Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 06, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | FIRST US BANCSHARES INC | |
Entity Central Index Key | 0000717806 | |
Trading Symbol | fusb | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 6,306,161 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Interim Condensed Consolidated
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 10,895 | $ 9,796 |
Interest-bearing deposits in banks | 33,964 | 39,803 |
Total cash and cash equivalents | 44,859 | 49,599 |
Federal funds sold | 15,081 | 8,354 |
Investment securities available-for-sale, at fair value | 117,961 | 132,487 |
Investment securities held-to-maturity, at amortized cost | 18,688 | 21,462 |
Federal Home Loan Bank stock, at cost | 713 | 703 |
Loans, net of allowance for loan and lease losses of $5,087 and $5,055, respectively | 511,515 | 514,867 |
Premises and equipment, net | 29,491 | 27,643 |
Cash surrender value of bank-owned life insurance | 15,391 | 15,237 |
Accrued interest receivable | 2,476 | 2,816 |
Goodwill and core deposit intangible, net | 9,056 | 9,312 |
Other real estate owned | 1,258 | 1,505 |
Other assets | 10,682 | 7,954 |
Total assets | 777,171 | 791,939 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Deposits | 682,806 | 704,725 |
Accrued interest expense | 526 | 424 |
Other liabilities | 10,018 | 6,826 |
Short-term borrowings | 73 | 527 |
Total liabilities | 693,423 | 712,502 |
Shareholders’ equity: | ||
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,567,784 and 7,562,264 shares issued, respectively; 6,306,161 and 6,298,062 shares outstanding, respectively | 75 | 75 |
Surplus | 13,646 | 13,496 |
Accumulated other comprehensive loss, net of tax | (338) | (2,377) |
Retained earnings | 90,737 | 88,668 |
Less treasury stock: 1,261,623 and 1,264,202 shares at cost, respectively | (20,372) | (20,414) |
Noncontrolling interest | (11) | |
Total shareholders’ equity | 83,748 | 79,437 |
Total liabilities and shareholders’ equity | $ 777,171 | $ 791,939 |
Interim Condensed Consolidate_2
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans, allowance for loan losses | $ 5,087 | $ 5,055 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 7,567,784 | 7,562,264 |
Common stock, shares outstanding (in shares) | 6,306,161 | 6,298,062 |
Treasury stock, shares (in shares) | 1,261,623 | 1,264,202 |
Interim Condensed Consolidate_3
Interim Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest income: | ||||
Interest and fees on loans | $ 9,833 | $ 7,331 | $ 19,506 | $ 14,420 |
Interest on investment securities | 1,090 | 1,059 | 2,230 | 2,089 |
Total interest income | 10,923 | 8,390 | 21,736 | 16,509 |
Interest expense: | ||||
Interest on deposits | 1,690 | 798 | 3,330 | 1,499 |
Interest on borrowings | 90 | 194 | ||
Total interest expense | 1,690 | 888 | 3,330 | 1,693 |
Net interest income | 9,233 | 7,502 | 18,406 | 14,816 |
Provision for loan and lease losses | 715 | 702 | 1,115 | 1,360 |
Net interest income after provision for loan and lease losses | 8,518 | 6,800 | 17,291 | 13,456 |
Non-interest income: | ||||
Credit insurance income | 108 | 100 | 251 | 318 |
Other income, net | 554 | 444 | 1,113 | 782 |
Total non-interest income | 1,291 | 1,132 | 2,556 | 2,272 |
Non-interest expense: | ||||
Salaries and employee benefits | 5,195 | 4,533 | 10,183 | 9,100 |
Net occupancy and equipment | 1,046 | 873 | 2,135 | 1,762 |
Computer services | 333 | 317 | 684 | 609 |
Fees for professional services | 321 | 266 | 563 | 539 |
Other expense | 1,609 | 1,503 | 3,392 | 2,783 |
Total non-interest expense | 8,504 | 7,492 | 16,957 | 14,793 |
Income before income taxes | 1,305 | 440 | 2,890 | 935 |
Provision for income taxes | 300 | 81 | 651 | 162 |
Net income | $ 1,005 | $ 359 | $ 2,239 | $ 773 |
Basic net income per share (in dollars per share) | $ 0.16 | $ 0.06 | $ 0.35 | $ 0.13 |
Diluted net income per share (in dollars per share) | 0.15 | 0.06 | 0.33 | 0.12 |
Dividends per share (in dollars per share) | $ 0.02 | $ 0.02 | $ 0.04 | $ 0.04 |
Service [Member] | ||||
Non-interest income: | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 443 | $ 444 | $ 903 | $ 911 |
Mortgage Banking [Member] | ||||
Non-interest income: | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 186 | $ 144 | $ 289 | $ 261 |
Interim Condensed Consolidate_4
Interim Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 6,081,744 | ||||||
Balance at Dec. 31, 2017 | $ 73 | $ 10,755 | $ (868) | $ 86,673 | $ (20,414) | $ (11) | $ 76,208 |
Net income (loss) | 773 | 773 | |||||
Net change in fair value of securities available-for-sale, net of tax | (1,719) | (1,719) | |||||
Net change in fair value of derivative instruments, net of tax | 400 | 400 | |||||
Dividends declared: $.02 per share | (243) | (243) | |||||
Impact of stock-based compensation plans, net (in shares) | 10,520 | ||||||
Impact of stock-based compensation plans, net | 215 | 215 | |||||
Balance (in shares) at Jun. 30, 2018 | 6,092,264 | ||||||
Balance at Jun. 30, 2018 | $ 73 | 10,970 | (2,187) | 87,203 | (20,414) | (11) | 75,634 |
Balance (in shares) at Mar. 31, 2018 | 6,087,264 | ||||||
Balance at Mar. 31, 2018 | $ 73 | 10,867 | (1,955) | 86,965 | (20,414) | (11) | 75,525 |
Net income (loss) | 359 | 359 | |||||
Net change in fair value of securities available-for-sale, net of tax | (298) | (298) | |||||
Net change in fair value of derivative instruments, net of tax | 66 | 66 | |||||
Dividends declared: $.02 per share | (121) | (121) | |||||
Impact of stock-based compensation plans, net (in shares) | 5,000 | ||||||
Impact of stock-based compensation plans, net | 103 | 103 | |||||
Balance (in shares) at Jun. 30, 2018 | 6,092,264 | ||||||
Balance at Jun. 30, 2018 | $ 73 | 10,970 | (2,187) | 87,203 | (20,414) | (11) | 75,634 |
Balance (in shares) at Dec. 31, 2018 | 6,298,062 | ||||||
Balance at Dec. 31, 2018 | $ 75 | 13,496 | (2,377) | 88,668 | (20,414) | (11) | 79,437 |
Net income (loss) | 2,239 | 2,239 | |||||
Net change in fair value of securities available-for-sale, net of tax | 2,039 | 2,039 | |||||
Dividends declared: $.02 per share | (253) | (253) | |||||
Impact of stock-based compensation plans, net (in shares) | 5,520 | ||||||
Impact of stock-based compensation plans, net | 192 | 192 | |||||
Reissuance of treasury stock as compensation (in shares) | 2,579 | ||||||
Reissuance of treasury stock as compensation | (42) | 42 | |||||
Discontinuation of partnership consolidation | 83 | 11 | 94 | ||||
Balance (in shares) at Jun. 30, 2019 | 6,306,161 | ||||||
Balance at Jun. 30, 2019 | $ 75 | 13,646 | (338) | 90,737 | (20,372) | 83,748 | |
Balance (in shares) at Mar. 31, 2019 | 6,303,582 | ||||||
Balance at Mar. 31, 2019 | $ 75 | 13,589 | (1,536) | 89,859 | (20,414) | 81,573 | |
Net income (loss) | 1,005 | 1,005 | |||||
Net change in fair value of securities available-for-sale, net of tax | 1,198 | 1,198 | |||||
Dividends declared: $.02 per share | (127) | (127) | |||||
Impact of stock-based compensation plans, net | 99 | 99 | |||||
Reissuance of treasury stock as compensation (in shares) | 2,579 | ||||||
Reissuance of treasury stock as compensation | (42) | 42 | |||||
Balance (in shares) at Jun. 30, 2019 | 6,306,161 | ||||||
Balance at Jun. 30, 2019 | $ 75 | $ 13,646 | $ (338) | $ 90,737 | $ (20,372) | $ 83,748 |
Interim Condensed Consolidate_5
Interim Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Retained Earnings [Member] | ||||
Dividends per share (in dollars per share) | $ 0.02 | $ 0.02 | $ 0.02 | $ 0.02 |
Dividends per share (in dollars per share) | $ 0.02 | $ 0.04 | $ 0.04 |
Interim Condensed Consolidate_6
Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income | $ 1,005 | $ 359 | $ 2,239 | $ 773 |
Other comprehensive income (loss): | ||||
Unrealized holding gains (losses) on securities available-for-sale arising during period, net of tax expense (benefit) of $402, $(74), $686 and $(547), respectively | 1,205 | (222) | 2,056 | (1,640) |
Reclassification adjustment for net gains on securities available-for-sale realized in net income, net of tax of $2, $26, $5 and $26, respectively | (7) | (76) | (17) | (79) |
Unrealized holding gains arising during the period on effective cash flow hedge derivatives, net of tax expense of $0, $22, $0 and $134, respectively | 66 | 400 | ||
Other comprehensive income (loss) | 1,198 | (232) | 2,039 | (1,319) |
Total comprehensive income (loss) | $ 2,203 | $ 127 | $ 4,278 | $ (546) |
Interim Condensed Consolidate_7
Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Unrealized holding gains (losses) on securities available-for-sale arising during period, tax expense (benefit) | $ 402 | $ (74) | $ 686 | $ (574) |
Reclassification adjustment for net gains on securities available-for-sale realized in net income, tax expense (benefit) | 2 | 26 | 5 | 26 |
Unrealized holding gains arising during the period on effective cash flow hedge derivatives, tax expense (benefit) | $ 0 | $ 22 | $ 0 | $ 134 |
Interim Condensed Consolidate_8
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 2,239 | $ 773 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Depreciation and amortization | 796 | 704 |
Provision for loan and lease losses | 1,115 | 1,360 |
Deferred income tax provision | 624 | 154 |
Net gain on sale and prepayment of investment securities | (22) | (105) |
Stock-based compensation expense | 192 | 215 |
Net amortization of securities | (306) | (424) |
Amortization of intangible assets | 256 | |
Net loss on premises and equipment and other real estate | 245 | 293 |
Changes in assets and liabilities: | ||
Decrease in accrued interest receivable | 340 | 98 |
Increase in other assets | (4,079) | (77) |
Increase in accrued interest expense | 102 | 63 |
Increase (decrease) in other liabilities | 3,192 | (155) |
Net cash provided by operating activities | 5,306 | 3,747 |
Cash flows from investing activities: | ||
Net increase in federal funds sold | (6,727) | |
Purchases of investment securities, available-for-sale | (2,784) | (15,224) |
Proceeds from sales of investment securities, available-for-sale | 4,221 | |
Proceeds from maturities and prepayments of investment securities, available-for-sale | 19,787 | 20,899 |
Proceeds from maturities and prepayments of investment securities, held-to-maturity | 2,733 | 1,903 |
Net (increase) decrease in Federal Home Loan Bank stock | (10) | 196 |
Proceeds from the sale of premises and equipment and other real estate | 768 | 1,915 |
Net (increase) decrease in loans | 1,455 | (11,146) |
Purchases of premises and equipment | (2,642) | (715) |
Net cash provided by investing activities | 12,580 | 2,049 |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | (21,919) | 14,349 |
Net decrease in short-term borrowings | (454) | (5,228) |
Dividends paid | (253) | (243) |
Net cash provided by (used in) financing activities | (22,626) | 8,878 |
Net increase (decrease) in cash and cash equivalents | (4,740) | 14,674 |
Cash and cash equivalents, beginning of period | 49,599 | 27,124 |
Cash and cash equivalents, end of period | 44,859 | 41,798 |
Supplemental disclosures: | ||
Interest | 3,228 | 1,630 |
Income taxes | 151 | 137 |
Non-cash transactions: | ||
Assets acquired in settlement of loans | 782 | 378 |
Reissuance of treasury stock as compensation | $ 42 |
Note 1 - General
Note 1 - General | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. GENERAL The accompanying unaudited interim condensed consolidated financial statements include the accounts of First US Bancshares, Inc. (“Bancshares”) and its subsidiaries (collectively, the “Company”). Bancshares is the parent holding company of First US Bank (the “Bank”). The Bank operates a finance company subsidiary, Acceptance Loan Company, Inc. (“ALC”). Management has determined that the Bank and ALC comprise Bancshares’ two The unaudited interim condensed consolidated financial statements, in the opinion of management, reflect all adjustments necessary for a fair presentation of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. The results of operations for any interim period are not December 31, 2019. not 10 December 31, 2018. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. BASIS OF PRESENTATION Summary of Significant Accounting Policies Certain significant accounting policies followed by the Company are set forth in Note 2, 10 December 31, 2018. Net Income Per Share Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding (basic shares). Included in basic shares are certain shares that have been accrued as of the balance sheet date as deferred compensation for members of Bancshares’ Board of Directors. Diluted net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period (dilutive shares). The dilutive shares consist of nonqualified stock option grants issued to employees and members of Bancshares’ Board of Directors pursuant to Bancshares’ 2013 “2013 Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Basic shares 6,423,642 6,195,801 6,420,653 6,192,117 Dilutive shares 427,282 378,701 427,282 378,701 Diluted shares 6,850,924 6,574,502 6,847,935 6,570,818 Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (Dollars in Thousands, Except Per Share Data) Net income $ 1,005 $ 359 $ 2,239 $ 773 Basic net income per share $ 0.16 $ 0.06 $ 0.35 $ 0.13 Diluted net income per share $ 0.15 $ 0.06 $ 0.33 $ 0.12 Comprehensive Income Comprehensive income consists of net income, as well as unrealized holding gains and losses that arise during the period associated with the Company’s available-for-sale securities portfolio and the effective portion of cash flow hedge derivatives. In the calculation of comprehensive income, reclassification adjustments are made for gains or losses realized in the statement of operations associated with the sale of available-for-sale securities, settlement of derivative contracts or changes in the fair value of cash flow derivatives. Accounting Policies Recently Adopted Accounting Standards Update (“ASU”) 2017 12 , “Targeted Improvements to Accounting for Hedging Activities.” Accounting Standards Codification (“ASC”) Topic 815, Derivatives and Hedging 2017 12 January 1, 2019. 2017 12 not ASU 2016 - 02, “Leases (Topic 842 ).” February 2016, 2016 02 2016 02 12 2016 02 January 1, 2019. 13, 2016 02. June 30, 2019, $3.8 Pending Accounting Pronouncements ASU 2018 15 , “Intangibles-Goodwill and Other – Internal-Use Software (Subtopic 350 40 ): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force).” August 2018, 2018 15 2018 15 2018 15 350 40, – 2018 15 1 2 not 3 not 2018 15 2018 15 December 15, 2019. not not 2018 15 ASU 2018 13 , “Fair Value Measurement (Topic 820 ): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement.” August 2018, 820 1 1 2 2 3 3 1 2 1 3 2 3 2018 13 December 15, 2019. . ASU 2017 04, “Intangibles-Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment.” January 2017, 2017 04 2 2 2, 2017 04, 2017 04, 1 2 not 2017 04 zero 2 2017 04 December 15, 2019. . ASU 2016 - 13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments June 2016, 2016 13 not 2016 13 2016 13 December 15, 2019, first July 2019, 2016 13 three 30 2016 13 one first one not 2016 13. Revenue On January 1, 2018, 2014 09, Revenue from Contracts with Customers 606. 606 no no December 31, 2018. January 1, 2018 606, The majority of the Company’s revenue is generated through interest earned on financial instruments, including loans and investment securities, which falls outside the scope of ASC Topic 606. 606. All of the Company’s revenue that is subject to ASC Topic 606 not 606. 606 six June 30, 2019 2018 $1.6 three June 30, 2019 2018 $0.8 606 no June 30, 2019. |
Note 3 - Acquisition Activity
Note 3 - Acquisition Activity | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3. ACQUISITION ACTIVITY On August 31, 2018, $166.5 $156.8 $140.0 $7.4 The acquisition of TPB was accounted for using the purchase method of accounting in accordance with ASC Topic 805, Business Combinations one No first second 2019. In accordance with the transaction agreement, the Company acquired 100% $23.4 December 31, 2017 1.62, $0.4 90% $20.7 10% 204,355 $1.4 A summary, at fair value, of the assets acquired and liabilities assumed in the TPB transaction, as of the acquisition date, is as follows: FIRST US BANCSHARES, INC. AND SUBSIDIARIES ASSETS ACQUIRED AND LIABILITIES ASSUMED FROM THE PEOPLES BANK AUGUST 31, 2018 (Dollars in Thousands) Acquired from TPB Fair Value Adjustments Fair Value as of August 31, 2018 Assets Acquired: Cash and cash equivalents $ 3,085 $ — $ 3,085 Investment securities, available-for-sale 5,977 — 5,977 Federal Home Loan Bank stock, at cost 565 — 565 Loans 156,772 (2,195 ) 154,577 Allowance for loan losses (1,702 ) 1,702 — Net loans 155,070 (493 ) 154,577 Premises and equipment, net 1,198 17 1,215 Other real estate owned 85 — 85 Other assets 551 (328 ) 223 Core deposit intangible — 2,048 2,048 Total assets acquired $ 166,531 $ 1,244 $ 167,775 Liabilities Assumed: Deposits 140,033 342 140,375 Short-term borrowings 10,000 — 10,000 Other liabilities 437 — 437 Total liabilities assumed 150,470 342 150,812 Shareholders’ Equity Assumed: Common stock 1,027 (1,027 ) — Surplus 5,280 (5,280 ) — Accumulated other comprehensive income, net of tax 17 (17 ) — Retained earnings 9,737 (9,737 ) — Total shareholders’ equity assumed 16,061 (16,061 ) — Total liabilities and shareholders’ equity assumed $ 166,531 $ (15,719 ) $ 150,812 Net assets acquired $ 16,963 Purchase price 24,398 Goodwill $ 7,435 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above. Cash and cash equivalents Investment securities Federal Home Loan Bank stock, at cost not no Loans not August 31, 2018 Acquired from TPB Fair Value Adjustments Fair Value as of August 31, 2018 (Dollars in Thousands) Purchased performing loans $ 153,862 $ (2,116 ) $ 151,746 Purchased credit impaired loans 2,910 (79 ) 2,831 Total purchased loans $ 156,772 $ (2,195 ) $ 154,577 Allowance for loan losses Premises and equipment third Other real estate owned Other assets Core deposit intangible Deposits Short-term borrowings Other liabilities |
Note 4 - Investment Securities
Note 4 - Investment Securities | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. INVESTMENT SECURITIES Details of investment securities available-for-sale and held-to-maturity as of June 30, 2019 December 31, 2018 Available-for-Sale June 30 , 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Residential $ 64,271 $ 330 $ (334 ) $ 64,267 Commercial 49,306 46 (603 ) 48,749 Obligations of states and political subdivisions 4,754 111 — 4,865 U.S. Treasury securities 79 1 — 80 Total $ 118,410 $ 488 $ (937 ) $ 117,961 Held-to-Maturity June 30 , 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Commercial $ 10,483 $ — $ (86 ) $ 10,397 Obligations of U.S. government-sponsored agencies 6,548 — (40 ) 6,508 Obligations of states and political subdivisions 1,657 13 (1 ) 1,669 Total $ 18,688 $ 13 $ (127 ) $ 18,574 Available-for-Sale December 31, 2018 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Residential $ 73,859 $ 113 $ (1,517 ) $ 72,455 Commercial 56,101 10 (1,822 ) 54,289 Obligations of states and political subdivisions 5,617 51 (4 ) 5,664 U.S. Treasury securities 79 — — 79 Total $ 135,656 $ 174 $ (3,343 ) $ 132,487 Held-to-Maturity December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Dollars in Thousands) Mortgage-backed securities: Commercial $ 11,716 $ — $ (349 ) $ 11,367 Obligations of U.S. government-sponsored agencies 8,026 — (244 ) 7,782 Obligations of states and political subdivisions 1,720 — (17 ) 1,703 Total $ 21,462 $ — $ (610 ) $ 20,852 The scheduled maturities of investment securities available-for-sale and held-to-maturity as of June 30 , 2019 Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (Dollars in Thousands) Maturing within one year $ 259 $ 261 $ 122 $ 122 Maturing after one to five years 34,821 34,766 3,397 3,400 Maturing after five to ten years 47,803 47,686 6,176 6,113 Maturing after ten years 35,527 35,248 8,993 8,939 Total $ 118,410 $ 117,961 $ 18,688 $ 18,574 For purposes of the maturity table, mortgage-backed securities, which are not The following table reflects gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of June 30, 2019 December 31, 2018. Available-for-Sale June 30 , 2019 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Residential $ 180 $ — $ 40,760 $ (334 ) Commercial 2 — 41,114 (603 ) U.S. Treasury securities 80 — — — Total $ 262 $ — $ 81,874 $ (937 ) Held-to-Maturity June 30 , 2019 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Commercial $ — $ — $ 10,397 $ (86 ) Obligations of U.S. government-sponsored agencies — — 6,386 (40 ) Obligations of states and political subdivisions — — 508 (1 ) Total $ — $ — $ 17,291 $ (127 ) Available-for-Sale December 31, 2018 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Residential $ 9,417 $ (87 ) $ 53,507 $ (1,430 ) Commercial 461 (3 ) 53,430 (1,819 ) Obligations of states and political subdivisions 879 (2 ) 420 (2 ) U.S. Treasury securities 79 — — — Total $ 10,836 $ (92 ) $ 107,357 $ (3,251 ) Held-to-Maturity December 31, 2018 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Commercial $ — $ — $ 11,367 $ (349 ) Obligations of U.S. government-sponsored agencies — — 7,782 (244 ) Obligations of states and political subdivisions 770 — 933 (17 ) Total $ 770 $ — $ 20,082 $ (610 ) Management evaluates securities for other-than-temporary impairment no not As of June 30, 2019, 137 12 5 12 December 31, 2018, 153 12 21 12 June 30, 2019 December 31, 2018, not not June 30, 2019 December 31, 2018. Investment securities with a carrying value of $57.3 $46.7 June 30, 2019 December 31, 2018, |
Note 5 - Loans and Allowance fo
