Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 12, 2021 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | BANK OF THE JAMES FINANCIAL GROUP INC | |
Entity File Number | 001-35402 | |
Entity Incorporation, State or Country Code | VA | |
Entity Tax Identification Number | 20-0500300 | |
Entity Address, Address Line One | 828 Main Street | |
Entity Address, City or Town | Lynchburg | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 24504 | |
City Area Code | 434 | |
Local Phone Number | 846-2000 | |
Document Fiscal Year Focus | 2021 | |
Entity Central Index Key | 0001275101 | |
Title of 12(b) Security | Common Stock, 2.14 per share par value | |
Trading Symbol | BOTJ | |
Security Exchange Name | NASDAQ | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 4,324,836 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and due from banks | $ 33,725 | $ 31,683 |
Federal funds sold | 90,325 | 69,203 |
Total cash and cash equivalents | 124,050 | 100,886 |
Securities held-to-maturity (fair value of $3,948 in 2021 and $4,192 in 2020) | 3,667 | 3,671 |
Securities available-for-sale, at fair value | 99,832 | 90,185 |
Restricted stock, at cost | 1,551 | 1,551 |
Loans, net of allowance for loan losses of $7,106 in 2021 and $7,156 in 2020 | 606,485 | 601,934 |
Loans held for sale | 4,150 | 7,102 |
Premises and equipment, net | 17,228 | 16,982 |
Interest receivable | 2,256 | 2,350 |
Cash value - bank owned life insurance | 16,453 | 16,355 |
Other real estate owned | 761 | 1,105 |
Other assets | 9,927 | 9,265 |
Total assets | 886,360 | 851,386 |
Deposits | ||
Noninterest bearing demand | 158,469 | 143,345 |
NOW, money market and savings | 497,191 | 463,506 |
Time | 145,530 | 158,116 |
Total deposits | 801,190 | 764,967 |
Capital notes | 10,029 | 10,027 |
Interest payable | 64 | 85 |
Other liabilities | 9,743 | 9,575 |
Total liabilities | 821,026 | 784,654 |
Commitments and Contingencies | ||
Stockholders' equity | ||
Preferred stock; authorized 1,000,000 shares; none issued and outstanding | ||
Common stock $2.14 par value; authorized 10,000,000 shares; issued and outstanding 4,324,836 and 4,339,436 as of March 31, 2021 and December 31, 2020 | 9,255 | 9,286 |
Additional paid-in-capital | 30,808 | 30,989 |
Retained earnings | 26,196 | 24,665 |
Accumulated other comprehensive (loss) income | (925) | 1,792 |
Total stockholders' equity | 65,334 | 66,732 |
Total liabilities and stockholders' equity | $ 886,360 | $ 851,386 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Consolidated Balance Sheets [Abstract] | ||
Securities held-to-maturity, fair value | $ 3,948 | $ 4,192 |
Loans, allowance for loan losses | $ 7,106 | $ 7,156 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 2.14 | $ 2.14 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 4,324,836 | 4,339,436 |
Common stock, shares outstanding | 4,324,836 | 4,339,436 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest Income | ||
Loans | $ 6,860,000 | $ 7,005,000 |
Securities | ||
US Government and agency obligations | 191,000 | 187,000 |
Mortgage backed securities | 77,000 | 59,000 |
Municipals - taxable | 143,000 | 75,000 |
Municipals - tax exempt | 10,000 | |
Dividends | 6,000 | 9,000 |
Other (Corporates) | 50,000 | 23,000 |
Interest bearing deposits | 14,000 | 64,000 |
Federal Funds sold | 14,000 | 66,000 |
Total interest income | 7,365,000 | 7,488,000 |
Deposits | ||
NOW, money market savings | 135,000 | 326,000 |
Time Deposits | 373,000 | 946,000 |
Finance leases | 27,000 | 30,000 |
Capital notes | 82,000 | 50,000 |
Total interest expense | 617,000 | 1,352,000 |
Net interest income | 6,748,000 | 6,136,000 |
Provision for loan losses | 888,000 | |
Net interest income after provision for loan losses | 6,748,000 | 5,248,000 |
Noninterest income | ||
Gain on sales of loans held for sale | 1,774,000 | 1,177,000 |
Service charges, fees and commissions | 554,000 | 488,000 |
Life insurance income | 98,000 | 78,000 |
Other | 8,000 | 12,000 |
Gain on sales and calls of securities, net | 431,000 | |
Total noninterest income | 2,434,000 | 2,186,000 |
Noninterest expenses | ||
Salaries and employee benefits | 3,732,000 | 3,354,000 |
Occupancy | 428,000 | 436,000 |
Equipment | 626,000 | 609,000 |
Supplies | 118,000 | 127,000 |
Professional, data processing, and other outside expense | 914,000 | 924,000 |
Marketing | 273,000 | 136,000 |
Credit expense | 276,000 | 196,000 |
Other real estate expenses | 66,000 | 99,000 |
FDIC insurance expense | 165,000 | 57,000 |
Other | 291,000 | 259,000 |
Total noninterest expenses | 6,889,000 | 6,197,000 |
Income before income taxes | 2,293,000 | 1,237,000 |
Income tax expense | 458,000 | 242,000 |
Net Income | $ 1,835,000 | $ 995,000 |
Weighted average shares outstanding - basic | 4,333,274 | 4,348,040 |
Weighted average shares outstanding- diluted | 4,333,274 | 4,348,040 |
Earnings per common share - basic | $ 0.42 | $ 0.23 |
Earnings per common share - diluted | $ 0.42 | $ 0.23 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income (Loss) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Consolidated Statements Of Comprehensive Income (Loss) [Abstract] | |||
Net Income | $ 1,835,000 | $ 995,000 | |
Other comprehensive (loss) income: | |||
Unrealized gains on securities available-for-sale | (3,439,000) | 2,287,000 | |
Unrealized gains on securities available-for-sale, Tax effect | 722,000 | (480,000) | |
Reclassification adjustment for gains included in net income | [1] | (431,000) | |
Reclassification adjustment for gains included in net income, Tax effect | [2] | 91,000 | |
Other comprehensive (loss) income, net of tax | (2,717,000) | 1,467,000 | |
Comprehensive (loss) income | $ (882,000) | $ 2,462,000 | |
[1] | Gains are included in "gain on sales and calls of available-for-sale securities, net" on the consolidated statements of income. | ||
[2] | The tax effect on these reclassifications is reflected in "income tax expense" on the consolidated statements of income. |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Cash flows from operating activities | |||
Net Income | $ 1,835,000 | $ 995,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 506,000 | 504,000 | |
Stock based compensation expense | 27,000 | 27,000 | |
Net amortization and accretion of premiums and discounts on securities | 628,000 | 100,000 | |
Amortization of debt issuance costs | 2,000 | ||
(Gain) on sales of available-for-sale securities | (431,000) | ||
(Gain) on sales of loans held for sale | (1,774,000) | (1,177,000) | |
Proceeds from sales of loans held for sale | 82,424,000 | 46,037,000 | |
Origination of loans held for sale | (77,698,000) | (46,773,000) | |
Provision for loan losses | 888,000 | $ 2,548,000 | |
Loss (gain) on sale of other real estate owned | 66,000 | (6,000) | (29,000) |
Impairment of other real estate owned | 102,000 | ||
Bank owned life insurance income | (98,000) | (78,000) | |
(Decrease) increase in interest receivable | 94,000 | (56,000) | |
(Increase) decrease in other assets | (65,000) | 39,000 | |
(Decrease) increase in interest payable | (21,000) | 3,000 | |
Increase in other liabilities | 245,000 | 17,000 | |
Net cash provided by operating activities | 6,171,000 | 191,000 | |
Cash flows from investing activities | |||
Purchases of securities available-for-sale | (14,543,000) | (8,259,000) | |
Proceeds from maturities, calls and paydowns of securities available-for-sale | 833,000 | 495,000 | |
Proceeds from sale of securities available-for-sale | 0 | 14,619,000 | |
Purchases of bank owned life insurance | (2,750,000) | ||
Life insurance proceeds | 588,000 | ||
Proceeds from sale of other real estate owned | 344,000 | 500,000 | |
Origination of loans, net of principal collected | (4,617,000) | 1,709,000 | |
Purchases of premises and equipment | (627,000) | (159,000) | |
Net cash (used in) provided by investing activities | (18,610,000) | 6,743,000 | |
Cash flows from financing activities | |||
Net increase in deposits | 36,223,000 | 18,811,000 | |
Principal payments on finance lease obligations | (104,000) | (80,000) | |
Repurchase of common stock | (212,000) | (275,000) | |
Dividends paid to common stockholders | (304,000) | (304,000) | |
Net cash provided by financing activities | 35,603,000 | 18,152,000 | |
Increase in cash and cash equivalents | 23,164,000 | 25,086,000 | |
Cash and cash equivalents at beginning of period | 100,886,000 | 39,111,000 | 39,111,000 |
Cash and cash equivalents at end of period | 124,050,000 | 64,197,000 | 100,886,000 |
Non cash transactions | |||
Transfer of loans to other real estate owned | 66,000 | 18,000 | $ 18,000 |
Fair value adjustment for securities available-for-sale | (3,439,000) | 1,856,000 | |
Cash transactions | |||
Cash paid for interest | 638,000 | 1,349,000 | |
Cash paid for income taxes |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at Dec. 31, 2019 | $ 9,325,000 | $ 31,225,000 | $ 20,900,000 | $ (5,000) | $ 61,445,000 |
Balance, shares at Dec. 31, 2019 | 4,357,436 | ||||
Net Income | 995,000 | 995,000 | |||
Dividends paid on common stock ($0.28 per share) | (304,000) | (304,000) | |||
Repurchase of common stock | $ (39,000) | (236,000) | (275,000) | ||
Repurchase of common stock, shares | (18,000) | ||||
Other comprehensive (loss) income | 1,467,000 | 1,467,000 | |||
Balance at Mar. 31, 2020 | $ 9,286,000 | 30,989,000 | 21,591,000 | 1,462,000 | 63,328,000 |
Balance, shares at Mar. 31, 2020 | 4,339,436 | ||||
Balance at Dec. 31, 2020 | $ 9,286,000 | 30,989,000 | 24,665,000 | 1,792,000 | 66,732,000 |
Balance, shares at Dec. 31, 2020 | 4,339,436 | ||||
Net Income | 1,835,000 | 1,835,000 | |||
Dividends paid on common stock ($0.28 per share) | (304,000) | (304,000) | |||
Repurchase of common stock | $ (31,000) | (181,000) | (212,000) | ||
Repurchase of common stock, shares | (14,600) | ||||
Other comprehensive (loss) income | (2,717,000) | (2,717,000) | |||
Balance at Mar. 31, 2021 | $ 9,255,000 | $ 30,808,000 | $ 26,196,000 | $ (925,000) | $ 65,334,000 |
Balance, shares at Mar. 31, 2021 | 4,324,836 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Consolidated Statements Of Changes In Stockholders' Equity [Abstract] | ||
Dividend on common stock, per share | $ 0.28 | $ 0.28 |
Basis Of Presentation
Basis Of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Basis Of Presentation [Abstract] | |
Basis Of Presentation | Note 1 – Basis of Presentation The unaudited consolidated financial statements have been prepared by Bank of the James Financial Group, Inc. ( “ Financial ” or the “ Company ” ) pursuant to the rules and regulations of the Securities and Exchange Commission. In management’s opinion the accompanying financial statements, which unless otherwise noted are unaudited, reflect all adjustments, consisting solely of normal recurring accruals, necessary for a fair presentation of the financial information as of March 31, 2021 and 2020 and for the three months ended March 31, 2021 and 20 20 in conformity with accounting principles generally accepted in the United States of America. Additional information concerning the organization and business of Financial, accounting policies followed, and other related information is contained in Financial’s Annual Report on Form 10-K for the year ended December 31, 20 20 . These financial statements should be read in conjunction with the audited consolidated financial statements and footnotes for the year ended December 31, 20 20 included in Financial’s Annual Report on Form 10-K. Results for the three month period ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 202 1 . Certain immaterial reclassifications have been made to prior period balances to conform to the current period presentation. The Company’s primary market area consists of the area commonly referred to as Region 2000 which encompasses the seven jurisdictions of the Town of Altavista, Amherst County, Appomattox County, the Town of Bedford, Bedford County, Campbell County, and the City of Lynchburg. Recently, the Company has expanded into Charlottesville, Roanoke, Blacksburg, Harrisonburg, Lexington, and Rustburg. Financial’s critical accounting policies include the evaluation of the allowance for loan losses which is based on management’s estimate of an amount that is adequate to absorb probable losses inherent in the loan portfolio of Bank of the James (the “ Bank ” ), Financial’s wholly-owned subsidiary. The allowance for loan losses is established through a provision for loan losses based on available information including the composition of the loan portfolio, historical loan losses, specific impaired loans, availability and quality of collateral, age of the various portfolios, changes in local economic conditions, and loan performance and quality of the portfolio. Different assumptions used in evaluating the adequacy of the Bank’s allowance for loan losses could result in material changes in Financial’s financial condition and results of operations. The Bank’s policy with respect to the methodology for determining the allowance for loan losses involves a higher degree of complexity and requires management to make subjective judgments that often require assumptions or estimates about uncertain matters. This critical policy and its assumptions are periodically reviewed with the Board of Directors. Financial also considers valuation of other real estate owned (OREO) a critical accounting policy. OREO consists of properties acquired through foreclosure or deed in lieu of foreclosure. These properties are carried at fair value less estimated costs to sell at the date of foreclosure. Losses from the acquisition of property in full or partial satisfaction of loans are charged against the allowance for loan losses. Subsequent write-downs, if any, are charged against expense. Gains and losses on the sales of foreclosed properties are included in determining net income in the year of the sale. Operating costs after acquisition are expensed. |
Use Of Estimates
Use Of Estimates | 3 Months Ended |
Mar. 31, 2021 | |
Use Of Estimates [Abstract] | |
Use Of Estimates | Note 2 – Use of Estimates The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America which require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. |
Earnings Per Common Share (EPS)
Earnings Per Common Share (EPS) | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Common Share (EPS) [Abstract] | |
