Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 09, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | CITIZENS & NORTHERN CORP | ||
Entity Central Index Key | 810,958 | ||
Trading Symbol | cznc | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 12,246,834 | ||
Entity Public Float | $ 274,571,344 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Noninterest-bearing | $ 25,664 | $ 17,551 |
Interest-bearing | 14,580 | 14,558 |
Total cash and due from banks | 40,244 | 32,109 |
Available-for-sale securities, at fair value | 356,908 | 395,077 |
Loans held for sale | 765 | 142 |
Loans receivable | 815,713 | 751,835 |
Allowance for loan losses | (8,856) | (8,473) |
Loans, net | 806,857 | 743,362 |
Bank-owned life insurance | 20,083 | 19,704 |
Accrued interest receivable | 4,048 | 3,963 |
Bank premises and equipment, net | 15,432 | 15,397 |
Foreclosed assets held for sale | 1,598 | 2,180 |
Deferred tax asset, net | 3,289 | 5,117 |
Intangible assets - Goodwill and core deposit intangibles | 11,954 | 11,959 |
Other assets | 15,781 | 13,282 |
TOTAL ASSETS | 1,276,959 | 1,242,292 |
LIABILITIES | ||
Noninterest-bearing | 241,214 | 224,175 |
Interest-bearing | 767,235 | 759,668 |
Total deposits | 1,008,449 | 983,843 |
Short-term borrowings | 61,766 | 26,175 |
Long-term borrowings | 9,189 | 38,454 |
Accrued interest and other liabilities | 9,112 | 7,812 |
TOTAL LIABILITIES | 1,088,516 | 1,056,284 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $1,000 par value; authorized 30,000 shares; $1,000 liquidation preference per share; no shares issued | 0 | 0 |
Common stock, par value $1.00 per share; authorized 20,000,000 shares; issued 12,655,171; outstanding 12,214,525 at December 31, 2017 and 12,113,228 December 31, 2016 | 12,655 | 12,655 |
Paid-in capital | 72,035 | 71,730 |
Retained earnings | 113,608 | 112,790 |
Treasury stock, at cost; 440,646 shares at December 31, 2017 and 541,943 shares at December 31, 2016 | (8,348) | (10,269) |
Accumulated other comprehensive loss | (1,507) | (898) |
TOTAL STOCKHOLDERS' EQUITY | 188,443 | 186,008 |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ 1,276,959 | $ 1,242,292 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, authorized shares (in shares) | 30,000 | 30,000 |
Preferred stock, liquidation preference per share (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 12,655,171 | 12,655,171 |
Common stock, shares outstanding (in shares) | 12,214,525 | 12,113,228 |
Treasury stock, shares (in shares) | 440,646 | 541,943 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Interest and fees on loans: | ||||
Taxable | $ 34,907 | $ 32,827 | $ 31,311 | |
Tax-exempt | 2,037 | 1,783 | 1,668 | |
Interest on mortgages held for sale | 25 | 27 | 16 | |
Interest on balances with depository institutions | 190 | 116 | 93 | |
Income from available-for-sale securities: | ||||
Taxable | 5,478 | 5,846 | 7,303 | |
Tax-exempt | 3,205 | 3,429 | 3,844 | |
Dividends | 21 | 70 | 284 | |
Total interest and dividend income | 45,863 | 44,098 | 44,519 | |
INTEREST EXPENSE | ||||
Interest on deposits | 2,403 | 2,085 | 1,924 | |
Interest on short-term borrowings | 213 | 155 | 32 | |
Interest on long-term borrowings | 1,299 | 1,453 | 2,646 | |
Total interest expense | 3,915 | 3,693 | 4,602 | |
Net interest income | 41,948 | 40,405 | 39,917 | |
Provision for loan losses | 801 | 1,221 | 845 | |
Net interest income after provision for loan losses | 41,147 | 39,184 | 39,072 | |
OTHER INCOME | ||||
Service charges on deposit accounts | 4,488 | 4,695 | 4,864 | |
Service charges and fees | 417 | 439 | 494 | |
Trust and financial management revenue | 5,399 | 4,760 | 4,626 | |
Brokerage revenue | 797 | 756 | 839 | |
Insurance commissions, fees and premiums | 115 | 102 | 109 | |
Interchange revenue from debit card transactions | 2,221 | 1,943 | 1,935 | |
Net gains from sale of loans | 818 | 1,029 | 735 | |
Loan servicing fees, net | 244 | 103 | 216 | |
Increase in cash surrender value of life insurance | 379 | 382 | 386 | |
Other operating income | 1,275 | 1,302 | 1,274 | |
Sub-total | 16,153 | 15,511 | 15,478 | |
Realized gains on available-for-sale securities, net | 257 | 1,158 | 2,861 | |
Total other income | 16,410 | 16,669 | 18,339 | |
OTHER EXPENSES | ||||
Salaries and wages | 15,806 | 15,411 | 14,682 | |
Pensions and other employee benefits | 5,374 | 4,717 | 4,420 | |
Occupancy expense, net | 2,340 | 2,340 | 2,574 | |
Furniture and equipment expense | 1,834 | 1,730 | 1,860 | |
FDIC Assessments | 376 | 488 | 603 | |
Pennsylvania shares tax | 1,329 | 1,274 | 1,248 | |
Professional fees | 1,086 | 1,126 | 638 | |
Automated teller machine and interchange expense | 1,284 | 1,137 | 988 | |
Software subscriptions | 1,190 | 981 | 876 | |
Loss on prepayment of debt | 0 | 0 | 2,573 | |
Other operating expense | 6,348 | 5,540 | 5,141 | |
Total other expenses | 36,967 | 34,744 | 35,603 | |
Income before income tax provision | 20,590 | 21,109 | 21,808 | |
Income tax provision | 7,156 | 5,347 | 5,337 | |
NET INCOME | $ 13,434 | $ 15,762 | $ 16,471 | |
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) | [1] | $ 1.10 | $ 1.30 | $ 1.35 |
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) | [1] | $ 1.10 | $ 1.30 | $ 1.35 |
[1] | Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares with nonforfeitable dividends (participating securities). |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 13,434 | $ 15,762 | $ 16,471 |
Unrealized losses on available-for-sale securities: | |||
Unrealized holding losses on available-for-sale securities | (691) | (4,138) | (1,429) |
Reclassification adjustment for gains realized in income | (257) | (1,158) | (2,861) |
Other comprehensive loss on available-for-sale securities | (948) | (5,296) | (4,290) |
Unfunded pension and postretirement obligations: | |||
Changes from plan amendments and actuarial gains and losses included in accumulated other comprehensive gain (loss) | 36 | 46 | (135) |
Amortization of net transition obligation, prior service cost, net actuarial (gain) loss and loss on settlement included in net periodic benefit cost | (24) | (22) | 67 |
Other comprehensive gain (loss) on unfunded retirement obligations | 12 | 24 | (68) |
Other comprehensive loss before income tax | (936) | (5,272) | (4,358) |
Income tax related to other comprehensive loss | 327 | 1,846 | 1,526 |
Net other comprehensive loss | (609) | (3,426) | (2,832) |
Comprehensive income | $ 12,825 | $ 12,336 | $ 13,639 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2014 | 12,655,171 | 375,191 | ||||
Balance at Dec. 31, 2014 | $ 12,655 | $ (6,744) | $ 71,541 | $ 105,550 | $ 5,360 | $ 188,362 |
Net income | 16,471 | 16,471 | ||||
Other comprehensive loss, net | (2,832) | (2,832) | ||||
Cash dividends declared on common stock, $1.04 per share | (12,710) | (12,710) | ||||
Shares issued for dividend reinvestment plan (in shares) | (73,810) | |||||
Shares issued for dividend reinvestment plan | $ 1,379 | 86 | 1,465 | |||
Treasury stock purchased (in shares) | 226,900 | |||||
Treasury stock purchased | $ (4,415) | (4,415) | ||||
Shares issued from treasury related to exercise of stock options (in shares) | (22,435) | |||||
Shares issued from treasury related to exercise of stock options | $ 408 | (27) | 381 | |||
Restricted stock granted (in shares) | (34,800) | |||||
Restricted stock granted | $ 627 | (627) | 0 | |||
Forfeiture of restricted stock (in shares) | 3,502 | |||||
Forfeiture of restricted stock | $ (59) | 59 | 0 | |||
Stock-based compensation expense | 606 | 606 | ||||
Tax benefit from compensation plans | 16 | 143 | 159 | |||
Balance (in shares) at Dec. 31, 2015 | 12,655,171 | 474,548 | ||||
Balance at Dec. 31, 2015 | $ 12,655 | $ (8,804) | 71,654 | 109,454 | 2,528 | 187,487 |
Net income | 15,762 | 15,762 | ||||
Other comprehensive loss, net | (3,426) | (3,426) | ||||
Cash dividends declared on common stock, $1.04 per share | (12,578) | (12,578) | ||||
Shares issued for dividend reinvestment plan (in shares) | (68,571) | |||||
Shares issued for dividend reinvestment plan | $ 1,296 | 170 | 1,466 | |||
Treasury stock purchased (in shares) | 187,300 | |||||
Treasury stock purchased | $ (3,723) | (3,723) | ||||
Shares issued from treasury related to exercise of stock options (in shares) | (19,113) | |||||
Shares issued from treasury related to exercise of stock options | $ 361 | (98) | 263 | |||
Restricted stock granted (in shares) | (35,427) | |||||
Restricted stock granted | $ 658 | (658) | 0 | |||
Forfeiture of restricted stock (in shares) | 3,431 | |||||
Forfeiture of restricted stock | $ (61) | 61 | 0 | |||
Stock-based compensation expense | 578 | 578 | ||||
Tax benefit from compensation plans | 23 | 152 | 175 | |||
Other stock-based expense (in shares) | (225) | |||||
Other stock-based expense | $ 4 | 4 | ||||
Balance (in shares) at Dec. 31, 2016 | 12,655,171 | 541,943 | ||||
Balance at Dec. 31, 2016 | $ 12,655 | $ (10,269) | 71,730 | 112,790 | (898) | 186,008 |
Net income | 13,434 | 13,434 | ||||
Other comprehensive loss, net | (609) | (609) | ||||
Cash dividends declared on common stock, $1.04 per share | (12,616) | (12,616) | ||||
Shares issued for dividend reinvestment plan (in shares) | (63,066) | |||||
Shares issued for dividend reinvestment plan | $ 1,195 | 276 | 1,471 | |||
Shares issued from treasury related to exercise of stock options (in shares) | (11,780) | |||||
Shares issued from treasury related to exercise of stock options | $ 227 | (100) | 127 | |||
Restricted stock granted (in shares) | (30,782) | |||||
Restricted stock granted | $ 583 | (583) | 0 | |||
Forfeiture of restricted stock (in shares) | 4,406 | |||||
Forfeiture of restricted stock | $ (85) | 85 | 0 | |||
Stock-based compensation expense | 627 | 627 | ||||
Other stock-based expense (in shares) | (75) | |||||
Other stock-based expense | $ 1 | 1 | ||||
Balance (in shares) at Dec. 31, 2017 | 12,655,171 | 440,646 | ||||
Balance at Dec. 31, 2017 | $ 12,655 | $ (8,348) | $ 72,035 | $ 113,608 | $ (1,507) | $ 188,443 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retained Earnings [Member] | |||
Common stock, dividends, per share (in dollars per share) | $ 1.04 | $ 1.04 | $ 1.04 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 13,434 | $ 15,762 | $ 16,471 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 801 | 1,221 | 845 |
Realized gains on available-for-sale securities, net | (257) | (1,158) | (2,861) |
Loss on prepayment of debt | 0 | 0 | 2,573 |
Depreciation expense | 1,639 | 1,589 | 1,888 |
Accretion and amortization on securities, net | 1,157 | 1,462 | 1,562 |
Increase in cash surrender value of life insurance | (379) | (382) | (386) |
Gain on life insurance benefits | 0 | 0 | (212) |
Stock-based compensation and other expense | 628 | 582 | 606 |
Deferred income taxes | 2,155 | (156) | 79 |
Decrease in fair value of servicing rights | 168 | 282 | 162 |
Gains on sales of loans, net | (818) | (1,029) | (735) |
Origination of loans for sale | (25,129) | (29,296) | (21,823) |
Proceeds from sales of loans | 25,119 | 30,215 | 22,101 |
Increase in accrued interest receivable and other assets | (595) | (410) | (1,697) |
Increase (decrease) in accrued interest payable and other liabilities | 1,312 | (216) | 1,195 |
Other | 139 | 44 | (82) |
Net Cash Provided by Operating Activities | 19,374 | 18,510 | 19,686 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Proceeds from maturities of certificates of deposit | 348 | 1,540 | 1,780 |
Purchase of certificates of deposit | (100) | (2,280) | (100) |
Proceeds from sales of available-for-sale securities | 24,118 | 37,032 | 44,504 |
Proceeds from calls and maturities of available-for-sale securities | 63,679 | 74,477 | 89,159 |
Purchase of available-for-sale securities | (51,476) | (91,896) | (40,363) |
Redemption of Federal Home Loan Bank of Pittsburgh stock | 7,288 | 5,277 | 5,029 |
Purchase of Federal Home Loan Bank of Pittsburgh stock | (9,418) | (5,046) | (8,102) |
Net increase in loans | (65,225) | (49,085) | (77,129) |
Proceeds from bank owned life insurance | 0 | 1,442 | 1,953 |
Purchase of premises and equipment | (1,697) | (1,580) | (1,039) |
Proceeds from sale of foreclosed assets | 1,387 | 539 | 2,536 |
Other | 191 | 181 | 181 |
Net Cash (Used in) Provided by Investing Activities | (30,905) | (29,399) | 18,409 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Net increase (decrease) in deposits | 24,606 | 48,228 | (32,374) |
Net increase (decrease) in short-term borrowings | 35,591 | (27,321) | 47,959 |
Proceeds from long-term borrowings | 8,000 | 0 | 0 |
Repayments of long-term borrowings | (37,265) | (313) | (36,866) |
Purchase of treasury stock | 0 | (3,723) | (4,415) |
Sale of treasury stock | 127 | 263 | 381 |
Tax benefit from compensation plans | 0 | 175 | 159 |
Common dividends paid | (11,145) | (11,112) | (11,245) |
Net Cash Provided by (Used in) Financing Activities | 19,914 | 6,197 | (36,401) |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 8,383 | (4,692) | 1,694 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 28,621 | 33,313 | 31,619 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 37,004 | 28,621 | 33,313 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
Assets acquired through foreclosure of real estate loans | 940 | 1,508 | 2,523 |
Interest paid | 3,934 | 3,698 | 4,636 |
Income taxes paid | $ 4,913 | $ 5,129 | $ 4,827 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1 . NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF CONSOLIDATION - The consolidated financial statements include the accounts of Citizens & Northern Corporation and its subsidiaries, Citizens & Northern Bank (“C&N Bank”), Bucktail Life Insurance Company and Citizens & Northern Investment Corporation (collectively, “Corporation”), as well as C&N Bank’s wholly-owned subsidiary, C&N Financial Services Corporation. In December 2017, no 2017. NATURE OF OPERATIONS - The Corporation is primarily engaged in providing a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. Lending products include mortgage loans, commercial loans and consumer loans, as well as specialized instruments such as commercial letters-of-credit. Deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, Individual Retirement Accounts and certificates of deposit. The Corporation also offers non-insured “RepoSweep” accounts. The Corporation provides Trust and Financial Management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services . The Corporation offers a variety of personal and commercial insurance products through C&N Financial Services Corporation. C&N Financial Services Corporation also offers mutual funds, annuities, educational savings accounts and other investment products through registered agents. Management has determined that the Corporation has one ’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Corporation supports the others. The Corporation is subject to competition from other financial institutions. It is also subject to regulation by certain federal and state agencies and undergoes periodic examination by those regulatory authorities . As a consequence, the Corporation’s business is particularly susceptible to being affected by future federal and state legislation and regulations. USE OF ESTIMATES - The financial information is presented in accordance with generally accepted accounting principles and general practice for financial institutions in the United States of America (“U.S. GAAP”). In preparing financial statements, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements. In addition, these estimates and assumptions affect revenues and expenses in the financial statements and as such, actual results could differ from those estimates. Material estimates that are particularly susceptible to change include: ( 1 2 ( 3 not 4 5 INVESTMENT SECURITIES - Investment securities are accounted for as follows: Available-for-sale securities - includes debt securities not may may Other-than-temporary impairment - Credit related declines in the fair value of available-for-sale securities that are deemed to be other-than-temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment (OTTI) losses, management considers ( 1 2 3 4 not Restricted equity securities - Restricted equity securities consist primarily of Federal Home Loan Bank of Pittsburgh stock, and are carried at cost and evaluated for impairment. Holdings of restricted equity securities are included in Other Assets in the consolidated balance sheets, and dividends received on restricted securities are included in Other Income in the consolidated statements of income. LOANS HELD FOR SALE - LOANS RECEIVABLE - Loans receivable which management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at unpaid principal balances, less the allowance for loan losses and net deferred loan fees. Interest income is accrued on the unpaid principal balance. Loan origination and commitment fees, as well as certain direct origination costs, are deferred and amortized as a yield adjustment over the lives of the related loans using the interest method. The loans receivable portfolio is segmented into residential mortgage, commercial and consumer loans. The residential mortgage segment includes the following classes: first Loans are placed on nonaccrual status for all classes of loans when, in the opinion of management, collection of interest is doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is not six no ALLOWANCE FOR LOAN LOSSES - no 120 The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management 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 may may December 31, 2017 2016, no The allowance consists primarily of two – ( 1 2 The specific component relates to loans that are classified as impaired based on a detailed assessment of certain larger loan relationships evaluated by a management committee referred to as the Watch List Committee . Specific loan relationships are identified for evaluation based on the related credit risk rating. For individual loans classified as impaired, an allowance is established when the collateral value less estimated selling costs, present value of 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 individually impaired, as well as smaller balance homogeneous classes of loans, such as residential real estate, home equity lines of credit and other consumer loans. Accordingly, the Corporation generally does not three The qualitative factors used in the general component calculations are designed to address credit risk characteristics associated with each segment . The Corporation’s credit risk associated with all of the segments is significantly impacted by these factors, which include economic conditions within its market area, the Corporation’s lending policies, changes or trends in the portfolio, risk profile, competition, regulatory requirements and other factors. Further, the residential mortgage segment is significantly affected by the values of residential real estate that provide collateral for the loans. The majority of the Corporation’s commercial segment loans (approximately 53% December 31, 2017) Loans are classified as 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 by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not For commercial loans secured by real estate, estimated fair values are determined primarily through third For commercial and industrial 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 data 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. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a troubled debt restructuring generally involve reductions in required payments, an extension of a loan’s stated maturity date or a temporary reduction in interest rate. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings may not six BANK PREMISES AND EQUIPMENT - Bank premises and equipment are stated at cost less accumulated depreciation. Repair and maintenance expenditures which extend the useful lives of assets are capitalized, and other repair and maintenance expenditures are expensed as incurred. Depreciation expense is computed using the straight-line method. IMPAIRMENT OF LONG-LIVED ASSETS - The Corporation reviews long-lived assets, such as premises and equipment and intangibles, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not may may not FORECLOSED ASSETS HELD FOR SALE - Foreclosed assets held for sale consist of real estate acquired by foreclosure and are initially recorded at fair value, less estimated selling costs. GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS - Goodwill represents the excess of the cost of acquisitions over the fair value of the net assets acquired. Goodwill is tested at least annually for impairment, or more often if events or circumstances indicate there may may not . SERVICING RIGHTS - The estimated fair value of servicing rights related to mortgage loans sold and serviced by the Corporation is recorded as an asset upon the sale of such loans. The valuation of servicing rights is adjusted quarterly, with changes in fair value included in Loan Servicing Fees, Net, in the consolidated statements of income. Significant inputs to the valuation include expected net servicing income to be received, the expected life of the underlying loans and the discount rate. The servicing rights asset is included in Other Assets in the consolidated balance sheets. INCOME TAXES - Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases given the provisions of the enacted tax laws. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are not Tax benefits from investments in limited partnerships that have qualified for federal low-income tax credits are recognized as a reduction in the provision for income tax over the term of the investment using the effective yield method. The Corporation includes income tax penalties in the provision for income tax. The Corporation has no STOCK COMPENSATION PLANS - The Corporation’s stock-based compensation policy applies to all forms of stock-based compensation including stock options and restricted stock units. All stock-based compensation is accounted for under the fair value method as required by U.S. GAAP. The expense associated with stock-based compensation is recognized over the vesting period of each individual arrangement. The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option valuation model . The fair value of restricted stock is based on the current market price on the date of grant. OFF-BALANCE SHEET FINANCIAL INSTRUMENTS - In the ordinary course of business, the Corporation has entered into off-balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they become payable. CASH FLOWS - The Corporation utilizes the net reporting of cash receipts and cash payments for certain deposit and lending activities. Cash equivalents include federal funds sold and all cash and amounts due from depository institutions and interest-bearing deposits in other banks with original maturities of three TRUST ASSETS AND INCOME - Assets held by the Corporation in a fiduciary or agency capacity for its customers are not not not |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 2 . RECENT ACCOUNTING PRONOUNCEMENTS The Financial Accounting Standards Board (“FASB”) issues Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). This section provides a summary description of recent ASUs that have significant implications (elected or required) within the consolidated financial statements, or that management expects may In May 2014, 2014 09, five should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Several additional ASUs have been issued subsequent to ASU 2014 09 first 2018 December 31, 2018. 70% 2014 09. 2014 09 no first 2018. In January 2016, 2016 01, 1 may not 2 3 4 5 December 31, 2017 2016, no 6 7 first 2018. not 2016 01 no first 2018. In February 2016, 2016 02, 842 842 12 not 842 not 842 ’s leasing activities. In transition, Topic 842 842 first 2019. In March 2016, No. 2016 07, – Equity Method and Joint Ventures. This ASU eliminates the requirement that when an investment qualifies for the equity method as a result of an increase in the level of ownership interest or influence, an investor must adjust the investment, results of operations and retained earnings retroactively as if the equity method had been in effect during all previous periods the investment had been held. The ASU requires the equity method investor to add the cost of acquiring an additional interest in the investee to the basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for the equity method. The ASU further requires that an entity that has an available-for-sale equity security that becomes qualified for the equity method recognize through earnings the unrealized gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The amendments in this Update were effective for the Corporation for annual and interim periods beginning in the first 2017. 2017 not In March 2016, No. 2016 09, – Stock Compensation. This ASU changes several aspects of accounting for share-based payment transactions, and includes some changes that apply only to nonpublic companies. This Update includes amendments that currently apply, or may 1 2 3 4 5 first 2017. 2017 not In June 2016, 2016 13, 326 ’s accounting for credit losses related to loans receivable and investment securities. A summary of significant provisions of this ASU is as follows: ● The ASU requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented, net of a valuation allowance for credit losses, at an amount expected to be collected on the financial asset(s), and that the income statement include the measurement of credit losses for newly recognized financial assets as well as changes in expected losses on previously recognized financial assets. The provisions of this ASU require measurement of expected credit losses based on relevant information including past events, historical experience, current conditions, and reasonable and supportive forecasts that affect the collectability of the asset. The provisions of this ASU differ from current U.S. GAAP in that current U.S. GAAP generally delays recognition of the full amount of credit losses until the loss is probable of occurring. ● The amendments in the Update retain many of the disclosure requirements related to credit quality in current U.S. GAAP, updated to reflect the change from an incurred loss methodology to an expected credit loss methodology. ● In addition, the Update requires that disclosure of credit quality indicators in relation to the amortized cost of financing receivables, a current requirement, be further disaggregated by year of origination. ● This ASU requires that credit losses on available-for-sale debt securities be presented as an allowance rather than as a write-down, and limits the amount of the allowance for credit losses to the amount by which the fair value is below amortized cost. For purchased available-for-sale securities with a more-than-insignificant amount of credit deterioration since origination, the ASU requires an allowance be determined in a manner similar to other available-for-sale debt securities; however, the initial allowance would be added to the purchase price, with only subsequent changes in the allowance recorded in credit loss expense, and interest income recognized at the effective rate excluding the discount embedded in the purchase price related to estimated credit losses at acquisition. ● This ASU will be effective for the Corporation for interim and annual periods beginning in the first 2020. first 2019. 326 The Corporation is in the early stages of evaluating the potential impact of adopting this amendment. In June 2016, 2016 15, 230 – Classification of Certain Cash Receipts and Cash Payments. This Update provides clarification regarding eight first 2018. no In January 2017, 2017 04, – Goodwill and Other (Topic 350 2 not may first 2020. In March 2017, 2017 08, – Nonrefundable Fees and Other Costs (Subtopic 310 20 2018 not |
Note 3 - Comprehensive Income
Note 3 - Comprehensive Income | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 3. Comprehensive income is the total of ( 1 2 (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2017 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (691 ) $ 242 $ (449 ) Reclassification adjustment for (gains) realized in income (257 ) 89 (168 ) Other comprehensive loss on available-for-sale securities (948 ) 331 (617 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 36 (12 ) 24 Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost (24 ) 8 (16 ) Other comprehensive income on unfunded retirement obligations 12 (4 ) 8 Total other comprehensive loss $ (936 ) $ 327 $ (609 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2016 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (4,138 ) $ 1,448 $ (2,690 ) Reclassification adjustment for (gains) realized in income (1,158 ) 406 (752 ) Other comprehensive loss on available-for-sale securities (5,296 ) 1,854 (3,442 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 46 (16 ) 30 Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost (22 ) 8 (14 ) Other comprehensive income on unfunded retirement obligations 24 (8 ) 16 Total other comprehensive loss $ (5,272 ) $ 1,846 $ (3,426 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2015 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (1,429 ) $ 500 $ (929 ) Reclassification adjustment for (gains) realized in income (2,861 ) 1,002 (1,859 ) Other comprehensive loss on available-for-sale securities (4,290 ) 1,502 (2,788 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive loss (135 ) 47 (88 ) Amortization of net transition obligation, prior service cost , net and loss on settlement included in 67 (23 ) 44 Other comprehensive loss on unfunded retirement obligations (68 ) 24 (44 ) Total other comprehensive loss $ (4,358 ) $ 1,526 $ (2,832 ) Changes in t he components of accumulated other comprehensive (loss) income, included in stockholders’ equity, are as follows: (In Thousands) Unrealized Accumulated Holding (Losses) Unfunded Other Gains on Retirement Comprehensive Securities Obligations (Loss) Income 2017 Balance, beginning of period $ (949 ) $ 51 $ (898 ) Change during year ended December 31, 2017 (617 ) 8 (609 ) Balance, end of period $ (1,566 ) $ 59 $ (1,507 ) 2016 Balance, beginning of period $ 2,493 $ 35 $ 2,528 Change during year ended December 31, 2016 (3,442 ) 16 (3,426 ) Balance, end of period $ (949 ) $ 51 $ (898 ) 2015 Balance, beginning of period $ 5,281 $ 79 $ 5,360 Change during year ended December 31, 2015 (2,788 ) (44 ) (2,832 ) Balance, end of period $ 2,493 $ 35 $ 2,528 Items reclassified out of each component of accumulated other comprehensive (loss) income are as follows: For the Year Ended December 31, 2017 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Loss Components Comprehensive Loss Statements of Income Unrealized gains and losses on available-for-sale securities $ (257 ) Realized gains on available-for-sale securities, net 89 Income tax provision (168 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 7 Pensions and other employee benefits (24 ) Total before tax 8 Income tax provision (16 ) Net of tax Total reclassifications for the period $ (184 ) For the Year Ended December 31, 2016 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $ (1,158 ) Realized gains on available-for-sale securities, net 406 Income tax provision (752 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 9 Pensions and other employee benefits (22 ) Total before tax 8 Income tax provision (14 ) Net of tax Total reclassifications for the period $ (766 ) For the Year Ended December 31, 2015 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $ (2,861 ) Realized gains on available-for-sale securities, net 1,002 Income tax provision (1,859 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 11 Pensions and other employee benefits Loss on settlement 87 Pensions and other employee benefits 67 Total before tax (23 ) Income tax provision 44 Net of tax Total reclassifications for the period $ (1,815 ) |
Note 4 - Per Share Data
