) | Jun. 30, 2018 | Mar. 31, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax, Total | $ 2,049,000 | $ 2,049,000 | $ (2,863,000) | |||
Available-for-sale Securities Income Tax Expense (Benefit) on Accumulated Gross Unrealized Gains Losses | $ 605,000 | $ 605,000 | (846,000) | |||
Number of Securities Sold During Period | 40 | 0 | 40 | 18 | ||
Proceeds from Sale of Debt Securities, Available-for-sale | $ 11,379,000 | $ 11,379,000 | $ 4,157,000 | |||
Available-for-sale Securities, Gross Realized Gain (Loss), Total | 20,000 | $ 20,000 | ||||
Number of Securities Sold for Gain | 23 | 8 | ||||
Debt Securities, Available-for-sale, Realized Gain | $ 59,000 | $ 4,000 | ||||
Number of Securities Sold for Loss | 17 | 10 | ||||
Debt Securities, Available-for-sale, Realized Loss | $ 12,000 | $ 39,000 | ||||
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | $ (8,000) | |||||
Debt Securities, Held-to-maturity, Total | $ 0 | $ 0 | 0 | |||
Number of Investment Securities | 186 | 186 | ||||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 58 | 58 | ||||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | 1 | 1 | ||||
Available-for-sale Debt Securities Pledged to Secure Deposits and Repurchase Agreements Amortized Cost Basis | $ 89,285,000 | $ 89,285,000 | 92,166,000 | |||
Collateral Pledged [Member] | ||||||
Debt Securities, Available-for-sale, Restricted | $ 89,587,000 | $ 89,587,000 | $ 90,122,000 | |||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||||
Number of Investment Securities | 104 | 104 | ||||
US States and Political Subdivisions Debt Securities [Member] | ||||||
Number of Investment Securities | 82 | 82 |
Note 3 - Investment Securitie_4
Note 3 - Investment Securities Available for Sale - Amortized Cost and Estimated Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Investment securities available for sale, amortized cost | $ 171,643 | $ 174,370 |
Investment securities available for sale, gross unrealized gains | 2,516 | 361 |
Investment securities available for sale, gross unrealized losses | (467) | (3,224) |
Investment securities available for sale, Estimated fair value | 173,692 | 171,507 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities available for sale, amortized cost | 142,298 | 135,059 |
Investment securities available for sale, gross unrealized gains | 1,553 | 240 |
Investment securities available for sale, gross unrealized losses | (444) | (2,621) |
Investment securities available for sale, Estimated fair value | 143,407 | 132,678 |
US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 29,345 | 39,311 |
Investment securities available for sale, gross unrealized gains | 963 | 121 |
Investment securities available for sale, gross unrealized losses | (23) | (603) |
Investment securities available for sale, Estimated fair value | $ 30,285 | $ 38,829 |
Note 3 - Investment Securitie_5
Note 3 - Investment Securities Available for Sale - Investment Securities With Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Less than 12 months fair value | $ 813 | $ 45,748 |
Less than 12 months unrealized losses | 1 | 553 |
12 months or more fair value | 51,250 | 83,148 |
12 months or more unrealized losses | 466 | 2,671 |
Total fair value | 52,063 | 128,896 |
Total unrealized losses | 467 | 3,224 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than 12 months fair value | 813 | 26,478 |
Less than 12 months unrealized losses | 1 | 269 |
12 months or more fair value | 50,258 | 77,476 |
12 months or more unrealized losses | 443 | 2,352 |
Total fair value | 51,071 | 103,954 |
Total unrealized losses | 444 | 2,621 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months fair value | 19,270 | |
Less than 12 months unrealized losses | 284 | |
12 months or more fair value | 992 | 5,672 |
12 months or more unrealized losses | 23 | 319 |
Total fair value | 992 | 24,942 |
Total unrealized losses | $ 23 | $ 603 |
Note 3 - Investment Securitie_6
Note 3 - Investment Securities Available for Sale - Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Within one year, amortized cost | ||
Within one year, estimated fair value | ||
After one year through five years, amortized cost | 3,284 | |
After one year through five years, estimated fair value | 3,361 | |
After five years through ten years, amortized cost | 6,367 | |
After five years through ten years, estimated fair value | 6,545 | |
After ten years, amortized cost | 19,694 | |
After ten years, estimated fair value | 20,379 | |
Amortized cost | 171,643 | |
Estimated fair value | 173,692 | $ 171,507 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Government-sponsored mortgage-backed securities, amortized cost | 142,298 | |
Government-sponsored mortgage-backed securities, estimated fair value | $ 143,407 |
Note 4 - Loans and the Allowa_3
Note 4 - Loans and the Allowance for Loan Losses (Details Textual) xbrli-pure in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018 | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Impaired Financing Receivable, Recorded Investment, Total | $ 2,419,000 | $ 2,419,000 | $ 1,275,000 | ||||
Impaired Financing Receivable, Related Allowance | 110,000 | 110,000 | 181,000 | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 772,000 | 772,000 | 424,000 | ||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,647,000 | 1,647,000 | 851,000 | ||||
Impaired Financing Receivable, Average Recorded Investment, Total | 1,542,000 | $ 1,871,000 | 1,160,000 | ||||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 32,000 | 36,000 | 71,000 | ||||
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | $ 0 | $ 0 | |||||
Financing Receivable, Troubled Debt Restructuring | 1,057,000 | 1,057,000 | 1,080,000 | ||||
Financing Receivable Modifications Related Allowances | 47,000 | $ 47,000 | 53,000 | ||||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | 0 | |||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |||||