Earnings Per Common Share (EPS) | Note 3 – Earnings Per Common Share (EPS) The following is a summary of the earnings per share calculation for the three months ended March 31, 2021 and 20 20 . Three Months Ended March 31, 2021 2020 Net income $ 1,835,000 $ 995,000 Weighted average number of shares 4,333,274 4,348,040 Restricted stock units/stock options affect of incremental shares - - Weighted average diluted shares 4,333,274 4,348,040 Basic EPS (weighted avg shares) $ 0.42 $ 0.23 Diluted EPS (Including incremental shares) $ 0.42 $ 0.23 In 2021 and 2020, all restricted stock units (RSUs) were excluded from calculating diluted earnings per share as the Company elected to settle units vesting in 2021 and 2020 wholly in cash. Going forward, management has adopted a cash settlement policy for all currently outstanding RSUs. Prior to 2020, the presumption was that the shares would be settled in common stock and the RSUs were included in the calculation of diluted EPS. There were no potentially dilutive shares excluded from the 20 21 and 2020 earnings per share calculation because they were anti-dilutive. |
Stock Based Compensation
Stock Based Compensation | 3 Months Ended |
Mar. 31, 2021 | |
Stock Based Compensation [Abstract] | |
Stock Based Compensation | Note 4 – Stock Based Compensation Accounting standards require companies to recognize the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock, based on the fair value of those awards. Note 4 – Stock Based Compensation (continued) At the annual meeting of shareholders held on May 15, 2018, the shareholders approved the Bank of the James Financial Group, Inc. 2018 Equity Incentive Plan (the “ 2018 Incentive Plan ” ). The 2018 Incentive Plan permits the issuance of up to 250,000 shares of common stock for awards to key employees of the Company and its subsidiaries in the form of stock options, restricted stock, restricted stock units, stock awards and performance units. On January 2, 2019, the Company granted its first block of equity compensation under the 2018 Incentive Plan consisting of 24,500 restricted stock units. The recipients of restricted stock units do not receive shares of the Company’s stock immediately, but instead may receive shares, cash in lieu of shares, or a combination thereof upon satisfying the requisite service period specified by the terms and conditions of the gran t. Add itionally, the recipients of restricted stock units do not enjoy the rights of holder of the Company’s common stock until the units have vested and as such, they do not have voting rights or rights to nonforfeitable dividends. The related compensation exp ense is based on the fair value of the Company’s stock. RSUs vest over 3 years in thirds with the first one -third vesting on January 2, 2020. The value of the first one-third vested portion of the grant was settled with cash payments and no shares were issued. The total expense recognized for the three months ended March 31, 2021 and 20 20 , in connection with the restricted stock unit awards was approximately $27,000 in each of the periods . There were no forfeitures during the three month period ending March 31, 2021 . At March 31, 2021 , the unrecognized stock-based compensation expense related to unvested restricted stock units amounted to approximately $80,000 . The unrecognized expense will be recognized ratably over the remaining vesting period of 0.75 years. The Company accounts for forfeitures as they occur. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 5 – Fair Value Measurements Determination of Fair Value The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the Fair Value Measurements and Disclosures topic of FASB ASC, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market and in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future Note 5 – Fair Value Measurements (continued) cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The fair value guidance provides a consistent definition of fair value, which focuses on exit price in the principal or most advantageous market and in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. Fair Value Hierarchy In accordance with this guidance, the Company groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. · Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. · Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. · Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Fair Value on a Recurring Basis Securities Available-for-Sale Fair values of securities available-for sale are based on quoted prices available in an active market. If quoted prices are available, these securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities would include U.S. agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. Currently, all of the Company’s securities are considered to be Level 2 securities. The following table summarizes the Company’s financial assets that were measured at fair value on a recurring basis during the period. Note 5 – Fair Value Measurements (continued) Derivatives Assets/Liabilities – Interest Rate Lock Commitments (IRLCs) The Company recognizes IRLCs at fair value based on the price of the underlying loans obtained from an investor for loans that will be delivered on a best efforts basis while taking into consideration the probability that the rate lock commitments will close. All of the Company’s IRLCs are classified as Level 3. Carrying Value at March 31, 2021 (in thousands) Description Balance as of March 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) US Treasuries $2,022 $ - $2,022 $ - US agency obligations 46,751 - 46,751 - Mortgage-backed securities 16,488 - 16,488 - Municipals 28,250 - 28,250 - Corporates 6,321 - 6,321 - Total available-for-sale securities $99,832 $ - $99,832 $ - IRLCs - asset 262 - - 262 Total assets at fair value $100,094 $ - $99,832 $262 Carrying Value at December 31, 2020 (in thousands) Description Balance as of December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) US Treasuries $2,027 $ - $2,027 $ - US agency obligations 41,320 - 41,320 - Mortgage-backed securities 15,696 - 15,696 - Municipals 24,773 - 24,773 - Corporates 6,369 - 6,369 - Total available-for-sale securities $90,185 $ - $90,185 $ - IRLCs – asset 425 - - 425 Total assets at fair value $90,610 $ - $90,185 $425 The following table provides additional quantitative information about assets measured at fair value on a recurring basis and for which we have utilized Level 3 inputs to determine fair value: Note 5 – Fair Value Measurements (continued) Quantitative information about Level 3 Fair Value Measurements for March 31, 2021 (dollars in thousands) Fair Value Valuation Te chnique(s) Unobservable Input Range (Weighted Average) (1) Assets IRLCs - asset $262 Market approach Range of pull through rate 70% - 100% ( 85% ) (1) Weighted based on the relative value of the instruments Quantitative information about Level 3 Fair Value Measurements for December 31, 2020 (dollars in thousands) Fair Value Valuation Te chnique(s) Unobservable Input Range (Weighted Average) (1) Assets IRLCs - asset $425 Market approach Range of pull through rate 70% - 100% ( 85% ) (1) Weighted based on the relative value of the instruments Fair Value on a Non-recurring Basis Impaired loans Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected when due. The measurement of loss associated with impaired loans can be based on either the observable market price of the loan or the fair value of the collateral. Fair value is measured based on the value of the collateral securing the loans. Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the collateral is real estate. The value of real estate collateral is determined utilizing an income or market valuation approach based on an appraisal conducted by an independent, licensed appraiser outside of the Bank using observable market data (Level 2). However, in situations where the collateral is a house or building in the process of construction, the appraisal is more than 12 months old, management has determined the fair value of the collateral is further impaired below the appraised value, or the appraisal is not based solely on market comparables adjusted for observable inputs, the value is considered Level 3. The value of business equipment is based upon an outside appraisal if deemed significant, or the net book value on the applicable business’ financial statements if not considered significant using observable market data. Likewise, values for inventory and accounts receivables collateral are based on financial statement balances or aging reports (Level 3). Any fair value adjustments are recorded in the period incurred as provision for loan losses on the Consolidated Statements of Income. Note 5 – Fair Value Measurements (continued) Loans held for sale Loans held for sale are carried at cost which approximates estimated fair value. These loans currently consist of one-to-four family residential loans originated for sale in the secondary market. Fair value is based on the price secondary markets are currently offering for similar loans using observable market data which is not materially different than cost due to the short duration between origination and sale (Level 2). As such, the Company records fair value adjustments on a nonrecurring basis. No nonrecurring fair value adjustments were recorded on loans held for sale during the period ended March 31, 2021 . Gains and losses on the sale of loans are recorded within gains on sales of loans held for sale, net on the Consolidated Statements of Income. Other real estate owned Certain assets such as other real estate owned (OREO) are measured at fair value less cost to sell. We believe that the fair value component in its valuation follows the provisions of ASC 820. Real estate acquired through foreclosure is transferred to OREO. The measurement of loss associated with OREO is based on the fair value of the collateral compared to the unpaid loan balance and anticipated costs to sell the property. The value of OREO property is determined utilizing an income or market valuation approach based on an appraisal conducted by an independent, licensed appraiser outside of the Bank using observable market data (Level 2). Any fair value adjustments are recorded in the period incurred and expensed against current earnings. However, in situations where the collateral is a house or building in the process of construction, the appraisal is more than 12 months old, management has determined the fair value of the collateral is further impaired below the appraised value, or the appraisal is not based solely on market comparables adjusted for observable inputs, the value is considered Level 3. Note 5 – Fair Value Measurements (continued) The following table summarizes the Company’s impaired loans and OREO measured at fair value on a nonrecurring basis during the period (in thousands): Carrying Value at March 31, 2021 Description Balance as of March 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans* $1,842 $ - $ - $1,842 Other real estate owned 761 - - 761 * Includes loans charged down to the net realizable value of the collateral. Carrying Value at December 31, 2020 Description Balance as of December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans* $1,829 $ - $ - $1,829 Other real estate owned 1,105 - - 1,105 * Includes loans charged down to the net realizable value of the collateral. The following table sets forth information regarding the quantitative inputs used to value assets classified as Level 3: Quantitative information about Level 3 Fair Value Measurements for March 31, 2021 (dollars in thousands) Fair Value Valuation Te chnique(s) Unobservable Input Range (Weighted Average) (1) Assets Impaired loans $1,842 Discounted appraised value Selling cost 0 % - 10 % ( 8 %) Discount for lack of marketability and age of appraisal 0 % - 20 % ( 6 %) OREO 761 Discounted appraised value Selling cost 10% Discount for lack of marketability and age of appraisal 0 % - 25 % ( 15 %) (1) Weighted based on the relative value of the instruments. Note 5 – Fair Value Measurements (continued) Quantitative information about Level 3 Fair Value Measurements for December 31, 2020 (dollars in thousands) Fair Value Valuation Te chnique(s) Unobservable Input Range (Weighted Average) (1) Assets Impaired loans $1,829 Discounted appraised value Selling cost 0% - 10% ( 8% ) Discount for lack of marketability and age of appraisal 0% - 20% ( 6% ) OREO 1,105 Discounted appraised value Selling cost 10% Discount for lack of marketability and age of appraisal 0% - 25% ( 15% ) (1) Weighted based on the relative value of the instruments. Financial Instruments FASB ASC 825, Financial Instruments, requires disclosure about fair value of financial instruments, including those financial assets and financial liabilities that are not required to be measured and reported at fair value on a recurring or nonrecurring basis. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. The carrying amounts and estimated fair values of the Company’s financial instruments are presented in the following tables whether or not recognized on the Consolidated Balance Sheets at fair value. Note 5 – Fair Value Measurements (continued) The estimated fair values, and related carrying or notional amounts, of Financial’s financial instruments and their placement in the fair value hierarchy at March 31, 2021 and December 31, 20 20 was as follows (in thousands): Fair Value Measurements at March 31, 2021 using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Assets Amounts (Level 1) (Level 2) (Level 3) Balance Cash and due from banks $33,725 $33,725 $ - $ - $33,725 Fed funds sold 90,325 90,325 - - 90,325 Securities Available-for-sale 99,832 - 99,832 - 99,832 Held-to-maturity 3,667 - 3,948 - 3,948 Restricted stock 1,551 1,551 - 1,551 Loans, net (1) 606,485 - - 614,956 614,956 Loans held for sale 4,150 - 4,150 - 4,150 Interest receivable 303 - 303 - 303 BOLI 16,453 - 16,453 - 16,453 Derivatives - IRLCs 262 - - 262 262 Liabilities Deposits $801,190 $ - $802,071 $ - $802,071 Capital notes 10,029 - 9,058 - 9,058 Interest payable 64 - 64 - 64 Fair Value Measurements at December 31, 2020 using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Assets Amounts (Level 1) (Level 2) (Level 3) Balance Cash and due from banks $31,683 $31,683 $ - $ - $31,683 Fed funds sold 69,203 69,203 - - 69,203 Securities Available-for-sale 90,185 - 90,185 - 90,185 Held-to-maturity 3,671 - 4,192 - 4,192 Restricted stock 1,551 - 1,551 - 1,551 Loans, net 601,934 - - 598,745 598,745 Loans held for sale 7,102 - 7,102 - 7,102 Interest receivable 2,350 - 2,350 - 2,350 BOLI 16,355 - 16,355 - 16,355 Derivatives - IRLCs 425 - - 425 425 Liabilities Deposits $764,967 $ - $766,212 $ - $766,212 Capital notes 10,027 - 9,003 - 9,003 Interest payable 85 - 85 - 85 (1) Carrying amount is net of unearned income and the Allowance. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2021 | |
Securities [Abstract] | |
