Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Aug. 04, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000836147 | |
Entity Registrant Name | Middlefield Banc Corp. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-36613 | |
Entity Incorporation, State or Country Code | OH | |
Entity Tax Identification Number | 34-1585111 | |
Entity Address, Address Line One | 15985 East High Street | |
Entity Address, City or Town | Middlefield | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 44062-0035 | |
City Area Code | 440 | |
Local Phone Number | 632-1666 | |
Title of 12(b) Security | Common Stock, Without Par Value | |
Trading Symbol | MBCN | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 6,378,110 |
Consolidated Balance Sheet (Cur
Consolidated Balance Sheet (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and due from banks | $ 55,766 | $ 35,113 |
Federal funds sold | 2,520 | 0 |
Cash and cash equivalents | 58,286 | 35,113 |
Equity securities, at fair value | 581 | 710 |
Investment securities available for sale, at fair value | 112,529 | 105,733 |
Loans held for sale | 4,151 | 1,220 |
Loans: | ||
Loans | 1,110,259 | 984,258 |
Less: allowance for loan and lease losses | 10,210 | 6,768 |
Net loans | 1,100,049 | 977,490 |
Premises and equipment, net | 18,962 | 17,874 |
Goodwill | 15,071 | 15,071 |
Core deposit intangibles | 1,890 | 2,056 |
Bank-owned life insurance | 16,723 | 16,511 |
Accrued interest receivable and other assets | 15,078 | 10,697 |
TOTAL ASSETS | 1,343,320 | 1,182,475 |
LIABILITIES | ||
Noninterest-bearing demand | 270,738 | 191,370 |
Interest-bearing demand | 136,722 | 107,844 |
Money market | 168,842 | 160,826 |
Savings | 218,545 | 192,003 |
Time | 363,420 | 368,800 |
Total deposits | 1,158,267 | 1,020,843 |
Short-term borrowings: | ||
Federal funds purchased | 0 | 75 |
Federal Home Loan Bank advances | 20,417 | 5,000 |
Total short-term borrowings | 20,417 | 5,075 |
Other borrowings | 17,162 | 12,750 |
Accrued interest payable and other liabilities | 6,779 | 6,032 |
TOTAL LIABILITIES | 1,202,625 | 1,044,700 |
STOCKHOLDERS' EQUITY | ||
Common stock, no par value; 10,000,000 shares authorized, 7,298,829 and 7,294,792 shares issued; 6,369,467 and 6,423,630 shares outstanding | 86,722 | 86,617 |
Retained earnings | 67,150 | 65,063 |
Accumulated other comprehensive income | 3,761 | 1,842 |
Treasury stock, at cost; 929,362 and 871,162 shares | (16,938) | (15,747) |
TOTAL STOCKHOLDERS' EQUITY | 140,695 | 137,775 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,343,320 | 1,182,475 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans: | ||
Loans | 110,134 | 102,386 |
Less: allowance for loan and lease losses | 1,038 | 801 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans: | ||
Loans | 300,577 | 302,180 |
Less: allowance for loan and lease losses | 5,159 | 3,382 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans: | ||
Loans | 37,604 | 62,028 |
Less: allowance for loan and lease losses | 291 | 340 |
Residential Portfolio Segment [Member] | ||
Loans: | ||
Loans | 227,427 | 234,798 |
Less: allowance for loan and lease losses | 1,167 | 726 |
Commercial And Industrial [Member] | ||
Loans: | ||
Loans | 240,096 | 89,527 |
Less: allowance for loan and lease losses | 1,105 | 456 |
Home Equity Lines of Credit [Member] | ||
Loans: | ||
Loans | 117,196 | 112,248 |
Less: allowance for loan and lease losses | 1,203 | 932 |
Construction and Other [Member] | ||
Loans: | ||
Loans | 66,015 | 66,680 |
Less: allowance for loan and lease losses | 236 | 103 |
Consumer Portfolio Segment [Member] | ||
Loans: | ||
Loans | 11,210 | 14,411 |
Less: allowance for loan and lease losses | $ 11 | $ 28 |
Consolidated Balance Sheet (C_2
Consolidated Balance Sheet (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 7,298,829 | 7,294,792 |
Common stock, shares outstanding (in shares) | 6,369,467 | 6,423,630 |
Treasury stock, shares (in shares) | 929,362 | 871,162 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
INTEREST AND DIVIDEND INCOME | |||||
Interest and fees on loans | $ 12,281,000 | $ 12,706,000 | $ 24,359,000 | $ 25,194,000 | |
Interest-earning deposits in other institutions | 7,000 | 169,000 | 101,000 | 356,000 | |
Federal funds sold | 0 | 25,000 | 21,000 | 32,000 | |
Investment securities: | |||||
Taxable interest | 206,000 | 214,000 | 363,000 | 393,000 | |
Tax-exempt interest | 634,000 | 553,000 | 1,263,000 | 1,118,000 | |
Dividends on stock | 27,000 | 53,000 | 57,000 | 111,000 | |
Total interest and dividend income | 13,155,000 | 13,720,000 | 26,164,000 | 27,204,000 | |
INTEREST EXPENSE | |||||
Deposits | 2,336,000 | 3,277,000 | 5,201,000 | 6,222,000 | |
Short-term borrowings | 32,000 | 79,000 | 67,000 | 292,000 | |
Other borrowings | 62,000 | 95,000 | 138,000 | 191,000 | |
Total interest expense | 2,430,000 | 3,451,000 | 5,406,000 | 6,705,000 | |
NET INTEREST INCOME | 10,725,000 | 10,269,000 | 20,758,000 | 20,499,000 | |
Provision for loan losses | 1,000,000 | 110,000 | 3,740,000 | 350,000 | |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 9,725,000 | 10,159,000 | 17,018,000 | 20,149,000 | |
NONINTEREST INCOME | |||||
Investment securities gains on sale, net | [1] | 0 | 190,000 | 0 | 190,000 |
Gain (loss) on equity securities | [1] | 31,000 | (14,000) | (129,000) | 44,000 |
Earnings on bank-owned life insurance | [1] | 105,000 | 109,000 | 212,000 | 214,000 |
Gain on sale of loans | [1] | 381,000 | 98,000 | 495,000 | 157,000 |
Total noninterest income | 1,495,000 | 1,299,000 | 2,569,000 | 2,431,000 | |
NONINTEREST EXPENSE | |||||
Salaries and employee benefits | 4,076,000 | 4,078,000 | 7,600,000 | 8,202,000 | |
Occupancy expense | 483,000 | 496,000 | 1,033,000 | 1,049,000 | |
Equipment expense | 307,000 | 291,000 | 580,000 | 526,000 | |
Data processing costs | 684,000 | 549,000 | 1,350,000 | 1,014,000 | |
Ohio state franchise tax | 281,000 | 261,000 | 549,000 | 520,000 | |
Federal deposit insurance expense | 74,000 | 100,000 | 197,000 | 230,000 | |
Professional fees | 369,000 | 403,000 | 718,000 | 834,000 | |
Advertising expense | 217,000 | 200,000 | 426,000 | 403,000 | |
Software amortization expense | 74,000 | 48,000 | 215,000 | 191,000 | |
Core deposit intangible amortization | 83,000 | 85,000 | 166,000 | 170,000 | |
Other expense | 1,041,000 | 971,000 | 2,107,000 | 1,843,000 | |
Total noninterest expense | 7,689,000 | 7,482,000 | 14,941,000 | 14,982,000 | |
Income before income taxes | 3,531,000 | 3,976,000 | 4,646,000 | 7,598,000 | |
Income taxes | 565,000 | 686,000 | 639,000 | 1,297,000 | |
NET INCOME | $ 2,966,000 | $ 3,290,000 | $ 4,007,000 | $ 6,301,000 | |
EARNINGS PER SHARE | |||||
Basic (in dollars per share) | $ 0.47 | $ 0.51 | $ 0.63 | $ 0.97 | |
Diluted (in dollars per share) | $ 0.46 | $ 0.50 | $ 0.62 | $ 0.97 | |
Deposit Account [Member] | |||||
NONINTEREST INCOME | |||||
Noninterest income revenue | $ 566,000 | $ 530,000 | $ 1,119,000 | $ 1,038,000 | |
Financial Service, Other [Member] | |||||
NONINTEREST INCOME | |||||
Noninterest income revenue | $ 412,000 | $ 386,000 | $ 872,000 | $ 788,000 | |
[1] | Not within scope of ASC 606 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |||
Net income | $ 2,966 | $ 3,290 | $ 4,007 | $ 6,301 | ||
Other comprehensive income: | ||||||
Net unrealized holding gain on available-for-sale investment securities | 7,592 | 1,122 | 2,429 | 2,128 | ||
Tax effect | (1,594) | (236) | (510) | (447) | ||
Reclassification adjustment for investment securities gains included in net income | 0 | (190) | 0 | (190) | ||
Tax effect | 0 | 40 | 0 | 40 | ||
Total other comprehensive income | 5,998 | 736 | [1] | 1,919 | 1,531 | [1] |
Comprehensive income | $ 8,964 | $ 4,026 | $ 5,926 | $ 7,832 | ||
[1] | All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total | |
Balance (in shares) at Dec. 31, 2018 | 7,260,994 | |||||
Balance at Dec. 31, 2018 | $ 85,925 | $ 56,037 | $ (154) | $ (13,518) | $ 128,290 | |
Net income | 6,301 | 6,301 | ||||
Total other comprehensive income | 1,531 | 1,531 | [1] | |||
Cash dividends | (1,821) | (1,821) | ||||
Dividend reinvestment and purchase plan (in shares) | 16,568 | |||||
Dividend reinvestment and purchase plan | $ 345 | 345 | ||||
Stock options exercised (in shares) | 400 | |||||
Stock options exercised | $ 4 | 4 | ||||
Treasury shares acquired | (706) | (706) | ||||
Stock-based compensation, net (in shares) | 15,032 | |||||
Stock-based compensation, net | $ 316 | $ 316 | ||||
Balance (in shares) at Jun. 30, 2019 | 7,292,994 | 6,485,170 | ||||
Balance at Jun. 30, 2019 | $ 86,590 | 60,517 | 1,377 | (14,224) | $ 134,260 | |
Balance (in shares) at Mar. 31, 2019 | 7,285,070 | |||||
Balance at Mar. 31, 2019 | $ 86,437 | 58,139 | 641 | (13,518) | 131,699 | |
Net income | 3,290 | 3,290 | ||||
Total other comprehensive income | 736 | 736 | [1] | |||
Cash dividends | (912) | (912) | ||||
Dividend reinvestment and purchase plan (in shares) | 7,524 | |||||
Dividend reinvestment and purchase plan | $ 149 | 149 | ||||
Stock options exercised (in shares) | 400 | |||||
Stock options exercised | $ 4 | 4 | ||||
Treasury shares acquired | (706) | $ (706) | ||||
Balance (in shares) at Jun. 30, 2019 | 7,292,994 | 6,485,170 | ||||
Balance at Jun. 30, 2019 | $ 86,590 | 60,517 | 1,377 | (14,224) | $ 134,260 | |
Balance (in shares) at Dec. 31, 2019 | 7,294,792 | 6,423,630 | ||||
Balance at Dec. 31, 2019 | $ 86,617 | 65,063 | 1,842 | (15,747) | $ 137,775 | |
Net income | 4,007 | 4,007 | ||||
Total other comprehensive income | 1,919 | 1,919 | ||||
Cash dividends | (1,920) | (1,920) | ||||
Treasury shares acquired | (1,191) | (1,191) | ||||
Stock-based compensation, net (in shares) | 4,037 | |||||
Stock-based compensation, net | $ 105 | $ 105 | ||||
Balance (in shares) at Jun. 30, 2020 | 7,298,829 | 6,369,467 | ||||
Balance at Jun. 30, 2020 | $ 86,722 | 67,150 | 3,761 | (16,938) | $ 140,695 | |
Balance (in shares) at Mar. 31, 2020 | 7,298,829 | |||||
Balance at Mar. 31, 2020 | $ 86,722 | 65,140 | (2,237) | (16,938) | 132,687 | |
Net income | 2,966 | 2,966 | ||||
Total other comprehensive income | 5,998 | 5,998 | ||||
Cash dividends | (956) | $ (956) | ||||
Balance (in shares) at Jun. 30, 2020 | 7,298,829 | 6,369,467 | ||||
Balance at Jun. 30, 2020 | $ 86,722 | $ 67,150 | $ 3,761 | $ (16,938) | $ 140,695 | |
[1] | All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Retained Earnings [Member] | ||||
Cash dividends per share (in dollars per share) | $ 0.15 | $ 0.14 | $ 0.30 | $ 0.28 |
Treasury acquired, shares (in shares) | 35,494 | 58,200 | 35,494 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | ||
OPERATING ACTIVITIES | |||
Net income | $ 4,007,000 | $ 6,301,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 3,740,000 | 350,000 | |
Investment securities gains on sale, net | [1] | 0 | (190,000) |
Loss (gain) on equity securities | [1] | 129,000 | (44,000) |
Depreciation and amortization of premises and equipment, net | 437,000 | 524,000 | |
Software amortization expense | 215,000 | 191,000 | |
Financing lease amortization expense | 131,000 | 173,000 | |
Gain on sale of premises and equipment | (27,000) | 0 | |
Amortization of premium and discount on investment securities, net | 190,000 | 176,000 | |
Accretion of deferred loan fees, net | (1,108,000) | (429,000) | |
Amortization of core deposit intangibles | 166,000 | 170,000 | |
Stock-based compensation (income) expense, net | (8,000) | 186,000 | |
Origination of loans held for sale | (21,051,000) | (6,781,000) | |
Proceeds from sale of loans | 18,615,000 | 7,104,000 | |
Gain on sale of loans | (495,000) | (157,000) | |
Earnings on bank-owned life insurance | [1] | (212,000) | (214,000) |
Deferred income tax | (534,000) | 183,000 | |
Net gain on other real estate owned | (62,000) | (106,000) | |
(Increase) decrease in accrued interest receivable | (2,070,000) | 66,000 | |
(Decrease) increase in accrued interest payable | (18,000) | 292,000 | |
Other, net | 508,000 | (2,885,000) | |
Net cash provided by operating activities | 2,553,000 | 4,910,000 | |
INVESTING ACTIVITIES | |||
Proceeds from repayments and maturities | 7,745,000 | 6,851,000 | |
Proceeds from sale of securities | 0 | 11,807,000 | |
Purchases | (12,302,000) | (17,193,000) | |
Increase in loans, net | (125,775,000) | (6,206,000) | |
Proceeds from the sale of other real estate owned | 114,000 | 325,000 | |
Net purchase of premises and equipment | (646,000) | (681,000) | |
Proceeds from the disposal of premises and equipment | 27,000 | 0 | |
Purchase of restricted stock | (1,600,000) | (29,000) | |
Net cash used in investing activities | (132,437,000) | (5,126,000) | |
FINANCING ACTIVITIES | |||
Net increase in deposits | 137,424,000 | 35,440,000 | |
Increase (decrease) in borrowings, net | 18,744,000 | (5,553,000) | |
Restricted stock cash portion | 0 | (44,000) | |
Stock options exercised | 0 | 4,000 | |
Proceeds from dividend reinvestment and purchase plan | 0 | 345,000 | |
Repurchase of treasury shares | (1,191,000) | (706,000) | |
Cash dividends | (1,920,000) | (1,821,000) | |
Net cash provided by financing activities | 153,057,000 | 27,665,000 | |
Increase in cash and cash equivalents | 23,173,000 | 27,449,000 | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 35,113,000 | 107,933,000 | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 58,286,000 | 135,382,000 | |
Cash paid during the year for: | |||
Interest on deposits and borrowings | 5,424,000 | 6,413,000 | |
Income taxes | 0 | 1,330,000 | |
Noncash operating transactions: | |||
Operating lease assets added to other, net | 0 | (1,071,000) | |
Operating lease liabilities added to other, net | 0 | 1,071,000 | |
Noncash investing transactions: | |||
Transfers from loans to other real estate owned | 584,000 | 38,000 | |
Finance lease assets added to premises and equipment | (1,010,000) | (3,801,000) | |
Noncash financing transactions: | |||
Finance lease liabilities added to borrowed funds | $ 1,010,000 | $ 3,801,000 | |
