Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 31, 2018 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | FARMERS NATIONAL BANC CORP /OH/ | |
Entity Central Index Key | 709,337 | |
Document Type | 10-Q | |
Trading Symbol | FMNB | |
Document Period End Date | Sep. 30, 2018 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 27,777,161 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 19,652 | $ 17,785 |
Federal funds sold and other | 55,983 | 39,829 |
TOTAL CASH AND CASH EQUIVALENTS | 75,635 | 57,614 |
Securities available for sale | 389,996 | 392,937 |
Equity securities | 6,892 | 5,579 |
Loans held for sale | 1,428 | 272 |
Loans | 1,691,532 | 1,577,381 |
Less allowance for loan losses | 13,377 | 12,315 |
NET LOANS | 1,678,155 | 1,565,066 |
Premises and equipment, net | 21,482 | 22,286 |
Goodwill | 38,201 | 38,201 |
Other intangibles | 6,104 | 7,168 |
Bank owned life insurance | 34,537 | 33,877 |
Other assets | 40,248 | 36,069 |
TOTAL ASSETS | 2,292,678 | 2,159,069 |
Deposits: | ||
Noninterest-bearing | 426,689 | 412,346 |
Interest-bearing | 1,332,022 | 1,192,373 |
TOTAL DEPOSITS | 1,758,711 | 1,604,719 |
Short-term borrowings | 264,059 | 289,565 |
Long-term borrowings | 6,214 | 6,994 |
Other liabilities | 14,905 | 15,717 |
TOTAL LIABILITIES | 2,043,889 | 1,916,995 |
Commitments and contingent liabilities | ||
Stockholders' Equity: | ||
Common Stock - Authorized 50,000,000 shares in 2018 and 35,000,000 in 2017; issued 28,179,598 in 2018 and 2017 | 185,840 | 186,903 |
Retained earnings | 77,165 | 59,208 |
Accumulated other comprehensive income (loss) | (10,671) | 596 |
Treasury stock, at cost; 402,437 shares in 2018 and 635,550 in 2017 | (3,545) | (4,633) |
TOTAL STOCKHOLDERS' EQUITY | 248,789 | 242,074 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,292,678 | $ 2,159,069 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) (Unaudited) - shares | Sep. 30, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Common stock, shares authorized | 50,000,000 | 35,000,000 |
Common stock, shares issued | 28,179,598 | 28,179,598 |
Treasury stock, shares | 402,437 | 635,550 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 20,531 | $ 17,786 | $ 58,503 | $ 51,671 |
Taxable securities | 1,226 | 1,271 | 3,687 | 3,654 |
Tax exempt securities | 1,461 | 1,232 | 4,172 | 3,473 |
Dividends | 167 | 136 | 467 | 374 |
Federal funds sold and other interest income | 178 | 126 | 490 | 271 |
TOTAL INTEREST AND DIVIDEND INCOME | 23,563 | 20,551 | 67,319 | 59,443 |
INTEREST EXPENSE | ||||
Deposits | 2,242 | 1,182 | 5,376 | 3,213 |
Short-term borrowings | 1,353 | 644 | 3,374 | 1,472 |
Long-term borrowings | 49 | 50 | 142 | 179 |
TOTAL INTEREST EXPENSE | 3,644 | 1,876 | 8,892 | 4,864 |
NET INTEREST INCOME | 19,919 | 18,675 | 58,427 | 54,579 |
Provision for loan losses | 950 | 950 | 2,475 | 2,950 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 18,969 | 17,725 | 55,952 | 51,629 |
NONINTEREST INCOME | ||||
Bank owned life insurance income | 219 | 193 | 660 | 585 |
Security gains (losses), including fair value changes for equity securities | (34) | 0 | 11 | (1) |
Net gains on sale of loans | 804 | 758 | 1,897 | 2,256 |
Other operating income | 387 | 457 | 1,086 | 1,147 |
TOTAL NONINTEREST INCOME | 6,478 | 6,058 | 18,794 | 18,000 |
NONINTEREST EXPENSES | ||||
Salaries and employee benefits | 8,966 | 8,922 | 26,532 | 26,062 |
Occupancy and equipment | 1,597 | 1,546 | 4,912 | 4,764 |
State and local taxes | 475 | 436 | 1,413 | 1,277 |
Professional fees | 687 | 726 | 2,122 | 2,248 |
Merger related costs | 0 | 270 | 25 | 436 |
Advertising | 489 | 405 | 1,143 | 966 |
FDIC insurance | 218 | 235 | 665 | 704 |
Intangible amortization | 354 | 379 | 1,063 | 1,108 |
Core processing charges | 778 | 702 | 2,311 | 2,074 |
Telephone and data | 298 | 249 | 773 | 732 |
Other operating expenses | 2,318 | 1,921 | 5,775 | 5,797 |
TOTAL NONINTEREST EXPENSES | 16,180 | 15,791 | 46,734 | 46,168 |
INCOME BEFORE INCOME TAXES | 9,267 | 7,992 | 28,012 | 23,461 |
INCOME TAXES | 1,183 | 2,009 | 4,129 | 5,985 |
NET INCOME | $ 8,084 | $ 5,983 | $ 23,883 | $ 17,476 |
EARNINGS PER SHARE - basic | $ 0.29 | $ 0.22 | $ 0.86 | $ 0.64 |
EARNINGS PER SHARE - fully diluted | $ 0.29 | $ 0.22 | $ 0.85 | $ 0.64 |
Service Charges on Deposit Accounts | ||||
NONINTEREST INCOME | ||||
Noninterest income | $ 1,151 | $ 1,077 | $ 3,139 | $ 3,017 |
Trust Fees | ||||
NONINTEREST INCOME | ||||
Noninterest income | 1,827 | 1,608 | 5,374 | 4,809 |
Insurance Agency Commissions | ||||
NONINTEREST INCOME | ||||
Noninterest income | 567 | 531 | 1,979 | 1,877 |
Retirement Plan Consulting Fees | ||||
NONINTEREST INCOME | ||||
Noninterest income | 470 | 480 | 1,314 | 1,392 |
Investment Commissions | ||||
NONINTEREST INCOME | ||||
Noninterest income | 273 | 184 | 844 | 659 |
Debit Card and EFT Fees | ||||
NONINTEREST INCOME | ||||
Noninterest income | $ 814 | $ 770 | $ 2,490 | $ 2,259 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Statement Of Income And Comprehensive Income [Abstract] | |||||
NET INCOME | $ 8,084 | $ 5,983 | $ 23,883 | $ 17,476 | |
Other comprehensive income: | |||||
Net unrealized holding gains (losses) on available for sale securities | (4,929) | (679) | (14,057) | 5,642 | |
Reclassification adjustment for losses realized in income | [1] | 27 | 0 | 24 | 1 |
Net unrealized holding gains (losses) | (4,902) | (679) | (14,033) | 5,643 | |
Income tax effect | 1,030 | 239 | 2,935 | (1,976) | |
Other comprehensive income (loss), net of tax | (3,872) | (440) | (11,098) | 3,667 | |
TOTAL COMPREHENSIVE INCOME | $ 4,212 | $ 5,543 | $ 12,785 | $ 21,143 | |
[1] | Pre-tax reclassification adjustments relating to available-for-sale securities are reported in security gains and the tax impact is included in income tax expense on the consolidated statements of income. |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | COMMON STOCK | RETAINED EARNINGS | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | TREASURY STOCK, AT COST |
Beginning balance adjusted | $ 59,377 | $ 427 | |||
Cumulative effect adjustment upon adoption of ASU 2016-01 | 169 | (169) | |||
Balance at beginning of year at Dec. 31, 2017 | $ 242,074 | $ 186,903 | 59,208 | 596 | $ (4,633) |
Issued shares under the Long Term Incentive Plan | (2,238) | 2,238 | |||
Stock compensation expense for unvested shares | 1,175 | ||||
Net income | 23,883 | 23,883 | |||
Dividends declared | (6,095) | ||||
Other comprehensive loss | (11,098) | (11,098) | |||
Retained 71,865 shares to cover tax withholdings under the Long Term Incentive Plan | (1,150) | ||||
Balance at end of year at Sep. 30, 2018 | $ 248,789 | $ 185,840 | $ 77,165 | $ (10,671) | $ (3,545) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Parenthetical) (Unaudited) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
COMMON STOCK | |
Shares issued under long term incentive plan | 233,113 |
RETAINED EARNINGS | |
Cash dividend declared per share of common stock | $ / shares | $ 0.22 |
TREASURY STOCK, AT COST | |
Shares issued under long term incentive plan | 304,978 |
Shares retained to cover tax withholdings under the Long Term Incentive Plan | 71,865 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 23,883 | $ 17,476 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Provision for loan losses | 2,475 | 2,950 |
Depreciation and amortization | 2,241 | 2,343 |
Net amortization of securities | 2,258 | 1,398 |
Security (gains) losses | (11) | 1 |
Loss on land and building sales, net | 0 | 53 |
Stock compensation expense | 1,175 | 1,368 |
(Gain) on sale of other real estate owned | (16) | (24) |
Earnings on bank owned life insurance | (660) | (585) |
Origination of loans held for sale | (51,261) | (46,518) |
Proceeds from loans held for sale | 51,851 | 48,328 |
Net gains on sale of loans | (1,897) | (2,256) |
Net change in other assets and liabilities | (2,084) | (3,304) |
NET CASH FROM OPERATING ACTIVITIES | 27,954 | 21,230 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from maturities and repayments of securities available for sale | 28,993 | 32,722 |
Proceeds from sales of securities available for sale | 7,065 | 54,493 |
Purchases of securities available for sale | (49,370) | (100,251) |
Purchase of equity securities | (1,326) | |
Purchase of restricted stock | (1,156) | (790) |
Loan originations and payments, net | (115,586) | (106,311) |
Proceeds from sale of other real estate owned | 209 | 567 |
Purchase of bank owned life insurance | 0 | (3,000) |
Additions to premises and equipment | (336) | (567) |
Net cash received in business combinations | 0 | 16,519 |
NET CASH FROM INVESTING ACTIVITIES | (131,507) | (106,618) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | 153,992 | 50,239 |
Net change in short-term borrowings | (25,506) | 87,628 |
Repayment of long-term borrowings | (817) | (5,891) |
Cash dividends paid | (6,095) | (4,360) |
NET CASH FROM FINANCING ACTIVITIES | 121,574 | 127,616 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 18,021 | 42,228 |
Beginning cash and cash equivalents | 57,614 | 41,778 |
Ending cash and cash equivalents | 75,635 | 84,006 |
Supplemental cash flow information: | ||
Interest paid | 8,627 | 4,675 |
Income taxes paid | 5,600 | 6,200 |
Supplemental noncash disclosures: | ||
Transfer of loans to other real estate | 22 | 207 |
Security purchases not settled | 1,118 | 4,902 |
Issuance of stock awards | 1,088 | 138 |
Issuance of stock for business combinations | $ 0 | $ 6,443 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Principles of Consolidation: Farmers National Banc Corp. (“Company”) is a Financial Holding Company registered under the Bank Holding Company Act of 1956, as amended. The Company provides full banking services through its nationally chartered subsidiary, The Farmers National Bank of Canfield (“Bank”). The Bank acquired Bowers Insurance Agency, Inc. (“Bowers”) and consolidated the activity of Bowers with Farmers National Insurance (“Insurance”) during 2016. The Company acquired Monitor Bancorp, Inc. (“Monitor”), the holding company for Monitor Bank in August of 2017 and consolidated all activity within the Bank. Farmers National Captive, Inc. (“Captive”) was formed during the third quarter of 2016 and is a wholly-owned insurance subsidiary of the Company that provides property and casualty insurance coverage to the Company and its subsidiaries. The Captive pools resources with thirteen other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves and to provide insurance where not currently available or economically feasible in today’s insurance market place. The consolidated financial statements also include the accounts of the Bank’s subsidiaries; Insurance and Farmers of Canfield Investment Co. (“Investments”). The Company provides trust services through its subsidiary, Farmers Trust Company (“Trust”), retirement consulting services through National Associates, Inc. (“NAI”) and insurance services through the Bank’s subsidiary, Insurance. The consolidated financial statements include the accounts of the Company, the Bank and its subsidiaries, along with the Trust, NAI and Captive. All significant intercompany balances and transactions have been eliminated in the consolidation. Basis of Presentation: The unaudited condensed consolidated financial statements have been prepared in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2017 Annual Report to Shareholders included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. The interim consolidated financial statements include all adjustments (consisting of only normal recurring items) that, in the opinion of management, are necessary for a fair presentation of the financial position and results of operations for the periods presented. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year. Certain items included in the prior period financial statements were reclassified to conform to the current period presentation. There was no effect on net income or total stockholders’ equity. Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Segments: The Company provides a broad range of financial services to individuals and companies in northeastern Ohio and western Pennsylvania. Operations are managed and financial performance is primarily aggregated and reported in three lines of business, the Bank segment, the Trust segment and the Retirement Consulting segment. Equity: The Company, with the approval of shareholders at the April 2018 annual meeting, increased the authorized shares available for issuance from 35,000,000 to 50,000,000 shares. Outstanding shares at September 30, 2018 were 27,777,161. Comprehensive Income: Comprehensive income consists of net income and other comprehensive income. Other comprehensive income consists of unrealized gains and losses on securities available for sale and changes in the funded status of the post-retirement health plan, which are recognized as separate components of stockholders equity, net of tax effects. The post-retirement health plan was eliminated during 2017 and the associated balance sheet accounts, including other comprehensive income were reduced to zero. New Accounting Standards: During April of 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities In June 2016, FASB issued ASU 2016-13: Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In February 2016, FASB issued ASU 2016-02 (Topic 842): Leases In January 2016, FASB issued ASU 2016-01: Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, FASB issued ASU 2014-09: Revenue from Contracts with Customers (Topic 606). The Company adopted ASC 606 using the modified retrospective method applied to all contracts not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606 while prior period amounts continue to be reported in accordance with legacy GAAP. The adoption of ASC 606 did not result in a change to the accounting for any of the in-scope revenue streams; as such, no cumulative effect adjustment was recorded. |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations: On August 15, 2017, the Company completed the acquisition of Monitor, the holding company for Monitor Bank. The transaction involved both cash and 465,787 shares of stock totaling $7.5 million. Pursuant to the terms of the merger agreement, common shareholders of Monitor were entitled to elect to receive consideration in cash or in common shares, without par value, of the Company, subject to an overall limitation of 85% of the Monitor common shares being exchanged for the Company’s common shares and 15% exchanged for cash. The per share cash consideration of $769.38 is equal to Monitor’s March 31 tangible book value multiplied by 1.25. Based on the volume weighted average closing price of the Company’s common shares for the 20 trading days ended August 11, 2017 of $14.04, the final stock exchange ratio was 54.80, resulting in an implied value per Monitor common share of $769.38. Goodwill of $1.0 million, which is recorded on the balance sheet, arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the companies. The goodwill was determined not to be deductible for income tax purposes. The fair value of other intangible assets of $673 thousand is related to core deposits. The following table summarizes the consideration paid for Monitor and the amounts of the assets acquired and liabilities assumed on the closing date of the acquisition. (In Thousands of Dollars) Consideration Cash $ 1,154 Stock 6,358 Fair value of total consideration transferred $ 7,512 Fair value of assets acquired Cash and due from financial institutions $ 17,673 Securities available for sale 3,057 Loans, net 19,315 Premises and equipment 192 Core deposit intangible 673 Other assets 272 Total assets 41,182 Fair value of liabilities assumed Deposits 34,586 Accrued interest payable and other liabilities 121 Total liabilities 34,707 Net assets acquired $ 6,475 Goodwill created 1,037 Total net assets acquired $ 7,512 On June 1, 2016, the Bank completed the acquisition of Bowers, and merged all activity of Bowers with Insurance, the Bank’s wholly-owned insurance agency subsidiary. Bowers is engaged in selling insurance including commercial, farm, home, and auto property/casualty insurance and will help to meet the needs of all the Company’s customers. The transaction involved both cash and 123,280 shares of stock totaling $3.2 million, including up to $1.2 million of future payments, contingent upon Bowers meeting performance targets, with an estimated fair value at the acquisition date of $880 thousand. The first of three contingent payments of cash and stock were made, during July 2017, totaling $316 thousand, which reduce the earnout payable to $564 thousand. Goodwill of $1.8 million, which is recorded on the balance sheet, arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the companies. The goodwill was determined not to be deductible for income tax purposes. The fair value of other intangible assets of $1.6 million is related to client relationships, company name and noncompetition agreements. The following table summarizes the consideration paid for Bowers and the amounts of the assets acquired and liabilities assumed on the closing date of the acquisition. (In Thousands of Dollars) Consideration Cash $ 1,137 Stock 1,138 Contingent consideration 880 Fair value of total consideration transferred $ 3,155 Fair value of assets acquired Cash $ 64 Premises and equipment 290 Other assets 34 Total assets acquired 388 Fair value of liabilities assumed 124 Net assets acquired $ 264 Assets and liabilities arising from acquisition Identified intangible assets 1,630 Deferred tax liability (588 ) Goodwill created 1,849 Total net assets acquired $ 3,155 The following table presents pro forma information as if the Monitor acquisition that occurred during August 2017 actually took place at the beginning of 2017. The pro forma information includes adjustments for merger related costs, amortization of intangibles arising from the transaction and the related income tax effects. The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effective on the assumed date. For Three Months Ended Sept. 30, For Nine Months Ended Sept. 30, (In thousands of dollars except per share results) 2017 2017 Net interest income $ 18,841 $ 55,408 Net income $ 6,016 $ 17,641 Basic and diluted earnings per share $ 0.22 $ 0.64 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | Securities: The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolio at September 30, 2018 and December 31, 2017 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income: Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value September 30, 2018 U.S. Treasury and U.S. government sponsored entities $ 6,561 $ 0 $ (178 ) $ 6,383 State and political subdivisions 205,352 707 (4,784 ) 201,275 Corporate bonds 1,207 0 (24 ) 1,183 Mortgage-backed securities - residential 154,726 19 (7,318 ) 147,427 Collateralized mortgage obligations - residential 22,498 0 (1,197 ) 21,301 Small Business Administration 13,145 0 (718 ) 12,427 Totals $ 403,489 $ 726 $ (14,219 ) $ 389,996 Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2017 U.S. Treasury and U.S. government sponsored entities $ 8,986 $ 0 $ (69 ) $ 8,917 State and political subdivisions 188,032 3,614 (643 ) 191,003 Corporate bonds 1,238 4 (8 ) 1,234 Mortgage-backed securities - residential 161,635 419 (1,604 ) 160,450 Collateralized mortgage obligations - residential 17,898 0 (777 ) 17,121 Small Business Administration 14,608 0 (396 ) 14,212 Totals $ 392,397 $ 4,037 $ (3,497 ) $ 392,937 Proceeds from the sale of portfolio securities were $4.5 million and $7.1 million during the three and nine month periods ended September 30, 2018, respectively. Gross gains of $1 and $7 thousand along with gross losses of $28 and $31 thousand were realized on these sales during the three and nine month periods ended September 30, 2018. $7 thousand of unrealized losses during the three month period and $35 thousand of unrealized gains during the nine month period were recognized in the income statement for equity securities as a result of adoption of ASU 2016-01. Proceeds from the sale of portfolio securities were $0 during the three month and $54.5 million during the nine month periods ended September 30, 2017. Gross gains were $0 and $730 thousand along with gross losses of $0 and $731 thousand during the same three and nine month periods ended September 30, 2017. The amortized cost and fair value of the debt securities portfolio are shown by expected maturity. Expected maturities may differ from contractual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. September 30, 2018 (In Thousands of Dollars) Amortized Cost Fair Value Maturity Within one year $ 10,619 $ 10,621 One to five years 41,968 41,478 Five to ten years 140,200 137,491 Beyond ten years 20,333 19,251 Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities 190,369 181,155 Total $ 403,489 $ 389,996 The following table summarizes the available-for-sale investment securities with unrealized losses at September 30, 2018 and December 31, 2017, aggregated by major security type and length of time in a continuous unrealized loss position. Less than 12 Months 12 Months or Longer Total (In Thousands of Dollars) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss September 30, 2018 Available-for-sale U.S. Treasury and U.S. government sponsored entities $ 1,574 $ (18 ) $ 4,809 $ (160 ) $ 6,383 $ (178 ) State and political subdivisions 99,196 (2,979 ) 30,670 (1,805 ) 129,866 (4,784 ) Corporate bonds 614 (8 ) 568 (16 ) 1,182 (24 ) Mortgage-backed securities - residential 74,571 (2,625 ) 72,043 (4,693 ) 146,614 (7,318 ) Collateralized mortgage obligations - residential 4,915 (103 ) 14,385 (1,094 ) 19,300 (1,197 ) Small Business Administration 4 0 12,412 (718 ) 12,416 (718 ) Total $ 180,874 $ (5,733 ) $ 134,887 $ (8,486 ) $ 315,761 $ (14,219 ) Less than 12 Months 12 Months or Longer Total (In Thousands of Dollars) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2017 Available-for-sale U.S. Treasury and U.S. government sponsored entities $ 3,970 $ (34 ) $ 1,912 $ (35 ) $ 5,882 $ (69 ) State and political subdivisions 33,188 (220 ) 25,721 (423 ) 58,909 (643 ) Corporate bonds 397 (3 ) 383 (5 ) 780 (8 ) Mortgage-backed securities - residential 40,072 (400 ) 53,760 (1,204 ) 93,832 (1,604 ) Collateralized mortgage obligations - residential 1,701 (22 ) 15,420 (755 ) 17,121 (777 ) Small Business Administration 0 0 14,182 (396 ) 14,182 (396 ) Total $ 79,328 $ (679 ) $ 111,378 $ (2,818 ) $ 190,706 $ (3,497 ) Other-Than-Temporary-Impairment Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. Investment securities are generally evaluated for OTTI under FASB ASC 320, Investments – Debt and Equity Securities When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If an entity intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income or loss. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. As of September 30, 2018, the Company’s security portfolio consisted of 582 securities, 386 of which were in an unrealized loss position. The majority of the unrealized losses on the Company’s securities are related to its holdings of mortgage-backed securities, collateralized mortgage obligations, state and political subdivision securities, and Small Business Administration securities as discussed below. Unrealized losses on debt securities issued by state and political subdivisions have not been recognized into income. These securities have maintained their investment grade ratings and management does not have the intent and does not expect to be required to sell these securities before their anticipated recovery. The fair value is expected to recover as the securities approach their maturity date. All of the Company’s holdings of collateralized mortgage obligations and residential mortgage-backed securities were issued by U.S. government-sponsored entities. Unrealized losses on these securities have not been recognized into income. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, the issues are guaranteed by the issuing entity which the U.S. government has affirmed its commitment to support, and because the Company does not have the intent to sell these residential mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be OTTI. Management does not believe any unrealized losses on Small Business Administration securities represent an OTTI. The securities are issued and backed by the full faith and credit of the U.S. government and the Company does not have the intent and does not anticipate that it will be required to sell these securities before their anticipated recovery. The fair value of these securities is expected to recover as they approach their maturity. