Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 03, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | Embassy Bancorp, Inc. | |
Entity Central Index Key | 0001449794 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 7,476,213 | |
Trading Symbol | emyb | |
Entity Small Business | true | |
Entity Emerging Growth Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 16,292 | $ 14,103 |
Interest bearing demand deposits with banks | 20,119 | 13,473 |
Federal funds sold | 1,000 | |
Cash and Cash Equivalents | 37,411 | 27,576 |
Securities available for sale | 85,354 | 90,748 |
Restricted investment in bank stock | 878 | 2,794 |
Loans receivable, net of allowance for loan losses of $7,546 in 2019; $7,412 in 2018 | 960,407 | 949,944 |
Premises and equipment, net of accumulated depreciation | 2,068 | 2,174 |
Right of use asset | 10,610 | |
Bank owned life insurance | 19,778 | 19,568 |
Accrued interest receivable | 2,253 | 2,178 |
Other real estate owned | 135 | |
Other assets | 3,917 | 4,270 |
Total Assets | 1,122,676 | 1,099,387 |
Deposits: | ||
Non-interest bearing | 159,860 | 148,609 |
Interest bearing | 841,290 | 782,906 |
Total Deposits | 1,001,150 | 931,515 |
Securities sold under agreements to repurchase | 10,950 | 18,883 |
Short-term borrowings | 53,995 | |
Accrued interest payable | 2,305 | 1,689 |
Lease liability | 10,694 | |
Other liabilities | 5,975 | 6,080 |
Total Liabilities | 1,031,074 | 1,012,162 |
Stockholders' Equity: | ||
Common stock, $1 par value; authorized 20,000,000 shares; 2019 issued 7,541,260 shares; outstanding 7,476,213 shares; 2018 issued 7,529,567 shares; outstanding 7,464,520 shares; | 7,541 | 7,530 |
Surplus | 25,748 | 25,532 |
Retained earnings | 58,962 | 56,410 |
Accumulated other comprehensive income (loss) | 351 | (1,247) |
Treasury stock, at cost: 65,047 shares | (1,000) | (1,000) |
Total Stockholders' Equity | 91,602 | 87,225 |
Total Liabilities and Stockholders' Equity | $ 1,122,676 | $ 1,099,387 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Consolidated Balance Sheets [Abstract] | ||
Loans receivable, allowance | $ 7,546 | $ 7,412 |
Common Stock, Par Value | $ 1 | $ 1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 7,541,260 | 7,529,567 |
Common Stock, Shares, Outstanding | 7,476,213 | 7,464,520 |
Treasury Stock, Shares | 65,047 | 65,047 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
INTEREST INCOME | ||
Loans receivable, including fees | $ 9,584 | $ 8,261 |
Securities, taxable | 366 | 292 |
Securities, non-taxable | 290 | 317 |
Short-term investments, including federal funds sold | 144 | 64 |
Total Interest Income | 10,384 | 8,934 |
INTEREST EXPENSE | ||
Deposits | 1,877 | 1,099 |
Securities sold under agreements to repurchase | 25 | 4 |
Short-term borrowings | 268 | 18 |
Total Interest Expense | 2,170 | 1,121 |
Net Interest Income | 8,214 | 7,813 |
PROVISION FOR LOAN LOSSES | 130 | 215 |
Net Interest Income after Provision for Loan Losses | 8,084 | 7,598 |
OTHER NON-INTEREST INCOME | ||
Credit card processing fees | 80 | 96 |
Debit card interchange fees | 127 | 125 |
Other service fees | 116 | 108 |
Bank owned life insurance | 210 | 74 |
Gain (loss) on sale of other real estate owned | 45 | (8) |
Total Other Non-Interest Income | 578 | 395 |
OTHER NON-INTEREST EXPENSES | ||
Salaries and employee benefits | 2,643 | 2,471 |
Occupancy and equipment | 820 | 690 |
Data processing | 562 | 537 |
Credit card processing | 33 | 44 |
Advertising and promotion | 411 | 349 |
Professional fees | 195 | 195 |
FDIC insurance | 95 | 110 |
Insurance | 14 | 14 |
Loan & real estate | 43 | 87 |
Charitable contributions | 306 | 273 |
Other real estate owned expenses | 12 | 28 |
Other | 420 | 287 |
Total Other Non-Interest Expenses | 5,554 | 5,085 |
Income before Income Taxes | 3,108 | 2,908 |
INCOME TAX EXPENSE | 556 | 531 |
Net Income | $ 2,552 | $ 2,377 |
BASIC EARNINGS PER SHARE | $ 0.34 | $ 0.32 |
DILUTED EARNINGS PER SHARE | $ 0.34 | $ 0.32 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net Income | $ 2,552 | $ 2,377 | |
Change in Accumulated Other Comprehensive Income (Loss): | |||
Unrealized holding gain (loss) on securities available for sale | 2,023 | (1,632) | |
Less: reclassification adjustment for realized gains | [1],[2] | ||
Total other comprehensive income (loss), before tax | 2,023 | (1,632) | |
Income tax effect | (425) | 343 | |
Net unrealized gain (loss) | 1,598 | (1,289) | |
Other comprehensive income (loss), net of tax | 1,598 | (1,289) | |
Comprehensive Income | $ 4,150 | $ 1,088 | |
[1] | Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying Consolidated Statements of Income. | ||
[2] | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
BALANCE-Beginning at Dec. 31, 2017 | $ 7,492 | $ 24,998 | $ 47,602 | $ 19 | $ (342) | $ 79,769 |
Net income | 2,377 | 2,377 | ||||
Other comprehensive income (loss), net of tax | (1,289) | (1,289) | ||||
Compensation expense recognized on stock options | 1 | 1 | ||||
Common stock grants to directors | 6 | 105 | 111 | |||
Compensation expense recognized on stock grants, net of unearned compensation expense | 64 | 64 | ||||
Shares issued under employee stock purchase plan | 1 | 13 | 14 | |||
BALANCE-Ending at Mar. 31, 2018 | 7,499 | 25,181 | 49,979 | (1,270) | (342) | 81,047 |
BALANCE-Beginning at Dec. 31, 2018 | 7,530 | 25,532 | 56,410 | (1,247) | (1,000) | 87,225 |
Net income | 2,552 | 2,552 | ||||
Other comprehensive income (loss), net of tax | 1,598 | 1,598 | ||||
Compensation expense recognized on stock options | 1 | 1 | ||||
Common stock grants to directors | 10 | 151 | 161 | |||
Compensation expense recognized on stock grants, net of unearned compensation expense | 51 | 51 | ||||
Shares issued under employee stock purchase plan | 1 | 13 | 14 | |||
BALANCE-Ending at Mar. 31, 2019 | $ 7,541 | $ 25,748 | $ 58,962 | $ 351 | $ (1,000) | $ 91,602 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Consolidated Statements Of Stockholders' Equity [Abstract] | ||
Common stock grants to directors, shares | 10,799 | 6,731 |
Unearned compensation expense | $ 608 | $ 546 |
Shares issued under employee stock purchase plan, shares | 894 | 927 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 2,552 | $ 2,377 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 130 | 215 |
Amortization of deferred loan costs | 63 | 53 |
Amortization of right of use asset | 298 | |
Depreciation | 204 | 177 |
Net amortization of investment security premiums and discounts | 25 | 48 |
Stock compensation expense | 213 | 176 |
Net realized (gain) loss on sale of other real estate owned | (45) | 8 |
Income on bank owned life insurance | (210) | (74) |
(Increase) decrease in accrued interest receivable | (75) | 76 |
Increase in other assets | (72) | (145) |
Increase (decrease) in accrued interest payable | 616 | (81) |
Decrease in lease liability | (320) | |
Increase in other liabilities | 1 | 142 |
Net Cash Provided by Operating Activities | 3,380 | 2,972 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of securities available for sale | (9,793) | |
Maturities, calls and principal repayments of securities available for sale | 7,392 | 4,485 |
Net increase in loans | (10,656) | (28,216) |
Net redemption (purchase) of restricted investment in bank stock | 1,916 | (302) |
Proceeds from sale of other real estate owned | 180 | 91 |
Purchases of premises and equipment | (98) | (62) |
Net Cash Used in Investing Activities | (1,266) | (33,797) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 69,635 | 13,101 |
Net (decrease) increase in securities sold under agreements to repurchase | (7,933) | 7,427 |
Proceeds from Employee Stock Purchase Plan | 14 | 14 |
(Decrease) increase in short-term borrowed funds | (53,995) | 1,950 |
Net Cash Provided by Financing Activities | 7,721 | 22,492 |
Net Increase (Decrease) in Cash and Cash Equivalents | 9,835 | (8,333) |
CASH AND CASH EQUIVALENTS - BEGINNING | 27,576 | 33,534 |
CASH AND CASH EQUIVALENTS - ENDING | 37,411 | 25,201 |
SUPPLEMENTARY CASH FLOWS INFORMATION | ||
Interest paid | 1,554 | 1,202 |
Deferral of gain from sale of other real estate sold through bank financing | 2 | |
Other real estate acquired in settlement of loans | $ 100 | |
Non-cash Investing and Financing Activities: | ||
Recognition of operating lease right of use assets | 10,908 | |
Recognition of operating lease liabilities | $ 11,014 |
Basis Of Presentation
Basis Of Presentation | 3 Months Ended |
Mar. 31, 2019 | |
Basis Of Presentation [Abstract] | |
Basis Of Presentation | Note 1 – Basis of Presentation Embassy Bancorp, Inc. (the “Company”) is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the “Bank”) in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008 . Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow. Embassy Holdings, LLC (the “LLC”) is a wholly-owned subsidiary of the Bank organized to engage in the holding of property acquired by the Bank in satisfaction of debts previously contracted. As such, the consolidated financial statements contained herein include the accounts of the Company, the Bank and the LLC. All significant intercompany transactions and balances have been eliminated. The Bank, which is the Company’s principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank’s primary market area. The accompanying unaudited financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“US GAAP”) for interim financial information and in accordance with instructions for Form 10-Q and Rule 10-01 of the Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. The consolidated financial statements presented in this report should be read in conjunction with the audited consolidated financial statements and the accompanying notes for the year ended December 31, 2018 , included in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 13, 201 9. In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after March 31, 2019 through the date these consolidated financial statements were issued. Certain amounts in the 2018 consolidated financial statements may have been reclassified to conform to 2019 presentation. These reclassifications had no effect on 2018 net income. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | Note 2 - Summary of Significant Accounting Policies The Company adopted ASU No. 2016-02, “Leases (Topic 842) ” on January 1, 2019, described in Note 7 – Right of Use Asset and Lease Liabilities. Besides the adoption of Topic 842 the significant accounting policies of the Company as applied in the interim financial statements presented herein are substantially the same as those followed on an annual basis as presented in the Company’s Form 10-K for the year ended December 31, 2018 . |
Securities Available For Sale
Securities Available For Sale | 3 Months Ended |
Mar. 31, 2019 | |
Securities Available For Sale [Abstract] | |
