Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2021shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 2021 |
Document Transition Report | false |
Entity File Number | 001-32590 |
Entity Registrant Name | COMMUNITY BANKERS TRUST CORP |
Entity Incorporation, State or Country Code | VA |
Entity Tax Identification Number | 20-2652949 |
Entity Address, Address Line One | 9954 Mayland Drive, Suite 2100 |
Entity Address, State or Province | VA |
Entity Address, City or Town | Richmond |
Entity Address, Postal Zip Code | 23233 |
City Area Code | 804 |
Local Phone Number | 934-9999 |
Title of 12(b) Security | Common Stock, $0.01 par value |
Trading Symbol | ESXB |
Security Exchange Name | NASDAQ |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 22,464,593 |
Entity Central Index Key | 0001323648 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 25,485 | $ 17,845 |
Interest bearing bank deposits | 23,591 | 45,118 |
Federal funds sold | 222 | |
Total cash and cash equivalents | 49,076 | 63,185 |
Securities available for sale, at fair value | 375,845 | 271,347 |
Securities held to maturity, at cost (fair value of $20,698 and $22,257, respectively) | 19,052 | 21,176 |
Equity securities, restricted, at cost | 8,049 | 8,436 |
Total securities | 402,946 | 300,959 |
Loans | 1,230,981 | 1,182,362 |
Purchased credit impaired (PCI) loans | 15,679 | 24,040 |
Total loans | 1,246,660 | 1,206,402 |
Allowance for loan losses (loans of $11,006 and $12,340, respectively; PCI loans of $156 and $156, respectively) | (10,085) | (12,496) |
Net loans | 1,236,575 | 1,193,906 |
Bank premises and equipment, net | 26,967 | 27,897 |
Bank premises and equipment held for sale | 1,507 | 1,507 |
Right-of-use lease assets | 4,811 | 5,530 |
Other real estate owned | 255 | 4,361 |
Bank owned life insurance | 30,528 | 30,029 |
Other assets | 18,635 | 17,435 |
Total assets | 1,771,300 | 1,644,809 |
Deposits: | ||
Noninterest bearing | 345,721 | 298,901 |
Interest bearing | 1,153,081 | 1,099,800 |
Total deposits | 1,498,802 | 1,398,701 |
Federal funds purchased | 2,698 | |
Federal Home Loan Bank borrowings | 67,333 | 57,833 |
Trust preferred capital notes | 4,124 | 4,124 |
Lease liabilities | 5,045 | 5,787 |
Other liabilities | 8,961 | 8,710 |
Total liabilities | 1,586,963 | 1,475,155 |
SHAREHOLDERS' EQUITY | ||
Common stock (200,000,000 shares authorized $0.01 par value; 22,451,463 and 22,220,929 shares issued and outstanding, respectively) | 225 | 222 |
Additional paid in capital | 151,905 | 149,822 |
Retained earnings | 27,787 | 13,419 |
Accumulated other comprehensive income | 4,420 | 6,191 |
Total shareholders' equity | 184,337 | 169,654 |
Total liabilities and shareholders' equity | $ 1,771,300 | $ 1,644,809 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
CONSOLIDATED BALANCE SHEETS | ||
Securities held to maturity | $ 19,844 | $ 22,257 |
Allowance for loan losses, loans | 9,929 | 12,340 |
Allowance for loan losses | $ 156 | $ 156 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares issued | 22,464,593 | 22,220,929 |
Common stock, shares outstanding | 22,464,593 | 22,200,929 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest and dividend income | ||||
Interest and fees on loans | $ 13,441,000 | $ 12,760,000 | $ 39,787,000 | $ 38,858,000 |
Interest and fees on PCI loans | 708,000 | 962,000 | 2,348,000 | 3,121,000 |
Interest on deposits in other banks | 59,000 | 121,000 | 173,000 | 231,000 |
Interest and dividends on securities | ||||
Taxable | 1,723,000 | 1,362,000 | 4,885,000 | 4,000,000 |
Nontaxable | 350,000 | 344,000 | 1,012,000 | 1,036,000 |
Total interest and dividend income | 16,281,000 | 15,549,000 | 48,205,000 | 47,246,000 |
Interest expense | ||||
Interest on deposits | 1,262,000 | 2,614,000 | 4,174,000 | 9,215,000 |
Interest on borrowed funds | 224,000 | 222,000 | 661,000 | 720,000 |
Total interest expense | 1,486,000 | 2,836,000 | 4,835,000 | 9,935,000 |
Net interest income | 14,795,000 | 12,713,000 | 43,370,000 | 37,311,000 |
Provision for (recovery of) loan losses | (1,250,000) | (2,650,000) | 4,200,000 | |
Net interest income after provision for (recovery of) loan losses | 16,045,000 | 12,713,000 | 46,020,000 | 33,111,000 |
Noninterest income | ||||
Service charges and fees | 671,000 | 613,000 | 2,001,000 | 1,817,000 |
Gain (loss) on securities transactions, net | (7,000) | 78,000 | (19,000) | 281,000 |
Gain on sale of other loans | 11,000 | |||
Income on bank owned life insurance | 165,000 | 171,000 | 499,000 | 518,000 |
Mortgage loan income | 255,000 | 228,000 | 810,000 | 822,000 |
Other | 297,000 | 382,000 | 1,179,000 | 974,000 |
Total noninterest income | 1,381,000 | 1,472,000 | 4,470,000 | 4,423,000 |
Noninterest expense | ||||
Salaries and employee benefits | 5,408,000 | 5,041,000 | 15,968,000 | 14,806,000 |
Occupancy expenses | 790,000 | 815,000 | 2,387,000 | 2,420,000 |
Equipment expenses | 275,000 | 330,000 | 880,000 | 1,047,000 |
FDIC assessment | 161,000 | 174,000 | 481,000 | 455,000 |
Data processing fees | 673,000 | 656,000 | 2,022,000 | 1,821,000 |
Other real estate expense, net | 5,000 | 87,000 | (415,000) | 89,000 |
Other operating expenses | 1,798,000 | 1,423,000 | 5,734,000 | 4,355,000 |
Total noninterest expense | 9,110,000 | 8,526,000 | 27,057,000 | 24,993,000 |
Income before income taxes | 8,316,000 | 5,659,000 | 23,433,000 | 12,541,000 |
Income tax expense | 1,768,000 | 1,143,000 | 4,816,000 | 2,450,000 |
Net income | $ 6,548,000 | $ 4,516,000 | $ 18,617,000 | $ 10,091,000 |
Net income per share - basic | $ 0.29 | $ 0.20 | $ 0.83 | $ 0.45 |
Net income per share - diluted | $ 0.28 | $ 0.20 | $ 0.82 | $ 0.45 |
Weighted average number of shares outstanding | ||||
Basic | 22,455 | 22,312 | 22,333 | 22,339 |
Diluted | 23,002 | 22,503 | 22,717 | 22,534 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||||
Net income | $ 6,548 | $ 4,516 | $ 18,617 | $ 10,091 |
Other comprehensive (loss) income : | ||||
Change in unrealized gain (loss) on investment securities | (1,024) | 1,735 | (2,546) | 5,527 |
Tax related to unrealized (gain) loss on investment securities | 226 | (382) | 560 | (1,215) |
Reclassification adjustment for loss (gain) on securities sold | 7 | (78) | 19 | (281) |
Tax related to realized (loss) gain on securities sold | (2) | 17 | (5) | 62 |
Cash flow hedge: | ||||
Change in unrealized gain (loss) on cash flow hedge | 50 | 47 | 257 | (639) |
Tax related to cash flow hedge | (10) | (10) | (56) | 140 |
Total other comprehensive income (loss) | (753) | 1,329 | (1,771) | 3,594 |
Total comprehensive income | $ 5,795 | $ 5,845 | $ 16,846 | $ 13,685 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid in Capital [Member] | Retained Deficit [Member] | Accumulated Other Comprehensive Income [Member] | Total |
Beginning Balance at Dec. 31, 2019 | $ 224 | $ 150,728 | $ 2,562 | $ 1,965 | $ 155,479 |
Beginning Balance, shares at Dec. 31, 2019 | 22,423 | ||||
Issuance of common stock | 152 | 152 | |||
Issuance of common stock, shares | 25 | ||||
Exercise and issuance of employee stock options | 705 | 705 | |||
Exercise and issuance of employee stock options, shares | 4 | ||||
Stock purchased under stock repurchase program | $ (1) | (877) | (878) | ||
Stock purchased under stock repurchase program, Shares | (131) | ||||
Net income | 10,091 | 10,091 | |||
Dividends paid on common stock | (3,353) | (3,353) | |||
Other comprehensive income (loss) | 3,594 | 3,594 | |||
Ending Balance at Sep. 30, 2020 | $ 223 | 150,708 | 9,300 | 5,559 | 165,790 |
Ending Balance, shares at Sep. 30, 2020 | 22,321 | ||||
Beginning Balance at Jun. 30, 2020 | $ 223 | 150,428 | 5,900 | 4,230 | 160,781 |
Beginning Balance, shares at Jun. 30, 2020 | 22,311 | ||||
Issuance of common stock | 49 | 49 | |||
Issuance of common stock, shares | 10 | ||||
Exercise and issuance of employee stock options | 231 | 231 | |||
Net income | 4,516 | 4,516 | |||
Dividends paid on common stock | (1,116) | (1,116) | |||
Other comprehensive income (loss) | 1,329 | 1,329 | |||
Ending Balance at Sep. 30, 2020 | $ 223 | 150,708 | 9,300 | 5,559 | 165,790 |
Ending Balance, shares at Sep. 30, 2020 | 22,321 | ||||
Beginning Balance at Dec. 31, 2020 | $ 222 | 149,822 | 13,419 | 6,191 | 169,654 |
Beginning Balance, shares at Dec. 31, 2020 | 22,201 | ||||
Issuance of common stock | $ 1 | 152 | 153 | ||
Issuance of common stock, shares | 17 | ||||
Exercise and issuance of employee stock options | $ 2 | 2,077 | 2,079 | ||
Exercise and issuance of employee stock options, shares | 268 | ||||
Stock purchased under stock repurchase program | (146) | (146) | |||
Stock purchased under stock repurchase program, Shares | (21) | ||||
Net income | 18,617 | 18,617 | |||
Dividends paid on common stock | (4,249) | (4,249) | |||
Other comprehensive income (loss) | (1,771) | (1,771) | |||
Ending Balance at Sep. 30, 2021 | $ 225 | 151,905 | 27,787 | 4,420 | 184,337 |
Ending Balance, shares at Sep. 30, 2021 | 22,465 | ||||
Beginning Balance at Jun. 30, 2021 | $ 225 | 151,522 | 22,811 | 5,173 | 179,731 |
Beginning Balance, shares at Jun. 30, 2021 | 22,452 | ||||
Issuance of common stock | 49 | 49 | |||
Issuance of common stock, shares | 4 | ||||
Exercise and issuance of employee stock options | 334 | 334 | |||
Exercise and issuance of employee stock options, shares | 9 | ||||
Net income | 6,548 | 6,548 | |||
Dividends paid on common stock | (1,572) | (1,572) | |||
Other comprehensive income (loss) | (753) | (753) | |||
Ending Balance at Sep. 30, 2021 | $ 225 | $ 151,905 | $ 27,787 | $ 4,420 | $ 184,337 |
Ending Balance, shares at Sep. 30, 2021 | 22,465 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY | ||||
Dividends paid per share (in dollar per share) | $ 0.07 | $ 0.05 | $ 0.19 | $ 0.10 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating activities: | ||
Net income | $ 18,617 | $ 10,091 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and intangibles amortization | 1,231 | 1,379 |
Right-of-use lease asset amortization | 719 | 706 |
Stock-based compensation expense | 957 | 846 |
Tax benefit of exercised stock options | (235) | (6) |
Amortization of purchased loan premium | 84 | 229 |
(Recovery of) provision for loan losses | (2,650) | 4,200 |
Amortization of security premiums and accretion of discounts, net | 607 | 574 |
Net loss (gain) on sale of securities | 19 | (281) |
Net gain on sale and valuation of OREO | (439) | (23) |
Net (gain) loss on disposal of premises and equipment | (3) | 82 |
Net gain on sale of loans | (11) | |
Originations of mortgages held for sale | (26,112) | |
Proceeds from sales of mortgages held for sale | 25,462 | |
Increase in bank owned life insurance investment | (499) | (518) |
Changes in assets and liabilities: | ||
Increase in other assets | (753) | (2,086) |
Increase (decrease) in accrued expenses and other liabilities | 52 | (1,446) |
Net cash provided by operating activities | 17,707 | 13,086 |
Investing activities: | ||
Proceeds from sales/calls/maturities/paydowns of available for sale securities | 47,913 | 66,171 |
Proceeds from calls/maturities/paydowns of held to maturity securities | 2,105 | 12,640 |
Proceeds from sales of restricted equity securities | 805 | 1,700 |
Purchase of available for sale securities | (155,545) | (107,834) |
Purchase of restricted equity securities | (418) | (1,720) |
Proceeds from sale of other real estate owned | 4,545 | 134 |
Net increase in loans | (40,694) | (115,608) |
Principal recoveries of loans previously charged off | 591 | 453 |
Purchase of premises and equipment, net | (361) | (186) |
Purchase small business investment company fund investment | (345) | |
Proceeds from sale of premises and equipment | 64 | |
Proceeds from sale of loans | 632 | |
Net cash used in investing activities | (140,995) | (143,963) |
Financing activities: | ||
Net increase in deposits | 100,101 | 205,894 |
Net decrease in federal funds purchased | 2,698 | (23,497) |
Net increase in short-term Federal Home Loan Bank borrowings | 10,000 | |
Proceeds from long-term Federal Home Loan Bank borrowings | 40,000 | |
Payments on long-term Federal Home Loan Bank borrowings | (500) | (40,500) |
Proceeds from issuance of common stock | 1,275 | 11 |
Cash dividends paid | (4,249) | (3,353) |
Repurchase of common stock | (146) | (878) |
Net cash provided by financing activities | 109,179 | 177,677 |
Net increase in cash and cash equivalents | (14,109) | 46,800 |
Cash and cash equivalents: | ||
Beginning of the period | 63,185 | 28,684 |
End of the period | 49,076 | 75,484 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 5,211 | 10,312 |
Income taxes paid | $ 4,440 | $ 3,306 |
Nature of Banking Activities an
Nature of Banking Activities and Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Nature of Banking Activities and Significant Accounting Policies [Abstract] | |
Nature of Banking Activities and Significant Accounting Policies | Note 1. Nature of Banking Activities and Significant Accounting Policies Organization Community Bankers Trust Corporation (the “Company”) is headquartered in Richmond, Virginia and is the holding company for Essex Bank (the “Bank”), a Virginia state bank with 24 full-service offices, 18 of which are in Virginia and six of which are in Maryland. The Bank also operates two loan production offices. The Bank will cose its Edgewater and Rockville branches in Maryland on December 3, 2021. The Bank engages in a general commercial banking business and provides a wide range of financial services primarily to individuals, small businesses and larger commercial companies, including individual and commercial demand and time deposit accounts, commercial and industrial loans, consumer and small business loans, real estate and mortgage loans, investment services, on-line and mobile banking products, and cash management services. Financial Statements The consolidated statements presented include accounts of the Company and the Bank, its wholly-owned subsidiary. All material intercompany balances and transactions have been eliminated. The statements should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles (GAAP) and to the general practices within the banking industry. The interim financial statements have not been audited; however, in the opinion of management, all adjustments, consisting of normal accruals, were made that are necessary to present fairly the balance sheet of the Company as of September 30, 2021, the statements of income, comprehensive income and changes in shareholders’ equity for the three and nine months ended September 30, 2021, and the statements of cash flows for the nine months ended September 30, 2021. Results for the three and nine month periods ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. The financial information contained within the statements is, to a significant extent, financial information that is based on measures of the financial effects of transactions and events that have already occurred. A variety of factors could affect the ultimate value that is obtained when either earning income, recognizing an expense, recovering an asset or relieving a liability. The Company uses historical loss factors as one factor in determining the inherent loss that may be present in its loan portfolio. Actual losses could differ significantly from the historical factors that the Company uses. In addition, GAAP itself may change from one previously acceptable method to another method. Although the economics of the Company’s transactions would be the same, the timing of events that would impact its transactions could change. In preparing these financial statements, the Company has evaluated subsequent events and transactions for potential recognition or disclosure through the date the financial statements were issued. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2021 | |
Securities [Abstract] | |
Securities | Note 2. Securities Amortized costs and fair values of securities available for sale and held to maturity at September 30, 2021 and December 31, 2020 were as follows (dollars in thousands): September 30, 2021 Gross Unrealized Amortized Cost Gains Losses Fair Value Securities Available for Sale U.S. Treasury securities $ 19,896 $ 66 $ (82) $ 19,880 U.S. Government agencies 52,948 282 (422) 52,808 State, county and municipal 187,999 6,026 (734) 193,291 Mortgage backed securities 37,885 1,163 (140) 38,908 Asset backed securities 45,951 869 (91) 46,729 Corporate bonds 23,749 532 (52) 24,229 Total Securities Available for Sale $ 368,428 $ 8,938 $ (1,521) $ 375,845 Securities Held to Maturity State, county and municipal $ 19,052 792 — 19,844 Total Securities Held to Maturity $ 19,052 $ 792 $ — $ 19,844 December 31, 2020 Gross Unrealized Amortized Cost Gains Losses Fair Value Securities Available for Sale U.S. Treasury securities $ 23,500 $ — $ (1) $ 23,499 U.S. Government agencies 25,880 114 (141) 25,853 State, county and municipal 118,612 7,172 (64) 125,720 Mortgage backed securities 30,434 1,756 (1) 32,189 Asset backed securities 36,841 704 (57) 37,488 Corporate bonds 26,136 480 (18) 26,598 Total Securities Available for Sale $ 261,403 $ 10,226 $ (282) $ 271,347 Securities Held to Maturity State, county and municipal $ 21,176 $ 1,081 $ — $ 22,257 Total Securities Held to Maturity $ 21,176 $ 1,081 $ — $ 22,257 The amortized cost and fair value of securities at September 30, 2021 by final contractual maturity are shown below. Expected maturities may differ from final contractual maturities because issuers may have the right to call or prepay obligations without any penalties. Held to Maturity Available for Sale (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 5,073 $ 5,134 $ 18,359 $ 18,561 Due after one year through five years 9,860 10,395 130,547 133,305 Due after five years through ten years 3,867 4,031 186,997 190,805 Due after ten years 252 284 32,525 33,174 Total securities $ 19,052 $ 19,844 $ 368,428 $ 375,845 Proceeds from sales and calls of securities were $2.5 million and $4.6 million during the three months ended September 30, 2021 and 2020, respectively, and $9.9 million and $25.2 million for the nine months ended September 30, 2021 and 2020, respectively. Gains and losses on securities transactions are determined using the specific identification method. Gross realized gains and losses on securities transactions during the three and nine months ended September 30, 2021 and 2020 were as follows (dollars in thousands): Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Gross realized gains $ — $ 79 $ 18 $ 375 Gross realized losses (7) (1) (37) (94) Net securities gain $ (7) $ 78 $ (19) $ 281 In estimating other than temporary impairment (OTTI) losses, management considers the length of time and the extent to which the fair value has been less than cost, the financial condition and short-term prospects for the issuer, and the intent and ability of management to hold its investment for a period of time to allow a recovery in fair value. There were no investments held that had OTTI losses for the three and nine months ended September 30, 2021 and 2020. The fair value and gross unrealized losses for securities, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at September 30, 2021 and December 31, 2020 were as follows (dollars in thousands): September 30, 2021 Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Available for Sale U.S. Treasury securities $ 11,993 (82) $ — $ — $ 11,993 $ (82) U.S. Government agencies 27,037 (294) 4,681 (128) 31,718 (422) State, county and municipal 63,267 (668) 