Securities | Note 6 - Securities The following tables summarize the Bank’s holdings for both securities held-to-maturity and securities available-for-sale as of March 31, 2021 and December 31, 20 20 (amounts in thousands): March 31, 2021 Amortized Gross Unrealized Fair Value Costs Gains (Losses) Held-to-Maturity US agency obligations $3,667 $281 $ - $3,948 Available-for-Sale US Treasuries 2,000 22 - 2,022 US agency obligations 47,427 649 (1,325) 46,751 Mortgage-backed securities 16,646 149 (307) 16,488 Municipals 28,864 336 (950) 28,250 Corporates 6,066 255 - 6,321 $101,003 $1,411 $(2,582) $99,832 December 31, 20 20 Amortized Gross Unrealized Fair Value Costs Gains (Losses) Held-to-Maturity US agency obligations $3,671 $521 $ - $4,192 Available-for-Sale US Treasuries $2,000 $27 $ - $2,027 US agency obligations 40,111 1,544 (335) 41,320 Mortgage-backed securities 15,461 241 (6) 15,696 Municipals 24,275 594 (96) 24,773 Corporates 6,070 299 - 6,369 $87,917 $2,705 $(437) $90,185 Note 6 – Securities (continued) The following tables show the gross unrealized losses and fair value of the Bank’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2021 and December 31, 20 20 (amounts in thousands): Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2021 Value Losses Value Losses Value Losses Description of securities Held-to-maturity US agency obligations $ - $ - $ - $ - $ - $ - Available-for-sale US Treasuries - - - - - - US agency obligations 25,166 1,325 - - 25,166 1,325 Mortgage-backed securities 10,750 307 - - 10,750 307 Municipals 17,178 950 - - 17,178 950 Corporates - - - - - - Total $53,094 $2,582 $ - $ - $53,094 $2,582 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2020 Value Losses Value Losses Value Losses Description of securities Held-to-maturity US agency obligations $ - $ - $ - $ - $ - $ - Available-for-sale US Treasuries - - - - - - US agency obligations 15,808 335 - - 15,808 335 Mortgage-backed securities 8,201 6 - - 8,201 6 Municipals 8,202 96 - - 8,202 96 Corporates - - - - - - Total $32,211 $437 $ - $ - $32,211 $437 Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and may do so more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) the intent of Financial, if any, to sell the security; (4) whether Financial more likely than not will be Note 6 – Securities (continued) required to sell the security before recovering its cost; and (5) whether Financial does not expect to recover the security’s entire amortized cost basis (even if Financial does not intend to sell the security). At March 31, 2021 , the Company did not consider the unrealized losses as other-than-temporary losses due to the nature of the securities involved. As of March 31, 2021 , the Bank owned 36 securities in an unrealized loss position that were being evaluated for other than temporary impairment. Thirteen of these securities was S&P rated AA A and 23 w ere rated AA . As of March 31, 2021 , 20 of these securities w ere municipal issue s and 16 w ere backed by the US government. Based on the analysis performed by management as mandated by the Bank’s investment policy, management believes the default risk to be minimal. Because management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to change in interest rates and other market conditions, no declines currently are deemed to be other-than-temporary. There were no sales of available-for-sale securities during the t hree months ended March 31, 2021 as compared to $14,619 in sales during the same periods in 2020 . In 2020, there were gross gains on sales of available-for-sale securities of $431 during the three month perio ds ended March 31, 2020 . There were no sales of held-to-maturity securities during the three mo nth periods ended March 31, 2021 and 2019 . |
Business Segments
Business Segments | 3 Months Ended |
Mar. 31, 2021 | |
Business Segments [Abstract] | |
Business Segments | Note 7 – Business Segments The Company has two reportable business segments: (i) a traditional full-service community banking segment and, (ii) a mortgage loan origination business. The community banking business segment includes Bank of the James which provides loans, deposits, investments and insurance to retail and commercial customers throughout Region 2000 and other areas within Central Virginia. The mortgage segment provides a variety of mortgage loan products principally within Region 2000. Mortgage loans are originated and sold in the secondary market through purchase commitments from investors with servicing released. Because of the pre-arranged purchase commitments, there is minimal risk to the Company. Both of the Company’s reportable segments are service based. The mortgage business is a gain on sale business while the Bank’s primary source of revenue is net interest income. The Bank also provides a referral network for the mortgage origination business. The mortgage business may also be in a position to refer its customers to the Bank for banking services when appropriate. Information about reportable business segments and reconciliation of such information to the consolidated financial statements for the three months ended March 31, 2021 and 20 20 was as follows (dollars in thousands): Note 7 – Business Segments (continued) Business Segments Community Banking Mortgage Total For the three months ended March 31, 2021 Net interest income $ 6,748 $ - $ 6,748 Provision for loan losses - - - Net interest income after provision for loan losses 6,748 - 6,748 Noninterest income 660 1,774 2,434 Noninterest expenses 5,504 1,385 6,889 Income before income taxes 1,904 389 2,293 Income tax expense 376 82 458 Net income $ 1,528 $ 307 $ 1,835 Total assets $ 881,535 $ 4,825 $ 886,360 For the three months ended March 31, 2020 Net interest income $ 6,136 $ - $ 6,136 Provision for loan losses 888 - 888 Net interest income after provision for loan losses 5,248 - 5,248 Noninterest income 1,009 1,177 2,186 Noninterest expenses 5,340 857 6,197 Income before income taxes 917 320 1,237 Income tax expense 175 67 242 Net income $ 742 $ 253 $ 995 Total assets $ 739,651 $ 6,404 $ 746,055 |
Loans, Allowance For Loan Losse
Loans, Allowance For Loan Losses And OREO | 3 Months Ended |
Mar. 31, 2021 | |
Loans, Allowance For Loan Losses And OREO [Abstract] | |
Loans, Allowance For Loan Losses And OREO | Note 8 – Loans , allowance for loan losses and OREO Management has an established methodology used to determine the adequacy of the allowance for loan losses that assesses the risks and losses inherent in the loan portfolio. For purposes of determining the allowance for loan losses, the Bank has segmented certain loans in the portfolio by product type. Within these segments, the Bank has sub-segmented its portfolio into classes, based on the associated risks. The classifications set forth below do not correspond directly to the classifications set forth in the call report (Form FFIEC 041). Management has determined that the classifications set forth below are more appropriate for use in identifying and managing risk in the loan portfolio. Loan Segments: Loan Classes: Commercial Commercial and industrial loans Commercial real estate Commercial mortgages – owner occupied Commercial mortgages – non-owner occupied Commercial construction Consumer Consumer unsecured Consumer secured Residential Residential mortgages Residential consumer construction A summary of loans, net is as follows (dollars in thousands): As of: March 31 , December 31, 202 1 20 20 Com mercial $155,235 $145,145 Commercial real estate 311,826 309,563 Consumer 90,496 92,344 Residential 56,034 62,038 Total loans (1) 613,591 609,090 Less allowance for loan losses 7,106 7,156 Net loans $606,485 $601,934 (1) Includes net deferred (fees ) of ($716) and ($ 18) as of March 31, 2021 and December 31, 20 20 , respectively. The Bank’s internal risk rating system is in place to grade commercial and commercial real estate loans. Category ratings are reviewed periodically by lenders and the credit review area of the Bank based on the borrower’s individual situation. Additionally, internal and external monitoring and review of credits are conducted on an annual basis. Note 8 – Loans, allowance for loan losses and OREO (continued) Below is a summary and definition of the Bank’s risk rating categories: RATING 1 Excellent RATING 2 Above Average RATING 3 Satisfactory RATING 4 Acceptable / Low Satisfactory RATING 5 Monitor RATING 6 Special Mention RATING 7 Substandard RATING 8 Doubtful RATING 9 Loss We segregate loans into the above categories based on the following criteria and we review the characteristics of each rating at least annually, generally during the first quarter. The characteristics of these ratings are as follows: · “ Pass. ” These are loans having risk ratings of 1 through 4. Pass loans are to persons or business entities with an acceptable financial condition, appropriate collateral margins, appropriate cash flow to service the existing loan, and an appropriate leverage ratio. The borrower has paid all obligations as agreed and it is expected that this type of payment history will continue. When necessary, acceptable personal guarantors support the loan. · “ Monitor. ” These are loans having a risk rating of 5. Monitor loans have currently acceptable risk but may have the potential for a specific defined weakness in the borrower’s operations and the borrower’s ability to generate positive cash flow on a sustained basis. The borrower’s recent payment history may currently or in the future be characterized by late payments. The Bank’s risk exposure is mitigated by collateral supporting the loan. The collateral is considered to be well-margined, well maintained, accessible and readily marketable. · “ Special Mention. ” These are loans having a risk rating of 6. Special Mention loans have weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the bank’s credit position at some future date. Special Mention loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. These loans do warrant more than routine monitoring due to a weakness caused by adverse events. · “ Substandard. ” These are loans having a risk rating of 7. Substandard loans are considered to have specific and well-defined weaknesses that jeopardize the viability of the Bank’s credit extension. The payment history for the loan has been inconsistent and the expected or projected primary repayment source may be inadequate to service the loan. The estimated net liquidation value of the collateral pledged and/or ability of the personal guarantor(s) to pay the loan may Note 8 – Loans, allowance for loan losses and OREO (continued) not adequately protect the Bank. There is a distinct possibility that the Bank will sustain some loss if the deficiencies associated with the loan are not corrected in the near term. A substandard loan would not automatically meet our definition of impaired unless the loan is significantly past due and the borrower’s performance and financial condition provides evidence that it is probable that the Bank will be unable to collect all amounts due. · “ Doubtful. ” These are loans having a risk rating of 8. Doubtful rated loans have all the weaknesses inherent in a loan that is classified substandard but with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high. · “ Loss. ” These are loans having a risk rating of 9. Loss rated loans are not considered collectible under normal circumstances and there is no realistic expectation for any future payment on the loan. Loss rated loans are fully charged off. Loans on Non-Accrual Status ( dollars in thousands ) As of March 31, 2021 December 31, 20 20 Com mercial $117 $121 Commercial Real Estate: Commercial Mortgages-Owner Occupied 911 940 Commercial Mortgages-Non-Owner Occupied 668 552 Commercial Construction - - Consumer Consumer Unsecured - - Consumer Secured 60 240 Residential: Residential Mortgages 207 210 Residential Consumer Construction - - Totals $1,963 $2,063 We also classify other real estate owned (OREO) as a nonperforming asset. OREO represents real property owned by the Bank which was acquired through purchase at foreclosure or from the borrower through a deed in lieu of foreclosure. OREO decreased to $761 on March 31, 2021 from $1,105 on December 31, 20 20 . The following table represents the changes in Note 8 – Loans, allowance for loan losses and OREO (continued) OREO balance during the three months ended March 31, 2021 and year ended December 31, 20 20 . OREO Changes ( dollars in thousands ) Three Months Ended Year Ended March 31, 2021 December 31, 20 20 Balance at the beginning of the year (net) $1,105 $2,339 Transfers from loans 66 18 Capitalized costs - - Valuation adjustments - (437) Sales proceeds (344) (844) Gain (loss) on disposition (66) 29 Balance at the end of the period (net) $761 $1,105 At March 31, 2021 and December 31, 20 20 , the Company had no consumer mortgage loans secured by residential real estate for which foreclosure was in process. The Company held no residential real estate property in other real estate owned as of March 31, 2021 and December 31, 20 20 . Note 8 – Loans, allowance for loan losses and OREO (continued) Impaired Loans (dollars in thousands) As of and For the Three Months Ended March 31, 2021 Unpaid Average Interest Recorded Principal Related Recorded Income 2021 Investment Balance Allowance Investment Recognized With No Related Allowance Recorded: Commercial $ 277 $ 327 $ - $ 309 $ 6 Commercial Real Estate Commercial Mortgages-Owner Occupied 2,105 2,461 - 2,124 41 Commercial Mortgage Non-Owner Occupied 634 685 - 637 4 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 223 223 - 283 4 Residential Residential Mortgages 1,339 1,409 - 1,343 12 Residential Consumer Construction - - - - - With an Allowance Recorded: Commercial $ - $ - $ - $ 2 $ - Commercial Real Estate Commercial Mortgages-Owner Occupied - - - - - Commercial Mortgage Non-Owner Occupied - - - - - Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured - - - - - Residential Residential Mortgages - - - - - Residential Consumer Construction - - - - - Totals: Commercial $ 277 $ 327 $ - $ 311 $ 6 Commercial Real Estate Commercial Mortgages-Owner Occupied 2,105 2,461 - 2,124 41 Commercial Mortgage Non-Owner Occupied 634 685 - 637 4 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 223 223 - 283 4 Residential Residential Mortgages 1,339 1,409 - 1,343 12 Residential Consumer Construction - - - - - $ 4,578 $ 5,105 $ - $ 4,698 $ 67 Note 8 – Loans, allowance for loan losses and OREO (continued) Impaired Loans (dollars in thousands) As of and For the Year Ended December 31, 2020 Unpaid Average Interest Recorded Principal Related Recorded Income 2020 Investment Balance Allowance Investment Recognized With No Related Allowance Recorded: Commercial $ 341 $ 341 $ - $ 405 $ 30 Commercial Real Estate Commercial Mortgages-Owner Occupied 2,143 2,496 - 2,305 135 Commercial Mortgage Non-Owner Occupied 639 677 - 601 43 