Financing Receivable, Nonaccrual | 2,349,000 | $ 2,349,000 | $ 1,117,000 | ||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 43,000 | $ 14,000 | $ 69,000 | $ 29,000 | |||
Number of Loans, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | ||||
Deferred Loan Origination Costs | $ 607,000 | $ 736,000 | $ 1,205,000 | $ 1,234,000 | |||
Loan to Identify Credit Risks Threshold | $ 100,000 |
Note 4 - Loans and the Allowa_4
Note 4 - Loans and the Allowance for Loan Losses - Outstanding Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Loans | $ 592,138 | $ 566,199 | ||||
Deferred loan costs, net | 3,520 | 3,257 | ||||
Allowance for loan losses | (7,058) | $ (7,067) | (6,958) | $ (6,698) | $ (6,622) | $ (6,669) |
Total net loans | 588,600 | 562,498 | ||||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||||||
Loans | 47,782 | 49,563 | ||||
Allowance for loan losses | (721) | (796) | (914) | (853) | (772) | (725) |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||||||
Loans | 76,552 | 69,160 | ||||
Allowance for loan losses | (627) | (542) | (538) | (546) | (494) | (623) |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Loans | 285,996 | 271,710 | ||||
Allowance for loan losses | (2,997) | (2,969) | (2,686) | (2,699) | (2,759) | (2,729) |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||||
Loans | 37,523 | 40,161 | ||||
Allowance for loan losses | (597) | (641) | (758) | (780) | (791) | (783) |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Loans | 16,328 | 15,900 | ||||
Allowance for loan losses | (177) | (195) | (214) | (195) | (212) | (231) |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||||||
Loans | 38,533 | 38,490 | ||||
Allowance for loan losses | (468) | (450) | (464) | (481) | (510) | (533) |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||||||
Loans | 85,174 | 77,135 | ||||
Allowance for loan losses | (1,372) | (1,384) | (1,289) | (1,044) | (977) | (946) |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
Loans | 4,250 | 4,080 | ||||
Allowance for loan losses | $ (99) | $ (90) | $ (95) | $ (100) | $ (107) | $ (99) |
Note 4 - Loans and the Allowa_5
Note 4 - Loans and the Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Balance, beginning of period | $ 7,067 | $ 6,622 | $ 6,958 | $ 6,669 | $ 6,669 |
Provision charged to operations | 200 | 300 | 600 | 500 | 1,000 |
Losses charged to allowance | (306) | (314) | (657) | (763) | (1,191) |
Recoveries | 97 | 90 | 157 | 292 | 480 |
Balance, end of period | 7,058 | 6,698 | 7,058 | 6,698 | 6,958 |
Allowance for loan losses, individually evaluated for impairment | 110 | 110 | 181 | ||
Allowance for loan losses, collectively evaluated for impairment | 6,948 | 6,948 | 6,777 | ||
Loans, individually evaluated for impairment | 2,419 | 2,419 | 1,275 | ||
Loans, collectively evaluated for impairment | 589,719 | 589,719 | 564,924 | ||
Ending balance | 592,138 | 592,138 | 566,199 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Balance, beginning of period | 796 | 772 | 914 | 725 | 725 |
Provision charged to operations | 39 | 74 | (72) | 379 | |
Losses charged to allowance | (121) | (1) | (137) | (266) | |
Recoveries | 7 | 8 | 16 | 15 | |
Balance, end of period | 721 | 853 | 721 | 853 | 914 |
Allowance for loan losses, individually evaluated for impairment | 128 | ||||
Allowance for loan losses, collectively evaluated for impairment | 721 | 721 | 786 | ||
Loans, individually evaluated for impairment | 128 | ||||
Loans, collectively evaluated for impairment | 47,782 | 47,782 | 49,435 | ||
Ending balance | 47,782 | 47,782 | 49,563 | ||
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||||
Balance, beginning of period | 542 | 494 | 538 | 623 | 623 |
Provision charged to operations | 85 | 52 | 89 | (77) | |
Losses charged to allowance | |||||
Recoveries | |||||
Balance, end of period | 627 | 546 | 627 | 546 | 538 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 627 | 627 | 538 | ||
Loans, individually evaluated for impairment | 250 | 250 | 250 | ||
Loans, collectively evaluated for impairment | 76,302 | 76,302 | 68,910 | ||
Ending balance | 76,552 | 76,552 | 69,160 | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance, beginning of period | 2,969 | 2,759 | 2,686 | 2,729 | 2,729 |
Provision charged to operations | 28 | (61) | 311 | (48) | |
Losses charged to allowance | |||||
Recoveries | 1 | 18 | |||
Balance, end of period | 2,997 | 2,699 | 2,997 | 2,699 | 2,686 |
Allowance for loan losses, individually evaluated for impairment | 63 | 63 | |||
Allowance for loan losses, collectively evaluated for impairment | 2,934 | 2,934 | 2,686 | ||
Loans, individually evaluated for impairment | 862 | 862 | 131 | ||
Loans, collectively evaluated for impairment | 285,134 | 285,134 | 271,579 | ||
Ending balance | 285,996 | 285,996 | 271,710 | ||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||
Balance, beginning of period | 641 | 791 | 758 | 783 | 783 |
Provision charged to operations | (44) | (11) | (161) | (5) | |
Losses charged to allowance | |||||
Recoveries | 2 | ||||
Balance, end of period | 597 | 780 | 597 | 780 | 758 |
Allowance for loan losses, individually evaluated for impairment | 22 | 22 | 12 | ||
Allowance for loan losses, collectively evaluated for impairment | 575 | 575 | 746 | ||
Loans, individually evaluated for impairment | 114 | 114 | 117 | ||
Loans, collectively evaluated for impairment | 37,409 | 37,409 | 40,044 | ||
Ending balance | 37,523 | 37,523 | 40,161 | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Balance, beginning of period | 195 | 212 | 214 | 231 | 231 |
Provision charged to operations | (19) | (17) | (39) | (127) | |
Losses charged to allowance | |||||
Recoveries | 1 | 2 | 91 | ||
Balance, end of period | 177 | 195 | 177 | 195 | 214 |