[1] | Not within scope of ASC 606 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 The consolidated financial statements of Middlefield Banc Corp. ("Company") include its bank subsidiary, The Middlefield Banking Company (“MBC” or “Middlefield Bank”), and a nonbank asset resolution subsidiary EMORECO, Inc. The consolidated financial statements also include the accounts of MBC’s subsidiary, Middlefield Investments, Inc. (MI), established March 13, 2019. The unaudited condensed consolidated financial statements have been prepared in conformity with the instructions to Form 10 10 X. not 10 December 31, 2019. not may In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ from those estimates. Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (“CECL”) first November 2019, 2019 10, Financial Instruments ‒ Credit Losses (Topic 326 815 842 2016 13 December 15, 2022, In November 2019, 2019 11, Codification Improvements to Topic 326, 326, 2019 10. In March 2020, 2020 3 , Codification Improvements to Financial Instruments. 2016. seven not 825, Financial Instruments 842 326. 2019 04 December 15, 2019, not 2016 01. 2016 13 not 2016 13. not 2016 13. 2016 13 December 15, 2019, Reclassification of Comparative Amounts Certain comparative amounts for prior years have been reclassified to conform to current-year presentations. Such reclassifications did not |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2 – REVENUE RECOGNITION In accordance with ASC Topic 606, not 606. The main types of noninterest income within the scope of the standard are as follows: Service charges on deposit accounts Gains (losses) on sale of other real estate owned ( “ OREO ” ) not The following table depicts the disaggregation of revenue derived from contracts with customers to depict the nature, amount, timing, and uncertainty of revenue and cash flows: For the Three Months Ended June 30, For the Six Months Ended June 30, Noninterest Income 2020 2019 2020 2019 (Dollar amounts in thousands) Service charges on deposit accounts: Overdraft fees $ 122 $ 190 $ 312 $ 438 ATM banking fees 263 241 473 435 Service charges and other fees 181 99 334 165 Investment securities gains on sale, net (a) - 190 - 190 Gain (loss) on equity securities (a) 31 (14 ) (129 ) 44 Earnings on bank-owned life insurance (a) 105 109 212 214 Gain on sale of loans (a) 381 98 495 157 Revenue from investment services 137 124 268 262 Other income 275 262 604 526 Total noninterest income $ 1,495 $ 1,299 $ 2,569 $ 2,431 Net gain on other real estate owned $ 62 $ 63 $ 62 $ 106 (a) Not 606 |
Note 3 - Stock-based Compensati
Note 3 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | NOTE 3 The Company had no June 30, 2020 2019. Stock option activity during the six June 30, 2020 Weighted- average Exercise Price Shares Per Share Outstanding, January 1, 2020 14,500 $ 8.78 Exercised (1,000 ) 8.78 Outstanding, June 30, 2020 13,500 $ 8.78 Exercisable, June 30, 2020 13,500 $ 8.78 The following table presents the activity during the six June 30, 2020 Weighted- average Grant Date Fair Units Value Per Unit Nonvested at January 1, 2020 61,040 $ 21.73 Granted 23,648 26.09 Nonvested at June 30, 2020 84,688 $ 22.94 Expected to vest as of June 30, 2020 1,000 $ 22.65 The Company recognizes restricted stock forfeitures in the period they occur. Share-based compensation expense of $294,000 and $0 was recognized for the three June 30, 2020 2019, six June 30, 2020 2019, six June 30, 2020 December 31, 2019. first 2020, June 30, 2020 2019, Total unrecognized stock compensation cost related to nonvested share-based compensation on restricted stock as of June 30, 2020 2020, 2021, 2022, 2023. |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 4 The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income by the average shares outstanding. Diluted earnings per share adds the dilutive effects of stock options and restricted stock to average shares outstanding. The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings-per-share computation. For the Three For the Six Months Ended Months Ended June 30, June 30, 2020 2019 2020 2019 Weighted-average common shares issued 7,298,829 7,286,542 7,298,785 7,278,620 Average treasury stock shares (929,362 ) (784,034 ) (905,497 ) (778,214 ) Weighted-average common shares and common stock equivalents used to calculate basic earnings per share 6,369,467 6,502,508 6,393,288 6,500,406 Additional common stock equivalents (stock options and restricted stock) used to calculate diluted earnings per share 18,651 12,438 19,297 12,644 Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share 6,388,118 6,514,946 6,412,585 6,513,050 Options to purchase 13,500 shares of common stock at $8.78 per share were outstanding during the three six June 30, 2020. 73,147 Options to purchase 14,500 shares of common stock at $8.78 per share were outstanding during the three six June 30, 2019. None When shares recognized as equity are repurchased, the amount of the consideration paid, which includes directly attributable costs, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented in the treasury share reserve. The reserve for the Company’s treasury shares comprises the cost of the Company’s shares held by the Company. As of June 30, 2020, December 31, 2019. |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 5 - FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction between market participants at the measurement date. GAAP establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following levels: Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no not two This hierarchy requires the use of observable market data when available. The following tables present the assets measured on a recurring basis on the Consolidated Balance Sheet at their fair value by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. June 30, 2020 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: Subordinated debt $ - $ 11,289 $ - $ 11,289 Obligations of states and political subdivisions - 84,540 - 84,540 Mortgage-backed securities in government-sponsored entities - 16,700 - 16,700 Total debt securities - 112,529 - 112,529 Equity securities in financial institutions 581 - - 581 Total $ 581 $ 112,529 $ - $ 113,110 December 31, 2019 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: Subordinated debt $ - $ 4,126 $ - $ 4,126 Obligations of states and political subdivisions - 82,977 - 82,977 Mortgage-backed securities in government-sponsored entities - 18,630 - 18,630 Total debt securities - 105,733 - 105,733 Equity securities in financial institutions 710 - - 710 Total $ 710 $ 105,733 $ - $ 106,443 Investment Securities Available for S ale Equity Securities no not The following tables present the assets measured on a non-recurring basis on the Consolidated Balance Sheet at their fair value by level within the fair value hierarchy. Collateral-dependent impaired loans are carried at fair value if they have been charged down to fair value or if a specific valuation allowance has been established. A new cost basis is established at the time a property is initially recorded in OREO. OREO properties are carried at fair value if a devaluation has been taken to the property’s value at initial foreclosure or subsequent to the initial measurement. No six June 30, 2020. June 30, 2020 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 4,729 $ 4,729 December 31, 2019 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 5,166 $ 5,166 Impaired Loans third may not not June 30, 2020 December 31, 2019. The following tables present additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company uses Level III inputs to determine fair value: Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Range (Weighted Fair Value Estimate Valuation Techniques Unobservable Input Average) June 30, 2020 Impaired loans $ 4,729 Appraisal of collateral (1) Appraisal adjustments (2) 29.8% to 46.2% (34.7%) Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Range (Weighted Fair Value Estimate Valuation Techniques Unobservable Input Average) December 31, 2019 Impaired loans $ 5,166 Appraisal of collateral (1) Appraisal adjustments (2) 40.3% to 47.4% (41.8%) ( 1 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs which are not ( 2 Appraisals may The estimated fair value of the Company’s financial instruments not June 30, 2020 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Cash and cash equivalents $ 58,286 $ 58,286 $ - $ - $ 58,286 Loans held for sale 4,151 - 4,151 - 4,151 Net loans 1,100,049 - - 1,100,623 1,100,623 Bank-owned life insurance 16,723 16,723 - - 16,723 Federal Home Loan Bank stock 5,448 5,448 - - 5,448 Accrued interest receivable 5,541 5,541 - - 5,541 Financial liabilities: Deposits $ 1,158,267 $ 794,847 $ - $ 369,173 $ 1,164,020 Short-term borrowings 20,417 20,417 - - 20,417 Other borrowings 17,162 - - 13,211 13,211 Accrued interest payable 899 899 - - 899 December 31, 2019 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Cash and cash equivalents $ 35,113 $ 35,113 $ - $ - $ 35,113 Loans held for sale 1,220 - 1,220 - 1,220 Net loans 977,490 - - 974,213 974,213 Bank-owned life insurance 16,511 16,511 - - 16,511 Federal Home Loan Bank stock 3,848 3,848 - - 3,848 Accrued interest receivable 3,471 3,471 - - 3,471 Financial liabilities: Deposits $ 1,020,843 $ 652,043 $ - $ 371,193 $ 1,023,236 Short-term borrowings 5,075 5,075 - - 5,075 Other borrowings 12,750 - - 12,783 12,783 Accrued interest payable 917 917 - - 917 All financial instruments included in the above tables, with the exception of net loans, deposits, and other borrowings, are carried at cost, which approximates the fair value of the instrument. |
Note 6 - Accumulated Other Comp
Note 6 - Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 6 – ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents the changes in accumulated other comprehensive income (“AOCI”) by component net of tax for the three six June 30, 2020 2019, (Dollars in thousands) Unrealized gains/(losses) on available-for-sale securities (a) Balance as of March 31, 2020 $ (2,237 ) Other comprehensive income 5,998 Balance at June 30, 2020 $ 3,761 Balance as of December 31, 2019 $ 1,842 Other comprehensive income 1,919 Balance at June 30, 2020 $ 3,761 (Dollars in thousands) Unrealized gains/(losses) on available-for-sale securities (a) Balance as of March 31, 2019 $ 641 Other comprehensive income 886 Amount reclassified from accumulated other comprehensive income (150 ) Period change 736 Balance at June 30, 2019 $ 1,377 Balance as of December 31, 2018 $ (154 ) Other comprehensive income 1,681 Amount reclassified from accumulated other comprehensive income (150 ) Period change 1,531 Balance at June 30, 2019 $ 1,377 (a) All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. The following tables present significant amounts reclassified from or to each component of AOCI: Amounts Reclassified from Accumulated Other Affected Line Item in Comprehensive Income the Statement Where (Dollars in thousands) For the Three and Six Months Ended Net Income is Details about other comprehensive income June 30, 2020 June 30, 2019 Presented Unrealized gains on available-for-sale securities (a) $ - $ 190 Investment securities gains on sale, net - (40 ) Income taxes $ - $ 150 (a) For unrealized gains on available-for-sale securities, amounts in parentheses indicate expenses and other amounts indicate income. |
Note 7 - Investment and Equity
Note 7 - Investment and Equity Securities | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 7 – INVESTMENT AND EQUITY SECURITIES The amortized cost and fair values of investment securities available for sale are as follows: June 30, 2020 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Subordinated debt $ 11,050 $ 239 $ - $ 11,289 Obligations of states and political subdivisions: Taxable 500 2 - 502 Tax-exempt 80,155 3,883 - 84,038 Mortgage-backed securities in government-sponsored entities 16,063 637 - 16,700 Total $ 107,768 $ 4,761 $ - $ 112,529 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Subordinated debt $ 4,000 $ 126 $ - $ 4,126 Obligations of states and political subdivisions: Taxable 500 1 - 501 Tax-exempt 80,436 2,065 (25 ) 82,476 Mortgage-backed securities in government-sponsored entities 18,465 274 (109 ) 18,630 Total $ 103,401 $ 2,466 $ (134 ) $ 105,733 The Company recognized a net gain (loss) on equity investments of $31,000 and ($129,000), respectively, for the three six June 30, 2020. three six June 30, 2019. No The amortized cost and fair value of debt securities at June 30, 2020, may Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 3 $ 3 Due after one year through five years 887 911 Due after five years through ten years 22,176 22,713 Due after ten years 84,702 88,902 Total $ 107,768 $ 112,529 Proceeds from the sales of investment securities and the gross realized gains and losses are as follows: (Dollars amounts in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 Proceeds from sales $ - $ 11,807 $ - $ 11,807 Gross realized gains - 223 - 223 Gross realized losses - (33 ) - (33 ) There were no six June 30, 2020. Investment securities with an approximate carrying value of $53.6 million and $55.6 million at June 30, 2020 December 31, 2019, The following table shows the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position. December 31, 2019 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollar amounts in thousands) Value Losses Value Losses Value Losses Obligations of states and political subdivisions: Tax-exempt $ 4,324 $ (25 ) $ - $ - $ 4,324 $ (25 ) Mortgage-backed securities in government-sponsored entities 1,409 (2 ) 8,223 (107 ) 9,632 (109 ) Total $ 5,733 $ (27 ) $ 8,223 $ (107 ) $ 13,956 $ (134 ) There were no June 30, 2020. There were no June 30, 2020. On a quarterly basis, the Company performs an assessment to determine whether there have been any events or economic circumstances indicating that a security with an unrealized loss has suffered other-than-temporary impairment (“OTTI”). A debt security is considered impaired if the fair value is less than its amortized cost basis at the reporting date. The Company assesses whether the unrealized loss is other than temporary. OTTI losses are recognized in earnings when the Company has the intent to sell the debt security or it is more likely than not not An unrealized loss is generally deemed to be other than temporary and a credit loss is deemed to exist if the present value of the expected future cash flows is less than the amortized cost basis of the debt security. As a result, the credit loss of an OTTI is recorded as a component of investment securities gains (losses) in the accompanying Consolidated Statement of Income, while the remaining portion of the impairment loss is recognized in other comprehensive income, provided the Company does not not” not Debt securities issued by U.S. government agencies, U.S. government-sponsored enterprises, and state and political subdivisions accounted for 90% of the total available-for-sale portfolio as of June 30, 2020 no • The length of time and the extent to which the fair value has been less than the amortized cost basis; • Changes in the near-term prospects of the underlying collateral of a security such as changes in default rates, loss severity given default and significant changes in prepayment assumptions; • The level of cash flows generated from the underlying collateral supporting the principal and interest payments of the debt securities; and • Any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the overall financial condition of the issuer, credit ratings, recent legislation and government actions affecting the issuer’s industry and actions taken by the issuer to deal with the present economic climate. For the six June 30, 2020 2019, no not June 30, 2020 December 31, 2019 not |
