Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 23, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Bank of Commerce Holdings | |
Entity Central Index Key | 702,513 | |
Trading Symbol | boch | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 16,315,402 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Assets: | |||
Cash and due from banks | $ 16,247 | $ 17,979 | |
Interest-bearing deposits in other banks | 17,376 | 48,991 | |
Total cash and cash equivalents | 33,623 | 66,970 | |
Securities available-for-sale, at fair value | 255,917 | 267,954 | |
Loans, net of deferred fees and costs | 902,133 | 881,545 | |
Allowance for loan and lease losses | (12,295) | (11,925) | |
Net loans | 889,838 | 869,620 | |
Premises and equipment, net | 14,214 | 14,748 | |
Other real estate owned | 60 | 35 | |
Life insurance | 22,027 | 21,898 | |
Deferred tax asset, net | 7,523 | 6,505 | |
Goodwill and core deposit intangible, net | 1,975 | 2,030 | |
Other assets | 20,398 | 19,661 | |
Total assets | 1,245,575 | 1,269,421 | |
Liabilities: | |||
Demand - noninterest-bearing | 301,981 | 305,650 | |
Demand - interest-bearing | 462,551 | 496,990 | |
Savings | 107,986 | 110,837 | |
Certificates of deposit | 176,233 | 189,255 | |
Total deposits | 1,048,751 | 1,102,732 | |
Federal Home Loan Bank of San Francisco borrowings | 30,000 | ||
Long-term debt, gross | 16,196 | 17,096 | |
Less unamortized debt issuance costs | (127) | (138) | |
Net term debt | 46,069 | 16,958 | |
Junior subordinated debentures | 10,310 | 10,310 | |
Other liabilities | 12,723 | 12,157 | |
Total liabilities | 1,117,853 | 1,142,157 | |
Commitments and contingencies (Note 7) | |||
Shareholders' equity: | |||
Common stock, no par value, 50,000,000 shares authorized: issued and outstanding - 16,315,402 as of March 31, 2018 and 16,271,563 as of December 31, 2017 | 51,959 | 51,830 | |
Retained earnings | 78,507 | 75,700 | |
Accumulated other comprehensive loss, net of tax | (2,744) | (266) | |
Total shareholders' equity | [1] | 127,722 | 127,264 |
Total liabilities and shareholders' equity | $ 1,245,575 | $ 1,269,421 | |
[1] | Excludes 74 unvested restricted shares |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, issued (in shares) | 16,315,402 | 16,271,563 |
Common stock, outstanding (in shares) | 16,315,402 | 16,271,563 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Interest income: | |||
Interest and fees on loans | $ 10,729 | $ 9,384 | |
Interest on taxable securities | 1,209 | 789 | |
Interest on tax-exempt securities | 463 | 530 | |
Interest on interest-bearing deposits in other banks | 129 | 114 | |
Total interest income | 12,530 | 10,817 | |
Interest expense: | |||
Interest on demand deposits | 221 | 148 | |
Interest on savings deposits | 59 | 47 | |
Interest on certificates of deposit | 495 | 529 | |
Interest on Federal Home Loan Bank of San Francisco borrowings | 47 | ||
Interest other borrowings | 281 | 293 | |
Interest on junior subordinated debentures | 82 | 66 | |
Total interest expense | 1,185 | 1,083 | |
Net interest income | 11,345 | 9,734 | |
Provision for loan and lease losses | 200 | ||
Net interest income after provision for loan and lease losses | 11,345 | 9,534 | |
Noninterest income: | |||
Fees on payroll and benefit processing | 169 | 191 | |
Life insurance | 129 | 646 | |
Gain on sale of investment securities, net | 36 | 66 | |
Federal Home Loan Bank of San Francisco dividends | 80 | 103 | |
Gain (loss) on sale of OREO | 16 | (71) | |
Other income | 110 | 143 | |
Total noninterest income | 982 | 1,471 | |
Noninterest expense: | |||
Salaries and related benefits | 4,855 | 4,858 | |
Premises and equipment | 1,071 | 1,048 | |
Federal Deposit Insurance Corporation insurance premium | 96 | 48 | |
Data processing fees | 432 | 406 | |
Professional service fees | 345 | 384 | |
Telecommunications | 216 | 211 | |
Other expenses | 1,018 | 1,035 | |
Total noninterest expense | 8,033 | 7,990 | |
Income before provision for income taxes | 4,294 | 3,015 | |
Provision for income taxes | 1,053 | 763 | |
Net income | $ 3,241 | $ 2,252 | |
Earnings per share - basic (in dollars per share) | $ 0.20 | $ 0.17 | |
Weighted average shares - basic (in shares) | [1] | 16,225 | 13,416 |
Earnings per share - diluted (in dollars per share) | $ 0.20 | $ 0.17 | |
Weighted average shares - diluted (in shares) | 16,310 | 13,521 | |
Deposit Account [Member] | |||
Noninterest income: | |||
Revenue from Contract with Customer | $ 176 | $ 127 | |
Credit and Debit Card [Member] | |||
Noninterest income: | |||
Revenue from Contract with Customer | $ 266 | $ 266 | |
[1] | Excludes unvested restricted shares because they do not have dividend or voting rights |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net income | $ 3,241 | $ 2,252 |
Available-for-sale securities : | ||
Unrealized (losses) gains arising during the period | (3,407) | 518 |
Income taxes | 1,007 | (213) |
Change in unrealized (losses) gains, net of tax | (2,400) | 305 |
Reclassification adjustment for realized gains included in net income | (36) | (66) |
Income taxes | 10 | 27 |
Realized gains, net of tax | (26) | (39) |
Net (decrease) increase in unrealized gains on available-for-sale securities | (2,426) | 266 |
Held-to-maturity securities : | ||
Amortization of held-to-maturity fair value adjustment | (17) | |
Income taxes | 7 | |
Net change in fair value adjustment on held-to-maturity securities | (10) | |
Other comprehensive (loss) income | (2,426) | 256 |
Comprehensive income – Bank of Commerce Holdings | $ 815 | $ 2,508 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | ||
Balance (in shares) at Dec. 31, 2016 | 13,373,000 | |||||
Balance at Dec. 31, 2016 | $ 24,547 | $ 70,218 | $ (659) | $ 94,106 | ||
Net income | 2,252 | |||||
Other comprehensive income, net of tax | 256 | 256 | ||||
Comprehensive income | 2,508 | |||||
Balance at Mar. 31, 2017 | (403) | |||||
Balance (in shares) at Dec. 31, 2016 | 13,373,000 | |||||
Balance at Dec. 31, 2016 | $ 24,547 | 70,218 | (659) | 94,106 | ||
Net income | 7,344 | 7,344 | ||||
Other comprehensive income, net of tax | 393 | 393 | ||||
Comprehensive income | 7,737 | |||||
Dividend on common stock | (1,862) | (1,862) | ||||
Stock issued pursuant to public offering, net of underwriting discounts and expenses of $1.7 million (in shares) | 2,738,000 | |||||
Stock issued pursuant to public offering, net of underwriting discounts and expenses of $1.7 million | $ 26,778 | 26,778 | ||||
Stock compensation grants (in shares) | 4,000 | |||||
Stock compensation grants | $ 41 | 41 | ||||
Common stock issued under employee plans (in shares) | 30,000 | |||||
Stock options exercised (in shares) | 52,000 | |||||
Stock options exercised | $ 245 | 245 | ||||
Compensation expense associated with stock options | 23 | 23 | ||||
Compensation expense associated with restricted stock, net of cash paid when directly withholding shares for tax-withholding purposes | $ 196 | $ 196 | ||||
Balance (in shares) at Dec. 31, 2017 | 16,197,000 | [1] | 16,271,563 | |||
Balance at Dec. 31, 2017 | [1] | $ 51,830 | 75,700 | (266) | $ 127,264 | |
Net income | 3,241 | 3,241 | ||||
Other comprehensive income, net of tax | (2,426) | (2,426) | ||||
Comprehensive income | 815 | |||||
Dividend on common stock | (486) | (486) | ||||
Stock compensation grants (in shares) | 4,000 | |||||
Stock compensation grants | $ 45 | 45 | ||||
Common stock issued under employee plans (in shares) | 21,000 | |||||
Stock options exercised (in shares) | 19,000 | |||||
Stock options exercised | $ 113 | 113 | ||||
Compensation expense associated with stock options | 3 | 3 | ||||
Compensation expense associated with restricted stock, net of cash paid when directly withholding shares for tax-withholding purposes | $ (32) | $ (32) | ||||
Reclassification of accumulated other comprehensive income due to tax rate change | 52 | (52) | ||||
Balance (in shares) at Mar. 31, 2018 | 16,241,000 | [1] | 16,315,402 | |||
Balance at Mar. 31, 2018 | [1] | $ 51,959 | $ 78,507 | $ (2,744) | $ 127,722 | |
[1] | Excludes 74 unvested restricted shares |
Consolidated Statements of Sha7
Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Retained Earnings [Member] | ||
Dividends on common stock (in dollars per share) | $ 0.03 | $ 0.12 |
Common Stock [Member] | ||
Stock issued pursuant to public offering, issuance costs | $ 1.7 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 3,241 | $ 2,252 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan and lease losses | 200 | |
Provision for depreciation and amortization | 506 | 529 |
Amortization of core deposit intangible | 55 | 56 |
Amortization of debt issuance costs | 11 | 11 |
Compensation expense associated with stock options | 3 | 5 |
Compensation expense associated with restricted stock | 71 | 65 |
Tax benefits from vesting of restricted stock | (31) | |
Net gain on sale or call of securities | (36) | (66) |
Amortization of investment premiums and accretion of discounts, net | 511 | 471 |
Amortization of held-to-maturity fair value adjustments | (17) | |
(Gain) on disposal of fixed assets | (5) | |
(Gain) loss on sale of OREO | (16) | 71 |
Increase in cash surrender value of life insurance | (129) | (144) |
Life insurance death benefit | (502) | |
(Decrease) increase in deferred compensation and salary continuation plans | (1) | 18 |
Increase in deferred loan fees and costs | (3) | (122) |
Decrease in other assets | 488 | 1,233 |
Increase (decrease) in other liabilities | 682 | (164) |
Net cash provided by operating activities | 5,347 | 3,896 |
Cash flows from investing activities: | ||
Proceeds from maturities and payments of available-for-sale securities | 7,910 | 4,317 |
Proceeds from sale of available-for-sale securities | 19,398 | 13,927 |
Purchases of available-for-sale securities | (20,334) | (24,623) |
Investment in qualified affordable housing partnerships | (31) | (7) |
Loan originations, net of principal repayments | (23,136) | (7,837) |
Net repayment on loan pools | 2,861 | 1,630 |
Purchase of premises and equipment | (48) | (206) |
Proceeds from the sale of other real estate owned | 51 | |
Proceeds from life insurance policy | 2,249 | |
Net cash used in investing activities | (13,329) | (10,550) |
Cash flows from financing activities: | ||
Net (decrease) increase in demand deposits and savings accounts | (40,959) | 1,658 |
Net decrease in certificates of deposit | (13,022) | (1,834) |
Advances on term debt | 70,000 | |
Repayment of term debt | (40,900) | (250) |
Proceeds from stock options exercised | 113 | 218 |
Cash paid when directly withholding shares for tax-withholding purposes | (111) | (85) |
Cash dividends paid on common stock | (486) | (401) |
Net cash used in financing activities | (25,365) | (694) |
Net decrease in cash and cash equivalents | (33,347) | (7,348) |
Cash and cash equivalents at beginning of year | 66,970 | 68,407 |
Cash and cash equivalents at end of period | 33,623 | 61,059 |
Supplemental disclosures of cash flow activity: | ||
Interest | 1,043 | 924 |
Supplemental disclosures of non cash investing activities: | ||
Transfer of loans to other real estate owned | 60 | 121 |
Unrealized (loss) gain on investment securities available-for-sale | (3,443) | 452 |
Changes in net deferred tax asset related to changes in unrealized loss (gain) on investment securities available-for-sale | 1,017 | (186) |
Changes in accumulated other comprehensive income due to changes in unrealized (loss) gain on investment securities available-for-sale | (2,426) | 266 |
Accretion of held-to-maturity investment securities from other comprehensive income to interest income | (17) | |
Changes in deferred tax related to accretion of held-to-maturity investment securities | 7 | |
Changes in accumulated other comprehensive income due to accretion of held-to-maturity investment securities | (10) | |
Reclassification of accumulated other comprehensive income due to tax rate change | 52 | |
Supplemental disclosures of non cash financing activities: | ||
Stock issued under employee plans | 45 | 42 |
Cash dividend declared on common shares and payable after period-end | $ 486 | $ 404 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1. Bank of Commerce Holdings (“Company,” “Holding Company,” “we,” or “us”), is a bank holding company (“BHC”) with its principal offices in Sacramento, California. The Holding Company’s principal business is to serve as a holding company for Redding Bank of Commerce (the “Bank” and together with the Holding Company, the “Company”) which operates under two Balance Sheets March 31, 2018 December 31, 2017 not The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and with prevailing practices within the banking and securities industries. In preparing such consolidated financial statements, management is required to make certain estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the Balance Sheets and the reported amounts of revenues and expenses for the reporting periods. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change relate to the valuation of investments and impairments of securities, the determination of the allowance for loan and lease losses (“ALLL”), income taxes, the valuation of goodwill and Other Real Estate Owned (“OREO”), and fair value measurements. Certain amounts for prior periods have been reclassified to conform to the current financial statement presentation. The results of reclassifications are not no 2017 10 2018 not Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Holding Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. As of March 31, 2018 December 31, 2017, one 2005 not 810, Consolidation 810” Consolidated Balance Sheets Revenue from Contracts with Customers We record revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers 606” 606, not Our primary sources of revenue are derived from interest and dividends earned on loans, investment securities, and other financial instruments that are not 606. not 606 Application of new accounting guidance ASU No. 2014 09 In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 2014 09 January 1, 2017. August 2015, 2015 14, Revenue from Contracts with Customers - Deferral of the Effective Date one 2014 09. 2016 08, Principal versus Agent Considerations 2016 10, Identifying Performance Obligations and Licensing 2016 12, Narrow-Scope Improvements and Practical Expedients 2016 20, Technical Corrections and Improvements to Topic 606 2014 09, January 1, 2018, no ASU No. 2016 01 Description - In January 2016, No. 2016 01, Financial Instruments – Overall (Subtopic 825 10 January 1, 2018, not 9 Fair Values ASU No. 2018 02 In February 2018, 2018 02, Income Statement – Reporting Comprehensive Income (Topic 220 not December 15, 2018, 2018 02 January 1, 2018 $52 |
Note 2 - Common Stock Outstandi
Note 2 - Common Stock Outstanding and Earnings Per Share | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 2. On May 10, 2017, $10.50 2,738,096 $26.8 Basic earnings per share excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding for the period, excluding unvested restricted stock awards which do not not The following is a computation of basic and diluted earnings per share for the three March 31, 2018 2017. For the Three Months Ended (Amounts in thousands, except per share information) March 31, Earnings Per Share 2018 2017 Numerators: Net income $ 3,241 $ 2,252 Denominators: Weighted average number of common shares outstanding - basic (1) 16,225 13,416 Effect of potentially dilutive common shares (2) 85 105 Weighted average number of common shares outstanding - diluted 16,310 13,521 Earnings per common share: Basic $ 0.20 $ 0.17 Diluted $ 0.20 $ 0.17 Anti-dilutive options not included in diluted earnings per share calculation — — Anti-dilutive restricted shares not included in diluted earnings per share calculation 41,915 33,068 ( 1 not ( 2 |
Note 3 - Securities
