Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 02, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | Colony Bankcorp Inc | |
Entity Central Index Key | 711,669 | |
Trading Symbol | cban | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 8,439,258 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and Due from Banks | $ 19,071 | $ 28,822 |
Interest-Bearing Deposits | 10,988 | 46,345 |
Available for Sale, at Fair Value | 337,710 | 323,658 |
Federal Home Loan Bank Stock, at Cost | 3,255 | 3,010 |
Loans | 775,566 | 754,283 |
Allowance for Loan Losses | (8,043) | (8,923) |
Unearned Interest and Fees | (454) | (361) |
767,069 | 744,999 | |
Premises and Equipment | 27,654 | 27,969 |
Other Real Estate (Net of Allowance of $1,350 and $1,878 as of June 30, 2017 and December 31, 2016, Respectively) | 4,525 | 6,439 |
Other Intangible Assets | 63 | 81 |
Other Assets | 28,114 | 29,119 |
Total Assets | 1,198,449 | 1,210,442 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Noninterest-Bearing | 162,928 | 159,059 |
Interest-Bearing | 863,610 | 885,298 |
1,026,538 | 1,044,357 | |
Borrowed Money | ||
Subordinated Debentures | 24,229 | 24,229 |
Other Borrowed Money | 56,000 | 46,000 |
80,229 | 70,229 | |
Other Liabilities | 2,690 | 2,468 |
Stockholders' Equity | ||
Preferred Stock, Stated Value $1,000 a Share; Authorized 10,000,000 Shares, Issued Shares of 0 and 9,360 as of June 30, 2017 and December 31, 2016, Respectively | 9,360 | |
Common Stock, Par Value $1 a Share; Authorized 20,000,000 Shares, Issued 8,439,258 Shares as of June 30, 2017 and December 31, 2016 | 8,439 | 8,439 |
Paid-In Capital | 29,145 | 29,145 |
Retained Earnings | 55,383 | 51,466 |
Accumulated Other Comprehensive (Loss), Net of Tax Benefits | (3,975) | (5,022) |
88,992 | 93,388 | |
Total Liabilities and Stockholders' Equity | $ 1,198,449 | $ 1,210,442 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other Real Estate, Allowance | $ 1,350 | $ 1,878 |
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 9,360 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 8,439,258 | 8,439,258 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest Income | ||||
Loans, Including Fees | $ 9,733 | $ 9,693 | $ 19,130 | $ 19,325 |
Deposits with Other Banks | 34 | 23 | 114 | 61 |
Investment Securities | ||||
U.S. Government Agencies | 1,685 | 1,359 | 3,248 | 2,712 |
State, County and Municipal | 30 | 33 | 60 | 67 |
Corporate Debt | 21 | 36 | ||
Dividends on Other Investments | 35 | 33 | 71 | 65 |
11,538 | 11,141 | 22,659 | 22,230 | |
Interest Expense | ||||
Deposits | 1,177 | 1,189 | 2,368 | 2,393 |
Federal Funds Purchased | 3 | 3 | ||
Borrowed Money | 542 | 427 | 1,010 | 856 |
1,722 | 1,616 | 3,381 | 3,249 | |
Net Interest Income | 9,816 | 9,525 | 19,278 | 18,981 |
Provision for Loan Losses | 354 | 335 | 708 | |
Net Interest Income After Provision for Loan Losses | 9,816 | 9,171 | 18,943 | 18,273 |
Noninterest Income | ||||
Service Charges on Deposits | 1,091 | 1,055 | 2,146 | 2,057 |
Other Service Charges, Commissions and Fees | 772 | 714 | 1,559 | 1,418 |
Mortgage Fee Income | 202 | 153 | 388 | 253 |
Securities Gains (Losses) | 127 | 129 | ||
Other | 329 | 303 | 701 | 667 |
2,394 | 2,352 | 4,794 | 4,524 | |
Noninterest Expenses | ||||
Salaries and Employee Benefits | 4,880 | 4,625 | 9,665 | 9,099 |
Occupancy and Equipment | 991 | 978 | 1,951 | 1,942 |
Other | 2,749 | 2,751 | 5,412 | 5,548 |
8,620 | 8,354 | 17,028 | 16,589 | |
Income Before Income Taxes | 3,590 | 3,169 | 6,709 | 6,208 |
Income Taxes | 1,157 | 1,002 | 2,159 | 1,980 |
Net Income | 2,433 | 2,167 | 4,550 | 4,228 |
Preferred Stock Dividends | 406 | 211 | 811 | |
Net Income Available to Common Stockholders | $ 2,433 | $ 1,761 | $ 4,339 | $ 3,417 |
Net Income Per Share of Common Stock | ||||
Basic (in dollars per share) | $ 0.29 | $ 0.21 | $ 0.51 | $ 0.40 |
Diluted (in dollars per share) | 0.28 | 0.21 | 0.50 | 0.40 |
Cash Dividends Declared Per Share of Common Stock (in dollars per share) | $ 0.025 | $ 0.05 | ||
Weighted Average Basic Shares Outstanding (in shares) | 8,439,258 | 8,439,258 | 8,439,258 | 8,439,258 |
Weighted Average Diluted Shares Outstanding (in shares) | 8,630,207 | 8,497,618 | 8,632,465 | 8,490,540 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net Income | $ 2,433 | $ 2,167 | $ 4,550 | $ 4,228 |
Other Comprehensive Income: | ||||
Gains (Losses) on Securities Arising During the Year | 1,377 | 1,886 | 1,586 | 7,087 |
Tax Effect | (468) | (641) | (539) | (2,410) |
Realized Gains on Sale of AFS Securities | (127) | (129) | ||
Tax Effect | 43 | 44 | ||
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | 909 | 1,161 | 1,047 | 4,592 |
Comprehensive Income | $ 3,342 | $ 3,328 | $ 5,597 | $ 8,820 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ 4,550,000 | $ 4,228,000 |
Adjustments to Reconcile Net Income to Net Cash | ||
Depreciation | 823,000 | 771,000 |
Provision for Loan Losses | 335,000 | 708,000 |
Securities (Gains) | (129,000) | |
Amortization and Accretion | 750,000 | 750,000 |
(Gain) on Sale of Other Real Estate and Repossessions | (93,000) | (31,000) |
Provision for Losses on Other Real Estate | 206,000 | 78,000 |
Increase in Cash Surrender Value of Life Insurance | (305,000) | (313,000) |
(Gain) Loss on Sale of Premises & Equipment | (15,000) | 77,000 |
Other Prepaids, Deferrals and Accruals, Net | 1,080,000 | 498,000 |
7,331,000 | 6,637,000 | |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of Investment Securities Available for Sale | (41,269,000) | (46,069,000) |
Proceeds from Maturities, Calls, and Paydowns of Investment Securities: | ||
Proceeds from Maturities, Calls, and Paydowns of Investment Securities: Available for Sale | 28,074,000 | 24,656,000 |
Proceeds from Sale of Investment Securities Available for Sale | 0 | 16,010,000 |
Interest-Bearing Deposits in Other Banks | 35,357,000 | 37,151,000 |
Net Loans to Customers | (22,848,000) | (8,724,000) |
Purchase of Premises and Equipment | (531,000) | (1,795,000) |
Proceeds from Sale of Other Real Estate and Repossessions | 2,259,000 | 1,873,000 |
Federal Home Loan Bank Stock | (245,000) | (24,000) |
Proceeds from Sale of Premises and Equipment | 38,000 | 14,000 |
835,000 | 23,092,000 | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Noninterest-Bearing Customer Deposits | 3,869,000 | 776,000 |
Interest-Bearing Customer Deposits | (21,688,000) | (35,763,000) |
Dividends Paid for Preferred Stock | (316,000) | (811,000) |
Dividends Paid for Common Stock | (422,000) | |
Redemption of Preferred Stock | (9,360,000) | |
Payments on Other Borrowed Money | (16,000) | |
Proceeds from Federal Home Loan Bank Advances | 5,000,000 | |
Proceeds from Other Borrowed Money | 5,016,000 | |
(17,917,000) | (35,798,000) | |
Net Decrease in Cash and Cash Equivalents | (9,751,000) | (6,069,000) |
Cash and Cash Equivalents at Beginning of Period | 28,822,000 | 22,257,000 |
Cash and Cash Equivalents at End of Period | $ 19,071,000 | $ 16,188,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 ) Summary of Significant Accounting Policies Presentation Colony Bankcorp, Inc. (the Company) is a bank holding company located in Fitzgerald, Georgia. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Colony Bank, Fitzgerald, Georgia (the Bank). All significant intercompany accounts have been eliminated in consolidation. The accounting and reporting policies of the Company conform to generally accepted accounting principles and practices utilized in the commercial banking industry. All dollars in notes to consolidated financial statements are rounded to the nearest thousand, except for per share amounts. The consolidated financial statements in this report are unaudited, except for the December 31, 2016 six June 30, 2017 not may Nature of Operations The Bank provides a full range of retail and commercial banking services for consumers and small- to medium-size businesses located primarily in central, south and coastal Georgia. The Bank is headquartered in Fitzgerald, Georgia with banking offices in Albany, Ashburn, Broxton, Centerville, Columbus, Cordele, Douglas, Eastman, Fitzgerald, Leesburg, Moultrie, Quitman, Rochelle, Savannah, Soperton, Sylvester, Statesboro, Thomaston, Tifton, Valdosta and Warner Robins. Lending and investing activities are funded primarily by deposits gathered through its retail banking office network. Use of Estimates In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. Reclassifications In certain instances, amounts reported in prior years’ consolidated financial statements have been reclassified to conform to statement presentations selected for 2017. not Concentrations of Credit Risk Concentrations of credit risk can exist in relation to individual borrowers or groups of borrowers, certain types of collateral, certain types of industries, or certain geographic regions. The Company has a concentration in real estate loans as well as a geographic concentration that could pose an adverse credit risk. At June 30, 2017, 87 The success of the Company is dependent, to a certain extent, upon the economic conditions in the geographic markets it serves. Adverse changes in the economic conditions in these geographic markets would likely have a material adverse effect on the Company’s results of operations and financial condition. The operating results of the Company depend primarily on its net interest income. Accordingly, operations are subject to risks and uncertainties surrounding the exposure to changes in the interest rate environment. At times, the Company may Investment Securities The Company classifies its investment securities as trading, available for sale or held to maturity. Securities that are held principally for resale in the near term are classified as trading. Trading securities are carried at fair value, with realized and unrealized gains and losses included in noninterest income. Currently, no not may The Company evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI). In estimating other-than-temporary impairment losses, management considers such factors as the length of time and the extent to which the market value has been below cost, the financial condition of the issuer and the Company’s intent to sell and whether it is more likely than not not not not not Federal Home Loan Bank Stock Investment in stock of a Federal Home Loan Bank (FHLB) is Loans Loans that the Company has the ability and intent to hold for the foreseeable future or until maturity are recorded at their principal amount outstanding, net of unearned interest and fees. Loan origination fees, net of certain direct origination costs, are deferred and amortized over the estimated terms of the loans using the straight-line method. Interest income on loans is recognized using the effective interest method. A loan is considered to be delinquent when payments have not When management believes there is sufficient doubt as to the collectability of principal or interest on any loan or generally when loans are 90 no Loans Modified in a Troubled Debt Restructuring (TDR) Loans are considered to have been modified in a TDR when, due to a borrower’s financial difficulty, the Company makes certain concessions to the borrower that it would not may 6 may may six not Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the inability to collect a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific, historical and general components. The specific component relates to loans that are classified as either doubtful, substandard or special mention. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan are lower than the carrying value of that loan. The historical component covers nonclassified loans and is based on historical loss experience adjusted for qualitative factors. A general component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The general component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and historical losses in the portfolio. General valuation allowances are based on internal and external qualitative risk factors such as ( 1 2 3 4 5 6 7 8 9 Loans identified as losses by management, internal loan review and/or regulatory agencies are charged off. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A significant portion of the Company’s impaired loans are deemed to be collateral dependent. Management therefore measures impairment on these loans based on the fair value of the collateral. Collateral values are determined based on appraisals performed by qualified licensed appraisers hired by the Company or by senior members of the Company’s credit administration staff. The decision whether or not third may third may 10 not may 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 typically significant and result in a level 3 Premises and Equipment Premises and equipment are recorded at acquisition cost net of accumulated depreciation. Depreciation is charged to operations over the estimated useful lives of the assets. The estimated useful lives and methods of depreciation are as follows: Description Life in Years Method . Banking Premises 15 - 40 Straight-Line and Accelerated Furniture and Equipment 5 - 10 Straight-Line and Accelerated Expenditures for major renewals and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. When property and equipment are retired or sold, the cost and accumulated depreciation are removed from the respective accounts and any gain or loss is reflected in other income or expense. Intangible Assets Intangible assets consist of core deposit intangibles acquired in connection with a business combination. The core deposit intangible is initially recognized based on a valuation performed as of the consummation date. The core deposit intangible is amortized by the straight-line method over the average remaining life of the acquired customer deposits. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not Statement of Cash Flows For reporting cash flows, cash and cash equivalents include cash on hand, noninterest-bearing amounts due from banks and federal funds sold. Cash flows from demand deposits, interest-bearing checking accounts, savings accounts, loans and certificates of deposit are reported net. Advertising Costs The Company expenses the cost of advertising in the periods in which those costs are incurred. Income Taxes The provision for income taxes is based upon income for financial statement purposes, adjusted for nontaxable income and nondeductible expenses. Deferred income taxes have been provided when different accounting methods have been used in determining income for income tax purposes and for financial reporting purposes. Deferred tax assets and liabilities are recognized based on future tax consequences attributable to differences arising from the financial statement carrying values of assets and liabilities and their tax bases. The differences relate primarily to depreciable assets (use of different depreciation methods for financial statement and income tax purposes) and allowance for loan losses (use of the allowance method for financial statement purposes and the direct write-off method for tax purposes). In the event of changes in the tax laws, deferred tax assets and liabilities are adjusted in the period of the enactment of those changes, with effects included in the income tax provision. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not Positions taken in the Company’s tax returns may not 50 may first Other Real Estate Other real estate generally represents real estate acquired through foreclosure and is initially recorded at estimated fair value at the date of acquisition less the cost of disposal. Losses from the acquisition of property in full or partial satisfaction of debt are recorded as loan losses. Properties are evaluated regularly to ensure the recorded amounts are supported by current fair values, and valuation allowances are recorded as necessary to reduce the carrying amount to fair value less estimated cost of disposal. Routine holding costs and gains or losses upon disposition are included in other noninterest expense. Bank-Owned Life Insurance The Company has purchased life insurance on the lives of certain key members of management and directors. The life insurance policies are recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement, if applicable. Increases in the cash surrender value are recorded as other income in the consolidated statements of income. The cash surrender value of the insurance contracts is recorded in other assets on the consolidated balance sheets in the amount of $15,724 $15,419 June 30, 2017 December 31, 2016, Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities available for sale, represent equity changes from economic events of the period other than transactions with owners and are not Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Company has entered into commitments to extend credit, commercial letters of credit and standby letters of credit. Such financial instruments are recorded when they are funded. Changes in Accounting Principles and Effects of New Accounting Pronouncements ASU 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 2014 09 five may 2014 09, one 2015 14, first 2018. 2014 09 ASU 2016 01, Financial Instruments – Overall (Subtopic 825 10 2016 01, 2016 01 January 1, 2018. 2016 01 ASU 2016 02, Leases (Topic 842 . December 15, 2018, ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, ASU 2016 15, Statement of Cash Flows (Topic 230 2016 15 2016 15 January 1, 2018 not ASU 2016 18, Statement of Cash Flows (Topic 230 2016 18 requires restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The adoption of this guidance will only affect the Consolidated Statements of Cash Flows. ASU 2016 18 December 15, 2017 not ASU 2017 08, Premium Amortization on Purchased Callable Debt Securities. This ASU shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not No. 2017 08 December 15, 2018; first No. 2017 08 |