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans | Loans: Loan balances were as follows: (In Thousands of Dollars) September 30, 2018 December 31, 2017 Originated loans: Commercial real estate Owner occupied $ 153,088 $ 140,321 Non-owner occupied 240,871 199,080 Farmland 94,987 70,534 Other 91,962 89,025 Commercial Commercial and industrial 213,552 193,347 Agricultural 33,946 32,587 Residential real estate 1-4 family residential 303,337 272,421 Home equity lines of credit 78,082 71,507 Consumer Indirect 168,643 155,950 Direct 30,628 28,519 Other 10,874 8,876 Total originated loans $ 1,419,970 $ 1,262,167 Acquired loans: Commercial real estate Owner occupied $ 47,438 $ 53,031 Non-owner occupied 18,190 20,286 Farmland 42,257 47,754 Other 10,723 11,964 Commercial Commercial and industrial 19,636 27,094 Agricultural 10,848 12,206 Residential real estate 1-4 family residential 83,268 96,759 Home equity lines of credit 25,165 28,755 Consumer Direct 10,523 14,378 Other 157 128 Total acquired loans $ 268,205 $ 312,355 Net Deferred loan costs 3,357 2,859 Allowance for loan losses (13,377 ) (12,315 ) Net loans $ 1,678,155 $ 1,565,066 Purchased credit impaired loans As part of past acquisitions the Company acquired various loans that displayed evidence of deterioration of credit quality since origination and which was probable that all contractually required payments would not be collected. The carrying amounts and contractually required payments of these loans which are included in the loan balances above are summarized in the following tables: (In Thousands of Dollars) September 30, 2018 December 31, 2017 Commercial real estate Owner occupied $ 0 $ 670 Non-owner occupied 309 387 Commercial Commercial and industrial 928 1,072 Total outstanding balance $ 1,237 $ 2,129 Carrying amount, net of allowance of $0 in 2018 and 2017 $ 898 $ 1,733 Accretable yield, or income expected to be collected, is shown in the table below: Three Months Ended Nine Months Ended (In Thousands of Dollars) September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Beginning balance $ 132 $ 209 $ 170 $ 247 New loans purchased 0 0 0 0 Accretion of income (19 ) (19 ) (57 ) (57 ) Ending balance $ 113 $ 190 $ 113 $ 190 The key assumptions considered include probability of default and the amount of actual prepayments after the acquisition date. Prepayments affect the estimated life of the loans and could change the amount of interest income and principal expected to be collected. In reforecasting future estimated cash flows, credit loss expectations are adjusted as necessary. There were no adjustments to forecasted cash flows that impacted the allowance for loan losses for the three and nine month periods ended September 30, 2018. The following tables present the activity in the allowance for loan losses by portfolio segment for the three and nine month periods ended September 30, 2018 and 2017: Three Months Ended September 30, 2018 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 4,339 $ 1,937 $ 2,651 $ 3,050 $ 787 $ 12,764 Provision for loan losses 380 96 177 309 (12 ) 950 Loans charged off 0 (32 ) (48 ) (464 ) 0 (544 ) Recoveries 21 6 40 140 0 207 Total ending allowance balance $ 4,740 $ 2,007 $ 2,820 $ 3,035 $ 775 $ 13,377 Nine Months Ended September 30, 2018 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 4,260 $ 2,011 $ 2,521 $ 2,848 $ 675 $ 12,315 Provision for loan losses 426 182 345 1,422 100 2,475 Loans charged off 0 (194 ) (172 ) (1,737 ) 0 (2,103 ) Recoveries 54 8 126 502 0 690 Total ending allowance balance $ 4,740 $ 2,007 $ 2,820 $ 3,035 $ 775 $ 13,377 Three Months Ended September 30, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 3,954 $ 1,936 $ 2,310 $ 2,927 $ 619 $ 11,746 Provision for loan losses 264 87 36 552 11 950 Loans charged off 0 (10 ) (74 ) (725 ) 0 (809 ) Recoveries 1 2 61 153 0 217 Total ending allowance balance $ 4,219 $ 2,015 $ 2,333 $ 2,907 $ 630 $ 12,104 Nine Months Ended September 30, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 3,577 $ 1,874 $ 2,205 $ 2,766 $ 430 $ 10,852 Provision for loan losses 706 302 150 1,592 200 2,950 Loans charged off (207 ) (225 ) (116 ) (1,929 ) 0 (2,477 ) Recoveries 143 64 94 478 0 779 Total ending allowance balance $ 4,219 $ 2,015 $ 2,333 $ 2,907 $ 630 $ 12,104 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment, based on impairment method as of September 30, 2018 and December 31, 2017. The recorded investment in loans includes the unpaid principal balance and unamortized loan origination fees and costs, but excludes accrued interest receivable, which is not considered to be material: September 30, 2018 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 6 $ 4 $ 308 $ 0 $ 0 $ 318 Collectively evaluated for impairment 4,676 1,987 2,469 3,031 775 12,938 Acquired loans collectively evaluated for impairment 58 16 43 4 0 121 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 4,740 $ 2,007 $ 2,820 $ 3,035 $ 775 $ 13,377 Loans: Loans individually evaluated for impairment $ 804 $ 147 $ 5,539 $ 64 $ 0 $ 6,554 Loans collectively evaluated for impairment 579,225 247,094 375,708 215,774 0 1,417,801 Acquired loans 117,907 29,791 107,903 10,678 0 266,279 Acquired with deteriorated credit quality 236 662 0 0 0 898 Total ending loans balance $ 698,172 $ 277,694 $ 489,150 $ 226,516 $ 0 $ 1,691,532 December 31, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 0 $ 4 $ 158 $ 0 $ 0 $ 162 Collectively evaluated for impairment 4,214 1,993 2,322 2,844 675 12,048 Acquired loans collectively evaluated for impairment 46 14 41 4 0 105 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 4,260 $ 2,011 $ 2,521 $ 2,848 $ 675 $ 12,315 Loans: Loans individually evaluated for impairment $ 658 $ 260 $ 4,559 $ 59 $ 0 $ 5,536 Loans collectively evaluated for impairment 497,168 225,312 339,143 198,370 0 1,259,993 Acquired loans 131,926 38,503 125,182 14,507 0 310,118 Acquired with deteriorated credit quality 948 786 0 0 0 1,734 Total ending loans balance $ 630,700 $ 264,861 $ 468,884 $ 212,936 $ 0 $ 1,577,381 The following tables present information related to impaired loans by class of loans as of September 30, 2018 and December 31, 2017: (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated September 30, 2018 With no related allowance recorded: Commercial real estate Owner occupied $ 532 $ 507 $ 0 Non-owner occupied 41 40 0 Commercial Commercial and industrial 108 74 0 Residential real estate 1-4 family residential 3,608 2,943 0 Home equity lines of credit 345 294 0 Consumer 163 64 0 Subtotal 4,797 3,922 0 With an allowance recorded: Commercial real estate Farmland 258 257 6 Commercial Commercial and industrial 73 73 4 Residential real estate 1-4 family residential 2,145 2,125 227 Home equity lines of credit 190 177 81 Subtotal 2,666 2,632 318 Total $ 7,463 $ 6,554 $ 318 (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated December 31, 2017 With no related allowance recorded: Commercial real estate Owner occupied $ 659 $ 658 $ 0 Commercial Commercial and industrial 214 192 0 Residential real estate 1-4 family residential 2,923 2,697 0 Home equity lines of credit 341 319 0 Consumer 145 59 0 Subtotal 4,282 3,925 0 With an allowance recorded: Commercial Commercial and industrial 68 68 4 Residential real estate 1-4 family residential 1,409 1,387 84 Home equity lines of credit 159 156 74 Subtotal 1,636 1,611 162 Total $ 5,918 $ 5,536 $ 162 The following tables present the average recorded investment in impaired loans by class and interest income recognized by loan class for the three and nine month periods ended September 30, 2018 and 2017: Average Recorded Investment Interest Income Recognized For Three Months Ended September 30, For Three Months Ended September 30, (In Thousands of Dollars) 2018 2017 2018 2017 With no related allowance recorded: Commercial real estate Owner occupied $ 512 $ 680 $ 8 $ 2 Non-owner occupied 40 16 1 1 Commercial Commercial and industrial 155 181 1 1 Residential real estate 1-4 family residential 2,941 2,208 40 32 Home equity lines of credit 294 326 4 4 Consumer 68 91 2 2 Subtotal 4,010 3,502 56 42 With an allowance recorded: Commercial real estate Owner occupied 0 159 0 2 Non-owner occupied 0 362 0 0 Farmland 257 0 0 0 Commercial Commercial and industrial 78 70 1 1 Residential real estate 1-4 family residential 2,132 785 19 10 Home equity lines of credit 170 97 2 1 Consumer 11 9 0 0 Subtotal 2,648 1,482 22 14 Total $ 6,658 $ 4,984 $ 78 $ 56 Average Recorded Investment Interest Income Recognized For Nine Months Ended September 30, For Nine Months Ended September 30, (In Thousands of Dollars) 2018 2017 2018 2017 With no related allowance recorded: Commercial real estate Owner occupied $ 487 $ 794 $ 23 $ 7 Non-owner occupied 22 87 1 2 Farmland 0 16 0 0 Commercial Commercial and industrial 411 182 3 3 Agricultural 0 14 0 0 Residential real estate 1-4 family residential 2,751 2,279 131 104 Home equity lines of credit 307 293 12 11 Consumer 69 90 8 8 Subtotal 4,047 3,755 178 135 With an allowance recorded: Commercial real estate Owner occupied 0 164 0 6 Non-owner occupied 0 854 0 28 Farmland 171 84 0 0 Commercial Commercial and industrial 71 72 3 3 Agricultural 0 66 0 0 Residential real estate 1-4 family residential 1,837 784 38 27 Home equity lines of credit 161 88 5 3 Consumer 4 3 0 0 Subtotal 2,244 2,115 46 67 Total $ 6,291 $ 5,870 $ 224 $ 202 Cash basis interest recognized during the three and nine month periods ended September 30, 2018 and 2017 was materially equal to interest income recognized. Nonaccrual loans and loans past due 90 days or more still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The following table presents the recorded investment in nonaccrual and loans past due 90 days or more still on accrual by class of loans as of September 30, 2018 and December 31, 2017: September 30, 2018 December 31, 2017 (In Thousands of Dollars) Nonaccrual Loans Past Due 90 Days or More Still Accruing Nonaccrual Loans Past Due 90 Days or More Still Accruing Originated loans: Commercial real estate Owner occupied $ 353 $ 0 $ 501 $ 0 Farmland 33 0 45 0 Commercial Commercial and industrial 178 0 249 0 Agricultural 177 0 2 0 Residential real estate 1-4 family residential 3,256 633 2,653 393 Home equity lines of credit 610 183 602 8 Consumer Indirect 344 228 457 361 Direct 51 119 63 153 Other 0 3 0 14 Total originated loans $ 5,002 $ 1,166 $ 4,572 $ 929 Acquired loans: Commercial real estate Non-owner occupied $ 88 $ 0 $ 216 $ 0 Farmland 257 0 0 0 Commercial Commercial and industrial 762 42 943 19 Agricultural 297 10 9 0 Residential real estate 1-4 family residential 882 220 613 69 Home equity lines of credit 176 123 170 0 Consumer Direct 147 50 140 15 Total acquired loans $ 2,609 $ 445 $ 2,091 $ 103 Total loans $ 7,611 $ 1,611 $ 6,663 $ 1,032 The following tables present the aging of the recorded investment in past due loans as of September 30, 2018 and December 31, 2017 by class of loans: (In Thousands of Dollars) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due and Nonaccrual Total Past Due Loans Not Past Due Total September 30, 2018 Originated loans: Commercial real estate Owner occupied $ 58 $ 0 $ 353 $ 411 $ 152,303 $ 152,714 Non-owner occupied 0 0 0 0 240,304 240,304 Farmland 419 0 33 452 94,430 94,882 Other 0 0 0 0 91,673 91,673 Commercial Commercial and industrial 237 98 178 513 212,653 213,166 Agricultural 112 0 177 289 33,757 34,046 Residential real estate 1-4 family residential 1,385 730 3,889 6,004 296,610 302,614 Home equity lines of credit 83 9 793 885 77,220 78,105 Consumer Indirect 1,888 818 572 3,278 170,836 174,114 Direct 802 330 170 1,302 29,546 30,848 Other 16 26 3 45 10,829 10,874 Total originated loans: $ 5,000 $ 2,011 $ 6,168 $ 13,179 $ 1,410,161 $ 1,423,340 Acquired loans: Commercial real estate Owner occupied $ 512 $ 0 $ 0 $ 512 $ 46,988 $ 47,500 Non-owner occupied 60 0 88 148 17,973 18,121 Farmland 527 75 257 859 41,397 42,256 Other 0 0 0 0 10,722 10,722 Commercial Commercial and industrial 246 57 804 1,107 18,527 19,634 Agricultural 20 6 307 333 10,515 10,848 Residential real estate 1-4 family residential 1,289 100 1,102 2,491 80,775 83,266 Home equity lines of credit 168 14 299 481 24,684 25,165 Consumer Direct 303 237 197 737 9,786 10,523 Other 1 0 0 1 156 157 Total acquired loans $ 3,126 $ 489 $ 3,054 $ 6,669 $ 261,523 $ 268,192 Total loans $ 8,126 $ 2,500 $ 9,222 $ 19,848 $ 1,671,684 $ 1,691,532 (In Thousands of Dollars) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due and Nonaccrual Total Past Due Loans Not Past Due Total December 31, 2017 Originated loans: Commercial real estate Owner occupied $ 4 $ 340 $ 501 $ 845 $ 139,081 $ 139,926 Non-owner occupied 0 0 0 0 198,588 198,588 Farmland 0 0 45 45 70,398 70,443 Other 0 0 0 0 88,703 88,703 Commercial Commercial and industrial 292 3 249 544 192,335 192,879 Agricultural 74 0 2 76 32,605 32,681 Residential real estate 1-4 family residential 2,044 403 3,046 5,493 266,338 271,831 Home equity lines of credit 155 18 610 783 70,754 71,537 Consumer Indirect 2,429 829 818 4,076 156,772 160,848 Direct 632 250 216 1,098 27,608 28,706 Other 115 11 14 140 8,736 8,876 Total originated loans $ 5,745 $ 1,854 $ 5,501 $ 13,100 $ 1,251,918 $ 1,265,018 Acquired loans: Commercial real estate Owner occupied $ 0 $ 0 $ 0 $ 0 $ 53,051 $ 53,051 Non-owner occupied 0 0 216 216 20,042 20,258 Farmland 454 0 0 454 47,301 47,755 Other 0 0 0 0 11,976 11,976 Commercial Commercial and industrial 327 96 962 1,385 25,709 27,094 Agricultural 87 0 9 96 12,111 12,207 Residential real estate 1-4 family residential 858 77 682 1,617 95,144 96,761 Home equity lines of credit 161 0 170 331 28,424 28,755 Consumer Direct 380 151 155 686 13,692 14,378 Other 0 1 0 1 127 128 Total acquired loans $ 2,267 $ 325 $ 2,194 $ 4,786 $ 307,577 $ 312,363 Total loans $ 8,012 $ 2,179 $ 7,695 $ 17,886 $ 1,559,495 $ 1,577,381 |
Troubled Debt Restructurings
Troubled Debt Restructurings | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Troubled Debt Restructurings | Troubled Debt Restructurings: Total troubled debt restructurings were $5.6 million and $5.0 million at September 30, 2018 and December 31, 2017, respectively. The Company has allocated $87 thousand and $68 thousand of specific reserves to customers whose loan terms have been modified in troubled debt restructurings at September 30, 2018 and December 31, 2017, respectively. There were no commitments to lend additional amounts to borrowers with loans that were classified as troubled debt restructurings at September 30, 2018 and at December 31, 2017. During the three and nine month periods ended September 30, 2018 and 2017, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; a reduction of the contractual monthly payment; a deferral of principal and interest; or a legal concession. During the three month period ended September 30, 2018, the terms of such loans included an extension of the maturity date of 84 months. During the same three month period in 2017, the terms of such loans included a reduction of the stated interest rate of the loan of 0.99% and an extension of the maturity date of 120 months. During the nine month period ended September 30, 2018, the terms of such loans included a reduction of the stated interest rate of the loan in the range of 1.75% and 2.50% and extensions of the maturity dates on these and other troubled debt restructurings in the range of 5 to 84 months. During the same nine month period in 2017, the terms of such loans included a reduction of the stated interest rate of the loan in the range of 0.49% and 1.89 % and an extension of the maturity date in the range of 6 to 132 months. The following table presents loans by class modified as troubled debt restructurings that occurred during the three and nine month periods ended September 30, 2018 and 2017: Pre-Modification Post-Modification Three Months Ended September 30, 2018 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Commercial 1 $ 19 $ 19 Residential real estate 1-4 family residential 2 87 87 Home equity lines of credit 2 34 34 Consumer Indirect 3 8 8 Other 2 19 19 Total originated loans 10 $ 167 $ 167 Acquired loans: Residential real estate 1-4 family residential 1 53 53 Consumer Other 1 3 3 Total acquired loans 2 $ 56 $ 56 Total loans 12 $ 223 $ 223 Pre-Modification Post-Modification Nine Months Ended September 30, 2018 Number of Outstanding Recorded Outstanding Recorded (In Thousands of Dollars) Loans Investment Investment Originated loans: Commercial real estate Owner occupied 1 $ 360 $ 360 Commercial 1 19 19 Residential real estate 1-4 family residential 6 341 341 Home equity lines of credit 4 48 48 Consumer Indirect 17 97 97 Other 2 19 19 Total originated loans 31 $ 884 $ 884 Acquired loans: Commercial real estate Non-owner occupied 1 42 42 Farmland 1 258 258 Commercial Commercial and industrial 2 31 31 Residential real estate 1-4 family residential 6 242 242 Consumer Other 1 3 3 Total acquired loans 11 $ 576 $ 576 Total loans 42 $ 1,460 $ 1,460 Pre-Modification Post-Modification Three Months Ended September 30, 2017 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 3 $ 235 $ 235 Home equity lines of credit 1 61 61 Consumer Indirect 8 51 51 Total originated loans 12 $ 347 $ 347 Acquired loans: Consumer Other 1 26 26 Total loans 13 $ 373 $ 373 Pre-Modification Post-Modification Nine Months Ended September 30, 2017 Number of Outstanding Recorded Outstanding Recorded (In Thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 10 $ 535 $ 538 Home equity lines of credit 9 225 225 Consumer Indirect 22 131 131 Total originated loans 41 $ 891 $ 894 Acquired loans: Residential real estate 1-4 family residential 2 24 24 Home equity lines of credit 1 57 57 Consumer Indirect 2 55 55 Total acquired loans 5 $ 136 $ 136 Total loans 46 $ 1,027 $ 1,030 There were $27 thousand and $66 thousand in charge offs and a $27 thousand and $66 thousand increase to the provision for loan losses during the three and nine month periods ended September 30, 2018, as a result of outstanding troubled debt restructurings. There were $30 thousand and $60 thousand in charge offs during the three and nine month periods ended September 30, 2017, respectively. There was a $30 thousand and a $60 thousand increase to the provision during the three and nine month period ended September 30, 2017, as a result of troubled debt restructurings. There was one commercial loan and three residential real estate loans for which there was a payment default within twelve months following the modification of the troubled debt restructuring during the three month and nine month period ended September 30, 2018. The one commercial loan was past due at September 30, 2018. There was no provision recorded as a result of the defaults during 2018. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. There were no loans for which there was a payment default within twelve months following the modification of the troubled debt restructuring during the three month and nine month periods ended September 30, 2017. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. |
Credit Quality Indicators
Credit Quality Indicators | 9 Months Ended |
Sep. 30, 2018 | |
Risks And Uncertainties [Abstract] | |
Credit Quality Indicators | Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company establishes a risk rating at origination for all commercial loan and commercial real estate relationships. For relationships over $750 thousand, management monitors the loans on an ongoing basis for any changes in the borrower’s ability to service their debt. Management also affirms the risk ratings for the loans and leases in their respective portfolios on an annual basis. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Substandard loans are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. As of September 30, 2018 and December 31, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (In Thousands of Dollars) Pass Special Mention Sub standard Total September 30, 2018 Originated loans: Commercial real estate Owner occupied $ 150,728 $ 971 $ 1,015 $ 152,714 Non-owner occupied 239,817 377 110 240,304 Farmland 94,808 0 74 94,882 Other 91,417 0 256 91,673 Commercial Commercial and industrial 206,823 3,464 2,879 213,166 Agricultural 33,361 13 672 34,046 Total originated loans $ 816,954 $ 4,825 $ 5,006 $ 826,785 Acquired loans: Commercial real estate Owner occupied $ 46,279 $ 443 $ 778 $ 47,500 Non-owner occupied 17,832 60 229 18,121 Farmland 38,041 449 3,766 42,256 Other 10,060 0 662 10,722 Commercial Commercial and industrial 17,910 195 1,529 19,634 Agricultural 9,905 346 597 10,848 Total acquired loans $ 140,027 $ 1,493 $ 7,561 $ 149,081 Total loans $ 956,981 $ 6,318 $ 12,567 $ 975,866 (In Thousands of Dollars) Pass Special Mention Sub standard Total December 31, 2017 Originated loans: Commercial real estate Owner occupied $ 137,913 $ 442 $ 1,571 $ 139,926 Non-owner occupied 198,043 419 126 198,588 Farmland 70,354 44 45 70,443 Other 88,421 36 246 88,703 Commercial Commercial and industrial 184,444 5,326 3,109 192,879 Agricultural 32,291 192 198 32,681 Total originated loans $ 711,466 $ 6,459 $ 5,295 $ 723,220 Acquired loans: Commercial real estate Owner occupied $ 51,133 $ 466 $ 1,452 $ 53,051 Non-owner occupied 19,823 63 372 20,258 Farmland 43,694 3,304 757 47,755 Other 11,299 567 110 11,976 Commercial Commercial and industrial 25,286 2 1,806 27,094 Agricultural 11,200 554 453 12,207 Total acquired loans $ 162,435 $ 4,956 $ 4,950 $ 172,341 Total loans $ 873,901 $ 11,415 $ 10,245 $ 895,561 The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential, consumer indirect and direct loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. In the 1-4 family residential real estate portfolio at September 30, 2018, there were no other real estate owned properties and $940 thousand of properties in foreclosure. Other real estate owned and foreclosure properties were $171 thousand and $336 thousand at December 31, 2017. The following tables present the recorded investment in residential, consumer indirect and direct auto loans based on payment activity as of September 30, 2018 and December 31, 2017. Nonperforming loans are loans past due 90 days or more and still accruing interest and nonaccrual loans. Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other September 30, 2018 Originated loans: Performing $ 298,725 $ 77,312 $ 173,542 $ 30,678 $ 10,871 Nonperforming 3,889 793 572 170 3 Total originated loans $ 302,614 $ 78,105 $ 174,114 $ 30,848 $ 10,874 Acquired loans: Performing $ 82,164 $ 24,866 $ 0 $ 10,326 $ 157 Nonperforming 1,102 299 0 197 0 Total acquired loans 83,266 25,165 0 10,523 157 Total loans $ 385,880 $ 103,270 $ 174,114 $ 41,371 $ 11,031 Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other December 31, 2017 Originated loans: Performing $ 268,785 $ 70,927 $ 160,030 $ 28,490 $ 8,862 Nonperforming 3,046 610 818 216 14 Total originated loans $ 271,831 $ 71,537 $ 160,848 $ 28,706 $ 8,876 Acquired loans: Performing $ 96,079 $ 28,585 $ 0 $ 14,223 $ 128 Nonperforming 682 170 0 155 0 Total acquired loans 96,761 28,755 0 14,378 128 Total loans $ 368,592 $ 100,292 $ 160,848 $ 43,084 $ 9,004 |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 9 Months Ended |
Sep. 30, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers All material revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following table presents the Company’s noninterest income by revenue stream and reportable segment, net of eliminations, for the three and nine months ended September 30, 2018 and 2017. Items outside the scope of ASC 606 are noted as such. (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Three Months Ended September 30, 2018 Service charges on deposit accounts $ 0 $ 1,151 $ 0 $ 1,151 Debit card and EFT fees 0 814 0 814 Trust fees 1,827 0 0 1,827 Insurance agency commissions 0 567 0 567 Retirement plan consulting fees 0 0 470 470 Investment commissions 0 273 0 273 Other 0 1,376 0 1,376 Total noninterest income $ 1,827 $ 4,181 $ 470 $ 6,478 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Three Months Ended September 30, 2017 Service charges on deposit accounts $ 0 $ 1,077 $ 0 $ 1,077 Debit card and EFT fees 0 770 0 770 Trust fees 1,608 0 0 1,608 Insurance agency commissions 0 531 0 531 Retirement plan consulting fees 0 0 480 480 Investment commissions 0 184 0 184 Other 0 1,408 0 1,408 Total noninterest income $ 1,608 $ 3,970 $ 480 $ 6,058 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Nine Months Ended September 30, 2018 Service charges on deposit accounts $ 0 $ 3,139 $ 0 $ 3,139 Debit card and EFT fees 0 2,490 0 2,490 Trust fees 5,374 0 0 5,374 Insurance agency commissions 0 1,979 0 1,979 Retirement plan consulting fees 0 0 1,314 1,314 Investment commissions 0 844 0 844 Other 0 3,654 0 3,654 Total noninterest income $ 5,374 $ 12,106 $ 1,314 $ 18,794 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Nine Months Ended September 30, 2017 Service charges on deposit accounts $ 0 $ 3,017 $ 0 $ 3,017 Debit card and EFT fees 0 2,259 0 2,259 Trust fees 4,809 0 0 4,809 Insurance agency commissions 0 1,877 0 1,877 Retirement plan consulting fees 0 0 1,392 1,392 Investment commissions 0 659 0 659 Other 0 3,987 0 3,987 Total noninterest income $ 4,809 $ 11,799 $ 1,392 $ 18,000 A description of the Company’s revenue streams under ASC 606 follows: Service charges on deposit accounts – The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Management reviewed the deposit account agreements, and determined that the agreements can be terminated at any time by either the Bank or the account holder. Transaction fees, such as balance transfers, wires and overdraft charges are settled the day the performance obligation is satisfied. The Bank’s monthly service charges and maintenance fees are for services provided to the customer on a monthly basis are considered a series of services that have the same pattern of transfer each month. The review of service charges assessed on deposit accounts, included the amount of variable consideration that is a part of the monthly charges. It was found that the waiver of service charges due to insufficient funds and dormant account fees is immaterial and would not require a change in the accounting treatment for these fees under the new revenue standards. Recognition of revenue under ASC 606 did not materially change the timing or magnitude of revenue recognition. Debit Card Interchange Fees – Customers and the Bank have an account agreement and maintain deposit balances with the Bank. Customers use a bank issued debit card to purchase goods and services, and the Bank earns interchange fees on those transactions, typically a percentage of the sale amount of the transaction. The Bank records the amount due when it receives the settlement from the payment network. Payments from the payment network are received and recorded into income on a daily basis. There are no contingent debit card interchange fees recorded by the Company that could be subject to a clawback in future periods. Recognition of revenue under ASC 606 did not materially change the timing or magnitude of revenue recognition. Trust fees – Services provided to Trust customers are a series of distinct services that have the same pattern of transfer each month. Fees for trust accounts are billed and drafted from trust accounts monthly. The Company records these fees on the income statement on a monthly basis. Fees are assessed based on the total investable assets of the customer’s trust account. A signed contract between the Company and the customer is maintained for all customer trust accounts with payment terms identified. It is probable that the fees will be collectible as funds being managed are accessible by the asset manager. Past history of trust fee income recorded by the Company indicates that it is highly unlikely that a significant reversal could occur. There are no contingent incentive fees recorded by the Company that could be subject to a clawback in future periods. Recognition of revenue under ASC 606 did not materially change the timing or magnitude of revenue recognition. Insurance Agency Commissions – Insurance agency commissions are received from insurance carriers for the agency’s share of commissions from customer premium payments. These commissions are recorded into income when checks are received from the insurance carriers, and there is no contingent portion associated with these commission checks. There may be a short time-lag in recording revenue when cash is received instead of recording the revenue when the policy is signed by the customer, but the time lag is insignificant and does not impact the revenue recognition process. Insurance also receives incentive checks from the insurance carriers for achieving specified levels of production with particular carriers. These amounts are recorded into income when a check is received, and there are no contingent amounts associated with these payments that may be clawed back by the carrier in the future. Similar to the monthly commissions explained in the preceding paragraph, there may be a short time-lag in recording incentive revenue on a cash basis as opposed to estimating the amount of incentive revenue expected to be earned, this does not materially impact the recognition of Insurance revenue. If there were any amounts that would need to be refunded for one specific Insurance customer, management believes the reversal would not be significant. Other potential situations surrounding the recognition of Insurance revenue include the estimating potential refunds due to the likely cancellation of a percentage of customers cancelling their policies and recording revenue at the time of policy renewals. Management concluded that since Insurance agency commissions represent only 2.3% of the Company’s total revenue, adjusting the current practice of recording insurance revenue for these situations would not have a material impact on the reporting of total revenue. Recognition of revenue under ASC 606 did not materially change the timing or magnitude of revenue recognition. Retirement Plan Consulting Fees – The fees earned from retirement plan consulting is generated by National Associates, Inc. Revenue is recognized based on the level of work performed for the client. Any payments that are received for work to be performed in the future are recorded in a deferred revenue account, and recorded into income when the fees are earned. Retirement plan consulting fees represent only 1.5% of the Company’s total revenue, and therefore management has concluded that any adjustment of revenue for one particular customer for a refund or any other reason would be insignificant and would not materially impact the Company’s total revenue. Recognition of revenue under ASC 606 did not materially change the timing or magnitude of revenue recognition. Investment Commissions – Investment commissions are earned through the sales of non-deposit investment products to customers of the Company. The sales are conducted through a third-party broker-dealer. When the commissions are received and recorded into income on the Bank’s income statement, there is no contingent portion that may need to be refunded back to Cetera. Investment commissions represent only 1.0% of the Company’s total revenue, and therefore management has concluded that any adjustment of revenue for a particular customer for a refund or any other reason would be insignificant and would not materially impact the Company’s total revenue. Recognition of revenue under ASC 606 did not materially change the timing or magnitude of revenue recognition. Other – Income items included in “Other” are Bank owned life insurance income, security gains, net gains on the sale of loans and other operating income. Any amounts within the scope of ASC 606 are deemed immaterial. |