Securities Available For Sale | Note 3 – Securities Available For Sale At March 31, 2019 and December 31, 2018 , respectively, the amortized cost and approximate fair values of securities available-for-sale were as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) March 31, 2019: Municipal bonds $ 32,144 $ 741 $ (305) $ 32,580 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 52,765 395 (386) 52,774 Total $ 84,909 $ 1,136 $ (691) $ 85,354 December 31, 2018: U.S. Government agency obligations $ 3,001 $ - $ (4) $ 2,997 Municipal bonds 35,171 515 (808) 34,878 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 54,154 127 (1,408) 52,873 Total $ 92,326 $ 642 $ (2,220) $ 90,748 The amortized cost and fair value of securities as of March 31, 2019 , by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without any penalties. Amortized Fair Cost Value (In Thousands) Due in one year or less $ 2,865 $ 2,877 Due after one year through five years 4,525 4,574 Due after five years through ten years 7,028 6,974 Due after ten years 17,726 18,155 32,144 32,580 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 52,765 52,774 Total $ 84,909 $ 85,354 There were no sales of securities for the three months ended March 31, 2019 and 2018. Securities with a carrying value of $85.4 million and $85.8 million at March 31, 2019 and December 31, 2018 , respectively, were subject to agreements to repurchase, pledged to secure public deposits, or pledged for other purposes required or permitted by law. The following table shows the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2019 and December 31, 2018 , respectively: Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2019: (In Thousands) Municipal bonds $ - $ - $ 8,112 $ (305) $ 8,112 $ (305) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential - - 33,925 (386) 33,925 (386) Total Temporarily Impaired Securities $ - $ - $ 42,037 $ (691) $ 42,037 $ (691) . December 31, 2018: U.S. Government agency obligations $ - $ - $ 2,997 $ (4) $ 2,997 $ (4) Municipal bonds 3,231 (101) 7,711 (707) 10,942 (808) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential 8,926 (57) 35,940 (1,351) 44,866 (1,408) Total Temporarily Impaired Securities $ 12,157 $ (158) $ 46,648 $ (2,062) $ 58,805 $ (2,220) The Company had twenty-eight (28) securities in an unrealized loss position at March 31, 2019 . The unrealized losses are due to market interest rate fluctuations. As of March 31, 2019 , the Company either has the intent and ability to hold the securities until maturity or market price recovery, or believes that it is more likely than not that it will not be required to sell such securities. Management believes that the unrealized loss only represents temporary impairment of the securities. |
Restricted Investment In Bank S
Restricted Investment In Bank Stock | 3 Months Ended |
Mar. 31, 2019 | |
Restricted Investment In Bank Stock [Abstract] | |
Restricted Investment In Bank Stock | Note 4 – Restricted Investment in Bank Stock Restricted investments in bank stock consist of FHLBank of Pittsburgh (“FHLB”) stock and Atlantic Community Bankers Bank (“ACBB”) stock. The restricted stocks are carried at cost. Federal law requires a member institution of the FHLB to hold stock of its district FHLB according to a predetermined formula. The Bank had FHLB stock at a carrying value of $2.6 million and $889 thousand repurchased during the three months ended March 31, 2019 and 2018, respectively. Stock purchases of $677 thousand and $1.2 million were made during the three months ended March 31, 2019 and 2018, respectively. Dividend payments of $43 thousand and $5 thousand were received during the three months ended March 31, 2019 and 2018, respectively. The Bank had no ACBB stock purchases or repurchases during the three months ended March 31, 2019 and 2018. The Bank had ACBB stock at a carrying value of $ 40 thousand for the three months ended March 31, 2019 and 2018, respectively. Dividend payments of $1 thousand were received during the three months ended March 31, 2019 and 2018, respectively. Management evaluates the FHLB and ACBB restricted stock for impairment. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of their cost is influenced by criteria such as (1) the significance of the decline in net assets of the issuer as compared to the capital stock amount for the issuer and the length of time this situation has persisted, (2) commitments by the issuer to make payments required by law or regulation and the level of such payments in relation to the operating performance of the issuer, and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the issuer. Based upon its evaluation of the foregoing criteria, management believes no impairment charge is necessary related to the FHLB or ACBB stock as of March 31, 2019 . |
Loans Receivable and Credit Qua
Loans Receivable and Credit Quality | 3 Months Ended |
Mar. 31, 2019 | |
Loans Receivable and Credit Quality [Abstract] | |
Loans Receivable and Credit Quality | Note 5 – Loans Receivable and Credit Quality The following table presents the composition of loans receivable at March 31, 2019 and December 31, 2018 , respectively: March 31, 2019 December 31, 2018 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ 432,803 44.75% $ 428,487 44.79% Commercial construction 12,051 1.24% 10,958 1.15% Commercial 40,779 4.22% 38,425 4.02% Residential real estate 480,739 49.70% 477,965 49.96% Consumer 882 0.09% 850 0.09% Total loans 967,254 100.00% 956,685 100.00% Unearned origination fees 699 671 Allowance for loan losses (7,546) (7,412) $ 960,407 $ 949,944 The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention (potential weaknesses), substandard (well defined weaknesses) and doubtful (full collection unlikely) within the Company's internal risk rating system as of March 31, 2019 and December 31, 2018 , respectively: Pass Special Mention Substandard Doubtful Total March 31, 2019 (In Thousands) Commercial real estate $ 431,316 $ - $ 1,487 $ - $ 432,803 Commercial construction 11,736 - 315 - 12,051 Commercial 40,674 105 - - 40,779 Residential real estate 479,604 740 395 - 480,739 Consumer 882 - - - 882 Total $ 964,212 $ 845 $ 2,197 $ - $ 967,254 December 31, 2018 Commercial real estate $ 426,988 $ - $ 1,499 $ - $ 428,487 Commercial construction 10,643 - 315 - 10,958 Commercial 38,309 116 - - 38,425 Residential real estate 476,811 747 407 - 477,965 Consumer 850 - - - 850 Total $ 953,601 $ 863 $ 2,221 $ - $ 956,685 The Company had no foreclosed assets as of March 31, 2019 . At March 31, 2019 and December 31, 2018, the Company had $236 thousand and $246 thousand, respectively, in recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure. The following table summarizes information in regards to impaired loans by loan portfolio class as of March 31, 2019 and December 31, 2018 , respectively: March 31, 2019 December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance (In Thousands) With no related allowance recorded: Commercial real estate $ 1,716 $ 1,980 $ 1,732 $ 1,996 Commercial construction 315 315 315 315 Commercial - - - - Residential real estate 694 950 709 965 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ - $ - $ - Commercial construction - - - - - - Commercial 238 238 32 239 239 33 Residential real estate 839 839 183 848 848 186 Consumer - - - - - - Total: Commercial real estate $ 1,716 $ 1,980 $ - $ 1,732 $ 1,996 $ - Commercial construction 315 315 - 315 315 - Commercial 238 238 32 239 239 33 Residential real estate 1,533 1,789 183 1,557 1,813 186 Consumer - - - - - - $ 3,802 $ 4,322 $ 215 $ 3,843 $ 4,363 $ 219 The following table summarizes information regarding the average recorded investment and interest income recognized on impaired loans by loan portfolio for the three months ended March 31, 2019 and 2018, respectively: Three Months Ended March 31, 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In Thousands) With no related allowance recorded: Commercial real estate $ 1,724 $ 17 $ 6,553 $ 57 Commercial construction 315 3 315 3 Commercial - - - - Residential real estate 702 3 982 3 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ - Commercial construction - - - - Commercial 239 2 245 2 Residential real estate 844 7 981 8 Consumer - - - - Total: Commercial real estate $ 1,724 $ 17 $ 6,553 $ 57 Commercial construction 315 3 315 3 Commercial 239 2 245 2 Residential real estate 1,546 10 1,963 11 Consumer - - - - $ 3,824 $ 32 $ 9,076 $ 73 The following table presents non-accrual loans by classes of the loan portfolio: March 31, 2019 December 31, 2018 (In Thousands) Commercial real estate $ - $ - Commercial construction - - Commercial - - Residential real estate 258 269 Consumer - - Total $ 258 $ 269 The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of March 31, 2019 and December 31, 2018 , respectively: Greater Loan than Receivables > 30-59 Days 60-89 Days 90 Days Total Total Loan 90 Days and Past Due Past Due Past Due Past Due Current Receivables Accruing March 31, 2019 (In Thousands) Commercial real estate $ 868 $ - $ - $ 868 $ 431,935 $ 432,803 $ - Commercial construction 739 - - 739 11,312 12,051 - Commercial 198 - - 198 40,581 40,779 - Residential real estate 403 87 - 490 480,249 480,739 - Consumer - - - - 882 882 - Total $ 2,208 $ 87 $ - $ 2,295 $ 964,959 $ 967,254 $ - December 31, 2018 Commercial real estate $ 323 $ - $ - $ 323 $ 428,164 $ 428,487 $ - Commercial construction - - - - 10,958 10,958 - Commercial 138 - - 138 38,287 38,425 - Residential real estate 696 - - 696 477,269 477,965 - Consumer - - - - 850 850 - Total $ 1,157 $ - $ - $ 1,157 $ 955,528 $ 956,685 $ - The following tables detail the activity in the allowance for loan losses for the three months ended March 31, 2019 and 2018 : Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses (In Thousands) Three Months Ending March 31, 2019 Beginning Balance - December 31, 2018 $ 3,248 $ 94 $ 574 $ 3,179 $ 19 $ 298 $ 7,412 Charge-offs - - - - - - - Recoveries - - 4 - - - 4 Provisions 17 9 20 19 2 63 130 Ending Balance - March 31, 2019 $ 3,265 $ 103 $ 598 $ 3,198 $ 21 $ 361 $ 7,546 Three Months Ending March 31, 2018 Beginning Balance - December 31, 2017 $ 2,251 $ 369 $ 472 $ 3,510 $ 18 $ 420 $ 7,040 Charge-offs - - - - - - - Recoveries 7 - - 4 - - 11 Provisions 198 (120) 3 (6) 4 136 215 Ending Balance - March 31, 2018 $ 2,456 $ 249 $ 475 $ 3,508 $ 22 $ 556 $ 7,266 The following tables represent the allocation for loan losses and the related loan portfolio disaggregated based on impairment methodology at March 31, 2019 and December 31, 2018 : Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total (In Thousands) March 31, 2019 Allowance for Loan Losses Ending Balance $ 3,265 $ 103 $ 598 $ 3,198 $ 21 $ 361 $ 7,546 Ending balance: individually evaluated for impairment $ - $ - $ 32 $ 183 $ - $ - $ 215 Ending balance: collectively evaluated for impairment $ 3,265 $ 103 $ 566 $ 3,015 $ 21 $ 361 $ 7,331 Loans receivables: Ending balance $ 432,803 $ 12,051 $ 40,779 $ 480,739 $ 882 $ 967,254 Ending balance: individually evaluated for impairment $ 1,716 $ 315 $ 238 $ 1,533 $ - $ 3,802 Ending balance: collectively evaluated for impairment $ 431,087 $ 11,736 $ 40,541 $ 479,206 $ 882 $ 963,452 December 31, 2018 Allowance for Loan Losses Ending Balance $ 3,248 $ 94 $ 574 $ 3,179 $ 19 $ 298 $ 7,412 Ending balance: individually evaluated for impairment $ - $ - $ 33 $ 186 $ - $ - $ 219 Ending balance: collectively evaluated for impairment $ 3,248 $ 94 $ 541 $ 2,993 $ 19 $ 298 $ 7,193 Loans receivables: Ending balance $ 428,487 $ 10,958 $ 38,425 $ 477,965 $ 850 $ 956,685 Ending balance: individually evaluated for impairment $ 1,732 $ 315 $ 239 $ 1,557 $ - $ 3,843 Ending balance: collectively evaluated for impairment $ 426,755 $ 10,643 $ 38,186 $ 476,408 $ 850 $ 952,842 Troubled Debt Restructurings The Company may grant a concession or modification for economic or legal reasons related to a borrower’s financial condition that it would not otherwise consider, resulting in a modified loan which is then identified as a troubled debt restructuring (“TDR”). The Company may modify loans through rate reductions, extensions to maturity, interest only payments, or payment modifications to better coincide the timing of payments due under the modified terms with the expected timing of cash flows from the borrowers’ operations. Loan modifications are intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. TDRs are considered impaired loans for purposes of calculating the Company’s allowance for loan losses. The Company identifies loans for potential restructure primarily through direct communication with the borrower and the evaluation of the borrower’s financial statements, revenue projections, tax returns, and credit reports. Even if the borrower is not presently in default, management will consider the likelihood that cash flow shortages, adverse economic conditions, and negative trends may result in a payment default in the near future. The following table presents TDR’s outstanding: Accrual Loans Non-Accrual Loans Total Modifications March 31, 2019 (In Thousands) Commercial real estate $ 1,261 $ - $ 1,261 Commercial construction 260 - 260 Commercial 238 - 238 Residential real estate 1,139 22 1,161 Consumer - - - $ 2,898 $ 22 $ 2,920 December 31, 2018 Commercial real estate $ 1,269 $ - $ 1,269 Commercial construction 260 - 260 Commercial 239 - 239 Residential real estate 1,150 23 1,173 Consumer - - - $ 2,918 $ 23 $ 2,941 As of March 31, 2019 , no available commitments were outstanding on TDRs. There were no newly restructured loans that occurred during the three months en ded March 31, 2019 and 2018 . e There were no loans that were modified and classified as a TDR within the prior twelve months that experienced a payment default (loans ninety days or more past due) during the three months ended March 31, 2019 and 2018 . |