Note 5 - Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. LOANS AND ALLOWANCE FOR LOAN LOSSES Portfolio Segments The Company has divided the loan portfolio into nine Construction, land development and other land loans Secured by 1 4 one four may first second Secured by multi-family residential properties Secured by non-farm, non-residential properties Other real estate loans Commercial and industrial loans and leases may Consumer loans Branch retail Indirect sales As of June 30, 2019 December 31, 2018, June 30 , 201 Bank ALC Total (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ 27,521 $ — $ 27,521 Secured by 1-4 family residential properties 96,805 6,549 103,354 Secured by multi-family residential properties 28,033 — 28,033 Secured by non-farm, non-residential properties 158,748 — 158,748 Other 880 — 880 Commercial and industrial loans (1) 91,489 — 91,489 Consumer loans: Consumer 7,241 29,919 37,160 Branch retail — 29,609 29,609 Indirect sales — 45,466 45,466 Total loans 410,717 111,543 522,260 Less: Unearned interest, fees and deferred cost 411 5,247 5,658 Allowance for loan losses 2,798 2,289 5,087 Net loans $ 407,508 $ 104,007 $ 511,515 December 31, 201 Bank ALC Total (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ 41,340 $ — $ 41,340 Secured by 1-4 family residential properties 102,971 7,785 110,756 Secured by multi-family residential properties 23,009 — 23,009 Secured by non-farm, non-residential properties 156,162 — 156,162 Other 1,308 — 1,308 Commercial and industrial loans (1) 85,779 — 85,779 Consumer loans: Consumer 6,927 31,656 38,583 Branch retail — 28,324 28,324 Indirect sales — 40,609 40,609 Total loans 417,496 108,374 525,870 Less: Unearned interest, fees and deferred cost 331 5,617 5,948 Allowance for loan losses 2,735 2,320 5,055 Net loans $ 414,430 $ 100,437 $ 514,867 ( 1 The Company makes commercial, real estate and installment loans to its customers. Although the Company has a diversified loan portfolio, 61.0% 63.2% June 30, 2019 December 31, 2018, Loans with a carrying value of $36.9 $27.0 June 30, 2019 December 31, 2018, Related Party Loans In the ordinary course of business, the Bank makes loans to certain officers and directors of the Company, including companies with which they are associated. These loans are made on the same terms as those prevailing for comparable transactions with unrelated parties. Management believes that such loans do not June 30, 2019 December 31, 2018 $0.9 $0.8 six June 30, 2019, $0.1 $5 December 31, 2018, $0.5 $0.2 Acquired Loans The Company acquired loans through the TPB acquisition completed on August 31, 2018. not Loans purchased with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not may 310 30, Accounting for Purchased Loans with Deteriorated Credit Quality not 310 30 $2.9 $2.8 The carrying amount of PCI loans, which is included within loans on the balance sheet, is set forth in the table below as of June 30, 2019 December 31, 2018: June 30, 2019 December 31, 2018 (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ — $ 75 Secured by 1-4 family residential properties 236 492 Outstanding balance 236 567 Fair value adjustment (66 ) (70 ) Carrying amount, net of fair value adjustment $ 170 $ 497 During both the six June 30, 2019 December 31, 2018, not not Allowance for Loan Losses The following tables present changes in the allowance for loan losses during the six June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018: Bank Six Months Ended June 30, 2019 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 240 $ 322 $ 128 $ 831 $ 1 $ 1,138 $ 75 $ — $ — $ 2,735 Charge-offs — (47 ) — — — — (15 ) — — (62 ) Recoveries — 9 — — — 3 23 — — 35 Provision (50 ) 77 38 (22 ) — 63 (16 ) — — 90 Ending balance $ 190 $ 361 $ 166 $ 809 $ 1 $ 1,204 $ 67 $ — $ — $ 2,798 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ 95 $ 16 $ — $ — $ — $ 65 $ 12 $ — $ — $ 188 Collectively evaluated for impairment 95 345 166 809 1 1,139 55 — — 2,610 Loans acquired with deteriorated credit quality — — — — — — — — — — Total allowance for loan losses $ 190 $ 361 $ 166 $ 809 $ 1 $ 1,204 $ 67 $ — $ — $ 2,798 Ending balance of loans receivable: Individually evaluated for impairment $ 421 $ 947 $ — $ 504 $ — $ 65 $ 35 $ — $ — $ 1,972 Collectively evaluated for impairment 27,100 95,688 28,033 158,244 880 91,424 7,206 — — 408,575 Loans acquired with deteriorated credit quality — 170 — — — — — — — 170 Total loans receivable $ 27,521 $ 96,805 $ 28,033 $ 158,748 $ 880 $ 91,489 $ 7,241 $ — $ — $ 410,717 ALC Six Months Ended June 30, 2019 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ — $ 24 $ — $ — $ — $ — $ 1,724 $ 427 $ 145 $ 2,320 Charge-offs — (30 ) — — — — (1,075 ) (201 ) (128 ) (1,434 ) Recoveries — 6 — — — — 311 59 2 378 Provision — 28 — — — — 662 151 184 1,025 Ending balance $ — $ 28 $ — $ — $ — $ — $ 1,622 $ 436 $ 203 $ 2,289 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment — 28 — — — — 1,622 436 203 2,289 Total allowance for loan losses $ — $ 28 $ — $ — $ — $ — $ 1,622 $ 436 $ 203 $ 2,289 Ending balance of loans receivable: Individually evaluated for impairment $ — $ 194 $ — $ — $ — $ — $ — $ — $ — $ 194 Collectively evaluated for impairment — 6,355 — — — — 29,919 29,609 45,466 111,349 Total loans receivable $ — $ 6,549 $ — $ — $ — $ — $ 29,919 $ 29,609 $ 45,466 $ 111,543 Bank and ALC Six Months Ended June 30, 2019 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 240 $ 346 $ 128 $ 831 $ 1 $ 1,138 $ 1,799 $ 427 $ 145 $ 5,055 Charge-offs — (77 ) — — — — (1,090 ) (201 ) (128 ) (1,496 ) Recoveries — 15 — — — 3 334 59 2 413 Provision (50 ) 105 38 (22 ) — 63 646 151 184 1,115 Ending balance $ 190 $ 389 $ 166 $ 809 $ 1 $ 1,204 $ 1,689 $ 436 $ 203 $ 5,087 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ 95 $ 16 $ — $ — $ — $ 65 $ 12 $ — $ — $ 188 Collectively evaluated for impairment 95 373 166 809 1 1,139 1,677 436 203 4,899 Loans acquired with deteriorated credit quality — — — — — — — — — — Total allowance for loan losses $ 190 $ 389 $ 166 $ 809 $ 1 $ 1,204 $ 1,689 $ 436 $ 203 $ 5,087 Ending balance of loans receivable: Individually evaluated for impairment $ 421 $ 1,141 $ — $ 504 $ — $ 65 $ 35 $ — $ — $ 2,166 Collectively evaluated for impairment 27,100 102,043 28,033 158,244 880 91,424 37,125 29,609 45,466 519,924 Loans acquired with deteriorated credit quality — 170 — — — — — — — 170 Total loans receivable $ 27,521 $ 103,354 $ 28,033 $ 158,748 $ 880 $ 91,489 $ 37,160 $ 29,609 $ 45,466 $ 522,260 Bank Year Ended December 31, 2018 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 203 $ 238 $ 116 $ 777 $ 2 $ 1,049 $ 62 $ — $ — $ 2,447 Charge-offs — (9 ) — — — (3 ) (4 ) — — (16 ) Recoveries — 51 — 4 — 11 23 — — 89 Provision 37 42 12 50 (1 ) 81 (6 ) — — 215 Ending balance $ 240 $ 322 $ 128 $ 831 $ 1 $ 1,138 $ 75 $ — $ — $ 2,735 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ 28 $ 50 $ — $ 1 $ — $ 67 $ 20 $ — $ — $ 166 Collectively evaluated for impairment 212 272 128 830 1 1,071 55 — — 2,569 Loans acquired with deteriorated credit quality — — — — — — — — — — Total allowance for loan losses $ 240 $ 322 $ 128 $ 831 $ 1 $ 1,138 $ 75 $ — $ — $ 2,735 Ending balance of loans receivable: Individually evaluated for impairment $ 153 $ 57 $ — $ 511 $ — $ 67 $ 43 $ — $ — $ 831 Collectively evaluated for impairment 41,114 102,490 23,009 155,651 1,308 85,712 6,884 — — 416,168 Loans acquired with deteriorated credit quality 73 424 — — — — — — — 497 Total loans receivable $ 41,340 $ 102,971 $ 23,009 $ 156,162 $ 1,308 $ 85,779 $ 6,927 $ — $ — $ 417,496 ALC Year Ended December 31, 2018 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ — $ 52 $ — $ — $ — $ — $ 1,653 $ 393 $ 229 $ 2,327 Charge-offs — (92 ) — — — — (2,478 ) (415 ) (116 ) (3,101 ) Recoveries — 23 — — — — 545 113 6 687 Provision — 41 — — — — 2,004 336 26 2,407 Ending balance $ — $ 24 $ — $ — $ — $ — $ 1,724 $ 427 $ 145 $ 2,320 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment — 24 — — — — 1,724 427 145 2,320 Total allowance for loan losses $ — $ 24 $ — $ — $ — $ — $ 1,724 $ 427 $ 145 $ 2,320 Ending balance of loans receivable: Individually evaluated for impairment $ — $ 211 $ — $ — $ — $ — $ — $ — $ — $ 211 Collectively evaluated for impairment — 7,574 — — — — 31,656 28,324 40,609 108,163 Total loans receivable $ — $ 7,785 $ — $ — $ — $ — $ 31,656 $ 28,324 $ 40,609 $ 108,374 Bank and ALC Year Ended December 31, 2018 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 203 $ 290 $ 116 $ 777 $ 2 $ 1,049 $ 1,715 $ 393 $ 229 $ 4,774 Charge-offs — (101 ) — — — (3 ) (2,482 ) (415 ) (116 ) (3,117 ) Recoveries — 74 — 4 — 11 568 113 6 776 Provision 37 83 12 50 (1 ) 81 1,998 336 26 2,622 Ending balance $ 240 $ 346 $ 128 $ 831 $ 1 $ 1,138 $ 1,799 $ 427 $ 145 $ 5,055 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ 28 $ 50 $ — $ 1 $ — $ 67 $ 20 $ — $ — $ 166 Collectively evaluated for impairment 212 296 128 830 1 1,071 1,779 427 145 4,889 Loans acquired with deteriorated credit quality — — — — — — — — — — Total allowance for loan losses $ 240 $ 346 $ 128 $ 831 $ 1 $ 1,138 $ 1,799 $ 427 $ 145 $ 5,055 Ending balance of loans receivable: Individually evaluated for impairment $ 153 $ 268 $ — $ 511 $ — $ 67 $ 43 $ — $ — $ 1,042 Collectively evaluated for impairment 41,114 110,064 23,009 155,651 1,308 85,712 38,540 28,324 40,609 524,331 Loans acquired with deteriorated credit quality 73 424 — — — — — — — 497 Total loans receivable $ 41,340 $ 110,756 $ 23,009 $ 156,162 $ 1,308 $ 85,779 $ 38,583 $ 28,324 $ 40,609 $ 525,870 Credit Quality Indicators The Bank utilizes a credit grading system that provides a uniform framework for establishing and monitoring credit risk in the loan portfolio. Under this system, each loan is graded based on pre-determined risk metrics and categorized into one nine . ● Pass (Risk Grades 1 5 ● Special Mention (Risk Grade 6 may not not not ● Substandard (Risk Grade 7 no not not ● Doubtful (Risk Grade 8 may may may may ● Loss (Risk Grade 9 not not no not may At ALC, because the loan portfolio is more uniform in nature, each loan is categorized into one two The tables below illustrate the carrying amount of loans by credit quality indicator as of June 30, 2019: Bank Pass 1-5 Special Mention 6 Substandard 7 Total (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 27,034 $ 340 $ 147 $ 27,521 Secured by 1-4 family residential properties 94,586 152 2,067 96,805 Secured by multi-family residential properties 28,033 — — 28,033 Secured by non-farm, non-residential properties 155,808 1,911 1,029 158,748 Other 880 — — 880 Commercial and industrial loans 89,418 1,925 146 91,489 Consumer loans 7,178 — 63 7,241 Total $ 402,937 $ 4,328 $ 3,452 $ 410,717 The above amounts include purchased credit impaired loans. As of June 30, 2019, $0.2 ALC Performing Nonperforming Total (Dollars in Thousands) Loans secured by real estate: Secured by 1-4 family residential properties $ 6,438 $ 111 $ 6,549 Consumer loans: Consumer 29,409 510 29,919 Branch retail 29,499 110 29,609 Indirect sales 45,360 106 45,466 Total $ 110,706 $ 837 $ 111,543 The tables below illustrate the carrying amount of loans by credit quality indicator as of December 31, 2018: Bank Pass 1-5 Special Mention 6 Substandard 7 Total (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 40,200 $ 914 $ 226 $ 41,340 Secured by 1-4 family residential properties 100,485 154 2,332 102,971 Secured by multi-family residential properties 23,009 — — 23,009 Secured by non-farm, non-residential properties 153,077 1,996 1,089 156,162 Other 1,308 — — 1,308 Commercial and industrial loans 83,261 1,977 541 85,779 Consumer loans 6,848 — 79 6,927 Total $ 408,188 $ 5,041 $ 4,267 $ 417,496 The above amounts include purchased credit impaired loans. As of December 31, 2018, $0.5 ALC Performing Nonperforming Total (Dollars in Thousands) Loans secured by real estate: Secured by 1-4 family residential properties $ 7,657 $ 128 $ 7,785 Consumer loans: Consumer 30,826 830 31,656 Branch retail 28,171 153 28,324 Indirect sales 40,491 118 40,609 Total $ 107,145 $ 1,229 $ 108,374 The following tables provide an aging analysis of past due loans by class as of June 30, 2019: Bank As of June 30 , 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ 27,521 $ 27,521 $ — Secured by 1-4 family residential properties 185 369 — 554 96,251 96,805 — Secured by multi-family residential properties — — — — 28,033 28,033 — Secured by non-farm, non-residential properties 470 — 10 480 158,268 158,748 — Other — — 10 10 870 880 — Commercial and industrial loans 116 — — 116 91,373 91,489 — Consumer loans 62 23 18 103 7,138 7,241 — Total $ 833 $ 392 $ 38 $ 1,263 $ 409,454 $ 410,717 $ — The above amounts include purchased credit impaired loans. As of June 30, 2019, $7 90 ALC As of June 30 , 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ — $ — $ — Secured by 1-4 family residential properties 65 56 111 232 6,317 6,549 — Secured by multi-family residential properties — — — — — — — Secured by non-farm, non-residential properties — — — — — — — Other — — — — — — — Commercial and industrial loans — — — — — — — Consumer loans: Consumer 369 272 510 1,151 28,768 29,919 — Branch retail 154 55 110 319 29,290 29,609 — Indirect sales 192 10 106 308 45,158 45,466 — Total $ 780 $ 393 $ 837 $ 2,010 $ 109,533 $ 111,543 $ — The following tables provide an aging analysis of past due loans by class as of December 31, 2018: Bank As of December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 415 $ 582 $ 74 $ 1,071 $ 40,269 $ 41,340 $ — Secured by 1-4 family residential properties 991 36 539 1,566 101,405 102,971 — Secured by multi-family residential properties — — — — 23,009 23,009 — Secured by non-farm, non-residential properties 458 13 — 471 155,691 156,162 — Other — — — — 1,308 1,308 — Commercial and industrial loans 2,608 30 384 3,022 82,757 85,779 — Consumer loans 80 — 4 84 6,843 6,927 — Total $ 4,552 $ 661 $ 1,001 $ 6,214 $ 411,282 $ 417,496 $ — The above amounts include purchased credit impaired loans. As of December 31, 2018, $0.3 90 ALC As of December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ — $ — $ — Secured by 1-4 family residential properties 60 65 128 253 7,532 7,785 — Secured by multi-family residential properties — — — — — — — Secured by non-farm, non-residential properties — — — — — — — Other — — — — — — — Commercial and industrial loans — — — — — — — Consumer loans: Consumer 563 354 830 1,747 29,909 31,656 — Branch retail 164 98 153 415 27,909 28,324 Indirect sales 184 79 118 381 40,228 40,609 — Total $ 971 $ 596 $ 1,229 $ 2,796 $ 105,578 $ 108,374 $ — The following table provides an analysis of non-accruing loans by class as of June 30, 2019 December 31, 2018: Loans on Non-Accrual Status June 30 , 2019 December 31, 2018 (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ 73 Secured by 1-4 family residential properties 632 1,097 Secured by multi-family residential properties — — Secured by non-farm, non-residential properties 20 14 Other 10 — Commercial and industrial loans 33 424 Consumer loans: Consumer 568 879 Branch retail 110 153 Indirect sales 106 119 Total loans $ 1,479 $ 2,759 As of June 30, 2019 December 31, 2018, d $0.2 $0.5 Impaired Loans 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 related loan agreement. If a loan is impaired, a specific valuation allowance is allocated, if necessary, so that the loan is reported at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the liquidation of the collateral at the Bank. All loans of $0.5 seven may may $50 90 June 30, 2019 December 31, 2018, e $0.2 no As of June 30, 2019, June 30, 2019 Carrying Amount Unpaid Principal Balance Related Allowances (Dollars in Thousands) Impaired loans with no related allowance recorded Loans secured by real estate Construction, land development and other land loans $ — $ — $ — Secured by 1-4 family residential properties 1,289 1,289 — Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 504 504 — Commercial and industrial — — — Consumer — — — Total loans with no related allowance recorded $ 1,793 $ 1,793 $ — Impaired loans with an allowance recorded Loans secured by real estate Construction, land development and other land loans $ 421 $ 421 $ 95 Secured by 1-4 family residential properties 22 22 16 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties — — — Commercial and industrial 65 65 65 Consumer 35 35 12 Total loans with an allowance recorded $ 543 $ 543 $ 188 Total impaired loans Loans secured by real estate Construction, land development and other land loans $ 421 $ 421 $ 95 Secured by 1-4 family residential properties 1,311 1,311 16 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 504 504 — Commercial and industrial 65 65 65 Consumer 35 35 12 Total impaired loans $ 2,336 $ 2,336 $ 188 The above amounts include purchased credit impaired loans. As of June 30, 2019, $0.2 As of December 31, 2018, December 31, 2018 Carrying Amount Unpaid Principal Balance Related Allowances (Dollars in Thousands) Impaired loans with no related allowance recorded Loans secured by real estate Construction, land development and other land loans $ 73 $ 73 $ — Secured by 1-4 family residential properties 635 635 — Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties — — — Commercial and industrial — — — Consumer — — — Total loans with no related allowance recorded $ 708 $ 708 $ — Impaired loans with an allowance recorded Loans secured by real estate Construction, land development and other land loans $ 153 $ 153 $ 28 Secured by 1-4 family residential properties 57 57 50 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 511 511 1 Commercial and industrial 67 67 67 Consumer 43 43 20 Total loans with an allowance recorded $ 831 $ 831 $ 166 Total impaired loans Loans secured by real estate Construction, land development and other land loans $ 226 $ 226 $ 28 Secured by 1-4 family residential properties 692 692 50 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 511 511 1 Commercial and industrial 67 67 67 Consumer 43 43 20 Total impaired loans $ 1,539 $ 1,539 $ 166 The above amounts include purchased credit impaired loans. As of December 31, 2018, $0.5 The average net investment in impaired loans and interest income recognized and received on impaired loans during the six June 30, 2019 December 31, 2018 Six Months Ended June 30 , 2019 Average Recorded Investment Interest Income Recognized Interest Income Received (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ 181 $ 7 $ 6 Secured by 1-4 family residential properties 1,062 31 28 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 718 19 18 Other — — — Commercial and industrial 66 4 3 Consumer 40 1 1 Total $ 2,067 $ 62 $ 56 Year Ended December 31, 2018 Average Recorded Investment Interest Income Recognized Interest Income Received (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ 70 $ 8 $ 8 Secured by 1-4 family residential properties 794 16 16 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 523 34 35 Other 1 — — Commercial and industrial 57 4 5 Consumer 15 3 3 Total $ 1,460 $ 65 $ 67 Loans on which the accrual of interest has been discontinued amounted to $1.5 $2.8 June 30, 2019 December 31, 2018, n $10 $44 June 30, 2019 December 31, 2018, six June 30, 2019 December 31, 2018 as $8 $27 Troubled Debt Restructurings Troubled debt restructurings include loans with respect to which concessions have been granted to borrowers that generally would not not may no six June 30, 2019 December 31, 2018. may six not June 30, 2019 December 31, 2018, $22 $65 six June 30, 2019 December 31, 2018, no The following table provides, as of June 30, 2019 December 31, 2018, June 30 , 2019 December 31, 2018 Number of Loans Pre- Modification Outstanding Principal Balance Post- Modification Principal Balance Number of Loans Pre- Modification Outstanding Principal Balance Post- Modification Principal Balance (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans 1 $ 107 $ 69 1 $ 107 $ 73 Secured by 1-4 family residential properties 3 318 64 3 318 118 Secured by non-farm, non-residential properties — — — 1 53 34 Commercial loans 2 116 67 2 116 72 Total 6 $ 541 $ 200 7 $ 594 $ 297 As of June 30, 2019 December 31, 2018, no Restructured loan modifications primarily included maturity date extensions and payment schedule modifications. There were no no All loans with a principal balance of $0.5 $2 June 30, 2019 December 31, 2018. |
Note 6 - Other Real Estate Owne
Note 6 - Other Real Estate Owned and Repossessions | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | 6. OTHER REAL ESTATE OWNED AND REPOSSESSIONS Other Real Estate Owned Other real estate and certain other assets acquired in foreclosure are reported at the net realizable value of the property, less estimated costs to sell. The following tables summarize foreclosed property activity as of the six June 30, 2019 2018: June 30 , 2019 Bank ALC Total (Dollars in Thousands) Beginning balance $ 1,401 $ 104 $ 1,505 Additions (1) 224 38 262 Sales proceeds (404 ) (79 ) (483 ) Gross gains 37 2 39 Gross losses — (27 ) (27 ) Net gains (losses) 37 (25 ) 12 Impairment — (38 ) (38 ) Ending balance $ 1,258 $ — $ 1,258 June 30 , 2018 Bank ALC Total (Dollars in Thousands) Beginning balance $ 3,527 $ 265 $ 3,792 Additions (1) 106 25 131 Sales proceeds (1,598 ) (43 ) (1,641 ) Gross gains 121 — 121 Gross losses (45 ) (54 ) (99 ) Net gains (losses) 76 (54 ) 22 Impairment (109 ) (14 ) (123 ) Ending balance $ 2,002 $ 179 $ 2,181 ( 1 Valuation adjustments are recorded in other non-interest expense and are primarily post-foreclosure write-downs that are a result of continued declining property values based on updated appraisals or other indications of value, such as offers to purchase. Net realizable value less estimated costs to sell of foreclosed residential real estate held by the Company wa s $0.1 $0.5 June 30, 2019 2018, not June 30, 2019 $48 June 30, 2018. Repossessions In addition to the other real estate and other assets acquired in foreclosure, the Bank and ALC also acquire assets through the repossession of the underlying collateral of loans in default. Total repossessed assets as of both June 30, 2019 December 31, 2018 e $0.2 |
Note 7 - Goodwill and Other Int
Note 7 - Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. GOODWILL AND OTHER INTANGIBLE ASSETS The Company recorded $7.4 2018. six June 30, 2019 December 31, 2018. Goodwill is tested annually, or more often if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not $7.4 June 30, 2019 December 31, 2018. Core deposit premiums are amortized over a seven $2.0 2018 The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) as of June 30, 2019 June 30, 2019 (Dollars in Thousands) Goodwill $ 7,435 Core deposit intangible: Gross carrying amount 2,048 Accumulated amortization (427 ) Core deposit intangible, net 1,621 Total $ 9,056 The Company’s estimated remaining amortization expense on intangibles as of June 30, 2019 Amortization Expense (Dollars in Thousands) 2019 $ 232 2020 414 2021 341 2022 268 2023 195 2024 122 2025 49 Total $ 1,621 The net carrying amount of the Company’s core deposit premiums would not may not |
Note 8 - Short-term Borrowings