Interest-Rate Swaps
Interest-Rate Swaps | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Interest-Rate Swaps | Interest-Rate Swaps: The Company uses a program that utilizes interest-rate swaps as part of its asset/liability management strategy. The interest-rate swaps are used to help manage the Company’s interest rate risk position and not as derivatives for trading purposes. The notional amount of the interest-rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest-rate swap agreements. The objective of the interest-rate swaps is to protect the related fixed rate commercial real estate loans from changes in fair value due to changes in interest rates. The Company has a program whereby it lends to its borrowers at a fixed rate with the loan agreement containing a two-way yield maintenance provision, which will be invoked in the event of prepayment of the loan, and is expected to exactly offset the fair value of unwinding the swap. The yield maintenance provision represents an embedded derivative which is bifurcated from the host loan contract and, as such, the swaps and embedded derivatives are not designated as hedges. Accordingly, both instruments are carried at fair value and changes in fair value are reported in current period earnings. Summary information about these interest-rate swaps at periods ended September 30, 2018 and December 31, 2017 is as follows: September 30, 2018 December 31, 2017 Notional amounts (In thousands) $ 36,838 $ 38,481 Weighted average pay rate on interest-rate swaps 4.51 % 4.46 % Weighted average receive rate on interest-rate swaps 4.49 % 3.81 % Weighted average maturity (years) 4.5 3.2 Fair value of interest-rate swaps $ (1,167 ) $ (653 ) Fair value of loan yield maintenance provisions $ 1,167 $ 653 The fair value of the yield maintenance provisions and interest-rate swaps is recorded in other assets and other liabilities, respectively, in the consolidated balance sheets. Changes in the fair value of the yield maintenance provisions and interest-rate swaps are reported in earnings, as other noninterest income in the consolidated statements of income. For the three month and nine month periods ended September 30, 2018 and 2017 there were no net gains or losses recognized in earnings. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share: The computation of basic and diluted earnings per share is shown in the following table: Three Months Ended Sept. 30, Nine Months Ended Sept. 30, 2018 2017 2018 2017 Basic EPS Net income (In thousands) $ 8,084 $ 5,983 $ 23,883 $ 17,476 Weighted average shares outstanding 27,695,105 27,654,020 27,638,721 27,436,931 Basic earnings per share $ 0.29 $ 0.22 $ 0.86 $ 0.64 Diluted EPS Net income (In thousands) $ 8,084 $ 5,983 $ 23,883 $ 17,476 Weighted average shares outstanding for basic earnings per share 27,695,105 27,654,020 27,638,721 27,436,931 Dilutive effect of restricted stock awards 306,863 43,890 305,410 55,454 Weighted average shares for diluted earnings per share 28,001,968 27,697,910 27,944,131 27,492,385 Diluted earnings per share $ 0.29 $ 0.22 $ 0.85 $ 0.64 There were no restricted stock awards that were considered anti-dilutive for the three and nine month periods ended September 30, 2018 and 2017. |
Stock Based Compensation
Stock Based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock Based Compensation | Stock Based Compensation: During 2017, the Company, with the approval of shareholders, created the 2017 Equity Incentive Plan (the “2017 Plan”). The 2017 Plan permits the award of up to 800 thousand shares to the Company’s directors and employees to attract and retain exceptional personnel, motivate performance and most importantly to help align the interests of the Company’s executives with those of the Company’s shareholders. There were 22,729 service time based shares and 62,919 performance based shares granted under the 2017 Plan during the nine month period ended September 30, 2018, as shown in the table below. The actual number of performance based stock awards issued will depend on certain performance conditions which are mainly average return on equity compared to a group of peer companies over a three year vesting period. During 2012, the Company, with the approval of shareholders, created the 2012 Equity Incentive Plan (the “2012 Plan”). The 2012 Plan permitted the award of up to 500 thousand shares to the Company’s directors and employees to promote the Company’s long-term financial success by motivating performance through long-term incentive compensation and to better align the interests of its employees with those of its shareholders. There were no additional shares granted under the Plan during the nine month period ended September 30, 2018. Any new restricted stock awards will be issued under the 2017 Plan described above. The restricted stock awards were granted with a fair value price equal to the market price of the Company’s common stock at the date of the grant. Expense recognized was $441 thousand and $1.2 The following is the activity under the Plans during the nine month period ended September 30, 2018. Nine Months Ended September 30, 2018 Maximum Awarded Service Units Weighted Average Grant Fair Value Maximum Awarded Performance Units Weighted Average Grant Fair Value Beginning balance - non-vested shares 323,331 $ 9.20 266,515 $ 9.43 Granted 22,729 14.68 62,919 14.31 Vested (241,105 ) 7.99 (63,873 ) 7.76 Forfeited 0 0.00 (61,733 ) 7.76 Ending balance - non-vested shares 104,955 $ 13.16 203,828 $ 11.96 The 304,978 shares that vested during the nine month period ended September 30, 2018 had a weighted average fair value of $15.28 per share. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2018 | |
Comprehensive Income Net Of Tax [Abstract] | |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss): The following table represents the details of other comprehensive income for the three and nine month periods ended September 30, 2018 and 2017. Three Months Ended September 30, 2018 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ (4,929 ) $ 1,036 $ (3,893 ) Reclassification adjustment for (gains) losses included in net income (1) 27 (6 ) 21 Net other comprehensive income (loss) $ (4,902 ) $ 1,030 $ (3,872 ) Three Months Ended September 30, 2017 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ (679 ) $ 239 $ (440 ) Reclassification adjustment for losses included in net income (1) 0 0 0 Net other comprehensive income (loss) $ (679 ) $ 239 $ (440 ) Nine Months Ended September 30, 2018 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ (14,057 ) $ 2,940 $ (11,117 ) Reclassification adjustment for (gains) losses included in net income (1) 24 (5 ) 19 Net other comprehensive income (loss) $ (14,033 ) $ 2,935 $ (11,098 ) Nine Months Ended September 30, 2017 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ 5,642 $ (1,975 ) $ 3,667 Reclassification adjustment for (gains) losses included in net income (1) 1 (1 ) 0 Net other comprehensive income (loss) $ 5,643 $ (1,976 ) $ 3,667 (1) Pre-tax reclassification adjustments relating to available-for-sale securities are reported in security gains and the tax impact is included in income tax expense on the consolidated statements of income. |
Regulatory Capital Matters
Regulatory Capital Matters | 9 Months Ended |
Sep. 30, 2018 | |
Regulatory Capital Requirements [Abstract] | |
Regulatory Capital Matters | Regulatory Capital Matters Banks and bank holding companies are subject to various regulatory capital requirements administered by the federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. The new minimum capital requirements associated with the Basel Committee on capital and liquidity regulation (Basel III) are being phased in and began on January 1, 2015 and will continue through January 1, 2019. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action by regulators that, if undertaken, could have a direct material effect on the financial statements. Management believes that as of September 30, 2018, the Company and the Bank meet all capital adequacy requirements to which they are subject. The Federal Deposit Insurance Corporation and other federal banking regulators revised the risk-based capital requirements applicable to financial holding companies and insured depository institutions, including the Company and the Bank, to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision (“Basel III”). The common equity tier 1 capital, tier 1 capital and total capital ratios are calculated by dividing the respective capital amounts by risk-weighted assets. The leverage ratio is calculated by dividing tier 1 capital by adjusted average total assets. Basel III limits capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” consisting of 2.5% of common equity tier 1 capital, tier 1 capital and total capital to risk-weighted assets in addition to the amount necessary to meet minimum risk-based capital requirements. The capital conservation buffer phase in began January 1, 2016 and will increase each year until fully implemented at 2.5% on January 1, 2019. The additional capital conservation buffer is 1.875% for the year of 2018 and was 1.25% during 2017. Excluding the additional buffer, Basel III requires the Company and the Bank to maintain (i) a minimum ratio of common equity tier 1 capital to risk-weighted assets of at least 4.5%, (ii) a minimum ratio of tier 1 capital to risk-weighted assets of at least 6.0%, (iii) a minimum ratio of total capital to risk-weighted assets of at least 8.0% and (iv) a minimum leverage ratio of at least 4.0%. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If only adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At September 30, 2018 and December 31, 2017, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. Actual and required capital amounts and ratios are presented below at September 30, 2018 and December 31, 2017: Actual Requirement For Capital Adequacy Purposes: To be Well Capitalized Under Prompt Corrective Action Provisions: Amount Ratio Amount Ratio Amount Ratio September 30, 2018 Common equity tier 1 capital ratio Consolidated $ 216,942 12.13 % $ 80,479 4.5 % N/A N/A Bank 201,312 11.29 % 80,215 4.5 % $ 115,866 6.5 % Total risk based capital ratio Consolidated 232,565 13.00 % 143,073 8.0 % N/A N/A Bank 214,689 12.04 % 142,604 8.0 % 178,255 10.0 % Tier I risk based capital ratio Consolidated 219,188 12.26 % 107,305 6.0 % N/A N/A Bank 201,312 11.29 % 106,953 6.0 % 142,604 8.0 % Tier I leverage ratio Consolidated 219,188 9.87 % 88,800 4.0 % N/A N/A Bank 201,312 9.13 % 88,234 4.0 % 110,293 5.0 % December 31, 2017 Common equity tier 1 capital ratio Consolidated $ 199,201 11.86 % $ 75,573 4.5 % N/A N/A Bank 192,080 11.45 % 75,462 4.5 % $ 109,001 6.5 % Total risk based capital ratio Consolidated 213,725 12.73 % 134,352 8.0 % N/A N/A Bank 204,395 12.19 % 134,155 8.0 % 167,694 10.0 % Tier I risk based capital ratio Consolidated 201,410 11.99 % 100,764 6.0 % N/A N/A Bank 192,080 11.45 % 100,616 6.0 % 134,155 8.0 % Tier I leverage ratio Consolidated 201,410 9.50 % 84,800 4.0 % N/A N/A Bank 192,080 9.12 % 84,253 4.0 % 105,316 5.0 % |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Fair Value Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 – Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Investment Securities: The Company uses a third party service to estimate fair value on available for sale securities on a monthly basis. ASU 2016-01, which was adopted by the Company as of January 1, 2018, requires the use of exit price notion when measuring the fair value of financial instruments for disclosure purposes. The Company’s service provider is considered a leading evaluation pricing service for U.S. domestic fixed income securities and complies fully with ASU 2016-01’s exit pricing requirements. They subscribe to multiple third-party pricing vendors, and supplement that information with matrix pricing methods. The fair values for investment securities, which consist of equity securities that are recorded at fair market value to comply with ASU 2016-01, are determined by quoted market prices in active markets, if available (Level 1). The equity securities change in fair market value is recorded in the income statements. For securities where quoted prices are not available, fair values are calculated based on quoted prices for similar assets in active markets, quoted prices for similar assets in markets that are not active or inputs other than quoted prices, which provide a reasonable basis for fair value determination. Such inputs may include interest rates and yield curves, volatilities, prepayment speeds, credit risks and default rates. Inputs used are derived principally from observable market data (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). The fair values of Level 3 investment securities are determined by using unobservable inputs to measure fair value of assets for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based on the best information at the time, to the extent that inputs are available without undue cost and effort. For the period ended September 30, 2018 the fair value of Level 3 investment securities was immaterial. Derivative Instruments: The fair values of derivative instruments are based on valuation models using observable market data as of the measurement date (Level 2). Impaired Loans: At the time loans are considered impaired, collateral dependent impaired loans are valued at the lower of cost or fair value and non-collateral dependent loans are valued based on discounted cash flows. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral dependent loans fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Other Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair values are commonly based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial and commercial real estate properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Appraisal Department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what adjustments should be made to appraisals to arrive at fair value. Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurements at September 30, 2018 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Investment securities available-for sale U.S. Treasury and U.S. government sponsored entities $ 6,383 $ 0 $ 6,383 $ 0 State and political subdivisions 201,275 0 201,275 0 Corporate bonds 1,183 0 1,183 0 Mortgage-backed securities-residential 147,427 0 147,421 6 Collateralized mortgage obligations 21,301 0 21,301 0 Small Business Administration 12,427 0 12,427 0 Equity securities 427 427 0 0 Other investments measured at net asset value 6,465 n/a n/a n/a Total investment securities $ 396,888 $ 427 $ 389,990 $ 6 Loan yield maintenance provisions $ 1,167 $ 0 $ 1,167 $ 0 Financial Liabilities Interest rate swaps $ 1,167 $ 0 $ 1,167 $ 0 Fair Value Measurements at December 31, 2017 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Investment securities available-for sale U.S. Treasury and U.S. government sponsored entities $ 8,917 $ 0 $ 8,917 $ 0 State and political subdivisions 191,003 0 191,003 0 Corporate bonds 1,234 0 1,234 0 Mortgage-backed securities-residential 160,450 0 160,442 8 Collateralized mortgage obligations 17,121 0 17,121 0 Small Business Administration 14,212 0 14,212 0 Equity securities 394 394 0 0 Other investments measured at net asset value 5,185 n/a n/a n/a Total investment securities $ 398,516 $ 394 $ 392,929 $ 8 Loan yield maintenance provisions $ 653 $ 0 $ 653 $ 0 Financial Liabilities Interest rate swaps $ 653 $ 0 $ 653 $ 0 There were no significant transfers between Level 1 and Level 2 during the three and nine month periods ended September 30, 2018 and 2017. For additional information related to yield maintenance provisions and interest rate swaps see Interest – Rate Swaps note. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Investment Securities Available-for-sale (Level 3) Three Months ended September 30, Nine Months ended September 30, (In Thousands of Dollars) 2018 2017 2018 2017 Beginning Balance $ 7 $ 10 $ 8 $ 12 Transfers from level 2 0 0 0 0 Repayments, calls and maturities (1 ) (1 ) (2 ) (3 ) Ending Balance $ 6 $ 9 $ 6 $ 9 Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at September 30, 2018 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Impaired loans Commercial real estate Farmland $ 251 $ 0 $ 0 $ 251 Commercial Commercial and industrial 10 0 0 10 1–4 family residential 1,346 0 0 1,346 Consumer 15 0 0 15 Fair Value Measurements at December 31, 2017 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets 1–4 family residential $ 740 $ 0 $ 0 $ 740 Consumer 2 0 0 2 Impaired loans that are measured for impairment using the fair value of the collateral for collateral dependent loans, had a principal balance of $1.9 million with a valuation allowance of $267 thousand at September 30, 2018, resulting in $94 thousand and $222 thousand in additional provision for loan losses for the three and nine months period ending September 30, 2018. At December 31, 2017, impaired loans had a principal balance of $851 thousand, with a valuation allowance of $109 thousand. Loans measured at fair value at September 30, 2017 resulted in an additional provision for loan losses of $16 thousand and $173 thousand for the three and nine month period ending September 30, 2017. Excluded from the fair value of impaired loans, at September 30, 2018 and December 31, 2017, discussed above are $707 thousand and $763 thousand of loans classified as troubled debt restructurings and measured using the present value of cash flows, which is not considered an exit price. Impaired commercial real estate loans, both owner-occupied and non-owner occupied are valued by independent external appraisals. These external appraisals are prepared using the sales comparison approach and income approach valuation techniques. Management makes subsequent unobservable adjustments to the impaired loan appraisals. Impaired loans other than commercial real estate and other real estate owned are not considered material. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the periods ended September 30, 2018 and December 31, 2017: September 30, 2018 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 251 Sales Comparison Adjustment for differences between comparable sales (22.70%) - 16.16% 9.39% Commercial 10 Sales Comparison Adjustment for differences between comparable sales (18.61%) - 28.25% (7.66%) Residential 1,346 Sales comparison Adjustment for differences between comparable sales (15.76%) - 27.92% 3.03% Consumer 15 Sales comparison Adjustment for differences between comparable sales (12.04%) - 12.04% 0.00% December 31, 2017 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Residential $ 740 Sales comparison Adjustment for differences between comparable sales (15.67%) - 27.92% 0.53% Consumer 2 Sales comparison Adjustment for differences between comparable sales (21.98%) - 21.98% (0.00%) The carrying amounts and estimated fair values of financial instruments not previously disclosed at September 30, 2018 and December 31, 2017 are as follows: Fair Value Measurements at September 30, 2018 Using: (In Thousands of Dollars) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 75,635 $ 19,652 $ 55,983 $ 0 $ 75,635 Restricted stock 11,647 n/a n/a n/a n/a Loans held for sale 1,428 0 1,471 0 1,471 Loans, net 1,678,155 0 0 1,630,224 1,630,224 Accrued interest receivable 7,377 0 2,321 5,056 7,377 Financial liabilities Deposits 1,758,711 1,451,980 299,623 0 1,751,603 Short-term borrowings 264,059 0 264,059 0 264,059 Long-term borrowings 6,214 0 5,968 0 5,968 Accrued interest payable 898 69 829 0 898 Fair Value Measurements at December 31, 2017 Using: (In Thousands of Dollars) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 57,614 $ 17,785 $ 39,829 $ 0 $ 57,614 Restricted stock 10,491 n/a n/a n/a n/a Loans held for sale 272 0 283 0 283 Loans, net 1,565,066 0 0 1,569,381 1,569,381 Accrued interest receivable 6,669 0 2,255 4,414 6,669 Financial liabilities Deposits 1,604,719 1,340,814 259,346 0 1,600,160 Short-term borrowings 289,565 0 289,565 0 289,565 Long-term borrowings 6,994 0 6,690 0 6,690 Accrued interest payable 633 46 587 0 633 The methods and assumptions used to estimate fair value, not previously described, are described as follows: Cash and Cash Equivalents: The carrying amounts of cash and short-term instruments approximate fair values and are classified as either Level 1 or Level 2. The Company has determined that cash on hand and non-interest bearing due from bank accounts are Level 1 whereas interest bearing federal funds sold and other are Level 2. Restricted Stock: It is not practical to determine the fair value of restricted stock due to restrictions placed on its transferability. Loans: Fair values of loans, excluding loans held for sale, are estimated as follows: Beginning March 31, 2018 the Company used a third party firm that uses cash flow analysis and current market interest rates along with adjustments for credit, liquidity and option risk to conform to the ASU 2016-01 exit price requirement. At December 31, 2017, management used the discounted cash flow analysis and interest rates being offered for loans with similar terms to borrowers of similar credit quality to estimate fair market value. Impaired loans are valued at the lower of cost or fair value as described previously. Loans held for sale: The fair value of loans held for sale is estimated based upon binding contracts and quotes from third party investors resulting in a Level 2 classification. Accrued Interest Receivable/Payable: The carrying amounts of accrued interest receivable and payable approximate fair value resulting in a Level 1, Level 2 or Level 3 classification. The classification is the result of the association with securities, loans and deposits. Deposits: The fair values disclosed for demand deposits – interest and non-interest checking, passbook savings, and money market accounts – are, by definition, equal to the amount payable on demand at the reporting date resulting in a Level 1 classification. The carrying amounts of variable rate certificates of deposit approximate their fair values at the reporting date resulting in a Level 2 classification. Fair value for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. Short-term Borrowings: The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within ninety days, approximate their fair values resulting in a Level 2 classification. Long-term Borrowings: The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. Off-balance Sheet Instruments: The fair value of commitments is not considered material. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information: The reportable segments are determined by the products and services offered, primarily distinguished between banking, trust and retirement consulting operations. They are also distinguished by the level of information provided to the chief operating decision makers in the Company, who use such information to review performance of various components of the business, which are then aggregated. Loans, investments, and deposits provide the revenues in the banking operation. All operations are domestic. Significant segment totals are reconciled to the financial statements as follows: (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals September 30, 2018 Goodwill and other intangibles $ 4,256 $ 38,364 $ 2,507 $ (822 ) $ 44,305 Total assets $ 11,034 $ 2,273,904 $ 3,079 $ 4,661 $ 2,292,678 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals December 31, 2017 Goodwill and other intangibles $ 4,426 $ 39,120 $ 2,645 $ (822 ) $ 45,369 Total assets $ 11,261 $ 2,140,508 $ 3,365 $ 3,935 $ 2,159,069 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended September 30, 2018 Net interest income $ 39 $ 19,906 $ 0 $ (26 ) $ 19,919 Provision for loan losses 0 950 0 0 950 Service fees, security gains and other noninterest income 1,862 4,235 470 (89 ) 6,478 Noninterest expense 1,208 13,611 344 276 15,439 Amortization and depreciation expense 62 617 49 13 741 Income before taxes 631 8,963 77 (404 ) 9,267 Income taxes 132 1,136 16 (101 ) 1,183 Net income $ 499 $ 7,827 $ 61 $ (303 ) $ 8,084 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Nine Months Ended September 30, 2018 Net interest income $ 104 $ 58,390 $ 0 $ (67 ) $ 58,427 Provision for loan losses 0 2,475 0 0 2,475 Service fees, security gains and other noninterest income 5,484 12,210 1,314 (214 ) 18,794 Noninterest expense 3,640 39,047 1,045 761 44,493 Amortization and depreciation expense 187 1,866 150 38 2,241 Income before taxes 1,761 27,212 119 (1,080 ) 28,012 Income taxes 370 4,080 25 (346 ) 4,129 Net income $ 1,391 $ 23,132 $ 94 $ (734 ) $ 23,883 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended September 30, 2017 Net interest income $ 29 $ 18,667 $ 0 $ (21 ) $ 18,675 Provision for loan losses 0 950 0 0 950 Service fees, security gains and other noninterest income 1,638 3,974 480 (34 ) 6,058 Noninterest expense 1,154 13,110 343 319 14,926 Amortization and depreciation expense 69 718 65 13 865 Income before taxes 444 7,863 72 (387 ) 7,992 Income taxes 156 2,031 25 (203 ) 2,009 Net income $ 288 $ 5,832 $ 47 $ (184 ) $ 5,983 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Nine Months Ended September 30, 2017 Net interest income $ 81 $ 54,562 $ 0 $ (64 ) $ 54,579 Provision for loan losses 0 2,950 0 0 2,950 Service fees, security gains and other noninterest income 4,895 11,895 1,392 (182 ) 18,000 Noninterest expense 3,619 38,304 1,082 531 43,536 Amortization and depreciation expense 208 2,196 191 37 2,632 Income before taxes 1,149 23,007 119 (814 ) 23,461 Income taxes 402 6,068 42 (527 ) 5,985 Net income $ 747 $ 16,939 $ 77 $ (287 ) $ 17,476 The Bank segment includes Farmers National Insurance and Farmers of Canfield Investment Co. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets: Goodwill associated with the Company’s purchase of Monitor in August 2017, Bowers in June 2016 and other past acquisitions totaled $38.2 million at September 30, 2018 and Acquired Intangible Assets Acquired intangible assets were as follows: September 30, 2018 December 31, 2017 (In Thousands of Dollars) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Customer relationship intangibles $ 7,210 $ (5,341 ) $ 7,210 $ (4,919 ) Non-compete contracts 430 (379 ) 430 (376 ) Trade name 520 (216 ) 520 (175 ) Core deposit intangible 6,254 (2,374 ) 6,254 (1,776 ) Total $ 14,414 $ (8,310 ) $ 14,414 $ (7,246 ) Aggregate amortization expense was $354 thousand Estimated amortization expense for each of the next five periods and thereafter: 2018 (Three months) $ 353 2019 1,306 2020 1,203 2021 1,142 2022 1,025 Thereafter 1,075 TOTAL $ 6,104 |
Short-term Borrowings