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 343 346 - 225 16 Residential Residential Mortgages 1,347 1,415 - 1,319 62 Residential Consumer Construction - - - - - With an Allowance Recorded: Commercial $ 4 $ 4 $ 4 $ 6 $ - Commercial Real Estate Commercial Mortgages-Owner Occupied - - - 6 - Commercial Mortgage Non-Owner Occupied - - - 7 - Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured - - - - - Residential Residential Mortgages - - - 70 - Residential Consumer Construction - - - - - Totals: Commercial $ 345 $ 345 $ 4 $ 411 $ 30 Commercial Real Estate Commercial Mortgages-Owner Occupied 2,143 2,496 - 2,311 135 Commercial Mortgage Non-Owner Occupied 639 677 - 608 43 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 343 346 - 225 16 Residential Residential Mortgages 1,347 1,415 - 1,389 62 Residential Consumer Construction - - - - - $ 4,817 $ 5,279 $ 4 $ 4,944 $ 286 Note 8 – Loans, allowance for loan losses and OREO (continued) Allowance for Loan Losses and Recorded Investment in Loans (dollars in thousands) As of and For the Three Months Ended March 31, 2021 Commercial 2021 Commercial Real Estate Consumer Residential Total Allowance for Credit Losses: Beginning Balance $ 2,001 $ 3,550 $ 868 $ 737 $ 7,156 Charge-Offs (54) - (10) - (64) Recoveries 4 3 6 1 14 Provision 127 (81) (34) (12) - Ending Balance 2,078 3,472 830 726 7,106 Ending Balance: Individually evaluated for impairment - - - - - Ending Balance: Collectively evaluated for impairment 2,078 3,472 830 726 7,106 Totals: $ 2,078 $ 3,472 $ 830 $ 726 $ 7,106 Financing Receivables: Ending Balance: Individually evaluated for impairment 277 2,739 223 1,339 4,578 Ending Balance: Collectively evaluated for impairment 154,958 309,087 90,273 54,695 609,013 Totals: $ 155,235 $ 311,826 $ 90,496 $ 56,034 $ 613,591 Note 8 – Loans, allowance for loan losses and OREO (continued) Allowance for Loan Losses and Recorded Investment in Loans (dollars in thousands) As of and For the Year Ended December 31, 2020 Commercial 2020 Commercial Real Estate Consumer Residential Total Allowance for Credit Losses: Beginning Balance $ 1,330 $ 1,932 $ 865 $ 702 $ 4,829 Charge-Offs (96) (224) (75) (53) (448) Recoveries 20 139 53 15 227 Provision 747 1,703 25 73 2,548 Ending Balance 2,001 3,550 868 737 7,156 Ending Balance: Individually evaluated for impairment 4 - - - 4 Ending Balance: Collectively evaluated for impairment 1,997 3,550 868 737 7,152 Totals: $ 2,001 $ 3,550 $ 868 $ 737 $ 7,156 Financing Receivables: Ending Balance: Individually evaluated for impairment 345 2,782 343 1,347 4,817 Ending Balance: Collectively evaluated for impairment 144,800 306,781 92,001 60,691 604,273 Totals: $ 145,145 $ 309,563 $ 92,344 $ 62,038 $ 609,090 Note 8 – Loans, allowance for loan losses and OREO (continued) Age Analysis of Past Due Loans as of March 31, 2021 ( dollars in thousands ) Greater Recorded Investment 30-59 Days 60-89 Days than Total Past Total > 90 Days & 2021 Past Due Past Due 90 Days Due Current Loans Accruing Commercial $ - $31 $ - $31 $155,204 $155,235 $ - Commercial Real Estate: Commercial Mortgages- Owner Occupied 108 - 633 741 108,933 109,674 - Commercial Mortgages-Non-Owner Occupied 100 - 627 727 169,722 170,449 - Commercial Construction - - - - 31,703 31,703 - Consumer: Consumer Unsecured 63 - - 63 3,722 3,785 - Consumer Secured 201 6 49 256 86,455 86,711 - Residential: Residential Mortgages 264 68 207 539 42,315 42,854 - Residential Consumer Construction - - - - 13,180 13,180 - Total $736 $105 $1,516 $2,357 $611,234 $613,591 $ - Age Analysis of Past Due Loans as of December 31, 2020 ( dollars in thousands ) Greater Recorded Investment 30-59 Days 60-89 Days than Total Past Total > 90 Days & 2020 Past Due Past Due 90 Days Due Current Loans Accruing Commercial $157 $ - $ - $157 $144,988 $145,145 $ - Commercial Real Estate: Commercial Mortgages-Owner Occupied 38 - 842 880 107,342 108,222 - Commercial Mortgages-Non-Owner Occupied 252 116 394 762 170,307 171,069 - Commercial Construction - - - - 30,272 30,272 - Consumer: Consumer Unsecured 7 - - 7 3,764 3,771 - Consumer Secured 309 27 229 565 88,008 88,573 - Residential: Residential Mortgages 575 243 210 1,028 45,868 46,896 - Residential Consumer Construction - - - - 15,142 15,142 - Total $1,338 $386 $1,675 $3,399 $605,691 $609,090 $ - Note 8 – Loans, allowance for loan losses and OREO (continued) Credit Quality Information - by Class March 31, 2021 ( dollars in thousands ) 2021 Pass Monitor Special Substandard Doubtful Totals Mention Commercial $143,337 $4,530 $7,050 $318 $ - $155,235 Commercial Real Estate: Commercial Mortgages -Owner Occupied 99,739 3,406 4,424 2,105 - 109,674 Commercial Mortgages-Non-Owner Occupied 161,407 7,213 1,028 801 - 170,449 Commercial Construction 31,703 - - - - 31,703 Consumer Consumer Unsecured 3,758 - 26 1 - 3,785 Consumer Secured 86,363 - - 348 - 86,711 Residential: Residential Mortgages 41,408 - - 1,446 - 42,854 Residential Consumer Construction 13,180 - - - - 13,180 Totals $580,895 $15,149 $12,528 $5,019 $ - $613,591 Credit Quality Information - by Class December 31, 2020 ( dollars in thousands ) 2020 Pass Monitor Special Substandard Doubtful Totals Mention Commercial $133,075 $4,332 $7,386 $352 $ - $145,145 Commercial Real Estate: Commercial Mortgages-Owner Occupied 98,623 3,028 4,428 2,143 - 108,222 Commercial Mortgages-Non -Owner Occupied 161,300 7,277 1,682 810 - 171,069 Commercial Construction 30,272 - - - - 30,272 Consumer Consumer Unsecured 3,740 - 30 1 - 3,771 Consumer Secured 88,044 - - 529 - 88,573 Residential: Residential Mortgages 45,441 - - 1,455 - 46,896 Residential Consumer Construction 15,142 - - - - 15,142 Totals $575,637 $14,637 $13,526 $5,290 $ - $609,090 Note 8 – Loans, allowance for loan losses and OREO (continued) Troubled Debt Restructurings (TDR) There were no loan modifications that would have been classified as TDRs during the three months ended March 31, 2021 and 20 20 . There were no loan modifications classified as TDRs within the last twelve months that defaulted during the three months ended March 31, 2021 and 20 20 . At March 31, 2021 and December 31, 20 20 , the Bank had no outstanding commitments to disburse additional funds on loans classified as TDRs. We have developed relief programs to assist borrowers in financial need due to the effects of the COVID-19 pandemic. Accordingly, we offered short-term modifications made in response to COVID-19 to certain borrowers who were current and otherwise not past due. These include short-term, 180 days or less, modifications in the form of payment deferrals, fee waivers, extensions of repayment terms, deferral of principal only (interest only payments), or other delays in payment that are insignificant. Since the beginning of the pandemic in the spring of 2020, the Bank has modified a total of 191 loans. The principal balances of these loans on March 31, 2021 (adjusted for payoffs) totaled approximately $90 million. As of March 31, 2020, 5 of the 191 previously modified loans remain in deferment. The principal balance of these 5 loans is approximately $6.12 million, which represents 1.00% of the total loan portfolio. Of the total deferrals, all 5 loans are for deferrals of principal only. There are no loans for which principal and interested are being deferred. If a customer requests a second modification, an extensive evaluation of the circumstances surrounding the need for the request is conducted. Procedurally, a commercial borrower will be required to present financial forecasts, proof of business sustainability, and verification of sources of repayment to the primary loan officer, the Chief Lending Officer, and the Chief Credit Officer before a second deferral is granted. Retail borrowers are also required to submit in writing the reason for the need for a second deferral request before an additional deferral is granted. Relationships whose situations do not warrant a second deferral will most likely be downgraded and subsequently evaluated for specific impairment within the allowance for loan loss. We are not currently evaluating any relationships, for additional deferrals. In accordance with provisions of Section 4013 of the CARES Act (March 2020) and the Joint Interagency Regulatory Guidance (March 2020, revised April 2020), the above modifications were not considered to be TDRs. The CARES Act addressed COVID-19 related modifications and specified that COVID-19 related modifications on loans that were current as of December 31, 2019 are not TDRs. The Interagency Guidance encouraged financial institutions to work prudently with borrowers that may be unable to meet their contractual obligations because of the effects of COVID-19 and explained that in consultation with the Financial Accounting Standards Board (FASB) staff, the federal banking agencies concluded that short-term modifications (e.g. six months or less) made on a good faith basis to borrowers who were current as of the implementation date of a relief program and not TDRs. In December 2020, the Consolidated Appropriations Act extended the peri od established by Section 4013 o f the CARES Act for providing temporary relief from TDR classification to the Note 8 - Loans and allowance for loan losses (continued) earlier of January 1, 2022 or 60 days after the date when the national emergency concerning COVID-19 terminates. |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Mar. 31, 2021 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | Note 9 – Revenue Recognition Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. Topic 606 is applicable to noninterest revenue streams such as deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. Noninterest revenue streams in-scope of Topic 606 are discussed below. Service Charges on Deposit Accounts Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or at the end of the month through a direct charge to customers’ accounts. Fees, Exchange, and Other Service Charges Fees, exchange, and other service charges are primarily comprised of debit and credit card income, ATM fees, merchant services income, treasury services income and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Treasury services income primarily represents fees charged to customers for sweep, positive pay and lockbox services. Other service charges include revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or at the end of the month. Other Other noninterest income consists of other recurring revenue streams such as commissions from sales of mutual funds and other investments, safety deposit box rental fees, and other miscellaneous revenue streams. Commissions from the sale of mutual funds and other investments are recognized on trade date, which is when the Company has satisfied its performance obligation. The Company also receives periodic service fees (i.e., trailers) from mutual fund companies typically based on a percentage of net asset value. Trailer revenue is recorded over time, usually monthly or quarterly, as net asset value is determined. Safe deposit Note 9 – Revenue Recognition (continued) box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements And Other Authoritative Guidance | 3 Months Ended |
Mar. 31, 2021 | |
Recent Accounting Pronouncements And Other Authoritative Guidance [Abstract] | |
Recent Accounting Pronouncements And Other Authoritative Guidance | Note 10 – Recent accounting pronouncements and other authoritative guidance In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available- for-sale debt securities and purchased financial assets with credit deterioration. The FASB has issued multiple updates to ASU 2016-13 as codified in Topic 326, including ASU’s 2019-04, 2019-05, 2019-10, 2019-11, 2020-02, and 2020-03. These ASU’s have provided for various minor technical corrections and improvements to the codification as well as other transition matters. Smaller reporting companies who file with the U.S. Securities and Exchange Commission (SEC) and all other entities who do not file with the SEC are required to apply the guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company is currently assessing the impact that ASU 2016-13 will have on its consolidated financial statements. The Company has been in discussions with its core processor to coordinate plans for implementation and has contracted with an additional vendor to begin implementation. Effective November 25, 2019, the SEC adopted Staff Accounting Bulletin (SAB) 119. SAB 119 updated portions of SEC interpretative guidance to align with FASB ASC 326, “Financial Instruments – Credit Losses.” It covers topics including (1) measuring current expected credit losses; (2) development, governance, and documentation of a systematic methodology; (3) documenting the results of a systematic methodology; and (4) validating a systematic methodology. Note 10 – Recent accounting pronouncements and other authoritative guidance (continued ) In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022The Company has identified a small number of affected loans and is evaluating other benchmarks to substitute for LIBOR such as SOFR. The Company is assessing ASU 2020-04 and its impact on the Company’s transition away from LIBOR for its loan and other financial instruments. In October 2020, the FASB issued ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable fees and Other Costs.” This ASU clarifies that an entity should reevaluate whether a callable debt security is within the scope of ASC paragraph 310-20-35-33 for each reporting period. For public business entities, the ASU is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is not permitted. All entities should apply ASU No. 2020-08 on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities. The Company does not expect the adoption of ASU 2020-08 to have a material impact on its consolidated financial statements. In March 2020 (Revised in April 2020), various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, (“the agencies”) issued an interagency statement on loan modifications and reporting for financial institutions working with customers affected by the Coronavirus. The interagency statement was effective immediately and impacted accounting for loan modifications. Under Accounting Standards Codification 310-40, “Receivables – Troubled Debt Restructurings by Creditors,” (“ASC 310-40”), a restructuring of debt constitutes a troubled debt restructuring (“TDR”) if the creditor, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. The agencies confirmed with the staff of the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not to be considered TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, Note 10 – Recent accounting pronouncements and other authoritative guidance (continued ) extensions of repayment terms, or other delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented. In addition, upon expiration of the initial loan modification period, the Bank, pursuant to the “Joint Statement on Additional Loan Accommodations Related to COVID-19” published August 3, 2020, is encouraged to continue to work with effected borrowers on additional loan modifications. This interagency guidance is expected to continue have a material impact on the Company’s financial statements; however, this impact cannot be quantified at this time. |