Note 8 - Short-term Borrowings | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | 8. SHORT-TERM BORROWINGS Short-term borrowings consist of federal funds purchased, securities sold under repurchase agreements, and short-term Federal Home Loan Bank (“FHLB”) advances with original maturities of one $0.1 $0.5 June 30, 2019 December 31, 2018, Federal funds purchased, which represent unsecured lines of credit that generally mature within one four June 30, 2019 December 31, 2018, no $72.0 $72.2 June 30, 2019 December 31, 2018, Securities sold under repurchase agreements, which are secured borrowings, generally are reflected at the amount of cash received in connection with the transaction. The Bank may June 30, 2019 December 31, 2018 $0.1 $0.5 Short-term FHLB advances are secured borrowings available to the Bank as an alternative funding source. As of both June 30, 2019 December 31, 2018, not one |
Note 9 - Long-term Debt
Note 9 - Long-term Debt | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 9. LONG-TERM DEBT The Company uses FHLB advances as an alternative to funding sources with similar maturities, such as certificates of deposit or other deposit programs. These advances generally offer more attractive rates than other mid-term financing options. They are also flexible, allowing the Company to quickly obtain the necessary maturities and rates that best suit its overall asset/liability strategy. FHLB advances with an original maturity of more than one June 30, 2019 December 31, 2018, not Assets pledged (including loans and investment securities) associated with FHLB advances totaled $36.9 $27.0 June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018, $238.5 $282.2 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 10. INCOME TAXES The provision for income taxes was $0.7 $0.2 six June 30, 2019 2018, 22.5% 17.3% The Company had a net deferred tax asset of $3.4 $4.6 June 30, 2019 December 31, 2018, |
Note 11 - Deferred Compensation
Note 11 - Deferred Compensation Plans | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 11. DEFERRED COMPENSATION PLANS The Company has entered into supplemental retirement compensation benefits agreements with certain directors and executive officers. The measurement of the liability under these agreements includes estimates involving life expectancy, length of time before retirement and the expected returns on the bank-owned life insurance policies used to fund those agreements. Should these estimates prove to be materially wrong, the cost of these agreements could change accordingly. The related deferred compensation obligation to these directors and executive officers included in other liabilities was $3.3 $3.4 June 30, 2019 December 31, 2018, Non-employee directors may June 30, 2019 December 31, 2018, 119,519 116,766 may |
Note 12 - Stock Awards
Note 12 - Stock Awards | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 12. STOCK AWARDS In accordance with the Company’s 2013 may $0.1 six June 30, 2019 2018. Stock Options Stock option awards have been granted with an exercise price equal to the market price of the Company’s common stock on the date of the grant and have vesting periods ranging from one three 10 The Company recognizes the cost of services received in exchange for stock option awards based on the grant date fair value of the award, with compensation expense recognized on a straight-line basis over the award’s vesting period. The fair value of outstanding awards was determined using the Black-Scholes option pricing model based on the assumptions noted in the table below. Expected volatilities are based on historical volatilities of the Company’s common stock. 2019 2018 Risk-free interest rate 2.59 % 2.77 % Expected term (in years) 7.5 7.5 Expected stock price volatility 30.9 % 28.3 % Dividend yield 1.25 % 1.50 % Fair value of stock option 3.30 3.51 The following table summarizes the Company's stock option activity for the periods presented. Six Months Ended June 30, 2019 June 30, 2018 Number of Shares Average Exercise Price Number of Shares Average Exercise Price Options: Outstanding, beginning of period 377,950 $ 9.80 318,000 $ 9.43 Granted 66,150 10.01 62,150 11.71 Exercised — — — — Expired — — — — Forfeited 16,819 11.39 1,450 11.05 Options outstanding, end of period 427,281 $ 9.77 378,700 $ 9.80 Options exercisable, end of period 309,682 $ 9.20 249,300 $ 8.71 The aggregate intrinsic value of stock options outstanding (calculated as the amount by which the market value of underlying stock exceeds the exercise price of the option) was approximately $0.3 $0.9 June 30, 2019 2018, Restricted Stock During the first six 2019 2018, 5,520 10,520 |
Note 13 - Leases
Note 13 - Leases | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 13. LEASES The Bank and ALC are involved in a number of operating leases, primarily for branch locations. Branch leases have remaining lease terms ranging from less than one 15 five one third The following table provides a summary of the components of lease expense, as well as the reporting location in the Condensed Consolidated Statements of Operations for the three six June 30, 2019 2018: Location in the Condensed Three Months Ended Six Months Ended Consolidated Statements of Operations June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in Thousands) (Dollars in Thousands) Operating lease expense (1) Net occupancy and equipment $ 210 $ 137 $ 420 $ 295 Operating lease income (2) Other income, net $ 212 $ — $ 421 $ 34 ( 1 three six June 30, 2019 2018, ( 2 The following table provides supplemental lease information for operating leases on the Condensed Consolidated Balance Sheet as of June 30, 2019: Location in the Condensed Consolidated Balance Sheet June 30, 2019 (Dollars in Thousands) Operating lease right-of-use assets Other assets $ 3,776 Operating lease liabilities Other liabilities $ 3,792 Weighted-average remaining lease term (in years) 7.28 Weighted-average discount rate 3.19 % The following table provides supplemental lease information for the Condensed Consolidated Statements of Cash Flows for the six June 30, 2019 2018: Six Months Ended June 30, 2019 June 30, 2018 (Dollars in Thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 385 $ 230 The following table is a schedule of remaining future minimum lease payments for operating leases that had an initial or remaining non-cancellable lease term in excess of one June 30, 2019: Minimum Rental Payments (Dollars in Thousands) 2019 $ 371 2020 677 2021 574 2022 512 2023 453 2024 and thereafter 1,714 Total future minimum lease payments $ 4,301 Less: Imputed interest 509 Total operating lease liabilities $ 3,792 |
Note 14 - Segment Reporting
Note 14 - Segment Reporting | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 14. SEGMENT REPORTING Under ASC Topic 280, Segment Reporting two 2, 10 December 31, 2018. two All Bank ALC Other Eliminations Consolidated (Dollars in Thousands) As of and for the three months ended June 30 , 2019 : Net interest income $ 5,986 $ 3,240 $ 7 $ — $ 9,233 Provision for loan losses 90 625 — — 715 Total non-interest income 1,108 228 1,384 (1,429 ) 1,291 Total non-interest expense 5,798 2,366 493 (153 ) 8,504 Income before income taxes 1,206 477 898 (1,276 ) 1,305 Provision for income taxes 249 121 (70 ) — 300 Net income $ 957 $ 356 $ 968 $ (1,276 ) $ 1,005 Other significant items: Total assets $ 778,252 $ 107,911 $ 89,102 $ (198,094 ) $ 777,171 Total investment securities 136,569 — 80 — 136,649 Total loans, net 501,177 104,007 — (93,669 ) 511,515 Goodwill and core deposit intangible, net 9,056 — — — 9,056 Investment in subsidiaries 5 — 83,436 (83,436 ) 5 Fixed asset additions 887 64 — — 951 Depreciation and amortization expense 361 35 — — 396 Total interest income from external customers 6,476 4,447 — — 10,923 Total interest income from affiliates 1,206 — 7 (1,213 ) — For the six months ended June 30, 2019: Net interest income $ 11,995 $ 6,398 $ 13 $ — $ 18,406 Provision for loan losses 90 1,025 — — 1,115 Total non-interest income 2,186 447 2,965 (3,042 ) 2,556 Total non-interest expense 11,631 4,734 920 (328 ) 16,957 Income before income taxes 2,460 1,086 2,058 (2,714 ) 2,890 Provision for income taxes 511 264 (124 ) — 651 Net income $ 1,949 $ 822 $ 2,182 $ (2,714 ) $ 2,239 Other significant items: Fixed asset additions 2,564 78 — — 2,642 Depreciation and amortization expense 728 68 — — 796 Total interest income from external customers 12,969 8,766 1 — 21,736 Total interest income from affiliates 2,367 — 12 (2,379 ) — All Bank ALC Other Eliminations Consolidated (Dollars in Thousands) As of and for the three months ended June 30 , 2018 : Net interest income $ 4,244 $ 3,254 $ 4 $ — $ 7,502 Provision for loan losses — 702 — — 702 Total non-interest income 948 272 684 (772 ) 1,132 Total non-interest expense 4,888 2,426 365 (187 ) 7,492 Income before income taxes 304 398 323 (585 ) 440 Provision for income taxes 60 82 (61 ) — 81 Net income $ 244 $ 316 $ 384 $ (585 ) $ 359 Other significant items: Total assets $ 636,623 $ 103,624 $ 81,132 $ (187,343 ) $ 634,036 Total investment securities 165,660 — 80 — 165,740 Total loans, net 345,673 100,792 — (90,936 ) 355,529 Goodwill and core deposit intangible, net — — — — — Investment in subsidiaries 5 — 75,241 (75,241 ) 5 Fixed asset additions 439 55 — — 494 Depreciation and amortization expense 321 32 — — 353 Total interest income from external customers 3,983 4,407 — — 8,390 Total interest income from affiliates 1,154 — 4 (1,158 ) — For the six months ended June 30, 2018: Net interest income $ 8,361 $ 6,447 $ 8 $ — $ 14,816 Provision for loan losses 39 1,321 — — 1,360 Total non-interest income 1,815 528 1,537 (1,608 ) 2,272 Total non-interest expense 9,419 4,950 812 (388 ) 14,793 Income before income taxes 718 704 733 (1,220 ) 935 Provision for income taxes 130 152 (120 ) — 162 Net income $ 588 $ 552 $ 853 $ (1,220 ) $ 773 Other significant items: Fixed asset additions 658 57 — — 715 Depreciation and amortization expense 639 65 — — 704 Total interest income from external customers 7,820 8,689 — — 16,509 Total interest income from affiliates 2,243 — 8 (2,251 ) — |
Note 15 - Guarantees, Commitmen
Note 15 - Guarantees, Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15 . GUARANTEES, COMMITMENTS AND CONTINGENCIES The Bank’s exposure to credit loss in the event of nonperformance by the other party for commitments to make loans and standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making these commitments as it does for on-balance sheet instruments. In the normal course of business, there are outstanding commitments and contingent liabilities, such as commitments to extend credit, letters of credit and others, that are not June 30 , 2019 December 31, 2018 (Dollars in Thousands) Standby letters of credit $ 180 $ 180 Standby performance letters of credit 652 704 Commitments to extend credit $ 102,789 $ 85,972 Standby letters of credit and standby performance letters of credit are contingent commitments issued by the Bank generally to guarantee the performance of a customer to a third third June 30, 2019 December 31, 2018, A commitment to extend credit is an agreement to lend to a customer as long as there is no may not may The Company is self-insured for a significant portion of employee health benefits. However, the Company maintains stop-loss coverage with third not $0.2 $0.1 June 30, 2019 December 31, 2018, may Litigation The Company is party to certain ordinary course litigation from time to time, and the Company intends to vigorously defend itself in all such litigation. In the opinion of the Company, based on review and consultation with legal counsel, the outcome of such ordinary course litigation should not |
Note 16 - Fair Value of Financi
Note 16 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 16. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows the provisions of ASC Topic 820, Fair Value Measurements and Disclosures not Fair Value Hierarchy Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. In determining fair value, the Company uses various methods, including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and/or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market-corroborated or generally unobservable inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on the observability of the inputs used in the valuation techniques, the Company is required to provide the following information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair value. Assets and liabilities carried at fair value will be classified and disclosed in one three ● Level 1 ● Level 2 third ● Level 3 not 3 The Company rarely transfers assets and liabilities measured at fair value between Level 1 2 may 3 no three June 30, 2019 December 31, 2018. Fair Value Measurements on a Recurring Basis Securities Available-for-Sale Where quoted market prices are available in an active market, securities are classified within Level 1 1 2 2 1 2 not 3 The following table presents assets measured at fair value on a recurring basis as of June 30, 2019 December 31, 2018. no Fair Value Measurements as of June 30 , 2019 Using Totals At June 30 , 2019 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Investment securities, available-for-sale Mortgage-backed securities: Residential $ 64,267 $ — $ 64,267 $ — Commercial 48,749 — 48,749 — Obligations of states and political subdivisions 4,865 — 4,865 — U.S. Treasury securities 80 — 80 — Fair Value Measurements as of December 31, 2018 Using Totals At December 31, 2018 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Investment securities, available-for-sale Mortgage-backed securities: Residential $ 72,455 $ — $ 72,455 $ — Commercial 54,289 — 54,289 — Obligations of states and political subdivisions 5,664 — 5,664 — U.S. Treasury securities 79 — 79 — Fair Value Measurements on a Non-recurring Basis Impaired Loans Loans that are considered impaired are loans for which, based on current information and events, it is probable that the Company will be unable to collect all principal and interest payments due under the contractual terms of the loan agreement. Impaired loans can be measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price or the fair value of the collateral less estimated selling cost if the loan is collateral-dependent. For the Company, the fair value of impaired loans is primarily measured based on the value of the collateral securing the loans (typically real estate). The Company determines the fair value of the collateral based on independent appraisals performed by qualified licensed appraisers. The appraisals may may OREO OREO consists of properties obtained through foreclosure or in satisfaction of loans and is recorded at net realizable value, less estimated cost to sell. Estimates of fair value are generally based on third 3 Assets Held-for-Sale Included within other assets are certain assets that were formerly included as premises and equipment but have been removed from service, and as of the balance sheet date, were designated as assets to be disposed of by sale. These include assets associated with branches of the Bank that have been closed. When an asset is designated as held-for-sale, the Company ceases depreciation of the asset, and the asset is recorded at the lower of its carrying amount or fair value less estimated cost to sell. Estimates of fair value are generally based on third 3 The following table presents the balances of impaired loans, OREO and assets held-for-sale measured at fair value on a non-recurring basis as of June 30, 2019 December 31, 2018: Fair Value Measurements as of June 30 , 2019 Using Totals At June 30 , 2019 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Impaired loans $ 355 $ — $ — $ 355 OREO 1,258 — — 1,258 Assets held-for-sale 198 — — 198 Fair Value Measurements as of December 31, 2018 Using Totals At December 31, 2018 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Impaired loans $ 665 $ — $ — $ 665 OREO 1,505 — — 1,505 Assets held-for-sale 198 — — 198 Non-recurring Fair Value Measurements Using Significant Unobservable Inputs The following table presents information regarding assets and liabilities measured at fair value using significant unobservable inputs (Level 3 June 30, 2019. June 30, 2019 Level 3 Significant Unobservable Input Assumptions Fair Value June 30 , 2019 Valuation Technique Unobservable Input Quantitative Range of Unobservable Inputs (Weighted Average) (Dollars in Thousands) Non-recurring fair value measurements: Impaired loans $ 355 Multiple data points, including discount to appraised value of collateral based on recent market activity Appraisal comparability adjustment (discount) 9% - 10% ( 9.5%) OREO $ 1,258 Discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 9% - 10% ( 9.5%) Assets held-for-sale $ 198 Discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 9% - 10% ( 9.5%) Impaired Loans Impaired loans are valued based on multiple data points indicating the fair value for each loan. The primary data point is the appraisal value of the underlying collateral, to which a discount is applied. Management establishes this discount or comparability adjustment based on recent sales of similar property types. As liquidity in the market increases or decreases, the comparability adjustment and the resulting asset valuation are impacted. OREO OREO under a binding contract for sale is valued based on contract price. If no Assets Held-for-Sale Assets designated as held-for-sale that are under a binding contract are valued based on the contract price. If no Fair Value of Financial Instruments ASC Topic 825, Financial Instruments not Cash, due from banks and federal funds sold: Federal Home Loan Bank stock: no Investment securities: not Accrued interest receivable and payable: Loans, net: Demand and savings deposits: Time deposits: Short-term borrowings: may Long-term debt: Off-balance sheet instruments: The estimated fair value and related carrying or notional amounts, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of June 30, 2019 December 31, 2018 June 30 , 2019 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (Dollars in Thousands) Assets: Cash and cash equivalents $ 44,859 $ 44,859 $ 44,859 $ — $ — Investment securities available-for-sale 117,961 117,961 — 117,961 — Investment securities held-to-maturity 18,688 18,574 — 18,574 — Federal funds sold 15,081 15,081 — 15,081 — Federal Home Loan Bank stock 713 713 — — 713 Loans, net of allowance for loan losses 511,515 516,490 — — 516,490 Liabilities: Deposits 682,806 682,865 — 682,865 — Short-term borrowings 73 73 — 73 — December 31, 2018 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (Dollars in Thousands) Assets: Cash and cash equivalents $ 49,599 $ 49,599 $ 49,599 $ — $ — Investment securities available-for-sale 132,487 132,487 — 132,487 — Investment securities held-to-maturity 21,462 20,852 — 20,852 — Federal funds sold 8,354 8,354 — 8,354 — Federal Home Loan Bank stock 703 703 — — 703 Loans, net of allowance for loan losses 514,867 516,420 — — 516,420 Liabilities: Deposits 704,725 702,832 — 702,832 — Short-term borrowings 527 527 — 527 — |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Share Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding (basic shares). Included in basic shares are certain shares that have been accrued as of the balance sheet date as deferred compensation for members of Bancshares’ Board of Directors. Diluted net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period (dilutive shares). The dilutive shares consist of nonqualified stock option grants issued to employees and members of Bancshares’ Board of Directors pursuant to Bancshares’ 2013 Incentive Plan (as amended, the “2013 Incentive Plan”) previously approved by Bancshares’ shareholders. The following table reflects weighted average shares used to calculate basic and diluted net income per share for the periods presented. Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Basic shares 6,423,642 6,195,801 6,420,653 6,192,117 Dilutive shares 427,282 378,701 427,282 378,701 Diluted shares 6,850,924 6,574,502 6,847,935 6,570,818 Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (Dollars in Thousands, Except Per Share Data) Net income $ 1,005 $ 359 $ 2,239 $ 773 Basic net income per share $ 0.16 $ 0.06 $ 0.35 $ 0.13 Diluted net income per share $ 0.15 $ 0.06 $ 0.33 $ 0.12 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income consists of net income, as well as unrealized holding gains and losses that arise during the period associated with the Company’s available-for-sale securities portfolio and the effective portion of cash flow hedge derivatives. In the calculation of comprehensive income, reclassification adjustments are made for gains or losses realized in the statement of operations associated with the sale of available-for-sale securities, settlement of derivative contracts or changes in the fair value of cash flow derivatives. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Policies Recently Adopted Accounting Standards Update (“ASU”) , “Targeted Improvements to Accounting for Hedging Activities.” Accounting Standards Codification (“ASC”) Topic Derivatives and Hedging ASU - “Leases (Topic ).” $3.8 Pending Accounting Pronouncements ASU 2018 15 , “Intangibles-Goodwill and Other – Internal-Use Software (Subtopic 350 40 ): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force).” August 2018, 2018 15 2018 15 2018 15 350 40, – 2018 15 1 2 not 3 not 2018 15 2018 15 December 15, 2019. not not 2018 15 ASU 2018 13 , “Fair Value Measurement (Topic 820 ): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement.” August 2018, 820 1 1 2 2 3 3 1 2 1 3 2 3 2018 13 December 15, 2019. . ASU 2017 04, “Intangibles-Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment.” January 2017, 2017 04 2 2 2, 2017 04, 2017 04, 1 2 not 2017 04 zero 2 2017 04 December 15, 2019. . ASU 2016 - 13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments June 2016, 2016 13 not 2016 13 2016 13 December 15, 2019, first July 2019, 2016 13 three 30 2016 13 one first one not 2016 13. |