Note 3 - Securities | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3. The following table presents the amortized costs, unrealized gains, unrealized losses and estimated fair values of our investment securities as of March 31, 2018, December 31, 2017. As of March 31, 2018 Gross Gross Amortized Unrealized Unrealized Estimated (Amounts in thousands) Cost Gain Loss Fair Value Available-for-sale securities: U.S. government & agencies $ 41,261 $ 270 $ (352 ) $ 41,179 Obligations of state and political subdivisions 58,832 1,387 (811 ) 59,408 Residential mortgage-backed securities and collateralized mortgage obligations 129,111 18 (3,562 ) 125,567 Corporate securities 4,065 7 (114 ) 3,958 Commercial mortgage-backed securities 26,261 12 (753 ) 25,520 Other asset-backed securities 282 3 — 285 Total $ 259,812 $ 1,697 $ (5,592 ) $ 255,917 As of December 31, 2017 Gross Gross Amortized Unrealized Unrealized Estimated (Amounts in thousands) Cost Gain Loss Fair Value Available-for-sale securities: U.S. government & agencies $ 40,319 $ 196 $ (146 ) $ 40,369 Obligations of state and political subdivisions 77,412 1,910 (478 ) 78,844 Residential mortgage-backed securities and collateralized mortgage obligations 116,061 69 (1,538 ) 114,592 Corporate securities 5,079 18 (105 ) 4,992 Commercial mortgage-backed securities 26,995 24 (378 ) 26,641 Other asset-backed securities 2,540 4 (28 ) 2,516 Total $ 268,406 $ 2,221 $ (2,673 ) $ 267,954 The following table presents the expected maturities of investment securities at March 31, 2018. Available-For-Sale (Amounts in thousands) Amortized Cost Fair Value Amounts maturing in: One year or less $ 110 $ 112 After one year through five years 84,710 83,229 After five years through ten years 88,333 86,912 After ten years 86,659 85,664 Total $ 259,812 $ 255,917 The amortized cost and fair value of residential mortgage-backed securities, collateralized mortgage obligations and commercial mortgage securities are presented by their expected average life, rather than contractual maturity, because the underlying loans may At March 31, 2018 December 31, 2017 $61.6 $62.6 The following table presents the cash proceeds from sales of securities and the associated gross realized gains and gross realized losses that have been included in earnings for the three March 31, 2018 2017. Three Months Ended March 31, (Amounts in thousands) 2018 2017 Proceeds from sales of securities $ 19,398 $ 13,927 Gross realized gains on sales of securities: Obligations of state and political subdivisions $ 152 $ 51 Residential mortgage-backed securities and collateralized mortgage obligations — 17 Corporate securities — 1 Total gross realized gains on sales of securities 152 69 Gross realized losses on sales of securities: Obligations of state and political subdivisions (71 ) — Corporate securities — (3 ) Other asset-backed securities (45 ) — Total gross realized losses on sales of securities (116 ) (3 ) Gain on investment securities, net $ 36 $ 66 Investment securities that were in an unrealized loss position as of March 31, 2018 December 31, 2017 As of March 31, 2018 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Amounts in thousands) Value Losses Value Losses Value Losses Available-for-sale securities: U.S. government & agencies $ 15,195 $ (286 ) $ 2,003 $ (66 ) $ 17,198 $ (352 ) Obligations of states and political subdivisions 17,412 (534 ) 5,809 (277 ) 23,221 (811 ) Residential mortgage-backed securities and collateralized mortgage obligations 88,513 (2,288 ) 31,013 (1,274 ) 119,526 (3,562 ) Corporate securities — — 2,920 (114 ) 2,920 (114 ) Commercial mortgage-backed securities 13,965 (409 ) 9,684 (344 ) 23,649 (753 ) Total temporarily impaired securities $ 135,085 $ (3,517 ) $ 51,429 $ (2,075 ) $ 186,514 $ (5,592 ) As of December 31, 2017 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Amounts in thousands) Value Loss Value Loss Value Loss Available-for-sale securities: U.S. government & agencies $ 18,140 $ (102 ) $ 2,131 $ (44 ) $ 20,271 $ (146 ) Obligations of states and political subdivisions 15,030 (255 ) 8,368 (223 ) 23,398 (478 ) Residential mortgage-backed securities and collateralized mortgage obligations 75,323 (827 ) 31,036 (711 ) 106,359 (1,538 ) Corporate securities — — 2,934 (105 ) 2,934 (105 ) Commercial mortgage-backed securities 11,162 (151 ) 10,026 (227 ) 21,188 (378 ) Other asset-backed securities 2,167 (28 ) — — 2,167 (28 ) Total temporarily impaired securities $ 121,822 $ (1,363 ) $ 54,495 $ (1,310 ) $ 176,317 $ (2,673 ) At March 31, 2018 December 31, 2017, 155 138, not A3/A not no not The following table presents the characteristics of our securities that are in unrealized loss positions at March 31, 2018 December 31, 2017. Characteristics of securities in unrealized loss positions at Available-for-sale securities: March 31, 2018 December 31, 2017 U.S. government & agencies Direct obligations of the U.S. Government or obligations guaranteed by U.S. Government agencies. Obligations of states and political subdivisions General obligation issuances or revenue securities secured by revenues from specific sources issued by municipalities and political subdivisions located within the U.S. Residential mortgage-backed securities and collateralized mortgage obligations Obligations of U.S. government sponsored entities or non-governmental entities collateralized by high quality mortgages on residential properties. Issuances by non-governmental entities usually include good credit enhancements. Of the residential mortgage-backed securities and collateralized mortgage obligations that we owned at March 31, 2018 December 31, 2017, 61% 56% Corporate securities Debt obligations generally issued or guaranteed by large U.S. corporate institutions. Commercial mortgage-backed securities Obligations of U.S. government sponsored entities or non-governmental entities collateralized by high quality mortgages on commercial properties. Issuances by non-governmental entities usually include good credit enhancements. Of the commercial mortgage-backed securities that we owned at March 31, 2018 December 31, 2017, 90% Other asset-backed securities Obligations secured by high quality loans with good credit enhancements issued by non-governmental issuers. |
Note 4 - Loans
Note 4 - Loans | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4. Outstanding loan balances consisted of the following at March 31, 2018, December 31, 2017. (Amounts in thousands) March 31, December 31, Loan Portfolio 2018 2017 Commercial $ 137,870 $ 142,405 Commercial real estate: Real estate - construction and land development 14,723 15,902 Real estate - commercial non-owner occupied 405,192 377,668 Real estate - commercial owner occupied 193,286 192,023 Residential real estate: Real estate - residential - Individual Tax Identification Number (“ITIN”) 40,425 41,188 Real estate - residential - 1-4 family mortgage 30,247 30,377 Real estate - residential - equity lines 30,520 30,347 Consumer and other 48,157 49,925 Gross loans 900,420 879,835 Deferred fees and costs 1,713 1,710 Loans, net of deferred fees and costs 902,133 881,545 Allowance for loan and lease losses (12,295 ) (11,925 ) Net loans $ 889,838 $ 869,620 Certain loans are pledged as collateral with the Federal Home Loan Bank of San Francisco and the Federal Reserve Bank. Pledged loans totaled $445.3 $420.0 March 31, 2018 December 31, 2017, BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) When we purchase loans they are typically purchased at a discount to enhance yield and compensate for credit risk. Gross loan balances in the table above include net purchase discounts of $2.8 March 31, 2018, December 31, 2017. Past Due Loans An age analysis of past due loans (gross), segregated by class, as of March 31, 2018, December 31, 2017, Greater Recorded (Amounts in thousands) 30-59 60-89 Than 90 Investment > Past Due Loans at Days Past Days Past Days Past Total Past 90 Days and March 31, 2018 Due Due Due Due Current Total Accruing Commercial $ 133 $ — $ — $ 133 $ 137,737 $ 137,870 $ — Commercial real estate: Real estate - construction and land development — — — — 14,723 14,723 — Real estate - commercial non-owner occupied — — — — 405,192 405,192 — Real estate - commercial owner occupied — — — — 193,286 193,286 — Residential real estate: Real estate - residential - ITIN 670 70 428 1,168 39,257 40,425 — Real estate - residential - 1-4 family mortgage — — — — 30,247 30,247 — Real estate - residential - equity lines 140 7 — 147 30,373 30,520 — Consumer and other 225 35 — 260 47,897 48,157 — Total $ 1,168 $ 112 $ 428 $ 1,708 $ 898,712 $ 900,420 $ — Greater Recorded (Amounts in thousands) 30-59 60-89 Than 90 Investment > Past Due Loans at Days Past Days Past Days Past Total Past 90 Days and December 31, 2017 Due Due Due Due Current Total Accruing Commercial $ — $ — $ — $ — $ 142,405 $ 142,405 $ — Commercial real estate: Real estate - construction and land development — — — — 15,902 15,902 — Real estate - commercial non-owner occupied — — — — 377,668 377,668 — Real estate - commercial owner occupied 142 — — 142 191,881 192,023 — Residential real estate: Real estate - residential - ITIN 555 122 462 1,139 40,049 41,188 — Real estate - residential - 1-4 family mortgage 290 173 — 463 29,914 30,377 — Real estate - residential - equity lines 141 — — 141 30,206 30,347 — Consumer and other 281 123 — 404 49,521 49,925 — Total $ 1,409 $ 418 $ 462 $ 2,289 $ 877,546 $ 879,835 $ — Nonaccrual Loans Nonaccrual loans, segregated by loan class, were as follows as of March 31, 2018 December 31, 2017. (Amounts in thousands) March 31, December 31, Nonaccrual Loans 2018 2017 Commercial $ 1,109 $ 1,603 Commercial real estate: Real estate - commercial owner occupied — 600 Residential real estate: Real estate - residential - ITIN 2,839 2,909 Real estate - residential - 1-4 family mortgage 188 606 Real estate - residential - equity lines 45 45 Consumer and other 35 36 Total $ 4,216 $ 5,799 BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) Had nonaccrual loans performed in accordance with their contractual terms, we would have recognized additional interest income, net of tax, of approximately $43 $104 three March 31, 2018 2017, Impaired Loans The following tables summarize impaired loans by loan class as of March 31, 2018, December 31, 2017. As of March 31, 2018 Unpaid (Amounts in thousands) Recorded Principal Related Impaired Loans Investment Balance Allowance With no related allowance recorded: Commercial $ 83 $ 97 $ — Residential real estate: Real estate - residential - ITIN 6,047 7,702 — Real estate - residential - 1-4 family mortgage 188 224 — Real estate - residential - equity lines 45 48 — Total with no related allowance recorded $ 6,363 $ 8,071 $ — With an allowance recorded: Commercial $ 2,542 $ 2,614 $ 614 Commercial real estate: Real estate - commercial non-owner occupied 800 800 121 Residential real estate: Real estate - residential - ITIN 1,346 1,382 155 Real estate - residential - equity lines 376 376 188 Consumer and other 35 35 11 Total with an allowance recorded $ 5,099 $ 5,207 $ 1,089 By loan class: Commercial $ 2,625 $ 2,711 $ 614 Commercial real estate 800 800 121 Residential real estate 8,002 9,732 343 Consumer and other 35 35 11 Total impaired loans $ 11,462 $ 13,278 $ 1,089 BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) As of December 31, 2017 (Amounts in thousands) Recorded Principal Related Impaired Loans Investment Balance Allowance With no related allowance recorded: Commercial $ 672 $ 1,205 $ — Commercial real estate: Real estate - commercial owner occupied 600 665 — Residential real estate: Real estate - residential - ITIN 5,895 7,516 — Real estate - residential - 1-4 family mortgage 414 897 — Real estate - residential - equity lines 45 49 — Consumer and other — — — Total with no related allowance recorded $ 7,626 $ 10,332 $ — With an allowance recorded: Commercial $ 2,482 $ 2,540 $ 690 Commercial real estate: Real estate - commercial non-owner occupied 803 803 77 Residential real estate: Real estate - residential - ITIN 1,628 1,678 199 Real estate - residential - 1-4 family mortgage 192 226 2 Real estate - residential - equity lines 380 380 190 Consumer and other 36 36 11 Total with an allowance recorded $ 5,521 $ 5,663 $ 1,169 By loan class: Commercial $ 3,154 $ 3,745 $ 690 Commercial real estate 1,403 1,468 77 Residential real estate 8,554 10,746 391 Consumer and other 36 36 11 Total impaired loans $ 13,147 $ 15,995 $ 1,169 The following table summarizes our average recorded investment and interest income recognized on impaired loans by loan class for the three March 31, 2018 2017. Three Months Ended Three Months Ended March 31, 2018 March 31, 2017 Average Interest Average Interest (Amounts in thousands) Recorded Income Recorded Income Average Recorded Investment and Interest Income Investment Recognized Investment Recognized Commercial $ 2,589 $ 21 $ 3,396 $ 10 Commercial real estate: Real estate - commercial non-owner occupied 802 11 2,004 11 Real estate - commercial owner occupied — — 809 2 Residential real estate: Real estate - residential - ITIN 7,425 41 8,272 40 Real estate - residential - 1-4 family mortgage 326 — 1,728 — Real estate - residential - equity lines 422 5 1,361 5 Consumer and other 35 — 175 — Total $ 11,599 $ 78 $ 17,745 $ 68 The impaired loans on which these interest income amounts were recognized are primarily accruing troubled debt restructured loans. Loans are reported as troubled debt restructurings when we grant a concession(s) to a borrower experiencing financial difficulties that we would not not BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) Troubled Debt Restructurings At March 31, 2018 December 31, 2017, $7.2 $7.3 For a restructured loan to be on accrual status, the loan’s collateral coverage must generally be greater than or equal to 100% March 31, 2018 December 31, 2017, one $295 $33 As of March 31, 2018, $10.5 $10.9 December 31, 2017. March 31, 2018, 113 108 1.16% March 31, 2018, 1.24% December 31, 2017. During the three March 31, 2018 March 31, 2017, no There were no 12 months ended March 31, 2018 2017, three March 31, 2018 2017.Performing We define a performing loan as a loan where any installment of principal or interest is not 90 may 90 not Performing and nonperforming loans, segregated by loan portfolio, were as follows at March 31, 2018 December 31, 2017. (Amounts in thousands) March 31, 2018 Performing and Nonperforming Loans Performing Nonperforming Total Commercial $ 136,761 $ 1,109 $ 137,870 Commercial real estate: Real estate - construction and land development 14,723 — 14,723 Real estate - commercial non-owner occupied 405,192 — 405,192 Real estate - commercial owner occupied 193,286 — 193,286 Residential real estate: Real estate - residential - ITIN 37,586 2,839 40,425 Real estate - residential - 1-4 family mortgage 30,059 188 30,247 Real estate - residential - equity lines 30,475 45 30,520 Consumer and other 48,122 35 48,157 Total $ 896,204 $ 4,216 $ 900,420 (Amounts in thousands) December 31, 2017 Performing and Nonperforming Loans Performing Nonperforming Total Commercial $ 140,802 $ 1,603 $ 142,405 Commercial real estate: Real estate - construction and land development 15,902 — 15,902 Real estate - commercial non-owner occupied 377,668 — 377,668 Real estate - commercial owner occupied 191,423 600 192,023 Residential real estate: Real estate - residential - ITIN 38,279 2,909 41,188 Real estate - residential - 1-4 family mortgage 29,771 606 30,377 Real estate - residential - equity lines 30,302 45 30,347 Consumer and other 49,889 36 49,925 Total $ 874,036 $ 5,799 $ 879,835 Credit Quality Ratings Management assigns a credit quality rating (risk grade) to each loan. The foundation or primary factor in determining the appropriate credit quality rating is the degree of a debtor’s willingness and ability to perform as agreed. In conjunction with evaluating the performing versus nonperforming nature of our loan portfolio, management evaluates the following credit risk and other relevant factors in determining the appropriate credit quality indicator (rating) for each loan portfolio: Pass Grade: no may ● Strong Cash Flows – borrower’s cash flows must meet or exceed our minimum debt service coverage ratio. ● Collateral Margin – generally, the borrower must have pledged an acceptable collateral class with an adequate collateral margin. BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) ● Qualitative Factors – in addition to meeting our minimum cash flow and collateral requirements, a number of other qualitative factors are also factored into assigning a Pass Grade including the borrower’s level of leverage (debt to equity), prospects, history and experience in their industry, credit history, and any other relevant factors including a borrower’s character. Those borrowers who qualify for unsecured loans must fully demonstrate above average cash flows and strong secondary sources of repayment to mitigate the lack of pledged collateral. Watch Grade: may one not ● The primary source of repayment may ● The primary source of repayment is adequate, but the secondary source of repayment is insufficient ● In-depth financial analysis would compare to the lower quartile in two ● Volatile or deteriorating collateral ● Management decisions may ● Delinquencies in bank credits or other financial/trade creditors ● Frequent overdrafts ● Significant change in management/ownership Special Mention Grade: may not not not ● Inadequate or incomplete loan documentation or perfection of collateral, or any other deviation from prudent lending practices ● Credit is structured in a manner in which the timing of the repayment source does not ● Current economic or market conditions exist which may ● Adverse trends in the borrower's operations or continued deterioration in the borrower’s