Note 2 - Investment Securities
Note 2 - Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 2 Investment securities as of June 30, 2017 December 31, 2016 June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale: U. S. Government Agencies Mortgage-Backed $ 336,786 $ 204 $ (6,248 ) $ 330,742 State, County & Municipal 4,891 40 (27 ) 4,904 Corporate Bonds 2,056 8 - 2,064 $ 343,733 $ 252 $ (6,275 ) $ 337,710 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale: U. S. Government Agencies Mortgage-Backed $ 326,694 $ 76 $ (7,673 ) $ 319,097 State, County & Municipal 4,573 18 (30 ) 4,561 $ 331,267 $ 94 $ (7,703 ) $ 323,658 The amortized cost and fair value of investment securities as of June 30, 2017, may may Securities Available for Sale Amortized Cost Fair Value Due In One Year or Less $ 665 $ 667 Due After One Year Through Five Years 4,535 4,524 Due After Five Years Through Ten Years 1,053 1,077 Due After Ten Years 694 700 $ 6,947 $ 6,968 Mortgage-Backed Securities 336,786 330,742 $ 343,733 $ 337,710 The Bank did not first six 2017. not first six 2017. $16,010 first six 2016. first six 2016 $135 $6. Investment securities having a carrying value approximating $147,765 $144,854 June 30, 2017 December 31, 2016, Information pertaining to securities with gross unrealized losses at June 30, 2017 December 31, 2016 Less Than 12 Months 12 Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses June 30, 2017 U. S. Government Agencies Mortgage-Backed $ 170,412 $ (2,499 ) $ 108,285 $ (3,749 ) $ 278,697 $ (6,248 ) State, County and Municipal 1,776 (27 ) - - 1,776 (27 ) $ 172,188 $ (2,526 ) $ 108,285 $ (3,749 ) $ 280,473 $ (6,275 ) December 31. 2016 U.S. Government Agencies Mortgage-Backed $ 174,201 $ (3,460 ) $ 107,482 $ (4,213 ) $ 281,683 $ (7,673 ) State, County and Municipal 3,488 (30 ) - - 3,488 (30 ) $ 177,689 $ (3,490 ) $ 107,482 $ (4,213 ) $ 285,171 $ (7,703 ) Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to ( 1 2 3 At June 30, 2017, 108 2.19 no |
Note 3 - Loans
Note 3 - Loans | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 3 Loans The following table presents the composition of loans segregated by class of loans, as of June 30, 2017 December 31, 2016. June 30, 2017 December 31, 2016 Commercial and Agricultural Commercial $ 44,883 $ 47,025 Agricultural 21,810 17,080 Real Estate Commercial Construction 35,151 30,358 Residential Construction 9,230 11,830 Commercial 355,801 349,090 Residential 200,572 195,580 Farmland 70,194 66,877 Consumer and Other Consumer 19,134 19,695 Other 18,791 16,748 Total Loans $ 775,566 $ 754,283 Commercial and industrial loans are extended to a diverse group of businesses within the Company’s market area. These loans are often underwritten based on the borrower’s ability to service the debt from income from the business. Real estate construction loans often require loan funds to be advanced prior to completion of the project. Due to uncertainties inherent in estimating construction costs, changes in interest rates and other economic conditions, these loans often pose a higher risk than other types of loans. Consumer loans are originated at the Bank level. These loans are generally smaller loan amounts spread across many individual borrowers to help minimize risk. Credit Quality Indicators The Company uses a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of 1 8. ● Grades 1 2 may ● Grades 3 4 no one ● Grade 5 ● Grade 6 ● Grades 7 8 no 6. The following table presents the loan portfolio by credit quality indicator (risk grade) as of June 30, 2017 December 31, 2016. 1, 2, 3 4 June 30, 2017, not June 30, 2017 Pass Special Mention Substandard Total Loans Commercial and Agricultural Commercial $ 42,156 $ 1,864 $ 863 $ 44,883 Agricultural 21,110 163 537 21,810 Real Estate Commercial Construction 31,324 1,211 2,616 35,151 Residential Construction 9,031 - 199 9,230 Commercial 341,986 4,158 9,657 355,801 Residential 185,981 3,636 10,955 200,572 Farmland 68,144 1,102 948 70,194 Consumer and Other Consumer 18,649 114 371 19,134 Other 18,791 - - 18,791 Total Loans $ 737,172 $ 12,248 $ 26,146 $ 775,566 December 31, 2016 Pass Special Mention Substandard Total Loans Commercial and Agricultural Commercial $ 44,250 $ 1,862 $ 913 $ 47,025 Agricultural 16,586 192 302 17,080 Real Estate Commercial Construction 28,425 1,349 584 30,358 Residential Construction 11,630 - 200 11,830 Commercial 327,561 9,403 12,126 349,090 Residential 178,618 5,659 11,303 195,580 Farmland 65,075 839 963 66,877 Consumer and Other Consumer 19,072 226 397 19,695 Other 16,748 - - 16,748 Total Loans $ 707,965 $ 19,530 $ 26,788 $ 754,283 A loan’s risk grade is assigned at the inception of the loan and is based on the financial strength of the borrower and the type of collateral. Loan risk grades are subject to reassessment at various times throughout the year as part of the Company’s ongoing loan review process. Loans with an assigned risk grade of 6 $250,000 may not In assessing the overall economic condition of the markets in which it operates, the Company monitors the unemployment rates for its major service areas. The unemployment rates are reviewed on a quarterly basis as part of the allowance for loan loss determination. Loans are considered past due if the required principal and interest payments have not 90 may may not The following table represents an age analysis of past due loans and nonaccrual loans, segregated by class of loans, as of June 30, 2017 December 31, 2016: June 30, 2017 Accruing Loans 90 Days 30-89 Days or More Total Accruing Nonaccrual Past Due Past Due Loans Past Due Loans Current Loans Total Loans Commercial and Agricultural Commercial $ 615 $ - $ 615 $ 608 $ 43,660 $ 44,883 Agricultural 202 - 202 348 21,260 21,810 Real Estate Commercial Construction 792 - 792 102 34,257 35,151 Residential Construction - - - 199 9,031 9,230 Commercial 1,233 - 1,233 3,079 351,489 355,801 Residential 2,984 - 2,984 3,013 194,575 200,572 Farmland 187 - 187 678 69,329 70,194 Consumer and Other Consumer 205 - 205 149 18,780 19,134 Other - - - - 18,791 18,791 Total Loans $ 6,218 $ - $ 6,218 $ 8,176 $ 761,172 $ 775,566 December 31, 2016 Accruing Loans 90 Days 30-89 Days or More Total Accruing Nonaccrual Past Due Past Due Loans Past Due Loans Current Loans Total Loans Commercial and Agricultural Commercial $ 420 $ - $ 420 $ 635 $ 45,970 $ 47,025 Agricultural 33 - 33 209 16,838 17,080 Real Estate Commercial Construction 54 - 54 190 30,114 30,358 Residential Construction - - - - 11,830 11,830 Commercial 492 - 492 6,360 342,238 349,090 Residential 3,179 - 3,179 3,944 188,457 195,580 Farmland 95 - 95 800 65,982 66,877 Consumer and Other Consumer 196 - 196 212 19,287 19,695 Other - - - - 16,748 16,748 Total Loans $ 4,469 $ - $ 4,469 $ 12,350 $ 737,464 $ 754,283 The following table details impaired loan data as of June 30, 2017: June 30, 2017 Unpaid Contractual Average Interest Interest Principal Impaired Related Recorded Income Income Balance Balance Allowance Investment Recognized Collected With No Related Allowance Recorded Commercial $ 608 $ 608 $ - $ 639 $ 11 $ 15 Agricultural 370 349 - 254 11 13 Commercial Construction 102 102 - 159 1 1 Residential Construction 199 199 66 5 5 Commercial Real Estate 10,454 10,454 - 13,543 226 222 Residential Real Estate 5,667 4,871 - 4,511 98 115 Farmland 679 678 - 759 56 56 Consumer 149 149 - 188 3 3 Other - - - - - - 18,228 17,410 - 20,119 411 430 With An Allowance Recorded Commercial - - - - - - Agricultural - - - - - - Commercial Construction 71 71 4 72 2 2 Residential Construction - - - - - - Commercial Real Estate 7,169 7,169 1,517 6,714 135 134 Residential Real Estate 49 41 20 755 (2 ) 2 Farmland 376 376 26 378 11 11 Consumer - - - - - - Other - - - - - - 7,665 7,657 1,567 7,919 146 149 Total Commercial 608 608 - 639 11 15 Agricultural 370 349 - 254 11 13 Commercial Construction 173 173 4 231 3 3 Residential Construction 199 199 - 66 5 5 Commercial Real Estate 17,623 17,623 1,517 20,257 361 356 Residential Real Estate 5,716 4,912 20 5,266 96 117 Farmland 1,055 1,054 26 1,137 67 67 Consumer 149 149 - 188 3 3 Other - - - - - - $ 25,893 $ 25,067 $ 1,567 $ 28,038 $ 557 $ 579 The following table details impaired loan data as of December 31, 2016: December 31, 2016 Unpaid Contractual Average Interest Interest Principal Impaired Related Recorded Income Income Balance Balance Allowance Investment Recognized Collected With No Related Allowance Recorded Commercial $ 635 $ 635 $ - $ 539 $ 24 $ 27 Agricultural 229 209 - 210 9 12 Commercial Construction 191 191 - 698 7 7 Commercial Real Estate 14,358 14,276 - 14,275 567 560 Residential Real Estate 4,261 3,952 - 4,553 73 191 Farmland 921 799 - 1,016 22 26 Consumer 212 212 - 213 10 12 20,807 20,274 - 21,504 712 835 With An Allowance Recorded Commercial - - - 30 - - Agricultural - - - - - - Commercial Construction 72 72 21 74 1 2 Commercial Real Estate 8,557 8,467 3,022 8,340 239 236 Residential Real Estate 1,476 1,468 363 1,043 28 32 Farmland 380 380 29 384 21 21 Consumer - - - - - - 10,485 10,387 3,435 9,871 289 291 Total Commercial 635 635 - 569 24 27 Agricultural 229 209 - 210 9 12 Commercial Construction 263 263 21 772 8 9 Commercial Real Estate 22,915 22,743 3,022 22,615 806 796 Residential Real Estate 5,737 5,420 363 5,596 101 223 Farmland 1,301 1,179 29 1,400 43 47 Consumer 212 212 - 213 10 12 $ 31,292 $ 30,661 $ 3,435 $ 31,375 $ 1,001 $ 1,126 The following table details impaired loan data as of June 30, 2016: June 30, 2016 Unpaid Contractual Average Interest Interest Principal Impaired Related Recorded Income Income Balance Balance Allowance Investment Recognized Collected With No Related Allowance Recorded Commercial $ 460 $ 460 $ - $ 472 $ 4 $ 5 Agricultural 213 192 - 188 9 13 Commercial Construction 453 428 - 930 8 7 Residential Construction - - - - - Commercial Real Estate 16,383 15,615 - 13,577 271 270 Residential Real Estate 5,227 4,956 - 4,606 (7 ) 119 Farmland 935 933 - 1,121 (3 ) 1 Consumer 248 240 205 4 6 Other - - - - - - 23,919 22,824 - 21,099 286 421 With An Allowance Recorded Commercial - - - 50 - - Agricultural - - - - - - Commercial Construction 74 74 22 75 - - Residential Construction - - - - - - Commercial Real Estate 8,709 8,695 2,886 8,305 127 124 Residential Real Estate 864 856 440 965 3 3 Farmland 384 384 33 386 10 11 Consumer - - - - - - Other - - - - - - 10,031 10,009 3,381 9,781 140 138 Total Commercial 460 460 - 522 4 5 Agricultural 213 192 - 188 9 13 Commercial Construction 527 502 22 1,005 8 7 Residential Construction - - - - - - Commercial Real Estate 25,092 24,310 2,886 21,882 398 394 Residential Real Estate 6,091 5,812 440 5,571 (4 ) 122 Farmland 1,319 1,317 33 1,507 7 12 Consumer 248 240 - 205 4 6 Other - - - - - - $ 33,950 $ 32,833 $ 3,381 $ 30,880 $ 426 $ 559 TDRs are troubled loans on which the original terms of the loan have been modified in favor of the borrower due to deterioration in the borrower’s financial condition. Each potential loan modification is reviewed individually and the terms of the loan are modified to meet the borrower’s specific circumstances at a point in time. Not ● Interest rate reductions – Occur when the stated interest rate is reduced to a nonmarket rate or a rate the borrower would not ● Amortization or maturity date changes – Result when the amortization period of the loan is extended beyond what is considered a normal amortization period for loans of similar type with similar collateral. ● Principal reductions – These are often the result of commercial real estate loan workouts where two no no As discussed in Note 1, no June 30, 2017. three six June 30, 2017 2016. twelve 90 may six not Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Troubled Debt Restructurings # of Contracts Pre-Modification Post-Modification # of Contracts Pre-Modification Post-Modification Residential Real Estate - $ - $ - - $ - $ - Total Loans - $ - $ - - $ - $ - Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Troubled Debt Restructurings # of Contracts Pre-Modification Post-Modification # of Contracts Pre-Modification Post-Modification Residential Real Estate 1 $ 91 $ 91 1 $ 91 $ 91 Total Loans 1 $ 91 $ 91 1 $ 91 $ 91 The company did not three six June 30, 2017. |
Note 4 - Allowance for Loan Los
Note 4 - Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | ( 4 ) Allowance for Loan Losses The following tables detail activity in the allowance for loan losses, segregated by class of loan, for the six June 30, 2017 and June 30, 2016. one not may June 30, 2017 Beginning Ending Balance Charge-Offs Recoveries Provision Balance Commercial and Agricultural Commercial $ 456 $ (124 ) $ 100 $ (7 ) $ 425 Agricultural 168 (4 ) 2 72 238 Real Estate Commercial Construction 323 (49 ) 162 334 770 Residential Construction 13 - - (2 ) 11 Commercial 5,751 (966 ) 302 (424 ) 4,663 Residential 1,396 (605 ) 33 148 972 Farmland 722 - - 137 859 Consumer and Other Consumer 80 (117 ) 51 70 84 Other 14 - - 7 21 $ 8,923 $ (1,865 ) $ 650 $ 335 $ 8,043 June 30, 2016 Beginning Ending Balance Charge-Offs Recoveries Provision Balance Commercial and Agricultural Commercial $ 855 $ (225 ) $ 25 $ (100 ) $ 555 Agricultural 203 (18 ) 2 64 251 Real Estate Commercial Construction 691 (25 ) 804 (1,032 ) 438 Residential Construction 20 - - (2 ) 18 Commercial 3,851 (569 ) 180 2,136 5,598 Residential 1,990 (159 ) 23 (242 ) 1,612 Farmland 912 - 125 (241 ) 796 Consumer and Other Consumer 63 (111 ) 21 123 96 Other 19 - 5 2 26 $ 8,604 $ (1,107 ) $ 1,185 $ 708 $ 9,390 During the first 2017 8 16 June 30, 2017, $431,600. Management continually evaluates the allowance for loan losses methodology seeking to refine and enhance this process as appropriate, and it is likely that the methodology will continue to evolve over time. The Company determines its individual reserves during its quarterly review of substandard loans. This process involves reviewing all loans with a risk grade of 6 $250,000 June 30, 2017, 153 $4.3 $250,000 not June 30, 2016, 165 $3.8 $250,000 Since not may not $13.04 $12.64 June 30, 2017 2016, $1.19 $791 June 30, 2017 2016, not The following tables present breakdowns of the allowance for loan losses, segregated by impairment methodology for June 30, 2017 2016: June 30, 2017 Ending Allowance Balance Ending Loan Balance Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for Impairment Impairment Total Impairment Impairment Total Commercial and Agricultural Commercial $ - $ 425 $ 425 $ 33 $ 44,850 $ 44,883 Agricultural - 238 238 5 21,805 21,810 Real Estate Commercial Construction 4 766 770 72 35,079 35,151 Residential Construction - 11 11 - 9,230 9,230 Commercial 1,517 3,146 4,663 17,292 338,509 355,801 Residential 20 952 972 2,336 198,236 200,572 Farmland 26 833 859 1,040 69,154 70,194 Consumer and Other Consumer - 84 84 - 19,134 19,134 Other - 21 21 - 18,791 18,791 Total End of Period Balance $ 1,567 $ 6,476 $ 8,043 $ 20,778 $ 754,788 $ 775,566 June 30, 2016 Ending Allowance Balance Ending Loan Balance Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for Impairment Impairment Total Impairment Impairment Total Commercial and Agricultural Commercial $ - $ 555 $ 555 $ 9 $ 47,925 $ 47,934 Agricultural - 251 251 - 24,307 24,307 Real Estate Commercial Construction 22 416 438 384 31,908 32,292 Residential Construction - 18 18 - 9,141 9,141 Commercial 2,886 2,712 5,598 17,463 327,718 345,181 Residential 440 1,172 1,612 3,609 192,531 196,140 Farmland 33 763 796 1,048 69,089 70,137 Consumer and Other Consumer - 96 96 - 19,936 19,936 Other - 26 26 - 19,141 19,141 Total End of Period Balance $ 3,381 $ 6,009 $ 9,390 $ 22,513 $ 741,696 $ 764,209 |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | ( 5 ) Other Real Estate Owned The aggregate carrying amount of Other Real Estate Owned (OREO) at June 30, 2017 December 31, 2016 $4,525 $6,439, six June 30, 2017 December 31, 2016. Six Months Ended Twelve Months Ended June 30, 2017 December 31, 2016 Balance, Beginning $ 6,439 $ 8,839 Additions 432 5,664 Sales of OREO (2,236 ) (7,416 ) Gains (Losses) on Sale 96 (146 ) Provision for Losses (206 ) (502 ) Balance, Ending $ 4,525 $ 6,439 At June 30, 2017, $423 $431 December 31, 2016. June 30, 2017, $317 December 31, 2016, $204 |