COVID-19 And Current Economic C
COVID-19 And Current Economic Conditions | 3 Months Ended |
Mar. 31, 2021 | |
COVID-19 And Current Economic Conditions [Abstract] | |
COVID-19 And Current Economic Conditions | Note 11 - COVID-19 and Current Economic Conditions On March 11, 2020, the World Health Organization announced that the COVID-19 outbreak was deemed a pandemic, and on March 13, 2020, the President declared the ongoing COVID-19 pandemic of sufficient magnitude to warrant an emergency declaration. The extent of COVID-19's effect on the Company's operational and financial performance will depend on future developments, including the duration, spread and intensity of the pandemic, and when state and local economies will return to operational norms, all of which are uncertain and difficult to predict considering the rapidly evolving landscape. In addition, we rely upon our third-party vendors to conduct business and to process, record and monitor transactions. If any of these vendors are unable to continue to provide us with these services, it could negatively impact our ability to serve our customers. Furthermore, the outbreak could negatively impact our employees and customers' ability to engage in banking and other financial transactions. We also could be adversely affected if key personnel or a significant number of employees were to become unavailable due to the effects and restrictions of a COVID-19 outbreak in our market areas. Management will continue to evaluate current economic conditions to determine the impact of the pandemic on the ability of our customers to fulfill their financial obligations to the Company, as well as the values of our financial and nonfinancial assets resulting from the market disruption. Accordingly, significant estimates used in the preparation of our financial statements including those associated with the evaluation of the allowance for loan losses as well as other valuation-based estimates may be subject to significant adjustments in future periods. As the full effects are not yet known, it is not currently possible to ascertain the overall impact of COVID- 19 on the Company's business. However, as the pandemic continues to evolve into a prolonged worldwide health crisis, the pandemic could have a material adverse effect on the Company's business, results of operations, financial condition and cash flows. |
Capital Notes
Capital Notes | 3 Months Ended |
Mar. 31, 2021 | |
Capital Notes [Abstract] | |
Capital Notes | Note 12 – Capital Notes On April 13, 2020, the Company commenced a private placement of unregistered debt securities (the “2020 Offering”). In the 2020 Offering, the Company sold and closed $10,050,000 in principal of notes (the “2020 Notes”) during the 2 nd and 3 rd quarters of 2020. The 2020 Offering officially ended on July 8, 2020. The 2020 Notes will bear interest at the rate of 3.25% per year with interest payable quarterly in arrears. The 2020 Notes will mature on September 30, 2025 and are subject to full or partial repayment on or after September 30, 2021 . The balance of the 2020 Notes on the March 31, 2021 consolidated balance sheet is net of unamortized issuance costs . Note 12 – Capital Notes (continued) On September 24, 2020 the Bank used $5,000,000 of the proceeds for the payment of principal of the Company’s previously outstanding 4.00% notes that were issued in 2017. The Company intends to use the balance of the proceeds from the 2020 Offering for general corporate purposes in the discretion of Company’s management such as payment of interest on the 2020 Notes and as a contribution of additional capital to the Bank. |
Earnings Per Common Share (EP_2
Earnings Per Common Share (EPS) (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Common Share (EPS) [Abstract] | |
Earnings Per Share | Three Months Ended March 31, 2021 2020 Net income $ 1,835,000 $ 995,000 Weighted average number of shares 4,333,274 4,348,040 Restricted stock units/stock options affect of incremental shares - - Weighted average diluted shares 4,333,274 4,348,040 Basic EPS (weighted avg shares) $ 0.42 $ 0.23 Diluted EPS (Including incremental shares) $ 0.42 $ 0.23 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Assets Measured On Recurring Basis | Carrying Value at March 31, 2021 (in thousands) Description Balance as of March 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) US Treasuries $2,022 $ - $2,022 $ - US agency obligations 46,751 - 46,751 - Mortgage-backed securities 16,488 - 16,488 - Municipals 28,250 - 28,250 - Corporates 6,321 - 6,321 - Total available-for-sale securities $99,832 $ - $99,832 $ - IRLCs - asset 262 - - 262 Total assets at fair value $100,094 $ - $99,832 $262 Carrying Value at December 31, 2020 (in thousands) Description Balance as of December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) US Treasuries $2,027 $ - $2,027 $ - US agency obligations 41,320 - 41,320 - Mortgage-backed securities 15,696 - 15,696 - Municipals 24,773 - 24,773 - Corporates 6,369 - 6,369 - Total available-for-sale securities $90,185 $ - $90,185 $ - IRLCs – asset 425 - - 425 Total assets at fair value $90,610 $ - $90,185 $425 |
Impaired Loans And Other Real Estate Owned Measured At Fair Value On A Nonrecurring Basis | Carrying Value at March 31, 2021 Description Balance as of March 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans* $1,842 $ - $ - $1,842 Other real estate owned 761 - - 761 * Includes loans charged down to the net realizable value of the collateral. Carrying Value at December 31, 2020 Description Balance as of December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans* $1,829 $ - $ - $1,829 Other real estate owned 1,105 - - 1,105 * Includes loans charged down to the net realizable value of the collateral. |
Fair Value Carrying And Notional Amounts | Fair Value Measurements at March 31, 2021 using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Assets Amounts (Level 1) (Level 2) (Level 3) Balance Cash and due from banks $33,725 $33,725 $ - $ - $33,725 Fed funds sold 90,325 90,325 - - 90,325 Securities Available-for-sale 99,832 - 99,832 - 99,832 Held-to-maturity 3,667 - 3,948 - 3,948 Restricted stock 1,551 1,551 - 1,551 Loans, net (1) 606,485 - - 614,956 614,956 Loans held for sale 4,150 - 4,150 - 4,150 Interest receivable 303 - 303 - 303 BOLI 16,453 - 16,453 - 16,453 Derivatives - IRLCs 262 - - 262 262 Liabilities Deposits $801,190 $ - $802,071 $ - $802,071 Capital notes 10,029 - 9,058 - 9,058 Interest payable 64 - 64 - 64 Fair Value Measurements at December 31, 2020 using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Assets Amounts (Level 1) (Level 2) (Level 3) Balance Cash and due from banks $31,683 $31,683 $ - $ - $31,683 Fed funds sold 69,203 69,203 - - 69,203 Securities Available-for-sale 90,185 - 90,185 - 90,185 Held-to-maturity 3,671 - 4,192 - 4,192 Restricted stock 1,551 - 1,551 - 1,551 Loans, net 601,934 - - 598,745 598,745 Loans held for sale 7,102 - 7,102 - 7,102 Interest receivable 2,350 - 2,350 - 2,350 BOLI 16,355 - 16,355 - 16,355 Derivatives - IRLCs 425 - - 425 425 Liabilities Deposits $764,967 $ - $766,212 $ - $766,212 Capital notes 10,027 - 9,003 - 9,003 Interest payable 85 - 85 - 85 (1) Carrying amount is net of unearned income and the Allowance. |
Fair Value, Recurring [Member] | |
Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3 | Quantitative information about Level 3 Fair Value Measurements for March 31, 2021 (dollars in thousands) Fair Value Valuation Te chnique(s) Unobservable Input Range (Weighted Average) (1) Assets IRLCs - asset $262 Market approach Range of pull through rate 70% - 100% ( 85% ) (1) Weighted based on the relative value of the instruments Quantitative information about Level 3 Fair Value Measurements for December 31, 2020 (dollars in thousands) Fair Value Valuation Te chnique(s) Unobservable Input Range (Weighted Average) (1) Assets IRLCs - asset $425 Market approach Range of pull through rate 70% - 100% ( 85% ) (1) Weighted based on the relative value of the instruments |
Fair Value, Nonrecurring [Member] | |
Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3 | Quantitative information about Level 3 Fair Value Measurements for March 31, 2021 (dollars in thousands) Fair Value Valuation Te chnique(s) Unobservable Input Range (Weighted Average) (1) Assets Impaired loans $1,842 Discounted appraised value Selling cost 0 % - 10 % ( 8 %) Discount for lack of marketability and age of appraisal 0 % - 20 % ( 6 %) OREO 761 Discounted appraised value Selling cost 10% Discount for lack of marketability and age of appraisal 0 % - 25 % ( 15 %) (1) Weighted based on the relative value of the instruments. Note 5 – Fair Value Measurements (continued) Quantitative information about Level 3 Fair Value Measurements for December 31, 2020 (dollars in thousands) Fair Value Valuation Te chnique(s) Unobservable Input Range (Weighted Average) (1) Assets Impaired loans $1,829 Discounted appraised value Selling cost 0% - 10% ( 8% ) Discount for lack of marketability and age of appraisal 0% - 20% ( 6% ) OREO 1,105 Discounted appraised value Selling cost 10% Discount for lack of marketability and age of appraisal 0% - 25% ( 15% ) (1) Weighted based on the relative value of the instruments. |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Securities [Abstract] | |
Summary Of Securities Held-To-Maturity And Securities Available-For-Sale | March 31, 2021 Amortized Gross Unrealized Fair Value Costs Gains (Losses) Held-to-Maturity US agency obligations $3,667 $281 $ - $3,948 Available-for-Sale US Treasuries 2,000 22 - 2,022 US agency obligations 47,427 649 (1,325) 46,751 Mortgage-backed securities 16,646 149 (307) 16,488 Municipals 28,864 336 (950) 28,250 Corporates 6,066 255 - 6,321 $101,003 $1,411 $(2,582) $99,832 December 31, 20 20 Amortized Gross Unrealized Fair Value Costs Gains (Losses) Held-to-Maturity US agency obligations $3,671 $521 $ - $4,192 Available-for-Sale US Treasuries $2,000 $27 $ - $2,027 US agency obligations 40,111 1,544 (335) 41,320 Mortgage-backed securities 15,461 241 (6) 15,696 Municipals 24,275 594 (96) 24,773 Corporates 6,070 299 - 6,369 $87,917 $2,705 $(437) $90,185 |
Gross Unrealized Losses And Fair Value Of The Bank's Investments | Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2021 Value Losses Value Losses Value Losses Description of securities Held-to-maturity US agency obligations $ - $ - $ - $ - $ - $ - Available-for-sale US Treasuries - - - - - - US agency obligations 25,166 1,325 - - 25,166 1,325 Mortgage-backed securities 10,750 307 - - 10,750 307 Municipals 17,178 950 - - 17,178 950 Corporates - - - - - - Total $53,094 $2,582 $ - $ - $53,094 $2,582 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2020 Value Losses Value Losses Value Losses Description of securities Held-to-maturity US agency obligations $ - $ - $ - $ - $ - $ - Available-for-sale US Treasuries - - - - - - US agency obligations 15,808 335 - - 15,808 335 Mortgage-backed securities 8,201 6 - - 8,201 6 Municipals 8,202 96 - - 8,202 96 Corporates - - - - - - Total $32,211 $437 $ - $ - $32,211 $437 |
Business Segments (Tables)
Business Segments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Business Segments [Abstract] | |
Schedule Of Segment Reporting Information, By Segment | Business Segments Community Banking Mortgage Total For the three months ended March 31, 2021 Net interest income $ 6,748 $ - $ 6,748 Provision for loan losses - - - Net interest income after provision for loan losses 6,748 - 6,748 Noninterest income 660 1,774 2,434 Noninterest expenses 5,504 1,385 6,889 Income before income taxes 1,904 389 2,293 Income tax expense 376 82 458 Net income $ 1,528 $ 307 $ 1,835 Total assets $ 881,535 $ 4,825 $ 886,360 For the three months ended March 31, 2020 Net interest income $ 6,136 $ - $ 6,136 Provision for loan losses 888 - 888 Net interest income after provision for loan losses 5,248 - 5,248 Noninterest income 1,009 1,177 2,186 Noninterest expenses 5,340 857 6,197 Income before income taxes 917 320 1,237 Income tax expense 175 67 242 Net income $ 742 $ 253 $ 995 Total assets $ 739,651 $ 6,404 $ 746,055 |
Loans And Allowance For Loan Lo
Loans And Allowance For Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Loans, Allowance For Loan Losses And OREO [Abstract] | |
Summary Of Loans, Net | As of: March 31 , December 31, 202 1 20 20 Com mercial $155,235 $145,145 Commercial real estate 311,826 309,563 Consumer 90,496 92,344 Residential 56,034 62,038 Total loans (1) 613,591 609,090 Less allowance for loan losses 7,106 7,156 Net loans $606,485 $601,934 (1) Includes net deferred (fees ) of ($716) and ($ 18) as of March 31, 2021 and December 31, 20 20 , respectively. |
Loans On Non-Accrual Status | Loans on Non-Accrual Status ( dollars in thousands ) As of March 31, 2021 December 31, 20 20 Com mercial $117 $121 Commercial Real Estate: Commercial Mortgages-Owner Occupied 911 940 Commercial Mortgages-Non-Owner Occupied 668 552 Commercial Construction - - Consumer Consumer Unsecured - - Consumer Secured 60 240 Residential: Residential Mortgages 207 210 Residential Consumer Construction - - Totals $1,963 $2,063 |
Changes In OREO Balance | OREO Changes ( dollars in thousands ) Three Months Ended Year Ended March 31, 2021 December 31, 20 20 Balance at the beginning of the year (net) $1,105 $2,339 Transfers from loans 66 18 Capitalized costs - - Valuation adjustments - (437) Sales proceeds (344) (844) Gain (loss) on disposition (66) 29 Balance at the end of the period (net) $761 $1,105 |