Allowance for loan losses, individually evaluated for impairment | 25 | 25 | 41 | ||
Allowance for loan losses, collectively evaluated for impairment | 152 | 152 | 173 | ||
Loans, individually evaluated for impairment | 639 | 639 | 649 | ||
Loans, collectively evaluated for impairment | 15,689 | 15,689 | 15,251 | ||
Ending balance | 16,328 | 16,328 | 15,900 | ||
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | |||||
Balance, beginning of period | 450 | 510 | 464 | 533 | 533 |
Provision charged to operations | 22 | (31) | 7 | (55) | |
Losses charged to allowance | (5) | (5) | |||
Recoveries | 1 | 2 | 2 | 3 | |
Balance, end of period | 468 | 481 | 468 | 481 | 464 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 468 | 468 | 464 | ||
Loans, individually evaluated for impairment | 554 | 554 | |||
Loans, collectively evaluated for impairment | 37,979 | 37,979 | 38,490 | ||
Ending balance | 38,533 | 38,533 | 38,490 | ||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||||
Balance, beginning of period | 1,384 | 977 | 1,289 | 946 | 946 |
Provision charged to operations | 72 | 305 | 432 | 419 | |
Losses charged to allowance | (172) | (311) | (484) | (476) | |
Recoveries | 88 | 73 | 135 | 155 | |
Balance, end of period | 1,372 | 1,044 | 1,372 | 1,044 | 1,289 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 1,372 | 1,372 | 1,289 | ||
Loans, individually evaluated for impairment | |||||
Loans, collectively evaluated for impairment | 85,174 | 85,174 | 77,135 | ||
Ending balance | 85,174 | 85,174 | 77,135 | ||
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
Balance, beginning of period | 90 | 107 | 95 | 99 | 99 |
Provision charged to operations | 17 | (11) | 33 | 14 | |
Losses charged to allowance | (8) | (2) | (31) | (21) | |
Recoveries | 6 | 2 | 8 | ||
Balance, end of period | 99 | $ 100 | 99 | $ 100 | 95 |
Allowance for loan losses, individually evaluated for impairment | |||||
Allowance for loan losses, collectively evaluated for impairment | 99 | 99 | 95 | ||
Loans, individually evaluated for impairment | |||||
Loans, collectively evaluated for impairment | 4,250 | 4,250 | 4,080 | ||
Ending balance | $ 4,250 | $ 4,250 | $ 4,080 |
Note 4 - Loans and the Allowa_6
Note 4 - Loans and the Allowance for Loan Losses - Loan Portfolio Allocated by Internal Risk Ratings (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans | $ 592,138 | $ 566,199 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 47,782 | 49,563 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | 76,552 | 69,160 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 285,996 | 271,710 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 37,523 | 40,161 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 16,328 | 15,900 |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | 38,533 | 38,490 |
Commercial and Residential Portfolio Segments [Member] | ||
Loans | 502,714 | 484,984 |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 47,255 | 48,905 |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | 73,873 | 68,910 |
Pass [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 280,025 | 268,159 |
Pass [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 37,435 | 40,069 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 16,064 | 15,621 |
Pass [Member] | Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | 37,688 | 38,304 |
Pass [Member] | Commercial and Residential Portfolio Segments [Member] | ||
Loans | 492,340 | 479,968 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 505 | 481 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | 2,679 | 250 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 5,109 | 3,420 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 120 | 124 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | ||
Special Mention [Member] | Commercial and Residential Portfolio Segments [Member] | ||
Loans | 8,413 | 4,275 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans | 22 | 177 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans | ||
Substandard [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 862 | 131 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans | 88 | 92 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans | 144 | 155 |
Substandard [Member] | Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans | 845 | 186 |
Substandard [Member] | Commercial and Residential Portfolio Segments [Member] | ||
Loans | 1,961 | 741 |
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 4 - Loans and the Allowa_7
Note 4 - Loans and the Allowance for Loan Losses - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans | $ 592,138 | $ 566,199 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Loans | 89,014 | 80,805 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 410 | 410 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans | 85,174 | 77,135 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Performing Financial Instruments [Member] | ||
Loans | 84,787 | 76,734 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 387 | 401 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans | 4,250 | 4,080 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Performing Financial Instruments [Member] | ||
Loans | 4,227 | 4,071 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 23 | 9 |
Consumer Portfolio Segment [Member] | Residential Portfolio Segment [Member] | ||
Loans | $ 89,424 | |
Consumer Portfolio Segment [Member] | Commercial Portfolio Segment [Member] | ||
Loans | $ 81,215 |
Note 4 - Loans and the Allowa_8
Note 4 - Loans and the Allowance for Loan Losses - Allocation of the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | |
Balance, beginning of period | $ 7,067 | $ 6,622 | $ 6,958 | $ 6,669 | $ 6,669 | ||
Charge-offs | (306) | (314) | (657) | (763) | (1,191) | ||
Recoveries | 97 | 90 | 157 | 292 | 480 | ||