financial condition that has not ● The borrower is less than cooperative or unable to produce current and adequate financial information Substandard Grade: not not may may not The following represents, but is not not ● Sustained or substantial deteriorating financial trends, ● Unresolved management problems, ● Collateral is insufficient to repay debt; collateral is not ● Improper perfection of lien position, which is not ● Unanticipated and severe decline in market values, ● High reliance on secondary source of repayment, ● Legal proceedings, such as bankruptcy or a divorce, which has substantially decreased the borrower’s capacity to repay the debt, ● Fraud committed by the borrower, ● IRS liens that take precedence, ● Forfeiture statutes for assets involved in criminal activities, ● Protracted repayment terms outside of policy that are for longer than the same type of credit in our portfolio, ● Any other relevant quantitative or qualitative factor that negatively affects the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Doubtful Grade: one may may may not ● Proposed merger(s), BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) ● Acquisition or liquidation procedures, ● Capital injection, ● Perfecting liens on additional collateral, ● Refinancing plans. Generally, a Doubtful Grade does not six six The following table summarizes loans by internal risk grades and by loan class as of March 31, 2018 December 31, 2017. As of March 31, 2018 Special (Amounts in thousands) Pass Watch Mention Substandard Doubtful Total Commercial $ 108,907 $ 24,023 $ 2,627 $ 2,313 $ — $ 137,870 Commercial real estate: Real estate - construction and land development 13,583 — — 1,140 — 14,723 Real estate - commercial non-owner occupied 396,829 5,452 1,543 1,368 — 405,192 Real estate - commercial owner occupied 173,616 12,467 6,066 1,137 — 193,286 Residential real estate: Real estate - residential - ITIN 34,222 — — 6,203 — 40,425 Real estate - residential - 1-4 family mortgage 29,276 784 — 187 — 30,247 Real estate - residential - equity lines 28,699 1,500 — 321 — 30,520 Consumer and other 48,120 — 2 35 — 48,157 Total $ 833,252 $ 44,226 $ 10,238 $ 12,704 $ — $ 900,420 As of December 31, 2017 Special (Amounts in thousands) Pass Watch Mention Substandard Doubtful Total Commercial $ 117,087 $ 22,213 $ 40 $ 3,065 $ — $ 142,405 Commercial real estate: Real estate - construction and land development 14,762 — 1,140 — — 15,902 Real estate - commercial non-owner occupied 364,230 9,160 2,900 1,378 — 377,668 Real estate - commercial owner occupied 171,005 15,198 3,907 1,913 — 192,023 Residential real estate: Real estate - residential - ITIN 34,923 — — 6,265 — 41,188 Real estate - residential - 1-4 family mortgage 28,981 791 — 605 — 30,377 Real estate - residential - equity lines 28,457 1,501 63 326 — 30,347 Consumer and other 49,887 — 2 36 — 49,925 Total $ 809,332 $ 48,863 $ 8,052 $ 13,588 $ — $ 879,835 The recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure was $308 March 31, 2018. BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) Allowance for Loan and Lease Losses The following tables summarize the ALLL by portfolio for the three March 31, 2018 2017. For the Three Months Ended March 31, 2018 (Amounts in thousands) Commercial Residential ALLL by Loan Portfolio Commercial Real Estate Real Estate Consumer Unallocated Total Beginning balance $ 2,397 $ 6,514 $ 1,169 $ 1,435 $ 410 $ 11,925 Charge-offs — — (114 ) (276 ) — (390 ) Recoveries 453 — 246 61 — 760 Provision (552 ) 384 (152 ) 253 67 — Ending balance $ 2,298 $ 6,898 $ 1,149 $ 1,473 $ 477 $ 12,295 For the Three Months Ended March 31, 2017 (Amounts in thousands) Commercial Residential ALLL by Loan Portfolio Commercial Real Estate Real Estate Consumer Unallocated Total Beginning balance $ 2,849 $ 5,578 $ 1,716 $ 955 $ 446 $ 11,544 Charge-offs (51 ) — (169 ) (227 ) — (447 ) Recoveries 199 27 75 43 — 344 Provision (348 ) 358 (132 ) 303 19 200 Ending balance $ 2,649 $ 5,963 $ 1,490 $ 1,074 $ 465 $ 11,641 The following tables summarize the ALLL and the recorded investment in loans and leases as of March 31, 2018 December 31, 2017. As of March 31, 2018 Commercial Residential (Amounts in thousands) Commercial Real Estate Real Estate Consumer Unallocated Total ALLL: Individually evaluated for impairment $ 614 $ 121 $ 343 $ 11 $ — $ 1,089 Collectively evaluated for impairment 1,684 6,777 806 1,462 477 11,206 Total $ 2,298 $ 6,898 $ 1,149 $ 1,473 $ 477 $ 12,295 Gross loans: Individually evaluated for impairment $ 2,625 $ 800 $ 8,002 $ 35 $ — $ 11,462 Collectively evaluated for impairment 135,245 612,401 93,190 48,122 — 888,958 Total gross loans $ 137,870 $ 613,201 $ 101,192 $ 48,157 $ — $ 900,420 As of December 31, 2017 Commercial Residential (Amounts in thousands) Commercial Real Estate Real Estate Consumer Unallocated Total ALLL: Individually evaluated for impairment $ 690 $ 77 $ 391 $ 11 $ — $ 1,169 Collectively evaluated for impairment 1,707 6,437 778 1,424 410 10,756 Total $ 2,397 $ 6,514 $ 1,169 $ 1,435 $ 410 $ 11,925 Gross loans: Individually evaluated for impairment $ 3,154 $ 1,403 $ 8,554 $ 36 $ — $ 13,147 Collectively evaluated for impairment 139,251 584,190 93,358 49,889 — 866,688 Total gross loans $ 142,405 $ 585,593 $ 101,912 $ 49,925 $ — $ 879,835 The ALLL totaled $12.3 1.37% March 31, 2018 $11.9 1.36% December 31, 2017. March 31, 2018 December 31, 2017, $232.9 $227.7 Other Liabilities Consolidated Balance Sheets March 31, 2018 December 31, 2017 $695 The ALLL is based upon estimates of future loan and lease losses and is maintained at a level considered adequate to provide for probable losses inherent in the outstanding loan portfolio. Our ALLL methodology incorporates management’s current judgments, and reflects management’s estimate of future loan and lease losses and risks inherent in the loan portfolio in accordance with ASC Topic 450 Contingencies 310 Receivables. BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) The allowance is increased by provisions charged to expense and reduced by net charge-offs. In periodic evaluations of the adequacy of the allowance balance, management considers past loan and lease loss experience by type of credit, known and inherent risks in the portfolio, adverse situations that may Management monitors delinquent loans continuously and identifies problem loans to be evaluated individually for impairment testing. For loans that are determined impaired, a formal impairment measurement is performed at least quarterly on a loan-by-loan basis. Our method for assessing the appropriateness of the allowance includes specific allowances for identified problem loans, an allowance factor for categories of credits and allowances for changing environmental factors (e.g., portfolio trends, concentration of credit, growth, economic factors). Allowances for identified problem loans are based on specific analysis of individual credits. Loss estimation factors for loan categories are based on analysis of local economic factors applicable to each loan category. Allowances for changing environmental factors are management’s best estimate of the probable impact these changes have had on the loan portfolio as a whole. We believe that the ALLL was adequate as of March 31, 2018. no not may As of March 31, 2018, 80% may may may Impaired loans are individually evaluated for impairment. If the measurement of each impaired loans’ value is less than the recorded investment in the loan, we recognize this impairment and adjust the carrying value of the loan to fair value through the ALLL. For collateral dependent loans, this can be accomplished by charging off the impaired portion of the loan based on the underlying value of the collateral. For non-collateral dependent loans, we establish a specific component within the ALLL based on the present value of the future cash flows. If we determine the sources of repayment will not The unallocated portion of the ALLL provides for coverage of credit losses inherent in the loan portfolio but not March 31, 2018 December 31, 2017, 4% 3% While the ALLL composition is an indication of specific amounts or loan categories in which future charge-offs may may We have lending policies and procedures in place with the objective of optimizing loan income within an accepted risk tolerance level. We review and approve these policies and procedures annually. Monitoring and reporting systems supplement the review process with regular frequency as related to loan production, loan quality, concentrations of credit, potential problem loans, loan delinquencies, and nonperforming loans. The following is a brief summary, by loan type, of management’s evaluation of the general risk characteristics and underwriting standards: Commercial Loans may may Most commercial loans are generally secured by the assets being financed and other business assets such as accounts receivable or inventory. Management may may may Commercial Real Estate (“CRE”) Loans The properties securing the CRE portfolio are diverse in terms of type and primary source of repayment. This diversity helps reduce our exposure to adverse economic events that affect any single industry. We monitor and evaluate CRE loans based on occupancy status (investor versus owner occupied), collateral, geography, and risk grade criteria. BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) Generally, CRE loans are made to developers and builders that are secured by non-owner occupied properties require the borrower to have had an existing relationship with the Company and a proven record of success. Construction loans are underwritten utilizing feasibility studies, sensitivity analysis of absorption and lease rates, and financial analysis of the developers and property owners. Construction loans are generally based upon estimates of cost and value associated with the complete project (as-is value). These estimates may may Residential Real Estate Loans not We originate some single family residence construction loans. The loan amounts are no $1 12 may Consumer Loans – third not 80%, one We maintain an independent loan review program that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to the Board of Directors and Audit Committee. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as our policies and procedures. Management’s continuing evaluation of all known relevant quantitative and qualitative internal and external risk factors provides the foundation for the three 1 450, 450” 2 450 3 310, 310” three may not not no not may Our loan portfolio is evaluated by general loan class including commercial, commercial real estate (which includes construction and other real estate), residential real estate (which includes 1 4 450, General valuation allowances, as prescribed by ASC 450, BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) |
Note 5 - Qualified Affordable H
Note 5 - Qualified Affordable Housing Partnership Investments | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Qualified Affordable Housing Project Investments [Text Block] | NOTE 5. Our investments in Qualified Affordable Housing Partnerships that generate Low Income Housing Tax Credits (“LIHTC”) and deductible operating losses totaled $3.4 March 31, 2018. Other Assets $330 Other Liabilities Consolidated Balance Sheets four 18 None 3% 6% Consolidated Statements of Income The following table presents our original investment in LIHTC partnerships, the current recorded investment balance, and the unfunded liability balance of each investment at March 31, 2018 December 31, 2017. three March 31, 2018 December 31, 2017. At March 31, 2018 For the Three Months Ended March 31, 2018 Original Current Unfunded Tax Credits Amortization Net (Amounts in thousands) Investment Recorded Liability and of Income Tax Qualified Affordable Housing Partnerships Value Investment Obligation Benefits Investments Benefit Raymond James California Housing Opportunities Fund II $ 2,000 $ 1,138 $ 15 $ 50 $ 44 $ 6 WNC Institutional Tax Credit Fund 38, L.P. 1,000 563 — 32 26 6 Merritt Community Capital Corporation Fund XV, L.P. 2,500 1,420 315 56 56 — California Affordable Housing Fund 2,454 270 — 8 12 (4 ) Total $ 7,954 $ 3,391 $ 330 $ 146 $ 138 $ 8 At December 31, 2017 For the Three Months Ended March 31, 2017 Original Current Unfunded Tax Credits Amortization Net (Amounts in thousands) Investment Recorded Liability and of Income Tax Qualified Affordable Housing Partnerships Value Investment Obligation Benefits Investments Benefit Raymond James California Housing Opportunities Fund II $ 2,000 $ 1,182 $ 20 $ 56 $ 45 $ 11 WNC Institutional Tax Credit Fund 38, L.P. 1,000 589 — 35 26 9 Merritt Community Capital Corporation Fund XV, L.P. 2,500 1,476 341 68 56 12 California Affordable Housing Fund 2,454 282 — 44 44 — Total $ 7,954 $ 3,529 $ 361 $ 203 $ 171 $ 32 The following table presents our generated tax credits and tax benefits from investments in qualified affordable housing partnerships for the three March 31, 2018 2017. For the Three Months Ended March 31, 2018 March 31, 2017 (Amounts in thousands) Generated Tax Benefits From Generated Tax Benefits from Qualified Affordable Housing Partnerships Tax Credits Taxable Losses Tax Credits Taxable Losses Raymond James California Housing Opportunities Fund II $ 42 $ 8 $ 44 $ 12 WNC Institutional Tax Credit Fund 38, L.P. 28 4 28 7 Merritt Community Capital Corporation Fund XV, L.P. 48 8 54 14 California Affordable Housing Fund 1 7 32 12 Total $ 119 $ 27 $ 158 $ 45 The tax credits and benefits were partially offset by the amortization of the principal investment balances of $138 $171 three March 31, 2018 March 31, 2017 The following table reflects the anticipated net income tax benefit at March 31, 2018 (Amounts in thousands) Qualified Affordable Housing Partnerships: Raymond James WNC Institutional Merritt Community California Total Net Anticipated net income tax benefit less California Housing Tax Credit Capital Corporation Affordable Income Tax amortization of investments Opportunities Fund II Fund 38, L.P. Fund XV, L.P Housing Fund Benefit 2018 $ 17 $ 15 $ 2 $ (12 ) $ 22 2019 23 18 3 (14 ) 30 2020 22 17 4 (14 ) 29 2021 22 16 4 (14 ) 28 2022 and thereafter 41 42 9 (43 ) 49 Total $ 125 $ 108 $ 22 $ (97 ) $ 158 |
Note 6 - Term Debt
Note 6 - Term Debt | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 6. Term debt at March 31, 2018 December 31, 2017 (Amounts in thousands) March 31, 2018 December 31, 2017 Federal Home Loan Bank of San Francisco borrowings $ 30,000 $ — Senior debt 6,196 7,096 Unamortized debt issuance costs (6 ) (6 ) Subordinated debt 10,000 10,000 Unamortized debt issuance costs (121 ) (132 ) Net term debt $ 46,069 $ 16,958 Future contractual maturities of term debt at March 31, 2018 (Amounts in thousands) 2018 2019 2020 2021 2022 Thereafter Total Federal Home Loan Bank of San Francisco borrowings $ 30,000 $ — $ — $ — $ — $ — $ 30,000 Senior debt 750 1,000 4,446 — — — 6,196 Subordinated debt — — — — — 10,000 10,000 Total future maturities $ 30,750 $ 1,000 $ 4,446 $ — $ — $ 10,000 $ 46,196 Federal Home Loan Bank of San Francisco Borrowings We have an available line of credit with the Federal Home Loan Bank of San Francisco of $326.6 The Bank had outstanding secured lines of credit from the Federal Home Loan Bank of San Francisco at March 31, 2018 $30.0 no December 31, 2017. three March 31, 2018 December 31, 2017 $12.4 $302 three March 31, 2018 December 31, 2017 $30.0 $10.0 March 31, 2018 1.89%. As of March 31, 2018, $4.5 Other Assets Consolidated Balance Sheets 320 321. We have pledged $412.1 March 31, 2018, $27.0 Senior Debt In December 2015, $10.0 $83 January 1, 2016, December 10, 2020 $5.0 December 10, 2020. may three 400 December 2015, $15 Subordinated Debt In December 2015, $10.0 2025. 