Note 6 - Deposits
Note 6 - Deposits | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 6 ) Deposits The aggregate amount of overdrawn deposit accounts reclassified as loan balances totaled $457 $414 June 30, 2017 December 31, 2016. Components of interest-bearing deposits as of June 30, 2017 December 31, 2016 Six Months Ended Twelve Months Ended June 30, 2017 December 31, 2016 Interest-Bearing Demand $ 432,635 $ 448,004 Savings 76,294 70,066 Time, $250,000 and Over 26,347 32,168 Other Time 328,334 335,060 $ 863,610 $ 885,298 At June 30, 2017 December 31, 2016, $49,052 $49,303, $250,000 $21,359 $25,446 June 30, 2017 December 31, 2016, $250,000 $26,347 $32,168 June 30, 2017 December 31, 2016. As of June 30, 2017 December 31, 2016, Maturity June 30, 2017 December 31, 2016 One Year and Under $ 258,785 $ 256,886 One to Three Years 73,550 85,794 Three Years and Over 22,346 24,548 $ 354,681 $ 367,228 |
Note 7 - Other Borrowed Money
Note 7 - Other Borrowed Money | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 7 ) Other Borrowed Money Other borrowed money at June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Federal Home Loan Bank Advances $ 51,000 $ 46,000 Other Borrowings 5,000 - $ 56,000 $ 46,000 Advances from the Federal Home Loan Bank (FHLB) have maturities ranging from 2018 2026 0.98 3.51 first June 30, 2017 $118,022. June 30, 2017 $250,736. may The Company borrowed $5,000 first 2017 one 0.75 5.00 The aggregate stated maturities of other borrowed money at June 30, 2017 Year Amount 2018 $ 12,500 2019 5,000 2020 2,500 After 2020 $ 36,000 56,000 $43,500, none June 30, 2017. The Company has the ability to borrow funds from the Federal Reserve Bank (FRB) of Atlanta utilizing the discount window. The discount window is an instrument of monetary policy that allows eligible institutions to borrow money from the FRB on a short-term basis to meet temporary liquidity shortages caused by internal or external disruptions. At June 30, 2017, no |
Note 8 - Preferred Stock and Wa
Note 8 - Preferred Stock and Warrants | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Preferred Stock And Warrants [Text Block] | ( 8 ) Preferred Stock and Warrants The Company redeemed 9,360 March 31, 2017. no June 30, 2017. 8,661 $1,000 2016. 9,979 $1,000 2015. 500,000 2009 2013. The Preferred Stock qualified as Tier 1 $1,000 January 9, 2019 $8.40 No may |
Note 9 - Subordinated Debenture
Note 9 - Subordinated Debentures (Trust Preferred Securities) | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | ( 9 ) Subordinated Debentures (Trust Preferred Securities) 3 Month Added Total 5 Year Description Date Amount Libor Rate Points Rate Maturity Call Option Colony Bankcorp Statutory Trust III 6/17/2004 $ 4,640 1.26744 2.68 3.94744 6/14/2034 6/17/2009 Colony Bankcorp Capital Trust I 4/13/2006 5,155 1.29639 1.50 2.79639 4/13/2036 4/13/2011 Colony Bankcorp Capital Trust II 3/12/2007 9,279 1.29639 1.65 2.94639 3/12/2037 3/12/2012 Colony Bankcorp Capital Trust III 9/14/2007 5,155 1.16956 1.40 2.56956 9/14/2037 9/14/2012 The Trust Preferred Securities are recorded as subordinated debentures on the consolidated balance sheets, but subject to certain limitations, qualify as Tier 1 The Trust Preferred Securities pay interest quarterly. |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 1 0 ) Commitments and Contingencies Credit-Related Financial Instruments . The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company follows the same credit policies in making commitments as it does for on-balance sheet instruments. We evaluate each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary, upon extension of credit, is based on management’s credit evaluation of the borrower. Collateral held varies, but may At June 30, 2017 December 31, 2016 Contract Amount June 30, 2017 December 31, 2016 Loan Commitments $ 96,380 $ 71,359 Letters of Credit 1,445 1,551 Commitments to extend credit are agreements to lend to a customer as long as there is no may commitments for equity lines of credit may not Unfunded commitments under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. These lines of credit are uncollateralized and usually do not may not Standby and performance letters of credit are conditional lending commitments issued by the Company to guarantee the performance of a customer to a third Essentially all letters of credit issued have expiration dates within one Le gal Contingencies not, |
Note 11 - Fair Value of Financi
Note 11 - Fair Value of Financial Instruments and Fair Value Measurements | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 11 ) Fair Value of Financial Instruments and Fair Value Measurements Generally accepted accounting standards in the U.S. require disclosure of fair value information about financial instruments, whether or not not Generally accepted accounting principles related to Fair Value Measurements define fair value, establish a framework for measuring fair value, establish a three three ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and represent the Company’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. The following disclosures should not Cash and Short-Term Investments 1. Investment Securities 1. not 2. not 3. Federal Home Loan Bank Stock 1. Loans 2, 3. Bank-Owned Life Insurance – 1. Deposit Liabilities 1. 2. Subordinated Debentures 2. Other Borrowed Money 2 Disclosures of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments as of June 30, 2017 December 31, 2016 Fair Value Measurements at June 30, 2017 Carrying Estimated Level Level Level Value Fair Value 1 2 3 Assets Cash and Short-Term Investments $ 30,059 $ 30,059 $ 30,059 $ - $ - Investment Securities Available for Sale 337,710 337,710 - 337,134 576 Federal Home Loan Bank Stock 3,255 3,255 3,255 - - Loans, Net 767,069 767,523 - 761,433 6,090 Bank-Owned Life Insurance 15,724 15,724 15,724 - - Liabilities Deposits 1,026,538 1,026,846 671,857 354,989 - Subordinated Debentures 24,229 24,229 - 24,229 - Other Borrowed Money 56,000 56,251 - 56,251 - Fair Value Measurements at December 31, 2016 Carrying Estimated Level Level Level Value Fair Value 1 2 3 Assets Cash and Short-Term Investments $ 75,167 $ 75,167 $ 75,167 $ - $ - Investment Securities Available for Sale 323,658 323,658 - 323,082 576 Federal Home Loan Bank Stock 3,010 3,010 3,010 - - Loans, Net 744,999 745,240 - 738,288 6,952 Bank-Owned Life Insurance 15,419 15,419 15,419 - - Liabilities Deposits 1,044,357 1,045,726 677,129 368,597 - Subordinated Debentures 24,229 24,229 - 24,229 - Other Borrowed Money 46,000 46,232 - 46,232 - Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not one no matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not not not Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring and nonrecurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy: Assets Securities 1 1 not 2 3 Impaired Loans third 3 Other Real Estate third may third 10 3 Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis – June 30, 2017 December 31, 2016, June 30, 2017. Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Total Fair Identical Assets Observable Inputs June 30, 2017 Value (Level 1) Inputs (Level 2) (Level 3) Recurring Securities Available for Sale Mortgage-Backed $ 330,742 $ - $ 330,742 $ - State, County and Municipal 4,904 - 4,328 576 Corporate Bonds 2,064 2,064 - $ 337,710 $ - $ 337,134 $ 576 Nonrecurring Impaired Loans $ 6,090 $ - $ - $ 6,090 Other Real Estate $ 1,857 $ - $ - $ 1,857 Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Total Fair Identical Assets Observable Inputs December 31, 2016 Value (Level 1) Inputs (Level 2) (Level 3) Recurring Securities Available for Sale Mortgage-Backed $ 319,097 $ - $ 319,097 $ - State, County and Municipal 4,561 - 3,985 576 $ 323,658 $ - $ 323,082 $ 576 Nonrecurring Impaired Loans $ 6,952 $ - $ - $ 6,952 Other Real Estate $ 2,505 $ - $ - $ 2,505 Liabilities The Company did not Fair Value Measurements Using Significant Unobservable Inputs (Level 3 The following table presents quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 June 30, 2017 December 31, 2016. Valuation Unobservable Range June 30, 2017 Techniques Inputs Weighted Avg Real Estate Commercial Construction $ 67 Sales Comparison Adjustment for Differences (5.00 )% - 99.00% Between the Comparable Sales 47.00% Management Adjustments for 0.00% - 10.00% Age of Appraisals and/or Current 5.00% Market Conditions Residential Real Estate 21 Sales Comparison Adjustment for Differences (22.00 )% - (6.00)% Between the Comparable Sales (14.00 )% Management Adjustments for 10.00% - 25.00% Age of Appraisals and/or Current 17.50% Market Conditions Commercial Real Estate 5,652 Sales Comparison Management Adjustments for 0.00% - 10.00% Age of Appraisals and/or Current 5.00% Market Conditions Income Approach Capitalization Rate 10.67% Farmland 350 Sales Comparison Adjustment for Differences 0.00% - 15.00% Between the Comparable Sales 7.50% Management Adjustments for 10.00% - 75.00% Age of Appraisals and/or Current 42.50% Market Conditions Other Real Estate Owned 1,857 Sales Comparison Adjustment for Differences (15.00 )% - 37.60% Between the Comparable Sales 11.30% Management Adjustments for 6.25% - 81.27% Age of Appraisals and/or Current 31.23% Market Conditions Valuation Unobservable Range December 31, 2016 Techniques Inputs Weighted Avg Real Estate Commercial Construction $ 51 Sales Comparison Adjustment for Differences (5.00)% - 99.00% Between the Comparable Sales 47.00% Management Adjustments for 0.00% - 10.00% Age of Appraisals and/or Current 5.00% Market Conditions Residential Real Estate 1,105 Sales Comparison Adjustment for Differences (22.00)% - 0.00% Between the Comparable Sales (11.00)% Management Adjustments for 0.00% - 40.00% Age of Appraisals and/or Current 20.00% Market Conditions Commercial Real Estate 5,445 Sales Comparison Adjustment for differences (14.08)% - 24.62% Between the comparable Sales 5.27% Management Adjustments for 0.00% - 100.00% Age of Appraisals and/or Current 50.00% Market Conditions Income Approach Capitalization Rate 10.67% Farmland 351 Sales Comparison Adjustment for Differences (27.00)% - 15.00% Between the Comparable Sales (6.00)% Management Adjustments for 10.00% - 75.00% Age of Appraisals and/or Current 42.50% Market Conditions Other Real Estate Owned 2,505 Sales Comparison Adjustment for Differences (50.80)% - 316.00% Between the Comparable Sales 132.60% Management Adjustment for 6.25% - 76.92% Age of Appraisals and/or Current 36.31% Market Conditions Income Approach Discount Rate 12.50% The table below presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3 three June 30, 2017 twelve December 31, 2016. Available for Sale Securities June 30, 2017 December 31, 2016 Balance, Beginning $ 576 $ 930 Transfers out of Level 3 - - Maturities (330 ) Loss on OTTI Impairment Included in Noninterest Income - - Unrealized Gains included in Other Comprehensive Income (Loss) - (24 ) Balance, Ending $ 576 $ 576 The Company’s policy is to recognize transfers in and transfers out of levels 1, 2 3 no six June 30, 2017 twelve December 31, 2016. The following table presents quantitative information about recurring level 3 June 30, 2017. Valuation Unobservable Range Fair Value Techniques Inputs Weighted Avg State, County and Municipal $ 576 Discounted Cash Flow Discount Rate N/A* * The Company relies on a third third not |
Note 12 - Regulatory Capital Ma
Note 12 - Regulatory Capital Matters | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 12 ) Regulatory Capital Matters The amount of dividends payable to the parent company from the subsidiary bank is limited by various banking regulatory agencies. Upon approval by regulatory authorities, the Bank may The Company is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and, possibly, additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total and Tier 1 1 June 30, 2017, 1 June 30, 2017, no The Basel III rules also require the implementation of a new capital conservation buffer comprised of common equity Tier 1 January 1, 2016 0.625% 0.625% 2.5% January 1, 2019. The following table summarizes regulatory capital information as of June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of June 3 0 , 201 7 Total Capital to Risk-Weighted Assets Consolidated $ 124,460 15.32 % $ 65,001 8.00 % N/A N/A Colony Bank 127,134 15.67 64,915 8.00 $ 81,144 10.00 % Tier I Capital to Risk-Weighted Assets Consolidated 116,417 14.33 48,751 6.00 N/A N/A Colony Bank 119,091 14.68 48,686 6.00 64,915 8.00 Common Equity Tier I Capital to Risk-Weighted Assets Consolidated 92,917 11.44 36,563 4.50 N/A N/A Colony Bank 119,091 14.68 36,515 4.50 52,743 6.50 Tier I Capital to Average Assets Consolidated 116,417 9.72 47,930 4.00 N/A N/A Colony Bank 119,091 9.95 47,856 4.00 59,820 5.00 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016 Total Capital to Risk-Weighted Assets Consolidated $ 130,785 16.64 % $ 62,880 8.00 % N/A N/A Colony Bank 127,646 16.26 62,796 8.00 $ 78,495 10.00 % Tier 1 Capital to Risk-Weighted Assets Consolidated 121,862 15.50 47,160 6.00 N/A N/A Colony Bank 118,723 15.12 47,097 6.00 62,796 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 89,002 11.32 35,370 4.50 N/A N/A Colony Bank 118,723 15.12 35,323 4.50 51,022 6.50 Tier 1 Capital to Average Assets Consolidated 121,862 10.29 47,368 4.00 N/A N/A Colony Bank 118,723 10.04 47,290 4.00 59,113 5.00 |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 13 ) Earnings Per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted earnings per share reflects the potential dilution of restricted stock and common stock warrants. Net income available to common stockholders represents net income after preferred stock dividends. The following table presents earnings per share for the three six June 30, 2017 2016. Three Months Ended Six Months Ended June 30 June 30 2017 2016 2017 2016 Numerator Net Income Available to Common Stockholders $ 2,433 $ 1,761 $ 4,339 $ 3,417 Denominator Weighted Average Number of Common Shares Outstanding for Basic Earnings Per Common Share 8,439 8,439 8,439 8,439 Dilutive Effect of Potential Common Stock Restricted Stock - - - - Stock Warrants 191 59 193 52 Weighted-Average Number of Shares Outstanding for Diluted Earnings Per Common Share 8,630 8,498 8,632 8,491 Earnings Per Share - Basic $ 0.29 $ 0.21 $ 0.51 $ 0.40 Earnings Per Share - Diluted $ 0.28 $ 0.21 $ 0.50 $ 0.40 |
Note 14 - Accumulated Other Com
Note 14 - Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 14 ) Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) for unrealized gains and losses securities available for sale for the period ended June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Beginning Balance $ (5,022 ) $ (4,434 ) Other Comprehensive Income Before Reclassification 1,047 (334 ) Amounts Reclassified from Accumulated Other Comprehensive Income - (254 ) Net Current Period Other Comprehensive Income 1,047 (588 ) Ending Balance $ (3,975 ) $ (5,022 ) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Nature of Operations [Policy Text Block] | Nature of Operations The Bank provides a full range of retail and commercial banking services for consumers and small- to medium-size businesses located primarily in central, south and coastal Georgia. The Bank is headquartered in Fitzgerald, Georgia with banking offices in Albany, Ashburn, Broxton, Centerville, Columbus, Cordele, Douglas, Eastman, Fitzgerald, Leesburg, Moultrie, Quitman, Rochelle, Savannah, Soperton, Sylvester, Statesboro, Thomaston, Tifton, Valdosta and Warner Robins. Lending and investing activities are funded primarily by deposits gathered through its retail banking office network. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. |
Reclassification, Policy [Policy Text Block] | Reclassifications In certain instances, amounts reported in prior years’ consolidated financial statements have been reclassified to conform to statement presentations selected for 2017. not |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk Concentrations of credit risk can exist in relation to individual borrowers or groups of borrowers, certain types of collateral, certain types of industries, or certain geographic regions. The Company has a concentration in real estate loans as well as a geographic concentration that could pose an adverse credit risk. At June 30, 2017, 87 The success of the Company is dependent, to a certain extent, upon the economic conditions in the geographic markets it serves. Adverse changes in the economic conditions in these geographic markets would likely have a material adverse effect on the Company’s results of operations and financial condition. The operating results of the Company depend primarily on its net interest income. Accordingly, operations are subject to risks and uncertainties surrounding the exposure to changes in the interest rate environment. At times, the Company may |