Provision | 200 | 300 | 600 | 500 | 1,000 | ||
Balance, end of period | 7,058 | 6,698 | 7,058 | 6,698 | 6,958 | ||
Losses charged to allowance | (306) | (314) | (657) | (763) | (1,191) | ||
Allowance for loan losses, individually evaluated for impairment | $ 110 | $ 181 | |||||
Allowance for loan losses, collectively evaluated for impairment | 6,948 | 6,777 | |||||
Loans | 7,058 | 6,698 | 7,058 | 6,669 | 6,958 | 7,058 | 6,958 |
Loans, individually evaluated for impairment | 2,419 | 1,275 | |||||
Loans, collectively evaluated for impairment | 589,719 | 564,924 | |||||
Loans | 592,138 | 566,199 | |||||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||||
Balance, beginning of period | 796 | 772 | 914 | 725 | 725 | ||
Charge-offs | (121) | (1) | (137) | (266) | |||
Recoveries | 7 | 8 | 16 | 15 | |||
Provision | 39 | 74 | (72) | 379 | |||
Balance, end of period | 721 | 853 | 721 | 853 | 914 | ||
Losses charged to allowance | (121) | (1) | (137) | (266) | |||
Allowance for loan losses, individually evaluated for impairment | 128 | ||||||
Allowance for loan losses, collectively evaluated for impairment | 721 | 786 | |||||
Loans | 721 | 853 | 914 | 725 | 914 | 721 | 914 |
Loans, individually evaluated for impairment | 128 | ||||||
Loans, collectively evaluated for impairment | 47,782 | 49,435 | |||||
Loans | 47,782 | 49,563 | |||||
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||||||
Balance, beginning of period | 542 | 494 | 538 | 623 | 623 | ||
Charge-offs | |||||||
Recoveries | |||||||
Provision | 85 | 52 | 89 | (77) | |||
Balance, end of period | 627 | 546 | 627 | 546 | 538 | ||
Losses charged to allowance | |||||||
Allowance for loan losses, individually evaluated for impairment | |||||||
Allowance for loan losses, collectively evaluated for impairment | 627 | 538 | |||||
Loans | 627 | 546 | 538 | 623 | 538 | 627 | 538 |
Loans, individually evaluated for impairment | 250 | 250 | |||||
Loans, collectively evaluated for impairment | 76,302 | 68,910 | |||||
Loans | 76,552 | 69,160 | |||||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||
Balance, beginning of period | 2,969 | 2,759 | 2,686 | 2,729 | 2,729 | ||
Charge-offs | |||||||
Recoveries | 1 | 18 | |||||
Provision | 28 | (61) | 311 | (48) | |||
Balance, end of period | 2,997 | 2,699 | 2,997 | 2,699 | 2,686 | ||
Losses charged to allowance | |||||||
Allowance for loan losses, individually evaluated for impairment | 63 | ||||||
Allowance for loan losses, collectively evaluated for impairment | 2,934 | 2,686 | |||||
Loans | 2,997 | 2,699 | 2,686 | 2,729 | 2,686 | 2,997 | 2,686 |
Loans, individually evaluated for impairment | 862 | 131 | |||||
Loans, collectively evaluated for impairment | 285,134 | 271,579 | |||||
Loans | 285,996 | 271,710 | |||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||||
Balance, beginning of period | 641 | 791 | 758 | 783 | 783 | ||
Charge-offs | |||||||
Recoveries | 2 | ||||||
Provision | (44) | (11) | (161) | (5) | |||
Balance, end of period | 597 | 780 | 597 | 780 | 758 | ||
Losses charged to allowance | |||||||
Allowance for loan losses, individually evaluated for impairment | 22 | 12 | |||||
Allowance for loan losses, collectively evaluated for impairment | 575 | 746 | |||||
Loans | 597 | 780 | 758 | 783 | 758 | 597 | 758 |
Loans, individually evaluated for impairment | 114 | 117 | |||||
Loans, collectively evaluated for impairment | 37,409 | 40,044 | |||||
Loans | 37,523 | 40,161 | |||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||
Balance, beginning of period | 195 | 212 | 214 | 231 | 231 | ||
Charge-offs | |||||||
Recoveries | 1 | 2 | 91 | ||||
Provision | (19) | (17) | (39) | (127) | |||
Balance, end of period | 177 | 195 | 177 | 195 | 214 | ||
Losses charged to allowance | |||||||
Allowance for loan losses, individually evaluated for impairment | 25 | 41 | |||||
Allowance for loan losses, collectively evaluated for impairment | 152 | 173 | |||||
Loans | 177 | 195 | 214 | 231 | 214 | 177 | 214 |
Loans, individually evaluated for impairment | 639 | 649 | |||||
Loans, collectively evaluated for impairment | 15,689 | 15,251 | |||||
Loans | 16,328 | 15,900 | |||||
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | |||||||
Balance, beginning of period | 450 | 510 | 464 | 533 | 533 | ||
Charge-offs | (5) | (5) | |||||
Recoveries | 1 | 2 | 2 | 3 | |||
Provision | 22 | (31) | 7 | (55) | |||
Balance, end of period | 468 | 481 | 468 | 481 | 464 | ||
Losses charged to allowance | (5) | (5) | |||||
Allowance for loan losses, individually evaluated for impairment | |||||||
Allowance for loan losses, collectively evaluated for impairment | 468 | 464 | |||||
Loans | 468 | 481 | 464 | 533 | 464 | 468 | 464 |
Loans, individually evaluated for impairment | 554 | ||||||
Loans, collectively evaluated for impairment | 37,979 | 38,490 | |||||
Loans | 38,533 | 38,490 | |||||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||||||
Balance, beginning of period | 1,384 | 977 | 1,289 | 946 | 946 | ||
Charge-offs | (172) | (311) | (484) | (476) | |||
Recoveries | 88 | 73 | 135 | 155 | |||
Provision | 72 | 305 | 432 | 419 | |||
Balance, end of period | 1,372 | 1,044 | 1,372 | 1,044 | 1,289 | ||
Losses charged to allowance | (172) | (311) | (484) | (476) | |||
Allowance for loan losses, individually evaluated for impairment | |||||||
Allowance for loan losses, collectively evaluated for impairment | 1,372 | 1,289 | |||||
Loans | 1,372 | 1,044 | 1,289 | 946 | 1,289 | 1,372 | 1,289 |
Loans, individually evaluated for impairment | |||||||
Loans, collectively evaluated for impairment | 85,174 | 77,135 | |||||
Loans | 85,174 | 77,135 | |||||
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||||
Balance, beginning of period | 90 | 107 | 95 | 99 | 99 | ||
Charge-offs | (8) | (2) | (31) | (21) | |||
Recoveries | 6 | 2 | 8 | ||||
Provision | 17 | (11) | 33 | 14 | |||