Revenue from Contract with Customer [Policy Text Block] | Revenue On January 1, 2018, 2014 09, Revenue from Contracts with Customers 606. 606 no no December 31, 2018. January 1, 2018 606, The majority of the Company’s revenue is generated through interest earned on financial instruments, including loans and investment securities, which falls outside the scope of ASC Topic 606. 606. All of the Company’s revenue that is subject to ASC Topic 606 not 606. 606 six June 30, 2019 2018 $1.6 three June 30, 2019 2018 $0.8 606 no June 30, 2019. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Basic shares 6,423,642 6,195,801 6,420,653 6,192,117 Dilutive shares 427,282 378,701 427,282 378,701 Diluted shares 6,850,924 6,574,502 6,847,935 6,570,818 Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (Dollars in Thousands, Except Per Share Data) Net income $ 1,005 $ 359 $ 2,239 $ 773 Basic net income per share $ 0.16 $ 0.06 $ 0.35 $ 0.13 Diluted net income per share $ 0.15 $ 0.06 $ 0.33 $ 0.12 |
Note 3 - Acquisition Activity (
Note 3 - Acquisition Activity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Acquired from TPB Fair Value Adjustments Fair Value as of August 31, 2018 Assets Acquired: Cash and cash equivalents $ 3,085 $ — $ 3,085 Investment securities, available-for-sale 5,977 — 5,977 Federal Home Loan Bank stock, at cost 565 — 565 Loans 156,772 (2,195 ) 154,577 Allowance for loan losses (1,702 ) 1,702 — Net loans 155,070 (493 ) 154,577 Premises and equipment, net 1,198 17 1,215 Other real estate owned 85 — 85 Other assets 551 (328 ) 223 Core deposit intangible — 2,048 2,048 Total assets acquired $ 166,531 $ 1,244 $ 167,775 Liabilities Assumed: Deposits 140,033 342 140,375 Short-term borrowings 10,000 — 10,000 Other liabilities 437 — 437 Total liabilities assumed 150,470 342 150,812 Shareholders’ Equity Assumed: Common stock 1,027 (1,027 ) — Surplus 5,280 (5,280 ) — Accumulated other comprehensive income, net of tax 17 (17 ) — Retained earnings 9,737 (9,737 ) — Total shareholders’ equity assumed 16,061 (16,061 ) — Total liabilities and shareholders’ equity assumed $ 166,531 $ (15,719 ) $ 150,812 Net assets acquired $ 16,963 Purchase price 24,398 Goodwill $ 7,435 |
Business Combination, Loans Acquired [Table Text Block] | August 31, 2018 Acquired from TPB Fair Value Adjustments Fair Value as of August 31, 2018 (Dollars in Thousands) Purchased performing loans $ 153,862 $ (2,116 ) $ 151,746 Purchased credit impaired loans 2,910 (79 ) 2,831 Total purchased loans $ 156,772 $ (2,195 ) $ 154,577 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Investment Securities Available-for-sale and Held-to-Maturity [Table Text Block] | Available-for-Sale June 30 , 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Residential $ 64,271 $ 330 $ (334 ) $ 64,267 Commercial 49,306 46 (603 ) 48,749 Obligations of states and political subdivisions 4,754 111 — 4,865 U.S. Treasury securities 79 1 — 80 Total $ 118,410 $ 488 $ (937 ) $ 117,961 Held-to-Maturity June 30 , 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Commercial $ 10,483 $ — $ (86 ) $ 10,397 Obligations of U.S. government-sponsored agencies 6,548 — (40 ) 6,508 Obligations of states and political subdivisions 1,657 13 (1 ) 1,669 Total $ 18,688 $ 13 $ (127 ) $ 18,574 Available-for-Sale December 31, 2018 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Mortgage-backed securities: Residential $ 73,859 $ 113 $ (1,517 ) $ 72,455 Commercial 56,101 10 (1,822 ) 54,289 Obligations of states and political subdivisions 5,617 51 (4 ) 5,664 U.S. Treasury securities 79 — — 79 Total $ 135,656 $ 174 $ (3,343 ) $ 132,487 Held-to-Maturity December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Dollars in Thousands) Mortgage-backed securities: Commercial $ 11,716 $ — $ (349 ) $ 11,367 Obligations of U.S. government-sponsored agencies 8,026 — (244 ) 7,782 Obligations of states and political subdivisions 1,720 — (17 ) 1,703 Total $ 21,462 $ — $ (610 ) $ 20,852 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-Sale Held-to-Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (Dollars in Thousands) Maturing within one year $ 259 $ 261 $ 122 $ 122 Maturing after one to five years 34,821 34,766 3,397 3,400 Maturing after five to ten years 47,803 47,686 6,176 6,113 Maturing after ten years 35,527 35,248 8,993 8,939 Total $ 118,410 $ 117,961 $ 18,688 $ 18,574 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Available-for-Sale June 30 , 2019 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Residential $ 180 $ — $ 40,760 $ (334 ) Commercial 2 — 41,114 (603 ) U.S. Treasury securities 80 — — — Total $ 262 $ — $ 81,874 $ (937 ) Held-to-Maturity June 30 , 2019 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Commercial $ — $ — $ 10,397 $ (86 ) Obligations of U.S. government-sponsored agencies — — 6,386 (40 ) Obligations of states and political subdivisions — — 508 (1 ) Total $ — $ — $ 17,291 $ (127 ) Available-for-Sale December 31, 2018 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Residential $ 9,417 $ (87 ) $ 53,507 $ (1,430 ) Commercial 461 (3 ) 53,430 (1,819 ) Obligations of states and political subdivisions 879 (2 ) 420 (2 ) U.S. Treasury securities 79 — — — Total $ 10,836 $ (92 ) $ 107,357 $ (3,251 ) Held-to-Maturity December 31, 2018 Less than 12 Months 12 Months or More Fair Value Unrealized Losses Fair Value Unrealized Losses (Dollars in Thousands) Mortgage-backed securities: Commercial $ — $ — $ 11,367 $ (349 ) Obligations of U.S. government-sponsored agencies — — 7,782 (244 ) Obligations of states and political subdivisions 770 — 933 (17 ) Total $ 770 $ — $ 20,082 $ (610 ) |
Note 5 - Loans and Allowance _2
Note 5 - Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30 , 201 Bank ALC Total (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ 27,521 $ — $ 27,521 Secured by 1-4 family residential properties 96,805 6,549 103,354 Secured by multi-family residential properties 28,033 — 28,033 Secured by non-farm, non-residential properties 158,748 — 158,748 Other 880 — 880 Commercial and industrial loans (1) 91,489 — 91,489 Consumer loans: Consumer 7,241 29,919 37,160 Branch retail — 29,609 29,609 Indirect sales — 45,466 45,466 Total loans 410,717 111,543 522,260 Less: Unearned interest, fees and deferred cost 411 5,247 5,658 Allowance for loan losses 2,798 2,289 5,087 Net loans $ 407,508 $ 104,007 $ 511,515 December 31, 201 Bank ALC Total (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ 41,340 $ — $ 41,340 Secured by 1-4 family residential properties 102,971 7,785 110,756 Secured by multi-family residential properties 23,009 — 23,009 Secured by non-farm, non-residential properties 156,162 — 156,162 Other 1,308 — 1,308 Commercial and industrial loans (1) 85,779 — 85,779 Consumer loans: Consumer 6,927 31,656 38,583 Branch retail — 28,324 28,324 Indirect sales — 40,609 40,609 Total loans 417,496 108,374 525,870 Less: Unearned interest, fees and deferred cost 331 5,617 5,948 Allowance for loan losses 2,735 2,320 5,055 Net loans $ 414,430 $ 100,437 $ 514,867 |
Loans and Leases and Allowance for Loan Losses, Acquired Loans [Table Text Block] | June 30, 2019 December 31, 2018 (Dollars in Thousands) Real estate loans: Construction, land development and other land loans $ — $ 75 Secured by 1-4 family residential properties 236 492 Outstanding balance 236 567 Fair value adjustment (66 ) (70 ) Carrying amount, net of fair value adjustment $ 170 $ 497 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Bank Six Months Ended June 30, 2019 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 240 $ 322 $ 128 $ 831 $ 1 $ 1,138 $ 75 $ — $ — $ 2,735 Charge-offs — (47 ) — — — — (15 ) — — (62 ) Recoveries — 9 — — — 3 23 — — 35 Provision (50 ) 77 38 (22 ) — 63 (16 ) — — 90 Ending balance $ 190 $ 361 $ 166 $ 809 $ 1 $ 1,204 $ 67 $ — $ — $ 2,798 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ 95 $ 16 $ — $ — $ — $ 65 $ 12 $ — $ — $ 188 Collectively evaluated for impairment 95 345 166 809 1 1,139 55 — — 2,610 Loans acquired with deteriorated credit quality — — — — — — — — — — Total allowance for loan losses $ 190 $ 361 $ 166 $ 809 $ 1 $ 1,204 $ 67 $ — $ — $ 2,798 Ending balance of loans receivable: Individually evaluated for impairment $ 421 $ 947 $ — $ 504 $ — $ 65 $ 35 $ — $ — $ 1,972 Collectively evaluated for impairment 27,100 95,688 28,033 158,244 880 91,424 7,206 — — 408,575 Loans acquired with deteriorated credit quality — 170 — — — — — — — 170 Total loans receivable $ 27,521 $ 96,805 $ 28,033 $ 158,748 $ 880 $ 91,489 $ 7,241 $ — $ — $ 410,717 ALC Six Months Ended June 30, 2019 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ — $ 24 $ — $ — $ — $ — $ 1,724 $ 427 $ 145 $ 2,320 Charge-offs — (30 ) — — — — (1,075 ) (201 ) (128 ) (1,434 ) Recoveries — 6 — — — — 311 59 2 378 Provision — 28 — — — — 662 151 184 1,025 Ending balance $ — $ 28 $ — $ — $ — $ — $ 1,622 $ 436 $ 203 $ 2,289 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment — 28 — — — — 1,622 436 203 2,289 Total allowance for loan losses $ — $ 28 $ — $ — $ — $ — $ 1,622 $ 436 $ 203 $ 2,289 Ending balance of loans receivable: Individually evaluated for impairment $ — $ 194 $ — $ — $ — $ — $ — $ — $ — $ 194 Collectively evaluated for impairment — 6,355 — — — — 29,919 29,609 45,466 111,349 Total loans receivable $ — $ 6,549 $ — $ — $ — $ — $ 29,919 $ 29,609 $ 45,466 $ 111,543 Bank and ALC Six Months Ended June 30, 2019 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 240 $ 346 $ 128 $ 831 $ 1 $ 1,138 $ 1,799 $ 427 $ 145 $ 5,055 Charge-offs — (77 ) — — — — (1,090 ) (201 ) (128 ) (1,496 ) Recoveries — 15 — — — 3 334 59 2 413 Provision (50 ) 105 38 (22 ) — 63 646 151 184 1,115 Ending balance $ 190 $ 389 $ 166 $ 809 $ 1 $ 1,204 $ 1,689 $ 436 $ 203 $ 5,087 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ 95 $ 16 $ — $ — $ — $ 65 $ 12 $ — $ — $ 188 Collectively evaluated for impairment 95 373 166 809 1 1,139 1,677 436 203 4,899 Loans acquired with deteriorated credit quality — — — — — — — — — — Total allowance for loan losses $ 190 $ 389 $ 166 $ 809 $ 1 $ 1,204 $ 1,689 $ 436 $ 203 $ 5,087 Ending balance of loans receivable: Individually evaluated for impairment $ 421 $ 1,141 $ — $ 504 $ — $ 65 $ 35 $ — $ — $ 2,166 Collectively evaluated for impairment 27,100 102,043 28,033 158,244 880 91,424 37,125 29,609 45,466 519,924 Loans acquired with deteriorated credit quality — 170 — — — — — — — 170 Total loans receivable $ 27,521 $ 103,354 $ 28,033 $ 158,748 $ 880 $ 91,489 $ 37,160 $ 29,609 $ 45,466 $ 522,260 Bank Year Ended December 31, 2018 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 203 $ 238 $ 116 $ 777 $ 2 $ 1,049 $ 62 $ — $ — $ 2,447 Charge-offs — (9 ) — — — (3 ) (4 ) — — (16 ) Recoveries — 51 — 4 — 11 23 — — 89 Provision 37 42 12 50 (1 ) 81 (6 ) — — 215 Ending balance $ 240 $ 322 $ 128 $ 831 $ 1 $ 1,138 $ 75 $ — $ — $ 2,735 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ 28 $ 50 $ — $ 1 $ — $ 67 $ 20 $ — $ — $ 166 Collectively evaluated for impairment 212 272 128 830 1 1,071 55 — — 2,569 Loans acquired with deteriorated credit quality — — — — — — — — — — Total allowance for loan losses $ 240 $ 322 $ 128 $ 831 $ 1 $ 1,138 $ 75 $ — $ — $ 2,735 Ending balance of loans receivable: Individually evaluated for impairment $ 153 $ 57 $ — $ 511 $ — $ 67 $ 43 $ — $ — $ 831 Collectively evaluated for impairment 41,114 102,490 23,009 155,651 1,308 85,712 6,884 — — 416,168 Loans acquired with deteriorated credit quality 73 424 — — — — — — — 497 Total loans receivable $ 41,340 $ 102,971 $ 23,009 $ 156,162 $ 1,308 $ 85,779 $ 6,927 $ — $ — $ 417,496 ALC Year Ended December 31, 2018 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ — $ 52 $ — $ — $ — $ — $ 1,653 $ 393 $ 229 $ 2,327 Charge-offs — (92 ) — — — — (2,478 ) (415 ) (116 ) (3,101 ) Recoveries — 23 — — — — 545 113 6 687 Provision — 41 — — — — 2,004 336 26 2,407 Ending balance $ — $ 24 $ — $ — $ — $ — $ 1,724 $ 427 $ 145 $ 2,320 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment — 24 — — — — 1,724 427 145 2,320 Total allowance for loan losses $ — $ 24 $ — $ — $ — $ — $ 1,724 $ 427 $ 145 $ 2,320 Ending balance of loans receivable: Individually evaluated for impairment $ — $ 211 $ — $ — $ — $ — $ — $ — $ — $ 211 Collectively evaluated for impairment — 7,574 — — — — 31,656 28,324 40,609 108,163 Total loans receivable $ — $ 7,785 $ — $ — $ — $ — $ 31,656 $ 28,324 $ 40,609 $ 108,374 Bank and ALC Year Ended December 31, 2018 Construction, Land 1-4 Family Real Estate Multi-Family Non- Farm on-Residential Other Commercial Consumer Branch Retail Indirect Sales Total (Dollars in Thousands) Allowance for loan losses: Beginning balance $ 203 $ 290 $ 116 $ 777 $ 2 $ 1,049 $ 1,715 $ 393 $ 229 $ 4,774 Charge-offs — (101 ) — — — (3 ) (2,482 ) (415 ) (116 ) (3,117 ) Recoveries — 74 — 4 — 11 568 113 6 776 Provision 37 83 12 50 (1 ) 81 1,998 336 26 2,622 Ending balance $ 240 $ 346 $ 128 $ 831 $ 1 $ 1,138 $ 1,799 $ 427 $ 145 $ 5,055 Ending balance of allowance attributable to loans: Individually evaluated for impairment $ 28 $ 50 $ — $ 1 $ — $ 67 $ 20 $ — $ — $ 166 Collectively evaluated for impairment 212 296 128 830 1 1,071 1,779 427 145 4,889 Loans acquired with deteriorated credit quality — — — — — — — — — — Total allowance for loan losses $ 240 $ 346 $ 128 $ 831 $ 1 $ 1,138 $ 1,799 $ 427 $ 145 $ 5,055 Ending balance of loans receivable: Individually evaluated for impairment $ 153 $ 268 $ — $ 511 $ — $ 67 $ 43 $ — $ — $ 1,042 Collectively evaluated for impairment 41,114 110,064 23,009 155,651 1,308 85,712 38,540 28,324 40,609 524,331 Loans acquired with deteriorated credit quality 73 424 — — — — — — — 497 Total loans receivable $ 41,340 $ 110,756 $ 23,009 $ 156,162 $ 1,308 $ 85,779 $ 38,583 $ 28,324 $ 40,609 $ 525,870 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Bank Pass 1-5 Special Mention 6 Substandard 7 Total (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 27,034 $ 340 $ 147 $ 27,521 Secured by 1-4 family residential properties 94,586 152 2,067 96,805 Secured by multi-family residential properties 28,033 — — 28,033 Secured by non-farm, non-residential properties 155,808 1,911 1,029 158,748 Other 880 — — 880 Commercial and industrial loans 89,418 1,925 146 91,489 Consumer loans 7,178 — 63 7,241 Total $ 402,937 $ 4,328 $ 3,452 $ 410,717 ALC Performing Nonperforming Total (Dollars in Thousands) Loans secured by real estate: Secured by 1-4 family residential properties $ 6,438 $ 111 $ 6,549 Consumer loans: Consumer 29,409 510 29,919 Branch retail 29,499 110 29,609 Indirect sales 45,360 106 45,466 Total $ 110,706 $ 837 $ 111,543 Bank Pass 1-5 Special Mention 6 Substandard 7 Total (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 40,200 $ 914 $ 226 $ 41,340 Secured by 1-4 family residential properties 100,485 154 2,332 102,971 Secured by multi-family residential properties 23,009 — — 23,009 Secured by non-farm, non-residential properties 153,077 1,996 1,089 156,162 Other 1,308 — — 1,308 Commercial and industrial loans 83,261 1,977 541 85,779 Consumer loans 6,848 — 79 6,927 Total $ 408,188 $ 5,041 $ 4,267 $ 417,496 ALC Performing Nonperforming Total (Dollars in Thousands) Loans secured by real estate: Secured by 1-4 family residential properties $ 7,657 $ 128 $ 7,785 Consumer loans: Consumer 30,826 830 31,656 Branch retail 28,171 153 28,324 Indirect sales 40,491 118 40,609 Total $ 107,145 $ 1,229 $ 108,374 |
Financing Receivable, Past Due [Table Text Block] | Bank As of June 30 , 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ 27,521 $ 27,521 $ — Secured by 1-4 family residential properties 185 369 — 554 96,251 96,805 — Secured by multi-family residential properties — — — — 28,033 28,033 — Secured by non-farm, non-residential properties 470 — 10 480 158,268 158,748 — Other — — 10 10 870 880 — Commercial and industrial loans 116 — — 116 91,373 91,489 — Consumer loans 62 23 18 103 7,138 7,241 — Total $ 833 $ 392 $ 38 $ 1,263 $ 409,454 $ 410,717 $ — ALC As of June 30 , 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ — $ — $ — Secured by 1-4 family residential properties 65 56 111 232 6,317 6,549 — Secured by multi-family residential properties — — — — — — — Secured by non-farm, non-residential properties — — — — — — — Other — — — — — — — Commercial and industrial loans — — — — — — — Consumer loans: Consumer 369 272 510 1,151 28,768 29,919 — Branch retail 154 55 110 319 29,290 29,609 — Indirect sales 192 10 106 308 45,158 45,466 — Total $ 780 $ 393 $ 837 $ 2,010 $ 109,533 $ 111,543 $ — Bank As of December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ 415 $ 582 $ 74 $ 1,071 $ 40,269 $ 41,340 $ — Secured by 1-4 family residential properties 991 36 539 1,566 101,405 102,971 — Secured by multi-family residential properties — — — — 23,009 23,009 — Secured by non-farm, non-residential properties 458 13 — 471 155,691 156,162 — Other — — — — 1,308 1,308 — Commercial and industrial loans 2,608 30 384 3,022 82,757 85,779 — Consumer loans 80 — 4 84 6,843 6,927 — Total $ 4,552 $ 661 $ 1,001 $ 6,214 $ 411,282 $ 417,496 $ — ALC As of December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days Or Greater Total Past Due Current Total Loans Recorded Investment > 90 Days And Accruing (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ — $ — $ — $ — $ — $ — Secured by 1-4 family residential properties 60 65 128 253 7,532 7,785 — Secured by multi-family residential properties — — — — — — — Secured by non-farm, non-residential properties — — — — — — — Other — — — — — — — Commercial and industrial loans — — — — — — — Consumer loans: Consumer 563 354 830 1,747 29,909 31,656 — Branch retail 164 98 153 415 27,909 28,324 Indirect sales 184 79 118 381 40,228 40,609 — Total $ 971 $ 596 $ 1,229 $ 2,796 $ 105,578 $ 108,374 $ — |
Financing Receivable, Nonaccrual [Table Text Block] | Loans on Non-Accrual Status June 30 , 2019 December 31, 2018 (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans $ — $ 73 Secured by 1-4 family residential properties 632 1,097 Secured by multi-family residential properties — — Secured by non-farm, non-residential properties 20 14 Other 10 — Commercial and industrial loans 33 424 Consumer loans: Consumer 568 879 Branch retail 110 153 Indirect sales 106 119 Total loans $ 1,479 $ 2,759 |
Impaired Financing Receivables [Table Text Block] | June 30, 2019 Carrying Amount Unpaid Principal Balance Related Allowances (Dollars in Thousands) Impaired loans with no related allowance recorded Loans secured by real estate Construction, land development and other land loans $ — $ — $ — Secured by 1-4 family residential properties 1,289 1,289 — Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 504 504 — Commercial and industrial — — — Consumer — — — Total loans with no related allowance recorded $ 1,793 $ 1,793 $ — Impaired loans with an allowance recorded Loans secured by real estate Construction, land development and other land loans $ 421 $ 421 $ 95 Secured by 1-4 family residential properties 22 22 16 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties — — — Commercial and industrial 65 65 65 Consumer 35 35 12 Total loans with an allowance recorded $ 543 $ 543 $ 188 Total impaired loans Loans secured by real estate Construction, land development and other land loans $ 421 $ 421 $ 95 Secured by 1-4 family residential properties 1,311 1,311 16 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 504 504 — Commercial and industrial 65 65 65 Consumer 35 35 12 Total impaired loans $ 2,336 $ 2,336 $ 188 December 31, 2018 Carrying Amount Unpaid Principal Balance Related Allowances (Dollars in Thousands) Impaired loans with no related allowance recorded Loans secured by real estate Construction, land development and other land loans $ 73 $ 73 $ — Secured by 1-4 family residential properties 635 635 — Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties — — — Commercial and industrial — — — Consumer — — — Total loans with no related allowance recorded $ 708 $ 708 $ — Impaired loans with an allowance recorded Loans secured by real estate Construction, land development and other land loans $ 153 $ 153 $ 28 Secured by 1-4 family residential properties 57 57 50 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 511 511 1 Commercial and industrial 67 67 67 Consumer 43 43 20 Total loans with an allowance recorded $ 831 $ 831 $ 166 Total impaired loans Loans secured by real estate Construction, land development and other land loans $ 226 $ 226 $ 28 Secured by 1-4 family residential properties 692 692 50 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 511 511 1 Commercial and industrial 67 67 67 Consumer 43 43 20 Total impaired loans $ 1,539 $ 1,539 $ 166 Six Months Ended June 30 , 2019 Average Recorded Investment Interest Income Recognized Interest Income Received (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ 181 $ 7 $ 6 Secured by 1-4 family residential properties 1,062 31 28 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 718 19 18 Other — — — Commercial and industrial 66 4 3 Consumer 40 1 1 Total $ 2,067 $ 62 $ 56 Year Ended December 31, 2018 Average Recorded Investment Interest Income Recognized Interest Income Received (Dollars in Thousands) Loans secured by real estate Construction, land development and other land loans $ 70 $ 8 $ 8 Secured by 1-4 family residential properties 794 16 16 Secured by multi-family residential properties — — — Secured by non-farm, non-residential properties 523 34 35 Other 1 — — Commercial and industrial 57 4 5 Consumer 15 3 3 Total $ 1,460 $ 65 $ 67 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | June 30 , 2019 December 31, 2018 Number of Loans Pre- Modification Outstanding Principal Balance Post- Modification Principal Balance Number of Loans Pre- Modification Outstanding Principal Balance Post- Modification Principal Balance (Dollars in Thousands) Loans secured by real estate: Construction, land development and other land loans 1 $ 107 $ 69 1 $ 107 $ 73 Secured by 1-4 family residential properties 3 318 64 3 318 118 Secured by non-farm, non-residential properties — — — 1 53 34 Commercial loans 2 116 67 2 116 72 Total 6 $ 541 $ 200 7 $ 594 $ 297 |
Note 6 - Other Real Estate Ow_2
Note 6 - Other Real Estate Owned and Repossessions (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Other Real Estate Assets Acquired in Foreclosure Roll Forward [Table Text Block] | June 30 , 2019 Bank ALC Total (Dollars in Thousands) Beginning balance $ 1,401 $ 104 $ 1,505 Additions (1) 224 38 262 Sales proceeds (404 ) (79 ) (483 ) Gross gains 37 2 39 Gross losses — (27 ) (27 ) Net gains (losses) 37 (25 ) 12 Impairment — (38 ) (38 ) Ending balance $ 1,258 $ — $ 1,258 June 30 , 2018 Bank ALC Total (Dollars in Thousands) Beginning balance $ 3,527 $ 265 $ 3,792 Additions (1) 106 25 131 Sales proceeds (1,598 ) (43 ) (1,641 ) Gross gains 121 — 121 Gross losses (45 ) (54 ) (99 ) Net gains (losses) 76 (54 ) 22 Impairment (109 ) (14 ) (123 ) Ending balance $ 2,002 $ 179 $ 2,181 |