Guarantees
Guarantees | 3 Months Ended |
Mar. 31, 2019 | |
Guarantees [Abstract] | |
Guarantees | Note 6 – Guarantees The Company, through the Bank, does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Generally, all letters of credit, when issued, have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to customers. The Bank generally holds collateral and/or personal guarantees supporting these commitments. The Company had $4.6 million of standby letters of credit outstanding as of March 31, 2019 . The approximate value of underlying collateral upon liquidation that would be expected to cover this maximum potential exposure was $4.0 million. Management does not consider the current amount of the liability as of March 31, 2019 for guarantees under standby letters of credit issued to be material. |
Right of Use Asset and Lease Li
Right of Use Asset and Lease Liability | 3 Months Ended |
Mar. 31, 2019 | |
Right of Use Asset and Lease Liability [Abstract] | |
Right of Use Asset and Lease Liability | Note 7 – Right of Use Asset and Lease Liability In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”, which superseded the lease requirements in Topic 840. The ASU required lessees to recognize a right of use asset and related lease liability for all leases, with a limited exception for short-term leases. Leases are classified as either finance or operating, with the classification affecting the pattern of expense recognition in the consolidated statement of income. Previously, leases were classified as either capital or operating, with only capital leases recognized on the consolidated balance sheets. The reporting of lease related expenses in the statements of income and cash flows are generally consistent with the current guidance. The new guidance became effective for the Company on January 1, 2019. The standard was applied using the optional transition method in accordance with the July 2018 issued ASU No. 2018-11 allowing the Company to choose the optional transition method, instead of the modified retrospective transition method previously considered. The Company has made an accounting policy election to not apply the recognition requirements in ASU 2016-02 to short-term leases. The Company has also elected to use the practical expedients allowed by the new standard as follows: 1) forego an assessment of whether any existing contracts are or contain leases, 2) forego an assessment of the classification of existing leases as to whether they are operating leases or capital leases, and 3) forego an assessment of direct costs for any existing leases. The Company’s leases are all classified as operating leases with no short-term leases. Currently, many of these leases contain renewal options. The Company has reviewed and based the right of use assets and lease liabilities, primarily, on the present value of unpaid future minimum lease payments. Additionally, the amounts, for the branch leases, were impacted by assumptions around renewals and/or extensions and the interest rate used to discount those future lease obligations. Impact to the consolidated income statements was not material in the current period. All operating equipment leases do not have renewal language in their contracts and therefore use the current term. In accordance with the guidance, the Company had an increase on its consolidated balance sheets as of March 31, 2019 for the right of use asset of $10.6 million offset by lease liabilities of $10.7 million, with the difference attributable to a transition adjustment required by ASC Topic 842 relating to previously recognized amounts. The cost for operating leases was $386 thousand for the three months ended March 31, 2019. Operating cash flow paid for lease liabilities was $408 thousand for the three months ended March 31, 2019. As of March 31, 2019, the operating leases overall had a weighted average lease term of 7.42 years, with the branch leases having a weighted average life of 7.50 years and equipment leases having a weighted average life of 3.06 years. The Company used the FHLB advance rates to calculate the discount rate in their review because none of the Company’s leases provided an implicit rate. The Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The present value of all existing operating leases was determined using the incremental collateralized borrowing rate on January 1, 2019. The weighted average discount rate for all operating leases was 3.17% , with branch leases having a weighted average discount rate of 3.17% and equipment leases having a weighted average discount rate of 2.82% . A reconciliation of operating lease liabilities by minimum lease payments by year and in aggregate and discount amounts in aggregate, as of March 31, 2019, are as follows: Branch Leases Equipment Third Parties Related Parties Leases Total (In Thousands) 2019 (remainder of year) $ 780 $ 520 $ 67 $ 1,367 2020 938 636 71 1,645 2021 955 649 34 1,638 2022 984 661 29 1,674 2023 1,002 673 4 1,679 Thereafter 2,017 2,053 1 4,071 Total Payments 6,676 5,192 206 12,074 Less: Discount Amount 741 630 9 1,380 Total Lease Liability $ 5,935 $ 4,562 $ 197 $ 10,694 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2019 | |
Deposits [Abstract] | |
Deposits | Note 8 – Deposits The components of deposits at March 31, 2019 and December 31, 2018 are as follows: March 31, December 31, 2019 2018 (In Thousands) Demand, non-interest bearing $ 159,860 $ 148,609 Demand, NOW and money market, interest bearing 144,048 135,915 Savings 437,198 452,809 Time, $250 and over 89,495 70,337 Time, other 170,549 123,845 Total deposits $ 1,001,150 $ 931,515 The $65.9 million increase in the Company’s time deposits was primarily due to time deposit promotions. Most of the funds attracted were new deposits. There was also a modest shift of $15.6 million in savings deposits to higher yielding accounts. The new deposit relationships contributed to the $11.3 million increase in non-interest bearing deposits. The funds were mainly used to pay down FHLB short-term borrowings and to fund new loan growth. |
Offsetting Assets And Liabiliti
Offsetting Assets And Liabilities | 3 Months Ended |
Mar. 31, 2019 | |
Offsetting Assets And Liabilities [Abstract] | |
Offsetting Assets And Liabilities | Note 9 – Offsetting Assets and Liabilities The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal ownership over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as a liability in the Company's consolidated balance sheet, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts. In other words, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. In addition, as the Company does not enter into reverse repurchase agreements, there is no such offsetting to be done with the repurchase agreements. The right of setoff for a repurchase agreement resembles a secured borrowing, whereby the collateral would be used to settle the fair value of the repurchase agreement should the Company be in default (e.g., fails to make an interest payment to the counterparty). For private institution repurchase agreements, if the private institution counterparty were to default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest), and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third party financial institution in the counterparty's custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri-party agreement. The following table presents the liabilities subject to an enforceable master netting arrangement or repurchase agreements as of March 31, 2019 and December 31, 2018 : Net Amounts Gross Gross Amounts of Liabilities Amounts of Offset in the Presented in the Cash Recognized Consolidated Consolidated Financial Collateral Liabilities Balance Sheet Balance Sheet Instruments Pledged Net Amount (In Thousands) March 31, 2019 Repurchase Agreements: Corporate Institutions $ 10,950 $ - $ 10,950 $ (10,950) $ - $ - December 31, 2018 Repurchase Agreements: Corporate Institutions $ 18,883 $ - $ 18,883 $ (18,883) $ - $ - As of March 31, 2019 and December 31, 2018 , the fair value of securities pledged was $14.1 million and $23.8 million, respectively. |
Short-Term And Long-Term Borrow
Short-Term And Long-Term Borrowings | 3 Months Ended |
Mar. 31, 2019 | |
Short-Term And Long-Term Borrowings [Abstract] | |
Short-Term And Long-Term Borrowings | Note 10 – Short-term and Long-term Borrowings Securities sold under agreements to repurchase, federal funds purchased and FHLB short term advances generally represent overnight or less than twelve month borrowings. Long term advances from the FHLB are for periods of twelve months or more and are generally less than sixty months . The Bank has an agreement with the FHLB which allows for borrowings up to a percentage of qualifying assets. At March 31, 2019 , the Bank had a maximum borrowing capacity for short-term and long-term advances of approximately $549.8 million. This borrowing capacity with the FHLB includes a line of credit of $ 150.0 million. There were no short-term FHLB advances outstanding as of March 31, 2019 and $54.0 million short-term FHLB advances were outstanding as of December 31, 2018. The decrease in short-term borrowings from prior year end was primarily the result of growth in the Company’s time deposit portfolio due to advertised promotions. There were no long-term FHLB advances outstanding as of March 31, 2019 and December 31, 2018 . All FHLB borrowings are secured by qualifying assets of the Bank. The Bank has a federal funds line of credit with the ACBB of $ 10.0 million, of which none was outstanding at March 31, 2019 and December 31, 2018 . Advances from this line are unsecured. |
Stock Incentive Plan And Employ
Stock Incentive Plan And Employee Stock Purchase Plan | 3 Months Ended |
Mar. 31, 2019 | |
Stock Incentive Plan And Employee Stock Purchase Plan [Abstract] | |