Note 4 - Per Share Data | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4 . PER SHARE DATA Basic earnings per common share are calculated using the two two Diluted earnings per common share are calculated under the more dilutive of either the treasury method or the two Years Ended Dec. 31, Dec. 31, Dec. 31, 2017 2016 2015 Basic Net income $ 13,434,000 $ 15,762,000 $ 16,471,000 Less: Dividends and undistributed earnings allocated to participating securities (69,000 ) (85,000 ) (84,000 ) Net income attributable to common shares $ 13,365,000 $ 15,677,000 $ 16,387,000 Basic weighted-average common shares outstanding 12,115,840 12,032,820 12,149,252 Basic earnings per common share (a) $ 1.10 $ 1.30 $ 1.35 Diluted Net income attributable to common shares $ 13,365,000 $ 15,677,000 $ 16,387,000 Basic weighted-average common shares outstanding 12,115,840 12,032,820 12,149,252 Dilutive effect of potential common stock arising from stock options 39,296 30,235 21,832 Diluted weighted-average common shares outstanding 12,155,136 12,063,055 12,171,084 Diluted earnings per common share (a) $ 1.10 $ 1.30 $ 1.35 (a) Basic and diluted earnings per share under the two The weighted-average number of nonvested restricted shares outstanding was 62, 329 2017, 65,309 2016 62,689 2015. Stock options that were anti-dilutive were excluded from net income per share calculations. There were no 2017. 31,153 2016 61,590 2015. |
Note 5 - Cash and Due From Bank
Note 5 - Cash and Due From Banks | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 5. Cash and due from banks at December 31, 2017 2016 (In thousands) Dec. 31, Dec. 31, 2017 2016 Cash and cash equivalents $ 37,004 $ 28,621 Certificates of deposit 3,240 3,488 Total cash and due from banks $ 40,244 $ 32,109 Certificates of deposit are issues by U.S. banks with original maturities greater than three The Corporation is required to maintain reserves against deposit liabilities in the form of cash and balances with the Federal Reserve Bank. The reserves are based on deposit levels, account activity, and other services provided by the Federal Reserve Bank. Required reserves were $ 17,178,000 December 31, 2017 $16,654,000 December 31, 2016. |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 6. FAIR VALUE MEASUREMENTS AND FAIR VALUES OF FINANCIAL INSTRUMENTS The Corporation measures certain assets at fair value. Fair value is defined as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. FASB ASC topic 820, three Level 1 – Fair value is based on unadjusted quoted prices in active markets that are accessible to the Corporation for identical assets. These generally provide the most reliable evidence and are used to measure fair value whenever available. Level 2 – Fair value is based on significant inputs, other than Level 1 2 not Level 3 – Fair value is based on significant unobservable inputs. Examples of valuation methodologies that would result in Level 3 The Corporation monitors and evaluates available data relating to fair value measurements on an ongoing basis and recognizes transfers among the levels of the fair value hierarchy as of the date of an event or change in circumstances that affects the valuation method chosen. Examples of such changes may At December 31, 201 7 2016, December 31, 2017 Quoted Prices Other in Active Observable Unobservable Total Markets Inputs Inputs Fair (In Thousands) (Level 1) (Level 2) (Level 3) Value Recurring fair value measurements AVAILABLE-FOR-SALE SECURITIES: Obligations of U.S. Government agencies $ 0 $ 7,873 $ 0 $ 7,873 Obligations of states and political subdivisions: Tax-exempt 0 105,111 0 105,111 Taxable 0 25,573 0 25,573 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 0 52,347 0 52,347 Residential collateralized mortgage obligations 0 131,814 0 131,814 Commercial mortgage-backed securities 0 33,219 0 33,219 Total debt securities 0 355,937 0 355,937 Marketable equity securities 971 0 0 971 Total available-for-sale securities 971 355,937 0 356,908 Servicing rights 0 0 1,299 1,299 Total recurring fair value measurements $ 971 $ 355,937 $ 1,299 $ 358,207 Nonrecurring fair value measurements Impaired loans with a valuation allowance $ 0 $ 0 $ 3,776 $ 3,776 Valuation allowance 0 0 (1,183 ) (1,183 ) Impaired loans, net 0 0 2,593 2,593 Foreclosed assets held for sale 0 0 1,598 1,598 Total nonrecurring fair value measurements $ 0 $ 0 $ 4,191 $ 4,191 December 31, 2016 Quoted Prices Other in Active Observable Unobservable Total Markets Inputs Inputs Fair (In Thousands) (Level 1) (Level 2) (Level 3) Value Recurring fair value measurements AVAILABLE-FOR-SALE SECURITIES: Obligations of U.S. Government agencies $ 0 $ 9,541 $ 0 $ 9,541 Obligations of states and political subdivisions: Tax-exempt 0 119,037 0 119,037 Taxable 0 30,297 0 30,297 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 0 58,404 0 58,404 Residential collateralized mortgage obligations 0 146,608 0 146,608 Commercial mortgage-backed securities 0 30,219 0 30,219 Total debt securities 0 394,106 0 394,106 Marketable equity securities 971 0 0 971 Total available-for-sale securities 971 394,106 0 395,077 Servicing rights 0 0 1,262 1,262 Total recurring fair value measurements $ 971 $ 394,106 $ 1,262 $ 396,339 Nonrecurring fair value measurements Impaired loans with a valuation allowance $ 0 $ 0 $ 3,372 $ 3,372 Valuation allowance 0 0 (674 ) (674 ) Impaired loans, net 0 0 2,698 2,698 Foreclosed assets held for sale 0 0 2,180 2,180 Total nonrecurring fair value measurements $ 0 $ 0 $ 4,878 $ 4,878 Management ’s evaluation and selection of valuation techniques and the unobservable inputs used in determining the fair values of assets valued using Level 3 December 31, 2017 2016 3 Fair Value at 12/31/1 7 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/1 7 Servicing rights $ 1,299 Discounted cash flow Discount rate 13.00 % Rate used through modeling period Loan prepayment speeds 140.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $ 1.94 Miscellaneous fees per account per month Servicing costs $ 6.00 Monthly servicing cost per account $ 24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs Fair Value at 12/31/1 6 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/1 6 Servicing rights $ 1,262 Discounted cash flow Discount rate 13.00 % Rate used through modeling period Loan prepayment speeds 138.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $ 1.94 Miscellaneous fees per account per month Servicing costs $ 6.00 Monthly servicing cost per account $ 24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs The fair value of servicing rights is affected by expected future interest rates. Increases (decreases) in future expected interest rates tend to increase (decrease) the fair value of the Corporation ’s servicing rights because of changes in expected prepayment behavior by the borrowers on the underlying loans. Following is a reconciliation of activity for Level 3 (servicing rights) measured at fair value on a recurring basis: (In Thousands) Years Ended December 31, 2017 2016 2015 Balance, beginning of period $ 1,262 $ 1,296 $ 1,281 Issuances of servicing rights 205 248 177 Unrealized losses included in earnings (168 ) (282 ) (162 ) Balance, end of period $ 1,299 $ 1,262 $ 1,296 Loans are classified as 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. Foreclosed assets held for sale consist of real estate acquired by foreclosure. For impaired commercial loans secured by real estate and foreclosed assets held for sale, estimated fair values are determined primarily using values from third At December 31, 201 7 2016, 3 (In Thousands, Except Weighted- Percentages) Valuation Average Balance at Allowance at Fair Value at Valuation Unobservable Discount at Asset 12/31/17 12/31/17 12/31/17 Technique Inputs 12/31/17 Impaired loans: Residential mortgage loans - first liens $ 515 $ 122 $ 393 Sales comparison Discount to appraised value 26 % Commercial: Commercial loans secured by real estate 2,641 919 1,722 Sales comparison Discount to appraised value 16 % Commercial and industrial 126 92 34 Sales comparison Discount to appraised value 72 % Loans secured by farmland 494 50 444 Sales comparison Discount to appraised value 53 % Total impaired loans $ 3,776 $ 1,183 $ 2,593 Foreclosed assets held for sale - real estate: Residential (1-4 family) $ 721 $ 0 $ 721 Sales comparison Discount to appraised value 37 % Land 632 0 632 Sales comparison Discount to appraised value 35 % Commercial real estate 245 0 245 Sales comparison Discount to appraised value 71 % Total foreclosed assets held for sale $ 1,598 $ 0 $ 1,598 (In Thousands, Except Weighted- Percentages) Valuation Average Balance at Allowance at Fair Value at Valuation Unobservable Discount at Asset 12/31/16 12/31/16 12/31/16 Technique Inputs 12/31/1 6 Impaired loans: Commercial: Commercial loans secured by real estate $ 2,773 $ 528 $ 2,245 Sales comparison Discount to appraised value 7 % Commercial and industrial 95 95 0 Sales comparison Discount to appraised value 100 % Loans secured by farmland 504 51 453 Sales comparison Discount to appraised value 55 % Total impaired loans $ 3,372 $ 674 $ 2,698 Foreclosed assets held for sale - real estate: Residential (1-4 family) $ 1,102 $ 0 $ 1,102 Sales comparison Discount to appraised value 35 % Land 650 0 650 Sales comparison Discount to appraised value 33 % Commercial real estate 428 0 428 Sales comparison Discount to appraised value 50 % Total foreclosed assets held for sale $ 2,180 $ 0 $ 2,180 Certain of the Corporation ’s financial instruments are not not may not may not The Corporation used the following methods and assumptions in estimating fair value disclosures for financial instruments: CASH AND CASH EQUIVALENTS - The carrying amounts of cash and short-term instruments approximate fair values. CERTIFICATES OF DEPOSIT - Fair values for certificates of deposit, included in cash and due from banks in the consolidated balance sheets, are based on quoted market prices for certificates of similar remaining maturities. SECURITIES - Fair values for securities, excluding restricted equity securities, are based on quoted market prices or other methods as described above. The carrying value of restricted equity securities approximates fair value based on applicable redemption provisions. LOANS HELD FOR SALE - Fair values of loans held for sale are determined based on applicable sale prices available under the Federal Home Loan Banks’ MPF Original or Xtra program. LOANS - Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as commercial, commercial real estate, residential mortgage and other consumer. Each loan category is further segmented into fixed-rate and adjustable-rate interest terms and by performing and nonperforming categories. The fair value of performing loans is calculated by discounting contractual cash flows, adjusted for estimated prepayments based on historical experience, using estimated market discount rates that reflect the credit and interest rate risk inherent in the loans. Fair value of nonperforming loans is based on recent appraisals or estimates prepared by the Corporation’s lending officers. SERVICING RIGHTS - The fair value of servicing rights, included in other assets in the consolidated balance sheet, is determined through a discounted cash flow valuation. Significant inputs include expected net servicing income, the discount rate and the expected prepayment speeds of the underlying loans. DEPOSITS - The fair value of deposits with no December 31, 2017 2016. not BORROWED FUNDS - The fair value of borrowings is estimated using discounted cash flow analyses based on rates currently available to the Corporation for similar types of borrowing arrangements. ACCRUED INTEREST - The carrying amounts of accrued interest receivable and payable approximate fair values. OFF-BALANCE SHEET COMMITMENTS - The Corporation has commitments to extend credit and has issued standby letters of credit. Standby letters of credit are conditional guarantees of performance by a customer to a third not The estimated fair values, and related carrying amounts, of the Corporation ’s financial instruments are as follows: (In Thousands) Valuation December 31, 201 7 December 31, 201 6 Method(s) Carrying Fair Carrying Fair Used Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $ 37,004 $ 37,004 $ 28,621 $ 28,621 Certificates of deposit Level 2 3,240 3,234 3,488 3,481 Available-for-sale securities See Above 356,908 356,908 395,077 395,077 Restricted equity securities (included in Other Assets) Level 2 6,556 6,556 4,426 4,426 Loans held for sale Level 2 765 765 142 142 Loans, net Level 3 806,857 789,891 743,362 725,787 Accrued interest receivable Level 2 4,048 4,048 3,963 3,963 Servicing rights Level 3 1,299 1,299 1,262 1,262 Financial liabilities: Deposits with no stated maturity Level 2 794,778 794,778 771,625 771,625 Time deposits Level 2 213,671 213,734 212,218 212,274 Short-term borrowings Level 2 61,766 61,643 26,175 26,024 Long-term borrowings Level 2 9,189 9,256 38,454 39,062 Accrued interest payable Level 2 46 46 65 65 |
Note 7 - Securities
Note 7 - Securities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. Amortized cost and fair value of available-for-sale securities at December 31, 2017 2016 December 31, 2017 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $ 8,026 $ 0 $ (153 ) $ 7,873 Obligations of states and political subdivisions: Tax-exempt 103,673 2,291 (853 ) 105,111 Taxable 25,431 226 (84 ) 25,573 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 52,992 79 (724 ) 52,347 Residential collateralized mortgage obligations 134,314 110 (2,610 ) 131,814 Commercial mortgage-backed securities 33,881 4 (666 ) 33,219 Total debt securities 358,317 2,710 (5,090 ) 355,937 Marketable equity securities 1,000 0 (29 ) 971 Total $ 359,317 $ 2,710 $ (5,119 ) $ 356,908 December 31, 2016 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $ 9,671 $ 5 $ (135 ) $ 9,541 Obligations of states and political subdivisions: Tax-exempt 118,140 2,592 (1,695 ) 119,037 Taxable 30,073 303 (79 ) 30,297 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 58,922 306 (824 ) 58,404 Residential collateralized mortgage obligations 147,915 408 (1,715 ) 146,608 Commercial mortgage-backed securities 30,817 0 (598 ) 30,219 Total debt securities 395,538 3,614 (5,046 ) 394,106 Marketable equity securities 1,000 0 (29 ) 971 Total $ 396,538 $ 3,614 $ (5,075 ) $ 395,077 The following table presents gross unrealized losses and fair value of available-for-sale securities with unrealized loss positions that are not December 31, 2017 2016: December 31, 2017 Less Than 12 Months 12 Months or More Total (In Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of U.S. Government agencies $ 0 $ 0 $ 7,873 $ (153 ) $ 7,873 $ (153 ) Obligations of states and political subdivisions: Tax-exempt 19,050 (135 ) 24,391 (718 ) 43,441 (853 ) Taxable 9,279 (45 ) 2,116 (39 ) 11,395 (84 ) Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 25,255 (242 ) 22,549 (482 ) 47,804 (724 ) Residential collateralized mortgage obligations 50,812 (589 ) 68,558 (2,021 ) 119,370 (2,610 ) Commercial mortgage-backed securities 14,713 (173 ) 14,569 (493 ) 29,282 (666 ) Total debt securities 119,109 (1,184 ) 140,056 (3,906 ) 259,165 (5,090 ) Marketable equity securities 0 0 971 (29 ) 971 (29 ) Total temporarily impaired available-for-sale securities $ 119,109 $ (1,184 ) $ 141,027 $ (3,935 ) $ 260,136 $ (5,119 ) December 31, 2016 Less Than 12 Months 12 Months or More Total (In Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of U.S. Government agencies $ 7,899 $ (135 ) $ 0 $ 0 $ 7,899 $ (135 ) Obligations of states and political subdivisions: Tax-exempt 54,479 (1,676 ) 1,278 (19 ) 55,757 (1,695 ) Taxable 9,594 (79 ) 0 0 9,594 (79 ) Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 48,674 (824 ) 0 0 48,674 (824 ) Residential collateralized mortgage obligations 85,198 (1,124 ) 16,073 (591 ) 101,271 (1,715 ) Commercial mortgage-backed securities 30,219 (598 ) 0 0 30,219 (598 ) Total debt securities 236,063 (4,436 ) 17,351 (610 ) 253,414 (5,046 ) Marketable equity securities 1,000 (29 ) 0 0 1,000 (29 ) Total temporarily impaired available-for-sale securities $ 237,063 $ (4,465 ) $ 17,351 $ (610 ) $ 254,414 $ (5,075 ) Gross realized gains and losses from available-for-sale securities and the related income tax provision were as follows: (In Thousands) 2017 2016 2015 Gross realized gains from sales $ 315 $ 1,392 $ 2,972 Gross realized losses from sales (58 ) (234 ) (111 ) Net realized gains $ 257 $ 1,158 $ 2,861 Income tax provision related to net realized gains $ 89 $ 406 $ 1,002 The amortized cost and fair value of available-for-sale debt securities by contractual maturity are shown in the following table as of December 31, 2017. may may December 31, 2017 Amortized Fair (In Thousands) Cost Value Due in one year or less $ 11,350 $ 11,347 Due from one year through five years 69,274 70,016 Due from five years through ten years 37,086 37,089 Due after ten years 19,420 20,105 Sub -total 137,130 138,557 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 52,992 52,347 Residential collateralized mortgage obligations 134,314 131,814 Commercial mortgage-backed securities 33,881 33,219 Total $ 358,317 $ 355,937 The Corporation ’s mortgage-backed securities and collateralized mortgage obligations have stated maturities that may one Investment securities carried at $ 217,925,000 December 31, 2017 $230,803,000 December 31, 2016 12 Management evaluates securities for OTTI at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to ( 1 2 3 not The Corporation recognized no December 31, 2017, 2016 2015. A summary of information management considered in evaluating debt and equity securities for OTTI at December 31, 201 7 2016 Debt Securities At December 31, 201 7 2016, December 31, 2017 2016 Equity Securities The Corporation ’s marketable equity securities at December 31, 2017 2016 one no 2017, 2016 2015. December 31, 2017, $29,000 not There were no 2017. Realized gains from sales of equity securities (bank stocks) totaled $1,125,000 2016 $2,220,000 2015. C&N Bank is a member of the Federal Home Loan Bank of Pittsburgh (FHLB-Pittsburgh), which is one 1 1 no $6,426,000 December 31, 2017 $4,296,000 December 31, 2016. not December 31, 2017 December 31, 2016. |
Note 8 - Loans
Note 8 - Loans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Loans outstanding at December 31, 2017 2016 Summary of Loans by Type (In Thousands) Dec. 31, Dec. 31, 2017 2016 Residential mortgage: Residential mortgage loans - first liens $ 359,987 $ 334,102 Residential mortgage loans - junior liens 25,325 23,706 Home equity lines of credit 35,758 38,057 1-4 Family residential construction 26,216 24,908 Total residential mortgage 447,286 420,773 Commercial: Commercial loans secured by real estate 159,266 150,468 Commercial and industrial 88,276 83,854 Political subdivisions 59,287 38,068 Commercial construction and land 14,527 14,287 Loans secured by farmland 7,255 7,294 Multi-family (5 or more) residential 7,713 7,896 Agricultural loans 6,178 3,998 Other commercial loans 10,986 11,475 Total commercial 353,488 317,340 Consumer 14,939 13,722 Total 815,713 751,835 Less: allowance for loan losses (8,856 ) (8,473 ) Loans, net $ 806,857 $ 743,362 The Corporation grants loans to individuals as well as commercial and tax-exempt entities . Commercial, residential and personal loans are made to customers geographically concentrated in the Pennsylvania and New York counties that make up the market serviced by Citizens & Northern Bank. Although the Corporation has a diversified loan portfolio, a significant portion of its debtors’ ability to honor their contracts is dependent on the local economic conditions within the region. There is no 10% December 31, 2017. Transactions within the allowance for loan losses, summarized by segment and class, were as follows: Year Ended December 31, 2017 Dec. 31, Dec. 31, (In Thousands) 2016 Balance Charge-offs Recoveries Provision (Credit) 2017 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 3,033 $ (167 ) $ 15 $ 319 $ 3,200 Residential mortgage loans - junior liens 258 (16 ) 4 (22 ) 224 Home equity lines of credit 350 (14 ) 0 (40 ) 296 1-4 Family residential construction 249 0 0 (6 ) 243 Total residential mortgage 3,890 (197 ) 19 251 3,963 Commercial: Commercial loans secured by real estate 2,380 (96 ) 0 300 2,584 Commercial and industrial 999 (36 ) 4 98 1,065 Commercial construction and land 162 0 0 (12 ) 150 Loans secured by farmland 110 0 0 (5 ) 105 Multi-family (5 or more) residential 241 0 0 (69 ) 172 Agricultural loans 40 0 0 17 57 Other commercial loans 115 0 0 (13 ) 102 Total commercial 4,047 (132 ) 4 316 4,235 Consumer 138 (150 ) 38 133 159 Unallocated 398 0 0 101 499 Total Allowance for Loan Losses $ 8,473 $ (479 ) $ 61 $ 801 $ 8,856 Year Ended December 31, 2016 Dec. 31 Dec. 31 (In Thousands) 2015 Balance Charge-offs Recoveries Provision (Credit) 2016 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,645 $ (73 ) $ 3 $ 458 $ 3,033 Residential mortgage loans - junior liens 219 0 0 39 258 Home equity lines of credit 347 0 0 3 350 1-4 Family residential construction 207 0 0 42 249 Total residential mortgage 3,418 (73 ) 3 542 3,890 Commercial: Commercial loans secured by real estate 1,939 0 2 439 2,380 Commercial and industrial 981 (2 ) 3 17 999 Political subdivisions 0 0 0 0 0 Commercial construction and land 58 0 30 74 162 Loans secured by farmland 106 0 0 4 110 Multi-family (5 or more) residential 675 (595 ) 0 161 241 Agricultural loans 45 0 0 (5 ) 40 Other commercial loans 118 0 0 (3 ) 115 Total commercial 3,922 (597 ) 35 687 4,047 Consumer 122 (87 ) 82 21 138 Unallocated 427 0 0 (29 ) 398 Total Allowance for Loan Losses $ 7,889 $ (757 ) $ 120 $ 1,221 $ 8,473 Year Ended December 31, 2015 Dec. 31, Dec. 31, (In Thousands) 2014 Balance Charge-offs Recoveries Provision (Credit) 2015 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,941 $ (175 ) $ 1 $ (122 ) $ 2,645 Residential mortgage loans - junior liens 176 (42 ) 0 85 219 Home equity lines of credit 322 0 0 25 347 1-4 Family residential construction 214 0 0 (7 ) 207 Total residential mortgage 3,653 (217 ) 1 (19 ) 3,418 Commercial: Commercial loans secured by real estate 1,758 (115 ) 208 88 1,939 Commercial and industrial 688 (21 ) 6 308 981 Political subdivisions 0 0 0 0 0 Commercial construction and land 283 (115 ) 0 (110 ) 58 Loans secured by farmland 165 0 0 (59 ) 106 Multi-family (5 or more) residential 87 0 0 588 675 Agricultural loans 31 0 0 14 45 Other commercial loans 131 0 0 (13 ) 118 Total commercial 3,143 (251 ) 214 816 3,922 Consumer 145 (94 ) 55 16 122 Unallocated 395 0 0 32 427 Total Allowance for Loan Losses $ 7,336 $ (562 ) $ 270 $ 845 $ 7,889 In the evaluation of the loan portfolio, management determines two – ( 1 2 In determining the larger loan relationships for detailed assessment under the specific allowance component, the Corporation uses an internal risk rating system . Under the risk rating system, the Corporation classifies problem or potential problem loans as “Special Mention,” “Substandard,” or “Doubtful” on the basis of currently existing facts, conditions and values. Substandard loans include those characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not not not The following table s summarize the aggregate credit quality classification of outstanding loans by risk rating as of December 31, 2017 2016: December 31, 2017 (In Thousands) Special Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $ 350,609 $ 307 $ 9,019 $ 52 $ 359,987 Residential mortgage loans - junior liens 24,795 104 426 0 25,325 Home equity lines of credit 35,233 61 464 0 35,758 1-4 Family residential construction 26,216 0 0 0 26,216 Total residential mortgage 436,853 472 9,909 52 447,286 Commercial: Commercial loans secured by real estate 150,806 936 7,524 0 159,266 Commercial and Industrial 82,724 3,896 1,645 11 88,276 Political subdivisions 59,287 0 0 0 59,287 Commercial construction and land 14,449 0 78 0 14,527 Loans secured by farmland 5,283 581 1,379 12 7,255 Multi-family (5 or more) residential 7,130 0 583 0 7,713 Agricultural loans 5,203 270 705 0 6,178 Other commercial loans 10,913 0 73 0 10,986 Total commercial 335,795 5,683 11,987 23 353,488 Consumer 14,853 0 86 0 14,939 Totals $ 787,501 $ 6,155 $ 21,982 $ 75 $ 815,713 December 31, 2016 (In Thousands) Special Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $ 324,377 $ 408 $ 9,258 $ 59 $ 334,102 Residential mortgage loans - junior liens 23,274 132 300 0 23,706 Home equity lines of credit 37,360 123 574 0 38,057 1-4 Family residential construction 24,820 0 88 0 24,908 Total residential mortgage 409,831 663 10,220 59 420,773 Commercial: Commercial loans secured by real estate 139,358 3,092 8,018 0 150,468 Commercial and Industrial 79,202 4,180 461 11 83,854 Political subdivisions 38,068 0 0 0 38,068 Commercial construction and land 14,136 70 81 0 14,287 Loans secured by farmland 5,745 129 1,404 16 7,294 Multi-family (5 or more) residential 7,277 0 619 0 7,896 Agricultural loans 3,208 0 790 0 3,998 Other commercial loans 11,401 0 74 0 11,475 Total commercial 298,395 7,471 11,447 27 317,340 Consumer 13,546 0 176 0 13,722 Totals $ 721,772 $ 8,134 $ 21,843 $ 86 $ 751,835 The scope of loans reviewed individually each quarter to determine if they are impaired include all commercial loan relationships greater than $200,000 one fourth 2017, $400,000 not not not December 31, 2017 2016. $200,000 $400,000 $100,000 The following table s present a summary of loan balances and the related allowance for loan losses summarized by portfolio segment and class for each impairment method used as of December 31, 2017 2016: December 31, 2017 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $ 984 $ 359,003 $ 359,987 $ 0 $ 3,200 $ 3,200 Residential mortgage loans - junior liens 302 25,023 25,325 122 102 224 Home equity lines of credit 0 35,758 35,758 0 296 296 1-4 Family residential construction 0 26,216 26,216 0 243 243 Total residential mortgage 1,286 446,000 447,286 122 3,841 3,963 Commercial: Commercial loans secured by real estate 5,873 153,393 159,266 919 1,665 2,584 Commercial and industrial 568 87,708 88,276 188 877 1,065 Political subdivisions 0 59,287 59,287 0 0 0 Commercial construction and land 0 14,527 14,527 0 150 150 Loans secured by farmland 1,365 5,890 7,255 50 55 105 Multi-family (5 or more) residential 392 7,321 7,713 0 172 172 Agricultural loans 7 6,171 6,178 0 57 57 Other commercial loans 0 10,986 10,986 0 102 102 Total commercial 8,205 345,283 353,488 1,157 3,078 4,235 Consumer 20 14,919 14,939 0 159 159 Unallocated 499 Total $ 9,511 $ 806,202 $ 815,713 $ 1,279 $ 7,078 $ 8,856 December 31, 2016 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $ 753 $ 333,349 $ 334,102 $ 0 $ 3,033 $ 3,033 Residential mortgage loans - junior liens 68 23,638 23,706 0 258 258 Home equity lines of credit 0 38,057 38,057 0 350 350 1-4 Family residential construction 0 24,908 24,908 0 249 249 Total residential mortgage 821 419,952 420,773 0 3,890 3,890 Commercial: Commercial loans secured by real estate 8,005 142,463 150,468 528 1,852 2,380 Commercial and industrial 212 83,642 83,854 95 904 999 Political subdivisions 0 38,068 38,068 0 0 0 Commercial construction and land 0 14,287 14,287 0 162 162 Loans secured by farmland 1,394 5,900 7,294 51 59 110 Multi-family (5 or more) residential 392 7,504 7,896 0 241 241 Agricultural loans 13 3,985 3,998 0 40 40 Other commercial loans 0 11,475 11,475 0 115 115 Total commercial 10,016 307,324 317,340 674 3,373 4,047 Consumer 23 13,699 13,722 0 138 138 Unallocated 398 Total $ 10,860 $ 740,975 $ 751,835 $ 674 $ 7,401 $ 8,473 Summary information re lated to impaired loans as of December 31, 2017 2016 (In Thousands) December 31, 2017 December 31, 2016 Unpaid Unpaid Principal Recorded Related Principal Recorded Related Balance Investment Allowance Balance Investment Allowance With no related allowance recorded: Residential mortgage loans - first liens $ 740 $ 711 $ 0 $ 783 $ 753 $ 0 Residential mortgage loans - junior liens 60 60 0 68 68 0 Commercial loans secured by real estate 3,230 3,230 0 6,975 5,232 0 Commercial and industrial 119 119 0 117 117 0 Loans secured by farmland 871 871 0 890 890 0 Multi-family (5 or more) residential 987 392 0 987 392 0 Agricultural loans 8 8 0 13 13 0 Consumer 20 20 0 23 23 0 Total with no related allowance recorded 6,035 5,411 0 9,856 7,488 0 With a related allowance recorded: Residential mortgage loans - first liens 273 273 0 0 0 0 Residential mortgage loans - junior liens 242 242 122 0 0 0 Commercial loans secured by real estate 2,641 2,641 919 2,773 2,773 528 Commercial and industrial 449 449 188 95 95 95 Loans secured by farmland 495 495 50 504 504 51 Total with a related allowance recorded 4,100 4,100 1,279 3,372 3,372 674 Total $ 10,135 $ 9,511 $ 1,279 $ 13,228 $ 10,860 $ 674 In the table immediately above, two one – first one . The average balance of impaired loans and interest income recognized on impaired loans is as follows: Interest Income Recognized on Average Investment in Impaired Loans Impaired Loans on a Cash Basis (In Thousands) Year Ended December 31, Year Ended December 31, 2017 2016 2015 2017 2016 2015 Residential mortgage: Residential mortgage loans - first lien $ 857 $ 806 $ 2,206 $ 52 $ 43 $ 86 Residential mortgage loans - junior lien 112 71 64 15 3 4 Total residential mortgage 969 877 2,270 67 46 90 Commercial: Commercial loans secured by real estate 6,272 6,806 6,357 173 495 380 Commercial and industrial 301 547 438 24 20 20 Commercial construction and land 0 0 40 0 0 0 Loans secured by farmland 1,379 1,409 1,459 45 94 103 Multi-family (5 or more) residential 392 511 790 0 0 0 Agricultural loans 10 14 21 1 1 3 Total commercial 8,354 9,287 9,105 243 610 506 Consumer 26 21 0 1 1 0 Total $ 9,349 $ 10,185 $ 11,375 $ 311 $ 657 $ 596 T he breakdown by portfolio segment and class of nonaccrual loans and loans past due ninety (In Thousands) December 31, 2017 December 31, 2016 Past Due Past Due 90+ Days and 90+ Days and Accruing Nonaccrual Accruing Nonaccrual Residential mortgage: Residential mortgage loans - first liens $ 2,340 $ 5,131 $ 3,022 $ 3,770 Residential mortgage loans - junior liens 105 242 114 0 Home equity lines of credit 203 44 320 11 Total residential mortgage 2,648 5,417 3,456 3,781 Commercial: Commercial loans secured by real estate 175 5,645 2,774 3,080 Commercial and industrial 603 517 286 119 Commercial construction and land 26 52 0 0 Loans secured by farmland 271 1,308 219 1,331 Multi-family (5 or more) residential 0 392 0 392 Agricultural loans 0 7 0 13 Total commercial 1,075 7,921 3,279 4,935 Consumer 1 66 103 20 Totals $ 3,724 $ 13,404 $ 6,838 $ 8,736 The amounts shown in the table immediately above include loans classified as troubled debt restructuring s (described in more detail below), if such loans are considered past due ninety The tables below present a summary of the contractual aging of loans as of December 31, 2017 2016: As of December 31, 2017 As of December 31, 2016 Current & Current & (In Thousands) Past Due Past Due Past Due Past Due Past Due Past Due Less than 30-89 90+ Less than 30-89 90+ 30 Days Days Days Total 30 Days Days Days Total Residential mortgage: Residential mortgage loans - first liens $ 347,032 $ 7,967 $ 4,988 $ 359,987 $ 321,670 $ 6,695 $ 5,737 $ 334,102 Residential mortgage loans - junior liens 25,133 87 105 25,325 23,268 324 114 23,706 Home equity lines of credit 34,789 732 237 35,758 37,603 134 320 38,057 1-4 Family residential construction 25,667 549 0 26,216 24,567 341 0 24,908 Total residential mortgage 432,621 9,335 5,330 447,286 407,108 7,494 6,171 420,773 Commercial: Commercial loans secured by real estate 155,917 311 3,038 159,266 147,464 82 2,922 150,468 Commercial and industrial 87,306 303 667 88,276 83,364 185 305 83,854 Political subdivisions 59,287 0 0 59,287 38,068 0 0 38,068 Commercial construction and land 14,400 49 78 14,527 14,199 88 0 14,287 Loans secured by farmland 6,226 12 1,017 7,255 6,181 83 1,030 7,294 Multi-family (5 or more) residential 7,321 0 392 7,713 7,439 65 392 7,896 Agricultural loans 6,114 57 7 6,178 3,981 4 13 3,998 Other commercial loans 10,986 0 0 10,986 11,475 0 0 11,475 Total commercial 347,557 732 5,199 353,488 312,171 507 4,662 317,340 Consumer 14,760 123 56 14,939 13,446 153 123 13,722 Totals $ 794,938 $ 10,190 $ 10,585 $ 815,713 $ 732,725 $ 8,154 $ 10,956 $ 751,835 Nonaccrual loans are included in the contractual aging immediately above . A summary of the contractual aging of nonaccrual loans at December 31, 2017 2016 Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Total December 31, 2017 Nonaccrual Totals $ 5,802 $ 741 $ 6,861 $ 13,404 December 31, 2016 Nonaccrual Totals $ 4,199 $ 419 $ 4,118 $ 8,736 Loans whose terms are modified are classified as Troubled Debt Restructurings (TDRs) if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Loans classified as TDRs are designated as impaired and reviewed each quarter to determine if a specific allowance for loan losses is required. The outstanding balance of loans subject to TDRs, as well as the contractual aging information at December 31, 2017 2016 Troubled Debt Restructurings (TDRs): Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Nonaccrual Total December 31, 2017 Totals $ 636 $ 0 $ 0 $ 3,027 $ 3,663 December 31, 2016 Totals $ 5,453 $ 350 $ 0 $ 2,874 $ 8,677 At December 31, 2017 2016 , there were no There were no 2017 . A summary of TDRs that occurred during 2016 2015 (Balances in Thousands) 2016 2015 Post- Post- Number Modification Number Modification of Recorded of Recorded Loans Investment Loans Investment Residential mortgage - first liens: Extended maturity with interest rate reduction 1 $ 71 1 $ 56 Extended maturity with reduced monthly payments 1 26 0 0 Reduced monthly payments for a six-month period 0 0 1 242 Residential mortgage - junior liens, Interest rate and monthly payment reduction 0 0 1 32 Commercial loans secured by real estate, Interest only payments for a period of one year 1 2,773 0 0 Commercial and industrial, Extended maturity 1 5 0 0 Consumer: Interest rate and monthly payment reduction 0 0 1 30 New unsecured loan after short-fall from sale of property 1 24 0 0 Total 5 $ 2,899 4 $ 360 T here were no 2016 2015. For 2017 , there were no 12 2016 2015, 12 (Balances in Thousands) 2016 2015 Number Number of Recorded of Recorded Loans Investment Loans Investment Residential mortgage - first liens 2 $ 294 1 $ 32 Residential mortgage - junior liens 1 29 0 0 Commercial and industrial 1 5 0 0 Consumer 1 27 0 0 Total 5 $ 355 1 $ 32 The carrying amount of foreclosed residential real estate properties held as a result of obtaining physical possession (included in Foreclosed assets held for sale in the consolidated balance sheets) is as follows: (In Thousands) Dec. 31, Dec. 31, 2017 2016 Foreclosed residential real estate $ 721 $ 1,102 The recorded investment of consumer mortgage loans secured by residential real properties for which formal foreclosure proceedings were in process is as follows: (In Thousands) Dec. 31, Dec. 31, 2017 2016 Residential real estate in process of foreclosure $ 1,789 $ 2,738 |