1,680 (66) 64,947 (734) Mortgage backed securities 16,786 (140) — — 16,786 (140) Asset backed securities 21,696 (90) 374 (1) 22,070 (91) Corporate bonds 3,517 (52) — — 3,517 (52) Total $ 144,296 $ (1,326) $ 6,735 $ (195) $ 151,031 $ (1,521) December 31, 2020 Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Available for Sale U.S. Treasury securities $ 23,499 $ (1) $ — $ — $ 23,499 $ (1) U.S. Government agencies 6,726 (25) 8,266 (116) 14,992 (141) State, county and municipal 6,203 (49) 301 (15) 6,504 (64) Mortgage backed securities 118 (1) — — 118 (1) Asset backed securities 12,427 (8) 4,410 (49) 16,837 (57) Corporate bonds 7,216 (18) — — 7,216 (18) Total $ 56,189 $ (102) $ 12,977 $ (180) $ 69,166 $ (282) The unrealized losses (impairments) in the investment portfolio at September 30, 2021 and December 31, 2020 are generally a result of market fluctuations of interest rates that occur daily. The unrealized losses are from 123 securities at September 30, 2021. Of those, 111 are investment grade, have U.S. government agency guarantees, or are backed by the full faith and credit of local municipalities throughout the United States. Eight investment grade asset-backed securities comprised of student loan pools, which are 97% U.S. government guaranteed, included in corporate obligations and four corporate bonds make up the remaining securities with unrealized losses at September 30, 2021. The Company considers the reason for impairment, length of impairment, and ability and intent to hold until the full value is recovered in determining if the impairment is temporary in nature. Based on this analysis, the Company has determined these impairments to be temporary in nature. The Company does not intend to sell, and it is more likely than not that the Company will not be required to sell, these securities until they recover in value or reach maturity. Market prices are affected by conditions beyond the control of the Company. Investment decisions are made by the management group of the Company and reflect the overall liquidity and strategic asset/liability objectives of the Company. Management analyzes the securities portfolio frequently and manages the portfolio to provide an overall positive impact to the Company’s income statement and balance sheet. Securities with amortized costs of $63.9 million and $52.2 million at September 30, 2021 and December 31, 2020, respectively, were pledged to secure public deposits as required or permitted by law. Securities with amortized costs of $4.5 million and $5.0 million at September 30, 2021 and December 31, 2020, respectively, were pledged to secure lines of credit at the Federal Reserve discount window. At each of September 30, 2021 and December 31, 2020, there were no securities purchased from a single issuer, other than U.S. Treasury securities and other U.S. Government agencies that comprised more than 10% of the consolidated shareholders’ equity. |
Loans and Related Allowance for
Loans and Related Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2021 | |
Loans and Related Allowance for Loan Losses [Abstract] | |
Loans and Related Allowance for Loan Losses | Note 3. Loans and Related Allowance for Loan Losses The Company’s loans, net of deferred fees and costs, at September 30, 2021 and December 31, 2020 were comprised of the following (dollars in thousands): September 30, 2021 December 31, 2020 Amount % of Loans Amount % of Loans Mortgage loans on real estate: Residential 1‑4 family $ 178,099 14.47 % $ 197,228 16.68 % Commercial 542,418 44.06 474,856 40.16 Construction and land development 200,878 16.32 182,277 15.42 Second mortgages 7,078 0.57 6,360 0.54 Multifamily 80,245 6.52 78,158 6.61 Agriculture 7,748 0.63 6,662 0.56 Total real estate loans 1,016,466 82.57 945,541 79.97 Commercial loans 206,801 16.80 225,386 19.06 Consumer installment loans 6,841 0.56 9,996 0.85 All other loans 873 0.07 1,439 0.12 Total loans $ 1,230,981 100.00 % $ 1,182,362 100.00 % The Company held $10.4 million and $10.7 million in balances of loans guaranteed by the United States Department of Agriculture (USDA), which are included in various categories in the table above, at September 30, 2021 and December 31, 2020, respectively. As these loans are 100% guaranteed by the USDA, no loan loss allowance is required. These loan balances included a purchase premium of $722,000 and $804,000 million at September 30, 2021 and December 31, 2020, respectively. The purchase premium is amortized as an adjustment of the related loan yield on a straight line basis, which is substantially equivalent to the results obtained using the effective interest method. Any unamortized purchase premium remaining on loans prepaid by the borrower is written off. The Company originates loans under the Paycheck Protection Program (PPP) of the Small Business Administration (SBA). These PPP loans totaled $32.8 million and $49.3 million at September 30, 2021 and December 31, 2020, respectively, and are included in commercial loans. As these loans are 100% guaranteed by the SBA, no loan loss allowance is required. The majority of the PPP loans have a five year term; however, most are expected to be forgiven by the SBA as borrowers use the funds for qualified expenses. These loan balances included net fees of $1.1 million and $920,000 at September 30, 2021 and December 31, 2020, respectively, which are being amortized as an adjustment of the related loan yield on a straight line basis, which is substantially equivalent to the results obtained using the effective interest method. Any unamortized net fee remaining on loans forgiven or prepaid by the borrower is recorded as income. At September 30, 2021 and December 31, 2020, the Company’s allowance for loan losses was comprised of the following: (i) a specific valuation component calculated in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 310, Receivables, Contingencies The following table summarizes information related to impaired loans at and for the three and nine months ended September 30, 2021 (dollars in thousands): Three months ended Nine months ended September 30, 2021 September 30, 2021 September 30, 2021 Unpaid Recorded Principal Related Average Interest Average Interest Investment (1) Balance (2) Allowance Investment Recognized Investment Recognized With no related allowance recorded: Mortgage loans on real estate: Residential 1‑4 family $ 302 $ 412 $ — $ 303 $ 3 $ 385 $ 10 Commercial 2,984 3,770 — 3,392 28 3,415 83 Total real estate loans 3,286 4,182 — 3,695 31 3,800 93 Subtotal impaired loans with no valuation allowance 3,286 4,182 — 3,695 31 3,800 93 With an allowance recorded: Mortgage loans on real estate: Residential 1‑4 family 1,982 2,367 581 2,061 11 2,144 32 Commercial 351 720 101 190 3 193 10 Construction and land development 2 4 1 2 — 13 — Agriculture — — — — — 23 — Total real estate loans 2,335 3,091 683 2,253 14 2,373 42 Commercial loans 2,150 2,187 317 1,795 1 1,900 2 Consumer installment loans — — — — — 8 — Subtotal impaired loans with a valuation allowance 4,485 5,278 1,000 4,048 15 4,281 44 Total: Mortgage loans on real estate: Residential 1‑4 family 2,284 2,779 581 2,364 14 2,529 42 Commercial 3,335 4,490 101 3,582 31 3,608 93 Construction and land development 2 4 1 2 — 13 — Agriculture — — — — — 23 — Total real estate loans 5,621 7,273 683 5,948 45 6,173 135 Commercial loans 2,150 2,187 317 1,795 1 1,900 2 Consumer installment loans — — — — — 8 — Total impaired loans $ 7,771 $ 9,460 $ 1,000 $ 7,743 $ 46 $ 8,081 $ 137 (1) The amount of the investment in a loan is not net of a valuation allowance, but does reflect any direct write-down of the investment. (2) The contractual amount due reflects paydowns applied in accordance with loan documents, but does not reflect any direct write-downs or valuation allowances. The following table summarizes information related to impaired loans at December 31, 2020 and for the three and nine months ended September 30, 2020 (dollars in thousands): Three months ended Nine months ended December 31, 2020 September 30, 2020 September 30, 2020 Unpaid Recorded Principal Related Average Interest Average Interest Investment (1) Balance (2) Allowance Investment Recognized Investment Recognized With no related allowance recorded: Mortgage loans on real estate: Residential 1‑4 family $ 624 $ 787 $ — $ 888 $ 7 $ 1,105 $ 22 Commercial 3,458 4,198 — 3,080 34 3,129 101 Construction and land development — — — — — 164 — Multifamily — — — 616 — Total real estate loans 4,082 4,985 — 3,968 41 5,014 123 Commercial loans — — — 175 — 88 — Subtotal impaired loans with no valuation allowance 4,082 4,985 — 4,143 41 5,102 123 With an allowance recorded: Mortgage loans on real estate: Residential 1‑4 family 2,200 2,573 640 2,156 13 1,923 37 Commercial 200 715 57 152 2 195 6 Construction and land development 44 149 12 847 — 798 — Agriculture 45 46 13 51 — 26 — Total real estate loans 2,489 3,483 722 3,206 15 2,942 43 Commercial loans 2,549 2,549 437 1,243 3 1,142 9 Consumer installment loans 19 19 6 15 — 12 — Subtotal impaired loans with a valuation allowance 5,057 6,051 1,165 4,464 18 4,096 52 Total: Mortgage loans on real estate: Residential 1‑4 family 2,824 3,360 640 3,044 20 3,028 59 Commercial 3,658 4,913 57 3,232 36 3,324 107 Construction and land development 44 149 12 847 — 962 — Multifamily — — — — — 616 — Agriculture 45 46 13 51 — 26 — Total real estate loans 6,571 8,468 722 7,174 56 7,956 166 Commercial loans 2,549 2,549 437 1,418 3 1,230 9 Consumer installment loans 19 19 6 15 — 12 — Total impaired loans $ 9,139 $ 11,036 $ 1,165 $ 8,607 $ 59 $ 9,198 $ 175 (1) The amount of the investment in a loan is not net of a valuation allowance, but does reflect any direct write-down of the investment. (2) The contractual amount due reflects paydowns applied in accordance with loan documents, but does not reflect any direct write-downs or valuation allowances. Troubled debt restructures still accruing interest are loans that management expects to ultimately collect all principal and interest due, but not under the terms of the original contract. A reconciliation of impaired loans to nonaccrual loans at September 30, 2021 and December 31, 2020, is set forth in the table below (dollars in thousands): September 30, 2021 December 31, 2020 Nonaccruals $ 3,770 $ 4,460 Troubled debt restructure and still accruing 4,001 4,679 Total impaired $ 7,771 $ 9,139 Interest income on nonaccrual loans, if recognized, is recorded using the cash basis method of accounting. There was $17,000 and $185,000 recognized during the three and nine months ended September 30, 2021, respectively. There was an insignificant amount of cash basis income recognized during the three and nine months ended September 30, 2020. For the three months ended September 30, 2021 and 2020, estimated interest income of $50,000 and $61,000, respectively, would have been recorded if all such loans had been accruing interest according to their original contractual terms. For the nine months ended September 30, 2021 and 2020, estimated interest income of $151,000 and $152,000, respectively, would have been recorded if all such loans had been accruing interest according to their original contractual terms. The following tables present an age analysis of past due status of loans by category as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 30 ‑ 89 Days 90+ Days Past Total Past Total Loans Past Due Due and Accruing Nonaccrual Due Current Receivable Mortgage loans on real estate: Residential 1‑4 family $ 816 $ — $ 1,168 $ 1,984 $ 176,115 $ 178,099 Commercial 250 — 602 852 541,566 542,418 Construction and land development — — 2 2 200,876 200,878 Second mortgages 226 — — 226 6,852 7,078 Multifamily — — — — 80,245 80,245 Agriculture — — — — 7,748 7,748 Total real estate loans 1,292 — 1,772 3,064 1,013,402 1,016,466 Commercial loans 91 — 1,998 2,089 204,712 206,801 Consumer installment loans — — — — 6,841 6,841 All other loans — — — — 873 873 Total loans $ 1,383 $ — $ 3,770 $ 5,153 $ 1,225,828 $ 1,230,981 December 31, 2020 30 ‑ 89 Days 90+ Days Past Total Past Total Loans Past Due Due and Accruing Nonaccrual Due Current Receivable Mortgage loans on real estate: Residential 1‑4 family $ 1,324 $ 33 $ 1,357 $ 2,714 $ 194,514 $ 197,228 Commercial 438 — 730 1,168 473,688 474,856 Construction and land development 157 — 44 201 182,076 182,277 Second mortgages 227 — — 227 6,133 6,360 Multifamily — — — — 78,158 78,158 Agriculture — — 45 45 6,617 6,662 Total real estate loans 2,146 33 2,176 4,355 941,186 945,541 Commercial loans 60 — 2,264 2,324 223,062 225,386 Consumer installment loans — 12 20 32 9,964 9,996 All other loans — — — — 1,439 1,439 Total loans $ 2,206 $ 45 $ 4,460 $ 6,711 $ 1,175,651 $ 1,182,362 Activity in the allowance for loan losses on loans by segment for the three and nine months ended September 30, 2021 and 2020 is presented in the following tables (dollars in thousands): Three Months Ended September 30, 2021 Provision June 30, 2021 Allocation Charge-offs Recoveries September 30, 2021 Mortgage loans on real estate: Residential 1‑4 family $ 2,004 $ (263) $ — $ 24 $ 1,765 Commercial 3,782 514 — 5 4,301 Construction and land development 2,040 (763) — 152 1,429 Second mortgages 20 (10) — 10 20 Multifamily 366 (74) — — 292 Agriculture 43 (10) — — 33 Total real estate loans 8,255 (606) — 191 7,840 Commercial loans 1,482 (242) — — 1,241 Consumer installment loans 110 (2) (49) 31 90 All other loans 8 (3) — — 4 Unallocated 1,151 (397) — — 754 Total loans $ 11,006 $ (1,250) $ (49) $ 222 $ 9,929 Three Months Ended September 30, 2020 Provision June 30, 2020 Allocation Charge-offs Recoveries September 30, 2020 Mortgage loans on real estate: Residential 1‑4 family $ 3,495 $ (954) $ — $ 14 $ 2,555 Commercial 4,612 (1,606) — 5 3,011 Construction and land development 1,342 (254) — 75 1,163 Second mortgages 45 (9) — 2 38 Multifamily 499 28 — — 527 Agriculture 44 7 — — 51 Total real estate loans 10,037 (2,788) — 96 7,345 Commercial loans 2,058 (288) — 19 1,789 Consumer installment loans 110 31 (42) 17 116 All other loans 8 2 — — 10 Unallocated 25 3,043 — — 3,068 Total loans $ 12,238 $ — $ (42) $ 132 $ 12,328 Nine Months Ended September 30, 2021 Provision December 31, 2020 Allocation Charge-offs Recoveries September 30, 2021 Mortgage loans on real estate: Residential 1‑4 family $ 2,638 $ (975) $ (11) $ 113 $ 1,765 Commercial 4,568 (279) — 12 4,301 Construction and land development 2,545 (1,403) — 287 1,429 Second mortgages 18 (18) — 20 20 Multifamily 508 (216) — — 292 Agriculture 40 (7) — — 33 Total real estate loans 10,317 (2,898) (11) 432 7,840 Commercial loans 1,897 (538) (167) 49 1,241 Consumer installment loans 119 35 (174) 110 90 All other loans 7 (3) — 4 Unallocated — 754 — — 754 Total loans $ 12,340 $ (2,650) $ (352) $ 591 $ 9,929 Nine Months Ended September 30, 2020 Provision December 31, 2019 Allocation Charge-offs Recoveries September 30, 2020 Mortgage loans on real estate: Residential 1‑4 family $ 2,685 $ (173) $ — $ 43 $ 2,555 Commercial 2,196 731 — 84 3,011 Construction and land development 1,044 (40) — 159 1,163 Second mortgages 79 (45) — 4 38 Multifamily 248 279 — — 527 Agriculture 38 13 — — 51 Total real estate loans 6,290 765 — 290 7,345 Commercial loans 1,980 331 (608) 86 1,789 Consumer installment loans 114 71 (146) 77 116 All other loans 7 3 — — 10 Unallocated 38 3,030 — — 3,068 Total loans $ 8,429 $ 4,200 $ (754) $ 453 $ 12,328 The increase in provision expense for the three and nine months ended September 30, 2020 reflected the significant increase in commercial real estate and commercial loans classified as special mention due to the inherent economic impact COVID-19 was expected to have on these borrowers. The subsequent recovery of loan loss provision for the nine months ended September 30, 2021 reflected a more stable economic climate in the first nine months of 2021 compared with each quarter in 2020. This is evidenced by the level of charge-offs and delinquencies, which have remained relatively low, as well as decreases in special mention loans. Also, the majority of loans that were granted COVID-19 related payment relief have resumed normal payments. The allowance for loan losses could be further impacted by COVID-19; however, the amount of that impact is not currently estimable. Due to the lingering, although diminishing, potential effects of COVID-19, the Company changed the look back period related to the qualitative factor measuring credit quality deterioration trends for the September 30, 2021 loan loss allowance calculation. The factor was calculated based on an eight quarter look back period versus a four quarter look back period used in prior periods. This change accounted for the credit quality changes pre- and post-COVID-19, which span over the eight quarter period. The revised methodology resulted in a decrease of $560,000 to the unallocated component with corresponding increases of $483,000 and $221,000 to the commercial real estate and construction and land development, respectively, offset by a $116,000 decrease in residential 1-4 family, as compared to the previous methodology. The following tables present information on the loans evaluated for impairment in the allowance for loan losses as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Allowance for Loan Losses Recorded Investment in Loans Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for Impairment Impairment Total Impairment Impairment Total Mortgage loans on real estate: Residential 1‑4 family $ 581 $ 1,184 $ 1,765 $ 2,284 $ 175,815 $ 178,099 Commercial 101 4,200 4,301 2,150 540,268 542,418 Construction and land development 1 1,428 1,429 2 200,876 200,878 Second mortgages — 20 20 — 7,078 7,078 Multifamily — 292 292 — 80,245 80,245 Agriculture — 33 33 — 7,748 7,748 Total real estate loans 683 7,157 7,840 4,436 1,012,030 1,016,466 Commercial loans 317 924 1,241 3,335 203,466 206,801 Consumer installment loans — 90 90 — 6,841 6,841 All other loans — 4 4 — 873 873 Unallocated — 754 754 — — — Total loans $ 1,000 $ 8,929 $ 9,929 $ 7,771 $ 1,223,210 $ 1,230,981 December 31, 2020 Allowance for Loan Losses Recorded Investment in Loans Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for Impairment Impairment Total Impairment Impairment Total Mortgage loans on real estate: Residential 1‑4 family $ 640 $ 1,998 $ 2,638 $ 2,824 $ 194,404 $ 197,228 Commercial 57 4,511 4,568 3,658 471,198 474,856 Construction and land development 12 2,533 2,545 44 182,233 182,277 Second mortgages — 18 18 — 6,360 6,360 Multifamily — 508 508 — 78,158 78,158 Agriculture 13 27 40 45 6,617 6,662 Total real estate loans 722 9,595 10,317 6,571 938,970 945,541 Commercial loans 437 1,460 1,897 2,549 222,837 225,386 Consumer installment loans 6 113 119 19 9,977 9,996 All other loans — 7 7 — 1,439 1,439 Unallocated — — — — — — Total loans $ 1,165 $ 11,175 $ 12,340 $ 9,139 $ 1,173,223 $ 1,182,362 Loans are monitored for credit quality on a recurring basis. These credit quality indicators are defined as follows: Pass Special Mention Substandard Doubtful The following tables present the composition of loans by credit quality indicator at September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Special Pass Mention Substandard Doubtful Total Mortgage loans on real estate: Residential 1‑4 family $ 173,361 $ 3,509 $ 1,229 $ — $ 178,099 Commercial 499,588 42,325 505 — 542,418 Construction and land development 197,497 3,379 2 — 200,878 Second mortgages 6,465 613 — — 7,078 Multifamily 80,245 — — — 80,245 Agriculture 6,319 1,429 — — 7,748 Total real estate loans 963,475 51,255 1,736 — 1,016,466 Commercial loans 189,623 13,597 3,581 — 206,801 Consumer installment loans 6,830 11 — — 6,841 All other loans 859 14 — — 873 Total loans $ 1,160,787 $ 64,877 $ 5,317 $ — $ 1,230,981 December 31, 2020 Special Pass Mention Substandard Doubtful Total Mortgage loans on real estate: Residential 1‑4 family $ 189,617 $ 6,253 $ 1,358 $ — $ 197,228 Commercial 433,748 39,001 2,107 — 474,856 Construction and land development 173,668 8,565 44 — 182,277 Second mortgages 5,495 865 — — 6,360 Multifamily 71,923 6,235 — — 78,158 Agriculture 6,208 409 45 — 6,662 Total real estate loans 880,659 61,328 3,554 — 945,541 Commercial loans 199,762 17,843 7,781 — 225,386 Consumer installment loans 9,959 18 19 — 9,996 All other loans 1,424 15 — — 1,439 Total loans $ 1,091,804 $ 79,204 $ 11,354 $ — $ 1,182,362 In accordance with FASB Accounting Standards Update (ASU) 2011-02, Receivables (Topic 310): A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring, The Company had no loan modifications considered to be TDRs during the three months ended September 30, 2021. During the nine months ended September 30, 2021, the Company restructured the terms of one 1-4 family residential loan that was considered to be a TDR with a pre- and post-modification balance of $61,000. A loan is considered to be in default if it is 90 days or more past due. There were no TDRs that had been restructured during the previous 12 months that resulted in default during the three and nine months ended September 30, 2021 and 2020. In the determination of the allowance for loan losses, management considers TDRs and subsequent defaults in these restructures by reviewing for impairment in accordance with FASB ASC 310-10-35, Receivables, Subsequent Measurement At September 30, 2021, the Company had 1-4 family mortgages in the amount of $77.0 million and cash in the amount of $6.5 million pledged as collateral to the Federal Home Loan Bank for a total borrowing capacity of $63.3 million. |