Short-term Borrowings | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Short-term Borrowings | Short-term borrowings: There were $255 million in short-term Federal Home Loan Bank Advances at September 30, 2018 with a weighted average interest rate of 2.27%. Short-term Federal Home Loan Bank Advances were $215 million at December 31, 2017. The Company had $8.7 million and $74.2 million in securities sold under repurchase agreements for the periods ended September 30, 2018 and December 31, 2017, respectively. In addition, the Company had no Federal funds purchased and has a $350 thousand balance on business lines of credit with one lending institution at September 30, 2018 and December 31, 2017. The following table provides a disaggregation of the obligation by the class of collateral pledged for short-term financing obtained through the sales of repurchase agreements: (In Thousands of Dollars) September 30, 2018 December 31, 2017 Overnight and continuous repurchase agreements U.S. Treasury and U.S. government sponsored entities $ 574 $ 5,051 State and political subdivisions 2,934 21,731 Mortgage-backed securities - residential 5,102 46,133 Collateralized mortgage obligations - residential 534 5,011 Total repurchase agreements $ 9,144 $ 77,926 Management believes the risks associated with the agreements are minimal and, in the case of collateral decline, the Company has additional investment securities available to adequately pledge as guarantees for the repurchase agreements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation: Farmers National Banc Corp. (“Company”) is a Financial Holding Company registered under the Bank Holding Company Act of 1956, as amended. The Company provides full banking services through its nationally chartered subsidiary, The Farmers National Bank of Canfield (“Bank”). The Bank acquired Bowers Insurance Agency, Inc. (“Bowers”) and consolidated the activity of Bowers with Farmers National Insurance (“Insurance”) during 2016. The Company acquired Monitor Bancorp, Inc. (“Monitor”), the holding company for Monitor Bank in August of 2017 and consolidated all activity within the Bank. Farmers National Captive, Inc. (“Captive”) was formed during the third quarter of 2016 and is a wholly-owned insurance subsidiary of the Company that provides property and casualty insurance coverage to the Company and its subsidiaries. The Captive pools resources with thirteen other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves and to provide insurance where not currently available or economically feasible in today’s insurance market place. The consolidated financial statements also include the accounts of the Bank’s subsidiaries; Insurance and Farmers of Canfield Investment Co. (“Investments”). The Company provides trust services through its subsidiary, Farmers Trust Company (“Trust”), retirement consulting services through National Associates, Inc. (“NAI”) and insurance services through the Bank’s subsidiary, Insurance. The consolidated financial statements include the accounts of the Company, the Bank and its subsidiaries, along with the Trust, NAI and Captive. All significant intercompany balances and transactions have been eliminated in the consolidation. |
Basis of Presentation | Basis of Presentation: The unaudited condensed consolidated financial statements have been prepared in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2017 Annual Report to Shareholders included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. The interim consolidated financial statements include all adjustments (consisting of only normal recurring items) that, in the opinion of management, are necessary for a fair presentation of the financial position and results of operations for the periods presented. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year. Certain items included in the prior period financial statements were reclassified to conform to the current period presentation. There was no effect on net income or total stockholders’ equity. |
Estimates | Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Segments | Segments: The Company provides a broad range of financial services to individuals and companies in northeastern Ohio and western Pennsylvania. Operations are managed and financial performance is primarily aggregated and reported in three lines of business, the Bank segment, the Trust segment and the Retirement Consulting segment. |
Equity | Equity: The Company, with the approval of shareholders at the April 2018 annual meeting, increased the authorized shares available for issuance from 35,000,000 to 50,000,000 shares. Outstanding shares at September 30, 2018 were 27,777,161. |
Comprehensive Income | Comprehensive Income: Comprehensive income consists of net income and other comprehensive income. Other comprehensive income consists of unrealized gains and losses on securities available for sale and changes in the funded status of the post-retirement health plan, which are recognized as separate components of stockholders equity, net of tax effects. The post-retirement health plan was eliminated during 2017 and the associated balance sheet accounts, including other comprehensive income were reduced to zero. |
New Accounting Standards | New Accounting Standards: During April of 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities In June 2016, FASB issued ASU 2016-13: Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In February 2016, FASB issued ASU 2016-02 (Topic 842): Leases In January 2016, FASB issued ASU 2016-01: Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, FASB issued ASU 2014-09: Revenue from Contracts with Customers (Topic 606). The Company adopted ASC 606 using the modified retrospective method applied to all contracts not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606 while prior period amounts continue to be reported in accordance with legacy GAAP. The adoption of ASC 606 did not result in a change to the accounting for any of the in-scope revenue streams; as such, no cumulative effect adjustment was recorded. |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Pro Forma Information | The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effective on the assumed date. For Three Months Ended Sept. 30, For Nine Months Ended Sept. 30, (In thousands of dollars except per share results) 2017 2017 Net interest income $ 18,841 $ 55,408 Net income $ 6,016 $ 17,641 Basic and diluted earnings per share $ 0.22 $ 0.64 |
Monitor Bancorp, Inc. | |
Summary of Consideration Paid and Amounts of Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid for Monitor and the amounts of the assets acquired and liabilities assumed on the closing date of the acquisition. (In Thousands of Dollars) Consideration Cash $ 1,154 Stock 6,358 Fair value of total consideration transferred $ 7,512 Fair value of assets acquired Cash and due from financial institutions $ 17,673 Securities available for sale 3,057 Loans, net 19,315 Premises and equipment 192 Core deposit intangible 673 Other assets 272 Total assets 41,182 Fair value of liabilities assumed Deposits 34,586 Accrued interest payable and other liabilities 121 Total liabilities 34,707 Net assets acquired $ 6,475 Goodwill created 1,037 Total net assets acquired $ 7,512 |
Bowers Insurance Agency, Inc. | |
Summary of Consideration Paid and Amounts of Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid for Bowers and the amounts of the assets acquired and liabilities assumed on the closing date of the acquisition. (In Thousands of Dollars) Consideration Cash $ 1,137 Stock 1,138 Contingent consideration 880 Fair value of total consideration transferred $ 3,155 Fair value of assets acquired Cash $ 64 Premises and equipment 290 Other assets 34 Total assets acquired 388 Fair value of liabilities assumed 124 Net assets acquired $ 264 Assets and liabilities arising from acquisition Identified intangible assets 1,630 Deferred tax liability (588 ) Goodwill created 1,849 Total net assets acquired $ 3,155 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of the Amortized Cost and Fair Value of Available-for-Sale Investment Securities Corresponding Amounts of Unrealized Gains and Losses | The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolio at September 30, 2018 and December 31, 2017 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income: Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value September 30, 2018 U.S. Treasury and U.S. government sponsored entities $ 6,561 $ 0 $ (178 ) $ 6,383 State and political subdivisions 205,352 707 (4,784 ) 201,275 Corporate bonds 1,207 0 (24 ) 1,183 Mortgage-backed securities - residential 154,726 19 (7,318 ) 147,427 Collateralized mortgage obligations - residential 22,498 0 (1,197 ) 21,301 Small Business Administration 13,145 0 (718 ) 12,427 Totals $ 403,489 $ 726 $ (14,219 ) $ 389,996 Gross Gross (In Thousands of Dollars) Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2017 U.S. Treasury and U.S. government sponsored entities $ 8,986 $ 0 $ (69 ) $ 8,917 State and political subdivisions 188,032 3,614 (643 ) 191,003 Corporate bonds 1,238 4 (8 ) 1,234 Mortgage-backed securities - residential 161,635 419 (1,604 ) 160,450 Collateralized mortgage obligations - residential 17,898 0 (777 ) 17,121 Small Business Administration 14,608 0 (396 ) 14,212 Totals $ 392,397 $ 4,037 $ (3,497 ) $ 392,937 |
Amortized Cost and Fair Value of the Debt Securities Maturity | The amortized cost and fair value of the debt securities portfolio are shown by expected maturity. Expected maturities may differ from contractual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. September 30, 2018 (In Thousands of Dollars) Amortized Cost Fair Value Maturity Within one year $ 10,619 $ 10,621 One to five years 41,968 41,478 Five to ten years 140,200 137,491 Beyond ten years 20,333 19,251 Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities 190,369 181,155 Total $ 403,489 $ 389,996 |
Available for Sale Investment Securities with Unrealized Losses | The following table summarizes the available-for-sale investment securities with unrealized losses at September 30, 2018 and December 31, 2017, aggregated by major security type and length of time in a continuous unrealized loss position. Less than 12 Months 12 Months or Longer Total (In Thousands of Dollars) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss September 30, 2018 Available-for-sale U.S. Treasury and U.S. government sponsored entities $ 1,574 $ (18 ) $ 4,809 $ (160 ) $ 6,383 $ (178 ) State and political subdivisions 99,196 (2,979 ) 30,670 (1,805 ) 129,866 (4,784 ) Corporate bonds 614 (8 ) 568 (16 ) 1,182 (24 ) Mortgage-backed securities - residential 74,571 (2,625 ) 72,043 (4,693 ) 146,614 (7,318 ) Collateralized mortgage obligations - residential 4,915 (103 ) 14,385 (1,094 ) 19,300 (1,197 ) Small Business Administration 4 0 12,412 (718 ) 12,416 (718 ) Total $ 180,874 $ (5,733 ) $ 134,887 $ (8,486 ) $ 315,761 $ (14,219 ) Less than 12 Months 12 Months or Longer Total (In Thousands of Dollars) Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2017 Available-for-sale U.S. Treasury and U.S. government sponsored entities $ 3,970 $ (34 ) $ 1,912 $ (35 ) $ 5,882 $ (69 ) State and political subdivisions 33,188 (220 ) 25,721 (423 ) 58,909 (643 ) Corporate bonds 397 (3 ) 383 (5 ) 780 (8 ) Mortgage-backed securities - residential 40,072 (400 ) 53,760 (1,204 ) 93,832 (1,604 ) Collateralized mortgage obligations - residential 1,701 (22 ) 15,420 (755 ) 17,121 (777 ) Small Business Administration 0 0 14,182 (396 ) 14,182 (396 ) Total $ 79,328 $ (679 ) $ 111,378 $ (2,818 ) $ 190,706 $ (3,497 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Schedule of Loan Balances | Loan balances were as follows: (In Thousands of Dollars) September 30, 2018 December 31, 2017 Originated loans: Commercial real estate Owner occupied $ 153,088 $ 140,321 Non-owner occupied 240,871 199,080 Farmland 94,987 70,534 Other 91,962 89,025 Commercial Commercial and industrial 213,552 193,347 Agricultural 33,946 32,587 Residential real estate 1-4 family residential 303,337 272,421 Home equity lines of credit 78,082 71,507 Consumer Indirect 168,643 155,950 Direct 30,628 28,519 Other 10,874 8,876 Total originated loans $ 1,419,970 $ 1,262,167 Acquired loans: Commercial real estate Owner occupied $ 47,438 $ 53,031 Non-owner occupied 18,190 20,286 Farmland 42,257 47,754 Other 10,723 11,964 Commercial Commercial and industrial 19,636 27,094 Agricultural 10,848 12,206 Residential real estate 1-4 family residential 83,268 96,759 Home equity lines of credit 25,165 28,755 Consumer Direct 10,523 14,378 Other 157 128 Total acquired loans $ 268,205 $ 312,355 Net Deferred loan costs 3,357 2,859 Allowance for loan losses (13,377 ) (12,315 ) Net loans $ 1,678,155 $ 1,565,066 |
Purchased Credit Impaired Loans | As part of past acquisitions the Company acquired various loans that displayed evidence of deterioration of credit quality since origination and which was probable that all contractually required payments would not be collected. The carrying amounts and contractually required payments of these loans which are included in the loan balances above are summarized in the following tables: (In Thousands of Dollars) September 30, 2018 December 31, 2017 Commercial real estate Owner occupied $ 0 $ 670 Non-owner occupied 309 387 Commercial Commercial and industrial 928 1,072 Total outstanding balance $ 1,237 $ 2,129 Carrying amount, net of allowance of $0 in 2018 and 2017 $ 898 $ 1,733 |
Schedule of Accretable Yield or Income Expected to be Collected | Accretable yield, or income expected to be collected, is shown in the table below: Three Months Ended Nine Months Ended (In Thousands of Dollars) September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Beginning balance $ 132 $ 209 $ 170 $ 247 New loans purchased 0 0 0 0 Accretion of income (19 ) (19 ) (57 ) (57 ) Ending balance $ 113 $ 190 $ 113 $ 190 |
Activity in the Allowance for Loan Losses by Portfolio Segment | The following tables present the activity in the allowance for loan losses by portfolio segment for the three and nine month periods ended September 30, 2018 and 2017: Three Months Ended September 30, 2018 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 4,339 $ 1,937 $ 2,651 $ 3,050 $ 787 $ 12,764 Provision for loan losses 380 96 177 309 (12 ) 950 Loans charged off 0 (32 ) (48 ) (464 ) 0 (544 ) Recoveries 21 6 40 140 0 207 Total ending allowance balance $ 4,740 $ 2,007 $ 2,820 $ 3,035 $ 775 $ 13,377 Nine Months Ended September 30, 2018 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 4,260 $ 2,011 $ 2,521 $ 2,848 $ 675 $ 12,315 Provision for loan losses 426 182 345 1,422 100 2,475 Loans charged off 0 (194 ) (172 ) (1,737 ) 0 (2,103 ) Recoveries 54 8 126 502 0 690 Total ending allowance balance $ 4,740 $ 2,007 $ 2,820 $ 3,035 $ 775 $ 13,377 Three Months Ended September 30, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 3,954 $ 1,936 $ 2,310 $ 2,927 $ 619 $ 11,746 Provision for loan losses 264 87 36 552 11 950 Loans charged off 0 (10 ) (74 ) (725 ) 0 (809 ) Recoveries 1 2 61 153 0 217 Total ending allowance balance $ 4,219 $ 2,015 $ 2,333 $ 2,907 $ 630 $ 12,104 Nine Months Ended September 30, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses Beginning balance $ 3,577 $ 1,874 $ 2,205 $ 2,766 $ 430 $ 10,852 Provision for loan losses 706 302 150 1,592 200 2,950 Loans charged off (207 ) (225 ) (116 ) (1,929 ) 0 (2,477 ) Recoveries 143 64 94 478 0 779 Total ending allowance balance $ 4,219 $ 2,015 $ 2,333 $ 2,907 $ 630 $ 12,104 |
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment, Based on Impairment Method | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment, based on impairment method as of September 30, 2018 and December 31, 2017. The recorded investment in loans includes the unpaid principal balance and unamortized loan origination fees and costs, but excludes accrued interest receivable, which is not considered to be material: September 30, 2018 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 6 $ 4 $ 308 $ 0 $ 0 $ 318 Collectively evaluated for impairment 4,676 1,987 2,469 3,031 775 12,938 Acquired loans collectively evaluated for impairment 58 16 43 4 0 121 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 4,740 $ 2,007 $ 2,820 $ 3,035 $ 775 $ 13,377 Loans: Loans individually evaluated for impairment $ 804 $ 147 $ 5,539 $ 64 $ 0 $ 6,554 Loans collectively evaluated for impairment 579,225 247,094 375,708 215,774 0 1,417,801 Acquired loans 117,907 29,791 107,903 10,678 0 266,279 Acquired with deteriorated credit quality 236 662 0 0 0 898 Total ending loans balance $ 698,172 $ 277,694 $ 489,150 $ 226,516 $ 0 $ 1,691,532 December 31, 2017 (In Thousands of Dollars) Commercial Real Estate Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 0 $ 4 $ 158 $ 0 $ 0 $ 162 Collectively evaluated for impairment 4,214 1,993 2,322 2,844 675 12,048 Acquired loans collectively evaluated for impairment 46 14 41 4 0 105 Acquired with deteriorated credit quality 0 0 0 0 0 0 Total ending allowance balance $ 4,260 $ 2,011 $ 2,521 $ 2,848 $ 675 $ 12,315 Loans: Loans individually evaluated for impairment $ 658 $ 260 $ 4,559 $ 59 $ 0 $ 5,536 Loans collectively evaluated for impairment 497,168 225,312 339,143 198,370 0 1,259,993 Acquired loans 131,926 38,503 125,182 14,507 0 310,118 Acquired with deteriorated credit quality 948 786 0 0 0 1,734 Total ending loans balance $ 630,700 $ 264,861 $ 468,884 $ 212,936 $ 0 $ 1,577,381 |
Loans Individually Evaluated for Impairment by Class of Loans | The following tables present information related to impaired loans by class of loans as of September 30, 2018 and December 31, 2017: (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated September 30, 2018 With no related allowance recorded: Commercial real estate Owner occupied $ 532 $ 507 $ 0 Non-owner occupied 41 40 0 Commercial Commercial and industrial 108 74 0 Residential real estate 1-4 family residential 3,608 2,943 0 Home equity lines of credit 345 294 0 Consumer 163 64 0 Subtotal 4,797 3,922 0 With an allowance recorded: Commercial real estate Farmland 258 257 6 Commercial Commercial and industrial 73 73 4 Residential real estate 1-4 family residential 2,145 2,125 227 Home equity lines of credit 190 177 81 Subtotal 2,666 2,632 318 Total $ 7,463 $ 6,554 $ 318 (In Thousands of Dollars) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated December 31, 2017 With no related allowance recorded: Commercial real estate Owner occupied $ 659 $ 658 $ 0 Commercial Commercial and industrial 214 192 0 Residential real estate 1-4 family residential 2,923 2,697 0 Home equity lines of credit 341 319 0 Consumer 145 59 0 Subtotal 4,282 3,925 0 With an allowance recorded: Commercial Commercial and industrial 68 68 4 Residential real estate 1-4 family residential 1,409 1,387 84 Home equity lines of credit 159 156 74 Subtotal 1,636 1,611 162 Total $ 5,918 $ 5,536 $ 162 The following tables present the average recorded investment in impaired loans by class and interest income recognized by loan class for the three and nine month periods ended September 30, 2018 and 2017: Average Recorded Investment Interest Income Recognized For Three Months Ended September 30, For Three Months Ended September 30, (In Thousands of Dollars) 2018 2017 2018 2017 With no related allowance recorded: Commercial real estate Owner occupied $ 512 $ 680 $ 8 $ 2 Non-owner occupied 40 16 1 1 Commercial Commercial and industrial 155 181 1 1 Residential real estate 1-4 family residential 2,941 2,208 40 32 Home equity lines of credit 294 326 4 4 Consumer 68 91 2 2 Subtotal 4,010 3,502 56 42 With an allowance recorded: Commercial real estate Owner occupied 0 159 0 2 Non-owner occupied 0 362 0 0 Farmland 257 0 0 0 Commercial Commercial and industrial 78 70 1 1 Residential real estate 1-4 family residential 2,132 785 19 10 Home equity lines of credit 170 97 2 1 Consumer 11 9 0 0 Subtotal 2,648 1,482 22 14 Total $ 6,658 $ 4,984 $ 78 $ 56 Average Recorded Investment Interest Income Recognized For Nine Months Ended September 30, For Nine Months Ended September 30, (In Thousands of Dollars) 2018 2017 2018 2017 With no related allowance recorded: Commercial real estate Owner occupied $ 487 $ 794 $ 23 $ 7 Non-owner occupied 22 87 1 2 Farmland 0 16 0 0 Commercial Commercial and industrial 411 182 3 3 Agricultural 0 14 0 0 Residential real estate 1-4 family residential 2,751 2,279 131 104 Home equity lines of credit 307 293 12 11 Consumer 69 90 8 8 Subtotal 4,047 3,755 178 135 With an allowance recorded: Commercial real estate Owner occupied 0 164 0 6 Non-owner occupied 0 854 0 28 Farmland 171 84 0 0 Commercial Commercial and industrial 71 72 3 3 Agricultural 0 66 0 0 Residential real estate 1-4 family residential 1,837 784 38 27 Home equity lines of credit 161 88 5 3 Consumer 4 3 0 0 Subtotal 2,244 2,115 46 67 Total $ 6,291 $ 5,870 $ 224 $ 202 |
Schedule of Investment in Nonaccrual and Loans Past Due 90 Days or More Still on Accrual by Class of Loans | The following table presents the recorded investment in nonaccrual and loans past due 90 days or more still on accrual by class of loans as of September 30, 2018 and December 31, 2017: September 30, 2018 December 31, 2017 (In Thousands of Dollars) Nonaccrual Loans Past Due 90 Days or More Still Accruing Nonaccrual Loans Past Due 90 Days or More Still Accruing Originated loans: Commercial real estate Owner occupied $ 353 $ 0 $ 501 $ 0 Farmland 33 0 45 0 Commercial Commercial and industrial 178 0 249 0 Agricultural 177 0 2 0 Residential real estate 1-4 family residential 3,256 633 2,653 393 Home equity lines of credit 610 183 602 8 Consumer Indirect 344 228 457 361 Direct 51 119 63 153 Other 0 3 0 14 Total originated loans $ 5,002 $ 1,166 $ 4,572 $ 929 Acquired loans: Commercial real estate Non-owner occupied $ 88 $ 0 $ 216 $ 0 Farmland 257 0 0 0 Commercial Commercial and industrial 762 42 943 19 Agricultural 297 10 9 0 Residential real estate 1-4 family residential 882 220 613 69 Home equity lines of credit 176 123 170 0 Consumer Direct 147 50 140 15 Total acquired loans $ 2,609 $ 445 $ 2,091 $ 103 Total loans $ 7,611 $ 1,611 $ 6,663 $ 1,032 |
Schedule of Investment in Past Due Loans | The following tables present the aging of the recorded investment in past due loans as of September 30, 2018 and December 31, 2017 by class of loans: (In Thousands of Dollars) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due and Nonaccrual Total Past Due Loans Not Past Due Total September 30, 2018 Originated loans: Commercial real estate Owner occupied $ 58 $ 0 $ 353 $ 411 $ 152,303 $ 152,714 Non-owner occupied 0 0 0 0 240,304 240,304 Farmland 419 0 33 452 94,430 94,882 Other 0 0 0 0 91,673 91,673 Commercial Commercial and industrial 237 98 178 513 212,653 213,166 Agricultural 112 0 177 289 33,757 34,046 Residential real estate 1-4 family residential 1,385 730 3,889 6,004 296,610 302,614 Home equity lines of credit 83 9 793 885 77,220 78,105 Consumer Indirect 1,888 818 572 3,278 170,836 174,114 Direct 802 330 170 1,302 29,546 30,848 Other 16 26 3 45 10,829 10,874 Total originated loans: $ 5,000 $ 2,011 $ 6,168 $ 13,179 $ 1,410,161 $ 1,423,340 Acquired loans: Commercial real estate Owner occupied $ 512 $ 0 $ 0 $ 512 $ 46,988 $ 47,500 Non-owner occupied 60 0 88 148 17,973 18,121 Farmland 527 75 257 859 41,397 42,256 Other 0 0 0 0 10,722 10,722 Commercial Commercial and industrial 246 57 804 1,107 18,527 19,634 Agricultural 20 6 307 333 10,515 10,848 Residential real estate 1-4 family residential 1,289 100 1,102 2,491 80,775 83,266 Home equity lines of credit 168 14 299 481 24,684 25,165 Consumer Direct 303 237 197 737 9,786 10,523 Other 1 0 0 1 156 157 Total acquired loans $ 3,126 $ 489 $ 3,054 $ 6,669 $ 261,523 $ 268,192 Total loans $ 8,126 $ 2,500 $ 9,222 $ 19,848 $ 1,671,684 $ 1,691,532 (In Thousands of Dollars) 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due and Nonaccrual Total Past Due Loans Not Past Due Total December 31, 2017 Originated loans: Commercial real estate Owner occupied $ 4 $ 340 $ 501 $ 845 $ 139,081 $ 139,926 Non-owner occupied 0 0 0 0 198,588 198,588 Farmland 0 0 45 45 70,398 70,443 Other 0 0 0 0 88,703 88,703 Commercial Commercial and industrial 292 3 249 544 192,335 192,879 Agricultural 74 0 2 76 32,605 32,681 Residential real estate 1-4 family residential 2,044 403 3,046 5,493 266,338 271,831 Home equity lines of credit 155 18 610 783 70,754 71,537 Consumer Indirect 2,429 829 818 4,076 156,772 160,848 Direct 632 250 216 1,098 27,608 28,706 Other 115 11 14 140 8,736 8,876 Total originated loans $ 5,745 $ 1,854 $ 5,501 $ 13,100 $ 1,251,918 $ 1,265,018 Acquired loans: Commercial real estate Owner occupied $ 0 $ 0 $ 0 $ 0 $ 53,051 $ 53,051 Non-owner occupied 0 0 216 216 20,042 20,258 Farmland 454 0 0 454 47,301 47,755 Other 0 0 0 0 11,976 11,976 Commercial Commercial and industrial 327 96 962 1,385 25,709 27,094 Agricultural 87 0 9 96 12,111 12,207 Residential real estate 1-4 family residential 858 77 682 1,617 95,144 96,761 Home equity lines of credit 161 0 170 331 28,424 28,755 Consumer Direct 380 151 155 686 13,692 14,378 Other 0 1 0 1 127 128 Total acquired loans $ 2,267 $ 325 $ 2,194 $ 4,786 $ 307,577 $ 312,363 Total loans $ 8,012 $ 2,179 $ 7,695 $ 17,886 $ 1,559,495 $ 1,577,381 |
Troubled Debt Restructurings (T
Troubled Debt Restructurings (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Loans By Class Modified as Troubled Debt Restructurings | The following table presents loans by class modified as troubled debt restructurings that occurred during the three and nine month periods ended September 30, 2018 and 2017: Pre-Modification Post-Modification Three Months Ended September 30, 2018 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Commercial 1 $ 19 $ 19 Residential real estate 1-4 family residential 2 87 87 Home equity lines of credit 2 34 34 Consumer Indirect 3 8 8 Other 2 19 19 Total originated loans 10 $ 167 $ 167 Acquired loans: Residential real estate 1-4 family residential 1 53 53 Consumer Other 1 3 3 Total acquired loans 2 $ 56 $ 56 Total loans 12 $ 223 $ 223 Pre-Modification Post-Modification Nine Months Ended September 30, 2018 Number of Outstanding Recorded Outstanding Recorded (In Thousands of Dollars) Loans Investment Investment Originated loans: Commercial real estate Owner occupied 1 $ 360 $ 360 Commercial 1 19 19 Residential real estate 1-4 family residential 6 341 341 Home equity lines of credit 4 48 48 Consumer Indirect 17 97 97 Other 2 19 19 Total originated loans 31 $ 884 $ 884 Acquired loans: Commercial real estate Non-owner occupied 1 42 42 Farmland 1 258 258 Commercial Commercial and industrial 2 31 31 Residential real estate 1-4 family residential 6 242 242 Consumer Other 1 3 3 Total acquired loans 11 $ 576 $ 576 Total loans 42 $ 1,460 $ 1,460 Pre-Modification Post-Modification Three Months Ended September 30, 2017 Number of Outstanding Recorded Outstanding Recorded (In thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 3 $ 235 $ 235 Home equity lines of credit 1 61 61 Consumer Indirect 8 51 51 Total originated loans 12 $ 347 $ 347 Acquired loans: Consumer Other 1 26 26 Total loans 13 $ 373 $ 373 Pre-Modification Post-Modification Nine Months Ended September 30, 2017 Number of Outstanding Recorded Outstanding Recorded (In Thousands of Dollars) Loans Investment Investment Originated loans: Residential real estate 1-4 family residential 10 $ 535 $ 538 Home equity lines of credit 9 225 225 Consumer Indirect 22 131 131 Total originated loans 41 $ 891 $ 894 Acquired loans: Residential real estate 1-4 family residential 2 24 24 Home equity lines of credit 1 57 57 Consumer Indirect 2 55 55 Total acquired loans 5 $ 136 $ 136 Total loans 46 $ 1,027 $ 1,030 |
Credit Quality Indicators (Tabl
Credit Quality Indicators (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Risks And Uncertainties [Abstract] | |
Risk Category of Loans by Class of Loans | As of September 30, 2018 and December 31, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (In Thousands of Dollars) Pass Special Mention Sub standard Total September 30, 2018 Originated loans: Commercial real estate Owner occupied $ 150,728 $ 971 $ 1,015 $ 152,714 Non-owner occupied 239,817 377 110 240,304 Farmland 94,808 0 74 94,882 Other 91,417 0 256 91,673 Commercial Commercial and industrial 206,823 3,464 2,879 213,166 Agricultural 33,361 13 672 34,046 Total originated loans $ 816,954 $ 4,825 $ 5,006 $ 826,785 Acquired loans: Commercial real estate Owner occupied $ 46,279 $ 443 $ 778 $ 47,500 Non-owner occupied 17,832 60 229 18,121 Farmland 38,041 449 3,766 42,256 Other 10,060 0 662 10,722 Commercial Commercial and industrial 17,910 195 1,529 19,634 Agricultural 9,905 346 597 10,848 Total acquired loans $ 140,027 $ 1,493 $ 7,561 $ 149,081 Total loans $ 956,981 $ 6,318 $ 12,567 $ 975,866 (In Thousands of Dollars) Pass Special Mention Sub standard Total December 31, 2017 Originated loans: Commercial real estate Owner occupied $ 137,913 $ 442 $ 1,571 $ 139,926 Non-owner occupied 198,043 419 126 198,588 Farmland 70,354 44 45 70,443 Other 88,421 36 246 88,703 Commercial Commercial and industrial 184,444 5,326 3,109 192,879 Agricultural 32,291 192 198 32,681 Total originated loans $ 711,466 $ 6,459 $ 5,295 $ 723,220 Acquired loans: Commercial real estate Owner occupied $ 51,133 $ 466 $ 1,452 $ 53,051 Non-owner occupied 19,823 63 372 20,258 Farmland 43,694 3,304 757 47,755 Other 11,299 567 110 11,976 Commercial Commercial and industrial 25,286 2 1,806 27,094 Agricultural 11,200 554 453 12,207 Total acquired loans $ 162,435 $ 4,956 $ 4,950 $ 172,341 Total loans $ 873,901 $ 11,415 $ 10,245 $ 895,561 |