Balance, end of period | 99 | 100 | 99 | 100 | 95 | ||
Losses charged to allowance | (8) | (2) | (31) | (21) | |||
Allowance for loan losses, individually evaluated for impairment | |||||||
Allowance for loan losses, collectively evaluated for impairment | 99 | 95 | |||||
Loans | $ 99 | $ 100 | $ 95 | $ 99 | $ 95 | 99 | 95 |
Loans, individually evaluated for impairment | |||||||
Loans, collectively evaluated for impairment | 4,250 | 4,080 | |||||
Loans | $ 4,250 | $ 4,080 |
Note 4 - Loans and the Allowa_9
Note 4 - Loans and the Allowance for Loan Losses - Aging Analysis of the Loan Portfolio (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Loans, past due | $ 5,394,000 | $ 3,688,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | 2,349,000 | 1,117,000 |
Loans, current | 586,744,000 | 562,511,000 |
Loans | 592,138,000 | 566,199,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 3,045,000 | 2,571,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans, past due | 258,000 | 155,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | 144,000 | |
Loans, current | 47,524,000 | 49,408,000 |
Loans | 47,782,000 | 49,563,000 |
Loans, 90 days past due and still accruing | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 258,000 | 11,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans, past due | 97,000 | |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | ||
Loans, current | 76,455,000 | 69,160,000 |
Loans | 76,552,000 | 69,160,000 |
Loans, 90 days past due and still accruing | ||
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 97,000 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans, past due | 1,210,000 | 131,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | 862,000 | 131,000 |
Loans, current | 284,786,000 | 271,579,000 |
Loans | 285,996,000 | 271,710,000 |
Loans, 90 days past due and still accruing | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 348,000 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans, past due | 88,000 | 92,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | 88,000 | 92,000 |
Loans, current | 37,435,000 | 40,069,000 |
Loans | 37,523,000 | 40,161,000 |
Loans, 90 days past due and still accruing | ||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans, past due | 323,000 | 309,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | 144,000 | 155,000 |
Loans, current | 16,005,000 | 15,591,000 |
Loans | 16,328,000 | 15,900,000 |
Loans, 90 days past due and still accruing | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 179,000 | 154,000 |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | ||
Loans, past due | 1,559,000 | 782,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | 845,000 | 186,000 |
Loans, current | 36,974,000 | 37,708,000 |
Loans | 38,533,000 | 38,490,000 |
Loans, 90 days past due and still accruing | ||
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 714,000 | 596,000 |
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | ||
Loans, past due | 1,799,000 | 2,126,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | 387,000 | 401,000 |
Loans, current | 83,375,000 | 75,009,000 |
Loans | 85,174,000 | 77,135,000 |
Loans, 90 days past due and still accruing | ||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | 1,412,000 | 1,725,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans, past due | 60,000 | 93,000 |
Loans, 90 days past due and still accruing | ||
Financing Receivable, Nonaccrual | 23,000 | 8,000 |
Loans, current | 4,190,000 | 3,987,000 |
Loans | 4,250,000 | 4,080,000 |
Loans, 90 days past due and still accruing | ||
Consumer Portfolio Segment [Member] | Other Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans, past due | $ 37,000 | $ 85,000 |
Note 4 - Loans and the Allow_10
Note 4 - Loans and the Allowance for Loan Losses - Impaired Loans (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Recorded investment with no related allowance recorded | $ 1,647,000 | $ 851,000 | |
Recorded investment with an allowance | 772,000 | 424,000 | |
Impaired Financing Receivable, Related Allowance | 110,000 | 181,000 | |
Recorded investment | 2,419,000 | 1,275,000 | |
Unpaid principal balance | 2,445,000 | 1,299,000 | |
Average recorded investment | 1,542,000 | $ 1,871,000 | 1,160,000 |
Interest income recognized | 32,000 | $ 36,000 | 71,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Recorded investment with no related allowance recorded | |||
Unpaid principal balance with no related allowance recorded | |||
Average recorded investment with no related allowance recorded | |||
Interest income recognized with no related allowance recorded | |||
Recorded investment with an allowance | 128,000 | ||
Unpaid principal balance with allowance | 128,000 | ||
Average recorded investment with an allowance | 1,000 | ||
Interest income recognized with an allowance | |||
Impaired Financing Receivable, Related Allowance | 128,000 | ||
Recorded investment | 128,000 | ||
Unpaid principal balance | 128,000 | ||
Average recorded investment | 1,000 | ||
Interest income recognized | |||
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Recorded investment with no related allowance recorded | 250,000 | 250,000 | |
Unpaid principal balance with no related allowance recorded | 250,000 | 250,000 | |
Average recorded investment with no related allowance recorded | 250,000 | 252,000 | |
Interest income recognized with no related allowance recorded | 8,000 | 19,000 | |
Recorded investment with an allowance | |||
Unpaid principal balance with allowance | |||
Average recorded investment with an allowance | |||
Interest income recognized with an allowance | |||
Impaired Financing Receivable, Related Allowance | |||
Recorded investment | 250,000 | 250,000 | |
Unpaid principal balance | 250,000 | 250,000 | |
Average recorded investment | 250,000 | 252,000 | |