PCI Loans and Related Allowance
PCI Loans and Related Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2021 | |
PCI Loans and Related Allowance for Loan Losses [Abstract] | |
PCI Loans and Related Allowance for Loan Losses | Note 4. PCI Loans and Related Allowance for Loan Losses On January 30, 2009, the Company entered into a Purchase and Assumption Agreement with the Federal Deposit Insurance Corporation (FDIC) to assume all of the deposits and certain other liabilities and acquire substantially all assets of Suburban Federal Savings Bank (SFSB). The Company is applying the provisions of FASB ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality As of September 30, 2021 and December 31, 2020, the outstanding contractual balance of the PCI loans was $33.6 million and $43.2 million, respectively. The carrying amount, by loan type, as of these dates is as follows (dollars in thousands): September 30, 2021 December 31, 2020 % of PCI % of PCI Amount Loans Amount Loans Mortgage loans on real estate: Residential 1‑4 family $ 13,984 89.19 % $ 21,720 90.35 % Commercial 386 2.46 429 1.78 Construction and land development 453 2.89 780 3.25 Second mortgages 680 4.34 904 3.76 Multifamily 176 1.12 207 0.86 Total real estate loans 15,679 100.00 24,040 100.00 Total PCI loans $ 15,679 100.00 % $ 24,040 100.00 % There was no activity in the allowance for loan losses on PCI loans for the three and nine months ended September 30, 2021 and 2020. The following table presents information on the PCI loans collectively evaluated for impairment in the allowance for loan losses at September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 December 31, 2020 Allowance Recorded Recorded for loan investment in Allowance for investment in losses loans loan losses loans Mortgage loans on real estate: Residential 1‑4 family $ 156 $ 13,984 $ 156 $ 21,720 Commercial — 386 — 429 Construction and land development — 453 — 780 Second mortgages — 680 — 904 Multifamily — 176 — 207 Total real estate loans 156 15,679 156 24,040 Total PCI loans $ 156 $ 15,679 $ 156 $ 24,040 The change in the accretable yield balance for the nine months ended September 30, 2021 and the year ended December 31, 2020, is as follows (dollars in thousands): Balance, January 1, 2020 $ 33,466 Accretion (4,024) Reclassification to nonaccretable difference (253) Balance, December 31, 2020 $ 29,189 Accretion (2,310) Reclassification to nonaccretable difference (2,183) Balance, September 30, 2021 $ 24,696 The PCI loans were not classified as nonperforming assets as of September 30, 2021, as the loans are accounted for on a pooled basis, and interest income, through accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all PCI loans. |
Other Real Estate Owned
Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2021 | |
Other Real Estate Owned [Abstract] | |
Other Real Estate Owned | Note 5. Other Real Estate Owned The following table presents the balances of other real estate owned (OREO) at September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 December 31, 2020 Residential 1‑4 family $ 21 $ 21 Construction and land development 234 4,340 Total other real estate owned $ 255 $ 4,361 At September 30, 2021, the Company had $239,000 of residential 1-4 family loans and PCI loans that were in the process of foreclosure. On April 7, 2021, the Company sold OREO property with a carrying value of $3.8 million for a gain of $435,000. In accordance with FASB ASC 610, Other Income |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2021 | |
Deposits [Abstract] | |
Deposits | Note 6. Deposits The following table provides interest bearing deposit information, by type, at September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 December 31, 2020 Interest bearing checking $ 276,222 $ 239,628 MMDA 184,750 154,503 Savings 151,090 124,384 Time deposits less than or equal to $250,000 425,072 452,885 Time deposits over $250,000 115,947 128,400 Total interest bearing deposits $ 1,153,081 $ 1,099,800 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2021 | |
Accumulated Other Comprehensive Income | |
Accumulated Other Comprehensive Income | Note 7. Accumulated Other Comprehensive Income The following tables present activity net of tax in accumulated other comprehensive income (AOCI) for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands): Three months ended September 30, 2021 Unrealized Defined Gain (Loss) on Total Other Gain (Loss) on Benefit Cash Flow Comprehensive Securities Pension Plan Hedge Income Beginning balance $ 6,579 $ (1,073) $ (333) $ 5,173 Other comprehensive (loss) income before reclassifications (798) — 40 (758) Amounts reclassified from AOCI 5 — — 5 Net current period other comprehensive (loss) income (793) — 40 (753) Ending balance $ 5,786 $ (1,073) $ (293) $ 4,420 Three months ended September 30, 2020 Unrealized Defined Gain (Loss) on Total Other Gain (Loss) on Benefit Cash Flow Comprehensive Securities Pension Plan Hedge Income Beginning balance $ 5,688 $ (886) $ (572) $ 4,230 Other comprehensive income (loss) before reclassifications 1,353 — 37 1,390 Amounts reclassified from AOCI (61) — — (61) Net current period other comprehensive income 1,292 — 37 1,329 Ending balance $ 6,980 $ (886) $ (535) $ 5,559 Nine months ended September 30, 2021 Unrealized Defined Gain (Loss) on Total Other Gain (Loss) on Benefit Cash Flow Comprehensive Securities Pension Plan Hedge Income Beginning balance $ 7,758 $ (1,073) $ (494) $ 6,191 Other comprehensive (loss) income before reclassifications (1,986) — 201 (1,785) Amounts reclassified from AOCI 14 — — 14 Net current period other comprehensive (loss) income (1,972) — 201 (1,771) Ending balance $ 5,786 $ (1,073) $ (293) $ 4,420 Nine months ended September 30, 2020 Unrealized Defined Gain (Loss) on Total Other Gain (Loss) on Benefit Cash Flow Comprehensive Securities Pension Plan Hedge Income Beginning balance $ 2,887 $ (886) $ (36) $ 1,965 Other comprehensive income (loss) before reclassifications 4,312 — (499) 3,813 Amounts reclassified from AOCI (219) — — (219) Net current period other comprehensive income (loss) 4,093 — (499) 3,594 Ending balance $ 6,980 $ (886) $ (535) $ 5,559 The following tables present the effects of reclassifications out of AOCI on line items of consolidated income for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands): Affected Line Item in the Unaudited Consolidated Details about AOCI Components Amount Reclassified from AOCI Statement of Income Three months ended September 30, 2021 September 30, 2020 Securities available for sale: Unrealized loss (gains) on securities available for sale $ 7 $ (78) Gain (loss) on securities transactions, net Related tax (benefit) expense (2) 17 Income tax expense $ 5 $ (61) Net of tax Affected Line Item in the Unaudited Consolidated Details about AOCI Components Amount Reclassified from AOCI Statement of Income Nine months ended September 30, 2021 September 30, 2020 Securities available for sale: Unrealized loss (gains) on securities available for sale $ 19 $ (281) Gain (loss) on securities transactions, net Related tax (benefit) expense (5) 62 Income tax expense $ 14 $ (219) Net of tax |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2021 | |
Fair Values of Assets and Liabilities [Abstract] | |
Fair Values of Assets and Liabilities | Note 8. Fair Values of Assets and Liabilities FASB ASC 820, Fair Value Measurements and Disclosures, ● Level 1 — Valuation is based upon quoted prices for identical instruments traded in active markets. ● Level 2 — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3 — Valuation is determined using model-based techniques with significant assumptions not observable in the market. These unobservable assumptions reflect the Company ’ s own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include the use of third party pricing services, option pricing models, discounted cash flow models and similar techniques. FASB ASC 825, Financial Instruments Assets and Liabilities Recorded at Fair Value on a Recurring Basis The Company utilizes fair value measurements to record adjustments to certain assets to determine fair value disclosures. Securities available for sale and the cash flow hedge are recorded at fair value on a recurring basis. The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Total Level 1 Level 2 Level 3 Investment securities available for sale U.S. Treasury securities $ 19,880 $ — $ 19,880 $ — U.S. Government agencies 52,808 — 52,808 — State, county and municipal 193,291 10,321 182,970 — Mortgage backed securities 38,908 — 38,908 — Asset backed securities 46,729 — 46,729 — Corporate bonds 24,229 — 24,229 — Total investment securities available for sale 375,845 10,321 365,524 — Total assets at fair value $ 375,845 $ 10,321 $ 365,524 $ — Cash flow hedge liability $ 374 $ — $ 374 $ — Total liabilities at fair value $ 374 $ — $ 374 $ — December 31, 2020 Total Level 1 Level 2 Level 3 Investment securities available for sale U.S. Treasury securities $ 23,499 $ 23,499 $ — $ — U.S. Government agencies 25,853 4,034 21,819 — State, county and municipal 125,720 5,945 119,775 — Mortgage backed securities 32,189 5,534 26,655 — Asset backed securities 37,488 9,784 27,704 — Corporate bonds 26,598 500 26,098 — Total investment securities available for sale 271,347 49,296 222,051 — Total assets at fair value $ 271,347 $ 49,296 $ 222,051 $ — Cash flow hedge liability $ 631 $ — $ 631 $ — Total liabilities at fair value $ 631 $ — $ 631 $ — Investment securities available for sale Investment securities available for sale are recorded at fair value each reporting period. Fair value measurement is based upon quoted prices, if available (Level 1). If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions (Level 2). The Company utilizes a third party vendor to provide fair value data for purposes of determining the fair value of its available for sale securities portfolio. The third party vendor uses reputable pricing companies for security market data. The third party vendor has controls in place for month-to-month market checks and zero pricing, and a Statement on Standards for Attestation Engagements No. 18 report is obtained from the third party vendor on an annual basis. The Company makes no adjustments to the pricing service data received for its securities available for sale. Cash flow hedge The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Company is also required to measure and recognize certain other financial assets at fair value on a nonrecurring basis on the consolidated balance sheet. The following tables present assets measured at fair value on a nonrecurring basis as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Total Level 1 Level 2 Level 3 Impaired loans $ 3,968 $ — $ — $ 3,968 Bank premises and equipment held for sale 1,507 — — 1,507 Other real estate owned 255 — — 255 Total assets at fair value $ 5,730 $ — $ — $ 5,730 Total liabilities at fair value $ — $ — $ — $ — December 31, 2020 Total Level 1 Level 2 Level 3 Impaired loans $ 3,449 $ — $ — $ 3,449 Bank premises and equipment held for sale 1,507 — — 1,507 Other real estate owned 4,361 — — 4,361 Total assets at fair value $ 9,317 $ — $ — $ 9,317 Total liabilities at fair value $ — $ — $ — $ — Impaired loans Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures the impairment in accordance with FASB ASC 310, Receivables Impaired loans can also be evaluated for impairment using the present value of expected future cash flows discounted at the loan’s effective interest rate. The measurement of impaired loans using future cash flows discounted at the loan’s effective interest rate rather than the market rate of interest is not a fair value measurement and is therefore excluded from fair value disclosure requirements. Reviews of classified loans are performed by management on a quarterly basis. Bank premises and equipment held for sale The fair value of bank premises and equipment held for sale was determined using the adjusted appraisal methodology described in the OREO asset section below. Other real estate owned OREO assets are adjusted to fair value less estimated disposal costs upon transfer of the related loans to OREO, establishing a new cost basis. Initial fair value is based on appraised values of the collateral less estimated disposal costs. Subsequent to the transfer, valuations are periodically performed by management based on updated appraisals, general market conditions, recent sales of similar properties, length of time the properties have been held, and the Company’s ability and intent with regard to continued ownership of the properties. The assets are carried at the lower of carrying value or fair value less estimated disposal costs ranging from 2% to 10%. The Company may incur additional write-downs of OREO assets to fair value less estimated costs to sell if valuations indicate a further deterioration in market conditions. As such, the Company records OREO as a nonrecurring fair value measurement classified as Level 3. Fair Value of Financial Instruments FASB ASC 825, Financial Instruments The following reflects the fair value of financial instruments, whether or not recognized on the consolidated balance sheet, at fair value measures by level of valuation assumptions used for those assets. These tables exclude financial instruments for which the carrying value approximates fair value (dollars in thousands): September 30, 2021 Estimated Fair Carrying Value Value Level 1 Level 2 Level 3 Financial assets: Securities held to maturity $ 19,052 $ 19,844 $ — $ 19,844 $ — Loans, net of allowance 1,221,052 1,235,252 — — 1,235,252 PCI loans, net of allowance 15,523 23,624 — — 23,624 Financial liabilities: Interest bearing deposits 1,153,081 1,155,447 — 1,155,447 — Borrowings 71,457 71,963 — 71,963 — December 31, 2020 Estimated Fair Carrying Value Value Level 1 Level 2 Level 3 Financial assets: Securities held to maturity $ 21,176 $ 22,257 $ — $ 22,257 $ — Loans, net of allowance 1,170,022 1,178,764 — — 1,178,764 PCI loans, net of allowance 23,884 32,657 — — 32,657 Financial liabilities: Interest bearing deposits 1,099,800 1,103,112 — 1,103,112 — Borrowings 61,957 62,852 — 62,852 — |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 9. Earnings Per Share Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of shares outstanding during the period. Diluted EPS is computed using the weighted average number of shares outstanding during the period, including the effect of all potentially dilutive shares outstanding attributable to restricted stock units and stock option awards. The following table presents basic and diluted EPS for the three and nine months ended September 30, 2021 and 2020 (dollars and shares in thousands, except per share data): Weighted Average Net Income Shares Per (Numerator) (Denominator) Share Amount For the three months September 30, 2021 Basic EPS $ 6,548 22,455 $ 0.29 Effect of dilutive stock awards — 547 (0.01) Diluted EPS $ 6,548 23,002 $ 0.28 For the three months ended September 30, 2020 Basic EPS $ 4,516 22,312 $ 0.20 Effect of dilutive stock awards — 191 — Diluted EPS $ 4,516 22,503 $ 0.20 For the nine months ended September 30, 2021 Basic EPS $ 18,617 22,333 $ 0.83 Effect of dilutive stock awards — 384 (0.01) Diluted EPS $ 18,617 22,717 $ 0.82 For the nine months ended September 30, 2020 Basic EPS $ 10,091 22,339 $ 0.45 Effect of dilutive stock awards — 195 — Diluted EPS $ 10,091 22,534 $ 0.45 There were no issuable antidilutive shares excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2021. Antidilutive shares issuable under awards or options of 1.4 million were excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2020. |
Employee Benefit Plan
Employee Benefit Plan | 9 Months Ended |
Sep. 30, 2021 | |
Employee Benefit Plan [Abstract] | |
Employee Benefit Plan | Note 10. Employee Benefit Plan The Company adopted the Bank of Essex noncontributory, defined benefit pension plan for all full-time pre-merger Bank of Essex employees over 21 years of age. Benefits are generally based upon years of service and the employees’ compensation. The Company funds pension costs in accordance with the funding provisions of the Employee Retirement Income Security Act. The Company froze the plan benefits for all the defined benefit plan participants effective December 31, 2010. The following table provides the components of net periodic benefit (income) cost for the plan included in salaries and employee benefits in the consolidated statement of income for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands): Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Interest cost $ 116 $ 33 $ 348 $ 99 Expected return on plan assets (265) (54) (795) (161) Amortization of prior service cost 4 1 12 3 Recognized net actuarial loss 65 12 195 36 Net periodic (income) cost $ (80) $ (8) $ (240) $ (23) |
Cash Flow Hedge
Cash Flow Hedge | 9 Months Ended |
Sep. 30, 2021 | |
Cash Flow Hedge [Abstract] | |