Investment in Residential, Consumer and Indirect Auto Loans Based on Payment Activity | The following tables present the recorded investment in residential, consumer indirect and direct auto loans based on payment activity as of September 30, 2018 and December 31, 2017. Nonperforming loans are loans past due 90 days or more and still accruing interest and nonaccrual loans. Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other September 30, 2018 Originated loans: Performing $ 298,725 $ 77,312 $ 173,542 $ 30,678 $ 10,871 Nonperforming 3,889 793 572 170 3 Total originated loans $ 302,614 $ 78,105 $ 174,114 $ 30,848 $ 10,874 Acquired loans: Performing $ 82,164 $ 24,866 $ 0 $ 10,326 $ 157 Nonperforming 1,102 299 0 197 0 Total acquired loans 83,266 25,165 0 10,523 157 Total loans $ 385,880 $ 103,270 $ 174,114 $ 41,371 $ 11,031 Residential Real Estate Consumer (In Thousands of Dollars) 1-4 Family Residential Home Equity Lines of Credit Indirect Direct Other December 31, 2017 Originated loans: Performing $ 268,785 $ 70,927 $ 160,030 $ 28,490 $ 8,862 Nonperforming 3,046 610 818 216 14 Total originated loans $ 271,831 $ 71,537 $ 160,848 $ 28,706 $ 8,876 Acquired loans: Performing $ 96,079 $ 28,585 $ 0 $ 14,223 $ 128 Nonperforming 682 170 0 155 0 Total acquired loans 96,761 28,755 0 14,378 128 Total loans $ 368,592 $ 100,292 $ 160,848 $ 43,084 $ 9,004 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Summary of Noninterest Income by Revenue Stream and Reportable Segment, Net of Eliminations | All material revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following table presents the Company’s noninterest income by revenue stream and reportable segment, net of eliminations, for the three and nine months ended September 30, 2018 and 2017. Items outside the scope of ASC 606 are noted as such. (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Three Months Ended September 30, 2018 Service charges on deposit accounts $ 0 $ 1,151 $ 0 $ 1,151 Debit card and EFT fees 0 814 0 814 Trust fees 1,827 0 0 1,827 Insurance agency commissions 0 567 0 567 Retirement plan consulting fees 0 0 470 470 Investment commissions 0 273 0 273 Other 0 1,376 0 1,376 Total noninterest income $ 1,827 $ 4,181 $ 470 $ 6,478 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Three Months Ended September 30, 2017 Service charges on deposit accounts $ 0 $ 1,077 $ 0 $ 1,077 Debit card and EFT fees 0 770 0 770 Trust fees 1,608 0 0 1,608 Insurance agency commissions 0 531 0 531 Retirement plan consulting fees 0 0 480 480 Investment commissions 0 184 0 184 Other 0 1,408 0 1,408 Total noninterest income $ 1,608 $ 3,970 $ 480 $ 6,058 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Nine Months Ended September 30, 2018 Service charges on deposit accounts $ 0 $ 3,139 $ 0 $ 3,139 Debit card and EFT fees 0 2,490 0 2,490 Trust fees 5,374 0 0 5,374 Insurance agency commissions 0 1,979 0 1,979 Retirement plan consulting fees 0 0 1,314 1,314 Investment commissions 0 844 0 844 Other 0 3,654 0 3,654 Total noninterest income $ 5,374 $ 12,106 $ 1,314 $ 18,794 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Totals For Nine Months Ended September 30, 2017 Service charges on deposit accounts $ 0 $ 3,017 $ 0 $ 3,017 Debit card and EFT fees 0 2,259 0 2,259 Trust fees 4,809 0 0 4,809 Insurance agency commissions 0 1,877 0 1,877 Retirement plan consulting fees 0 0 1,392 1,392 Investment commissions 0 659 0 659 Other 0 3,987 0 3,987 Total noninterest income $ 4,809 $ 11,799 $ 1,392 $ 18,000 |
Interest-Rate Swaps (Tables)
Interest-Rate Swaps (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary Information about Interest-Rate Swaps | Summary information about these interest-rate swaps at periods ended September 30, 2018 and December 31, 2017 is as follows: September 30, 2018 December 31, 2017 Notional amounts (In thousands) $ 36,838 $ 38,481 Weighted average pay rate on interest-rate swaps 4.51 % 4.46 % Weighted average receive rate on interest-rate swaps 4.49 % 3.81 % Weighted average maturity (years) 4.5 3.2 Fair value of interest-rate swaps $ (1,167 ) $ (653 ) Fair value of loan yield maintenance provisions $ 1,167 $ 653 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The computation of basic and diluted earnings per share is shown in the following table: Three Months Ended Sept. 30, Nine Months Ended Sept. 30, 2018 2017 2018 2017 Basic EPS Net income (In thousands) $ 8,084 $ 5,983 $ 23,883 $ 17,476 Weighted average shares outstanding 27,695,105 27,654,020 27,638,721 27,436,931 Basic earnings per share $ 0.29 $ 0.22 $ 0.86 $ 0.64 Diluted EPS Net income (In thousands) $ 8,084 $ 5,983 $ 23,883 $ 17,476 Weighted average shares outstanding for basic earnings per share 27,695,105 27,654,020 27,638,721 27,436,931 Dilutive effect of restricted stock awards 306,863 43,890 305,410 55,454 Weighted average shares for diluted earnings per share 28,001,968 27,697,910 27,944,131 27,492,385 Diluted earnings per share $ 0.29 $ 0.22 $ 0.85 $ 0.64 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Award Activity under Plans | The following is the activity under the Plans during the nine month period ended September 30, 2018. Nine Months Ended September 30, 2018 Maximum Awarded Service Units Weighted Average Grant Fair Value Maximum Awarded Performance Units Weighted Average Grant Fair Value Beginning balance - non-vested shares 323,331 $ 9.20 266,515 $ 9.43 Granted 22,729 14.68 62,919 14.31 Vested (241,105 ) 7.99 (63,873 ) 7.76 Forfeited 0 0.00 (61,733 ) 7.76 Ending balance - non-vested shares 104,955 $ 13.16 203,828 $ 11.96 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Comprehensive Income Net Of Tax [Abstract] | |
Schedule of Other Comprehensive Income (Loss) | The following table represents the details of other comprehensive income for the three and nine month periods ended September 30, 2018 and 2017. Three Months Ended September 30, 2018 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ (4,929 ) $ 1,036 $ (3,893 ) Reclassification adjustment for (gains) losses included in net income (1) 27 (6 ) 21 Net other comprehensive income (loss) $ (4,902 ) $ 1,030 $ (3,872 ) Three Months Ended September 30, 2017 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ (679 ) $ 239 $ (440 ) Reclassification adjustment for losses included in net income (1) 0 0 0 Net other comprehensive income (loss) $ (679 ) $ 239 $ (440 ) Nine Months Ended September 30, 2018 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ (14,057 ) $ 2,940 $ (11,117 ) Reclassification adjustment for (gains) losses included in net income (1) 24 (5 ) 19 Net other comprehensive income (loss) $ (14,033 ) $ 2,935 $ (11,098 ) Nine Months Ended September 30, 2017 (In Thousands of Dollars) Pre-tax Tax After-Tax Unrealized holding gains (losses) on available-for-sale securities during the period $ 5,642 $ (1,975 ) $ 3,667 Reclassification adjustment for (gains) losses included in net income (1) 1 (1 ) 0 Net other comprehensive income (loss) $ 5,643 $ (1,976 ) $ 3,667 (1) Pre-tax reclassification adjustments relating to available-for-sale securities are reported in security gains and the tax impact is included in income tax expense on the consolidated statements of income. |
Regulatory Capital Matters (Tab
Regulatory Capital Matters (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Regulatory Capital Requirements [Abstract] | |
Schedule of Actual and Required Capital Amounts and Ratios | Actual and required capital amounts and ratios are presented below at September 30, 2018 and December 31, 2017: Actual Requirement For Capital Adequacy Purposes: To be Well Capitalized Under Prompt Corrective Action Provisions: Amount Ratio Amount Ratio Amount Ratio September 30, 2018 Common equity tier 1 capital ratio Consolidated $ 216,942 12.13 % $ 80,479 4.5 % N/A N/A Bank 201,312 11.29 % 80,215 4.5 % $ 115,866 6.5 % Total risk based capital ratio Consolidated 232,565 13.00 % 143,073 8.0 % N/A N/A Bank 214,689 12.04 % 142,604 8.0 % 178,255 10.0 % Tier I risk based capital ratio Consolidated 219,188 12.26 % 107,305 6.0 % N/A N/A Bank 201,312 11.29 % 106,953 6.0 % 142,604 8.0 % Tier I leverage ratio Consolidated 219,188 9.87 % 88,800 4.0 % N/A N/A Bank 201,312 9.13 % 88,234 4.0 % 110,293 5.0 % December 31, 2017 Common equity tier 1 capital ratio Consolidated $ 199,201 11.86 % $ 75,573 4.5 % N/A N/A Bank 192,080 11.45 % 75,462 4.5 % $ 109,001 6.5 % Total risk based capital ratio Consolidated 213,725 12.73 % 134,352 8.0 % N/A N/A Bank 204,395 12.19 % 134,155 8.0 % 167,694 10.0 % Tier I risk based capital ratio Consolidated 201,410 11.99 % 100,764 6.0 % N/A N/A Bank 192,080 11.45 % 100,616 6.0 % 134,155 8.0 % Tier I leverage ratio Consolidated 201,410 9.50 % 84,800 4.0 % N/A N/A Bank 192,080 9.12 % 84,253 4.0 % 105,316 5.0 % |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurements at September 30, 2018 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Investment securities available-for sale U.S. Treasury and U.S. government sponsored entities $ 6,383 $ 0 $ 6,383 $ 0 State and political subdivisions 201,275 0 201,275 0 Corporate bonds 1,183 0 1,183 0 Mortgage-backed securities-residential 147,427 0 147,421 6 Collateralized mortgage obligations 21,301 0 21,301 0 Small Business Administration 12,427 0 12,427 0 Equity securities 427 427 0 0 Other investments measured at net asset value 6,465 n/a n/a n/a Total investment securities $ 396,888 $ 427 $ 389,990 $ 6 Loan yield maintenance provisions $ 1,167 $ 0 $ 1,167 $ 0 Financial Liabilities Interest rate swaps $ 1,167 $ 0 $ 1,167 $ 0 Fair Value Measurements at December 31, 2017 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Investment securities available-for sale U.S. Treasury and U.S. government sponsored entities $ 8,917 $ 0 $ 8,917 $ 0 State and political subdivisions 191,003 0 191,003 0 Corporate bonds 1,234 0 1,234 0 Mortgage-backed securities-residential 160,450 0 160,442 8 Collateralized mortgage obligations 17,121 0 17,121 0 Small Business Administration 14,212 0 14,212 0 Equity securities 394 394 0 0 Other investments measured at net asset value 5,185 n/a n/a n/a Total investment securities $ 398,516 $ 394 $ 392,929 $ 8 Loan yield maintenance provisions $ 653 $ 0 $ 653 $ 0 Financial Liabilities Interest rate swaps $ 653 $ 0 $ 653 $ 0 |
Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs | The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Investment Securities Available-for-sale (Level 3) Three Months ended September 30, Nine Months ended September 30, (In Thousands of Dollars) 2018 2017 2018 2017 Beginning Balance $ 7 $ 10 $ 8 $ 12 Transfers from level 2 0 0 0 0 Repayments, calls and maturities (1 ) (1 ) (2 ) (3 ) Ending Balance $ 6 $ 9 $ 6 $ 9 |
Assets Measured at Fair Value on Non-Recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at September 30, 2018 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Impaired loans Commercial real estate Farmland $ 251 $ 0 $ 0 $ 251 Commercial Commercial and industrial 10 0 0 10 1–4 family residential 1,346 0 0 1,346 Consumer 15 0 0 15 Fair Value Measurements at December 31, 2017 Using: (In Thousands of Dollars) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets 1–4 family residential $ 740 $ 0 $ 0 $ 740 Consumer 2 0 0 2 |
Fair Value Measurements for Financial Instruments | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the periods ended September 30, 2018 and December 31, 2017: September 30, 2018 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Commercial real estate $ 251 Sales Comparison Adjustment for differences between comparable sales (22.70%) - 16.16% 9.39% Commercial 10 Sales Comparison Adjustment for differences between comparable sales (18.61%) - 28.25% (7.66%) Residential 1,346 Sales comparison Adjustment for differences between comparable sales (15.76%) - 27.92% 3.03% Consumer 15 Sales comparison Adjustment for differences between comparable sales (12.04%) - 12.04% 0.00% December 31, 2017 Fair value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans Residential $ 740 Sales comparison Adjustment for differences between comparable sales (15.67%) - 27.92% 0.53% Consumer 2 Sales comparison Adjustment for differences between comparable sales (21.98%) - 21.98% (0.00%) |
Carrying Amounts and Estimated Fair Values of Financial Instruments | The carrying amounts and estimated fair values of financial instruments not previously disclosed at September 30, 2018 and December 31, 2017 are as follows: Fair Value Measurements at September 30, 2018 Using: (In Thousands of Dollars) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 75,635 $ 19,652 $ 55,983 $ 0 $ 75,635 Restricted stock 11,647 n/a n/a n/a n/a Loans held for sale 1,428 0 1,471 0 1,471 Loans, net 1,678,155 0 0 1,630,224 1,630,224 Accrued interest receivable 7,377 0 2,321 5,056 7,377 Financial liabilities Deposits 1,758,711 1,451,980 299,623 0 1,751,603 Short-term borrowings 264,059 0 264,059 0 264,059 Long-term borrowings 6,214 0 5,968 0 5,968 Accrued interest payable 898 69 829 0 898 Fair Value Measurements at December 31, 2017 Using: (In Thousands of Dollars) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 57,614 $ 17,785 $ 39,829 $ 0 $ 57,614 Restricted stock 10,491 n/a n/a n/a n/a Loans held for sale 272 0 283 0 283 Loans, net 1,565,066 0 0 1,569,381 1,569,381 Accrued interest receivable 6,669 0 2,255 4,414 6,669 Financial liabilities Deposits 1,604,719 1,340,814 259,346 0 1,600,160 Short-term borrowings 289,565 0 289,565 0 289,565 Long-term borrowings 6,994 0 6,690 0 6,690 Accrued interest payable 633 46 587 0 633 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information | Significant segment totals are reconciled to the financial statements as follows: (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals September 30, 2018 Goodwill and other intangibles $ 4,256 $ 38,364 $ 2,507 $ (822 ) $ 44,305 Total assets $ 11,034 $ 2,273,904 $ 3,079 $ 4,661 $ 2,292,678 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals December 31, 2017 Goodwill and other intangibles $ 4,426 $ 39,120 $ 2,645 $ (822 ) $ 45,369 Total assets $ 11,261 $ 2,140,508 $ 3,365 $ 3,935 $ 2,159,069 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended September 30, 2018 Net interest income $ 39 $ 19,906 $ 0 $ (26 ) $ 19,919 Provision for loan losses 0 950 0 0 950 Service fees, security gains and other noninterest income 1,862 4,235 470 (89 ) 6,478 Noninterest expense 1,208 13,611 344 276 15,439 Amortization and depreciation expense 62 617 49 13 741 Income before taxes 631 8,963 77 (404 ) 9,267 Income taxes 132 1,136 16 (101 ) 1,183 Net income $ 499 $ 7,827 $ 61 $ (303 ) $ 8,084 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Nine Months Ended September 30, 2018 Net interest income $ 104 $ 58,390 $ 0 $ (67 ) $ 58,427 Provision for loan losses 0 2,475 0 0 2,475 Service fees, security gains and other noninterest income 5,484 12,210 1,314 (214 ) 18,794 Noninterest expense 3,640 39,047 1,045 761 44,493 Amortization and depreciation expense 187 1,866 150 38 2,241 Income before taxes 1,761 27,212 119 (1,080 ) 28,012 Income taxes 370 4,080 25 (346 ) 4,129 Net income $ 1,391 $ 23,132 $ 94 $ (734 ) $ 23,883 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Three Months Ended September 30, 2017 Net interest income $ 29 $ 18,667 $ 0 $ (21 ) $ 18,675 Provision for loan losses 0 950 0 0 950 Service fees, security gains and other noninterest income 1,638 3,974 480 (34 ) 6,058 Noninterest expense 1,154 13,110 343 319 14,926 Amortization and depreciation expense 69 718 65 13 865 Income before taxes 444 7,863 72 (387 ) 7,992 Income taxes 156 2,031 25 (203 ) 2,009 Net income $ 288 $ 5,832 $ 47 $ (184 ) $ 5,983 (In Thousands of Dollars) Trust Segment Bank Segment Retirement Consulting Segment Eliminations and Others Consolidated Totals For Nine Months Ended September 30, 2017 Net interest income $ 81 $ 54,562 $ 0 $ (64 ) $ 54,579 Provision for loan losses 0 2,950 0 0 2,950 Service fees, security gains and other noninterest income 4,895 11,895 1,392 (182 ) 18,000 Noninterest expense 3,619 38,304 1,082 531 43,536 Amortization and depreciation expense 208 2,196 191 37 2,632 Income before taxes 1,149 23,007 119 (814 ) 23,461 Income taxes 402 6,068 42 (527 ) 5,985 Net income $ 747 $ 16,939 $ 77 $ (287 ) $ 17,476 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Acquired Intangible Assets | Acquired intangible assets were as follows: September 30, 2018 December 31, 2017 (In Thousands of Dollars) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets: Customer relationship intangibles $ 7,210 $ (5,341 ) $ 7,210 $ (4,919 ) Non-compete contracts 430 (379 ) 430 (376 ) Trade name 520 (216 ) 520 (175 ) Core deposit intangible 6,254 (2,374 ) 6,254 (1,776 ) Total $ 14,414 $ (8,310 ) $ 14,414 $ (7,246 ) |
Estimated Amortization Expense | Estimated amortization expense for each of the next five periods and thereafter: 2018 (Three months) $ 353 2019 1,306 2020 1,203 2021 1,142 2022 1,025 Thereafter 1,075 TOTAL $ 6,104 |
Short-term Borrowings (Tables)
Short-term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Schedule Disaggregation of the Obligation by the Class of Collateral Pledged for Short-Term Financing Obtained Through the Sales of Repurchase Agreements | The following table provides a disaggregation of the obligation by the class of collateral pledged for short-term financing obtained through the sales of repurchase agreements: (In Thousands of Dollars) September 30, 2018 December 31, 2017 Overnight and continuous repurchase agreements U.S. Treasury and U.S. government sponsored entities $ 574 $ 5,051 State and political subdivisions 2,934 21,731 Mortgage-backed securities - residential 5,102 46,133 Collateralized mortgage obligations - residential 534 5,011 Total repurchase agreements $ 9,144 $ 77,926 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 9 Months Ended | ||||
Sep. 30, 2018USD ($)Segmentshares | Apr. 30, 2018shares | Mar. 31, 2018shares | Jan. 01, 2018USD ($) | Dec. 31, 2017shares | |
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | |||||
Operating segments of business | Segment | 3 | ||||
Common stock, authorized shares available for issuance | shares | 50,000,000 | 50,000,000 | 35,000,000 | 35,000,000 | |
Common stock, shares outstanding | shares | 27,777,161 | ||||
ASU 2016-02 | |||||
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | |||||
Capitalization of leases as an asset | $ | $ 2,900 | ||||
ASU 2016-01 | |||||
Summary of Significant Accounting Policies (Additional Textual) [Abstract] | |||||
Cumulative effect adjustment upon adoption of new accounting principle | $ | $ 169 |
Business Combinations (Details
Business Combinations (Details Textual) - USD ($) | Jun. 30, 2018 | Aug. 15, 2017 | Jul. 31, 2017 | Jun. 01, 2016 | Aug. 11, 2017 | Sep. 30, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | |||||||
Goodwill | $ 38,201,000 | $ 38,201,000 | |||||
Monitor Bancorp, Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Effective Date of Acquisition | Aug. 15, 2017 | ||||||
Shares of stock issued for acquisition | 465,787 | ||||||
Fair value of total consideration transferred | $ 7,512,000 | ||||||
Maximum shares exchanged for stock | 85.00% | ||||||
Maximum shares exchanged for cash | 15.00% | ||||||
Cash consideration per share | $ 769.38 | ||||||
Multiplier used to calculate per share cash consideration | 1.25 | ||||||
Period of trading days considered for volume weighted average closing price | 20 days | ||||||
Volume weighted average closing price per share of common shares | $ 14.04 | ||||||
Final stock exchange ratio | 54.80 | ||||||
Goodwill | $ 1,037,000 | ||||||
Monitor Bancorp, Inc. | Core Deposits | |||||||
Business Acquisition [Line Items] | |||||||
Fair value of other intangible assets | $ 673,000 | ||||||
Bowers Insurance Agency, Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Effective Date of Acquisition | Jun. 1, 2016 | ||||||
Shares of stock issued for acquisition | 123,280 | ||||||
Fair value of total consideration transferred | $ 3,155,000 | ||||||
Goodwill | 1,849,000 | ||||||
Fair value of other intangible assets | 1,630,000 | ||||||
Contingent future payments | 1,200,000 | ||||||
Contingent consideration | $ 316,000 | $ 880,000 | |||||
Contingent consideration future payment liability | 200,000 | ||||||
Reduction to acquisition related costs | $ 364,000 | ||||||
Bowers Insurance Agency, Inc. | Earnout Payment | |||||||
Business Acquisition [Line Items] | |||||||
Contingent consideration | $ 0 | $ 564,000 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) $ in Thousands | Aug. 15, 2017 | Sep. 30, 2018 | Dec. 31, 2017 |
Fair value of liabilities assumed | |||
Goodwill created | $ 38,201 | $ 38,201 | |
Monitor Bancorp, Inc. | |||
Consideration | |||
Cash | $ 1,154 | ||
Stock | 6,358 | ||
Fair value of total consideration transferred | 7,512 | ||
Fair value of assets acquired | |||
Cash and due from financial institutions | 17,673 | ||
Securities available for sale | 3,057 | ||
Loans, net | 19,315 | ||
Premises and equipment | 192 | ||
Core deposit intangible | 673 | ||
Other assets | 272 | ||
Total assets | 41,182 | ||
Fair value of liabilities assumed | |||
Deposits | 34,586 | ||
Accrued interest payable and other liabilities | 121 | ||
Total liabilities | 34,707 | ||
Net assets acquired | 6,475 | ||
Goodwill created | 1,037 | ||
Total net assets acquired | $ 7,512 |
Business Combinations (Detail_2
Business Combinations (Details 1) - USD ($) $ in Thousands | Jul. 31, 2017 | Jun. 01, 2016 | Sep. 30, 2018 | Dec. 31, 2017 |
Assets and liabilities arising from acquisition | ||||
Goodwill created | $ 38,201 | $ 38,201 | ||
Bowers Insurance Agency, Inc. | ||||
Consideration | ||||
Cash | $ 1,137 | |||
Stock | 1,138 | |||
Contingent consideration | $ 316 | 880 | ||
Fair value of total consideration transferred | 3,155 | |||
Fair value of assets acquired | ||||
Cash | 64 | |||
Premises and equipment | 290 | |||
Other assets | 34 | |||
Total assets acquired | 388 | |||
Fair value of liabilities assumed | 124 | |||
Net assets acquired | 264 | |||
Assets and liabilities arising from acquisition | ||||
Identified intangible assets | 1,630 | |||
Deferred tax liability | (588) | |||
Goodwill created | 1,849 | |||
Total net assets acquired | $ 3,155 |
Business Combinations (Detail_3
Business Combinations (Details 2) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Business Combinations [Abstract] | ||
Net interest income | $ 18,841 | $ 55,408 |
Net income | $ 6,016 | $ 17,641 |
Basic and diluted earnings per share | $ 0.22 | $ 0.64 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | $ 403,489 | $ 392,397 |
Gross Unrealized Gains | 726 | 4,037 |
Gross Unrealized Losses | (14,219) | (3,497) |
Fair Value | 389,996 | 392,937 |
Corporate bonds | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 1,207 | 1,238 |
Gross Unrealized Gains | 0 | 4 |
Gross Unrealized Losses | (24) | (8) |
Fair Value | 1,183 | 1,234 |
Small Business Administration | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 13,145 | 14,608 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (718) | (396) |
Fair Value | 12,427 | 14,212 |
U.S. Treasury and U.S. government sponsored entities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 6,561 | 8,986 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (178) | (69) |
Fair Value | 6,383 | 8,917 |
State and political subdivisions | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 205,352 | 188,032 |
Gross Unrealized Gains | 707 | 3,614 |
Gross Unrealized Losses | (4,784) | (643) |
Fair Value | 201,275 | 191,003 |
Mortgage-backed securities - residential | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 154,726 | 161,635 |
Gross Unrealized Gains | 19 | 419 |
Gross Unrealized Losses | (7,318) | (1,604) |
Fair Value | 147,427 | 160,450 |
Collateralized mortgage obligations - residential | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 22,498 | 17,898 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (1,197) | (777) |
Fair Value | $ 21,301 | $ 17,121 |
Securities (Details Textual)
Securities (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)Securities | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)Securities | Sep. 30, 2017USD ($) | |
Schedule Of Available For Sale Securities [Line Items] | ||||
Proceeds from sales of securities available for sale | $ 4,500 | $ 0 | $ 7,065 | $ 54,493 |
Gross gains realized | 1 | 0 | 7 | 730 |
Gross Losses realized | $ 28 | $ 0 | $ 31 | $ 731 |
Number of securities | Securities | 582 | 582 | ||
Number of securities on unrealized loss position | Securities | 386 | 386 | ||
ASU 2016-01 | Equity securities | ||||
Schedule Of Available For Sale Securities [Line Items] | ||||
Unrealized gains recognized in income statement for securities | $ 35 | |||
Unrealized losses recognized in income statement for securities | $ 7 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Amortized cost and fair value of the debt securities maturity | ||
Amortized Cost, Within one year | $ 10,619 | |
Amortized Cost, One to five years | 41,968 | |
Amortized Cost, Five to ten years | 140,200 | |
Amortized Cost, Beyond ten years | 20,333 | |
Amortized Cost, Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities | 190,369 | |
Amortized Cost, Total | 403,489 | |
Fair Value, Within one year | 10,621 | |
Fair Value, One to five years | 41,478 | |
Fair Value, Five to ten years | 137,491 | |
Fair Value, Beyond ten years | 19,251 | |
Fair Value, Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities | 181,155 | |
Fair Value, Total | $ 389,996 | $ 392,937 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Available for sale investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | $ 180,874 | $ 79,328 |
Unrealized Losses, Less Than 12 Months | (5,733) | (679) |
Fair Value, 12 Months or Longer | 134,887 | 111,378 |
Unrealized Losses, 12 Months or Longer | (8,486) | (2,818) |
Fair Value, Total | 315,761 | 190,706 |
Unrealized Losses, Total | (14,219) | (3,497) |
Corporate bonds | ||
Available for sale investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 614 | 397 |
Unrealized Losses, Less Than 12 Months | (8) | (3) |
Fair Value, 12 Months or Longer | 568 | 383 |
Unrealized Losses, 12 Months or Longer | (16) | (5) |
Fair Value, Total | 1,182 | 780 |
Unrealized Losses, Total | (24) | (8) |
Small Business Administration | ||
Available for sale investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 4 | 0 |
Unrealized Losses, Less Than 12 Months | 0 | 0 |
Fair Value, 12 Months or Longer | 12,412 | 14,182 |
Unrealized Losses, 12 Months or Longer | (718) | (396) |
Fair Value, Total | 12,416 | 14,182 |
Unrealized Losses, Total | (718) | (396) |
U.S. Treasury and U.S. government sponsored entities | ||
Available for sale investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 1,574 | 3,970 |
Unrealized Losses, Less Than 12 Months | (18) | (34) |
Fair Value, 12 Months or Longer | 4,809 | 1,912 |
Unrealized Losses, 12 Months or Longer | (160) | (35) |
Fair Value, Total | 6,383 | 5,882 |
Unrealized Losses, Total | (178) | (69) |
State and political subdivisions | ||
Available for sale investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 99,196 | 33,188 |
Unrealized Losses, Less Than 12 Months | (2,979) | (220) |
Fair Value, 12 Months or Longer | 30,670 | 25,721 |
Unrealized Losses, 12 Months or Longer | (1,805) | (423) |
Fair Value, Total | 129,866 | 58,909 |
Unrealized Losses, Total | (4,784) | (643) |
Mortgage-backed securities - residential | ||
Available for sale investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 74,571 | 40,072 |
Unrealized Losses, Less Than 12 Months | (2,625) | (400) |
Fair Value, 12 Months or Longer | 72,043 | 53,760 |
Unrealized Losses, 12 Months or Longer | (4,693) | (1,204) |
Fair Value, Total | 146,614 | 93,832 |
Unrealized Losses, Total | (7,318) | (1,604) |