Note 8 - Loans and Related Allo
Note 8 - Loans and Related Allowance for Loan and Lease Losses | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 8 - LOANS AND RELATED ALLOWANCE FOR LOAN AND LEASE LOSSES The Company’s primary business activity is with customers located within its local Northeastern Ohio trade area, eastern Geauga County, and contiguous counties. The Company also serves the central Ohio market with offices in Dublin, Plain City, Powell, Sunbury, and Westerville, Ohio. Commercial, residential, consumer, and agricultural loans are granted. Although the Company has a diversified loan portfolio, loans outstanding to individuals and businesses are dependent upon the local economic conditions in the Company’s immediate trade area. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff generally are reported at their outstanding unpaid principal balances net of the allowance for loan and lease losses. Interest income is recognized on the accrual method. The accrual of interest is discontinued on a loan when management believes, after considering economic and business conditions, the borrower’s financial condition is such that collection of interest is doubtful. Interest payments received on nonaccrual loans are applied against the unpaid principal balance until accrual status is restored. Loan origination fees and certain direct loan origination costs are deferred with the net amount amortized over the contractual life of the loan as an adjustment of the related loan’s yield. The following tables summarize the primary segments of the loan portfolio and allowance for loan and lease losses (in thousands): June 30, 2020 Impairment Evaluation Individually Collectively Total Loans Loans: Commercial real estate: Owner occupied $ 3,486 $ 106,648 $ 110,134 Non-owner occupied 14,685 285,892 300,577 Multifamily - 37,604 37,604 Residential real estate 1,259 226,168 227,427 Commercial and industrial 1,127 238,969 240,096 Home equity lines of credit 347 116,849 117,196 Construction and other - 66,015 66,015 Consumer installment - 11,210 11,210 Total $ 20,904 $ 1,089,355 $ 1,110,259 December 31, 2019 Impairment Evaluation Individually Collectively Total Loans Loans: Commercial real estate: Owner occupied $ 3,474 $ 98,912 $ 102,386 Non-owner occupied 7,084 295,096 302,180 Multifamily - 62,028 62,028 Residential real estate 1,278 233,520 234,798 Commercial and industrial 882 88,645 89,527 Home equity lines of credit 351 111,897 112,248 Construction and other - 66,680 66,680 Consumer installment 1 14,410 14,411 Total $ 13,070 $ 971,188 $ 984,258 The amounts above include net deferred loan origination costs of $4.7 million and $1.3 million at June 30, 2020 December 31, 2019, June 30, 2020 June 30, 2020 Ending Allowance Balance Attributable to Loans: Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Allocation Loans: Commercial real estate: Owner occupied $ 10 $ 1,028 $ 1,038 Non-owner occupied 1,874 3,285 5,159 Multifamily - 291 291 Residential real estate 22 1,145 1,167 Commercial and industrial 43 1,062 1,105 Home equity lines of credit 27 1,176 1,203 Construction and other - 236 236 Consumer installment - 11 11 Total $ 1,976 $ 8,234 $ 10,210 December 31, 2019 Ending Allowance Balance Attributable to Loans: Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Allocation Loans: Commercial real estate: Owner occupied $ 45 $ 756 $ 801 Non-owner occupied 582 2,800 3,382 Multifamily - 340 340 Residential real estate 28 698 726 Commercial and industrial 3 453 456 Home equity lines of credit 2 930 932 Construction and other - 103 103 Consumer installment - 28 28 Total $ 660 $ 6,108 $ 6,768 The Company’s loan portfolio is segmented to a level that allows management to monitor risk and performance. The portfolio is segmented into Commercial Real Estate (“CRE”) which is further segmented into Owner Occupied (“CRE OO”), Non-owner Occupied (“CRE NOO”), and Multifamily Residential, Residential Real Estate (“RRE”), Commercial and Industrial (“C&I”), Home Equity Lines of Credit (“HELOC”), Construction and Other (“Construction”), and Consumer Installment Loans. The commercial real estate loan segments consist of loans made for the purpose of financing the activities of commercial real estate owners and operators. The residential real estate and HELOC loan segments consist of loans made for the purpose of financing the activities of residential homeowners. The C&I loan segment consists of loans made for the purpose of financing the activities of commercial customers. Although PPP loans are included with C&I loans, the nature of PPP loans differs considerably from the rest of the category. The consumer loan segment consists primarily of installment loans and overdraft lines of credit connected with customer deposit accounts. The increases in the allowance for loan loss for the CRE, RRE, C&I, HELOC, and Construction portfolios were partially offset by a decrease in the allowance for the Consumer Installment portfolios. Management evaluates individual loans in all of the commercial segments for possible impairment based on guidance established by the Board of Directors. Loans are considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in evaluating impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company does not Once the determination has been made that a loan is impaired, the determination of whether a specific allocation of the allowance is necessary is measured by comparing the recorded investment in the loan to the fair value of the loan using one not The following tables present impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not June 30, 2020 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial real estate: Owner occupied $ 3,028 $ 3,033 $ - Non-owner occupied 7,538 7,538 - Residential real estate 781 908 - Commercial and industrial 659 1,148 - Home equity lines of credit 179 189 - Total $ 12,185 $ 12,816 $ - With an allowance recorded: Commercial real estate: Owner occupied $ 458 $ 458 $ 10 Non-owner occupied 7,147 7,147 1,874 Residential real estate 478 478 22 Commercial and industrial 468 468 43 Home equity lines of credit 168 168 27 Total $ 8,719 $ 8,719 $ 1,976 Total: Commercial real estate: Owner occupied $ 3,486 $ 3,491 $ 10 Non-owner occupied 14,685 14,685 1,874 Residential real estate 1,259 1,386 22 Commercial and industrial 1,127 1,616 43 Home equity lines of credit 347 357 27 Total $ 20,904 $ 21,535 $ 1,976 December 31, 2019 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial real estate: Owner occupied $ 1,772 $ 1,772 $ - Non-owner occupied 3,845 3,845 - Residential real estate 759 829 - Commercial and industrial 747 1,524 - Home equity lines of credit 220 228 - Consumer installment 1 1 - Total $ 7,344 $ 8,199 $ - With an allowance recorded: Commercial real estate: Owner occupied $ 1,702 $ 1,713 $ 45 Non-owner occupied 3,239 3,239 582 Residential real estate 519 569 28 Commercial and industrial 135 135 3 Home equity lines of credit 131 131 2 Total $ 5,726 $ 5,787 $ 660 Total: Commercial real estate: Owner occupied $ 3,474 $ 3,485 $ 45 Non-owner occupied 7,084 7,084 582 Residential real estate 1,278 1,398 28 Commercial and industrial 882 1,659 3 Home equity lines of credit 351 359 2 Consumer installment 1 1 - Total $ 13,070 $ 13,986 $ 660 The tables above include troubled debt restructuring totaling $3.2 million and $3.6 million as of June 30, 2020 December 31, 2019, June 30, 2020 December 31, 2019, The following tables present the average balance and interest income by class, recognized on impaired loans (in thousands): For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial real estate: Owner occupied $ 3,459 $ 32 $ 3,464 $ 65 Non-owner occupied 10,864 209 9,604 258 Residential real estate 1,206 14 1,230 25 Commercial and industrial 1,019 11 973 21 Home equity lines of credit 347 2 348 4 Consumer installment 1 - 1 - Total $ 16,896 $ 268 $ 15,620 $ 373 For the Three Months Ended June 30, 2019 For the Six Months Ended June 30, 2019 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial real estate: Owner occupied $ 3,819 $ 35 $ 4,014 $ 72 Non-owner occupied 6,419 50 5,989 100 Residential real estate 1,716 15 1,761 27 Commercial and industrial 1,970 23 2,170 45 Home equity lines of credit 104 - 109 - Construction and other 1,620 - 1,080 - Consumer installment 2 - 2 - Total $ 15,650 $ 123 $ 15,125 $ 244 Management uses a nine first five not not not To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan-rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as payment delinquency, bankruptcy, repossession, or death, occurs to raise awareness of a possible credit quality event. The Company’s Commercial Loan Officers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis. The Credit Department performs an annual review of all commercial relationships with loan balances of $500,000 or greater. Confirmation of the appropriate risk grade is included in the review on an ongoing basis. The Company engages an external consultant to conduct loan reviews on a semiannual basis. Generally, the external consultant reviews commercial relationships greater than $250,000 and criticized relationships greater than $150,000. Detailed reviews, including plans for resolution, are performed on criticized loans on at least a quarterly basis. Loans in the Special Mention and Substandard categories that are collectively evaluated for impairment are given separate consideration in the determination of the allowance. The primary risk of commercial and industrial loans is related to deterioration in the cash flow of the business that may The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk-rating system (in thousands): Special Total June 30, 2020 Pass Mention Substandard Doubtful Loans Commercial real estate: Owner occupied $ 103,644 $ 3,042 $ 3,448 $ - $ 110,134 Non-owner occupied 270,678 3,749 26,150 - 300,577 Multifamily 37,604 - - - 37,604 Residential real estate 224,316 410 2,701 - 227,427 Commercial and industrial 235,535 2,658 1,903 - 240,096 Home equity lines of credit 115,617 - 1,579 - 117,196 Construction and other 66,015 - - - 66,015 Consumer installment 11,191 - 19 - 11,210 Total $ 1,064,600 $ 9,859 $ 35,800 $ - $ 1,110,259 Special Total December 31, 2019 Pass Mention Substandard Doubtful Loans Commercial real estate: Owner occupied $ 95,518 $ 3,951 $ 2,917 $ - $ 102,386 Non-owner occupied 292,192 3,038 6,950 - 302,180 Multifamily 62,028 - - - 62,028 Residential real estate 231,633 420 2,745 - 234,798 Commercial and industrial 84,136 3,619 1,772 - 89,527 Home equity lines of credit 111,354 - 894 - 112,248 Construction and other 66,680 - - - 66,680 Consumer installment 14,398 - 13 - 14,411 Total $ 957,939 $ 11,028 $ 15,291 $ - $ 984,258 Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. Nonperforming assets are nonaccrual loans including nonaccrual troubled debt restructurings (“TDR”), loans 90 The following tables present the aging of the recorded investment in past-due loans by class of loans (in thousands): 30-59 Days 60-89 Days 90 Days+ Total Total June 30, 2020 Current Past Due Past Due Past Due Past Due Loans Commercial real estate: Owner occupied $ 108,989 $ - $ 350 $ 795 $ 1,145 $ 110,134 Non-owner occupied 295,729 - 742 4,106 4,848 300,577 Multifamily 37,604 - - - - 37,604 Residential real estate 223,820 1,539 893 1,175 3,607 227,427 Commercial and industrial 239,836 160 - 100 260 240,096 Home equity lines of credit 116,818 189 50 139 378 117,196 Construction and other 60,524 5,491 - - 5,491 66,015 Consumer installment 10,977 - 1 232 233 11,210 Total $ 1,094,297 $ 7,379 $ 2,036 $ 6,547 $ 15,962 $ 1,110,259 30-59 Days 60-89 Days 90 Days+ Total Total December 31, 2019 Current Past Due Past Due Past Due Past Due Loans Commercial real estate: Owner occupied $ 101,264 $ 64 $ - $ 1,058 $ 1,122 $ 102,386 Non-owner occupied 298,941 - - 3,239 3,239 302,180 Multifamily 62,028 - - - - 62,028 Residential real estate 232,518 1,439 34 