Note 7 - Goodwill and Other I_2
Note 7 - Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | June 30, 2019 (Dollars in Thousands) Goodwill $ 7,435 Core deposit intangible: Gross carrying amount 2,048 Accumulated amortization (427 ) Core deposit intangible, net 1,621 Total $ 9,056 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Amortization Expense (Dollars in Thousands) 2019 $ 232 2020 414 2021 341 2022 268 2023 195 2024 122 2025 49 Total $ 1,621 |
Note 12 - Stock Awards (Tables)
Note 12 - Stock Awards (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2019 2018 Risk-free interest rate 2.59 % 2.77 % Expected term (in years) 7.5 7.5 Expected stock price volatility 30.9 % 28.3 % Dividend yield 1.25 % 1.50 % Fair value of stock option 3.30 3.51 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Six Months Ended June 30, 2019 June 30, 2018 Number of Shares Average Exercise Price Number of Shares Average Exercise Price Options: Outstanding, beginning of period 377,950 $ 9.80 318,000 $ 9.43 Granted 66,150 10.01 62,150 11.71 Exercised — — — — Expired — — — — Forfeited 16,819 11.39 1,450 11.05 Options outstanding, end of period 427,281 $ 9.77 378,700 $ 9.80 Options exercisable, end of period 309,682 $ 9.20 249,300 $ 8.71 |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Location in the Condensed Three Months Ended Six Months Ended Consolidated Statements of Operations June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in Thousands) (Dollars in Thousands) Operating lease expense (1) Net occupancy and equipment $ 210 $ 137 $ 420 $ 295 Operating lease income (2) Other income, net $ 212 $ — $ 421 $ 34 Location in the Condensed Consolidated Balance Sheet June 30, 2019 (Dollars in Thousands) Operating lease right-of-use assets Other assets $ 3,776 Operating lease liabilities Other liabilities $ 3,792 Weighted-average remaining lease term (in years) 7.28 Weighted-average discount rate 3.19 % Six Months Ended June 30, 2019 June 30, 2018 (Dollars in Thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 385 $ 230 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Minimum Rental Payments (Dollars in Thousands) 2019 $ 371 2020 677 2021 574 2022 512 2023 453 2024 and thereafter 1,714 Total future minimum lease payments $ 4,301 Less: Imputed interest 509 Total operating lease liabilities $ 3,792 |
Note 14 - Segment Reporting (Ta
Note 14 - Segment Reporting (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | All Bank ALC Other Eliminations Consolidated (Dollars in Thousands) As of and for the three months ended June 30 , 2019 : Net interest income $ 5,986 $ 3,240 $ 7 $ — $ 9,233 Provision for loan losses 90 625 — — 715 Total non-interest income 1,108 228 1,384 (1,429 ) 1,291 Total non-interest expense 5,798 2,366 493 (153 ) 8,504 Income before income taxes 1,206 477 898 (1,276 ) 1,305 Provision for income taxes 249 121 (70 ) — 300 Net income $ 957 $ 356 $ 968 $ (1,276 ) $ 1,005 Other significant items: Total assets $ 778,252 $ 107,911 $ 89,102 $ (198,094 ) $ 777,171 Total investment securities 136,569 — 80 — 136,649 Total loans, net 501,177 104,007 — (93,669 ) 511,515 Goodwill and core deposit intangible, net 9,056 — — — 9,056 Investment in subsidiaries 5 — 83,436 (83,436 ) 5 Fixed asset additions 887 64 — — 951 Depreciation and amortization expense 361 35 — — 396 Total interest income from external customers 6,476 4,447 — — 10,923 Total interest income from affiliates 1,206 — 7 (1,213 ) — For the six months ended June 30, 2019: Net interest income $ 11,995 $ 6,398 $ 13 $ — $ 18,406 Provision for loan losses 90 1,025 — — 1,115 Total non-interest income 2,186 447 2,965 (3,042 ) 2,556 Total non-interest expense 11,631 4,734 920 (328 ) 16,957 Income before income taxes 2,460 1,086 2,058 (2,714 ) 2,890 Provision for income taxes 511 264 (124 ) — 651 Net income $ 1,949 $ 822 $ 2,182 $ (2,714 ) $ 2,239 Other significant items: Fixed asset additions 2,564 78 — — 2,642 Depreciation and amortization expense 728 68 — — 796 Total interest income from external customers 12,969 8,766 1 — 21,736 Total interest income from affiliates 2,367 — 12 (2,379 ) — All Bank ALC Other Eliminations Consolidated (Dollars in Thousands) As of and for the three months ended June 30 , 2018 : Net interest income $ 4,244 $ 3,254 $ 4 $ — $ 7,502 Provision for loan losses — 702 — — 702 Total non-interest income 948 272 684 (772 ) 1,132 Total non-interest expense 4,888 2,426 365 (187 ) 7,492 Income before income taxes 304 398 323 (585 ) 440 Provision for income taxes 60 82 (61 ) — 81 Net income $ 244 $ 316 $ 384 $ (585 ) $ 359 Other significant items: Total assets $ 636,623 $ 103,624 $ 81,132 $ (187,343 ) $ 634,036 Total investment securities 165,660 — 80 — 165,740 Total loans, net 345,673 100,792 — (90,936 ) 355,529 Goodwill and core deposit intangible, net — — — — — Investment in subsidiaries 5 — 75,241 (75,241 ) 5 Fixed asset additions 439 55 — — 494 Depreciation and amortization expense 321 32 — — 353 Total interest income from external customers 3,983 4,407 — — 8,390 Total interest income from affiliates 1,154 — 4 (1,158 ) — For the six months ended June 30, 2018: Net interest income $ 8,361 $ 6,447 $ 8 $ — $ 14,816 Provision for loan losses 39 1,321 — — 1,360 Total non-interest income 1,815 528 1,537 (1,608 ) 2,272 Total non-interest expense 9,419 4,950 812 (388 ) 14,793 Income before income taxes 718 704 733 (1,220 ) 935 Provision for income taxes 130 152 (120 ) — 162 Net income $ 588 $ 552 $ 853 $ (1,220 ) $ 773 Other significant items: Fixed asset additions 658 57 — — 715 Depreciation and amortization expense 639 65 — — 704 Total interest income from external customers 7,820 8,689 — — 16,509 Total interest income from affiliates 2,243 — 8 (2,251 ) — |
Note 15 - Guarantees, Commitm_2
Note 15 - Guarantees, Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | June 30 , 2019 December 31, 2018 (Dollars in Thousands) Standby letters of credit $ 180 $ 180 Standby performance letters of credit 652 704 Commitments to extend credit $ 102,789 $ 85,972 |
Note 16 - Fair Value of Finan_2
Note 16 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements as of June 30 , 2019 Using Totals At June 30 , 2019 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Investment securities, available-for-sale Mortgage-backed securities: Residential $ 64,267 $ — $ 64,267 $ — Commercial 48,749 — 48,749 — Obligations of states and political subdivisions 4,865 — 4,865 — U.S. Treasury securities 80 — 80 — Fair Value Measurements as of December 31, 2018 Using Totals At December 31, 2018 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Investment securities, available-for-sale Mortgage-backed securities: Residential $ 72,455 $ — $ 72,455 $ — Commercial 54,289 — 54,289 — Obligations of states and political subdivisions 5,664 — 5,664 — U.S. Treasury securities 79 — 79 — |
Fair Value Assets Measured On Nonrecurring Basis [Table Text Block] | Fair Value Measurements as of June 30 , 2019 Using Totals At June 30 , 2019 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Impaired loans $ 355 $ — $ — $ 355 OREO 1,258 — — 1,258 Assets held-for-sale 198 — — 198 Fair Value Measurements as of December 31, 2018 Using Totals At December 31, 2018 Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in Thousands) Impaired loans $ 665 $ — $ — $ 665 OREO 1,505 — — 1,505 Assets held-for-sale 198 — — 198 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Level 3 Significant Unobservable Input Assumptions Fair Value June 30 , 2019 Valuation Technique Unobservable Input Quantitative Range of Unobservable Inputs (Weighted Average) (Dollars in Thousands) Non-recurring fair value measurements: Impaired loans $ 355 Multiple data points, including discount to appraised value of collateral based on recent market activity Appraisal comparability adjustment (discount) 9% - 10% ( 9.5%) OREO $ 1,258 Discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 9% - 10% ( 9.5%) Assets held-for-sale $ 198 Discount to appraised value of property based on recent market activity for sales of similar properties Appraisal comparability adjustment (discount) 9% - 10% ( 9.5%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30 , 2019 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (Dollars in Thousands) Assets: Cash and cash equivalents $ 44,859 $ 44,859 $ 44,859 $ — $ — Investment securities available-for-sale 117,961 117,961 — 117,961 — Investment securities held-to-maturity 18,688 18,574 — 18,574 — Federal funds sold 15,081 15,081 — 15,081 — Federal Home Loan Bank stock 713 713 — — 713 Loans, net of allowance for loan losses 511,515 516,490 — — 516,490 Liabilities: Deposits 682,806 682,865 — 682,865 — Short-term borrowings 73 73 — 73 — December 31, 2018 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 (Dollars in Thousands) Assets: Cash and cash equivalents $ 49,599 $ 49,599 $ 49,599 $ — $ — Investment securities available-for-sale 132,487 132,487 — 132,487 — Investment securities held-to-maturity 21,462 20,852 — 20,852 — Federal funds sold 8,354 8,354 — 8,354 — Federal Home Loan Bank stock 703 703 — — 703 Loans, net of allowance for loan losses 514,867 516,420 — — 516,420 Liabilities: Deposits 704,725 702,832 — 702,832 — Short-term borrowings 527 527 — 527 — |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) | 6 Months Ended |
Jun. 30, 2019 | |
Number of Reportable Segments | 2 |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Operating Lease, Right-of-Use Asset | $ 3,776 | $ 3,776 | ||
Revenue, Remaining Performance Obligation, Amount | 0 | 0 | ||
Operating Lease, Liability, Total | 3,792 | 3,792 | ||
Contract with Customer, Liability, Total | 0 | 0 | ||
Grant [Member] | ||||
Revenues, Total | 800 | 1,600 | ||
Service and Other Charges On Deposit Accounts, Mortgage Fees from Secondary Market Transactions at the Bank, ATM Fee Income and Other Non-Interest Income [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 800 | $ 1,600 | ||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | 3,800 | 3,800 | ||
Operating Lease, Liability, Total | $ 3,800 | $ 3,800 |
Note 2 - Basis of Presentatio_3
Note 2 - Basis of Presentation - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Basic shares (in shares) | 6,423,642 | 6,195,801 | 6,420,653 | 6,192,117 | |
Dilutive shares (in shares) | 427,282 | 378,701 | 427,282 | 378,701 | |
Diluted shares (in shares) | 6,850,924 | 6,574,502 | 6,847,935 | 6,570,818 | |
Net income (loss) | $ 1,005 | $ 359 | $ 359 | $ 2,239 | $ 773 |
Basic net income per share (in dollars per share) | $ 0.16 | $ 0.06 | $ 0.06 | $ 0.35 | $ 0.13 |
Diluted net income per share (in dollars per share) | $ 0.15 | $ 0.06 | $ 0.06 | $ 0.33 | $ 0.12 |
Note 3 - Acquisition Activity_2
Note 3 - Acquisition Activity (Details Textual) $ in Thousands | Aug. 31, 2018USD ($)shares | Sep. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | $ 167,775 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 154,577 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 140,375 | ||||
Goodwill, Ending Balance | 7,435 | $ 7,435 | $ 7,400 | ||
Business Combination, Consideration Transferred, Total | 24,398 | ||||
The Peoples Bank [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 166,531 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 156,772 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 140,033 | ||||
Goodwill, Ending Balance | $ 7,400 | 7,400 | |||
Assets, Fair Value Adjustment | $ 0 | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||
Business Combination, Consideration Transferred, Total | $ 23,400 | ||||
Business Combination, Deductions Multiple | 1.62 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred | $ 400 | ||||
Business Combination, Consideration Transferred, Percent Cash | 90.00% | ||||
Payments to Acquire Businesses, Gross | $ 20,700 | $ 1,400 | |||
Business Combination, Consideration Transferred, Percent Equity Interests | 10.00% | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 204,355 | ||||
Liabilities, Fair Value Adjustment | $ 0 |
Note 3 - Acquisition Activity -
Note 3 - Acquisition Activity - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Aug. 31, 2018 | Jun. 30, 2019 | Dec. 31, 2018 |
Cash and cash equivalents | $ 3,085 | ||
Investment securities, available-for-sale | 5,977 | ||
Federal Home Loan Bank stock, at cost | 565 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 154,577 | ||
Allowance for loan losses | |||
Net loans | 154,577 | ||
Premises and equipment, net | 1,215 | ||
Other real estate owned | 85 | ||
Other assets | 223 | ||
Core deposit intangible | 2,048 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 167,775 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 140,375 | ||
Short-term borrowings | 10,000 | ||
Other liabilities | 437 | ||
Total liabilities assumed | 150,812 | ||
Common stock | |||
Surplus | |||
Accumulated other comprehensive income, net of tax | |||
Retained earnings | |||
Total shareholders’ equity assumed | |||
Total liabilities and shareholders’ equity assumed | 150,812 | ||
Net assets acquired | 16,963 | ||
Business Combination, Consideration Transferred, Total | 24,398 | ||
Goodwill, Ending Balance | 7,435 | $ 7,435 | $ 7,400 |
The Peoples Bank [Member] | |||
Cash and cash equivalents | 3,085 | ||
Investment securities, available-for-sale | 5,977 | ||
Federal Home Loan Bank stock, at cost | 565 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 156,772 | ||
Loans, fair value adjustments | (2,195) | ||
Allowance for loan losses | (1,702) | ||
Allowance for loan losses, fair value adjustments | 1,702 | ||
Net loans | 155,070 | ||
Net loans, fair value adjustments | (493) | ||
Premises and equipment, net | 1,198 | ||
Premises and equipment, net, fair value adjustments | 17 | ||
Other real estate owned | 85 | ||
Other assets | 551 | ||
Other assets, fair value adjustments | (328) | ||
Core deposit intangible | |||
Core deposit intangible, fair value adjustments | 2,048 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 166,531 | ||
Total assets acquired, fair value adjustments | 1,244 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 140,033 | ||
Deposits, fair value adjustments | 342 | ||
Short-term borrowings | 10,000 | ||
Other liabilities | 437 | ||
Total liabilities assumed | 150,470 | ||
Total liabilities assumed, fair value adjustments | 342 | ||
Common stock | 1,027 | ||
Common stock, fair value adjustments | (1,027) | ||
Surplus | 5,280 | ||
Surplus, fair value adjustments | (5,280) | ||
Accumulated other comprehensive income, net of tax | 17 | ||
Accumulated other comprehensive income, net of tax, fair value adjustments | (17) | ||
Retained earnings | 9,737 | ||
Retained earnings, fair value adjustments | (9,737) | ||
Total shareholders’ equity assumed | 16,061 | ||
Total shareholders’ equity assumed, fair value adjustments | (16,061) | ||
Total liabilities and shareholders’ equity assumed | 166,531 | ||
Total liabilities and shareholders’ equity assumed, fair value adjustments | (15,719) | ||
Business Combination, Consideration Transferred, Total | 23,400 | ||
Goodwill, Ending Balance | $ 7,400 | $ 7,400 |
Note 3 - Acquisition Activity_3
Note 3 - Acquisition Activity - Loans Acquired (Details) $ in Thousands | Aug. 31, 2018USD ($) |
Purchased performing loans | $ 151,746 |
Purchased credit impaired loans | 2,831 |
Total purchased loans | 154,577 |
The Peoples Bank [Member] | |
Purchased performing loans | 153,862 |
Purchased performing loans, fair value adjustments | (2,116) |
Purchased credit impaired loans | 2,910 |
Purchased credit impaired loans, fair value adjustments | (79) |
Total purchased loans | 156,772 |
Total purchased loans, fair value adjustments | $ (2,195) |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities (Details Textual) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 137 | 153 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 5 | 21 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Restricted | $ 57,300 | $ 46,700 |
Note 4 - Investment Securitie_3
Note 4 - Investment Securities - Available-for-sale and Held-to-maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale, amortized cost | $ 118,410 | $ 135,656 |
Available-for-sale, gross unrealized gains | 488 | 174 |
Available-for-sale, gross unrealized losses | (937) | (3,343) |
Available-for-sale, estimated fair value | 117,961 | 132,487 |
Held-to-maturity, amortized cost | 18,688 | 21,462 |
Held-to-maturity, gross unrealized gains | 13 | |
Held-to-maturity, gross unrealized losses | (127) | (610) |
Held-to-maturity, estimated fair value | 18,574 | 20,852 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale, amortized cost | 49,306 | 56,101 |
Available-for-sale, gross unrealized gains | 46 | 10 |
Available-for-sale, gross unrealized losses | (603) | (1,822) |
Available-for-sale, estimated fair value | 48,749 | 54,289 |
Held-to-maturity, amortized cost | 10,483 | 11,716 |
Held-to-maturity, gross unrealized gains | ||
Held-to-maturity, gross unrealized losses | (86) | (349) |
Held-to-maturity, estimated fair value | 10,397 | 11,367 |
US Government Agencies Debt Securities [Member] | ||
Held-to-maturity, amortized cost | 6,548 | 8,026 |
Held-to-maturity, gross unrealized gains | ||
Held-to-maturity, gross unrealized losses | (40) | (244) |
Held-to-maturity, estimated fair value | 6,508 | 7,782 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale, amortized cost | 64,271 | 73,859 |
Available-for-sale, gross unrealized gains | 330 | 113 |
Available-for-sale, gross unrealized losses | (334) | (1,517) |
Available-for-sale, estimated fair value | 64,267 | 72,455 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale, amortized cost | 4,754 | 5,617 |
Available-for-sale, gross unrealized gains | 111 | 51 |
Available-for-sale, gross unrealized losses | (4) | |
Available-for-sale, estimated fair value | 4,865 | 5,664 |
Held-to-maturity, amortized cost | 1,657 | 1,720 |
Held-to-maturity, gross unrealized gains | 13 | |
Held-to-maturity, gross unrealized losses | (1) | (17) |
Held-to-maturity, estimated fair value | 1,669 | 1,703 |
US Treasury Securities [Member] | ||
Available-for-sale, amortized cost | 79 | 79 |
Available-for-sale, gross unrealized gains | 1 | |
Available-for-sale, gross unrealized losses | ||
Available-for-sale, estimated fair value | $ 80 | $ 79 |
Note 4 - Investment Securitie_4
Note 4 - Investment Securities - Scheduled Maturities of Investment Securities Available-for-sale and Held-to-maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale, maturing within one year, amortized cost | $ 259 | |
Available-for-sale, maturing within one year, estimated fair value | 261 | |
Held-to-maturity, maturing within one year, amortized cost | 122 | |
Held-to-maturity, maturing within one year, estimated fair value | 122 | |
Available-for-sale, maturing after one to five years, amortized cost | 34,821 | |
Available-for-sale, maturing after one to five years, estimated fair value | 34,766 | |
Held-to-maturity, maturing after one to five years, amortized cost | 3,397 | |
Held-to-maturity, maturing after one to five years, estimated fair value | 3,400 | |
Available-for-sale, maturing after five to ten years, amortized cost | 47,803 | |
Available-for-sale, maturing after five to ten years, estimated fair value | 47,686 | |
Held-to-maturity, maturing after five to ten years, amortized cost | 6,176 | |
Held-to-maturity, maturity after five to ten years, estimated fair value | 6,113 | |
Available-for-sale, maturing after ten years, amortized cost | 35,527 | |
Available-for-sale, maturing after ten years, estimated fair value | 35,248 | |
Held-to-maturity, maturing after ten years, amortized cost | 8,993 | |
Held-to-maturity, maturing after ten years, estimated fair value | 8,939 | |
Available-for-sale, amortized cost | 118,410 | $ 135,656 |
Available-for-sale, estimated fair value | 117,961 | 132,487 |
Held-to-maturity, amortized cost | 18,688 | 21,462 |
Held-to-maturity, estimated fair value | $ 18,574 | $ 20,852 |
Note 4 - Investment Securitie_5
Note 4 - Investment Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Available-for-sale, less than 12 months, fair value | $ 262 | $ 10,836 |
Available-for-sale, less than 12 months, unrealized losses | (92) | |
Available-for-sale, 12 months or more, fair value | 81,874 | 107,357 |
Available-for-sale, 12 months or more, unrealized losses | (937) | (3,251) |
Held-to-maturity, less than 12 months, fair value | 770 | |
Held-to-maturity, less than 12 months, unrealized losses | ||
Held-to-maturity, 12 months or more, fair value | 17,291 | 20,082 |
Held-to-maturity, 12 months or more, unrealized losses | (127) | (610) |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale, less than 12 months, fair value | 180 | 9,417 |
Available-for-sale, less than 12 months, unrealized losses | (87) | |
Available-for-sale, 12 months or more, fair value | 40,760 | 53,507 |
Available-for-sale, 12 months or more, unrealized losses | (334) | (1,430) |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale, less than 12 months, fair value | 2 | 461 |
Available-for-sale, less than 12 months, unrealized losses | (3) | |
Available-for-sale, 12 months or more, fair value | 41,114 | 53,430 |
Available-for-sale, 12 months or more, unrealized losses | (603) | (1,819) |
Held-to-maturity, less than 12 months, fair value | ||
Held-to-maturity, less than 12 months, unrealized losses | ||
Held-to-maturity, 12 months or more, fair value | 10,397 | 11,367 |
Held-to-maturity, 12 months or more, unrealized losses | (86) | (349) |
US Government Agencies Debt Securities [Member] | ||
Held-to-maturity, less than 12 months, fair value | ||
Held-to-maturity, less than 12 months, unrealized losses | ||
Held-to-maturity, 12 months or more, fair value | 6,386 | 7,782 |
Held-to-maturity, 12 months or more, unrealized losses | (40) | (244) |
US Treasury Securities [Member] | ||
Available-for-sale, less than 12 months, fair value | 80 | 79 |
Available-for-sale, less than 12 months, unrealized losses | ||
Available-for-sale, 12 months or more, fair value | ||
Available-for-sale, 12 months or more, unrealized losses | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale, less than 12 months, fair value | 879 | |
Available-for-sale, less than 12 months, unrealized losses | (2) | |
Available-for-sale, 12 months or more, fair value | 420 | |
Available-for-sale, 12 months or more, unrealized losses | (2) | |
Held-to-maturity, less than 12 months, fair value | 770 | |