Stock Incentive Plan And Employee Stock Purchase Plan | Note 11 – Stock Incentive Plan and Employee Stock Purchase Plan Stock Incentive Plan: At the Company’s annual meeting on June 16, 2010, the shareholders approved the Embassy Bancorp, Inc. 2010 Stock Incentive Plan (the “SIP”). The SIP authorizes the Board of Directors, or a committee authorized by the Board of Directors, to award a stock based incentive to (i) designated officers (including officers who are directors) and other designated employees at the Company and its subsidiaries, and (ii) non-employee members of the Board of Directors and advisors and consultants to the Company and its subsidiaries. The SIP provides for stock based incentives in the form of incentive stock options as provided in Section 422 of the Internal Revenue Code of 1986, non-qualified stock options, stock appreciation rights, restricted stock and deferred stock awards. The term of the option, the amount of time for the option to vest after grant, if any, and other terms and limitations will be determined at the time of grant. Options granted under the SIP may not have an exercise period that is more than ten years from the time the option is granted. At inception, the aggregate number of shares available for issuance under the SIP was 500,000 . The SIP provides for appropriate adjustments in the number and kind of shares available for grant or subject to outstanding awards under the SIP to avoid dilution in the event of merger, stock splits, stock dividends or other changes in the capitalization of the Company. The SIP expires on June 15, 2020. At March 31, 2019 there were 243,644 shares available for issuance under the SIP. The Company grants shares of restricted stock, under the SIP, to certain members of its Board of Directors as compensation for their services, in accordance with the Company’s Non-employee Directors Compensation program adopted in October 2010. The Company also grants restricted stock to certain officers under individual agreements with these officers. Some of these restricted stock awards vest immediately, while the remainder vest over three to nine service years. Management recognizes compensation expense for the fair value of the restricted stock awards on a straight-line basis over the requisite service period. Since inception of the plan and through the period ended March 31, 2019 , there have been 140,113 awards granted. During the three months ended March 31, 2019 and 2018 there were 10,799 and 6,731 awards granted, respectively. The Company recognized compensation expense for restricted stock awards during the three months ended March 31, 2019 and 2018 of $51 thousand and $64 thousand, respectively. The Company has granted stock options to purchase shares of stock to certain executive officers under individual agreements and/or in accordance with their respective employment agreements. Stock compensation expense related to these options was $1 thousand for the three months ended March 31, 2019 and 2018, respectively. At March 31, 2019, approximately $3 thousand of unrecognized cost to the stock options will be recognized over the next year. Employee Stock Purchase Plan: On January 1, 2017, the Company implemented the Embassy Bancorp, Inc. Employee Stock Purchase Plan, which was approved by the Company’s shareholders at the annual meeting held on June 16, 2016. Under the plan, each employee of the Company and its subsidiaries who is employed on an offering date and customarily is scheduled to work at least twenty (20) hours per week and more than five (5) months in a calendar year is eligible to participate. The purchase price for shares purchased under the plan shall initially equal 95% of the fair market value of such shares on the date of purchase. The purchase price may be adjusted from time to time by the Board of Directors; provided, however, that the discount to fair market value shall not exceed 15% . The Company has authorized 350,000 shares of its common stock for the plan, of which 7,958 shares have been issued as of March 31, 2019 . The Company recognized discount expense in relation to the employee stock purchase plan of $1 thousand during the three months ended March 31, 2019 and 2018, respectively. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2019 | |
Other Comprehensive Income (Loss) [Abstract] | |
Other Comprehensive Income (Loss) | Note 12 – Other Comprehensive Income (Loss) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). The components of other comprehensive income (loss) both before tax and net of tax are as follows: Three Months Ended March 31, 2019 2018 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive income (loss): Unrealized holding gains (losses) on securities available for sale $ 2,023 $ (425) $ 1,598 $ (1,632) $ 343 $ (1,289) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - - - - Total other comprehensive income (loss) $ 2,023 $ (425) $ 1,598 $ (1,632) $ 343 $ (1,289) A. Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying Consolidated Statements of Income. B. Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. There were no realized gains on securities available for sale for the three months ended March 31, 2019 and 2018. A summary of the accumulated other comprehensive income (loss) net of tax, is as follows: Securities Available for Sale Three Months Ended March 31, 2019 and 2018 (In Thousands) Balance January 1, 2019 $ (1,247) Other comprehensive income before reclassifications 1,598 Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period 1,598 Balance March 31, 2019 $ 351 Balance January 1, 2018 $ 19 Other comprehensive loss before reclassifications (1,289) Amounts reclassified from accumulated other comprehensive income - Net other comprehensive loss during the period (1,289) Balance March 31, 2018 $ (1,270) |
Basic And Diluted Earnings Per
Basic And Diluted Earnings Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Basic And Diluted Earnings Per Share [Abstract] | |
Basic And Diluted Earnings Per Share | No te 13 – Basic and Diluted Earnings per Share Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period, as adjusted for stock dividends and splits. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method. Three Months Ended March 31, 2019 2018 (Dollars In Thousands, Except Share and Per Share Data) Net income $ 2,552 $ 2,377 Weighted average shares outstanding 7,469,950 7,470,180 Dilutive effect of potential common shares, stock options 58,889 61,910 Diluted weighted average common shares outstanding 7,528,839 7,532,090 Basic earnings per share $ 0.34 $ 0.32 Diluted earnings per share $ 0.34 $ 0.32 There were no stock options not considered in computing diluted earnings per common share for the three months ended March 31, 2019 and 2018. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 14 – Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 : Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 3 : Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy utilized at March 31, 2019 and December 31, 2018 , respectively, are as follows: (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) Municipal bonds $ - $ 32,580 $ - $ 32,580 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 52,774 - 52,774 March 31, 2019 Securities available for sale $ - $ 85,354 $ - $ 85,354 U.S. Government agency obligations $ - $ 2,997 $ - $ 2,997 Municipal bonds - 34,878 - 34,878 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 52,873 - 52,873 December 31, 2018 Securities available for sale $ - $ 90,748 $ - $ 90,748 The fair value of securities available for sale are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted prices. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things. For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2019 and December 31, 2018 , respectively, are as follows: (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) March 31, 2019 Impaired loans $ - $ - $ 862 $ 862 December 31, 2018 Impaired loans $ - $ - $ 868 $ 868 December 31, 2018 Other real estate owned $ - $ - $ 135 $ 135 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include Level 3 input which are not identifiable. Fair values may also include qualitative adjustments by management based on economic conditions and liquidation expenses. Impaired loans are those that are accounted for under existing FASB guidance , in which the Bank has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. At March 31, 2019 , of the impaired loans having an aggregate balance of $3.8 million, $2.7 million did not require a valuation allowance because the value of the collateral, including estimated selling costs, securing the loan was determined to meet or exceed the balance owed on the loan. Of the remaining $ 1.1 million in impaired loans, an aggregate valuation allowance of $ 215 thousand was required to reflect what was determined to be a shortfall in the value of the collateral as compared to the balance on such loans. Real estate properties acquired through, or in lieu of, foreclosure are to be sold and are carried at fair value less estimated cost to sell. Fair value is based upon independent market prices or appraised value of the property. These assets are included in Level 3 fair value based upon the lowest level of input that is significant to the fair value measurement. The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Description Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) (Dollars In Thousands) March 31, 2019: Impaired loans $ 862 Appraisal of collateral Appraisal adjustments (1) 0% to -25% ( -19.7% ) Liquidation expenses (2) 0% to -8.5% ( -8.0% ) December 31, 2018: Impaired loans $ 868 Appraisal of collateral Appraisal adjustments (1) 0% to -25% ( -19.7% ) Liquidation expenses (2) 0% to -8.5% ( -8.0% ) Other real estate owned $ 135 Listings, Letters of Intent Liquidation expenses (2) -5% ( -5% ) & Third Party Evaluations 1. Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. 2. Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. The estimated fair values of the Company’s financial instruments were as follows at March 31, 2019 and December 31, 2018 : (Level 1) Quoted (Level 2) (Level 3) Prices in Active Significant Other Significant Carrying Fair Value Markets for Observable Unobservable Amount Estimate Identical Assets Inputs Inputs (In Thousands) March 31, 2019: Financial assets: Cash and cash equivalents $ 37,411 $ 37,411 $ 37,411 $ - $ - Securities available-for-sale 85,354 85,354 - 85,354 - Loans receivable, net of allowance 960,407 959,404 - - 959,404 Restricted investments in bank stock 878 878 - 878 - Accrued interest receivable 2,253 2,253 - 2,253 - Financial liabilities: Deposits 1,001,150 1,001,356 - 1,001,356 - Securities sold under agreements to repurchase and federal funds purchased 10,950 10,941 - 10,941 - Accrued interest payable 2,305 2,305 - 2,305 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2018: Financial assets: Cash and cash equivalents $ 27,576 $ 27,576 $ 27,576 $ - $ - Securities available-for-sale 90,748 90,748 - 90,748 - Loans receivable, net of allowance 949,944 935,500 - - 935,500 Restricted investments in bank stock 2,794 2,794 - 2,794 - Accrued interest receivable 2,178 2,178 - 2,178 - Financial liabilities: Deposits 931,515 930,306 - 930,306 - Securities sold under agreements to repurchase and federal funds purchased 18,883 18,869 - 18,869 - Short-term borrowings 53,995 53,995 - 53,995 - Accrued interest payable 1,689 1,689 - 1,689 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - |
Future Accounting Standards
Future Accounting Standards | 3 Months Ended |
Mar. 31, 2019 | |
Future Accounting Standards [Abstract] | |
Future Accounting Standards | Note 15 – Future Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses. ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. This guidance is effective for the Company in 2020. The Company has gathered information and is reviewing various methodologies. The Company will be testing the models in the second and third quarters, and therefore have not yet determined the impact it will have on financial statements and results of operations. |