Investment, Policy [Policy Text Block] | Investment Securities The Company classifies its investment securities as trading, available for sale or held to maturity. Securities that are held principally for resale in the near term are classified as trading. Trading securities are carried at fair value, with realized and unrealized gains and losses included in noninterest income. Currently, no not may The Company evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI). In estimating other-than-temporary impairment losses, management considers such factors as the length of time and the extent to which the market value has been below cost, the financial condition of the issuer and the Company’s intent to sell and whether it is more likely than not not not not not |
Investment in Federal Home Bank Stock [Policy Text Block] | Federal Home Loan Bank Stock Investment in stock of a Federal Home Loan Bank (FHLB) is |
Policy Loans Receivable, Policy [Policy Text Block] | Loans Loans that the Company has the ability and intent to hold for the foreseeable future or until maturity are recorded at their principal amount outstanding, net of unearned interest and fees. Loan origination fees, net of certain direct origination costs, are deferred and amortized over the estimated terms of the loans using the straight-line method. Interest income on loans is recognized using the effective interest method. A loan is considered to be delinquent when payments have not When management believes there is sufficient doubt as to the collectability of principal or interest on any loan or generally when loans are 90 no |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Loans Modified in a Troubled Debt Restructuring (TDR) Loans are considered to have been modified in a TDR when, due to a borrower’s financial difficulty, the Company makes certain concessions to the borrower that it would not may 6 may may six not |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the inability to collect a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific, historical and general components. The specific component relates to loans that are classified as either doubtful, substandard or special mention. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan are lower than the carrying value of that loan. The historical component covers nonclassified loans and is based on historical loss experience adjusted for qualitative factors. A general component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The general component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and historical losses in the portfolio. General valuation allowances are based on internal and external qualitative risk factors such as ( 1 2 3 4 5 6 7 8 9 Loans identified as losses by management, internal loan review and/or regulatory agencies are charged off. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A significant portion of the Company’s impaired loans are deemed to be collateral dependent. Management therefore measures impairment on these loans based on the fair value of the collateral. Collateral values are determined based on appraisals performed by qualified licensed appraisers hired by the Company or by senior members of the Company’s credit administration staff. The decision whether or not third may third may 10 not may 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 typically significant and result in a level 3 |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are recorded at acquisition cost net of accumulated depreciation. Depreciation is charged to operations over the estimated useful lives of the assets. The estimated useful lives and methods of depreciation are as follows: Description Life in Years Method . Banking Premises 15 - 40 Straight-Line and Accelerated Furniture and Equipment 5 - 10 Straight-Line and Accelerated Expenditures for major renewals and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. When property and equipment are retired or sold, the cost and accumulated depreciation are removed from the respective accounts and any gain or loss is reflected in other income or expense. |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of core deposit intangibles acquired in connection with a business combination. The core deposit intangible is initially recognized based on a valuation performed as of the consummation date. The core deposit intangible is amortized by the straight-line method over the average remaining life of the acquired customer deposits. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Statement of Cash Flows For reporting cash flows, cash and cash equivalents include cash on hand, noninterest-bearing amounts due from banks and federal funds sold. Cash flows from demand deposits, interest-bearing checking accounts, savings accounts, loans and certificates of deposit are reported net. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs The Company expenses the cost of advertising in the periods in which those costs are incurred. |
Income Tax, Policy [Policy Text Block] | Income Taxes The provision for income taxes is based upon income for financial statement purposes, adjusted for nontaxable income and nondeductible expenses. Deferred income taxes have been provided when different accounting methods have been used in determining income for income tax purposes and for financial reporting purposes. Deferred tax assets and liabilities are recognized based on future tax consequences attributable to differences arising from the financial statement carrying values of assets and liabilities and their tax bases. The differences relate primarily to depreciable assets (use of different depreciation methods for financial statement and income tax purposes) and allowance for loan losses (use of the allowance method for financial statement purposes and the direct write-off method for tax purposes). In the event of changes in the tax laws, deferred tax assets and liabilities are adjusted in the period of the enactment of those changes, with effects included in the income tax provision. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not Positions taken in the Company’s tax returns may not 50 may first |
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block] | Other Real Estate Other real estate generally represents real estate acquired through foreclosure and is initially recorded at estimated fair value at the date of acquisition less the cost of disposal. Losses from the acquisition of property in full or partial satisfaction of debt are recorded as loan losses. Properties are evaluated regularly to ensure the recorded amounts are supported by current fair values, and valuation allowances are recorded as necessary to reduce the carrying amount to fair value less estimated cost of disposal. Routine holding costs and gains or losses upon disposition are included in other noninterest expense. |
Bank Owned Life Insurance [Policy Text Block] | Bank-Owned Life Insurance The Company has purchased life insurance on the lives of certain key members of management and directors. The life insurance policies are recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement, if applicable. Increases in the cash surrender value are recorded as other income in the consolidated statements of income. The cash surrender value of the insurance contracts is recorded in other assets on the consolidated balance sheets in the amount of $15,724 $15,419 June 30, 2017 December 31, 2016, |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities available for sale, represent equity changes from economic events of the period other than transactions with owners and are not |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Company has entered into commitments to extend credit, commercial letters of credit and standby letters of credit. Such financial instruments are recorded when they are funded. |
New Accounting Pronouncements, Policy [Policy Text Block] | Changes in Accounting Principles and Effects of New Accounting Pronouncements ASU 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09 2014 09 five may 2014 09, one 2015 14, first 2018. 2014 09 ASU 2016 01, Financial Instruments – Overall (Subtopic 825 10 2016 01, 2016 01 January 1, 2018. 2016 01 ASU 2016 02, Leases (Topic 842 . December 15, 2018, ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, ASU 2016 15, Statement of Cash Flows (Topic 230 2016 15 2016 15 January 1, 2018 not ASU 2016 18, Statement of Cash Flows (Topic 230 2016 18 requires restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The adoption of this guidance will only affect the Consolidated Statements of Cash Flows. ASU 2016 18 December 15, 2017 not ASU 2017 08, Premium Amortization on Purchased Callable Debt Securities. This ASU shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not No. 2017 08 December 15, 2018; first No. 2017 08 |
Note 1 - Summary of Significa22
Note 1 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Estimated Useful Lives and Methods of Depreciation [Table Text Block] | Description Life in Years Method . Banking Premises 15 - 40 Straight-Line and Accelerated Furniture and Equipment 5 - 10 Straight-Line and Accelerated |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Marketable Securities [Table Text Block] | June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale: U. S. Government Agencies Mortgage-Backed $ 336,786 $ 204 $ (6,248 ) $ 330,742 State, County & Municipal 4,891 40 (27 ) 4,904 Corporate Bonds 2,056 8 - 2,064 $ 343,733 $ 252 $ (6,275 ) $ 337,710 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale: U. S. Government Agencies Mortgage-Backed $ 326,694 $ 76 $ (7,673 ) $ 319,097 State, County & Municipal 4,573 18 (30 ) 4,561 $ 331,267 $ 94 $ (7,703 ) $ 323,658 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Securities Available for Sale Amortized Cost Fair Value Due In One Year or Less $ 665 $ 667 Due After One Year Through Five Years 4,535 4,524 Due After Five Years Through Ten Years 1,053 1,077 Due After Ten Years 694 700 $ 6,947 $ 6,968 Mortgage-Backed Securities 336,786 330,742 $ 343,733 $ 337,710 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than 12 Months 12 Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses June 30, 2017 U. S. Government Agencies Mortgage-Backed $ 170,412 $ (2,499 ) $ 108,285 $ (3,749 ) $ 278,697 $ (6,248 ) State, County and Municipal 1,776 (27 ) - - 1,776 (27 ) $ 172,188 $ (2,526 ) $ 108,285 $ (3,749 ) $ 280,473 $ (6,275 ) December 31. 2016 U.S. Government Agencies Mortgage-Backed $ 174,201 $ (3,460 ) $ 107,482 $ (4,213 ) $ 281,683 $ (7,673 ) State, County and Municipal 3,488 (30 ) - - 3,488 (30 ) $ 177,689 $ (3,490 ) $ 107,482 $ (4,213 ) $ 285,171 $ (7,703 ) |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2017 December 31, 2016 Commercial and Agricultural Commercial $ 44,883 $ 47,025 Agricultural 21,810 17,080 Real Estate Commercial Construction 35,151 30,358 Residential Construction 9,230 11,830 Commercial 355,801 349,090 Residential 200,572 195,580 Farmland 70,194 66,877 Consumer and Other Consumer 19,134 19,695 Other 18,791 16,748 Total Loans $ 775,566 $ 754,283 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 2017 Pass Special Mention Substandard Total Loans Commercial and Agricultural Commercial $ 42,156 $ 1,864 $ 863 $ 44,883 Agricultural 21,110 163 537 21,810 Real Estate Commercial Construction 31,324 1,211 2,616 35,151 Residential Construction 9,031 - 199 9,230 Commercial 341,986 4,158 9,657 355,801 Residential 185,981 3,636 10,955 200,572 Farmland 68,144 1,102 948 70,194 Consumer and Other Consumer 18,649 114 371 19,134 Other 18,791 - - 18,791 Total Loans $ 737,172 $ 12,248 $ 26,146 $ 775,566 December 31, 2016 Pass Special Mention Substandard Total Loans Commercial and Agricultural Commercial $ 44,250 $ 1,862 $ 913 $ 47,025 Agricultural 16,586 192 302 17,080 Real Estate Commercial Construction 28,425 1,349 584 30,358 Residential Construction 11,630 - 200 11,830 Commercial 327,561 9,403 12,126 349,090 Residential 178,618 5,659 11,303 195,580 Farmland 65,075 839 963 66,877 Consumer and Other Consumer 19,072 226 397 19,695 Other 16,748 - - 16,748 Total Loans $ 707,965 $ 19,530 $ 26,788 $ 754,283 |
Past Due Financing Receivables [Table Text Block] | June 30, 2017 Accruing Loans 90 Days 30-89 Days or More Total Accruing Nonaccrual Past Due Past Due Loans Past Due Loans Current Loans Total Loans Commercial and Agricultural Commercial $ 615 $ - $ 615 $ 608 $ 43,660 $ 44,883 Agricultural 202 - 202 348 21,260 21,810 Real Estate Commercial Construction 792 - 792 102 34,257 35,151 Residential Construction - - - 199 9,031 9,230 Commercial 1,233 - 1,233 3,079 351,489 355,801 Residential 2,984 - 2,984 3,013 194,575 200,572 Farmland 187 - 187 678 69,329 70,194 Consumer and Other Consumer 205 - 205 149 18,780 19,134 Other - - - - 18,791 18,791 Total Loans $ 6,218 $ - $ 6,218 $ 8,176 $ 761,172 $ 775,566 December 31, 2016 Accruing Loans 90 Days 30-89 Days or More Total Accruing Nonaccrual Past Due Past Due Loans Past Due Loans Current Loans Total Loans Commercial and Agricultural Commercial $ 420 $ - $ 420 $ 635 $ 45,970 $ 47,025 Agricultural 33 - 33 209 16,838 17,080 Real Estate Commercial Construction 54 - 54 190 30,114 30,358 Residential Construction - - - - 11,830 11,830 Commercial 492 - 492 6,360 342,238 349,090 Residential 3,179 - 3,179 3,944 188,457 195,580 Farmland 95 - 95 800 65,982 66,877 Consumer and Other Consumer 196 - 196 212 19,287 19,695 Other - - - - 16,748 16,748 Total Loans $ 4,469 $ - $ 4,469 $ 12,350 $ 737,464 $ 754,283 |
Impaired Financing Receivables [Table Text Block] | June 30, 2017 Unpaid Contractual Average Interest Interest Principal Impaired Related Recorded Income Income Balance Balance Allowance Investment Recognized Collected With No Related Allowance Recorded Commercial $ 608 $ 608 $ - $ 639 $ 11 $ 15 Agricultural 370 349 - 254 11 13 Commercial Construction 102 102 - 159 1 1 Residential Construction 199 199 66 5 5 Commercial Real Estate 10,454 10,454 - 13,543 226 222 Residential Real Estate 5,667 4,871 - 4,511 98 115 Farmland 679 678 - 759 56 56 Consumer 149 149 - 188 3 3 Other - - - - - - 18,228 17,410 - 20,119 411 430 With An Allowance Recorded Commercial - - - - - - Agricultural - - - - - - Commercial Construction 71 71 4 72 2 2 Residential Construction - - - - - - Commercial Real Estate 7,169 7,169 1,517 6,714 135 134 Residential Real Estate 49 41 20 755 (2 ) 2 Farmland 376 376 26 378 11 11 Consumer - - - - - - Other - - - - - - 7,665 7,657 1,567 7,919 146 149 Total Commercial 608 608 - 639 11 15 Agricultural 370 349 - 254 11 13 Commercial Construction 173 173 4 231 3 3 Residential Construction 199 199 - 66 5 5 Commercial Real Estate 17,623 17,623 1,517 20,257 361 356 Residential Real Estate 5,716 4,912 20 5,266 96 117 Farmland 1,055 1,054 26 1,137 67 67 Consumer 149 149 - 188 3 3 Other - - - - - - $ 25,893 $ 25,067 $ 1,567 $ 28,038 $ 557 $ 579 December 31, 2016 Unpaid Contractual Average Interest Interest Principal Impaired Related Recorded Income Income Balance Balance Allowance Investment Recognized Collected With No Related Allowance Recorded Commercial $ 635 $ 635 $ - $ 539 $ 24 $ 27 Agricultural 229 209 - 210 9 12 Commercial Construction 191 191 - 698 7 7 Commercial Real Estate 14,358 14,276 - 14,275 567 560 Residential Real Estate 4,261 3,952 - 4,553 73 191 Farmland 921 799 - 1,016 22 26 Consumer 212 212 - 213 10 12 20,807 20,274 - 21,504 712 835 With An Allowance Recorded Commercial - - - 30 - - Agricultural - - - - - - Commercial Construction 72 72 21 74 1 2 Commercial Real Estate 8,557 8,467 3,022 8,340 239 236 Residential Real Estate 1,476 1,468 363 1,043 28 32 Farmland 380 380 29 384 21 21 Consumer - - - - - - 10,485 10,387 3,435 9,871 289 291 Total Commercial 635 635 - 569 24 27 Agricultural 229 209 - 210 9 12 Commercial Construction 263 263 21 772 8 9 Commercial Real Estate 22,915 22,743 3,022 22,615 806 796 Residential Real Estate 5,737 5,420 363 5,596 101 223 Farmland 1,301 1,179 29 1,400 43 47 Consumer 212 212 - 213 10 12 $ 31,292 $ 30,661 $ 3,435 $ 31,375 $ 1,001 $ 1,126 June 30, 2016 Unpaid Contractual Average Interest Interest Principal Impaired Related Recorded Income Income Balance Balance Allowance Investment Recognized Collected With No Related Allowance Recorded Commercial $ 460 $ 460 $ - $ 472 $ 4 $ 5 Agricultural 213 192 - 188 9 13 Commercial Construction 453 428 - 930 8 7 Residential Construction - - - - - Commercial Real Estate 16,383 15,615 - 13,577 271 270 Residential Real Estate 5,227 4,956 - 4,606 (7 ) 119 Farmland 935 933 - 1,121 (3 ) 1 Consumer 248 240 205 4 6 Other - - - - - - 23,919 22,824 - 21,099 286 421 With An Allowance Recorded Commercial - - - 50 - - Agricultural - - - - - - Commercial Construction 74 74 22 75 - - Residential Construction - - - - - - Commercial Real Estate 8,709 8,695 2,886 8,305 127 124 Residential Real Estate 864 856 440 965 3 3 Farmland 384 384 33 386 10 11 Consumer - - - - - - Other - - - - - - 10,031 10,009 3,381 9,781 140 138 Total Commercial 460 460 - 522 4 5 Agricultural 213 192 - 188 9 13 Commercial Construction 527 502 22 1,005 8 7 Residential Construction - - - - - - Commercial Real Estate 25,092 24,310 2,886 21,882 398 394 Residential Real Estate 6,091 5,812 440 5,571 (4 ) 122 Farmland 1,319 1,317 33 1,507 7 12 Consumer 248 240 - 205 4 6 Other - - - - - - $ 33,950 $ 32,833 $ 3,381 $ 30,880 $ 426 $ 559 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Troubled Debt Restructurings # of Contracts Pre-Modification Post-Modification # of Contracts Pre-Modification Post-Modification Residential Real Estate - $ - $ - - $ - $ - Total Loans - $ - $ - - $ - $ - Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Troubled Debt Restructurings # of Contracts Pre-Modification Post-Modification # of Contracts Pre-Modification Post-Modification Residential Real Estate 1 $ 91 $ 91 1 $ 91 $ 91 Total Loans 1 $ 91 $ 91 1 $ 91 $ 91 |