807 2,280 234,798 Commercial and industrial 88,965 190 66 306 562 89,527 Home equity lines of credit 111,792 274 29 153 456 112,248 Construction and other 66,680 - - - - 66,680 Consumer installment 13,378 622 216 195 1,033 14,411 Total $ 975,566 $ 2,589 $ 345 $ 5,758 $ 8,692 $ 984,258 The following tables present the recorded investment in nonaccrual loans and loans past due over 89 90+ Days Past Due June 30, 2020 Nonaccrual and Accruing Commercial real estate: Owner occupied $ 1,266 $ - Non-owner occupied 4,106 - Residential real estate 2,646 - Commercial and industrial 519 - Home equity lines of credit 1,021 - Consumer installment 245 - Total $ 9,803 $ - 90+ Days Past Due December 31, 2019 Nonaccrual and Accruing Commercial real estate: Owner occupied $ 1,162 $ - Non-owner occupied 3,289 - Residential real estate 2,576 - Commercial and industrial 946 - Home equity lines of credit 709 - Consumer installment 197 - Total $ 8,879 $ - Interest income that would have been recorded had these loans not three June 30, 2020 three December 31, 2019. not six June 30, 2020 December 31, 2019. An allowance for loan and lease losses (“ALLL”) is maintained to absorb losses from the loan portfolio. The ALLL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification and size of the portfolio, adequacy of collateral, past and anticipated loss experience, and the amount of nonperforming loans. The Company’s methodology for determining the ALLL is based on the requirements of ASC Section 310 10 35 450 20 two may Loans that are collectively evaluated for impairment are analyzed with general allowances being made as appropriate. For general allowances, historical loss trends are used in the estimation of losses in the current portfolio. These historical loss amounts are modified by other qualitative factors. The classes described above, which are based on the purpose code assigned to each loan, provide the starting point for the ALLL analysis. Management tracks the historical net charge-off activity at the call code level. The historical charge-off factor was calculated using the last twelve Management has identified a number of additional qualitative factors which it uses to supplement the historical charge-off factor because these factors are likely to cause estimated credit losses associated with the existing loan pools to differ from historical loss experience. The additional factors that are evaluated quarterly and updated using information obtained from internal, regulatory, and governmental sources are: national and local economic trends and conditions; levels of and trends in delinquency rates and nonaccrual loans; trends in volumes and terms of loans; effects of changes in lending policies; experience, ability, and depth of lending staff; value of underlying collateral; and concentrations of credit from a loan type, industry and geographic standpoint. Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the ALLL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALLL. The following tables summarize the primary segments of the loan portfolio and the activity within those segments (in thousands): For the six months ended June 30, 2020 Allowance for Loan and Lease Losses Balance Balance December 31, 2019 Charge-offs Recoveries Provision June 30, 2020 Loans: Commercial real estate: Owner occupied $ 801 $ (50 ) $ 14 $ 273 $ 1,038 Non-owner occupied 3,382 - 74 1,703 5,159 Multifamily 340 - - (49 ) 291 Residential real estate 726 (51 ) 30 462 1,167 Commercial and industrial 456 (170 ) 239 580 1,105 Home equity lines of credit 932 (54 ) 16 309 1,203 Construction and other 103 - 34 99 236 Consumer installment 28 (391 ) 11 363 11 Total $ 6,768 $ (716 ) $ 418 $ 3,740 $ 10,210 For the six months ended June 30, 2019 Allowance for Loan and Lease Losses Balance Balance December 31, 2018 Charge-offs Recoveries Provision June 30, 2019 Loans: Commercial real estate: Owner occupied $ 1,315 $ (32 ) $ 2 $ (419 ) $ 866 Non-owner occupied 2,862 - - 726 3,588 Multifamily 474 - - (62 ) 412 Residential real estate 761 - 39 (53 ) 747 Commercial and industrial 969 (355 ) 40 (115 ) 539 Home equity lines of credit 820 (138 ) 7 247 936 Construction and other 100 - 45 (48 ) 97 Consumer installment 127 (88 ) 6 74 119 Total $ 7,428 $ (613 ) $ 139 $ 350 $ 7,304 For the three months ended June 30, 2020 Allowance for Loan and Lease Losses Balance Balance March 31, 2020 Charge-offs Recoveries Provision June 30, 2020 Loans: Commercial real estate: Owner occupied $ 1,099 $ (50 ) $ 11 $ (22 ) $ 1,038 Non-owner occupied 4,364 - - 795 5,159 Multifamily 386 - - (95 ) 291 Residential real estate 1,164 (5 ) - 8 1,167 Commercial and industrial 716 (109 ) 132 366 1,105 Home equity lines of credit 1,240 (41 ) 12 (8 ) 1,203 Construction and other 254 - 17 (35 ) 236 Consumer installment 21 (3 ) 2 (9 ) 11 Total $ 9,244 $ (208 ) $ 174 $ 1,000 $ 10,210 For the three months ended June 30, 2019 Allowance for Loan and Lease Losses Balance Balance March 31, 2019 Charge-offs Recoveries Provision June 30, 2019 Loans: Commercial real estate: Owner occupied $ 830 $ - $ 1 $ 35 $ 866 Non-owner occupied 2,857 - - 731 3,588 Multifamily 492 - - (80 ) 412 Residential real estate 773 - 30 (56 ) 747 Commercial and industrial 586 (9 ) 24 (62 ) 539 Home equity lines of credit 832 (48 ) 3 149 936 Construction and other 748 - 23 (674 ) 97 Consumer installment 88 (41 ) 5 67 119 Total $ 7,206 $ (98 ) $ 86 $ 110 $ 7,304 The provision fluctuations during the six June 30, 2020 ● a $2.2 million increase in all lending categories’ qualitative factors during the second 2020 19 ● non-owner occupied portfolio are due to the increase of specific reserves for two ● commercial and industrial loans are due to growth in loan volume along with an allocation for the PPP loans in the amount of $423,000. The provision fluctuations during the six June 30, 2019 ● commercial and industrial loans are due to the charge-off of a large relationship of $336,000 from a previous reserve of $358,000 in the first ● residential real estate and home equity lines of credit loans are due to charge-offs and portfolio growth. ● non-owner occupied loans are due to the reclassification of a large construction loan, with a first The provision fluctuations during the three June 30, 2020 ● non-owner occupied portfolio are due to the increase of specific reserves for two ● commercial and industrial loans are due to growth in loan volume along with an allocation for the PPP loans in the amount of $423,000. The provision fluctuation during the three June 30, 2019 ● non-owner occupied loans are due to the reclassification of a large construction loan, with a first TDR describes loans on which the bank has granted concessions for reasons related to the customer’s financial difficulties. Such concessions may one ● reduction in the interest rate to below-market rates ● extension of repayment requirements beyond normal terms ● reduction of the principal amount owed ● reduction of accrued interest due ● acceptance of other assets in full or partial payment of a debt In each case, the concession is made due to deterioration in the borrower’s financial condition, and the new terms are less stringent than those required on a new loan with similar risk. On April 7, 2020, 19 not 19, 30 19 not The following tables summarize troubled debt restructurings (in thousands): For the Six Months Ended June 30, 2020 Number of Contracts Pre-Modification Post-Modification Term Outstanding Recorded Outstanding Recorded Troubled Debt Restructurings Modification Other Total Investment Investment Residential real estate 1 - 1 $ 39 $ 39 Commercial and industrial 2 - 2 118 117 For the Three and Six Months Ended June 30, 2019 Number of Contracts Pre-Modification Post-Modification Term Outstanding Recorded Outstanding Recorded Troubled Debt Restructurings Modification Other Total Investment Investment Residential real estate - 1 1 $ 85 $ 140 There were no three June 30, 2020. There were no three June 30, 2020 June 30, 2019, six June 30, 2020 June 30, 2019. |
Note 9 - Stock Split Disclosure
Note 9 - Stock Split Disclosure | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Stock Split Disclosure [Text Block] | NO TE 9 STOCK SPLIT DISCLOSURE On October 9, 2019, two one October 25, 2019, one November 8, 2019. With respect to the June 30, 2020 2019 June 30, 2019 three six June 30, 2019 For the three months ended For the six months ended June 30, 2019 June 30, 2019 Restated net income per common share - basic $ 0.51 $ 0.97 Restated net income per common share - diluted $ 0.50 $ 0.97 Restated weighted-average common shares issued 7,286,542 7,278,620 Restated average treasury stock shares 784,034 778,214 Restated average shares outstanding - basic 6,502,508 6,500,406 Restated stock options and restricted stock 12,438 12,644 Restated average shares outstanding - diluted 6,514,946 6,513,050 Restated period ending shares outstanding 6,485,170 6,485,170 Restated treasury shares outstanding 807,824 807,824 |
Note 10 - Risks and Uncertainti
Note 10 - Risks and Uncertainties | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Risks and Uncertainties [Text Block] | NOTE 1 0 – RISKS AND UN CERTAINTIES COVID- 19 The following table provides information with respect to our commercial loans by type at June 30, 2020 19 At Risk Loans at June 30, 2020 Loan Type Number of Loans Balance % of Total Loans Retail 270 $ 195,550 17.6 % Multifamily & Residential NOO 354 120,697 10.9 % Ambulatory Care, Nursing/Rehabilitation and Social Assistance 218 81,491 7.3 % Hospitality and tourism 58 44,923 4.1 % Restaurant/food service/bar 136 24,938 2.2 % Other 219 20,208 1.8 % Total 1,255 $ 487,807 43.9 % The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed into law on March 27, 2020, 7 As of June 30, 2020, As of June 30, 2020, three Details with respect to actual commercial loan deferrals are as follows: Type Number of Loans Balance % of Total Loans Retail 58 $ 89,438 8.1 % Hospitality and tourism 23 35,700 3.2 % Ambulatory Care, Nursing/Rehabilitation and Social Assistance 10 22,456 2.0 % Multifamily & Residential NOO 16 7,628 0.7 % Restaurant/food service/bar 10 5,216 0.5 % Other 245 54,379 4.9 % Total 362 $ 214,817 19.4 % An eligible business can apply for a PPP loan up to the greater of: ( 1 2.5 2 $10.0 1.0%, two six 100% 75% 25% As of June 30, 2020, Number of Loans Loan Balance > $2 million 6 $ 14,774 $350,000 - $2 million 92 69,361 $150,000 - $350,000 96 20,768 < $150,000 1,108 36,397 Total 1,302 $ 141,300 Since the opening of the PPP, several larger banks have been subject to litigation regarding the process and procedures that those banks used in processing applications for the PPP. Middlefield Bank may not may Middlefield Bank also has credit risk on PPP loans if a determination is made by the SBA that there is a deficiency in the manner in which the loan was originated, funded, or serviced by Middlefield Bank, such as an issue with the eligibility of a borrower to receive a PPP loan, which may may not may COVID- 19 4013 may not 1 19; 2 not 30 December 31, 2019; 3 March 1, 2020, 60 COVID–19 March 13, 2020, December 31, 2020. Interagency Stateme nt on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised) April 7, 2020, not 4013 19 not six 8 June 30, 2020. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (“CECL”) first November 2019, 2019 10, Financial Instruments ‒ Credit Losses (Topic 326 815 842 2016 13 December 15, 2022, In November 2019, 2019 11, Codification Improvements to Topic 326, 326, 2019 10. In March 2020, 2020 3 , Codification Improvements to Financial Instruments. 2016. seven not 825, Financial Instruments 842 326. 2019 04 December 15, 2019, not 2016 01. 2016 13 not 2016 13. not 2016 13. 2016 13 December 15, 2019, |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification of Comparative Amounts Certain comparative amounts for prior years have been reclassified to conform to current-year presentations. Such reclassifications did not |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the Three Months Ended June 30, For the Six Months Ended June 30, Noninterest Income 2020 2019 2020 2019 (Dollar amounts in thousands) Service charges on deposit accounts: Overdraft fees $ 122 $ 190 $ 312 $ 438 ATM banking fees 263 241 473 435 Service charges and other fees 181 99 334 165 Investment securities gains on sale, net (a) - 190 - 190 Gain (loss) on equity securities (a) 31 (14 ) (129 ) 44 Earnings on bank-owned life insurance (a) 105 109 212 214 Gain on sale of loans (a) 381 98 495 157 Revenue from investment services 137 124 268 262 Other income 275 262 604 526 Total noninterest income $ 1,495 $ 1,299 $ 2,569 $ 2,431 Net gain on other real estate owned $ 62 $ 63 $ 62 $ 106 |
Note 3 - Stock-based Compensa_2