Cash Flow Hedge | Note 11. Cash Flow Hedge The Company designates derivatives as cash flow hedges when they are used to manage exposure to variability in cash flows related to forecasted transactions on variable rate borrowings, such as FHLB borrowings, repurchase agreements, and brokered CDs. The Company had interest rate swaps designated as cash flow hedges with a total notional amount of $20 million at each of September 30, 2021 and December 31, 2020. The swaps were entered into with a counterparty that met the Company’s credit standards, and the agreements contain collateral provisions protecting the at-risk party. The Company believes that the credit risk inherent in the contracts is not significant. The Company had $770,000 of cash pledged as collateral at each of September 30, 2021 and December 31, 2020. Amounts receivable or payable are recognized as accrued under the terms of the agreements. In accordance with FASB ASC 815, Derivatives and Hedging |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Note 12. Revenue Recognition The Company recognizes income in accordance with FASB ASU 2014-09, Revenue from Contracts with Customers (Topic 606), Service charges and fees on deposit accounts The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Interchange and ATM fees The Company earns interchange and ATM fees from debit/credit cardholder transactions conducted through the Visa and ATM payment networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Because the Company acts as an agent and does not control the services rendered to the customers, related costs are netted against the fee income. These costs were included in other operating expenses prior to the adoption of Topic 606. Brokerage fees and commissions Brokerage fees and commissions consist of other recurring revenue streams such as commissions from sales of mutual funds and other investments to customers by a third-party service provider and investment advisor fees. The Company receives commissions from the third-party service provider on a monthly basis based upon customer activity for the month. The investment advisor fees are charged to the customer’s account in advance on the first month of the quarter, and the revenue is recognized over the following three-month period. The following table presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands): Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Noninterest income In-scope of Topic 606: Service charges on deposit accounts $ 341 $ 315 $ 964 $ 1,042 Interchange and ATM fees 330 298 1,037 775 Brokerage fees and commissions 57 53 238 256 Noninterest income (in-scope of Topic 606) 728 666 2,239 2,073 Noninterest income (out-of-scope of Topic 606) 653 806 2,231 2,350 Total noninterest income $ 1,381 $ 1,472 $ 4,470 $ 4,423 |
Leases
Leases | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Leases | Note 13. Leases The Company accounts for leases in accordance with FASB ASU 2016-02, Leases (Topic 842), . renewal options The following table presents operating lease liabilities as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 December 31, 2020 Gross lease liability $ 7,115 $ 8,047 Less: imputed interest (2,070) (2,260) Present value of lease liability $ 5,045 $ 5,787 The Company had no finance or sales type leases as of September 30, 2021 and December 30, 2020. The weighted average remaining lease term and weighted average discount rate for operating leases at September 30, 2021 was 12.9 years and 4.93%, respectively. The weighted average remaining lease term and weighted average discount rate for operating leases at December 31, 2020 was 12.3 years and 4.78%, respectively. Maturities of the gross operating lease liability at September 30, 2021 are as follows (dollars in thousands): 2021 $ 258 2022 600 2023 630 2024 573 2025 552 Thereafter 4,502 Total of future payments $ 7,115 Operating lease costs and sublease rental income for the three months ended September 30, 2021 were $318,000 and $47,000, respectively. Operating lease costs and sublease rental income for the three months ended September 30, 2020 were $317,000 and $27,000, respectively. Operating lease costs and sublease rental income for the nine months ended September 30, 2021 were $949,000 and $176,000, respectively. Operating lease costs and sublease rental income for the nine months ended September 30, 2020 were $952,000 and $82,000, respectively. |
Other Operating Expenses
Other Operating Expenses | 9 Months Ended |
Sep. 30, 2021 | |
Other Operating Expenses [Abstract] | |
Other Operating Expenses | Note 14. Other Operating Expenses Other operating expenses totals for the three and nine month periods of September 30, 2021 and 2020 are presented in the following table. Components of these expenses exceeding 1.0%of the aggregate of total net interest income and total noninterest income for any of the periods presented are stated separately (dollars in thousands). Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Bank franchise tax $ 258 $ 237 $ 772 $ 711 Stationery, printing and supplies 170 167 490 521 Outside vendor fees 220 177 512 604 Legal fees 136 27 596 62 Professional fees 166 95 742 248 Other expenses 848 720 2,622 2,209 Total other operating expenses $ 1,798 $ 1,423 $ 5,734 $ 4,355 On June 2, 2021, the Company entered into a merger agreement with United Bankshares, Inc. (“United”), the parent company of United Bank. Under the merger agreement, United will acquire 100% of the outstanding shares of the Company’s common stock in exchange for shares of United’s common stock. The exchange ratio will be fixed at 0.3173 of United’s shares for each share of the Company. The merger is expected to close in the fourth quarter of 2021, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals and approval by the Company’s shareholders. Upon closing, the Company will merge into United, and Essex Bank will merge into United Bank, with United and United Bank being the surviving entities. There were $147,000 and $717,000 of merger related expenses included in legal and professional fees for the three and nine month periods ended September 30, 2021, respectively. |
Nature of Banking Activities _2
Nature of Banking Activities and Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Nature of Banking Activities and Significant Accounting Policies [Abstract] | |
Organization | Organization Community Bankers Trust Corporation (the “Company”) is headquartered in Richmond, Virginia and is the holding company for Essex Bank (the “Bank”), a Virginia state bank with 24 full-service offices, 18 of which are in Virginia and six of which are in Maryland. The Bank also operates two loan production offices. The Bank will cose its Edgewater and Rockville branches in Maryland on December 3, 2021. The Bank engages in a general commercial banking business and provides a wide range of financial services primarily to individuals, small businesses and larger commercial companies, including individual and commercial demand and time deposit accounts, commercial and industrial loans, consumer and small business loans, real estate and mortgage loans, investment services, on-line and mobile banking products, and cash management services. |
Financial Statements | Financial Statements The consolidated statements presented include accounts of the Company and the Bank, its wholly-owned subsidiary. All material intercompany balances and transactions have been eliminated. The statements should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles (GAAP) and to the general practices within the banking industry. The interim financial statements have not been audited; however, in the opinion of management, all adjustments, consisting of normal accruals, were made that are necessary to present fairly the balance sheet of the Company as of September 30, 2021, the statements of income, comprehensive income and changes in shareholders’ equity for the three and nine months ended September 30, 2021, and the statements of cash flows for the nine months ended September 30, 2021. Results for the three and nine month periods ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. The financial information contained within the statements is, to a significant extent, financial information that is based on measures of the financial effects of transactions and events that have already occurred. A variety of factors could affect the ultimate value that is obtained when either earning income, recognizing an expense, recovering an asset or relieving a liability. The Company uses historical loss factors as one factor in determining the inherent loss that may be present in its loan portfolio. Actual losses could differ significantly from the historical factors that the Company uses. In addition, GAAP itself may change from one previously acceptable method to another method. Although the economics of the Company’s transactions would be the same, the timing of events that would impact its transactions could change. In preparing these financial statements, the Company has evaluated subsequent events and transactions for potential recognition or disclosure through the date the financial statements were issued. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Securities [Abstract] | |
Amortized Costs and Fair Values of Securities Available for Sale and Held to Maturity | Amortized costs and fair values of securities available for sale and held to maturity at September 30, 2021 and December 31, 2020 were as follows (dollars in thousands): September 30, 2021 Gross Unrealized Amortized Cost Gains Losses Fair Value Securities Available for Sale U.S. Treasury securities $ 19,896 $ 66 $ (82) $ 19,880 U.S. Government agencies 52,948 282 (422) 52,808 State, county and municipal 187,999 6,026 (734) 193,291 Mortgage backed securities 37,885 1,163 (140) 38,908 Asset backed securities 45,951 869 (91) 46,729 Corporate bonds 23,749 532 (52) 24,229 Total Securities Available for Sale $ 368,428 $ 8,938 $ (1,521) $ 375,845 Securities Held to Maturity State, county and municipal $ 19,052 792 — 19,844 Total Securities Held to Maturity $ 19,052 $ 792 $ — $ 19,844 December 31, 2020 Gross Unrealized Amortized Cost Gains Losses Fair Value Securities Available for Sale U.S. Treasury securities $ 23,500 $ — $ (1) $ 23,499 U.S. Government agencies 25,880 114 (141) 25,853 State, county and municipal 118,612 7,172 (64) 125,720 Mortgage backed securities 30,434 1,756 (1) 32,189 Asset backed securities 36,841 704 (57) 37,488 Corporate bonds 26,136 480 (18) 26,598 Total Securities Available for Sale $ 261,403 $ 10,226 $ (282) $ 271,347 Securities Held to Maturity State, county and municipal $ 21,176 $ 1,081 $ — $ 22,257 Total Securities Held to Maturity $ 21,176 $ 1,081 $ — $ 22,257 |
Amortized Cost and Fair Value of Securities by Contractual Maturity | Held to Maturity Available for Sale (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 5,073 $ 5,134 $ 18,359 $ 18,561 Due after one year through five years 9,860 10,395 130,547 133,305 Due after five years through ten years 3,867 4,031 186,997 190,805 Due after ten years 252 284 32,525 33,174 Total securities $ 19,052 $ 19,844 $ 368,428 $ 375,845 |
Summary of Realized Gains and Losses on Sales of Securities | Gross realized gains and losses on securities transactions during the three and nine months ended September 30, 2021 and 2020 were as follows (dollars in thousands): Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Gross realized gains $ — $ 79 $ 18 $ 375 Gross realized losses (7) (1) (37) (94) Net securities gain $ (7) $ 78 $ (19) $ 281 |
Summary of Fair Value and Gross Unrealized Losses for Securities Available for Sale | The fair value and gross unrealized losses for securities, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at September 30, 2021 and December 31, 2020 were as follows (dollars in thousands): September 30, 2021 Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Available for Sale U.S. Treasury securities $ 11,993 (82) $ — $ — $ 11,993 $ (82) U.S. Government agencies 27,037 (294) 4,681 (128) 31,718 (422) State, county and municipal 63,267 (668) 1,680 (66) 64,947 (734) Mortgage backed securities 16,786 (140) — — 16,786 (140) Asset backed securities 21,696 (90) 374 (1) 22,070 (91) Corporate bonds 3,517 (52) — — 3,517 (52) Total $ 144,296 $ (1,326) $ 6,735 $ (195) $ 151,031 $ (1,521) December 31, 2020 Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Securities Available for Sale U.S. Treasury securities $ 23,499 $ (1) $ — $ — $ 23,499 $ (1) U.S. Government agencies 6,726 (25) 8,266 (116) 14,992 (141) State, county and municipal 6,203 (49) 301 (15) 6,504 (64) Mortgage backed securities 118 (1) — — 118 (1) Asset backed securities 12,427 (8) 4,410 (49) 16,837 (57) Corporate bonds 7,216 (18) — — 7,216 (18) Total $ 56,189 $ (102) $ 12,977 $ (180) $ 69,166 $ (282) |
Loans and Related Allowance f_2
Loans and Related Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Loans and Related Allowance for Loan Losses [Abstract] | |
Summary of Loans | The Company’s loans, net of deferred fees and costs, at September 30, 2021 and December 31, 2020 were comprised of the following (dollars in thousands): September 30, 2021 December 31, 2020 Amount % of Loans Amount % of Loans Mortgage loans on real estate: Residential 1‑4 family $ 178,099 14.47 % $ 197,228 16.68 % Commercial 542,418 44.06 474,856 40.16 Construction and land development 200,878 16.32 182,277 15.42 Second mortgages 7,078 0.57 6,360 0.54 Multifamily 80,245 6.52 78,158 6.61 Agriculture 7,748 0.63 6,662 0.56 Total real estate loans 1,016,466 82.57 945,541 79.97 Commercial loans 206,801 16.80 225,386 19.06 Consumer installment loans 6,841 0.56 9,996 0.85 All other loans 873 0.07 1,439 0.12 Total loans $ 1,230,981 100.00 % $ 1,182,362 100.00 % |
Summary of Information Related to Impaired Loans | The following table summarizes information related to impaired loans at and for the three and nine months ended September 30, 2021 (dollars in thousands): Three months ended Nine months ended September 30, 2021 September 30, 2021 September 30, 2021 Unpaid Recorded Principal Related Average Interest Average Interest Investment (1) Balance (2) Allowance Investment Recognized Investment Recognized With no related allowance recorded: Mortgage loans on real estate: Residential 1‑4 family $ 302 $ 412 $ — $ 303 $ 3 $ 385 $ 10 Commercial 2,984 3,770 — 3,392 28 3,415 83 Total real estate loans 3,286 4,182 — 3,695 31 3,800 93 Subtotal impaired loans with no valuation allowance 3,286 4,182 — 3,695 31 3,800 93 With an allowance recorded: Mortgage loans on real estate: Residential 1‑4 family 1,982 2,367 581 2,061 11 2,144 32 Commercial 351 720 101 190 3 193 10 Construction and land development 2 4 1 2 — 13 — Agriculture — — — — — 23 — Total real estate loans 2,335 3,091 683 2,253 14 2,373 42 Commercial loans 2,150 2,187 317 1,795 1 1,900 2 Consumer installment loans — — — — — 8 — Subtotal impaired loans with a valuation allowance 4,485 5,278 1,000 4,048 15 4,281 44 Total: Mortgage loans on real estate: Residential 1‑4 family 2,284 2,779 581 2,364 14 2,529 42 Commercial 3,335 4,490 101 3,582 31 3,608 93 Construction and land development 2 4 1 2 — 13 — Agriculture — — — — — 23 — Total real estate loans 5,621 7,273 683 5,948 45 6,173 135 Commercial loans 2,150 2,187 317 1,795 1 1,900 2 Consumer installment loans — — — — — 8 — Total impaired loans $ 7,771 $ 9,460 $ 1,000 $ 7,743 $ 46 $ 8,081 $ 137 (1) The amount of the investment in a loan is not net of a valuation allowance, but does reflect any direct write-down of the investment. (2) The contractual amount due reflects paydowns applied in accordance with loan documents, but does not reflect any direct write-downs or valuation allowances. The following table summarizes information related to impaired loans at December 31, 2020 and for the three and nine months ended September 30, 2020 (dollars in thousands): Three months ended Nine months ended December 31, 2020 September 30, 2020 September 30, 2020 Unpaid Recorded Principal Related Average Interest Average Interest Investment (1) Balance (2) Allowance Investment Recognized Investment Recognized With no related allowance recorded: Mortgage loans on real estate: Residential 1‑4 family $ 624 $ 787 $ — $ 888 $ 7 $ 1,105 $ 22 Commercial 3,458 4,198 — 3,080 34 3,129 101 Construction and land development — — — — — 164 — Multifamily — — — 616 — Total real estate loans 4,082 4,985 — 3,968 41 5,014 123 Commercial loans — — — 175 — 88 — Subtotal impaired loans with no valuation allowance 4,082 4,985 — 4,143 41 5,102 123 With an allowance recorded: Mortgage loans on real estate: Residential 1‑4 family 2,200 2,573 640 2,156 13 1,923 37 Commercial 200 715 57 152 2 195 6 Construction and land development 44 149 12 847 — 798 — Agriculture 45 46 13 51 — 26 — Total real estate loans 2,489 3,483 722 3,206 15 2,942 43 Commercial loans 2,549 2,549 437 1,243 3 1,142 9 Consumer installment loans 19 19 6 15 — 12 — Subtotal impaired loans with a valuation allowance 5,057 6,051 1,165 4,464 18 4,096 52 Total: Mortgage loans on real estate: Residential 1‑4 family 2,824 3,360 640 3,044 20 3,028 59 Commercial 3,658 4,913 57 3,232 36 3,324 107 Construction and land development 44 149 12 847 — 962 — Multifamily — — — — — 616 — Agriculture 45 46 13 51 — 26 — Total real estate loans 6,571 8,468 722 7,174 56 7,956 166 Commercial loans 2,549 2,549 437 1,418 3 1,230 9 Consumer installment loans 19 19 6 15 — 12 — Total impaired loans $ 9,139 $ 11,036 $ 1,165 $ 8,607 $ 59 $ 9,198 $ 175 (1) The amount of the investment in a loan is not net of a valuation allowance, but does reflect any direct write-down of the investment. (2) The contractual amount due reflects paydowns applied in accordance with loan documents, but does not reflect any direct write-downs or valuation allowances. |
Reconciliation of Impaired Loans to Nonaccrual Loans | Troubled debt restructures still accruing interest are loans that management expects to ultimately collect all principal and interest due, but not under the terms of the original contract. A reconciliation of impaired loans to nonaccrual loans at September 30, 2021 and December 31, 2020, is set forth in the table below (dollars in thousands): September 30, 2021 December 31, 2020 Nonaccruals $ 3,770 $ 4,460 Troubled debt restructure and still accruing 4,001 4,679 Total impaired $ 7,771 $ 9,139 |
Age Analysis of Past Due Status of Loans, Excluding PCI Loans | The following tables present an age analysis of past due status of loans by category as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 30 ‑ 89 Days 90+ Days Past Total Past Total Loans Past Due Due and Accruing Nonaccrual Due Current Receivable Mortgage loans on real estate: Residential 1‑4 family $ 816 $ — $ 1,168 $ 1,984 $ 176,115 $ 178,099 Commercial 250 — 602 852 541,566 542,418 Construction and land development — — 2 2 200,876 200,878 Second mortgages 226 — — 226 6,852 7,078 Multifamily — — — — 80,245 80,245 Agriculture — — — — 7,748 7,748 Total real estate loans 1,292 — 1,772 3,064 1,013,402 1,016,466 Commercial loans 91 — 1,998 2,089 204,712 206,801 Consumer installment loans — — — — 6,841 6,841 All other loans — — — — 873 873 Total loans $ 1,383 $ — $ 3,770 $ 5,153 $ 1,225,828 $ 1,230,981 December 31, 2020 30 ‑ 89 Days 90+ Days Past Total Past Total Loans Past Due Due and Accruing Nonaccrual Due Current Receivable Mortgage loans on real estate: Residential 1‑4 family $ 1,324 $ 33 $ 1,357 $ 2,714 $ 194,514 $ 197,228 Commercial 438 — 730 1,168 473,688 474,856 Construction and land development 157 — 44 201 182,076 182,277 Second mortgages 227 — — 227 6,133 6,360 Multifamily — — — — 78,158 78,158 Agriculture — — 45 45 6,617 6,662 Total real estate loans 2,146 33 2,176 4,355 941,186 945,541 Commercial loans 60 — 2,264 2,324 223,062 225,386 Consumer installment loans — 12 20 32 9,964 9,996 All other loans — — — — 1,439 1,439 Total loans $ 2,206 $ 45 $ 4,460 $ 6,711 $ 1,175,651 $ 1,182,362 |