6.88% five three 526 December 2015, $210 five The Subordinated Debt is subordinate and junior in right of payment to the prior payment in full of all existing and future claims of creditors and depositors of the Holding Company and its subsidiaries, whether now outstanding or subsequently created. The Subordinated Debt ranks equally with all other unsecured subordinated debt, except any which by its terms is expressly stated to be subordinated to the Subordinated Debt. The Subordinated Debt ranks senior to all future junior subordinated debt obligations, preferred stock and common stock of the Holding Company. The Subordinated Debt is recorded as term debt on the Holding Company’s balance sheet; however, for regulatory purposes, it is treated as Tier 2 The Subordinated Debt will mature on December 10, 2025 may five no Other lines of credit Federal Funds We have entered into nonbinding federal funds line of credit agreements with three $35.0 March 31, 2018 1.89% 2.56%. may Federal Reserve Bank We have an available line of credit with the Federal Reserve Bank totaling $23.6 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 7. Lease Commitments We lease nine one The following table sets forth rent expense and rent income for the three March 31, 2018 2017 Three Months Ended March 31, (Amounts in thousands) 2018 2017 Rent income (1) $ — $ 22 Rent expense 231 183 Net rent expense $ 231 $ 161 ( 1 The following table sets forth, as of March 31, 2018, (Amounts in thousands) Amounts due in: 2018 $ 638 2019 866 2020 884 2021 899 2022 807 Thereafter 1,367 Total $ 5,461 Financial Instruments with Off-Balance Sheet Risk Our consolidated financial statements do not Consolidated Balance Sheets The following table presents a summary of our commitments and contingent liabilities at March 31, 2018 December 31, 2017. (Amounts in thousands) March 31, 2018 December 31, 2017 Commitments to extend credit $ 222,851 $ 217,714 Standby letters of credit 6,692 6,692 Affordable housing grants 3,338 3,338 Total commitments and contingent liabilities $ 232,881 $ 227,744 We were not three March 31, 2018, December 31, 2017. March 31, 2018 $6.3 one $375 Affordable Housing Grants In fulfilling our CRA responsibilities, we are a sponsor for various nonprofit organizations that receive cash grants from the Federal Home Loan Bank of San Francisco. Those grants require the nonprofit organization to comply with stipulated conditions of the grant over specified periods of time which typically vary from 10 15 not Reserve For Unfunded Commitments The reserve for unfunded commitments, which is included in Other Liabilities Consolidated Balance Sheets $695 March 31, 2018 December 31, 2017. Consolidated Statements of Income. Death Benefit Agreement The Company has entered into agreements with certain employees to pay a cash benefit to designated beneficiaries following the death of the employee. The payment will be made only if, at the time of death, the deceased employee was employed by the Bank and the Bank owned a life insurance policy on the employee’s life. Depending on specific facts and circumstances, the payment amount can vary up to a maximum of $225,000 may Legal Proceedings We are involved in various pending and threatened legal actions arising in the ordinary course of business. We maintain reserves for losses from legal actions, which are both probable and estimable. In our opinion, the disposition of claims currently pending will not Concentrations of Credit Risk We grant real estate construction, commercial, and installment loans to customers throughout northern California. In our judgment, a concentration exists in real estate related loans, which represented approximately 80% 77% March 31, 2018 December 31, 2017. Commercial real estate concentrations are managed to assure wide geographic and business diversity. Although management believes such concentrations have no We recognize the credit risks inherent in dealing with other depository institutions. Accordingly, to prevent excessive exposure to other depository institutions in aggregate or to any single correspondent, we have established general standards for selecting correspondent banks as well as internal limits for allowable exposure to other depository institutions in aggregate or to any single correspondent. In addition, we have an investment policy that sets forth limitations that apply to all investments with respect to credit rating and concentrations with an issuer. |
Note 8 - Accumulated Other Comp
Note 8 - Accumulated Other Comprehensive (Loss) | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Accumulated Other Comprehensive Income Loss [Text Block] | NOTE 8. The following table presents activity in accumulated other comprehensive loss from unrealized losses on securities for the three March 31, 2018. Accumulated Other Comprehensive (Amounts in thousands) Loss Accumulated other comprehensive loss as of December 31, 2017 $ (266 ) Comprehensive loss three months ended March 31, 2018 (2,426 ) Reclassification of accumulated other comprehensive income due to tax rate change (52 ) Accumulated other comprehensive loss as of March 31, 2018 $ (2,744 ) The following table presents activity in accumulated other comprehensive (loss) from unrealized gains (losses) on securities for the three March 31, 2017. Accumulated Other Comprehensive (Amounts in thousands) (Loss) Income Accumulated other comprehensive (loss) as of December 31, 2016 $ (659 ) Comprehensive income three months ended March 31, 2017 256 Accumulated other comprehensive (loss) as of March 31, 2017 $ (403 ) Accumulated other comprehensive income is reported net of tax. Detailed information on the tax effects of the individual components of comprehensive income are presented in the Consolidated Statements of Comprehensive Income BANK OF COMMERCE HOLDINGS & SUBSIDIARIES Notes to Consolidated Financial Statements (Unaudited) |
Note 9 - Fair Values
Note 9 - Fair Values | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 9. The following table presents estimated fair values of our financial instruments as of March 31, 2018 December 31, 2017, not Consolidated Balance Sheets 820, Fair Value Measurement not 825, Financial Instruments not (Amounts in thousands) Carrying Fair Value Measurements Using March 31, 2018 Amounts Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 33,623 $ 33,623 $ — $ — Securities available-for-sale $ 255,917 $ — $ 255,917 $ — Net loans $ 889,838 $ — $ — $ 889,945 Federal Home Loan Bank of San Francisco stock $ 4,536 $ 4,536 $ — $ — Financial liabilities Deposits $ 1,048,751 $ — $ 1,046,581 $ — Term debt $ 46,069 $ — $ 46,115 $ — Junior subordinated debenture $ 10,310 $ — $ 10,405 $ — (Amounts in thousands) Carrying Fair Value Measurements Using December 31, 2017 Amounts Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 66,970 $ 66,970 $ — $ — Securities available-for-sale $ 267,954 $ — $ 267,954 $ — Net loans $ 869,620 $ — $ — $ 873,660 Federal Home Loan Bank of San Francisco stock $ 4,536 $ 4,536 $ — $ — Financial liabilities Deposits $ 1,102,732 $ — $ 1,101,523 $ — Term debt $ 16,958 $ — $ 16,918 $ — Junior subordinated debenture $ 10,310 $ — $ 10,206 $ — Fair Value Hierarchy Level 1 Level 2 1 2 Level 3 not In certain cases, the inputs used to measure fair value may We maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The following table presents information about our assets and liabilities measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques we utilized to determine such fair value, as of March 31, 2018 December 31, 2017. (Amounts in thousands) Fair Value at March 31, 2018 Recurring Basis Total Level 1 Level 2 Level 3 Available-for-sale securities U.S. government and agencies $ 41,179 $ — $ 41,179 $ — Obligations of states and political subdivisions 59,408 — 59,408 — Residential mortgage-backed securities and collateralized mortgage obligations 125,567 — 125,567 — Corporate securities 3,958 — 3,958 — Commercial mortgage-backed securities 25,520 — 25,520 — Other asset-backed securities 285 — 285 — Total assets measured at fair value $ 255,917 $ — $ 255,917 $ — (Amounts in thousands) Fair Value at December 31, 2017 Recurring Basis Total Level 1 Level 2 Level 3 Available-for-sale securities U.S. government and agencies $ 40,369 $ — $ 40,369 $ — Obligations of states and political subdivisions 78,844 $ — 78,844 — Residential mortgage-backed securities and collateralized mortgage obligations 114,592 — 114,592 — Corporate securities 4,992 — 4,992 — Commercial mortgage-backed securities 26,641 — 26,641 — Other investment securities (1) 2,516 — 2,516 — Total assets measured at fair value $ 267,954 $ — $ 267,954 $ — ( 1 Recurring Items Debt Securities – may 2 Transfers Between Fair Value Hierarchy Levels Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstance that caused the transfer. There were no three March 31, 2018 December 31, 2017. Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis We may three March 31, 2018 December 31, 2017 The amounts disclosed below present the fair values at the time the nonrecurring fair value measurements were made, and not (Amounts in thousands) Fair Value at March 31, 2018 Nonrecurring basis Total Level 1 Level 2 Level 3 Other real estate owned $ 60 $ — $ — $ 60 Total assets measured at fair value $ 60 $ — $ — $ 60 (Amounts in thousands) Fair Value at December 31, 2017 Nonrecurring basis Total Level 1 Level 2 Level 3 Collateral dependent impaired loans $ 60 $ — $ — $ 60 Other real estate owned 35 — — 35 Total assets measured at fair value $ 95 $ — $ — $ 95 The following table presents the losses resulting from nonrecurring fair value adjustments for the three March 31, 2018 2017 March 31, 2018 2017. (Amounts in thousands) Three Months Ended March 31, Fair value adjustments 2018 2017 Other real estate owned $ 113 $ 122 Total $ 113 $ 122 During the three March 31, 2018, three $173 $60 $113 The loan amounts above represent impaired, collateral dependent loans that have been adjusted to fair value during the respective reporting period. When we identify a collateral dependent loan as impaired, we measure the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals. If we determine that the value of the impaired loan is less than the recorded investment in the loan, we recognize this impairment and adjust the carrying value of the loan to fair value through the ALLL. The OREO amount above represents impaired real estate that has been adjusted to fair value during the respective reporting period. The loss represents impairments on OREO for fair value adjustments based on the fair value of the real estate. The determination of fair value is based on recent appraisals of the foreclosed properties, which take into account recent sales prices adjusted for unobservable inputs, such as opinions provided by local real estate brokers and other real estate experts. OREO fair values are adjusted for estimated selling costs that are based off the adjusted fair value are between 34% 63%. 3. Limitations not one no Fair value estimates are based on current on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not not |
Note 10 - Purchase of Financial
Note 10 - Purchase of Financial Assets | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 10. We have an ongoing agreement to purchase a maximum par value of $50.0 third $50.0 March 31, 2018, $122.3 $77.3 $45.0 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Holding Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. As of March 31, 2018 December 31, 2017, one 2005 not 810, Consolidation 810” Consolidated Balance Sheets |
Revenue from Contract with Customer [Policy Text Block] | Revenue from Contracts with Customers We record revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers 606” 606, not Our primary sources of revenue are derived from interest and dividends earned on loans, investment securities, and other financial instruments that are not 606. not 606 |
New Accounting Pronouncements, Policy [Policy Text Block] | Application of new accounting guidance ASU No. 2014 09 In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 2014 09 January 1, 2017. August 2015, 2015 14, Revenue from Contracts with Customers - Deferral of the Effective Date one 2014 09. 2016 08, Principal versus Agent Considerations 2016 10, Identifying Performance Obligations and Licensing 2016 12, Narrow-Scope Improvements and Practical Expedients 2016 20, Technical Corrections and Improvements to Topic 606 2014 09, January 1, 2018, no ASU No. 2016 01 Description - In January 2016, No. 2016 01, Financial Instruments – Overall (Subtopic 825 10 January 1, 2018, not 9 Fair Values ASU No. 2018 02 In February 2018, 2018 02, Income Statement – Reporting Comprehensive Income (Topic 220 not December 15, 2018, 2018 02 January 1, 2018 $52 |
Note 2 - Common Stock Outstan20
Note 2 - Common Stock Outstanding and Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended (Amounts in thousands, except per share information) March 31, Earnings Per Share 2018 2017 Numerators: Net income $ 3,241 $ 2,252 Denominators: Weighted average number of common shares outstanding - basic (1) 16,225 13,416 Effect of potentially dilutive common shares (2) 85 105 Weighted average number of common shares outstanding - diluted 16,310 13,521 Earnings per common share: Basic $ 0.20 $ 0.17 Diluted $ 0.20 $ 0.17 Anti-dilutive options not included in diluted earnings per share calculation — — Anti-dilutive restricted shares not included in diluted earnings per share calculation 41,915 33,068 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | As of March 31, 2018 Gross Gross Amortized Unrealized Unrealized Estimated (Amounts in thousands) Cost Gain Loss Fair Value Available-for-sale securities: U.S. government & agencies $ 41,261 $ 270 $ (352 ) $ 41,179 Obligations of state and political subdivisions 58,832 1,387 (811 ) 59,408 Residential mortgage-backed securities and collateralized mortgage obligations 129,111 18 (3,562 ) 125,567 Corporate securities 4,065 7 (114 ) 3,958 Commercial mortgage-backed securities 26,261 12 (753 ) 25,520 Other asset-backed securities 282 3 — 285 Total $ 259,812 $ 1,697 $ (5,592 ) $ 255,917 As of December 31, 2017 Gross Gross Amortized Unrealized Unrealized Estimated (Amounts in thousands) Cost Gain Loss Fair Value Available-for-sale securities: U.S. government & agencies $ 40,319 $ 196 $ (146 ) $ 40,369 Obligations of state and political subdivisions 77,412 1,910 (478 ) 78,844 Residential mortgage-backed securities and collateralized mortgage obligations 116,061 69 (1,538 ) 114,592 Corporate securities 5,079 18 (105 ) 4,992 Commercial mortgage-backed securities 26,995 24 (378 ) 26,641 Other asset-backed securities 2,540 4 (28 ) 2,516 Total $ 268,406 $ 2,221 $ (2,673 ) $ 267,954 |
Amortized Cost and Estimated Fair Value Available for Sale Securities [Table Text Block] | Available-For-Sale (Amounts in thousands) Amortized Cost Fair Value Amounts maturing in: One year or less $ 110 $ 112 After one year through five years 84,710 83,229 After five years through ten years 88,333 86,912 After ten years 86,659 85,664 Total $ 259,812 $ 255,917 |
Schedule of Realized Gain (Loss) [Table Text Block] | Three Months Ended March 31, (Amounts in thousands) 2018 2017 Proceeds from sales of securities $ 19,398 $ 13,927 Gross realized gains on sales of securities: Obligations of state and political subdivisions $ 152 $ 51 Residential mortgage-backed securities and collateralized mortgage obligations — 17 Corporate securities — 1 Total gross realized gains on sales of securities 152 69 Gross realized losses on sales of securities: Obligations of state and political subdivisions (71 ) — Corporate securities — (3 ) Other asset-backed securities (45 ) — Total gross realized losses on sales of securities (116 ) (3 ) Gain on investment securities, net $ 36 $ 66 |
Schedule of Unrealized Loss on Investments [Table Text Block] | As of March 31, 2018 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Amounts in thousands) Value Losses Value Losses Value Losses Available-for-sale securities: U.S. government & agencies $ 15,195 $ (286 ) $ 2,003 $ (66 ) $ 17,198 $ (352 ) Obligations of states and political subdivisions 17,412 (534 ) 5,809 (277 ) 23,221 (811 ) Residential mortgage-backed securities and collateralized mortgage obligations 88,513 (2,288 ) 31,013 (1,274 ) 119,526 (3,562 ) Corporate securities — — 2,920 (114 ) 2,920 (114 ) Commercial mortgage-backed securities 13,965 (409 ) 9,684 (344 ) 23,649 (753 ) Total temporarily impaired securities $ 135,085 $ (3,517 ) $ 51,429 $ (2,075 ) $ 186,514 $ (5,592 ) As of December 31, 2017 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Amounts in thousands) Value Loss Value Loss Value Loss Available-for-sale securities: U.S. government & agencies $ 18,140 $ (102 ) $ 2,131 $ (44 ) $ 20,271 $ (146 ) Obligations of states and political subdivisions 15,030 (255 ) 8,368 (223 ) 23,398 (478 ) Residential mortgage-backed securities and collateralized mortgage obligations 75,323 (827 ) 31,036 (711 ) 106,359 (1,538 ) Corporate securities — — 2,934 (105 ) 2,934 (105 ) Commercial mortgage-backed securities 11,162 (151 ) 10,026 (227 ) 21,188 (378 ) Other asset-backed securities 2,167 (28 ) — — 2,167 (28 ) Total temporarily impaired securities $ 121,822 $ (1,363 ) $ 54,495 $ (1,310 ) $ 176,317 $ (2,673 ) |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Outstanding Loan Balances [Table Text Block] | (Amounts in thousands) March 31, December 31, Loan Portfolio 2018 2017 Commercial $ 137,870 $ 142,405 Commercial real estate: Real estate - construction and land development 14,723 15,902 Real estate - commercial non-owner occupied 405,192 377,668 Real estate - commercial owner occupied 193,286 192,023 Residential real estate: Real estate - residential - Individual Tax Identification Number (“ITIN”) 40,425 41,188 Real estate - residential - 1-4 family mortgage 30,247 30,377 Real estate - residential - equity lines 30,520 30,347 Consumer and other 48,157 49,925 Gross loans 900,420 879,835 Deferred fees and costs 1,713 1,710 Loans, net of deferred fees and costs 902,133 881,545 Allowance for loan and lease losses (12,295 ) (11,925 ) Net loans $ 889,838 $ 869,620 |