Held-to-maturity, less than 12 months, unrealized losses | ||
Held-to-maturity, 12 months or more, fair value | 508 | 933 |
Held-to-maturity, 12 months or more, unrealized losses | $ (1) | $ (17) |
Note 5 - Loans and Allowance _3
Note 5 - Loans and Allowance for Loan Losses (Details Textual) $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | Mar. 31, 2019USD ($) | Aug. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Number of Portfolio Segments | 9 | ||||
Loans Pledged as Collateral | $ 36,900 | $ 27,000 | |||
Loans and Leases Receivable, Related Parties, Ending Balance | 900 | 800 | |||
Loans and Leases Receivable, Related Parties, Additions | 100 | 500 | |||
Loans and Leases Receivable, Related Parties, Proceeds | 5 | 200 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance, Total | $ 2,900 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 2,831 | ||||
Certain Loans Acquired in Transfer, Accretable Yield | 0 | 0 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | $ 0 | ||||
Loans and Leases Receivable, Gross, Total | 522,260 | 525,870 | |||
Financing Receivable, Nonaccrual | 1,479 | 2,759 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,793 | 708 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 10 | 44 | |||
Interest Income Recorded | 8 | 27 | |||
Financing Receivable, Troubled Debt Restructuring | 0 | 0 | |||
Financing Receivable, Restructuring Recorded Investment With Nonaccrual Status | $ 22 | $ 65 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | |||
Loans Modified in a Troubled Debt Restructuring, Individually Evaluated for Impairment, Principal Balance, Threshold | $ 500 | ||||
Loans and Leases Receivable, Allowance, Ending Balance | 5,087 | $ 5,055 | $ 4,774 | ||
Restructured Loan [Member] | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 2 | 2 | |||
ALC [Member] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 200 | 200 | |||
Minimum [Member] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 500 | ||||
Minimum [Member] | ALC [Member] | |||||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 50 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | |||||
Loans and Leases Receivable, Gross, Total | 170 | 497 | |||
Financing Receivable, Nonaccrual | 200 | 500 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 200 | 500 | |||
Loans and Leases Receivable, Allowance, Ending Balance | |||||
Financial Asset Acquired with Credit Deterioration [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||||
Loans and Leases Receivable, Gross, Total | 7 | 300 | |||
Financial Asset Acquired with Credit Deterioration [Member] | Substandard [Member] | |||||
Loans and Leases Receivable, Gross, Total | $ 200 | $ 500 | |||
Real Estate [Member] | |||||
Percentage of Loan Portfolio | 61.00% | 63.20% |
Note 5 - Loans and Allowance _4
Note 5 - Loans and Allowance for Loan Losses - Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Loans | $ 522,260 | $ 525,870 | |||
Less: Unearned interest, fees and deferred cost | 5,658 | 5,948 | |||
Loans, allowance for loan losses | 5,087 | 5,055 | $ 4,774 | ||
Net loans | 511,515 | 514,867 | $ 355,529 | ||
FUSB [Member] | |||||
Loans | 410,717 | 417,496 | |||
Less: Unearned interest, fees and deferred cost | 411 | 331 | |||
Loans, allowance for loan losses | 2,798 | 2,735 | 2,447 | ||
Net loans | 407,508 | 414,430 | |||
ALC [Member] | |||||
Loans | 111,543 | 108,374 | |||
Less: Unearned interest, fees and deferred cost | 5,247 | 5,617 | |||
Loans, allowance for loan losses | 2,289 | 2,320 | 2,327 | ||
Net loans | 104,007 | 100,437 | |||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | |||||
Loans | 27,521 | 41,340 | |||
Loans, allowance for loan losses | 190 | 240 | 203 | ||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | FUSB [Member] | |||||
Loans | 27,521 | 41,340 | |||
Loans, allowance for loan losses | 190 | 240 | 203 | ||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ALC [Member] | |||||
Loans | |||||
Loans, allowance for loan losses | |||||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | |||||
Loans | 103,354 | 110,756 | |||
Loans, allowance for loan losses | 389 | 346 | 290 | ||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | FUSB [Member] | |||||
Loans | 96,805 | 102,971 | |||
Loans, allowance for loan losses | 361 | 322 | 238 | ||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ALC [Member] | |||||
Loans | 6,549 | 7,785 | |||
Loans, allowance for loan losses | 28 | 24 | 52 | ||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | |||||
Loans | 28,033 | 23,009 | |||
Loans, allowance for loan losses | 166 | 128 | 116 | ||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | FUSB [Member] | |||||
Loans | 28,033 | 23,009 | |||
Loans, allowance for loan losses | 166 | 128 | 116 | ||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ALC [Member] | |||||
Loans | |||||
Loans, allowance for loan losses | |||||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | |||||
Loans | 158,748 | 156,162 | |||
Loans, allowance for loan losses | 809 | 831 | 777 | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | FUSB [Member] | |||||
Loans | 158,748 | 156,162 | |||
Loans, allowance for loan losses | 809 | 831 | 777 | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ALC [Member] | |||||
Loans | |||||
Loans, allowance for loan losses | |||||
Real Estate [Member] | Other Real Estate Loans [Member] | |||||
Loans | 880 | 1,308 | |||
Loans, allowance for loan losses | 1 | 1 | 2 | ||
Real Estate [Member] | Other Real Estate Loans [Member] | FUSB [Member] | |||||
Loans | 880 | 1,308 | |||
Loans, allowance for loan losses | 1 | 1 | 2 | ||
Real Estate [Member] | Other Real Estate Loans [Member] | ALC [Member] | |||||
Loans | |||||
Loans, allowance for loan losses | |||||
Commercial and Industrial Loans [Member] | |||||
Loans | [1] | 91,489 | 85,779 | ||
Loans, allowance for loan losses | 1,204 | 1,138 | 1,049 | ||
Commercial and Industrial Loans [Member] | FUSB [Member] | |||||
Loans | [1] | 91,489 | 85,779 | ||
Loans, allowance for loan losses | 1,204 | 1,138 | 1,049 | ||
Commercial and Industrial Loans [Member] | ALC [Member] | |||||
Loans | [1] | ||||
Loans, allowance for loan losses | |||||
Consumer Portfolio Segment [Member] | FUSB [Member] | |||||
Loans | 7,241 | 6,927 | |||
Consumer Portfolio Segment [Member] | Consumer Loans [Member] | |||||
Loans | 37,160 | 38,583 | |||
Loans, allowance for loan losses | 1,689 | 1,799 | 1,715 | ||
Consumer Portfolio Segment [Member] | Consumer Loans [Member] | FUSB [Member] | |||||
Loans | 7,241 | 6,927 | |||
Loans, allowance for loan losses | 67 | 75 | 62 | ||
Consumer Portfolio Segment [Member] | Consumer Loans [Member] | ALC [Member] | |||||
Loans | 29,919 | 31,656 | |||
Loans, allowance for loan losses | 1,622 | 1,724 | 1,653 | ||
Consumer Portfolio Segment [Member] | Branch Retail [Member] | |||||
Loans | 29,609 | 28,324 | |||
Loans, allowance for loan losses | 436 | 427 | 393 | ||
Consumer Portfolio Segment [Member] | Branch Retail [Member] | FUSB [Member] | |||||
Loans | |||||
Loans, allowance for loan losses | |||||
Consumer Portfolio Segment [Member] | Branch Retail [Member] | ALC [Member] | |||||
Loans | 29,609 | 28,324 | |||
Loans, allowance for loan losses | 436 | 427 | 393 | ||
Consumer Portfolio Segment [Member] | Indirect Sales [Member] | |||||
Loans | 45,466 | 40,609 | |||
Loans, allowance for loan losses | 203 | 145 | 229 | ||
Consumer Portfolio Segment [Member] | Indirect Sales [Member] | FUSB [Member] | |||||
Loans | |||||
Loans, allowance for loan losses | |||||
Consumer Portfolio Segment [Member] | Indirect Sales [Member] | ALC [Member] | |||||
Loans | 45,466 | 40,609 | |||
Loans, allowance for loan losses | $ 203 | $ 145 | $ 229 | ||
[1] | Includes equipment financing leases. |
Note 5 - Loans and Allowance _5
Note 5 - Loans and Allowance for Loan Losses - Acquired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Outstanding balance | $ 236 | $ 567 |
Fair value adjustment | (66) | (70) |
Carrying amount, net of fair value adjustment | 170 | 497 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Outstanding balance | 75 | |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Outstanding balance | $ 236 | $ 492 |
Note 5 - Loans and Allowance _6
Note 5 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | ||
Beginning balance | $ 5,055 | $ 4,774 | $ 4,774 | ||||||
Charge-offs | (1,496) | (3,117) | |||||||
Recoveries | 413 | 776 | |||||||
Provision for loan losses | $ 715 | $ 702 | $ 702 | 1,115 | 1,360 | 2,622 | |||
Ending balance | 5,087 | 5,087 | 5,055 | ||||||
Allowance for loan losses individually evaluated for impairment | $ 188 | $ 166 | |||||||
Allowance for loan losses collectively evaluated for impairment | 4,899 | 4,889 | |||||||
Loans, allowance for loan losses | 5,087 | 5,087 | 4,774 | 5,055 | 5,087 | 5,055 | |||
Loans individually evaluated for impairment | 2,166 | 1,042 | |||||||
Loans collectively evaluated for impairment | 519,924 | 524,331 | |||||||
Loans | 522,260 | 525,870 | |||||||
Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | 170 | 497 | |||||||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | |||||||||
Beginning balance | 240 | 203 | 203 | ||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | (50) | 37 | |||||||
Ending balance | 190 | 190 | 240 | ||||||
Allowance for loan losses individually evaluated for impairment | 95 | 28 | |||||||
Allowance for loan losses collectively evaluated for impairment | 95 | 212 | |||||||
Loans, allowance for loan losses | 190 | 240 | 203 | 240 | 190 | 240 | |||
Loans individually evaluated for impairment | 421 | 153 | |||||||
Loans collectively evaluated for impairment | 27,100 | 41,114 | |||||||
Loans | 27,521 | 41,340 | |||||||
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | 73 | ||||||||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | |||||||||
Beginning balance | 346 | 290 | 290 | ||||||
Charge-offs | (77) | (101) | |||||||
Recoveries | 15 | 74 | |||||||
Provision for loan losses | 105 | 83 | |||||||
Ending balance | 389 | 389 | 346 | ||||||
Allowance for loan losses individually evaluated for impairment | 16 | 50 | |||||||
Allowance for loan losses collectively evaluated for impairment | 373 | 296 | |||||||
Loans, allowance for loan losses | 389 | 346 | 290 | 346 | 389 | 346 | |||
Loans individually evaluated for impairment | 1,141 | 268 | |||||||
Loans collectively evaluated for impairment | 102,043 | 110,064 | |||||||
Loans | 103,354 | 110,756 | |||||||
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | 170 | 424 | |||||||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | |||||||||
Beginning balance | 128 | 116 | 116 | ||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | 38 | 12 | |||||||
Ending balance | 166 | 166 | 128 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 166 | 128 | |||||||
Loans, allowance for loan losses | 166 | 128 | 116 | 128 | 166 | 128 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 28,033 | 23,009 | |||||||
Loans | 28,033 | 23,009 | |||||||
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | |||||||||
Beginning balance | 831 | 777 | 777 | ||||||
Charge-offs | |||||||||
Recoveries | 4 | ||||||||
Provision for loan losses | (22) | 50 | |||||||
Ending balance | 809 | 809 | 831 | ||||||
Allowance for loan losses individually evaluated for impairment | 1 | ||||||||
Allowance for loan losses collectively evaluated for impairment | 809 | 830 | |||||||
Loans, allowance for loan losses | 809 | 831 | 777 | 831 | 809 | 831 | |||
Loans individually evaluated for impairment | 504 | 511 | |||||||
Loans collectively evaluated for impairment | 158,244 | 155,651 | |||||||
Loans | 158,748 | 156,162 | |||||||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
Real Estate [Member] | Other Real Estate Loans [Member] | |||||||||
Beginning balance | 1 | 2 | 2 | ||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | (1) | ||||||||
Ending balance | 1 | 1 | 1 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 1 | 1 | |||||||
Loans, allowance for loan losses | 1 | 1 | 2 | 1 | 1 | 1 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 880 | 1,308 | |||||||
Loans | 880 | 1,308 | |||||||
Real Estate [Member] | Other Real Estate Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
Commercial and Industrial Loans [Member] | |||||||||
Beginning balance | 1,138 | 1,049 | 1,049 | ||||||
Charge-offs | (3) | ||||||||
Recoveries | 3 | 11 | |||||||
Provision for loan losses | 63 | 81 | |||||||
Ending balance | 1,204 | 1,204 | 1,138 | ||||||
Allowance for loan losses individually evaluated for impairment | 65 | 67 | |||||||
Allowance for loan losses collectively evaluated for impairment | 1,139 | 1,071 | |||||||
Loans, allowance for loan losses | 1,204 | 1,138 | 1,049 | 1,138 | 1,204 | 1,138 | |||
Loans individually evaluated for impairment | 65 | 67 | |||||||
Loans collectively evaluated for impairment | 91,424 | 85,712 | |||||||
Loans | [1] | 91,489 | 85,779 | ||||||
Commercial and Industrial Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
Consumer Portfolio Segment [Member] | Consumer Loans [Member] | |||||||||
Beginning balance | 1,799 | 1,715 | 1,715 | ||||||
Charge-offs | (1,090) | (2,482) | |||||||
Recoveries | 334 | 568 | |||||||
Provision for loan losses | 646 | 1,998 | |||||||
Ending balance | 1,689 | 1,689 | 1,799 | ||||||
Allowance for loan losses individually evaluated for impairment | 12 | 20 | |||||||
Allowance for loan losses collectively evaluated for impairment | 1,677 | 1,779 | |||||||
Loans, allowance for loan losses | 1,689 | 1,799 | 1,715 | 1,799 | 1,689 | 1,799 | |||
Loans individually evaluated for impairment | 35 | 43 | |||||||
Loans collectively evaluated for impairment | 37,125 | 38,540 | |||||||
Loans | 37,160 | 38,583 | |||||||
Consumer Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
Consumer Portfolio Segment [Member] | Branch Retail [Member] | |||||||||
Beginning balance | 427 | 393 | 393 | ||||||
Charge-offs | (201) | (415) | |||||||
Recoveries | 59 | 113 | |||||||
Provision for loan losses | 151 | 336 | |||||||
Ending balance | 436 | 436 | 427 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 436 | 427 | |||||||
Loans, allowance for loan losses | 436 | 427 | 393 | 427 | 436 | 427 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 29,609 | 28,324 | |||||||
Loans | 29,609 | 28,324 | |||||||
Consumer Portfolio Segment [Member] | Branch Retail [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
Consumer Portfolio Segment [Member] | Indirect Sales [Member] | |||||||||
Beginning balance | 145 | 229 | 229 | ||||||
Charge-offs | (128) | (116) | |||||||
Recoveries | 2 | 6 | |||||||
Provision for loan losses | 184 | 26 | |||||||
Ending balance | 203 | 203 | 145 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 203 | 145 | |||||||
Loans, allowance for loan losses | 203 | 145 | 229 | 145 | 203 | 145 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 45,466 | 40,609 | |||||||
Loans | 45,466 | 40,609 | |||||||
Consumer Portfolio Segment [Member] | Indirect Sales [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
FUSB [Member] | |||||||||
Beginning balance | 2,735 | 2,447 | 2,447 | ||||||
Charge-offs | (62) | (16) | |||||||
Recoveries | 35 | 89 | |||||||
Provision for loan losses | 90 | 215 | |||||||
Ending balance | 2,798 | 2,798 | 2,735 | ||||||
Allowance for loan losses individually evaluated for impairment | 188 | 166 | |||||||
Allowance for loan losses collectively evaluated for impairment | 2,610 | 2,569 | |||||||
Loans, allowance for loan losses | 2,798 | 2,798 | 2,447 | 2,735 | 2,798 | 2,735 | |||
Loans individually evaluated for impairment | 1,972 | 831 | |||||||
Loans collectively evaluated for impairment | 408,575 | 416,168 | |||||||
Loans | 410,717 | 417,496 | |||||||
FUSB [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | 170 | 497 | |||||||
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | |||||||||
Beginning balance | 240 | 203 | 203 | ||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | (50) | 37 | |||||||
Ending balance | 190 | 190 | 240 | ||||||
Allowance for loan losses individually evaluated for impairment | 95 | 28 | |||||||
Allowance for loan losses collectively evaluated for impairment | 95 | 212 | |||||||
Loans, allowance for loan losses | 190 | 240 | 203 | 240 | 190 | 240 | |||
Loans individually evaluated for impairment | 421 | 153 | |||||||
Loans collectively evaluated for impairment | 27,100 | 41,114 | |||||||
Loans | 27,521 | 41,340 | |||||||
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | 73 | ||||||||
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | |||||||||
Beginning balance | 322 | 238 | 238 | ||||||
Charge-offs | (47) | (9) | |||||||
Recoveries | 9 | 51 | |||||||
Provision for loan losses | 77 | 42 | |||||||
Ending balance | 361 | 361 | 322 | ||||||
Allowance for loan losses individually evaluated for impairment | 16 | 50 | |||||||
Allowance for loan losses collectively evaluated for impairment | 345 | 272 | |||||||
Loans, allowance for loan losses | 361 | 322 | 238 | 322 | 361 | 322 | |||
Loans individually evaluated for impairment | 947 | 57 | |||||||
Loans collectively evaluated for impairment | 95,688 | 102,490 | |||||||
Loans | 96,805 | 102,971 | |||||||
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | 170 | 424 | |||||||
FUSB [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | |||||||||
Beginning balance | 128 | 116 | 116 | ||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | 38 | 12 | |||||||
Ending balance | 166 | 166 | 128 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 166 | 128 | |||||||
Loans, allowance for loan losses | 166 | 128 | 116 | 128 | 166 | 128 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 28,033 | 23,009 | |||||||
Loans | 28,033 | 23,009 | |||||||
FUSB [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | |||||||||
Beginning balance | 831 | 777 | 777 | ||||||
Charge-offs | |||||||||
Recoveries | 4 | ||||||||
Provision for loan losses | (22) | 50 | |||||||
Ending balance | 809 | 809 | 831 | ||||||
Allowance for loan losses individually evaluated for impairment | 1 | ||||||||
Allowance for loan losses collectively evaluated for impairment | 809 | 830 | |||||||
Loans, allowance for loan losses | 809 | 831 | 777 | 831 | 809 | 831 | |||
Loans individually evaluated for impairment | 504 | 511 | |||||||
Loans collectively evaluated for impairment | 158,244 | 155,651 | |||||||
Loans | 158,748 | 156,162 | |||||||
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | |||||||||
Beginning balance | 1 | 2 | 2 | ||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | (1) | ||||||||
Ending balance | 1 | 1 | 1 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 1 | 1 | |||||||
Loans, allowance for loan losses | 1 | 1 | 2 | 1 | 1 | 1 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 880 | 1,308 | |||||||
Loans | 880 | 1,308 | |||||||
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
FUSB [Member] | Commercial and Industrial Loans [Member] | |||||||||
Beginning balance | 1,138 | 1,049 | 1,049 | ||||||
Charge-offs | (3) | ||||||||
Recoveries | 3 | 11 | |||||||
Provision for loan losses | 63 | 81 | |||||||
Ending balance | 1,204 | 1,204 | 1,138 | ||||||
Allowance for loan losses individually evaluated for impairment | 65 | 67 | |||||||
Allowance for loan losses collectively evaluated for impairment | 1,139 | 1,071 | |||||||
Loans, allowance for loan losses | 1,204 | 1,138 | 1,049 | 1,138 | 1,204 | 1,138 | |||
Loans individually evaluated for impairment | 65 | 67 | |||||||
Loans collectively evaluated for impairment | 91,424 | 85,712 | |||||||
Loans | [1] | 91,489 | 85,779 | ||||||
FUSB [Member] | Commercial and Industrial Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
FUSB [Member] | Consumer Portfolio Segment [Member] | |||||||||
Loans | 7,241 | 6,927 | |||||||
FUSB [Member] | Consumer Portfolio Segment [Member] | Consumer Loans [Member] | |||||||||
Beginning balance | 75 | 62 | 62 | ||||||
Charge-offs | (15) | (4) | |||||||
Recoveries | 23 | 23 | |||||||
Provision for loan losses | (16) | (6) | |||||||
Ending balance | 67 | 67 | 75 | ||||||
Allowance for loan losses individually evaluated for impairment | 12 | 20 | |||||||
Allowance for loan losses collectively evaluated for impairment | 55 | 55 | |||||||
Loans, allowance for loan losses | 67 | 75 | 62 | 75 | 67 | 75 | |||
Loans individually evaluated for impairment | 35 | 43 | |||||||
Loans collectively evaluated for impairment | 7,206 | 6,884 | |||||||
Loans | 7,241 | 6,927 | |||||||
FUSB [Member] | Consumer Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
FUSB [Member] | Consumer Portfolio Segment [Member] | Branch Retail [Member] | |||||||||
Beginning balance | |||||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | |||||||||
Ending balance | |||||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | |||||||||
Loans, allowance for loan losses | |||||||||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | |||||||||
Loans | |||||||||
FUSB [Member] | Consumer Portfolio Segment [Member] | Branch Retail [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
FUSB [Member] | Consumer Portfolio Segment [Member] | Indirect Sales [Member] | |||||||||
Beginning balance | |||||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | |||||||||
Ending balance | |||||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | |||||||||
Loans, allowance for loan losses | |||||||||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | |||||||||
Loans | |||||||||
FUSB [Member] | Consumer Portfolio Segment [Member] | Indirect Sales [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||||
Beginning balance | |||||||||
Ending balance | |||||||||
Loans, allowance for loan losses | |||||||||
Loans | |||||||||
ALC [Member] | |||||||||
Beginning balance | 2,320 | 2,327 | 2,327 | ||||||
Charge-offs | (1,434) | (3,101) | |||||||
Recoveries | 378 | 687 | |||||||
Provision for loan losses | 1,025 | 2,407 | |||||||
Ending balance | 2,289 | 2,289 | 2,320 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 2,289 | 2,320 | |||||||
Loans, allowance for loan losses | 2,289 | 2,289 | 2,327 | 2,320 | 2,289 | 2,320 | |||
Loans individually evaluated for impairment | 194 | 211 | |||||||
Loans collectively evaluated for impairment | 111,349 | 108,163 | |||||||
Loans | 111,543 | 108,374 | |||||||
ALC [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | |||||||||
Beginning balance | |||||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | |||||||||