Note 9 - Bank Premises and Equi
Note 9 - Bank Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9 . BANK PREMISES AND EQUIPMENT (In Thousands) December 31, 2017 2016 Land $ 2,818 $ 2,818 Buildings and improvements 28,285 27,619 Furniture and equipment 15,578 18,741 Construction in progress 268 392 Total 46,949 49,570 Less: accumulated depreciation (31,517 ) (34,173 ) Net $ 15,432 $ 15,397 Depreciation expense included in occupancy expense and furniture and equipment expense was as follows: (In Thousands) 2017 2016 2015 Occupancy expense $ 801 $ 804 $ 954 Furniture and equipment expense 838 785 934 Total $ 1,639 $ 1,589 $ 1,888 |
Note 10 - Intangible Assets
Note 10 - Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 10. There were no hanges in the carrying amount of goodwill in 2017 2016. $11,942,000 December 31, 2017 2016. not 2017 2016. In testing goodwill for impairment as of December 31, 201 7, not not not not two 350. no December 31, 2017. Information related to the core deposit intangibles is as follows: December 31, (In Thousands) 2017 2016 Gross amount $ 2,034 $ 2,034 Less: accumulated amortization (2,022 ) (2,017 ) Net $ 12 $ 17 Amortization expense was $5,000 2017, $13,000 2016 $22,000 2015. five not |
Note 11 - Deposits
Note 11 - Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 1 1 . DEPOSITS At December 31, 201 7, (In Thousands) 2018 $ 112,563 2019 57,097 2020 22,836 2021 7,975 2022 10,484 Thereafter 2,716 Total $ 213,671 Time deposits of more than $250,000 $12,653,000 December 31, 2017 $7,929,000 December 31, 2016. As of December 31, 2017, $250,000 (In Thousands) Three months or less $ 4,833 Over 3 months through 12 months 5,375 Over 1 year through 3 years 1,148 Over 3 years 1,297 Total $ 12,653 |
Note 12 - Borrowed Funds
Note 12 - Borrowed Funds | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 1 2 . BORROWED FUNDS Short-term borrowings (initial maturity within one (In Thousands) Dec. 31, Dec. 31, 2017 2016 FHLB-Pittsburgh borrowings $ 58,000 $ 21,000 Customer repurchase agreements 3,766 5,175 Total short-term borrowings $ 61,766 $ 26,175 Short-term borrowings from FHLB-Pittsburgh are as follows: (In Thousands) Dec. 31, Dec. 31 2017 2016 Overnight borrowing $ 29,000 $ 21,000 Other short-term advances 29,000 0 Total short-term FHLB-Pittsburgh borrowings $ 58,000 $ 21,000 The weighted average interest rate on total short-term borrowings outstanding was 1.52% December 31, 2017 0.61% December 31, 2016. $61,766,000 2017, $47,005,000 2016 $53,496,000 2015. The Corporation had available credit with other correspondent banks totaling $45,000,000 December 31, 2017 2016. No December 31, 2017 2016. The Corporation has a line of credit with the Federal Reserve Bank of Philadelphia ’s Discount Window. At December 31, 2017, $15,877,000 no December 31, 2016, $15,636,000 no $16,301,000 December 31, 2017 $17,690,000 December 31, 2016. The FHLB-Pittsburgh loan facilit y is collateralized by qualifying loans secured by real estate with a book value totaling $471,454,000 December 31, 2017 $471,454,000 December 31, 2016. $6,426,000 December 31, 2017 $4,296,000 December 31, 2016. $362,630,000 December 31, 2017, $295,441,000. December 31, 2016, $339,221,000, $306,767,000. O vernight borrowings from FHLB-Pittsburgh had an interest rate of 1.54% December 31, 2017 0.74% December 31, 2016. December 31, 2017, 9 $3,000,000 1 $2,000,000, January October 2018, 1.69% 1.23% 1.89%. The Corporation engages in repurchase agreements with certain commercial customers. These agreements provide that the Corporation sells specified investment securities to the customers on an overnight basis and repurchases them on the following business day. The weighted average rate paid by the Corporation on customer repurchase agreements was 0.10% r 31, 2017 December 31, 2016. $12,158,000 December 31, 2017 $15,019,000 December 31, 2016. LONG-TERM BORROWINGS Long-term borrowings (initial maturity of greater than one (In Thousands) Dec. 31, Dec. 31, 2017 2016 FHLB-Pittsburgh borrowings $ 9,189 $ 11,454 Repurchase agreements 0 27,000 Total long-term borrowings $ 9,189 $ 38,454 Long-term borrowings from FHLB - Pittsburgh are as follows: (In Thousands) Dec. 31, Dec. 31, 2017 2016 Loan matur ed in 2017 with a rate of 6.83% $ 0 $ 4 Loan matur ed in 2017 with a rate of 3.81% 0 10,000 Loan maturing in 2018 with a rate of 1.63% 3,000 0 Loan maturing in 2018 with a rate of 1.35% 3,000 0 Loan maturing in 2019 with a rate of 1.83% 2,000 0 Loan maturing in 2020 with a rate of 4.79% 463 646 Loan maturing in 2025 with a rate of 4.91% 726 804 Total long-term FHLB-Pittsburgh borrowings $ 9,189 $ 11,454 The repurchase agreement included in long-term borrowings had an interest rate of 3.595% December 2017. Securities sold under repurchase agreements were delivered to the broker-dealer who was the counter-party to the transactions. The broker-dealer may $0 December 31, 2017 $31,494,000 December 31, 2016, (In Thousands) Dec. 31, Dec. 31, 2017 2016 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities $ 0 $ 18,181 Residential collateralized mortgage obligations 0 13,313 Total $ 0 $ 31,494 Average daily repurchase agreement borrowings amounted to $ 26,112,000 2017, $27,000,000 2016 $54,304,000 2015. $27,000,000 2017 2016, $61,000,000 2015. 3.60% 2017 2016, 3.99% 2015. |
Note 13 - Employee and Postreti
Note 13 - Employee and Postretirement Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 1 3 . EMPLOYEE AND POSTRETIREMENT BENEFIT PLANS DEFINED BENEFIT PLANS The Corporation sponsors a defined benefit health care plan that provides postretirement medical benefits and life insurance to employees who meet certain age and length of service requir ements. Full-time employees no not December 31, 2017 December 31, 2016, not December 31 In an acquisition in 2007, December 31, 2002, December 31 The following table shows the funded status of the defined benefit plans: (In Thousands) Pension Postretirement 2017 2016 2017 2016 CHANGE IN BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 713 $ 722 $ 1,555 $ 1,539 Service cost 0 0 36 37 Interest cost 24 26 57 62 Plan participants' contributions 0 0 211 215 Actuarial loss (gain) 127 3 (103 ) (30 ) Benefits paid (14 ) (38 ) (259 ) (268 ) Benefit obligation at end of year $ 850 $ 713 $ 1,497 $ 1,555 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year $ 846 $ 839 $ 0 $ 0 Actual return on plan assets 91 45 0 0 Employer contribution 0 0 48 53 Plan participants' contributions 0 0 211 215 Benefits paid (14 ) (38 ) (259 ) (268 ) Fair value of plan assets at end of year $ 923 $ 846 $ 0 $ 0 Funded status at end of year $ 73 $ 133 $ (1,497 ) $ (1,555 ) At December 31, 20 17 2016, Assets and liabilities: (In Thousands) Pension Postretirement 2017 2016 2017 2016 Other assets $ 73 $ 133 Accrued interest and other liabilities $ 1,497 $ 1,555 At December 31, 20 17 2016, not Items not yet recognized as a component of net periodic benefit cost: (In Thousands) Pension Postretirement 2017 2016 2017 2016 Prior service cost $ 0 $ 0 $ (309 ) $ (340 ) Net actuarial loss (gain) 221 161 (2 ) 101 Total $ 221 $ 161 $ (311 ) $ (239 ) For the defined benefit pension plan, amortization of the net actu arial loss is expected to be $13,000 2018. 2018 $31,000, no 2018. The accumulated benefit obligation for the defined benefit pension plan was $850,000 December 31, 2017 $713,000 December 31, 2016. The components of net periodic benefit costs from defined benefit plans are as follows: (In Thousands) Pension Postretirement 2017 2016 2015 2017 2016 2015 Service cost $ 0 $ 0 $ 0 $ 36 $ 37 $ 38 Interest cost 24 26 36 57 62 57 Expected return on plan assets (31 ) (26 ) (45 ) 0 0 0 Amortization of prior service cost 0 0 0 (31 ) (31 ) (31 ) Recognized net actuarial loss 7 9 11 0 0 0 Loss on settlement 0 0 87 0 0 0 Total net periodic benefit cost $ 0 $ 9 $ 89 $ 62 $ 68 $ 64 In 2015, pension plan of $337,000, 32% $87,000 2015 The weighted-average assumptions used to determine net periodic benefit cost are as follows: Pension Postretirement 2017 2016 2015 2017 2016 2015 Discount rate 4.05 % 4.30 % 3.75 % 3.75 % 4.25 % 4.00 % Expected return on plan assets 6.00 % 5.00 % 5.31 % N/A N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A The weighted-average assumptions used to determine benefit obligations as of December 31, 20 17 2016 Pension Postretirement 2017 2016 2017 2016 Discount rate 3.55 % 4.05 % 3.75 % 4.25 % Rate of compensation increase N/A N/A N/A N/A Estimated future benefit payments, including only estimated employer contributions for the postretirement plan, which reflect expected future service, are as follows: (In Thousands) Pension Postretirement 2018 $ 312 $ 96 20 1 9 41 96 2020 13 104 2021 12 101 2022 14 105 2023-2027 226 516 No pension plan is required in 2018, may The expected return on pension plan assets is a significant assumption used in the calculation of net periodic benefit cost. This assumption reflects the average long-term rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation. The fair values of pension plan assets at December 31, 2017 2016 2017 2016 Mut ual funds invested principally in: Cash and cash equivalents 2 % 2 % Debt securities 37 % 38 % Equity securities 45 % 44 % Alternative funds 16 % 16 % Total 100 % 100 % C&N Bank ’s Trust and Financial Management Department manages the investment of the pension plan assets. The Plan’s securities include mutual funds invested principally in debt securities, a diversified mix of large, mid- and small-capitalization U.S. stocks, foreign stocks and alternative asset classes such as real estate, commodities, and inflation-protected securities. The fair values of plan assets are determined based on Level 1 6 December 31, 2017, 45% 37% 16% 2% December 31, 2016, 44% 38% 16% 2% not PROFIT SHARING AND DEFERRED COMPENSATION PLANS The Corporation has a profit sharing plan that incorporates the deferred salary savings provisions of Section 401 ’s matching contributions to the Plan depend upon the tax deferred contributions of employees. The Corporation’s total basic and matching contributions were $681,000 2017, $646,000 2016 $609,000 2015. The Corporation has an Employee Stock Ownership Plan (ESOP) . Contributions to the ESOP are discretionary, and the ESOP uses funds contributed to purchase Corporation stock for the accounts of ESOP participants. These purchases are made on the market ( not not 55 10 50% 6 December 31, 2017 2016, no Dividends paid on shares held by the ESOP are charged to retained earnings . All Corporation shares owned through the ESOP are included in the calculation of weighted-average shares outstanding for purposes of calculating earnings per share - basic and diluted. The ESOP held 419,067 December 31, 2017 417,753 December 31, 2016, $588,000 2017, $549,000 2016 $522,000 2015. The Corporation has a nonqualified supplemental deferred compensation arrangement with its key officers. Charges to operating expense for officers’ supplemental deferred compensation were $200,000 2017, $184,000 2016 $167,000 2015. In December 2015, ration established a nonqualified deferred compensation plan that allows selected officers, beginning in 2016, not STOCK-BASED COMPENSATION PLANS The Corporation has a Stock Incentive Plan for a selected group of senior officers. A total of 850,000 may . Awards may December 31, 2017, 6 10 270,179 December 31, 2017. Also, the Corporation has an Independent Directors Stock Incentive Plan. This plan permits awards of nonqualified stock options and/or restricted stock to non-employee directors. A total of 135,000 may ’ rights to exercise stock options under this plan expire 10 17,396 December 31, 2017. Total stock-based compensation expense is as follows: (In Thousands) 2017 2016 2015 Restricted stock $ 627 $ 578 $ 606 Stock options 0 0 0 Total $ 627 $ 578 $ 606 T he following summarizes non-vested restricted stock activity for the year ended December 31, 2017: Weighted Average Number Grant Date of Shares Fair Value Outstanding, December 31, 2016 63,362 $ 20.35 Granted 30,782 $ 25.97 Vested (28,981 ) $ 20.21 Forfeited (4,406 ) $ 21.74 Outstanding, December 31, 2017 60,757 $ 23.17 Compensation cost related to restricted stock is recognized based on the market price of the stock at the grant date over the vesting period , adjusted for estimated and actual forfeitures. As of December 31, 2017, $671,000 1.3 In 2017 2016, 2017 2016 Executive Officers 14,897 17,289 Other employees 7,415 10,304 Total 22,312 27,593 Restricted stock awards in 2017 2016 vest over a three no 2017 2016 three 2017 2016 50 th not 2017 2016 37 th 12 September 30, 2017 47 th 12 September 30, 2016. 2017 2016 $750 $3.5 Most of the restricted stock awards issued under this Plan prior to 2016, 2017 2016, 2017, 2016 2015, 12 September 30 one $750 $2 In 201 7, 8,470 one 2016, 7,834 one There were no 2017, 2016 2015. 2017 2016 2015 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Outstanding, beginning of year 202,037 $ 18.58 248,486 $ 18.59 316,157 $ 19.05 Granted 0 0 0 Exercised (24,976 ) $ 17.50 (35,880 ) $ 18.86 (29,557 ) $ 17.56 Forfeited (635 ) $ 19.88 (10,569 ) $ 18.03 (20,211 ) $ 19.76 Expired (10,766 ) $ 22.33 0 (17,903 ) $ 27.00 Outstanding, end of year 165,660 $ 18.49 202,037 $ 18.58 248,486 $ 18.59 Options exercisable at year-end 165,660 $ 18.49 202,037 $ 18.58 248,486 $ 18.59 Weighted-average fair value of options forfeited $ 4.21 $ 4.04 $ 4.86 The weighted-average remaining contractual term of outstanding stock options at December 31, 20 17 3.5 $913,000 December 31, 2017. $164,000 2017, $183,000 2016 $77,000 2015. The Corporation has issued shares from treasury stock for almost all stock option exercises through December 31, 201 7. not 2018. In January 2018, 25,416 9,086 2018 three one 16,578 2018 one 2018 $716,000. January 2018 not |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 4 . INCOME TAXES The net deferred tax asset at December 31, 2017 2016 December 31, December 31, (In Thousands) 2017 2016 Deferred tax assets: Unrealized holding losses on securities: Included in accumulated other comprehensive loss $ 843 $ 512 Included in retained earnings (337 ) 0 Allowance for loan losses 1,894 2,998 Other deferred tax assets 1,726 2,658 Total deferred tax assets 4,126 6,168 Deferred tax liabilities: Defined benefit plans - ASC 835: Included in accumulated other comprehensive loss 31 27 Included in retained earnings (12 ) 0 Bank premises and equipment 751 913 Core deposit intangibles 3 6 Other deferred tax liabilities 64 105 Total deferred tax liabilities 837 1,051 Deferred tax asset, net $ 3,289 $ 5,117 The provision for income taxes inclu des the following: (In thousands) 2017 2016 2015 Currently payable $ 4,938 $ 5,328 $ 5,097 Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets 63 175 161 Deferred 2,155 (156 ) 79 Total provision $ 7,156 $ 5,347 $ 5,337 A reconciliation of income tax at the statutory rate to the Corporation ’s effective rate is as follows (amounts in thousands): (Amounts in thousands) 2017 2016 2015 Amount % Amount % Amount % Expected provision $ 7,207 35.00 $ 7,388 35.00 $ 7,633 35.00 Tax-exempt interest income (1,817 ) (8.82 ) (1,801 ) (8.53 ) (1,914 ) (8.78 ) Nondeductible interest expense 42 0.20 40 0.19 51 0.23 Dividends received deduction (7 ) (0.03 ) (22 ) (0.10 ) (75 ) (0.34 ) Increase in cash surrender value of life insurance (133 ) (0.65 ) (134 ) (0.63 ) (135 ) (0.62 ) Employee stock option compensation 8 0.04 0 0.00 0 0.00 ESOP Dividends (154 ) (0.75 ) 0 0.00 0 0.00 Tax benefit from limited partnership investment (73 ) (0.35 ) (76 ) (0.36 ) (80 ) (0.37 ) Effect of tax rate change 2,159 10.49 0 0.00 0 0.00 Other, net (76 ) (0.37 ) (48 ) (0.23 ) (143 ) (0.66 ) Effective income tax provision $ 7,156 34.75 $ 5,347 25.33 $ 5,337 24.47 In 2017, $2,159,000 December 2017 21% January 1, 2018, 35% 2017, 2016 2015. $325,000 31, 2017. The Corporation has investments in three manage affordable housing projects that have qualified for the federal low-income housing tax credit. The Corporation’s expected return from these investments is based on the receipt of tax credits and tax benefits from deductions of operating losses. The Corporation uses the effective yield method to account for these investments, with the benefits recognized as a reduction of the provision for income taxes. For two three 2013, 2013 2017 2022. $608,000 December 31, 2017 $713,000 December 31, 2016 ( 2017, $157,000 $73,000. 2016, $158,000, $76,000. 2015, $160,000, $80,000. The Corporation has no . With limited exceptions, the Corporation is no 2014. |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 1 5 . RELATED PARTY TRANSACTIONS Loans to executive officers, directors of the Corporation and its subsidiaries and any associates of the foregoing persons are as follows: (In Thousands) Beginning New Other Ending Balance Loans Repayments Changes Balance 12 directors, 7 executive officers 2017 $ 11,414 $ 2,128 $ (2,061 ) $ 2,931 $ 14,412 12 directors, 7 executive officers 2016 10,246 307 (1,160 ) 2,021 11,414 11 directors, 7 executive officers 2015 12,023 52 (808 ) (1,021 ) 10,246 In the table above, o ther changes represent net changes in the balance of existing lines of credit and transfers in and out of the related party category. Deposits from related parties held by the Corporation amounted to $7,171,000 December 31, 2017 $6,261,000 December 31, 2016. |
Note 16 - Off-balance Sheet Ris
Note 16 - Off-balance Sheet Risk | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 16 . OFF-BALANCE SHEET RISK The Corporation is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financial needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit, interest rate or liquidity risk in excess of the amount recognized in the consolidated balance sheet s. The contract amounts of these instruments express the extent of involvement the Corporation has in particular classes of financial instruments. The Corporation ’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of these instruments. The Corporation uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Financial instruments whose contract amounts represent credit risk at December 31, 2017 2016 (In Thousands) 2017 2016 Commitments to extend credit $ 187,919 $ 180,768 Standby letters of credit 7,445 9,025 Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may not ’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Corporation, for extensions of credit is based on management’s credit assessment of the counterparty. Standby letters of credit are conditional commitments issued by the Corporation guaranteeing performance by a customer to a third . Some of the standby letters of credit are collateralized by real estate or other assets, and others are unsecured. The extent to which proceeds from liquidation of collateral would be expected to cover the maximum potential amount of future payments related to standby letters of credit is not no December 31, 2017 2016. Standby letters of credit as of December 31, 2017 Year of Expiration (In Thousands) 2018 $ 7,042 2019 355 2020 48 Total $ 7,445 |
Note 17 - Contingencies
Note 17 - Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 1 7 . CONTINGENCIES In the normal course of business, the Corporation is subject to pending and threatened litigation in which claims for monetary damages are asserted . In management’s opinion, the Corporation’s financial position and results of operations would not |
Note 18 - Regulatory Matters
Note 18 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 1 8 . REGULATORY MATTERS The Corporation (on a consolidated basis) and C&N Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory - and possibly additional discretionary - actions by regulators that, if undertaken, could have a direct material effect on the Corporation’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation and C&N Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Corporation and C&N Bank to maintain minimum amounts and ratios (set forth in the following table) of total capital, Tier I capital (as defined in the regulations) and Common equity Tier 1 December 31, 2017 2016, To be categorized as well capitalized, an institution must maintain minimum total risk based, Tier I risk based , Common equity risk based and Tier I leverage ratios as set forth in the following table. The Corporation’s and C&N Bank’s actual capital amounts and ratios are also presented in the following table: (Dollars in Thousands) Minimum To Be Well Actual Minimum Minimum To Maintain Capitalized Under Minimum To Meet Capital Capital Conservation Prompt Corrective the Corporation's Actual Requirement Buffer at Reporting Date Action Provisions Policy Thresholds Amount Ratio Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2017: Total capital to risk-weighted assets: Consolidated $ 187,097 23.07 % $ 64,872 > $ 75,008 > $ 81,090 > $ 85,144 > C&N Bank 165,142 20.47 % 64,528 > 74,611 > 80,661 > 84,694 > Tier 1 capital to risk-weighted assets: Consolidated 177,981 21.95 % 48,654 > 58,790 > 64,872 > 68,926 > C&N Bank 156,026 19.34 % 48,396 > 58,479 > 64,528 > 68,561 > Common equity tier 1 capital to risk-weighted assets: Consolidated 177,981 21.95 % 36,490 > 46,626 > 52,708 > 56,763 > C&N Bank 156,026 19.34 % 36,297 > 46,380 > 52,429 > 56,462 > Tier 1 capital to average assets: Consolidated 177,981 14.23 % 50,023 > N/A N/A 62,529 > 62,529 > C&N Bank 156,026 12.63 % 49,418 > N/A N/A 61,772 > 61,772 > December 31, 2016: Total capital to risk-weighted assets: Consolidated $ 183,597 23.60 % $ 62,245 > $ 67,108 > $ 77,806 > $ 81,697 > C&N Bank 162,705 21.03 % 61,894 > 66,730 > 77,368 > 81,236 > Tier 1 capital to risk-weighted assets: Consolidated 174,928 22.48 % 46,684 > 51,547 > 62,245 > 66,135 > C&N Bank 154,036 19.91 % 46,421 > 51,256 > 61,894 > 65,762 > Common equity tier 1 capital to risk-weighted assets: Consolidated 174,928 22.48 % 35,013 > 39,876 > 50,574 > 54,464 > C&N Bank 154,036 19.91 % 34,815 > 39,651 > 50,289 > 54,157 > Tier 1 capital to average assets: Consolidated 174,928 14.27 % 49,026 > N/A N/A 61,282 > 61,282 > C&N Bank 154,036 12.73 % 48,404 > N/A N/A 60,506 > 60,506 > In July 2013, January 1, 2015. ed higher minimum capital requirements, revised the definition of regulatory capital components and related calculations, added a new common equity tier 1 The current (new) capital rule provides that, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, a banking organization must hold a capital conservation buffer composed of common equity tier 1 2017 As of January 1: 2017 2018 2019 Minimum common equity tier 1 capital ratio 4.5 % 4.5 % 4.5 % Common equity tier 1 capital conservation buffer 1.25 % 1.875 % 2.5 % Minimum common equity tier 1 capital ratio plus capital conservation buffer 5.75 % 6.375 % 7.0 % Phase-in of most deductions from common equity tier 1 capital 80 % 100 % 100 % Minimum tier 1 capital ratio 6.0 % 6.0 % 6.0 % Minimum tier 1 capital ratio plus capital conservation buffer 7.25 % 7.875 % 8.5 % Minimum total capital ratio 8.0 % 8.0 % 8.0 % Minimum total capital ratio plus capital conservation buffer 9.25 % 9.875 % 10.5 % As fully phased in, a banking organization with a buffer greater than 2.5% not 2.5% 2.5% four not Capital Conservation Buffer Maximum Payout (as a % of risk-weighted assets) (as a % of eligible retained income) Greater than 2.5% No payout limitation applies ≤2.5% and >1.875% 60 % ≤1.875% and >1.25% 40 % ≤1.25% and >0.625% 20 % ≤0.625% 0 % At December 31, 2017 , the Corporation’s Capital Conservation Buffer, determined based on the minimum total capital ratio, was 15.07%. 12.47%. Banking regulators limit the amount of dividends that may C&N Bank to the Corporation. Retained earnings against which dividends may $88,980,000 December 31, 2017, Restrictions imposed by federal law prohibit the Corporati on from borrowing from C&N Bank unless the loans are secured in specific amounts. Such secured loans to the Corporation are generally limited to 10% $15,604,000 December 31, 2017. |
Note 19 - Parent Company Only
Note 19 - Parent Company Only | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 19 . PARENT COMPANY ONLY The following is condensed financial information for Citizens & Northern Corporation: CONDENSED BALANCE SHEET December 31, (In Thousands) 2017 2016 ASSETS Cash $ 6,790 $ 6,033 Investment in subsidiaries: Citizens & Northern Bank 166,576 165,397 Citizens & Northern Investment Corporation 11,588 11,168 Bucktail Life Insurance Company 3,488 3,419 Other assets 15 4 TOTAL ASSETS $ 188,457 $ 186,021 LIABILITIES AND STOCKHOLDERS' EQUITY Other liabilities $ 14 $ 13 Stockholders' equity 188,443 186,008 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 188,457 $ 186,021 CONDENSED INCOME STATEMENT (In Thousands) 2017 2016 2015 Dividends from Citizens & Northern Bank $ 12,022 $ 14,960 $ 11,569 Expenses (233 ) (367 ) (234 ) Income before equity in undistributed income of subsidiaries 11,789 14,593 11,335 Equity in undistributed income of subsidiaries 1,645 1,169 5,136 NET INCOME $ 13,434 $ 15,762 $ 16,471 CONDENSED STATEMENT OF CASH FLOWS (In Thousands) 2017 2016 2015 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 13,434 $ 15,762 $ 16,471 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (1,645 ) (1,169 ) (5,136 ) (Increase) decrease in other assets (11 ) 20 12 Increase (decrease) in other liabilities 1 (6 ) 12 Net Cash Provided by Operating Activities 11,779 14,607 11,359 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from sale of treasury stock 128 263 381 Tax (cost) benefit from compensation plans, net (5 ) 151 143 Purchase of treasury stock 0 (3,723 ) (4,415 ) Dividends paid (11,145 ) (11,112 ) (11,245 ) Net Cash Used in Financing Activities (11,022 ) (14,421 ) (15,136 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 757 186 (3,777 ) CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 6,033 5,847 9,624 CASH AND CASH EQUIVALENTS, END OF YEAR $ 6,790 $ 6,033 $ 5,847 |
Note 20 - Summary of Quarterly
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 20. SUMMARY OF QUARTERLY CONSOLIDATED FINANCIAL DATA (Unaudited) The following table presents summarized quarterly financial data for 201 7 2016: SUMMARY OF QUARTERLY CONSOLIDATED FINANCIAL DATA (In Thousands Except Per Share Data) (Unaudited) 2017 Quarter Ended Mar. 31, June 30, Sept. 30, Dec. 31, 2017 2017 2017 2017 Interest income $ 11,112 $ 11,340 $ 11,626 $ 11,785 Interest expense 953 978 985 999 Net interest income 10,159 10,362 10,641 10,786 Provision for loan losses 452 4 322 23 Net interest income after provision for loan losses 9,707 10,358 10,319 10,763 Other income 3,864 4,106 4,066 4,117 Net gains on available-for-sale securities 145 107 5 0 Other expenses 9,298 9,076 9,192 9,401 Income before income tax provision 4,418 5,495 5,198 5,479 Income tax provision 984 1,374 1,262 3,536 Net income $ 3,434 $ 4,121 $ 3,936 $ 1,943 Net income attributable to common shares $ 3,416 $ 4,100 $ 3,916 $ 1,933 Net income per share – basic $ 0.28 $ 0.34 $ 0.32 $ 0.16 Net income per share – diluted $ 0.28 $ 0.34 $ 0.32 $ 0.16 2016 Quarter Ended Mar. 31, June 30, Sept. 30, Dec. 31, 2016 2016 2016 2016 Interest income $ 10,937 $ 10,924 $ 11,131 $ 11,106 Interest expense 904 925 944 920 Net interest income 10,033 9,999 10,187 10,186 Provision (credit) for loan losses 368 318 538 (3 ) Net interest income after provision (credit) for loan losses 9,665 9,681 9,649 10,189 Other income 3,690 3,906 3,884 4,031 Net gains on available-for-sale securities 383 122 584 69 Other expenses 9,072 8,535 8,579 8,558 Income before income tax provision 4,666 5,174 5,538 5,731 Income tax provision 1,093 1,303 1,451 1,500 Net income $ 3,573 $ 3,871 $ 4,087 $ 4,231 Net income attributable to common shares $ 3,553 $ 3,850 $ 4,065 $ 4,209 Net income per share – basic $ 0.29 $ 0.32 $ 0.34 $ 0.35 Net income per share – diluted $ 0.29 $ 0.32 $ 0.34 $ 0.35 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | BASIS OF CONSOLIDATION - The consolidated financial statements include the accounts of Citizens & Northern Corporation and its subsidiaries, Citizens & Northern Bank (“C&N Bank”), Bucktail Life Insurance Company and Citizens & Northern Investment Corporation (collectively, “Corporation”), as well as C&N Bank’s wholly-owned subsidiary, C&N Financial Services Corporation. In December 2017, no 2017. |
Nature of Operations, Policy [Policy Text Block] | NATURE OF OPERATIONS - The Corporation is primarily engaged in providing a full range of banking and mortgage services to individual and corporate customers in North Central Pennsylvania and Southern New York State. Lending products include mortgage loans, commercial loans and consumer loans, as well as specialized instruments such as commercial letters-of-credit. Deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, Individual Retirement Accounts and certificates of deposit. The Corporation also offers non-insured “RepoSweep” accounts. The Corporation provides Trust and Financial Management services, including administration of trusts and estates, retirement plans, and other employee benefit plans, and investment management services . The Corporation offers a variety of personal and commercial insurance products through C&N Financial Services Corporation. C&N Financial Services Corporation also offers mutual funds, annuities, educational savings accounts and other investment products through registered agents. Management has determined that the Corporation has one ’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Corporation supports the others. The Corporation is subject to competition from other financial institutions. It is also subject to regulation by certain federal and state agencies and undergoes periodic examination by those regulatory authorities . As a consequence, the Corporation’s business is particularly susceptible to being affected by future federal and state legislation and regulations. |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES - The financial information is presented in accordance with generally accepted accounting principles and general practice for financial institutions in the United States of America (“U.S. GAAP”). In preparing financial statements, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements. In addition, these estimates and assumptions affect revenues and expenses in the financial statements and as such, actual results could differ from those estimates. Material estimates that are particularly susceptible to change include: ( 1 2 ( 3 not 4 5 |