Note 3 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted- average Exercise Price Shares Per Share Outstanding, January 1, 2020 14,500 $ 8.78 Exercised (1,000 ) 8.78 Outstanding, June 30, 2020 13,500 $ 8.78 Exercisable, June 30, 2020 13,500 $ 8.78 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Weighted- average Grant Date Fair Units Value Per Unit Nonvested at January 1, 2020 61,040 $ 21.73 Granted 23,648 26.09 Nonvested at June 30, 2020 84,688 $ 22.94 Expected to vest as of June 30, 2020 1,000 $ 22.65 |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | For the Three For the Six Months Ended Months Ended June 30, June 30, 2020 2019 2020 2019 Weighted-average common shares issued 7,298,829 7,286,542 7,298,785 7,278,620 Average treasury stock shares (929,362 ) (784,034 ) (905,497 ) (778,214 ) Weighted-average common shares and common stock equivalents used to calculate basic earnings per share 6,369,467 6,502,508 6,393,288 6,500,406 Additional common stock equivalents (stock options and restricted stock) used to calculate diluted earnings per share 18,651 12,438 19,297 12,644 Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share 6,388,118 6,514,946 6,412,585 6,513,050 |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | June 30, 2020 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: Subordinated debt $ - $ 11,289 $ - $ 11,289 Obligations of states and political subdivisions - 84,540 - 84,540 Mortgage-backed securities in government-sponsored entities - 16,700 - 16,700 Total debt securities - 112,529 - 112,529 Equity securities in financial institutions 581 - - 581 Total $ 581 $ 112,529 $ - $ 113,110 December 31, 2019 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: Subordinated debt $ - $ 4,126 $ - $ 4,126 Obligations of states and political subdivisions - 82,977 - 82,977 Mortgage-backed securities in government-sponsored entities - 18,630 - 18,630 Total debt securities - 105,733 - 105,733 Equity securities in financial institutions 710 - - 710 Total $ 710 $ 105,733 $ - $ 106,443 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | June 30, 2020 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 4,729 $ 4,729 December 31, 2019 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ - $ - $ 5,166 $ 5,166 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Range (Weighted Fair Value Estimate Valuation Techniques Unobservable Input Average) June 30, 2020 Impaired loans $ 4,729 Appraisal of collateral (1) Appraisal adjustments (2) 29.8% to 46.2% (34.7%) Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Range (Weighted Fair Value Estimate Valuation Techniques Unobservable Input Average) December 31, 2019 Impaired loans $ 5,166 Appraisal of collateral (1) Appraisal adjustments (2) 40.3% to 47.4% (41.8%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2020 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Cash and cash equivalents $ 58,286 $ 58,286 $ - $ - $ 58,286 Loans held for sale 4,151 - 4,151 - 4,151 Net loans 1,100,049 - - 1,100,623 1,100,623 Bank-owned life insurance 16,723 16,723 - - 16,723 Federal Home Loan Bank stock 5,448 5,448 - - 5,448 Accrued interest receivable 5,541 5,541 - - 5,541 Financial liabilities: Deposits $ 1,158,267 $ 794,847 $ - $ 369,173 $ 1,164,020 Short-term borrowings 20,417 20,417 - - 20,417 Other borrowings 17,162 - - 13,211 13,211 Accrued interest payable 899 899 - - 899 December 31, 2019 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Cash and cash equivalents $ 35,113 $ 35,113 $ - $ - $ 35,113 Loans held for sale 1,220 - 1,220 - 1,220 Net loans 977,490 - - 974,213 974,213 Bank-owned life insurance 16,511 16,511 - - 16,511 Federal Home Loan Bank stock 3,848 3,848 - - 3,848 Accrued interest receivable 3,471 3,471 - - 3,471 Financial liabilities: Deposits $ 1,020,843 $ 652,043 $ - $ 371,193 $ 1,023,236 Short-term borrowings 5,075 5,075 - - 5,075 Other borrowings 12,750 - - 12,783 12,783 Accrued interest payable 917 917 - - 917 |
Note 6 - Accumulated Other Co_2
Note 6 - Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Unrealized gains/(losses) on available-for-sale securities (a) Balance as of March 31, 2020 $ (2,237 ) Other comprehensive income 5,998 Balance at June 30, 2020 $ 3,761 Balance as of December 31, 2019 $ 1,842 Other comprehensive income 1,919 Balance at June 30, 2020 $ 3,761 (Dollars in thousands) Unrealized gains/(losses) on available-for-sale securities (a) Balance as of March 31, 2019 $ 641 Other comprehensive income 886 Amount reclassified from accumulated other comprehensive income (150 ) Period change 736 Balance at June 30, 2019 $ 1,377 Balance as of December 31, 2018 $ (154 ) Other comprehensive income 1,681 Amount reclassified from accumulated other comprehensive income (150 ) Period change 1,531 Balance at June 30, 2019 $ 1,377 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | Amounts Reclassified from Accumulated Other Affected Line Item in Comprehensive Income the Statement Where (Dollars in thousands) For the Three and Six Months Ended Net Income is Details about other comprehensive income June 30, 2020 June 30, 2019 Presented Unrealized gains on available-for-sale securities (a) $ - $ 190 Investment securities gains on sale, net - (40 ) Income taxes $ - $ 150 |
Note 7 - Investment and Equit_2
Note 7 - Investment and Equity Securities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | June 30, 2020 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Subordinated debt $ 11,050 $ 239 $ - $ 11,289 Obligations of states and political subdivisions: Taxable 500 2 - 502 Tax-exempt 80,155 3,883 - 84,038 Mortgage-backed securities in government-sponsored entities 16,063 637 - 16,700 Total $ 107,768 $ 4,761 $ - $ 112,529 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Subordinated debt $ 4,000 $ 126 $ - $ 4,126 Obligations of states and political subdivisions: Taxable 500 1 - 501 Tax-exempt 80,436 2,065 (25 ) 82,476 Mortgage-backed securities in government-sponsored entities 18,465 274 (109 ) 18,630 Total $ 103,401 $ 2,466 $ (134 ) $ 105,733 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 3 $ 3 Due after one year through five years 887 911 Due after five years through ten years 22,176 22,713 Due after ten years 84,702 88,902 Total $ 107,768 $ 112,529 |
Realized Gain (Loss) on Investments [Table Text Block] | (Dollars amounts in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 Proceeds from sales $ - $ 11,807 $ - $ 11,807 Gross realized gains - 223 - 223 Gross realized losses - (33 ) - (33 ) |
Schedule of Unrealized Loss on Investments [Table Text Block] | December 31, 2019 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollar amounts in thousands) Value Losses Value Losses Value Losses Obligations of states and political subdivisions: Tax-exempt $ 4,324 $ (25 ) $ - $ - $ 4,324 $ (25 ) Mortgage-backed securities in government-sponsored entities 1,409 (2 ) 8,223 (107 ) 9,632 (109 ) Total $ 5,733 $ (27 ) $ 8,223 $ (107 ) $ 13,956 $ (134 ) |
Note 8 - Loans and Related Al_2
Note 8 - Loans and Related Allowance for Loan and Lease Losses (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule Of Financing Receivable By Segment [Table Text Block] | June 30, 2020 Impairment Evaluation Individually Collectively Total Loans Loans: Commercial real estate: Owner occupied $ 3,486 $ 106,648 $ 110,134 Non-owner occupied 14,685 285,892 300,577 Multifamily - 37,604 37,604 Residential real estate 1,259 226,168 227,427 Commercial and industrial 1,127 238,969 240,096 Home equity lines of credit 347 116,849 117,196 Construction and other - 66,015 66,015 Consumer installment - 11,210 11,210 Total $ 20,904 $ 1,089,355 $ 1,110,259 December 31, 2019 Impairment Evaluation Individually Collectively Total Loans Loans: Commercial real estate: Owner occupied $ 3,474 $ 98,912 $ 102,386 Non-owner occupied 7,084 295,096 302,180 Multifamily - 62,028 62,028 Residential real estate 1,278 233,520 234,798 Commercial and industrial 882 88,645 89,527 Home equity lines of credit 351 111,897 112,248 Construction and other - 66,680 66,680 Consumer installment 1 14,410 14,411 Total $ 13,070 $ 971,188 $ 984,258 |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | June 30, 2020 Ending Allowance Balance Attributable to Loans: Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Allocation Loans: Commercial real estate: Owner occupied $ 10 $ 1,028 $ 1,038 Non-owner occupied 1,874 3,285 5,159 Multifamily - 291 291 Residential real estate 22 1,145 1,167 Commercial and industrial 43 1,062 1,105 Home equity lines of credit 27 1,176 1,203 Construction and other - 236 236 Consumer installment - 11 11 Total $ 1,976 $ 8,234 $ 10,210 December 31, 2019 Ending Allowance Balance Attributable to Loans: Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Allocation Loans: Commercial real estate: Owner occupied $ 45 $ 756 $ 801 Non-owner occupied 582 2,800 3,382 Multifamily - 340 340 Residential real estate 28 698 726 Commercial and industrial 3 453 456 Home equity lines of credit 2 930 932 Construction and other - 103 103 Consumer installment - 28 28 Total $ 660 $ 6,108 $ 6,768 For the six months ended June 30, 2020 Allowance for Loan and Lease Losses Balance Balance December 31, 2019 Charge-offs Recoveries Provision June 30, 2020 Loans: Commercial real estate: Owner occupied $ 801 $ (50 ) $ 14 $ 273 $ 1,038 Non-owner occupied 3,382 - 74 1,703 5,159 Multifamily 340 - - (49 ) 291 Residential real estate 726 (51 ) 30 462 1,167 Commercial and industrial 456 (170 ) 239 580 1,105 Home equity lines of credit 932 (54 ) 16 309 1,203 Construction and other 103 - 34 99 236 Consumer installment 28 (391 ) 11 363 11 Total $ 6,768 $ (716 ) $ 418 $ 3,740 $ 10,210 For the six months ended June 30, 2019 Allowance for Loan and Lease Losses Balance Balance December 31, 2018 Charge-offs Recoveries Provision June 30, 2019 Loans: Commercial real estate: Owner occupied $ 1,315 $ (32 ) $ 2 $ (419 ) $ 866 Non-owner occupied 2,862 - - 726 3,588 Multifamily 474 - - (62 ) 412 Residential real estate 761 - 39 (53 ) 747 Commercial and industrial 969 (355 ) 40 (115 ) 539 Home equity lines of credit 820 (138 ) 7 247 936 Construction and other 100 - 45 (48 ) 97 Consumer installment 127 (88 ) 6 74 119 Total $ 7,428 $ (613 ) $ 139 $ 350 $ 7,304 For the three months ended June 30, 2020 Allowance for Loan and Lease Losses Balance Balance March 31, 2020 Charge-offs Recoveries Provision June 30, 2020 Loans: Commercial real estate: Owner occupied $ 1,099 $ (50 ) $ 11 $ (22 ) $ 1,038 Non-owner occupied 4,364 - - 795 5,159 Multifamily 386 - - (95 ) 291 Residential real estate 1,164 (5 ) - 8 1,167 Commercial and industrial 716 (109 ) 132 366 1,105 Home equity lines of credit 1,240 (41 ) 12 (8 ) 1,203 Construction and other 254 - 17 (35 ) 236 Consumer installment 21 (3 ) 2 (9 ) 11 Total $ 9,244 $ (208 ) $ 174 $ 1,000 $ 10,210 For the three months ended June 30, 2019 Allowance for Loan and Lease Losses Balance Balance March 31, 2019 Charge-offs Recoveries Provision June 30, 2019 Loans: Commercial real estate: Owner occupied $ 830 $ - $ 1 $ 35 $ 866 Non-owner occupied 2,857 - - 731 3,588 Multifamily 492 - - (80 ) 412 Residential real estate 773 - 30 (56 ) 747 Commercial and industrial 586 (9 ) 24 (62 ) 539 Home equity lines of credit 832 (48 ) 3 149 936 Construction and other 748 - 23 (674 ) 97 Consumer installment 88 (41 ) 5 67 119 Total $ 7,206 $ (98 ) $ 86 $ 110 $ 7,304 |
Impaired Financing Receivables [Table Text Block] | June 30, 2020 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial real estate: Owner occupied $ 3,028 $ 3,033 $ - Non-owner occupied 7,538 7,538 - Residential real estate 781 908 - Commercial and industrial 659 1,148 - Home equity lines of credit 179 189 - Total $ 12,185 $ 12,816 $ - With an allowance recorded: Commercial real estate: Owner occupied $ 458 $ 458 $ 10 Non-owner occupied 7,147 7,147 1,874 Residential real estate 478 478 22 Commercial and industrial 468 468 43 Home equity lines of credit 168 168 27 Total $ 8,719 $ 8,719 $ 1,976 Total: Commercial real estate: Owner occupied $ 3,486 $ 3,491 $ 10 Non-owner occupied 14,685 14,685 1,874 Residential real estate 1,259 1,386 22 Commercial and industrial 1,127 1,616 43 Home equity lines of credit 347 357 27 Total $ 20,904 $ 21,535 $ 1,976 December 31, 2019 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial real estate: Owner occupied $ 1,772 $ 1,772 $ - Non-owner occupied 3,845 3,845 - Residential real estate 759 829 - Commercial and industrial 747 1,524 - Home equity lines of credit 220 228 - Consumer installment 1 1 - Total $ 7,344 $ 8,199 $ - With an allowance recorded: Commercial real estate: Owner occupied $ 1,702 $ 1,713 $ 45 Non-owner occupied 3,239 3,239 582 Residential real estate 519 569 28 Commercial and industrial 135 135 3 Home equity lines of credit 131 131 2 Total $ 5,726 $ 5,787 $ 660 Total: Commercial real estate: Owner occupied $ 3,474 $ 3,485 $ 45 Non-owner occupied 7,084 7,084 582 Residential real estate 1,278 1,398 28 Commercial and industrial 882 1,659 3 Home equity lines of credit 351 359 2 Consumer installment 1 1 - Total $ 13,070 $ 13,986 $ 660 |
Schedule of Additional Information Related to Impaired Loans [Table Text Block] | For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial real estate: Owner occupied $ 3,459 $ 32 $ 3,464 $ 65 Non-owner occupied 10,864 209 9,604 258 Residential real estate 1,206 14 1,230 25 Commercial and industrial 1,019 11 973 21 Home equity lines of credit 347 2 348 4 Consumer installment 1 - 1 - Total $ 16,896 $ 268 $ 15,620 $ 373 For the Three Months Ended June 30, 2019 For the Six Months Ended June 30, 2019 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Commercial real estate: Owner occupied $ 3,819 $ 35 $ 4,014 $ 72 Non-owner occupied 6,419 50 5,989 100 Residential real estate 1,716 15 1,761 27 Commercial and industrial 1,970 23 2,170 45 Home equity lines of credit 104 - 109 - Construction and other 1,620 - 1,080 - Consumer installment 2 - 2 - Total $ 15,650 $ 123 $ 15,125 $ 244 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special Total June 30, 2020 Pass Mention Substandard Doubtful Loans Commercial real estate: Owner occupied $ 103,644 $ 3,042 $ 3,448 $ - $ 110,134 Non-owner occupied 270,678 3,749 26,150 - 300,577 Multifamily 37,604 - - - 37,604 Residential real estate 224,316 410 2,701 - 227,427 Commercial and industrial 235,535 2,658 1,903 - 240,096 Home equity lines of credit 115,617 - 1,579 - 117,196 Construction and other 66,015 - - - 66,015 Consumer installment 11,191 - 19 - 11,210 Total $ 1,064,600 $ 9,859 $ 35,800 $ - $ 1,110,259 Special Total December 31, 2019 Pass Mention Substandard Doubtful Loans Commercial real estate: Owner occupied $ 95,518 $ 3,951 $ 2,917 $ - $ 102,386 Non-owner occupied 292,192 3,038 6,950 - 302,180 Multifamily 62,028 - - - 62,028 Residential real estate 231,633 420 2,745 - 234,798 Commercial and industrial 84,136 3,619 1,772 - 89,527 Home equity lines of credit 111,354 - 894 - 112,248 Construction and other 66,680 - - - 66,680 Consumer installment 14,398 - 13 - 14,411 Total $ 957,939 $ 11,028 $ 15,291 $ - $ 984,258 |
