Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Apr. 24, 2020 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2020 | |
Document Transition Report | false | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 0-15536 | |
Entity Registrant Name | CODORUS VALLEY BANCORP INC | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 23-2428543 | |
Entity Address, Address Line One | 105 Leader Heights Road | |
Entity Address, Address Line Two | P.O. Box 2887 | |
Entity Address, City or Town | York | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 17405 | |
City Area Code | 717 | |
Local Phone Number | 747-1519 | |
Title of 12(b) Security | Common Stock, $2.50 par value | |
Trading Symbol | CVLY | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 9,763,713 | |
Entity Central Index Key | 0000806279 | |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Interest bearing deposits with banks | $ 169,689 | $ 110,742 |
Cash and due from banks | 15,569 | 20,849 |
Total cash and cash equivalents | 185,258 | 131,591 |
Securities, available-for-sale | 171,738 | 159,675 |
Restricted investment in bank stocks, at cost | 3,951 | 4,551 |
Loans held for sale | 10,858 | 11,803 |
Loans (net of deferred fees of $3,266 - 2020 and $3,463 - 2019) | 1,476,661 | 1,505,135 |
Less-allowance for loan losses | (22,838) | (21,066) |
Net loans | 1,453,823 | 1,484,069 |
Premises and equipment, net | 26,637 | 25,967 |
Operating leases right-of-use assets | 3,030 | 3,021 |
Goodwill | 2,301 | 2,301 |
Other assets | 64,363 | 63,567 |
Total assets | 1,921,959 | 1,886,545 |
Deposits | ||
Noninterest bearing | 274,382 | 273,968 |
Interest bearing | 1,364,965 | 1,316,596 |
Total deposits | 1,639,347 | 1,590,564 |
Short-term borrowings | 6,196 | 7,925 |
Long-term debt | 71,627 | 81,632 |
Operating leases liabilities | 3,187 | 3,184 |
Other liabilities | 12,006 | 12,072 |
Total liabilities | 1,732,363 | 1,695,377 |
Shareholders' equity | ||
Preferred stock, par value $2.50 per share; 1,000,000 shares authorized; shares issued and outstanding: 0 at March 31, 2020 and 0 at December 31, 2019 | 0 | 0 |
Common stock, par value $2.50 per share; 30,000,000 shares authorized; Shares issued: 9,769,150 at March 31, 2020 and 9,755,976 at December 31, 2019; and shares outstanding: 9,763,713 at March 31, 2020 and 9,755,976 at December 31, 2019. | 24,423 | 24,390 |
Additional paid-in capital | 140,686 | 140,450 |
Retained earnings | 20,469 | 25,019 |
Accumulated other comprehensive income | 4,107 | 1,309 |
Treasury stock, at cost; 5,437 shares at March 31, 2020 | (89) | 0 |
Total shareholders' equity | 189,596 | 191,168 |
Total liabilities and shareholders' equity | $ 1,921,959 | $ 1,886,545 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Loans, deferred fees | $ 3,266 | $ 3,463 |
Shareholders' equity | ||
Preferred stock, par value | $ 2.50 | $ 2.50 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 9,769,150 | 9,755,976 |
Common stock, shares outstanding | 9,763,713 | 9,755,976 |
Treasury stock, at cost, shares | 5,437 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest income | ||
Loans, including fees | $ 18,764 | $ 19,510 |
Investment securities: | ||
Taxable | 820 | 676 |
Tax-exempt | 141 | 209 |
Dividends | 72 | 119 |
Other | 392 | 362 |
Total interest income | 20,189 | 20,876 |
Interest expense | ||
Deposits | 4,276 | 4,620 |
Federal funds purchased and other short-term borrowings | 9 | 9 |
Long-term debt | 537 | 716 |
Total interest expense | 4,822 | 5,345 |
Net interest income | 15,367 | 15,531 |
Provision for loan losses | 9,435 | 1,050 |
Net interest income after provision for loan losses | 5,932 | 14,481 |
Noninterest income | ||
Trust and investment services fees | 994 | 840 |
Income from mutual fund, annuity and insurance sales | 261 | 235 |
Service charges on deposit accounts | 1,130 | 1,158 |
Income from bank owned life insurance | 286 | 367 |
Other income | 439 | 409 |
Gain on sales of loans held for sale | 298 | 218 |
Gain (loss) on sales of securities | 15 | (4) |
Total noninterest income | 3,423 | 3,223 |
Noninterest expense | ||
Personnel | 7,805 | 7,706 |
Occupancy of premises, net | 926 | 963 |
Furniture and equipment | 853 | 772 |
Postage, stationery and supplies | 217 | 184 |
Professional and legal | 205 | 109 |
Marketing | 325 | 349 |
FDIC insurance | 167 | 237 |
Debit card processing | 389 | 323 |
Charitable donations | 872 | 845 |
Telecommunications | 121 | 126 |
External data processing | 704 | 556 |
Foreclosed real estate including provision for losses | 20 | 87 |
Other | 715 | 304 |
Total noninterest expense | 13,319 | 12,561 |
(Loss) Income before income taxes | (3,964) | 5,143 |
(Benefit) provision for income taxes | (975) | 1,052 |
Net (loss) income | $ (2,989) | $ 4,091 |
Net (loss) income per share, basic | $ (0.31) | $ 0.41 |
Net (loss) income per share, diluted | $ (0.31) | $ 0.41 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net (loss) income | $ (2,989) | $ 4,091 | |
Securities available for sale: | |||
Net unrealized holding gains arising during the period (net of tax expense) | 2,810 | 1,396 | |
Reclassification adjustment for (gains) losses included in net income (net of tax expense (benefit) | [1],[2] | (12) | 3 |
Net unrealized gains | 2,798 | 1,399 | |
Comprehensive (loss) income | $ (191) | $ 5,490 | |
[1] | Amounts are included in net gain on sales of securities on the Consolidated Statements of Income within noninterest income. | ||
[2] | Income tax amounts are included in the provision for income taxes on the Consolidated Statements of Income. |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Securities available for sale: | ||
Net unrealized holding gains (losses) arising during the period, tax expense (benefit) | $ 747 | $ 370 |
Reclassification adjustment for (losses) gains included in net income, tax (benefit) expense | $ 3 | $ (1) |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities | ||
Net (loss) income | $ (2,989) | $ 4,091 |
Adjustments to reconcile net (loss) income to net cash provided by operations: | ||
Depreciation/amortization | 684 | 651 |
Net amortization of premiums on securities | 151 | 65 |
Amortization of deferred loan origination fees and costs | (403) | (229) |
Net amortization of operating lease right of use assets | 178 | 166 |
Net amortization of finance lease right of use assets | 12 | 0 |
Repayment of lease obligations | (189) | 0 |
Provision for loan losses | 9,435 | 1,050 |
Increase in bank owned life insurance | (286) | (367) |
Originations of mortgage loans held for sale | (9,797) | (7,627) |
Originations of SBA loans held for sale | (4,431) | (1,595) |
Proceeds from sales of mortgage loans held for sale | 11,625 | 7,948 |
Proceeds from sales of SBA loans held for sale | 3,833 | 791 |
Net gain on sales of mortgage loans held for sale | (290) | (165) |
Gain on sales of SBA loans held for sale | (9) | (53) |
Gain on disposal of premises and equipment | 0 | (11) |
(Gain) loss on sales of securities, available-for-sale | (15) | 4 |
Stock-based compensation | 120 | 135 |
Decrease in interest receivable | 144 | 370 |
(Increase) in other assets | (1,156) | (647) |
(Decrease) increase in interest payable | (55) | 142 |
(Decrease) increase in other liabilities | (11) | 539 |
Net cash provided by operating activities | 6,551 | 5,258 |
Cash flows from investing activities | ||
Purchases of securities, available-for-sale | (38,070) | (8,448) |
Maturities, repayments and calls of securities, available-for-sale | 9,561 | 5,561 |
Sales of securities, available-for-sale | 19,852 | 6,017 |
Net decrease in restricted investment in bank stock | 600 | 600 |
Net decrease (increase) in loans made to customers | 21,093 | (9,166) |
Purchases of premises and equipment | (1,352) | (1,759) |
Investment in bank owned life insurance | 0 | (6,600) |
Investment in foreclosed real estate | (121) | 0 |
Net cash provided by (used in) investing activities | 11,563 | (13,795) |
Cash flows from financing activities | ||
Net increase (decrease) in demand and savings deposits | 31,479 | (20,669) |
Net increase in time deposits | 17,304 | 28,266 |
Net (decrease) in short-term borrowings | (1,729) | (192) |
Repayment of long-term debt | (10,000) | 0 |
Cash dividends paid to shareholders | (1,561) | (1,512) |
Treasury stock repurchased | (89) | 0 |
Issuance of stock | 149 | 147 |
Net cash provided by financing activities | 35,553 | 6,040 |
Net increase (decrease) in cash and cash equivalents | 53,667 | (2,497) |
Cash and cash equivalents at beginning of year | 131,591 | 96,782 |
Cash and cash equivalents at end of period | $ 185,258 | $ 94,285 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2018 | $ 23,629 | $ 134,506 | $ 22,837 | $ (2,226) | $ 0 | $ 178,746 |
Adoption of ASC topic 842 (leases) | (199) | (199) | ||||
Net (loss) income | 4,091 | 4,091 | ||||
Other comprehensive income, net of tax | 1,399 | 1,399 | ||||
Cash dividends | (1,512) | (1,512) | ||||
Stock-based compensation | 135 | 135 | ||||
Forfeiture and withheld shares of restricted stock | 2 | (4) | (2) | |||
Issuance and reissuance of stock: | ||||||
Issuance of shares under the dividend reinvestment and stock purchase plan | 17 | 132 | 149 | |||
Balance at Mar. 31, 2019 | 23,646 | 134,775 | 25,217 | (827) | (4) | 182,807 |
Balance at Dec. 31, 2019 | 24,390 | 140,450 | 25,019 | 1,309 | 0 | 191,168 |
Net (loss) income | (2,989) | (2,989) | ||||
Other comprehensive income, net of tax | 2,798 | 2,798 | ||||
Cash dividends | (1,561) | (1,561) | ||||
Stock-based compensation | 120 | 120 | ||||
Repurchased stock | (87) | (87) | ||||
Forfeiture and withheld shares of restricted stock | (2) | (2) | ||||
Issuance and reissuance of stock: | ||||||
Issuance of shares under the dividend reinvestment and stock purchase plan | 17 | 132 | 149 | |||
Issuance of shares of stock-based compensation awards | 16 | (16) | 0 | |||
Balance at Mar. 31, 2020 | $ 24,423 | $ 140,686 | $ 20,469 | $ 4,107 | $ (89) | $ 189,596 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Consolidated Statements Of Changes In Shareholders' Equity [Abstract] | ||
Cash dividends per share | $ 0.160 | $ 0.152 |
Withheld stock, in shares | 102 | |
Repurchased stock, in shares | 5,335 | |
Issuance and reissuance of stock: | ||
Shares under the dividend reinvestment and stock purchase plan | 6,706 | 6,646 |
Shares of stock-based compensation awards | 6,468 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | Note 1—Summary of Significant Accounting Policies Nature of Operations and Basis of Presentation The accompanying consolidated balance sheet at December 31, 2019 has been derived from audited financial statements, and the unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions to Form 10-Q, and FASB Accounting Standards Codification (ASC) 270. Accordingly, the interim financial statements do not include all of the financial information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the interim consolidated financial statements include all adjustments necessary to present fairly the financial condition and results of operations for the reported periods, and all such adjustments are of a normal and recurring nature. Codorus Valley Bancorp, Inc. (“Corporation” or “Codorus Valley”) is a one-bank holding company headquartered in York, Pennsylvania that provides a full range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (“PeoplesBank” or “Bank”). As of March 31, 2020, PeoplesBank operates one wholly-owned subsidiary, Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells nondeposit products. In addition, PeoplesBank may periodically create nonbank subsidiaries for the purpose of temporarily holding foreclosed properties pending the liquidation of these properties. PeoplesBank operates under a state charter and is subject to regulation by the Pennsylvania Department of Banking and Securities, and the Federal Deposit Insurance Corporation. The Corporation is subject to regulation by the Federal Reserve Board and the Pennsylvania Department of Banking and Securities. The consolidated financial statements include the accounts of Codorus Valley and its wholly-owned bank subsidiary, PeoplesBank, and a wholly-owned nonbank subsidiary, SYC Realty Company, Inc. SYC Realty was inactive during the period ended March 31, 2020 . The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 7—Short-Term Borrowings and Long-Term Debt. All significant intercompany account balances and transactions have been eliminated in consolidation. The accounting and reporting policies of Codorus Valley and subsidiaries conform to accounting principles generally accepted in the United States of America and have been followed on a consistent basis. These consolidated statements should be read in conjunction with the notes to the audited consolidated financial statements contained in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2019 . The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the full year. In accordance with FASB ASC 855, the Corporation evaluated the events and transactions that occurred after the balance sheet date of March 31, 2020 and through the date these consolidated financial statements were issued, for items of potential recognition or disclosure. On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the coronavirus as a pandemic, based on the rapid increase in exposure globally. The full impact of the coronavirus continues to evolve as of the date of this report. As such, it is uncertain as to the full magnitude that the pandemic will have on the Corporation’s financial condition, liquidity, and future results of operations. Management is actively monitoring the global situation on its financial condition, liquidity, operations, industry, and workforce. Given the daily evolution of the coronavirus and the global responses to curb its spread, the Corporation is not able to estimate the effects of the coronavirus on its results of operations, financial condition, or liquidity for fiscal year 2020. In addition, the adverse economic effects of the coronavirus may lead to an increase in credit risk on the Corporation’s commercial and residential loan portfolios. Likewise, the Corporation is also monitoring the fluctuations in the markets as it pertains to interest rates and fair value of our investments for OTTI. To curtail the spread of the virus, we are currently restricting branch access to the drive-through window or appointment-only at all locations. On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act in response to the coronavirus pandemic. This legislation aims at providing relief for individuals and businesses that have been negatively impacted by the coronavirus pandemic. The CARES Act includes a provision for the Corporation to opt out of applying the TDR accounting guidance in ASC 310-40 for certain loan modifications. Loan modifications made between March 1, 2020 and the earlier of i) December 30, 2020 or ii) 60 days after the President declares a termination of the COVID-19 national emergency are eligible for this relief if the related loans were not more than 30 days past due as of December 31, 2019. While the Corporation continues to evaluate the disruption caused by the pandemic and impact of the CARES Act, these events may have a material adverse impact on the Corporation’s results of future operations, financial position, capital, and liquidity in fiscal year 2020. Further, a decrease in results of future operations may place a strain on the Corporation’s capital reserve ratios. Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances less amounts charged off, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Generally, loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan. The loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following industry classes: builder & developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale & retail, agriculture, manufacturing and all other. Consumer loans consist of the following classes: residential mortgage, home equity and all other. Generally, for all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. A past due loan may remain on accrual status if it is in the process of collection and well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to the Corporation’s judgment as to the collectability of principal. Generally, nonaccrual loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, generally six months, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. Allowance for Loan Losses The allowance for loan losses represents the Corporation’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectable are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. While the Corporation attributes a portion of the allowance to individual loans and groups of loans that it evaluates and determines to be impaired, the allowance is available to cover all charge-offs that arise from the loan portfolio. The allowance for loan losses is maintained at a level considered by management to be adequate to provide for probable incurred losses. The Corporation performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are classified as impaired, generally nonaccrual loans and troubled debt restructurings. For loans that are classified as impaired, an allowance is established when the collateral value (or discounted cash flows or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class, including commercial loans not considered impaired, as well as smaller balance homogeneous loans such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative (environmental) risk factors. Historical loss rates are based on a two year rolling average of net charge-offs. Qualitative risk factors that supplement historical losses in the evaluation of loan pools are shown below. Each factor is assigned a value to reflect improving, stable or declining conditions based on the Corporation’s best judgment using relevant information available at the time of the evaluation. · Changes in international, US and local economies and business conditions · Changes in the value of collateral for collateral dependent loans · Changes in the level of concentrations of credit · Changes in the volume and severity of classified and past due loans · Changes in the nature and volume of the portfolio · Changes in collection, charge-off, and recovery procedures · Changes in underwriting standards and loan terms · Changes in the quality of the loan review system · Changes in the experience/ability of lending management and key lending staff · Regulatory and legal regulations that could affect the level of credit losses · Other pertinent environmental factors · Impact of imposed tariffs · Impact of COVID-19 pandemic As disclosed in Note 4—Loans, the Corporation engages in commercial and consumer lending. Loans are made within the Corporation’s primary market area and surrounding areas, and include the purchase of whole loan or participation interests in loans from other financial institutions. Commercial loans, which pose the greatest risk of loss to the Corporation, whether originated or purchased, are generally secured by real estate. Within the broad commercial loan segment, the builder & developer and commercial real estate investor loan classes generally present a higher level of risk than other commercial loan classifications. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties, unstable real estate prices and the dependency upon successful construction and sale or operation of the real estate project. Within the consumer loan segment, junior (i.e., second) liens present a higher risk to the Corporation because economic and housing market conditions can adversely affect the underlying value of the collateral, which could render the Corporation under-secured or unsecured. In addition, economic and housing market conditions can adversely affect the ability of some borrowers to service their debt. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Loans that are deemed impaired are evaluated for impairment loss based on the net realizable value of the collateral, as applicable. Loans that are not collateral dependent will rely on the present value of expected future cash flows discounted at the loan’s effective interest rate to determine impairment loss. Large groups of smaller balance homogeneous loans such as residential mortgage loans, home equity loans and other consumer loans are collectively evaluated for impairment, unless they are classified as impaired. An allowance for loan losses is established for an impaired commercial loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals of the underlying collateral. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the most recent appraisal and the condition of the property. Appraisals are generally discounted to provide for selling costs and other factors to determine an estimate of the net realizable value of the property. For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. In instances when specific consumer related loans become impaired, they may be partially or fully charged off, which eliminates the need for a specific allowance. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted under a troubled debt restructuring may involve an interest rate that is below the market rate given the associated credit risk of the loan or an extension of a loan’s stated maturity date. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for a reasonable period of time, generally six consecutive months after modification and future payments are reasonably assured. Foreclosed Real Estate Foreclosed real estate, included in other assets, is comprised of property acquired through a foreclosure proceeding or property that is acquired through in-substance foreclosure. Foreclosed real estate is initially recorded at fair value minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Any difference between the carrying value and the new cost basis is charged against the allowance for loan losses. Appraisals, obtained from an independent third party, are generally used to determine fair value. After foreclosure, management reviews valuations at least quarterly and adjusts the asset to the lower of cost or fair value minus estimated costs to sell through a valuation allowance or a write-down. Costs related to the improvement of foreclosed real estate are generally capitalized until the real estate reaches a saleable condition subject to fair value limitations. Revenue and expense from operations and changes in the valuation allowance are included in noninterest expense. When a foreclosed real estate asset is ultimately sold, any gain or loss on the sale is included in the income statement as a component of noninterest expense. At March 31, 2020 there was $ 918,000 of foreclosed real estate, $121,000 of which was residential real estate. Included within loans receivable as of March 31, 2020 was a recorded investment of $348,000 of consumer mortgage loans secured by residential real estate properties, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. Mortgage Servicing Rights The mortgage servicing rights (MSRs) associated with the sold loans are included in other assets on the consolidated balance sheets at an amount equal to the estimated fair value of the contractual rights to service the mortgage loans. The MSR asset is amortized as a reduction to servicing income. The MSR asset is evaluated periodically for impairment and carried at the lower of amortized cost or fair value. A third party calculates fair value by discounting the estimated cash flows from servicing income using a rate consistent with the risk associated with these assets and an estimate of future net servicing income of the underlying loans. In the event that the amortized cost of the MSR asset exceeds the fair value of the asset, a valuation allowance would be established through a charge against servicing income. Subsequent fair value evaluations may determine that impairment has been reduced or eliminated, in which case the valuation allowance would be reduced through a credit to earnings. At March 31, 2020 , the balance of residential mortgage loans serviced for third parties was $114,169,000 compared to $115,620,000 at December 31, 2019 . Three months ended March 31, (dollars in thousands) 2020 2019 Amortized cost: Balance at beginning of period $ 965 $ 925 Originations of mortgage servicing rights 13 50 Amortization expense (66) (36) Valuation allowance (173) (17) Balance at end of period $ 739 $ 922 Goodwill and Core Deposit Intangible Assets Goodwill arising from acquisitions is not amortized, but is subject to an annual impairment test. This test consists of a qualitative analysis. If the Corporation determines events or circumstances indicate that it is more likely than not that goodwill is impaired, a quantitative analysis must be completed. Analyses may also be performed between annual tests. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. The Corporation completes its annual goodwill impairment test on October 1st of each year. Based upon a qualitative analysis of goodwill, the Corporation concluded that the amount of recorded goodwill was not impaired as of October 1, 2019. Core deposit intangibles represent the value assigned to demand, interest checking, money market, and savings accounts acquired as part of an acquisition. The core deposit intangible value represents the future economic benefit of potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and the alternative cost to grow a similar core deposit base. The core deposit intangible asset resulting from the merger with Madison Bancorp, Inc. was determined to have a definite life and is being amortized using the sum of the years’ digits method over ten years. All intangible assets must be evaluated for impairment if certain events or changes in circumstances occur. Any impairment write-downs would be recognized as expense on the consolidated statements of income. At March 31, 2020 , the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. Revenue from Contracts with Customers Revenue from contracts with customers that are required to be recognized under FASB ASC Topic 606 - Revenue from Contracts with Customers (ASC 606) is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Corporation recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The majority of the Corporation’s revenue-generating transactions are not within the scope of ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, derivatives and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other U.S. Generally Accepted Accounting Principles (GAAP) discussed elsewhere within our disclosures. Descriptions of our revenue-generating activities that are within the scope of ASC 606, which are presented in our consolidated statements of income as components of non-interest income are as follows: Trust and investment service fees – The Corporation provides trust, investment management custody and irrevocable life insurance trust services to customers. Such services are rendered in accordance with the underlying contracts for which fees are earned. The Corporation’s performance obligations are generally satisfied, and the related revenue recognized, over the period in which the service is provided. Payment for services rendered is primarily received in the following month. Income from mutual fund, annuity and insurance sales – The Corporation sells mutual funds, annuity and insurance products to its customers. The Corporation’s performance obligation is met upon the signing of the product agreement and, in certain cases, a time component may exist when the customer has the right to rescind the agreement with or without penalty. The Corporation recognizes revenues upon delivery of the product or service unless there is a time component in which case revenues are recognized utilizing the expected value method. Payment for services rendered is primarily received in the following month. Service charges on deposits accounts – These represent general service fees for monthly account maintenance and activity- or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Other service charges include revenue from processing wire transfers, cashier’s checks and other services. Revenue is recognized when the performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to the customers’ accounts. Other noninterest income – The Corporation evaluated individual components of other noninterest income, such as credit card merchant fees, credit and gift card fees and ATM fees. Debit card income is primarily comprised of interchange fees earned whenever the Corporation’s debit cards are processed through payment networks, such as Visa. Credit and gift card income is realized through a third party provider who issues cards as private label in the Corporation’s name. ATM fees are primarily generated when a non-Corporation cardholder uses a Corporation ATM. The income is primarily comprised as a percentage of interchange fees earned whenever the issuer’s card is processed through card payment networks, such as Visa or Pulse. Merchant services income is realized through a third party service provider who is contracted by the Corporation under a referral arrangement. Such fees represent fees charged to merchants to process their debit card transactions. The Corporation’s performance obligation for these fees are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received within a one to three day lag or in the following month. Per Share Data All per share computations include the effect of stock dividends distributed. The computation of net income per share is provided in the table below. Three months ended March 31, (in thousands, except per share data) 2020 2019 Net (loss) income $ (2,989) $ 4,091 Weighted average shares outstanding (basic) 9,759 9,927 Effect of dilutive stock options 53 70 Weighted average shares outstanding (diluted) 9,812 9,997 Basic (loss) earnings per share $ (0.31) $ 0.41 Diluted (loss)earnings per share $ (0.31) $ 0.41 Comprehensive Income Accounting principles generally accepted in the United States require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the balance sheet, such items, along with net income, are components of comprehensive income. Cash Flow Information For purposes of the statements of cash flows, the Corporation considers interest bearing deposits with banks, cash and due from banks, and federal funds sold to be cash and cash equivalents. Supplemental cash flow information is provided in the table below. Three months ended March 31, (dollars in thousands) 2020 2019 Cash paid during the period for: Income taxes $ 0 $ 300 Interest $ 4,877 $ 5,203 Noncash investing and financing activities: Transfer of loans to foreclosed real estate $ 121 $ 0 Initial recognition of financing lease right-of-use assets $ 0 $ 1,358 Initial recognition of financing lease liabilities $ 0 $ 1,480 Initial recognition of operating lease right-of-use assets $ 186 $ 2,958 Initial recognition of operating lease liabilities $ 186 $ 3,035 Increase in other liabilities for purchase of securities settling after quarter end $ 0 $ 1,004 Recent Accounting Pronouncements Pronouncements Adopted in 2020 In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350). This standard simplifies the test for goodwill impairment by eliminating the requirement to calculate the implied fair value of goodwill, which currently is Step 2 of the goodwill impairment test. Instead, the goodwill impairment test will consist of a single quantitative step comparing the fair value of the reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and any interim goodwill impairment tests in reporting periods beginning after December 15, 2019. The Corporation adopted this standard effective with its January 1, 2020 goodwill impairment test. The adoption of this standard did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement. The amendments in this update modify the disclosure requirements in Topic 820, Fair Value Measurement. The following disclosure requirements were removed: the amount of and reasons for transfers between Level 1 and Level 2, the policy for timing of transfers between levels, and the valuation processes for Level 3 fair value measurements. The following disclosure requirements were modified: for investments in certain entities that calculate net asset value, and entity is required to disclose the timing of liquidation of investee’s assets and the amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. The following disclosure requirements were added: the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The update is effective for fiscal years beginning after December 15, 2019. The adoption of this update did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with those incurred to develop or obtain internal-use software. This standard requires application of Subtopic 350-40 to determine which costs to implement the service contract would be capitalized as an asset and which costs would be expensed. The amendments in the update are effective for the years beginning after December 15, 2019. The adoption of this update did not have a material impact on its consolidated financial statements. Pronouncements Not Yet Effective In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). This standard adds a new Topic 326 which requires companies to measure and record impairment on financial instruments at the time of origination using the expected credit loss (CECL) model. The CECL model calculates impairment based on historical experience, current conditions, and reasonable and supportable forecasts, and reflects the organization’s current estimate of all expected credit losses over the contractual term of its financial assets. The new standard was delayed and is now effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Corporation expects the provisions of ASU No. 2016-13 to impact the Corporation’s consolidated financial statements, in particular, the level of the reserve for credit losses. The Corporation is continuing to evaluate the extent of the potential impact and expects that portfolio composition and economic conditions at the time of adoption will be a factor. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20). The amendments in this update remove disclosures that are no longer considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. The update is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Corporation is currently evaluating the impact of the adoption of this update on its disclosures. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2020 | |
Securities [Abstract] | |
Securities | Note 2 – Securities A summary of securities available-for-sale at March 31, 2020 and December 31, 2019 is provided below. The securities available-for-sale portfolio is generally comprised of high quality debt instruments, principally obligations of the United States government or agencies thereof and investments in the obligations of states and municipalities. The majority of municipal bonds in the portfolio are general obligation bonds, which can draw upon multiple sources of revenue, including taxes, for payment. Only a few bonds are revenue bonds, which are dependent upon a single revenue stream for payment, but they are for critical services such as water and sewer. In many cases, municipal debt issues are insured or, in the case of school districts of selected states, backed by specific loss reserves. At March 31, 2020 , while 90 percent of the fair value of the municipal bond portfolio was concentrated in the Commonwealth of Pennsylvania, the portfolio was intentionally distributed to limit exposure with the largest issuer at $ 2 .3 million. Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value March 31, 2020 Debt securities: U.S. Treasury notes $ 4,998 $ 88 $ 0 $ 5,086 U.S. agency mortgage-backed, residential 135,895 4,809 (2) 140,702 State and municipal 24,656 256 0 24,912 Corporate debt 990 48 0 1,038 Total debt securities $ 166,539 $ 5,201 $ (2) $ 171,738 December 31, 2019 Debt securities: U.S. Treasury notes $ 9,834 $ 119 $ 0 $ 9,953 U.S. agency 15,000 0 (77) 14,923 U.S. agency mortgage-backed, residential 106,799 1,443 (87) 108,155 State and municipal 26,385 260 (1) 26,644 Total debt securities $ 158,018 $ 1,822 $ (165) $ 159,675 The amortized cost and estimated fair value of debt securities at March 31, 2020 by contractual maturity are shown below. Actual maturities may differ from contractual maturities if call options on select debt issues are exercised in the future. Mortgage-backed securities are included in the maturity categories based on average expected life. Available-for-sale Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 6,671 $ 6,761 Due after one year through five years 102,796 105,798 Due after five years through ten years 34,313 35,189 Due after ten years 22,759 23,990 Total debt securities $ 166,539 $ 171,738 Gross realized gains and losses on sales of securities available-for-sale are shown below. Realized gains and losses are computed on the basis of specific identification of the adjusted cost of each security and are shown net as a separate line item in the income statement. Proceeds from the sale of securities were $19,852,000 , with a related tax expense of $3,000 for the three months ended March 31, 2020. Proceeds from the sale of securities were $6,017,000 , with a related tax benefit of $1,000 for the three months ended March 31, 2019. Three months ended March 31, (dollars in thousands) 2020 2019 Realized gains $ 74 $ 3 Realized losses (59) (7) Net gains (losses) $ 15 $ (4) Investment securities having a carrying value of $126,161,000 and $128,427 ,000 on March 31, 2020 and December 31, 2019 , respectively, were pledged to secure public and trust deposits, repurchase agreements and other short-term borrowings. The table below shows gross unrealized losses and fair value, aggregated by investment category and length of time, for securities that have been in a continuous unrealized loss position, at March 31, 2020 and December 31, 2019 . Less than 12 months 12 months or more Total Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses March 31, 2020 Debt securities: U.S. agency mortgage-backed, residential 2 773 (2) 0 0 0 2 773 (2) Total temporarily impaired debt securities, available-for-sale 2 $ 773 $ (2) 0 $ 0 $ 0 2 $ 773 $ (2) December 31, 2019 Debt securities: U.S. agency 1 4,983 (17) 2 9,940 (60) 3 14,923 (77) U.S. agency mortgage-backed, residential 12 21,821 (82) 2 1,163 (5) 14 22,984 (87) State and municipal 1 466 (1) 0 0 0 1 466 (1) Total temporarily impaired debt securities, available-for-sale 14 $ 27,270 $ (100) 4 $ 11,103 $ (65) 18 $ 38,373 $ (165) Securities available-for-sale are analyzed quarterly for possible other-than-temporary impairment. The analysis considers, among other factors: 1) whether the Corporation has the intent to sell its securities prior to market recovery or maturity; 2) whether it is more likely than not that the Corporation will be required to sell its securities prior to market recovery or maturity; 3) default rates/history by security type; 4) third-party securities ratings; 5) third-party guarantees; 6) subordination; 7) payment delinquencies; 8) nature of the issuer; and 9) current financial news. The Corporation believes that unrealized losses at March 31, 2020 were primarily the result of changes in market interest rates and that the Corporation has the ability to hold these investments for a time necessary to recover the amortized cost. Through March 31, 2020 the Corporation has collected all interest and principal on its investment securities as scheduled. The Corporation believes that collection of the contractual principal and interest is probable and, therefore, all impairment is considered to be temporary. |
Restricted Investment In Bank S
Restricted Investment In Bank Stocks | 3 Months Ended |
Mar. 31, 2020 | |
Restricted Investment In Bank Stocks [Abstract] | |
Restricted Investment In Bank Stocks | Note 3—Restricted Investment in Bank Stocks Restricted stock, which represents required investments in the common stock of correspondent banks, is carried at cost and, as of March 31, 2020 and December 31, 2019 , consisted primarily of the common stock of the Federal Home Loan Bank of Pittsburgh (“FHLBP”) and, to a lesser degree, Atlantic Community Bancshares, Inc. (“ACBI”), the parent company of Atlantic Community Bankers Bank (“ACBB”). Under the FHLBP’s Capital Plan member banks, including PeoplesBank, are required to maintain a minimum stock investment. The FHLBP uses a formula to determine the minimum stock investment, which is based on the volume of loans outstanding, unused borrowing capacity and other factors. The FHLBP paid dividends during the periods ended March 31, 2020 and 2019 . The FHLBP restricts the repurchase of the excess capital stock of member banks. The amount of excess capital stock that can be repurchased from any member is currently the lesser of five percent of the member’s total capital stock outstanding or its excess capital stock outstanding. Management evaluates the restricted stock for impairment in accordance with FASB ASC Topic 942 . Management’s determination of whether these investments are impaired is based on their a ssessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. Using the FHLBP as an example, the determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as: (1) the significance of the decline in net assets of the FHLBP as compared to the capital stock amount for the FHLBP and the length of time this situation has persisted; (2) commitments by the FHLBP to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLBP; and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLBP. Management believes no impairment charge was necessary related to the restricted stock during the periods ended March 31, 2020 and 2019 . |
Loans
Loans | 3 Months Ended |
Mar. 31, 2020 | |
Loans [Abstract] | |
Loans | Note 4—Loans Loan Portfolio Composition The table below provides the composition of the loan portfolio at March 31, 2020 and December 31, 2019 . The portfolio is comprised of two segments, commercial and consumer loans. The commercial loan segment is disaggregated by industry class which allows the Corporation to monitor risk and performance. Those industries representing the largest dollar investment and most risk are listed separately. The “Other” commercial loans category is comprised of various industries. The consumer related segment is comprised of residential mortgages, home equity and other consumer loans. The Corporation has not engaged in sub-prime residential mortgage originations. March 31, % Total December 31, % Total (dollars in thousands) 2020 Loans 2019 Loans Builder & developer $ 152,432 10.3 $ 159,312 10.6 Commercial real estate investor 207,397 14.0 207,227 13.8 Residential real estate investor 254,817 17.3 247,969 16.5 Hotel/Motel 79,729 5.4 80,260 5.3 Wholesale & retail 99,484 6.7 109,238 7.3 Manufacturing 82,351 5.6 86,511 5.7 Agriculture 78,792 5.3 80,719 5.4 Other 303,120 20.5 313,371 20.7 Total commercial related loans 1,258,122 85.1 1,284,607 85.3 Residential mortgages 92,624 6.3 94,868 6.3 Home equity 101,547 6.9 100,827 6.7 Other 24,368 1.7 24,833 1.7 Total consumer related loans 218,539 14.9 220,528 14.7 Total loans $ 1,476,661 100.0 $ 1,505,135 100.0 Loan Risk Ratings The Corporation’s internal risk rating system follows regulatory guidance as to risk classifications and definitions. Every approved loan is assigned a risk rating. Generally, risk ratings for commercial related loans and residential mortgages held for investment are determined by a formal evaluation of risk factors performed by the Corporation’s underwriting staff. For consumer loans, and commercial loans up to $500,000, the Corporation uses third-party credit scoring software models for risk rating purposes. The loan portfolio is monitored on a continuous basis by loan officers, loan review personnel and senior management. Adjustments of loan risk ratings are generally performed by the Special Asset Committee (the ‘Committee’), which includes senior management. The Committee, which typically meets at least quarterly, makes changes, as appropriate, to risk ratings when it becomes aware of credit events such as payment delinquency, cessation of a business or project, bankruptcy or death of the borrower, or changes in collateral value. In addition to review by the Committee, existing loans are monitored by the primary loan officer and loan review to determine if any changes, upward or downward, in risk ratings are appropriate. An external consultant is also used to review a portion of the existing portfolio and recommend rating changes as appropriate. Primary loan officers and internal loan review may downgrade existing loans, except to nonaccrual status. Only the Committee, Executive Chairman or President/CEO may upgrade a loan that is classified. The Corporation uses ten risk ratings to grade commercial loans. The first seven ratings, representing the lowest risk, are combined and given a “pass” rating. A pass rating is a satisfactory credit rating, which applies to a loan that is expected to perform in accordance with the loan agreement and has a low probability of loss. A loan rated “special mention” has a potential weakness which may, if not corrected, weaken the loan or inadequately protect the Corporation’s position at some future date. A loan rated “substandard” is inadequately protected by the current net worth or paying capacity of the borrower, or of the collateral pledged. A “substandard” loan has a well-defined weakness or weaknesses that could jeopardize liquidation of the loan, which exposes the Corporation to loss if the deficiencies are not corrected. When circumstances indicate that collection of the loan is doubtful, the loan is risk-rated “nonaccrual,” the accrual of interest income is discontinued, and any unpaid interest previously credited to income is reversed. The table below does not include the regulatory classification of “doubtful,” nor does it include the regulatory classification of “loss”, because the Corporation promptly charges off loan losses. The table below presents a summary of loan risk ratings by loan class at March 31, 2020 and December 31, 2019 . Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total March 31, 2020 Builder & developer $ 145,847 $ 5,063 $ 293 $ 1,229 $ 152,432 Commercial real estate investor 201,223 4,849 1,100 225 207,397 Residential real estate investor 245,249 3,418 194 5,956 254,817 Hotel/Motel 67,219 12,510 0 0 79,729 Wholesale & retail 80,750 9,813 1,821 7,100 99,484 Manufacturing 75,673 988 4,653 1,037 82,351 Agriculture 71,321 3,690 403 3,378 78,792 Other 275,555 6,383 13,777 7,405 303,120 Total commercial related loans 1,162,837 46,714 22,241 26,330 1,258,122 Residential mortgage 92,268 129 74 153 92,624 Home equity 100,820 60 0 667 101,547 Other 24,142 0 7 219 24,368 Total consumer related loans 217,230 189 81 1,039 218,539 Total loans $ 1,380,067 $ 46,903 $ 22,322 $ 27,369 $ 1,476,661 December 31, 2019 Builder & developer $ 151,672 $ 6,503 $ 252 $ 885 $ 159,312 Commercial real estate investor 201,967 3,890 1,145 225 207,227 Residential real estate investor 238,216 3,780 202 5,771 247,969 Hotel/Motel 67,732 12,528 0 0 80,260 Wholesale & retail 89,556 10,513 1,954 7,215 109,238 Manufacturing 76,721 1,058 7,597 1,135 86,511 Agriculture 76,350 1,123 404 2,842 80,719 Other 277,634 16,490 13,748 5,499 313,371 Total commercial related loans 1,179,848 55,885 25,302 23,572 1,284,607 Residential mortgage 94,388 131 74 275 94,868 Home equity 100,089 61 0 677 100,827 Other 24,600 0 7 226 24,833 Total consumer related loans 219,077 192 81 1,178 220,528 Total loans $ 1,398,925 $ 56,077 $ 25,383 $ 24,750 $ 1,505,135 Impaired Loans The table below presents a summary of impaired loans at March 31, 2020 and December 31, 2019. G enerally, impaired loans are all loans risk rated nonaccrual or classified troubled debt restructuring. An allowance is established for individual loans that are commercial related where the Corporation has doubt as to the full recovery of the outstanding principal balance. Typically, impaired consumer related loans are partially or fully charged-off eliminating the need for specific allowance. The recorded investment represents outstanding unpaid principal loan balances adjusted for payments collected on a non-cash basis and charge-offs. With No Allowance With A Related Allowance Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid (dollars in thousands) Investment Principal Investment Principal Allowance Investment Principal March 31, 2020 Builder & developer $ 1,293 $ 1,332 $ 142 $ 143 $ 52 $ 1,435 $ 1,475 Commercial real estate investor 1,325 1,325 0 0 0 1,325 1,325 Residential real estate investor 953 975 5,003 5,124 1,906 5,956 6,099 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 271 271 7,069 7,760 3,363 7,340 8,031 Manufacturing 12 12 1,025 1,170 487 1,037 1,182 Agriculture 2,412 2,439 966 966 537 3,378 3,405 Other commercial 3,771 11,413 3,634 3,789 1,506 7,405 15,202 Total impaired commercial related loans 10,037 17,767 17,839 18,952 7,851 27,876 36,719 Residential mortgage 153 153 0 0 0 153 153 Home equity 667 667 0 0 0 667 667 Other consumer 219 225 0 0 0 219 225 Total impaired consumer related loans 1,039 1,045 0 0 0 1,039 1,045 Total impaired loans $ 11,076 $ 18,812 $ 17,839 $ 18,952 $ 7,851 $ 28,915 $ 37,764 December 31, 2019 Builder & developer $ 621 $ 651 $ 473 $ 474 $ 238 $ 1,094 $ 1,125 Commercial real estate investor 1,370 1,371 0 0 0 1,370 1,371 Residential real estate investor 734 753 5,037 5,137 1,873 5,771 5,890 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 273 273 7,184 7,811 2,537 7,457 8,084 Manufacturing 13 13 1,122 1,220 463 1,135 1,233 Agriculture 1,784 1,791 1,058 1,058 701 2,842 2,849 Other commercial 1,864 1,974 3,635 3,888 1,608 5,499 5,862 Total impaired commercial related loans 6,659 6,826 18,509 19,588 7,420 25,168 26,414 Residential mortgage 275 277 0 0 0 275 277 Home equity 677 677 0 0 0 677 677 Other consumer 226 231 0 0 0 226 231 Total impaired consumer related loans 1,178 1,185 0 0 0 1,178 1,185 Total impaired loans $ 7,837 $ 8,011 $ 18,509 $ 19,588 $ 7,420 $ 26,346 $ 27,599 The table below presents a summary of average impaired loans and related interest income that was included in net income for the three months ended March 31, 2020 and 2019 . With No Related Allowance With A Related Allowance Total Average Total Average Total Average Total Recorded Interest Recorded Interest Recorded Interest (dollars in thousands) Investment Income Investment Income Investment Income Three months ended March 31, 2020 Builder & developer $ 957 12 308 0 $ 1,265 $ 12 Commercial real estate investor 1,347 22 0 0 1,347 22 Residential real estate investor 844 6 5,020 0 5,864 6 Hotel/Motel 0 0 0 0 0 0 Wholesale & retail 272 2 7,127 0 7,399 2 Manufacturing 13 3 1,073 0 1,086 3 Agriculture 2,098 19 1,012 0 3,110 19 Other commercial 2,817 31 3,634 0 6,451 31 Total impaired commercial related loans 8,348 95 18,174 0 26,522 95 Residential mortgage 214 3 0 0 214 3 Home equity 672 21 0 0 672 21 Other consumer 223 3 0 0 223 3 Total impaired consumer related loans 1,109 27 0 0 1,109 27 Total impaired loans $ 9,457 $ 122 $ 18,174 $ 0 $ 27,631 $ 122 Three months ended March 31, 2019 Builder & developer $ 1,124 $ 14 $ 69 $ 0 $ 1,193 $ 14 Commercial real estate investor 3,610 34 0 0 3,610 34 Residential real estate investor 615 5 4,346 0 4,961 5 Hotel/Motel 0 0 0 0 0 0 Wholesale & retail 2,723 3 7,402 0 10,125 3 Manufacturing 669 5 1,642 0 2,311 5 Agriculture 658 13 0 0 658 13 Other commercial 7,601 0 4,870 0 12,471 0 Total impaired commercial related loans 17,000 74 18,329 0 35,329 74 Residential mortgage 548 6 0 0 548 6 Home equity 604 6 0 0 604 6 Other consumer 277 4 0 0 277 4 Total impaired consumer related loans 1,429 16 0 0 1,429 16 Total impaired loans $ 18,429 $ 90 $ 18,329 $ 0 $ 36,758 $ 90 Past Due and Nonaccrual The performance and credit quality of the loan portfolio is also monitored by using an aging schedule that shows the length of time a loan is past due. The table below presents a summary of past due loans, nonaccrual loans and current loans by loan segment and class at March 31, 2020 and December 31, 2019 . ≥ 90 Days 30-59 60-89 Past Due Total Past Days Days and Due and Total (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Current Loans March 31, 2020 Builder & developer $ 775 $ 0 $ 40 $ 1,229 $ 2,044 $ 150,388 $ 152,432 Commercial real estate investor 0 0 0 225 225 207,172 207,397 Residential real estate investor 0 0 0 5,956 5,956 248,861 254,817 Hotel/Motel 0 0 0 0 0 79,729 79,729 Wholesale & retail 200 0 0 7,100 7,300 92,184 99,484 Manufacturing 394 0 0 1,037 1,431 80,920 82,351 Agriculture 403 0 0 3,378 3,781 75,011 78,792 Other 123 0 680 7,405 8,208 294,912 303,120 Total commercial related loans 1,895 0 720 26,330 28,945 1,229,177 1,258,122 Residential mortgage 1,494 0 103 153 1,750 90,874 92,624 Home equity 601 10 0 667 1,278 100,269 101,547 Other 1,404 6 7 219 1,636 22,732 24,368 Total consumer related loans 3,499 16 110 1,039 4,664 213,875 218,539 Total loans $ 5,394 $ 16 $ 830 $ 27,369 $ 33,609 $ 1,443,052 $ 1,476,661 December 31, 2019 Builder & developer $ 0 $ 0 $ 43 $ 885 $ 928 $ 158,384 $ 159,312 Commercial real estate investor 0 0 0 225 225 207,002 207,227 Residential real estate investor 295 0 0 5,771 6,066 241,903 247,969 Hotel/Motel 0 0 0 0 0 80,260 80,260 Wholesale & retail 0 0 0 7,215 7,215 102,023 109,238 Manufacturing 409 0 0 1,135 1,544 84,967 86,511 Agriculture 14 0 0 2,842 2,856 77,863 80,719 Other 463 1,865 120 5,499 7,947 305,424 313,371 Total commercial related loans 1,181 1,865 163 23,572 26,781 1,257,826 1,284,607 Residential mortgage 0 70 104 275 449 94,419 94,868 Home equity 249 276 0 677 1,202 99,625 100,827 Other 750 68 13 226 1,057 23,776 24,833 Total consumer related loans 999 414 117 1,178 2,708 217,820 220,528 Total loans $ 2,180 $ 2,279 $ 280 $ 24,750 $ 29,489 $ 1,475,646 $ 1,505,135 Troubled Debt Restructurings Loans classified as troubled debt restructurings (TDRs) are designated impaired and arise when the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted with respect to these loans generally involve an extension of the maturity date or a below market interest rate relative to new debt with similar credit risk. Generally, these loans are secured by real estate. If repayment of the loan is determined to be collateral dependent, the loan is evaluated for impairment loss based on the fair value of the collateral. For loans that are not collateral dependent, the present value of expected future cash flows, discounted at the loan’s original effective interest rate, is used to determine any impairment loss. A nonaccrual TDR represents a nonaccrual loan, as previously defined, which includes an economic concession. Nonaccrual TDRs are restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive payments after the modification and future principal and interest payments are reasonably assured. In contrast, an accruing TDR represents a loan that, at the time of the modification, has a demonstrated history of payments and management believes that future loan payments are reasonably assured under the modified terms. TDRs included as impaired loan totaled $1,598,000 and $1,650,000 as of March 31, 2020 and March 31, 2019, respectively. There are no commitments to lend additional amounts to these TDRs as of March 31, 2020 and March 31, 2019. The table below shows loans whose terms have been modified under TDRs during the three months ended March 31, 2020 and 2019 . There were no impairment losses recognized on these TDRs. There were no defaults during the three months ended March 31, 2020 and March 31, 2019 for TDRs entered into during the previous 12 month period. As of March 31, 2020, there were no modifications completed under the CARES Act. As of April 30, 2020, there have been modifications to 35 consumer loans totaling approximately $2,000,000 and 13 commercial loans totaling approximately $41,000,000 under the CARES Act, which are not considered TDRs. Modifications Pre-Modification Post-Modification Number Outstanding Outstanding Recorded of Recorded Recorded Investment (dollars in thousands) Contracts Investments Investments at Period End Three months ended: March 31, 2020 None March 31, 2019 Commercial related loans accruing 1 $ 63 $ 63 $ 61 |
Allowance For Loan Losses
Allowance For Loan Losses | 3 Months Ended |
Mar. 31, 2020 | |
Allowance For Loan Losses [Abstract] | |
Allowance For Loan Losses | NOTE 5 – Allowance for Loan Losses The table below shows the activity in and the composition of the allowance for loan losses by loan segment and class detail as of and for the three months ended March 31, 2020 and 2019 . Allowance for Loan Losses January 1, 2020 March 31, 2020 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,263 $ (170) $ 0 $ 133 $ 2,226 Commercial real estate investor 2,565 0 0 117 2,682 Residential real estate investor 4,632 0 3 124 4,759 Hotel/Motel 742 0 0 314 1,056 Wholesale & retail 3,575 0 7 976 4,558 Manufacturing 1,252 0 0 64 1,316 Agriculture 1,304 0 0 (164) 1,140 Other commercial 4,204 (7,511) 0 7,772 4,465 Total commercial related loans 20,537 (7,681) 10 9,336 22,202 Residential mortgage 158 0 0 77 235 Home equity 203 0 0 101 304 Other consumer 167 (5) 13 (78) 97 Total consumer related loans 528 (5) 13 100 636 Unallocated 1 0 0 (1) 0 Total $ 21,066 $ (7,686) $ 23 $ 9,435 $ 22,838 Allowance for Loan Losses January 1, 2019 March 31, 2019 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,835 $ 0 $ 0 $ 132 $ 2,967 Commercial real estate investor 2,636 0 0 16 2,652 Residential real estate investor 3,945 0 3 62 4,010 Hotel/Motel 732 0 0 67 799 Wholesale & retail 1,813 0 0 (12) 1,801 Manufacturing 1,287 0 0 (21) 1,266 Agriculture 579 0 0 (1) 578 Other commercial 4,063 (46) 0 1,168 5,185 Total commercial related loans 17,890 (46) 3 1,411 19,258 Residential mortgage 126 0 0 6 132 Home equity 265 (20) 1 (51) 195 Other consumer 144 (60) 9 106 199 Total consumer related loans 535 (80) 10 61 526 Unallocated 719 0 0 (422) 297 Total $ 19,144 $ (126) $ 13 $ 1,050 $ 20,081 The table below shows the allowance amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated fo r March 31, 2020, December 31, 2019 and March 31, 2019 . Allowance for Loan Losses Loans Individually Collectively Individually Collectively Evaluated For Evaluated For Evaluated For Evaluated For (dollars in thousands) Impairment Impairment Balance Impairment Impairment Balance March 31, 2020 Builder & developer $ 52 $ 2,174 $ 2,226 $ 1,435 $ 150,997 $ 152,432 Commercial real estate investor 0 2,682 2,682 1,325 206,072 207,397 Residential real estate investor 1,906 2,853 4,759 5,956 248,861 254,817 Hotel/Motel 0 1,056 1,056 0 79,729 79,729 Wholesale & retail 3,363 1,195 4,558 7,340 92,144 99,484 Manufacturing 487 829 1,316 1,037 81,314 82,351 Agriculture 537 603 1,140 3,378 75,414 78,792 Other commercial 1,506 2,959 4,465 7,405 295,715 303,120 Total commercial related 7,851 14,351 22,202 27,876 1,230,246 1,258,122 Residential mortgage 0 235 235 153 92,471 92,624 Home equity 0 304 304 667 100,880 101,547 Other consumer 0 97 97 219 24,149 24,368 Total consumer related 0 636 636 1,039 217,500 218,539 Unallocated 0 0 0 0 0 0 Total $ 7,851 $ 14,987 $ 22,838 $ 28,915 $ 1,447,746 $ 1,476,661 December 31, 2019 Builder & developer $ 238 $ 2,025 $ 2,263 $ 1,094 $ 158,218 $ 159,312 Commercial real estate investor 0 2,565 2,565 1,370 205,857 207,227 Residential real estate investor 1,873 2,759 4,632 5,771 242,198 247,969 Hotel/Motel 0 742 742 0 80,260 80,260 Wholesale & retail 2,537 1,038 3,575 7,457 101,781 109,238 Manufacturing 463 789 1,252 1,135 85,376 86,511 Agriculture 701 603 1,304 2,842 77,877 80,719 Other commercial 1,608 2,596 4,204 5,499 307,872 313,371 Total commercial related 7,420 13,117 20,537 25,168 1,259,439 1,284,607 Residential mortgage 0 158 158 275 94,593 94,868 Home equity 0 203 203 677 100,150 100,827 Other consumer 0 167 167 226 24,607 24,833 Total consumer related 0 528 528 1,178 219,350 220,528 Unallocated 0 1 1 0 0 0 Total $ 7,420 $ 13,646 $ 21,066 $ 26,346 $ 1,478,789 $ 1,505,135 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2020 | |
Deposits | |
Deposits | Note 6—Deposits The composition of deposits as of March 31, 2020 and December 31, 2019 is shown below. The aggregate amount of demand deposit overdrafts that were reclassified as loans is $68,000 at March 31, 2020 , compared to $86,000 at December 31, 2019. March 31, December 31, (dollars in thousands) 2020 2019 Noninterest bearing demand $ 274,382 $ 273,968 Interest bearing demand 182,414 174,248 Money market 531,925 513,948 Savings 90,411 85,489 Time deposits less than $100 309,597 303,527 Time deposits $100 to $250 183,820 175,477 Time deposits $250 or more 66,798 63,907 Total deposits $ 1,639,347 $ 1,590,564 |
Short-Term Borrowings And Long-
Short-Term Borrowings And Long-Term Debt | 3 Months Ended |
Mar. 31, 2020 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Short-Term Borrowings And Long-Term Debt | Note 7—Short-Term Borrowings and Long-Term Debt Short-term borrowings consist of securities sold under agreements to repurchase, federal funds purchased and other borrowings. At March 31, 2020 , the balance of securities sold under agreements to repurchase was $6,196,000 compared to $7,925,000 at December 31, 2019 . At March 31, 2020 and December 31, 2019 , there were no other short-term borrowings. The following table presents a summary of long-term debt as of March 31, 2020 and December 31, 2019 . PeoplesBank’s long-term debt obligations to the FHLBP are fixed rate instruments. Under terms of a blanket collateral agreement with the FHLBP, the obligations are secured by FHLBP stock and PeoplesBank qualifying loan receivables, principally real estate secured loans. March 31, December 31, (dollars in thousands) 2020 2019 PeoplesBank’s obligations: Federal Home Loan Bank of Pittsburgh (FHLBP) Due March 2020 , 1.86% 0 10,000 Due June 2020 , 1.87% 15,000 15,000 Due June 2020 , 2.70% 10,000 10,000 Due June 2021 , 2.81% 10,000 10,000 Due June 2021 , 2.14% 15,000 15,000 Due May 2022 , 2.93% 10,000 10,000 Total FHLBP 60,000 70,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 2.76% , floating rate based on 3 month LIBOR plus 2.02% , callable quarterly 3,093 3,093 Due 2036 , 3.37% floating rate based on 3 month LIBOR plus 1.54% , callable quarterly 7,217 7,217 Total junior subordinated debt 10,310 10,310 Lease obligations included in long-term debt: Finance lease liabilities 1,317 1,322 Total long-term debt $ 71,627 $ 81,632 At March 31, 2020 and December 31, 2019 , municipal deposit letters of credit issued by the FHLBP on behalf of PeoplesBank naming applicable municipalities as beneficiaries were $42,000,000 . The letters of credit took the place of securities pledged to the municipalities for their deposits maintained at PeoplesBank. In June 2006, Codorus Valley formed CVB Statutory Trust No. 2, a wholly-owned special purpose subsidiary whose sole purpose was to facilitate a pooled trust preferred debt issuance of $7,217,000 . In November 2004, Codorus Valley formed CVB Statutory Trust No. 1 to facilitate a pooled trust preferred debt issuance of $3,093,000 . The Corporation owns all of the common stock of these nonbank subsidiaries, and the debentures are the sole assets of the Trusts. The accounts of both Trusts are not consolidated for financial reporting purposes in accordance with FASB ASC 810. For regulatory capital purposes, all of the Corporation’s trust preferred securities qualified as Tier 1 capital for all reported periods. Trust preferred securities are subject to capital limitations under the FDIC’s risk-based capital guidelines. The Corporation used the net proceeds from these offerings to fund its operations. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Leases | Note 8—Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. On January 1, 2019, the Corporation adopted ASU 2016-02 “ Leases” (Topic 842) and all subsequent ASUs that modified Topic 842. For the Corporation, Topic 842 affected the accounting treatment for operating lease agreements in which the Corporation is the lessee. Substantially all of the leases in which the Corporation is the lessee are comprised of real estate property, ATM locations, and office space. Substantially all of our leases are classified as operating leases, and therefore, were previously not recognized on the Corporation’s consolidated statements of condition. With the adoption of Topic 842, operating lease agreements are required to be recognized on the consolidated statements of condition as a right-of-use (“ROU”) asset and a corresponding lease liability. The Corporation has one finance lease for one financial center. Leases with an initial term of 12 months or less are not recorded on the consolidated statement of condition. All other leases have remaining lease terms of 1 year to 25 years, some of which include options to extend. Upon opening a new financial center, we typically install brand-specific leasehold improvements which are depreciated over the shorter of the useful life or length of the lease. To the extent that the initial lease term of the related lease is less than the useful life of the leasehold improvements and, taking into consideration the dollar amount of the improvements, we conclude that it is reasonably certain that a renewal option will be exercised, the renewal period is included in the lease term, and the related payments are reflected in the ROU asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Corporation utilizes its incremental borrowing rate at lease inception, on an amortizing and collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was used. For the Corporation’s financing leases, the Corporation utilized its incremental borrowing rate at lease inception. All of our leases include fixed rental payments. We commonly enter into leases under which the lease payments increase at pre-determined dates based on the change in the consumer price index. While the majority of our leases are gross leases, we also have a number of leases in which we make separate payments to the lessor based on the lessor’s property and casualty insurance cost and the property taxes assessed on the property, as well as a portion of the common area maintenance associated with the property. We have elected the practical expedient not to separate lease and nonlease components for all of our building leases. The components of lease expense were as follows: Three Months Ended March 31, (dollars in thousands) 2020 2019 Operating lease cost $ 203 $ 188 Finance lease cost: Amortization of right-of-use assets $ 12 $ 17 Interest on lease liability 12 13 Total finance lease cost $ 24 $ 30 Total lease cost $ 227 $ 218 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2020 2019 Operating cash flows from operating leases $ 208 $ 193 Operating cash flows from financing leases 12 13 Financing cash flows from financing leases 6 11 Right-of-use assets obtained in exchange for new lease obligations: Operating leases 186 0 Finance leases 0 0 Amounts recognized as right-of-use assets related to finance leases are included in fixed assets in the accompanying statement of financial position, while related lease liabilities are included in long-term debt. Supplemental balance sheet information related to leases was as follows: March 31, December 31, 2020 2019 Assets: Operating leases right-of-use assets $ 3,030 $ 3,021 Finance leases assets 1,123 1,134 Total lease assets $ 4,153 $ 4,155 Liabilities: Operating $ 3,187 $ 3,184 Financing 1,317 1,322 Total lease liabilities $ 4,504 $ 4,506 Weighted Average Remaining Lease Term (years) Operating leases 5.5 5.6 Finance leases 23.9 24.2 Weighted Average Discount Rate Operating leases 2.71% 2.72% Finance leases 3.69% 3.69% Future minimum payments for financing leases and operating leases as of March 31, 2020 and December 31, 2019 were as follows: (dollars in thousands:) March 31, 2020 Year Ending December 31, Operating Leases Finance Leases 2020 $ 622 $ 56 2021 768 75 2022 609 75 2023 491 75 2024 413 75 Thereafter 508 1,669 Total lease payments 3,411 2,025 Less imputed interest (224) (708) Total $ 3,187 $ 1,317 (dollars in thousands:) December 31, 2019 Year Ending December 31, Operating Leases Finance Leases 2020 $ 767 $ 74 2021 706 75 2022 545 75 2023 491 75 2024 413 75 Thereafter 507 1,668 Total lease payments 3,429 2,042 Less imputed interest (245) (720) Total $ 3,184 $ 1,322 |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2020 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | Note 9—Regulatory Matters The Corporation and PeoplesBank are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action that, if imposed, could have a material adverse effect on the Corporation’s financial statements. The net unrealized gain or loss on available for sale securities is not included in computing regulatory capital. Management believes as of March 31, 2020, the Corporation and PeoplesBank meet all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. As of March 31, 2020 and December 31, 2019, the most recent regulatory notifications categorized PeoplesBank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. The table below provides a comparison of the Corporation’s and PeoplesBank’s risk-based capital ratios and leverage ratios to the minimum regulatory requirement for the periods indicated. Minimum for Basel III Well Capitalized Actual Capital Adequacy Minimum (1) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at March 31, 2020 Capital ratios: Common equity Tier 1 $ 182,956 12.24 % $ 104,598 7.00 % n/a n/a Tier 1 risk based 192,956 12.91 127,012 8.50 n/a n/a Total risk based 211,686 14.17 156,897 10.50 n/a n/a Leverage 192,956 10.18 75,787 4.00 n/a n/a at December 31, 2019 Capital ratios: Common equity Tier 1 $ 187,312 12.45 % $ 105,359 7.00 % n/a n/a Tier 1 risk based 197,312 13.11 127,936 8.50 n/a n/a Total risk based 216,154 14.36 158,039 10.50 n/a n/a Leverage 197,312 10.55 74,820 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at March 31, 2020 Capital ratios: Common equity Tier 1 $ 189,263 12.70 % $ 104,356 7.00 % $ 96,902 6.50 % Tier 1 risk based 189,263 12.70 126,717 8.50 119,263 8.00 Total risk based 207,950 13.95 156,533 10.50 149,079 10.00 Leverage 189,263 10.01 75,648 4.00 94,560 5.00 at December 31, 2019 Capital ratios: Common equity Tier 1 $ 193,421 12.88 % $ 105,118 7.00 % $ 97,610 6.50 % Tier 1 risk based 193,421 12.88 127,643 8.50 120,135 8.00 Total risk based 212,220 14.13 157,677 10.50 150,169 10.00 Leverage 193,421 10.36 74,673 4.00 93,341 5.00 (1) To be “well capitalized” under the prompt corrective action provisions in the Basel III framework. “Well capitalized” applies to PeoplesBank only. |
Shareholders' Equity
Shareholders' Equity | 3 Months Ended |
Mar. 31, 2020 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | Note 10—Shareholders’ Equity Stock Dividend Periodically, the Corporation distributes stock dividends on its common stock. The Corporation distributed 5 percent stock dividends on December 10, 2019 and December 11, 2018, which resulted in the issuance of 463,193 and 447,092 additional shares, respectively. Share Repurchase The Corporation’s Board of Directors approved a new Share Repurchase Program (“Program”) in March 2020. Under the newly approved Program, the Corporation is authorized to repurchase up to $5 million of the Corporation’s issued and outstanding common stock. All shares of common stock repurchased pursuant to the Program shall be held as treasury shares and be available for use and reissuance for purposes as and when determined by the Board of Directors including, without limitation, pursuant to the Corporation’s Dividend Reinvestment and Stock Purchase Plan and its equity compensation program. During the first quarter of 2020 the Corporation repurchased 5,335 shares at an average price of $16. 37 . Shortly after the Program began, and in response to COVID-19, the Corporation suspended the Program. |
Contingent Liabilities
Contingent Liabilities | 3 Months Ended |
Mar. 31, 2020 | |
Contingent Liabilities [Abstract] | |