Interest income recognized | 8,000 | 19,000 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Recorded investment with no related allowance recorded | 383,000 | 131,000 | |
Unpaid principal balance with no related allowance recorded | 398,000 | 144,000 | |
Average recorded investment with no related allowance recorded | 156,000 | 136,000 | |
Interest income recognized with no related allowance recorded | |||
Recorded investment with an allowance | 479,000 | ||
Unpaid principal balance with allowance | 479,000 | ||
Average recorded investment with an allowance | 283,000 | ||
Interest income recognized with an allowance | |||
Impaired Financing Receivable, Related Allowance | 63,000 | ||
Recorded investment | 862,000 | 131,000 | |
Unpaid principal balance | 877,000 | 144,000 | |
Average recorded investment | 439,000 | 136,000 | |
Interest income recognized | |||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Recorded investment with no related allowance recorded | |||
Unpaid principal balance with no related allowance recorded | |||
Average recorded investment with no related allowance recorded | |||
Interest income recognized with no related allowance recorded | |||
Recorded investment with an allowance | 114,000 | 117,000 | |
Unpaid principal balance with allowance | 114,000 | 117,000 | |
Average recorded investment with an allowance | 116,000 | 120,000 | |
Interest income recognized with an allowance | 3,000 | 7,000 | |
Impaired Financing Receivable, Related Allowance | 22,000 | 12,000 | |
Recorded investment | 114,000 | 117,000 | |
Unpaid principal balance | 114,000 | 117,000 | |
Average recorded investment | 116,000 | 120,000 | |
Interest income recognized | 3,000 | 7,000 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Recorded investment with no related allowance recorded | 461,000 | 470,000 | |
Unpaid principal balance with no related allowance recorded | 461,000 | 481,000 | |
Average recorded investment with no related allowance recorded | 465,000 | 470,000 | |
Interest income recognized with no related allowance recorded | 17,000 | 38,000 | |
Recorded investment with an allowance | 178,000 | 179,000 | |
Unpaid principal balance with allowance | 178,000 | 179,000 | |
Average recorded investment with an allowance | 179,000 | 181,000 | |
Interest income recognized with an allowance | 4,000 | 7,000 | |
Impaired Financing Receivable, Related Allowance | 25,000 | 41,000 | |
Recorded investment | 639,000 | 649,000 | |
Unpaid principal balance | 639,000 | 660,000 | |
Average recorded investment | 644,000 | 651,000 | |
Interest income recognized | 21,000 | 45,000 | |
Residential Portfolio Segment [Member] | Equity Lines of Credit [Member] | |||
Recorded investment with no related allowance recorded | 554,000 | ||
Unpaid principal balance with no related allowance recorded | 565,000 | ||
Average recorded investment with no related allowance recorded | 93,000 | ||
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 | |||
Impaired Financing Receivable, Related Allowance | |||
Recorded investment | 554,000 | ||
Unpaid principal balance | 565,000 | ||
Average recorded investment | 93,000 | ||
Interest income recognized | |||
Consumer Portfolio Segment [Member] | Automobile Loan [Member] | |||
Recorded investment with no related allowance recorded | |||
Unpaid principal balance with no related allowance recorded | |||
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 | |||
Impaired Financing Receivable, Related Allowance | |||
Recorded investment | |||
Unpaid principal balance | |||
Average recorded investment | |||
Interest income recognized | |||
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Recorded investment with no related allowance recorded | |||
Unpaid principal balance with no related allowance recorded | |||
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 | |||
Impaired Financing Receivable, Related Allowance | |||
Recorded investment | |||
Unpaid principal balance | |||
Average recorded investment | |||
Interest income recognized |
Note 5 - Commitments and Cont_2
Note 5 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Unused Commitments to Extend Credit | $ 110,400 | $ 126,900 |
Construction Loan Payable [Member] | ||
Unused Commitments to Extend Credit | 22,000 | |
Standby Letters of Credit [Member] | ||
Unused Commitments to Extend Credit | $ 431 | $ 417 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jan. 01, 2019 | |
Operating Lease, Weighted Average Discount Rate, Percent | 5.00% | 5.00% | |||
Lessee, Operating Lease, Liability, Payments, Due, Total | $ 418,000 | $ 418,000 | |||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | $ 24,000 | $ 24,000 | |||
Operating Lease, Weighted Average Remaining Lease Term | 2 years 109 days | 2 years 109 days | |||
Operating Leases, Rent Expense, Net, Total | $ 91,000 | $ 183,000 | |||
Variable Lease, Cost | $ 11,000 | $ 8,000 | $ 22,000 | $ 18,000 | |
Operating Lease, Payments | 88,000 | 176,000 | |||
Operating Lease, Liability, Total | 394,000 | 394,000 | |||
Other Assets [Member] | |||||
Operating Lease, Right-of-Use Asset | 394,000 | 394,000 | |||
Other Liabilities [Member] | |||||
Operating Lease, Liability, Total | $ 394,000 | $ 394,000 | |||
Accounting Standards Update 2016-02 [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 565,000 | ||||
Operating Lease, Liability, Total | $ 565,000 |
Note 6 - Leases - Maturity Anal
Note 6 - Leases - Maturity Analysis of Operating Lease Liability (Details) | Jun. 30, 2019USD ($) |
Six months ended December 31, 2019 | $ 133,000 |
Year ended December 31, 2020 | 163,000 |
Year ended December 31, 2021 | 63,000 |
Year ended December 31, 2022 | 59,000 |
418,000 | |
Less: Present value discount | (24,000) |
Lease Liability June 30, 2019 | $ 394,000 |
Note 6 - Leases - Leases Expens