Past Due Financing Receivables [Table Text Block] | Greater Recorded (Amounts in thousands) 30-59 60-89 Than 90 Investment > Past Due Loans at Days Past Days Past Days Past Total Past 90 Days and March 31, 2018 Due Due Due Due Current Total Accruing Commercial $ 133 $ — $ — $ 133 $ 137,737 $ 137,870 $ — Commercial real estate: Real estate - construction and land development — — — — 14,723 14,723 — Real estate - commercial non-owner occupied — — — — 405,192 405,192 — Real estate - commercial owner occupied — — — — 193,286 193,286 — Residential real estate: Real estate - residential - ITIN 670 70 428 1,168 39,257 40,425 — Real estate - residential - 1-4 family mortgage — — — — 30,247 30,247 — Real estate - residential - equity lines 140 7 — 147 30,373 30,520 — Consumer and other 225 35 — 260 47,897 48,157 — Total $ 1,168 $ 112 $ 428 $ 1,708 $ 898,712 $ 900,420 $ — Greater Recorded (Amounts in thousands) 30-59 60-89 Than 90 Investment > Past Due Loans at Days Past Days Past Days Past Total Past 90 Days and December 31, 2017 Due Due Due Due Current Total Accruing Commercial $ — $ — $ — $ — $ 142,405 $ 142,405 $ — Commercial real estate: Real estate - construction and land development — — — — 15,902 15,902 — Real estate - commercial non-owner occupied — — — — 377,668 377,668 — Real estate - commercial owner occupied 142 — — 142 191,881 192,023 — Residential real estate: Real estate - residential - ITIN 555 122 462 1,139 40,049 41,188 — Real estate - residential - 1-4 family mortgage 290 173 — 463 29,914 30,377 — Real estate - residential - equity lines 141 — — 141 30,206 30,347 — Consumer and other 281 123 — 404 49,521 49,925 — Total $ 1,409 $ 418 $ 462 $ 2,289 $ 877,546 $ 879,835 $ — |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | (Amounts in thousands) March 31, December 31, Nonaccrual Loans 2018 2017 Commercial $ 1,109 $ 1,603 Commercial real estate: Real estate - commercial owner occupied — 600 Residential real estate: Real estate - residential - ITIN 2,839 2,909 Real estate - residential - 1-4 family mortgage 188 606 Real estate - residential - equity lines 45 45 Consumer and other 35 36 Total $ 4,216 $ 5,799 |
Impaired Financing Receivables [Table Text Block] | As of March 31, 2018 Unpaid (Amounts in thousands) Recorded Principal Related Impaired Loans Investment Balance Allowance With no related allowance recorded: Commercial $ 83 $ 97 $ — Residential real estate: Real estate - residential - ITIN 6,047 7,702 — Real estate - residential - 1-4 family mortgage 188 224 — Real estate - residential - equity lines 45 48 — Total with no related allowance recorded $ 6,363 $ 8,071 $ — With an allowance recorded: Commercial $ 2,542 $ 2,614 $ 614 Commercial real estate: Real estate - commercial non-owner occupied 800 800 121 Residential real estate: Real estate - residential - ITIN 1,346 1,382 155 Real estate - residential - equity lines 376 376 188 Consumer and other 35 35 11 Total with an allowance recorded $ 5,099 $ 5,207 $ 1,089 By loan class: Commercial $ 2,625 $ 2,711 $ 614 Commercial real estate 800 800 121 Residential real estate 8,002 9,732 343 Consumer and other 35 35 11 Total impaired loans $ 11,462 $ 13,278 $ 1,089 As of December 31, 2017 (Amounts in thousands) Recorded Principal Related Impaired Loans Investment Balance Allowance With no related allowance recorded: Commercial $ 672 $ 1,205 $ — Commercial real estate: Real estate - commercial owner occupied 600 665 — Residential real estate: Real estate - residential - ITIN 5,895 7,516 — Real estate - residential - 1-4 family mortgage 414 897 — Real estate - residential - equity lines 45 49 — Consumer and other — — — Total with no related allowance recorded $ 7,626 $ 10,332 $ — With an allowance recorded: Commercial $ 2,482 $ 2,540 $ 690 Commercial real estate: Real estate - commercial non-owner occupied 803 803 77 Residential real estate: Real estate - residential - ITIN 1,628 1,678 199 Real estate - residential - 1-4 family mortgage 192 226 2 Real estate - residential - equity lines 380 380 190 Consumer and other 36 36 11 Total with an allowance recorded $ 5,521 $ 5,663 $ 1,169 By loan class: Commercial $ 3,154 $ 3,745 $ 690 Commercial real estate 1,403 1,468 77 Residential real estate 8,554 10,746 391 Consumer and other 36 36 11 Total impaired loans $ 13,147 $ 15,995 $ 1,169 |
Average Recorded Investment and Interest Income Recognized on Impaired Loans by Loan Class [Table Text Block] | Three Months Ended Three Months Ended March 31, 2018 March 31, 2017 Average Interest Average Interest (Amounts in thousands) Recorded Income Recorded Income Average Recorded Investment and Interest Income Investment Recognized Investment Recognized Commercial $ 2,589 $ 21 $ 3,396 $ 10 Commercial real estate: Real estate - commercial non-owner occupied 802 11 2,004 11 Real estate - commercial owner occupied — — 809 2 Residential real estate: Real estate - residential - ITIN 7,425 41 8,272 40 Real estate - residential - 1-4 family mortgage 326 — 1,728 — Real estate - residential - equity lines 422 5 1,361 5 Consumer and other 35 — 175 — Total $ 11,599 $ 78 $ 17,745 $ 68 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (Amounts in thousands) March 31, 2018 Performing and Nonperforming Loans Performing Nonperforming Total Commercial $ 136,761 $ 1,109 $ 137,870 Commercial real estate: Real estate - construction and land development 14,723 — 14,723 Real estate - commercial non-owner occupied 405,192 — 405,192 Real estate - commercial owner occupied 193,286 — 193,286 Residential real estate: Real estate - residential - ITIN 37,586 2,839 40,425 Real estate - residential - 1-4 family mortgage 30,059 188 30,247 Real estate - residential - equity lines 30,475 45 30,520 Consumer and other 48,122 35 48,157 Total $ 896,204 $ 4,216 $ 900,420 (Amounts in thousands) December 31, 2017 Performing and Nonperforming Loans Performing Nonperforming Total Commercial $ 140,802 $ 1,603 $ 142,405 Commercial real estate: Real estate - construction and land development 15,902 — 15,902 Real estate - commercial non-owner occupied 377,668 — 377,668 Real estate - commercial owner occupied 191,423 600 192,023 Residential real estate: Real estate - residential - ITIN 38,279 2,909 41,188 Real estate - residential - 1-4 family mortgage 29,771 606 30,377 Real estate - residential - equity lines 30,302 45 30,347 Consumer and other 49,889 36 49,925 Total $ 874,036 $ 5,799 $ 879,835 |
Financing Receivable Credit Quality Indicator [Table Text Block] | As of March 31, 2018 Special (Amounts in thousands) Pass Watch Mention Substandard Doubtful Total Commercial $ 108,907 $ 24,023 $ 2,627 $ 2,313 $ — $ 137,870 Commercial real estate: Real estate - construction and land development 13,583 — — 1,140 — 14,723 Real estate - commercial non-owner occupied 396,829 5,452 1,543 1,368 — 405,192 Real estate - commercial owner occupied 173,616 12,467 6,066 1,137 — 193,286 Residential real estate: Real estate - residential - ITIN 34,222 — — 6,203 — 40,425 Real estate - residential - 1-4 family mortgage 29,276 784 — 187 — 30,247 Real estate - residential - equity lines 28,699 1,500 — 321 — 30,520 Consumer and other 48,120 — 2 35 — 48,157 Total $ 833,252 $ 44,226 $ 10,238 $ 12,704 $ — $ 900,420 As of December 31, 2017 Special (Amounts in thousands) Pass Watch Mention Substandard Doubtful Total Commercial $ 117,087 $ 22,213 $ 40 $ 3,065 $ — $ 142,405 Commercial real estate: Real estate - construction and land development 14,762 — 1,140 — — 15,902 Real estate - commercial non-owner occupied 364,230 9,160 2,900 1,378 — 377,668 Real estate - commercial owner occupied 171,005 15,198 3,907 1,913 — 192,023 Residential real estate: Real estate - residential - ITIN 34,923 — — 6,265 — 41,188 Real estate - residential - 1-4 family mortgage 28,981 791 — 605 — 30,377 Real estate - residential - equity lines 28,457 1,501 63 326 — 30,347 Consumer and other 49,887 — 2 36 — 49,925 Total $ 809,332 $ 48,863 $ 8,052 $ 13,588 $ — $ 879,835 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | For the Three Months Ended March 31, 2018 (Amounts in thousands) Commercial Residential ALLL by Loan Portfolio Commercial Real Estate Real Estate Consumer Unallocated Total Beginning balance $ 2,397 $ 6,514 $ 1,169 $ 1,435 $ 410 $ 11,925 Charge-offs — — (114 ) (276 ) — (390 ) Recoveries 453 — 246 61 — 760 Provision (552 ) 384 (152 ) 253 67 — Ending balance $ 2,298 $ 6,898 $ 1,149 $ 1,473 $ 477 $ 12,295 For the Three Months Ended March 31, 2017 (Amounts in thousands) Commercial Residential ALLL by Loan Portfolio Commercial Real Estate Real Estate Consumer Unallocated Total Beginning balance $ 2,849 $ 5,578 $ 1,716 $ 955 $ 446 $ 11,544 Charge-offs (51 ) — (169 ) (227 ) — (447 ) Recoveries 199 27 75 43 — 344 Provision (348 ) 358 (132 ) 303 19 200 Ending balance $ 2,649 $ 5,963 $ 1,490 $ 1,074 $ 465 $ 11,641 As of March 31, 2018 Commercial Residential (Amounts in thousands) Commercial Real Estate Real Estate Consumer Unallocated Total ALLL: Individually evaluated for impairment $ 614 $ 121 $ 343 $ 11 $ — $ 1,089 Collectively evaluated for impairment 1,684 6,777 806 1,462 477 11,206 Total $ 2,298 $ 6,898 $ 1,149 $ 1,473 $ 477 $ 12,295 Gross loans: Individually evaluated for impairment $ 2,625 $ 800 $ 8,002 $ 35 $ — $ 11,462 Collectively evaluated for impairment 135,245 612,401 93,190 48,122 — 888,958 Total gross loans $ 137,870 $ 613,201 $ 101,192 $ 48,157 $ — $ 900,420 As of December 31, 2017 Commercial Residential (Amounts in thousands) Commercial Real Estate Real Estate Consumer Unallocated Total ALLL: Individually evaluated for impairment $ 690 $ 77 $ 391 $ 11 $ — $ 1,169 Collectively evaluated for impairment 1,707 6,437 778 1,424 410 10,756 Total $ 2,397 $ 6,514 $ 1,169 $ 1,435 $ 410 $ 11,925 Gross loans: Individually evaluated for impairment $ 3,154 $ 1,403 $ 8,554 $ 36 $ — $ 13,147 Collectively evaluated for impairment 139,251 584,190 93,358 49,889 — 866,688 Total gross loans $ 142,405 $ 585,593 $ 101,912 $ 49,925 $ — $ 879,835 |
Note 5 - Qualified Affordable23
Note 5 - Qualified Affordable Housing Partnership Investments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Proportional Amortization Method Investment Qualified Affordable Housing Project [Table Text Block] | At March 31, 2018 For the Three Months Ended March 31, 2018 Original Current Unfunded Tax Credits Amortization Net (Amounts in thousands) Investment Recorded Liability and of Income Tax Qualified Affordable Housing Partnerships Value Investment Obligation Benefits Investments Benefit Raymond James California Housing Opportunities Fund II $ 2,000 $ 1,138 $ 15 $ 50 $ 44 $ 6 WNC Institutional Tax Credit Fund 38, L.P. 1,000 563 — 32 26 6 Merritt Community Capital Corporation Fund XV, L.P. 2,500 1,420 315 56 56 — California Affordable Housing Fund 2,454 270 — 8 12 (4 ) Total $ 7,954 $ 3,391 $ 330 $ 146 $ 138 $ 8 At December 31, 2017 For the Three Months Ended March 31, 2017 Original Current Unfunded Tax Credits Amortization Net (Amounts in thousands) Investment Recorded Liability and of Income Tax Qualified Affordable Housing Partnerships Value Investment Obligation Benefits Investments Benefit Raymond James California Housing Opportunities Fund II $ 2,000 $ 1,182 $ 20 $ 56 $ 45 $ 11 WNC Institutional Tax Credit Fund 38, L.P. 1,000 589 — 35 26 9 Merritt Community Capital Corporation Fund XV, L.P. 2,500 1,476 341 68 56 12 California Affordable Housing Fund 2,454 282 — 44 44 — Total $ 7,954 $ 3,529 $ 361 $ 203 $ 171 $ 32 |
Qualified Affordable Housing Project Investments Tax Credits and Benefits [Table Text Block] | For the Three Months Ended March 31, 2018 March 31, 2017 (Amounts in thousands) Generated Tax Benefits From Generated Tax Benefits from Qualified Affordable Housing Partnerships Tax Credits Taxable Losses Tax Credits Taxable Losses Raymond James California Housing Opportunities Fund II $ 42 $ 8 $ 44 $ 12 WNC Institutional Tax Credit Fund 38, L.P. 28 4 28 7 Merritt Community Capital Corporation Fund XV, L.P. 48 8 54 14 California Affordable Housing Fund 1 7 32 12 Total $ 119 $ 27 $ 158 $ 45 |
Qualified Affordable Housing Projects Future Income Tax Benefit [Table Text Block] | (Amounts in thousands) Qualified Affordable Housing Partnerships: Raymond James WNC Institutional Merritt Community California Total Net Anticipated net income tax benefit less California Housing Tax Credit Capital Corporation Affordable Income Tax amortization of investments Opportunities Fund II Fund 38, L.P. Fund XV, L.P Housing Fund Benefit 2018 $ 17 $ 15 $ 2 $ (12 ) $ 22 2019 23 18 3 (14 ) 30 2020 22 17 4 (14 ) 29 2021 22 16 4 (14 ) 28 2022 and thereafter 41 42 9 (43 ) 49 Total $ 125 $ 108 $ 22 $ (97 ) $ 158 |
Note 6 - Term Debt (Tables)
Note 6 - Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | (Amounts in thousands) March 31, 2018 December 31, 2017 Federal Home Loan Bank of San Francisco borrowings $ 30,000 $ — Senior debt 6,196 7,096 Unamortized debt issuance costs (6 ) (6 ) Subordinated debt 10,000 10,000 Unamortized debt issuance costs (121 ) (132 ) Net term debt $ 46,069 $ 16,958 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (Amounts in thousands) 2018 2019 2020 2021 2022 Thereafter Total Federal Home Loan Bank of San Francisco borrowings $ 30,000 $ — $ — $ — $ — $ — $ 30,000 Senior debt 750 1,000 4,446 — — — 6,196 Subordinated debt — — — — — 10,000 10,000 Total future maturities $ 30,750 $ 1,000 $ 4,446 $ — $ — $ 10,000 $ 46,196 |
Note 7 - Commitments and Cont25
Note 7 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Lessee, Operating Lease, Disclosure [Table Text Block] | Three Months Ended March 31, (Amounts in thousands) 2018 2017 Rent income (1) $ — $ 22 Rent expense 231 183 Net rent expense $ 231 $ 161 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (Amounts in thousands) Amounts due in: 2018 $ 638 2019 866 2020 884 2021 899 2022 807 Thereafter 1,367 Total $ 5,461 |
Commitments and Contingent Liabilities [Table Text Block] | (Amounts in thousands) March 31, 2018 December 31, 2017 Commitments to extend credit $ 222,851 $ 217,714 Standby letters of credit 6,692 6,692 Affordable housing grants 3,338 3,338 Total commitments and contingent liabilities $ 232,881 $ 227,744 |
Note 8 - Accumulated Other Co26
Note 8 - Accumulated Other Comprehensive (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated Other Comprehensive (Amounts in thousands) Loss Accumulated other comprehensive loss as of December 31, 2017 $ (266 ) Comprehensive loss three months ended March 31, 2018 (2,426 ) Reclassification of accumulated other comprehensive income due to tax rate change (52 ) Accumulated other comprehensive loss as of March 31, 2018 $ (2,744 ) Accumulated Other Comprehensive (Amounts in thousands) (Loss) Income Accumulated other comprehensive (loss) as of December 31, 2016 $ (659 ) Comprehensive income three months ended March 31, 2017 256 Accumulated other comprehensive (loss) as of March 31, 2017 $ (403 ) |
Note 9 - Fair Values (Tables)
Note 9 - Fair Values (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (Amounts in thousands) Carrying Fair Value Measurements Using March 31, 2018 Amounts Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 33,623 $ 33,623 $ — $ — Securities available-for-sale $ 255,917 $ — $ 255,917 $ — Net loans $ 889,838 $ — $ — $ 889,945 Federal Home Loan Bank of San Francisco stock $ 4,536 $ 4,536 $ — $ — Financial liabilities Deposits $ 1,048,751 $ — $ 1,046,581 $ — Term debt $ 46,069 $ — $ 46,115 $ — Junior subordinated debenture $ 10,310 $ — $ 10,405 $ — (Amounts in thousands) Carrying Fair Value Measurements Using December 31, 2017 Amounts Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 66,970 $ 66,970 $ — $ — Securities available-for-sale $ 267,954 $ — $ 267,954 $ — Net loans $ 869,620 $ — $ — $ 873,660 Federal Home Loan Bank of San Francisco stock $ 4,536 $ 4,536 $ — $ — Financial liabilities Deposits $ 1,102,732 $ — $ 1,101,523 $ — Term debt $ 16,958 $ — $ 16,918 $ — Junior subordinated debenture $ 10,310 $ — $ 10,206 $ — |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (Amounts in thousands) Fair Value at March 31, 2018 Recurring Basis Total Level 1 Level 2 Level 3 Available-for-sale securities U.S. government and agencies $ 41,179 $ — $ 41,179 $ — Obligations of states and political subdivisions 59,408 — 59,408 — Residential mortgage-backed securities and collateralized mortgage obligations 125,567 — 125,567 — Corporate securities 3,958 — 3,958 — Commercial mortgage-backed securities 25,520 — 25,520 — Other asset-backed securities 285 — 285 — Total assets measured at fair value $ 255,917 $ — $ 255,917 $ — (Amounts in thousands) Fair Value at December 31, 2017 Recurring Basis Total Level 1 Level 2 Level 3 Available-for-sale securities U.S. government and agencies $ 40,369 $ — $ 40,369 $ — Obligations of states and political subdivisions 78,844 $ — 78,844 — Residential mortgage-backed securities and collateralized mortgage obligations 114,592 — 114,592 — Corporate securities 4,992 — 4,992 — Commercial mortgage-backed securities 26,641 — 26,641 — Other investment securities (1) 2,516 — 2,516 — Total assets measured at fair value $ 267,954 $ — $ 267,954 $ — |