Contingent Liabilities | Note 11—Contingent Liabilities There are no legal proceedings pending against Codorus Valley Bancorp, Inc. or any of its subsidiaries which are expected to have a material impact upon the consolidated financial position and/or operating results of the Corporation, other than routine litigation incidental to the business. Management is not aware of any proceedings known or contemplated by government authorities. |
Guarantees
Guarantees | 3 Months Ended |
Mar. 31, 2020 | |
Guarantees [Abstract] | |
Guarantees | Note 12—Guarantees Codorus Valley does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Standby letters of credit are written conditional commitments issued by PeoplesBank to guarantee the performance of a client to a third party. Generally, all letters of credit, when issued, have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to clients. The Corporation generally holds collateral and/or personal guarantees supporting these commitments. The Corporation had $20,059,000 of standby letters of credit outstanding on March 31, 2020 , compared to $17,253,000 on December 31, 2019 . Management believes that the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding letters of credit. The amount of the liability as of March 31, 2020 and December 31, 2019 , for guarantees under standby letters of credit issued, was not material. Many of the commitments are expected to expire without being drawn upon and, therefore, generally do not present significant liquidity risk to the Corporation or PeoplesBank. |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value of Assets and Liabilities [Abstract] | |
Fair Value of Assets and Liabilities | Note 13—Fair Value of Assets and Liabilities The Corporation uses its best judgment in estimating the fair value of the Corporation’s assets and liabilities; however, there are inherent weaknesses in any estimation technique. The estimated fair value amounts have been measured as of their respective period-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values subsequent to the respective reporting dates may be different than the amounts reported at each period end. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date. GAAP establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels: Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that utilize model-based techniques for which all significant assumptions are observable in the market. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement; inputs to the valuation methodology that utilize model-based techniques for which significant assumptions are not observable in the market; or inputs to the valuation methodology that require significant management judgment or estimation, some of which may be internally developed. Since management maximizes the use of observable inputs and minimizes the use of unobservable inputs when determining fair value, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Management reviews and updates the fair value hierarchy classifications on a quarterly basis. Assets Measured at Fair Value on a Recurring Basis Securities available-for-sale The fair values of investment securities were measured using information from a third-party pricing service. The pricing service uses quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique, used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities, but rather, by relying on the securities’ relationship to other benchmark quoted prices. Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Significant Other Active Markets for Observable Unobservable (dollars in thousands) Total Identical Assets Inputs Inputs March 31, 2020 Securities available-for-sale: U.S. Treasury notes $ 5,086 $ 5,086 $ 0 $ 0 U.S. agency mortgage-backed, residential 140,702 0 140,702 0 State and municipal 24,912 0 24,912 0 Corporate debt 1,038 0 1,038 0 December 31, 2019 Securities available-for-sale: U.S. Treasury notes $ 9,953 $ 9,953 $ 0 $ 0 U.S. agency 14,923 0 14,923 0 U.S. agency mortgage-backed, residential 108,155 0 108,155 0 State and municipal 26,644 0 26,644 0 Assets Measured at Fair Value on a Nonrecurring Basis Impaired loans Impaired loans are those that are accounted for under FASB ASC Topic 310, in which the Corporation has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These loans are included as Level 3 fair values, based on the lowest level of input that is significant to the fair value measurements. At March 31, 2020 , the fair value of impaired loans with a valuation allowance or partial charge-off was $10,672,000 , net of valuation allowances of $7,851,000 and partial charge-offs of $7,634,000 . At December 31, 2019 the fair value of impaired loans with a valuation allowance or charge-off was $11,297,000 , net of valuation allowances of $7,420,000 and charge-offs of $134,000 . Foreclosed Real Estate Other real estate property acquired through foreclosure is initially recorded at fair value of the property at the transfer date less estimated selling cost. Subsequently, other real estate owned is carried at the lower of its carrying value or the fair value less estimated selling cost. Fair value is usually determined based on an independent third-party appraisal of the property or occasionally on a recent sales offer. At March 31, 2020 and December 31, 2019 , the fair value of foreclosed real estate with a valuation allowance or write-down was $797,000 which is net of write-downs of $617,000 . Mortgage Servicing Rights Mortgage servicing rights are initially recorded at fair value upon the sale of residential mortgage loans to secondary market investors. The fair value of servicing rights is based on the present value of estimated future cash flows on pools of mortgages stratified by rate and original time to maturity. Mortgage servicing rights are subsequently evaluated for impairment on a quarterly basis. Significant inputs to the valuation include expected cash flow, expected net servicing income, a cash flow discount rate and the expected life of the underlying loans. At March 3 1 , 20 20 , the fair value of the mortgage servicing rights asset was $740,000 . At December 31, 201 9 , the fair value of the mortgage servicing rights asset was $1,047,000 . Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Active Markets for Significant Other Unobservable (dollars in thousands) Total Identical Assets Observable Inputs Inputs March 31, 2020 Impaired loans $ 10,672 $ 0 $ 0 $ 10,672 Foreclosed real estate 797 0 0 797 Mortgage servicing rights 740 0 0 740 December 31, 2019 Impaired loans $ 11,297 $ 0 $ 0 $ 11,297 Foreclosed real estate 797 0 0 797 Mortgage servicing rights 1,047 0 0 1,047 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Corporation has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Weighted (dollars in thousands) Estimate Techniques Input Range Average March 31, 2020 Impaired loans $ 6,428 Appraisal (1) Appraisal adjustments (2) 15% -50% 41% Impaired loans 4,244 Business asset valuation (3) Business asset valuation adjustments (4) 10% -68% 64% Foreclosed real estate 797 Appraisal (1) Appraisal adjustments (2) 22% - 22% 22% Mortgage Servicing Rights 740 Multiple of annual service fee Estimated prepayment speed based on rate and term 12.9% - 17.7% 16.7% December 31, 2019 Impaired loans $ 5,991 Appraisal (1) Appraisal adjustments (2) 15% - 55% 44% Impaired loans 5,306 Business asset valuation (3) Business asset valuation adjustments (4) 10% - 73% 70% Foreclosed real estate 797 Appraisal (1) Appraisal adjustments (2) 22% - 22% 22% Mortgage Servicing Rights 1,047 Multiple of annual service fee Estimated prepayment speed based on rate and term 7.9% - 8.9% 8.7% (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. (2) Appraisal amounts may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expense adjustments are presented as a percent of the appraisal. (3) Fair value is generally determined through customer-provided financial statements and bankruptcy court documents. (4) Business asset valuation may be adjusted downward by the corporation's management qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses adjustments are presented as a percent of the financial statement book value. The following presents the carrying amounts and estimated fair values of the Corporation’s financial instruments as of March 31, 2020 and December 31, 2019 . Fair Value Estimates (Level 1) (Level 2) (Level 3) Quoted Prices Significant Significant in Active Other Other Carrying Estimated Markets for Observable Unobservable (dollars in thousands) Amount Fair Value Identical Assets Inputs Inputs March 31, 2020 Financial assets Cash and cash equivalents $ 185,258 $ 185,258 $ 185,258 $ 0 $ 0 Securities available-for-sale 171,738 171,738 5,086 166,652 0 Loans held for sale 10,858 11,366 0 11,366 0 Loans, net 1,453,823 1,469,994 0 0 1,469,994 Interest receivable 4,872 4,872 0 4,872 0 Financial liabilities Deposits $ 1,639,347 $ 1,636,607 $ 0 $ 1,636,607 $ 0 Short-term borrowings 6,196 6,196 0 6,196 0 Long-term debt (1) 70,310 70,494 0 61,026 9,468 Interest payable 787 787 0 787 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2019 Financial assets Cash and cash equivalents $ 131,591 $ 131,591 $ 131,591 $ 0 $ 0 Securities available-for-sale 159,675 159,675 9,953 149,722 0 Restricted investment in bank stocks 4,551 4,551 0 4,551 0 Loans held for sale 11,803 12,460 0 12,460 0 Loans, net 1,484,069 1,472,772 0 0 1,472,772 Interest receivable 5,016 5,016 0 5,016 0 Financial liabilities Deposits $ 1,590,564 $ 1,582,179 $ 0 $ 1,582,179 $ 0 Short-term borrowings 7,925 7,925 0 7,925 0 Long-term debt (1) 80,310 79,579 0 70,486 9,093 Interest payable 842 842 0 842 0 Off-balance sheet instruments 0 0 0 0 0 (1) Exclude leases included in Long-term debt |
Assets And Liabilities Subject
Assets And Liabilities Subject To Offsetting | 3 Months Ended |
Mar. 31, 2020 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Assets And Liabilities Subject To Offsetting | Note 14—Assets and Liabilities Subject to Offsetting Securities Sold Under Agreements to Repurchase PeoplesBank enters into agreements with clients in which it sells securities subject to an obligation to repurchase the same securities (“repurchase agreements”). The contractual maturity of the repurchase agreement is overnight and continues until either party terminates the agreement. These repurchase agreements are accounted for as a collateralized financing arrangement (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as a liability (short-term borrowings) in the Corporation’s consolidated financial statements of condition, while the securities underlying the repurchase agreements are appropriately segregated for safekeeping purposes and remain in the respective securities asset accounts. Thus, there is no offsetting or netting of the securities with the repurchase agreement liabilities. Gross amounts Not Offset in Gross Net Amounts the Statements of Condition Gross Amounts of Liabilities Financial Instruments Amounts of Offset in the Presented in U.S. agency Cash Recognized Statements the Statements mortgage-backed, Collateral Net (dollars in thousands) Liabilities of Condition of Condition residential U.S. agency Pledged Amount March 31, 2020 Repurchase Agreements $ 6,196 $ 0 $ 6,196 $ (9,479) $ 0 $ 0 $ (3,283) December 31, 2019 Repurchase Agreements $ 7,925 $ 0 $ 7,925 $ (9,601) $ 0 $ 0 $ (1,676) |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2020 | |
Summary Of Significant Accounting Policies [Abstract] | |
Nature of Operations and Basis of Presentation | Nature of Operations and Basis of Presentation The accompanying consolidated balance sheet at December 31, 2019 has been derived from audited financial statements, and the unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions to Form 10-Q, and FASB Accounting Standards Codification (ASC) 270. Accordingly, the interim financial statements do not include all of the financial information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the interim consolidated financial statements include all adjustments necessary to present fairly the financial condition and results of operations for the reported periods, and all such adjustments are of a normal and recurring nature. Codorus Valley Bancorp, Inc. (“Corporation” or “Codorus Valley”) is a one-bank holding company headquartered in York, Pennsylvania that provides a full range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (“PeoplesBank” or “Bank”). As of March 31, 2020, PeoplesBank operates one wholly-owned subsidiary, Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells nondeposit products. In addition, PeoplesBank may periodically create nonbank subsidiaries for the purpose of temporarily holding foreclosed properties pending the liquidation of these properties. PeoplesBank operates under a state charter and is subject to regulation by the Pennsylvania Department of Banking and Securities, and the Federal Deposit Insurance Corporation. The Corporation is subject to regulation by the Federal Reserve Board and the Pennsylvania Department of Banking and Securities. The consolidated financial statements include the accounts of Codorus Valley and its wholly-owned bank subsidiary, PeoplesBank, and a wholly-owned nonbank subsidiary, SYC Realty Company, Inc. SYC Realty was inactive during the period ended March 31, 2020 . The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 7—Short-Term Borrowings and Long-Term Debt. All significant intercompany account balances and transactions have been eliminated in consolidation. The accounting and reporting policies of Codorus Valley and subsidiaries conform to accounting principles generally accepted in the United States of America and have been followed on a consistent basis. These consolidated statements should be read in conjunction with the notes to the audited consolidated financial statements contained in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2019 . The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the full year. In accordance with FASB ASC 855, the Corporation evaluated the events and transactions that occurred after the balance sheet date of March 31, 2020 and through the date these consolidated financial statements were issued, for items of potential recognition or disclosure. On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the coronavirus as a pandemic, based on the rapid increase in exposure globally. The full impact of the coronavirus continues to evolve as of the date of this report. As such, it is uncertain as to the full magnitude that the pandemic will have on the Corporation’s financial condition, liquidity, and future results of operations. Management is actively monitoring the global situation on its financial condition, liquidity, operations, industry, and workforce. Given the daily evolution of the coronavirus and the global responses to curb its spread, the Corporation is not able to estimate the effects of the coronavirus on its results of operations, financial condition, or liquidity for fiscal year 2020. In addition, the adverse economic effects of the coronavirus may lead to an increase in credit risk on the Corporation’s commercial and residential loan portfolios. Likewise, the Corporation is also monitoring the fluctuations in the markets as it pertains to interest rates and fair value of our investments for OTTI. To curtail the spread of the virus, we are currently restricting branch access to the drive-through window or appointment-only at all locations. On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act in response to the coronavirus pandemic. This legislation aims at providing relief for individuals and businesses that have been negatively impacted by the coronavirus pandemic. The CARES Act includes a provision for the Corporation to opt out of applying the TDR accounting guidance in ASC 310-40 for certain loan modifications. Loan modifications made between March 1, 2020 and the earlier of i) December 30, 2020 or ii) 60 days after the President declares a termination of the COVID-19 national emergency are eligible for this relief if the related loans were not more than 30 days past due as of December 31, 2019. While the Corporation continues to evaluate the disruption caused by the pandemic and impact of the CARES Act, these events may have a material adverse impact on the Corporation’s results of future operations, financial position, capital, and liquidity in fiscal year 2020. Further, a decrease in results of future operations may place a strain on the Corporation’s capital reserve ratios. |
Loans | Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances less amounts charged off, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Generally, loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan. The loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following industry classes: builder & developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale & retail, agriculture, manufacturing and all other. Consumer loans consist of the following classes: residential mortgage, home equity and all other. Generally, for all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. A past due loan may remain on accrual status if it is in the process of collection and well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to the Corporation’s judgment as to the collectability of principal. Generally, nonaccrual loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, generally six months, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses represents the Corporation’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectable are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. While the Corporation attributes a portion of the allowance to individual loans and groups of loans that it evaluates and determines to be impaired, the allowance is available to cover all charge-offs that arise from the loan portfolio. The allowance for loan losses is maintained at a level considered by management to be adequate to provide for probable incurred losses. The Corporation performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are classified as impaired, generally nonaccrual loans and troubled debt restructurings. For loans that are classified as impaired, an allowance is established when the collateral value (or discounted cash flows or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class, including commercial loans not considered impaired, as well as smaller balance homogeneous loans such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative (environmental) risk factors. Historical loss rates are based on a two year rolling average of net charge-offs. Qualitative risk factors that supplement historical losses in the evaluation of loan pools are shown below. Each factor is assigned a value to reflect improving, stable or declining conditions based on the Corporation’s best judgment using relevant information available at the time of the evaluation. · Changes in international, US and local economies and business conditions · Changes in the value of collateral for collateral dependent loans · Changes in the level of concentrations of credit · Changes in the volume and severity of classified and past due loans · Changes in the nature and volume of the portfolio · Changes in collection, charge-off, and recovery procedures · Changes in underwriting standards and loan terms · Changes in the quality of the loan review system · Changes in the experience/ability of lending management and key lending staff · Regulatory and legal regulations that could affect the level of credit losses · Other pertinent environmental factors · Impact of imposed tariffs · Impact of COVID-19 pandemic As disclosed in Note 4—Loans, the Corporation engages in commercial and consumer lending. Loans are made within the Corporation’s primary market area and surrounding areas, and include the purchase of whole loan or participation interests in loans from other financial institutions. Commercial loans, which pose the greatest risk of loss to the Corporation, whether originated or purchased, are generally secured by real estate. Within the broad commercial loan segment, the builder & developer and commercial real estate investor loan classes generally present a higher level of risk than other commercial loan classifications. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties, unstable real estate prices and the dependency upon successful construction and sale or operation of the real estate project. Within the consumer loan segment, junior (i.e., second) liens present a higher risk to the Corporation because economic and housing market conditions can adversely affect the underlying value of the collateral, which could render the Corporation under-secured or unsecured. In addition, economic and housing market conditions can adversely affect the ability of some borrowers to service their debt. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Loans that are deemed impaired are evaluated for impairment loss based on the net realizable value of the collateral, as applicable. Loans that are not collateral dependent will rely on the present value of expected future cash flows discounted at the loan’s effective interest rate to determine impairment loss. Large groups of smaller balance homogeneous loans such as residential mortgage loans, home equity loans and other consumer loans are collectively evaluated for impairment, unless they are classified as impaired. An allowance for loan losses is established for an impaired commercial loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals of the underlying collateral. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the most recent appraisal and the condition of the property. Appraisals are generally discounted to provide for selling costs and other factors to determine an estimate of the net realizable value of the property. For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. In instances when specific consumer related loans become impaired, they may be partially or fully charged off, which eliminates the need for a specific allowance. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted under a troubled debt restructuring may involve an interest rate that is below the market rate given the associated credit risk of the loan or an extension of a loan’s stated maturity date. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for a reasonable period of time, generally six consecutive months after modification and future payments are reasonably assured. |
Foreclosed Real Estate | Foreclosed Real Estate Foreclosed real estate, included in other assets, is comprised of property acquired through a foreclosure proceeding or property that is acquired through in-substance foreclosure. Foreclosed real estate is initially recorded at fair value minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Any difference between the carrying value and the new cost basis is charged against the allowance for loan losses. Appraisals, obtained from an independent third party, are generally used to determine fair value. After foreclosure, management reviews valuations at least quarterly and adjusts the asset to the lower of cost or fair value minus estimated costs to sell through a valuation allowance or a write-down. Costs related to the improvement of foreclosed real estate are generally capitalized until the real estate reaches a saleable condition subject to fair value limitations. Revenue and expense from operations and changes in the valuation allowance are included in noninterest expense. When a foreclosed real estate asset is ultimately sold, any gain or loss on the sale is included in the income statement as a component of noninterest expense. At March 31, 2020 there was $ 918,000 of foreclosed real estate, $121,000 of which was residential real estate. Included within loans receivable as of March 31, 2020 was a recorded investment of $348,000 of consumer mortgage loans secured by residential real estate properties, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. |