Marketable Securities, Policy [Policy Text Block] | INVESTMENT SECURITIES - Investment securities are accounted for as follows: Available-for-sale securities - includes debt securities not may may Other-than-temporary impairment - Credit related declines in the fair value of available-for-sale securities that are deemed to be other-than-temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment (OTTI) losses, management considers ( 1 2 3 4 not Restricted equity securities - Restricted equity securities consist primarily of Federal Home Loan Bank of Pittsburgh stock, and are carried at cost and evaluated for impairment. Holdings of restricted equity securities are included in Other Assets in the consolidated balance sheets, and dividends received on restricted securities are included in Other Income in the consolidated statements of income. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | LOANS HELD FOR SALE - |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | LOANS RECEIVABLE - Loans receivable which management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at unpaid principal balances, less the allowance for loan losses and net deferred loan fees. Interest income is accrued on the unpaid principal balance. Loan origination and commitment fees, as well as certain direct origination costs, are deferred and amortized as a yield adjustment over the lives of the related loans using the interest method. The loans receivable portfolio is segmented into residential mortgage, commercial and consumer loans. The residential mortgage segment includes the following classes: first Loans are placed on nonaccrual status for all classes of loans when, in the opinion of management, collection of interest is doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is not six no |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ALLOWANCE FOR LOAN LOSSES - no 120 The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management 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 may may December 31, 2017 2016, no The allowance consists primarily of two – ( 1 2 The specific component relates to loans that are classified as impaired based on a detailed assessment of certain larger loan relationships evaluated by a management committee referred to as the Watch List Committee . Specific loan relationships are identified for evaluation based on the related credit risk rating. For individual loans classified as impaired, an allowance is established when the collateral value less estimated selling costs, present value of 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 individually impaired, as well as smaller balance homogeneous classes of loans, such as residential real estate, home equity lines of credit and other consumer loans. Accordingly, the Corporation generally does not three The qualitative factors used in the general component calculations are designed to address credit risk characteristics associated with each segment . The Corporation’s credit risk associated with all of the segments is significantly impacted by these factors, which include economic conditions within its market area, the Corporation’s lending policies, changes or trends in the portfolio, risk profile, competition, regulatory requirements and other factors. Further, the residential mortgage segment is significantly affected by the values of residential real estate that provide collateral for the loans. The majority of the Corporation’s commercial segment loans (approximately 53% December 31, 2017) Loans are classified as 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 by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not For commercial loans secured by real estate, estimated fair values are determined primarily through third For commercial and industrial 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 data 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. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a troubled debt restructuring generally involve reductions in required payments, an extension of a loan’s stated maturity date or a temporary reduction in interest rate. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings may not six |
Property, Plant and Equipment, Policy [Policy Text Block] | BANK PREMISES AND EQUIPMENT - Bank premises and equipment are stated at cost less accumulated depreciation. Repair and maintenance expenditures which extend the useful lives of assets are capitalized, and other repair and maintenance expenditures are expensed as incurred. Depreciation expense is computed using the straight-line method. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | IMPAIRMENT OF LONG-LIVED ASSETS - The Corporation reviews long-lived assets, such as premises and equipment and intangibles, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not may may not |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | FORECLOSED ASSETS HELD FOR SALE - Foreclosed assets held for sale consist of real estate acquired by foreclosure and are initially recorded at fair value, less estimated selling costs. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS - Goodwill represents the excess of the cost of acquisitions over the fair value of the net assets acquired. Goodwill is tested at least annually for impairment, or more often if events or circumstances indicate there may may not . |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | SERVICING RIGHTS - The estimated fair value of servicing rights related to mortgage loans sold and serviced by the Corporation is recorded as an asset upon the sale of such loans. The valuation of servicing rights is adjusted quarterly, with changes in fair value included in Loan Servicing Fees, Net, in the consolidated statements of income. Significant inputs to the valuation include expected net servicing income to be received, the expected life of the underlying loans and the discount rate. The servicing rights asset is included in Other Assets in the consolidated balance sheets. |
Income Tax, Policy [Policy Text Block] | INCOME TAXES - Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases given the provisions of the enacted tax laws. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are not Tax benefits from investments in limited partnerships that have qualified for federal low-income tax credits are recognized as a reduction in the provision for income tax over the term of the investment using the effective yield method. The Corporation includes income tax penalties in the provision for income tax. The Corporation has no |
Compensation Related Costs, Policy [Policy Text Block] | STOCK COMPENSATION PLANS - The Corporation’s stock-based compensation policy applies to all forms of stock-based compensation including stock options and restricted stock units. All stock-based compensation is accounted for under the fair value method as required by U.S. GAAP. The expense associated with stock-based compensation is recognized over the vesting period of each individual arrangement. The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option valuation model . The fair value of restricted stock is based on the current market price on the date of grant. |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | OFF-BALANCE SHEET FINANCIAL INSTRUMENTS - In the ordinary course of business, the Corporation has entered into off-balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they become payable. |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH FLOWS - The Corporation utilizes the net reporting of cash receipts and cash payments for certain deposit and lending activities. Cash equivalents include federal funds sold and all cash and amounts due from depository institutions and interest-bearing deposits in other banks with original maturities of three |
Trust Assets and Income, Policy [Policy Text Block] | TRUST ASSETS AND INCOME - Assets held by the Corporation in a fiduciary or agency capacity for its customers are not not not |
Note 3 - Comprehensive Income (
Note 3 - Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2017 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (691 ) $ 242 $ (449 ) Reclassification adjustment for (gains) realized in income (257 ) 89 (168 ) Other comprehensive loss on available-for-sale securities (948 ) 331 (617 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 36 (12 ) 24 Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost (24 ) 8 (16 ) Other comprehensive income on unfunded retirement obligations 12 (4 ) 8 Total other comprehensive loss $ (936 ) $ 327 $ (609 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2016 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (4,138 ) $ 1,448 $ (2,690 ) Reclassification adjustment for (gains) realized in income (1,158 ) 406 (752 ) Other comprehensive loss on available-for-sale securities (5,296 ) 1,854 (3,442 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive income 46 (16 ) 30 Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost (22 ) 8 (14 ) Other comprehensive income on unfunded retirement obligations 24 (8 ) 16 Total other comprehensive loss $ (5,272 ) $ 1,846 $ (3,426 ) (In Thousands) Before-Tax Income Tax Net-of-Tax Amount Effect Amount 2015 Unrealized losses on available-for-sale securities: Unrealized holding losses on available-for-sale securities $ (1,429 ) $ 500 $ (929 ) Reclassification adjustment for (gains) realized in income (2,861 ) 1,002 (1,859 ) Other comprehensive loss on available-for-sale securities (4,290 ) 1,502 (2,788 ) Unfunded pension and postretirement obligations: Changes from plan amendments and actuarial gains and losses included in other comprehensive loss (135 ) 47 (88 ) Amortization of net transition obligation, prior service cost , net and loss on settlement included in 67 (23 ) 44 Other comprehensive loss on unfunded retirement obligations (68 ) 24 (44 ) Total other comprehensive loss $ (4,358 ) $ 1,526 $ (2,832 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (In Thousands) Unrealized Accumulated Holding (Losses) Unfunded Other Gains on Retirement Comprehensive Securities Obligations (Loss) Income 2017 Balance, beginning of period $ (949 ) $ 51 $ (898 ) Change during year ended December 31, 2017 (617 ) 8 (609 ) Balance, end of period $ (1,566 ) $ 59 $ (1,507 ) 2016 Balance, beginning of period $ 2,493 $ 35 $ 2,528 Change during year ended December 31, 2016 (3,442 ) 16 (3,426 ) Balance, end of period $ (949 ) $ 51 $ (898 ) 2015 Balance, beginning of period $ 5,281 $ 79 $ 5,360 Change during year ended December 31, 2015 (2,788 ) (44 ) (2,832 ) Balance, end of period $ 2,493 $ 35 $ 2,528 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | For the Year Ended December 31, 2017 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Loss Components Comprehensive Loss Statements of Income Unrealized gains and losses on available-for-sale securities $ (257 ) Realized gains on available-for-sale securities, net 89 Income tax provision (168 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 7 Pensions and other employee benefits (24 ) Total before tax 8 Income tax provision (16 ) Net of tax Total reclassifications for the period $ (184 ) For the Year Ended December 31, 2016 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $ (1,158 ) Realized gains on available-for-sale securities, net 406 Income tax provision (752 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 9 Pensions and other employee benefits (22 ) Total before tax 8 Income tax provision (14 ) Net of tax Total reclassifications for the period $ (766 ) For the Year Ended December 31, 2015 (In Thousands) Reclassified from Details about Accumulated Other Accumulated Other Affected Line Item in the Consolidated Comprehensive Income Components Comprehensive Income Statements of Income Unrealized gains and losses on available-for-sale securities $ (2,861 ) Realized gains on available-for-sale securities, net 1,002 Income tax provision (1,859 ) Net of tax Amortization of defined benefit pension and postretirement items: Prior service cost (31 ) Pensions and other employee benefits Actuarial loss 11 Pensions and other employee benefits Loss on settlement 87 Pensions and other employee benefits 67 Total before tax (23 ) Income tax provision 44 Net of tax Total reclassifications for the period $ (1,815 ) |
Note 4 - Per Share Data (Tables
Note 4 - Per Share Data (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended Dec. 31, Dec. 31, Dec. 31, 2017 2016 2015 Basic Net income $ 13,434,000 $ 15,762,000 $ 16,471,000 Less: Dividends and undistributed earnings allocated to participating securities (69,000 ) (85,000 ) (84,000 ) Net income attributable to common shares $ 13,365,000 $ 15,677,000 $ 16,387,000 Basic weighted-average common shares outstanding 12,115,840 12,032,820 12,149,252 Basic earnings per common share (a) $ 1.10 $ 1.30 $ 1.35 Diluted Net income attributable to common shares $ 13,365,000 $ 15,677,000 $ 16,387,000 Basic weighted-average common shares outstanding 12,115,840 12,032,820 12,149,252 Dilutive effect of potential common stock arising from stock options 39,296 30,235 21,832 Diluted weighted-average common shares outstanding 12,155,136 12,063,055 12,171,084 Diluted earnings per common share (a) $ 1.10 $ 1.30 $ 1.35 |
Note 5 - Cash and Due From Ba32
Note 5 - Cash and Due From Banks (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Cash and Cash Equivalents [Table Text Block] | (In thousands) Dec. 31, Dec. 31, 2017 2016 Cash and cash equivalents $ 37,004 $ 28,621 Certificates of deposit 3,240 3,488 Total cash and due from banks $ 40,244 $ 32,109 |
Note 6 - Fair Value Measureme33
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2017 Quoted Prices Other in Active Observable Unobservable Total Markets Inputs Inputs Fair (In Thousands) (Level 1) (Level 2) (Level 3) Value Recurring fair value measurements AVAILABLE-FOR-SALE SECURITIES: Obligations of U.S. Government agencies $ 0 $ 7,873 $ 0 $ 7,873 Obligations of states and political subdivisions: Tax-exempt 0 105,111 0 105,111 Taxable 0 25,573 0 25,573 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 0 52,347 0 52,347 Residential collateralized mortgage obligations 0 131,814 0 131,814 Commercial mortgage-backed securities 0 33,219 0 33,219 Total debt securities 0 355,937 0 355,937 Marketable equity securities 971 0 0 971 Total available-for-sale securities 971 355,937 0 356,908 Servicing rights 0 0 1,299 1,299 Total recurring fair value measurements $ 971 $ 355,937 $ 1,299 $ 358,207 Nonrecurring fair value measurements Impaired loans with a valuation allowance $ 0 $ 0 $ 3,776 $ 3,776 Valuation allowance 0 0 (1,183 ) (1,183 ) Impaired loans, net 0 0 2,593 2,593 Foreclosed assets held for sale 0 0 1,598 1,598 Total nonrecurring fair value measurements $ 0 $ 0 $ 4,191 $ 4,191 December 31, 2016 Quoted Prices Other in Active Observable Unobservable Total Markets Inputs Inputs Fair (In Thousands) (Level 1) (Level 2) (Level 3) Value Recurring fair value measurements AVAILABLE-FOR-SALE SECURITIES: Obligations of U.S. Government agencies $ 0 $ 9,541 $ 0 $ 9,541 Obligations of states and political subdivisions: Tax-exempt 0 119,037 0 119,037 Taxable 0 30,297 0 30,297 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 0 58,404 0 58,404 Residential collateralized mortgage obligations 0 146,608 0 146,608 Commercial mortgage-backed securities 0 30,219 0 30,219 Total debt securities 0 394,106 0 394,106 Marketable equity securities 971 0 0 971 Total available-for-sale securities 971 394,106 0 395,077 Servicing rights 0 0 1,262 1,262 Total recurring fair value measurements $ 971 $ 394,106 $ 1,262 $ 396,339 Nonrecurring fair value measurements Impaired loans with a valuation allowance $ 0 $ 0 $ 3,372 $ 3,372 Valuation allowance 0 0 (674 ) (674 ) Impaired loans, net 0 0 2,698 2,698 Foreclosed assets held for sale 0 0 2,180 2,180 Total nonrecurring fair value measurements $ 0 $ 0 $ 4,878 $ 4,878 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (In Thousands) Years Ended December 31, 2017 2016 2015 Balance, beginning of period $ 1,262 $ 1,296 $ 1,281 Issuances of servicing rights 205 248 177 Unrealized losses included in earnings (168 ) (282 ) (162 ) Balance, end of period $ 1,299 $ 1,262 $ 1,296 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | (In Thousands) Valuation December 31, 201 7 December 31, 201 6 Method(s) Carrying Fair Carrying Fair Used Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $ 37,004 $ 37,004 $ 28,621 $ 28,621 Certificates of deposit Level 2 3,240 3,234 3,488 3,481 Available-for-sale securities See Above 356,908 356,908 395,077 395,077 Restricted equity securities (included in Other Assets) Level 2 6,556 6,556 4,426 4,426 Loans held for sale Level 2 765 765 142 142 Loans, net Level 3 806,857 789,891 743,362 725,787 Accrued interest receivable Level 2 4,048 4,048 3,963 3,963 Servicing rights Level 3 1,299 1,299 1,262 1,262 Financial liabilities: Deposits with no stated maturity Level 2 794,778 794,778 771,625 771,625 Time deposits Level 2 213,671 213,734 212,218 212,274 Short-term borrowings Level 2 61,766 61,643 26,175 26,024 Long-term borrowings Level 2 9,189 9,256 38,454 39,062 Accrued interest payable Level 2 46 46 65 65 |
Fair Value, Measurements, Nonrecurring [Member] | |
Notes Tables | |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | (In Thousands, Except Weighted- Percentages) Valuation Average Balance at Allowance at Fair Value at Valuation Unobservable Discount at Asset 12/31/17 12/31/17 12/31/17 Technique Inputs 12/31/17 Impaired loans: Residential mortgage loans - first liens $ 515 $ 122 $ 393 Sales comparison Discount to appraised value 26 % Commercial: Commercial loans secured by real estate 2,641 919 1,722 Sales comparison Discount to appraised value 16 % Commercial and industrial 126 92 34 Sales comparison Discount to appraised value 72 % Loans secured by farmland 494 50 444 Sales comparison Discount to appraised value 53 % Total impaired loans $ 3,776 $ 1,183 $ 2,593 Foreclosed assets held for sale - real estate: Residential (1-4 family) $ 721 $ 0 $ 721 Sales comparison Discount to appraised value 37 % Land 632 0 632 Sales comparison Discount to appraised value 35 % Commercial real estate 245 0 245 Sales comparison Discount to appraised value 71 % Total foreclosed assets held for sale $ 1,598 $ 0 $ 1,598 (In Thousands, Except Weighted- Percentages) Valuation Average Balance at Allowance at Fair Value at Valuation Unobservable Discount at Asset 12/31/16 12/31/16 12/31/16 Technique Inputs 12/31/1 6 Impaired loans: Commercial: Commercial loans secured by real estate $ 2,773 $ 528 $ 2,245 Sales comparison Discount to appraised value 7 % Commercial and industrial 95 95 0 Sales comparison Discount to appraised value 100 % Loans secured by farmland 504 51 453 Sales comparison Discount to appraised value 55 % Total impaired loans $ 3,372 $ 674 $ 2,698 Foreclosed assets held for sale - real estate: Residential (1-4 family) $ 1,102 $ 0 $ 1,102 Sales comparison Discount to appraised value 35 % Land 650 0 650 Sales comparison Discount to appraised value 33 % Commercial real estate 428 0 428 Sales comparison Discount to appraised value 50 % Total foreclosed assets held for sale $ 2,180 $ 0 $ 2,180 |
Fair Value, Measurements, Recurring [Member] | |
Notes Tables | |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Fair Value at 12/31/1 7 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/1 7 Servicing rights $ 1,299 Discounted cash flow Discount rate 13.00 % Rate used through modeling period Loan prepayment speeds 140.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $ 1.94 Miscellaneous fees per account per month Servicing costs $ 6.00 Monthly servicing cost per account $ 24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs Fair Value at 12/31/1 6 Valuation Unobservable Method or Value As of Asset (In Thousands) Technique Input(s) 12/31/1 6 Servicing rights $ 1,262 Discounted cash flow Discount rate 13.00 % Rate used through modeling period Loan prepayment speeds 138.00 % Weighted-average PSA Servicing fees 0.25 % of loan balances 4.00 % of payments are late 5.00 % late fees assessed $ 1.94 Miscellaneous fees per account per month Servicing costs $ 6.00 Monthly servicing cost per account $ 24.00 Additional monthly servicing cost per loan on loans more than 30 days delinquent 1.50 % of loans more than 30 days delinquent 3.00 % annual increase in servicing costs |
Note 7 - Securities (Tables)
Note 7 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | December 31, 2017 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $ 8,026 $ 0 $ (153 ) $ 7,873 Obligations of states and political subdivisions: Tax-exempt 103,673 2,291 (853 ) 105,111 Taxable 25,431 226 (84 ) 25,573 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 52,992 79 (724 ) 52,347 Residential collateralized mortgage obligations 134,314 110 (2,610 ) 131,814 Commercial mortgage-backed securities 33,881 4 (666 ) 33,219 Total debt securities 358,317 2,710 (5,090 ) 355,937 Marketable equity securities 1,000 0 (29 ) 971 Total $ 359,317 $ 2,710 $ (5,119 ) $ 356,908 December 31, 2016 Gross Gross Unrealized Unrealized Amortized Holding Holding Fair (In Thousands) Cost Gains Losses Value Obligations of U.S. Government agencies $ 9,671 $ 5 $ (135 ) $ 9,541 Obligations of states and political subdivisions: Tax-exempt 118,140 2,592 (1,695 ) 119,037 Taxable 30,073 303 (79 ) 30,297 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 58,922 306 (824 ) 58,404 Residential collateralized mortgage obligations 147,915 408 (1,715 ) 146,608 Commercial mortgage-backed securities 30,817 0 (598 ) 30,219 Total debt securities 395,538 3,614 (5,046 ) 394,106 Marketable equity securities 1,000 0 (29 ) 971 Total $ 396,538 $ 3,614 $ (5,075 ) $ 395,077 |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 2017 Less Than 12 Months 12 Months or More Total (In Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of U.S. Government agencies $ 0 $ 0 $ 7,873 $ (153 ) $ 7,873 $ (153 ) Obligations of states and political subdivisions: Tax-exempt 19,050 (135 ) 24,391 (718 ) 43,441 (853 ) Taxable 9,279 (45 ) 2,116 (39 ) 11,395 (84 ) Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 25,255 (242 ) 22,549 (482 ) 47,804 (724 ) Residential collateralized mortgage obligations 50,812 (589 ) 68,558 (2,021 ) 119,370 (2,610 ) Commercial mortgage-backed securities 14,713 (173 ) 14,569 (493 ) 29,282 (666 ) Total debt securities 119,109 (1,184 ) 140,056 (3,906 ) 259,165 (5,090 ) Marketable equity securities 0 0 971 (29 ) 971 (29 ) Total temporarily impaired available-for-sale securities $ 119,109 $ (1,184 ) $ 141,027 $ (3,935 ) $ 260,136 $ (5,119 ) December 31, 2016 Less Than 12 Months 12 Months or More Total (In Thousands) Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Obligations of U.S. Government agencies $ 7,899 $ (135 ) $ 0 $ 0 $ 7,899 $ (135 ) Obligations of states and political subdivisions: Tax-exempt 54,479 (1,676 ) 1,278 (19 ) 55,757 (1,695 ) Taxable 9,594 (79 ) 0 0 9,594 (79 ) Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 48,674 (824 ) 0 0 48,674 (824 ) Residential collateralized mortgage obligations 85,198 (1,124 ) 16,073 (591 ) 101,271 (1,715 ) Commercial mortgage-backed securities 30,219 (598 ) 0 0 30,219 (598 ) Total debt securities 236,063 (4,436 ) 17,351 (610 ) 253,414 (5,046 ) Marketable equity securities 1,000 (29 ) 0 0 1,000 (29 ) Total temporarily impaired available-for-sale securities $ 237,063 $ (4,465 ) $ 17,351 $ (610 ) $ 254,414 $ (5,075 ) |
Realized Gain (Loss) on Investments [Table Text Block] | (In Thousands) 2017 2016 2015 Gross realized gains from sales $ 315 $ 1,392 $ 2,972 Gross realized losses from sales (58 ) (234 ) (111 ) Net realized gains $ 257 $ 1,158 $ 2,861 Income tax provision related to net realized gains $ 89 $ 406 $ 1,002 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 2017 Amortized Fair (In Thousands) Cost Value Due in one year or less $ 11,350 $ 11,347 Due from one year through five years 69,274 70,016 Due from five years through ten years 37,086 37,089 Due after ten years 19,420 20,105 Sub -total 137,130 138,557 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities 52,992 52,347 Residential collateralized mortgage obligations 134,314 131,814 Commercial mortgage-backed securities 33,881 33,219 Total $ 358,317 $ 355,937 |
Note 8 - Loans (Tables)
Note 8 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Summary of Loans by Type (In Thousands) Dec. 31, Dec. 31, 2017 2016 Residential mortgage: Residential mortgage loans - first liens $ 359,987 $ 334,102 Residential mortgage loans - junior liens 25,325 23,706 Home equity lines of credit 35,758 38,057 1-4 Family residential construction 26,216 24,908 Total residential mortgage 447,286 420,773 Commercial: Commercial loans secured by real estate 159,266 150,468 Commercial and industrial 88,276 83,854 Political subdivisions 59,287 38,068 Commercial construction and land 14,527 14,287 Loans secured by farmland 7,255 7,294 Multi-family (5 or more) residential 7,713 7,896 Agricultural loans 6,178 3,998 Other commercial loans 10,986 11,475 Total commercial 353,488 317,340 Consumer 14,939 13,722 Total 815,713 751,835 Less: allowance for loan losses (8,856 ) (8,473 ) Loans, net $ 806,857 $ 743,362 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Year Ended December 31, 2017 Dec. 31, Dec. 31, (In Thousands) 2016 Balance Charge-offs Recoveries Provision (Credit) 2017 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 3,033 $ (167 ) $ 15 $ 319 $ 3,200 Residential mortgage loans - junior liens 258 (16 ) 4 (22 ) 224 Home equity lines of credit 350 (14 ) 0 (40 ) 296 1-4 Family residential construction 249 0 0 (6 ) 243 Total residential mortgage 3,890 (197 ) 19 251 3,963 Commercial: Commercial loans secured by real estate 2,380 (96 ) 0 300 2,584 Commercial and industrial 999 (36 ) 4 98 1,065 Commercial construction and land 162 0 0 (12 ) 150 Loans secured by farmland 110 0 0 (5 ) 105 Multi-family (5 or more) residential 241 0 0 (69 ) 172 Agricultural loans 40 0 0 17 57 Other commercial loans 115 0 0 (13 ) 102 Total commercial 4,047 (132 ) 4 316 4,235 Consumer 138 (150 ) 38 133 159 Unallocated 398 0 0 101 499 Total Allowance for Loan Losses $ 8,473 $ (479 ) $ 61 $ 801 $ 8,856 Year Ended December 31, 2016 Dec. 31 Dec. 31 (In Thousands) 2015 Balance Charge-offs Recoveries Provision (Credit) 2016 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,645 $ (73 ) $ 3 $ 458 $ 3,033 Residential mortgage loans - junior liens 219 0 0 39 258 Home equity lines of credit 347 0 0 3 350 1-4 Family residential construction 207 0 0 42 249 Total residential mortgage 3,418 (73 ) 3 542 3,890 Commercial: Commercial loans secured by real estate 1,939 0 2 439 2,380 Commercial and industrial 981 (2 ) 3 17 999 Political subdivisions 0 0 0 0 0 Commercial construction and land 58 0 30 74 162 Loans secured by farmland 106 0 0 4 110 Multi-family (5 or more) residential 675 (595 ) 0 161 241 Agricultural loans 45 0 0 (5 ) 40 Other commercial loans 118 0 0 (3 ) 115 Total commercial 3,922 (597 ) 35 687 4,047 Consumer 122 (87 ) 82 21 138 Unallocated 427 0 0 (29 ) 398 Total Allowance for Loan Losses $ 7,889 $ (757 ) $ 120 $ 1,221 $ 8,473 Year Ended December 31, 2015 Dec. 31, Dec. 31, (In Thousands) 2014 Balance Charge-offs Recoveries Provision (Credit) 2015 Balance Allowance for Loan Losses: Residential mortgage: Residential mortgage loans - first liens $ 2,941 $ (175 ) $ 1 $ (122 ) $ 2,645 Residential mortgage loans - junior liens 176 (42 ) 0 85 219 Home equity lines of credit 322 0 0 25 347 1-4 Family residential construction 214 0 0 (7 ) 207 Total residential mortgage 3,653 (217 ) 1 (19 ) 3,418 Commercial: Commercial loans secured by real estate 1,758 (115 ) 208 88 1,939 Commercial and industrial 688 (21 ) 6 308 981 Political subdivisions 0 0 0 0 0 Commercial construction and land 283 (115 ) 0 (110 ) 58 Loans secured by farmland 165 0 0 (59 ) 106 Multi-family (5 or more) residential 87 0 0 588 675 Agricultural loans 31 0 0 14 45 Other commercial loans 131 0 0 (13 ) 118 Total commercial 3,143 (251 ) 214 816 3,922 Consumer 145 (94 ) 55 16 122 Unallocated 395 0 0 32 427 Total Allowance for Loan Losses $ 7,336 $ (562 ) $ 270 $ 845 $ 7,889 |
Financing Receivable Credit Quality Indicators [Table Text Block] | December 31, 2017 (In Thousands) Special Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $ 350,609 $ 307 $ 9,019 $ 52 $ 359,987 Residential mortgage loans - junior liens 24,795 104 426 0 25,325 Home equity lines of credit 35,233 61 464 0 35,758 1-4 Family residential construction 26,216 0 0 0 26,216 Total residential mortgage 436,853 472 9,909 52 447,286 Commercial: Commercial loans secured by real estate 150,806 936 7,524 0 159,266 Commercial and Industrial 82,724 3,896 1,645 11 88,276 Political subdivisions 59,287 0 0 0 59,287 Commercial construction and land 14,449 0 78 0 14,527 Loans secured by farmland 5,283 581 1,379 12 7,255 Multi-family (5 or more) residential 7,130 0 583 0 7,713 Agricultural loans 5,203 270 705 0 6,178 Other commercial loans 10,913 0 73 0 10,986 Total commercial 335,795 5,683 11,987 23 353,488 Consumer 14,853 0 86 0 14,939 Totals $ 787,501 $ 6,155 $ 21,982 $ 75 $ 815,713 December 31, 2016 (In Thousands) Special Pass Mention Substandard Doubtful Total Residential Mortgage: Residential mortgage loans - first liens $ 324,377 $ 408 $ 9,258 $ 59 $ 334,102 Residential mortgage loans - junior liens 23,274 132 300 0 23,706 Home equity lines of credit 37,360 123 574 0 38,057 1-4 Family residential construction 24,820 0 88 0 24,908 Total residential mortgage 409,831 663 10,220 59 420,773 Commercial: Commercial loans secured by real estate 139,358 3,092 8,018 0 150,468 Commercial and Industrial 79,202 4,180 461 11 83,854 Political subdivisions 38,068 0 0 0 38,068 Commercial construction and land 14,136 70 81 0 14,287 Loans secured by farmland 5,745 129 1,404 16 7,294 Multi-family (5 or more) residential 7,277 0 619 0 7,896 Agricultural loans 3,208 0 790 0 3,998 Other commercial loans 11,401 0 74 0 11,475 Total commercial 298,395 7,471 11,447 27 317,340 Consumer 13,546 0 176 0 13,722 Totals $ 721,772 $ 8,134 $ 21,843 $ 86 $ 751,835 |
Impaired Financing Receivable by Portfolio Segment [Table Text Block] | December 31, 2017 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $ 984 $ 359,003 $ 359,987 $ 0 $ 3,200 $ 3,200 Residential mortgage loans - junior liens 302 25,023 25,325 122 102 224 Home equity lines of credit 0 35,758 35,758 0 296 296 1-4 Family residential construction 0 26,216 26,216 0 243 243 Total residential mortgage 1,286 446,000 447,286 122 3,841 3,963 Commercial: Commercial loans secured by real estate 5,873 153,393 159,266 919 1,665 2,584 Commercial and industrial 568 87,708 88,276 188 877 1,065 Political subdivisions 0 59,287 59,287 0 0 0 Commercial construction and land 0 14,527 14,527 0 150 150 Loans secured by farmland 1,365 5,890 7,255 50 55 105 Multi-family (5 or more) residential 392 7,321 7,713 0 172 172 Agricultural loans 7 6,171 6,178 0 57 57 Other commercial loans 0 10,986 10,986 0 102 102 Total commercial 8,205 345,283 353,488 1,157 3,078 4,235 Consumer 20 14,919 14,939 0 159 159 Unallocated 499 Total $ 9,511 $ 806,202 $ 815,713 $ 1,279 $ 7,078 $ 8,856 December 31, 2016 Loans: Allowance for Loan Losses: (In Thousands) Individually Collectively Individually Collectively Evaluated Evaluated Totals Evaluated Evaluated Totals Residential mortgage: Residential mortgage loans - first liens $ 753 $ 333,349 $ 334,102 $ 0 $ 3,033 $ 3,033 Residential mortgage loans - junior liens 68 23,638 23,706 0 258 258 Home equity lines of credit 0 38,057 38,057 0 350 350 1-4 Family residential construction 0 24,908 24,908 0 249 249 Total residential mortgage 821 419,952 420,773 0 3,890 3,890 Commercial: Commercial loans secured by real estate 8,005 142,463 150,468 528 1,852 2,380 Commercial and industrial 212 83,642 83,854 95 904 999 Political subdivisions 0 38,068 38,068 0 0 0 Commercial construction and land 0 14,287 14,287 0 162 162 Loans secured by farmland 1,394 5,900 7,294 51 59 110 Multi-family (5 or more) residential 392 7,504 7,896 0 241 241 Agricultural loans 13 3,985 3,998 0 40 40 Other commercial loans 0 11,475 11,475 0 115 115 Total commercial 10,016 307,324 317,340 674 3,373 4,047 Consumer 23 13,699 13,722 0 138 138 Unallocated 398 Total $ 10,860 $ 740,975 $ 751,835 $ 674 $ 7,401 $ 8,473 |