Allowance for Loan Losses on Loans, Excluding PCI Loans, by Segment | Activity in the allowance for loan losses on loans by segment for the three and nine months ended September 30, 2021 and 2020 is presented in the following tables (dollars in thousands): Three Months Ended September 30, 2021 Provision June 30, 2021 Allocation Charge-offs Recoveries September 30, 2021 Mortgage loans on real estate: Residential 1‑4 family $ 2,004 $ (263) $ — $ 24 $ 1,765 Commercial 3,782 514 — 5 4,301 Construction and land development 2,040 (763) — 152 1,429 Second mortgages 20 (10) — 10 20 Multifamily 366 (74) — — 292 Agriculture 43 (10) — — 33 Total real estate loans 8,255 (606) — 191 7,840 Commercial loans 1,482 (242) — — 1,241 Consumer installment loans 110 (2) (49) 31 90 All other loans 8 (3) — — 4 Unallocated 1,151 (397) — — 754 Total loans $ 11,006 $ (1,250) $ (49) $ 222 $ 9,929 Three Months Ended September 30, 2020 Provision June 30, 2020 Allocation Charge-offs Recoveries September 30, 2020 Mortgage loans on real estate: Residential 1‑4 family $ 3,495 $ (954) $ — $ 14 $ 2,555 Commercial 4,612 (1,606) — 5 3,011 Construction and land development 1,342 (254) — 75 1,163 Second mortgages 45 (9) — 2 38 Multifamily 499 28 — — 527 Agriculture 44 7 — — 51 Total real estate loans 10,037 (2,788) — 96 7,345 Commercial loans 2,058 (288) — 19 1,789 Consumer installment loans 110 31 (42) 17 116 All other loans 8 2 — — 10 Unallocated 25 3,043 — — 3,068 Total loans $ 12,238 $ — $ (42) $ 132 $ 12,328 Nine Months Ended September 30, 2021 Provision December 31, 2020 Allocation Charge-offs Recoveries September 30, 2021 Mortgage loans on real estate: Residential 1‑4 family $ 2,638 $ (975) $ (11) $ 113 $ 1,765 Commercial 4,568 (279) — 12 4,301 Construction and land development 2,545 (1,403) — 287 1,429 Second mortgages 18 (18) — 20 20 Multifamily 508 (216) — — 292 Agriculture 40 (7) — — 33 Total real estate loans 10,317 (2,898) (11) 432 7,840 Commercial loans 1,897 (538) (167) 49 1,241 Consumer installment loans 119 35 (174) 110 90 All other loans 7 (3) — 4 Unallocated — 754 — — 754 Total loans $ 12,340 $ (2,650) $ (352) $ 591 $ 9,929 Nine Months Ended September 30, 2020 Provision December 31, 2019 Allocation Charge-offs Recoveries September 30, 2020 Mortgage loans on real estate: Residential 1‑4 family $ 2,685 $ (173) $ — $ 43 $ 2,555 Commercial 2,196 731 — 84 3,011 Construction and land development 1,044 (40) — 159 1,163 Second mortgages 79 (45) — 4 38 Multifamily 248 279 — — 527 Agriculture 38 13 — — 51 Total real estate loans 6,290 765 — 290 7,345 Commercial loans 1,980 331 (608) 86 1,789 Consumer installment loans 114 71 (146) 77 116 All other loans 7 3 — — 10 Unallocated 38 3,030 — — 3,068 Total loans $ 8,429 $ 4,200 $ (754) $ 453 $ 12,328 |
Loans Evaluated for Impairment | September 30, 2021 Allowance for Loan Losses Recorded Investment in Loans Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for Impairment Impairment Total Impairment Impairment Total Mortgage loans on real estate: Residential 1‑4 family $ 581 $ 1,184 $ 1,765 $ 2,284 $ 175,815 $ 178,099 Commercial 101 4,200 4,301 2,150 540,268 542,418 Construction and land development 1 1,428 1,429 2 200,876 200,878 Second mortgages — 20 20 — 7,078 7,078 Multifamily — 292 292 — 80,245 80,245 Agriculture — 33 33 — 7,748 7,748 Total real estate loans 683 7,157 7,840 4,436 1,012,030 1,016,466 Commercial loans 317 924 1,241 3,335 203,466 206,801 Consumer installment loans — 90 90 — 6,841 6,841 All other loans — 4 4 — 873 873 Unallocated — 754 754 — — — Total loans $ 1,000 $ 8,929 $ 9,929 $ 7,771 $ 1,223,210 $ 1,230,981 December 31, 2020 Allowance for Loan Losses Recorded Investment in Loans Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for Impairment Impairment Total Impairment Impairment Total Mortgage loans on real estate: Residential 1‑4 family $ 640 $ 1,998 $ 2,638 $ 2,824 $ 194,404 $ 197,228 Commercial 57 4,511 4,568 3,658 471,198 474,856 Construction and land development 12 2,533 2,545 44 182,233 182,277 Second mortgages — 18 18 — 6,360 6,360 Multifamily — 508 508 — 78,158 78,158 Agriculture 13 27 40 45 6,617 6,662 Total real estate loans 722 9,595 10,317 6,571 938,970 945,541 Commercial loans 437 1,460 1,897 2,549 222,837 225,386 Consumer installment loans 6 113 119 19 9,977 9,996 All other loans — 7 7 — 1,439 1,439 Unallocated — — — — — — Total loans $ 1,165 $ 11,175 $ 12,340 $ 9,139 $ 1,173,223 $ 1,182,362 |
Loans, Excluding PCI Loans, by Credit Quality Indicator | The following tables present the composition of loans by credit quality indicator at September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Special Pass Mention Substandard Doubtful Total Mortgage loans on real estate: Residential 1‑4 family $ 173,361 $ 3,509 $ 1,229 $ — $ 178,099 Commercial 499,588 42,325 505 — 542,418 Construction and land development 197,497 3,379 2 — 200,878 Second mortgages 6,465 613 — — 7,078 Multifamily 80,245 — — — 80,245 Agriculture 6,319 1,429 — — 7,748 Total real estate loans 963,475 51,255 1,736 — 1,016,466 Commercial loans 189,623 13,597 3,581 — 206,801 Consumer installment loans 6,830 11 — — 6,841 All other loans 859 14 — — 873 Total loans $ 1,160,787 $ 64,877 $ 5,317 $ — $ 1,230,981 December 31, 2020 Special Pass Mention Substandard Doubtful Total Mortgage loans on real estate: Residential 1‑4 family $ 189,617 $ 6,253 $ 1,358 $ — $ 197,228 Commercial 433,748 39,001 2,107 — 474,856 Construction and land development 173,668 8,565 44 — 182,277 Second mortgages 5,495 865 — — 6,360 Multifamily 71,923 6,235 — — 78,158 Agriculture 6,208 409 45 — 6,662 Total real estate loans 880,659 61,328 3,554 — 945,541 Commercial loans 199,762 17,843 7,781 — 225,386 Consumer installment loans 9,959 18 19 — 9,996 All other loans 1,424 15 — — 1,439 Total loans $ 1,091,804 $ 79,204 $ 11,354 $ — $ 1,182,362 |
PCI Loans and Related Allowan_2
PCI Loans and Related Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Summary of PCI Loans | thousands): September 30, 2021 December 31, 2020 % of PCI % of PCI Amount Loans Amount Loans Mortgage loans on real estate: Residential 1‑4 family $ 13,984 89.19 % $ 21,720 90.35 % Commercial 386 2.46 429 1.78 Construction and land development 453 2.89 780 3.25 Second mortgages 680 4.34 904 3.76 Multifamily 176 1.12 207 0.86 Total real estate loans 15,679 100.00 24,040 100.00 Total PCI loans $ 15,679 100.00 % $ 24,040 100.00 % |
Covered Loans [Member] | |
Summary of PCI Loans | September 30, 2021 December 31, 2020 % of PCI % of PCI Amount Loans Amount Loans Mortgage loans on real estate: Residential 1‑4 family $ 13,984 89.19 % $ 21,720 90.35 % Commercial 386 2.46 429 1.78 Construction and land development 453 2.89 780 3.25 Second mortgages 680 4.34 904 3.76 Multifamily 176 1.12 207 0.86 Total real estate loans 15,679 100.00 24,040 100.00 Total PCI loans $ 15,679 100.00 % $ 24,040 100.00 % |
Summary of Purchased Credit Impaired Loans Collectively Evaluated for Impairment in the Allowance for Loan Losses | The following table presents information on the PCI loans collectively evaluated for impairment in the allowance for loan losses at September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 December 31, 2020 Allowance Recorded Recorded for loan investment in Allowance for investment in losses loans loan losses loans Mortgage loans on real estate: Residential 1‑4 family $ 156 $ 13,984 $ 156 $ 21,720 Commercial — 386 — 429 Construction and land development — 453 — 780 Second mortgages — 680 — 904 Multifamily — 176 — 207 Total real estate loans 156 15,679 156 24,040 Total PCI loans $ 156 $ 15,679 $ 156 $ 24,040 |
Summary of Changes in the Accretable Yield | The change in the accretable yield balance for the nine months ended September 30, 2021 and the year ended December 31, 2020, is as follows (dollars in thousands): Balance, January 1, 2020 $ 33,466 Accretion (4,024) Reclassification to nonaccretable difference (253) Balance, December 31, 2020 $ 29,189 Accretion (2,310) Reclassification to nonaccretable difference (2,183) Balance, September 30, 2021 $ 24,696 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Other Real Estate Owned [Abstract] | |
Schedule of Real Estate Properties [Table Text Block] | The following table presents the balances of other real estate owned (OREO) at September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 December 31, 2020 Residential 1‑4 family $ 21 $ 21 Construction and land development 234 4,340 Total other real estate owned $ 255 $ 4,361 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Deposits [Abstract] | |
Summary of Interest Bearing Deposits | The following table provides interest bearing deposit information, by type, at September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 December 31, 2020 Interest bearing checking $ 276,222 $ 239,628 MMDA 184,750 154,503 Savings 151,090 124,384 Time deposits less than or equal to $250,000 425,072 452,885 Time deposits over $250,000 115,947 128,400 Total interest bearing deposits $ 1,153,081 $ 1,099,800 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Accumulated Other Comprehensive Income | |
Summary of Accumulated Other Comprehensive (Loss) Income | The following tables present activity net of tax in accumulated other comprehensive income (AOCI) for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands): Three months ended September 30, 2021 Unrealized Defined Gain (Loss) on Total Other Gain (Loss) on Benefit Cash Flow Comprehensive Securities Pension Plan Hedge Income Beginning balance $ 6,579 $ (1,073) $ (333) $ 5,173 Other comprehensive (loss) income before reclassifications (798) — 40 (758) Amounts reclassified from AOCI 5 — — 5 Net current period other comprehensive (loss) income (793) — 40 (753) Ending balance $ 5,786 $ (1,073) $ (293) $ 4,420 Three months ended September 30, 2020 Unrealized Defined Gain (Loss) on Total Other Gain (Loss) on Benefit Cash Flow Comprehensive Securities Pension Plan Hedge Income Beginning balance $ 5,688 $ (886) $ (572) $ 4,230 Other comprehensive income (loss) before reclassifications 1,353 — 37 1,390 Amounts reclassified from AOCI (61) — — (61) Net current period other comprehensive income 1,292 — 37 1,329 Ending balance $ 6,980 $ (886) $ (535) $ 5,559 Nine months ended September 30, 2021 Unrealized Defined Gain (Loss) on Total Other Gain (Loss) on Benefit Cash Flow Comprehensive Securities Pension Plan Hedge Income Beginning balance $ 7,758 $ (1,073) $ (494) $ 6,191 Other comprehensive (loss) income before reclassifications (1,986) — 201 (1,785) Amounts reclassified from AOCI 14 — — 14 Net current period other comprehensive (loss) income (1,972) — 201 (1,771) Ending balance $ 5,786 $ (1,073) $ (293) $ 4,420 Nine months ended September 30, 2020 Unrealized Defined Gain (Loss) on Total Other Gain (Loss) on Benefit Cash Flow Comprehensive Securities Pension Plan Hedge Income Beginning balance $ 2,887 $ (886) $ (36) $ 1,965 Other comprehensive income (loss) before reclassifications 4,312 — (499) 3,813 Amounts reclassified from AOCI (219) — — (219) Net current period other comprehensive income (loss) 4,093 — (499) 3,594 Ending balance $ 6,980 $ (886) $ (535) $ 5,559 |
Effects of Reclassifications Out of AOCI | The following tables present the effects of reclassifications out of AOCI on line items of consolidated income for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands): Affected Line Item in the Unaudited Consolidated Details about AOCI Components Amount Reclassified from AOCI Statement of Income Three months ended September 30, 2021 September 30, 2020 Securities available for sale: Unrealized loss (gains) on securities available for sale $ 7 $ (78) Gain (loss) on securities transactions, net Related tax (benefit) expense (2) 17 Income tax expense $ 5 $ (61) Net of tax Affected Line Item in the Unaudited Consolidated Details about AOCI Components Amount Reclassified from AOCI Statement of Income Nine months ended September 30, 2021 September 30, 2020 Securities available for sale: Unrealized loss (gains) on securities available for sale $ 19 $ (281) Gain (loss) on securities transactions, net Related tax (benefit) expense (5) 62 Income tax expense $ 14 $ (219) Net of tax |
Fair Values of Assets and Lia_2
Fair Values of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Values of Assets and Liabilities [Abstract] | |
Assets and Liabilities Recorded at Fair Value on Recurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Total Level 1 Level 2 Level 3 Investment securities available for sale U.S. Treasury securities $ 19,880 $ — $ 19,880 $ — U.S. Government agencies 52,808 — 52,808 — State, county and municipal 193,291 10,321 182,970 — Mortgage backed securities 38,908 — 38,908 — Asset backed securities 46,729 — 46,729 — Corporate bonds 24,229 — 24,229 — Total investment securities available for sale 375,845 10,321 365,524 — Total assets at fair value $ 375,845 $ 10,321 $ 365,524 $ — Cash flow hedge liability $ 374 $ — $ 374 $ — Total liabilities at fair value $ 374 $ — $ 374 $ — December 31, 2020 Total Level 1 Level 2 Level 3 Investment securities available for sale U.S. Treasury securities $ 23,499 $ 23,499 $ — $ — U.S. Government agencies 25,853 4,034 21,819 — State, county and municipal 125,720 5,945 119,775 — Mortgage backed securities 32,189 5,534 26,655 — Asset backed securities 37,488 9,784 27,704 — Corporate bonds 26,598 500 26,098 — Total investment securities available for sale 271,347 49,296 222,051 — Total assets at fair value $ 271,347 $ 49,296 $ 222,051 $ — Cash flow hedge liability $ 631 $ — $ 631 $ — Total liabilities at fair value $ 631 $ — $ 631 $ — |
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | The following tables present assets measured at fair value on a nonrecurring basis as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Total Level 1 Level 2 Level 3 Impaired loans $ 3,968 $ — $ — $ 3,968 Bank premises and equipment held for sale 1,507 — — 1,507 Other real estate owned 255 — — 255 Total assets at fair value $ 5,730 $ — $ — $ 5,730 Total liabilities at fair value $ — $ — $ — $ — December 31, 2020 Total Level 1 Level 2 Level 3 Impaired loans $ 3,449 $ — $ — $ 3,449 Bank premises and equipment held for sale 1,507 — — 1,507 Other real estate owned 4,361 — — 4,361 Total assets at fair value $ 9,317 $ — $ — $ 9,317 Total liabilities at fair value $ — $ — $ — $ — |
Summary of Fair Value of Financial Instruments | These tables exclude financial instruments for which the carrying value approximates fair value (dollars in thousands): September 30, 2021 Estimated Fair Carrying Value Value Level 1 Level 2 Level 3 Financial assets: Securities held to maturity $ 19,052 $ 19,844 $ — $ 19,844 $ — Loans, net of allowance 1,221,052 1,235,252 — — 1,235,252 PCI loans, net of allowance 15,523 23,624 — — 23,624 Financial liabilities: Interest bearing deposits 1,153,081 1,155,447 — 1,155,447 — Borrowings 71,457 71,963 — 71,963 — December 31, 2020 Estimated Fair Carrying Value Value Level 1 Level 2 Level 3 Financial assets: Securities held to maturity $ 21,176 $ 22,257 $ — $ 22,257 $ — Loans, net of allowance 1,170,022 1,178,764 — — 1,178,764 PCI loans, net of allowance 23,884 32,657 — — 32,657 Financial liabilities: Interest bearing deposits 1,099,800 1,103,112 — 1,103,112 — Borrowings 61,957 62,852 — 62,852 — |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Computation of Earnings per Share | The following table presents basic and diluted EPS for the three and nine months ended September 30, 2021 and 2020 (dollars and shares in thousands, except per share data): Weighted Average Net Income Shares Per (Numerator) (Denominator) Share Amount For the three months September 30, 2021 Basic EPS $ 6,548 22,455 $ 0.29 Effect of dilutive stock awards — 547 (0.01) Diluted EPS $ 6,548 23,002 $ 0.28 For the three months ended September 30, 2020 Basic EPS $ 4,516 22,312 $ 0.20 Effect of dilutive stock awards — 191 — Diluted EPS $ 4,516 22,503 $ 0.20 For the nine months ended September 30, 2021 Basic EPS $ 18,617 22,333 $ 0.83 Effect of dilutive stock awards — 384 (0.01) Diluted EPS $ 18,617 22,717 $ 0.82 For the nine months ended September 30, 2020 Basic EPS $ 10,091 22,339 $ 0.45 Effect of dilutive stock awards — 195 — Diluted EPS $ 10,091 22,534 $ 0.45 |
Employee Benefit Plan (Tables)
Employee Benefit Plan (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Employee Benefit Plan [Abstract] | |
Components of Net Periodic Benefit (Income) Cost for Plan | The following table provides the components of net periodic benefit (income) cost for the plan included in salaries and employee benefits in the consolidated statement of income for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands): Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Interest cost $ 116 $ 33 $ 348 $ 99 Expected return on plan assets (265) (54) (795) (161) Amortization of prior service cost 4 1 12 3 Recognized net actuarial loss 65 12 195 36 Net periodic (income) cost $ (80) $ (8) $ (240) $ (23) |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Noninterest Income, Segregated By Revenue Streams In Scope And Out Of Scope Of Topic 606 | The following table presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands): Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Noninterest income In-scope of Topic 606: Service charges on deposit accounts $ 341 $ 315 $ 964 $ 1,042 Interchange and ATM fees 330 298 1,037 775 Brokerage fees and commissions 57 53 238 256 Noninterest income (in-scope of Topic 606) 728 666 2,239 2,073 Noninterest income (out-of-scope of Topic 606) 653 806 2,231 2,350 Total noninterest income $ 1,381 $ 1,472 $ 4,470 $ 4,423 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Schedule of operating lease liabilities | The following table presents operating lease liabilities as of September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 December 31, 2020 Gross lease liability $ 7,115 $ 8,047 Less: imputed interest (2,070) (2,260) Present value of lease liability $ 5,045 $ 5,787 |
Summary of maturities of the gross operating lease liability | Maturities of the gross operating lease liability at September 30, 2021 are as follows (dollars in thousands): 2021 $ 258 2022 600 2023 630 2024 573 2025 552 Thereafter 4,502 Total of future payments $ 7,115 |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Other Operating Expenses [Abstract] | |
Summary of Other Noninterest Expense | Three months ended Nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Bank franchise tax $ 258 $ 237 $ 772 $ 711 Stationery, printing and supplies 170 167 490 521 Outside vendor fees 220 177 512 604 Legal fees 136 27 596 62 Professional fees 166 95 742 248 Other expenses 848 720 2,622 2,209 Total other operating expenses $ 1,798 $ 1,423 $ 5,734 $ 4,355 |
Nature of Banking Activities _3
Nature of Banking Activities and Significant Accounting Policies (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2021property | |
Organization And Significant Accounting Policies [Line Items] | |
Number Of Full Service Offices | 24 |
Number of Loan Production Offices | 2 |
Virginia | |
Organization And Significant Accounting Policies [Line Items] | |
Number Of Full Service Offices | 18 |
Maryland | |
Organization And Significant Accounting Policies [Line Items] | |
Number Of Full Service Offices | 6 |
Securities (Narrative) (Details
Securities (Narrative) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021USD ($)security | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)security | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Schedule Of Marketable Securities [Line Items] | |||||