Collateralized mortgage obligations - residential | ||
Available for sale investment securities with unrealized losses | ||
Fair Value, Less Than 12 Months | 4,915 | 1,701 |
Unrealized Losses, Less Than 12 Months | (103) | (22) |
Fair Value, 12 Months or Longer | 14,385 | 15,420 |
Unrealized Losses, 12 Months or Longer | (1,094) | (755) |
Fair Value, Total | 19,300 | 17,121 |
Unrealized Losses, Total | $ (1,197) | $ (777) |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of loan balances | ||||||
Total loans | $ 1,678,155 | $ 1,565,066 | ||||
Allowance for loan losses | (13,377) | $ (12,764) | (12,315) | $ (12,104) | $ (11,746) | $ (10,852) |
Commercial real estate | ||||||
Schedule of loan balances | ||||||
Allowance for loan losses | (4,740) | (4,339) | (4,260) | (4,219) | (3,954) | (3,577) |
Commercial | ||||||
Schedule of loan balances | ||||||
Allowance for loan losses | (2,007) | (1,937) | (2,011) | (2,015) | (1,936) | (1,874) |
Residential real estate | ||||||
Schedule of loan balances | ||||||
Allowance for loan losses | (2,820) | (2,651) | (2,521) | (2,333) | (2,310) | (2,205) |
Consumer | ||||||
Schedule of loan balances | ||||||
Allowance for loan losses | (3,035) | $ (3,050) | (2,848) | $ (2,907) | $ (2,927) | $ (2,766) |
Originated Loans | ||||||
Schedule of loan balances | ||||||
Total loans | 1,419,970 | 1,262,167 | ||||
Originated Loans | Commercial real estate, Owner occupied | Commercial real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 153,088 | 140,321 | ||||
Originated Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 240,871 | 199,080 | ||||
Originated Loans | Commercial real estate, Farmland | Commercial real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 94,987 | 70,534 | ||||
Originated Loans | Commercial real estate, Other | Commercial real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 91,962 | 89,025 | ||||
Originated Loans | Commercial, Commercial and industrial | Commercial | ||||||
Schedule of loan balances | ||||||
Loan balances | 213,552 | 193,347 | ||||
Originated Loans | Residential real estate, 1-4 family residential | Residential real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 303,337 | 272,421 | ||||
Originated Loans | Commercial, Agricultural | Commercial | ||||||
Schedule of loan balances | ||||||
Loan balances | 33,946 | 32,587 | ||||
Originated Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 78,082 | 71,507 | ||||
Originated Loans | Consumer, Indirect | Consumer | ||||||
Schedule of loan balances | ||||||
Loan balances | 168,643 | 155,950 | ||||
Originated Loans | Consumer, Direct | Consumer | ||||||
Schedule of loan balances | ||||||
Loan balances | 30,628 | 28,519 | ||||
Originated Loans | Consumer, Other | Consumer | ||||||
Schedule of loan balances | ||||||
Loan balances | 10,874 | 8,876 | ||||
Acquired Loans | ||||||
Schedule of loan balances | ||||||
Total loans | 268,205 | 312,355 | ||||
Net Deferred loan costs | 3,357 | 2,859 | ||||
Allowance for loan losses | (13,377) | (12,315) | ||||
Acquired Loans | Commercial real estate, Owner occupied | Commercial real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 47,438 | 53,031 | ||||
Acquired Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 18,190 | 20,286 | ||||
Acquired Loans | Commercial real estate, Farmland | Commercial real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 42,257 | 47,754 | ||||
Acquired Loans | Commercial real estate, Other | Commercial real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 10,723 | 11,964 | ||||
Acquired Loans | Commercial, Commercial and industrial | Commercial | ||||||
Schedule of loan balances | ||||||
Loan balances | 19,636 | 27,094 | ||||
Acquired Loans | Residential real estate, 1-4 family residential | Residential real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 83,268 | 96,759 | ||||
Acquired Loans | Commercial, Agricultural | Commercial | ||||||
Schedule of loan balances | ||||||
Loan balances | 10,848 | 12,206 | ||||
Acquired Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||||||
Schedule of loan balances | ||||||
Loan balances | 25,165 | 28,755 | ||||
Acquired Loans | Consumer, Direct | Consumer | ||||||
Schedule of loan balances | ||||||
Loan balances | 10,523 | 14,378 | ||||
Acquired Loans | Consumer, Other | Consumer | ||||||
Schedule of loan balances | ||||||
Loan balances | $ 157 | $ 128 |
Loans (Details 1)
Loans (Details 1) - National Bancshares Corporation - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Impaired [Line Items] | ||
Total outstanding balance | $ 1,237 | $ 2,129 |
Carrying amount, net of allowance | 898 | 1,733 |
Commercial real estate, Owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Loans acquired with deteriorated credit quality | 0 | 670 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Loans acquired with deteriorated credit quality | 309 | 387 |
Commercial, Commercial and industrial | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Loans acquired with deteriorated credit quality | $ 928 | $ 1,072 |
Loans (Details 1) (Parenthetica
Loans (Details 1) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Receivables Acquired with Deteriorated Credit Quality | National Bancshares Corporation | ||
Financing Receivable Impaired [Line Items] | ||
Acquired with deteriorated credit quality, allowances | $ 0 | $ 0 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Receivables [Abstract] | ||||
Beginning balance | $ 132 | $ 209 | $ 170 | $ 247 |
New loans purchased | 0 | 0 | 0 | 0 |
Accretion of income | (19) | (19) | (57) | (57) |
Ending balance | $ 113 | $ 190 | $ 113 | $ 190 |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Allowance for loan losses | ||||
Beginning balance | $ 12,764 | $ 11,746 | $ 12,315 | $ 10,852 |
Provision for loan losses | 950 | 950 | 2,475 | 2,950 |
Loans charged off | (544) | (809) | (2,103) | (2,477) |
Recoveries | 207 | 217 | 690 | 779 |
Ending balance | 13,377 | 12,104 | 13,377 | 12,104 |
Commercial real estate | ||||
Allowance for loan losses | ||||
Beginning balance | 4,339 | 3,954 | 4,260 | 3,577 |
Provision for loan losses | 380 | 264 | 426 | 706 |
Loans charged off | 0 | 0 | 0 | (207) |
Recoveries | 21 | 1 | 54 | 143 |
Ending balance | 4,740 | 4,219 | 4,740 | 4,219 |
Commercial | ||||
Allowance for loan losses | ||||
Beginning balance | 1,937 | 1,936 | 2,011 | 1,874 |
Provision for loan losses | 96 | 87 | 182 | 302 |
Loans charged off | (32) | (10) | (194) | (225) |
Recoveries | 6 | 2 | 8 | 64 |
Ending balance | 2,007 | 2,015 | 2,007 | 2,015 |
Residential real estate | ||||
Allowance for loan losses | ||||
Beginning balance | 2,651 | 2,310 | 2,521 | 2,205 |
Provision for loan losses | 177 | 36 | 345 | 150 |
Loans charged off | (48) | (74) | (172) | (116) |
Recoveries | 40 | 61 | 126 | 94 |
Ending balance | 2,820 | 2,333 | 2,820 | 2,333 |
Consumer | ||||
Allowance for loan losses | ||||
Beginning balance | 3,050 | 2,927 | 2,848 | 2,766 |
Provision for loan losses | 309 | 552 | 1,422 | 1,592 |
Loans charged off | (464) | (725) | (1,737) | (1,929) |
Recoveries | 140 | 153 | 502 | 478 |
Ending balance | 3,035 | 2,907 | 3,035 | 2,907 |
Unallocated | ||||
Allowance for loan losses | ||||
Beginning balance | 787 | 619 | 675 | 430 |
Provision for loan losses | (12) | 11 | 100 | 200 |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Ending balance | $ 775 | $ 630 | $ 775 | $ 630 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | $ 318 | $ 162 | ||||
Collectively evaluated for impairment | 12,938 | 12,048 | ||||
Acquired loans collectively evaluated for impairment | 121 | 105 | ||||
Total ending allowance balance | 13,377 | $ 12,764 | 12,315 | $ 12,104 | $ 11,746 | $ 10,852 |
Loans: | ||||||
Loans individually evaluated for impairment | 6,554 | 5,536 | ||||
Loans collectively evaluated for impairment | 1,417,801 | 1,259,993 | ||||
Acquired loans | 266,279 | 310,118 | ||||
Acquired with deteriorated credit quality | 975,866 | 895,561 | ||||
Loans | 1,691,532 | 1,577,381 | ||||
Receivables Acquired with Deteriorated Credit Quality | ||||||
Ending allowance balance attributable to loans: | ||||||
Acquired with deteriorated credit quality | 0 | 0 | ||||
Loans: | ||||||
Acquired with deteriorated credit quality | 898 | 1,734 | ||||
Commercial real estate | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 6 | 0 | ||||
Collectively evaluated for impairment | 4,676 | 4,214 | ||||
Acquired loans collectively evaluated for impairment | 58 | 46 | ||||
Total ending allowance balance | 4,740 | 4,339 | 4,260 | 4,219 | 3,954 | 3,577 |
Loans: | ||||||
Loans individually evaluated for impairment | 804 | 658 | ||||
Loans collectively evaluated for impairment | 579,225 | 497,168 | ||||
Acquired loans | 117,907 | 131,926 | ||||
Loans | 698,172 | 630,700 | ||||
Commercial real estate | Receivables Acquired with Deteriorated Credit Quality | ||||||
Ending allowance balance attributable to loans: | ||||||
Acquired with deteriorated credit quality | 0 | 0 | ||||
Loans: | ||||||
Acquired with deteriorated credit quality | 236 | 948 | ||||
Commercial | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 4 | 4 | ||||
Collectively evaluated for impairment | 1,987 | 1,993 | ||||
Acquired loans collectively evaluated for impairment | 16 | 14 | ||||
Total ending allowance balance | 2,007 | 1,937 | 2,011 | 2,015 | 1,936 | 1,874 |
Loans: | ||||||
Loans individually evaluated for impairment | 147 | 260 | ||||
Loans collectively evaluated for impairment | 247,094 | 225,312 | ||||
Acquired loans | 29,791 | 38,503 | ||||
Loans | 277,694 | 264,861 | ||||
Commercial | Receivables Acquired with Deteriorated Credit Quality | ||||||
Ending allowance balance attributable to loans: | ||||||
Acquired with deteriorated credit quality | 0 | 0 | ||||
Loans: | ||||||
Acquired with deteriorated credit quality | 662 | 786 | ||||
Residential real estate | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 308 | 158 | ||||
Collectively evaluated for impairment | 2,469 | 2,322 | ||||
Acquired loans collectively evaluated for impairment | 43 | 41 | ||||
Total ending allowance balance | 2,820 | 2,651 | 2,521 | 2,333 | 2,310 | 2,205 |
Loans: | ||||||
Loans individually evaluated for impairment | 5,539 | 4,559 | ||||
Loans collectively evaluated for impairment | 375,708 | 339,143 | ||||
Acquired loans | 107,903 | 125,182 | ||||
Loans | 489,150 | 468,884 | ||||
Residential real estate | Receivables Acquired with Deteriorated Credit Quality | ||||||
Ending allowance balance attributable to loans: | ||||||
Acquired with deteriorated credit quality | 0 | 0 | ||||
Loans: | ||||||
Acquired with deteriorated credit quality | 0 | 0 | ||||
Consumer | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 3,031 | 2,844 | ||||
Acquired loans collectively evaluated for impairment | 4 | 4 | ||||
Total ending allowance balance | 3,035 | 3,050 | 2,848 | 2,907 | 2,927 | 2,766 |
Loans: | ||||||
Loans individually evaluated for impairment | 64 | 59 | ||||
Loans collectively evaluated for impairment | 215,774 | 198,370 | ||||
Acquired loans | 10,678 | 14,507 | ||||
Loans | 226,516 | 212,936 | ||||
Consumer | Receivables Acquired with Deteriorated Credit Quality | ||||||
Ending allowance balance attributable to loans: | ||||||
Acquired with deteriorated credit quality | 0 | 0 | ||||
Loans: | ||||||
Acquired with deteriorated credit quality | 0 | 0 | ||||
Unallocated | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 775 | 675 | ||||
Acquired loans collectively evaluated for impairment | 0 | 0 | ||||
Total ending allowance balance | 775 | $ 787 | 675 | $ 630 | $ 619 | $ 430 |
Loans: | ||||||
Loans individually evaluated for impairment | 0 | 0 | ||||
Loans collectively evaluated for impairment | 0 | 0 | ||||
Acquired loans | 0 | 0 | ||||
Loans | 0 | 0 | ||||
Unallocated | Receivables Acquired with Deteriorated Credit Quality | ||||||
Ending allowance balance attributable to loans: | ||||||
Acquired with deteriorated credit quality | 0 | 0 | ||||
Loans: | ||||||
Acquired with deteriorated credit quality | $ 0 | $ 0 |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | $ 4,797 | $ 4,282 |
Unpaid Principal Balance, With an allowance recorded | 2,666 | 1,636 |
Unpaid Principal Balance | 7,463 | 5,918 |
Recorded Investment, With no related allowance recorded | 3,922 | 3,925 |
Recorded Investment, With an allowance recorded | 2,632 | 1,611 |
Recorded Investment | 6,554 | 5,536 |
Allowance for Loan Losses Allocated | 318 | 162 |
Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 163 | 145 |
Recorded Investment, With no related allowance recorded | 64 | 59 |
Commercial real estate, Owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 532 | 659 |
Recorded Investment, With no related allowance recorded | 507 | 658 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 41 | |
Recorded Investment, With no related allowance recorded | 40 | |
Commercial, Commercial and industrial | Commercial | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 108 | 214 |
Unpaid Principal Balance, With an allowance recorded | 73 | 68 |
Recorded Investment, With no related allowance recorded | 74 | 192 |
Recorded Investment, With an allowance recorded | 73 | 68 |
Allowance for Loan Losses Allocated | 4 | 4 |
Residential real estate, 1-4 family residential | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 3,608 | 2,923 |
Unpaid Principal Balance, With an allowance recorded | 2,145 | 1,409 |
Recorded Investment, With no related allowance recorded | 2,943 | 2,697 |
Recorded Investment, With an allowance recorded | 2,125 | 1,387 |
Allowance for Loan Losses Allocated | 227 | 84 |
Residential real estate, Home equity lines of credit | Residential real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With no related allowance recorded | 345 | 341 |
Unpaid Principal Balance, With an allowance recorded | 190 | 159 |
Recorded Investment, With no related allowance recorded | 294 | 319 |
Recorded Investment, With an allowance recorded | 177 | 156 |
Allowance for Loan Losses Allocated | 81 | $ 74 |
Commercial real estate, Farmland | Commercial real estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance, With an allowance recorded | 258 | |
Recorded Investment, With an allowance recorded | 257 | |
Allowance for Loan Losses Allocated | $ 6 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | $ 4,010 | $ 3,502 | $ 4,047 | $ 3,755 |
Average Recorded Investment, With an allowance recorded | 2,648 | 1,482 | 2,244 | 2,115 |
Average Recorded Investment | 6,658 | 4,984 | 6,291 | 5,870 |
Interest Income Recognized, With no related allowance recorded | 56 | 42 | 178 | 135 |
Interest Income Recognized, With related allowance recorded | 22 | 14 | 46 | 67 |
Interest Income Recognized | 78 | 56 | 224 | 202 |
Consumer | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | 68 | 91 | 69 | 90 |
Average Recorded Investment, With an allowance recorded | 11 | 9 | 4 | 3 |
Interest Income Recognized, With no related allowance recorded | 2 | 2 | 8 | 8 |
Interest Income Recognized, With related allowance recorded | 0 | 0 | 0 | 0 |
Commercial real estate, Owner occupied | Commercial real estate | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | 512 | 680 | 487 | 794 |
Average Recorded Investment, With an allowance recorded | 0 | 159 | 0 | 164 |
Interest Income Recognized, With no related allowance recorded | 8 | 2 | 23 | 7 |
Interest Income Recognized, With related allowance recorded | 0 | 2 | 0 | 6 |
Commercial real estate, Non-owner occupied | Commercial real estate | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | 40 | 16 | 22 | 87 |
Average Recorded Investment, With an allowance recorded | 0 | 362 | 0 | 854 |
Interest Income Recognized, With no related allowance recorded | 1 | 1 | 1 | 2 |
Interest Income Recognized, With related allowance recorded | 0 | 0 | 0 | 28 |
Commercial, Commercial and industrial | Commercial | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | 155 | 181 | 411 | 182 |
Average Recorded Investment, With an allowance recorded | 78 | 70 | 71 | 72 |
Interest Income Recognized, With no related allowance recorded | 1 | 1 | 3 | 3 |
Interest Income Recognized, With related allowance recorded | 1 | 1 | 3 | 3 |
Residential real estate, 1-4 family residential | Residential real estate | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | 2,941 | 2,208 | 2,751 | 2,279 |
Average Recorded Investment, With an allowance recorded | 2,132 | 785 | 1,837 | 784 |
Interest Income Recognized, With no related allowance recorded | 40 | 32 | 131 | 104 |
Interest Income Recognized, With related allowance recorded | 19 | 10 | 38 | 27 |
Residential real estate, Home equity lines of credit | Residential real estate | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | 294 | 326 | 307 | 293 |
Average Recorded Investment, With an allowance recorded | 170 | 97 | 161 | 88 |
Interest Income Recognized, With no related allowance recorded | 4 | 4 | 12 | 11 |
Interest Income Recognized, With related allowance recorded | 2 | 1 | 5 | 3 |
Commercial real estate, Farmland | Commercial real estate | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | 0 | 16 | ||
Average Recorded Investment, With an allowance recorded | 257 | 0 | 171 | 84 |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | ||
Interest Income Recognized, With related allowance recorded | $ 0 | $ 0 | 0 | 0 |
Commercial, Agricultural | Commercial | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment, With no related allowance recorded | 0 | 14 | ||
Average Recorded Investment, With an allowance recorded | 0 | 66 | ||
Interest Income Recognized, With no related allowance recorded | 0 | 0 | ||
Interest Income Recognized, With related allowance recorded | $ 0 | $ 0 |
Loans (Details 7)
Loans (Details 7) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | $ 7,611 | $ 6,663 |
Loans Past Due 90 Days or More Still Accruing | 1,611 | 1,032 |
Originated Loans | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 5,002 | 4,572 |
Loans Past Due 90 Days or More Still Accruing | 1,166 | 929 |
Originated Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 353 | 501 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Originated Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 33 | 45 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Originated Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 178 | 249 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Originated Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 177 | 2 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Originated Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 3,256 | 2,653 |
Loans Past Due 90 Days or More Still Accruing | 633 | 393 |
Originated Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 610 | 602 |
Loans Past Due 90 Days or More Still Accruing | 183 | 8 |
Originated Loans | Consumer, Indirect | Consumer | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 344 | 457 |
Loans Past Due 90 Days or More Still Accruing | 228 | 361 |
Originated Loans | Consumer, Direct | Consumer | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 51 | 63 |
Loans Past Due 90 Days or More Still Accruing | 119 | 153 |
Originated Loans | Consumer, Other | Consumer | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 0 | 0 |
Loans Past Due 90 Days or More Still Accruing | 3 | 14 |
Acquired Loans | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 2,609 | 2,091 |
Loans Past Due 90 Days or More Still Accruing | 445 | 103 |
Acquired Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 257 | 0 |
Loans Past Due 90 Days or More Still Accruing | 0 | 0 |
Acquired Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 762 | 943 |
Loans Past Due 90 Days or More Still Accruing | 42 | 19 |
Acquired Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 297 | 9 |
Loans Past Due 90 Days or More Still Accruing | 10 | 0 |
Acquired Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 882 | 613 |
Loans Past Due 90 Days or More Still Accruing | 220 | 69 |
Acquired Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 176 | 170 |
Loans Past Due 90 Days or More Still Accruing | 123 | 0 |
Acquired Loans | Consumer, Direct | Consumer | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 147 | 140 |
Loans Past Due 90 Days or More Still Accruing | 50 | 15 |
Acquired Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||
Schedule of investment in nonaccrual and loans past due over 90 days still on accrual by class of loans | ||
Nonaccrual | 88 | 216 |
Loans Past Due 90 Days or More Still Accruing | $ 0 | $ 0 |
Loans (Details 8)
Loans (Details 8) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of investment in past due loans | ||
Total Past Due | $ 19,848 | $ 17,886 |
Loans Not Past Due | 1,671,684 | 1,559,495 |
Loans | 1,691,532 | 1,577,381 |
Commercial real estate | ||
Schedule of investment in past due loans | ||
Loans | 698,172 | 630,700 |
Commercial | ||
Schedule of investment in past due loans | ||
Loans | 277,694 | 264,861 |
Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 489,150 | 468,884 |
Consumer | ||
Schedule of investment in past due loans | ||
Loans | 226,516 | 212,936 |
Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 8,126 | 8,012 |
Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,500 | 2,179 |
Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 9,222 | 7,695 |
Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 385,880 | 368,592 |
Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Loans | 103,270 | 100,292 |
Consumer, Indirect | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 174,114 | 160,848 |
Consumer, Direct | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 41,371 | 43,084 |
Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 11,031 | 9,004 |
Originated Loans | ||
Schedule of investment in past due loans | ||
Total Past Due | 13,179 | 13,100 |
Loans Not Past Due | 1,410,161 | 1,251,918 |
Loans | 1,423,340 | 1,265,018 |
Originated Loans | Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 5,000 | 5,745 |
Originated Loans | Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,011 | 1,854 |
Originated Loans | Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 6,168 | 5,501 |
Originated Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 411 | 845 |
Loans Not Past Due | 152,303 | 139,081 |
Loans | 152,714 | 139,926 |
Originated Loans | Commercial real estate, Owner occupied | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 58 | 4 |
Originated Loans | Commercial real estate, Owner occupied | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 340 |
Originated Loans | Commercial real estate, Owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 353 | 501 |
Originated Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Loans Not Past Due | 240,304 | 198,588 |
Loans | 240,304 | 198,588 |
Originated Loans | Commercial real estate, Non-owner occupied | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Non-owner occupied | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Non-owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 452 | 45 |
Loans Not Past Due | 94,430 | 70,398 |
Loans | 94,882 | 70,443 |
Originated Loans | Commercial real estate, Farmland | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 419 | 0 |
Originated Loans | Commercial real estate, Farmland | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Farmland | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 33 | 45 |
Originated Loans | Commercial real estate, Other | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Loans Not Past Due | 91,673 | 88,703 |
Loans | 91,673 | 88,703 |
Originated Loans | Commercial real estate, Other | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Other | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial real estate, Other | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 513 | 544 |
Loans Not Past Due | 212,653 | 192,335 |
Loans | 213,166 | 192,879 |
Originated Loans | Commercial, Commercial and industrial | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 237 | 292 |
Originated Loans | Commercial, Commercial and industrial | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 98 | 3 |
Originated Loans | Commercial, Commercial and industrial | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 178 | 249 |
Originated Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 289 | 76 |
Loans Not Past Due | 33,757 | 32,605 |
Loans | 34,046 | 32,681 |
Originated Loans | Commercial, Agricultural | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 112 | 74 |
Originated Loans | Commercial, Agricultural | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Originated Loans | Commercial, Agricultural | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 177 | 2 |
Originated Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 6,004 | 5,493 |
Loans Not Past Due | 296,610 | 266,338 |
Loans | 302,614 | 271,831 |
Originated Loans | Residential real estate, 1-4 family residential | Financing Receivables, 30 to 59 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,385 | 2,044 |
Originated Loans | Residential real estate, 1-4 family residential | Financing Receivables, 60 to 89 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 730 | 403 |
Originated Loans | Residential real estate, 1-4 family residential | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 3,889 | 3,046 |
Originated Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 885 | 783 |
Loans Not Past Due | 77,220 | 70,754 |
Loans | 78,105 | 71,537 |
Originated Loans | Residential real estate, Home equity lines of credit | Financing Receivables, 30 to 59 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 83 | 155 |
Originated Loans | Residential real estate, Home equity lines of credit | Financing Receivables, 60 to 89 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 9 | 18 |
Originated Loans | Residential real estate, Home equity lines of credit | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 793 | 610 |
Originated Loans | Consumer, Indirect | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 3,278 | 4,076 |
Loans Not Past Due | 170,836 | 156,772 |
Loans | 174,114 | 160,848 |
Originated Loans | Consumer, Indirect | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,888 | 2,429 |
Originated Loans | Consumer, Indirect | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 818 | 829 |
Originated Loans | Consumer, Indirect | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 572 | 818 |
Originated Loans | Consumer, Direct | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,302 | 1,098 |
Loans Not Past Due | 29,546 | 27,608 |
Loans | 30,848 | 28,706 |
Originated Loans | Consumer, Direct | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 802 | 632 |
Originated Loans | Consumer, Direct | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 330 | 250 |
Originated Loans | Consumer, Direct | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 170 | 216 |
Originated Loans | Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 45 | 140 |
Loans Not Past Due | 10,829 | 8,736 |
Loans | 10,874 | 8,876 |
Originated Loans | Consumer, Other | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 16 | 115 |
Originated Loans | Consumer, Other | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 26 | 11 |
Originated Loans | Consumer, Other | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 3 | 14 |
Acquired Loans | ||
Schedule of investment in past due loans | ||
Total Past Due | 6,669 | 4,786 |
Loans Not Past Due | 261,523 | 307,577 |
Loans | 268,192 | 312,363 |
Acquired Loans | Financing Receivables, 30 to 59 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 3,126 | 2,267 |
Acquired Loans | Financing Receivables, 60 to 89 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 489 | 325 |
Acquired Loans | Financing Receivables, Equal to Greater than 90 Days Past Due | ||
Schedule of investment in past due loans | ||
Total Past Due | 3,054 | 2,194 |
Acquired Loans | Commercial real estate, Owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 512 | 0 |
Loans Not Past Due | 46,988 | 53,051 |
Loans | 47,500 | 53,051 |