Financing Receivable, Past Due [Table Text Block] | 30-59 Days 60-89 Days 90 Days+ Total Total June 30, 2020 Current Past Due Past Due Past Due Past Due Loans Commercial real estate: Owner occupied $ 108,989 $ - $ 350 $ 795 $ 1,145 $ 110,134 Non-owner occupied 295,729 - 742 4,106 4,848 300,577 Multifamily 37,604 - - - - 37,604 Residential real estate 223,820 1,539 893 1,175 3,607 227,427 Commercial and industrial 239,836 160 - 100 260 240,096 Home equity lines of credit 116,818 189 50 139 378 117,196 Construction and other 60,524 5,491 - - 5,491 66,015 Consumer installment 10,977 - 1 232 233 11,210 Total $ 1,094,297 $ 7,379 $ 2,036 $ 6,547 $ 15,962 $ 1,110,259 30-59 Days 60-89 Days 90 Days+ Total Total December 31, 2019 Current Past Due Past Due Past Due Past Due Loans Commercial real estate: Owner occupied $ 101,264 $ 64 $ - $ 1,058 $ 1,122 $ 102,386 Non-owner occupied 298,941 - - 3,239 3,239 302,180 Multifamily 62,028 - - - - 62,028 Residential real estate 232,518 1,439 34 807 2,280 234,798 Commercial and industrial 88,965 190 66 306 562 89,527 Home equity lines of credit 111,792 274 29 153 456 112,248 Construction and other 66,680 - - - - 66,680 Consumer installment 13,378 622 216 195 1,033 14,411 Total $ 975,566 $ 2,589 $ 345 $ 5,758 $ 8,692 $ 984,258 |
Financing Receivable, Nonaccrual [Table Text Block] | 90+ Days Past Due June 30, 2020 Nonaccrual and Accruing Commercial real estate: Owner occupied $ 1,266 $ - Non-owner occupied 4,106 - Residential real estate 2,646 - Commercial and industrial 519 - Home equity lines of credit 1,021 - Consumer installment 245 - Total $ 9,803 $ - 90+ Days Past Due December 31, 2019 Nonaccrual and Accruing Commercial real estate: Owner occupied $ 1,162 $ - Non-owner occupied 3,289 - Residential real estate 2,576 - Commercial and industrial 946 - Home equity lines of credit 709 - Consumer installment 197 - Total $ 8,879 $ - |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | For the Six Months Ended June 30, 2020 Number of Contracts Pre-Modification Post-Modification Term Outstanding Recorded Outstanding Recorded Troubled Debt Restructurings Modification Other Total Investment Investment Residential real estate 1 - 1 $ 39 $ 39 Commercial and industrial 2 - 2 118 117 For the Three and Six Months Ended June 30, 2019 Number of Contracts Pre-Modification Post-Modification Term Outstanding Recorded Outstanding Recorded Troubled Debt Restructurings Modification Other Total Investment Investment Residential real estate - 1 1 $ 85 $ 140 |
Note 9 - Stock Split Disclosu_2
Note 9 - Stock Split Disclosure (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Effect of Stock Split [Table Text Block] | For the three months ended For the six months ended June 30, 2019 June 30, 2019 Restated net income per common share - basic $ 0.51 $ 0.97 Restated net income per common share - diluted $ 0.50 $ 0.97 Restated weighted-average common shares issued 7,286,542 7,278,620 Restated average treasury stock shares 784,034 778,214 Restated average shares outstanding - basic 6,502,508 6,500,406 Restated stock options and restricted stock 12,438 12,644 Restated average shares outstanding - diluted 6,514,946 6,513,050 Restated period ending shares outstanding 6,485,170 6,485,170 Restated treasury shares outstanding 807,824 807,824 |
Note 10 - Risks and Uncertain_2
Note 10 - Risks and Uncertainties (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Unusual Risks and Uncertainties [Table Text Block] | At Risk Loans at June 30, 2020 Loan Type Number of Loans Balance % of Total Loans Retail 270 $ 195,550 17.6 % Multifamily & Residential NOO 354 120,697 10.9 % Ambulatory Care, Nursing/Rehabilitation and Social Assistance 218 81,491 7.3 % Hospitality and tourism 58 44,923 4.1 % Restaurant/food service/bar 136 24,938 2.2 % Other 219 20,208 1.8 % Total 1,255 $ 487,807 43.9 % |
Schedule of Payment Deferrals on Financing Receivable [Table Text Block] | Type Number of Loans Balance % of Total Loans Retail 58 $ 89,438 8.1 % Hospitality and tourism 23 35,700 3.2 % Ambulatory Care, Nursing/Rehabilitation and Social Assistance 10 22,456 2.0 % Multifamily & Residential NOO 16 7,628 0.7 % Restaurant/food service/bar 10 5,216 0.5 % Other 245 54,379 4.9 % Total 362 $ 214,817 19.4 % |
Schedule of Loans That Could Be Forgiven [Table Text Block] | Number of Loans Loan Balance > $2 million 6 $ 14,774 $350,000 - $2 million 92 69,361 $150,000 - $350,000 96 20,768 < $150,000 1,108 36,397 Total 1,302 $ 141,300 |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) | 6 Months Ended |
Jun. 30, 2020 | |
Revenue from Interest Income and Noninterest Income, Percent | 92.40% |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Investment securities gains on sale, net | [1] | $ 0 | $ 190,000 | $ 0 | $ 190,000 |
Gain on equity securities | [1] | 31,000 | (14,000) | (129,000) | 44,000 |
Earnings on bank-owned life insurance | [1] | 105,000 | 109,000 | 212,000 | 214,000 |
Gain on sale of loans | [1] | 381,000 | 98,000 | 495,000 | 157,000 |
Revenue from investment services | 137,000 | 124,000 | 268,000 | 262,000 | |
Other income | 275,000 | 262,000 | 604,000 | 526,000 | |
Total noninterest income | 1,495,000 | 1,299,000 | 2,569,000 | 2,431,000 | |
Net gain on other real estate owned | 62,000 | 63,000 | 62,000 | 106,000 | |
Overdraft Fees [Member] | |||||
Noninterest income revenue | 122,000 | 190,000 | 312,000 | 438,000 | |
ATM Banking Fees [Member] | |||||
Noninterest income revenue | 263,000 | 241,000 | 473,000 | 435,000 | |
Service Charge and Other Fees [Member] | |||||
Noninterest income revenue | $ 181,000 | $ 99,000 | $ 334,000 | $ 165,000 | |
[1] | Not within scope of ASC 606 |
Note 3 - Stock-based Compensa_3
Note 3 - Stock-based Compensation (Details Textual) - USD ($) shares in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 0 | 0 | 0 | 0 | ||||
Share-based Payment Arrangement, Expense | $ 294,000 | $ 0 | $ 113,000 | $ 90,000 | ||||
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | 581,000 | $ 236,000 | 581,000 | $ 236,000 | ||||
Restricted Stock [Member] | ||||||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 374,000 | $ 374,000 | ||||||
Restricted Stock [Member] | Forecast [Member] | ||||||||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 7,000 | $ 63,000 | $ 180,000 | $ 124,000 |
Note 3 - Stock-based Compensa_4
Note 3 - Stock-based Compensation - Stock Option Activity (Details) | 6 Months Ended |
Jun. 30, 2020$ / sharesshares | |
Outstanding (in shares) | shares | 14,500 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 8.78 |
Exercised (in shares) | shares | (1,000) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 8.78 |
Outstanding (in shares) | shares | 13,500 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 8.78 |
Exercisable (in shares) | shares | 13,500 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 8.78 |
Note 3 - Stock-based Compensa_5
Note 3 - Stock-based Compensation - Activity Related to Restricted Stock Units Awarded (Details) - Restricted Stock [Member] | 6 Months Ended |
Jun. 30, 2020$ / sharesshares | |
Nonvested (in shares) | shares | 61,040 |
Nonvested, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 21.73 |
Granted (in shares) | shares | 23,648 |
Granted, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 26.09 |
Nonvested (in shares) | shares | 84,688 |
Nonvested, weighted average grant date fair value per share (in dollars per share) | $ / shares | $ 22.94 |
Expected to vest as of June 30, 2020 (in shares) | shares | 1,000 |
Expected to vest as of June 30, 2020 (in dollars per share) | $ / shares | $ 22.65 |
Note 4 - Earnings Per Share (De
Note 4 - Earnings Per Share (Details Textual) - $ / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 13,500 | 14,500 | 13,500 | 14,500 | 14,500 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 8.78 | $ 8.78 | $ 8.78 | $ 8.78 | $ 8.78 |
Treasury Stock, Shares, Ending Balance (in shares) | 929,362 | 807,824 | 929,362 | 807,824 | 871,162 |
Treasury Stock, Shares, Acquired (in shares) | 35,494 | 58,200 | 35,494 | ||
Employee Stock Option and Restricted Stock [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 73,147 | 0 | 0 | 0 | |
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 84,688 | 61,334 | 84,688 | 61,334 | 61,040 |
Note 4 - Earnings Per Share - S
Note 4 - Earnings Per Share - Shares Used in Calculation of Earnings Per Share (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Weighted-average common shares issued (in shares) | 7,298,829 | 7,286,542 | 7,298,785 | 7,278,620 |
Average treasury stock shares (in shares) | (929,362) | (784,034) | (905,497) | (778,214) |
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share (in shares) | 6,369,467 | 6,502,508 | 6,393,288 | 6,500,406 |
Additional common stock equivalents (stock options and restricted stock) used to calculate diluted earnings per share (in shares) | 18,651 | 12,438 | 19,297 | 12,644 |
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share (in shares) | 6,388,118 | 6,514,946 | 6,412,585 | 6,513,050 |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Estimated Selling Costs of Impaired Loans | $ 2.1 | $ 2.1 |
Note 5 - Fair Value Measureme_4
Note 5 - Fair Value Measurements - Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Total debt securities | $ 112,529 | $ 105,733 |
Equity securities in financial institutions | 581 | 710 |
Investment securities available for sale, at fair value | 112,529 | 105,733 |
Subordinated Debt Securities [Member] | ||
Total debt securities | 11,289 | 4,126 |
Investment securities available for sale, at fair value | 11,289 | 4,126 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 16,700 | 18,630 |
Investment securities available for sale, at fair value | 16,700 | 18,630 |
Fair Value, Recurring [Member] | ||
Total debt securities | 112,529 | 105,733 |
Equity securities in financial institutions | 581 | 710 |
Total | 113,110 | 106,443 |
Investment securities available for sale, at fair value | 112,529 | 105,733 |
Fair Value, Recurring [Member] | Subordinated Debt Securities [Member] | ||
Total debt securities | 11,289 | 4,126 |
Investment securities available for sale, at fair value | 11,289 | 4,126 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total debt securities | 84,540 | 82,977 |
Investment securities available for sale, at fair value | 84,540 | 82,977 |
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 16,700 | 18,630 |
Investment securities available for sale, at fair value | 16,700 | 18,630 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total debt securities | 0 | 0 |
Equity securities in financial institutions | 581 | 710 |
Total | 581 | 710 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Subordinated Debt Securities [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total debt securities | 112,529 | 105,733 |
Equity securities in financial institutions | 0 | 0 |
Total | 112,529 | 105,733 |
Investment securities available for sale, at fair value | 112,529 | 105,733 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Subordinated Debt Securities [Member] | ||
Total debt securities | 11,289 | 4,126 |
Investment securities available for sale, at fair value | 11,289 | 4,126 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total debt securities | 84,540 | 82,977 |
Investment securities available for sale, at fair value | 84,540 | 82,977 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 16,700 | 18,630 |
Investment securities available for sale, at fair value | 16,700 | 18,630 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total debt securities | 0 | 0 |
Equity securities in financial institutions | 0 | 0 |
Total | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Subordinated Debt Securities [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Total debt securities | 0 | 0 |
Investment securities available for sale, at fair value | $ 0 | $ 0 |
Note 5 - Fair Value Measureme_5
Note 5 - Fair Value Measurements - Assets Measured on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Impaired loans | $ 20,904 | $ 13,070 |
Fair Value, Nonrecurring [Member] | ||
Impaired loans | 4,729 | 5,166 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||
Impaired loans | $ 4,729 | $ 5,166 |
Note 5 - Fair Value Measureme_6
Note 5 - Fair Value Measurements - Additional Quantitative Information About Assets Measured at Fair Value on Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - Fair Value, Inputs, Level 3 [Member] - Appraisal of Collateral [Member] $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Impaired loans, fair value estimate | [1] | $ 4,729 | $ 5,166 |
Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
Impaired loans, discount rate | [2] | 0.298 | 0.403 |
Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
Impaired loans, discount rate | [2] | 0.462 | 0.474 |
Weighted Average [Member] | Measurement Input, Discount Rate [Member] | |||
Impaired loans, discount rate | [2] | (0.347) | (0.418) |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs which are not identifiable, less any associated allowance. | ||
[2] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Note 5 - Fair Value Measureme_7
Note 5 - Fair Value Measurements - Estimated Fair Value of the Company's Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Reported Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | $ 58,286 | $ 35,113 |
Loans held for sale | 4,151 | 1,220 |
Net loans | 1,100,049 | 977,490 |
Bank-owned life insurance | 16,723 | 16,511 |
Federal Home Loan Bank stock | 5,448 | 3,848 |
Accrued interest receivable | 5,541 | 3,471 |
Financial liabilities: | ||
Deposits | 1,158,267 | 1,020,843 |
Short-term borrowings | 20,417 | 5,075 |
Other borrowings | 17,162 | 12,750 |
Accrued interest payable | 899 | 917 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 58,286 | 35,113 |
Loans held for sale | 4,151 | 1,220 |