Note 4 - Allowance for Loan L25
Note 4 - Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | June 30, 2017 Beginning Ending Balance Charge-Offs Recoveries Provision Balance Commercial and Agricultural Commercial $ 456 $ (124 ) $ 100 $ (7 ) $ 425 Agricultural 168 (4 ) 2 72 238 Real Estate Commercial Construction 323 (49 ) 162 334 770 Residential Construction 13 - - (2 ) 11 Commercial 5,751 (966 ) 302 (424 ) 4,663 Residential 1,396 (605 ) 33 148 972 Farmland 722 - - 137 859 Consumer and Other Consumer 80 (117 ) 51 70 84 Other 14 - - 7 21 $ 8,923 $ (1,865 ) $ 650 $ 335 $ 8,043 June 30, 2016 Beginning Ending Balance Charge-Offs Recoveries Provision Balance Commercial and Agricultural Commercial $ 855 $ (225 ) $ 25 $ (100 ) $ 555 Agricultural 203 (18 ) 2 64 251 Real Estate Commercial Construction 691 (25 ) 804 (1,032 ) 438 Residential Construction 20 - - (2 ) 18 Commercial 3,851 (569 ) 180 2,136 5,598 Residential 1,990 (159 ) 23 (242 ) 1,612 Farmland 912 - 125 (241 ) 796 Consumer and Other Consumer 63 (111 ) 21 123 96 Other 19 - 5 2 26 $ 8,604 $ (1,107 ) $ 1,185 $ 708 $ 9,390 |
Schedule of Allowance for Loan Losses by Portfolio Segment [Table Text Block] | June 30, 2017 Ending Allowance Balance Ending Loan Balance Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for Impairment Impairment Total Impairment Impairment Total Commercial and Agricultural Commercial $ - $ 425 $ 425 $ 33 $ 44,850 $ 44,883 Agricultural - 238 238 5 21,805 21,810 Real Estate Commercial Construction 4 766 770 72 35,079 35,151 Residential Construction - 11 11 - 9,230 9,230 Commercial 1,517 3,146 4,663 17,292 338,509 355,801 Residential 20 952 972 2,336 198,236 200,572 Farmland 26 833 859 1,040 69,154 70,194 Consumer and Other Consumer - 84 84 - 19,134 19,134 Other - 21 21 - 18,791 18,791 Total End of Period Balance $ 1,567 $ 6,476 $ 8,043 $ 20,778 $ 754,788 $ 775,566 June 30, 2016 Ending Allowance Balance Ending Loan Balance Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for Impairment Impairment Total Impairment Impairment Total Commercial and Agricultural Commercial $ - $ 555 $ 555 $ 9 $ 47,925 $ 47,934 Agricultural - 251 251 - 24,307 24,307 Real Estate Commercial Construction 22 416 438 384 31,908 32,292 Residential Construction - 18 18 - 9,141 9,141 Commercial 2,886 2,712 5,598 17,463 327,718 345,181 Residential 440 1,172 1,612 3,609 192,531 196,140 Farmland 33 763 796 1,048 69,089 70,137 Consumer and Other Consumer - 96 96 - 19,936 19,936 Other - 26 26 - 19,141 19,141 Total End of Period Balance $ 3,381 $ 6,009 $ 9,390 $ 22,513 $ 741,696 $ 764,209 |
Note 5 - Other Real Estate Ow26
Note 5 - Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Other Real Estate, Roll Forward [Table Text Block] | Six Months Ended Twelve Months Ended June 30, 2017 December 31, 2016 Balance, Beginning $ 6,439 $ 8,839 Additions 432 5,664 Sales of OREO (2,236 ) (7,416 ) Gains (Losses) on Sale 96 (146 ) Provision for Losses (206 ) (502 ) Balance, Ending $ 4,525 $ 6,439 |
Note 6 - Deposits (Tables)
Note 6 - Deposits (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Components Of Interest Bearing Deposits [Table Text Block] | Six Months Ended Twelve Months Ended June 30, 2017 December 31, 2016 Interest-Bearing Demand $ 432,635 $ 448,004 Savings 76,294 70,066 Time, $250,000 and Over 26,347 32,168 Other Time 328,334 335,060 $ 863,610 $ 885,298 |
Scheduled Maturities Of Certificates Of Deposits [Table Text Block] | Maturity June 30, 2017 December 31, 2016 One Year and Under $ 258,785 $ 256,886 One to Three Years 73,550 85,794 Three Years and Over 22,346 24,548 $ 354,681 $ 367,228 |
Note 7 - Other Borrowed Money (
Note 7 - Other Borrowed Money (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | June 30, 2017 December 31, 2016 Federal Home Loan Bank Advances $ 51,000 $ 46,000 Other Borrowings 5,000 - $ 56,000 $ 46,000 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Year Amount 2018 $ 12,500 2019 5,000 2020 2,500 After 2020 $ 36,000 56,000 |
Note 9 - Subordinated Debentu29
Note 9 - Subordinated Debentures (Trust Preferred Securities) (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Subordinated Borrowing [Table Text Block] | 3 Month Added Total 5 Year Description Date Amount Libor Rate Points Rate Maturity Call Option Colony Bankcorp Statutory Trust III 6/17/2004 $ 4,640 1.26744 2.68 3.94744 6/14/2034 6/17/2009 Colony Bankcorp Capital Trust I 4/13/2006 5,155 1.29639 1.50 2.79639 4/13/2036 4/13/2011 Colony Bankcorp Capital Trust II 3/12/2007 9,279 1.29639 1.65 2.94639 3/12/2037 3/12/2012 Colony Bankcorp Capital Trust III 9/14/2007 5,155 1.16956 1.40 2.56956 9/14/2037 9/14/2012 |
Note 10 - Commitments and Con30
Note 10 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Summary Of Financial Instrument Outstanding [Table Text Block] | Contract Amount June 30, 2017 December 31, 2016 Loan Commitments $ 96,380 $ 71,359 Letters of Credit 1,445 1,551 |
Note 11 - Fair Value of Finan31
Note 11 - Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at June 30, 2017 Carrying Estimated Level Level Level Value Fair Value 1 2 3 Assets Cash and Short-Term Investments $ 30,059 $ 30,059 $ 30,059 $ - $ - Investment Securities Available for Sale 337,710 337,710 - 337,134 576 Federal Home Loan Bank Stock 3,255 3,255 3,255 - - Loans, Net 767,069 767,523 - 761,433 6,090 Bank-Owned Life Insurance 15,724 15,724 15,724 - - Liabilities Deposits 1,026,538 1,026,846 671,857 354,989 - Subordinated Debentures 24,229 24,229 - 24,229 - Other Borrowed Money 56,000 56,251 - 56,251 - Fair Value Measurements at December 31, 2016 Carrying Estimated Level Level Level Value Fair Value 1 2 3 Assets Cash and Short-Term Investments $ 75,167 $ 75,167 $ 75,167 $ - $ - Investment Securities Available for Sale 323,658 323,658 - 323,082 576 Federal Home Loan Bank Stock 3,010 3,010 3,010 - - Loans, Net 744,999 745,240 - 738,288 6,952 Bank-Owned Life Insurance 15,419 15,419 15,419 - - Liabilities Deposits 1,044,357 1,045,726 677,129 368,597 - Subordinated Debentures 24,229 24,229 - 24,229 - Other Borrowed Money 46,000 46,232 - 46,232 - |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Total Fair Identical Assets Observable Inputs June 30, 2017 Value (Level 1) Inputs (Level 2) (Level 3) Recurring Securities Available for Sale Mortgage-Backed $ 330,742 $ - $ 330,742 $ - State, County and Municipal 4,904 - 4,328 576 Corporate Bonds 2,064 2,064 - $ 337,710 $ - $ 337,134 $ 576 Nonrecurring Impaired Loans $ 6,090 $ - $ - $ 6,090 Other Real Estate $ 1,857 $ - $ - $ 1,857 Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Total Fair Identical Assets Observable Inputs December 31, 2016 Value (Level 1) Inputs (Level 2) (Level 3) Recurring Securities Available for Sale Mortgage-Backed $ 319,097 $ - $ 319,097 $ - State, County and Municipal 4,561 - 3,985 576 $ 323,658 $ - $ 323,082 $ 576 Nonrecurring Impaired Loans $ 6,952 $ - $ - $ 6,952 Other Real Estate $ 2,505 $ - $ - $ 2,505 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Valuation Unobservable Range June 30, 2017 Techniques Inputs Weighted Avg Real Estate Commercial Construction $ 67 Sales Comparison Adjustment for Differences (5.00 )% - 99.00% Between the Comparable Sales 47.00% Management Adjustments for 0.00% - 10.00% Age of Appraisals and/or Current 5.00% Market Conditions Residential Real Estate 21 Sales Comparison Adjustment for Differences (22.00 )% - (6.00)% Between the Comparable Sales (14.00 )% Management Adjustments for 10.00% - 25.00% Age of Appraisals and/or Current 17.50% Market Conditions Commercial Real Estate 5,652 Sales Comparison Management Adjustments for 0.00% - 10.00% Age of Appraisals and/or Current 5.00% Market Conditions Income Approach Capitalization Rate 10.67% Farmland 350 Sales Comparison Adjustment for Differences 0.00% - 15.00% Between the Comparable Sales 7.50% Management Adjustments for 10.00% - 75.00% Age of Appraisals and/or Current 42.50% Market Conditions Other Real Estate Owned 1,857 Sales Comparison Adjustment for Differences (15.00 )% - 37.60% Between the Comparable Sales 11.30% Management Adjustments for 6.25% - 81.27% Age of Appraisals and/or Current 31.23% Market Conditions Valuation Unobservable Range December 31, 2016 Techniques Inputs Weighted Avg Real Estate Commercial Construction $ 51 Sales Comparison Adjustment for Differences (5.00)% - 99.00% Between the Comparable Sales 47.00% Management Adjustments for 0.00% - 10.00% Age of Appraisals and/or Current 5.00% Market Conditions Residential Real Estate 1,105 Sales Comparison Adjustment for Differences (22.00)% - 0.00% Between the Comparable Sales (11.00)% Management Adjustments for 0.00% - 40.00% Age of Appraisals and/or Current 20.00% Market Conditions Commercial Real Estate 5,445 Sales Comparison Adjustment for differences (14.08)% - 24.62% Between the comparable Sales 5.27% Management Adjustments for 0.00% - 100.00% Age of Appraisals and/or Current 50.00% Market Conditions Income Approach Capitalization Rate 10.67% Farmland 351 Sales Comparison Adjustment for Differences (27.00)% - 15.00% Between the Comparable Sales (6.00)% Management Adjustments for 10.00% - 75.00% Age of Appraisals and/or Current 42.50% Market Conditions Other Real Estate Owned 2,505 Sales Comparison Adjustment for Differences (50.80)% - 316.00% Between the Comparable Sales 132.60% Management Adjustment for 6.25% - 76.92% Age of Appraisals and/or Current 36.31% Market Conditions Income Approach Discount Rate 12.50% |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Available for Sale Securities June 30, 2017 December 31, 2016 Balance, Beginning $ 576 $ 930 Transfers out of Level 3 - - Maturities (330 ) Loss on OTTI Impairment Included in Noninterest Income - - Unrealized Gains included in Other Comprehensive Income (Loss) - (24 ) Balance, Ending $ 576 $ 576 |
Fair Value, Inputs, Level 3 [Member] | |
Notes Tables | |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Valuation Unobservable Range Fair Value Techniques Inputs Weighted Avg State, County and Municipal $ 576 Discounted Cash Flow Discount Rate N/A* |
Note 12 - Regulatory Capital 32
Note 12 - Regulatory Capital Matters (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of June 3 0 , 201 7 Total Capital to Risk-Weighted Assets Consolidated $ 124,460 15.32 % $ 65,001 8.00 % N/A N/A Colony Bank 127,134 15.67 64,915 8.00 $ 81,144 10.00 % Tier I Capital to Risk-Weighted Assets Consolidated 116,417 14.33 48,751 6.00 N/A N/A Colony Bank 119,091 14.68 48,686 6.00 64,915 8.00 Common Equity Tier I Capital to Risk-Weighted Assets Consolidated 92,917 11.44 36,563 4.50 N/A N/A Colony Bank 119,091 14.68 36,515 4.50 52,743 6.50 Tier I Capital to Average Assets Consolidated 116,417 9.72 47,930 4.00 N/A N/A Colony Bank 119,091 9.95 47,856 4.00 59,820 5.00 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016 Total Capital to Risk-Weighted Assets Consolidated $ 130,785 16.64 % $ 62,880 8.00 % N/A N/A Colony Bank 127,646 16.26 62,796 8.00 $ 78,495 10.00 % Tier 1 Capital to Risk-Weighted Assets Consolidated 121,862 15.50 47,160 6.00 N/A N/A Colony Bank 118,723 15.12 47,097 6.00 62,796 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 89,002 11.32 35,370 4.50 N/A N/A Colony Bank 118,723 15.12 35,323 4.50 51,022 6.50 Tier 1 Capital to Average Assets Consolidated 121,862 10.29 47,368 4.00 N/A N/A Colony Bank 118,723 10.04 47,290 4.00 59,113 5.00 |
Note 13 - Earnings Per Share (T
Note 13 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended June 30 June 30 2017 2016 2017 2016 Numerator Net Income Available to Common Stockholders $ 2,433 $ 1,761 $ 4,339 $ 3,417 Denominator Weighted Average Number of Common Shares Outstanding for Basic Earnings Per Common Share 8,439 8,439 8,439 8,439 Dilutive Effect of Potential Common Stock Restricted Stock - - - - Stock Warrants 191 59 193 52 Weighted-Average Number of Shares Outstanding for Diluted Earnings Per Common Share 8,630 8,498 8,632 8,491 Earnings Per Share - Basic $ 0.29 $ 0.21 $ 0.51 $ 0.40 Earnings Per Share - Diluted $ 0.28 $ 0.21 $ 0.50 $ 0.40 |
Note 14 - Accumulated Other C34
Note 14 - Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | June 30, 2017 December 31, 2016 Beginning Balance $ (5,022 ) $ (4,434 ) Other Comprehensive Income Before Reclassification 1,047 (334 ) Amounts Reclassified from Accumulated Other Comprehensive Income - (254 ) Net Current Period Other Comprehensive Income 1,047 (588 ) Ending Balance $ (3,975 ) $ (5,022 ) |
Note 1 - Summary of Significa35
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Percentage of Loan Portfolio Concentrated in Loans Secured by Real Estate. | 87.00% | |
Discounted Percentage to Account for Selling and Marketing Costs | 10.00% | |
Probability of Uncertain Tax Positions of Being Realized upon Settlement, Minimum | 50.00% | |
Other Assets [Member] | ||
Cash Surrender Value of Life Insurance | $ 15,724 | $ 15,419 |
Note 1 - Summary of Significa36
Note 1 - Summary of Significant Accounting Policies - Estimated Useful Lives and Methods of Depreciation (Details) | 6 Months Ended |
Jun. 30, 2017 | |
Banking Premises [Member] | |
Property, plant and equipment, depreciation method | Straight-Line and Accelerated |
Banking Premises [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 15 years |
Banking Premises [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 40 years |
Furniture and Equipment [Member] | |
Property, plant and equipment, depreciation method | Straight-Line and Accelerated |
Furniture and Equipment [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Furniture and Equipment [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 10 years |
Note 2 - Investment Securitie37
Note 2 - Investment Securities (Details Textual) - USD ($) | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Proceeds from Sale of Available-for-sale Securities | $ 0 | $ 16,010,000 | |
Available-for-sale Securities, Gross Realized Gains | $ 0 | 135,000 | |
Depreciated Debt Securities With Unrealized Losses | 2.19% | ||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | ||
Available-for-sale Securities, Gross Realized Losses | 0 | $ 6,000 | |
Security Owned and Pledged as Collateral, Fair Value | $ 147,765,000 | $ 144,854,000 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 108 |
Note 2 - Investment Securitie38
Note 2 - Investment Securities - Schedule of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Available for sale securities, amortized cost | $ 343,733 | $ 331,267 |
Available for sale securities, gross unrealized gains | 252 | 94 |
Available for sale securities, gross unrealized losses | (6,275) | (7,703) |
Available for sale securities, fair value | 337,710 | 323,658 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities, amortized cost | 336,786 | 326,694 |
Available for sale securities, gross unrealized gains | 204 | 76 |
Available for sale securities, gross unrealized losses | (6,248) | (7,673) |
Available for sale securities, fair value | 330,742 | 319,097 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, amortized cost | 4,891 | 4,573 |
Available for sale securities, gross unrealized gains | 40 | 18 |
Available for sale securities, gross unrealized losses | (27) | (30) |
Available for sale securities, fair value | 4,904 | $ 4,561 |
Corporate Debt Securities [Member] | ||
Available for sale securities, amortized cost | 2,056 | |
Available for sale securities, gross unrealized gains | 8 | |
Available for sale securities, gross unrealized losses | ||
Available for sale securities, fair value | $ 2,064 |
Note 2 - Investment Securitie39