Impaired Loans | Impaired Loans (dollars in thousands) As of and For the Three Months Ended March 31, 2021 Unpaid Average Interest Recorded Principal Related Recorded Income 2021 Investment Balance Allowance Investment Recognized With No Related Allowance Recorded: Commercial $ 277 $ 327 $ - $ 309 $ 6 Commercial Real Estate Commercial Mortgages-Owner Occupied 2,105 2,461 - 2,124 41 Commercial Mortgage Non-Owner Occupied 634 685 - 637 4 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 223 223 - 283 4 Residential Residential Mortgages 1,339 1,409 - 1,343 12 Residential Consumer Construction - - - - - With an Allowance Recorded: Commercial $ - $ - $ - $ 2 $ - Commercial Real Estate Commercial Mortgages-Owner Occupied - - - - - Commercial Mortgage Non-Owner Occupied - - - - - Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured - - - - - Residential Residential Mortgages - - - - - Residential Consumer Construction - - - - - Totals: Commercial $ 277 $ 327 $ - $ 311 $ 6 Commercial Real Estate Commercial Mortgages-Owner Occupied 2,105 2,461 - 2,124 41 Commercial Mortgage Non-Owner Occupied 634 685 - 637 4 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 223 223 - 283 4 Residential Residential Mortgages 1,339 1,409 - 1,343 12 Residential Consumer Construction - - - - - $ 4,578 $ 5,105 $ - $ 4,698 $ 67 Note 8 – Loans, allowance for loan losses and OREO (continued) Impaired Loans (dollars in thousands) As of and For the Year Ended December 31, 2020 Unpaid Average Interest Recorded Principal Related Recorded Income 2020 Investment Balance Allowance Investment Recognized With No Related Allowance Recorded: Commercial $ 341 $ 341 $ - $ 405 $ 30 Commercial Real Estate Commercial Mortgages-Owner Occupied 2,143 2,496 - 2,305 135 Commercial Mortgage Non-Owner Occupied 639 677 - 601 43 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 343 346 - 225 16 Residential Residential Mortgages 1,347 1,415 - 1,319 62 Residential Consumer Construction - - - - - With an Allowance Recorded: Commercial $ 4 $ 4 $ 4 $ 6 $ - Commercial Real Estate Commercial Mortgages-Owner Occupied - - - 6 - Commercial Mortgage Non-Owner Occupied - - - 7 - Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured - - - - - Residential Residential Mortgages - - - 70 - Residential Consumer Construction - - - - - Totals: Commercial $ 345 $ 345 $ 4 $ 411 $ 30 Commercial Real Estate Commercial Mortgages-Owner Occupied 2,143 2,496 - 2,311 135 Commercial Mortgage Non-Owner Occupied 639 677 - 608 43 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 343 346 - 225 16 Residential Residential Mortgages 1,347 1,415 - 1,389 62 Residential Consumer Construction - - - - - $ 4,817 $ 5,279 $ 4 $ 4,944 $ 286 |
Allowance For Loan Losses And Recorded Investment In Loans | Allowance for Loan Losses and Recorded Investment in Loans (dollars in thousands) As of and For the Three Months Ended March 31, 2021 Commercial 2021 Commercial Real Estate Consumer Residential Total Allowance for Credit Losses: Beginning Balance $ 2,001 $ 3,550 $ 868 $ 737 $ 7,156 Charge-Offs (54) - (10) - (64) Recoveries 4 3 6 1 14 Provision 127 (81) (34) (12) - Ending Balance 2,078 3,472 830 726 7,106 Ending Balance: Individually evaluated for impairment - - - - - Ending Balance: Collectively evaluated for impairment 2,078 3,472 830 726 7,106 Totals: $ 2,078 $ 3,472 $ 830 $ 726 $ 7,106 Financing Receivables: Ending Balance: Individually evaluated for impairment 277 2,739 223 1,339 4,578 Ending Balance: Collectively evaluated for impairment 154,958 309,087 90,273 54,695 609,013 Totals: $ 155,235 $ 311,826 $ 90,496 $ 56,034 $ 613,591 Note 8 – Loans, allowance for loan losses and OREO (continued) Allowance for Loan Losses and Recorded Investment in Loans (dollars in thousands) As of and For the Year Ended December 31, 2020 Commercial 2020 Commercial Real Estate Consumer Residential Total Allowance for Credit Losses: Beginning Balance $ 1,330 $ 1,932 $ 865 $ 702 $ 4,829 Charge-Offs (96) (224) (75) (53) (448) Recoveries 20 139 53 15 227 Provision 747 1,703 25 73 2,548 Ending Balance 2,001 3,550 868 737 7,156 Ending Balance: Individually evaluated for impairment 4 - - - 4 Ending Balance: Collectively evaluated for impairment 1,997 3,550 868 737 7,152 Totals: $ 2,001 $ 3,550 $ 868 $ 737 $ 7,156 Financing Receivables: Ending Balance: Individually evaluated for impairment 345 2,782 343 1,347 4,817 Ending Balance: Collectively evaluated for impairment 144,800 306,781 92,001 60,691 604,273 Totals: $ 145,145 $ 309,563 $ 92,344 $ 62,038 $ 609,090 |
Age Analysis Of Past Due Financing Receivables | Age Analysis of Past Due Loans as of March 31, 2021 ( dollars in thousands ) Greater Recorded Investment 30-59 Days 60-89 Days than Total Past Total > 90 Days & 2021 Past Due Past Due 90 Days Due Current Loans Accruing Commercial $ - $31 $ - $31 $155,204 $155,235 $ - Commercial Real Estate: Commercial Mortgages- Owner Occupied 108 - 633 741 108,933 109,674 - Commercial Mortgages-Non-Owner Occupied 100 - 627 727 169,722 170,449 - Commercial Construction - - - - 31,703 31,703 - Consumer: Consumer Unsecured 63 - - 63 3,722 3,785 - Consumer Secured 201 6 49 256 86,455 86,711 - Residential: Residential Mortgages 264 68 207 539 42,315 42,854 - Residential Consumer Construction - - - - 13,180 13,180 - Total $736 $105 $1,516 $2,357 $611,234 $613,591 $ - Age Analysis of Past Due Loans as of December 31, 2020 ( dollars in thousands ) Greater Recorded Investment 30-59 Days 60-89 Days than Total Past Total > 90 Days & 2020 Past Due Past Due 90 Days Due Current Loans Accruing Commercial $157 $ - $ - $157 $144,988 $145,145 $ - Commercial Real Estate: Commercial Mortgages-Owner Occupied 38 - 842 880 107,342 108,222 - Commercial Mortgages-Non-Owner Occupied 252 116 394 762 170,307 171,069 - Commercial Construction - - - - 30,272 30,272 - Consumer: Consumer Unsecured 7 - - 7 3,764 3,771 - Consumer Secured 309 27 229 565 88,008 88,573 - Residential: Residential Mortgages 575 243 210 1,028 45,868 46,896 - Residential Consumer Construction - - - - 15,142 15,142 - Total $1,338 $386 $1,675 $3,399 $605,691 $609,090 $ - |
Credit Quality Information-By Class | Credit Quality Information - by Class March 31, 2021 ( dollars in thousands ) 2021 Pass Monitor Special Substandard Doubtful Totals Mention Commercial $143,337 $4,530 $7,050 $318 $ - $155,235 Commercial Real Estate: Commercial Mortgages -Owner Occupied 99,739 3,406 4,424 2,105 - 109,674 Commercial Mortgages-Non-Owner Occupied 161,407 7,213 1,028 801 - 170,449 Commercial Construction 31,703 - - - - 31,703 Consumer Consumer Unsecured 3,758 - 26 1 - 3,785 Consumer Secured 86,363 - - 348 - 86,711 Residential: Residential Mortgages 41,408 - - 1,446 - 42,854 Residential Consumer Construction 13,180 - - - - 13,180 Totals $580,895 $15,149 $12,528 $5,019 $ - $613,591 Credit Quality Information - by Class December 31, 2020 ( dollars in thousands ) 2020 Pass Monitor Special Substandard Doubtful Totals Mention Commercial $133,075 $4,332 $7,386 $352 $ - $145,145 Commercial Real Estate: Commercial Mortgages-Owner Occupied 98,623 3,028 4,428 2,143 - 108,222 Commercial Mortgages-Non -Owner Occupied 161,300 7,277 1,682 810 - 171,069 Commercial Construction 30,272 - - - - 30,272 Consumer Consumer Unsecured 3,740 - 30 1 - 3,771 Consumer Secured 88,044 - - 529 - 88,573 Residential: Residential Mortgages 45,441 - - 1,455 - 46,896 Residential Consumer Construction 15,142 - - - - 15,142 Totals $575,637 $14,637 $13,526 $5,290 $ - $609,090 |
Basis Of Presentation (Narrativ
Basis Of Presentation (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2021item | |
Basis Of Presentation [Abstract] | |
Number of jurisdictions | 7 |
Earnings Per Common Share (EP_3
Earnings Per Common Share (EPS) (Narrative) (Details) shares in Millions | 12 Months Ended |
Dec. 31, 2020shares | |
Earnings Per Common Share (EPS) [Abstract] | |
Options excluded from calculating diluted EPS because their effect was anti-dilutive | 0 |
Earnings Per Common Share (EP_4
Earnings Per Common Share (EPS) (Earnings Per Share) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Earnings Per Common Share (EPS) [Abstract] | ||
Net income | $ 1,835,000 | $ 995,000 |
Weighted average number of shares | 4,333,274 | 4,348,040 |
Restricted stock units/stock options affect of incremental shares | ||
Weighted average diluted shares | 4,333,274 | 4,348,040 |
Basic EPS (weighted avg shares) | $ 0.42 | $ 0.23 |
Diluted EPS (Including incremental shares) | $ 0.42 | $ 0.23 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands | Jan. 02, 2019 | Mar. 31, 2021 | Mar. 31, 2020 | May 15, 2018 |
The 2018 Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares authorized | 250,000 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 24,500 | |||
Shares forfeited | 0 | |||
Vested period | 3 years | |||
Shares issued | 0 | |||
Stock based compensation expense | $ 27,000 | $ 27,000 | ||
Unrecognized stock based compensation expense | $ 80,000 | |||
Unrecognized expense period | 9 months | |||
Year One [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of shares vested | 33.30% |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Fair Value, Nonrecurring [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Loans held for sale, fair value adjustment | $ 0 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Assets Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | $ 99,832 | $ 90,185 |
IRLCs - asset | 262 | 425 |
Total assets at fair value | 100,094 | 90,610 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
IRLCs - asset | ||
Total assets at fair value | ||
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 99,832 | 90,185 |
IRLCs - asset | ||
Total assets at fair value | 99,832 | 90,185 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
IRLCs - asset | 262 | 425 |
Total assets at fair value | 262 | 425 |
US Treasuries [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 2,022 | 2,027 |
US Treasuries [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
US Treasuries [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 2,022 | 2,027 |
US Treasuries [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
US Agency Obligations [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 46,751 | 41,320 |
US Agency Obligations [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
US Agency Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 46,751 | 41,320 |
US Agency Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Mortgage-Backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 16,488 | 15,696 |
Mortgage-Backed Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Mortgage-Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 16,488 | 15,696 |
Mortgage-Backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Municipals [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 28,250 | 24,773 |
Municipals [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Municipals [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 28,250 | 24,773 |
Municipals [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Corporates [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 6,321 | 6,369 |
Corporates [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Corporates [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 6,321 | 6,369 |
Corporates [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value |
Fair Value Measurements (Inform
Fair Value Measurements (Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3 - Recurring) (Details) $ in Thousands | Mar. 31, 2021USD ($)item | Dec. 31, 2020USD ($)item | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Assets, Fair Value | $ | $ 100,094 | $ 90,610 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Assets, Fair Value | $ | 262 | 425 | |
IRLCs - Asset [Member] | Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Range Of Pull Through Rate [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Assets, Fair Value | $ | $ 262 | $ 425 | |
IRLCs - Asset [Member] | Fair Value, Recurring [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Range Of Pull Through Rate [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Derivative Asset, Measurement Input | item | [1] | 70 | 70 |
IRLCs - Asset [Member] | Fair Value, Recurring [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Range Of Pull Through Rate [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Derivative Asset, Measurement Input | item | [1] | 100 | 100 |
IRLCs - Asset [Member] | Fair Value, Recurring [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Range Of Pull Through Rate [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Derivative Asset, Measurement Input | item | [1] | 85 | 85 |
[1] | Weighted based on the relative value of the instruments. |
Fair Value Measurements (Impair
Fair Value Measurements (Impaired Loans And Other Real Estate Owned Measured At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Impaired loans | [1] | $ 1,842 | $ 1,829 | |
Other real estate owned | 761 | 1,105 | $ 2,339 | |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Impaired loans | [1] | |||
Other real estate owned | ||||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Impaired loans | [1] | 1,842 | 1,829 | |
Other real estate owned | $ 761 | $ 1,105 | ||
[1] | Includes loans charged down to the net realizable value of the collateral. |
Fair Value Measurements (Info_2
Fair Value Measurements (Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3 - Nonrecurring) (Details) $ in Thousands | Mar. 31, 2021USD ($)item | Dec. 31, 2020USD ($)item | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Assets, Fair Value | $ | $ 100,094 | $ 90,610 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Assets, Fair Value | $ | 262 | $ 425 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Assets, Fair Value | $ | $ 1,842 | ||
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Minimum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Selling Cost [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Impaired loans | [1] | 0 | 0 |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Minimum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Impaired loans | [1] | 0 | 0 |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Maximum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Selling Cost [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Impaired loans | [1] | 10 | 10 |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Maximum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Impaired loans | [1] | 20 | 20 |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Weighted Average [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Selling Cost [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Impaired loans | [1] | 8 | 8 |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Weighted Average [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Impaired loans | [1] | 6 | 6 |
Fair Value, Nonrecurring [Member] | OREO [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Assets, Fair Value | $ | $ 761 | $ 1,105 | |
Fair Value, Nonrecurring [Member] | OREO [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Selling Cost [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
OREO | [1] | 10 | 10 |
Fair Value, Nonrecurring [Member] | OREO [Member] | Minimum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
OREO | [1] | 0 | 0 |
Fair Value, Nonrecurring [Member] | OREO [Member] | Maximum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
OREO | [1] | 25 | 25 |