Fair Value Measurements, Nonrecurring [Table Text Block] | (Amounts in thousands) Fair Value at March 31, 2018 Nonrecurring basis Total Level 1 Level 2 Level 3 Other real estate owned $ 60 $ — $ — $ 60 Total assets measured at fair value $ 60 $ — $ — $ 60 (Amounts in thousands) Fair Value at December 31, 2017 Nonrecurring basis Total Level 1 Level 2 Level 3 Collateral dependent impaired loans $ 60 $ — $ — $ 60 Other real estate owned 35 — — 35 Total assets measured at fair value $ 95 $ — $ — $ 95 |
Loss from Nonrecurring Fair Value [Table Text Block] | (Amounts in thousands) Three Months Ended March 31, Fair value adjustments 2018 2017 Other real estate owned $ 113 $ 122 Total $ 113 $ 122 |
Note 1 - Summary of Significa28
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($) | Dec. 31, 2017 | |
Number Of Wholly Owned Trusts | 1 | 1 |
Retained Earnings [Member] | ||
Reclassification of Accumulated Other Comprehensive Income Due to Tax Rate Change | $ 52 | |
Retained Earnings [Member] | Accounting Standards Update 2018-02 [Member] | ||
Reclassification of Accumulated Other Comprehensive Income Due to Tax Rate Change | 52 | |
AOCI Attributable to Parent [Member] | ||
Reclassification of Accumulated Other Comprehensive Income Due to Tax Rate Change | (52) | |
AOCI Attributable to Parent [Member] | Accounting Standards Update 2018-02 [Member] | ||
Reclassification of Accumulated Other Comprehensive Income Due to Tax Rate Change | $ (52) |
Note 2 - Common Stock Outstan29
Note 2 - Common Stock Outstanding and Earnings Per Share (Details Textual) - Public Offering [Member] $ / shares in Units, $ in Millions | May 10, 2017USD ($)$ / sharesshares |
Share Price | $ / shares | $ 10.50 |
Stock Issued During Period, Shares, New Issues | shares | 2,738,096 |
Proceeds from Issuance of Common Stock | $ | $ 26.8 |
Note 2 - Common Stock Outstan30
Note 2 - Common Stock Outstanding and Earnings Per Share - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | ||
Net income | $ 3,241 | $ 2,252 | $ 7,344 | |
Weighted average shares - basic (in shares) | [1] | 16,225 | 13,416 | |
Effect of potentially dilutive common shares (2) (in shares) | [2] | 85 | 105 | |
Weighted average number of common shares outstanding - diluted (in shares) | 16,310 | 13,521 | ||
Earnings per share - basic (in dollars per share) | $ 0.20 | $ 0.17 | ||
Earnings per share - diluted (in dollars per share) | $ 0.20 | $ 0.17 | ||
Equity Option [Member] | ||||
Anti-dilutive options not included in diluted earnings per share calculation (in shares) | ||||
Restricted Stock [Member] | ||||
Anti-dilutive options not included in diluted earnings per share calculation (in shares) | 41,915 | 33,068 | ||
[1] | Excludes unvested restricted shares because they do not have dividend or voting rights | |||
[2] | Represents the effects of the assumed exercise of stock options and vesting of non-participating restricted shares. |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Securities Held as Collateral, at Fair Value | $ 61.6 | $ 62.6 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | 155 | 138 |
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available for Sale Securities, Percent of Portfolio Guaranteed | 61.00% | 56.00% |
Commercial Mortgage Backed Securities [Member] | ||
Available for Sale Securities, Percent of Portfolio Guaranteed | 90.00% | 90.00% |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities Reconciliation (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-sale securities: | ||
Available-for-sale securities, amortized costs | $ 259,812 | $ 268,406 |
Available-for-sale securities, gross unrealized gain | 1,697 | 2,221 |
Available-for-sale securities, gross unrealized loss | (5,592) | (2,673) |
Securities available-for-sale | 255,917 | 267,954 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, amortized costs | 41,261 | 40,319 |
Available-for-sale securities, gross unrealized gain | 270 | 196 |
Available-for-sale securities, gross unrealized loss | (352) | (146) |
Securities available-for-sale | 41,179 | 40,369 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, amortized costs | 58,832 | 77,412 |
Available-for-sale securities, gross unrealized gain | 1,387 | 1,910 |
Available-for-sale securities, gross unrealized loss | (811) | (478) |
Securities available-for-sale | 59,408 | 78,844 |
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, amortized costs | 129,111 | 116,061 |
Available-for-sale securities, gross unrealized gain | 18 | 69 |
Available-for-sale securities, gross unrealized loss | (3,562) | (1,538) |
Securities available-for-sale | 125,567 | 114,592 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, amortized costs | 4,065 | 5,079 |
Available-for-sale securities, gross unrealized gain | 7 | 18 |
Available-for-sale securities, gross unrealized loss | (114) | (105) |
Securities available-for-sale | 3,958 | 4,992 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, amortized costs | 26,261 | 26,995 |
Available-for-sale securities, gross unrealized gain | 12 | 24 |
Available-for-sale securities, gross unrealized loss | (753) | (378) |
Securities available-for-sale | 25,520 | 26,641 |
Asset-backed Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, amortized costs | 282 | 2,540 |
Available-for-sale securities, gross unrealized gain | 3 | 4 |
Available-for-sale securities, gross unrealized loss | (28) | |
Securities available-for-sale | $ 285 | $ 2,516 |
Note 3 - Securities - Expected
Note 3 - Securities - Expected Maturities of Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-sale securities, amortized cost, one year or less | $ 110 | |
Available-for-sale securities, fair value, one year or less | 112 | |
Available-for-sale securities, amortized cost, after one year through five years | 84,710 | |
Available-for-sale securities, fair value, after one year through five years | 83,229 | |
Available-for-sale securities, amortized cost, after five years through ten years | 88,333 | |
Available-for-sale securities, fair value, after five years through ten years | 86,912 | |
Available-for-sale securities, amortized cost, after ten years | 86,659 | |
Available-for-sale securities, fair value, after ten years | 85,664 | |
Available-for-sale securities, amortized cost, total | 259,812 | $ 268,406 |
Available-for-sale securities, fair value, total | $ 255,917 |
Note 3 - Securities - Sales of
Note 3 - Securities - Sales of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Gross realized gains on sales of securities | $ 152 | $ 69 |
Gross realized losses on sales of securities | (116) | (3) |
Gain on investment securities, net | 36 | 66 |
US Government Agencies Debt Securities [Member] | ||
Proceeds from sales of securities | 19,398 | 13,927 |
US States and Political Subdivisions Debt Securities [Member] | ||
Gross realized gains on sales of securities | 152 | 51 |
Gross realized losses on sales of securities | (71) | |
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Gross realized gains on sales of securities | 17 | |
Corporate Debt Securities [Member] | ||
Gross realized gains on sales of securities | 1 | |
Gross realized losses on sales of securities | (3) | |
Asset-backed Securities [Member] | ||
Gross realized losses on sales of securities | $ (45) |
Note 3 - Securities - Securit35
Note 3 - Securities - Securities in an Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-sale securities, less than 12 months, fair value | $ 135,085 | $ 121,822 |
Available-for-sale securities, less than 12 months, unrealized losses | (3,517) | (1,363) |
Available-for-sale securities, 12 months or more, fair value | 51,429 | 54,495 |
Available-for-sale securities, 12 months or more, unrealized losses | (2,075) | (1,310) |
Available-for-sale securities, fair value | 186,514 | 176,317 |
Available-for-sale securities, unrealized losses | (5,592) | (2,673) |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, less than 12 months, fair value | 15,195 | 18,140 |
Available-for-sale securities, less than 12 months, unrealized losses | (286) | (102) |
Available-for-sale securities, 12 months or more, fair value | 2,003 | 2,131 |
Available-for-sale securities, 12 months or more, unrealized losses | (66) | (44) |
Available-for-sale securities, fair value | 17,198 | 20,271 |
Available-for-sale securities, unrealized losses | (352) | (146) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, less than 12 months, fair value | 17,412 | 15,030 |
Available-for-sale securities, less than 12 months, unrealized losses | (534) | (255) |
Available-for-sale securities, 12 months or more, fair value | 5,809 | 8,368 |
Available-for-sale securities, 12 months or more, unrealized losses | (277) | (223) |
Available-for-sale securities, fair value | 23,221 | 23,398 |
Available-for-sale securities, unrealized losses | (811) | (478) |
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, less than 12 months, fair value | 88,513 | 75,323 |
Available-for-sale securities, less than 12 months, unrealized losses | (2,288) | (827) |
Available-for-sale securities, 12 months or more, fair value | 31,013 | 31,036 |
Available-for-sale securities, 12 months or more, unrealized losses | (1,274) | (711) |
Available-for-sale securities, fair value | 119,526 | 106,359 |
Available-for-sale securities, unrealized losses | (3,562) | (1,538) |
Corporate Debt Securities [Member] | ||
Available-for-sale securities, less than 12 months, fair value | ||
Available-for-sale securities, less than 12 months, unrealized losses | ||
Available-for-sale securities, 12 months or more, fair value | 2,920 | 2,934 |
Available-for-sale securities, 12 months or more, unrealized losses | (114) | (105) |
Available-for-sale securities, fair value | 2,920 | 2,934 |
Available-for-sale securities, unrealized losses | (114) | (105) |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, less than 12 months, fair value | 13,965 | 11,162 |
Available-for-sale securities, less than 12 months, unrealized losses | (409) | (151) |
Available-for-sale securities, 12 months or more, fair value | 9,684 | 10,026 |
Available-for-sale securities, 12 months or more, unrealized losses | (344) | (227) |
Available-for-sale securities, fair value | 23,649 | 21,188 |
Available-for-sale securities, unrealized losses | $ (753) | (378) |
Asset-backed Securities [Member] | ||
Available-for-sale securities, less than 12 months, fair value | 2,167 | |
Available-for-sale securities, less than 12 months, unrealized losses | (28) | |
Available-for-sale securities, 12 months or more, fair value | ||
Available-for-sale securities, 12 months or more, unrealized losses | ||
Available-for-sale securities, fair value | 2,167 | |
Available-for-sale securities, unrealized losses | $ (28) |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total | $ 2,800 | $ 2,800 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 43 | $ 104 | |
Impaired Financing Receivable, Recorded Investment, Total | $ 11,462 | 13,147 | |
Percentage of Collateral Coverage to Loan Balance to Consider Restructured Loan to Performing and Accrual Status | 100.00% | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 4,216 | 5,799 | |
Financing Receivable, Modifications, Recorded Investment | $ 10,500 | $ 10,900 | |
Financing Receivable, Number of Contracts Qualified as Troubled Debt Restructuring | 113 | ||
Troubled Debt Restructurings Percentage of Gross Portfolio Loans | 1.16% | 1.24% | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |
Doubtful Grade Remaining Outstanding Period, Minimum | 180 days | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 308 | ||
Loans and Leases Receivable, Allowance, Ending Balance | $ 12,295 | $ 11,925 | |
Percentage of Allowance for Loan and Lease Losses out of Net Loans | 1.37% | 1.36% | |
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset | $ 232,900 | $ 227,700 | |
Reserve for Unfunded Commitments Included in Other Liabilities | $ 695 | $ 695 | |
Percentage of Loan Portfolio Secured by Real Estate | 80.00% | ||
Percentage of Unallocated Allowance Amount out of Allowance for Loan and Lease Losses | 4.00% | 3.00% | |
Maximum Loan to Value, Percentage | 80.00% | ||
Commercial Portfolio Segment [Member] | |||
Impaired Financing Receivable, Recorded Investment, Total | $ 2,625 | $ 3,154 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 1,109 | $ 1,603 | |
Commercial Portfolio Segment [Member] | Line of Credit [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 295 | $ 33 | |
Performing Financial Instruments [Member] | |||
Impaired Financing Receivable, Recorded Investment, Total | $ 7,200 | 7,300 | |
Financing Receivable, Number of Contracts Qualified as Troubled Debt Restructuring | 108 | ||
Federal Home Loan Bank of San Francisco [Member] | |||
Loans Pledged as Collateral | $ 445,300 | $ 420,000 |
Note 4 - Loans - Outstanding Lo
Note 4 - Loans - Outstanding Loan Balances (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Gross loans | $ 900,420 | $ 879,835 |
Deferred fees and costs | 1,713 | 1,710 |
Loans, net of deferred fees and costs | 902,133 | 881,545 |
Allowance for loan and lease losses | (12,295) | (11,925) |
Net loans | 889,838 | 869,620 |
Commercial Portfolio Segment [Member] | ||
Gross loans | 137,870 | 142,405 |
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 613,201 | 585,593 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 14,723 | 15,902 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | 405,192 | 377,668 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 193,286 | 192,023 |
Residential Portfolio Segment [Member] | ||
Gross loans | 101,192 | 101,912 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | 40,425 | 41,188 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | 30,247 | 30,377 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 30,520 | 30,347 |
Consumer Portfolio Segment [Member] | ||
Gross loans | $ 48,157 | $ 49,925 |
Note 4 - Loans - Age Analysis o
Note 4 - Loans - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Loans, past due | $ 1,708 | $ 2,289 |
Loans, current | 898,712 | 877,546 |
Gross loans | 900,420 | 879,835 |
Recorded investment greater than 90 days and accruing | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 1,168 | 1,409 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 112 | 418 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | 428 | 462 |
Commercial Portfolio Segment [Member] | ||
Loans, past due | 133 | |
Loans, current | 137,737 | 142,405 |
Gross loans | 137,870 | 142,405 |
Recorded investment greater than 90 days and accruing | ||
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 133 | |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | ||
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 613,201 | 585,593 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans, past due | ||
Loans, current | 14,723 | 15,902 |
Gross loans | 14,723 | 15,902 |
Recorded investment greater than 90 days and accruing | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Loans, past due | ||
Loans, current | 405,192 | 377,668 |
Gross loans | 405,192 | 377,668 |
Recorded investment greater than 90 days and accruing | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Loans, past due | 142 | |
Loans, current | 193,286 | 191,881 |
Gross loans | 193,286 | 192,023 |
Recorded investment greater than 90 days and accruing | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Loans, past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Non-owner Occupied [Member] | ||
Loans, past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Owner Occupied Loan [Member] | ||
Loans, past due | 142 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Loans, past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Non-owner Occupied [Member] | ||
Loans, past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Owner Occupied Loan [Member] | ||
Loans, past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Loans, past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Non-owner Occupied [Member] | ||
Loans, past due | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Owner Occupied Loan [Member] | ||
Loans, past due | ||
Residential Portfolio Segment [Member] | ||
Gross loans | 101,192 | 101,912 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Loans, past due | 1,168 | 1,139 |