Proceeds from sales of securities available for sale | $ 2,500 | $ 4,600 | $ 9,900 | $ 25,200 | |
Investments held having OTTI losses | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of securities with unrealized losses | security | 123 | 123 | |||
Securities with amortized costs | $ 63,900 | $ 63,900 | $ 52,200 | ||
Securities purchased from single issuer other than U.S. Treasury issue and other U.S. Government agencies | $ 0 | $ 0 | $ 0 | ||
Minimum percentage of securities purchased from U.S. Treasury issue and other U.S. Government agencies | 10.00% | 10.00% | |||
U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | |||||
Schedule Of Marketable Securities [Line Items] | |||||
Securities with investment grade | security | 111 | ||||
Asset-backed Securities, Securitized Loans and Receivables [Member] | |||||
Schedule Of Marketable Securities [Line Items] | |||||
Investment grade corporate obligations comprise securities with unrealized losses | security | 8 | ||||
Percentage Of Loans Guaranteed By US Government | 97.00% | 97.00% | |||
Corporate Debt Securities [Member] | |||||
Schedule Of Marketable Securities [Line Items] | |||||
Investment grade corporate obligations comprise securities with unrealized losses | security | 4 | ||||
Federal Reserve Bank Advances [Member] | |||||
Schedule Of Marketable Securities [Line Items] | |||||
Debt Instrument, Collateral Amount | $ 4,500 | $ 4,500 | $ 5,000 |
Securities (Amortized Costs and
Securities (Amortized Costs and Fair Values of Securities Available for Sale and Held to Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | $ 368,428 | $ 261,403 |
Securities Available for Sale, Gross Unrealized Gains | 8,938 | 10,226 |
Securities Available for Sale, Gross Unrealized Losses | (1,521) | (282) |
Securities Available for Sale, Fair Value | 375,845 | 271,347 |
Securities Held to Maturity, Amortized Cost | 19,052 | 21,176 |
Securities Held to Maturity, Gross Unrealized Gains | 792 | 1,081 |
Securities Held to Maturity, Fair Value | 19,844 | 22,257 |
US Treasury securities [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 19,896 | 23,500 |
Securities Available for Sale, Gross Unrealized Gains | 66 | |
Securities Available for Sale, Gross Unrealized Losses | (82) | (1) |
Securities Available for Sale, Fair Value | 19,880 | 23,499 |
US Government Agencies [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 52,948 | 25,880 |
Securities Available for Sale, Gross Unrealized Gains | 282 | 114 |
Securities Available for Sale, Gross Unrealized Losses | (422) | (141) |
Securities Available for Sale, Fair Value | 52,808 | 25,853 |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 37,885 | 30,434 |
Securities Available for Sale, Gross Unrealized Gains | 1,163 | 1,756 |
Securities Available for Sale, Gross Unrealized Losses | (140) | (1) |
Securities Available for Sale, Fair Value | 38,908 | 32,189 |
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 45,951 | 36,841 |
Securities Available for Sale, Gross Unrealized Gains | 869 | 704 |
Securities Available for Sale, Gross Unrealized Losses | (91) | (57) |
Securities Available for Sale, Fair Value | 46,729 | 37,488 |
Corporate bonds [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 23,749 | 26,136 |
Securities Available for Sale, Gross Unrealized Gains | 532 | 480 |
Securities Available for Sale, Gross Unrealized Losses | (52) | (18) |
Securities Available for Sale, Fair Value | 24,229 | 26,598 |
State, County and Municipal [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 187,999 | 118,612 |
Securities Available for Sale, Gross Unrealized Gains | 6,026 | 7,172 |
Securities Available for Sale, Gross Unrealized Losses | (734) | (64) |
Securities Available for Sale, Fair Value | 193,291 | 125,720 |
Securities Held to Maturity, Amortized Cost | 19,052 | 21,176 |
Securities Held to Maturity, Gross Unrealized Gains | 792 | 1,081 |
Securities Held to Maturity, Fair Value | $ 19,844 | $ 22,257 |
Securities (Amortized Cost and
Securities (Amortized Cost and Fair Value of Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Securities [Abstract] | ||
Due in one year or less, Held to Maturity, Amortized Cost | $ 5,073 | |
Due after one year through five years, Held to Maturity, Amortized Cost | 9,860 | |
Due after five years through ten years, Held to Maturity, Amortized Cost | 3,867 | |
Due after ten years, Held to Maturity, Amortized Cost | 252 | |
Total securities, Held to Maturity, Amortized Cost | 19,052 | $ 21,176 |
Due in one year or less, Held to Maturity, Fair Value | 5,134 | |
Due after one year through five years, Held to Maturity, Fair Value | 10,395 | |
Due after five years through ten years, Held to Maturity, Fair Value | 4,031 | |
Due after ten years, Held to Maturity, Fair Value | 284 | |
Securities Held to Maturity, Fair Value | 19,844 | 22,257 |
Due in one year or less, Available for Sale, Amortized Cost | 18,359 | |
Due after one year through five years, Available for Sale, Amortized Cost | 130,547 | |
Due after five years through ten years, Available for Sale, Amortized Cost | 186,997 | |
Due after ten years, Available for Sale, Amortized Cost | 32,525 | |
Securities Available for Sale, Amortized Cost | 368,428 | 261,403 |
Due in one year or less, Available for Sale, Fair Value | 18,561 | |
Due after one year through five years, Available for Sale, Fair Value | 133,305 | |
Due after five years through ten years, Available for Sale, Fair Value | 190,805 | |
Due after ten years, Available for Sale, Fair Value | 33,174 | |
Securities Available for Sale, Fair Value | $ 375,845 | $ 271,347 |
Securities (Summary of Realized
Securities (Summary of Realized Gains and Losses on Sales of Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Securities [Abstract] | ||||
Gross realized gains | $ 79 | $ 18 | $ 375 | |
Gross realized losses | $ (7) | (1) | (37) | (94) |
Net securities gain | $ (7) | $ 78 | $ (19) | $ 281 |
Securities (Summary of Fair Val
Securities (Summary of Fair Value and Gross Unrealized Losses for Securities Available for Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Securities Available for Sale | ||
Fair Value, Less than 12 Months | $ 144,296 | $ 56,189 |
Unrealized Loss, Less than 12 Months | (1,326) | (102) |
Fair Value, 12 Months or More | 6,735 | 12,977 |
Unrealized Loss, 12 Months or More | (195) | (180) |
Fair Value, Total | 151,031 | 69,166 |
Unrealized Loss, Total | (1,521) | (282) |
US Treasury securities [Member] | ||
Securities Available for Sale | ||
Fair Value, Less than 12 Months | 11,993 | 23,499 |
Unrealized Loss, Less than 12 Months | (82) | (1) |
Fair Value, Total | 11,993 | 23,499 |
Unrealized Loss, Total | (82) | (1) |
US Government Agencies [Member] | ||
Securities Available for Sale | ||
Fair Value, Less than 12 Months | 27,037 | 6,726 |
Unrealized Loss, Less than 12 Months | (294) | (25) |
Fair Value, 12 Months or More | 4,681 | 8,266 |
Unrealized Loss, 12 Months or More | (128) | (116) |
Fair Value, Total | 31,718 | 14,992 |
Unrealized Loss, Total | (422) | (141) |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ||
Securities Available for Sale | ||
Fair Value, Less than 12 Months | 118 | |
Unrealized Loss, Less than 12 Months | (1) | |
Fair Value, Total | 118 | |
Unrealized Loss, Total | (1) | |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ||
Securities Available for Sale | ||
Fair Value, Less than 12 Months | 16,786 | |
Unrealized Loss, Less than 12 Months | (140) | |
Fair Value, Total | 16,786 | |
Unrealized Loss, Total | (140) | |
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||
Securities Available for Sale | ||
Fair Value, Less than 12 Months | 21,696 | 12,427 |
Unrealized Loss, Less than 12 Months | (90) | (8) |
Fair Value, 12 Months or More | 374 | 4,410 |
Unrealized Loss, 12 Months or More | (1) | (49) |
Fair Value, Total | 22,070 | 16,837 |
Unrealized Loss, Total | (91) | (57) |
Corporate bonds [Member] | ||
Securities Available for Sale | ||
Fair Value, Less than 12 Months | 3,517 | 7,216 |
Unrealized Loss, Less than 12 Months | (52) | (18) |
Fair Value, Total | 3,517 | 7,216 |
Unrealized Loss, Total | (52) | (18) |
State, County and Municipal [Member] | ||
Securities Available for Sale | ||
Fair Value, Less than 12 Months | 63,267 | 6,203 |
Unrealized Loss, Less than 12 Months | (668) | (49) |
Fair Value, 12 Months or More | 1,680 | 301 |
Unrealized Loss, 12 Months or More | (66) | (15) |
Fair Value, Total | 64,947 | 6,504 |
Unrealized Loss, Total | $ (734) | $ (64) |
Loans and Related Allowance f_3
Loans and Related Allowance for Loan Losses (Narrative) (Details) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021USD ($)loanitem | Sep. 30, 2020USD ($)loanitem | Sep. 30, 2021USD ($)loanitem | Sep. 30, 2020USD ($)loanitem | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | $ 1,230,981,000 | $ 1,230,981,000 | $ 1,182,362,000 | |||||
Allowance for loan losses | 9,929,000 | $ 12,328,000 | 9,929,000 | $ 12,328,000 | $ 11,006,000 | 12,340,000 | $ 12,238,000 | $ 8,429,000 |
Interest income recognized, cash basis | $ 17,000 | $ 185,000 | ||||||
Look back period | item | 8 | 4 | 8 | 4 | ||||
Estimated interest income | $ 50,000 | $ 61,000 | $ 151,000 | $ 152,000 | ||||
Number of TDR loans | loan | 15 | 19 | ||||||
Number of TDR loans defaulted | loan | 0 | 0 | 0 | 0 | ||||
Total borrowing capacity | $ 63,300,000 | $ 63,300,000 | ||||||
Cash [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
1-4 family mortgages pledged as collateral to the Federal Bank Home Loan | 6,500,000 | 6,500,000 | ||||||
Residential 1-4 Family [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Loan component | 116,000 | 116,000 | ||||||
Pre-modification balance | 61,000 | 61,000 | ||||||
Post-modification balance | 61,000 | 61,000 | ||||||
Residential 1-4 Family [Member] | Loans and Finance Receivables [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
1-4 family mortgages pledged as collateral to the Federal Bank Home Loan | 77,000,000 | 77,000,000 | ||||||
Commercial [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Pre-modification balance | $ 438,000 | $ 438,000 | ||||||
Post-modification balance | 438,000 | 438,000 | ||||||
Paycheck Protection Program Loans [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | $ 32,800,000 | $ 32,800,000 | 49,300,000 | |||||
Percentage of loans guaranteed by the USDA | 100.00% | 100.00% | ||||||
Term Of P P P Loans Receivable | 5 years | |||||||
Percentage Of Loans Guaranteed By S B A | 100 | |||||||
Unamortized purchase premium | $ 1,100,000 | $ 1,100,000 | 920,000 | |||||
Allowance for loan losses | 0 | 0 | ||||||
Guaranteed Loans [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | $ 10,400,000 | $ 10,400,000 | $ 10,700,000 | |||||
Percentage of loans guaranteed by the USDA | 100.00% | 100.00% | 100.00% | |||||
Unamortized purchase premium | $ 722,000 | $ 722,000 | $ 804,000,000,000 | |||||
Allowance for loan losses | 0 | 0 | 0 | |||||
Mortgage Loans on Real Estate [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | 1,016,466,000 | 1,016,466,000 | 945,541,000 | |||||
Allowance for loan losses | 7,840,000 | 7,345,000 | 7,840,000 | 7,345,000 | 8,255,000 | 10,317,000 | 10,037,000 | 6,290,000 |
Loan component | 483,000 | 483,000 | ||||||
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | 178,099,000 | 178,099,000 | 197,228,000 | |||||
Allowance for loan losses | 1,765,000 | 2,555,000 | 1,765,000 | 2,555,000 | 2,004,000 | 2,638,000 | 3,495,000 | 2,685,000 |
Mortgage Loans on Real Estate [Member] | Agriculture [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | 7,748,000 | 7,748,000 | 6,662,000 | |||||
Allowance for loan losses | 33,000 | 51,000 | 33,000 | 51,000 | 43,000 | 40,000 | 44,000 | 38,000 |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | 80,245,000 | 80,245,000 | 78,158,000 | |||||
Allowance for loan losses | 292,000 | 527,000 | 292,000 | 527,000 | 366,000 | 508,000 | 499,000 | 248,000 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | 542,418,000 | 542,418,000 | 474,856,000 | |||||
Allowance for loan losses | 4,301,000 | 3,011,000 | 4,301,000 | 3,011,000 | 3,782,000 | 4,568,000 | 4,612,000 | 2,196,000 |
Commercial Loans [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Total loans | 206,801,000 | 206,801,000 | 225,386,000 | |||||
Allowance for loan losses | 1,241,000 | 1,789,000 | 1,241,000 | 1,789,000 | 1,482,000 | $ 1,897,000 | 2,058,000 | 1,980,000 |
Loan component | 221,000 | 221,000 | ||||||
Unallocated [Member] | ||||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||||
Allowance for loan losses | 754,000 | $ 3,068,000 | 754,000 | $ 3,068,000 | $ 1,151,000 | $ 25,000 | $ 38,000 | |
Loan component | $ (560,000) | $ (560,000) |
Loans and Related Allowance f_4
Loans and Related Allowance for Loan Losses (Summary of Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 1,230,981 | $ 1,182,362 |
Percent of loans | 100.00% | 100.00% |
Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 1,016,466 | $ 945,541 |
Percent of loans | 82.57% | 79.97% |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 178,099 | $ 197,228 |
Percent of loans | 14.47% | 16.68% |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 542,418 | $ 474,856 |
Percent of loans | 44.06% | 40.16% |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 200,878 | $ 182,277 |
Percent of loans | 16.32% | 15.42% |
Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 7,078 | $ 6,360 |
Percent of loans | 0.57% | 0.54% |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 80,245 | $ 78,158 |
Percent of loans | 6.52% | 6.61% |
Mortgage Loans on Real Estate [Member] | Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 7,748 | $ 6,662 |
Percent of loans | 0.63% | 0.56% |
Commercial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 206,801 | $ 225,386 |
Percent of loans | 16.80% | 19.06% |
Consumer Installment Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 6,841 | $ 9,996 |
Percent of loans | 0.56% | 0.85% |
All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 873 | $ 1,439 |
Percent of loans | 0.07% | 0.12% |
Loans and Related Allowance f_5
Loans and Related Allowance for Loan Losses (Summary of Information Related to Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | $ 3,286 | $ 3,286 | $ 4,082 | ||
With no related allowance recorded, Unpaid Principal Balance | 4,182 | 4,182 | 4,985 | ||
With a related allowance, Recorded Investment | 4,485 | 4,485 | 5,057 | ||
With a related allowance, Unpaid Principal Balance | 5,278 | 5,278 | 6,051 | ||
Total, Recorded Investment | 7,771 | 7,771 | 9,139 | ||
Total, Unpaid Principal Balance | 9,460 | 9,460 | 11,036 | ||
Related Allowance | 1,000 | 1,000 | 1,165 | ||
With no related allowance recorded, Average Investment | 3,695 | $ 4,143 | 3,800 | $ 5,102 | |
With a related allowance, Average Investment | 4,048 | 4,464 | 4,281 | 4,096 | |
Average Investment | 7,743 | 8,607 | 8,081 | 9,198 | |
With no related allowance recorded, Interest Recognized | 31 | 41 | 93 | 123 | |
With a related allowance, Interest Recognized | 15 | 18 | 44 | 52 | |
Interest Recognized | 46 | 59 | 137 | 175 | |
Mortgage Loans on Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 3,286 | 3,286 | 4,082 | ||
With no related allowance recorded, Unpaid Principal Balance | 4,182 | 4,182 | 4,985 | ||
With a related allowance, Recorded Investment | 2,335 | 2,335 | 2,489 | ||
With a related allowance, Unpaid Principal Balance | 3,091 | 3,091 | 3,483 | ||
Total, Recorded Investment | 5,621 | 5,621 | 6,571 | ||
Total, Unpaid Principal Balance | 7,273 | 7,273 | 8,468 | ||
Related Allowance | 683 | 683 | 722 | ||
With no related allowance recorded, Average Investment | 3,695 | 3,968 | 3,800 | 5,014 | |
With a related allowance, Average Investment | 2,253 | 3,206 | 2,373 | 2,942 | |
Average Investment | 5,948 | 7,174 | 6,173 | 7,956 | |
With no related allowance recorded, Interest Recognized | 31 | 41 | 93 | 123 | |
With a related allowance, Interest Recognized | 14 | 15 | 42 | 43 | |
Interest Recognized | 45 | 56 | 135 | 166 | |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 302 | 302 | 624 | ||
With no related allowance recorded, Unpaid Principal Balance | 412 | 412 | 787 | ||
With a related allowance, Recorded Investment | 1,982 | 1,982 | 2,200 | ||
With a related allowance, Unpaid Principal Balance | 2,367 | 2,367 | 2,573 | ||
Total, Recorded Investment | 2,284 | 2,284 | 2,824 | ||
Total, Unpaid Principal Balance | 2,779 | 2,779 | 3,360 | ||
Related Allowance | 581 | 581 | 640 | ||
With no related allowance recorded, Average Investment | 303 | 888 | 385 | 1,105 | |
With a related allowance, Average Investment | 2,061 | 2,156 | 2,144 | 1,923 | |
Average Investment | 2,364 | 3,044 | 2,529 | 3,028 | |
With no related allowance recorded, Interest Recognized | 3 | 7 | 10 | 22 | |
With a related allowance, Interest Recognized | 11 | 13 | 32 | 37 | |
Interest Recognized | 14 | 20 | 42 | 59 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 2,984 | 2,984 | 3,458 | ||
With no related allowance recorded, Unpaid Principal Balance | 3,770 | 3,770 | 4,198 | ||
With a related allowance, Recorded Investment | 351 | 351 | 200 | ||
With a related allowance, Unpaid Principal Balance | 720 | 720 | 715 | ||
Total, Recorded Investment | 3,335 | 3,335 | 3,658 | ||
Total, Unpaid Principal Balance | 4,490 | 4,490 | 4,913 | ||
Related Allowance | 101 | 101 | 57 | ||
With no related allowance recorded, Average Investment | 3,392 | 3,080 | 3,415 | 3,129 | |
With a related allowance, Average Investment | 190 | 152 | 193 | 195 | |
Average Investment | 3,582 | 3,232 | 3,608 | 3,324 | |
With no related allowance recorded, Interest Recognized | 28 | 34 | 83 | 101 | |
With a related allowance, Interest Recognized | 3 | 2 | 10 | 6 | |
Interest Recognized | 31 | 36 | 93 | 107 | |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance, Recorded Investment | 2 | 2 | 44 | ||
With a related allowance, Unpaid Principal Balance | 4 | 4 | 149 | ||
Total, Recorded Investment | 2 | 2 | 44 | ||
Total, Unpaid Principal Balance | 4 | 4 | 149 | ||
Related Allowance | 1 | 1 | 12 | ||
With no related allowance recorded, Average Investment | 164 | ||||
With a related allowance, Average Investment | 2 | 847 | 13 | 798 | |
Average Investment | 2 | 847 | 13 | 962 | |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance recorded, Average Investment | 616 | ||||
Average Investment | 616 | ||||
Mortgage Loans on Real Estate [Member] | Agriculture [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance recorded, Recorded Investment | 45 | ||||
With no related allowance recorded, Unpaid Principal Balance | 46 | ||||
Total, Recorded Investment | 45 | ||||
Total, Unpaid Principal Balance | 46 | ||||
Related Allowance | 13 | ||||
With a related allowance, Average Investment | 51 | 23 | 26 | ||
Average Investment | 51 | 23 | 26 | ||
Commercial Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance, Recorded Investment | 2,150 | 2,150 | 2,549 | ||
With a related allowance, Unpaid Principal Balance | 2,187 | 2,187 | 2,549 | ||
Total, Recorded Investment | 2,150 | 2,150 | 2,549 | ||
Total, Unpaid Principal Balance | 2,187 | 2,187 | 2,549 | ||
Related Allowance | 317 | 317 | 437 | ||
With no related allowance recorded, Average Investment | 175 | 88 | |||
With a related allowance, Average Investment | 1,795 | 1,243 | 1,900 | 1,142 | |
Average Investment | 1,795 | 1,418 | 1,900 | 1,230 | |