Mortgage Servicing Rights | Mortgage Servicing Rights The mortgage servicing rights (MSRs) associated with the sold loans are included in other assets on the consolidated balance sheets at an amount equal to the estimated fair value of the contractual rights to service the mortgage loans. The MSR asset is amortized as a reduction to servicing income. The MSR asset is evaluated periodically for impairment and carried at the lower of amortized cost or fair value. A third party calculates fair value by discounting the estimated cash flows from servicing income using a rate consistent with the risk associated with these assets and an estimate of future net servicing income of the underlying loans. In the event that the amortized cost of the MSR asset exceeds the fair value of the asset, a valuation allowance would be established through a charge against servicing income. Subsequent fair value evaluations may determine that impairment has been reduced or eliminated, in which case the valuation allowance would be reduced through a credit to earnings. At March 31, 2020 , the balance of residential mortgage loans serviced for third parties was $114,169,000 compared to $115,620,000 at December 31, 2019 . Three months ended March 31, (dollars in thousands) 2020 2019 Amortized cost: Balance at beginning of period $ 965 $ 925 Originations of mortgage servicing rights 13 50 Amortization expense (66) (36) Valuation allowance (173) (17) Balance at end of period $ 739 $ 922 |
Goodwill and Core Deposit Intangible Assets | Goodwill and Core Deposit Intangible Assets Goodwill arising from acquisitions is not amortized, but is subject to an annual impairment test. This test consists of a qualitative analysis. If the Corporation determines events or circumstances indicate that it is more likely than not that goodwill is impaired, a quantitative analysis must be completed. Analyses may also be performed between annual tests. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. The Corporation completes its annual goodwill impairment test on October 1st of each year. Based upon a qualitative analysis of goodwill, the Corporation concluded that the amount of recorded goodwill was not impaired as of October 1, 2019. Core deposit intangibles represent the value assigned to demand, interest checking, money market, and savings accounts acquired as part of an acquisition. The core deposit intangible value represents the future economic benefit of potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and the alternative cost to grow a similar core deposit base. The core deposit intangible asset resulting from the merger with Madison Bancorp, Inc. was determined to have a definite life and is being amortized using the sum of the years’ digits method over ten years. All intangible assets must be evaluated for impairment if certain events or changes in circumstances occur. Any impairment write-downs would be recognized as expense on the consolidated statements of income. At March 31, 2020 , the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Revenue from contracts with customers that are required to be recognized under FASB ASC Topic 606 - Revenue from Contracts with Customers (ASC 606) is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Corporation recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The majority of the Corporation’s revenue-generating transactions are not within the scope of ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, derivatives and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other U.S. Generally Accepted Accounting Principles (GAAP) discussed elsewhere within our disclosures. Descriptions of our revenue-generating activities that are within the scope of ASC 606, which are presented in our consolidated statements of income as components of non-interest income are as follows: Trust and investment service fees – The Corporation provides trust, investment management custody and irrevocable life insurance trust services to customers. Such services are rendered in accordance with the underlying contracts for which fees are earned. The Corporation’s performance obligations are generally satisfied, and the related revenue recognized, over the period in which the service is provided. Payment for services rendered is primarily received in the following month. Income from mutual fund, annuity and insurance sales – The Corporation sells mutual funds, annuity and insurance products to its customers. The Corporation’s performance obligation is met upon the signing of the product agreement and, in certain cases, a time component may exist when the customer has the right to rescind the agreement with or without penalty. The Corporation recognizes revenues upon delivery of the product or service unless there is a time component in which case revenues are recognized utilizing the expected value method. Payment for services rendered is primarily received in the following month. Service charges on deposits accounts – These represent general service fees for monthly account maintenance and activity- or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Other service charges include revenue from processing wire transfers, cashier’s checks and other services. Revenue is recognized when the performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to the customers’ accounts. Other noninterest income – The Corporation evaluated individual components of other noninterest income, such as credit card merchant fees, credit and gift card fees and ATM fees. Debit card income is primarily comprised of interchange fees earned whenever the Corporation’s debit cards are processed through payment networks, such as Visa. Credit and gift card income is realized through a third party provider who issues cards as private label in the Corporation’s name. ATM fees are primarily generated when a non-Corporation cardholder uses a Corporation ATM. The income is primarily comprised as a percentage of interchange fees earned whenever the issuer’s card is processed through card payment networks, such as Visa or Pulse. Merchant services income is realized through a third party service provider who is contracted by the Corporation under a referral arrangement. Such fees represent fees charged to merchants to process their debit card transactions. The Corporation’s performance obligation for these fees are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received within a one to three day lag or in the following month. |
Per Share Data | Per Share Data All per share computations include the effect of stock dividends distributed. The computation of net income per share is provided in the table below. Three months ended March 31, (in thousands, except per share data) 2020 2019 Net (loss) income $ (2,989) $ 4,091 Weighted average shares outstanding (basic) 9,759 9,927 Effect of dilutive stock options 53 70 Weighted average shares outstanding (diluted) 9,812 9,997 Basic (loss) earnings per share $ (0.31) $ 0.41 Diluted (loss)earnings per share $ (0.31) $ 0.41 |
Comprehensive Income | Comprehensive Income Accounting principles generally accepted in the United States require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the balance sheet, such items, along with net income, are components of comprehensive income. |
Cash Flow Information | Cash Flow Information For purposes of the statements of cash flows, the Corporation considers interest bearing deposits with banks, cash and due from banks, and federal funds sold to be cash and cash equivalents. Supplemental cash flow information is provided in the table below. Three months ended March 31, (dollars in thousands) 2020 2019 Cash paid during the period for: Income taxes $ 0 $ 300 Interest $ 4,877 $ 5,203 Noncash investing and financing activities: Transfer of loans to foreclosed real estate $ 121 $ 0 Initial recognition of financing lease right-of-use assets $ 0 $ 1,358 Initial recognition of financing lease liabilities $ 0 $ 1,480 Initial recognition of operating lease right-of-use assets $ 186 $ 2,958 Initial recognition of operating lease liabilities $ 186 $ 3,035 Increase in other liabilities for purchase of securities settling after quarter end $ 0 $ 1,004 |
Recent Accounting Pronouncements and Pronouncements Not Yet Effective | Recent Accounting Pronouncements Pronouncements Adopted in 2020 In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350). This standard simplifies the test for goodwill impairment by eliminating the requirement to calculate the implied fair value of goodwill, which currently is Step 2 of the goodwill impairment test. Instead, the goodwill impairment test will consist of a single quantitative step comparing the fair value of the reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and any interim goodwill impairment tests in reporting periods beginning after December 15, 2019. The Corporation adopted this standard effective with its January 1, 2020 goodwill impairment test. The adoption of this standard did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement. The amendments in this update modify the disclosure requirements in Topic 820, Fair Value Measurement. The following disclosure requirements were removed: the amount of and reasons for transfers between Level 1 and Level 2, the policy for timing of transfers between levels, and the valuation processes for Level 3 fair value measurements. The following disclosure requirements were modified: for investments in certain entities that calculate net asset value, and entity is required to disclose the timing of liquidation of investee’s assets and the amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. The following disclosure requirements were added: the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The update is effective for fiscal years beginning after December 15, 2019. The adoption of this update did not have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with those incurred to develop or obtain internal-use software. This standard requires application of Subtopic 350-40 to determine which costs to implement the service contract would be capitalized as an asset and which costs would be expensed. The amendments in the update are effective for the years beginning after December 15, 2019. The adoption of this update did not have a material impact on its consolidated financial statements. Pronouncements Not Yet Effective In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). This standard adds a new Topic 326 which requires companies to measure and record impairment on financial instruments at the time of origination using the expected credit loss (CECL) model. The CECL model calculates impairment based on historical experience, current conditions, and reasonable and supportable forecasts, and reflects the organization’s current estimate of all expected credit losses over the contractual term of its financial assets. The new standard was delayed and is now effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Corporation expects the provisions of ASU No. 2016-13 to impact the Corporation’s consolidated financial statements, in particular, the level of the reserve for credit losses. The Corporation is continuing to evaluate the extent of the potential impact and expects that portfolio composition and economic conditions at the time of adoption will be a factor. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20). The amendments in this update remove disclosures that are no longer considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. The update is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Corporation is currently evaluating the impact of the adoption of this update on its disclosures. |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Changes In Mortgage Service Rights | Three months ended March 31, (dollars in thousands) 2020 2019 Amortized cost: Balance at beginning of period $ 965 $ 925 Originations of mortgage servicing rights 13 50 Amortization expense (66) (36) Valuation allowance (173) (17) Balance at end of period $ 739 $ 922 |
Schedule Of Computation Of Net Income Per Share | Three months ended March 31, (in thousands, except per share data) 2020 2019 Net (loss) income $ (2,989) $ 4,091 Weighted average shares outstanding (basic) 9,759 9,927 Effect of dilutive stock options 53 70 Weighted average shares outstanding (diluted) 9,812 9,997 Basic (loss) earnings per share $ (0.31) $ 0.41 Diluted (loss)earnings per share $ (0.31) $ 0.41 |
Schedule Of Supplemental Cash Flow Information | Three months ended March 31, (dollars in thousands) 2020 2019 Cash paid during the period for: Income taxes $ 0 $ 300 Interest $ 4,877 $ 5,203 Noncash investing and financing activities: Transfer of loans to foreclosed real estate $ 121 $ 0 Initial recognition of financing lease right-of-use assets $ 0 $ 1,358 Initial recognition of financing lease liabilities $ 0 $ 1,480 Initial recognition of operating lease right-of-use assets $ 186 $ 2,958 Initial recognition of operating lease liabilities $ 186 $ 3,035 Increase in other liabilities for purchase of securities settling after quarter end $ 0 $ 1,004 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Securities [Abstract] | |
Summary Of Securities Available-For-Sale | Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value March 31, 2020 Debt securities: U.S. Treasury notes $ 4,998 $ 88 $ 0 $ 5,086 U.S. agency mortgage-backed, residential 135,895 4,809 (2) 140,702 State and municipal 24,656 256 0 24,912 Corporate debt 990 48 0 1,038 Total debt securities $ 166,539 $ 5,201 $ (2) $ 171,738 December 31, 2019 Debt securities: U.S. Treasury notes $ 9,834 $ 119 $ 0 $ 9,953 U.S. agency 15,000 0 (77) 14,923 U.S. agency mortgage-backed, residential 106,799 1,443 (87) 108,155 State and municipal 26,385 260 (1) 26,644 Total debt securities $ 158,018 $ 1,822 $ (165) $ 159,675 |
Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities | Available-for-sale Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 6,671 $ 6,761 Due after one year through five years 102,796 105,798 Due after five years through ten years 34,313 35,189 Due after ten years 22,759 23,990 Total debt securities $ 166,539 $ 171,738 |
Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale | Three months ended March 31, (dollars in thousands) 2020 2019 Realized gains $ 74 $ 3 Realized losses (59) (7) Net gains (losses) $ 15 $ (4) |
Schedule Of Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time | Less than 12 months 12 months or more Total Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses March 31, 2020 Debt securities: U.S. agency mortgage-backed, residential 2 773 (2) 0 0 0 2 773 (2) Total temporarily impaired debt securities, available-for-sale 2 $ 773 $ (2) 0 $ 0 $ 0 2 $ 773 $ (2) December 31, 2019 Debt securities: U.S. agency 1 4,983 (17) 2 9,940 (60) 3 14,923 (77) U.S. agency mortgage-backed, residential 12 21,821 (82) 2 1,163 (5) 14 22,984 (87) State and municipal 1 466 (1) 0 0 0 1 466 (1) Total temporarily impaired debt securities, available-for-sale 14 $ 27,270 $ (100) 4 $ 11,103 $ (65) 18 $ 38,373 $ (165) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Loans [Abstract] | |
Schedule Of Loan Portfolio Composition | March 31, % Total December 31, % Total (dollars in thousands) 2020 Loans 2019 Loans Builder & developer $ 152,432 10.3 $ 159,312 10.6 Commercial real estate investor 207,397 14.0 207,227 13.8 Residential real estate investor 254,817 17.3 247,969 16.5 Hotel/Motel 79,729 5.4 80,260 5.3 Wholesale & retail 99,484 6.7 109,238 7.3 Manufacturing 82,351 5.6 86,511 5.7 Agriculture 78,792 5.3 80,719 5.4 Other 303,120 20.5 313,371 20.7 Total commercial related loans 1,258,122 85.1 1,284,607 85.3 Residential mortgages 92,624 6.3 94,868 6.3 Home equity 101,547 6.9 100,827 6.7 Other 24,368 1.7 24,833 1.7 Total consumer related loans 218,539 14.9 220,528 14.7 Total loans $ 1,476,661 100.0 $ 1,505,135 100.0 |
Summary Of Loan Risk Ratings By Loan Class | Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total March 31, 2020 Builder & developer $ 145,847 $ 5,063 $ 293 $ 1,229 $ 152,432 Commercial real estate investor 201,223 4,849 1,100 225 207,397 Residential real estate investor 245,249 3,418 194 5,956 254,817 Hotel/Motel 67,219 12,510 0 0 79,729 Wholesale & retail 80,750 9,813 1,821 7,100 99,484 Manufacturing 75,673 988 4,653 1,037 82,351 Agriculture 71,321 3,690 403 3,378 78,792 Other 275,555 6,383 13,777 7,405 303,120 Total commercial related loans 1,162,837 46,714 22,241 26,330 1,258,122 Residential mortgage 92,268 129 74 153 92,624 Home equity 100,820 60 0 667 101,547 Other 24,142 0 7 219 24,368 Total consumer related loans 217,230 189 81 1,039 218,539 Total loans $ 1,380,067 $ 46,903 $ 22,322 $ 27,369 $ 1,476,661 December 31, 2019 Builder & developer $ 151,672 $ 6,503 $ 252 $ 885 $ 159,312 Commercial real estate investor 201,967 3,890 1,145 225 207,227 Residential real estate investor 238,216 3,780 202 5,771 247,969 Hotel/Motel 67,732 12,528 0 0 80,260 Wholesale & retail 89,556 10,513 1,954 7,215 109,238 Manufacturing 76,721 1,058 7,597 1,135 86,511 Agriculture 76,350 1,123 404 2,842 80,719 Other 277,634 16,490 13,748 5,499 313,371 Total commercial related loans 1,179,848 55,885 25,302 23,572 1,284,607 Residential mortgage 94,388 131 74 275 94,868 Home equity 100,089 61 0 677 100,827 Other 24,600 0 7 226 24,833 Total consumer related loans 219,077 192 81 1,178 220,528 Total loans $ 1,398,925 $ 56,077 $ 25,383 $ 24,750 $ 1,505,135 |
Summary Of Impaired Loans | With No Allowance With A Related Allowance Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid (dollars in thousands) Investment Principal Investment Principal Allowance Investment Principal March 31, 2020 Builder & developer $ 1,293 $ 1,332 $ 142 $ 143 $ 52 $ 1,435 $ 1,475 Commercial real estate investor 1,325 1,325 0 0 0 1,325 1,325 Residential real estate investor 953 975 5,003 5,124 1,906 5,956 6,099 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 271 271 7,069 7,760 3,363 7,340 8,031 Manufacturing 12 12 1,025 1,170 487 1,037 1,182 Agriculture 2,412 2,439 966 966 537 3,378 3,405 Other commercial 3,771 11,413 3,634 3,789 1,506 7,405 15,202 Total impaired commercial related loans 10,037 17,767 17,839 18,952 7,851 27,876 36,719 Residential mortgage 153 153 0 0 0 153 153 Home equity 667 667 0 0 0 667 667 Other consumer 219 225 0 0 0 219 225 Total impaired consumer related loans 1,039 1,045 0 0 0 1,039 1,045 Total impaired loans $ 11,076 $ 18,812 $ 17,839 $ 18,952 $ 7,851 $ 28,915 $ 37,764 December 31, 2019 Builder & developer $ 621 $ 651 $ 473 $ 474 $ 238 $ 1,094 $ 1,125 Commercial real estate investor 1,370 1,371 0 0 0 1,370 1,371 Residential real estate investor 734 753 5,037 5,137 1,873 5,771 5,890 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 273 273 7,184 7,811 2,537 7,457 8,084 Manufacturing 13 13 1,122 1,220 463 1,135 1,233 Agriculture 1,784 1,791 1,058 1,058 701 2,842 2,849 Other commercial 1,864 1,974 3,635 3,888 1,608 5,499 5,862 Total impaired commercial related loans 6,659 6,826 18,509 19,588 7,420 25,168 26,414 Residential mortgage 275 277 0 0 0 275 277 Home equity 677 677 0 0 0 677 677 Other consumer 226 231 0 0 0 226 231 Total impaired consumer related loans 1,178 1,185 0 0 0 1,178 1,185 Total impaired loans $ 7,837 $ 8,011 $ 18,509 $ 19,588 $ 7,420 $ 26,346 $ 27,599 The table below presents a summary of average impaired loans and related interest income that was included in net income for the three months ended March 31, 2020 and 2019 . With No Related Allowance With A Related Allowance Total Average Total Average Total Average Total Recorded Interest Recorded Interest Recorded Interest (dollars in thousands) Investment Income Investment Income Investment Income Three months ended March 31, 2020 Builder & developer $ 957 12 308 0 $ 1,265 $ 12 Commercial real estate investor 1,347 22 0 0 1,347 22 Residential real estate investor 844 6 5,020 0 5,864 6 Hotel/Motel 0 0 0 0 0 0 Wholesale & retail 272 2 7,127 0 7,399 2 Manufacturing 13 3 1,073 0 1,086 3 Agriculture 2,098 19 1,012 0 3,110 19 Other commercial 2,817 31 3,634 0 6,451 31 Total impaired commercial related loans 8,348 95 18,174 0 26,522 95 Residential mortgage 214 3 0 0 214 3 Home equity 672 21 0 0 672 21 Other consumer 223 3 0 0 223 3 Total impaired consumer related loans 1,109 27 0 0 1,109 27 Total impaired loans $ 9,457 $ 122 $ 18,174 $ 0 $ 27,631 $ 122 Three months ended March 31, 2019 Builder & developer $ 1,124 $ 14 $ 69 $ 0 $ 1,193 $ 14 Commercial real estate investor 3,610 34 0 0 3,610 34 Residential real estate investor 615 5 4,346 0 4,961 5 Hotel/Motel 0 0 0 0 0 0 Wholesale & retail 2,723 3 7,402 0 10,125 3 Manufacturing 669 5 1,642 0 2,311 5 Agriculture 658 13 0 0 658 13 Other commercial 7,601 0 4,870 0 12,471 0 Total impaired commercial related loans 17,000 74 18,329 0 35,329 74 Residential mortgage 548 6 0 0 548 6 Home equity 604 6 0 0 604 6 Other consumer 277 4 0 0 277 4 Total impaired consumer related loans 1,429 16 0 0 1,429 16 Total impaired loans $ 18,429 $ 90 $ 18,329 $ 0 $ 36,758 $ 90 |
Summary Of Past Due Loans, Nonaccrual Loans And Current Loans By Loan Segment And Class | ≥ 90 Days 30-59 60-89 Past Due Total Past Days Days and Due and Total (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Current Loans March 31, 2020 Builder & developer $ 775 $ 0 $ 40 $ 1,229 $ 2,044 $ 150,388 $ 152,432 Commercial real estate investor 0 0 0 225 225 207,172 207,397 Residential real estate investor 0 0 0 5,956 5,956 248,861 254,817 Hotel/Motel 0 0 0 0 0 79,729 79,729 Wholesale & retail 200 0 0 7,100 7,300 92,184 99,484 Manufacturing 394 0 0 1,037 1,431 80,920 82,351 Agriculture 403 0 0 3,378 3,781 75,011 78,792 Other 123 0 680 7,405 8,208 294,912 303,120 Total commercial related loans 1,895 0 720 26,330 28,945 1,229,177 1,258,122 Residential mortgage 1,494 0 103 153 1,750 90,874 92,624 Home equity 601 10 0 667 1,278 100,269 101,547 Other 1,404 6 7 219 1,636 22,732 24,368 Total consumer related loans 3,499 16 110 1,039 4,664 213,875 218,539 Total loans $ 5,394 $ 16 $ 830 $ 27,369 $ 33,609 $ 1,443,052 $ 1,476,661 December 31, 2019 Builder & developer $ 0 $ 0 $ 43 $ 885 $ 928 $ 158,384 $ 159,312 Commercial real estate investor 0 0 0 225 225 207,002 207,227 Residential real estate investor 295 0 0 5,771 6,066 241,903 247,969 Hotel/Motel 0 0 0 0 0 80,260 80,260 Wholesale & retail 0 0 0 7,215 7,215 102,023 109,238 Manufacturing 409 0 0 1,135 1,544 84,967 86,511 Agriculture 14 0 0 2,842 2,856 77,863 80,719 Other 463 1,865 120 5,499 7,947 305,424 313,371 Total commercial related loans 1,181 1,865 163 23,572 26,781 1,257,826 1,284,607 Residential mortgage 0 70 104 275 449 94,419 94,868 Home equity 249 276 0 677 1,202 99,625 100,827 Other 750 68 13 226 1,057 23,776 24,833 Total consumer related loans 999 414 117 1,178 2,708 217,820 220,528 Total loans $ 2,180 $ 2,279 $ 280 $ 24,750 $ 29,489 $ 1,475,646 $ 1,505,135 |
Summary Of Loans Modified Under TDRs | Modifications Pre-Modification Post-Modification Number Outstanding Outstanding Recorded of Recorded Recorded Investment (dollars in thousands) Contracts Investments Investments at Period End Three months ended: March 31, 2020 None March 31, 2019 Commercial related loans accruing 1 $ 63 $ 63 $ 61 |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Allowance For Loan Losses [Abstract] | |
Summary Of Allowance For Loan Losses By Loan Segment And Class | Allowance for Loan Losses January 1, 2020 March 31, 2020 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,263 $ (170) $ 0 $ 133 $ 2,226 Commercial real estate investor 2,565 0 0 117 2,682 Residential real estate investor 4,632 0 3 124 4,759 Hotel/Motel 742 0 0 314 1,056 Wholesale & retail 3,575 0 7 976 4,558 Manufacturing 1,252 0 0 64 1,316 Agriculture 1,304 0 0 (164) 1,140 Other commercial 4,204 (7,511) 0 7,772 4,465 Total commercial related loans 20,537 (7,681) 10 9,336 22,202 Residential mortgage 158 0 0 77 235 Home equity 203 0 0 101 304 Other consumer 167 (5) 13 (78) 97 Total consumer related loans 528 (5) 13 100 636 Unallocated 1 0 0 (1) 0 Total $ 21,066 $ (7,686) $ 23 $ 9,435 $ 22,838 Allowance for Loan Losses January 1, 2019 March 31, 2019 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,835 $ 0 $ 0 $ 132 $ 2,967 Commercial real estate investor 2,636 0 0 16 2,652 Residential real estate investor 3,945 0 3 62 4,010 Hotel/Motel 732 0 0 67 799 Wholesale & retail 1,813 0 0 (12) 1,801 Manufacturing 1,287 0 0 (21) 1,266 Agriculture 579 0 0 (1) 578 Other commercial 4,063 (46) 0 1,168 5,185 Total commercial related loans 17,890 (46) 3 1,411 19,258 Residential mortgage 126 0 0 6 132 Home equity 265 (20) 1 (51) 195 Other consumer 144 (60) 9 106 199 Total consumer related loans 535 (80) 10 61 526 Unallocated 719 0 0 (422) 297 Total $ 19,144 $ (126) $ 13 $ 1,050 $ 20,081 |
Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment | Allowance for Loan Losses Loans Individually Collectively Individually Collectively Evaluated For Evaluated For Evaluated For Evaluated For (dollars in thousands) Impairment Impairment Balance Impairment Impairment Balance March 31, 2020 Builder & developer $ 52 $ 2,174 $ 2,226 $ 1,435 $ 150,997 $ 152,432 Commercial real estate investor 0 2,682 2,682 1,325 206,072 207,397 Residential real estate investor 1,906 2,853 4,759 5,956 248,861 254,817 Hotel/Motel 0 1,056 1,056 0 79,729 79,729 Wholesale & retail 3,363 1,195 4,558 7,340 92,144 99,484 Manufacturing 487 829 1,316 1,037 81,314 82,351 Agriculture 537 603 1,140 3,378 75,414 78,792 Other commercial 1,506 2,959 4,465 7,405 295,715 303,120 Total commercial related 7,851 14,351 22,202 27,876 1,230,246 1,258,122 Residential mortgage 0 235 235 153 92,471 92,624 Home equity 0 304 304 667 100,880 101,547 Other consumer 0 97 97 219 24,149 24,368 Total consumer related 0 636 636 1,039 217,500 218,539 Unallocated 0 0 0 0 0 0 Total $ 7,851 $ 14,987 $ 22,838 $ 28,915 $ 1,447,746 $ 1,476,661 December 31, 2019 Builder & developer $ 238 $ 2,025 $ 2,263 $ 1,094 $ 158,218 $ 159,312 Commercial real estate investor 0 2,565 2,565 1,370 205,857 207,227 Residential real estate investor 1,873 2,759 4,632 5,771 242,198 247,969 Hotel/Motel 0 742 742 0 80,260 80,260 Wholesale & retail 2,537 1,038 3,575 7,457 101,781 109,238 Manufacturing 463 789 1,252 1,135 85,376 86,511 Agriculture 701 603 1,304 2,842 77,877 80,719 Other commercial 1,608 2,596 4,204 5,499 307,872 313,371 Total commercial related 7,420 13,117 20,537 25,168 1,259,439 1,284,607 Residential mortgage 0 158 158 275 94,593 94,868 Home equity 0 203 203 677 100,150 100,827 Other consumer 0 167 167 226 24,607 24,833 Total consumer related 0 528 528 1,178 219,350 220,528 Unallocated 0 1 1 0 0 0 Total $ 7,420 $ 13,646 $ 21,066 $ 26,346 $ 1,478,789 $ 1,505,135 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Deposits | |
Schedule Of Composition Of Deposits | March 31, December 31, (dollars in thousands) 2020 2019 Noninterest bearing demand $ 274,382 $ 273,968 Interest bearing demand 182,414 174,248 Money market 531,925 513,948 Savings 90,411 85,489 Time deposits less than $100 309,597 303,527 Time deposits $100 to $250 183,820 175,477 Time deposits $250 or more 66,798 63,907 Total deposits $ 1,639,347 $ 1,590,564 |
Short-Term Borrowings And Lon_2
Short-Term Borrowings And Long-Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Summary Of Long-Term Debt | March 31, December 31, (dollars in thousands) 2020 2019 PeoplesBank’s obligations: Federal Home Loan Bank of Pittsburgh (FHLBP) Due March 2020 , 1.86% 0 10,000 Due June 2020 , 1.87% 15,000 15,000 Due June 2020 , 2.70% 10,000 10,000 Due June 2021 , 2.81% 10,000 10,000 Due June 2021 , 2.14% 15,000 15,000 Due May 2022 , 2.93% 10,000 10,000 Total FHLBP 60,000 70,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 2.76% , floating rate based on 3 month LIBOR plus 2.02% , callable quarterly 3,093 3,093 Due 2036 , 3.37% floating rate based on 3 month LIBOR plus 1.54% , callable quarterly 7,217 7,217 Total junior subordinated debt 10,310 10,310 Lease obligations included in long-term debt: Finance lease liabilities 1,317 1,322 Total long-term debt $ 71,627 $ 81,632 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Components of Lease Expense | Three Months Ended March 31, (dollars in thousands) 2020 2019 Operating lease cost $ 203 $ 188 Finance lease cost: Amortization of right-of-use assets $ 12 $ 17 Interest on lease liability 12 13 Total finance lease cost $ 24 $ 30 Total lease cost $ 227 $ 218 |
Supplemental Cash Flow Information Related to Leases | Three Months Ended March 31, 2020 2019 Operating cash flows from operating leases $ 208 $ 193 Operating cash flows from financing leases 12 13 Financing cash flows from financing leases 6 11 Right-of-use assets obtained in exchange for new lease obligations: Operating leases 186 0 Finance leases 0 0 |
Supplemental Balance Sheet Information Related to Leases | March 31, December 31, 2020 2019 Assets: Operating leases right-of-use assets $ 3,030 $ 3,021 Finance leases assets 1,123 1,134 Total lease assets $ 4,153 $ 4,155 Liabilities: Operating $ 3,187 $ 3,184 Financing 1,317 1,322 Total lease liabilities $ 4,504 $ 4,506 Weighted Average Remaining Lease Term (years) Operating leases 5.5 5.6 Finance leases 23.9 24.2 Weighted Average Discount Rate Operating leases 2.71% 2.72% Finance leases 3.69% 3.69% |
Future Minimum Payments for Financing Leases and Operating Leases | (dollars in thousands:) March 31, 2020 Year Ending December 31, Operating Leases Finance Leases 2020 $ 622 $ 56 2021 768 75 2022 609 75 2023 491 75 2024 413 75 Thereafter 508 1,669 Total lease payments 3,411 2,025 Less imputed interest (224) (708) Total $ 3,187 $ 1,317 (dollars in thousands:) December 31, 2019 Year Ending December 31, Operating Leases Finance Leases 2020 $ 767 $ 74 2021 706 75 2022 545 75 2023 491 75 2024 413 75 Thereafter 507 1,668 Total lease payments 3,429 2,042 Less imputed interest (245) (720) Total $ 3,184 $ 1,322 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Regulatory Matters [Abstract] | |
Schedule Of Risk-Based Capital Ratios And Leverage Ratios | Minimum for Basel III Well Capitalized Actual Capital Adequacy Minimum (1) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at March 31, 2020 Capital ratios: Common equity Tier 1 $ 182,956 12.24 % $ 104,598 7.00 % n/a n/a Tier 1 risk based 192,956 12.91 127,012 8.50 n/a n/a Total risk based 211,686 14.17 156,897 10.50 n/a n/a Leverage 192,956 10.18 75,787 4.00 n/a n/a at December 31, 2019 Capital ratios: Common equity Tier 1 $ 187,312 12.45 % $ 105,359 7.00 % n/a n/a Tier 1 risk based 197,312 13.11 127,936 8.50 n/a n/a Total risk based 216,154 14.36 158,039 10.50 n/a n/a Leverage 197,312 10.55 74,820 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at March 31, 2020 Capital ratios: Common equity Tier 1 $ 189,263 12.70 % $ 104,356 7.00 % $ 96,902 6.50 % Tier 1 risk based 189,263 12.70 126,717 8.50 119,263 8.00 Total risk based 207,950 13.95 156,533 10.50 149,079 10.00 Leverage 189,263 10.01 75,648 4.00 94,560 5.00 at December 31, 2019 Capital ratios: Common equity Tier 1 $ 193,421 12.88 % $ 105,118 7.00 % $ 97,610 6.50 % Tier 1 risk based 193,421 12.88 127,643 8.50 120,135 8.00 Total risk based 212,220 14.13 157,677 10.50 150,169 10.00 Leverage 193,421 10.36 74,673 4.00 93,341 5.00 (1) To be “well capitalized” under the prompt corrective action provisions in the Basel III framework. “Well capitalized” applies to PeoplesBank only. |
Fair Value Measurements And Fai
Fair Value Measurements And Fair Values Of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value of Assets and Liabilities [Abstract] | |
Schedule Of Assets Measured At Fair Value On Recurring Basis | Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Significant Other Active Markets for Observable Unobservable (dollars in thousands) Total Identical Assets Inputs Inputs March 31, 2020 Securities available-for-sale: U.S. Treasury notes $ 5,086 $ 5,086 $ 0 $ 0 U.S. agency mortgage-backed, residential 140,702 0 140,702 0 State and municipal 24,912 0 24,912 0 Corporate debt 1,038 0 1,038 0 December 31, 2019 Securities available-for-sale: U.S. Treasury notes $ 9,953 $ 9,953 $ 0 $ 0 U.S. agency 14,923 0 14,923 0 U.S. agency mortgage-backed, residential 108,155 0 108,155 0 State and municipal 26,644 0 26,644 0 |
Schedule Of Assets Measured At Fair Value On Nonrecurring Basis | Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Active Markets for Significant Other Unobservable (dollars in thousands) Total Identical Assets Observable Inputs Inputs March 31, 2020 Impaired loans $ 10,672 $ 0 $ 0 $ 10,672 Foreclosed real estate 797 0 0 797 Mortgage servicing rights 740 0 0 740 December 31, 2019 Impaired loans $ 11,297 $ 0 $ 0 $ 11,297 Foreclosed real estate 797 0 0 797 Mortgage servicing rights 1,047 0 0 1,047 |
Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis | Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Weighted (dollars in thousands) Estimate Techniques Input Range Average March 31, 2020 Impaired loans $ 6,428 Appraisal (1) Appraisal adjustments (2) 15% -50% 41% Impaired loans 4,244 Business asset valuation (3) Business asset valuation adjustments (4) 10% -68% 64% Foreclosed real estate 797 Appraisal (1) Appraisal adjustments (2) 22% - 22% 22% Mortgage Servicing Rights 740 Multiple of annual service fee Estimated prepayment speed based on rate and term 12.9% - 17.7% 16.7% December 31, 2019 Impaired loans $ 5,991 Appraisal (1) Appraisal adjustments (2) 15% - 55% 44% Impaired loans 5,306 Business asset valuation (3) Business asset valuation adjustments (4) 10% - 73% 70% Foreclosed real estate 797 Appraisal (1) Appraisal adjustments (2) 22% - 22% 22% Mortgage Servicing Rights 1,047 Multiple of annual service fee Estimated prepayment speed based on rate and term 7.9% - 8.9% 8.7% (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. (2) Appraisal amounts may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expense adjustments are presented as a percent of the appraisal. (3) Fair value is generally determined through customer-provided financial statements and bankruptcy court documents. (4) Business asset valuation may be adjusted downward by the corporation's management qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses adjustments are presented as a percent of the financial statement book value. |
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | Fair Value Estimates (Level 1) (Level 2) (Level 3) Quoted Prices Significant Significant in Active Other Other Carrying Estimated Markets for Observable Unobservable (dollars in thousands) Amount Fair Value Identical Assets Inputs Inputs March 31, 2020 Financial assets Cash and cash equivalents $ 185,258 $ 185,258 $ 185,258 $ 0 $ 0 Securities available-for-sale 171,738 171,738 5,086 166,652 0 Loans held for sale 10,858 11,366 0 11,366 0 Loans, net 1,453,823 1,469,994 0 0 1,469,994 Interest receivable 4,872 4,872 0 4,872 0 Financial liabilities Deposits $ 1,639,347 $ 1,636,607 $ 0 $ 1,636,607 $ 0 Short-term borrowings 6,196 6,196 0 6,196 0 Long-term debt (1) 70,310 70,494 0 61,026 9,468 Interest payable 787 787 0 787 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2019 Financial assets Cash and cash equivalents $ 131,591 $ 131,591 $ 131,591 $ 0 $ 0 Securities available-for-sale 159,675 159,675 9,953 149,722 0 Restricted investment in bank stocks 4,551 4,551 0 4,551 0 Loans held for sale 11,803 12,460 0 12,460 0 Loans, net 1,484,069 1,472,772 0 0 1,472,772 Interest receivable 5,016 5,016 0 5,016 0 Financial liabilities Deposits $ 1,590,564 $ 1,582,179 $ 0 $ 1,582,179 $ 0 Short-term borrowings 7,925 7,925 0 7,925 0 Long-term debt (1) 80,310 79,579 0 70,486 9,093 Interest payable 842 842 0 842 0 Off-balance sheet instruments 0 0 0 0 0 (1) Exclude leases included in Long-term debt |
Assets And Liabilities Subjec_2
Assets And Liabilities Subject To Offsetting (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Schedule Of Securities Sold Under Agreements To Repurchase | Gross amounts Not Offset in Gross Net Amounts the Statements of Condition Gross Amounts of Liabilities Financial Instruments Amounts of Offset in the Presented in U.S. agency Cash Recognized Statements the Statements mortgage-backed, Collateral Net (dollars in thousands) Liabilities of Condition of Condition residential U.S. agency Pledged Amount March 31, 2020 Repurchase Agreements $ 6,196 $ 0 $ 6,196 $ (9,479) $ 0 $ 0 $ (3,283) December 31, 2019 Repurchase Agreements $ 7,925 $ 0 $ 7,925 $ (9,601) $ 0 $ 0 $ (1,676) |
Summary Of Significant Accoun_4
Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020USD ($)item | Dec. 31, 2019USD ($) | |
Summary of Significant Accounting Policies [Line Items] | ||
Number of subsidiaries | item | 1 | |
Number of days for accrual of interest on the payment of principal or interest | 90 days | |
Foreclosed real estate, net of allowance | $ 918 | |
Residential Mortgage Loans [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Foreclosed real estate, net of allowance | 121 | |
Residential Mortgage [Member] | Mortgage Servicing Rights [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Mortgage loans serviced for third parties | 114,169 | $ 115,620 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Loans in process of forclosure amount | $ 348 | |
Core Deposits Intangible Assets [Member] | ||
Summary of Significant Accounting Policies [Line Items] | ||
Intangible assets, amortization period | 10 years |
Summary Of Significant Accoun_5
Summary Of Significant Accounting Policies (Summary Of Changes In Mortgage Service Rights) (Details) - Residential Mortgage Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Balance at beginning of period | $ 965 | $ 925 |
Originations of mortgage servicing rights | 13 | 50 |
Amortization expense | (66) | (36) |
Valuation allowance | (173) | (17) |
Balance at end of year | $ 739 | $ 922 |
Summary Of Significant Accoun_6
Summary Of Significant Accounting Policies (Schedule Of Computation Of Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Net (loss) income | $ (2,989) | $ 4,091 |
Weighted average shares outstanding (basic) | 9,759 | 9,927 |
Effect of dilutive stock options | 53 | 70 |
Weighted average shares outstanding (diluted) | 9,812 | 9,997 |
Basic (loss) earnings per share | $ (0.31) | $ 0.41 |
Diluted (loss)earnings per share | $ (0.31) | $ 0.41 |
Summary Of Significant Accoun_7
Summary Of Significant Accounting Policies (Schedule Of Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Cash paid during the period for: Income taxes | $ 0 | $ 300 |
Cash paid during the period for: Interest | 4,877 | 5,203 |
Noncash investing and financing activities: | ||
Transfer of loans to foreclosed real estate | 121 | 0 |
Initial recognition of financing lease right-of-use assets | 0 | 1,358 |
Initial recognition of financing lease liabilities | 0 | 1,480 |
Initial recognition of operating lease right-of-use assets | 186 | 2,958 |
Initial recognition of operating lease liabilities | 186 | 3,035 |
Increase in other liabilities for purchase of securities settling after quarter end | $ 0 | $ 1,004 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Proceeds from sale of securities | $ 19,852 | $ 6,017 | |
Income tax expense (benefit) related to the sale of securities available-for-sale | 3 | (1) | |
Carrying Amount [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale securities pledged as collateral | 126,161 | $ 128,427 | |
Debt Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Proceeds from sale of securities | 19,852 | 6,017 | |
Income tax expense (benefit) related to the sale of securities available-for-sale | $ 3 | $ (1) | |
Geographic Concentration Risk [Member] | PENNSYLVANIA | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Fair value municipal bond portfolio concentration percentage | 90.00% | ||
Municipal Bonds [Member] | Geographic Concentration Risk [Member] | PENNSYLVANIA | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Portfolio intentionally distributed to limit exposure largest issuer amount | $ 2,300 |
Securities (Summary Of Securiti
Securities (Summary Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | $ 166,539 | $ 158,018 |
Total debt securities, Gross Unrealized Gains | 5,201 | 1,822 |
Total debt securities, Gross Unrealized Losses | (2) | (165) |
Total debt securities, Fair Value | 171,738 | 159,675 |
U.S. Treasury Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 4,998 | 9,834 |
Total debt securities, Gross Unrealized Gains | 88 | 119 |
Total debt securities, Gross Unrealized Losses | 0 | 0 |
Total debt securities, Fair Value | 5,086 | 9,953 |
U.S. Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 15,000 | |
Total debt securities, Gross Unrealized Gains | 0 | |
Total debt securities, Gross Unrealized Losses | (77) | |
Total debt securities, Fair Value | 14,923 | |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 135,895 | 106,799 |
Total debt securities, Gross Unrealized Gains | 4,809 | 1,443 |
Total debt securities, Gross Unrealized Losses | (2) | (87) |
Total debt securities, Fair Value | 140,702 | 108,155 |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 24,656 | 26,385 |
Total debt securities, Gross Unrealized Gains | 256 | 260 |
Total debt securities, Gross Unrealized Losses | 0 | (1) |
Total debt securities, Fair Value | 24,912 | $ 26,644 |
Corporate Segment [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 990 | |
Total debt securities, Gross Unrealized Gains | 48 | |
Total debt securities, Gross Unrealized Losses | 0 | |
Total debt securities, Fair Value | $ 1,038 |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Securities [Abstract] | ||
Due in one year or less, Available-for-sale, Amortized Cost | $ 6,671 | |
Due after one year through five years, Available-for-sale, Amortized Cost | 102,796 | |
Due after five years through ten years, Available-for-sale, Amortized Cost | 34,313 | |
Due after ten years, Available-for-sale, Amortized Cost | 22,759 | |
Total debt securities, Amortized Cost | 166,539 | $ 158,018 |
Due in one year or less, Available-for-sale, Fair Value | 6,761 | |
Due after one year through five years, Available-for-sale, Fair Value | 105,798 | |
Due after five years through ten years, Available-for-sale, Fair Value | 35,189 | |
Due after ten years, Available-for-sale, Fair Value | 23,990 | |
Total debt securities, Fair Value | $ 171,738 | $ 159,675 |
Securities (Schedule Of Gross R
Securities (Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Securities [Abstract] | ||
Realized gains | $ 74 | $ 3 |
Realized losses | (59) | (7) |
Net gains (losses) | $ 15 | $ (4) |
Securities (Schedule Of Gross U
Securities (Schedule Of Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time) (Details) $ in Thousands | Mar. 31, 2020USD ($)security | Dec. 31, 2019USD ($)security |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 2 | 14 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 773 | $ 27,270 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (2) | $ (100) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 0 | 4 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 0 | $ 11,103 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ 0 | $ (65) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 2 | 18 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 773 | $ 38,373 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (2) | $ (165) |
U.S. Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 1 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 4,983 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (17) | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 2 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 9,940 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (60) | |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 3 | |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 14,923 | |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (77) | |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 2 | 12 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 773 | $ 21,821 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (2) | $ (82) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 0 | 2 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 0 | $ 1,163 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ 0 | $ (5) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 2 | 14 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 773 | $ 22,984 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (2) | $ (87) |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 1 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 466 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (1) | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 0 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 0 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ 0 | |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 1 | |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 466 | |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (1) |
Restricted Investment In Bank_2
Restricted Investment In Bank Stocks (Details) - FHLBP [Member] - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Maximum percent of member's total capital stock outstanding available for repurchase | 5.00% | |
Impairment on restricted investment in bank stocks | $ 0 | $ 0 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) | Apr. 30, 2020USD ($)contract | Mar. 31, 2020USD ($)segmentloancontract | Mar. 31, 2019USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of loan portfolio segments | segment | 2 | ||
Impairment loss recognized | $ 0 | $ 0 | |
Commitments to lend additional amounts to TDRs | $ 0 | 0 | |
Number of defaults | loan | 0 | ||
Cares Act [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of contracts modified under the CARES Act | contract | 0 | ||
Accrual and Nonaccrual TDRs [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loan under TDRs | $ 1,598,000 | $ 1,650,000 | |
Commercial Related Loans [Member] | Subsequent Event [Member] | Cares Act [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of contracts modified under the CARES Act | contract | 13 | ||
Recorded investment modified under CARES Act | $ 41,000,000 | ||
Total Consumer Related Loans [Member] | Subsequent Event [Member] | Cares Act [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of contracts modified under the CARES Act | contract | 35 | ||
Recorded investment modified under CARES Act | $ 2,000,000 |
Loans (Schedule Of Loan Portfol
Loans (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 1,476,661 | $ 1,505,135 |
Commercial Related Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 1,258,122 | 1,284,607 |
Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 152,432 | 159,312 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 207,397 | 207,227 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 254,817 | 247,969 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 79,729 | 80,260 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 99,484 | 109,238 |
Commercial Related Loans [Member] | Manufacturing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 82,351 | 86,511 |
Commercial Related Loans [Member] | Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 78,792 | 80,719 |
Commercial Related Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 303,120 | 313,371 |
Total Consumer Related Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 218,539 | 220,528 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 92,624 | 94,868 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 101,547 | 100,827 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 24,368 | $ 24,833 |
Loan and Loan Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 100.00% | 100.00% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 85.10% | 85.30% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 10.30% | 10.60% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 14.00% | 13.80% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 17.30% | 16.50% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 5.40% | 5.30% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 6.70% | 7.30% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Manufacturing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 5.60% | 5.70% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 5.30% | 5.40% |
Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 20.50% | 20.70% |
Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 14.90% | 14.70% |
Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 6.30% | 6.30% |
Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 6.90% | 6.70% |
Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 1.70% | 1.70% |
Loans (Summary Of Loan Risk Rat
Loans (Summary Of Loan Risk Ratings By Loan Class) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 1,476,661 | $ 1,505,135 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,380,067 | 1,398,925 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 46,903 | 56,077 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 22,322 | 25,383 |
Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 27,369 | 24,750 |
Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,258,122 | 1,284,607 |
Commercial Related Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,162,837 | 1,179,848 |
Commercial Related Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 46,714 | 55,885 |
Commercial Related Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 22,241 | 25,302 |
Commercial Related Loans [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 26,330 | 23,572 |
Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 152,432 | 159,312 |
Commercial Related Loans [Member] | Builder & Developer [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 145,847 | 151,672 |
Commercial Related Loans [Member] | Builder & Developer [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,063 | 6,503 |
Commercial Related Loans [Member] | Builder & Developer [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 293 | 252 |
Commercial Related Loans [Member] | Builder & Developer [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,229 | 885 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 207,397 | 207,227 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 201,223 | 201,967 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,849 | 3,890 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,100 | 1,145 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 225 | 225 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 254,817 | 247,969 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 245,249 | 238,216 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,418 | 3,780 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 194 | 202 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,956 | 5,771 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 79,729 | 80,260 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 67,219 | 67,732 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 12,510 | 12,528 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 99,484 | 109,238 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 80,750 | 89,556 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 9,813 | 10,513 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,821 | 1,954 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,100 | 7,215 |
Commercial Related Loans [Member] | Manufacturing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 82,351 | 86,511 |
Commercial Related Loans [Member] | Manufacturing [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 75,673 | 76,721 |
Commercial Related Loans [Member] | Manufacturing [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 988 | 1,058 |
Commercial Related Loans [Member] | Manufacturing [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,653 | 7,597 |
Commercial Related Loans [Member] | Manufacturing [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,037 | 1,135 |
Commercial Related Loans [Member] | Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 78,792 | 80,719 |
Commercial Related Loans [Member] | Agriculture [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 71,321 | 76,350 |
Commercial Related Loans [Member] | Agriculture [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,690 | 1,123 |
Commercial Related Loans [Member] | Agriculture [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 403 | 404 |
Commercial Related Loans [Member] | Agriculture [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,378 | 2,842 |
Commercial Related Loans [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 303,120 | 313,371 |
Commercial Related Loans [Member] | Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 275,555 | 277,634 |
Commercial Related Loans [Member] | Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 6,383 | 16,490 |
Commercial Related Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 13,777 | 13,748 |
Commercial Related Loans [Member] | Other [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,405 | 5,499 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 218,539 | 220,528 |
Total Consumer Related Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 217,230 | 219,077 |
Total Consumer Related Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 189 | 192 |
Total Consumer Related Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 81 | 81 |
Total Consumer Related Loans [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,039 | 1,178 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 92,624 | 94,868 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 92,268 | 94,388 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 129 | 131 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 74 | 74 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 153 | 275 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 101,547 | 100,827 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 100,820 | 100,089 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 60 | 61 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 667 | 677 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 24,368 | 24,833 |
Total Consumer Related Loans [Member] | Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 24,142 | 24,600 |
Total Consumer Related Loans [Member] | Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Total Consumer Related Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7 | 7 |
Total Consumer Related Loans [Member] | Other [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 219 | $ 226 |
Loans (Summary Of Impaired Loan
Loans (Summary Of Impaired Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | $ 11,076 | $ 7,837 |
Impaired Loans, With No Allowance, Unpaid Principal | 18,812 | 8,011 |
Impaired Loans, With A Related Allowance, Recorded Investment | 17,839 | 18,509 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 18,952 | 19,588 |
Impaired Loans, With A Related Allowance, Related Allowance | 7,851 | 7,420 |
Impaired Loans, Total, Recorded Investment | 28,915 | 26,346 |
Impaired Loans, Total, Unpaid Principal | 37,764 | 27,599 |
Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 10,037 | 6,659 |
Impaired Loans, With No Allowance, Unpaid Principal | 17,767 | 6,826 |
Impaired Loans, With A Related Allowance, Recorded Investment | 17,839 | 18,509 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 18,952 | 19,588 |
Impaired Loans, With A Related Allowance, Related Allowance | 7,851 | 7,420 |
Impaired Loans, Total, Recorded Investment | 27,876 | 25,168 |
Impaired Loans, Total, Unpaid Principal | 36,719 | 26,414 |
Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,293 | 621 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,332 | 651 |
Impaired Loans, With A Related Allowance, Recorded Investment | 142 | 473 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 143 | 474 |
Impaired Loans, With A Related Allowance, Related Allowance | 52 | 238 |
Impaired Loans, Total, Recorded Investment | 1,435 | 1,094 |
Impaired Loans, Total, Unpaid Principal | 1,475 | 1,125 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,325 | 1,370 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,325 | 1,371 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 1,325 | 1,370 |
Impaired Loans, Total, Unpaid Principal | 1,325 | 1,371 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 953 | 734 |
Impaired Loans, With No Allowance, Unpaid Principal | 975 | 753 |
Impaired Loans, With A Related Allowance, Recorded Investment | 5,003 | 5,037 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 5,124 | 5,137 |
Impaired Loans, With A Related Allowance, Related Allowance | 1,906 | 1,873 |
Impaired Loans, Total, Recorded Investment | 5,956 | 5,771 |
Impaired Loans, Total, Unpaid Principal | 6,099 | 5,890 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With No Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 0 | 0 |
Impaired Loans, Total, Unpaid Principal | 0 | 0 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 271 | 273 |
Impaired Loans, With No Allowance, Unpaid Principal | 271 | 273 |
Impaired Loans, With A Related Allowance, Recorded Investment | 7,069 | 7,184 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 7,760 | 7,811 |
Impaired Loans, With A Related Allowance, Related Allowance | 3,363 | 2,537 |
Impaired Loans, Total, Recorded Investment | 7,340 | 7,457 |
Impaired Loans, Total, Unpaid Principal | 8,031 | 8,084 |
Commercial Related Loans [Member] | Manufacturing [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 12 | 13 |
Impaired Loans, With No Allowance, Unpaid Principal | 12 | 13 |
Impaired Loans, With A Related Allowance, Recorded Investment | 1,025 | 1,122 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 1,170 | 1,220 |
Impaired Loans, With A Related Allowance, Related Allowance | 487 | 463 |
Impaired Loans, Total, Recorded Investment | 1,037 | 1,135 |
Impaired Loans, Total, Unpaid Principal | 1,182 | 1,233 |
Commercial Related Loans [Member] | Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 2,412 | 1,784 |
Impaired Loans, With No Allowance, Unpaid Principal | 2,439 | 1,791 |
Impaired Loans, With A Related Allowance, Recorded Investment | 966 | 1,058 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 966 | 1,058 |
Impaired Loans, With A Related Allowance, Related Allowance | 537 | 701 |
Impaired Loans, Total, Recorded Investment | 3,378 | 2,842 |
Impaired Loans, Total, Unpaid Principal | 3,405 | 2,849 |
Commercial Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 3,771 | 1,864 |
Impaired Loans, With No Allowance, Unpaid Principal | 11,413 | 1,974 |
Impaired Loans, With A Related Allowance, Recorded Investment | 3,634 | 3,635 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 3,789 | 3,888 |
Impaired Loans, With A Related Allowance, Related Allowance | 1,506 | 1,608 |
Impaired Loans, Total, Recorded Investment | 7,405 | 5,499 |
Impaired Loans, Total, Unpaid Principal | 15,202 | 5,862 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,039 | 1,178 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,045 | 1,185 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 1,039 | 1,178 |
Impaired Loans, Total, Unpaid Principal | 1,045 | 1,185 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 153 | 275 |
Impaired Loans, With No Allowance, Unpaid Principal | 153 | 277 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 153 | 275 |
Impaired Loans, Total, Unpaid Principal | 153 | 277 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 667 | 677 |
Impaired Loans, With No Allowance, Unpaid Principal | 667 | 677 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 667 | 677 |
Impaired Loans, Total, Unpaid Principal | 667 | 677 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 219 | 226 |
Impaired Loans, With No Allowance, Unpaid Principal | 225 | 231 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 219 | 226 |
Impaired Loans, Total, Unpaid Principal | $ 225 | $ 231 |
Loans (Summary Of Average Impai
Loans (Summary Of Average Impaired Loans And Related Interest Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | $ 9,457 | $ 18,429 |
Impaired Loans, With No Related Allowance, Total Interest Income | 122 | 90 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 18,174 | 18,329 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 27,631 | 36,758 |
Impaired Loans, Total, Total Interest Income | 122 | 90 |
Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 8,348 | 17,000 |
Impaired Loans, With No Related Allowance, Total Interest Income | 95 | 74 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 18,174 | 18,329 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 26,522 | 35,329 |
Impaired Loans, Total, Total Interest Income | 95 | 74 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,109 | 1,429 |
Impaired Loans, With No Related Allowance, Total Interest Income | 27 | 16 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,109 | 1,429 |
Impaired Loans, Total, Total Interest Income | 27 | 16 |
Builder & Developer [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 957 | 1,124 |
Impaired Loans, With No Related Allowance, Total Interest Income | 12 | 14 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 308 | 69 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,265 | 1,193 |
Impaired Loans, Total, Total Interest Income | 12 | 14 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,347 | 3,610 |
Impaired Loans, With No Related Allowance, Total Interest Income | 22 | 34 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,347 | 3,610 |
Impaired Loans, Total, Total Interest Income | 22 | 34 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 844 | 615 |
Impaired Loans, With No Related Allowance, Total Interest Income | 6 | 5 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 5,020 | 4,346 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 5,864 | 4,961 |
Impaired Loans, Total, Total Interest Income | 6 | 5 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 0 | 0 |
Impaired Loans, Total, Total Interest Income | 0 | 0 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 272 | 2,723 |
Impaired Loans, With No Related Allowance, Total Interest Income | 2 | 3 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 7,127 | 7,402 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 7,399 | 10,125 |
Impaired Loans, Total, Total Interest Income | 2 | 3 |
Manufacturing [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 13 | 669 |
Impaired Loans, With No Related Allowance, Total Interest Income | 3 | 5 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 1,073 | 1,642 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,086 | 2,311 |
Impaired Loans, Total, Total Interest Income | 3 | 5 |
Agriculture [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 2,098 | 658 |
Impaired Loans, With No Related Allowance, Total Interest Income | 19 | 13 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 1,012 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 3,110 | 658 |
Impaired Loans, Total, Total Interest Income | 19 | 13 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 214 | 548 |
Impaired Loans, With No Related Allowance, Total Interest Income | 3 | 6 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 214 | 548 |
Impaired Loans, Total, Total Interest Income | 3 | 6 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 672 | 604 |
Impaired Loans, With No Related Allowance, Total Interest Income | 21 | 6 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 672 | 604 |
Impaired Loans, Total, Total Interest Income | 21 | 6 |
Other [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 2,817 | 7,601 |
Impaired Loans, With No Related Allowance, Total Interest Income | 31 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 3,634 | 4,870 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 6,451 | 12,471 |
Impaired Loans, Total, Total Interest Income | 31 | 0 |
Other [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 223 | 277 |
Impaired Loans, With No Related Allowance, Total Interest Income | 3 | 4 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 223 | 277 |
Impaired Loans, Total, Total Interest Income | $ 3 | $ 4 |
Loans (Summary Of Past Due Loan
Loans (Summary Of Past Due Loans, Nonaccrual Loans And Current Loans By Loan Segment And Class) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 27,369 | $ 24,750 |
Total Past Due and Nonaccrual | 33,609 | 29,489 |
Current | 1,443,052 | 1,475,646 |
Total Loans | 1,476,661 | 1,505,135 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 5,394 | 2,180 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 16 | 2,279 |
Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 830 | 280 |
Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 26,330 | 23,572 |
Total Past Due and Nonaccrual | 28,945 | 26,781 |
Current | 1,229,177 | 1,257,826 |
Total Loans | 1,258,122 | 1,284,607 |
Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,895 | 1,181 |
Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 1,865 |
Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 720 | 163 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,039 | 1,178 |
Total Past Due and Nonaccrual | 4,664 | 2,708 |
Current | 213,875 | 217,820 |
Total Loans | 218,539 | 220,528 |
Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3,499 | 999 |
Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 16 | 414 |
Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 110 | 117 |
Builder & Developer [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,229 | 885 |
Total Past Due and Nonaccrual | 2,044 | 928 |
Current | 150,388 | 158,384 |
Total Loans | 152,432 | 159,312 |
Builder & Developer [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 775 | 0 |
Builder & Developer [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Builder & Developer [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 40 | 43 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 225 | 225 |
Total Past Due and Nonaccrual | 225 | 225 |
Current | 207,172 | 207,002 |
Total Loans | 207,397 | 207,227 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 5,956 | 5,771 |
Total Past Due and Nonaccrual | 5,956 | 6,066 |
Current | 248,861 | 241,903 |
Total Loans | 254,817 | 247,969 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 295 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccrual | 0 | 0 |
Current | 79,729 | 80,260 |
Total Loans | 79,729 | 80,260 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 7,100 | 7,215 |
Total Past Due and Nonaccrual | 7,300 | 7,215 |
Current | 92,184 | 102,023 |
Total Loans | 99,484 | 109,238 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 200 | 0 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Manufacturing [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,037 | 1,135 |
Total Past Due and Nonaccrual | 1,431 | 1,544 |
Current | 80,920 | 84,967 |
Total Loans | 82,351 | 86,511 |
Manufacturing [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 394 | 409 |
Manufacturing [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Manufacturing [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Agriculture [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 3,378 | 2,842 |
Total Past Due and Nonaccrual | 3,781 | 2,856 |
Current | 75,011 | 77,863 |
Total Loans | 78,792 | 80,719 |
Agriculture [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 403 | 14 |
Agriculture [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Agriculture [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 153 | 275 |
Total Past Due and Nonaccrual | 1,750 | 449 |
Current | 90,874 | 94,419 |
Total Loans | 92,624 | 94,868 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,494 | 0 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 70 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 103 | 104 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 667 | 677 |
Total Past Due and Nonaccrual | 1,278 | 1,202 |
Current | 100,269 | 99,625 |
Total Loans | 101,547 | 100,827 |
Home Equity [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 601 | 249 |
Home Equity [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 10 | 276 |
Home Equity [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Other [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 7,405 | 5,499 |
Total Past Due and Nonaccrual | 8,208 | 7,947 |
Current | 294,912 | 305,424 |
Total Loans | 303,120 | 313,371 |
Other [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 123 | 463 |
Other [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 1,865 |
Other [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 680 | 120 |
Other [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 219 | 226 |
Total Past Due and Nonaccrual | 1,636 | 1,057 |
Current | 22,732 | 23,776 |
Total Loans | 24,368 | 24,833 |
Other [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,404 | 750 |
Other [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 6 | 68 |
Other [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | $ 7 | $ 13 |
Loans (Summary Of Loans Modifie
Loans (Summary Of Loans Modified Under TDRs) (Details) - Commercial Related Loans [Member] - Accruing [Member] - Loans Modified During Quarter [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($)contract | |
Financing Receivable, Modifications [Line Items] | |
Number of Contracts | contract | 1 |
Pre-Modification Outstanding Recorded Investments | $ 63 |
Post-Modification Outstanding Recorded Investments | 63 |
Recorded Investment at Period End | $ 61 |
Allowance For Loan Losses (Summ
Allowance For Loan Losses (Summary Of Allowance For Loan Losses By Loan Segment And Class) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | $ 21,066 | $ 19,144 |
Charge-offs | (7,686) | (126) |
Recoveries | 23 | 13 |
Provision | 9,435 | 1,050 |
Ending Balance | 22,838 | 20,081 |
Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 20,537 | 17,890 |
Charge-offs | (7,681) | (46) |
Recoveries | 10 | 3 |
Provision | 9,336 | 1,411 |
Ending Balance | 22,202 | 19,258 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 528 | 535 |
Charge-offs | (5) | (80) |
Recoveries | 13 | 10 |
Provision | 100 | 61 |
Ending Balance | 636 | 526 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1 | 719 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (1) | (422) |
Ending Balance | 0 | 297 |
Builder & Developer [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 2,263 | 2,835 |
Charge-offs | (170) | 0 |
Recoveries | 0 | 0 |
Provision | 133 | 132 |
Ending Balance | 2,226 | 2,967 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 2,565 | 2,636 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 117 | 16 |
Ending Balance | 2,682 | 2,652 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 4,632 | 3,945 |
Charge-offs | 0 | 0 |
Recoveries | 3 | 3 |
Provision | 124 | 62 |
Ending Balance | 4,759 | 4,010 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 742 | 732 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 314 | 67 |
Ending Balance | 1,056 | 799 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 3,575 | 1,813 |
Charge-offs | 0 | 0 |
Recoveries | 7 | 0 |
Provision | 976 | (12) |
Ending Balance | 4,558 | 1,801 |
Manufacturing [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,252 | 1,287 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 64 | (21) |
Ending Balance | 1,316 | 1,266 |
Agriculture [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,304 | 579 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | (164) | (1) |
Ending Balance | 1,140 | 578 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 158 | 126 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 77 | 6 |
Ending Balance | 235 | 132 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 203 | 265 |
Charge-offs | 0 | (20) |
Recoveries | 0 | 1 |
Provision | 101 | (51) |
Ending Balance | 304 | 195 |
Other [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 4,204 | 4,063 |
Charge-offs | (7,511) | (46) |
Recoveries | 0 | 0 |
Provision | 7,772 | 1,168 |
Ending Balance | 4,465 | 5,185 |
Other [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 167 | 144 |
Charge-offs | (5) | (60) |
Recoveries | 13 | 9 |
Provision | (78) | 106 |
Ending Balance | $ 97 | $ 199 |
Allowance For Loan Losses (Su_2
Allowance For Loan Losses (Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | $ 7,851 | $ 7,420 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 14,987 | 13,646 | ||
Allowance for Loan Losses, Balance | 22,838 | 21,066 | $ 20,081 | $ 19,144 |
Loans, Individually Evaluated For Impairment | 28,915 | 26,346 | ||