Impaired Financing Receivables [Table Text Block] | (In Thousands) December 31, 2017 December 31, 2016 Unpaid Unpaid Principal Recorded Related Principal Recorded Related Balance Investment Allowance Balance Investment Allowance With no related allowance recorded: Residential mortgage loans - first liens $ 740 $ 711 $ 0 $ 783 $ 753 $ 0 Residential mortgage loans - junior liens 60 60 0 68 68 0 Commercial loans secured by real estate 3,230 3,230 0 6,975 5,232 0 Commercial and industrial 119 119 0 117 117 0 Loans secured by farmland 871 871 0 890 890 0 Multi-family (5 or more) residential 987 392 0 987 392 0 Agricultural loans 8 8 0 13 13 0 Consumer 20 20 0 23 23 0 Total with no related allowance recorded 6,035 5,411 0 9,856 7,488 0 With a related allowance recorded: Residential mortgage loans - first liens 273 273 0 0 0 0 Residential mortgage loans - junior liens 242 242 122 0 0 0 Commercial loans secured by real estate 2,641 2,641 919 2,773 2,773 528 Commercial and industrial 449 449 188 95 95 95 Loans secured by farmland 495 495 50 504 504 51 Total with a related allowance recorded 4,100 4,100 1,279 3,372 3,372 674 Total $ 10,135 $ 9,511 $ 1,279 $ 13,228 $ 10,860 $ 674 |
Schedule Of Additional Information On Impaired Loans [Table Text Block] | Interest Income Recognized on Average Investment in Impaired Loans Impaired Loans on a Cash Basis (In Thousands) Year Ended December 31, Year Ended December 31, 2017 2016 2015 2017 2016 2015 Residential mortgage: Residential mortgage loans - first lien $ 857 $ 806 $ 2,206 $ 52 $ 43 $ 86 Residential mortgage loans - junior lien 112 71 64 15 3 4 Total residential mortgage 969 877 2,270 67 46 90 Commercial: Commercial loans secured by real estate 6,272 6,806 6,357 173 495 380 Commercial and industrial 301 547 438 24 20 20 Commercial construction and land 0 0 40 0 0 0 Loans secured by farmland 1,379 1,409 1,459 45 94 103 Multi-family (5 or more) residential 392 511 790 0 0 0 Agricultural loans 10 14 21 1 1 3 Total commercial 8,354 9,287 9,105 243 610 506 Consumer 26 21 0 1 1 0 Total $ 9,349 $ 10,185 $ 11,375 $ 311 $ 657 $ 596 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In Thousands) December 31, 2017 December 31, 2016 Past Due Past Due 90+ Days and 90+ Days and Accruing Nonaccrual Accruing Nonaccrual Residential mortgage: Residential mortgage loans - first liens $ 2,340 $ 5,131 $ 3,022 $ 3,770 Residential mortgage loans - junior liens 105 242 114 0 Home equity lines of credit 203 44 320 11 Total residential mortgage 2,648 5,417 3,456 3,781 Commercial: Commercial loans secured by real estate 175 5,645 2,774 3,080 Commercial and industrial 603 517 286 119 Commercial construction and land 26 52 0 0 Loans secured by farmland 271 1,308 219 1,331 Multi-family (5 or more) residential 0 392 0 392 Agricultural loans 0 7 0 13 Total commercial 1,075 7,921 3,279 4,935 Consumer 1 66 103 20 Totals $ 3,724 $ 13,404 $ 6,838 $ 8,736 |
Past Due Financing Receivables [Table Text Block] | As of December 31, 2017 As of December 31, 2016 Current & Current & (In Thousands) Past Due Past Due Past Due Past Due Past Due Past Due Less than 30-89 90+ Less than 30-89 90+ 30 Days Days Days Total 30 Days Days Days Total Residential mortgage: Residential mortgage loans - first liens $ 347,032 $ 7,967 $ 4,988 $ 359,987 $ 321,670 $ 6,695 $ 5,737 $ 334,102 Residential mortgage loans - junior liens 25,133 87 105 25,325 23,268 324 114 23,706 Home equity lines of credit 34,789 732 237 35,758 37,603 134 320 38,057 1-4 Family residential construction 25,667 549 0 26,216 24,567 341 0 24,908 Total residential mortgage 432,621 9,335 5,330 447,286 407,108 7,494 6,171 420,773 Commercial: Commercial loans secured by real estate 155,917 311 3,038 159,266 147,464 82 2,922 150,468 Commercial and industrial 87,306 303 667 88,276 83,364 185 305 83,854 Political subdivisions 59,287 0 0 59,287 38,068 0 0 38,068 Commercial construction and land 14,400 49 78 14,527 14,199 88 0 14,287 Loans secured by farmland 6,226 12 1,017 7,255 6,181 83 1,030 7,294 Multi-family (5 or more) residential 7,321 0 392 7,713 7,439 65 392 7,896 Agricultural loans 6,114 57 7 6,178 3,981 4 13 3,998 Other commercial loans 10,986 0 0 10,986 11,475 0 0 11,475 Total commercial 347,557 732 5,199 353,488 312,171 507 4,662 317,340 Consumer 14,760 123 56 14,939 13,446 153 123 13,722 Totals $ 794,938 $ 10,190 $ 10,585 $ 815,713 $ 732,725 $ 8,154 $ 10,956 $ 751,835 |
Contractual Aging of Nonaccrual Loans [Table Text Block] | Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Total December 31, 2017 Nonaccrual Totals $ 5,802 $ 741 $ 6,861 $ 13,404 December 31, 2016 Nonaccrual Totals $ 4,199 $ 419 $ 4,118 $ 8,736 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Troubled Debt Restructurings (TDRs): Current & (In Thousands) Past Due Past Due Past Due Less than 30-89 90+ 30 Days Days Days Nonaccrual Total December 31, 2017 Totals $ 636 $ 0 $ 0 $ 3,027 $ 3,663 December 31, 2016 Totals $ 5,453 $ 350 $ 0 $ 2,874 $ 8,677 |
Schedule of Troubled Debt Restructurings With Subsequent Default [Table Text Block] | (Balances in Thousands) 2016 2015 Number Number of Recorded of Recorded Loans Investment Loans Investment Residential mortgage - first liens 2 $ 294 1 $ 32 Residential mortgage - junior liens 1 29 0 0 Commercial and industrial 1 5 0 0 Consumer 1 27 0 0 Total 5 $ 355 1 $ 32 |
Schedule of Real Estate Acquired Through Foreclosure [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2017 2016 Foreclosed residential real estate $ 721 $ 1,102 |
Schedule of Mortgage Loans in Process of Foreclosure [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2017 2016 Residential real estate in process of foreclosure $ 1,789 $ 2,738 |
Troubled Debt Restructuring [Member] | |
Notes Tables | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | (Balances in Thousands) 2016 2015 Post- Post- Number Modification Number Modification of Recorded of Recorded Loans Investment Loans Investment Residential mortgage - first liens: Extended maturity with interest rate reduction 1 $ 71 1 $ 56 Extended maturity with reduced monthly payments 1 26 0 0 Reduced monthly payments for a six-month period 0 0 1 242 Residential mortgage - junior liens, Interest rate and monthly payment reduction 0 0 1 32 Commercial loans secured by real estate, Interest only payments for a period of one year 1 2,773 0 0 Commercial and industrial, Extended maturity 1 5 0 0 Consumer: Interest rate and monthly payment reduction 0 0 1 30 New unsecured loan after short-fall from sale of property 1 24 0 0 Total 5 $ 2,899 4 $ 360 |
Note 9 - Bank Premises and Eq36
Note 9 - Bank Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In Thousands) December 31, 2017 2016 Land $ 2,818 $ 2,818 Buildings and improvements 28,285 27,619 Furniture and equipment 15,578 18,741 Construction in progress 268 392 Total 46,949 49,570 Less: accumulated depreciation (31,517 ) (34,173 ) Net $ 15,432 $ 15,397 |
Schedule of Depreciation Expense [Table Text Block] | (In Thousands) 2017 2016 2015 Occupancy expense $ 801 $ 804 $ 954 Furniture and equipment expense 838 785 934 Total $ 1,639 $ 1,589 $ 1,888 |
Note 10 - Intangible Assets (Ta
Note 10 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, (In Thousands) 2017 2016 Gross amount $ 2,034 $ 2,034 Less: accumulated amortization (2,022 ) (2,017 ) Net $ 12 $ 17 |
Note 11 - Deposits (Tables)
Note 11 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Time Deposit Maturities [Table Text Block] | (In Thousands) 2018 $ 112,563 2019 57,097 2020 22,836 2021 7,975 2022 10,484 Thereafter 2,716 Total $ 213,671 |
Schedule of Remaining Maturities of Time Deposits in Excess of 250000 [Table Text Block] | (In Thousands) Three months or less $ 4,833 Over 3 months through 12 months 5,375 Over 1 year through 3 years 1,148 Over 3 years 1,297 Total $ 12,653 |
Note 12 - Borrowed Funds (Table
Note 12 - Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2017 2016 FHLB-Pittsburgh borrowings $ 58,000 $ 21,000 Customer repurchase agreements 3,766 5,175 Total short-term borrowings $ 61,766 $ 26,175 (In Thousands) Dec. 31, Dec. 31 2017 2016 Overnight borrowing $ 29,000 $ 21,000 Other short-term advances 29,000 0 Total short-term FHLB-Pittsburgh borrowings $ 58,000 $ 21,000 |
Schedule of Long-term Debt Instruments [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2017 2016 FHLB-Pittsburgh borrowings $ 9,189 $ 11,454 Repurchase agreements 0 27,000 Total long-term borrowings $ 9,189 $ 38,454 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2017 2016 Loan matur ed in 2017 with a rate of 6.83% $ 0 $ 4 Loan matur ed in 2017 with a rate of 3.81% 0 10,000 Loan maturing in 2018 with a rate of 1.63% 3,000 0 Loan maturing in 2018 with a rate of 1.35% 3,000 0 Loan maturing in 2019 with a rate of 1.83% 2,000 0 Loan maturing in 2020 with a rate of 4.79% 463 646 Loan maturing in 2025 with a rate of 4.91% 726 804 Total long-term FHLB-Pittsburgh borrowings $ 9,189 $ 11,454 |
Schedule of Underlying Assets of Repurchase Agreements [Table Text Block] | (In Thousands) Dec. 31, Dec. 31, 2017 2016 Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies: Residential pass-through securities $ 0 $ 18,181 Residential collateralized mortgage obligations 0 13,313 Total $ 0 $ 31,494 |
Note 13 - Employee and Postre40
Note 13 - Employee and Postretirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Net Funded Status [Table Text Block] | (In Thousands) Pension Postretirement 2017 2016 2017 2016 CHANGE IN BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 713 $ 722 $ 1,555 $ 1,539 Service cost 0 0 36 37 Interest cost 24 26 57 62 Plan participants' contributions 0 0 211 215 Actuarial loss (gain) 127 3 (103 ) (30 ) Benefits paid (14 ) (38 ) (259 ) (268 ) Benefit obligation at end of year $ 850 $ 713 $ 1,497 $ 1,555 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year $ 846 $ 839 $ 0 $ 0 Actual return on plan assets 91 45 0 0 Employer contribution 0 0 48 53 Plan participants' contributions 0 0 211 215 Benefits paid (14 ) (38 ) (259 ) (268 ) Fair value of plan assets at end of year $ 923 $ 846 $ 0 $ 0 Funded status at end of year $ 73 $ 133 $ (1,497 ) $ (1,555 ) |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Assets and liabilities: (In Thousands) Pension Postretirement 2017 2016 2017 2016 Other assets $ 73 $ 133 Accrued interest and other liabilities $ 1,497 $ 1,555 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | Items not yet recognized as a component of net periodic benefit cost: (In Thousands) Pension Postretirement 2017 2016 2017 2016 Prior service cost $ 0 $ 0 $ (309 ) $ (340 ) Net actuarial loss (gain) 221 161 (2 ) 101 Total $ 221 $ 161 $ (311 ) $ (239 ) |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | (In Thousands) Pension Postretirement 2017 2016 2015 2017 2016 2015 Service cost $ 0 $ 0 $ 0 $ 36 $ 37 $ 38 Interest cost 24 26 36 57 62 57 Expected return on plan assets (31 ) (26 ) (45 ) 0 0 0 Amortization of prior service cost 0 0 0 (31 ) (31 ) (31 ) Recognized net actuarial loss 7 9 11 0 0 0 Loss on settlement 0 0 87 0 0 0 Total net periodic benefit cost $ 0 $ 9 $ 89 $ 62 $ 68 $ 64 |
Schedule of Assumptions Used [Table Text Block] | Pension Postretirement 2017 2016 2015 2017 2016 2015 Discount rate 4.05 % 4.30 % 3.75 % 3.75 % 4.25 % 4.00 % Expected return on plan assets 6.00 % 5.00 % 5.31 % N/A N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A Pension Postretirement 2017 2016 2017 2016 Discount rate 3.55 % 4.05 % 3.75 % 4.25 % Rate of compensation increase N/A N/A N/A N/A |
Schedule of Expected Benefit Payments [Table Text Block] | (In Thousands) Pension Postretirement 2018 $ 312 $ 96 20 1 9 41 96 2020 13 104 2021 12 101 2022 14 105 2023-2027 226 516 |
Schedule of Allocation of Plan Assets [Table Text Block] | 2017 2016 Mut ual funds invested principally in: Cash and cash equivalents 2 % 2 % Debt securities 37 % 38 % Equity securities 45 % 44 % Alternative funds 16 % 16 % Total 100 % 100 % |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | (In Thousands) 2017 2016 2015 Restricted stock $ 627 $ 578 $ 606 Stock options 0 0 0 Total $ 627 $ 578 $ 606 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Weighted Average Number Grant Date of Shares Fair Value Outstanding, December 31, 2016 63,362 $ 20.35 Granted 30,782 $ 25.97 Vested (28,981 ) $ 20.21 Forfeited (4,406 ) $ 21.74 Outstanding, December 31, 2017 60,757 $ 23.17 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | 2017 2016 2015 Weighted Weighted Weighted Average Average Average Exercise Exercise Exercise Shares Price Shares Price Shares Price Outstanding, beginning of year 202,037 $ 18.58 248,486 $ 18.59 316,157 $ 19.05 Granted 0 0 0 Exercised (24,976 ) $ 17.50 (35,880 ) $ 18.86 (29,557 ) $ 17.56 Forfeited (635 ) $ 19.88 (10,569 ) $ 18.03 (20,211 ) $ 19.76 Expired (10,766 ) $ 22.33 0 (17,903 ) $ 27.00 Outstanding, end of year 165,660 $ 18.49 202,037 $ 18.58 248,486 $ 18.59 Options exercisable at year-end 165,660 $ 18.49 202,037 $ 18.58 248,486 $ 18.59 Weighted-average fair value of options forfeited $ 4.21 $ 4.04 $ 4.86 |
Restricted Stock [Member] | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | 2017 2016 Executive Officers 14,897 17,289 Other employees 7,415 10,304 Total 22,312 27,593 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, December 31, (In Thousands) 2017 2016 Deferred tax assets: Unrealized holding losses on securities: Included in accumulated other comprehensive loss $ 843 $ 512 Included in retained earnings (337 ) 0 Allowance for loan losses 1,894 2,998 Other deferred tax assets 1,726 2,658 Total deferred tax assets 4,126 6,168 Deferred tax liabilities: Defined benefit plans - ASC 835: Included in accumulated other comprehensive loss 31 27 Included in retained earnings (12 ) 0 Bank premises and equipment 751 913 Core deposit intangibles 3 6 Other deferred tax liabilities 64 105 Total deferred tax liabilities 837 1,051 Deferred tax asset, net $ 3,289 $ 5,117 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) 2017 2016 2015 Currently payable $ 4,938 $ 5,328 $ 5,097 Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets 63 175 161 Deferred 2,155 (156 ) 79 Total provision $ 7,156 $ 5,347 $ 5,337 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (Amounts in thousands) 2017 2016 2015 Amount % Amount % Amount % Expected provision $ 7,207 35.00 $ 7,388 35.00 $ 7,633 35.00 Tax-exempt interest income (1,817 ) (8.82 ) (1,801 ) (8.53 ) (1,914 ) (8.78 ) Nondeductible interest expense 42 0.20 40 0.19 51 0.23 Dividends received deduction (7 ) (0.03 ) (22 ) (0.10 ) (75 ) (0.34 ) Increase in cash surrender value of life insurance (133 ) (0.65 ) (134 ) (0.63 ) (135 ) (0.62 ) Employee stock option compensation 8 0.04 0 0.00 0 0.00 ESOP Dividends (154 ) (0.75 ) 0 0.00 0 0.00 Tax benefit from limited partnership investment (73 ) (0.35 ) (76 ) (0.36 ) (80 ) (0.37 ) Effect of tax rate change 2,159 10.49 0 0.00 0 0.00 Other, net (76 ) (0.37 ) (48 ) (0.23 ) (143 ) (0.66 ) Effective income tax provision $ 7,156 34.75 $ 5,347 25.33 $ 5,337 24.47 |
Note 15 - Related Party Trans42
Note 15 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | (In Thousands) Beginning New Other Ending Balance Loans Repayments Changes Balance 12 directors, 7 executive officers 2017 $ 11,414 $ 2,128 $ (2,061 ) $ 2,931 $ 14,412 12 directors, 7 executive officers 2016 10,246 307 (1,160 ) 2,021 11,414 11 directors, 7 executive officers 2015 12,023 52 (808 ) (1,021 ) 10,246 |
Note 16 - Off-balance Sheet R43
Note 16 - Off-balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | (In Thousands) 2017 2016 Commitments to extend credit $ 187,919 $ 180,768 Standby letters of credit 7,445 9,025 |
Schedule of Off-Balance Sheet Risks, Expirations [Table Text Block] | Year of Expiration (In Thousands) 2018 $ 7,042 2019 355 2020 48 Total $ 7,445 |
Note 18 - Regulatory Matters (T
Note 18 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollars in Thousands) Minimum To Be Well Actual Minimum Minimum To Maintain Capitalized Under Minimum To Meet Capital Capital Conservation Prompt Corrective the Corporation's Actual Requirement Buffer at Reporting Date Action Provisions Policy Thresholds Amount Ratio Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2017: Total capital to risk-weighted assets: Consolidated $ 187,097 23.07 % $ 64,872 > $ 75,008 > $ 81,090 > $ 85,144 > C&N Bank 165,142 20.47 % 64,528 > 74,611 > 80,661 > 84,694 > Tier 1 capital to risk-weighted assets: Consolidated 177,981 21.95 % 48,654 > 58,790 > 64,872 > 68,926 > C&N Bank 156,026 19.34 % 48,396 > 58,479 > 64,528 > 68,561 > Common equity tier 1 capital to risk-weighted assets: Consolidated 177,981 21.95 % 36,490 > 46,626 > 52,708 > 56,763 > C&N Bank 156,026 19.34 % 36,297 > 46,380 > 52,429 > 56,462 > Tier 1 capital to average assets: Consolidated 177,981 14.23 % 50,023 > N/A N/A 62,529 > 62,529 > C&N Bank 156,026 12.63 % 49,418 > N/A N/A 61,772 > 61,772 > December 31, 2016: Total capital to risk-weighted assets: Consolidated $ 183,597 23.60 % $ 62,245 > $ 67,108 > $ 77,806 > $ 81,697 > C&N Bank 162,705 21.03 % 61,894 > 66,730 > 77,368 > 81,236 > Tier 1 capital to risk-weighted assets: Consolidated 174,928 22.48 % 46,684 > 51,547 > 62,245 > 66,135 > C&N Bank 154,036 19.91 % 46,421 > 51,256 > 61,894 > 65,762 > Common equity tier 1 capital to risk-weighted assets: Consolidated 174,928 22.48 % 35,013 > 39,876 > 50,574 > 54,464 > C&N Bank 154,036 19.91 % 34,815 > 39,651 > 50,289 > 54,157 > Tier 1 capital to average assets: Consolidated 174,928 14.27 % 49,026 > N/A N/A 61,282 > 61,282 > C&N Bank 154,036 12.73 % 48,404 > N/A N/A 60,506 > 60,506 > |
Regulatory Capital Requirements Under Banking Regulations Transition Schedule for New Ratios [Table Text Block] | As of January 1: 2017 2018 2019 Minimum common equity tier 1 capital ratio 4.5 % 4.5 % 4.5 % Common equity tier 1 capital conservation buffer 1.25 % 1.875 % 2.5 % Minimum common equity tier 1 capital ratio plus capital conservation buffer 5.75 % 6.375 % 7.0 % Phase-in of most deductions from common equity tier 1 capital 80 % 100 % 100 % Minimum tier 1 capital ratio 6.0 % 6.0 % 6.0 % Minimum tier 1 capital ratio plus capital conservation buffer 7.25 % 7.875 % 8.5 % Minimum total capital ratio 8.0 % 8.0 % 8.0 % Minimum total capital ratio plus capital conservation buffer 9.25 % 9.875 % 10.5 % |
Regulatory Capital Requirements Payout Restrictions Based on Capital Conservation Buffer [Table Text Block] | Capital Conservation Buffer Maximum Payout (as a % of risk-weighted assets) (as a % of eligible retained income) Greater than 2.5% No payout limitation applies ≤2.5% and >1.875% 60 % ≤1.875% and >1.25% 40 % ≤1.25% and >0.625% 20 % ≤0.625% 0 % |
Note 19 - Parent Company Only (
Note 19 - Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | CONDENSED BALANCE SHEET December 31, (In Thousands) 2017 2016 ASSETS Cash $ 6,790 $ 6,033 Investment in subsidiaries: Citizens & Northern Bank 166,576 165,397 Citizens & Northern Investment Corporation 11,588 11,168 Bucktail Life Insurance Company 3,488 3,419 Other assets 15 4 TOTAL ASSETS $ 188,457 $ 186,021 LIABILITIES AND STOCKHOLDERS' EQUITY Other liabilities $ 14 $ 13 Stockholders' equity 188,443 186,008 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 188,457 $ 186,021 |
Condensed Income Statement [Table Text Block] | CONDENSED INCOME STATEMENT (In Thousands) 2017 2016 2015 Dividends from Citizens & Northern Bank $ 12,022 $ 14,960 $ 11,569 Expenses (233 ) (367 ) (234 ) Income before equity in undistributed income of subsidiaries 11,789 14,593 11,335 Equity in undistributed income of subsidiaries 1,645 1,169 5,136 NET INCOME $ 13,434 $ 15,762 $ 16,471 |
Condensed Cash Flow Statement [Table Text Block] | CONDENSED STATEMENT OF CASH FLOWS (In Thousands) 2017 2016 2015 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 13,434 $ 15,762 $ 16,471 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (1,645 ) (1,169 ) (5,136 ) (Increase) decrease in other assets (11 ) 20 12 Increase (decrease) in other liabilities 1 (6 ) 12 Net Cash Provided by Operating Activities 11,779 14,607 11,359 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from sale of treasury stock 128 263 381 Tax (cost) benefit from compensation plans, net (5 ) 151 143 Purchase of treasury stock 0 (3,723 ) (4,415 ) Dividends paid (11,145 ) (11,112 ) (11,245 ) Net Cash Used in Financing Activities (11,022 ) (14,421 ) (15,136 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 757 186 (3,777 ) CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 6,033 5,847 9,624 CASH AND CASH EQUIVALENTS, END OF YEAR $ 6,790 $ 6,033 $ 5,847 |
Note 20 - Summary of Quarterl46
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2017 Quarter Ended Mar. 31, June 30, Sept. 30, Dec. 31, 2017 2017 2017 2017 Interest income $ 11,112 $ 11,340 $ 11,626 $ 11,785 Interest expense 953 978 985 999 Net interest income 10,159 10,362 10,641 10,786 Provision for loan losses 452 4 322 23 Net interest income after provision for loan losses 9,707 10,358 10,319 10,763 Other income 3,864 4,106 4,066 4,117 Net gains on available-for-sale securities 145 107 5 0 Other expenses 9,298 9,076 9,192 9,401 Income before income tax provision 4,418 5,495 5,198 5,479 Income tax provision 984 1,374 1,262 3,536 Net income $ 3,434 $ 4,121 $ 3,936 $ 1,943 Net income attributable to common shares $ 3,416 $ 4,100 $ 3,916 $ 1,933 Net income per share – basic $ 0.28 $ 0.34 $ 0.32 $ 0.16 Net income per share – diluted $ 0.28 $ 0.34 $ 0.32 $ 0.16 2016 Quarter Ended Mar. 31, June 30, Sept. 30, Dec. 31, 2016 2016 2016 2016 Interest income $ 10,937 $ 10,924 $ 11,131 $ 11,106 Interest expense 904 925 944 920 Net interest income 10,033 9,999 10,187 10,186 Provision (credit) for loan losses 368 318 538 (3 ) Net interest income after provision (credit) for loan losses 9,665 9,681 9,649 10,189 Other income 3,690 3,906 3,884 4,031 Net gains on available-for-sale securities 383 122 584 69 Other expenses 9,072 8,535 8,579 8,558 Income before income tax provision 4,666 5,174 5,538 5,731 Income tax provision 1,093 1,303 1,451 1,500 Net income $ 3,573 $ 3,871 $ 4,087 $ 4,231 Net income attributable to common shares $ 3,553 $ 3,850 $ 4,065 $ 4,209 Net income per share – basic $ 0.29 $ 0.32 $ 0.34 $ 0.35 Net income per share – diluted $ 0.29 $ 0.32 $ 0.34 $ 0.35 |
Note 1 - Nature of Operations47
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Number of Reportable Segments | 1 | |||
Financing Receivable, Allowance for Credit Losses | $ 8,856 | $ 8,473 | $ 7,889 | $ 7,336 |
Loans Receivable Secured by Real Estate Percentage | 53.00% | |||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 0 | |||
Unfunded Loan Commitment [Member] | ||||
Financing Receivable, Allowance for Credit Losses | $ 0 | $ 0 |
Note 3 - Comprehensive Income -
Note 3 - Comprehensive Income - Components of Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Unrealized holding losses on available-for-sale securities | $ (691) | $ (4,138) | $ (1,429) |
Unrealized holding gains (losses) on available-for-sale securities, income tax effect | 242 | 1,448 | (500) |
Unrealized holding (income) losses on available-for-sale securities, net of tax amount | (449) | (2,690) | (929) |
Reclassification adjustment for (gains) realized in income, before tax amount | (257) | (1,158) | (2,861) |
Reclassification adjustment for (gains) realized in income, income tax effect | 89 | 406 | (1,002) |
Reclassification adjustment for (gains) realized in income, net of tax amount | (168) | (752) | (1,859) |
Other comprehensive income (loss) on available-for-sale securities, before tax amount | (948) | (5,296) | (4,290) |
Other comprehensive income (loss) on available-for-sale securities, income tax effect | 331 | 1,854 | (1,502) |
Other comprehensive loss on available-for-sale securities, net of tax amount | (617) | (3,442) | (2,788) |
Changes from plan amendments and actuarial gains and losses included in accumulated other comprehensive gain (loss) | 36 | 46 | (135) |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, income tax effect | (12) | (16) | (47) |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, net of tax amount | 24 | 30 | (88) |
Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost, before tax amount | (24) | (22) | 67 |
Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost, income tax effect | 8 | 8 | (23) |
Amortization of net transition obligation, prior service cost and net actuarial gain included in net periodic benefit cost, net of tax amount | (16) | (14) | 44 |
Other comprehensive (income) loss on unfunded retirement obligations, before tax amount | 12 | 24 | (68) |
Other comprehensive income (loss) on unfunded retirement obligations, income tax effect | (4) | (8) | (24) |
Other comprehensive income (loss) on unfunded retirement obligations, net of tax amount | 8 | 16 | (44) |
Total other comprehensive loss | (936) | (5,272) | (4,358) |
Total other comprehensive income (loss), income tax effect | 327 | 1,846 | (1,526) |
Net other comprehensive loss | (609) | (3,426) | (2,832) |
Other comprehensive income (loss) on available-for-sale securities, income tax effect | (331) | (1,854) | 1,502 |
Unrealized holding gains on available-for-sale securities, income tax effect | (242) | (1,448) | 500 |
Reclassification adjustment for (gains) realized in income, income tax effect | (89) | (406) | 1,002 |
Changes from plan amendments and actuarial gains and losses included in other comprehensive income, income tax effect | 12 | 16 | 47 |
Other comprehensive income (loss) on unfunded retirement obligations, income tax effect | 4 | 8 | 24 |
Total other comprehensive income (loss), income tax effect | $ (327) | $ (1,846) | $ 1,526 |
Note 3 - Comprehensive Income49
Note 3 - Comprehensive Income - Changes in the Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, beginning of period | $ (898) | ||
Balance, end of period | (1,507) | $ (898) | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Balance, beginning of period | (949) | 2,493 | $ 5,281 |
Change during the period | (617) | (3,442) | (2,788) |
Balance, end of period | (1,566) | (949) | 2,493 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Balance, beginning of period | 51 | 35 | 79 |
Change during the period | 8 | 16 | (44) |
Balance, end of period | 59 | 51 | 35 |
AOCI Attributable to Parent [Member] | |||
Balance, beginning of period | (898) | 2,528 | 5,360 |
Change during the period | (609) | (3,426) | (2,832) |
Balance, end of period | $ (1,507) | $ (898) | $ 2,528 |
Note 3 - Comprehensive Income50
Note 3 - Comprehensive Income - Amounts Reclassified Out of Each Component of OCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Unrealized gains and losses on available-for-sale securities | $ (257) | $ (1,158) | $ (2,861) | ||||||||
Income tax provision | 7,156 | 5,347 | 5,337 | ||||||||
Net income | $ (1,943) | $ (3,936) | $ (4,121) | $ (3,434) | $ (4,231) | $ (4,087) | $ (3,871) | $ (3,573) | (13,434) | (15,762) | (16,471) |
Total before tax | $ (5,479) | $ (5,198) | $ (5,495) | $ (4,418) | $ (5,731) | $ (5,538) | $ (5,174) | $ (4,666) | (20,590) | (21,109) | (21,808) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Net income | (184) | (766) | (1,815) | ||||||||
Loss on settlement | (87) | ||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||||||||
Unrealized gains and losses on available-for-sale securities | (257) | (1,158) | (2,861) | ||||||||
Income tax provision | 89 | 406 | 1,002 | ||||||||
Net income | (168) | (752) | (1,859) | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||||||||
Income tax provision | 8 | 8 | (23) | ||||||||
Net income | (16) | (14) | 44 | ||||||||
Amortization of prior service cost | (31) | (31) | (31) | ||||||||
Actuarial loss | 7 | 9 | 11 | ||||||||
Total before tax | $ (24) | $ (22) | $ 67 |
Note 4 - Per Share Data (Detail
Note 4 - Per Share Data (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Weighted Average Number of Shares, Restricted Stock | 62,329 | 65,309 | 62,689 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 31,153 | 61,590 |
Note 4 - Per Share Data - Net I
Note 4 - Per Share Data - Net Income Per Share (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Net income | $ 1,943,000 | $ 3,936,000 | $ 4,121,000 | $ 3,434,000 | $ 4,231,000 | $ 4,087,000 | $ 3,871,000 | $ 3,573,000 | $ 13,434,000 | $ 15,762,000 | $ 16,471,000 | |||
Less: Dividends and undistributed earnings allocated to participating securities | (69,000) | (85,000) | (84,000) | |||||||||||
Net income attributable to common shares | $ 1,933,000 | $ 3,916,000 | $ 4,100,000 | $ 3,416,000 | $ 4,209,000 | $ 4,065,000 | $ 3,850,000 | $ 3,553,000 | $ 13,365,000 | $ 15,677,000 | $ 16,387,000 | |||
Basic weighted-average common shares outstanding (in shares) | 12,115,840 | 12,032,820 | 12,149,252 | |||||||||||
Basic earnings per common share (a) (in dollars per share) | $ 0.16 | $ 0.32 | $ 0.34 | $ 0.28 | $ 0.35 | $ 0.34 | $ 0.32 | $ 0.29 | $ 1.10 | [1] | $ 1.30 | [1] | $ 1.35 | [1] |
Net income attributable to common shares | $ 13,365,000 | $ 15,677,000 | $ 16,387,000 | |||||||||||
Dilutive effect of potential common stock arising from stock options (in shares) | 39,296 | 30,235 | 21,832 | |||||||||||
Diluted weighted-average common shares outstanding (in shares) | 12,155,136 | 12,063,055 | 12,171,084 | |||||||||||
Diluted earnings per common share (a) (in dollars per share) | $ 0.16 | $ 0.32 | $ 0.34 | $ 0.28 | $ 0.35 | $ 0.34 | $ 0.32 | $ 0.29 | $ 1.10 | [1] | $ 1.30 | [1] | $ 1.35 | [1] |
[1] | Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares with nonforfeitable dividends (participating securities). |
Note 5 - Cash and Due From Ba53
Note 5 - Cash and Due From Banks (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Restricted Cash and Cash Equivalents, Current | $ 17,178,000 | $ 16,654,000 |
Note 5 - Cash and Due From Ba54
Note 5 - Cash and Due From Banks - Summary of Cash and Due From Banks (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | $ 37,004 | $ 28,621 |
Certificates of deposit | 3,240 | 3,488 |
Total cash and due from banks | $ 40,244 | $ 32,109 |
Note 6 - Fair Value Measureme55
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Assets Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities, at fair value | $ 356,908 | $ 395,077 |
Unpaid principal - with allowance | 4,100 | 3,372 |
Valuation allowance | (1,279) | (674) |
Impaired loans, net | 4,100 | 3,372 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 7,873 | 9,541 |
Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities, at fair value | 105,111 | 119,037 |
Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities, at fair value | 25,573 | 30,297 |
Residential Pass-Through Securities [Member] | ||
Available-for-sale securities, at fair value | 52,347 | 58,404 |
Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, at fair value | 131,814 | 146,608 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, at fair value | 33,219 | 30,219 |
Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 355,937 | 394,106 |
Equity Securities [Member] | ||
Available-for-sale securities, at fair value | 971 | 971 |
Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities, at fair value | 356,908 | 395,077 |
Servicing rights | 1,299 | 1,262 |
Total asset fair value measurements | 358,207 | 396,339 |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 7,873 | 9,541 |
Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities, at fair value | 105,111 | 119,037 |
Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities, at fair value | 25,573 | 30,297 |
Fair Value, Measurements, Recurring [Member] | Residential Pass-Through Securities [Member] | ||
Available-for-sale securities, at fair value | 52,347 | 58,404 |
Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, at fair value | 131,814 | 146,608 |
Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, at fair value | 33,219 | 30,219 |