Net loans | 1,100,623 | 974,213 |
Bank-owned life insurance | 16,723 | 16,511 |
Federal Home Loan Bank stock | 5,448 | 3,848 |
Accrued interest receivable | 5,541 | 3,471 |
Financial liabilities: | ||
Deposits | 1,164,020 | 1,023,236 |
Short-term borrowings | 20,417 | 5,075 |
Other borrowings | 13,211 | 12,783 |
Accrued interest payable | 899 | 917 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 58,286 | 35,113 |
Loans held for sale | 0 | 0 |
Net loans | 0 | 0 |
Bank-owned life insurance | 16,723 | 16,511 |
Federal Home Loan Bank stock | 5,448 | 3,848 |
Accrued interest receivable | 5,541 | 3,471 |
Financial liabilities: | ||
Deposits | 794,847 | 652,043 |
Short-term borrowings | 20,417 | 5,075 |
Other borrowings | 0 | 0 |
Accrued interest payable | 899 | 917 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Loans held for sale | 4,151 | 1,220 |
Net loans | 0 | 0 |
Bank-owned life insurance | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial liabilities: | ||
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Other borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Loans held for sale | 0 | 0 |
Net loans | 1,100,623 | 974,213 |
Bank-owned life insurance | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial liabilities: | ||
Deposits | 369,173 | 371,193 |
Short-term borrowings | 0 | 0 |
Other borrowings | 13,211 | 12,783 |
Accrued interest payable | $ 0 | $ 0 |
Note 6 - Accumulated Other Co_3
Note 6 - Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||||
Balance | $ 132,687 | $ 131,699 | $ 137,775 | $ 128,290 | |||
Total other comprehensive income | 5,998 | 736 | [1] | 1,919 | 1,531 | [1] | |
Other comprehensive income, before reclassification | [1] | 1,681 | |||||
Amount reclassified from accumulated other comprehensive income | [1] | (150) | (150) | ||||
Total other comprehensive income | 5,998 | 736 | [1] | 1,919 | 1,531 | [1] | |
Balance | 140,695 | 134,260 | 140,695 | 134,260 | |||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||||
Balance | [1] | (2,237) | 641 | 1,842 | (154) | ||
Total other comprehensive income | [1] | 5,998 | 1,919 | ||||
Other comprehensive income, before reclassification | [1] | 886 | |||||
Total other comprehensive income | [1] | 5,998 | 1,919 | ||||
Balance | [1] | $ 3,761 | $ 1,377 | $ 3,761 | $ 1,377 | ||
[1] | All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. |
Note 6 - Accumulated Other Co_4
Note 6 - Accumulated Other Comprehensive Income - Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | ||
Investment securities gains on sale, net | [1] | $ 0 | $ 190 |
Income taxes | [1] | 0 | (40) |
Net of tax | $ 0 | $ 150 | |
[1] | For unrealized gains on available-for-sale securities, amounts in parentheses indicate expenses and other amounts indicate income. |
Note 7 - Investment and Equit_3
Note 7 - Investment and Equity Securities (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | ||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | [1] | $ 31,000 | $ (14,000) | $ (129,000) | $ 44,000 | |
Equity Securities, FV-NI, Realized Gain (Loss), Total | 0 | 0 | 0 | 0 | ||
Proceeds from Sale of Debt Securities, Available-for-sale | 0 | $ 11,807,000 | 0 | 11,807,000 | ||
Security Owned and Pledged as Collateral, Fair Value, Total | $ 53,600,000 | $ 53,600,000 | $ 55,600,000 | |||
Available-for-sale Securities, Percentage of Portfolio | 90.00% | 90.00% | ||||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | $ 0 | ||||
[1] | Not within scope of ASC 606 |
Note 7 - Investment and Equit_4
Note 7 - Investment and Equity Securities - Amortized Cost and Fair Values of Securities Available for Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Amortized cost | $ 107,768 | $ 103,401 |
Gross unrealized gains | 4,761 | 2,466 |
Gross unrealized losses | 0 | (134) |
Investment securities available for sale, at fair value | 112,529 | 105,733 |
Subordinated Debt Securities [Member] | ||
Amortized cost | 11,050 | 4,000 |
Gross unrealized gains | 239 | 126 |
Gross unrealized losses | 0 | 0 |
Investment securities available for sale, at fair value | 11,289 | 4,126 |
Taxable Municipal Bonds [Member] | ||
Amortized cost | 500 | 500 |
Gross unrealized gains | 2 | 1 |
Gross unrealized losses | 0 | 0 |
Investment securities available for sale, at fair value | 502 | 501 |
Nontaxable Municipal Bonds [Member] | ||
Amortized cost | 80,155 | 80,436 |
Gross unrealized gains | 3,883 | 2,065 |
Gross unrealized losses | 0 | (25) |
Investment securities available for sale, at fair value | 84,038 | 82,476 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Amortized cost | 16,063 | 18,465 |
Gross unrealized gains | 637 | 274 |
Gross unrealized losses | 0 | (109) |
Investment securities available for sale, at fair value | $ 16,700 | $ 18,630 |
Note 7 - Investment and Equit_5
Note 7 - Investment and Equity Securities - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Due in one year or less, amortized costs | $ 3 | |
Due in one year or less, fair value | 3 | |
Due after one year through five years, amortized costs | 887 | |
Due after one year through five years, fair value | 911 | |
Due after five years through ten years, amortized costs | 22,176 | |
Due after five years through ten years, fair value | 22,713 | |
Due after ten years, amortized costs | 84,702 | |
Due after ten years, fair value | 88,902 | |
Amortized costs | 107,768 | $ 103,401 |
Fair Value | $ 112,529 | $ 105,733 |
Note 7 - Investment and Equit_6
Note 7 - Investment and Equity Securities - Sales of Available for Sale Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Proceeds from Sale of Debt Securities, Available-for-sale | $ 0 | $ 11,807 | $ 0 | $ 11,807 |
Gross realized gains | 0 | 223 | 0 | 223 |
Gross realized losses | $ 0 | $ (33) | $ 0 | $ (33) |
Note 7 - Investment and Equit_7
Note 7 - Investment and Equity Securities - Gross Unrealized Losses and Fair Value (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Less than Twelve Months, Fair Value | $ 5,733 |
Less than Twelve Months, Gross Unrealized Losses | (27) |
Twelve Months or Greater, Fair Value | 8,223 |
Twelve Months or Greater, Gross Unrealized Losses | (107) |
Total, Fair Value | 13,956 |
Total, Gross Unrealized Losses | (134) |
Nontaxable Municipal Bonds [Member] | |
Less than Twelve Months, Fair Value | 4,324 |
Less than Twelve Months, Gross Unrealized Losses | (25) |
Twelve Months or Greater, Fair Value | 0 |
Twelve Months or Greater, Gross Unrealized Losses | 0 |
Total, Fair Value | 4,324 |
Total, Gross Unrealized Losses | (25) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |
Less than Twelve Months, Fair Value | 1,409 |
Less than Twelve Months, Gross Unrealized Losses | (2) |
Twelve Months or Greater, Fair Value | 8,223 |
Twelve Months or Greater, Gross Unrealized Losses | (107) |
Total, Fair Value | 9,632 |
Total, Gross Unrealized Losses | $ (109) |
Note 8 - Loans and Related Al_3
Note 8 - Loans and Related Allowance for Loan and Lease Losses (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Loans and Leases Receivable, Deferred Income, Total | $ 4,700,000 | $ 1,300,000 | $ 4,700,000 | $ 1,300,000 | |||||
Financing Receivable, Troubled Debt Restructuring | 3,200,000 | 3,600,000 | 3,200,000 | 3,600,000 | |||||
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 37,000 | 33,000 | |||||||
Number of Days Past Due (Day) | 90 days | ||||||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 128,000 | 47,000 | $ 228,000 | 342,000 | |||||
Provision for Loan and Lease Losses, Total | 1,000,000 | $ 110,000 | 3,740,000 | $ 350,000 | |||||
Allowance for Loan and Lease Losses, Write-offs | 208,000 | 98,000 | 716,000 | 613,000 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 10,210,000 | 6,768,000 | $ 7,304,000 | $ 10,210,000 | $ 7,304,000 | 6,768,000 | $ 9,244,000 | $ 7,206,000 | $ 7,428,000 |
Financing Receivable, Modifications, Number of Contracts | 0 | ||||||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |||||
Increase in Specific Reserve [Member] | |||||||||
Provision for Loan and Lease Losses, Total | $ 776,000 | $ 1,300,000 | |||||||
Commercial And Industrial [Member] | |||||||||
Provision for Loan and Lease Losses, Total | 366,000 | $ (62,000) | 580,000 | $ (115,000) | |||||
Allowance for Loan and Lease Losses, Write-offs | 109,000 | 9,000 | 170,000 | 355,000 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 1,105,000 | 456,000 | 539,000 | $ 1,105,000 | 539,000 | 456,000 | 716,000 | 586,000 | 969,000 |
Financing Receivable, Modifications, Number of Contracts | 2 | ||||||||
Construction and Other [Member] | |||||||||
Provision for Loan and Lease Losses, Total | (35,000) | (674,000) | $ 99,000 | (48,000) | |||||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | 0 | 0 | |||||
Loans and Leases Receivable, Allowance, Ending Balance | 236,000 | $ 103,000 | 97,000 | 236,000 | 97,000 | $ 103,000 | $ 254,000 | $ 748,000 | $ 100,000 |
Threshold For Loans Evaluated For Impairment [Member] | |||||||||
Loans and Leases Receivable, before Fees, Gross | 500,000 | 500,000 | |||||||
Threshold For Loans Evaluated For Impairment [Member] | Outside Consultant [Member] | |||||||||
Loans and Leases Receivable, before Fees, Gross | 250,000 | 250,000 | |||||||
Threshold For Loans Evaluated For Impairment [Member] | Criticized Relationships [Member] | |||||||||
Financing Receivable, before Allowance for Credit Loss, Total | 150,000 | 150,000 | |||||||
Provision Fluctuation [Member] | Commercial And Industrial [Member] | |||||||||
Allowance for Loan and Lease Losses, Write-offs | 336,000 | ||||||||
Loans and Leases Receivable, Allowance, Ending Balance | 358,000 | 358,000 | |||||||
Provision Fluctuation [Member] | Construction and Other [Member] | |||||||||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | $ 661,000 | $ 661,000 | |||||||
Provision Fluctuation [Member] | COVID-19 [Member] | |||||||||
Allowance for Loan and Lease Losses, Period Increase (Decrease), Total | 2,200,000 | ||||||||
Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | |||||||||
Loans and Leases Receivable, Deferred Income, Total | 4,000,000 | 4,000,000 | |||||||
Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | Commercial And Industrial [Member] | |||||||||
Provision for Loan and Lease Losses, Total | $ 423,000 | $ 423,000 |
Note 8 - Loans and Related Al_4
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Primary Segments of the Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Individually evaluated for impairment | $ 20,904 | $ 13,070 |
Collectively evaluated for impairment | 1,089,355 | 971,188 |
Total loans | 1,110,259 | 984,258 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Individually evaluated for impairment | 3,486 | 3,474 |
Collectively evaluated for impairment | 106,648 | 98,912 |
Total loans | 110,134 | 102,386 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Individually evaluated for impairment | 14,685 | 7,084 |
Collectively evaluated for impairment | 285,892 | 295,096 |
Total loans | 300,577 | 302,180 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 37,604 | 62,028 |
Total loans | 37,604 | 62,028 |
Residential Portfolio Segment [Member] | ||
Individually evaluated for impairment | 1,259 | 1,278 |
Collectively evaluated for impairment | 226,168 | 233,520 |
Total loans | 227,427 | 234,798 |
Commercial And Industrial [Member] | ||
Individually evaluated for impairment | 1,127 | 882 |
Collectively evaluated for impairment | 238,969 | 88,645 |
Total loans | 240,096 | 89,527 |
Home Equity Lines of Credit [Member] | ||
Individually evaluated for impairment | 347 | 351 |
Collectively evaluated for impairment | 116,849 | 111,897 |
Total loans | 117,196 | 112,248 |
Construction and Other [Member] | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 66,015 | 66,680 |
Total loans | 66,015 | 66,680 |
Consumer Portfolio Segment [Member] | ||
Individually evaluated for impairment | 0 | 1 |
Collectively evaluated for impairment | 11,210 | 14,410 |
Total loans | $ 11,210 | $ 14,411 |
Note 8 - Loans and Related Al_5
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | |
Individually evaluated for impairment | $ 1,976 | $ 660 | ||||
Collectively evaluated for impairment | 8,234 | 6,108 | ||||
Less: allowance for loan and lease losses | $ 9,244 | $ 7,206 | $ 6,768 | $ 7,304 | 10,210 | 6,768 |
Beginning balance | 9,244 | 7,206 | 6,768 | 7,428 | ||
Charge-offs | (208) | (98) | (716) | (613) | ||
Recoveries | 174 | 86 | 418 | 139 | ||
Provision | 1,000 | 110 | 3,740 | 350 | ||
Ending balance | 10,210 | 7,304 | 10,210 | 7,304 | ||
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||||||
Individually evaluated for impairment | 10 | 45 | ||||
Collectively evaluated for impairment | 1,028 | 756 | ||||
Less: allowance for loan and lease losses | 1,099 | 830 | 801 | 866 | 1,038 | 801 |
Beginning balance | 1,099 | 830 | 801 | 1,315 | ||
Charge-offs | (50) | 0 | (50) | (32) | ||
Recoveries | 11 | 1 | 14 | 2 | ||
Provision | (22) | 35 | 273 | (419) | ||
Ending balance | 1,038 | 866 | 1,038 | 866 | ||
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||||||
Individually evaluated for impairment | 1,874 | 582 | ||||
Collectively evaluated for impairment | 3,285 | 2,800 | ||||
Less: allowance for loan and lease losses | 4,364 | 2,857 | 3,382 | 3,588 | 5,159 | 3,382 |
Beginning balance | 4,364 | 2,857 | 3,382 | 2,862 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 74 | 0 | ||
Provision | 795 | 731 | 1,703 | 726 | ||
Ending balance | 5,159 | 3,588 | 5,159 | 3,588 | ||
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 291 | 340 | ||||
Less: allowance for loan and lease losses | 386 | 492 | 340 | 412 | 291 | 340 |
Beginning balance | 386 | 492 | 340 | 474 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provision | (95) | (80) | (49) | (62) | ||
Ending balance | 291 | 412 | 291 | 412 | ||
Residential Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 22 | 28 | ||||
Collectively evaluated for impairment | 1,145 | 698 | ||||