Fair Value, Nonrecurring [Member] | OREO [Member] | Weighted Average [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
OREO | [1] | 15 | 15 |
[1] | Weighted based on the relative value of the instruments. |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Carrying And Notional Amounts) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | $ 33,725 | $ 31,683 | |
Fed funds sold | 90,325 | 69,203 | |
Available-for-sale Securities | 99,832 | 90,185 | |
Held-to-maturity Securities | 3,667 | 3,671 | |
Restricted stock | 1,551 | 1,551 | |
Loans held for sale | 4,150 | 7,102 | |
Interest receivable | 2,256 | 2,350 | |
BOLI | 16,453 | 16,355 | |
Derivatives - IRLCs | 262 | 425 | |
Interest payable | 64 | 85 | |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | 33,725 | 31,683 | |
Fed funds sold | 90,325 | 69,203 | |
Available-for-sale Securities | |||
Held-to-maturity Securities | |||
Restricted stock | |||
Loans, net | [1] | ||
Loans held for sale | |||
Interest receivable | |||
BOLI | |||
Derivatives - IRLCs | |||
Deposits | |||
Capital notes | |||
Interest payable | |||
Significant Other Observable Inputs (Level 2) [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | |||
Fed funds sold | |||
Available-for-sale Securities | 99,832 | 90,185 | |
Held-to-maturity Securities | 3,948 | 4,192 | |
Restricted stock | 1,551 | 1,551 | |
Loans, net | [1] | ||
Loans held for sale | 4,150 | 7,102 | |
Interest receivable | 303 | 2,350 | |
BOLI | 16,453 | 16,355 | |
Derivatives - IRLCs | |||
Deposits | 802,071 | 766,212 | |
Capital notes | 9,058 | 9,003 | |
Interest payable | 64 | 85 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | |||
Fed funds sold | |||
Available-for-sale Securities | |||
Held-to-maturity Securities | |||
Restricted stock | |||
Loans, net | [1] | 614,956 | 598,745 |
Loans held for sale | |||
Interest receivable | |||
BOLI | |||
Derivatives - IRLCs | 262 | 425 | |
Deposits | |||
Capital notes | |||
Interest payable | |||
Carrying Amounts [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | 33,725 | 31,683 | |
Fed funds sold | 90,325 | 69,203 | |
Available-for-sale Securities | 99,832 | 90,185 | |
Held-to-maturity Securities | 3,667 | 3,671 | |
Restricted stock | 1,551 | 1,551 | |
Loans, net | [1] | 606,485 | 601,934 |
Loans held for sale | 4,150 | 7,102 | |
Interest receivable | 303 | 2,350 | |
BOLI | 16,453 | 16,355 | |
Derivatives - IRLCs | 262 | 425 | |
Deposits | 801,190 | 764,967 | |
Capital notes | 10,029 | 10,027 | |
Interest payable | 64 | 85 | |
Fair Values [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | 33,725 | 31,683 | |
Fed funds sold | 90,325 | 69,203 | |
Available-for-sale Securities | 99,832 | 90,185 | |
Held-to-maturity Securities | 3,948 | 4,192 | |
Restricted stock | 1,551 | 1,551 | |
Loans, net | [1] | 614,956 | 598,745 |
Loans held for sale | 4,150 | 7,102 | |
Interest receivable | 303 | 2,350 | |
BOLI | 16,453 | 16,355 | |
Derivatives - IRLCs | 262 | 425 | |
Deposits | 802,071 | 766,212 | |
Capital notes | 9,058 | 9,003 | |
Interest payable | $ 64 | $ 85 | |
[1] | Carrying amount is net of unearned income and the Allowance. |
Securities (Narrative) (Details
Securities (Narrative) (Details) | 3 Months Ended | |
Mar. 31, 2021USD ($)security | Mar. 31, 2020USD ($) | |
Number Of Securities Evaluated For Other Than Temporary Impairment [Line Items] | ||
Securities evaluated for other than temporary impairment | 36 | |
Available-for-sale Securities, Gross Realized Gains | $ | $ 431,000 | |
Held-to-maturity securities sales | $ | $ 0 | |
Sales of available for sale securities | $ | $ 0 | $ 14,619,000 |
US Agency Obligations [Member] | ||
Number Of Securities Evaluated For Other Than Temporary Impairment [Line Items] | ||
Securities evaluated for other than temporary impairment | 16 | |
Municipals [Member] | ||
Number Of Securities Evaluated For Other Than Temporary Impairment [Line Items] | ||
Securities evaluated for other than temporary impairment | 20 | |
S&P Rated AAA [Member] | ||
Number Of Securities Evaluated For Other Than Temporary Impairment [Line Items] | ||
Securities evaluated for other than temporary impairment | 13 | |
S&P Rated AA [Member] | ||
Number Of Securities Evaluated For Other Than Temporary Impairment [Line Items] | ||
Securities evaluated for other than temporary impairment | 23 |
Securities (Summary Of Securiti
Securities (Summary Of Securities Held-To-Maturity And Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule Of Available-For-Sale Securities And Held-To-Maturity Securities [Line Items] | ||
Held-to-maturity | $ 3,667 | $ 3,671 |
Held-to-Maturity, Fair Value | 3,948 | 4,192 |
Available-for-Sale, Amortized Costs | 101,003 | 87,917 |
Available-for-Sale, Gross Unrealized Gains | 1,411 | 2,705 |
Available-for-Sale, Gross Unrealized Losses | (2,582) | (437) |
Available-for-sale, Fair Value | 99,832 | 90,185 |
US Treasuries [Member] | ||
Schedule Of Available-For-Sale Securities And Held-To-Maturity Securities [Line Items] | ||
Available-for-Sale, Amortized Costs | 2,000 | 2,000 |
Available-for-Sale, Gross Unrealized Gains | 22 | 27 |
Available-for-sale, Fair Value | 2,022 | 2,027 |
US Agency Obligations [Member] | ||
Schedule Of Available-For-Sale Securities And Held-To-Maturity Securities [Line Items] | ||
Held-to-maturity | 3,667 | 3,671 |
Held-to-maturity, Gross Unrealized Gains | 281 | 521 |
Held-to-Maturity, Fair Value | 3,948 | 4,192 |
Available-for-Sale, Amortized Costs | 47,427 | 40,111 |
Available-for-Sale, Gross Unrealized Gains | 649 | 1,544 |
Available-for-Sale, Gross Unrealized Losses | (1,325) | (335) |
Available-for-sale, Fair Value | 46,751 | 41,320 |
Mortgage-Backed Securities [Member] | ||
Schedule Of Available-For-Sale Securities And Held-To-Maturity Securities [Line Items] | ||
Available-for-Sale, Amortized Costs | 16,646 | 15,461 |
Available-for-Sale, Gross Unrealized Gains | 149 | 241 |
Available-for-Sale, Gross Unrealized Losses | (307) | (6) |
Available-for-sale, Fair Value | 16,488 | 15,696 |
Municipals [Member] | ||
Schedule Of Available-For-Sale Securities And Held-To-Maturity Securities [Line Items] | ||
Available-for-Sale, Amortized Costs | 28,864 | 24,275 |
Available-for-Sale, Gross Unrealized Gains | 336 | 594 |
Available-for-Sale, Gross Unrealized Losses | (950) | (96) |
Available-for-sale, Fair Value | 28,250 | 24,773 |
Corporates [Member] | ||
Schedule Of Available-For-Sale Securities And Held-To-Maturity Securities [Line Items] | ||
Available-for-Sale, Amortized Costs | 6,066 | 6,070 |
Available-for-Sale, Gross Unrealized Gains | 255 | 299 |
Available-for-sale, Fair Value | $ 6,321 | $ 6,369 |
Securities (Gross Unrealized Lo
Securities (Gross Unrealized Losses And Fair Value Of The Bank's Investments) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 months | $ 53,094 | $ 32,211 |
Unrealized Losses, Less than 12 months | 2,582 | 437 |
Fair Value, More than 12 months | ||
Unrealized Losses, More than 12 months | ||
Fair Value, Total | 53,094 | 32,211 |
Unrealized Losses, Total | 2,582 | 437 |
US Treasuries [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 months | ||
Unrealized Losses, Less than 12 months | ||
Fair Value, More than 12 months | ||
Unrealized Losses, More than 12 months | ||
Fair Value, Total | ||
Unrealized Losses, Total | ||
US Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 months, Held-to-maturity | ||
Unrealized Losses, Less than 12 months, Held-to-maturity | ||
Fair Value, More than 12 months, Held-to-maturity | ||
Unrealized Losses, More than 12 months, Held-to-maturity | ||
Fair Value, Total, Held-to-maturity | ||
Unrealized Losses, Total, Held-to-maturity | ||
Fair Value, Less than 12 months | 25,166 | 15,808 |
Unrealized Losses, Less than 12 months | 1,325 | 335 |
Fair Value, More than 12 months | ||
Unrealized Losses, More than 12 months | ||
Fair Value, Total | 25,166 | 15,808 |
Unrealized Losses, Total | 1,325 | 335 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 10,750 | 8,201 |
Unrealized Losses, Less than 12 months | 307 | 6 |
Fair Value, More than 12 months | ||
Unrealized Losses, More than 12 months | ||
Fair Value, Total | 10,750 | 8,201 |
Unrealized Losses, Total | 307 | 6 |
Municipals [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 17,178 | 8,202 |
Unrealized Losses, Less than 12 months | 950 | 96 |
Fair Value, More than 12 months | ||
Unrealized Losses, More than 12 months | ||
Fair Value, Total | 17,178 | 8,202 |
Unrealized Losses, Total | 950 | 96 |
Corporates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 months | ||
Unrealized Losses, Less than 12 months | ||
Fair Value, More than 12 months | ||
Unrealized Losses, More than 12 months | ||
Fair Value, Total | ||
Unrealized Losses, Total |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2021segment | |
Business Segments [Abstract] | |
Number of reportable segments | 2 |
Business Segments (Schedule Of
Business Segments (Schedule Of Segment Reporting Information, By Segment) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Net interest income | $ 6,748,000 | $ 6,136,000 | |
Provision for loan losses | 888,000 | $ 2,548,000 | |
Net interest income after provision for loan losses | 6,748,000 | 5,248,000 | |
Noninterest income | 2,434,000 | 2,186,000 | |
Noninterest expenses | 6,889,000 | 6,197,000 | |
Income before income taxes | 2,293,000 | 1,237,000 | |
Income tax expense | 458,000 | 242,000 | |
Net income | 1,835,000 | 995,000 | |
Total assets | 886,360,000 | 746,055,000 | $ 851,386,000 |
Community Banking [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 6,748,000 | 6,136,000 | |
Provision for loan losses | 888,000 | ||
Net interest income after provision for loan losses | 6,748,000 | 5,248,000 | |
Noninterest income | 660,000 | 1,009,000 | |
Noninterest expenses | 5,504,000 | 5,340,000 | |
Income before income taxes | 1,904,000 | 917,000 | |
Income tax expense | 376,000 | 175,000 | |
Net income | 1,528,000 | 742,000 | |
Total assets | 881,535,000 | 739,651,000 | |
Mortgage [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Noninterest income | 1,774,000 | 1,177,000 | |
Noninterest expenses | 1,385,000 | 857,000 | |
Income before income taxes | 389,000 | 320,000 | |
Income tax expense | 82,000 | 67,000 | |
Net income | 307,000 | 253,000 | |
Total assets | $ 4,825,000 | $ 6,404,000 |
Loans, Allowance For Loan Los_2
Loans, Allowance For Loan Losses And OREO (Narrative) (Details) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021USD ($)contractloanitem | Mar. 31, 2020contract | Dec. 31, 2020contractitem | |
Financing Receivable, Modifications [Line Items] | |||
Loan modifications that would have been classified as TDRs | contract | 0 | 0 | |
Loan modifications classified as TDRs | contract | 0 | 0 | |
Outstanding commitments to disburse additional funds on TDR's | contract | 0 | 0 | |
Consumer mortgage loan secured by residential real estate | $ | $ 0 | ||
Principal balance | $ | $ 90,000,000 | ||
Number of loans modified | 191 | ||
Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of real estate properties held | item | 0 | 0 | |
Modified Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Principal balance | $ | $ 6,120,000 | ||
Number of loans modified | 5 | ||
Modified Loans One [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans modified | 5 | ||
Modified Loans Two [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans modified | 0 | ||
Covid-19 [Member] | Loan Portfolio [Member] | Modified Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Percent of total loan portfolio | 1.00% |
Loans, Allowance For Loan Los_3
Loans, Allowance For Loan Losses And OREO (Summary Of Loans, Net) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | [1] | $ 613,591 | $ 609,090 |
Less allowance for loan losses | 7,106 | 7,156 | |
Net loans | 606,485 | 601,934 | |
Deferred loan costs | (716) | (18) | |
Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 155,235 | 145,145 | |
Less allowance for loan losses | 2,078 | 2,001 | |
Commercial Real Estate [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 311,826 | 309,563 | |
Less allowance for loan losses | 3,472 | 3,550 | |
Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 90,496 | 92,344 | |
Less allowance for loan losses | 830 | 868 | |
Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 56,034 | 62,038 | |
Less allowance for loan losses | $ 726 | $ 737 | |
[1] | Includes net deferred (fees) of ($716) and ($18) as of March 31, 2021 and December 31, 2020, respectively. |
Loans, Allowance For Loan Los_4
Loans, Allowance For Loan Losses And OREO (Loans On Non-Accrual Status) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status | $ 1,963 | $ 2,063 |
Commercial [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status | 117 | 121 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status | 911 | 940 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status | 668 | 552 |
Commercial Real Estate [Member] | Commercial Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status | ||
Consumer [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status | ||
Consumer [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status | 60 | 240 |
Residential [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status | 207 | 210 |
Residential [Member] | Residential Consumer Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivables on Non-Accrual Status |
Loans, Allowance For Loan Los_5
Loans, Allowance For Loan Losses And OREO (Changes In OREO Balance) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Loans, Allowance For Loan Losses And OREO [Abstract] | |||
Balance at the beginning of the year (net) | $ 1,105 | $ 2,339 | $ 2,339 |
Transfers from loans | 66 | 18 | 18 |
Valuation adjustments | (437) | ||
Sales proceeds | (344) | (844) | |
Gain (loss) on disposition | (66) | $ 6 | 29 |
Balance at the end of the period (net) | $ 761 | $ 1,105 |
Loans, Allowance For Loan Los_6
Loans, Allowance For Loan Losses And OREO (Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable, Impaired [Line Items] | ||
Totals: Recorded Investment | $ 4,578 | $ 4,817 |
Totals: Unpaid Principal Balance | 5,105 | 5,279 |
Totals: Related Allowance | 4 | |
Totals: Average Recorded Investment | 4,698 | 4,944 |
Totals: Interest Income Recognized | 67 | 286 |
Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowance Recorded: Recorded Investment | 277 | 341 |
With No Related Allowance Recorded: Unpaid Principal Balance | 327 | 341 |
With No Related Allowance Recorded: Average Recorded Investment | 309 | 405 |
With No Related Allowance Recorded: Interest Income Recognized | 6 | 30 |
With An Allowance Recorded: Recorded Investment | 4 | |
With An Allowance Recorded: Unpaid Principal Balance | 4 | |
With An Allowance Recorded: Average Recorded Investment | 2 | 6 |