Loans, current | 39,257 | 40,049 |
Gross loans | 40,425 | 41,188 |
Recorded investment greater than 90 days and accruing | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Loans, past due | 463 | |
Loans, current | 30,247 | 29,914 |
Gross loans | 30,247 | 30,377 |
Recorded investment greater than 90 days and accruing | ||
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans, past due | 147 | 141 |
Loans, current | 30,373 | 30,206 |
Gross loans | 30,520 | 30,347 |
Recorded investment greater than 90 days and accruing | ||
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Loans, past due | 670 | 555 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Loans, past due | 290 | |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity Loan [Member] | ||
Loans, past due | 140 | 141 |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Loans, past due | 70 | 122 |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Loans, past due | 173 | |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity Loan [Member] | ||
Loans, past due | 7 | |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Loans, past due | 428 | 462 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Loans, past due | ||
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity Loan [Member] | ||
Loans, past due | ||
Consumer Portfolio Segment [Member] | ||
Loans, past due | 260 | 404 |
Loans, current | 47,897 | 49,521 |
Gross loans | 48,157 | 49,925 |
Recorded investment greater than 90 days and accruing | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 225 | 281 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 35 | 123 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans, past due |
Note 4 - Loans - Nonaccrual Loa
Note 4 - Loans - Nonaccrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Nonaccrual loans | $ 4,216 | $ 5,799 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual loans | 1,109 | 1,603 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Nonaccrual loans | 600 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Nonaccrual loans | 2,839 | 2,909 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Nonaccrual loans | 188 | 606 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Nonaccrual loans | 45 | 45 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual loans | $ 35 | $ 36 |
Note 4 - Loans - Impaired Loans
Note 4 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Recorded investment with no related allowance recorded | $ 6,363 | $ 7,626 |
Unpaid principal balance with no related allowance recorded | 8,071 | 10,332 |
Recorded investment with related allowance recorded | 5,099 | 5,521 |
Unpaid principal balance with related allowance recorded | 5,207 | 5,663 |
Related allowance | 1,089 | 1,169 |
Recorded investment | 11,462 | 13,147 |
Unpaid principle balance | 13,278 | 15,995 |
Commercial Portfolio Segment [Member] | ||
Recorded investment with no related allowance recorded | 83 | 672 |
Unpaid principal balance with no related allowance recorded | 97 | 1,205 |
Recorded investment with related allowance recorded | 2,542 | 2,482 |
Unpaid principal balance with related allowance recorded | 2,614 | 2,540 |
Related allowance | 614 | 690 |
Recorded investment | 2,625 | 3,154 |
Unpaid principle balance | 2,711 | 3,745 |
Residential Portfolio Segment [Member] | ||
Related allowance | 343 | 391 |
Recorded investment | 8,002 | 8,554 |
Unpaid principle balance | 9,732 | 10,746 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Recorded investment with no related allowance recorded | 6,047 | 5,895 |
Unpaid principal balance with no related allowance recorded | 7,702 | 7,516 |
Recorded investment with related allowance recorded | 1,346 | 1,628 |
Unpaid principal balance with related allowance recorded | 1,382 | 1,678 |
Related allowance | 155 | 199 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Recorded investment with no related allowance recorded | 188 | 414 |
Unpaid principal balance with no related allowance recorded | 224 | 897 |
Recorded investment with related allowance recorded | 192 | |
Unpaid principal balance with related allowance recorded | 226 | |
Related allowance | 2 | |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Recorded investment with no related allowance recorded | 45 | 45 |
Unpaid principal balance with no related allowance recorded | 48 | 49 |
Recorded investment with related allowance recorded | 376 | 380 |
Unpaid principal balance with related allowance recorded | 376 | 380 |
Related allowance | 188 | 190 |
Commercial Real Estate Portfolio Segment [Member] | ||
Related allowance | 121 | 77 |
Recorded investment | 800 | 1,403 |
Unpaid principle balance | 800 | 1,468 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Recorded investment with no related allowance recorded | 800 | 600 |
Unpaid principal balance with no related allowance recorded | 800 | 665 |
Related allowance | 121 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Recorded investment with no related allowance recorded | 803 | |
Unpaid principal balance with no related allowance recorded | 803 | |
Consumer Portfolio Segment [Member] | ||
Recorded investment with no related allowance recorded | 35 | |
Unpaid principal balance with no related allowance recorded | 35 | |
Recorded investment with related allowance recorded | 35 | 36 |
Unpaid principal balance with related allowance recorded | 35 | 36 |
Related allowance | $ 11 | 11 |
Recorded investment | 36 | |
Unpaid principle balance | $ 36 |
Note 4 - Loans - Average Record
Note 4 - Loans - Average Recorded Investment and Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Average recorded investment | $ 11,599 | $ 17,745 |
Interest income recognized | 78 | 68 |
Commercial Portfolio Segment [Member] | ||
Average recorded investment | 2,589 | 3,396 |
Interest income recognized | 21 | 10 |
Commercial Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Interest income recognized | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Average recorded investment | 802 | 2,004 |
Interest income recognized | 11 | 11 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Average recorded investment | 809 | |
Interest income recognized | 2 | |
Residential Portfolio Segment [Member] | Individual Tax Identification Number Loan [Member] | ||
Average recorded investment | 7,425 | 8,272 |
Interest income recognized | 41 | 40 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Average recorded investment | 326 | 1,728 |
Interest income recognized | ||
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Average recorded investment | 422 | 1,361 |
Interest income recognized | 5 | 5 |
Consumer Portfolio Segment [Member] | ||
Average recorded investment | 35 | 175 |
Interest income recognized |
Note 4 - Loans - Performing and
Note 4 - Loans - Performing and Nonperforming Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Gross loans | $ 900,420 | $ 879,835 |
Commercial Portfolio Segment [Member] | ||
Gross loans | 137,870 | 142,405 |
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 613,201 | 585,593 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 14,723 | 15,902 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | 405,192 | 377,668 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 193,286 | 192,023 |
Residential Portfolio Segment [Member] | ||
Gross loans | 101,192 | 101,912 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | 40,425 | 41,188 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | 30,247 | 30,377 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 30,520 | 30,347 |
Consumer Portfolio Segment [Member] | ||
Gross loans | 48,157 | 49,925 |
Performing Financial Instruments [Member] | ||
Gross loans | 896,204 | 874,036 |
Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Gross loans | 136,761 | 140,802 |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 14,723 | 15,902 |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | 405,192 | 377,668 |
Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 193,286 | 191,423 |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | 37,586 | 38,279 |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | 30,059 | 29,771 |
Performing Financial Instruments [Member] | Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 30,475 | 30,302 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Gross loans | 48,122 | 49,889 |
Nonperforming Financial Instruments [Member] | ||
Gross loans | 4,216 | 5,799 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Gross loans | 1,109 | 1,603 |
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | ||
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | ||
Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 600 | |
Nonperforming Financial Instruments [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | 2,839 | 2,909 |
Nonperforming Financial Instruments [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | 188 | 606 |
Nonperforming Financial Instruments [Member] | Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 45 | 45 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Gross loans | $ 35 | $ 36 |
Note 4 - Loans - Internal Risk
Note 4 - Loans - Internal Risk Rating by Loan Class (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Gross loans | $ 900,420 | $ 879,835 |
Commercial Portfolio Segment [Member] | ||
Gross loans | 137,870 | 142,405 |
Commercial Real Estate Portfolio Segment [Member] | ||
Gross loans | 613,201 | 585,593 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 14,723 | 15,902 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | 405,192 | 377,668 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 193,286 | 192,023 |
Residential Portfolio Segment [Member] | ||
Gross loans | 101,192 | 101,912 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | 40,425 | 41,188 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | 30,247 | 30,377 |
Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 30,520 | 30,347 |
Consumer Portfolio Segment [Member] | ||
Gross loans | 48,157 | 49,925 |
Pass [Member] | ||
Gross loans | 833,252 | 809,332 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Gross loans | 108,907 | 117,087 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 13,583 | 14,762 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | 396,829 | 364,230 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 173,616 | 171,005 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | 34,222 | 34,923 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | 29,276 | 28,981 |
Pass [Member] | Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 28,699 | 28,457 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Gross loans | 48,120 | 49,887 |
Watch [Member] | ||
Gross loans | 44,226 | 48,863 |
Watch [Member] | Commercial Portfolio Segment [Member] | ||
Gross loans | 24,023 | 22,213 |
Watch [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | ||
Watch [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | 5,452 | 9,160 |
Watch [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 12,467 | 15,198 |
Watch [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | ||
Watch [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | 784 | 791 |
Watch [Member] | Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 1,500 | 1,501 |
Watch [Member] | Consumer Portfolio Segment [Member] | ||
Gross loans | ||
Special Mention [Member] | ||
Gross loans | 10,238 | 8,052 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Gross loans | 2,627 | 40 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 1,140 | |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | 1,543 | 2,900 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 6,066 | 3,907 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 63 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Gross loans | 2 | 2 |
Substandard [Member] | ||
Gross loans | 12,704 | 13,588 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Gross loans | 2,313 | 3,065 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | 1,140 | |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | 1,368 | 1,378 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | 1,137 | 1,913 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | 6,203 | 6,265 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | 187 | 605 |
Substandard [Member] | Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | 321 | 326 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Gross loans | 35 | 36 |
Doubtful [Member] | ||
Gross loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Gross loans | ||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Gross loans | ||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Non-owner Occupied [Member] | ||
Gross loans | ||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Owner Occupied Loan [Member] | ||
Gross loans | ||
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Individual Tax Identification Number Loan [Member] | ||
Gross loans | ||
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Mortgage Receivable [Member] | ||
Gross loans | ||
Doubtful [Member] | Residential Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Gross loans | ||
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Gross loans |
Note 4 - Loans - Allowance for
Note 4 - Loans - Allowance for Credit Losses and Recorded Investment in Financing Receivables (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | |
Balance | $ 11,925 | $ 11,544 | ||
Charge-offs | (390) | (447) | ||
Recoveries | 760 | 344 | ||
Provision | 200 | |||
Balance | 12,295 | 11,641 | ||
Individually evaluated for impairment | $ 1,089 | $ 1,169 | ||
Collectively evaluated for impairment | 11,206 | 10,756 | ||
Total | 11,925 | 11,544 | 12,295 | 11,925 |
Individually evaluated for impairment | 11,462 | 13,147 | ||
Collectively evaluated for impairment | 888,958 | 866,688 | ||
Total gross loans | 900,420 | 879,835 | ||
Commercial Portfolio Segment [Member] | ||||
Balance | 2,397 | 2,849 | ||
Charge-offs | (51) | |||
Recoveries | 453 | 199 | ||
Provision | (552) | (348) | ||
Balance | 2,298 | 2,649 | ||
Individually evaluated for impairment | 614 | 690 | ||
Collectively evaluated for impairment | 1,684 | 1,707 | ||
Total | 2,397 | 2,849 | 2,298 | 2,397 |
Individually evaluated for impairment | 2,625 | 3,154 | ||
Collectively evaluated for impairment | 135,245 | 139,251 | ||
Total gross loans | 137,870 | 142,405 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 6,514 | 5,578 | ||
Charge-offs | ||||
Recoveries | 27 | |||
Provision | 384 | 358 | ||
Balance | 6,898 | 5,963 | ||
Individually evaluated for impairment | 121 | 77 | ||
Collectively evaluated for impairment | 6,777 | 6,437 | ||
Total | 6,514 | 5,578 | 6,898 | 6,514 |
Individually evaluated for impairment | 800 | 1,403 | ||
Collectively evaluated for impairment | 612,401 | 584,190 | ||
Total gross loans | 613,201 | 585,593 | ||
Residential Portfolio Segment [Member] | ||||
Balance | 1,169 | 1,716 | ||
Charge-offs | (114) | (169) | ||
Recoveries | 246 | 75 | ||
Provision | (152) | (132) | ||
Balance | 1,149 | 1,490 | ||
Individually evaluated for impairment | 343 | 391 | ||
Collectively evaluated for impairment | 806 | 778 | ||
Total | 1,169 | 1,716 | 1,149 | 1,169 |
Individually evaluated for impairment | 8,002 | 8,554 | ||
Collectively evaluated for impairment | 93,190 | 93,358 | ||
Total gross loans | 101,192 | 101,912 | ||
Consumer Portfolio Segment [Member] | ||||
Balance | 1,435 | 955 | ||
Charge-offs | (276) | (227) | ||
Recoveries | 61 | 43 | ||
Provision | 253 | 303 | ||
Balance | 1,473 | 1,074 | ||
Individually evaluated for impairment | 11 | 11 | ||
Collectively evaluated for impairment | 1,462 | 1,424 | ||
Total | 1,435 | 955 | 1,473 | 1,435 |
Individually evaluated for impairment | 35 | 36 | ||
Collectively evaluated for impairment | 48,122 | 49,889 | ||
Total gross loans | 48,157 | 49,925 | ||
Unallocated Financing Receivables [Member] | ||||
Balance | 410 | 446 | ||
Charge-offs | ||||
Recoveries | ||||
Provision | 67 | 19 | ||
Balance | 477 | 465 | ||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 477 | 410 | ||
Total | $ 410 | $ 446 | 477 | 410 |
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Total gross loans |
Note 5 - Qualified Affordable45
Note 5 - Qualified Affordable Housing Partnership Investments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Proportional Amortization Method Qualified Affordable Housing Project Investments | $ 3,391 | $ 3,529 | |
Proportional Amortization Method Qualified Affordable Housing Project Investments Unfunded Liability Obligation | $ 330 | $ 361 | |
Qualified Affordable Housing Project Investments Term | 18 years | ||
Proportional Amortization Method Qualified Affordable Housing Project Investments Amortization | $ 138 | $ 171 | |
Minimum [Member] | |||
Qualified Affordable Housing Project Investments Return Rate | 3.00% | ||