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 355,937 | 394,106 |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Available-for-sale securities, at fair value | 971 | 971 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Total asset fair value measurements | 4,191 | 4,878 |
Unpaid principal - with allowance | 3,776 | 3,372 |
Valuation allowance | (1,183) | (674) |
Impaired loans, net | 2,593 | 2,698 |
Foreclosed residential real estate | 1,598 | 2,180 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities, at fair value | 971 | 971 |
Servicing rights | 0 | 0 |
Total asset fair value measurements | 971 | 971 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Pass-Through Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Available-for-sale securities, at fair value | 971 | 971 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Total asset fair value measurements | 0 | 0 |
Unpaid principal - with allowance | 0 | 0 |
Valuation allowance | 0 | 0 |
Impaired loans, net | 0 | 0 |
Foreclosed residential real estate | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities, at fair value | 355,937 | 394,106 |
Servicing rights | 0 | 0 |
Total asset fair value measurements | 355,937 | 394,106 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 7,873 | 9,541 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities, at fair value | 105,111 | 119,037 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities, at fair value | 25,573 | 30,297 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Pass-Through Securities [Member] | ||
Available-for-sale securities, at fair value | 52,347 | 58,404 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, at fair value | 131,814 | 146,608 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, at fair value | 33,219 | 30,219 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 355,937 | 394,106 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Total asset fair value measurements | 0 | 0 |
Unpaid principal - with allowance | 0 | 0 |
Valuation allowance | 0 | 0 |
Impaired loans, net | 0 | 0 |
Foreclosed residential real estate | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Servicing rights | 1,299 | 1,262 |
Total asset fair value measurements | 1,299 | 1,262 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Pass-Through Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Available-for-sale securities, at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Total asset fair value measurements | 4,191 | 4,878 |
Unpaid principal - with allowance | 3,776 | 3,372 |
Valuation allowance | (1,183) | (674) |
Impaired loans, net | 2,593 | 2,698 |
Foreclosed residential real estate | $ 1,598 | $ 2,180 |
Note 6 - Fair Value Measureme56
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Valuation Techniques and the Unobservable Inputs Used in Determining Fair Value - Recurring Basis (Details) - Servicing Rights Assets [Member] - Income Approach Valuation Technique [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair value | $ 1,299,000 | $ 1,262,000 |
Discount rate | 13.00% | 13.00% |
Weighted-average PSA | 140.00% | 138.00% |
Servicing fees of loan balances | 0.25% | 0.25% |
Servicing fees of payments are late | 4.00% | 4.00% |
Late fees assessed | 5.00% | 5.00% |
Miscellaneous fees per account per month | $ 1.94 | $ 1.94 |
Monthly servicing cost per account | 6 | 6 |
Additional monthly servicing cost per loan on loans more than 30 days delinquent | $ 24 | $ 24 |
Servicing costs of loans more than 30 days delinquent | 1.50% | 1.50% |
Annual increase in servicing costs | 3.00% | 3.00% |
Note 6 - Fair Value Measureme57
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Reconciliation of Activity for Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - Servicing Rights Assets [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, beginning of period | $ 1,262 | $ 1,296 | $ 1,281 |
Issuances of servicing rights | 205 | 248 | 177 |
Unrealized losses included in earnings | (168) | (282) | (162) |
Balance, end of period | $ 1,299 | $ 1,262 | $ 1,296 |
Note 6 - Fair Value Measureme58
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Valuation Techniques and the Unobservable Inputs Used in Determining Fair Value - Nonrecurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Recorded investment - with allowance | $ 4,100 | $ 3,372 |
Related allowance | 1,279 | 674 |
Residential Portfolio Segment [Member] | ||
Foreclosed assets held for sale | 721 | 1,102 |
Foreclosed residential real estate | 721 | 1,102 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Recorded investment - with allowance | 2,641 | 2,773 |
Related allowance | 919 | 528 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Recorded investment - with allowance | 449 | 95 |
Related allowance | 188 | 95 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Recorded investment - with allowance | 495 | 504 |
Related allowance | 50 | 51 |
Impaired Loans [Member] | ||
Recorded investment - with allowance | 3,776 | 3,372 |
Related allowance | 1,183 | 674 |
Fair value | $ 2,593 | $ 2,698 |
Discount rate | ||
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | $ 515 | |
Related allowance | 122 | |
Fair value | $ 393 | |
Discount rate | 26.00% | |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | $ 2,641 | $ 2,773 |
Related allowance | 919 | 528 |
Fair value | $ 1,722 | $ 2,245 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 16.00% | 7.00% |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | $ 126 | $ 95 |
Related allowance | 92 | 95 |
Fair value | $ 34 | $ 0 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 72.00% | 100.00% |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Market Approach Valuation Technique [Member] | ||
Recorded investment - with allowance | $ 494 | $ 504 |
Related allowance | 50 | 51 |
Fair value | $ 444 | $ 453 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 53.00% | 55.00% |
Foreclosed Assets Held For Sale [Member] | ||
Fair value | $ 1,598 | $ 2,180 |
Discount rate | ||
Foreclosed assets held for sale | $ 1,598 | 2,180 |
Valuation allowance | 0 | 0 |
Foreclosed residential real estate | 1,598 | 2,180 |
Foreclosed Assets Held For Sale [Member] | Land Receivable [Member] | Market Approach Valuation Technique [Member] | ||
Fair value | 632 | 650 |
Foreclosed assets held for sale | 632 | 650 |
Valuation allowance | 0 | 0 |
Foreclosed residential real estate | $ 632 | $ 650 |
Foreclosed Assets Held For Sale [Member] | Land Receivable [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 35.00% | 33.00% |
Foreclosed Assets Held For Sale [Member] | Commercial Real Estate Receivables [Member] | Market Approach Valuation Technique [Member] | ||
Fair value | $ 245 | $ 428 |
Foreclosed assets held for sale | 245 | 428 |
Valuation allowance | 0 | 0 |
Foreclosed residential real estate | $ 245 | $ 428 |
Foreclosed Assets Held For Sale [Member] | Commercial Real Estate Receivables [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 71.00% | 50.00% |
Foreclosed Assets Held For Sale [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | ||
Fair value | $ 721 | $ 1,102 |
Foreclosed assets held for sale | 721 | 1,102 |
Valuation allowance | 0 | 0 |
Foreclosed residential real estate | $ 721 | $ 1,102 |
Foreclosed Assets Held For Sale [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ||
Discount rate | 37.00% | 35.00% |
Note 6 - Fair Value Measureme59
Note 6 - Fair Value Measurements and Fair Values of Financial Instruments - Estimated Fair Values, and Related Carrying Amounts, of the Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities, at fair value | $ 356,908 | $ 395,077 |
Reported Value Measurement [Member] | ||
Available-for-sale securities, at fair value | 356,908 | 395,077 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 37,004 | 28,621 |
Loans held for sale | 765 | 142 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Certificates of deposit | 3,240 | 3,488 |
Restricted equity securities (included in Other Assets) | 6,556 | 4,426 |
Accrued interest receivable | 4,048 | 3,963 |
Short-term borrowings | 61,766 | 26,175 |
Long-term borrowings | 9,189 | 38,454 |
Accrued interest payable | 46 | 65 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Deposits With No Stated Maturity [Member] | ||
Deposits, fair value | 794,778 | 771,625 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Time Deposits [Member] | ||
Deposits, fair value | 213,671 | 212,218 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 806,857 | 743,362 |
Servicing rights | 1,299 | 1,262 |
Estimate of Fair Value Measurement [Member] | ||
Available-for-sale securities, at fair value | 356,908 | 395,077 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 37,004 | 28,621 |
Loans held for sale | 765 | 142 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Certificates of deposit | 3,234 | 3,481 |
Restricted equity securities (included in Other Assets) | 6,556 | 4,426 |
Accrued interest receivable | 4,048 | 3,963 |
Deposits, fair value | 61,643 | 26,024 |
Long-term borrowings | 9,256 | 39,062 |
Accrued interest payable | 46 | 65 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Deposits With No Stated Maturity [Member] | ||
Deposits, fair value | 794,778 | 771,625 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Time Deposits [Member] | ||
Deposits, fair value | 213,734 | 212,274 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans, net | 789,891 | 725,787 |
Servicing rights | $ 1,299 | $ 1,262 |
Note 7 - Securities (Details Te
Note 7 - Securities (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Available-for-sale Securities Pledged as Collateral | $ 217,925,000 | $ 230,803,000 | |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | 0 | 0 | $ 0 |
Available-for-sale Securities, Gross Realized Gains | 315,000 | 1,392,000 | 2,972,000 |
Other Assets [Member] | Federal Home Loan Bank of Pittsburgh [Member] | |||
Federal Home Loan Bank Stock | $ 6,426,000 | $ 4,296,000 | |
Mutual Fund [Member] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | 1 | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | $ 0 | 0 |
Available-for-sale Equity Securities, Gross Unrealized Loss | 29,000 | ||
Bank Stocks [Member] | |||
Available-for-sale Securities, Gross Realized Gains | 0 | 1,125,000 | $ 2,220,000 |
FHLB Stock [Member] | Federal Home Loan Bank of Pittsburgh [Member] | |||
Other than Temporary Impairment Losses, Investments | $ 0 | $ 0 |
Note 7 - Securities - Available
Note 7 - Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities, amortized cost | $ 359,317 | $ 396,538 |
Available-for-sale securities, gross unrealized holding gains | 2,710 | 3,614 |
Available-for-sale securities, gross unrealized holding losses | (5,119) | (5,075) |
Available-for-sale securities, fair value | 356,908 | 395,077 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 8,026 | 9,671 |
Available-for-sale securities, gross unrealized holding gains | 0 | 5 |
Available-for-sale securities, gross unrealized holding losses | (153) | (135) |
Available-for-sale securities, fair value | 7,873 | 9,541 |
Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities, amortized cost | 103,673 | 118,140 |
Available-for-sale securities, gross unrealized holding gains | 2,291 | 2,592 |
Available-for-sale securities, gross unrealized holding losses | (853) | (1,695) |
Available-for-sale securities, fair value | 105,111 | 119,037 |
Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities, amortized cost | 25,431 | 30,073 |
Available-for-sale securities, gross unrealized holding gains | 226 | 303 |
Available-for-sale securities, gross unrealized holding losses | (84) | (79) |
Available-for-sale securities, fair value | 25,573 | 30,297 |
Residential Pass-Through Securities [Member] | ||
Available-for-sale securities, amortized cost | 52,992 | 58,922 |
Available-for-sale securities, gross unrealized holding gains | 79 | 306 |
Available-for-sale securities, gross unrealized holding losses | (724) | (824) |
Available-for-sale securities, fair value | 52,347 | 58,404 |
Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, amortized cost | 134,314 | 147,915 |
Available-for-sale securities, gross unrealized holding gains | 110 | 408 |
Available-for-sale securities, gross unrealized holding losses | (2,610) | (1,715) |
Available-for-sale securities, fair value | 131,814 | 146,608 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities, amortized cost | 33,881 | 30,817 |
Available-for-sale securities, gross unrealized holding gains | 4 | 0 |
Available-for-sale securities, gross unrealized holding losses | (666) | (598) |
Available-for-sale securities, fair value | 33,219 | 30,219 |
Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 358,317 | 395,538 |
Available-for-sale securities, gross unrealized holding gains | 2,710 | 3,614 |
Available-for-sale securities, gross unrealized holding losses | (5,090) | (5,046) |
Available-for-sale securities, fair value | 355,937 | 394,106 |
Equity Securities [Member] | ||
Available-for-sale securities, amortized cost | 1,000 | 1,000 |
Available-for-sale securities, gross unrealized holding gains | 0 | 0 |
Available-for-sale securities, gross unrealized holding losses | (29) | (29) |
Available-for-sale securities, fair value | $ 971 | $ 971 |
Note 7 - Securities - Availab62
Note 7 - Securities - Available-for-sale Securities With Unrealized Loss Positions (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | $ 119,109 | $ 237,063 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (1,184) | (4,465) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 141,027 | 17,351 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (3,935) | (610) |
Available-for-sale securities with unrealized loss positions, fair value | 260,136 | 254,414 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (5,119) | (5,075) |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 0 | 7,899 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | 0 | (135) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 7,873 | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (153) | 0 |
Available-for-sale securities with unrealized loss positions, fair value | 7,873 | 7,899 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (153) | (135) |
Obligations of States and Political Subdivisions Tax Exempt [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 19,050 | 54,479 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (135) | (1,676) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 24,391 | 1,278 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (718) | (19) |
Available-for-sale securities with unrealized loss positions, fair value | 43,441 | 55,757 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (853) | (1,695) |
Obligations of States and Political Subdivisions Taxable [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 9,279 | 9,594 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (45) | (79) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 2,116 | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (39) | 0 |
Available-for-sale securities with unrealized loss positions, fair value | 11,395 | 9,594 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (84) | (79) |
Residential Pass-Through Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 25,255 | 48,674 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (242) | (824) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 22,549 | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (482) | 0 |
Available-for-sale securities with unrealized loss positions, fair value | 47,804 | 48,674 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (724) | (824) |
Residential Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 50,812 | 85,198 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (589) | (1,124) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 68,558 | 16,073 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (2,021) | (591) |
Available-for-sale securities with unrealized loss positions, fair value | 119,370 | 101,271 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (2,610) | (1,715) |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 14,713 | 30,219 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (173) | (598) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 14,569 | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (493) | 0 |
Available-for-sale securities with unrealized loss positions, fair value | 29,282 | 30,219 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (666) | (598) |
Debt Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 119,109 | 236,063 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | (1,184) | (4,436) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 140,056 | 17,351 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (3,906) | (610) |
Available-for-sale securities with unrealized loss positions, fair value | 259,165 | 253,414 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | (5,090) | (5,046) |
Equity Securities [Member] | ||
Available-for-sale securities with unrealized loss positions, less than 12 months, fair value | 0 | 1,000 |
Available-for-sale securities with unrealized loss positions, less than 12 months, unrealized losses | 0 | (29) |
Available-for-sale securities with unrealized loss positions, 12 months or more, fair value | 971 | 0 |
Available-for-sale securities with unrealized loss positions, 12 months or more, unrealized losses | (29) | 0 |
Available-for-sale securities with unrealized loss positions, fair value | 971 | 1,000 |
Available-for-sale securities, with unrealized loss positions, unrealized losses | $ (29) | $ (29) |
Note 7 - Securities - Gross Rea
Note 7 - Securities - Gross Realized Gains and Losses From Available-for-sale Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Gross realized gains from sales | $ 315 | $ 1,392 | $ 2,972 | ||||||||
Gross realized losses from sales | (58) | (234) | (111) | ||||||||
Net realized gains | $ 0 | $ 5 | $ 107 | $ 145 | $ 69 | $ 584 | $ 122 | $ 383 | 257 | 1,158 | 2,861 |
Income tax provision related to net realized gains | $ 89 | $ 406 | $ 1,002 |
Note 7 - Securities - Availab64
Note 7 - Securities - Available-for-sale Debt Securities by Contractual Maturity (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Due in one year or less, amortized cost | $ 11,350 |
Due in one year or less, fair value | 11,347 |
Due from one year through five years. amortized cost | 69,274 |
Due from one year through five years, fair value | 70,016 |
Due from five years through ten years, amortized cost | 37,086 |
Due from five years through ten years, fair value | 37,089 |
Due after ten years, amortized cost | 19,420 |
Due after ten years, fair value | 20,105 |
Sub-total, amortized cost | 137,130 |
Sub-total, fair value | 138,557 |
Total, amortized cost | 358,317 |
Total, fair value | 355,937 |
Residential Pass-Through Securities [Member] | |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, amortized cost | 52,992 |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, fair value | 52,347 |
Residential Collateralized Mortgage Obligations [Member] | |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, amortized cost | 134,314 |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, fair value | 131,814 |
Commercial Mortgage-backed Securities [Member] | |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, amortized cost | 33,881 |
Mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored agencies, fair value | $ 33,219 |
Note 8 - Loans (Details Textual
Note 8 - Loans (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 5 | 4 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 5 | 1 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 0 | |
Maximum [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable Individually Evaluated for Impairment Threshold With Estimated Loss | $ 200,000 | ||
Maximum [Member] | Residential Portfolio Segment [Member] | |||
Financing Receivable Individually Evaluated for Impairment Threshold With Estimated Loss | 400,000 | ||
Maximum [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable Individually Evaluated for Impairment Threshold With Estimated Loss | 400,000 | ||
Minimum [Member] | |||
Financing Receivable Individually Evaluated for Impairment Estimated Loss Trigger | $ 100,000 | ||
Loans Receivable 1 [Member] | Credit Availability Concentration Risk [Member] | |||
Concentration Risk, Percentage | 0.00% |
Note 8 - Loans - Loans Receivab
Note 8 - Loans - Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans receivable | $ 815,713 | $ 751,835 |
Less: allowance for loan losses | (8,856) | (8,473) |
Loans, net | 806,857 | 743,362 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 447,286 | 420,773 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 359,987 | 334,102 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 25,325 | 23,706 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 35,758 | 38,057 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 26,216 | 24,908 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 353,488 | 317,340 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 159,266 | 150,468 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 14,527 | 14,287 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 88,276 | 83,854 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 59,287 | 38,068 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 7,255 | 7,294 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 7,713 | 7,896 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 6,178 | 3,998 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 10,986 | 11,475 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | $ 14,939 | $ 13,722 |
Note 8 - Loans - Allowance for
Note 8 - Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Allowance for loan losses | $ 8,473 | $ 7,889 | $ 8,473 | $ 7,889 | $ 7,336 | ||||||
Allowance for loan losses, charge-offs | (479) | (757) | (562) | ||||||||
Allowance for loan losses, recoveries | 61 | 120 | 270 | ||||||||
Allowance for loan losses, provision | $ 23 | $ 322 | $ 4 | 452 | $ (3) | $ 538 | $ 318 | 368 | 801 | 1,221 | 845 |
Allowance for loan losses | 8,856 | 8,473 | 8,856 | 8,473 | 7,889 | ||||||
Residential Portfolio Segment [Member] | |||||||||||
Allowance for loan losses | 3,890 | 3,418 | 3,890 | 3,418 | 3,653 | ||||||
Allowance for loan losses, charge-offs | (197) | (73) | (217) | ||||||||
Allowance for loan losses, recoveries | 19 | 3 | 1 | ||||||||
Allowance for loan losses, provision | 251 | 542 | (19) | ||||||||
Allowance for loan losses | 3,963 | 3,890 | 3,963 | 3,890 | 3,418 | ||||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | |||||||||||
Allowance for loan losses | 3,033 | 2,645 | 3,033 | 2,645 | 2,941 | ||||||
Allowance for loan losses, charge-offs | (167) | (73) | (175) | ||||||||
Allowance for loan losses, recoveries | 15 | 3 | 1 | ||||||||
Allowance for loan losses, provision | 319 | 458 | (122) | ||||||||
Allowance for loan losses | 3,200 | 3,033 | 3,200 | 3,033 | 2,645 | ||||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | |||||||||||
Allowance for loan losses | 258 | 219 | 258 | 219 | 176 | ||||||
Allowance for loan losses, charge-offs | (16) | 0 | (42) | ||||||||
Allowance for loan losses, recoveries | 4 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (22) | 39 | 85 | ||||||||
Allowance for loan losses | 224 | 258 | 224 | 258 | 219 | ||||||
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | |||||||||||
Allowance for loan losses | 350 | 347 | 350 | 347 | 322 | ||||||
Allowance for loan losses, charge-offs | (14) | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (40) | 3 | 25 | ||||||||
Allowance for loan losses | 296 | 350 | 296 | 350 | 347 | ||||||
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||
Allowance for loan losses | 249 | 207 | 249 | 207 | 214 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (6) | 42 | (7) | ||||||||
Allowance for loan losses | 243 | 249 | 243 | 249 | 207 | ||||||
Commercial Portfolio Segment [Member] | |||||||||||
Allowance for loan losses | 4,047 | 3,922 | 4,047 | 3,922 | 3,143 | ||||||
Allowance for loan losses, charge-offs | (132) | (597) | (251) | ||||||||
Allowance for loan losses, recoveries | 4 | 35 | 214 | ||||||||
Allowance for loan losses, provision | 316 | 687 | 816 | ||||||||
Allowance for loan losses | 4,235 | 4,047 | 4,235 | 4,047 | 3,922 | ||||||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||||||||||
Allowance for loan losses | 2,380 | 1,939 | 2,380 | 1,939 | 1,758 | ||||||
Allowance for loan losses, charge-offs | (96) | 0 | (115) | ||||||||
Allowance for loan losses, recoveries | 0 | 2 | 208 | ||||||||
Allowance for loan losses, provision | 300 | 439 | 88 | ||||||||
Allowance for loan losses | 2,584 | 2,380 | 2,584 | 2,380 | 1,939 | ||||||
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||
Allowance for loan losses | 162 | 58 | 162 | 58 | 283 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | (115) | ||||||||
Allowance for loan losses, recoveries | 0 | 30 | 0 | ||||||||
Allowance for loan losses, provision | (12) | 74 | (110) | ||||||||
Allowance for loan losses | 150 | 162 | 150 | 162 | 58 | ||||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||||||||
Allowance for loan losses | 999 | 981 | 999 | 981 | 688 | ||||||
Allowance for loan losses, charge-offs | (36) | (2) | (21) | ||||||||
Allowance for loan losses, recoveries | 4 | 3 | 6 | ||||||||
Allowance for loan losses, provision | 98 | 17 | 308 | ||||||||
Allowance for loan losses | 1,065 | 999 | 1,065 | 999 | 981 | ||||||
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | |||||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | |||||||||
Allowance for loan losses, recoveries | 0 | 0 | |||||||||
Allowance for loan losses, provision | 0 | 0 | |||||||||
Allowance for loan losses | 0 | 0 | 0 | 0 | 0 | ||||||
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | |||||||||||
Allowance for loan losses | 110 | 106 | 110 | 106 | 165 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (5) | 4 | (59) | ||||||||
Allowance for loan losses | 105 | 110 | 105 | 110 | 106 | ||||||
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | |||||||||||
Allowance for loan losses | 241 | 675 | 241 | 675 | 87 | ||||||
Allowance for loan losses, charge-offs | 0 | (595) | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (69) | 161 | 588 | ||||||||
Allowance for loan losses | 172 | 241 | 172 | 241 | 675 | ||||||
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||||||||||
Allowance for loan losses | 40 | 45 | 40 | 45 | 31 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | 17 | (5) | 14 | ||||||||
Allowance for loan losses | 57 | 40 | 57 | 40 | 45 | ||||||
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | |||||||||||
Allowance for loan losses | 115 | 118 | 115 | 118 | 131 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | (13) | (3) | (13) | ||||||||
Allowance for loan losses | 102 | 115 | 102 | 115 | 118 | ||||||
Consumer Portfolio Segment [Member] | |||||||||||
Allowance for loan losses | 138 | 122 | 138 | 122 | 145 | ||||||
Allowance for loan losses, charge-offs | (150) | (87) | (94) | ||||||||
Allowance for loan losses, recoveries | 38 | 82 | 55 | ||||||||
Allowance for loan losses, provision | 133 | 21 | 16 | ||||||||
Allowance for loan losses | 159 | 138 | 159 | 138 | 122 | ||||||
Unallocated Financing Receivables [Member] | |||||||||||
Allowance for loan losses | $ 398 | $ 427 | 398 | 427 | 395 | ||||||
Allowance for loan losses, charge-offs | 0 | 0 | 0 | ||||||||
Allowance for loan losses, recoveries | 0 | 0 | 0 | ||||||||
Allowance for loan losses, provision | 101 | (29) | 32 | ||||||||
Allowance for loan losses | $ 499 | $ 398 | $ 499 | $ 398 | $ 427 |
Note 8 - Loans - Outstanding Lo
Note 8 - Loans - Outstanding Loans by Risk Rating (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans receivable | $ 815,713 | $ 751,835 |
Residential Portfolio Segment [Member] | ||
Loans receivable | 447,286 | 420,773 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 359,987 | 334,102 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 25,325 | 23,706 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 35,758 | 38,057 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 26,216 | 24,908 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 353,488 | 317,340 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 159,266 | 150,468 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 14,527 | 14,287 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 88,276 | 83,854 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 59,287 | 38,068 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 7,255 | 7,294 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 7,713 | 7,896 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 6,178 | 3,998 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 10,986 | 11,475 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 14,939 | 13,722 |
Pass [Member] | ||
Loans receivable | 787,501 | 721,772 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 436,853 | 409,831 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 350,609 | 324,377 |
Pass [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 24,795 | 23,274 |
Pass [Member] | Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 35,233 | 37,360 |
Pass [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 26,216 | 24,820 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 335,795 | 298,395 |
Pass [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 150,806 | 139,358 |
Pass [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 14,449 | 14,136 |
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 82,724 | 79,202 |
Pass [Member] | Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 59,287 | 38,068 |
Pass [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 5,283 | 5,745 |
Pass [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 7,130 | 7,277 |
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 5,203 | 3,208 |
Pass [Member] | Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 10,913 | 11,401 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 14,853 | 13,546 |
Special Mention [Member] | ||
Loans receivable | 6,155 | 8,134 |
Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 472 | 663 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 307 | 408 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 104 | 132 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 61 | 123 |
Special Mention [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 5,683 | 7,471 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 936 | 3,092 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 0 | 70 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 3,896 | 4,180 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 581 | 129 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 270 | 0 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | ||
Loans receivable | 21,982 | 21,843 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 9,909 | 10,220 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 9,019 | 9,258 |
Substandard [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 426 | 300 |
Substandard [Member] | Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 464 | 574 |
Substandard [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 0 | 88 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 11,987 | 11,447 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 7,524 | 8,018 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 78 | 81 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 1,645 | 461 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 1,379 | 1,404 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 583 | 619 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 705 | 790 |
Substandard [Member] | Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 73 | 74 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | 86 | 176 |
Doubtful [Member] | ||
Loans receivable | 75 | 86 |
Doubtful [Member] | Residential Portfolio Segment [Member] | ||
Loans receivable | 52 | 59 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans receivable | 52 | 59 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans receivable | 23 | 27 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans receivable | 11 | 11 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans receivable | 12 | 16 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans receivable | $ 0 | $ 0 |