With a related allowance, Interest Recognized | 1 | 3 | 2 | 9 | |
Interest Recognized | $ 1 | 3 | 2 | 9 | |
Consumer Installment Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance, Recorded Investment | 19 | ||||
With a related allowance, Unpaid Principal Balance | 19 | ||||
Total, Recorded Investment | 19 | ||||
Total, Unpaid Principal Balance | 19 | ||||
Related Allowance | $ 6 | ||||
With a related allowance, Average Investment | 15 | 8 | 12 | ||
Average Investment | $ 15 | $ 8 | $ 12 |
Loans and Related Allowance f_6
Loans and Related Allowance for Loan Losses (Reconciliation of Impaired Loans to Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loans and Related Allowance for Loan Losses [Abstract] | ||
Nonaccruals | $ 3,770 | $ 4,460 |
Trouble debt restructure and still accruing | 4,001 | 4,679 |
Total, Recorded Investment | $ 7,771 | $ 9,139 |
Loans and Related Allowance f_7
Loans and Related Allowance for Loan Losses (Age Analysis of Past Due Status of Loans, Excluding PCI Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | $ 3,770 | $ 4,460 |
Total loans | 1,230,981 | 1,182,362 |
Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,225,828 | 1,175,651 |
Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 5,153 | 6,711 |
30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,383 | 2,206 |
90+ Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 45 | |
Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 1,772 | 2,176 |
Total loans | 1,016,466 | 945,541 |
Mortgage Loans on Real Estate [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,013,402 | 941,186 |
Mortgage Loans on Real Estate [Member] | Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 3,064 | 4,355 |
Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,292 | 2,146 |
Mortgage Loans on Real Estate [Member] | 90+ Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 33 | |
Commercial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 1,998 | 2,264 |
Total loans | 206,801 | 225,386 |
Commercial Loans [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 204,712 | 223,062 |
Commercial Loans [Member] | Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 2,089 | 2,324 |
Commercial Loans [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 91 | 60 |
Consumer Installment Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 20 | |
Total loans | 6,841 | 9,996 |
Consumer Installment Loans [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 6,841 | 9,964 |
Consumer Installment Loans [Member] | Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 32 | |
Consumer Installment Loans [Member] | 90+ Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 12 | |
All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 873 | 1,439 |
All Other Loans [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 873 | 1,439 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 1,168 | 1,357 |
Total loans | 178,099 | 197,228 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 176,115 | 194,514 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,984 | 2,714 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 816 | 1,324 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | 90+ Days Past Due and Accruing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 33 | |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 602 | 730 |
Total loans | 542,418 | 474,856 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 541,566 | 473,688 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 852 | 1,168 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 250 | 438 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 2 | 44 |
Total loans | 200,878 | 182,277 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 200,876 | 182,076 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 2 | 201 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 157 | |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 7,078 | 6,360 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 6,852 | 6,133 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 226 | 227 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 226 | 227 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 80,245 | 78,158 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 80,245 | 78,158 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 45 | |
Total loans | 7,748 | 6,662 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 7,748 | 6,617 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | Financial Asset, Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 45 | |
Loans Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,230,981 | 1,182,362 |
Loans Excluding PCI Loans [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,016,466 | 945,541 |
Loans Excluding PCI Loans [Member] | Commercial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 206,801 | 225,386 |
Loans Excluding PCI Loans [Member] | Consumer Installment Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 6,841 | 9,996 |
Loans Excluding PCI Loans [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 873 | 1,439 |
Loans Excluding PCI Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 178,099 | 197,228 |
Loans Excluding PCI Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 542,418 | 474,856 |
Loans Excluding PCI Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 200,878 | 182,277 |
Loans Excluding PCI Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 7,078 | 6,360 |
Loans Excluding PCI Loans [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 80,245 | 78,158 |
Loans Excluding PCI Loans [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 7,748 | $ 6,662 |
Loans and Related Allowance f_8
Loans and Related Allowance for Loan Losses (Allowance for Loan Losses on Loans, Excluding PCI Loans, by Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | $ 11,006 | $ 12,238 | $ 12,340 | $ 8,429 |
Provision Allocation | (1,250) | (2,650) | 4,200 | |
Charge-offs | (49) | (42) | (352) | (754) |
Recoveries | 222 | 132 | 591 | 453 |
Allowance for loan losses, End of Period | 9,929 | 12,328 | 9,929 | 12,328 |
Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 8,255 | 10,037 | 10,317 | 6,290 |
Provision Allocation | (606) | (2,788) | (2,898) | 765 |
Charge-offs | (11) | |||
Recoveries | 191 | 96 | 432 | 290 |
Allowance for loan losses, End of Period | 7,840 | 7,345 | 7,840 | 7,345 |
Commercial Loans [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 1,482 | 2,058 | 1,897 | 1,980 |
Provision Allocation | (242) | (288) | (538) | 331 |
Charge-offs | (167) | (608) | ||
Recoveries | 19 | 49 | 86 | |
Allowance for loan losses, End of Period | 1,241 | 1,789 | 1,241 | 1,789 |
Consumer Installment Loans [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 110 | 110 | 119 | 114 |
Provision Allocation | (2) | 31 | 35 | 71 |
Charge-offs | (49) | (42) | (174) | (146) |
Recoveries | 31 | 17 | 110 | 77 |
Allowance for loan losses, End of Period | 90 | 116 | 90 | 116 |
All Other Loans [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 8 | 8 | 7 | 7 |
Provision Allocation | (3) | 2 | (3) | 3 |
Allowance for loan losses, End of Period | 4 | 10 | 4 | 10 |
Unallocated [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 1,151 | 25 | 38 | |
Provision Allocation | (397) | 3,043 | 754 | 3,030 |
Allowance for loan losses, End of Period | 754 | 3,068 | 754 | 3,068 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 2,004 | 3,495 | 2,638 | 2,685 |
Provision Allocation | (263) | (954) | (975) | (173) |
Charge-offs | (11) | |||
Recoveries | 24 | 14 | 113 | 43 |
Allowance for loan losses, End of Period | 1,765 | 2,555 | 1,765 | 2,555 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 3,782 | 4,612 | 4,568 | 2,196 |
Provision Allocation | 514 | (1,606) | (279) | 731 |
Recoveries | 5 | 5 | 12 | 84 |
Allowance for loan losses, End of Period | 4,301 | 3,011 | 4,301 | 3,011 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 2,040 | 1,342 | 2,545 | 1,044 |
Provision Allocation | (763) | (254) | (1,403) | (40) |
Recoveries | 152 | 75 | 287 | 159 |
Allowance for loan losses, End of Period | 1,429 | 1,163 | 1,429 | 1,163 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 20 | 45 | 18 | 79 |
Provision Allocation | (10) | (9) | (18) | (45) |
Recoveries | 10 | 2 | 20 | 4 |
Allowance for loan losses, End of Period | 20 | 38 | 20 | 38 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 366 | 499 | 508 | 248 |
Provision Allocation | (74) | 28 | (216) | 279 |
Allowance for loan losses, End of Period | 292 | 527 | 292 | 527 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 43 | 44 | 40 | 38 |
Provision Allocation | (10) | 7 | (7) | 13 |
Allowance for loan losses, End of Period | $ 33 | $ 51 | $ 33 | $ 51 |
Loans and Related Allowance f_9
Loans and Related Allowance for Loan Losses (Loans Evaluated for Impairment) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | $ 9,929 | $ 11,006 | $ 12,340 | $ 12,328 | $ 12,238 | $ 8,429 |
Total Loans | 1,230,981 | 1,182,362 | ||||
Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 1,000 | 1,165 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 8,929 | 11,175 | ||||
Allowance for Loan Losses | 9,929 | 12,340 | ||||
Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | 7,771 | 9,139 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 1,223,210 | 1,173,223 | ||||
Total Loans | 1,230,981 | 1,182,362 | ||||
Mortgage Loans on Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 7,840 | 8,255 | 10,317 | 7,345 | 10,037 | 6,290 |
Total Loans | 1,016,466 | 945,541 | ||||
Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 683 | 722 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 7,157 | 9,595 | ||||
Allowance for Loan Losses | 7,840 | 10,317 | ||||
Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | 4,436 | 6,571 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 1,012,030 | 938,970 | ||||
Total Loans | 1,016,466 | 945,541 | ||||
Commercial Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 1,241 | 1,482 | 1,897 | 1,789 | 2,058 | 1,980 |
Total Loans | 206,801 | 225,386 | ||||
Commercial Loans [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 317 | 437 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 924 | 1,460 | ||||
Allowance for Loan Losses | 1,241 | 1,897 | ||||
Commercial Loans [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | 3,335 | 2,549 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 203,466 | 222,837 | ||||
Total Loans | 206,801 | 225,386 | ||||
Consumer Installment Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 90 | 110 | 119 | 116 | 110 | 114 |
Total Loans | 6,841 | 9,996 | ||||
Consumer Installment Loans [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 6 | |||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 90 | 113 | ||||
Allowance for Loan Losses | 90 | 119 | ||||
Consumer Installment Loans [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | 19 | |||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 6,841 | 9,977 | ||||
Total Loans | 6,841 | 9,996 | ||||
All Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 4 | 8 | 7 | 10 | 8 | 7 |
Total Loans | 873 | 1,439 | ||||
All Other Loans [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 4 | 7 | ||||
Allowance for Loan Losses | 4 | 7 | ||||
All Other Loans [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 873 | 1,439 | ||||
Total Loans | 873 | 1,439 | ||||
Unallocated [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 754 | 1,151 | 3,068 | 25 | 38 | |
Unallocated [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 754 | |||||
Allowance for Loan Losses | 754 | |||||
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 1,765 | 2,004 | 2,638 | 2,555 | 3,495 | 2,685 |
Total Loans | 178,099 | 197,228 | ||||
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 581 | 640 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,184 | 1,998 | ||||
Allowance for Loan Losses | 1,765 | 2,638 | ||||
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | 2,284 | 2,824 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 175,815 | 194,404 | ||||
Total Loans | 178,099 | 197,228 | ||||
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 4,301 | 3,782 | 4,568 | 3,011 | 4,612 | 2,196 |
Total Loans | 542,418 | 474,856 | ||||
Commercial [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 101 | 57 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 4,200 | 4,511 | ||||
Allowance for Loan Losses | 4,301 | 4,568 | ||||
Commercial [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | 2,150 | 3,658 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 540,268 | 471,198 | ||||
Total Loans | 542,418 | 474,856 | ||||
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 1,429 | 2,040 | 2,545 | 1,163 | 1,342 | 1,044 |
Total Loans | 200,878 | 182,277 | ||||
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 1 | 12 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,428 | 2,533 | ||||
Allowance for Loan Losses | 1,429 | 2,545 | ||||
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | 2 | 44 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 200,876 | 182,233 | ||||
Total Loans | 200,878 | 182,277 | ||||
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 20 | 20 | 18 | 38 | 45 | 79 |
Total Loans | 7,078 | 6,360 | ||||
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 20 | 18 | ||||
Allowance for Loan Losses | 20 | 18 | ||||
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 7,078 | 6,360 | ||||
Total Loans | 7,078 | 6,360 | ||||
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 292 | 366 | 508 | 527 | 499 | 248 |
Total Loans | 80,245 | 78,158 | ||||
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 292 | 508 | ||||
Allowance for Loan Losses | 292 | 508 | ||||
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 80,245 | 78,158 | ||||
Total Loans | 80,245 | 78,158 | ||||
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | 33 | $ 43 | 40 | $ 51 | $ 44 | $ 38 |
Total Loans | 7,748 | 6,662 | ||||
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 13 | |||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 33 | 27 | ||||
Allowance for Loan Losses | 33 | 40 | ||||
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | 45 | |||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 7,748 | 6,617 | ||||
Total Loans | $ 7,748 | $ 6,662 |
Loans and Related Allowance _10
Loans and Related Allowance for Loan Losses (Loans, Excluding PCI Loans, by Credit Quality Indicator) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | $ 1,230,981 | $ 1,182,362 |
Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,016,466 | 945,541 |
Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 206,801 | 225,386 |
Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 6,841 | 9,996 |
All Other Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 873 | 1,439 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 178,099 | 197,228 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 542,418 | 474,856 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 200,878 | 182,277 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,078 | 6,360 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 80,245 | 78,158 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,748 | 6,662 |
Loans Excluding PCI Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,230,981 | 1,182,362 |
Loans Excluding PCI Loans [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,016,466 | 945,541 |
Loans Excluding PCI Loans [Member] | Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 206,801 | 225,386 |
Loans Excluding PCI Loans [Member] | Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 6,841 | 9,996 |
Loans Excluding PCI Loans [Member] | All Other Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 873 | 1,439 |
Loans Excluding PCI Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 178,099 | 197,228 |
Loans Excluding PCI Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 542,418 | 474,856 |
Loans Excluding PCI Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 200,878 | 182,277 |
Loans Excluding PCI Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,078 | 6,360 |
Loans Excluding PCI Loans [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 80,245 | 78,158 |
Loans Excluding PCI Loans [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,748 | 6,662 |
Loans Excluding PCI Loans [Member] | Pass [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,160,787 | 1,091,804 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 963,475 | 880,659 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 189,623 | 199,762 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 6,830 | 9,959 |
Loans Excluding PCI Loans [Member] | Pass [Member] | All Other Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 859 | 1,424 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 173,361 | 189,617 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 499,588 | 433,748 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 197,497 | 173,668 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 6,465 | 5,495 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 80,245 | 71,923 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 6,319 | 6,208 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 64,877 | 79,204 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 51,255 | 61,328 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 13,597 | 17,843 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 11 | 18 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | All Other Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 14 | 15 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 3,509 | 6,253 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 42,325 | 39,001 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 3,379 | 8,565 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 613 | 865 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 6,235 | |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,429 | 409 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 5,317 | 11,354 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,736 | 3,554 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 3,581 | 7,781 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 19 | |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,229 | 1,358 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 505 | 2,107 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | $ 2 | 44 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | $ 45 |
PCI Loans and Related Allowan_3
PCI Loans and Related Allowance for Loan Losses (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Jan. 30, 2009 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased credit impaired (PCI) loans | $ 15,679 | $ 15,679 | $ 24,040 | |||
Allowance for loan losses, PCI loans | 0 | $ 0 | 0 | $ 0 | ||
Purchase Credit Impaired (PCI) Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased credit impaired (PCI) loans | 15,679 | 15,679 | 24,040 | |||
Covered Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Purchased credit impaired (PCI) loans | $ 198,300 | |||||
Loans met criteria of ASC 310-30 | 49,100 | |||||
Outstanding contractual balance of PCI loans | $ 33,600 | $ 33,600 | $ 43,200 | |||
Covered Loans [Member] | Residential 1-4 Family [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Remaining of loans acquired | $ 149,100 |
PCI Loans and Related Allowan_4