Basis Of Presentation (Policy)
Basis Of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2019 | |
Basis Of Presentation [Abstract] | |
Consolidation | Embassy Bancorp, Inc. (the “Company”) is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the “Bank”) in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008 . Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow. Embassy Holdings, LLC (the “LLC”) is a wholly-owned subsidiary of the Bank organized to engage in the holding of property acquired by the Bank in satisfaction of debts previously contracted. As such, the consolidated financial statements contained herein include the accounts of the Company, the Bank and the LLC. All significant intercompany transactions and balances have been eliminated. The Bank, which is the Company’s principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank’s primary market area. |
Basis Of Accounting | The accompanying unaudited financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“US GAAP”) for interim financial information and in accordance with instructions for Form 10-Q and Rule 10-01 of the Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. |
Securities Available For Sale (
Securities Available For Sale (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Securities Available For Sale [Abstract] | |
Amortized Cost And Fair Values Of Securities Available-For-Sale | Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) March 31, 2019: Municipal bonds $ 32,144 $ 741 $ (305) $ 32,580 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 52,765 395 (386) 52,774 Total $ 84,909 $ 1,136 $ (691) $ 85,354 December 31, 2018: U.S. Government agency obligations $ 3,001 $ - $ (4) $ 2,997 Municipal bonds 35,171 515 (808) 34,878 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 54,154 127 (1,408) 52,873 Total $ 92,326 $ 642 $ (2,220) $ 90,748 |
Securities Available-For-Sale By Contractual Maturity | Amortized Fair Cost Value (In Thousands) Due in one year or less $ 2,865 $ 2,877 Due after one year through five years 4,525 4,574 Due after five years through ten years 7,028 6,974 Due after ten years 17,726 18,155 32,144 32,580 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 52,765 52,774 Total $ 84,909 $ 85,354 |
Investments' Gross Unrealized Losses And Fair Value | Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2019: (In Thousands) Municipal bonds $ - $ - $ 8,112 $ (305) $ 8,112 $ (305) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential - - 33,925 (386) 33,925 (386) Total Temporarily Impaired Securities $ - $ - $ 42,037 $ (691) $ 42,037 $ (691) . December 31, 2018: U.S. Government agency obligations $ - $ - $ 2,997 $ (4) $ 2,997 $ (4) Municipal bonds 3,231 (101) 7,711 (707) 10,942 (808) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential 8,926 (57) 35,940 (1,351) 44,866 (1,408) Total Temporarily Impaired Securities $ 12,157 $ (158) $ 46,648 $ (2,062) $ 58,805 $ (2,220) |
Loans Receivable And Credit Q_2
Loans Receivable And Credit Quality (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Loans Receivable and Credit Quality [Abstract] | |
Composition Of Loans Receivable | March 31, 2019 December 31, 2018 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ 432,803 44.75% $ 428,487 44.79% Commercial construction 12,051 1.24% 10,958 1.15% Commercial 40,779 4.22% 38,425 4.02% Residential real estate 480,739 49.70% 477,965 49.96% Consumer 882 0.09% 850 0.09% Total loans 967,254 100.00% 956,685 100.00% Unearned origination fees 699 671 Allowance for loan losses (7,546) (7,412) $ 960,407 $ 949,944 |
Schedule Of Loan Portfolio By Aggregate Risk Rating | Pass Special Mention Substandard Doubtful Total March 31, 2019 (In Thousands) Commercial real estate $ 431,316 $ - $ 1,487 $ - $ 432,803 Commercial construction 11,736 - 315 - 12,051 Commercial 40,674 105 - - 40,779 Residential real estate 479,604 740 395 - 480,739 Consumer 882 - - - 882 Total $ 964,212 $ 845 $ 2,197 $ - $ 967,254 December 31, 2018 Commercial real estate $ 426,988 $ - $ 1,499 $ - $ 428,487 Commercial construction 10,643 - 315 - 10,958 Commercial 38,309 116 - - 38,425 Residential real estate 476,811 747 407 - 477,965 Consumer 850 - - - 850 Total $ 953,601 $ 863 $ 2,221 $ - $ 956,685 |
Schedule Of Impaired Loans | The following table summarizes information in regards to impaired loans by loan portfolio class as of March 31, 2019 and December 31, 2018 , respectively: March 31, 2019 December 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance (In Thousands) With no related allowance recorded: Commercial real estate $ 1,716 $ 1,980 $ 1,732 $ 1,996 Commercial construction 315 315 315 315 Commercial - - - - Residential real estate 694 950 709 965 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ - $ - $ - Commercial construction - - - - - - Commercial 238 238 32 239 239 33 Residential real estate 839 839 183 848 848 186 Consumer - - - - - - Total: Commercial real estate $ 1,716 $ 1,980 $ - $ 1,732 $ 1,996 $ - Commercial construction 315 315 - 315 315 - Commercial 238 238 32 239 239 33 Residential real estate 1,533 1,789 183 1,557 1,813 186 Consumer - - - - - - $ 3,802 $ 4,322 $ 215 $ 3,843 $ 4,363 $ 219 The following table summarizes information regarding the average recorded investment and interest income recognized on impaired loans by loan portfolio for the three months ended March 31, 2019 and 2018, respectively: Three Months Ended March 31, 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In Thousands) With no related allowance recorded: Commercial real estate $ 1,724 $ 17 $ 6,553 $ 57 Commercial construction 315 3 315 3 Commercial - - - - Residential real estate 702 3 982 3 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ - Commercial construction - - - - Commercial 239 2 245 2 Residential real estate 844 7 981 8 Consumer - - - - Total: Commercial real estate $ 1,724 $ 17 $ 6,553 $ 57 Commercial construction 315 3 315 3 Commercial 239 2 245 2 Residential real estate 1,546 10 1,963 11 Consumer - - - - $ 3,824 $ 32 $ 9,076 $ 73 |
Schedule Of Nonaccrual Loans | March 31, 2019 December 31, 2018 (In Thousands) Commercial real estate $ - $ - Commercial construction - - Commercial - - Residential real estate 258 269 Consumer - - Total $ 258 $ 269 |
Schedule Of Past Due Loans | Greater Loan than Receivables > 30-59 Days 60-89 Days 90 Days Total Total Loan 90 Days and Past Due Past Due Past Due Past Due Current Receivables Accruing March 31, 2019 (In Thousands) Commercial real estate $ 868 $ - $ - $ 868 $ 431,935 $ 432,803 $ - Commercial construction 739 - - 739 11,312 12,051 - Commercial 198 - - 198 40,581 40,779 - Residential real estate 403 87 - 490 480,249 480,739 - Consumer - - - - 882 882 - Total $ 2,208 $ 87 $ - $ 2,295 $ 964,959 $ 967,254 $ - December 31, 2018 Commercial real estate $ 323 $ - $ - $ 323 $ 428,164 $ 428,487 $ - Commercial construction - - - - 10,958 10,958 - Commercial 138 - - 138 38,287 38,425 - Residential real estate 696 - - 696 477,269 477,965 - Consumer - - - - 850 850 - Total $ 1,157 $ - $ - $ 1,157 $ 955,528 $ 956,685 $ - |
Activity In The Allowance For Loan Losses | Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses (In Thousands) Three Months Ending March 31, 2019 Beginning Balance - December 31, 2018 $ 3,248 $ 94 $ 574 $ 3,179 $ 19 $ 298 $ 7,412 Charge-offs - - - - - - - Recoveries - - 4 - - - 4 Provisions 17 9 20 19 2 63 130 Ending Balance - March 31, 2019 $ 3,265 $ 103 $ 598 $ 3,198 $ 21 $ 361 $ 7,546 Three Months Ending March 31, 2018 Beginning Balance - December 31, 2017 $ 2,251 $ 369 $ 472 $ 3,510 $ 18 $ 420 $ 7,040 Charge-offs - - - - - - - Recoveries 7 - - 4 - - 11 Provisions 198 (120) 3 (6) 4 136 215 Ending Balance - March 31, 2018 $ 2,456 $ 249 $ 475 $ 3,508 $ 22 $ 556 $ 7,266 |
Allocation Of Allowance For Loan Losses And Related Loan Portfolio | Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total (In Thousands) March 31, 2019 Allowance for Loan Losses Ending Balance $ 3,265 $ 103 $ 598 $ 3,198 $ 21 $ 361 $ 7,546 Ending balance: individually evaluated for impairment $ - $ - $ 32 $ 183 $ - $ - $ 215 Ending balance: collectively evaluated for impairment $ 3,265 $ 103 $ 566 $ 3,015 $ 21 $ 361 $ 7,331 Loans receivables: Ending balance $ 432,803 $ 12,051 $ 40,779 $ 480,739 $ 882 $ 967,254 Ending balance: individually evaluated for impairment $ 1,716 $ 315 $ 238 $ 1,533 $ - $ 3,802 Ending balance: collectively evaluated for impairment $ 431,087 $ 11,736 $ 40,541 $ 479,206 $ 882 $ 963,452 December 31, 2018 Allowance for Loan Losses Ending Balance $ 3,248 $ 94 $ 574 $ 3,179 $ 19 $ 298 $ 7,412 Ending balance: individually evaluated for impairment $ - $ - $ 33 $ 186 $ - $ - $ 219 Ending balance: collectively evaluated for impairment $ 3,248 $ 94 $ 541 $ 2,993 $ 19 $ 298 $ 7,193 Loans receivables: Ending balance $ 428,487 $ 10,958 $ 38,425 $ 477,965 $ 850 $ 956,685 Ending balance: individually evaluated for impairment $ 1,732 $ 315 $ 239 $ 1,557 $ - $ 3,843 Ending balance: collectively evaluated for impairment $ 426,755 $ 10,643 $ 38,186 $ 476,408 $ 850 $ 952,842 |
Troubled Debt Restructuring Outstanding | Accrual Loans Non-Accrual Loans Total Modifications March 31, 2019 (In Thousands) Commercial real estate $ 1,261 $ - $ 1,261 Commercial construction 260 - 260 Commercial 238 - 238 Residential real estate 1,139 22 1,161 Consumer - - - $ 2,898 $ 22 $ 2,920 December 31, 2018 Commercial real estate $ 1,269 $ - $ 1,269 Commercial construction 260 - 260 Commercial 239 - 239 Residential real estate 1,150 23 1,173 Consumer - - - $ 2,918 $ 23 $ 2,941 |
Right of Use Asset and Lease _2
Right of Use Asset and Lease Liability (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Right of Use Asset and Lease Liability [Abstract] | |
Reconciliation of Operating Lease Liabilities by Minimum Lease Payments by Year and in Aggregate and Discount Amounts in Aggregate | Branch Leases Equipment Third Parties Related Parties Leases Total (In Thousands) 2019 (remainder of year) $ 780 $ 520 $ 67 $ 1,367 2020 938 636 71 1,645 2021 955 649 34 1,638 2022 984 661 29 1,674 2023 1,002 673 4 1,679 Thereafter 2,017 2,053 1 4,071 Total Payments 6,676 5,192 206 12,074 Less: Discount Amount 741 630 9 1,380 Total Lease Liability $ 5,935 $ 4,562 $ 197 $ 10,694 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Deposits [Abstract] | |
Components Of Deposits | March 31, December 31, 2019 2018 (In Thousands) Demand, non-interest bearing $ 159,860 $ 148,609 Demand, NOW and money market, interest bearing 144,048 135,915 Savings 437,198 452,809 Time, $250 and over 89,495 70,337 Time, other 170,549 123,845 Total deposits $ 1,001,150 $ 931,515 |
Offsetting Assets And Liabili_2
Offsetting Assets And Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Offsetting Assets And Liabilities [Abstract] | |
Schedule Of Liabilities Subject To An Enforceable Master Netting Arrangement Or Repurchase Agreements | Net Amounts Gross Gross Amounts of Liabilities Amounts of Offset in the Presented in the Cash Recognized Consolidated Consolidated Financial Collateral Liabilities Balance Sheet Balance Sheet Instruments Pledged Net Amount (In Thousands) March 31, 2019 Repurchase Agreements: Corporate Institutions $ 10,950 $ - $ 10,950 $ (10,950) $ - $ - December 31, 2018 Repurchase Agreements: Corporate Institutions $ 18,883 $ - $ 18,883 $ (18,883) $ - $ - |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Other Comprehensive Income (Loss) [Abstract] | |