Acquired Loans | Commercial real estate, Owner occupied | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 512 | 0 |
Acquired Loans | Commercial real estate, Owner occupied | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Non-owner occupied | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 148 | 216 |
Loans Not Past Due | 17,973 | 20,042 |
Loans | 18,121 | 20,258 |
Acquired Loans | Commercial real estate, Non-owner occupied | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 60 | 0 |
Acquired Loans | Commercial real estate, Non-owner occupied | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Non-owner occupied | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 88 | 216 |
Acquired Loans | Commercial real estate, Farmland | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 859 | 454 |
Loans Not Past Due | 41,397 | 47,301 |
Loans | 42,256 | 47,755 |
Acquired Loans | Commercial real estate, Farmland | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 527 | 454 |
Acquired Loans | Commercial real estate, Farmland | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 75 | 0 |
Acquired Loans | Commercial real estate, Farmland | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 257 | 0 |
Acquired Loans | Commercial real estate, Other | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Loans Not Past Due | 10,722 | 11,976 |
Loans | 10,722 | 11,976 |
Acquired Loans | Commercial real estate, Other | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Other | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial real estate, Other | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 0 |
Acquired Loans | Commercial, Commercial and industrial | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,107 | 1,385 |
Loans Not Past Due | 18,527 | 25,709 |
Loans | 19,634 | 27,094 |
Acquired Loans | Commercial, Commercial and industrial | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 246 | 327 |
Acquired Loans | Commercial, Commercial and industrial | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 57 | 96 |
Acquired Loans | Commercial, Commercial and industrial | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 804 | 962 |
Acquired Loans | Commercial, Agricultural | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 333 | 96 |
Loans Not Past Due | 10,515 | 12,111 |
Loans | 10,848 | 12,207 |
Acquired Loans | Commercial, Agricultural | Financing Receivables, 30 to 59 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 20 | 87 |
Acquired Loans | Commercial, Agricultural | Financing Receivables, 60 to 89 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 6 | 0 |
Acquired Loans | Commercial, Agricultural | Financing Receivables, Equal to Greater than 90 Days Past Due | Commercial | ||
Schedule of investment in past due loans | ||
Total Past Due | 307 | 9 |
Acquired Loans | Residential real estate, 1-4 family residential | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 2,491 | 1,617 |
Loans Not Past Due | 80,775 | 95,144 |
Loans | 83,266 | 96,761 |
Acquired Loans | Residential real estate, 1-4 family residential | Financing Receivables, 30 to 59 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,289 | 858 |
Acquired Loans | Residential real estate, 1-4 family residential | Financing Receivables, 60 to 89 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 100 | 77 |
Acquired Loans | Residential real estate, 1-4 family residential | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 1,102 | 682 |
Acquired Loans | Residential real estate, Home equity lines of credit | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 481 | 331 |
Loans Not Past Due | 24,684 | 28,424 |
Loans | 25,165 | 28,755 |
Acquired Loans | Residential real estate, Home equity lines of credit | Financing Receivables, 30 to 59 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 168 | 161 |
Acquired Loans | Residential real estate, Home equity lines of credit | Financing Receivables, 60 to 89 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 14 | 0 |
Acquired Loans | Residential real estate, Home equity lines of credit | Financing Receivables, Equal to Greater than 90 Days Past Due | Residential real estate | ||
Schedule of investment in past due loans | ||
Total Past Due | 299 | 170 |
Acquired Loans | Consumer, Indirect | Consumer | ||
Schedule of investment in past due loans | ||
Loans | 0 | 0 |
Acquired Loans | Consumer, Direct | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 737 | 686 |
Loans Not Past Due | 9,786 | 13,692 |
Loans | 10,523 | 14,378 |
Acquired Loans | Consumer, Direct | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 303 | 380 |
Acquired Loans | Consumer, Direct | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 237 | 151 |
Acquired Loans | Consumer, Direct | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 197 | 155 |
Acquired Loans | Consumer, Other | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 1 | 1 |
Loans Not Past Due | 156 | 127 |
Loans | 157 | 128 |
Acquired Loans | Consumer, Other | Financing Receivables, 30 to 59 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 1 | 0 |
Acquired Loans | Consumer, Other | Financing Receivables, 60 to 89 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | 0 | 1 |
Acquired Loans | Consumer, Other | Financing Receivables, Equal to Greater than 90 Days Past Due | Consumer | ||
Schedule of investment in past due loans | ||
Total Past Due | $ 0 | $ 0 |
Troubled Debt Restructurings (D
Troubled Debt Restructurings (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2018USD ($)Loans | Sep. 30, 2017USD ($)Loans | Sep. 30, 2018USD ($)Loans | Sep. 30, 2017USD ($)Loans | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Financing Receivable Modifications [Line Items] | ||||||
Total troubled debt restructurings | $ 5,600,000 | $ 5,600,000 | $ 5,000,000 | |||
Specific reserves to customers | 318,000 | 318,000 | 162,000 | |||
Commitments to lend additional amounts to borrowers classified as troubled debt restructurings | 0 | 0 | 0 | |||
Provision for loan losses | $ 950,000 | $ 950,000 | $ 2,475,000 | $ 2,950,000 | ||
Troubled debt restructured loans with subsequent payment defaults | Loans | Loan | Loans | 0 | 0 | ||||
Scenario, Forecast | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Provision for loan losses | $ 0 | |||||
Commercial loans | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Troubled debt restructured loans with subsequent payment defaults | Loans | Loan | Loans | 1 | 1 | ||||
Loans default payment past due period | 30 days | |||||
Residential real estate loan | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Troubled debt restructured loans with subsequent payment defaults | Loans | Loan | Loans | 3 | 3 | ||||
Residential Real Estate Loan And Home Equity Line Of Credit | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Loans default payment past due period | 30 days | |||||
Troubled debt restructurings | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Specific reserves to customers | $ 87,000 | $ 87,000 | $ 68,000 | |||
Allowance adjustment charge offs | 27,000 | $ 30,000 | 66,000 | $ 60,000 | ||
Provision for loan losses | $ 27,000 | $ 30,000 | $ 66,000 | $ 60,000 | ||
Extended Maturity | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Maturity period loans | 84 months | 120 months | ||||
Extended Maturity | Minimum | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Maturity period loans | 5 months | 6 months | ||||
Extended Maturity | Maximum | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Maturity period loans | 84 months | 132 months | ||||
Contractual Interest Rate Reduction | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Reduction of the notes stated interest rate | 0.99% | |||||
Contractual Interest Rate Reduction | Minimum | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Reduction of the notes stated interest rate | 1.75% | 0.49% | ||||
Contractual Interest Rate Reduction | Maximum | ||||||
Financing Receivable Modifications [Line Items] | ||||||
Reduction of the notes stated interest rate | 2.50% | 1.89% |
Troubled Debt Restructurings _2
Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)Loan | Sep. 30, 2017USD ($)Loan | Sep. 30, 2018USD ($)Loan | Sep. 30, 2017USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 12 | 13 | 42 | 46 |
Pre-Modification Outstanding Recorded Investment | $ 223 | $ 373 | $ 1,460 | $ 1,027 |
Post-Modification Outstanding Recorded Investment | $ 223 | $ 373 | $ 1,460 | $ 1,030 |
Originated Loans | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 10 | 12 | 31 | 41 |
Pre-Modification Outstanding Recorded Investment | $ 167 | $ 347 | $ 884 | $ 891 |
Post-Modification Outstanding Recorded Investment | $ 167 | $ 347 | $ 884 | $ 894 |
Originated Loans | Commercial real estate, Owner occupied | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 360 | |||
Post-Modification Outstanding Recorded Investment | $ 360 | |||
Originated Loans | Residential real estate, 1-4 family residential | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | 3 | 6 | 10 |
Pre-Modification Outstanding Recorded Investment | $ 87 | $ 235 | $ 341 | $ 535 |
Post-Modification Outstanding Recorded Investment | $ 87 | $ 235 | $ 341 | $ 538 |
Originated Loans | Residential real estate, Home equity lines of credit | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | 1 | 4 | 9 |
Pre-Modification Outstanding Recorded Investment | $ 34 | $ 61 | $ 48 | $ 225 |
Post-Modification Outstanding Recorded Investment | $ 34 | $ 61 | $ 48 | $ 225 |
Originated Loans | Consumer, Indirect | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 3 | 8 | 17 | 22 |
Pre-Modification Outstanding Recorded Investment | $ 8 | $ 51 | $ 97 | $ 131 |
Post-Modification Outstanding Recorded Investment | $ 8 | $ 51 | $ 97 | $ 131 |
Originated Loans | Consumer, Other | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 19 | $ 19 | ||
Post-Modification Outstanding Recorded Investment | $ 19 | $ 19 | ||
Originated Loans | Commercial | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 19 | $ 19 | ||
Post-Modification Outstanding Recorded Investment | $ 19 | $ 19 | ||
Acquired Loans | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | 11 | 5 | |
Pre-Modification Outstanding Recorded Investment | $ 56 | $ 576 | $ 136 | |
Post-Modification Outstanding Recorded Investment | $ 56 | $ 576 | $ 136 | |
Acquired Loans | Residential real estate, 1-4 family residential | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 6 | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 53 | $ 242 | $ 24 | |
Post-Modification Outstanding Recorded Investment | $ 53 | $ 242 | $ 24 | |
Acquired Loans | Residential real estate, Home equity lines of credit | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 57 | |||
Post-Modification Outstanding Recorded Investment | $ 57 | |||
Acquired Loans | Consumer, Indirect | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | |||
Pre-Modification Outstanding Recorded Investment | $ 55 | |||
Post-Modification Outstanding Recorded Investment | $ 55 | |||
Acquired Loans | Consumer, Other | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | 1 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 3 | $ 26 | $ 3 | |
Post-Modification Outstanding Recorded Investment | $ 3 | $ 26 | $ 3 | |
Acquired Loans | Commercial real estate, Non-owner occupied | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 42 | |||
Post-Modification Outstanding Recorded Investment | $ 42 | |||
Acquired Loans | Commercial real estate, Farmland | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 258 | |||
Post-Modification Outstanding Recorded Investment | $ 258 | |||
Acquired Loans | Commercial, Commercial and industrial | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | |||
Pre-Modification Outstanding Recorded Investment | $ 31 | |||
Post-Modification Outstanding Recorded Investment | $ 31 |
Credit Quality Indicators (Deta
Credit Quality Indicators (Details Textual) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Maximum commercial loan and commercial real estate relationships | $ 750,000 | |
Residential real estate, 1-4 family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Other real estate owned properties | 0 | $ 171,000 |
Other real estate properties in foreclosure | $ 940,000 | $ 336,000 |
Credit Quality Indicators (De_2
Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | $ 975,866 | $ 895,561 |
Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 956,981 | 873,901 |
Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 6,318 | 11,415 |
Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 12,567 | 10,245 |
Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 826,785 | 723,220 |
Originated Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 816,954 | 711,466 |
Originated Loans | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 4,825 | 6,459 |
Originated Loans | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 5,006 | 5,295 |
Originated Loans | Commercial real estate | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 152,714 | 139,926 |
Originated Loans | Commercial real estate | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 240,304 | 198,588 |
Originated Loans | Commercial real estate | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 94,882 | 70,443 |
Originated Loans | Commercial real estate | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 91,673 | 88,703 |
Originated Loans | Commercial real estate | Pass | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 150,728 | 137,913 |
Originated Loans | Commercial real estate | Pass | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 239,817 | 198,043 |
Originated Loans | Commercial real estate | Pass | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 94,808 | 70,354 |
Originated Loans | Commercial real estate | Pass | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 91,417 | 88,421 |
Originated Loans | Commercial real estate | Special Mention | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 971 | 442 |
Originated Loans | Commercial real estate | Special Mention | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 377 | 419 |
Originated Loans | Commercial real estate | Special Mention | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 0 | 44 |
Originated Loans | Commercial real estate | Special Mention | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 0 | 36 |
Originated Loans | Commercial real estate | Substandard | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,015 | 1,571 |
Originated Loans | Commercial real estate | Substandard | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 110 | 126 |
Originated Loans | Commercial real estate | Substandard | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 74 | 45 |
Originated Loans | Commercial real estate | Substandard | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 256 | 246 |
Originated Loans | Commercial | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 213,166 | 192,879 |
Originated Loans | Commercial | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 34,046 | 32,681 |
Originated Loans | Commercial | Pass | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 206,823 | 184,444 |
Originated Loans | Commercial | Pass | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 33,361 | 32,291 |
Originated Loans | Commercial | Special Mention | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 3,464 | 5,326 |
Originated Loans | Commercial | Special Mention | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 13 | 192 |
Originated Loans | Commercial | Substandard | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 2,879 | 3,109 |
Originated Loans | Commercial | Substandard | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 672 | 198 |
Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 149,081 | 172,341 |
Acquired Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 140,027 | 162,435 |
Acquired Loans | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,493 | 4,956 |
Acquired Loans | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 7,561 | 4,950 |
Acquired Loans | Commercial real estate | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 47,500 | 53,051 |
Acquired Loans | Commercial real estate | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 18,121 | 20,258 |
Acquired Loans | Commercial real estate | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 42,256 | 47,755 |
Acquired Loans | Commercial real estate | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 10,722 | 11,976 |
Acquired Loans | Commercial real estate | Pass | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 46,279 | 51,133 |
Acquired Loans | Commercial real estate | Pass | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 17,832 | 19,823 |
Acquired Loans | Commercial real estate | Pass | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 38,041 | 43,694 |
Acquired Loans | Commercial real estate | Pass | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 10,060 | 11,299 |
Acquired Loans | Commercial real estate | Special Mention | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 443 | 466 |
Acquired Loans | Commercial real estate | Special Mention | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 60 | 63 |
Acquired Loans | Commercial real estate | Special Mention | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 449 | 3,304 |
Acquired Loans | Commercial real estate | Special Mention | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 0 | 567 |
Acquired Loans | Commercial real estate | Substandard | Commercial real estate, Owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 778 | 1,452 |
Acquired Loans | Commercial real estate | Substandard | Commercial real estate, Non-owner occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 229 | 372 |
Acquired Loans | Commercial real estate | Substandard | Commercial farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 3,766 | 757 |
Acquired Loans | Commercial real estate | Substandard | Commercial real estate, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 662 | 110 |
Acquired Loans | Commercial | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 19,634 | 27,094 |
Acquired Loans | Commercial | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 10,848 | 12,207 |
Acquired Loans | Commercial | Pass | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 17,910 | 25,286 |
Acquired Loans | Commercial | Pass | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 9,905 | 11,200 |
Acquired Loans | Commercial | Special Mention | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 195 | 2 |
Acquired Loans | Commercial | Special Mention | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 346 | 554 |
Acquired Loans | Commercial | Substandard | Commercial and industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | 1,529 | 1,806 |
Acquired Loans | Commercial | Substandard | Commercial, Agricultural | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total risk category of loans by class of loans | $ 597 | $ 453 |
Credit Quality Indicators (De_3
Credit Quality Indicators (Details 1) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 1,691,532 | $ 1,577,381 |
Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,423,340 | 1,265,018 |
Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 268,192 | 312,363 |
Residential real estate | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 489,150 | 468,884 |
Residential real estate | Residential real estate, 1-4 family residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 385,880 | 368,592 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 302,614 | 271,831 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 298,725 | 268,785 |
Residential real estate | Residential real estate, 1-4 family residential | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,889 | 3,046 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 83,266 | 96,761 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 82,164 | 96,079 |
Residential real estate | Residential real estate, 1-4 family residential | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,102 | 682 |
Residential real estate | Residential real estate, Home equity lines of credit | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 103,270 | 100,292 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 78,105 | 71,537 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 77,312 | 70,927 |
Residential real estate | Residential real estate, Home equity lines of credit | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 793 | 610 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 25,165 | 28,755 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 24,866 | 28,585 |
Residential real estate | Residential real estate, Home equity lines of credit | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 299 | 170 |
Consumer | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 226,516 | 212,936 |
Consumer | Consumer, Indirect | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 174,114 | 160,848 |
Consumer | Consumer, Indirect | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 174,114 | 160,848 |
Consumer | Consumer, Indirect | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 173,542 | 160,030 |
Consumer | Consumer, Indirect | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 572 | 818 |
Consumer | Consumer, Indirect | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Consumer, Indirect | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Consumer, Indirect | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Consumer, Direct | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 41,371 | 43,084 |
Consumer | Consumer, Direct | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 30,848 | 28,706 |
Consumer | Consumer, Direct | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 30,678 | 28,490 |
Consumer | Consumer, Direct | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 170 | 216 |
Consumer | Consumer, Direct | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 10,523 | 14,378 |
Consumer | Consumer, Direct | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 10,326 | 14,223 |
Consumer | Consumer, Direct | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 197 | 155 |
Consumer | Consumer, Other | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,031 | 9,004 |
Consumer | Consumer, Other | Originated Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 10,874 | 8,876 |
Consumer | Consumer, Other | Originated Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 10,871 | 8,862 |
Consumer | Consumer, Other | Originated Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3 | 14 |
Consumer | Consumer, Other | Acquired Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 157 | 128 |
Consumer | Consumer, Other | Acquired Loans | Performing Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 157 | 128 |
Consumer | Consumer, Other | Acquired Loans | Nonperforming Financing Receivable | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 0 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Disaggregation Of Revenue [Line Items] | ||||
TOTAL NONINTEREST INCOME | $ 6,478 | $ 6,058 | $ 18,794 | $ 18,000 |
Service Charges on Deposit Accounts | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,151 | 1,077 | 3,139 | 3,017 |
Debit Card and EFT Fees | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 814 | 770 | 2,490 | 2,259 |
Trust Fees | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,827 | 1,608 | 5,374 | 4,809 |
Insurance Agency Commissions | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 567 | 531 | 1,979 | 1,877 |
Retirement Plan Consulting Fees | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 470 | 480 | 1,314 | 1,392 |
Investment Commissions | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 273 | 184 | 844 | 659 |
Operating Segments | ||||
Disaggregation Of Revenue [Line Items] | ||||
TOTAL NONINTEREST INCOME | 6,478 | 6,058 | 18,794 | 18,000 |
Operating Segments | Trust Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
TOTAL NONINTEREST INCOME | 1,827 | 1,608 | 5,374 | 4,809 |
Operating Segments | Bank Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
TOTAL NONINTEREST INCOME | 4,181 | 3,970 | 12,106 | 11,799 |
Operating Segments | Retirement Consulting Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
TOTAL NONINTEREST INCOME | 470 | 480 | 1,314 | 1,392 |
Operating Segments | Service Charges on Deposit Accounts | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,151 | 1,077 | 3,139 | 3,017 |
Operating Segments | Service Charges on Deposit Accounts | Trust Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Service Charges on Deposit Accounts | Bank Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,151 | 1,077 | 3,139 | 3,017 |
Operating Segments | Service Charges on Deposit Accounts | Retirement Consulting Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Debit Card and EFT Fees | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 814 | 770 | 2,490 | 2,259 |
Operating Segments | Debit Card and EFT Fees | Trust Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Debit Card and EFT Fees | Bank Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 814 | 770 | 2,490 | 2,259 |
Operating Segments | Debit Card and EFT Fees | Retirement Consulting Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Trust Fees | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,827 | 1,608 | 5,374 | 4,809 |
Operating Segments | Trust Fees | Trust Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,827 | 1,608 | 5,374 | 4,809 |
Operating Segments | Trust Fees | Bank Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Trust Fees | Retirement Consulting Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Insurance Agency Commissions | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 567 | 531 | 1,979 | 1,877 |
Operating Segments | Insurance Agency Commissions | Trust Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Insurance Agency Commissions | Bank Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 567 | 531 | 1,979 | 1,877 |
Operating Segments | Insurance Agency Commissions | Retirement Consulting Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Retirement Plan Consulting Fees | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 470 | 480 | 1,314 | 1,392 |
Operating Segments | Retirement Plan Consulting Fees | Trust Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Retirement Plan Consulting Fees | Bank Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Retirement Plan Consulting Fees | Retirement Consulting Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 470 | 480 | 1,314 | 1,392 |
Operating Segments | Investment Commissions | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 273 | 184 | 844 | 659 |
Operating Segments | Investment Commissions | Trust Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Investment Commissions | Bank Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 273 | 184 | 844 | 659 |
Operating Segments | Investment Commissions | Retirement Consulting Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Other | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,376 | 1,408 | 3,654 | 3,987 |
Operating Segments | Other | Trust Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 0 | 0 | 0 | 0 |
Operating Segments | Other | Bank Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 1,376 | 1,408 | 3,654 | 3,987 |
Operating Segments | Other | Retirement Consulting Segment | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | $ 0 | $ 0 | $ 0 | $ 0 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers (Details Textual) - ASC 606 | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Revenue From Contract With Customer [Line Items] | |
Contingent debit card interchange fees | $ 0 |
Contingent incentive fees | 0 |
Contingent commission | $ 0 |
Percentage of insurance agency commissions representing total revenue | 2.30% |
Percentage of retirement plan consulting fees representing total revenue | 1.50% |