PCI Loans and Related Allowance for Loan Losses (Summary of Covered Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | $ 15,679 | $ 24,040 |
Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | 15,679 | 24,040 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | 13,984 | 21,720 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | 386 | 429 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | 453 | 780 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | 680 | 904 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | 176 | 207 |
Purchase Credit Impaired (PCI) Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | $ 15,679 | $ 24,040 |
Percent of purchased credit impaired loan | 100.00% | 100.00% |
Purchase Credit Impaired (PCI) Loans [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | $ 15,679 | $ 24,040 |
Percent of purchased credit impaired loan | 100.00% | 100.00% |
Purchase Credit Impaired (PCI) Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | $ 13,984 | $ 21,720 |
Percent of purchased credit impaired loan | 89.19% | 90.35% |
Purchase Credit Impaired (PCI) Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | $ 386 | $ 429 |
Percent of purchased credit impaired loan | 2.46% | 1.78% |
Purchase Credit Impaired (PCI) Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | $ 453 | $ 780 |
Percent of purchased credit impaired loan | 2.89% | 3.25% |
Purchase Credit Impaired (PCI) Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | $ 680 | $ 904 |
Percent of purchased credit impaired loan | 4.34% | 3.76% |
Purchase Credit Impaired (PCI) Loans [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased credit impaired (PCI) loans | $ 176 | $ 207 |
Percent of purchased credit impaired loan | 1.12% | 0.86% |
PCI Loans and Related Allowan_5
PCI Loans and Related Allowance for Loan Losses (Summary of Covered Loans Collectively Evaluated for Impairment in the Allowance for Loan Losses) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | $ 156 | $ 156 |
Recorded investment in loans | 15,679 | 24,040 |
Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | 156 | 156 |
Recorded investment in loans | 15,679 | 24,040 |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | 156 | 156 |
Recorded investment in loans | 13,984 | 21,720 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 386 | 429 |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 453 | 780 |
Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 680 | 904 |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 176 | 207 |
Purchase Credit Impaired (PCI) Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | 156 | 156 |
Recorded investment in loans | 15,679 | 24,040 |
Purchase Credit Impaired (PCI) Loans [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 15,679 | 24,040 |
Purchase Credit Impaired (PCI) Loans [Member] | Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 13,984 | 21,720 |
Purchase Credit Impaired (PCI) Loans [Member] | Mortgage Loans on Real Estate [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 386 | 429 |
Purchase Credit Impaired (PCI) Loans [Member] | Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 453 | 780 |
Purchase Credit Impaired (PCI) Loans [Member] | Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | 680 | 904 |
Purchase Credit Impaired (PCI) Loans [Member] | Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment in loans | $ 176 | $ 207 |
PCI Loans and Related Allowan_6
PCI Loans and Related Allowance for Loan Losses (Summary of Changes in Accretable Yield) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
PCI Loans and Related Allowance for Loan Losses [Abstract] | ||
Beginning Balance | $ 29,189 | $ 33,466 |
Accretion | (2,310) | (4,024) |
Reclassification to nonaccretable difference | (2,183) | (253) |
Ending Balance | $ 24,696 | $ 29,189 |
Other Real Estate Owned (Schedu
Other Real Estate Owned (Schedule of Other Real Estate Owned) (Details) - USD ($) | Apr. 07, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||||
Other real estate owned | $ 3,800,000 | $ 255,000 | $ 255,000 | $ 4,361,000 | ||
Other real estate expense, net | $ 435,000 | 5,000 | $ 87,000 | (415,000) | $ 89,000 | |
Residential 1-4 Family [Member] | ||||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||||
Other real estate owned | 21,000 | 21,000 | 21,000 | |||
Construction and Land Development [Member] | ||||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||||
Other real estate owned | 234,000 | 234,000 | $ 4,340,000 | |||
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ||||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||||
Residential 1-4 family loans and purchased credit impaired loans in the process of foreclosure | $ 239,000 | $ 239,000 |
Deposits (Summary of Interest B
Deposits (Summary of Interest Bearing Deposits) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
Interest bearing checking | $ 276,222 | $ 239,628 |
MMDA | 184,750 | 154,503 |
Savings | 151,090 | 124,384 |
Time deposits less than or equal to $250,000 | 425,072 | 452,885 |
Time deposits over $250,000 | 115,947 | 128,400 |
Total interest bearing deposits | $ 1,153,081 | $ 1,099,800 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Summary of Accumulated Other Comprehensive (Loss) Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ 5,173 | $ 4,230 | $ 6,191 | $ 1,965 |
Other comprehensive income (loss) before reclassifications | (758) | 1,390 | (1,785) | 3,813 |
Amounts reclassified from AOCI | 5 | (61) | 14 | (219) |
Net current period other comprehensive income (loss) | (753) | 1,329 | (1,771) | 3,594 |
Ending balance | 4,420 | 5,559 | 4,420 | 5,559 |
Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Net current period other comprehensive income (loss) | (753) | 1,329 | (1,771) | 3,594 |
Unrealized Gain (Loss) on Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 6,579 | 5,688 | 7,758 | 2,887 |
Other comprehensive income (loss) before reclassifications | (798) | 1,353 | (1,986) | 4,312 |
Amounts reclassified from AOCI | 5 | (61) | 14 | (219) |
Net current period other comprehensive income (loss) | (793) | 1,292 | (1,972) | 4,093 |
Ending balance | 5,786 | 6,980 | 5,786 | 6,980 |
Defined Benefit Pension Plan [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (1,073) | (886) | (1,073) | (886) |
Ending balance | (1,073) | (886) | (1,073) | (886) |
Gain (Loss) on Cash Flow Hedges [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (333) | (572) | (494) | (36) |
Other comprehensive income (loss) before reclassifications | 40 | 37 | 201 | (499) |
Net current period other comprehensive income (loss) | 40 | 37 | 201 | (499) |
Ending balance | $ (293) | $ (535) | $ (293) | $ (535) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Effects of Reclassifications Out of AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gain (loss) on securities transactions, net | $ (7) | $ 78 | $ (19) | $ 281 |
Income tax expense | 1,768 | 1,143 | 4,816 | 2,450 |
Total amount recognized | (5) | 61 | (14) | 219 |
Unrealized Gain (Loss) on Securities [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Total amount recognized | (5) | 61 | (14) | 219 |
Amount Reclassified from AOCI [Member] | Unrealized Gain (Loss) on Securities [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gain (loss) on securities transactions, net | 7 | (78) | 19 | (281) |
Income tax expense | (2) | 17 | (5) | 62 |
Total amount recognized | $ 5 | $ (61) | $ 14 | $ (219) |
Fair Values of Assets and Lia_3
Fair Values of Assets and Liabilities (Narrative) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair value appraisal minimum period | 18 months | |
Adjustment to selling costs, market deterioration, any known liens against collateral, percentage | 10.00% | |
Weighted average adjustments related to impaired loans | 12.30% | |
Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Eligibility criteria of classified loans for appraisal by professional appraiser | $ 250,000 | |
Other Real Estate Owned, Estimated Disposal Cost, Percent | 2.00% | |
Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Other Real Estate Owned, Estimated Disposal Cost, Percent | 10.00% |
Fair Values of Assets and Lia_4
Fair Values of Assets and Liabilities (Assets and Liabilities Recorded at Fair Value on Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | $ 375,845 | $ 271,347 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 375,845 | 271,347 |
Total assets at fair value | 375,845 | 271,347 |
Cash flow hedge liability | 374 | 631 |
Total liabilities at fair value | 374 | 631 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 10,321 | 49,296 |
Total assets at fair value | 10,321 | 49,296 |
Cash flow hedge liability | ||
Total liabilities at fair value | ||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 365,524 | 222,051 |
Total assets at fair value | 365,524 | 222,051 |
Cash flow hedge liability | 374 | 631 |
Total liabilities at fair value | 374 | 631 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | ||
Total assets at fair value | ||
Cash flow hedge liability | ||
Total liabilities at fair value | ||
US Treasury securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 19,880 | 23,499 |
US Treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 19,880 | 23,499 |
US Treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 23,499 | |
US Treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 19,880 | |
US Treasury securities [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | ||
US Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 52,808 | 25,853 |
US Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 52,808 | 25,853 |
US Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 4,034 | |
US Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 52,808 | 21,819 |
US Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | ||
State, County and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 193,291 | 125,720 |
State, County and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 193,291 | 125,720 |
State, County and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 10,321 | 5,945 |
State, County and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 182,970 | 119,775 |
State, County and Municipal [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | ||
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 38,908 | 32,189 |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 38,908 | 32,189 |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 5,534 | |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 38,908 | 26,655 |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | ||
Asset-backed Securities, Securitized Loans and Receivables [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 46,729 | 37,488 |
Asset-backed Securities, Securitized Loans and Receivables [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 46,729 | 37,488 |
Asset-backed Securities, Securitized Loans and Receivables [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 9,784 | |
Asset-backed Securities, Securitized Loans and Receivables [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 46,729 | 27,704 |
Asset-backed Securities, Securitized Loans and Receivables [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | ||
Corporate bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 24,229 | 26,598 |
Corporate bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 24,229 | 26,598 |
Corporate bonds [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 500 | |
Corporate bonds [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 24,229 | 26,098 |
Corporate bonds [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale |
Fair Values of Assets and Lia_5
Fair Values of Assets and Liabilities (Assets and Liabilities Measured at Fair Value on Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Apr. 07, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Bank premises and equipment held for sale | $ 1,507 | $ 1,507 | |
Other real estate owned | 255 | $ 3,800 | 4,361 |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 3,968 | 3,449 | |
Bank premises and equipment held for sale | 1,507 | 1,507 | |
Other real estate owned | 255 | 4,361 | |
Total assets at fair value | 5,730 | 9,317 | |
Total liabilities at fair value | |||
Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | |||
Bank premises and equipment held for sale | |||
Other real estate owned | |||
Total assets at fair value | |||
Total liabilities at fair value | |||
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | |||
Bank premises and equipment held for sale | |||
Other real estate owned | |||
Total assets at fair value | |||
Total liabilities at fair value | |||
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 3,968 | 3,449 | |
Bank premises and equipment held for sale | 1,507 | 1,507 | |
Other real estate owned | 255 | 4,361 | |
Total assets at fair value | 5,730 | 9,317 | |
Total liabilities at fair value |
Fair Values of Assets and Lia_6
Fair Values of Assets and Liabilities (Summary of Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financial assets: | ||
Securities held to maturity | $ 19,844 | $ 22,257 |
Purchased credit impaired (PCI) loans | 15,679 | 24,040 |
Carrying Value [Member] | ||
Financial assets: | ||
Securities held to maturity | 19,052 | 21,176 |
Loans, net of allowance | 1,221,052 | 1,170,022 |
Purchased credit impaired (PCI) loans | 15,523 | 23,884 |
Financial liabilities: | ||
Interest bearing deposits | 1,153,081 | 1,099,800 |
Borrowings | 71,457 | 61,957 |
Estimated Fair Value [Member] | ||
Financial assets: | ||
Securities held to maturity | 19,844 | 22,257 |
Loans, net of allowance | 1,235,252 | 1,178,764 |
Purchased credit impaired (PCI) loans | 23,624 | 32,657 |
Financial liabilities: | ||
Interest bearing deposits | 1,155,447 | 1,103,112 |
Borrowings | 71,963 | 62,852 |
Level 1 [Member] | Estimated Fair Value [Member] | ||
Financial assets: | ||
Securities held to maturity | ||
Loans, net of allowance | ||
Purchased credit impaired (PCI) loans | ||
Financial liabilities: | ||
Interest bearing deposits | ||
Borrowings | ||
Level 2 [Member] | Estimated Fair Value [Member] | ||
Financial assets: | ||
Securities held to maturity | 19,844 | 22,257 |
Loans, net of allowance | ||
Purchased credit impaired (PCI) loans | ||
Financial liabilities: | ||
Interest bearing deposits | 1,155,447 | 1,103,112 |
Borrowings | 71,963 | 62,852 |
Level 3 [Member] | Estimated Fair Value [Member] | ||
Financial assets: | ||
Securities held to maturity | ||
Loans, net of allowance | 1,235,252 | 1,178,764 |
Purchased credit impaired (PCI) loans | 23,624 | 32,657 |
Financial liabilities: | ||
Interest bearing deposits | ||
Borrowings |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||
Anti-dilutive common shares | 0 | 1,400,000 | 0 | 1,400,000 |
Earnings Per Share (Computation
Earnings Per Share (Computation of Earnings per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||
Basic EPS, Net Income (Numerator) | $ 6,548 | $ 4,516 | $ 18,617 | $ 10,091 |
Diluted EPS, Net Income (Numerator) | $ 6,548 | $ 4,516 | $ 18,617 | $ 10,091 |
Basic EPS , Weighted Average Shares (Denominator) | 22,455 | 22,312 | 22,333 | 22,339 |
Effect of dilutive stock awards, Weighted Average Shares (Denominator) | 547 | 191 | 384 | 195 |
Diluted EPS, Weighted Average Shares (Denominator) | 23,002 | 22,503 | 22,717 | 22,534 |
Basic EPS, Per Share Amount | $ 0.29 | $ 0.20 | $ 0.83 | $ 0.45 |
Effect Of Dilutive Stock Awards, Per Share | (0.01) | (0.01) | ||
Diluted EPS, Per Share Amount | $ 0.28 | $ 0.20 | $ 0.82 | $ 0.45 |
Employee Benefit Plan (Narrativ
Employee Benefit Plan (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2021 | |
Employee Benefit Plan [Abstract] | |
Minimum eligibility criteria of full-time pre-merger bank employees for Bank of Essex noncontributory defined benefit pension plan | 21 years |
Employee Benefit Plan (Componen
Employee Benefit Plan (Components of Net Periodic Benefit (Income) Cost for Plan) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Components of net periodic benefit (income) cost | ||||
Interest cost | $ 116 | $ 33 | $ 348 | $ 99 |
Expected return on plan assets | (265) | (54) | (795) | (161) |
Amortization of prior service cost | 4 | 1 | 12 | 3 |
Recognized net actuarial loss | 65 | 12 | 195 | 36 |
Net periodic (income) cost | $ (80) | $ (8) | $ (240) | $ (23) |
Cash Flow Hedge (Narrative) (De
Cash Flow Hedge (Narrative) (Details) - Cash Flow Hedging [Member] - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Derivative, Notional Amount | $ 20,000,000 | $ 20,000,000 |
Interest Rate Swap [Member] | ||
Cash pledged as collateral | 770,000 | 770,000 |
Cash flow hedge liability | $ 374,000 | $ 631,000 |
Revenue Recognition (Details)
Revenue Recognition (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | ||||
Service charges on deposit accounts | $ 341 | $ 315 | $ 964 | $ 1,042 |
Interchange and ATM fees | 330 | 298 | 1,037 | 775 |
Brokerage fees and commissions | 57 | 53 | 238 | 256 |
Noninterest income (in-scope of Topic 606) | 728 | 666 | 2,239 | 2,073 |
Noninterest income (out-of-scope of Topic 606) | 653 | 806 | 2,231 | 2,350 |
Total noninterest income | $ 1,381 | $ 1,472 | $ 4,470 | $ 4,423 |
Leases (Details)
Leases (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | ||
Options to renew | true | |
Finance Lease, Liability | $ 0 | $ 0 |
Sales type lease | $ 0 | $ 0 |
Leases (Operating lease liabili
Leases (Operating lease liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Renewal Term | 5 years | |
Gross lease liability | $ 7,115 | $ 8,047 |
Less: imputed interest | (2,070) | (2,260) |
Present value of lease liability | $ 5,045 | $ 5,787 |
Minimum [Member] | ||
Lease terms | 5 years | |
Maximum [Member] | ||
Lease terms | 20 years |
Leases (Maturities of the gross
Leases (Maturities of the gross operating lease liability) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Leases [Abstract] | |||||
Operating leases, weighted average remaining lease term (years) | 12 years 10 months 24 days | 12 years 10 months 24 days | 12 years 3 months 18 days | ||
Operating leases, weighted average discount rate | 4.93% | 4.93% | 4.78% | ||
Operating | |||||
2021 | $ 258 | $ 258 | |||
2022 | 600 | 600 | |||
2023 | 630 | 630 | |||
2024 | 573 | 573 | |||
2025 | 552 | 552 | |||
Thereafter | 4,502 | 4,502 | |||
Gross lease liability | 7,115 | 7,115 | $ 8,047 | ||
Operating lease cost | 318 | $ 317 | 949 | $ 952 | |
Sublease Income | $ 47 | $ 27 | $ 176 | $ 82 |
Other Operating Expenses (Summa
Other Operating Expenses (Summary of Other Noninterest Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Other Operating Expenses [Abstract] | ||||
Bank franchise tax | $ 258 | $ 237 | $ 772 | $ 711 |
Stationery, printing and supplies | 170 | 167 | 490 | 521 |
Outside vendor fees | 220 | 177 | 512 | 604 |
Legal fees | 136 | 27 | 596 | 62 |
Professional fees | 166 | 95 | 742 | 248 |
Other expenses | 848 | 720 | 2,622 | 2,209 |
Total other operating expenses | $ 1,798 | $ 1,423 | $ 5,734 | $ 4,355 |
Other Operating Expenses (Narra
Other Operating Expenses (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jun. 02, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Aggregate of total net interest income and total noninterest income | 1.00% | 1.00% | 1.00% | 1.00% | |
Merger Agreement With United Bankshares Inc. [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Percentage of shares acquired | 100.00% | ||||
Exchange ratio | 0.3173 | ||||
Merger related expenses | $ 147 | $ 717 |