Components Of Other Comprehensive Income (Loss) | Three Months Ended March 31, 2019 2018 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive income (loss): Unrealized holding gains (losses) on securities available for sale $ 2,023 $ (425) $ 1,598 $ (1,632) $ 343 $ (1,289) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - - - - Total other comprehensive income (loss) $ 2,023 $ (425) $ 1,598 $ (1,632) $ 343 $ (1,289) A. Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying Consolidated Statements of Income. B. Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Summary Of Accumulated Other Comprehensive Income (Loss), Net Of Tax | Securities Available for Sale Three Months Ended March 31, 2019 and 2018 (In Thousands) Balance January 1, 2019 $ (1,247) Other comprehensive income before reclassifications 1,598 Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period 1,598 Balance March 31, 2019 $ 351 Balance January 1, 2018 $ 19 Other comprehensive loss before reclassifications (1,289) Amounts reclassified from accumulated other comprehensive income - Net other comprehensive loss during the period (1,289) Balance March 31, 2018 $ (1,270) |
Basic And Diluted Earnings Pe_2
Basic And Diluted Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Basic And Diluted Earnings Per Share [Abstract] | |
Earnings Per Share | Three Months Ended March 31, 2019 2018 (Dollars In Thousands, Except Share and Per Share Data) Net income $ 2,552 $ 2,377 Weighted average shares outstanding 7,469,950 7,470,180 Dilutive effect of potential common shares, stock options 58,889 61,910 Diluted weighted average common shares outstanding 7,528,839 7,532,090 Basic earnings per share $ 0.34 $ 0.32 Diluted earnings per share $ 0.34 $ 0.32 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Measurements [Abstract] | |
Fair Value Of Financial Assets Measured On Recurring Basis | (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) Municipal bonds $ - $ 32,580 $ - $ 32,580 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 52,774 - 52,774 March 31, 2019 Securities available for sale $ - $ 85,354 $ - $ 85,354 U.S. Government agency obligations $ - $ 2,997 $ - $ 2,997 Municipal bonds - 34,878 - 34,878 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 52,873 - 52,873 December 31, 2018 Securities available for sale $ - $ 90,748 $ - $ 90,748 |
Fair Value Of Financial Assets Measured On Nonrecurring Basis | (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) March 31, 2019 Impaired loans $ - $ - $ 862 $ 862 December 31, 2018 Impaired loans $ - $ - $ 868 $ 868 December 31, 2018 Other real estate owned $ - $ - $ 135 $ 135 |
Quantitative Information About Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements Description Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) (Dollars In Thousands) March 31, 2019: Impaired loans $ 862 Appraisal of collateral Appraisal adjustments (1) 0% to -25% ( -19.7% ) Liquidation expenses (2) 0% to -8.5% ( -8.0% ) December 31, 2018: Impaired loans $ 868 Appraisal of collateral Appraisal adjustments (1) 0% to -25% ( -19.7% ) Liquidation expenses (2) 0% to -8.5% ( -8.0% ) Other real estate owned $ 135 Listings, Letters of Intent Liquidation expenses (2) -5% ( -5% ) & Third Party Evaluations 1. Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. 2. Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. |
Estimated Fair Value Of Financial Instruments | (Level 1) Quoted (Level 2) (Level 3) Prices in Active Significant Other Significant Carrying Fair Value Markets for Observable Unobservable Amount Estimate Identical Assets Inputs Inputs (In Thousands) March 31, 2019: Financial assets: Cash and cash equivalents $ 37,411 $ 37,411 $ 37,411 $ - $ - Securities available-for-sale 85,354 85,354 - 85,354 - Loans receivable, net of allowance 960,407 959,404 - - 959,404 Restricted investments in bank stock 878 878 - 878 - Accrued interest receivable 2,253 2,253 - 2,253 - Financial liabilities: Deposits 1,001,150 1,001,356 - 1,001,356 - Securities sold under agreements to repurchase and federal funds purchased 10,950 10,941 - 10,941 - Accrued interest payable 2,305 2,305 - 2,305 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2018: Financial assets: Cash and cash equivalents $ 27,576 $ 27,576 $ 27,576 $ - $ - Securities available-for-sale 90,748 90,748 - 90,748 - Loans receivable, net of allowance 949,944 935,500 - - 935,500 Restricted investments in bank stock 2,794 2,794 - 2,794 - Accrued interest receivable 2,178 2,178 - 2,178 - Financial liabilities: Deposits 931,515 930,306 - 930,306 - Securities sold under agreements to repurchase and federal funds purchased 18,883 18,869 - 18,869 - Short-term borrowings 53,995 53,995 - 53,995 - Accrued interest payable 1,689 1,689 - 1,689 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - |
Basis Of Presentation (Details)
Basis Of Presentation (Details) | 3 Months Ended |
Mar. 31, 2019 | |
Basis Of Presentation [Abstract] | |
Reason for business combination | The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the "Bank") in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. |
Effective date of acquisition | Nov. 11, 2008 |
Securities Available For Sale_2
Securities Available For Sale (Narrative) (Details) | 3 Months Ended | ||
Mar. 31, 2019USD ($)security | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | |
Securities Available For Sale [Abstract] | |||
Sale of securities | $ 0 | $ 0 | |
Securities pledged as collateral | $ 85,400,000 | $ 85,800,000 | |
Securities in an unrealized loss position | security | 28 |
Securities Available For Sale_3
Securities Available For Sale (Amortized Cost And Fair Values Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 84,909 | $ 92,326 |
Gross Unrealized Gains | 1,136 | 642 |
Gross Unrealized Losses | (691) | (2,220) |
Fair Value | 85,354 | 90,748 |
U.S Government Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,001 | |
Gross Unrealized Losses | (4) | |
Fair Value | 2,997 | |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 32,144 | 35,171 |
Gross Unrealized Gains | 741 | 515 |
Gross Unrealized Losses | (305) | (808) |
Fair Value | 32,580 | 34,878 |
U.S. Government Sponsored Enterprise (GSE) - Mortgage-Backed Securities - Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 52,765 | 54,154 |
Gross Unrealized Gains | 395 | 127 |
Gross Unrealized Losses | (386) | (1,408) |
Fair Value | $ 52,774 | $ 52,873 |
Securities Available For Sale_4
Securities Available For Sale (Securities Available-For-Sale By Contractual Maturity) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Securities Available For Sale [Abstract] | ||
Amortized Cost, Due in one year or less | $ 2,865 | |
Amortized Cost, Due after one year through five years | 4,525 | |
Amortized Cost, Due after five years through ten years | 7,028 | |
Amortized Cost, Due after ten years | 17,726 | |
Amortized Cost, Debt Maturities, Total | 32,144 | |
Amortized Cost, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 52,765 | |
Amortized Cost | 84,909 | $ 92,326 |
Fair Value, Due in one year or less | 2,877 | |
Fair Value, Due after one year through five years | 4,574 | |
Fair Value, Due after five years through ten years | 6,974 | |
Fair Value, Due after ten years | 18,155 | |
Fair Value, Debt maturities, Total | 32,580 | |
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 52,774 | |
Fair Value, Total | $ 85,354 | $ 90,748 |
Securities Available For Sale_5
Securities Available For Sale (Investments' Gross Unrealized Losses And Fair Value) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | $ 12,157 | |
Fair Value, 12 Months or More | $ 42,037 | 46,648 |
Fair Value, Total | 42,037 | 58,805 |
Unrealized Losses, Less Than 12 Months | (158) | |
Unrealized Losses, 12 Months or More | (691) | (2,062) |
Unrealized Losses, Total | (691) | (2,220) |
U.S Government Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, 12 Months or More | 2,997 | |
Fair Value, Total | 2,997 | |
Unrealized Losses, 12 Months or More | (4) | |
Unrealized Losses, Total | (4) | |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 3,231 | |
Fair Value, 12 Months or More | 8,112 | 7,711 |
Fair Value, Total | 8,112 | 10,942 |
Unrealized Losses, Less Than 12 Months | (101) | |
Unrealized Losses, 12 Months or More | (305) | (707) |
Unrealized Losses, Total | (305) | (808) |
U.S. Government Sponsored Enterprise (GSE) - Mortgage-Backed Securities - Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 8,926 | |
Fair Value, 12 Months or More | 33,925 | 35,940 |
Fair Value, Total | 33,925 | 44,866 |
Unrealized Losses, Less Than 12 Months | (57) | |
Unrealized Losses, 12 Months or More | (386) | (1,351) |
Unrealized Losses, Total | $ (386) | $ (1,408) |
Restricted Investment In Bank_2
Restricted Investment In Bank Stock (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Federal Home Loan Bank of Pittsburgh [Member] | ||
FHLB stock repurchased | $ 2,600,000 | $ 889,000 |
Payments to acquire federal home loan bank stock | 677,000 | 1,200,000 |
Restricted stock dividends received | 43,000 | 5,000 |
Atlantic Community Bankers Bank (ACBB) [Member | ||
ACBB stock at a carrying value | 40,000 | 40,000 |
Payments to acquire ACBB stock | 0 | 0 |
Restricted stock dividends received | $ 1,000 | $ 1,000 |
Loans Receivable and Credit Q_3
Loans Receivable and Credit Quality (Narrative) (Details) | 3 Months Ended | ||
Mar. 31, 2019USD ($)loan | Mar. 31, 2018loan | Dec. 31, 2018USD ($) | |
Loans Receivable and Credit Quality [Abstract] | |||
Foreclosed assets | $ 0 | ||
Properties in process of foreclosure | 236,000 | $ 246,000 | |
Available commitments outstanding on TDRs | $ 0 | ||
Number of restructured loans | loan | 0 | ||
Number of loans experiencing payment default | loan | 0 | 0 |
Loans Receivable and Credit Q_4
Loans Receivable and Credit Quality (Composition Of Loans Receivable) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 100.00% | 100.00% |
Total Loans | $ 967,254 | $ 956,685 |
Unearned origination fees | 699 | 671 |
Allowance for Loan Losses | (7,546) | (7,412) |
Net Loans Receivable | $ 960,407 | $ 949,944 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 44.75% | 44.79% |
Total Loans | $ 432,803 | $ 428,487 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 4.22% | 4.02% |
Total Loans | $ 40,779 | $ 38,425 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 49.70% | 49.96% |
Total Loans | $ 480,739 | $ 477,965 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 0.09% | 0.09% |
Total Loans | $ 882 | $ 850 |
Construction [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 1.24% | 1.15% |
Total Loans | $ 12,051 | $ 10,958 |
Loans Receivable and Credit Q_5
Loans Receivable and Credit Quality (Schedule Of Loan Portfolio By Aggregate Risk Rating) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | $ 967,254 | $ 956,685 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 964,212 | 953,601 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 845 | 863 |
Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 2,197 | 2,221 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 432,803 | 428,487 |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 431,316 | 426,988 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 1,487 | 1,499 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 40,779 | 38,425 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 40,674 | 38,309 |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 105 | 116 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 480,739 | 477,965 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 479,604 | 476,811 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 740 | 747 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 395 | 407 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 882 | 850 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 882 | 850 |