Note 2 - Investment Securities - Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Due In One Year or Less, amortized cost | $ 665 |
Due In One Year or Less, fair value | 667 |
Due After One Year Through Five Years, amortized cost | 4,535 |
Due After One Year Through Five Years, fair value | 4,524 |
Due After Five Years Through Ten Years, amortized cost | 1,053 |
Due After Five Years Through Ten Years, fair value | 1,077 |
Due After Ten Years, amortized cost | 694 |
Due After Ten Years, fair value | 700 |
Amortized cost with single maturity date | 6,947 |
Fair value with single maturity date | 6,968 |
Mortgage-Backed Securities, amortized cost | 336,786 |
Mortgage-Backed Securities, fair value | 330,742 |
Amortized cost | 343,733 |
Fair value | $ 337,710 |
Note 2 - Investment Securitie40
Note 2 - Investment Securities - Continuous Unrealized Loss Position (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Continuous unrealized loss, greater than 12 months, gross unrealized losses | $ (3,749) | $ (4,213) |
Continuous unrealized loss, fair value | 280,473 | 285,171 |
Continuous unrealized loss, gross unrealized losses | (6,275) | (7,703) |
Continuous unrealized loss, less than 12 months, fair value | 172,188 | 177,689 |
Continuous unrealized loss, less than 12 months, gross unrealized losses | (2,526) | (3,490) |
Continuous unrealized loss, greater than 12 months, fair value | 108,285 | 107,482 |
US Government Agencies Debt Securities [Member] | ||
Continuous unrealized loss, greater than 12 months, gross unrealized losses | (3,749) | (4,213) |
Continuous unrealized loss, fair value | 278,697 | 281,683 |
Continuous unrealized loss, gross unrealized losses | (6,248) | (7,673) |
Continuous unrealized loss, less than 12 months, fair value | 170,412 | 174,201 |
Continuous unrealized loss, less than 12 months, gross unrealized losses | (2,499) | (3,460) |
Continuous unrealized loss, greater than 12 months, fair value | 108,285 | 107,482 |
US States and Political Subdivisions Debt Securities [Member] | ||
Continuous unrealized loss, greater than 12 months, gross unrealized losses | ||
Continuous unrealized loss, fair value | 1,776 | 3,488 |
Continuous unrealized loss, gross unrealized losses | (27) | (30) |
Continuous unrealized loss, less than 12 months, fair value | 1,776 | 3,488 |
Continuous unrealized loss, less than 12 months, gross unrealized losses | (27) | (30) |
Continuous unrealized loss, greater than 12 months, fair value |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ||
Loans and Leases Receivable, Gross | $ 775,566,000 | $ 775,566,000 | $ 754,283,000 | $ 764,209,000 |
Loan Balance For Reviewing High Risk Loans Minimum | 250,000 | 250,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | 0 | ||
Doubtful [Member] | ||||
Loans and Leases Receivable, Gross | 0 | 0 | ||
Unlikely to be Collected Financing Receivable [Member] | ||||
Loans and Leases Receivable, Gross | $ 0 | $ 0 |
Note 3 - Loans - Segregated by
Note 3 - Loans - Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Loans | $ 775,566 | $ 754,283 | $ 764,209 |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 44,883 | 47,025 | 47,934 |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | |||
Loans | 21,810 | 17,080 | 24,307 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 355,801 | 349,090 | 345,181 |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | |||
Loans | 35,151 | 30,358 | 32,292 |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | |||
Loans | 9,230 | 11,830 | 9,141 |
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Loans | 200,572 | 195,580 | 196,140 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 70,194 | 66,877 | 70,137 |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | |||
Loans | 19,134 | 19,695 | 19,936 |
Consumer and Other Portfolio Segment [Member] | Other [Member] | |||
Loans | $ 18,791 | $ 16,748 | $ 19,141 |
Note 3 - Loans - Loan Portfolio
Note 3 - Loans - Loan Portfolio by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Loans | $ 775,566 | $ 754,283 | $ 764,209 |
Pass [Member] | |||
Loans | 737,172 | 707,965 | |
Special Mention [Member] | |||
Loans | 12,248 | 19,530 | |
Substandard [Member] | |||
Loans | 26,146 | 26,788 | |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 44,883 | 47,025 | 47,934 |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Pass [Member] | |||
Loans | 42,156 | 44,250 | |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Special Mention [Member] | |||
Loans | 1,864 | 1,862 | |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Substandard [Member] | |||
Loans | 863 | 913 | |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | |||
Loans | 21,810 | 17,080 | 24,307 |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Pass [Member] | |||
Loans | 21,110 | 16,586 | |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Special Mention [Member] | |||
Loans | 163 | 192 | |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Substandard [Member] | |||
Loans | 537 | 302 | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 355,801 | 349,090 | 345,181 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Pass [Member] | |||
Loans | 341,986 | 327,561 | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Special Mention [Member] | |||
Loans | 4,158 | 9,403 | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Substandard [Member] | |||
Loans | 9,657 | 12,126 | |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | |||
Loans | 35,151 | 30,358 | 32,292 |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Pass [Member] | |||
Loans | 31,324 | 28,425 | |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Special Mention [Member] | |||
Loans | 1,211 | 1,349 | |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Substandard [Member] | |||
Loans | 2,616 | 584 | |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | |||
Loans | 9,230 | 11,830 | 9,141 |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Pass [Member] | |||
Loans | 9,031 | 11,630 | |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Special Mention [Member] | |||
Loans | 0 | ||
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Substandard [Member] | |||
Loans | 199 | 200 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Loans | 200,572 | 195,580 | 196,140 |
Real Estate Portfolio Segment [Member] | Residential [Member] | Pass [Member] | |||
Loans | 185,981 | 178,618 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | Special Mention [Member] | |||
Loans | 3,636 | 5,659 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | Substandard [Member] | |||
Loans | 10,955 | 11,303 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 70,194 | 66,877 | 70,137 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | |||
Loans | 68,144 | 65,075 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | |||
Loans | 1,102 | 839 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | |||
Loans | 948 | 963 | |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | |||
Loans | 19,134 | 19,695 | 19,936 |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Pass [Member] | |||
Loans | 18,649 | 19,072 | |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Special Mention [Member] | |||
Loans | 114 | 226 | |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Substandard [Member] | |||
Loans | 371 | 397 | |
Consumer and Other Portfolio Segment [Member] | Other [Member] | |||
Loans | 18,791 | 16,748 | $ 19,141 |
Consumer and Other Portfolio Segment [Member] | Other [Member] | Pass [Member] | |||
Loans | 18,791 | 16,748 | |
Consumer and Other Portfolio Segment [Member] | Other [Member] | Special Mention [Member] | |||
Loans | 0 | ||
Consumer and Other Portfolio Segment [Member] | Other [Member] | Substandard [Member] | |||
Loans |
Note 3 - Loans - Age Analysis o
Note 3 - Loans - Age Analysis of Past Due Loans and Nonaccrual Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Accruing loans past due | $ 6,218 | $ 4,469 | |
Nonaccrual loans | 8,176 | 12,350 | |
Current loans | 761,172 | 737,464 | |
Loans | 775,566 | 754,283 | $ 764,209 |
Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 6,218 | 4,469 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | |||
Accruing loans past due | 615 | 420 | |
Nonaccrual loans | 608 | 635 | |
Current loans | 43,660 | 45,970 | |
Loans | 44,883 | 47,025 | 47,934 |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 615 | 420 | |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | |||
Accruing loans past due | 202 | 33 | |
Nonaccrual loans | 348 | 209 | |
Current loans | 21,260 | 16,838 | |
Loans | 21,810 | 17,080 | 24,307 |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 202 | 33 | |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Accruing loans past due | 1,233 | 492 | |
Nonaccrual loans | 3,079 | 6,360 | |
Current loans | 351,489 | 342,238 | |
Loans | 355,801 | 349,090 | 345,181 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 1,233 | 492 | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | |||
Accruing loans past due | 792 | 54 | |
Nonaccrual loans | 102 | 190 | |
Current loans | 34,257 | 30,114 | |
Loans | 35,151 | 30,358 | 32,292 |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 792 | 54 | |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | |||
Accruing loans past due | |||
Nonaccrual loans | 199 | ||
Current loans | 9,031 | 11,830 | |
Loans | 9,230 | 11,830 | 9,141 |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Accruing loans past due | 2,984 | 3,179 | |
Nonaccrual loans | 3,013 | 3,944 | |
Current loans | 194,575 | 188,457 | |
Loans | 200,572 | 195,580 | 196,140 |
Real Estate Portfolio Segment [Member] | Residential [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 2,984 | 3,179 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Accruing loans past due | 187 | 95 | |
Nonaccrual loans | 678 | 800 | |
Current loans | 69,329 | 65,982 | |
Loans | 70,194 | 66,877 | 70,137 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 187 | 95 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | |||
Accruing loans past due | 205 | 196 | |
Nonaccrual loans | 149 | 212 | |
Current loans | 18,780 | 19,287 | |
Loans | 19,134 | 19,695 | 19,936 |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 205 | 196 | |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Consumer and Other Portfolio Segment [Member] | Other [Member] | |||
Accruing loans past due | |||
Nonaccrual loans | |||
Current loans | 18,791 | 16,748 | |
Loans | 18,791 | 16,748 | $ 19,141 |
Consumer and Other Portfolio Segment [Member] | Other [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | |||
Consumer and Other Portfolio Segment [Member] | Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due |
Note 3 - Loans - Impaired Loan
Note 3 - Loans - Impaired Loan Data (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Impaired balance with an allowance | $ 7,657 | $ 10,009 | $ 10,387 |
Average recorded investment with an allowance | 7,919 | 9,781 | 9,871 |
Interest income recognized with an allowance | 146 | 140 | 289 |
Interest income collected with an allowance | 149 | 138 | 291 |
Unpaid contractual principal balance | 25,893 | 33,950 | 31,292 |
Impaired balance | 25,067 | 32,833 | 30,661 |
Related allowance | 1,567 | 3,381 | 3,435 |
Average recorded investment | 28,038 | 30,880 | 31,375 |
Interest income recognized | 557 | 426 | 1,001 |
Interest income collected | 579 | 559 | 1,126 |
Unpaid contractual principal balance with no related allowance | 18,228 | 23,919 | 20,807 |
Impaired balance with no related allowance | 17,410 | 22,824 | 20,274 |
Average recorded investment with no related allowance | 20,119 | 21,099 | 21,504 |
Interest income recognized with no related allowance | 411 | 286 | 712 |
Interest income collected with no related allowance | 430 | 421 | 835 |
Unpaid contractual principal balance with an allowance | 7,665 | 10,031 | 10,485 |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | |||
Impaired balance with an allowance | |||
Average recorded investment with an allowance | 50 | 30 | |
Interest income recognized with an allowance | |||
Interest income collected with an allowance | |||
Unpaid contractual principal balance | 608 | 460 | 635 |
Impaired balance | 608 | 460 | 635 |
Related allowance | |||
Average recorded investment | 639 | 522 | 569 |
Interest income recognized | 11 | 4 | 24 |
Interest income collected | 15 | 5 | 27 |
Unpaid contractual principal balance with no related allowance | 608 | 460 | 635 |
Impaired balance with no related allowance | 608 | 460 | 635 |
Average recorded investment with no related allowance | 639 | 472 | 539 |
Interest income recognized with no related allowance | 11 | 4 | 24 |
Interest income collected with no related allowance | 15 | 5 | 27 |
Unpaid contractual principal balance with an allowance | |||
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | |||
Impaired balance with an allowance | 0 | 0 | 0 |
Average recorded investment with an allowance | 0 | 0 | 0 |
Interest income recognized with an allowance | 0 | 0 | 0 |
Interest income collected with an allowance | 0 | 0 | 0 |
Unpaid contractual principal balance | 370 | 213 | 229 |
Impaired balance | 349 | 192 | 209 |
Related allowance | 0 | 0 | 0 |
Average recorded investment | 254 | 188 | 210 |
Interest income recognized | 11 | 9 | 9 |
Interest income collected | 13 | 13 | 12 |
Unpaid contractual principal balance with no related allowance | 370 | 213 | 229 |
Impaired balance with no related allowance | 349 | 192 | 209 |
Average recorded investment with no related allowance | 254 | 188 | 210 |
Interest income recognized with no related allowance | 11 | 9 | 9 |
Interest income collected with no related allowance | 13 | 13 | 12 |
Unpaid contractual principal balance with an allowance | 0 | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Impaired balance with an allowance | 7,169 | 8,695 | 8,467 |
Average recorded investment with an allowance | 6,714 | 8,305 | 8,340 |
Interest income recognized with an allowance | 135 | 127 | 239 |
Interest income collected with an allowance | 134 | 124 | 236 |
Unpaid contractual principal balance | 17,623 | 25,092 | 22,915 |
Impaired balance | 17,623 | 24,310 | 22,743 |
Related allowance | 1,517 | 2,886 | 3,022 |
Average recorded investment | 20,257 | 21,882 | 22,615 |
Interest income recognized | 361 | 398 | 806 |
Interest income collected | 356 | 394 | 796 |
Unpaid contractual principal balance with no related allowance | 10,454 | 16,383 | 14,358 |
Impaired balance with no related allowance | 10,454 | 15,615 | 14,276 |
Average recorded investment with no related allowance | 13,543 | 13,577 | 14,275 |
Interest income recognized with no related allowance | 226 | 271 | 567 |
Interest income collected with no related allowance | 222 | 270 | 560 |
Unpaid contractual principal balance with an allowance | 7,169 | 8,709 | 8,557 |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | |||
Impaired balance with an allowance | 71 | 74 | 72 |
Average recorded investment with an allowance | 72 | 75 | 74 |
Interest income recognized with an allowance | 2 | 1 | |
Interest income collected with an allowance | 2 | 2 | |
Unpaid contractual principal balance | 173 | 527 | 263 |
Impaired balance | 173 | 502 | 263 |
Related allowance | 4 | 22 | 21 |
Average recorded investment | 231 | 1,005 | 772 |
Interest income recognized | 3 | 8 | 8 |
Interest income collected | 3 | 7 | 9 |
Unpaid contractual principal balance with no related allowance | 102 | 453 | 191 |
Impaired balance with no related allowance | 102 | 428 | 191 |
Average recorded investment with no related allowance | 159 | 930 | 698 |
Interest income recognized with no related allowance | 1 | 8 | 7 |
Interest income collected with no related allowance | 1 | 7 | 7 |
Unpaid contractual principal balance with an allowance | 71 | 74 | 72 |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | |||
Impaired balance with an allowance | |||
Average recorded investment with an allowance | |||
Interest income recognized with an allowance | |||
Interest income collected with an allowance | |||
Unpaid contractual principal balance | 199 | ||
Impaired balance | 199 | ||
Related allowance | |||
Average recorded investment | 66 | ||
Interest income recognized | 5 | ||
Interest income collected | 5 | ||
Unpaid contractual principal balance with no related allowance | 199 | ||
Impaired balance with no related allowance | 199 | ||
Average recorded investment with no related allowance | 66 | ||
Interest income recognized with no related allowance | 5 | ||
Interest income collected with no related allowance | 5 | ||
Unpaid contractual principal balance with an allowance | |||
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Impaired balance with an allowance | 41 | 856 | 1,468 |
Average recorded investment with an allowance | 755 | 965 | 1,043 |
Interest income recognized with an allowance | (2) | 3 | 28 |