Totals: Recorded Investment | 277 | 345 |
Totals: Unpaid Principal Balance | 327 | 345 |
Totals: Related Allowance | 4 | |
Totals: Average Recorded Investment | 311 | 411 |
Totals: Interest Income Recognized | 6 | 30 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowance Recorded: Recorded Investment | 2,105 | 2,143 |
With No Related Allowance Recorded: Unpaid Principal Balance | 2,461 | 2,496 |
With No Related Allowance Recorded: Average Recorded Investment | 2,124 | 2,305 |
With No Related Allowance Recorded: Interest Income Recognized | 41 | 135 |
With An Allowance Recorded: Average Recorded Investment | 6 | |
Totals: Recorded Investment | 2,105 | 2,143 |
Totals: Unpaid Principal Balance | 2,461 | 2,496 |
Totals: Average Recorded Investment | 2,124 | 2,311 |
Totals: Interest Income Recognized | 41 | 135 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowance Recorded: Recorded Investment | 634 | 639 |
With No Related Allowance Recorded: Unpaid Principal Balance | 685 | 677 |
With No Related Allowance Recorded: Average Recorded Investment | 637 | 601 |
With No Related Allowance Recorded: Interest Income Recognized | 4 | 43 |
With An Allowance Recorded: Average Recorded Investment | 7 | |
Totals: Recorded Investment | 634 | 639 |
Totals: Unpaid Principal Balance | 685 | 677 |
Totals: Average Recorded Investment | 637 | 608 |
Totals: Interest Income Recognized | 4 | 43 |
Consumer [Member] | Consumer Secured [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowance Recorded: Recorded Investment | 223 | 343 |
With No Related Allowance Recorded: Unpaid Principal Balance | 223 | 346 |
With No Related Allowance Recorded: Average Recorded Investment | 283 | 225 |
With No Related Allowance Recorded: Interest Income Recognized | 4 | 16 |
Totals: Recorded Investment | 223 | 343 |
Totals: Unpaid Principal Balance | 223 | 346 |
Totals: Average Recorded Investment | 283 | 225 |
Totals: Interest Income Recognized | 4 | 16 |
Residential [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Related Allowance Recorded: Recorded Investment | 1,339 | 1,347 |
With No Related Allowance Recorded: Unpaid Principal Balance | 1,409 | 1,415 |
With No Related Allowance Recorded: Average Recorded Investment | 1,343 | 1,319 |
With No Related Allowance Recorded: Interest Income Recognized | 12 | 62 |
With An Allowance Recorded: Average Recorded Investment | 70 | |
Totals: Recorded Investment | 1,339 | 1,347 |
Totals: Unpaid Principal Balance | 1,409 | 1,415 |
Totals: Average Recorded Investment | 1,343 | 1,389 |
Totals: Interest Income Recognized | $ 12 | $ 62 |
Loans, Allowance For Loan Los_7
Loans, Allowance For Loan Losses And OREO (Allowance For Loan Losses And Recorded Investment In Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Credit Losses: Beginning Balance | $ 7,156 | $ 4,829 | $ 4,829 | |
Allowance for Credit Losses: Charge-Offs | (64) | (448) | ||
Allowance for Credit Losses: Recoveries | 14 | 227 | ||
Allowance for credit losses: Provision | 888 | 2,548 | ||
Allowance for Credit Losses: Ending Balance | 7,106 | 7,156 | ||
Allowance for Credit Losses: Ending Balance: Individually evaluated for impairment | 4 | |||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 7,106 | 7,152 | ||
Allowance for Credit Losses: Totals | 7,106 | 7,156 | ||
Financing Receivables: Ending Balance: Individually evaluated for impairment | 4,578 | 4,817 | ||
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 609,013 | 604,273 | ||
Total loans | [1] | 613,591 | 609,090 | |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Credit Losses: Beginning Balance | 2,001 | 1,330 | 1,330 | |
Allowance for Credit Losses: Charge-Offs | (54) | (96) | ||
Allowance for Credit Losses: Recoveries | 4 | 20 | ||
Allowance for credit losses: Provision | 127 | 747 | ||
Allowance for Credit Losses: Ending Balance | 2,078 | 2,001 | ||
Allowance for Credit Losses: Ending Balance: Individually evaluated for impairment | 4 | |||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 2,078 | 1,997 | ||
Allowance for Credit Losses: Totals | 2,078 | 2,001 | ||
Financing Receivables: Ending Balance: Individually evaluated for impairment | 277 | 345 | ||
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 154,958 | 144,800 | ||
Total loans | 155,235 | 145,145 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Credit Losses: Beginning Balance | 3,550 | 1,932 | 1,932 | |
Allowance for Credit Losses: Charge-Offs | (224) | |||
Allowance for Credit Losses: Recoveries | 3 | 139 | ||
Allowance for credit losses: Provision | (81) | 1,703 | ||
Allowance for Credit Losses: Ending Balance | 3,472 | 3,550 | ||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 3,472 | 3,550 | ||
Allowance for Credit Losses: Totals | 3,472 | 3,550 | ||
Financing Receivables: Ending Balance: Individually evaluated for impairment | 2,739 | 2,782 | ||
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 309,087 | 306,781 | ||
Total loans | 311,826 | 309,563 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Credit Losses: Beginning Balance | 868 | 865 | 865 | |
Allowance for Credit Losses: Charge-Offs | (10) | (75) | ||
Allowance for Credit Losses: Recoveries | 6 | 53 | ||
Allowance for credit losses: Provision | (34) | 25 | ||
Allowance for Credit Losses: Ending Balance | 830 | 868 | ||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 830 | 868 | ||
Allowance for Credit Losses: Totals | 830 | 868 | ||
Financing Receivables: Ending Balance: Individually evaluated for impairment | 223 | 343 | ||
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 90,273 | 92,001 | ||
Total loans | 90,496 | 92,344 | ||
Residential [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Credit Losses: Beginning Balance | 737 | $ 702 | 702 | |
Allowance for Credit Losses: Charge-Offs | (53) | |||
Allowance for Credit Losses: Recoveries | 1 | 15 | ||
Allowance for credit losses: Provision | (12) | 73 | ||
Allowance for Credit Losses: Ending Balance | 726 | 737 | ||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 726 | 737 | ||
Allowance for Credit Losses: Totals | 726 | 737 | ||
Financing Receivables: Ending Balance: Individually evaluated for impairment | 1,339 | 1,347 | ||
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 54,695 | 60,691 | ||
Total loans | $ 56,034 | $ 62,038 | ||
[1] | Includes net deferred (fees) of ($716) and ($18) as of March 31, 2021 and December 31, 2020, respectively. |
Loans, Allowance For Loan Los_8
Loans, Allowance For Loan Losses And OREO (Age Analysis Of Past Due Financing Receivables) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | $ 2,357 | $ 3,399 | |
Current | 611,234 | 605,691 | |
Total loans | [1] | 613,591 | 609,090 |
Recorded Investment > 90 Days & Accruing | |||
30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 736 | 1,338 | |
60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 105 | 386 | |
Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,516 | 1,675 | |
Commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 31 | 157 | |
Current | 155,204 | 144,988 | |
Total loans | 155,235 | 145,145 | |
Recorded Investment > 90 Days & Accruing | |||
Commercial [Member] | 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 157 | ||
Commercial [Member] | 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 31 | ||
Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total loans | 311,826 | 309,563 | |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 741 | 880 | |
Current | 108,933 | 107,342 | |
Total loans | 109,674 | 108,222 | |
Recorded Investment > 90 Days & Accruing | |||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 727 | 762 | |
Current | 169,722 | 170,307 | |
Total loans | 170,449 | 171,069 | |
Recorded Investment > 90 Days & Accruing | |||
Commercial Real Estate [Member] | Commercial Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 31,703 | 30,272 | |
Total loans | 31,703 | 30,272 | |
Recorded Investment > 90 Days & Accruing | |||
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | Commercial Mortgages-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 108 | 38 | |
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 100 | 252 | |
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 116 | ||
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member] | Commercial Mortgages-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 633 | 842 | |
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 627 | 394 | |
Residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total loans | 56,034 | 62,038 | |
Residential [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 539 | 1,028 | |
Current | 42,315 | 45,868 | |
Total loans | 42,854 | 46,896 | |
Recorded Investment > 90 Days & Accruing | |||
Residential [Member] | Residential Consumer Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 13,180 | 15,142 | |
Total loans | 13,180 | 15,142 | |
Recorded Investment > 90 Days & Accruing | |||
Residential [Member] | 30 to 59 Days Past Due [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 264 | 575 | |
Residential [Member] | 60 to 89 Days Past Due [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 68 | 243 | |
Residential [Member] | Greater than 90 Days Past Due [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 207 | 210 | |
Consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total loans | 90,496 | 92,344 | |
Consumer [Member] | Consumer Unsecured [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 63 | 7 | |
Current | 3,722 | 3,764 | |
Total loans | 3,785 | 3,771 | |
Recorded Investment > 90 Days & Accruing | |||
Consumer [Member] | Consumer Secured [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 256 | 565 | |
Current | 86,455 | 88,008 | |
Total loans | 86,711 | 88,573 | |
Recorded Investment > 90 Days & Accruing | |||
Consumer [Member] | 30 to 59 Days Past Due [Member] | Consumer Unsecured [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 63 | 7 | |
Consumer [Member] | 30 to 59 Days Past Due [Member] | Consumer Secured [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 201 | 309 | |
Consumer [Member] | 60 to 89 Days Past Due [Member] | Consumer Secured [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 6 | 27 | |
Consumer [Member] | Greater than 90 Days Past Due [Member] | Consumer Secured [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | $ 49 | $ 229 | |
[1] | Includes net deferred (fees) of ($716) and ($18) as of March 31, 2021 and December 31, 2020, respectively. |
Loans, Allowance For Loan Los_9
Loans, Allowance For Loan Losses And OREO (Credit Quality Information-By Class) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | $ 613,591 | $ 609,090 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 580,895 | 575,637 |
Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 15,149 | 14,637 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 12,528 | 13,526 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 5,019 | 5,290 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | ||
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 155,235 | 145,145 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 143,337 | 133,075 |
Commercial [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 4,530 | 4,332 |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 7,050 | 7,386 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 318 | 352 |
Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | ||
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 109,674 | 108,222 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 99,739 | 98,623 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 3,406 | 3,028 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 4,424 | 4,428 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 2,105 | 2,143 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | ||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 170,449 | 171,069 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 161,407 | 161,300 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 7,213 | 7,277 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 1,028 | 1,682 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 801 | 810 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | ||
Commercial Real Estate [Member] | Commercial Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 31,703 | 30,272 |
Commercial Real Estate [Member] | Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 31,703 | 30,272 |
Commercial Real Estate [Member] | Commercial Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | ||
Consumer [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 3,785 | 3,771 |
Consumer [Member] | Consumer Unsecured [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 3,758 | 3,740 |
Consumer [Member] | Consumer Unsecured [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 26 | 30 |
Consumer [Member] | Consumer Unsecured [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 1 | 1 |
Consumer [Member] | Consumer Unsecured [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | ||
Consumer [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 86,711 | 88,573 |
Consumer [Member] | Consumer Secured [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 86,363 | 88,044 |
Consumer [Member] | Consumer Secured [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 348 | 529 |
Consumer [Member] | Consumer Secured [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | ||
Residential [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 42,854 | 46,896 |
Residential [Member] | Residential Mortgages [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 41,408 | 45,441 |
Residential [Member] | Residential Mortgages [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 1,446 | 1,455 |
Residential [Member] | Residential Mortgages [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | ||
Residential [Member] | Residential Consumer Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | 13,180 | 15,142 |
Residential [Member] | Residential Consumer Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables | $ 13,180 | 15,142 |
Residential [Member] | Residential Consumer Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivables |
Capital Notes (Narrative) (Deta
Capital Notes (Narrative) (Details) - USD ($) | Sep. 24, 2020 | Mar. 31, 2021 | Apr. 13, 2020 |
Capital Notes 4% Due 1/24/2022 [Member] | |||
Debt Instrument [Line Items] | |||
Capital notes, interest rate | 4.00% | ||
Proceeds used to pay off debt | $ 5,000,000 | ||
Capital Notes 3.25% Due 09/30/2025 [Member] | 2020 Offering [Member] | |||
Debt Instrument [Line Items] | |||
Capital notes, interest rate | 3.25% | ||
Capital notes, maturity date | Sep. 30, 2025 | ||
Principal notes | $ 10,050,000 | ||
Full or partial payment date | Sep. 30, 2021 |