Construction [Member] | Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 12,051 | 10,958 |
Construction [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 11,736 | 10,643 |
Construction [Member] | Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | $ 315 | $ 315 |
Loans Receivable and Credit Q_6
Loans Receivable and Credit Quality (Schedule Of Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | $ 2,700 | ||
Recorded Investment, With an allowance recorded | 1,100 | ||
Total Recorded Investment | 3,802 | $ 3,843 | |
Total Unpaid Principal Balance | 4,322 | 4,363 | |
Related Allowance | 215 | 219 | |
Total Average Recorded Investment Impaired | 3,824 | $ 9,076 | |
Total Interest Income Recognized | 32 | 73 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | 1,716 | 1,732 | |
Total Recorded Investment | 1,716 | 1,732 | |
Unpaid Principal Balance, With no related allowance recorded | 1,980 | 1,996 | |
Total Unpaid Principal Balance | 1,980 | 1,996 | |
Average Recorded Investment, With no related allowance recorded | 1,724 | 6,553 | |
Total Average Recorded Investment Impaired | 1,724 | 6,553 | |
Interest Income Recognized, With no related allowance recorded | 17 | 57 | |
Total Interest Income Recognized | 17 | 57 | |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With an allowance recorded | 238 | 239 | |
Total Recorded Investment | 238 | 239 | |
Unpaid Principal Balance, With an allowance recorded | 238 | 239 | |
Total Unpaid Principal Balance | 238 | 239 | |
Related Allowance | 32 | 33 | |
Average Recorded Investment, With an allowance recorded | 239 | 245 | |
Total Average Recorded Investment Impaired | 239 | 245 | |
Interest Income Recognized, With an allowance recorded | 2 | 2 | |
Total Interest Income Recognized | 2 | 2 | |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | 694 | 709 | |
Recorded Investment, With an allowance recorded | 839 | 848 | |
Total Recorded Investment | 1,533 | 1,557 | |
Unpaid Principal Balance, With no related allowance recorded | 950 | 965 | |
Unpaid Principal Balance, With an allowance recorded | 839 | 848 | |
Total Unpaid Principal Balance | 1,789 | 1,813 | |
Related Allowance | 183 | 186 | |
Average Recorded Investment, With no related allowance recorded | 702 | 982 | |
Average Recorded Investment, With an allowance recorded | 844 | 981 | |
Total Average Recorded Investment Impaired | 1,546 | 1,963 | |
Interest Income Recognized, With no related allowance recorded | 3 | 3 | |
Interest Income Recognized, With an allowance recorded | 7 | 8 | |
Total Interest Income Recognized | 10 | 11 | |
Construction [Member] | Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | 315 | 315 | |
Total Recorded Investment | 315 | 315 | |
Unpaid Principal Balance, With no related allowance recorded | 315 | 315 | |
Total Unpaid Principal Balance | 315 | $ 315 | |
Average Recorded Investment, With no related allowance recorded | 315 | 315 | |
Total Average Recorded Investment Impaired | 315 | 315 | |
Interest Income Recognized, With no related allowance recorded | 3 | 3 | |
Total Interest Income Recognized | $ 3 | $ 3 |
Loans Receivable and Credit Q_7
Loans Receivable and Credit Quality (Schedule Of Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 258 | $ 269 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 258 | $ 269 |
Loans Receivable and Credit Q_8
Loans Receivable and Credit Quality (Schedule Of Past Due Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 2,295 | $ 1,157 |
Current | 964,959 | 955,528 |
Total Loan Receivables | 967,254 | 956,685 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,208 | 1,157 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 87 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 868 | 323 |
Current | 431,935 | 428,164 |
Total Loan Receivables | 432,803 | 428,487 |
Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 868 | 323 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 198 | 138 |
Current | 40,581 | 38,287 |
Total Loan Receivables | 40,779 | 38,425 |
Commercial [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 198 | 138 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 490 | 696 |
Current | 480,249 | 477,269 |
Total Loan Receivables | 480,739 | 477,965 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 403 | 696 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 87 | |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 882 | 850 |
Total Loan Receivables | 882 | 850 |
Construction [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 739 | |
Current | 11,312 | 10,958 |
Total Loan Receivables | 12,051 | $ 10,958 |
Construction [Member] | Commercial [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 739 |
Loans Receivable and Credit Q_9
Loans Receivable and Credit Quality (Activity In Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $ 7,412 | $ 7,040 |
Recoveries | 4 | 11 |
Provision for loan losses | 130 | 215 |
Ending balance | 7,546 | 7,266 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 3,248 | 2,251 |
Recoveries | 7 | |
Provision for loan losses | 17 | 198 |
Ending balance | 3,265 | 2,456 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 574 | 472 |
Recoveries | 4 | |
Provision for loan losses | 20 | 3 |
Ending balance | 598 | 475 |
Commercial [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 94 | 369 |
Provision for loan losses | 9 | (120) |
Ending balance | 103 | 249 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 3,179 | 3,510 |
Recoveries | 4 | |
Provision for loan losses | 19 | (6) |
Ending balance | 3,198 | 3,508 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 19 | 18 |
Provision for loan losses | 2 | 4 |
Ending balance | 21 | 22 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 298 | 420 |
Provision for loan losses | 63 | 136 |
Ending balance | $ 361 | $ 556 |
Loans Receivable and Credit _10
Loans Receivable and Credit Quality (Allocation Of Allowance For Loan Losses And Related Loan Portfolio) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | $ 7,546 | $ 7,412 | $ 7,266 | $ 7,040 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 215 | 219 | ||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 7,331 | 7,193 | ||
Total Loan Receivables | 967,254 | 956,685 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 3,802 | 3,843 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 963,452 | 952,842 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 3,265 | 3,248 | 2,456 | 2,251 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 3,265 | 3,248 | ||
Total Loan Receivables | 432,803 | 428,487 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 1,716 | 1,732 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 431,087 | 426,755 | ||
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 598 | 574 | 475 | 472 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 32 | 33 | ||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 566 | 541 | ||
Total Loan Receivables | 40,779 | 38,425 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 238 | 239 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 40,541 | 38,186 | ||
Commercial [Member] | Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 103 | 94 | 249 | 369 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 103 | 94 | ||
Total Loan Receivables | 12,051 | 10,958 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 315 | 315 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 11,736 | 10,643 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 3,198 | 3,179 | 3,508 | 3,510 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 183 | 186 | ||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 3,015 | 2,993 | ||
Total Loan Receivables | 480,739 | 477,965 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 1,533 | 1,557 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 479,206 | 476,408 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 21 | 19 | 22 | 18 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 21 | 19 | ||
Total Loan Receivables | 882 | 850 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 882 | 850 | ||
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 361 | 298 | $ 556 | $ 420 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | $ 361 | $ 298 |
Loans Receivable and Credit _11
Loans Receivable and Credit Quality (Troubled Debt Restructuring Outstanding) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 2,920 | $ 2,941 |
Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 2,898 | 2,918 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 22 | 23 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 1,261 | 1,269 |
Commercial Real Estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 1,261 | 1,269 |
Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 238 | 239 |
Commercial [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 238 | 239 |
Commercial [Member] | Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 260 | 260 |
Commercial [Member] | Construction [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 260 | 260 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 1,161 | 1,173 |
Residential Real Estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 1,139 | 1,150 |
Residential Real Estate [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 22 | $ 23 |
Guarantees (Details)
Guarantees (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Guarantor Obligations [Line Items] | |
Guarantee obligations term | 1 year |
Maximum potential exposure | $ 4 |
Financial Standby Letter of Credit [Member] | |
Guarantor Obligations [Line Items] | |
Standby letters of credit | $ 4.6 |
Right of Use Asset and Lease _3
Right of Use Asset and Lease Liability (Narrative) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Right of use asset | $ 10,610 |
Lease liability | 10,694 |
Operating cash flow paid for lease liabilities | 408 |
Accounting Standards Update 2016-02 [Member] | |
Cost of operating leases | $ 386 |
Operating leases weighted average lease term | 7 years 5 months 1 day |
Operating leases weighted average discount rate | 3.17% |
Branch Leases [Member] | Accounting Standards Update 2016-02 [Member] | |
Operating leases weighted average lease term | 7 years 6 months |
Operating leases weighted average discount rate | 3.17% |
Equipment Leases [Member] | |
Lease liability | $ 197 |
Equipment Leases [Member] | Accounting Standards Update 2016-02 [Member] | |
Operating leases weighted average lease term | 3 years 22 days |
Operating leases weighted average discount rate | 2.82% |
Right of Use Asset and Lease _4
Right of Use Asset and Lease Liability (Reconciliation of Operating Lease Liabilities by Minimum Lease Payments by Year and in Aggregate and Discount Amounts in Aggregate) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
2019 (remainder of year) | $ 1,367 |
2020 | 1,645 |
2021 | 1,638 |
2022 | 1,674 |
2023 | 1,679 |
Thereafter | 4,071 |
Total payments | 12,074 |
Less: Discount Amount | 1,380 |
Total Lease Liability | 10,694 |
Branch Leases Third Parties [Member] | |
2019 (remainder of year) | 780 |
2020 | 938 |
2021 | 955 |
2022 | 984 |
2023 | 1,002 |
Thereafter | 2,017 |
Total payments | 6,676 |
Less: Discount Amount | 741 |
Total Lease Liability | 5,935 |
Branch Leases Related Parties [Member] | |
2019 (remainder of year) | 520 |
2020 | 636 |
2021 | 649 |
2022 | 661 |
2023 | 673 |
Thereafter | 2,053 |
Total payments | 5,192 |
Less: Discount Amount | 630 |
Total Lease Liability | 4,562 |
Equipment Leases [Member] | |
2019 (remainder of year) | 67 |
2020 | 71 |
2021 | 34 |
2022 | 29 |
2023 | 4 |