Interest income collected with an allowance | 2 | 3 | 32 |
Unpaid contractual principal balance | 5,716 | 6,091 | 5,737 |
Impaired balance | 4,912 | 5,812 | 5,420 |
Related allowance | 20 | 440 | 363 |
Average recorded investment | 5,266 | 5,571 | 5,596 |
Interest income recognized | 96 | (4) | 101 |
Interest income collected | 117 | 122 | 223 |
Unpaid contractual principal balance with no related allowance | 5,667 | 5,227 | 4,261 |
Impaired balance with no related allowance | 4,871 | 4,956 | 3,952 |
Average recorded investment with no related allowance | 4,511 | 4,606 | 4,553 |
Interest income recognized with no related allowance | 98 | (7) | 73 |
Interest income collected with no related allowance | 115 | 119 | 191 |
Unpaid contractual principal balance with an allowance | 49 | 864 | 1,476 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Impaired balance with an allowance | 376 | 384 | 380 |
Average recorded investment with an allowance | 378 | 386 | 384 |
Interest income recognized with an allowance | 11 | 10 | 21 |
Interest income collected with an allowance | 11 | 11 | 21 |
Unpaid contractual principal balance | 1,055 | 1,319 | 1,301 |
Impaired balance | 1,054 | 1,317 | 1,179 |
Related allowance | 26 | 33 | 29 |
Average recorded investment | 1,137 | 1,507 | 1,400 |
Interest income recognized | 67 | 7 | 43 |
Interest income collected | 67 | 12 | 47 |
Unpaid contractual principal balance with no related allowance | 679 | 935 | 921 |
Impaired balance with no related allowance | 678 | 933 | 799 |
Average recorded investment with no related allowance | 759 | 1,121 | 1,016 |
Interest income recognized with no related allowance | 56 | (3) | 22 |
Interest income collected with no related allowance | 56 | 1 | 26 |
Unpaid contractual principal balance with an allowance | 376 | 384 | 380 |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | |||
Impaired balance with an allowance | 0 | 0 | 0 |
Average recorded investment with an allowance | 0 | 0 | 0 |
Interest income recognized with an allowance | 0 | 0 | 0 |
Interest income collected with an allowance | 0 | 0 | 0 |
Unpaid contractual principal balance | 149 | 248 | 212 |
Impaired balance | 149 | 240 | 212 |
Related allowance | 0 | 0 | 0 |
Average recorded investment | 188 | 205 | 213 |
Interest income recognized | 3 | 4 | 10 |
Interest income collected | 3 | 6 | 12 |
Unpaid contractual principal balance with no related allowance | 149 | 248 | 212 |
Impaired balance with no related allowance | 149 | 240 | 212 |
Average recorded investment with no related allowance | 188 | 205 | 213 |
Interest income recognized with no related allowance | 3 | 4 | 10 |
Interest income collected with no related allowance | 3 | 6 | 12 |
Unpaid contractual principal balance with an allowance | 0 | 0 | $ 0 |
Consumer and Other Portfolio Segment [Member] | Other [Member] | |||
Impaired balance with an allowance | |||
Average recorded investment with an allowance | |||
Interest income recognized with an allowance | |||
Interest income collected with an allowance | |||
Unpaid contractual principal balance | |||
Impaired balance | |||
Related allowance | |||
Average recorded investment | |||
Interest income recognized | |||
Interest income collected | |||
Unpaid contractual principal balance with no related allowance | |||
Impaired balance with no related allowance | |||
Average recorded investment with no related allowance | |||
Interest income recognized with no related allowance | |||
Interest income collected with no related allowance | |||
Unpaid contractual principal balance with an allowance |
Note 3 - Loans - Modified in a
Note 3 - Loans - Modified in a Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | |
Post-modification | $ 91 | $ 91 | ||
Number of contracts | 1 | 1 | ||
Pre-modification | $ 91 | $ 91 | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | ||||
Post-modification | $ 91 | $ 91 | ||
Number of contracts | 1 | 1 | ||
Pre-modification | $ 91 | $ 91 |
Note 4 - Allowance for Loan L47
Note 4 - Allowance for Loan Losses (Details Textual) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Dec. 31, 2015USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | |
Allowance for Loan Losses, Loss History Period, Number of Quarters | 16 | 8 | |||
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 431,600 | ||||
Loan Balance For Reviewing High Risk Loans Minimum | 250,000 | ||||
Impaired Financing Receivable Recorded Investment Below Review Threshold | $ 4,300,000 | $ 3,800,000 | |||
Impaired Financing Receivable, Number of Loans Below Review Threshold | 153 | 165 | |||
Loans and Leases Receivable, Gross | $ 775,566,000 | $ 754,283,000 | $ 764,209,000 | ||
Loans and Leases Receivable, Allowance | $ 8,604,000 | 8,043,000 | 8,923,000 | 9,390,000 | |
Substandard [Member] | |||||
Loans and Leases Receivable, Gross | 26,146,000 | $ 26,788,000 | |||
Loans Not Classified as Impaired [Member] | Substandard [Member] | |||||
Loans and Leases Receivable, Gross | 13,040,000 | 12,640,000 | |||
Loans and Leases Receivable, Allowance | $ 1,190,000 | $ 791,000 |
Note 4 - Allowance for Loan L48
Note 4 - Allowance for Loan Losses - Segregated by Class of Loan (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Provision for Loan Losses | $ 354 | $ 335 | $ 708 | |
Allowance for loan losses, ending balance | 8,043 | 9,390 | 8,043 | 9,390 |
Allowance for loan losses, beginning balance | 8,923 | 8,604 | ||
Allowance for loan losses, charge-offs | (1,865) | (1,107) | ||
Allowance for loan losses, recoveries | 650 | 1,185 | ||
Commercial [Member] | Commercial and Agricultural Portfolio Segment [Member] | ||||
Provision for Loan Losses | (7) | (100) | ||
Allowance for loan losses, ending balance | 425 | 555 | 425 | 555 |
Allowance for loan losses, beginning balance | 456 | 855 | ||
Allowance for loan losses, charge-offs | (124) | (225) | ||
Allowance for loan losses, recoveries | 100 | 25 | ||
Commercial [Member] | Real Estate Portfolio Segment [Member] | ||||
Provision for Loan Losses | (424) | 2,136 | ||
Allowance for loan losses, ending balance | 4,663 | 5,598 | 4,663 | 5,598 |
Allowance for loan losses, beginning balance | 5,751 | 3,851 | ||
Allowance for loan losses, charge-offs | (966) | (569) | ||
Allowance for loan losses, recoveries | 302 | 180 | ||
Agricultural [Member] | Commercial and Agricultural Portfolio Segment [Member] | ||||
Provision for Loan Losses | 72 | 64 | ||
Allowance for loan losses, ending balance | 238 | 251 | 238 | 251 |
Allowance for loan losses, beginning balance | 168 | 203 | ||
Allowance for loan losses, charge-offs | (4) | (18) | ||
Allowance for loan losses, recoveries | 2 | 2 | ||
Commercial Construction [Member] | Real Estate Portfolio Segment [Member] | ||||
Provision for Loan Losses | 334 | (1,032) | ||
Allowance for loan losses, ending balance | 770 | 438 | 770 | 438 |
Allowance for loan losses, beginning balance | 323 | 691 | ||
Allowance for loan losses, charge-offs | (49) | (25) | ||
Allowance for loan losses, recoveries | 162 | 804 | ||
Residential Construction [Member] | Real Estate Portfolio Segment [Member] | ||||
Provision for Loan Losses | (2) | (2) | ||
Allowance for loan losses, ending balance | 11 | 18 | 11 | 18 |
Allowance for loan losses, beginning balance | 13 | 20 | ||
Allowance for loan losses, charge-offs | ||||
Allowance for loan losses, recoveries | ||||
Residential [Member] | Real Estate Portfolio Segment [Member] | ||||
Provision for Loan Losses | 148 | (242) | ||
Allowance for loan losses, ending balance | 972 | 1,612 | 972 | 1,612 |
Allowance for loan losses, beginning balance | 1,396 | 1,990 | ||
Allowance for loan losses, charge-offs | (605) | (159) | ||
Allowance for loan losses, recoveries | 33 | 23 | ||
Farmland [Member] | Real Estate Portfolio Segment [Member] | ||||
Provision for Loan Losses | 137 | (241) | ||
Allowance for loan losses, ending balance | 859 | 796 | 859 | 796 |
Allowance for loan losses, beginning balance | 722 | 912 | ||
Allowance for loan losses, charge-offs | ||||
Allowance for loan losses, recoveries | 125 | |||
Consumer [Member] | Consumer and Other Portfolio Segment [Member] | ||||
Provision for Loan Losses | 70 | 123 | ||
Allowance for loan losses, ending balance | 84 | 96 | 84 | 96 |
Allowance for loan losses, beginning balance | 80 | 63 | ||
Allowance for loan losses, charge-offs | (117) | (111) | ||
Allowance for loan losses, recoveries | 51 | 21 | ||
Other [Member] | Consumer and Other Portfolio Segment [Member] | ||||
Provision for Loan Losses | 7 | 2 | ||
Allowance for loan losses, ending balance | $ 21 | $ 26 | 21 | 26 |
Allowance for loan losses, beginning balance | 14 | 19 | ||
Allowance for loan losses, charge-offs | ||||
Allowance for loan losses, recoveries | $ 5 |
Note 4 - Allowance for Loan L49
Note 4 - Allowance for Loan Losses - Segregated by Impairment Methodology (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Ending allowance balance, collectively evaluated for impairment | $ 6,476 | $ 6,009 | ||
Ending allowance balance | 8,043 | $ 8,923 | 9,390 | $ 8,604 |
Ending loan balance, individually evaluated for impairment | 20,778 | 22,513 | ||
Ending loan balance, collectively evaluated for impairment | 754,788 | 741,696 | ||
Ending loan balance | 775,566 | 754,283 | 764,209 | |
Ending allowance balance, individually evaluated for impairment | 1,567 | 3,381 | ||
Commercial [Member] | Commercial and Agricultural Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 425 | 555 | ||
Ending allowance balance | 425 | 456 | 555 | 855 |
Ending loan balance, individually evaluated for impairment | 33 | 9 | ||
Ending loan balance, collectively evaluated for impairment | 44,850 | 47,925 | ||
Ending loan balance | 44,883 | 47,025 | 47,934 | |
Ending allowance balance, individually evaluated for impairment | ||||
Commercial [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 3,146 | 2,712 | ||
Ending allowance balance | 4,663 | 5,751 | 5,598 | 3,851 |
Ending loan balance, individually evaluated for impairment | 17,292 | 17,463 | ||
Ending loan balance, collectively evaluated for impairment | 338,509 | 327,718 | ||
Ending loan balance | 355,801 | 349,090 | 345,181 | |
Ending allowance balance, individually evaluated for impairment | 1,517 | 2,886 | ||
Agricultural [Member] | Commercial and Agricultural Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 238 | 251 | ||
Ending allowance balance | 238 | 168 | 251 | 203 |
Ending loan balance, individually evaluated for impairment | 5 | |||
Ending loan balance, collectively evaluated for impairment | 21,805 | 24,307 | ||
Ending loan balance | 21,810 | 17,080 | 24,307 | |
Ending allowance balance, individually evaluated for impairment | ||||
Commercial Construction [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 766 | 416 | ||
Ending allowance balance | 770 | 323 | 438 | 691 |
Ending loan balance, individually evaluated for impairment | 72 | 384 | ||
Ending loan balance, collectively evaluated for impairment | 35,079 | 31,908 | ||
Ending loan balance | 35,151 | 30,358 | 32,292 | |
Ending allowance balance, individually evaluated for impairment | 4 | 22 | ||
Residential Construction [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 11 | 18 | ||
Ending allowance balance | 11 | 13 | 18 | 20 |
Ending loan balance, individually evaluated for impairment | ||||
Ending loan balance, collectively evaluated for impairment | 9,230 | 9,141 | ||
Ending loan balance | 9,230 | 11,830 | 9,141 | |
Ending allowance balance, individually evaluated for impairment | ||||
Residential [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 952 | 1,172 | ||
Ending allowance balance | 972 | 1,396 | 1,612 | 1,990 |
Ending loan balance, individually evaluated for impairment | 2,336 | 3,609 | ||
Ending loan balance, collectively evaluated for impairment | 198,236 | 192,531 | ||
Ending loan balance | 200,572 | 195,580 | 196,140 | |
Ending allowance balance, individually evaluated for impairment | 20 | 440 | ||
Farmland [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 833 | 763 | ||
Ending allowance balance | 859 | 722 | 796 | 912 |
Ending loan balance, individually evaluated for impairment | 1,040 | 1,048 | ||
Ending loan balance, collectively evaluated for impairment | 69,154 | 69,089 | ||
Ending loan balance | 70,194 | 66,877 | 70,137 | |
Ending allowance balance, individually evaluated for impairment | 26 | 33 | ||
Consumer [Member] | Consumer and Other Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 84 | 96 | ||
Ending allowance balance | 84 | 80 | 96 | 63 |
Ending loan balance, individually evaluated for impairment | ||||
Ending loan balance, collectively evaluated for impairment | 19,134 | 19,936 | ||
Ending loan balance | 19,134 | 19,695 | 19,936 | |
Ending allowance balance, individually evaluated for impairment | ||||
Other [Member] | Consumer and Other Portfolio Segment [Member] | ||||
Ending allowance balance, collectively evaluated for impairment | 21 | 26 | ||
Ending allowance balance | 21 | 14 | 26 | $ 19 |
Ending loan balance, individually evaluated for impairment | ||||
Ending loan balance, collectively evaluated for impairment | 18,791 | 19,141 | ||
Ending loan balance | 18,791 | $ 16,748 | 19,141 | |
Ending allowance balance, individually evaluated for impairment |
Note 5 - Other Real Estate Ow50
Note 5 - Other Real Estate Owned (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Other Real Estate | $ 4,525 | $ 6,439 | $ 8,839 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 423 | 431 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 317 | $ 204 |
Note 5 - Other Real Estate Ow51
Note 5 - Other Real Estate Owned - Change in OREO (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Balance, Beginning | $ 6,439 | $ 8,839 |
Additions | 432 | 5,664 |
Sales of OREO | (2,236) | (7,416) |
Gains (Losses) on Sale | 96 | (146) |
Provision for Losses | (206) | (502) |
Balance, Ending | $ 4,525 | $ 6,439 |
Note 6 - Deposits (Details Text
Note 6 - Deposits (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Deposit Liabilities Reclassified as Loans Receivable | $ 457 | $ 414 |
Interest-bearing Domestic Deposit, Brokered | 49,052 | 49,303 |
Short-term Jumbo Certificates of Deposit [Member] | ||
Time Deposits, at or Above FDIC Insurance Limit | 21,359 | 25,446 |
Certificates of Deposit [Member] | ||
Time Deposits, at or Above FDIC Insurance Limit | $ 26,347 | $ 32,168 |
Note 6 - Deposits - Components
Note 6 - Deposits - Components of Interest-bearing Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Interest-Bearing Demand | $ 432,635 | $ 448,004 |
Savings | 76,294 | 70,066 |
Time, $250,000 and Over | 26,347 | 32,168 |
Other Time | 328,334 | 335,060 |
$ 863,610 | $ 885,298 |
Note 6 - Deposits - Scheduled M
Note 6 - Deposits - Scheduled Maturities of Certificates of Deposit (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
One Year and Under | $ 258,785 | $ 256,886 |
One to Three Years | 73,550 | 85,794 |
Three Years and Over | 22,346 | 24,548 |
$ 354,681 | $ 367,228 |
Note 7 - Other Borrowed Money55
Note 7 - Other Borrowed Money (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Due Date, Earliest | 2,018 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Due Date, Last | 2,026 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 118,022 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 250,736 |
Long-term Line of Credit | 0 |
Line of Credit Facility, Current Borrowing Capacity | 43,500 |
Notes Payable to Banks [Member] | |
Short-term Debt | $ 5,000 |
Debt Instrument, Term | 1 year |
Debt Instrument, Interest Rate, Stated Percentage | 5.00% |
Notes Payable to Banks [Member] | Prime Rate [Member] | |
Debt Instrument, Basis Spread on Variable Rate | 0.75% |
Federal Reserve Bank Advances [Member] | |
Short-term Debt | $ 0 |
Minimum [Member] | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 0.98% |
Maximum [Member] | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 3.51% |
Note 7 - Other Borrowed Money -
Note 7 - Other Borrowed Money - Summary of Other Borrowed Money (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Federal Home Loan Bank Advances | $ 51 | $ 46 |
Other Borrowings | 5 | |
$ 56 | $ 46 |
Note 7 - Other Borrowed Money57
Note 7 - Other Borrowed Money - Aggregate Stated Maturities (Details) - Other Borrowings [Member] $ in Millions | Jun. 30, 2017USD ($) |
2,018 | $ 12.5 |
2,019 | 5 |
2,020 | 2.5 |
After 2,020 | 36 |
$ 56 |
Note 8 - Preferred Stock and 58
Note 8 - Preferred Stock and Warrants (Details Textual) - $ / shares | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2017 | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 500,000 | |||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 8.40 | |||
Series A Preferred Stock [Member] | ||||
Preferred Stock, Redemption Price Per Share | $ 1,000 | $ 1,000 | ||
Stock Redeemed or Called During Period, Shares | 9,360 | 8,661 | 9,979 | |