Ending balance | |||||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | |||||||||
Loans, allowance for loan losses | |||||||||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | |||||||||
Loans | |||||||||
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | |||||||||
Beginning balance | 24 | 52 | 52 | ||||||
Charge-offs | (30) | (92) | |||||||
Recoveries | 6 | 23 | |||||||
Provision for loan losses | 28 | 41 | |||||||
Ending balance | 28 | 28 | 24 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 28 | 24 | |||||||
Loans, allowance for loan losses | 28 | 24 | 52 | 24 | 28 | 24 | |||
Loans individually evaluated for impairment | 194 | 211 | |||||||
Loans collectively evaluated for impairment | 6,355 | 7,574 | |||||||
Loans | 6,549 | 7,785 | |||||||
ALC [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | |||||||||
Beginning balance | |||||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | |||||||||
Ending balance | |||||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | |||||||||
Loans, allowance for loan losses | |||||||||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | |||||||||
Loans | |||||||||
ALC [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | |||||||||
Beginning balance | |||||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | |||||||||
Ending balance | |||||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | |||||||||
Loans, allowance for loan losses | |||||||||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | |||||||||
Loans | |||||||||
ALC [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | |||||||||
Beginning balance | |||||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | |||||||||
Ending balance | |||||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | |||||||||
Loans, allowance for loan losses | |||||||||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | |||||||||
Loans | |||||||||
ALC [Member] | Commercial and Industrial Loans [Member] | |||||||||
Beginning balance | |||||||||
Charge-offs | |||||||||
Recoveries | |||||||||
Provision for loan losses | |||||||||
Ending balance | |||||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | |||||||||
Loans, allowance for loan losses | |||||||||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | |||||||||
Loans | [1] | ||||||||
ALC [Member] | Consumer Portfolio Segment [Member] | Consumer Loans [Member] | |||||||||
Beginning balance | 1,724 | 1,653 | 1,653 | ||||||
Charge-offs | (1,075) | (2,478) | |||||||
Recoveries | 311 | 545 | |||||||
Provision for loan losses | 662 | 2,004 | |||||||
Ending balance | 1,622 | 1,622 | 1,724 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 1,622 | 1,724 | |||||||
Loans, allowance for loan losses | 1,622 | 1,724 | 1,653 | 1,724 | 1,622 | 1,724 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 29,919 | 31,656 | |||||||
Loans | 29,919 | 31,656 | |||||||
ALC [Member] | Consumer Portfolio Segment [Member] | Branch Retail [Member] | |||||||||
Beginning balance | 427 | 393 | 393 | ||||||
Charge-offs | (201) | (415) | |||||||
Recoveries | 59 | 113 | |||||||
Provision for loan losses | 151 | 336 | |||||||
Ending balance | 436 | 436 | 427 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 436 | 427 | |||||||
Loans, allowance for loan losses | 436 | 427 | 393 | 427 | 436 | 427 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 29,609 | 28,324 | |||||||
Loans | 29,609 | 28,324 | |||||||
ALC [Member] | Consumer Portfolio Segment [Member] | Indirect Sales [Member] | |||||||||
Beginning balance | 145 | 229 | 229 | ||||||
Charge-offs | (128) | (116) | |||||||
Recoveries | 2 | 6 | |||||||
Provision for loan losses | 184 | 26 | |||||||
Ending balance | 203 | 203 | 145 | ||||||
Allowance for loan losses individually evaluated for impairment | |||||||||
Allowance for loan losses collectively evaluated for impairment | 203 | 145 | |||||||
Loans, allowance for loan losses | $ 203 | $ 145 | $ 229 | $ 145 | 203 | 145 | |||
Loans individually evaluated for impairment | |||||||||
Loans collectively evaluated for impairment | 45,466 | 40,609 | |||||||
Loans | $ 45,466 | $ 40,609 | |||||||
[1] | Includes equipment financing leases. |
Note 5 - Loans and Allowance _7
Note 5 - Loans and Allowance for Loan Losses - Loans By Credit Quality Indicator (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | |
Loans | $ 522,260 | $ 525,870 | |
FUSB [Member] | |||
Loans | 410,717 | 417,496 | |
FUSB [Member] | Pass [Member] | |||
Loans | 402,937 | 408,188 | |
FUSB [Member] | Special Mention [Member] | |||
Loans | 4,328 | 5,041 | |
FUSB [Member] | Substandard [Member] | |||
Loans | 3,452 | 4,267 | |
FUSB [Member] | Doubtful [Member] | |||
Loans | 410,717 | 417,496 | |
ALC [Member] | |||
Loans | 111,543 | 108,374 | |
ALC [Member] | Performing Financial Instruments [Member] | |||
Loans | 110,706 | 107,145 | |
ALC [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 837 | 1,229 | |
Consumer Portfolio Segment [Member] | FUSB [Member] | |||
Loans | 7,241 | 6,927 | |
Consumer Portfolio Segment [Member] | FUSB [Member] | Pass [Member] | |||
Loans | 7,178 | 6,848 | |
Consumer Portfolio Segment [Member] | FUSB [Member] | Special Mention [Member] | |||
Loans | |||
Consumer Portfolio Segment [Member] | FUSB [Member] | Substandard [Member] | |||
Loans | 63 | 79 | |
Consumer Portfolio Segment [Member] | FUSB [Member] | Doubtful [Member] | |||
Loans | 7,241 | 6,927 | |
Commercial and Industrial Loans [Member] | |||
Loans | [1] | 91,489 | 85,779 |
Commercial and Industrial Loans [Member] | FUSB [Member] | |||
Loans | [1] | 91,489 | 85,779 |
Commercial and Industrial Loans [Member] | FUSB [Member] | Pass [Member] | |||
Loans | 89,418 | 83,261 | |
Commercial and Industrial Loans [Member] | FUSB [Member] | Special Mention [Member] | |||
Loans | 1,925 | 1,977 | |
Commercial and Industrial Loans [Member] | FUSB [Member] | Substandard [Member] | |||
Loans | 146 | 541 | |
Commercial and Industrial Loans [Member] | FUSB [Member] | Doubtful [Member] | |||
Loans | 91,489 | 85,779 | |
Commercial and Industrial Loans [Member] | ALC [Member] | |||
Loans | [1] | ||
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | |||
Loans | 27,521 | 41,340 | |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | |||
Loans | 27,521 | 41,340 | |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | |||
Loans | 27,034 | 40,200 | |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | |||
Loans | 340 | 914 | |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | |||
Loans | 147 | 226 | |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | |||
Loans | 27,521 | 41,340 | |
Construction, Land Development and Other Land Loans [Member] | Real Estate [Member] | ALC [Member] | |||
Loans | |||
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | |||
Loans | 103,354 | 110,756 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | |||
Loans | 96,805 | 102,971 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | |||
Loans | 94,586 | 100,485 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | |||
Loans | 152 | 154 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | |||
Loans | 2,067 | 2,332 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | |||
Loans | 96,805 | 102,971 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | ALC [Member] | |||
Loans | 6,549 | 7,785 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | ALC [Member] | Performing Financial Instruments [Member] | |||
Loans | 6,438 | 7,657 | |
Secured by 1-4 Family Residential Properties [Member] | Real Estate [Member] | ALC [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 111 | 128 | |
Consumer Loans [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 37,160 | 38,583 | |
Consumer Loans [Member] | Consumer Portfolio Segment [Member] | FUSB [Member] | |||
Loans | 7,241 | 6,927 | |
Consumer Loans [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | |||
Loans | 29,919 | 31,656 | |
Consumer Loans [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | Performing Financial Instruments [Member] | |||
Loans | 29,409 | 30,826 | |
Consumer Loans [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 510 | 830 | |
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | |||
Loans | 28,033 | 23,009 | |
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | |||
Loans | 28,033 | 23,009 | |
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | |||
Loans | 28,033 | 23,009 | |
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | |||
Loans | |||
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | |||
Loans | |||
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | |||
Loans | 28,033 | 23,009 | |
Secured by Multi-family Residential Properties [Member] | Real Estate [Member] | ALC [Member] | |||
Loans | |||
Branch Retail [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 29,609 | 28,324 | |
Branch Retail [Member] | Consumer Portfolio Segment [Member] | FUSB [Member] | |||
Loans | |||
Branch Retail [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | |||
Loans | 29,609 | 28,324 | |
Branch Retail [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | Performing Financial Instruments [Member] | |||
Loans | 29,499 | 28,171 | |
Branch Retail [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 110 | 153 | |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | |||
Loans | 158,748 | 156,162 | |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | |||
Loans | 158,748 | 156,162 | |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | |||
Loans | 155,808 | 153,077 | |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | |||
Loans | 1,911 | 1,996 | |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | |||
Loans | 1,029 | 1,089 | |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | |||
Loans | 158,748 | 156,162 | |
Secured by Non-farm, Non-residential Properties [Member] | Real Estate [Member] | ALC [Member] | |||
Loans | |||
Indirect Sales [Member] | Consumer Portfolio Segment [Member] | |||
Loans | 45,466 | 40,609 | |
Indirect Sales [Member] | Consumer Portfolio Segment [Member] | FUSB [Member] | |||
Loans | |||
Indirect Sales [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | |||
Loans | 45,466 | 40,609 | |
Indirect Sales [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | Performing Financial Instruments [Member] | |||
Loans | 45,360 | 40,491 | |
Indirect Sales [Member] | Consumer Portfolio Segment [Member] | ALC [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 106 | 118 | |
Other Real Estate Loans [Member] | Real Estate [Member] | |||
Loans | 880 | 1,308 | |
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | |||
Loans | 880 | 1,308 | |
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | Pass [Member] | |||
Loans | 880 | 1,308 | |
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | Special Mention [Member] | |||
Loans | |||
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | Substandard [Member] | |||
Loans | |||
Other Real Estate Loans [Member] | Real Estate [Member] | FUSB [Member] | Doubtful [Member] | |||
Loans | 880 | 1,308 | |
Other Real Estate Loans [Member] | Real Estate [Member] | ALC [Member] | |||
Loans | |||
[1] | Includes equipment financing leases. |
Note 5 - Loans and Allowance _8
Note 5 - Loans and Allowance for Loan Losses - Aging Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | |
Loans | $ 522,260 | $ 525,870 | |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | |||
Loans | 27,521 | 41,340 | |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | |||
Loans | 103,354 | 110,756 | |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | |||
Loans | 28,033 | 23,009 | |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | |||
Loans | 158,748 | 156,162 | |
Real Estate [Member] | Other Real Estate Loans [Member] | |||
Loans | 880 | 1,308 | |
Commercial and Industrial Loans [Member] | |||
Loans | [1] | 91,489 | 85,779 |
Consumer Portfolio Segment [Member] | Consumer Loans [Member] | |||
Loans | 37,160 | 38,583 | |
Consumer Portfolio Segment [Member] | Branch Retail [Member] | |||
Loans | 29,609 | 28,324 | |
Consumer Portfolio Segment [Member] | Indirect Sales [Member] | |||
Loans | 45,466 | 40,609 | |
FUSB [Member] | |||
Total past due | 1,263 | 6,214 | |
Current | 409,454 | 411,282 | |
Loans | 410,717 | 417,496 | |
Accruing loans past due 90 days or more amounted | |||
FUSB [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 833 | 4,552 | |
FUSB [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 392 | 661 | |
FUSB [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 38 | 1,001 | |
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | |||
Total past due | 1,071 | ||
Current | 27,521 | 40,269 | |
Loans | 27,521 | 41,340 | |
Accruing loans past due 90 days or more amounted | |||
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 415 | ||
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 582 | ||
FUSB [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 74 | ||
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | |||
Total past due | 554 | 1,566 | |
Current | 96,251 | 101,405 | |
Loans | 96,805 | 102,971 | |
Accruing loans past due 90 days or more amounted | |||
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 185 | 991 | |
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 369 | 36 | |
FUSB [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 539 | ||
FUSB [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | |||
Current | 28,033 | 23,009 | |
Loans | 28,033 | 23,009 | |
Accruing loans past due 90 days or more amounted | |||
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | |||
Total past due | 480 | 471 | |
Current | 158,268 | 155,691 | |
Loans | 158,748 | 156,162 | |
Accruing loans past due 90 days or more amounted | |||
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 470 | 458 | |
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 13 | ||
FUSB [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 10 | ||
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | |||
Total past due | 10 | ||
Current | 870 | 1,308 | |
Loans | 880 | 1,308 | |
Accruing loans past due 90 days or more amounted | |||
FUSB [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 10 | ||
FUSB [Member] | Commercial and Industrial Loans [Member] | |||
Total past due | 116 | 3,022 | |
Current | 91,373 | 82,757 | |
Loans | [1] | 91,489 | 85,779 |
Accruing loans past due 90 days or more amounted | |||
FUSB [Member] | Commercial and Industrial Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 116 | 2,608 | |
FUSB [Member] | Commercial and Industrial Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 30 | ||
FUSB [Member] | Commercial and Industrial Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 384 | ||
FUSB [Member] | Consumer Portfolio Segment [Member] | |||
Total past due | 103 | 84 | |
Current | 7,138 | 6,843 | |
Loans | 7,241 | 6,927 | |
Accruing loans past due 90 days or more amounted | |||
FUSB [Member] | Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 62 | 80 | |
FUSB [Member] | Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 23 | ||
FUSB [Member] | Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 18 | 4 | |
FUSB [Member] | Consumer Portfolio Segment [Member] | Consumer Loans [Member] | |||
Loans | 7,241 | 6,927 | |
FUSB [Member] | Consumer Portfolio Segment [Member] | Branch Retail [Member] | |||
Loans | |||
FUSB [Member] | Consumer Portfolio Segment [Member] | Indirect Sales [Member] | |||
Loans | |||
ALC [Member] | |||
Total past due | 2,010 | 2,796 | |
Current | 109,533 | 105,578 | |
Loans | 111,543 | 108,374 | |
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 780 | 971 | |
ALC [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 393 | 596 | |
ALC [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 837 | 1,229 | |
ALC [Member] | Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | |||
Loans | |||
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | |||
Total past due | 232 | 253 | |
Current | 6,317 | 7,532 | |
Loans | 6,549 | 7,785 | |
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 65 | 60 | |
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 56 | 65 | |
ALC [Member] | Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 111 | 128 | |
ALC [Member] | Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | |||
Current | |||
Loans | |||
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | |||
Current | |||
Loans | |||
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Real Estate [Member] | Other Real Estate Loans [Member] | |||
Current | |||
Loans | |||
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Commercial and Industrial Loans [Member] | |||
Current | |||
Loans | [1] | ||
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Consumer Portfolio Segment [Member] | Consumer Loans [Member] | |||
Total past due | 1,151 | 1,747 | |
Current | 28,768 | 29,909 | |
Loans | 29,919 | 31,656 | |
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Consumer Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 369 | 563 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 272 | 354 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Consumer Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 510 | 830 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Branch Retail [Member] | |||
Total past due | 319 | 415 | |
Current | 29,290 | 27,909 | |
Loans | 29,609 | 28,324 | |
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Consumer Portfolio Segment [Member] | Branch Retail [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 154 | 164 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Branch Retail [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 55 | 98 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Branch Retail [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | 110 | 153 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Indirect Sales [Member] | |||
Total past due | 308 | 381 | |
Current | 45,158 | 40,228 | |
Loans | 45,466 | 40,609 | |
Accruing loans past due 90 days or more amounted | |||
ALC [Member] | Consumer Portfolio Segment [Member] | Indirect Sales [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Total past due | 192 | 184 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Indirect Sales [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Total past due | 10 | 79 | |
ALC [Member] | Consumer Portfolio Segment [Member] | Indirect Sales [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Total past due | $ 106 | $ 118 | |
[1] | Includes equipment financing leases. |
Note 5 - Loans and Allowance _9
Note 5 - Loans and Allowance for Loan Losses - Non-accruing Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Non-accruing loans | $ 1,479 | $ 2,759 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Non-accruing loans | 73 | |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Non-accruing loans | 632 | 1,097 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Non-accruing loans | 0 | |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Non-accruing loans | 20 | 14 |
Real Estate [Member] | Other Real Estate Loans [Member] | ||
Non-accruing loans | 10 | |
Commercial and Industrial Loans [Member] | ||
Non-accruing loans | 33 | 424 |
Consumer Portfolio Segment [Member] | Consumer Loans [Member] | ||
Non-accruing loans | 568 | 879 |
Consumer Portfolio Segment [Member] | Branch Retail [Member] | ||
Non-accruing loans | 110 | 153 |
Consumer Portfolio Segment [Member] | Indirect Sales [Member] | ||
Non-accruing loans | $ 106 | $ 119 |
Note 5 - Loans and Allowance_10
Note 5 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Impaired loans with no related allowance recorded, carrying amount | $ 1,793 | $ 708 |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,793 | 708 |
Impaired loans with an allowance recorded, carrying amount | 543 | 831 |
Impaired loans with an allowance recorded, unpaid principal balance | 543 | 831 |
Impaired loans, related allowances | 188 | 166 |
Impaired loans, carrying amount | 2,336 | 1,539 |
Impaired loans, unpaid principal balance | 2,336 | 1,539 |
Impaired loans, average recorded investment | 2,067 | 1,460 |
Impaired loans, interest income recognized | 62 | 65 |
Impaired loans, interest income received | 56 | 67 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Impaired loans with no related allowance recorded, carrying amount | 73 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 73 | |
Impaired loans with an allowance recorded, carrying amount | 421 | 153 |
Impaired loans with an allowance recorded, unpaid principal balance | 421 | 153 |
Impaired loans, related allowances | 95 | 28 |
Impaired loans, carrying amount | 421 | 226 |
Impaired loans, unpaid principal balance | 421 | 226 |
Impaired loans, average recorded investment | 181 | 70 |
Impaired loans, interest income recognized | 7 | 8 |
Impaired loans, interest income received | 6 | 8 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Impaired loans with no related allowance recorded, carrying amount | 1,289 | 635 |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,289 | 635 |
Impaired loans with an allowance recorded, carrying amount | 22 | 57 |
Impaired loans with an allowance recorded, unpaid principal balance | 22 | 57 |
Impaired loans, related allowances | 16 | 50 |
Impaired loans, carrying amount | 1,311 | 692 |
Impaired loans, unpaid principal balance | 1,311 | 692 |
Impaired loans, average recorded investment | 1,062 | 794 |
Impaired loans, interest income recognized | 31 | 16 |
Impaired loans, interest income received | 28 | 16 |
Real Estate [Member] | Secured by Multi-family Residential Properties [Member] | ||
Impaired loans with no related allowance recorded, carrying amount | ||
Impaired loans with no related allowance recorded, unpaid principal balance | ||
Impaired loans with an allowance recorded, carrying amount | ||
Impaired loans with an allowance recorded, unpaid principal balance | ||
Impaired loans, related allowances | ||
Impaired loans, carrying amount | ||
Impaired loans, unpaid principal balance | ||
Impaired loans, average recorded investment | ||
Impaired loans, interest income recognized | ||
Impaired loans, interest income received | ||
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Impaired loans with no related allowance recorded, carrying amount | 504 | |
Impaired loans with no related allowance recorded, unpaid principal balance | 504 | |
Impaired loans with an allowance recorded, carrying amount | 511 | |