Thereafter | 1 |
Total payments | 206 |
Less: Discount Amount | 9 |
Total Lease Liability | $ 197 |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Deposits [Abstract] | |
Increase in time deposits | $ 65.9 |
Increase in non-interest bearing deposits | 11.3 |
Modest shift in savings deposits to higher yielding accounts | $ 15.6 |
Deposits (Components Of Deposit
Deposits (Components Of Deposits) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Deposits [Abstract] | ||
Demand, non-interest bearing | $ 159,860 | $ 148,609 |
Demand, NOW and money market, interest bearing | 144,048 | 135,915 |
Savings | 437,198 | 452,809 |
Time, $250 and over | 89,495 | 70,337 |
Time, other | 170,549 | 123,845 |
Total Deposits | $ 1,001,150 | $ 931,515 |
Offsetting Assets And Liabili_3
Offsetting Assets And Liabilities (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
Securities Pledged as Collateral [Member] | ||
Offsetting Liabilities [Line Items] | ||
Off-balance sheet financial instruments | $ 14.1 | $ 23.8 |
Offsetting Assets And Liabili_4
Offsetting Assets And Liabilities (Schedule Of Liabilities Subject To An Enforceable Master Netting Arrangement Or Repurchase Agreements) (Details) - Repurchase Agreements [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Recognized Liabilities | $ 10,950 | $ 18,883 |
Gross Amounts Offset in the Consolidated Balance Sheet | ||
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet | 10,950 | 18,883 |
Financial Instruments | (10,950) | (18,883) |
Cash Collateral Pledged | ||
Net Amount |
Short-Term And Long-Term Borr_2
Short-Term And Long-Term Borrowings (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Line of Credit Facility [Line Items] | ||
Maximum borrowing capacity | $ 549,800,000 | |
Short-term borrowings | $ 53,995,000 | |
Short-term advances with FHLB outstanding | 0 | 54,000,000 |
Long-term advances FHLB | $ 0 | 0 |
Maximum [Member] | ||
Line of Credit Facility [Line Items] | ||
Federal Home Loan Bank advance period | 60 months | |
Federal Home Loan Bank Advances [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit, maximum borrowing capacity | $ 150,000,000 | |
Atlantic Community Bankers Bank (ACBB) [Member | ||
Line of Credit Facility [Line Items] | ||
Line of credit, maximum borrowing capacity | 10,000,000 | 10,000,000 |
Line of credit outstanding | $ 0 | $ 0 |
Stock Incentive Plan And Empl_2
Stock Incentive Plan And Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands | 3 Months Ended | 102 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares issued under employee stock purchase plan, shares | 894 | 927 | |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock compensation expense | $ 1 | $ 1 | |
Unrecognized compensation cost | $ 3 | $ 3 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Awards granted | 10,799 | 6,731 | 140,113 |
Restricted stock awards compensation expense | $ 51 | $ 64 | |
Minimum [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period | 3 years | ||
Maximum [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period | 9 years | ||
Stock Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period | 10 years | ||
Number of shares authorized | 500,000 | 500,000 | |
Shares available for issuance | 243,644 | 243,644 | |
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares authorized | 350,000 | 350,000 | |
Minimum work hours per week | 20 hours | ||
Minimum months to be eligible to participate | 5 months | ||
Purchase price for share percentage equal to fair value of such shares | 95.00% | ||
Maximum discount to fair value percentage | 15.00% | ||
Shares issued under employee stock purchase plan, shares | 7,958 | ||
Employee stock purchase plan, discount expense | $ 1 | $ 1 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Other Comprehensive Income (Loss) [Abstract] | |||
Unrealized holding gains (losses) on securities available for sale, Before Tax | $ 2,023 | $ (1,632) | |
Unrealized holding gains (losses) on securities available for sale, Tax Effect | (425) | 343 | |
Unrealized holding gains (losses) on securities available for sale, Net of Tax | 1,598 | (1,289) | |
Reclassification adjustments for gains on securities transactions included in net income, Before Tax | [1],[2] | ||
Reclassification adjustments for gains on securities transactions included in net income: Tax Effect | [1],[2] | ||
Reclassification adjustments for gains on securities transactions included in net income: Net of Tax | [1],[2] | ||
Total other comprehensive income (loss), before tax | 2,023 | (1,632) | |
Total other comprehensive income (loss), Tax Effect | (425) | 343 | |
Other comprehensive income (loss), net of tax | $ 1,598 | $ (1,289) | |
[1] | Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying Consolidated Statements of Income. | ||
[2] | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Other Comprehensive Income (L_4
Other Comprehensive Income (Loss) (Summary Of Accumulated Other Comprehensive Income (Loss), Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Other Comprehensive Income (Loss) [Abstract] | ||
Beginning Balance | $ (1,247) | $ 19 |
Other comprehensive income (loss) before reclassifications | 1,598 | (1,289) |
Other comprehensive income (loss), net of tax | 1,598 | (1,289) |
Ending Balance | $ 351 | $ (1,270) |
Basic And Diluted Earnings Pe_3
Basic And Diluted Earnings Per Share (Narrative) (Details) - shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Basic And Diluted Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of diluted earnings per share | 0 | 0 |
Basic And Diluted Earnings Pe_4
Basic And Diluted Earnings Per Share (Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Basic And Diluted Earnings Per Share [Abstract] | ||
Net income | $ 2,552 | $ 2,377 |
Weighted average shares outstanding | 7,469,950 | 7,470,180 |
Dilutive effect of potential common shares, stock options | 58,889 | 61,910 |
Diluted weighted average common shares outstanding | 7,528,839 | 7,532,090 |
Basic earnings per share | $ 0.34 | $ 0.32 |
Diluted earnings per share | $ 0.34 | $ 0.32 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value Measurements [Abstract] | ||
Impaired loans aggregate balance | $ 3,802 | $ 3,843 |
Impaired loans without related allowance | 2,700 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,100 | |
Related Allowance | $ 215 | $ 219 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Of Financial Assets Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 85,354 | $ 90,748 |
U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 2,997 | |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 32,580 | 34,878 |
U.S. Government Sponsored Enterprise (GSE) - Mortgage-Backed Securities - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 52,774 | 52,873 |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | U.S. Government Sponsored Enterprise (GSE) - Mortgage-Backed Securities - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 85,354 | 90,748 |
(Level 2) Significant Other Observable Inputs [Member] | U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 2,997 | |
(Level 2) Significant Other Observable Inputs [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 32,580 | 34,878 |
(Level 2) Significant Other Observable Inputs [Member] | U.S. Government Sponsored Enterprise (GSE) - Mortgage-Backed Securities - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 52,774 | 52,873 |
(Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 3) Significant Unobservable Inputs [Member] | U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 3) Significant Unobservable Inputs [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 3) Significant Unobservable Inputs [Member] | U.S. Government Sponsored Enterprise (GSE) - Mortgage-Backed Securities - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Of Financial Assets Measured On Nonrecurring Basis) (Details) - FV determined through independent appraisals of the underlying collateral [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset fair value | $ 862 | $ 868 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset fair value | 135 | |
(Level 3) Significant Unobservable Inputs [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset fair value | $ 862 | 868 |
(Level 3) Significant Unobservable Inputs [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset fair value | $ 135 |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Information About Level 3 Fair Value Measurements) (Details) - (Level 3) Significant Unobservable Inputs [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | ||
Impaired Loans [Member] | Appraisal Adjustment [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset fair value | $ 862 | $ 868 | |
Impaired Loans [Member] | Appraisal Adjustment [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [1] | (25.00%) | (25.00%) |
Impaired Loans [Member] | Appraisal Adjustment [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [1] | 0.00% | 0.00% |
Impaired Loans [Member] | Appraisal Adjustment [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [1] | (19.70%) | (19.70%) |
Impaired Loans [Member] | Liquidation Expenses [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [2] | (8.50%) | (8.50%) |
Impaired Loans [Member] | Liquidation Expenses [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [2] | 0.00% | 0.00% |
Impaired Loans [Member] | Liquidation Expenses [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [2] | (8.00%) | (8.00%) |
Other Real Estate Owned [Member] | Liquidation Expenses [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset fair value | $ 135 | ||
Range (Weighted Average) | [2] | (5.00%) | |
Other Real Estate Owned [Member] | Liquidation Expenses [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [2] | (5.00%) | |
[1] | Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. | ||
[2] | Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. |
Fair Value Measurements (Estima
Fair Value Measurements (Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | $ 85,354 | $ 90,748 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 37,411 | 27,576 |
Securities available for sale | 85,354 | 90,748 |
Loans receivable, net of allowance | 960,407 | 949,944 |
Restricted investments in bank stock | 878 | 2,794 |
Accrued interest receivable | 2,253 | 2,178 |
Deposits | 1,001,150 | 931,515 |
Securities sold under agreements to repurchase and federal funds purchased | 10,950 | 18,883 |
Short-term borrowings | 53,995 | |
Accrued interest payable | 2,305 | 1,689 |
Fair Value Estimate [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 37,411 | 27,576 |
Securities available for sale | 85,354 | 90,748 |
Loans receivable, net of allowance | 959,404 | 935,500 |
Restricted investments in bank stock | 878 | 2,794 |
Accrued interest receivable | 2,253 | 2,178 |
Deposits | 1,001,356 | 930,306 |
Securities sold under agreements to repurchase and federal funds purchased | 10,941 | 18,869 |
Short-term borrowings | 53,995 | |
Accrued interest payable | 2,305 | 1,689 |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 37,411 | 27,576 |
Securities available for sale | ||
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | 85,354 | 90,748 |
Restricted investments in bank stock | 878 | 2,794 |
Accrued interest receivable | 2,253 | 2,178 |
Deposits | 1,001,356 | 930,306 |
Securities sold under agreements to repurchase and federal funds purchased | 10,941 | 18,869 |
Short-term borrowings | 53,995 | |
Accrued interest payable | 2,305 | 1,689 |
(Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | ||
Loans receivable, net of allowance | $ 959,404 | $ 935,500 |