Preferred Stock, Shares Outstanding | 0 |
Note 9 - Subordinated Debentu59
Note 9 - Subordinated Debentures (Trusted Preferred Securities) - Schedule of Subordinated Debentures (Details) - Trust Preferred Securities Subject to Mandatory Redemption [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Colony Bankcorp Statutory Trust III [Member] | |
Total interest rate | 3.94744% |
Maturity date | Jun. 14, 2034 |
5 year call option | Jun. 17, 2009 |
Issuance date | Jun. 17, 2004 |
Debt amount | $ 4,640 |
Colony Bankcorp Statutory Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
3 month LIBOR rate | 1.26744% |
Added points | 2.68% |
Colony Bankcorp Capital Trust I [Member] | |
Total interest rate | 2.79639% |
Maturity date | Apr. 13, 2036 |
5 year call option | Apr. 13, 2011 |
Issuance date | Apr. 13, 2006 |
Debt amount | $ 5,155 |
Colony Bankcorp Capital Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
3 month LIBOR rate | 1.29639% |
Added points | 1.50% |
Colony Bankcorp Capital Trust II [Member] | |
Total interest rate | 2.94639% |
Maturity date | Mar. 12, 2037 |
5 year call option | Mar. 12, 2012 |
Issuance date | Mar. 12, 2007 |
Debt amount | $ 9,279 |
Colony Bankcorp Capital Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
3 month LIBOR rate | 1.29639% |
Added points | 1.65% |
Colony Bankcorp Capital Trust III [Member] | |
Total interest rate | 2.56956% |
Maturity date | Sep. 14, 2037 |
5 year call option | Sep. 14, 2012 |
Issuance date | Sep. 14, 2007 |
Debt amount | $ 5,155 |
Colony Bankcorp Capital Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
3 month LIBOR rate | 1.16956% |
Added points | 1.40% |
Note 10 - Commitments and Con60
Note 10 - Commitments and Contingencies (Details Textual) | 6 Months Ended |
Jun. 30, 2017 | |
Expiration Period Of Letter Of Credit Issued | 1 year |
Note 10 - Commitments and Con61
Note 10 - Commitments and Contingencies - Financial Instruments Outstanding Whose Contract Amount Represents Credit Risk (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Letters of Credit | $ 1,445 | $ 1,551 |
Loan Origination Commitments [Member] | ||
Loan Commitments | $ 96,380 | $ 71,359 |
Note 11 - Fair Value of Finan62
Note 11 - Fair Value of Financial Instruments and Fair Value Measurements (Details Textual) | Jun. 30, 2017 |
Discounted Rate To Account For Selling And Marketing Costs | 10.00% |
Note 11 - Fair Value of Finan63
Note 11 - Fair Value of Financial Instruments and Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Investment Securities Available for Sale | $ 337,710 | $ 323,658 |
Reported Value Measurement [Member] | ||
Cash and Short-Term Investments | 30,059 | 75,167 |
Investment Securities Available for Sale | 337,710 | 323,658 |
Federal Home Loan Bank Stock | 3,255 | 3,010 |
Loans, Net | 767,069 | 744,999 |
Bank-Owned Life Insurance | 15,724 | 15,419 |
Liabilities | ||
Deposits | 1,026,538 | 1,044,357 |
Subordinated Debentures | 24,229 | 24,229 |
Other Borrowed Money | 56,000 | 46,000 |
Estimate of Fair Value Measurement [Member] | ||
Cash and Short-Term Investments | 30,059 | 75,167 |
Investment Securities Available for Sale | 337,710 | 323,658 |
Federal Home Loan Bank Stock | 3,255 | 3,010 |
Loans, Net | 767,523 | 745,240 |
Bank-Owned Life Insurance | 15,724 | 15,419 |
Liabilities | ||
Deposits | 1,026,846 | 1,045,726 |
Subordinated Debentures | 24,229 | 24,229 |
Other Borrowed Money | 56,251 | 46,232 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and Short-Term Investments | 30,059 | 75,167 |
Investment Securities Available for Sale | ||
Federal Home Loan Bank Stock | 3,255 | 3,010 |
Loans, Net | ||
Bank-Owned Life Insurance | 15,724 | 15,419 |
Liabilities | ||
Deposits | 671,857 | 677,129 |
Subordinated Debentures | ||
Other Borrowed Money | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and Short-Term Investments | ||
Investment Securities Available for Sale | 337,134 | 323,082 |
Federal Home Loan Bank Stock | ||
Loans, Net | 761,433 | 738,288 |
Bank-Owned Life Insurance | ||
Liabilities | ||
Deposits | 354,989 | 368,597 |
Subordinated Debentures | 24,229 | 24,229 |
Other Borrowed Money | 56,251 | 46,232 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and Short-Term Investments | ||
Investment Securities Available for Sale | 576 | 576 |
Federal Home Loan Bank Stock | ||
Loans, Net | $ 6,090 | 6,952 |
Bank-Owned Life Insurance | ||
Liabilities | ||
Deposits | ||
Subordinated Debentures | ||
Other Borrowed Money |
Note 11 - Fair Value of Finan64
Note 11 - Fair Value of Financial Instruments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Impaired Loans [Member] | ||
Assets, fair value, nonrecurring | $ 6,090,000 | $ 6,952,000 |
Other Real Estate [Member] | ||
Assets, fair value, nonrecurring | 1,857,000 | 2,505,000 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Assets, fair value, nonrecurring | 6,090,000 | 6,952,000 |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate [Member] | ||
Assets, fair value, nonrecurring | 1,857,000 | 2,505,000 |
Available-for-sale Securities [Member] | ||
Assets, fair value, recurring | 337,710,000 | 323,658,000 |
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value, recurring | 337,134,000 | 323,082,000 |
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value, recurring | 576,000 | 576,000 |
US Government Agencies Debt Securities [Member] | Available-for-sale Securities [Member] | ||
Assets, fair value, recurring | 330,742 | 319,097 |
US Government Agencies Debt Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value, recurring | ||
US Government Agencies Debt Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value, recurring | 330,742 | 319,097 |
US Government Agencies Debt Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value, recurring | ||
US States and Political Subdivisions Debt Securities [Member] | Available-for-sale Securities [Member] | ||
Assets, fair value, recurring | 4,904,000 | 4,561,000 |
US States and Political Subdivisions Debt Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value, recurring | 4,328,000 | 3,985,000 |
US States and Political Subdivisions Debt Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value, recurring | 576,000 | $ 576,000 |
Corporate Debt Securities [Member] | Available-for-sale Securities [Member] | ||
Assets, fair value, recurring | 2,064,000 | |
Corporate Debt Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value, recurring | $ 2,064,000 |
Note 11 - Fair Value of Finan65
Note 11 - Fair Value of Financial Instruments and Fair Value Measurements - Quantitative Information for Financial Instruments Measured at Fair Value (Details) - Fair Value, Inputs, Level 3 [Member] - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial Construction [Member] | ||
Assets measured at fair value | $ 67 | |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial Construction [Member] | ||
Assets measured at fair value | $ 51 | |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial Construction [Member] | Minimum [Member] | ||
Fair value inputs, management adjustments | 0.00% | 0.00% |
Fair value inputs, comparability adjustments | (5.00%) | (5.00%) |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial Construction [Member] | Maximum [Member] | ||
Fair value inputs, management adjustments | 10.00% | 10.00% |
Fair value inputs, comparability adjustments | 99.00% | 99.00% |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial Construction [Member] | Weighted Average [Member] | ||
Fair value inputs, management adjustments | 5.00% | 5.00% |
Fair value inputs, comparability adjustments | 47.00% | 47.00% |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Residential [Member] | ||
Assets measured at fair value | $ 21 | $ 1,105 |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Residential [Member] | Minimum [Member] | ||
Fair value inputs, management adjustments | 10.00% | 0.00% |
Fair value inputs, comparability adjustments | (22.00%) | (22.00%) |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Residential [Member] | Maximum [Member] | ||
Fair value inputs, management adjustments | 25.00% | 40.00% |
Fair value inputs, comparability adjustments | (6.00%) | 0.00% |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Residential [Member] | Weighted Average [Member] | ||
Fair value inputs, management adjustments | 17.50% | 20.00% |
Fair value inputs, comparability adjustments | (14.00%) | (11.00%) |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial [Member] | ||
Assets measured at fair value | $ 5,652 | $ 5,445 |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial [Member] | Minimum [Member] | ||
Fair value inputs, management adjustments | 0.00% | 0.00% |
Fair value inputs, comparability adjustments | (14.08%) | |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial [Member] | Maximum [Member] | ||
Fair value inputs, management adjustments | 10.00% | 100.00% |
Fair value inputs, comparability adjustments | 24.62% | |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Commercial [Member] | Weighted Average [Member] | ||
Fair value inputs, management adjustments | 5.00% | 50.00% |
Fair value inputs, comparability adjustments | 5.27% | |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Farmland [Member] | ||
Assets measured at fair value | $ 350 | $ 351 |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Farmland [Member] | Minimum [Member] | ||
Fair value inputs, management adjustments | 10.00% | 10.00% |
Fair value inputs, comparability adjustments | 0.00% | (27.00%) |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Farmland [Member] | Maximum [Member] | ||
Fair value inputs, management adjustments | 75.00% | 75.00% |
Fair value inputs, comparability adjustments | 15.00% | 15.00% |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Farmland [Member] | Weighted Average [Member] | ||
Fair value inputs, management adjustments | 42.50% | 42.50% |
Fair value inputs, comparability adjustments | 7.50% | (6.00%) |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | ||
Assets measured at fair value | $ 1,857 | $ 2,505 |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Minimum [Member] | ||
Fair value inputs, management adjustments | 6.25% | 6.25% |
Fair value inputs, comparability adjustments | (15.00%) | (50.80%) |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Maximum [Member] | ||
Fair value inputs, management adjustments | 81.27% | 76.92% |
Fair value inputs, comparability adjustments | 37.60% | 316.00% |
Real Estate Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | ||
Fair value inputs, management adjustments | 31.23% | 36.31% |
Fair value inputs, comparability adjustments | 11.30% | 132.60% |
Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Commercial [Member] | Weighted Average [Member] | ||
Fair value inputs, management adjustments | 10.67% | |
Fair value inputs, capitalization rate | 10.67% | |
Real Estate Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | ||
Range Weighted Average | 12.50% |
Note 11 - Fair Value of Finan66
Note 11 - Fair Value of Financial Instruments and Fair Value Measurements - Fair Value Measurement Using Significant Unobservable Inputs (Details) - Available-for-sale Securities [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Balance, available for sale securities | $ 576 | $ 930 |
Maturities | (330) | |
Loss on OTTI Impairment Included in Noninterest Income | ||
Unrealized Gains included in Other Comprehensive Income (Loss) | (24) | |
Balance, available for sale securities | $ 576 | $ 576 |
Note 11 - Fair Value of Finan67
Note 11 - Fair Value of Financial Instruments and Fair Value Measurements - Quantitative Information About Recurring Level 3 Fair Value Measurement (Details) - US States and Political Subdivisions Debt Securities [Member] $ in Thousands | 6 Months Ended | |
Jun. 30, 2017USD ($) | ||
Fair Value | $ 576 | |
Range Weighted Average | [1] | |
[1] | The Company relies on a third-party pricing service to value its municipal securities. The details of the unobservable inputs and other adjustments used by the third-party pricing service were not readily available to the Company. |
Note 12 - Regulatory Capital 68
Note 12 - Regulatory Capital Matters (Details Textual) | Jun. 30, 2017 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets Rule 1 | 0.625% |
Increase in Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 0.625% |
Tier 1 Capital Conservation Buffer of Risk Weighted Assets | 2.50% |
Note 12 - Regulatory Capital 69
Note 12 - Regulatory Capital Matters - Summary of Regulatory Capital Information (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Tier I Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Capital | $ 124,460 | $ 130,785 |
Capital to Risk-Weighted Assets | 15.32% | 16.64% |
Capital Required for Capital Adequacy | $ 65,001 | $ 62,880 |
Capital Required for Capital Adequacy to Risk-Weighted Assets | 8.00% | 8.00% |
Tier I Risk Based Capital | $ 116,417 | $ 121,862 |
Tier I Risk Based Capital to Risk-Weighted Assets | 14.33% | 15.50% |
Tier I Risk Based Capital Required for Capital Adequacy | $ 48,751 | $ 47,160 |
Tier I Risk Based Capital Required for Capital Adequacy to Risk-Weighted Assets | 6.00% | 6.00% |
Common Equity Tier I Risk Based Capital | $ 92,917 | $ 89,002 |
Common Equity Tier I Risk Based Capital to Risk-Weighted Assets | 11.44% | 11.32% |
Common Equity Tier I Risk Based Capital Required for Capital Adequacy | $ 36,563 | $ 35,370 |
Common Equity Tier I Risk Based Capital Required for Capital Adequacy to Risk-Weighted Assets | 4.50% | 4.50% |
Tier I Leverage Capital | $ 116,417 | $ 121,862 |
Tier I Leverage Capital to Average Assets | 9.72% | 10.29% |
Tier I Leverage Capital Required for Capital Adequacy | $ 47,930 | $ 47,368 |
Colony Bank [Member] | ||
Tier I Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Tier I Leverage Capital Required to Be Well Capitalized | $ 59,820 | $ 59,113 |
Tier I Leverage Capital Required to Be Well Capitalized to Average Assets | 5.00% | 5.00% |
Capital | $ 127,134 | $ 127,646 |
Capital to Risk-Weighted Assets | 15.67% | 16.26% |
Capital Required for Capital Adequacy | $ 64,915 | $ 62,796 |
Capital Required for Capital Adequacy to Risk-Weighted Assets | 8.00% | 8.00% |
Capital Required to be Well Capitalized | $ 81,144 | $ 78,495 |
Capital Requited to be Well Capitalized to Risk-Weighted Assets | 10.00% | 10.00% |
Tier I Risk Based Capital | $ 119,091 | $ 118,723 |
Tier I Risk Based Capital to Risk-Weighted Assets | 14.68% | 15.12% |
Tier I Risk Based Capital Required for Capital Adequacy | $ 48,686 | $ 47,097 |
Tier I Risk Based Capital Required for Capital Adequacy to Risk-Weighted Assets | 6.00% | 6.00% |
Tier I Risk Based Capital Required to be Well Capitalized | $ 64,915 | $ 62,796 |
Tier I Risk Based Capital Required to be Well Capitalized to Risk-Weighted Assets | 8.00% | 8.00% |
Common Equity Tier I Risk Based Capital | $ 119,091 | $ 118,723 |
Common Equity Tier I Risk Based Capital to Risk-Weighted Assets | 14.68% | 15.12% |
Common Equity Tier I Risk Based Capital Required for Capital Adequacy | $ 36,515 | $ 35,323 |
Common Equity Tier I Risk Based Capital Required for Capital Adequacy to Risk-Weighted Assets | 4.50% | 4.50% |
Common Equity Tier I Risk Based Capital Required to Be Well Capitalized | $ 52,743 | $ 51,022 |
Common Equity Tier I Risk Based Capital Required to Be Well Capitalized to Risk-Weighted Assets | 6.50% | 6.50% |
Tier I Leverage Capital | $ 119,091 | $ 118,723 |
Tier I Leverage Capital to Average Assets | 9.95% | 10.04% |
Tier I Leverage Capital Required for Capital Adequacy | $ 47,856 | $ 47,290 |
Note 13 - Earnings Per Share -
Note 13 - Earnings Per Share - Summary of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net Income Available to Common Stockholders | $ 2,433 | $ 1,761 | $ 4,339 | $ 3,417 |
Weighted Average Basic Shares Outstanding (in shares) | 8,439,258 | 8,439,258 | 8,439,258 | 8,439,258 |
Restricted Stock (in shares) | ||||
Stock Warrants (in shares) | 191,000 | 59,000 | 193,000 | 52,000 |
Weighted-Average Number of Shares Outstanding for Diluted Earnings Per Common Share (in shares) | 8,630,207 | 8,497,618 | 8,632,465 | 8,490,540 |
Basic (in dollars per share) | $ 0.29 | $ 0.21 | $ 0.51 | $ 0.40 |
Diluted (in dollars per share) | $ 0.28 | $ 0.21 | $ 0.50 | $ 0.40 |
Note 14 - Accumulated Other C71
Note 14 - Accumulated Other Comprehensive Income (Loss) - Changes for Unrealized Gains and Losses Securities Available for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Beginning Balance | $ (5,022) | $ (4,434) | $ (4,434) | ||
Other Comprehensive Income Before Reclassification | 1,047 | (334) | |||
Amounts Reclassified from Accumulated Other Comprehensive Income | (254) | ||||
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | $ 909 | $ 1,161 | 1,047 | $ 4,592 | (588) |
Ending Balance | $ (3,975) | $ (3,975) | $ (5,022) |