Percentage of investment commissions representing total revenue | 1.00% |
Cetera | |
Revenue From Contract With Customer [Line Items] | |
Contingent investment commissions to be refunded | $ 0 |
Interest-Rate Swaps (Details)
Interest-Rate Swaps (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | ||
Weighted average pay rate on interest-rate swaps | 4.51% | 4.46% |
Weighted average receive rate on interest-rate swaps | 4.49% | 3.81% |
Weighted average maturity (years) | 4 years 6 months | 3 years 2 months 12 days |
Fair value of interest-rate swaps | $ (1,167) | $ (653) |
Fair value of loan yield maintenance provisions | 1,167 | 653 |
Interest rate swaps | ||
Derivative [Line Items] | ||
Notional amounts | $ 36,838 | $ 38,481 |
Interest-Rate Swaps (Details Te
Interest-Rate Swaps (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest rate swaps | ||||
Derivative [Line Items] | ||||
Net Gain or Loss recognized in earnings | $ 0 | $ 0 | $ 0 | $ 0 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Basic EPS | ||||
Net income | $ 8,084 | $ 5,983 | $ 23,883 | $ 17,476 |
Weighted average shares outstanding | 27,695,105 | 27,654,020 | 27,638,721 | 27,436,931 |
Basic earnings per share | $ 0.29 | $ 0.22 | $ 0.86 | $ 0.64 |
Diluted EPS | ||||
Net income | $ 8,084 | $ 5,983 | $ 23,883 | $ 17,476 |
Weighted average shares outstanding | 27,695,105 | 27,654,020 | 27,638,721 | 27,436,931 |
Dilutive effect of restricted stock awards | 306,863 | 43,890 | 305,410 | 55,454 |
Weighted average shares for diluted earnings per share | 28,001,968 | 27,697,910 | 27,944,131 | 27,492,385 |
Diluted earnings per share | $ 0.29 | $ 0.22 | $ 0.85 | $ 0.64 |
Earnings Per Share (Details Tex
Earnings Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Restricted Stock Awards | ||||
Earnings Per Share Basic [Line Items] | ||||
Anti-dilutive securities excluded from computation of earnings per share | 0 | 0 | 0 | 0 |
Stock Based Compensation (Detai
Stock Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2012 | |
2017 Incentive Plan | Restricted Stock Awards | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Maximum shares available under equity incentive plan | 800,000 | |||||
Stock based compensation expense | $ 441 | $ 791 | $ 1,200 | $ 1,400 | ||
Unrecognized compensation expense | 1,800 | $ 1,800 | ||||
Compensation cost not yet recognized, period for recognition | 2 years 4 months 24 days | |||||
2017 Incentive Plan | Time Based Restricted Stock Awards | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Shares awarded under equity incentive plan | 22,729 | |||||
2017 Incentive Plan | Performance Based Restricted Stock Awards | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Shares awarded under equity incentive plan | 62,919 | |||||
2012 Incentive Plan | Restricted Stock Awards | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Maximum shares available under equity incentive plan | 500,000 | |||||
Shares awarded under equity incentive plan | 0 | |||||
Stock based compensation expense | 441 | $ 791 | $ 1,200 | $ 1,400 | ||
Unrecognized compensation expense | $ 1,800 | $ 1,800 | ||||
Compensation cost not yet recognized, period for recognition | 2 years 4 months 24 days | |||||
2017 Incentive Plan and 2012 Incentive Plan | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Number of shares vested | 304,978 | |||||
Number of shares vested, weighted average fair value | $ 15.28 | |||||
2017 Incentive Plan and 2012 Incentive Plan | Time Based Restricted Stock Awards | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Shares awarded under equity incentive plan | 22,729 | |||||
Number of shares vested | 241,105 | |||||
Number of shares vested, weighted average fair value | $ 7.99 | |||||
2017 Incentive Plan and 2012 Incentive Plan | Performance Based Restricted Stock Awards | ||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||
Shares awarded under equity incentive plan | 62,919 | |||||
Number of shares vested | 63,873 | |||||
Number of shares vested, weighted average fair value | $ 7.76 |
Stock Based Compensation (Det_2
Stock Based Compensation (Details) - 2017 Incentive Plan and 2012 Incentive Plan | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Vested, Maximum Awarded Units | shares | (304,978) |
Vested, Weighted Average Grant Date Fair Value | $ / shares | $ 15.28 |
Service Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Beginning balance - non-vested shares, Maximum Awarded Unit | shares | 323,331 |
Granted, Maximum Awarded Units | shares | 22,729 |
Vested, Maximum Awarded Units | shares | (241,105) |
Forfeited, Maximum Awarded Units | shares | 0 |
Ending balance - non-vested shares, Maximum Awarded Unit | shares | 104,955 |
Beginning balance - non-vested shares, Weighted Average Grant Date Fair Value | $ / shares | $ 9.20 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 14.68 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 7.99 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 0 |
Ending balance - non-vested shares, Weighted Average Grant Date Fair Value | $ / shares | $ 13.16 |
Performance Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Beginning balance - non-vested shares, Maximum Awarded Unit | shares | 266,515 |
Granted, Maximum Awarded Units | shares | 62,919 |
Vested, Maximum Awarded Units | shares | (63,873) |
Forfeited, Maximum Awarded Units | shares | (61,733) |
Ending balance - non-vested shares, Maximum Awarded Unit | shares | 203,828 |
Beginning balance - non-vested shares, Weighted Average Grant Date Fair Value | $ / shares | $ 9.43 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 14.31 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 7.76 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 7.76 |
Ending balance - non-vested shares, Weighted Average Grant Date Fair Value | $ / shares | $ 11.96 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Comprehensive Income Net Of Tax [Abstract] | |||||
Unrealized holding gains (losses) on available-for-sale securities during the period, pre-tax | $ (4,929) | $ (679) | $ (14,057) | $ 5,642 | |
Reclassification adjustment for (gains) losses included in net income, pre-tax | [1] | 27 | 0 | 24 | 1 |
Net other comprehensive income (loss), pre-tax | (4,902) | (679) | (14,033) | 5,643 | |
Unrealized holding gains (losses) on available-for-sale securities during the period, tax | 1,036 | 239 | 2,940 | (1,975) | |
Reclassification adjustment for (gains) losses included in net income, tax | [1] | (6) | 0 | (5) | (1) |
Net other comprehensive income (loss), tax | 1,030 | 239 | 2,935 | (1,976) | |
Unrealized holding gains (losses) on available-for-sale securities during the period, after tax | (3,893) | (440) | (11,117) | 3,667 | |
Reclassification adjustment for (gains) losses included in net income, after-tax | [1] | 21 | 0 | 19 | 0 |
Other comprehensive income (loss), net of tax | $ (3,872) | $ (440) | $ (11,098) | $ 3,667 | |
[1] | Pre-tax reclassification adjustments relating to available-for-sale securities are reported in security gains and the tax impact is included in income tax expense on the consolidated statements of income. |
Regulatory Capital Matters (Det
Regulatory Capital Matters (Details Textual) | Sep. 30, 2018 | Dec. 31, 2017 |
Regulatory Matters (Additional Textual) [Abstract] | ||
Common equity tier 1 capital to risk-weighted assets, capital conservation buffer ratio | 2.50% | |
Tier 1 capital to risk-weighted assets, capital conservation buffer ratio | 2.50% | |
Total capital to risk-weighted assets, capital conservation buffer ratio | 2.50% | |
Additional capital conservation buffer ratio | 1.875% | 1.25% |
Minimum ratio of common equity tier 1 capital to risk-weighted assets | 4.50% | 4.50% |
Minimum ratio of tier 1 capital to risk-weighted assets | 6.00% | 6.00% |
Minimum ratio of total capital to risk-weighted assets | 8.00% | 8.00% |
Minimum leverage ratio | 4.00% | 4.00% |
Farmers National Banc Corp | ||
Regulatory Matters (Additional Textual) [Abstract] | ||
Minimum ratio of common equity tier 1 capital to risk-weighted assets | 4.50% | 4.50% |
Minimum ratio of tier 1 capital to risk-weighted assets | 6.00% | 6.00% |
Minimum ratio of total capital to risk-weighted assets | 8.00% | 8.00% |
Minimum leverage ratio | 4.00% | 4.00% |
Regulatory Capital Matters (D_2
Regulatory Capital Matters (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Common equity tier 1 capital ratio | ||
Actual, Amount | $ 216,942 | $ 199,201 |
Actual, Ratio | 12.13% | 11.86% |
Requirement for Capital Adequacy Purposes, Amount | $ 80,479 | $ 75,573 |
Requirement for Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Total risk based capital ratio | ||
Actual, Amount | $ 232,565 | $ 213,725 |
Actual, Ratio | 13.00% | 12.73% |
Requirement for Capital Adequacy Purposes, Amount | $ 143,073 | $ 134,352 |
Requirement for Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier 1 risk based capital ratio | ||
Actual, Amount | $ 219,188 | $ 201,410 |
Actual, Ratio | 12.26% | 11.99% |
Requirement for Capital Adequacy Purposes, Amount | $ 107,305 | $ 100,764 |
Requirement for Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
Tier 1 leverage ratio | ||
Actual, Amount | $ 219,188 | $ 201,410 |
Actual, Ratio | 9.87% | 9.50% |
Requirement for Capital Adequacy Purposes, Amount | $ 88,800 | $ 84,800 |
Requirement for Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Farmers National Banc Corp | ||
Common equity tier 1 capital ratio | ||
Actual, Amount | $ 201,312 | $ 192,080 |
Actual, Ratio | 11.29% | 11.45% |
Requirement for Capital Adequacy Purposes, Amount | $ 80,215 | $ 75,462 |
Requirement for Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 115,866 | $ 109,001 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Total risk based capital ratio | ||
Actual, Amount | $ 214,689 | $ 204,395 |
Actual, Ratio | 12.04% | 12.19% |
Requirement for Capital Adequacy Purposes, Amount | $ 142,604 | $ 134,155 |
Requirement for Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 178,255 | $ 167,694 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 risk based capital ratio | ||
Actual, Amount | $ 201,312 | $ 192,080 |
Actual, Ratio | 11.29% | 11.45% |
Requirement for Capital Adequacy Purposes, Amount | $ 106,953 | $ 100,616 |
Requirement for Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 142,604 | $ 134,155 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 leverage ratio | ||
Actual, Amount | $ 201,312 | $ 192,080 |
Actual, Ratio | 9.13% | 9.12% |
Requirement for Capital Adequacy Purposes, Amount | $ 88,234 | $ 84,253 |
Requirement for Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 110,293 | $ 105,316 |
To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financial Assets | ||
Securities available for sale | $ 389,996 | $ 392,937 |
Loan yield maintenance provisions | 1,167 | 653 |
Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 396,888 | 398,516 |
Loan yield maintenance provisions | 1,167 | 653 |
Corporate bonds | ||
Financial Assets | ||
Securities available for sale | 1,183 | 1,234 |
Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 1,183 | 1,234 |
Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 21,301 | 17,121 |
Small Business Administration | ||
Financial Assets | ||
Securities available for sale | 12,427 | 14,212 |
Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 12,427 | 14,212 |
Other investments measured at net asset value | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 6,465 | 5,185 |
U.S. Treasury and U.S. government sponsored entities | ||
Financial Assets | ||
Securities available for sale | 6,383 | 8,917 |
U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 6,383 | 8,917 |
State and political subdivisions | ||
Financial Assets | ||
Securities available for sale | 201,275 | 191,003 |
State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 201,275 | 191,003 |
Mortgage-backed securities - residential | ||
Financial Assets | ||
Securities available for sale | 147,427 | 160,450 |
Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 147,427 | 160,450 |
Equity securities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 427 | 394 |
Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | 1,167 | 653 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 427 | 394 |
Loan yield maintenance provisions | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity securities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 427 | 394 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 389,990 | 392,929 |
Loan yield maintenance provisions | 1,167 | 653 |
Significant Other Observable Inputs (Level 2) | Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 1,183 | 1,234 |
Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 21,301 | 17,121 |
Significant Other Observable Inputs (Level 2) | Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 12,427 | 14,212 |
Significant Other Observable Inputs (Level 2) | U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 6,383 | 8,917 |
Significant Other Observable Inputs (Level 2) | State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 201,275 | 191,003 |
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 147,421 | 160,442 |
Significant Other Observable Inputs (Level 2) | Equity securities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | 1,167 | 653 |
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 6 | 8 |
Loan yield maintenance provisions | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Corporate bonds | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Small Business Administration | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | U.S. Treasury and U.S. government sponsored entities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | State and political subdivisions | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Mortgage-backed securities - residential | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 6 | 8 |
Significant Unobservable Inputs (Level 3) | Equity securities | Fair Value, Measurements, Recurring | ||
Financial Assets | ||
Securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Interest rate swaps | Fair Value, Measurements, Recurring | ||
Financial Liabilities | ||
Derivative liabilities | $ 0 | $ 0 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Fair value assets liabilities transfers amount between level 1 and level 2 | $ 0 | $ 0 | $ 0 | $ 0 | |
Impaired loans, unpaid principal balance with allowance recorded | 2,666 | 2,666 | $ 1,636 | ||
Impaired loans, allowance | 318 | 318 | 162 | ||
Provision for loan losses | 950 | 950 | 2,475 | 2,950 | |
Troubled debt restructurings | 5,600 | $ 5,600 | 5,000 | ||
Maximum maturity period of short term borrowings | 90 days | ||||
Measured Using Present Value of Cash Flows | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Troubled debt restructurings | 707 | $ 707 | 763 | ||
Collateral Dependent Impaired Loans | |||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||||
Impaired loans, unpaid principal balance with allowance recorded | 1,900 | 1,900 | 851 | ||
Impaired loans, allowance | 267 | 267 | $ 109 | ||
Provision for loan losses | $ 94 | $ 16 | $ 222 | $ 173 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs | ||||
Beginning Balance | $ 7 | $ 10 | $ 8 | $ 12 |
Transfers from level 2 | 0 | 0 | 0 | 0 |
Repayments, calls and maturities | (1) | (1) | (2) | (3) |
Ending Balance | $ 6 | $ 9 | $ 6 | $ 9 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | $ 6,554 | $ 5,536 |
Commercial real estate | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 251 | |
Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 1,346 | 740 |
Commercial | Commercial, Commercial and industrial | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 10 | |
Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 15 | 2 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial real estate | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial | Commercial, Commercial and industrial | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Commercial real estate | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | |
Significant Other Observable Inputs (Level 2) | Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Commercial | Commercial, Commercial and industrial | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | |
Significant Other Observable Inputs (Level 2) | Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Commercial real estate | Commercial real estate, Farmland | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 251 | |
Significant Unobservable Inputs (Level 3) | Residential Real Estate | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 1,346 | 740 |
Significant Unobservable Inputs (Level 3) | Commercial | Commercial, Commercial and industrial | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | 10 | |
Significant Unobservable Inputs (Level 3) | Consumer | Fair Value, Measurements, Nonrecurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Recorded Investment | $ 15 | $ 2 |
Fair Value (Details 3)
Fair Value (Details 3) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Fair value measurements for financial instruments | ||
Recorded Investment | $ 6,554 | $ 5,536 |
Fair Value, Measurements, Nonrecurring | Residential Real Estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | 1,346 | 740 |
Fair Value, Measurements, Nonrecurring | Consumer | ||
Fair value measurements for financial instruments | ||
Recorded Investment | 15 | 2 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 251 | |
Fair Value Measurements Valuation Technique(s) Description | Sales Comparison | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | Minimum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (22.70) | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | Maximum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 16.16 | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial real estate | Weighted Average | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 9.39 | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 10 | |
Fair Value Measurements Valuation Technique(s) Description | Sales Comparison | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial | Minimum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (18.61) | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial | Maximum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 28.25 | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Commercial | Weighted Average | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (7.66) | |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 1,346 | $ 740 |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Minimum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | (15.76) | (15.67) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Maximum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 27.92 | 27.92 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Residential Real Estate | Weighted Average | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 3.03 | 0.53 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | ||
Fair value measurements for financial instruments | ||
Recorded Investment | $ 15 | $ 2 |
Fair Value Measurements Valuation Technique(s) Description | Sales comparison | Sales comparison |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Minimum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 12.04 | (21.98) |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Maximum | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 12.04 | 21.98 |
Fair Value, Measurements, Nonrecurring | Sales Comparison Valuation | Consumer | Weighted Average | Measurement Input Comparability Adjustment | ||
Fair value measurements for financial instruments | ||
Adjustment for differences between earning multiplier and comparable sales, Percent | 0 | 0 |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Financial assets | ||||
Cash and cash equivalents, Carrying Amount | $ 75,635 | $ 57,614 | $ 84,006 | $ 41,778 |
Restricted stock, Carrying Amount | 11,647 | 10,491 | ||
Loans held for sale, Carrying Amount | 1,428 | 272 | ||
Loans, net, Carrying Amount | 1,678,155 | 1,565,066 | ||
Accrued interest receivable, Carrying Amount | 7,377 | 6,669 | ||
Financial liabilities | ||||
Deposits, Carrying Amount | 1,758,711 | 1,604,719 | ||
Short-term borrowings, Carrying Amount | 264,059 | 289,565 | ||
Long-term borrowings | 6,214 | 6,994 | ||
Accrued interest payable, Carrying Amount | 898 | 633 | ||
Fair Value, Measurements, Recurring | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 75,635 | 57,614 | ||
Loans held for sale, Fair Value | 1,471 | 283 | ||
Loans, net, Fair Value | 1,630,224 | 1,569,381 | ||
Accrued interest receivable, Fair Value | 7,377 | 6,669 | ||
Financial liabilities | ||||
Deposits, Fair Value | 1,751,603 | 1,600,160 | ||
Short-term borrowings, Fair Value | 264,059 | 289,565 | ||
Long-term borrowings, Fair Value | 5,968 | 6,690 | ||
Accrued interest payable, Fair value | 898 | 633 | ||
Fair Value, Measurements, Recurring | Level 1 | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 19,652 | 17,785 | ||
Loans held for sale, Fair Value | 0 | 0 | ||
Loans, net, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 0 | 0 | ||
Financial liabilities | ||||
Deposits, Fair Value | 1,451,980 | 1,340,814 | ||
Short-term borrowings, Fair Value | 0 | 0 | ||
Long-term borrowings, Fair Value | 0 | 0 | ||
Accrued interest payable, Fair value | 69 | 46 | ||
Fair Value, Measurements, Recurring | Level 2 | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 55,983 | 39,829 | ||
Loans held for sale, Fair Value | 1,471 | 283 | ||
Loans, net, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 2,321 | 2,255 | ||
Financial liabilities | ||||
Deposits, Fair Value | 299,623 | 259,346 | ||
Short-term borrowings, Fair Value | 264,059 | 289,565 | ||
Long-term borrowings, Fair Value | 5,968 | 6,690 | ||
Accrued interest payable, Fair value | 829 | 587 | ||
Fair Value, Measurements, Recurring | Level 3 | ||||
Financial assets | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Loans held for sale, Fair Value | 0 | 0 | ||
Loans, net, Fair Value | 1,630,224 | 1,569,381 | ||
Accrued interest receivable, Fair Value | 5,056 | 4,414 | ||
Financial liabilities | ||||
Deposits, Fair Value | 0 | 0 | ||
Short-term borrowings, Fair Value | 0 | 0 | ||
Long-term borrowings, Fair Value | 0 | 0 | ||
Accrued interest payable, Fair value | $ 0 | $ 0 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||||
Goodwill and other intangibles | $ 44,305 | $ 44,305 | $ 45,369 | ||
Total assets | 2,292,678 | 2,292,678 | 2,159,069 | ||
Net interest income | 19,919 | $ 18,675 | 58,427 | $ 54,579 | |
Provision for loan losses | 950 | 950 | 2,475 | 2,950 | |
Service fees, security gains and other noninterest income | 6,478 | 6,058 | 18,794 | 18,000 | |
Noninterest expense | 15,439 | 14,926 | 44,493 | 43,536 | |
Amortization and depreciation expense | 741 | 865 | 2,241 | 2,632 | |
INCOME BEFORE INCOME TAXES | 9,267 | 7,992 | 28,012 | 23,461 | |
Income taxes | 1,183 | 2,009 | 4,129 | 5,985 | |
NET INCOME | 8,084 | 5,983 | 23,883 | 17,476 | |
Eliminations And Others | |||||
Segment Reporting Information [Line Items] | |||||
Goodwill and other intangibles | (822) | (822) | (822) | ||
Total assets | 4,661 | 4,661 | 3,935 | ||
Net interest income | (26) | (21) | (67) | (64) | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Service fees, security gains and other noninterest income | (89) | (34) | (214) | (182) | |
Noninterest expense | 276 | 319 | 761 | 531 | |
Amortization and depreciation expense | 13 | 13 | 38 | 37 | |
INCOME BEFORE INCOME TAXES | (404) | (387) | (1,080) | (814) | |
Income taxes | (101) | (203) | (346) | (527) | |
NET INCOME | (303) | (184) | (734) | (287) | |
Trust Segment | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Goodwill and other intangibles | 4,256 | 4,256 | 4,426 | ||
Total assets | 11,034 | 11,034 | 11,261 | ||
Net interest income | 39 | 29 | 104 | 81 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Service fees, security gains and other noninterest income | 1,862 | 1,638 | 5,484 | 4,895 | |
Noninterest expense | 1,208 | 1,154 | 3,640 | 3,619 | |
Amortization and depreciation expense | 62 | 69 | 187 | 208 | |
INCOME BEFORE INCOME TAXES | 631 | 444 | 1,761 | 1,149 | |
Income taxes | 132 | 156 | 370 | 402 | |
NET INCOME | 499 | 288 | 1,391 | 747 | |
Bank Segment | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Goodwill and other intangibles | 38,364 | 38,364 | 39,120 | ||
Total assets | 2,273,904 | 2,273,904 | 2,140,508 | ||
Net interest income | 19,906 | 18,667 | 58,390 | 54,562 | |
Provision for loan losses | 950 | 950 | 2,475 | 2,950 | |
Service fees, security gains and other noninterest income | 4,235 | 3,974 | 12,210 | 11,895 | |
Noninterest expense | 13,611 | 13,110 | 39,047 | 38,304 | |
Amortization and depreciation expense | 617 | 718 | 1,866 | 2,196 | |
INCOME BEFORE INCOME TAXES | 8,963 | 7,863 | 27,212 | 23,007 | |
Income taxes | 1,136 | 2,031 | 4,080 | 6,068 | |
NET INCOME | 7,827 | 5,832 | 23,132 | 16,939 | |
Retirement Consulting Segment | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Goodwill and other intangibles | 2,507 | 2,507 | 2,645 | ||
Total assets | 3,079 | 3,079 | $ 3,365 | ||
Net interest income | 0 | 0 | 0 | 0 | |
Provision for loan losses | 0 | 0 | 0 | 0 | |
Service fees, security gains and other noninterest income | 470 | 480 | 1,314 | 1,392 | |
Noninterest expense | 344 | 343 | 1,045 | 1,082 | |
Amortization and depreciation expense | 49 | 65 | 150 | 191 | |
INCOME BEFORE INCOME TAXES | 77 | 72 | 119 | 119 | |
Income taxes | 16 | 25 | 25 | 42 | |
NET INCOME | $ 61 | $ 47 | $ 94 | $ 77 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||||
Goodwill associated with the Company's purchase and other past acquisitions | $ 38,201 | $ 38,201 | $ 38,201 | ||
Aggregate amortization expense | $ 354 | $ 379 | $ 1,063 | $ 1,108 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Acquired intangible assets | ||
Gross Carrying Amount | $ 14,414 | $ 14,414 |
Accumulated Amortization | (8,310) | (7,246) |
Customer Relationships | ||
Acquired intangible assets | ||
Gross Carrying Amount | 7,210 | 7,210 |
Accumulated Amortization | (5,341) | (4,919) |
Non-compete contracts | ||
Acquired intangible assets | ||
Gross Carrying Amount | 430 | 430 |
Accumulated Amortization | (379) | (376) |
Trade Name | ||
Acquired intangible assets | ||
Gross Carrying Amount | 520 | 520 |
Accumulated Amortization | (216) | (175) |
Core Deposits | ||
Acquired intangible assets | ||
Gross Carrying Amount | 6,254 | 6,254 |
Accumulated Amortization | $ (2,374) | $ (1,776) |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Finite Lived Intangible Assets Future Amortization Expense [Abstract] | ||
2018 (Three months) | $ 353 | |
2,019 | 1,306 | |
2,020 | 1,203 | |
2,021 | 1,142 | |
2,022 | 1,025 | |
Thereafter | 1,075 | |
TOTAL | $ 6,104 | $ 7,168 |
Short-term borrowings (Details
Short-term borrowings (Details Textual) | Sep. 30, 2018USD ($)Institution | Dec. 31, 2017USD ($)Institution |
Short Term Debt [Line Items] | ||
Short-term Federal Home Loan Banks advances | $ 255,000,000 | $ 215,000,000 |
Securities sold under repurchase agreements | 8,700,000 | 74,200,000 |
Federal funds purchased | 0 | 0 |
Business line of credit | $ 350,000 | $ 350,000 |
Number of lending institutions | Institution | 1 | 1 |
Weighted Average | ||
Short Term Debt [Line Items] | ||
Weighted average interest rate | 2.27% |
Short-term borrowings (Details)
Short-term borrowings (Details) - Repurchase agreement - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | $ 9,144 | $ 77,926 |
U.S. Treasury and U.S. government sponsored entities | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 574 | 5,051 |
State and political subdivisions | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 2,934 | 21,731 |
Mortgage-backed securities - residential | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | 5,102 | 46,133 |
Collateralized mortgage obligations - residential | ||
Assets Sold Under Agreements To Repurchase [Line Items] | ||
Total repurchase agreements | $ 534 | $ 5,011 |