Impaired loans with an allowance recorded, unpaid principal balance | 511 | |
Impaired loans, related allowances | 1 | |
Impaired loans, carrying amount | 504 | 511 |
Impaired loans, unpaid principal balance | 504 | 511 |
Impaired loans, average recorded investment | 718 | 523 |
Impaired loans, interest income recognized | 19 | 34 |
Impaired loans, interest income received | 18 | 35 |
Real Estate [Member] | Other Real Estate Loans [Member] | ||
Impaired loans, average recorded investment | 1 | |
Impaired loans, interest income recognized | ||
Impaired loans, interest income received | ||
Commercial and Industrial Loans [Member] | ||
Impaired loans with no related allowance recorded, carrying amount | ||
Impaired loans with no related allowance recorded, unpaid principal balance | ||
Impaired loans with an allowance recorded, carrying amount | 65 | 67 |
Impaired loans with an allowance recorded, unpaid principal balance | 65 | 67 |
Impaired loans, related allowances | 65 | 67 |
Impaired loans, carrying amount | 65 | 67 |
Impaired loans, unpaid principal balance | 65 | 67 |
Impaired loans, average recorded investment | 66 | 57 |
Impaired loans, interest income recognized | 4 | 4 |
Impaired loans, interest income received | 3 | 5 |
Consumer Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, carrying amount | ||
Impaired loans with no related allowance recorded, unpaid principal balance | ||
Impaired loans with an allowance recorded, carrying amount | 35 | 43 |
Impaired loans with an allowance recorded, unpaid principal balance | 35 | 43 |
Impaired loans, related allowances | 12 | 20 |
Impaired loans, carrying amount | 35 | 43 |
Impaired loans, unpaid principal balance | 35 | 43 |
Impaired loans, average recorded investment | 40 | 15 |
Impaired loans, interest income recognized | 1 | 3 |
Impaired loans, interest income received | $ 1 | $ 3 |
Note 5 - Loans and Allowance_11
Note 5 - Loans and Allowance for Loan Losses - Loans Modified in a Troubled Debt Restructuring (Details) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Number of loans | 6 | 7 |
Pre- modification outstanding principal balance | $ 541 | $ 594 |
Post- modification principal balance | $ 200 | $ 297 |
Real Estate [Member] | Construction, Land Development and Other Land Loans [Member] | ||
Number of loans | 1 | 1 |
Pre- modification outstanding principal balance | $ 107 | $ 107 |
Post- modification principal balance | $ 69 | $ 73 |
Real Estate [Member] | Secured by 1-4 Family Residential Properties [Member] | ||
Number of loans | 3 | 3 |
Pre- modification outstanding principal balance | $ 318 | $ 318 |
Post- modification principal balance | $ 64 | $ 118 |
Real Estate [Member] | Secured by Non-farm, Non-residential Properties [Member] | ||
Number of loans | 1 | |
Pre- modification outstanding principal balance | $ 53 | |
Post- modification principal balance | $ 34 | |
Commercial and Industrial Loans [Member] | ||
Number of loans | 2 | 2 |
Pre- modification outstanding principal balance | $ 116 | $ 116 |
Post- modification principal balance | $ 67 | $ 72 |
Note 6 - Other Real Estate Ow_3
Note 6 - Other Real Estate Owned and Repossessions (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Foreclosed Real Estate Owned, Fair Value Less Disposal Costs | $ 100 | $ 500 | |
Mortgage Loans in Process of Foreclosure, Amount | 0 | $ 48 | |
Repossessed Assets, Total | $ 200 | $ 200 |
Note 6 - Other Real Estate Ow_4
Note 6 - Other Real Estate Owned and Repossessions - Foreclosed Property Activity (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | ||
Beginning balance | $ 1,505 | $ 3,792 | |
Additions (1) | [1] | 262 | 131 |
Sales proceeds | (483) | (1,641) | |
Gross gains | 39 | 121 | |
Gross losses | (27) | (99) | |
Net gains (losses) | 12 | 22 | |
Impairment | (38) | (123) | |
Ending balance | 1,258 | 2,181 | |
FUSB [Member] | |||
Beginning balance | 1,401 | 3,527 | |
Additions (1) | [1] | 224 | 106 |
Sales proceeds | (404) | (1,598) | |
Gross gains | 37 | 121 | |
Gross losses | (45) | ||
Net gains (losses) | 37 | 76 | |
Impairment | (109) | ||
Ending balance | 1,258 | 2,002 | |
ALC [Member] | |||
Beginning balance | 104 | 265 | |
Additions (1) | [1] | 38 | 25 |
Sales proceeds | (79) | (43) | |
Gross gains | 2 | ||
Gross losses | (27) | (54) | |
Net gains (losses) | (25) | (54) | |
Impairment | (38) | (14) | |
Ending balance | $ 179 | ||
[1] | Additions to other real estate owned ("OREO") include transfers from loans and capitalized improvements to existing OREO properties. |
Note 7 - Goodwill and Other I_3
Note 7 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Jun. 30, 2019 | Aug. 31, 2018 | |
Goodwill, Ending Balance | $ 7,400 | $ 7,435 | $ 7,435 |
Finite-Lived Intangible Assets, Net, Ending Balance | $ 1,621 | ||
Core Deposits [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 7 years | ||
Finite-Lived Intangible Assets, Net, Ending Balance | $ 2,000 | ||
The Peoples Bank [Member] | |||
Goodwill, Ending Balance | $ 7,400 | $ 7,400 |
Note 7 - Goodwill and Other I_4
Note 7 - Goodwill and Other Intangible Assets - Summary of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Aug. 31, 2018 | Jun. 30, 2018 |
Goodwill, Ending Balance | $ 7,435 | $ 7,400 | $ 7,435 | |
Gross carrying amount | 2,048 | |||
Accumulated amortization | (427) | |||
Core deposit intangible, net | 1,621 | |||
Total | $ 9,056 | $ 9,312 |
Note 7 - Goodwill and Other I_5
Note 7 - Goodwill and Other Intangible Assets - Estimated Remaining Amortization Expense (Details) $ in Thousands | Jun. 30, 2019USD ($) |
2019 | $ 232 |
2020 | 414 |
2021 | 341 |
2022 | 268 |
2023 | 195 |
2024 | 122 |
2025 | 49 |
Core deposit intangible, net | $ 1,621 |
Note 8 - Short-term Borrowings
Note 8 - Short-term Borrowings (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Short-term Debt, Total | $ 73 | $ 527 |
Federal Funds Purchased | 0 | 0 |
Available Fund Lines From Correspondent Banks | 72,000 | 72,200 |
Securities Sold under Agreements to Repurchase, Total | 100 | 500 |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months, Total | $ 0 | $ 0 |
Minimum [Member] | ||
Maturity Period of Federal Funds | 1 day | |
Maximum [Member] | ||
Maturity Period of Federal Funds | 4 days |
Note 9 - Long-term Debt (Detail
Note 9 - Long-term Debt (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Long-term Federal Home Loan Bank Advances, Total | $ 0 | $ 0 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 36,900 | 27,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 238,500 | $ 282,200 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Income Tax Expense (Benefit), Total | $ 300 | $ 81 | $ 81 | $ 651 | $ 162 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 22.50% | 17.30% | ||||
Deferred Tax Assets, Net, Total | $ 3,400 | $ 3,400 | $ 4,600 |
Note 11 - Deferred Compensati_2
Note 11 - Deferred Compensation Plans (Details Textual) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance | 119,519 | 116,766 |
Other Liabilities [Member] | ||
Deferred Compensation Liability, Current and Noncurrent, Total | $ 3.3 | $ 3.4 |
Note 12 - Stock Awards (Details
Note 12 - Stock Awards (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0.3 | $ 0.9 |
Share-based Payment Arrangement, Option [Member] | Omnibus Incentive Plan [Member] | ||
Share-based Payment Arrangement, Expense | $ 0.1 | $ 0.1 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 10 years | |
Share-based Payment Arrangement, Option [Member] | Omnibus Incentive Plan [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |
Share-based Payment Arrangement, Option [Member] | Omnibus Incentive Plan [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Restricted Stock [Member] | Omnibus Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 5,520 | 10,520 |
Note 12 - Stock Awards - Fair V
Note 12 - Stock Awards - Fair Value Assumptions (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Risk-free interest rate | 2.59% | 2.77% |
Expected term (in years) (Year) | 7 years 182 days | 7 years 182 days |
Expected stock price volatility | 30.90% | 28.30% |
Dividend yield | 1.25% | 1.50% |
Fair value of stock option (in dollars per share) | $ 3.30 | $ 3.51 |
Note 12 - Stock Awards - Stock
Note 12 - Stock Awards - Stock Option Activity (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Outstanding, beginning of period (in shares) | 377,950 | 318,000 |
Outstanding, beginning of period, average exercise price (in dollars per share) | $ 9.80 | $ 9.43 |
Granted (in shares) | 66,150 | 62,150 |
Granted, average exercise price (in dollars per share) | $ 10.01 | $ 11.71 |
Exercised (in shares) | ||
Exercised, average exercise price (in dollars per share) | ||
Expired (in shares) | ||
Expired, average exercise price (in dollars per share) | $ 0 | $ 0 |
Forfeited (in shares) | 16,819 | 1,450 |
Forfeited, average exercise price (in dollars per share) | $ 11.39 | $ 11.05 |
Options outstanding, end of period (in shares) | 427,281 | 378,700 |
Options outstanding, end of period, average exercise price (in dollars per share) | $ 9.77 | $ 9.80 |
Options exercisable, end of period (in shares) | 309,682 | 249,300 |
Options exercisable, end of period, average exercise price (in dollars per share) | $ 9.20 | $ 8.71 |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) | 6 Months Ended |
Jun. 30, 2019 | |
Lessee, Operating Lease, Renewal Term | 5 years |
Lessee, Operating Lease, Period of Option to Terminate | 1 year |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Term of Contract | 0 years |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Term of Contract | 15 years |
Note 13 - Leases - Components o
Note 13 - Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Operating lease expense (1) | [1] | $ 210 | $ 137 | $ 420 | $ 295 |
Operating lease income (2) | [2] | 212 | 421 | 34 | |
Operating lease right-of-use assets | 3,776 | 3,776 | |||
Operating lease liabilities | $ 3,792 | $ 3,792 | |||
Weighted-average remaining lease term (in years) (Year) | 7 years 102 days | 7 years 102 days | |||
Weighted-average discount rate | 3.19% | 3.19% | |||
Operating cash flows from operating leases | $ 385 | $ 230 | |||
[1] | Includes short-term lease costs. For the three and six month periods ended June 30, 2019 and 2018, short-term lease costs were nominal in amount. | ||||
[2] | Operating lease income includes rental income from owned properties. |
Note 13 - Leases - Future Minim
Note 13 - Leases - Future Minimum Operating Lease Payments (Details) $ in Thousands | Jun. 30, 2019USD ($) |
2019 | $ 371 |
2020 | 677 |
2021 | 574 |
2022 | 512 |
2023 | 453 |
2024 and thereafter | 1,714 |
Total future minimum lease payments | 4,301 |
Less: Imputed interest | 509 |
Operating Lease, Liability, Total | $ 3,792 |
Note 14 - Segment Reporting (De
Note 14 - Segment Reporting (Details Textual) | 6 Months Ended |
Jun. 30, 2019 | |
Number of Reportable Segments | 2 |
Note 14 - Segment Reporting - R
Note 14 - Segment Reporting - Results for Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Net interest income | $ 9,233 | $ 7,502 | $ 7,502 | $ 18,406 | $ 14,816 | |
Provision for loan losses | 715 | 702 | 702 | 1,115 | 1,360 | $ 2,622 |
Total non-interest income | 1,291 | 1,132 | 1,132 | 2,556 | 2,272 | |
Total non-interest expense | 8,504 | 7,492 | 7,492 | 16,957 | 14,793 | |
Income before income taxes | 1,305 | 440 | 440 | 2,890 | 935 | |
Provision for income taxes | 300 | 81 | 81 | 651 | 162 | |
Net income | 1,005 | 359 | 359 | 2,239 | 773 | |
Total assets | 777,171 | 634,036 | 634,036 | 777,171 | 634,036 | 791,939 |
Total investment securities | 136,649 | 165,740 | 165,740 | 136,649 | 165,740 | |
Total loans, net | 511,515 | 355,529 | 355,529 | 511,515 | 355,529 | 514,867 |
Goodwill and core deposit intangible, net | 9,056 | 9,056 | 9,312 | |||
Investment in subsidiaries | 5 | 5 | 5 | 5 | 5 | |
Fixed asset additions | 951 | 494 | 2,642 | 715 | ||
Depreciation and amortization expense | 396 | 353 | 796 | 704 | ||
Total interest income from external customers | 10,923 | 8,390 | 21,736 | 16,509 | ||
Total interest income from affiliates | ||||||
Intersegment Eliminations [Member] | ||||||
Net interest income | ||||||
Provision for loan losses | ||||||
Total non-interest income | (1,429) | (772) | (3,042) | (1,608) | ||
Total non-interest expense | (153) | (187) | (328) | (388) | ||
Income before income taxes | (1,276) | (585) | (2,714) | (1,220) | ||
Provision for income taxes | ||||||
Net income | (1,276) | (585) | (2,714) | (1,220) | ||
Total assets | (198,094) | (187,343) | (187,343) | (198,094) | (187,343) | |
Total investment securities | ||||||
Total loans, net | (93,669) | (90,936) | (90,936) | (93,669) | (90,936) | |
Goodwill and core deposit intangible, net | ||||||
Investment in subsidiaries | (83,436) | (75,241) | (75,241) | (83,436) | (75,241) | |
Fixed asset additions | ||||||
Depreciation and amortization expense | ||||||
Total interest income from external customers | ||||||
Total interest income from affiliates | (1,213) | (1,158) | (2,379) | (2,251) | ||
FUSB [Member] | ||||||
Provision for loan losses | 90 | 215 | ||||
Total loans, net | 407,508 | 407,508 | 414,430 | |||
FUSB [Member] | Operating Segments [Member] | ||||||
Net interest income | 5,986 | 4,244 | 11,995 | 8,361 | ||
Provision for loan losses | 90 | 90 | 39 | |||
Total non-interest income | 1,108 | 948 | 2,186 | 1,815 | ||
Total non-interest expense | 5,798 | 4,888 | 11,631 | 9,419 | ||
Income before income taxes | 1,206 | 304 | 2,460 | 718 | ||
Provision for income taxes | 249 | 60 | 511 | 130 | ||
Net income | 957 | 244 | 1,949 | 588 | ||
Total assets | 778,252 | 636,623 | 636,623 | 778,252 | 636,623 | |
Total investment securities | 136,569 | 165,660 | 165,660 | 136,569 | 165,660 | |
Total loans, net | 501,177 | 345,673 | 345,673 | 501,177 | 345,673 | |
Goodwill and core deposit intangible, net | 9,056 | 9,056 | ||||
Investment in subsidiaries | 5 | 5 | 5 | 5 | 5 | |
Fixed asset additions | 887 | 439 | 2,564 | 658 | ||
Depreciation and amortization expense | 361 | 321 | 728 | 639 | ||
Total interest income from external customers | 6,476 | 3,983 | 12,969 | 7,820 | ||
Total interest income from affiliates | 1,206 | 1,154 | 2,367 | 2,243 | ||
ALC [Member] | ||||||
Provision for loan losses | 1,025 | 2,407 | ||||
Total loans, net | 104,007 | 104,007 | $ 100,437 | |||
ALC [Member] | Operating Segments [Member] | ||||||
Net interest income | 3,240 | 3,254 | 6,398 | 6,447 | ||
Provision for loan losses | 625 | 702 | 1,025 | 1,321 | ||
Total non-interest income | 228 | 272 | 447 | 528 | ||
Total non-interest expense | 2,366 | 2,426 | 4,734 | 4,950 | ||
Income before income taxes | 477 | 398 | 1,086 | 704 | ||
Provision for income taxes | 121 | 82 | 264 | 152 | ||
Net income | 356 | 316 | 822 | 552 | ||
Total assets | 107,911 | 103,624 | 103,624 | 107,911 | 103,624 | |
Total investment securities | ||||||
Total loans, net | 104,007 | 100,792 | 100,792 | 104,007 | 100,792 | |
Goodwill and core deposit intangible, net | ||||||
Investment in subsidiaries | ||||||
Fixed asset additions | 64 | 55 | 78 | 57 | ||
Depreciation and amortization expense | 35 | 32 | 68 | 65 | ||
Total interest income from external customers | 4,447 | 4,407 | 8,766 | 8,689 | ||
Total interest income from affiliates | ||||||
Other Segments [Member] | Operating Segments [Member] | ||||||
Net interest income | 7 | 4 | 13 | 8 | ||
Provision for loan losses | ||||||
Total non-interest income | 1,384 | 684 | 2,965 | 1,537 | ||
Total non-interest expense | 493 | 365 | 920 | 812 | ||
Income before income taxes | 898 | 323 | 2,058 | 733 | ||
Provision for income taxes | (70) | (61) | (124) | (120) | ||
Net income | 968 | 384 | 2,182 | 853 | ||
Total assets | 89,102 | 81,132 | 81,132 | 89,102 | 81,132 | |
Total investment securities | 80 | 80 | 80 | 80 | 80 | |
Total loans, net | ||||||
Goodwill and core deposit intangible, net | ||||||
Investment in subsidiaries | 83,436 | $ 75,241 | 75,241 | 83,436 | 75,241 | |
Fixed asset additions | ||||||
Depreciation and amortization expense | ||||||
Total interest income from external customers | 1 | |||||
Total interest income from affiliates | $ 7 | $ 4 | $ 12 | $ 8 |
Note 15 - Guarantees, Commitm_3
Note 15 - Guarantees, Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Self Insurance Reserve | $ 0.2 | $ 0.1 |
Note 15 - Guarantees, Commitm_4
Note 15 - Guarantees, Commitments and Contingencies - Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Standby Letters of Credit [Member] | ||
Commitments and contingent liabilities | $ 180 | $ 180 |
Standby Performance Letters of Credit [Member] | ||
Commitments and contingent liabilities | 652 | 704 |
Commitments to Extend Credit [Member] | ||
Commitments and contingent liabilities | $ 102,789 | $ 85,972 |
Note 16 - Fair Value of Finan_3
Note 16 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Recurring [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 16 - Fair Value of Finan_4
Note 16 - Fair Value of Financial Instruments - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Investment securities available-for-sale, at fair value | $ 117,961 | $ 132,487 |
Residential Mortgage Backed Securities [Member] | ||
Investment securities available-for-sale, at fair value | 64,267 | 72,455 |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | 64,267 | 72,455 |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | 64,267 | 72,455 |
Residential Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Commercial Mortgage Backed Securities [Member] | ||
Investment securities available-for-sale, at fair value | 48,749 | 54,289 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | 48,749 | 54,289 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | 48,749 | 54,289 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities available-for-sale, at fair value | 4,865 | 5,664 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | 4,865 | 5,664 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | 4,865 | 5,664 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US Treasury Securities [Member] | ||
Investment securities available-for-sale, at fair value | 80 | 79 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | ||
Investment securities available-for-sale, at fair value | 80 | 79 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Investment securities available-for-sale, at fair value | ||
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Investment securities available-for-sale, at fair value | 80 | 79 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Investment securities available-for-sale, at fair value |
Note 16 - Fair Value of Finan_5
Note 16 - Fair Value of Financial Instruments - Assets Measured at Fair Value on Non-recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | $ 355 | |
OREO | 1,258 | |
Assets held-for-sale | 198 | |
Fair Value, Nonrecurring [Member] | ||
Impaired loans | 355 | $ 665 |
OREO | 1,258 | 1,505 |
Assets held-for-sale | 198 | 198 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
OREO | ||
Assets held-for-sale | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
OREO | ||
Assets held-for-sale | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 355 | 665 |
OREO | 1,258 | 1,505 |
Assets held-for-sale | $ 198 | $ 198 |
Note 16 - Fair Value of Finan_6
Note 16 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands | Jun. 30, 2019USD ($) |
Impaired loans | $ 355 |
OREO | 1,258 |
Assets held-for-sale | $ 198 |
Minimum [Member] | Measurement Input, Comparability Adjustment [Member] | |
Impaired loans, appraisal comparability adjustment | 0.09 |
OREO, appraisal comparability adjustment | 0.09 |
Assets held-for-sale | 0.09 |
Maximum [Member] | Measurement Input, Comparability Adjustment [Member] | |
Impaired loans, appraisal comparability adjustment | 0.1 |
OREO, appraisal comparability adjustment | 0.1 |
Assets held-for-sale | 0.1 |
Weighted Average [Member] | Measurement Input, Comparability Adjustment [Member] | |
Impaired loans, appraisal comparability adjustment | (0.095) |
OREO, appraisal comparability adjustment | (0.095) |
Assets held-for-sale | (0.095) |
Note 16 - Fair Value of Finan_7
Note 16 - Fair Value of Financial Instruments - Estimated Fair Value and Related Carrying or Notional Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets: | ||
Investment securities available-for-sale | $ 117,961 | $ 132,487 |
Investment securities held-to-maturity | 18,574 | 20,852 |
Reported Value Measurement [Member] | ||
Assets: | ||
Cash and cash equivalents | 44,859 | 49,599 |
Investment securities available-for-sale | 117,961 | 132,487 |
Investment securities held-to-maturity | 18,688 | 21,462 |
Federal funds sold | 15,081 | 8,354 |
Federal Home Loan Bank stock | 713 | 703 |
Loans, net of allowance for loan losses | 511,515 | 514,867 |
Liabilities: | ||
Deposits | 682,806 | 704,725 |
Short-term borrowings | 73 | 527 |
Estimate of Fair Value Measurement [Member] | ||
Assets: | ||
Cash and cash equivalents | 44,859 | 49,599 |
Investment securities available-for-sale | 117,961 | 132,487 |
Investment securities held-to-maturity | 18,574 | 20,852 |
Federal funds sold | 15,081 | 8,354 |
Federal Home Loan Bank stock | 713 | 703 |
Loans, net of allowance for loan losses | 516,490 | 516,420 |
Liabilities: | ||
Deposits | 682,865 | 702,832 |
Short-term borrowings | 73 | 527 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Cash and cash equivalents | 44,859 | 49,599 |
Investment securities available-for-sale | ||
Investment securities held-to-maturity | ||
Federal funds sold | ||
Federal Home Loan Bank stock | ||
Loans, net of allowance for loan losses | ||
Liabilities: | ||
Deposits | ||
Short-term borrowings | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Cash and cash equivalents | ||
Investment securities available-for-sale | 117,961 | 132,487 |
Investment securities held-to-maturity | 18,574 | 20,852 |
Federal funds sold | 15,081 | 8,354 |
Federal Home Loan Bank stock | ||
Loans, net of allowance for loan losses | ||
Liabilities: | ||
Deposits | 682,865 | 702,832 |
Short-term borrowings | 73 | 527 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets: | ||
Cash and cash equivalents | ||
Investment securities available-for-sale | ||
Investment securities held-to-maturity | ||
Federal funds sold | ||
Federal Home Loan Bank stock | 713 | 703 |
Loans, net of allowance for loan losses | 516,490 | 516,420 |
Liabilities: | ||
Deposits | ||
Short-term borrowings |