Note 6 - Leases - Leases Expenses (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Operating leases | $ 88,000 | $ 176,000 | ||
Short-term leases | 16,000 | 26,000 | ||
Variable lease expense | 11,000 | $ 8,000 | 22,000 | $ 18,000 |
Total lease expense | $ 115,000 | $ 224,000 |
Note 6 - Leases - Future Minimu
Note 6 - Leases - Future Minimum Lease Payments (Details) | Dec. 31, 2018USD ($) |
2019 | $ 248,000 |
2020 | 163,000 |
2021 | 63,000 |
2022 | 59,000 |
2023 | |
Total minimum rental payments | $ 533,000 |
Note 7 - Earnings Per Share (De
Note 7 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 71,000 | 71,000 | 71,000 | 71,000 |
Note 7 - Earnings Per Share - C
Note 7 - Earnings Per Share - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income | $ 3,810 | $ 3,445 | $ 7,628 | $ 6,725 |
Basic earnings per share (in dollars per share) | $ 0.74 | $ 0.67 | $ 1.48 | $ 1.32 |
Diluted earnings per share (in dollars per share) | $ 0.73 | $ 0.66 | $ 1.46 | $ 1.29 |
Basic shares (in shares) | 5,155 | 5,107 | 5,149 | 5,089 |
Diluted shares (in shares) | 5,228 | 5,222 | 5,227 | 5,216 |
Note 8 - Stock-based Compensa_3
Note 8 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 354,000 | $ 354,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 73 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 311,000 | $ 1,104,000 | ||
Share-based Payment Arrangement, Expense | 50,000 | $ 51,000 | 100,000 | 98,000 |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 4,000 | $ 3,000 | 7,000 | 7,000 |
Proceeds from Stock Options Exercised | 103,000 | 263,000 | ||
Share-based Payment Arrangement, Exercise of Option, Tax Benefit | $ 24,000 | $ 99,000 | ||
Stock Option Plan 2001 [Member] | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | ||
Stock Option Plan 2013 [Member] | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 415,085 | 415,085 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 238,500 | 238,500 | ||
Share-based Compensation Arrangement by Share Based Payment Award, Holding Period of Previously Owned Stock to be Used As Payment to Exercise Stock Options | 180 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 76,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 197,000 | $ 150,000 | ||
Stock Option Plan 2013 [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Note 8 - Stock-based Compensa_4
Note 8 - Stock-based Compensation - Stock Option Activity (Details) | 6 Months Ended |
Jun. 30, 2019USD ($)$ / sharesshares | |
Stock Option Plan 2001 [Member] | |
Options outstanding (in shares) | shares | 6,193 |
Options exercised (in shares) | shares | (6,193) |
Options outstanding (in shares) | shares | |
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 2.95 |
Options exercised, weighted average exercise price (in dollars per share) | $ / shares | 2.95 |
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares | |
Stock Option Plan 2013 [Member] | |
Options outstanding (in shares) | shares | 196,500 |
Options exercised (in shares) | shares | (17,515) |
Options outstanding (in shares) | shares | 176,585 |
Options cancelled (in shares) | shares | (2,400) |
Options outstanding, weighted average remaining contractual term (Year) | 5 years 36 days |
Options exercisable (in shares) | shares | 102,860 |
Options exercisable, weighted average remaining contractual term (Year) | 4 years 146 days |
Options expected to vest (in shares) | shares | 65,328 |
Options expected to vest, weighted average remaining contractual term (Year) | 6 years 36 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 13.84 |
Options exercised, weighted average exercise price (in dollars per share) | $ / shares | 7.24 |
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares | 14.57 |
Options cancelled, weighted average exercise price (in dollars per share) | $ / shares | $ 8.75 |
Options outstanding, intrinsic value | $ | $ 1,726,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 10.62 |
Options exercisable, intrinsic value | $ | $ 1,409,000 |
Options expected to vest, weighted average exercise price (in dollars per share) | $ / shares | $ 20.07 |
Options expected to vest, intrinsic value | $ | $ 317,000 |
Note 8 - Stock-based Compensa_5
Note 8 - Stock-based Compensation - Weighted Average Fair Value Assumptions (Details) | 6 Months Ended |
Jun. 30, 2018$ / shares | |
Weighted-average fair value of options granted during the three months ended March 31, 2018 (in dollars per share) | $ 6.54 |
Share-based Payment Arrangement, Option [Member] | |
Expected life of stock options (Year) | 5 years 36 days |
Risk free interest rate | 2.38% |
Volatility | 30.40% |
Dividend yields | 1.39% |
Note 10 - Fair Value Measurem_3
Note 10 - Fair Value Measurement (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ (63,000) | $ (35,000) | ||
Impaired Loans [Member] | ||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ (63,000) | $ 3,000 |
Note 10 - Fair Value Measurem_4
Note 10 - Fair Value Measurement - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Estimated fair value | $ 173,692 | $ 171,507 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 33,747 | 46,686 |
Estimated fair value | 173,692 | 171,507 |
Loans, net | 588,600 | 562,498 |
FHLB stock | 3,517 | 3,027 |
Accrued interest receivable | 3,101 | 3,345 |
Deposits | 737,211 | 726,565 |
Repurchase agreements | 7,944 | 13,058 |
Junior subordinated deferrable interest debentures | 10,310 | 10,310 |
Accrued interest payable | 94 | 88 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 33,747 | 46,686 |
Estimated fair value | 173,692 | 171,507 |
Loans, net | 621,764 | 580,396 |
Accrued interest receivable | 3,101 | 3,345 |
Deposits | 737,239 | 726,649 |
Repurchase agreements | 7,944 | 13,058 |
Junior subordinated deferrable interest debentures | 7,701 | 8,092 |
Accrued interest payable | 94 | 88 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 33,747 | 46,686 |