Maximum [Member] | |||
Qualified Affordable Housing Project Investments Return Rate | 6.00% |
Note 5 - Qualified Affordable46
Note 5 - Qualified Affordable Housing Partnership Investments - Original Investment in LIHTC Projects (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Original Investment | $ 7,954 | $ 7,954 | |
Current Recorded Investment | 3,391 | 3,529 | |
Unfunded Liability Obligation | 330 | 361 | |
Tax Credits and Benefits | 146 | $ 203 | |
Amortization of Investments | 138 | 171 | |
Net Income Tax Benefit | 8 | 32 | |
Raymond James California Housing Opportunities Fund II [Member] | |||
Original Investment | 2,000 | 2,000 | |
Current Recorded Investment | 1,138 | 1,182 | |
Unfunded Liability Obligation | 15 | 20 | |
Tax Credits and Benefits | 50 | 56 | |
Amortization of Investments | 44 | 45 | |
Net Income Tax Benefit | 6 | 11 | |
WNC Institutional Tax Credit Fun 38 L.P. [Member] | |||
Original Investment | 1,000 | 1,000 | |
Current Recorded Investment | 563 | 589 | |
Unfunded Liability Obligation | |||
Tax Credits and Benefits | 32 | 35 | |
Amortization of Investments | 26 | 26 | |
Net Income Tax Benefit | 6 | 9 | |
Merritt Community Capital Corporation Fund XV, L.P. [Member] | |||
Original Investment | 2,500 | 2,500 | |
Current Recorded Investment | 1,420 | 1,476 | |
Unfunded Liability Obligation | 315 | 341 | |
Tax Credits and Benefits | 56 | 68 | |
Amortization of Investments | 56 | 56 | |
Net Income Tax Benefit | 12 | ||
California Affordable Housing Fund [Member] | |||
Original Investment | 2,454 | 2,454 | |
Current Recorded Investment | 270 | 282 | |
Unfunded Liability Obligation | |||
Tax Credits and Benefits | 8 | 44 | |
Amortization of Investments | 12 | 44 | |
Net Income Tax Benefit | $ (4) |
Note 5 - Qualified Affordable47
Note 5 - Qualified Affordable Housing Partnership Investments - Generated Tax Credits and Benefits From Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Generated tax credits | $ 119 | $ 158 |
Tax benefits from taxable losses | 27 | 45 |
Raymond James California Housing Opportunities Fund II [Member] | ||
Generated tax credits | 42 | 44 |
Tax benefits from taxable losses | 8 | 12 |
WNC Institutional Tax Credit Fun 38 L.P. [Member] | ||
Generated tax credits | 28 | 28 |
Tax benefits from taxable losses | 4 | 7 |
Merritt Community Capital Corporation Fund XV, L.P. [Member] | ||
Generated tax credits | 48 | 54 |
Tax benefits from taxable losses | 8 | 14 |
California Affordable Housing Fund [Member] | ||
Generated tax credits | 1 | 32 |
Tax benefits from taxable losses | $ 7 | $ 12 |
Note 5 - Qualified Affordable48
Note 5 - Qualified Affordable Housing Partnership Investments - Anticipated Net Income Tax Benefit (Details) $ in Thousands | Mar. 31, 2018USD ($) |
2,018 | $ 22 |
2,019 | 30 |
2,020 | 29 |
2,021 | 28 |
2022 and thereafter | 49 |
Total | 158 |
Raymond James California Housing Opportunities Fund II [Member] | |
2,018 | 17 |
2,019 | 23 |
2,020 | 22 |
2,021 | 22 |
2022 and thereafter | 41 |
Total | 125 |
WNC Institutional Tax Credit Fun 38 L.P. [Member] | |
2,018 | 15 |
2,019 | 18 |
2,020 | 17 |
2,021 | 16 |
2022 and thereafter | 42 |
Total | 108 |
Merritt Community Capital Corporation Fund XV, L.P. [Member] | |
2,018 | 2 |
2,019 | 3 |
2,020 | 4 |
2,021 | 4 |
2022 and thereafter | 9 |
Total | 22 |
California Affordable Housing Fund [Member] | |
2,018 | (12) |
2,019 | (14) |
2,020 | (14) |
2,021 | (14) |
2022 and thereafter | (43) |
Total | $ (97) |
Note 6 - Term Debt (Details Tex
Note 6 - Term Debt (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2018 | Dec. 31, 2017 | |
Advances from Federal Home Loan Banks, Total | $ 30,000 | ||
Proceeds from Issuance of Senior Long-term Debt | $ 10,000 | ||
Proceeds from Issuance of Subordinated Long-term Debt | 10,000 | ||
Federal Funds Purchased [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000 | ||
Federal Funds Purchased [Member] | Minimum [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.89% | ||
Federal Funds Purchased [Member] | Maximum [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.56% | ||
Federal Reserve Bank Advances [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 23,600 | ||
Senior Notes [Member] | |||
Debt Instrument, Periodic Payment, Total | 83 | ||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 5,000 | ||
Debt Issuance Costs, Gross | $ 15 | ||
Senior Notes [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 4.00% | ||
Subordinated Debt [Member] | Fixed to Floating Interest Rate [Member] | |||
Debt Issuance Costs, Gross | $ 210 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.88% | ||
Debt Fixed Interest Term | 5 years | ||
Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Fixed to Floating Interest Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 5.26% | ||
Federal Home Loan Bank of San Francisco [Member] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 326,600 | ||
Advances from Federal Home Loan Banks, Total | 30,000 | 0 | |
Federal Home Loan Bank, Advances, Activity for Year, Average Balance of Agreements Outstanding | 12,400 | 302 | |
Federal Home Loan Bank, Advances, Activity for Year, Maximum Outstanding at any Month End | $ 30,000 | $ 10,000 | |
Debt, Weighted Average Interest Rate | 1.89% | ||
Federal Home Loan Bank of San Francisco [Member] | Real Estate [Member] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 412,100 | ||
Federal Home Loan Bank of San Francisco [Member] | Equity Securities [Member] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 27,000 | ||
Federal Home Loan Bank of San Francisco [Member] | Other Assets [Member] | |||
Federal Home Loan Bank Stock | $ 4,500 |
Note 6 - Term Debt - Term Debt
Note 6 - Term Debt - Term Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Federal Home Loan Bank of San Francisco borrowings | $ 30,000 | |
Long-term debt, gross | 16,196 | 17,096 |
Unamortized debt issuance costs | (127) | (138) |
Net term debt | 46,069 | 16,958 |
Senior Notes [Member] | ||
Long-term debt, gross | 6,196 | 7,096 |
Unamortized debt issuance costs | (6) | (6) |
Subordinated Debt [Member] | ||
Long-term debt, gross | 10,000 | 10,000 |
Unamortized debt issuance costs | $ (121) | $ (132) |
Note 6 - Term Debt - Future Con
Note 6 - Term Debt - Future Contractual Maturities of Term Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
2,018 | $ 30,750 | |
2,019 | 1,000 | |
2,020 | 4,446 | |
2,021 | ||
2,022 | ||
Thereafter | 10,000 | |
Total future maturities | 30,000 | |
Total future maturities | 46,196 | |
Federal Home Loan Bank Advances [Member] | ||
2,018 | 30,000 | |
Total future maturities | 30,000 | |
Senior Notes [Member] | ||
2,018 | 750 | |
2,019 | 1,000 | |
2,020 | 4,446 | |
2,021 | ||
2,022 | ||
Thereafter | ||
Total future maturities | 6,196 | |
Subordinated Debt [Member] | ||
2,018 | ||
2,019 | ||
2,020 | ||
2,021 | ||
2,022 | ||
Thereafter | 10,000 | |
Total future maturities | $ 10,000 |
Note 7 - Commitments and Cont52
Note 7 - Commitments and Contingencies (Details Textual) | 3 Months Ended | |
Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Number of Operating Leases Sites | 9 | |
Expiry of Standby Letters of Credit Within One Year | $ 6,300,000 | |
Expiry of Standby Letter of Credit Thereafter | 375,000 | |
Reserve for Unfunded Commitments Included in Other Liabilities | $ 695,000 | $ 695,000 |
Real Estate Related Loans Representing Lease Portfolio | 80.00% | 77.00% |
Insurance Claims [Member] | Maximum [Member] | ||
Loss Contingency, Estimate of Possible Loss | $ 225,000 | |
Other Liabilities [Member] | ||
Reserve for Unfunded Commitments Included in Other Liabilities | $ 695,000 | $ 695,000 |
Note 7 - Commitments and Cont53
Note 7 - Commitments and Contingencies - Rent Expense and Rent Income (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Rent income (1) | [1] | $ 22 | |
Rent expense | 231 | 183 | |
Net rent expense | $ 231 | $ 161 | |
[1] | Rental income is derived from OREO properties. |
Note 7 - Commitments and Cont54
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments Under Non-cancelable Operating Leases (Details) $ in Thousands | Mar. 31, 2018USD ($) |
2,018 | $ 638 |
2,019 | 866 |
2,020 | 884 |
2,021 | 899 |
2,022 | 807 |
Thereafter | 1,367 |
Total | $ 5,461 |
Note 7 - Commitments and Cont55
Note 7 - Commitments and Contingencies - Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Commitments | $ 232,881 | $ 227,744 |
Standby Letters of Credit [Member] | ||
Commitments | 6,692 | 6,692 |
Federal Home Loan Bank of San Francisco Affordable Housing Grant Sponsorships [Member] | ||
Commitments | 3,338 | 3,338 |
Commitments to Extend Credit [Member] | ||
Commitments | $ 222,851 | $ 217,714 |
Note 8 - Accumulated Other Co56
Note 8 - Accumulated Other Comprehensive (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Balance | $ 127,722 | [1] | $ 127,264 | [1] | $ 94,106 | |
Comprehensive income (loss) | (2,426) | $ 256 | 393 | |||
AOCI Attributable to Parent [Member] | ||||||
Balance | (2,744) | [1] | (403) | (266) | [1] | $ (659) |
Comprehensive income (loss) | (2,426) | $ 256 | $ 393 | |||
Reclassification of accumulated other comprehensive income due to tax rate change | $ (52) | |||||
[1] | Excludes 74 unvested restricted shares |
Note 9 - Fair Values (Details T
Note 9 - Fair Values (Details Textual) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Minimum [Member] | ||
Other Real Estate Owned Fair Value Adjustments Estimated Selling Costs Percentage | 34.00% | |
Maximum [Member] | ||
Other Real Estate Owned Fair Value Adjustments Estimated Selling Costs Percentage | 63.00% | |
Other Real Estate Owned [Member] | ||
Number of Real Estate Properties | 3 | |
OREO Carrying Amount | $ 60 | $ 173 |
Allowance for Loan and Lease Losses, Adjustments, Other | $ 113 |
Note 9 - Fair Values - Fair Val
Note 9 - Fair Values - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financial assets | ||
Securities available-for-sale | $ 255,917 | $ 267,954 |
Reported Value Measurement [Member] | ||
Financial assets | ||
Cash and cash equivalents | 33,623 | 66,970 |
Securities available-for-sale | 255,917 | 267,954 |
Net loans | 889,838 | 869,620 |
Federal Home Loan Bank of San Francisco stock | 4,536 | 4,536 |
Financial liabilities | ||
Deposits | 1,048,751 | 1,102,732 |
Term debt | 46,069 | 16,958 |
Junior subordinated debenture | 10,310 | 10,310 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets | ||
Cash and cash equivalents | 33,623 | 66,970 |
Securities available-for-sale | ||
Net loans | ||
Federal Home Loan Bank of San Francisco stock | 4,536 | 4,536 |
Financial liabilities | ||
Deposits | ||
Term debt | ||
Junior subordinated debenture | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets | ||
Cash and cash equivalents | ||
Securities available-for-sale | 255,917 | 267,954 |
Net loans | ||
Federal Home Loan Bank of San Francisco stock | ||
Financial liabilities | ||
Deposits | 1,046,581 | 1,101,523 |
Term debt | 46,115 | 16,918 |
Junior subordinated debenture | 10,405 | 10,206 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets | ||
Cash and cash equivalents | ||
Securities available-for-sale | ||
Net loans | 889,945 | 873,660 |
Federal Home Loan Bank of San Francisco stock | ||
Financial liabilities | ||
Deposits | ||
Term debt | ||
Junior subordinated debenture |
Note 9 - Fair Values - Assets a
Note 9 - Fair Values - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Securities available-for-sale, at fair value | $ 255,917 | $ 267,954 | |
Fair Value, Measurements, Recurring [Member] | |||
Total assets measured at fair value | 255,917 | 267,954 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Total assets measured at fair value | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Total assets measured at fair value | 255,917 | 267,954 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Total assets measured at fair value | |||
US Government Agencies Debt Securities [Member] | |||
Securities available-for-sale, at fair value | 41,179 | 40,369 | |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, at fair value | 41,179 | 40,369 | |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, at fair value | |||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, at fair value | 41,179 | 40,369 | |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, at fair value | |||
US States and Political Subdivisions Debt Securities [Member] | |||
Securities available-for-sale, at fair value | 59,408 | 78,844 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, at fair value | 59,408 | 78,844 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, at fair value | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, at fair value | 59,408 | 78,844 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, at fair value | |||
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | |||
Securities available-for-sale, at fair value | 125,567 | 114,592 | |
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, at fair value | 125,567 | 114,592 | |
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, at fair value | |||
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, at fair value | 125,567 | 114,592 | |
Residential Mortgage Backed Securities and Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, at fair value | |||
Corporate Debt Securities [Member] | |||
Securities available-for-sale, at fair value | 3,958 | 4,992 | |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, at fair value | 3,958 | 4,992 | |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, at fair value | |||
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, at fair value | 3,958 | 4,992 | |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, at fair value | |||
Commercial Mortgage Backed Securities [Member] | |||
Securities available-for-sale, at fair value | 25,520 | 26,641 | |
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, at fair value | 25,520 | 26,641 | |
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, at fair value | |||
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, at fair value | 25,520 | 26,641 | |
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, at fair value | |||
Asset-backed Securities [Member] | |||
Securities available-for-sale, at fair value | 285 | 2,516 | |
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, at fair value | 285 | ||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, at fair value | |||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, at fair value | 285 | ||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, at fair value | |||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | |||
Securities available-for-sale, at fair value | [1] | 2,516 | |
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available-for-sale, at fair value | [1] | ||
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available-for-sale, at fair value | [1] | 2,516 | |
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available-for-sale, at fair value | [1] | ||
[1] | Principally consists of asset-backed securities and CRA qualified mutual fund investments. |
Note 9 - Fair Values - Fair V60
Note 9 - Fair Values - Fair Value of Assets Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Other real estate owned | $ 60 | $ 35 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Other real estate owned | 60 | 35 |
Total assets measured at fair value | 60 | 95 |
Collateral dependent impaired loans | 60 | |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Other real estate owned | ||
Total assets measured at fair value | ||
Collateral dependent impaired loans | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Other real estate owned | ||
Total assets measured at fair value | ||
Collateral dependent impaired loans | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other real estate owned | 60 | 35 |
Total assets measured at fair value | $ 60 | 95 |
Collateral dependent impaired loans | $ 60 |
Note 9 - Fair Values - Losses R
Note 9 - Fair Values - Losses Resulting From Non-recurring Fair Value Adjustments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Losses resulting from nonrecurring fair value adjustments | $ 113 | $ 122 |
Other Real Estate Owned [Member] | ||
Losses resulting from nonrecurring fair value adjustments | $ 113 | $ 122 |
Note 10 - Purchase of Financi62
Note 10 - Purchase of Financial Assets (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 47 Months Ended |
Mar. 31, 2018 | Mar. 31, 2018 | |
Loan Purchase Agreement Financial Asset for Which Transfer Is Accounted as a Purchase Total Commitment to Purchase | $ 50 | |
Loan Purchase Agreement Financial Asset for Which Transfer is Accounted as a Purchase Par Value Purchased | $ 122.3 | |
Loan Purchase Agreement Financial Asset for Which Transfer Is Accounted as a Purchase Net Discount Premium | 77.3 | |
Payments for Loans | $ 45 |