Note 8 - Loans - Loan Balances
Note 8 - Loans - Loan Balances and Allowance for Loan Losses for Each Impairment Method (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans receivable: individually evaluated | $ 9,511 | $ 10,860 | ||
Loans receivable: collectively evaluated | 806,202 | 740,975 | ||
Loans receivable | 815,713 | 751,835 | ||
Allowance for loan losses: individually evaluated | 1,279 | 674 | ||
Allowance for loan losses: collectively evaluated | 7,078 | 7,401 | ||
Allowance for loan losses | 8,856 | 8,473 | $ 7,889 | $ 7,336 |
Residential Portfolio Segment [Member] | ||||
Loans receivable: individually evaluated | 1,286 | 821 | ||
Loans receivable: collectively evaluated | 446,000 | 419,952 | ||
Loans receivable | 447,286 | 420,773 | ||
Allowance for loan losses: individually evaluated | 122 | 0 | ||
Allowance for loan losses: collectively evaluated | 3,841 | 3,890 | ||
Allowance for loan losses | 3,963 | 3,890 | 3,418 | 3,653 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||||
Loans receivable: individually evaluated | 984 | 753 | ||
Loans receivable: collectively evaluated | 359,003 | 333,349 | ||
Loans receivable | 359,987 | 334,102 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 3,200 | 3,033 | ||
Allowance for loan losses | 3,200 | 3,033 | 2,645 | 2,941 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||||
Loans receivable: individually evaluated | 302 | 68 | ||
Loans receivable: collectively evaluated | 25,023 | 23,638 | ||
Loans receivable | 25,325 | 23,706 | ||
Allowance for loan losses: individually evaluated | 122 | 0 | ||
Allowance for loan losses: collectively evaluated | 102 | 258 | ||
Allowance for loan losses | 224 | 258 | 219 | 176 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 35,758 | 38,057 | ||
Loans receivable | 35,758 | 38,057 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 296 | 350 | ||
Allowance for loan losses | 296 | 350 | 347 | 322 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 26,216 | 24,908 | ||
Loans receivable | 26,216 | 24,908 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 243 | 249 | ||
Allowance for loan losses | 243 | 249 | 207 | 214 |
Commercial Portfolio Segment [Member] | ||||
Loans receivable: individually evaluated | 8,205 | 10,016 | ||
Loans receivable: collectively evaluated | 345,283 | 307,324 | ||
Loans receivable | 353,488 | 317,340 | ||
Allowance for loan losses: individually evaluated | 1,157 | 674 | ||
Allowance for loan losses: collectively evaluated | 3,078 | 3,373 | ||
Allowance for loan losses | 4,235 | 4,047 | 3,922 | 3,143 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||||
Loans receivable: individually evaluated | 5,873 | 8,005 | ||
Loans receivable: collectively evaluated | 153,393 | 142,463 | ||
Loans receivable | 159,266 | 150,468 | ||
Allowance for loan losses: individually evaluated | 919 | 528 | ||
Allowance for loan losses: collectively evaluated | 1,665 | 1,852 | ||
Allowance for loan losses | 2,584 | 2,380 | 1,939 | 1,758 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 14,527 | 14,287 | ||
Loans receivable | 14,527 | 14,287 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 150 | 162 | ||
Allowance for loan losses | 150 | 162 | 58 | 283 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Loans receivable: individually evaluated | 568 | 212 | ||
Loans receivable: collectively evaluated | 87,708 | 83,642 | ||
Loans receivable | 88,276 | 83,854 | ||
Allowance for loan losses: individually evaluated | 188 | 95 | ||
Allowance for loan losses: collectively evaluated | 877 | 904 | ||
Allowance for loan losses | 1,065 | 999 | 981 | 688 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 59,287 | 38,068 | ||
Loans receivable | 59,287 | 38,068 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 0 | 0 | ||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||||
Loans receivable: individually evaluated | 1,365 | 1,394 | ||
Loans receivable: collectively evaluated | 5,890 | 5,900 | ||
Loans receivable | 7,255 | 7,294 | ||
Allowance for loan losses: individually evaluated | 50 | 51 | ||
Allowance for loan losses: collectively evaluated | 55 | 59 | ||
Allowance for loan losses | 105 | 110 | 106 | 165 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||||
Loans receivable: individually evaluated | 392 | 392 | ||
Loans receivable: collectively evaluated | 7,321 | 7,504 | ||
Loans receivable | 7,713 | 7,896 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 172 | 241 | ||
Allowance for loan losses | 172 | 241 | 675 | 87 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||||
Loans receivable: individually evaluated | 7 | 13 | ||
Loans receivable: collectively evaluated | 6,171 | 3,985 | ||
Loans receivable | 6,178 | 3,998 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 57 | 40 | ||
Allowance for loan losses | 57 | 40 | 45 | 31 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||||
Loans receivable: individually evaluated | 0 | 0 | ||
Loans receivable: collectively evaluated | 10,986 | 11,475 | ||
Loans receivable | 10,986 | 11,475 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 102 | 115 | ||
Allowance for loan losses | 102 | 115 | 118 | 131 |
Consumer Portfolio Segment [Member] | ||||
Loans receivable: individually evaluated | 20 | 23 | ||
Loans receivable: collectively evaluated | 14,919 | 13,699 | ||
Loans receivable | 14,939 | 13,722 | ||
Allowance for loan losses: individually evaluated | 0 | 0 | ||
Allowance for loan losses: collectively evaluated | 159 | 138 | ||
Allowance for loan losses | 159 | 138 | 122 | 145 |
Unallocated Financing Receivables [Member] | ||||
Allowance for loan losses | $ 499 | $ 398 | $ 427 | $ 395 |
Note 8 - Loans - Impaired Loans
Note 8 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Unpaid principal - with no allowance | $ 6,035 | $ 9,856 |
Recorded investment - with no allowance | 5,411 | 7,488 |
Unpaid principal - with allowance | 4,100 | 3,372 |
Recorded investment - with allowance | 4,100 | 3,372 |
Related allowance | 1,279 | 674 |
Unpaid principal | 10,135 | 13,228 |
Recorded investment | 9,511 | 10,860 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Unpaid principal - with no allowance | 740 | 783 |
Recorded investment - with no allowance | 711 | 753 |
Unpaid principal - with allowance | 273 | 0 |
Recorded investment - with allowance | 273 | 0 |
Related allowance | 0 | 0 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Unpaid principal - with no allowance | 60 | 68 |
Recorded investment - with no allowance | 60 | 68 |
Unpaid principal - with allowance | 242 | 0 |
Recorded investment - with allowance | 242 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Unpaid principal - with no allowance | 3,230 | 6,975 |
Recorded investment - with no allowance | 3,230 | 5,232 |
Unpaid principal - with allowance | 2,641 | 2,773 |
Recorded investment - with allowance | 2,641 | 2,773 |
Related allowance | 919 | 528 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Unpaid principal - with no allowance | 119 | 117 |
Recorded investment - with no allowance | 119 | 117 |
Unpaid principal - with allowance | 449 | 95 |
Recorded investment - with allowance | 449 | 95 |
Related allowance | 188 | 95 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Unpaid principal - with no allowance | 871 | 890 |
Recorded investment - with no allowance | 871 | 890 |
Unpaid principal - with allowance | 495 | 504 |
Recorded investment - with allowance | 495 | 504 |
Related allowance | 50 | 51 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Unpaid principal - with no allowance | 987 | 987 |
Recorded investment - with no allowance | 392 | 392 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Unpaid principal - with no allowance | 8 | 13 |
Recorded investment - with no allowance | 8 | 13 |
Consumer Portfolio Segment [Member] | ||
Unpaid principal - with no allowance | 20 | 23 |
Recorded investment - with no allowance | $ 20 | $ 23 |
Note 8 - Loans - Average Balanc
Note 8 - Loans - Average Balance of Impaired Loans and Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Average investment in impaired loans | $ 9,349 | $ 10,185 | $ 11,375 |
Interest income recognized on impaired loans on a cash basis | 311 | 657 | 596 |
Residential Portfolio Segment [Member] | |||
Average investment in impaired loans | 969 | 877 | 2,270 |
Interest income recognized on impaired loans on a cash basis | 67 | 46 | 90 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | |||
Average investment in impaired loans | 857 | 806 | 2,206 |
Interest income recognized on impaired loans on a cash basis | 52 | 43 | 86 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | |||
Average investment in impaired loans | 112 | 71 | 64 |
Interest income recognized on impaired loans on a cash basis | 15 | 3 | 4 |
Commercial Portfolio Segment [Member] | |||
Average investment in impaired loans | 8,354 | 9,287 | 9,105 |
Interest income recognized on impaired loans on a cash basis | 243 | 610 | 506 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |||
Average investment in impaired loans | 6,272 | 6,806 | 6,357 |
Interest income recognized on impaired loans on a cash basis | 173 | 495 | 380 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Average investment in impaired loans | 301 | 547 | 438 |
Interest income recognized on impaired loans on a cash basis | 24 | 20 | 20 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |||
Average investment in impaired loans | 0 | 0 | 40 |
Interest income recognized on impaired loans on a cash basis | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | |||
Average investment in impaired loans | 1,379 | 1,409 | 1,459 |
Interest income recognized on impaired loans on a cash basis | 45 | 94 | 103 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | |||
Average investment in impaired loans | 392 | 511 | 790 |
Interest income recognized on impaired loans on a cash basis | 0 | 0 | 0 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Average investment in impaired loans | 10 | 14 | 21 |
Interest income recognized on impaired loans on a cash basis | 1 | 1 | 3 |
Consumer Portfolio Segment [Member] | |||
Average investment in impaired loans | 26 | 21 | 0 |
Interest income recognized on impaired loans on a cash basis | $ 1 | $ 1 | $ 0 |
Note 8 - Loans - Nonaccrual Loa
Note 8 - Loans - Nonaccrual Loans and Loans Past Due Ninety Days or More and Still Accruing (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans past due 90+ days and accruing | $ 3,724 | $ 6,838 |
Nonaccrual loans | 13,404 | 8,736 |
Residential Portfolio Segment [Member] | ||
Loans past due 90+ days and accruing | 2,648 | 3,456 |
Nonaccrual loans | 5,417 | 3,781 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans past due 90+ days and accruing | 2,340 | 3,022 |
Nonaccrual loans | 5,131 | 3,770 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans past due 90+ days and accruing | 105 | 114 |
Nonaccrual loans | 242 | 0 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans past due 90+ days and accruing | 203 | 320 |
Nonaccrual loans | 44 | 11 |
Commercial Portfolio Segment [Member] | ||
Loans past due 90+ days and accruing | 1,075 | 3,279 |
Nonaccrual loans | 7,921 | 4,935 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans past due 90+ days and accruing | 175 | 2,774 |
Nonaccrual loans | 5,645 | 3,080 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans past due 90+ days and accruing | 603 | 286 |
Nonaccrual loans | 517 | 119 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans past due 90+ days and accruing | 26 | 0 |
Nonaccrual loans | 52 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans past due 90+ days and accruing | 271 | 219 |
Nonaccrual loans | 1,308 | 1,331 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 392 | 392 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans past due 90+ days and accruing | 0 | 0 |
Nonaccrual loans | 7 | 13 |
Consumer Portfolio Segment [Member] | ||
Loans past due 90+ days and accruing | 1 | 103 |
Nonaccrual loans | $ 66 | $ 20 |
Note 8 - Loans - Contractual Ag
Note 8 - Loans - Contractual Aging of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans current and past due less than 30 days | $ 794,938 | $ 732,725 |
Loans receivable | 815,713 | 751,835 |
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 10,190 | 8,154 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 10,585 | 10,956 |
Residential Portfolio Segment [Member] | ||
Loans current and past due less than 30 days | 432,621 | 407,108 |
Loans receivable | 447,286 | 420,773 |
Residential Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 9,335 | 7,494 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 5,330 | 6,171 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | ||
Loans current and past due less than 30 days | 347,032 | 321,670 |
Loans receivable | 359,987 | 334,102 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 7,967 | 6,695 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 4,988 | 5,737 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | ||
Loans current and past due less than 30 days | 25,133 | 23,268 |
Loans receivable | 25,325 | 23,706 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 87 | 324 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 105 | 114 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | ||
Loans current and past due less than 30 days | 34,789 | 37,603 |
Loans receivable | 35,758 | 38,057 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 732 | 134 |
Residential Portfolio Segment [Member] | Home Equity Line of Credit 1 [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 237 | 320 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans current and past due less than 30 days | 25,667 | 24,567 |
Loans receivable | 26,216 | 24,908 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 549 | 341 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans current and past due less than 30 days | 347,557 | 312,171 |
Loans receivable | 353,488 | 317,340 |
Commercial Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 732 | 507 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 5,199 | 4,662 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Loans current and past due less than 30 days | 155,917 | 147,464 |
Loans receivable | 159,266 | 150,468 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 311 | 82 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 3,038 | 2,922 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans current and past due less than 30 days | 14,400 | 14,199 |
Loans receivable | 14,527 | 14,287 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 49 | 88 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 78 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans current and past due less than 30 days | 87,306 | 83,364 |
Loans receivable | 88,276 | 83,854 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 303 | 185 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 667 | 305 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | ||
Loans current and past due less than 30 days | 59,287 | 38,068 |
Loans receivable | 59,287 | 38,068 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Political Subdivisions [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | ||
Loans current and past due less than 30 days | 6,226 | 6,181 |
Loans receivable | 7,255 | 7,294 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 12 | 83 |
Commercial Portfolio Segment [Member] | Loans Secured by Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 1,017 | 1,030 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | ||
Loans current and past due less than 30 days | 7,321 | 7,439 |
Loans receivable | 7,713 | 7,896 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 65 |
Commercial Portfolio Segment [Member] | Multifamily 5 or More Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 392 | 392 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans current and past due less than 30 days | 6,114 | 3,981 |
Loans receivable | 6,178 | 3,998 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 57 | 4 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 7 | 13 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans current and past due less than 30 days | 10,986 | 11,475 |
Loans receivable | 10,986 | 11,475 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans current and past due less than 30 days | 14,760 | 13,446 |
Loans receivable | 14,939 | 13,722 |
Consumer Portfolio Segment [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 123 | 153 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | $ 56 | $ 123 |
Note 8 - Loans - Contractual 74
Note 8 - Loans - Contractual Aging of Nonaccrual Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Nonaccrual loans | $ 13,404 | $ 8,736 |
Non accrual Loans [Member] | ||
Loans current and past due, nonaccrual | 5,802 | 4,199 |
Nonaccrual loans | 13,404 | 8,736 |
Non accrual Loans [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Nonaccrual loans | 741 | 419 |
Non accrual Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Nonaccrual loans | $ 6,861 | $ 4,118 |
Note 8 - Loans - Aging of Troub
Note 8 - Loans - Aging of Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans current and past due less than 30 days | $ 794,938 | $ 732,725 |
Nonaccrual loans | 13,404 | 8,736 |
Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 10,190 | 8,154 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | 10,585 | 10,956 |
Troubled Debt Restructuring [Member] | ||
Loans current and past due less than 30 days | 636 | 5,453 |
Nonaccrual loans | 3,027 | 2,874 |
Troubled debt restructurings | 3,663 | 8,677 |
Troubled Debt Restructuring [Member] | Financing Receivables 30 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 350 |
Troubled Debt Restructuring [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | $ 0 | $ 0 |
Note 8 - Loans - Troubled Debt
Note 8 - Loans - Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Troubled debt restructurings, number of contracts | 0 | 5 | 4 |
Troubled debt restructurings, post-modification recorded investment | $ 2,899 | $ 360 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Extended Maturity and Contractual Interest Rate Reduction [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 1 | |
Troubled debt restructurings, post-modification recorded investment | $ 71 | $ 56 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Extended Maturity with Reduced Monthly Payments [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 0 | |
Troubled debt restructurings, post-modification recorded investment | $ 26 | $ 0 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Monthly Payment Reduction for 6 Months [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 1 | |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 242 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | Interest Payments Only for 1 Year [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 0 | |
Troubled debt restructurings, post-modification recorded investment | $ 2,773 | $ 0 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | Interest Rate and Monthly Payment Reduction [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 1 | |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 32 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Extended Maturity [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 0 | |
Troubled debt restructurings, post-modification recorded investment | $ 5 | $ 0 | |
Consumer Portfolio Segment [Member] | Interest Rate and Monthly Payment Reduction [Member] | |||
Troubled debt restructurings, number of contracts | 0 | 1 | |
Troubled debt restructurings, post-modification recorded investment | $ 0 | $ 30 | |
Consumer Portfolio Segment [Member] | New Unsecured Loan after Short-fall from Sale of Property [Member] | |||
Troubled debt restructurings, number of contracts | 1 | 0 | |
Troubled debt restructurings, post-modification recorded investment | $ 24 | $ 0 |
Note 8 - Loans - Defaults on Lo
Note 8 - Loans - Defaults on Loans with Previous Modifications (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Troubled debt restructuring defaults, number of contracts | 0 | 5 | 1 |
Troubled debt restructuring defaults, recorded investment | $ 355 | $ 32 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Senior Lien [Member] | |||
Troubled debt restructuring defaults, number of contracts | 2 | 1 | |
Troubled debt restructuring defaults, recorded investment | $ 294 | $ 32 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | Junior Lien [Member] | |||
Troubled debt restructuring defaults, number of contracts | 1 | 0 | |
Troubled debt restructuring defaults, recorded investment | $ 29 | $ 0 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Troubled debt restructuring defaults, number of contracts | 1 | 0 | |
Troubled debt restructuring defaults, recorded investment | $ 5 | $ 0 | |
Consumer Portfolio Segment [Member] | |||
Troubled debt restructuring defaults, number of contracts | 1 | 0 | |
Troubled debt restructuring defaults, recorded investment | $ 27 | $ 0 |
Note 8 - Loans - Foreclosed Res
Note 8 - Loans - Foreclosed Residential Real Estate (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Residential Portfolio Segment [Member] | ||
Foreclosed residential real estate | $ 721 | $ 1,102 |
Note 8 - Loans - Mortgage Loans
Note 8 - Loans - Mortgage Loans in Process of Foreclosure (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Residential Portfolio Segment [Member] | ||
Residential real estate in process of foreclosure | $ 1,789 | $ 2,738 |
Note 9 - Bank Premises and Eq80
Note 9 - Bank Premises and Equipment - Summary of Bank Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, plant and equipment | $ 46,949 | $ 49,570 |
Less: accumulated depreciation | (31,517) | (34,173) |
Net | 15,432 | 15,397 |
Land [Member] | ||
Property, plant and equipment | 2,818 | 2,818 |
Building and Building Improvements [Member] | ||
Property, plant and equipment | 28,285 | 27,619 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment | 15,578 | 18,741 |
Construction in Progress [Member] | ||
Property, plant and equipment | $ 268 | $ 392 |
Note 9 - Bank Premises and Eq81
Note 9 - Bank Premises and Equipment - Depreciation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation expense | $ 1,639 | $ 1,589 | $ 1,888 |
Occupancy Expense [Member] | |||
Depreciation expense | 801 | 804 | 954 |
Furniture and Fixtures Expense [Member] | |||
Depreciation expense | $ 838 | $ 785 | $ 934 |
Note 10 - Intangible Assets (De
Note 10 - Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill, Period Increase (Decrease) | $ 0 | $ 0 | |
Goodwill | 11,942,000 | 11,942,000 | |
Goodwill, Acquired During Period | 0 | 0 | |
Goodwill, Impairment Loss | 0 | ||
Amortization of Intangible Assets | $ 5,000 | $ 13,000 | $ 22,000 |
Note 10 - Intangible Assets - C
Note 10 - Intangible Assets - Core Deposit Intangibles (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Gross amount | $ 2,034 | $ 2,034 |
Less: accumulated amortization | (2,022) | (2,017) |
Net | $ 12 | $ 17 |
Note 11 - Deposits (Details Tex
Note 11 - Deposits (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Time Deposits, at or Above FDIC Insurance Limit | $ 12,653,000 | $ 7,929,000 |
Note 11 - Deposits - Scheduled
Note 11 - Deposits - Scheduled Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 112,563 |
2,019 | 57,097 |
2,020 | 22,836 |
2,021 | 7,975 |
2,022 | 10,484 |
Thereafter | 2,716 |
Total | $ 213,671 |
Note 11 - Deposits - Remaining
Note 11 - Deposits - Remaining Maturities of Time Deposits In Excess of $250,000 (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Three months or less | $ 4,833,000 | |
Over 3 months through 12 months | 5,375,000 | |
Over 1 year through 3 years | 1,148,000 | |
Over 3 years | 1,297,000 | |
Total | $ 12,653,000 | $ 7,929,000 |
Note 12 - Borrowed Funds (Detai
Note 12 - Borrowed Funds (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 1.52% | 0.61% | |
Line of Credit Facility, Maximum Month-end Outstanding Amount | $ 61,766,000 | $ 47,005,000 | $ 53,496,000 |
Available-for-sale Securities Pledged as Collateral | 217,925,000 | 230,803,000 | |
Carrying Value of Securities Sold under Repurchase Agreements and Deposits Received for Securities Loaned | 12,158,000 | 15,019,000 | |
Securities Sold under Agreements to Repurchase, Asset | $ 0 | $ 31,494,000 | |
Repurchase Agreements [Member] | |||
Debt, Weighted Average Interest Rate | 3.60% | 3.60% | 3.99% |
Short-term Debt, Average Outstanding Amount | $ 26,112,000 | $ 27,000,000 | $ 54,304,000 |
Repurchase Agreement Maturing in 2017 with a Rate of 3.595% [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.595% | ||
Maximum [Member] | |||
Securities Sold under Agreements to Repurchase, Asset | $ 27,000,000 | $ 27,000,000 | $ 61,000,000 |
Securities Sold under Agreements to Repurchase [Member] | |||
Debt, Weighted Average Interest Rate | 0.10% | 0.10% | |
Federal Home Loan Bank of Pittsburgh [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 362,630,000 | $ 339,221,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 471,454,000 | 471,454,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 295,441,000 | $ 306,767,000 | |
Federal Home Loan Bank of Pittsburgh [Member] | Overnight Borrowing [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.54% | 0.74% | |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances 1 [Member] | |||
Number of Short-term Advances | 9 | ||
Short-term Borrowing, Amount of Each Borrowing | $ 3,000,000 | ||
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances 2 [Member] | |||
Number of Short-term Advances | 1 | ||
Short-term Borrowing, Amount of Each Borrowing | $ 2,000,000 | ||
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | |||
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 1.69% | ||
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | Minimum [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.23% | ||
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | Maximum [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.89% | ||
Federal Home Loan Bank of Pittsburgh [Member] | Other Assets [Member] | |||
Federal Home Loan Bank Stock | $ 6,426,000 | $ 4,296,000 | |
Other Correspondent Banks [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 45,000,000 | 45,000,000 | |
Long-term Line of Credit | 0 | 0 | |
Federal Reserve Bank of Philadelphia [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 15,877,000 | 15,636,000 | |
Long-term Line of Credit | 0 | 0 | |
Available-for-sale Securities Pledged as Collateral | $ 16,301,000 | $ 17,690,000 |
Note 12 - Borrowed Funds - Shor
Note 12 - Borrowed Funds - Short-term Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Short-term borrowings | $ 61,766 | $ 26,175 |
Securities Sold under Agreements to Repurchase [Member] | ||
Short-term borrowings | 3,766 | 5,175 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Short-term borrowings | 58,000 | 21,000 |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Advances [Member] | ||
Short-term borrowings | 58,000 | 21,000 |
Federal Home Loan Bank of Pittsburgh [Member] | Overnight Borrowing [Member] | ||
Short-term borrowings | 29,000 | 21,000 |
Federal Home Loan Bank of Pittsburgh [Member] | Other Short-term Debt [Member] | ||
Short-term borrowings | $ 29,000 | $ 0 |
Note 12 - Borrowed Funds - Long
Note 12 - Borrowed Funds - Long-term Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Long-term borrowings | $ 9,189 | $ 38,454 |
Repurchase Agreements [Member] | ||
Long-term borrowings | 0 | 27,000 |
Federal Home Loan Bank Advances [Member] | ||
Long-term borrowings | $ 9,189 | $ 11,454 |
Note 12 - Borrowed Funds - Lo90
Note 12 - Borrowed Funds - Long-term Borrowing Maturities (Details) - Federal Home Loan Bank of Pittsburgh [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Long-term borrowings from FHLB - Pittsburgh | $ 9,189 | $ 11,454 |
Federal Home Loan Bank Borrowings Loan Maturing in 2017 With Rate of 6.83% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 0 | 4 |
Federal Home Loan Bank Borrowings Loan Maturing in 2017 with Rate of 3.81% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 0 | 10,000 |
Federal Home Loan Bank Borrowings Loan Maturing in 2018 with Rate of 1.63% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 3,000 | 0 |
Federal Home Loan Bank Borrowings Loan Maturing in 2018 with Rate of 1.35% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 3,000 | 0 |
Federal Home Loan Bank Borrowings Loan Maturing in 2019 with Rate of 1.83% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 2,000 | 0 |
Federal Home Loan Bank Borrowings Loan Maturing in 2020 with Rate of 4.79% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | 463 | 646 |
Federal Home Loan Bank Borrowings Loan Maturing in 2025 with Rate of 4.91% [Member] | ||
Long-term borrowings from FHLB - Pittsburgh | $ 726 | $ 804 |
Note 12 - Borrowed Funds - Lo91
Note 12 - Borrowed Funds - Long-term Borrowing Maturities (Details) (Parentheticals) | Dec. 31, 2017Rate | Dec. 31, 2016Rate |
Federal Home Loan Bank Borrowings Loan Maturing in 2020 with Rate of 4.79% [Member] | ||
Rate | 4.79% | 4.79% |
Federal Home Loan Bank Borrowings Loan Maturing in 2025 with Rate of 4.91% [Member] | ||
Rate | 4.91% | 4.91% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2017 With Rate of 6.83% [Member] | ||
Rate | 6.83% | 6.83% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2017 with Rate of 3.81% [Member] | ||
Rate | 3.81% | 3.81% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2018 with Rate of 1.63% [Member] | ||
Rate | 1.63% | 1.63% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2018 with Rate of 1.35% [Member] | ||
Rate | 1.35% | 1.35% |
Federal Home Loan Bank of Pittsburgh [Member] | Federal Home Loan Bank Borrowings Loan Maturing in 2019 with Rate of 1.83% [Member] | ||
Rate | 1.83% | 1.83% |
Note 12 - Borrowed Funds - Unde
Note 12 - Borrowed Funds - Underlying Securities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Underlying securities | $ 0 | $ 31,494,000 |
Residential Pass-Through Securities [Member] | ||
Underlying securities | 0 | 18,181,000 |
Collateralized Mortgage Obligations [Member] | ||
Underlying securities | $ 0 | $ 13,313,000 |
Note 13 - Employee and Postre93
Note 13 - Employee and Postretirement Benefit Plans (Details Textual) | 1 Months Ended | 12 Months Ended | |||
Jan. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Dec. 03, 2015USD ($) | |
Estimated Minimum Contribution to Defined Benefit Pension Plan | $ 0 | ||||
Payment for Pension Benefits | $ 681,000 | $ 646,000 | $ 609,000 | ||
Employee Stock Ownership Plan (ESOP), Diversification Feature, Age Requirement | 55 | ||||
Deferred Compensation Arrangement with Individual, Requisite Service Period | 10 years | ||||
Employee Stock Ownership Plan (ESOP), Diversification Feature Percentage | 50.00% | ||||
Employee Stock Ownership Plan (ESOP), Policy Diversification Feature Term | 6 years | ||||
Employee Stock Ownership Plan (ESOP), Shares Repurchased | shares | 0 | 0 | |||
Employee Stock Ownership Plan (ESOP), Shares in ESOP | shares | 419,067 | 417,753 | |||
Employee Stock Ownership Plan (ESOP), Cash Contributions to ESOP | $ 588,000 | $ 549,000 | 522,000 | ||
Pension and Other Postretirement Benefits Cost (Reversal of Cost) | $ 5,374,000 | $ 4,717,000 | $ 4,420,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 0 | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 182 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 913,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 164,000 | $ 183,000 | $ 77,000 | ||
Allocated Share-based Compensation Expense | 627,000 | 578,000 | 606,000 | ||
Scenario, Forecast [Member] | |||||
Allocated Share-based Compensation Expense | $ 716,000 | ||||
Minimum [Member] | |||||
Performance Conditions on Return on Average Equity, Peer Group, Total Assets | 750,000,000 | $ 750,000,000 | |||
Maximum [Member] | |||||
Performance Conditions on Return on Average Equity, Peer Group, Total Assets | 3,500,000,000 | $ 2,000,000,000 | |||
Employee Stock Option [Member] | |||||
Allocated Share-based Compensation Expense | 0 | 0 | 0 | ||