Accrued interest receivable | 6 | 22 |
Deposits | 687,517 | 669,599 |
Accrued interest payable | 12 | 11 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Estimated fair value | 173,692 | 171,507 |
Accrued interest receivable | 614 | 685 |
Deposits | 49,722 | 57,050 |
Repurchase agreements | 7,944 | 13,058 |
Accrued interest payable | 60 | 52 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 621,764 | 580,396 |
Accrued interest receivable | 2,481 | 2,638 |
Junior subordinated deferrable interest debentures | 7,701 | 8,092 |
Accrued interest payable | $ 22 | $ 25 |
Note 10 - Fair Value Measurem_5
Note 10 - Fair Value Measurement - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale | $ 173,692 | $ 171,507 |
Fair Value, Recurring [Member] | ||
Debt Securities, Available-for-sale | 173,692 | 171,507 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale | 173,692 | 171,507 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Debt Securities, Available-for-sale | 143,407 | 132,678 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | ||
Debt Securities, Available-for-sale | 143,407 | 132,678 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale | 143,407 | 132,678 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-sale | 30,285 | 38,829 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Debt Securities, Available-for-sale | 30,285 | 38,829 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale | $ 30,285 | $ 38,829 |
Note 10 - Fair Value Measurem_6
Note 10 - Fair Value Measurement - Assets and Liabilities Measured at Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2019 | |
Other real estate, Total gain (loss) | $ (38) | ||
Asset, Total gain (loss) | (63) | (35) | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Impaired loans, Total gain (loss) | (63) | 3 | |
Other real estate, Total gain (loss) | |||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Other real estate, Total gain (loss) | |||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Other real estate, Total gain (loss) | (38) | ||
Fair Value, Nonrecurring [Member] | |||
Other real estate | 1,094 | 1,170 | |
Assets | 1,510 | 1,170 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Other real estate | |||
Assets | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Other real estate | |||
Assets | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Other real estate | 1,094 | 1,170 | |
Assets | 1,510 | 1,170 | |
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Impaired loans | 416 | ||
Other real estate | 455 | 455 | $ 455 |
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Impaired loans | |||
Other real estate | |||
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Impaired loans | |||
Other real estate | |||
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Impaired loans | 416 | ||
Other real estate | 455 | 455 | |
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Impaired loans | 416 | ||
Other real estate | 347 | 347 | 347 |
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Other real estate | 347 | 347 | |
Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Other real estate | 292 | 368 | $ 292 |
Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Other real estate | |||
Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Other real estate | |||
Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Other real estate | $ 292 | $ 368 |
Note 10 - Fair Value Measurem_7
Note 10 - Fair Value Measurement - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on a Non-recurring Basis (Details) $ in Thousands | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Measurement Input, Cost to Sell [Member] | |||
Impaired loans, Measurement Input | 0.1 | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Measurement Input, Cost to Sell [Member] | Weighted Average [Member] | |||
Impaired loans, Measurement Input | 0.1 | ||
Other real estate, Measurement Input | 0.16 | 0.16 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Measurement Input, Cost to Sell [Member] | Minimum [Member] | |||
Impaired loans, Measurement Input | |||
Other real estate, Measurement Input | 0.16 | 0.16 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Measurement Input, Cost to Sell [Member] | Maximum [Member] | |||
Other real estate, Measurement Input | 0.17 | 0.17 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Measurement Input, Cost to Sell [Member] | Weighted Average [Member] | |||
Other real estate, Measurement Input | 0.24 | 0.24 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Measurement Input, Cost to Sell [Member] | Minimum [Member] | |||
Other real estate, Measurement Input | 0.1 | 0.1 | |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Measurement Input, Cost to Sell [Member] | Maximum [Member] | |||
Other real estate, Measurement Input | 0.51 | 0.51 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Measurement Input, Cost to Sell [Member] | Weighted Average [Member] | |||
Other real estate, Measurement Input | (0.1) | 0.16 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Measurement Input, Cost to Sell [Member] | Minimum [Member] | |||
Other real estate, Measurement Input | 0.1 | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Measurement Input, Cost to Sell [Member] | Maximum [Member] | |||
Other real estate, Measurement Input | 0.1 | 0.34 | |
Fair Value, Nonrecurring [Member] | |||
Other real estate | $ 1,094 | $ 1,170 | |
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Impaired loans | $ 416 | ||
Other real estate | 347 | 347 | 347 |
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Impaired loans | 416 | ||
Other real estate | 455 | 455 | 455 |
Fair Value, Nonrecurring [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Other real estate | $ 292 | $ 292 | $ 368 |