Loans, Collectively Evaluated For Impairment | 1,447,746 | 1,478,789 | ||
Loans, Balance | 1,476,661 | 1,505,135 | ||
Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 7,851 | 7,420 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 14,351 | 13,117 | ||
Allowance for Loan Losses, Balance | 22,202 | 20,537 | 19,258 | 17,890 |
Loans, Individually Evaluated For Impairment | 27,876 | 25,168 | ||
Loans, Collectively Evaluated For Impairment | 1,230,246 | 1,259,439 | ||
Loans, Balance | 1,258,122 | 1,284,607 | ||
Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 636 | 528 | ||
Allowance for Loan Losses, Balance | 636 | 528 | 526 | 535 |
Loans, Individually Evaluated For Impairment | 1,039 | 1,178 | ||
Loans, Collectively Evaluated For Impairment | 217,500 | 219,350 | ||
Loans, Balance | 218,539 | 220,528 | ||
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 0 | 1 | ||
Allowance for Loan Losses, Balance | 0 | 1 | 297 | 719 |
Loans, Individually Evaluated For Impairment | 0 | 0 | ||
Loans, Collectively Evaluated For Impairment | 0 | 0 | ||
Loans, Balance | 0 | 0 | ||
Builder & Developer [Member] | Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 52 | 238 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,174 | 2,025 | ||
Allowance for Loan Losses, Balance | 2,226 | 2,263 | 2,967 | 2,835 |
Loans, Individually Evaluated For Impairment | 1,435 | 1,094 | ||
Loans, Collectively Evaluated For Impairment | 150,997 | 158,218 | ||
Loans, Balance | 152,432 | 159,312 | ||
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,682 | 2,565 | ||
Allowance for Loan Losses, Balance | 2,682 | 2,565 | 2,652 | 2,636 |
Loans, Individually Evaluated For Impairment | 1,325 | 1,370 | ||
Loans, Collectively Evaluated For Impairment | 206,072 | 205,857 | ||
Loans, Balance | 207,397 | 207,227 | ||
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 1,906 | 1,873 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,853 | 2,759 | ||
Allowance for Loan Losses, Balance | 4,759 | 4,632 | 4,010 | 3,945 |
Loans, Individually Evaluated For Impairment | 5,956 | 5,771 | ||
Loans, Collectively Evaluated For Impairment | 248,861 | 242,198 | ||
Loans, Balance | 254,817 | 247,969 | ||
Hotel/Motel [Member] | Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 1,056 | 742 | ||
Allowance for Loan Losses, Balance | 1,056 | 742 | 799 | 732 |
Loans, Individually Evaluated For Impairment | 0 | 0 | ||
Loans, Collectively Evaluated For Impairment | 79,729 | 80,260 | ||
Loans, Balance | 79,729 | 80,260 | ||
Wholesale & Retail [Member] | Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 3,363 | 2,537 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 1,195 | 1,038 | ||
Allowance for Loan Losses, Balance | 4,558 | 3,575 | 1,801 | 1,813 |
Loans, Individually Evaluated For Impairment | 7,340 | 7,457 | ||
Loans, Collectively Evaluated For Impairment | 92,144 | 101,781 | ||
Loans, Balance | 99,484 | 109,238 | ||
Manufacturing [Member] | Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 487 | 463 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 829 | 789 | ||
Allowance for Loan Losses, Balance | 1,316 | 1,252 | 1,266 | 1,287 |
Loans, Individually Evaluated For Impairment | 1,037 | 1,135 | ||
Loans, Collectively Evaluated For Impairment | 81,314 | 85,376 | ||
Loans, Balance | 82,351 | 86,511 | ||
Agriculture [Member] | Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 537 | 701 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 603 | 603 | ||
Allowance for Loan Losses, Balance | 1,140 | 1,304 | 578 | 579 |
Loans, Individually Evaluated For Impairment | 3,378 | 2,842 | ||
Loans, Collectively Evaluated For Impairment | 75,414 | 77,877 | ||
Loans, Balance | 78,792 | 80,719 | ||
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 235 | 158 | ||
Allowance for Loan Losses, Balance | 235 | 158 | 132 | 126 |
Loans, Individually Evaluated For Impairment | 153 | 275 | ||
Loans, Collectively Evaluated For Impairment | 92,471 | 94,593 | ||
Loans, Balance | 92,624 | 94,868 | ||
Home Equity [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 304 | 203 | ||
Allowance for Loan Losses, Balance | 304 | 203 | 195 | 265 |
Loans, Individually Evaluated For Impairment | 667 | 677 | ||
Loans, Collectively Evaluated For Impairment | 100,880 | 100,150 | ||
Loans, Balance | 101,547 | 100,827 | ||
Other [Member] | Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 1,506 | 1,608 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,959 | 2,596 | ||
Allowance for Loan Losses, Balance | 4,465 | 4,204 | 5,185 | 4,063 |
Loans, Individually Evaluated For Impairment | 7,405 | 5,499 | ||
Loans, Collectively Evaluated For Impairment | 295,715 | 307,872 | ||
Loans, Balance | 303,120 | 313,371 | ||
Other [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | ||
Allowance for Loan Losses, Collectively Evaluated For Impairment | 97 | 167 | ||
Allowance for Loan Losses, Balance | 97 | 167 | $ 199 | $ 144 |
Loans, Individually Evaluated For Impairment | 219 | 226 | ||
Loans, Collectively Evaluated For Impairment | 24,149 | 24,607 | ||
Loans, Balance | $ 24,368 | $ 24,833 |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Deposits | ||
Aggregate amount of demand deposit overdrafts reclassified as loans | $ 68 | $ 86 |
Deposits (Schedule Of Compositi
Deposits (Schedule Of Composition Of Deposits) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Deposits | ||
Noninterest bearing demand | $ 274,382 | $ 273,968 |
Interest bearing demand | 182,414 | 174,248 |
Money market | 531,925 | 513,948 |
Savings | 90,411 | 85,489 |
Time deposits less than $100 | 309,597 | 303,527 |
Time deposits $100 to $250 | 183,820 | 175,477 |
Time deposits $250 or more | 66,798 | 63,907 |
Total deposits | $ 1,639,347 | $ 1,590,564 |
Short-Term Borrowings And Lon_3
Short-Term Borrowings And Long-Term Debt (Narrative) (Details) - USD ($) | 1 Months Ended | |||
Jun. 30, 2006 | Nov. 30, 2004 | Mar. 31, 2020 | Dec. 31, 2019 | |
Securities sold under agreements to repurchase | $ 6,196,000 | $ 7,925,000 | ||
Other short-term borrowings | 0 | 0 | ||
CVB Statutory Trust No. 2 [Member] | ||||
Pooled trust preferred debt issuance | $ 7,217,000 | |||
CVB Statutory Trust No. 1 [Member] | ||||
Pooled trust preferred debt issuance | $ 3,093,000 | |||
FHLBP [Member] | Federal Home Loan Bank [Member] | Municipal Deposit Letter Of Credits [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||||
Total availability of other borrowings | $ 42,000,000 | $ 42,000,000 |
Short-Term Borrowings And Lon_4
Short-Term Borrowings And Long-Term Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | ||
Total long-term debt | $ 71,627 | $ 81,632 |
Finance lease liabilities | 1,317 | 1,322 |
Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 10,310 | 10,310 |
FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 60,000 | 70,000 |
Due March 2020, 1.86% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 0 | $ 10,000 |
FHLBP due date | 2020-03 | |
Interest rate | 1.86% | |
Due June 2020, 1.87% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 15,000 | $ 15,000 |
FHLBP due date | 2020-06 | |
Interest rate | 1.87% | 1.87% |
Due June 2020, 2.70% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | $ 10,000 |
FHLBP due date | 2020-06 | |
Interest rate | 2.70% | 2.70% |
Due June 2021, 2.81% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | $ 10,000 |
FHLBP due date | 2021-06 | |
Interest rate | 2.81% | 2.81% |
Due June 2021, 2.14% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 15,000 | $ 15,000 |
FHLBP due date | 2021-06 | |
Interest rate | 2.14% | 2.14% |
Due May 2022, 2.93% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | $ 10,000 |
FHLBP due date | 2022-05 | 2022-05 |
Interest rate | 2.93% | 2.93% |
Due 2034, 2.76%, floating rate based on 3 month LIBOR plus 2.02%, callable quarterly [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 3,093 | $ 3,093 |
Interest rate | 2.76% | |
Long-term debt year due | 2034 | |
Due 2034, 2.76%, floating rate based on 3 month LIBOR plus 2.02%, callable quarterly [Member] | LIBOR [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
3 month LIBOR plus rate | 2.02% | |
Due 2036, 3.37% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 7,217 | $ 7,217 |
Interest rate | 3.37% | |
Long-term debt year due | 2036 | |
Due 2036, 3.37% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly [Member] | LIBOR [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
3 month LIBOR plus rate | 1.54% |
Leases (Narrative) (Details)
Leases (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2020propertycontract | |
Number of finance leases | contract | 1 |
Number of financial centers under finance leases | property | 1 |
Operating Lease [Member] | Minimum [Member] | |
Lessee leases remaining lease terms | 1 year |
Operating Lease [Member] | Maximum [Member] | |
Lessee leases remaining lease terms | 25 years |
Leases (Components of Lease Exp
Leases (Components of Lease Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Lease, Cost [Abstract] | ||
Operating lease cost | $ 203 | $ 188 |
Finance lease cost: | ||
Amortization of right-of-use assets | 12 | 17 |
Interest on lease liability | 12 | 13 |
Total finance lease cost | 24 | 30 |
Total lease cost | $ 227 | $ 218 |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 208 | $ 193 |
Operating cash flows from financing leases | 12 | 13 |
Financing cash flows from financing leases | 6 | 11 |
Right-of-use assets obtained in exchange for new lease obligations: | ||
Operating leases | 186 | 0 |
Finance leases | $ 0 | $ 0 |
Leases (Supplemental Balance Sh
Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Assets: | ||
Operating leases right-of-use assets | $ 3,030 | $ 3,021 |
Finance leases assets | 1,123 | 1,134 |
Total lease assets | 4,153 | 4,155 |
Liabilities: | ||
Operating | 3,187 | 3,184 |
Financing | 1,317 | 1,322 |
Total lease liabilities | $ 4,504 | $ 4,506 |
Weighted Average Remaining Lease Term (years) | ||
Operating leases | 5 years 6 months | 5 years 7 months 6 days |
Finance leases | 23 years 10 months 24 days | 24 years 2 months 12 days |
Weighted Average Discount Rate | ||
Operating leases | 2.71% | 2.72% |
Finance leases | 3.69% | 3.69% |
Leases (Future Minimum Payments
Leases (Future Minimum Payments for Financing Leases and Operating Leases) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Operating Leases | ||
2020 | $ 622 | $ 767 |
2021 | 768 | 706 |
2022 | 609 | 545 |
2023 | 491 | 491 |
2024 | 413 | 413 |
Thereafter | 508 | 507 |
Total lease payments | 3,411 | 3,429 |
Less imputed interest | (224) | (245) |
Total | 3,187 | 3,184 |
Finance Leases | ||
2020 | 56 | 74 |
2021 | 75 | 75 |
2022 | 75 | 75 |
2023 | 75 | 75 |
2024 | 75 | 75 |
Thereafter | 1,669 | 1,668 |
Total lease payments | 2,025 | 2,042 |
Less imputed interest | (708) | (720) |
Total | $ 1,317 | $ 1,322 |
Regulatory Matters (Schedule Of
Regulatory Matters (Schedule Of Risk-Based Capital Ratios And Leverage Ratios) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Common equity Tier 1, Actual, Amount | $ 182,956 | $ 187,312 | |
Common equity Tier 1, Minimum for Basel III Capital Adequacy, Amount | $ 104,598 | $ 105,359 | |
Common equity Tier 1, Actual, Ratio | 12.24% | 12.45% | |
Common equity Tier 1, Minimum for Basel III Capital Adequacy, Ratio | 7.00% | 7.00% | |
Tier 1 risk based, Actual, Amount | $ 192,956 | $ 197,312 | |
Tier 1 risk based, Minimum for Basel III Capital Adequacy, Amount | $ 127,012 | $ 127,936 | |
Tier 1 risk based, Actual, Ratio | 12.91% | 13.11% | |
Tier 1 risk based, Minimum for Basel III Capital Adequacy, Ratio | 8.50% | 8.50% | |
Total risk based, Actual, Amount | $ 211,686 | $ 216,154 | |
Total risk based, Minimum for Basel III Capital Adequacy, Amount | $ 156,897 | $ 158,039 | |
Total risk based, Actual, Ratio | 14.17% | 14.36% | |
Total risk based, Minimum for Basel III Capital Adequacy, Ratio | 10.50% | 10.50% | |
Leverage, Actual, Amount | $ 192,956 | $ 197,312 | |
Leverage, Minimum for Basel III Capital Adequacy, Amount | $ 75,787 | $ 74,820 | |
Leverage, Actual, Ratio | 10.18% | 10.55% | |
Leverage, Minimum for Basel III Capital Adequacy, Ratio | 4.00% | 4.00% | |
PeoplesBank, A Codorus Valley Company [Member] | |||
Common equity Tier 1, Actual, Amount | $ 189,263 | $ 193,421 | |
Common equity Tier 1, Minimum for Basel III Capital Adequacy, Amount | 104,356 | 105,118 | |
Common equity Tier 1, Well Capitalized Minimum, Amount | [1] | $ 96,902 | $ 97,610 |
Common equity Tier 1, Actual, Ratio | 12.70% | 12.88% | |
Common equity Tier 1, Minimum for Basel III Capital Adequacy, Ratio | 7.00% | 7.00% | |
Common equity Tier 1, Well Capitalized Minimum, Ratio | [1] | 6.50% | 6.50% |
Tier 1 risk based, Actual, Amount | $ 189,263 | $ 193,421 | |
Tier 1 risk based, Minimum for Basel III Capital Adequacy, Amount | 126,717 | 127,643 | |
Tier 1 risk based, Well Capitalized Minimum, Amount | [1] | $ 119,263 | $ 120,135 |
Tier 1 risk based, Actual, Ratio | 12.70% | 12.88% | |
Tier 1 risk based, Minimum for Basel III Capital Adequacy, Ratio | 8.50% | 8.50% | |
Tier 1 risk based, Well Capitalized Minimum, Ratio | [1] | 8.00% | 8.00% |
Total risk based, Actual, Amount | $ 207,950 | $ 212,220 | |
Total risk based, Minimum for Basel III Capital Adequacy, Amount | 156,533 | 157,677 | |
Total risk based, Well Capitalized Minimum, Amount | [1] | $ 149,079 | $ 150,169 |
Total risk based, Actual, Ratio | 13.95% | 14.13% | |
Total risk based, Minimum for Basel III Capital Adequacy, Ratio | 10.50% | 10.50% | |
Total risk based, Well Capitalized Minimum, Ratio | [1] | 10.00% | 10.00% |
Leverage, Actual, Amount | $ 189,263 | $ 193,421 | |
Leverage, Minimum for Basel III Capital Adequacy, Amount | 75,648 | 74,673 | |
Leverage, Well Capitalized Minimum, Amount | [1] | $ 94,560 | $ 93,341 |
Leverage, Actual, Ratio | 10.01% | 10.36% | |
Leverage, Minimum for Basel III Capital Adequacy, Ratio | 4.00% | 4.00% | |
Leverage, Well Capitalized Minimum, Ratio | [1] | 5.00% | 5.00% |
[1] | To be "well capitalized" under the prompt corrective action provisions in the Basel III framework. "Well capitalized" applies to PeoplesBank only. |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions | Dec. 10, 2019 | Dec. 11, 2018 | Mar. 31, 2020 |
Class of Stock [Line Items] | |||
Stock dividend rate | 5.00% | 5.00% | |
Stock dividend common stock shares issued | 463,193 | 447,092 | |
Shares repurchased during the period | 5,335 | ||
2020 Share Repurchase Program [Member] | |||
Class of Stock [Line Items] | |||
Shares repurchased during the period | 5,335 | ||
Shares repurchased average price per share | $ 16.37 | ||
Maximum [Member] | 2020 Share Repurchase Program [Member] | |||
Class of Stock [Line Items] | |||
Share repurchase program approved amount | $ 5 |
Contingent Liabilities (Details
Contingent Liabilities (Details) | Mar. 31, 2020claim |
Pending [Member] | |
Loss Contingencies [Line Items] | |
Number of legal proceedings pending | 0 |
Guarantees (Details)
Guarantees (Details) - Standby Letters Of Credit [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | |
Loss Contingencies [Line Items] | ||
Standby letters of credit outstanding | $ 20,059 | $ 17,253 |
Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Standby letters of credit expiration period | 1 year |
Fair Value Measurements And F_2
Fair Value Measurements And Fair Values Of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Impaired loans, valuation allowances | $ 7,851 | $ 7,420 |
Foreclosed Real Estate [Member] | ||
Foreclosed real estate, valuation allowances | 797 | 797 |
Foreclosed real estate, write-downs | 617 | 617 |
Nonrecurring [Member] | ||
Impaired loans | 10,672 | 11,297 |
Fair value of foreclosed real estate | 797 | 797 |
Mortgage servicing rights | 740 | 1,047 |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Impaired loans | 10,672 | 11,297 |
Impaired loans, valuation allowances | 7,851 | 7,420 |
Impaired loans charge-offs | 7,634 | 134 |
(Level 3) Significant Other Unobservable Inputs [Member] | Nonrecurring [Member] | ||
Impaired loans | 10,672 | 11,297 |
Fair value of foreclosed real estate | 797 | 797 |
Mortgage servicing rights | $ 740 | $ 1,047 |
Fair Value Measurements And F_3
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Assets Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 171,738 | $ 159,675 |
Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 5,086 | 9,953 |
Recurring [Member] | U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 14,923 | |
Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 140,702 | 108,155 |
Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 24,912 | 26,644 |
Recurring [Member] | Corporate Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,038 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 5,086 | 9,953 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | Corporate Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 14,923 | |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 140,702 | 108,155 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 24,912 | 26,644 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | Corporate Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,038 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | $ 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | Corporate Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 0 |
Fair Value Measurements And F_4
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Assets Measured At Fair Value On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 10,672 | $ 11,297 |
Foreclosed real estate | 797 | 797 |
Mortgage servicing rights | 740 | 1,047 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Foreclosed real estate | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 10,672 | 11,297 |
(Level 3) Significant Other Unobservable Inputs [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 10,672 | 11,297 |
Foreclosed real estate | 797 | 797 |
Mortgage servicing rights | $ 740 | $ 1,047 |
Fair Value Measurements And F_5
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - (Level 3) Significant Other Unobservable Inputs [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | ||
Impaired Loans [Member] | Appraisal Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Assets measured at fair value | [1],[2] | $ 6,428 | $ 5,991 |
Unobservable Input | Appraisal adjustments | ||
Impaired Loans [Member] | Business Asset Valuation Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Assets measured at fair value | [3],[4] | $ 4,244 | $ 5,306 |
Unobservable Input | Business asset valuation adjustments | ||
Impaired Loans [Member] | Minimum [Member] | Appraisal Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [1],[2] | 15.00% | 15.00% |
Impaired Loans [Member] | Minimum [Member] | Business Asset Valuation Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [3],[4] | 10.00% | 10.00% |
Impaired Loans [Member] | Maximum [Member] | Appraisal Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [1],[2] | (50.00%) | 55.00% |
Impaired Loans [Member] | Maximum [Member] | Business Asset Valuation Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [3],[4] | (68.00%) | 73.00% |
Impaired Loans [Member] | Weighted Average [Member] | Appraisal Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [1],[2] | 41.00% | 44.00% |
Impaired Loans [Member] | Weighted Average [Member] | Business Asset Valuation Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | [3],[4] | 64.00% | 70.00% |
Foreclosed Real Estate [Member] | Appraisal Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Assets measured at fair value | $ 797 | $ 797 | |
Foreclosed Real Estate [Member] | Minimum [Member] | Appraisal Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | 22.00% | 22.00% | |
Foreclosed Real Estate [Member] | Maximum [Member] | Appraisal Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | 22.00% | 22.00% | |
Foreclosed Real Estate [Member] | Weighted Average [Member] | Appraisal Adjustments [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | 22.00% | 22.00% | |
Mortgage Servicing Rights [Member] | Multiple Of Annual Service Fee [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Assets measured at fair value | $ 740 | $ 1,047 | |
Unobservable Input | Multiple of annual service fee | ||
Mortgage Servicing Rights [Member] | Minimum [Member] | Multiple Of Annual Service Fee [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | 12.90% | 7.90% | |
Mortgage Servicing Rights [Member] | Maximum [Member] | Multiple Of Annual Service Fee [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | 17.70% | 8.90% | |
Mortgage Servicing Rights [Member] | Weighted Average [Member] | Multiple Of Annual Service Fee [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Range | 16.70% | 8.70% | |
[1] | Appraisal amounts may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expense adjustments are presented as a percent of the appraisal. | ||
[2] | Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. | ||
[3] | Business asset valuation may be adjusted downward by the corporation's management qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses adjustments are presented as a percent of the financial statement book value. | ||
[4] | Fair value is generally determined through customer-provided financial statements and bankruptcy court documents. |
Fair Value Measurements And F_6
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale | $ 171,738 | $ 159,675 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 185,258 | 131,591 |
Securities available-for-sale | 171,738 | 159,675 |
Restricted investment in bank stocks | 4,551 | |
Loans held for sale | 10,858 | 11,803 |
Loans, net | 1,453,823 | 1,484,069 |
Interest receivable | 4,872 | 5,016 |
Deposits | 1,639,347 | 1,590,564 |
Short-term borrowings | 6,196 | 7,925 |
Long-term debt | 70,310 | 80,310 |
Interest payable | 787 | 842 |
Off-balance sheet instruments | 0 | 0 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 185,258 | 131,591 |
Securities available-for-sale | 171,738 | 159,675 |
Restricted investment in bank stocks | 4,551 | |
Loans held for sale | 11,366 | 12,460 |
Loans, net | 1,469,994 | 1,472,772 |
Interest receivable | 4,872 | 5,016 |
Deposits | 1,636,607 | 1,582,179 |
Short-term borrowings | 6,196 | 7,925 |
Long-term debt | 70,494 | 79,579 |
Interest payable | 787 | 842 |
Off-balance sheet instruments | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 185,258 | 131,591 |
Securities available-for-sale | 5,086 | 9,953 |
Restricted investment in bank stocks | 0 | |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Interest receivable | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 0 | 0 |
Interest payable | 0 | 0 |
Off-balance sheet instruments | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 166,652 | 149,722 |
Restricted investment in bank stocks | 4,551 | |
Loans held for sale | 11,366 | 12,460 |
Loans, net | 0 | 0 |
Interest receivable | 4,872 | 5,016 |
Deposits | 1,636,607 | 1,582,179 |
Short-term borrowings | 6,196 | 7,925 |
Long-term debt | 61,026 | 70,486 |
Interest payable | 787 | 842 |
Off-balance sheet instruments | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 0 | 0 |
Restricted investment in bank stocks | 0 | |
Loans held for sale | 0 | 0 |
Loans, net | 1,469,994 | 1,472,772 |
Interest receivable | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 9,468 | 9,093 |
Interest payable | 0 | 0 |
Off-balance sheet instruments | $ 0 | $ 0 |
Assets And Liabilities Subjec_3
Assets And Liabilities Subject To Offsetting (Schedule Of Securities Sold Under Agreements To Repurchase) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross Amounts of Recognized Liabilities | $ 6,196 | $ 7,925 |
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition | 0 | 0 |
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition | 6,196 | 7,925 |
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Cash Collateral Pledged | 0 | 0 |
Repurchase Agreements, Net Amount | (3,283) | (1,676) |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | (9,479) | (9,601) |
U.S. Agencies [Member] | ||
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | $ 0 | $ 0 |