Restricted Stock [Member] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 671,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 109 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 30,782 | ||||
Allocated Share-based Compensation Expense | $ 627,000 | $ 578,000 | 606,000 | ||
Stock Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 850,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares | 270,179 | ||||
Stock Incentive Plan [Member] | Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 180 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Subsequent Event [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 25,416 | ||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Subsequent Event [Member] | Vesting Contingent upon Corporation Meeting ROAE Performance Ratio [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Other Employees [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | |||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Executive Officer [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | |||
Stock Incentive Plan [Member] | Restricted Stock [Member] | Executive Officer [Member] | Subsequent Event [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 16,578 | ||||
Independent Directors Stock Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 135,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares | 17,396 | ||||
Independent Directors Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | 1 year | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 8,470 | 7,834 | |||
Independent Directors Stock Incentive Plan [Member] | Restricted Stock [Member] | Subsequent Event [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 9,086 | ||||
Equity Securities [Member] | |||||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 45.00% | 44.00% | |||
Debt Securities [Member] | |||||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 37.00% | 38.00% | |||
Alternative Funds [Member] | |||||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 16.00% | 16.00% | |||
Cash [Member] | |||||
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage | 2.00% | 2.00% | |||
Pension Plan [Member] | |||||
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year | $ (13,000) | ||||
Defined Benefit Plan, Accumulated Benefit Obligation | 850,000 | $ 713,000 | |||
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement | $ 337,000 | ||||
Defined Benefit Plan, Benefits Paid Percentage of Benefit Obligation | 32.00% | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | 0 | $ (87,000) | ||
Other Postretirement Benefits Plan [Member] | |||||
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year | 0 | ||||
Defined Benefit Plan, Expected Amortization of Prior Service Cost (Credit), Next Fiscal Year | 31,000 | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | 0 | 0 | 0 | ||
Supplemental Employee Retirement Plan [Member] | |||||
Pension and Other Postretirement Benefits Cost (Reversal of Cost) | $ 200,000 | $ 184,000 | $ 167,000 |
Note 13 - Employee and Postre94
Note 13 - Employee and Postretirement Benefit Plans - Funded Status of Defined Benefit Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Pension Plan [Member] | |||
Benefit obligation at beginning of year | $ 713 | $ 722 | |
Service cost | 0 | 0 | $ 0 |
Interest cost | 24 | 26 | 36 |
Plan participants' contributions | 0 | 0 | |
Actuarial loss (gain) | 127 | 3 | |
Benefits paid | (14) | (38) | |
Benefit obligation at end of year | 850 | 713 | 722 |
Fair value of plan assets at beginning of year | 846 | 839 | |
Actual return on plan assets | 91 | 45 | |
Employer contribution | 0 | 0 | |
Plan participants' contributions | 0 | 0 | |
Benefits paid | (14) | (38) | |
Fair value of plan assets at end of year | 923 | 846 | 839 |
Funded status at end of year | 73 | 133 | |
Other Postretirement Benefits Plan [Member] | |||
Benefit obligation at beginning of year | 1,555 | 1,539 | |
Service cost | 36 | 37 | 38 |
Interest cost | 57 | 62 | 57 |
Plan participants' contributions | 211 | 215 | |
Actuarial loss (gain) | (103) | (30) | |
Benefits paid | (259) | (268) | |
Benefit obligation at end of year | 1,497 | 1,555 | 1,539 |
Fair value of plan assets at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contribution | 48 | 53 | |
Plan participants' contributions | 211 | 215 | |
Benefits paid | (259) | (268) | |
Fair value of plan assets at end of year | 0 | 0 | $ 0 |
Funded status at end of year | $ (1,497) | $ (1,555) |
Note 13 - Employee and Postre95
Note 13 - Employee and Postretirement Benefit Plans - Plan Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Pension Plan [Member] | ||
Other assets | $ 73 | $ 133 |
Accrued interest and other liabilities | ||
Other Postretirement Benefits Plan [Member] | ||
Other assets | ||
Accrued interest and other liabilities | $ 1,497 | $ 1,555 |
Note 13 - Employee and Postre96
Note 13 - Employee and Postretirement Benefit Plans - Items Included in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Pension Plan [Member] | ||
Prior service cost | $ 0 | $ 0 |
Net actuarial loss (gain) | 221 | 161 |
Total | 221 | 161 |
Other Postretirement Benefits Plan [Member] | ||
Prior service cost | (309) | (340) |
Net actuarial loss (gain) | (2) | 101 |
Total | $ (311) | $ (239) |
Note 13 - Employee and Postre97
Note 13 - Employee and Postretirement Benefit Plans - Net Periodic Benefit Costs (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Pension Plan [Member] | |||
Service cost | $ 0 | $ 0 | $ 0 |
Interest cost | 24,000 | 26,000 | 36,000 |
Expected return on plan assets | (31,000) | (26,000) | (45,000) |
Amortization of prior service cost | 0 | 0 | 0 |
Recognized net actuarial loss | 7,000 | 9,000 | 11,000 |
Loss on settlement | 0 | 0 | 87,000 |
Total net periodic benefit cost | 0 | 9,000 | 89,000 |
Other Postretirement Benefits Plan [Member] | |||
Service cost | 36,000 | 37,000 | 38,000 |
Interest cost | 57,000 | 62,000 | 57,000 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of prior service cost | (31,000) | (31,000) | (31,000) |
Recognized net actuarial loss | 0 | 0 | 0 |
Loss on settlement | 0 | 0 | 0 |
Total net periodic benefit cost | $ 62,000 | $ 68,000 | $ 64,000 |
Note 13 - Employee and Postre98
Note 13 - Employee and Postretirement Benefit Plans - Assumptions Used to Determine Net Periodic Benefit Cost (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Pension Plan [Member] | |||
Discount rate | 4.05% | 4.30% | 3.75% |
Expected return on plan assets | 6.00% | 5.00% | 5.31% |
Discount rate | 3.55% | 4.05% | |
Other Postretirement Benefits Plan [Member] | |||
Discount rate | 3.75% | 4.25% | 4.00% |
Discount rate | 3.75% | 4.25% |
Note 13 - Employee and Postre99
Note 13 - Employee and Postretirement Benefit Plans - Estimated Future Benefit Payments (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Pension Plan [Member] | |
2,018 | $ 312 |
2,019 | 41 |
2,020 | 13 |
2,021 | 12 |
2,022 | 14 |
2023-2027 | 226 |
Other Postretirement Benefits Plan [Member] | |
2,018 | 96 |
2,019 | 96 |
2,020 | 104 |
2,021 | 101 |
2,022 | 105 |
2023-2027 | $ 516 |
Note 13 - Employee and Postr100
Note 13 - Employee and Postretirement Benefit Plans - Fair Values of Pension Plan Assets (Details) | Dec. 31, 2017 | Dec. 31, 2016 |
Fair value of plan assets | 100.00% | 100.00% |
Cash and Cash Equivalents [Member] | ||
Fair value of plan assets | 2.00% | 2.00% |
Debt Securities [Member] | ||
Fair value of plan assets | 37.00% | 38.00% |
Equity Securities [Member] | ||
Fair value of plan assets | 45.00% | 44.00% |
Alternative Funds [Member] | ||
Fair value of plan assets | 16.00% | 16.00% |
Note 13 - Employee and Postr101
Note 13 - Employee and Postretirement Benefit Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Allocated Share-based Compensation Expense | $ 627 | $ 578 | $ 606 |
Restricted Stock [Member] | |||
Allocated Share-based Compensation Expense | 627 | 578 | 606 |
Employee Stock Option [Member] | |||
Allocated Share-based Compensation Expense | $ 0 | $ 0 | $ 0 |
Note 13 - Employee and Postr102
Note 13 - Employee and Postretirement Benefit Plans - Non-vested Stock Options and Restricted Stock Activity (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Outstanding, restricted shares, beginning of year (in shares) | shares | 63,362 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.35 |
Granted, restricted shares (in shares) | shares | 30,782 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 25.97 |
Vested, restricted shares (in shares) | shares | (28,981) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 20.21 |
Forfeited, restricted shares (in shares) | shares | (4,406) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 21.74 |
Outstanding, restricted shares, end of year (in shares) | shares | 60,757 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 23.17 |
Note 13 - Employee and Postr103
Note 13 - Employee and Postretirement Benefit Plans - Awarded Shares of Restricted Stock Under Stock Incentive Plan (Details) - Restricted Stock [Member] - Stock Incentive Plan [Member] - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Shares awarded (in shares) | 22,312 | 27,593 |
Executive Officer [Member] | ||
Shares awarded (in shares) | 14,897 | 17,289 |
Other Employees [Member] | ||
Shares awarded (in shares) | 7,415 | 10,304 |
Note 13 - Employee and Postr104
Note 13 - Employee and Postretirement Benefit Plans - Stock Option Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding, beginning of year (in shares) | 202,037 | 248,486 | 316,157 |
Outstanding, beginning of year (in dollars per share) | $ 18.58 | $ 18.59 | $ 19.05 |
Granted (in shares) | 0 | 0 | 0 |
Granted (in dollars per share) | |||
Exercised (in shares) | (24,976) | (35,880) | (29,557) |
Exercised (in dollars per share) | $ 17.50 | $ 18.86 | $ 17.56 |
Forfeited (in shares) | (635) | (10,569) | (20,211) |
Forfeited (in dollars per share) | $ 19.88 | $ 18.03 | $ 19.76 |
Expired (in shares) | (10,766) | 0 | (17,903) |
Expired (in dollars per share) | $ 22.33 | $ 27 | |
Outstanding, end of year (in shares) | 165,660 | 202,037 | 248,486 |
Outstanding, end of year (in dollars per share) | $ 18.49 | $ 18.58 | $ 18.59 |
Options exercisable at year-end (in shares) | 165,660 | 202,037 | 248,486 |
Options exercisable at year-end (in dollars per share) | $ 18.49 | $ 18.58 | $ 18.59 |
Weighted-average fair value of options forfeited (in dollars per share) | $ 4.21 | $ 4.04 | $ 4.86 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 2,159,000 | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | |
Income Tax Expense (Benefit), Included in AOCI | $ 325,000 | |||
Income Tax Credits and Adjustments | 157,000 | $ 158,000 | $ 160,000 | |
Increase (Decrease) in Income Taxes | (73,000) | (76,000) | $ (80,000) | |
Unrecognized Tax Benefits | 0 | |||
Other Assets [Member] | ||||
Amortization Method Qualified Affordable Housing Project Investments | $ 608,000 | $ 713,000 | ||
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 14 - Income Taxes - Net De
Note 14 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Allowance for loan losses | $ 1,894 | $ 2,998 |
Other deferred tax assets | 1,726 | 2,658 |
Total deferred tax assets | 4,126 | 6,168 |
Deferred tax liabilities: | ||
Bank premises and equipment | 751 | 913 |
Core deposit intangibles | 3 | 6 |
Other deferred tax liabilities | 64 | 105 |
Total deferred tax liabilities | 837 | 1,051 |
Deferred tax asset, net | 3,289 | 5,117 |
AOCI Attributable to Parent [Member] | ||
Deferred tax assets: | ||
Unrealized holding losses on securities | 843 | 512 |
Deferred tax liabilities: | ||
Defined benefit plans - ASC 835 | 31 | 27 |
Retained Earnings [Member] | ||
Deferred tax assets: | ||
Unrealized holding losses on securities | (337) | 0 |
Deferred tax liabilities: | ||
Defined benefit plans - ASC 835 | $ (12) | $ 0 |
Note 14 - Income Taxes - Provis
Note 14 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Currently payable | $ 3,536 | $ 1,262 | $ 1,374 | $ 984 | $ 1,500 | $ 1,451 | $ 1,303 | $ 1,093 | $ 4,938 | $ 5,328 | $ 5,097 |
Tax expense resulting from allocations of certain tax benefits to equity or as a reduction in other assets | 63 | 175 | 161 | ||||||||
Deferred | 2,155 | (156) | 79 | ||||||||
Total provision | $ 7,156 | $ 5,347 | $ 5,337 |
Note 14 - Income Taxes - Reconc
Note 14 - Income Taxes - Reconciliation of Income Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expected provision | $ 7,207 | $ 7,388 | $ 7,633 |
Expected provision, percentage | 35.00% | 35.00% | 35.00% |
Tax-exempt interest income | $ (1,817) | $ (1,801) | $ (1,914) |
Tax-exempt interest income, percentage | (8.82%) | (8.53%) | (8.78%) |
Nondeductible interest expense | $ 42 | $ 40 | $ 51 |
Nondeductible interest expense, percentage | 0.20% | 0.19% | 0.23% |
Dividends received deduction | $ (7) | $ (22) | $ (75) |
Dividends received deduction, percentage | (0.03%) | (0.10%) | (0.34%) |
Increase in cash surrender value of life insurance | $ (133) | $ (134) | $ (135) |
Increase in cash surrender value of life insurance, percentage | (0.65%) | (0.63%) | (0.62%) |
Employee stock option compensation | $ 8 | $ 0 | $ 0 |
Employee stock option compensation, percentage | 0.04% | 0.00% | 0.00% |
ESOP Dividends | $ (154) | $ 0 | $ 0 |
ESOP Dividends, percentage | (0.75%) | 0.00% | 0.00% |
Tax benefit from limited partnership investment | $ (73) | $ (76) | $ (80) |
Tax benefit from limited partnership investment, percentage | (0.35%) | (0.36%) | (0.37%) |
Effect of tax rate change | $ 2,159 | $ 0 | $ 0 |
Effect of tax rate change, percentage | 10.49% | 0.00% | 0.00% |
Other, net | $ (76) | $ (48) | $ (143) |
Other, net, percentage | (0.37%) | (0.23%) | (0.66%) |
Total provision | $ 7,156 | $ 5,347 | $ 5,337 |
Effective income tax provision, percentage | 34.75% | 25.33% | 24.47% |
Note 15 - Related Party Tran109
Note 15 - Related Party Transactions (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Deposit Liabilities | $ 7,171,000 | $ 6,261,000 |
Note 15 - Related Party Tran110
Note 15 - Related Party Transactions - Related Party Loans (Details) - Management [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning Balance | $ 11,414 | $ 10,246 | $ 12,023 |
New Loans | 2,128 | 307 | 52 |
Repayments | (2,061) | (1,160) | (808) |
Other Changes | 2,931 | 2,021 | (1,021) |
Ending Balance | $ 14,412 | $ 11,414 | $ 10,246 |
Note 16 - Off-balance Sheet 111
Note 16 - Off-balance Sheet Risk (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Letters of Credit Outstanding, Amount | $ 0 | $ 0 |
Note 16 - Off-balance Sheet 112
Note 16 - Off-balance Sheet Risk - Financial Instruments Whose Contract Amounts Represent Credit Risk (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Commitments to Extend Credit [Member] | ||
Credit risk financial instrument | $ 187,919 | $ 180,768 |
Standby Letters of Credit [Member] | ||
Credit risk financial instrument | $ 7,445 | $ 9,025 |
Note 16 - Off-balance Sheet 113
Note 16 - Off-balance Sheet Risk - Standby Letters of Credit Expirations (Details) - Standby Letters of Credit [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
2,018 | $ 7,042 | |
2,019 | 355 | |
2,020 | 48 | |
Total | $ 7,445 | $ 9,025 |
Note 18 - Regulatory Matters (D
Note 18 - Regulatory Matters (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2017 |
Capital Conservation Buffer | 15.07% | |
Retained Earnings, Unappropriated | $ 88,980,000 | |
Tangible Capital to Tangible Assets | 10.00% | |
Tangible Capital | $ 15,604,000 | |
Citizens and Northern Bank [Member] | ||
Capital Conservation Buffer | 12.47% | |
Scenario, Forecast [Member] | ||
Common Equity Tier One Capital Conservation Buffer Required for Capital Adequacy to Risk Weighted Assets | 2.50% |
Note 18 - Regulatory Matters -
Note 18 - Regulatory Matters - Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Total capital to risk-weighted assets - actual amount | $ 187,097 | $ 183,597 |
Total capital to risk-weighted assets - actual ratio | 23.07% | 23.60% |
Total capital to risk-weighted assets - minimum capital requirement amount | $ 64,872 | $ 62,245 |
Minimum total capital ratio | 8.00% | 8.00% |
Total capital to risk-weighted assets - minimum capital requirement with conservation buffer amount | $ 75,008 | $ 67,108 |
Total capital to risk-weighted assets - minimum capital requirement with conservation buffer ratio | 9.25% | 8.625% |
Total capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions amount | $ 81,090 | $ 77,806 |
Total capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions ratio | 10.00% | 10.00% |
Total capital to risk-weighted assets - minimum to meet the corporation's policy thresholds amount | $ 85,144 | $ 81,697 |
Total capital to risk-weighted assets - minimum to meet the corporation's policy thresholds ratio | 10.50% | 10.50% |
Tier 1 capital to risk-weighted assets - actual amount | $ 177,981 | $ 174,928 |
Tier 1 capital to risk-weighted assets - actual ratio | 21.95% | 22.48% |
Tier 1 capital to risk-weighted assets - minimum capital requirement amount | $ 48,654 | $ 46,684 |
Minimum tier 1 capital ratio | 6.00% | 6.00% |
Tier 1 capital to risk-weighted assets - minimum capital requirement with conservation buffer amount | $ 58,790 | $ 51,547 |
Tier 1 capital to risk-weighted assets - minimum capital requirement with conservation buffer ratio | 7.25% | 6.625% |
Tier 1 capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions amount | $ 64,872 | $ 62,245 |
Tier 1 capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets - minimum to meet the corporation's policy thresholds amount | $ 68,926 | $ 66,135 |
Tier 1 capital to risk-weighted assets - minimum to meet the corporation's policy thresholds ratio | 8.50% | 8.50% |
Common equity Tier 1 - amount | $ 177,981 | $ 174,928 |
Common equity Tier 1 - ratio | 21.95% | 22.48% |
Common equity Tier 1 - minimum capital requirement amount | $ 36,490 | $ 35,013 |
Minimum common equity tier 1 capital ratio | 4.50% | 4.50% |
Common equity Tier 1 - capital conservation buffer amount | $ 46,626 | $ 39,876 |
Common equity Tier 1 - capital conservation buffer ratio | 5.75% | 5.125% |
Common equity Tier 1 - minimum to be well capitalized under prompt corrective action provisions amount | $ 52,708 | $ 50,574 |
Common equity Tier 1 - minimum to be well capitalized under prompt corrective action provisions ratio | 6.50% | 6.50% |
Common equity Tier 1 - minimum to meet the corporation's policy thresholds amount | $ 56,763 | $ 54,464 |
Common equity Tier 1 - minimum to meet the corporation's policy thresholds ratio | 7.00% | 7.00% |
Tier 1 capital average - amount | $ 177,981 | $ 174,928 |
Tier 1 capital average - ratio | 14.23% | 14.27% |
Tier 1 capital average - minimum capital amount | $ 50,023 | $ 49,026 |
Tier 1 capital average - minimum capital ratio | 4.00% | 4.00% |
Tier 1 capital average - minimum to be well capitalized amount | $ 62,529 | $ 61,282 |
Tier 1 capital average - minimum to be well capitalized ratio | 5.00% | 5.00% |
Tier 1 capital average - minimum to meet the corporation's policy threshold amount | $ 62,529 | $ 61,282 |
Tier 1 capital average - minimum to meet the corporation's policy threshold ratio | 5.00% | 5.00% |
Citizens and Northern Bank [Member] | ||
Total capital to risk-weighted assets - actual amount | $ 165,142 | $ 162,705 |
Total capital to risk-weighted assets - actual ratio | 20.47% | 21.03% |
Total capital to risk-weighted assets - minimum capital requirement amount | $ 64,528 | $ 61,894 |
Minimum total capital ratio | 8.00% | 8.00% |
Total capital to risk-weighted assets - minimum capital requirement with conservation buffer amount | $ 74,611 | $ 66,730 |
Total capital to risk-weighted assets - minimum capital requirement with conservation buffer ratio | 9.25% | 8.625% |
Total capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions amount | $ 80,661 | $ 77,368 |
Total capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions ratio | 10.00% | 10.00% |
Total capital to risk-weighted assets - minimum to meet the corporation's policy thresholds amount | $ 84,694 | $ 81,236 |
Total capital to risk-weighted assets - minimum to meet the corporation's policy thresholds ratio | 10.50% | 10.50% |
Tier 1 capital to risk-weighted assets - actual amount | $ 156,026 | $ 154,036 |
Tier 1 capital to risk-weighted assets - actual ratio | 19.34% | 19.91% |
Tier 1 capital to risk-weighted assets - minimum capital requirement amount | $ 48,396 | $ 46,421 |
Minimum tier 1 capital ratio | 6.00% | 6.00% |
Tier 1 capital to risk-weighted assets - minimum capital requirement with conservation buffer amount | $ 58,479 | $ 51,256 |
Tier 1 capital to risk-weighted assets - minimum capital requirement with conservation buffer ratio | 7.25% | 6.625% |
Tier 1 capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions amount | $ 64,528 | $ 61,894 |
Tier 1 capital to risk-weighted assets - minimum to be well capitalized under prompt corrective action provisions ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets - minimum to meet the corporation's policy thresholds amount | $ 68,561 | $ 65,762 |
Tier 1 capital to risk-weighted assets - minimum to meet the corporation's policy thresholds ratio | 8.50% | 8.50% |
Common equity Tier 1 - amount | $ 156,026 | $ 154,036 |
Common equity Tier 1 - ratio | 19.34% | 19.91% |
Common equity Tier 1 - minimum capital requirement amount | $ 36,297 | $ 34,815 |
Minimum common equity tier 1 capital ratio | 4.50% | 4.50% |
Common equity Tier 1 - capital conservation buffer amount | $ 46,380 | $ 39,651 |
Common equity Tier 1 - capital conservation buffer ratio | 5.75% | 5.125% |
Common equity Tier 1 - minimum to be well capitalized under prompt corrective action provisions amount | $ 52,429 | $ 50,289 |
Common equity Tier 1 - minimum to be well capitalized under prompt corrective action provisions ratio | 6.50% | 6.50% |
Common equity Tier 1 - minimum to meet the corporation's policy thresholds amount | $ 56,462 | $ 54,157 |
Common equity Tier 1 - minimum to meet the corporation's policy thresholds ratio | 7.00% | 7.00% |
Tier 1 capital average - amount | $ 156,026 | $ 154,036 |
Tier 1 capital average - ratio | 12.63% | 12.73% |
Tier 1 capital average - minimum capital amount | $ 49,418 | $ 48,404 |
Tier 1 capital average - minimum capital ratio | 4.00% | 4.00% |
Tier 1 capital average - minimum to be well capitalized amount | $ 61,772 | $ 60,506 |
Tier 1 capital average - minimum to be well capitalized ratio | 5.00% | 5.00% |
Tier 1 capital average - minimum to meet the corporation's policy threshold amount | $ 61,772 | $ 60,506 |
Tier 1 capital average - minimum to meet the corporation's policy threshold ratio | 5.00% | 5.00% |
Note 18 - Regulatory Matters116
Note 18 - Regulatory Matters - Transition Schedule for New Ratios, Including the Capital Conservation Buffer (Details) | Dec. 31, 2017 | Dec. 31, 2016 |
Minimum common equity tier 1 capital ratio | 4.50% | 4.50% |
Minimum tier 1 capital ratio | 6.00% | 6.00% |
Minimum total capital ratio | 8.00% | 8.00% |
Phased in Beginning 2017 [Member] | ||
Minimum common equity tier 1 capital ratio | 4.50% | |
Common equity tier 1 capital conservation buffer | 1.25% | |
Minimum common equity tier 1 capital ratio plus capital conservation buffer | 5.75% | |
Phase-in of most deductions from common equity tier 1 capital | 80.00% | |
Minimum tier 1 capital ratio | 6.00% | |
Minimum tier 1 capital ratio plus capital conservation buffer | 7.25% | |
Minimum total capital ratio | 8.00% | |
Minimum total capital ratio plus capital conservation buffer | 9.25% | |
Phased in Beginning 2018 [Member] | ||
Minimum common equity tier 1 capital ratio | 4.50% | |
Common equity tier 1 capital conservation buffer | 1.875% | |
Minimum common equity tier 1 capital ratio plus capital conservation buffer | 6.375% | |
Phase-in of most deductions from common equity tier 1 capital | 100.00% | |
Minimum tier 1 capital ratio | 6.00% | |
Minimum tier 1 capital ratio plus capital conservation buffer | 7.875% | |
Minimum total capital ratio | 8.00% | |
Minimum total capital ratio plus capital conservation buffer | 9.875% | |
Phased in Beginning 2019 [Member] | ||
Minimum common equity tier 1 capital ratio | 4.50% | |
Common equity tier 1 capital conservation buffer | 2.50% | |
Minimum common equity tier 1 capital ratio plus capital conservation buffer | 7.00% | |
Phase-in of most deductions from common equity tier 1 capital | 100.00% | |
Minimum tier 1 capital ratio | 6.00% | |
Minimum tier 1 capital ratio plus capital conservation buffer | 8.50% | |
Minimum total capital ratio | 8.00% | |
Minimum total capital ratio plus capital conservation buffer | 10.50% |
Note 18 - Regulatory Matters117
Note 18 - Regulatory Matters - Payout Restrictions Based on the Capital Conservation Buffer (Details) | Dec. 31, 2017 |
Range One [Member] | |
Maximum Payout | 60.00% |
Range Two [Member] | |
Maximum Payout | 40.00% |
Range Three [Member] | |
Maximum Payout | 20.00% |
Range Four [Member] | |
Maximum Payout | 0.00% |
Note 18 - Regulatory Matters118
Note 18 - Regulatory Matters - Payout Restrictions Based on the Capital Conservation Buffer (Details) (Parentheticals) | Dec. 31, 2017 |
Range One [Member] | |
Capital conservation buffer, high | 2.50% |
Capital conservation buffer, low | 1.875% |
Range Two [Member] | |
Capital conservation buffer, high | 1.875% |
Capital conservation buffer, low | 1.25% |
Range Three [Member] | |
Capital conservation buffer, high | 1.25% |
Capital conservation buffer, low | 0.625% |
Range Four [Member] | |
Capital conservation buffer, high | 0.625% |
Capital conservation buffer, low | 0.00% |
Note 19 - Parent Company Only -
Note 19 - Parent Company Only - Condensed Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Other assets | $ 15,781 | $ 13,282 |
TOTAL ASSETS | 1,276,959 | 1,242,292 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Other liabilities | 9,112 | 7,812 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,276,959 | 1,242,292 |
Parent Company [Member] | ||
ASSETS | ||
Cash | 6,790 | 6,033 |
Other assets | 15 | 4 |
TOTAL ASSETS | 188,457 | 186,021 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Other liabilities | 14 | 13 |
Stockholders' equity | 188,443 | 186,008 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 188,457 | 186,021 |
Parent Company [Member] | Citizens and Northern Bank [Member] | ||
ASSETS | ||
Equity method investment | 166,576 | 165,397 |
Parent Company [Member] | Citizens and Northern Investment Corporation [Member] | ||
ASSETS | ||
Equity method investment | 11,588 | 11,168 |
Parent Company [Member] | Bucktail Life Insurance Company [Member] | ||
ASSETS | ||
Equity method investment | $ 3,488 | $ 3,419 |
Note 19 - Parent Company Onl120
Note 19 - Parent Company Only - Condensed Income Statement (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Dividends from Citizens & Northern Bank | $ 21 | $ 70 | $ 284 | ||||||||
Income before equity in undistributed income of subsidiaries | $ 5,479 | $ 5,198 | $ 5,495 | $ 4,418 | $ 5,731 | $ 5,538 | $ 5,174 | $ 4,666 | 20,590 | 21,109 | 21,808 |
NET INCOME | $ 1,943 | $ 3,936 | $ 4,121 | $ 3,434 | $ 4,231 | $ 4,087 | $ 3,871 | $ 3,573 | 13,434 | 15,762 | 16,471 |
Parent Company [Member] | |||||||||||
Dividends from Citizens & Northern Bank | 12,022 | 14,960 | 11,569 | ||||||||
Expenses | (233) | (367) | (234) | ||||||||
Income before equity in undistributed income of subsidiaries | 11,789 | 14,593 | 11,335 | ||||||||
Equity in undistributed income of subsidiaries | 1,645 | 1,169 | 5,136 | ||||||||
NET INCOME | $ 13,434 | $ 15,762 | $ 16,471 |
Note 19 - Parent Company Onl121
Note 19 - Parent Company Only - Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | $ 1,943 | $ 3,936 | $ 4,121 | $ 3,434 | $ 4,231 | $ 4,087 | $ 3,871 | $ 3,573 | $ 13,434 | $ 15,762 | $ 16,471 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Increase in accrued interest receivable and other assets | (595) | (410) | (1,697) | ||||||||
Increase (decrease) in accrued interest payable and other liabilities | 1,312 | (216) | 1,195 | ||||||||
Net Cash Provided by Operating Activities | 19,374 | 18,510 | 19,686 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Tax (cost) benefit from compensation plans, net | 0 | 175 | 159 | ||||||||
Purchase of treasury stock | 0 | (3,723) | (4,415) | ||||||||
Common dividends paid | (11,145) | (11,112) | (11,245) | ||||||||
Net Cash Used in Financing Activities | 19,914 | 6,197 | (36,401) | ||||||||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 8,383 | (4,692) | 1,694 | ||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 28,621 | 33,313 | 28,621 | 33,313 | 31,619 | ||||||
CASH AND CASH EQUIVALENTS, END OF PERIOD | 37,004 | 28,621 | 37,004 | 28,621 | 33,313 | ||||||
Parent Company [Member] | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | 13,434 | 15,762 | 16,471 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income of subsidiaries | (1,645) | (1,169) | (5,136) | ||||||||
Increase in accrued interest receivable and other assets | (11) | 20 | 12 | ||||||||
Increase (decrease) in accrued interest payable and other liabilities | 1 | (6) | 12 | ||||||||
Net Cash Provided by Operating Activities | 11,779 | 14,607 | 11,359 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Proceeds from sale of treasury stock | 128 | 263 | 381 | ||||||||
Tax (cost) benefit from compensation plans, net | (5) | 151 | 143 | ||||||||
Purchase of treasury stock | 0 | (3,723) | (4,415) | ||||||||
Common dividends paid | (11,145) | (11,112) | (11,245) | ||||||||
Net Cash Used in Financing Activities | (11,022) | (14,421) | (15,136) | ||||||||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 757 | 186 | (3,777) | ||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | $ 6,033 | $ 5,847 | 6,033 | 5,847 | 9,624 | ||||||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 6,790 | $ 6,033 | $ 6,790 | $ 6,033 | $ 5,847 |
Note 20 - Summary of Quarter122
Note 20 - Summary of Quarterly Consolidated Financial Data (Unaudited) - Quarterly Financial Data (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Interest income | $ 11,785,000 | $ 11,626,000 | $ 11,340,000 | $ 11,112,000 | $ 11,106,000 | $ 11,131,000 | $ 10,924,000 | $ 10,937,000 | $ 45,863,000 | $ 44,098,000 | $ 44,519,000 | |||
Interest expense | 999,000 | 985,000 | 978,000 | 953,000 | 920,000 | 944,000 | 925,000 | 904,000 | 3,915,000 | 3,693,000 | 4,602,000 | |||
Net interest income | 10,786,000 | 10,641,000 | 10,362,000 | 10,159,000 | 10,186,000 | 10,187,000 | 9,999,000 | 10,033,000 | 41,948,000 | 40,405,000 | 39,917,000 | |||
Provision for loan losses | 23,000 | 322,000 | 4,000 | 452,000 | (3,000) | 538,000 | 318,000 | 368,000 | 801,000 | 1,221,000 | 845,000 | |||
Net interest income after provision for loan losses | 10,763,000 | 10,319,000 | 10,358,000 | 9,707,000 | 10,189,000 | 9,649,000 | 9,681,000 | 9,665,000 | 41,147,000 | 39,184,000 | 39,072,000 | |||
Other income | 4,117,000 | 4,066,000 | 4,106,000 | 3,864,000 | 4,031,000 | 3,884,000 | 3,906,000 | 3,690,000 | ||||||
Net gains on available-for-sale securities | 0 | 5,000 | 107,000 | 145,000 | 69,000 | 584,000 | 122,000 | 383,000 | 257,000 | 1,158,000 | 2,861,000 | |||
Other expenses | 9,401,000 | 9,192,000 | 9,076,000 | 9,298,000 | 8,558,000 | 8,579,000 | 8,535,000 | 9,072,000 | 6,348,000 | 5,540,000 | 5,141,000 | |||
Income before equity in undistributed income of subsidiaries | 5,479,000 | 5,198,000 | 5,495,000 | 4,418,000 | 5,731,000 | 5,538,000 | 5,174,000 | 4,666,000 | 20,590,000 | 21,109,000 | 21,808,000 | |||
Income tax provision | 3,536,000 | 1,262,000 | 1,374,000 | 984,000 | 1,500,000 | 1,451,000 | 1,303,000 | 1,093,000 | 4,938,000 | 5,328,000 | 5,097,000 | |||
NET INCOME | 1,943,000 | 3,936,000 | 4,121,000 | 3,434,000 | 4,231,000 | 4,087,000 | 3,871,000 | 3,573,000 | 13,434,000 | 15,762,000 | 16,471,000 | |||
Net income attributable to common shares | $ 1,933,000 | $ 3,916,000 | $ 4,100,000 | $ 3,416,000 | $ 4,209,000 | $ 4,065,000 | $ 3,850,000 | $ 3,553,000 | $ 13,365,000 | $ 15,677,000 | $ 16,387,000 | |||
Net income per share – basic (in dollars per share) | $ 0.16 | $ 0.32 | $ 0.34 | $ 0.28 | $ 0.35 | $ 0.34 | $ 0.32 | $ 0.29 | $ 1.10 | [1] | $ 1.30 | [1] | $ 1.35 | [1] |
Net income per share – diluted (in dollars per share) | $ 0.16 | $ 0.32 | $ 0.34 | $ 0.28 | $ 0.35 | $ 0.34 | $ 0.32 | $ 0.29 | $ 1.10 | [1] | $ 1.30 | [1] | $ 1.35 | [1] |
[1] | Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares with nonforfeitable dividends (participating securities). |