Less: allowance for loan and lease losses | 1,164 | 773 | 726 | 747 | 1,167 | 726 |
Beginning balance | 1,164 | 773 | 726 | 761 | ||
Charge-offs | (5) | 0 | (51) | 0 | ||
Recoveries | 0 | 30 | 30 | 39 | ||
Provision | 8 | (56) | 462 | (53) | ||
Ending balance | 1,167 | 747 | 1,167 | 747 | ||
Commercial And Industrial [Member] | ||||||
Individually evaluated for impairment | 43 | 3 | ||||
Collectively evaluated for impairment | 1,062 | 453 | ||||
Less: allowance for loan and lease losses | 716 | 586 | 456 | 539 | 1,105 | 456 |
Beginning balance | 716 | 586 | 456 | 969 | ||
Charge-offs | (109) | (9) | (170) | (355) | ||
Recoveries | 132 | 24 | 239 | 40 | ||
Provision | 366 | (62) | 580 | (115) | ||
Ending balance | 1,105 | 539 | 1,105 | 539 | ||
Home Equity Lines of Credit [Member] | ||||||
Individually evaluated for impairment | 27 | 2 | ||||
Collectively evaluated for impairment | 1,176 | 930 | ||||
Less: allowance for loan and lease losses | 1,240 | 832 | 932 | 936 | 1,203 | 932 |
Beginning balance | 1,240 | 832 | 932 | 820 | ||
Charge-offs | (41) | (48) | (54) | (138) | ||
Recoveries | 12 | 3 | 16 | 7 | ||
Provision | (8) | 149 | 309 | 247 | ||
Ending balance | 1,203 | 936 | 1,203 | 936 | ||
Construction and Other [Member] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 236 | 103 | ||||
Less: allowance for loan and lease losses | 254 | 748 | 103 | 97 | 236 | 103 |
Beginning balance | 254 | 748 | 103 | 100 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 17 | 23 | 34 | 45 | ||
Provision | (35) | (674) | 99 | (48) | ||
Ending balance | 236 | 97 | 236 | 97 | ||
Consumer Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 11 | 28 | ||||
Less: allowance for loan and lease losses | 21 | 88 | 28 | 119 | $ 11 | $ 28 |
Beginning balance | 21 | 88 | 28 | 127 | ||
Charge-offs | (3) | (41) | (391) | (88) | ||
Recoveries | 2 | 5 | 11 | 6 | ||
Provision | (9) | 67 | 363 | 74 | ||
Ending balance | $ 11 | $ 119 | $ 11 | $ 119 |
Note 8 - Loans and Related Al_6
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Impaired Loans by Class (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Recorded investment, with no related allowance | $ 12,185 | $ 7,344 |
Unpaid principal balance, with no related allowance | 12,816 | 8,199 |
Recorded investment, with related allowance | 8,719 | 5,726 |
Unpaid principal balance, with related allowance | 8,719 | 5,787 |
Related allowance | 1,976 | 660 |
Recorded investment | 20,904 | 13,070 |
Unpaid principal balance | 21,535 | 13,986 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Recorded investment, with no related allowance | 3,028 | 1,772 |
Unpaid principal balance, with no related allowance | 3,033 | 1,772 |
Recorded investment, with related allowance | 458 | 1,702 |
Unpaid principal balance, with related allowance | 458 | 1,713 |
Related allowance | 10 | 45 |
Recorded investment | 3,486 | 3,474 |
Unpaid principal balance | 3,491 | 3,485 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Recorded investment, with no related allowance | 7,538 | 3,845 |
Unpaid principal balance, with no related allowance | 7,538 | 3,845 |
Recorded investment, with related allowance | 7,147 | 3,239 |
Unpaid principal balance, with related allowance | 7,147 | 3,239 |
Related allowance | 1,874 | 582 |
Recorded investment | 14,685 | 7,084 |
Unpaid principal balance | 14,685 | 7,084 |
Residential Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 781 | 759 |
Unpaid principal balance, with no related allowance | 908 | 829 |
Recorded investment, with related allowance | 478 | 519 |
Unpaid principal balance, with related allowance | 478 | 569 |
Related allowance | 22 | 28 |
Recorded investment | 1,259 | 1,278 |
Unpaid principal balance | 1,386 | 1,398 |
Commercial And Industrial [Member] | ||
Recorded investment, with no related allowance | 659 | 747 |
Unpaid principal balance, with no related allowance | 1,148 | 1,524 |
Recorded investment, with related allowance | 468 | 135 |
Unpaid principal balance, with related allowance | 468 | 135 |
Related allowance | 43 | 3 |
Recorded investment | 1,127 | 882 |
Unpaid principal balance | 1,616 | 1,659 |
Home Equity Lines of Credit [Member] | ||
Recorded investment, with no related allowance | 179 | 220 |
Unpaid principal balance, with no related allowance | 189 | 228 |
Recorded investment, with related allowance | 168 | 131 |
Unpaid principal balance, with related allowance | 168 | 131 |
Related allowance | 27 | 2 |
Recorded investment | 347 | 351 |
Unpaid principal balance | $ 357 | 359 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no related allowance | 1 | |
Unpaid principal balance, with no related allowance | 1 | |
Related allowance | 0 | |
Recorded investment | 1 | |
Unpaid principal balance | $ 1 |
Note 8 - Loans and Related Al_7
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Additional Information on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Average recorded investment | $ 16,896 | $ 15,650 | $ 15,620 | $ 15,125 |
Interest income recognized | 268 | 123 | 373 | 244 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||||
Average recorded investment | 3,459 | 3,819 | 3,464 | 4,014 |
Interest income recognized | 32 | 35 | 65 | 72 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||||
Average recorded investment | 10,864 | 6,419 | 9,604 | 5,989 |
Interest income recognized | 209 | 50 | 258 | 100 |
Residential Portfolio Segment [Member] | ||||
Average recorded investment | 1,206 | 1,716 | 1,230 | 1,761 |
Interest income recognized | 14 | 15 | 25 | 27 |
Commercial And Industrial [Member] | ||||
Average recorded investment | 1,019 | 1,970 | 973 | 2,170 |
Interest income recognized | 11 | 23 | 21 | 45 |
Home Equity Lines of Credit [Member] | ||||
Average recorded investment | 347 | 104 | 348 | 109 |
Interest income recognized | 2 | 0 | 4 | 0 |
Consumer Portfolio Segment [Member] | ||||
Average recorded investment | 1 | 2 | 1 | 2 |
Interest income recognized | $ 0 | 0 | $ 0 | 0 |
Construction and Other [Member] | ||||
Average recorded investment | 1,620 | 1,080 | ||
Interest income recognized | $ 0 | $ 0 |
Note 8 - Loans and Related Al_8
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Classes of the Loan Portfolio Summarized by Credit Quality (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans | $ 1,110,259 | $ 984,258 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 110,134 | 102,386 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 300,577 | 302,180 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 37,604 | 62,028 |
Residential Portfolio Segment [Member] | ||
Loans | 227,427 | 234,798 |
Commercial And Industrial [Member] | ||
Loans | 240,096 | 89,527 |
Home Equity Lines of Credit [Member] | ||
Loans | 117,196 | 112,248 |
Construction and Other [Member] | ||
Loans | 66,015 | 66,680 |
Consumer Portfolio Segment [Member] | ||
Loans | 11,210 | 14,411 |
Pass [Member] | ||
Loans | 1,064,600 | 957,939 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 103,644 | 95,518 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 270,678 | 292,192 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 37,604 | 62,028 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Loans | 224,316 | 231,633 |
Pass [Member] | Commercial And Industrial [Member] | ||
Loans | 235,535 | 84,136 |
Pass [Member] | Home Equity Lines of Credit [Member] | ||
Loans | 115,617 | 111,354 |
Pass [Member] | Construction and Other [Member] | ||
Loans | 66,015 | 66,680 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 11,191 | 14,398 |
Special Mention [Member] | ||
Loans | 9,859 | 11,028 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 3,042 | 3,951 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 3,749 | 3,038 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 0 | 0 |
Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Loans | 410 | 420 |
Special Mention [Member] | Commercial And Industrial [Member] | ||
Loans | 2,658 | 3,619 |
Special Mention [Member] | Home Equity Lines of Credit [Member] | ||
Loans | 0 | 0 |
Special Mention [Member] | Construction and Other [Member] | ||
Loans | 0 | 0 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Substandard [Member] | ||
Loans | 35,800 | 15,291 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 3,448 | 2,917 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 26,150 | 6,950 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 0 | 0 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Loans | 2,701 | 2,745 |
Substandard [Member] | Commercial And Industrial [Member] | ||
Loans | 1,903 | 1,772 |
Substandard [Member] | Home Equity Lines of Credit [Member] | ||
Loans | 1,579 | 894 |
Substandard [Member] | Construction and Other [Member] | ||
Loans | 0 | 0 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 19 | 13 |
Doubtful [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Residential Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial And Industrial [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Home Equity Lines of Credit [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Construction and Other [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans | $ 0 | $ 0 |
Note 8 - Loans and Related Al_9
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans, current balance | $ 1,094,297 | $ 975,566 |
Loans, past due | 15,962 | 8,692 |
Loans | 1,110,259 | 984,258 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 7,379 | 2,589 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 2,036 | 345 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 6,547 | 5,758 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans, current balance | 108,989 | 101,264 |
Loans, past due | 1,145 | 1,122 |
Loans | 110,134 | 102,386 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 0 | 64 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 350 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 795 | 1,058 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans, current balance | 295,729 | 298,941 |
Loans, past due | 4,848 | 3,239 |
Loans | 300,577 | 302,180 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 742 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 4,106 | 3,239 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | ||
Loans, current balance | 37,604 | 62,028 |
Loans, past due | 0 | 0 |
Loans | 37,604 | 62,028 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Multifamily Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans, current balance | 223,820 | 232,518 |
Loans, past due | 3,607 | 2,280 |
Loans | 227,427 | 234,798 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 1,539 | 1,439 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 893 | 34 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 1,175 | 807 |
Commercial And Industrial [Member] | ||
Loans, current balance | 239,836 | 88,965 |
Loans, past due | 260 | 562 |
Loans | 240,096 | 89,527 |
Commercial And Industrial [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 160 | 190 |
Commercial And Industrial [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 66 |
Commercial And Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 100 | 306 |
Home Equity Lines of Credit [Member] | ||
Loans, current balance | 116,818 | 111,792 |
Loans, past due | 378 | 456 |
Loans | 117,196 | 112,248 |
Home Equity Lines of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 189 | 274 |
Home Equity Lines of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 50 | 29 |
Home Equity Lines of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 139 | 153 |
Construction and Other [Member] | ||
Loans, current balance | 60,524 | 66,680 |
Loans, past due | 5,491 | 0 |
Loans | 66,015 | 66,680 |
Construction and Other [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 5,491 | 0 |
Construction and Other [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Construction and Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans, current balance | 10,977 | 13,378 |
Loans, past due | 233 | 1,033 |
Loans | 11,210 | 14,411 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, past due | 0 | 622 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, past due | 1 | 216 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, past due | $ 232 | $ 195 |
Note 8 - Loans and Related A_10
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Nonaccrual Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans, current balance | $ 9,803 | $ 8,879 |
Loans, past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Loan [Member] | ||
Loans, current balance | 1,266 | 1,162 |
Loans, past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Non-owner occupied Loan [Member] | ||
Loans, current balance | 4,106 | 3,289 |
Loans, past due | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans, current balance | 2,646 | 2,576 |
Loans, past due | 0 | 0 |
Commercial And Industrial [Member] | ||
Loans, current balance | 519 | 946 |
Loans, past due | 0 | 0 |
Home Equity Lines of Credit [Member] | ||
Loans, current balance | 1,021 | 709 |
Loans, past due | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans, current balance | 245 | 197 |
Loans, past due | $ 0 | $ 0 |
Note 8 - Loans and Related A_11
Note 8 - Loans and Related Allowance for Loan and Lease Losses - Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | |
Number of contracts | 0 | ||
Residential Portfolio Segment [Member] | |||
Number of contracts | 1 | 1 | |
Pre-modification outstanding recorded investment | $ 39 | $ 85 | |
Post-modification outstanding recorded investment | $ 39 | $ 140 | |
Commercial And Industrial [Member] | |||
Number of contracts | 2 | ||
Pre-modification outstanding recorded investment | $ 118 | ||
Post-modification outstanding recorded investment | $ 117 | ||
Extended Maturity [Member] | Residential Portfolio Segment [Member] | |||
Number of contracts | 1 | 0 | |
Extended Maturity [Member] | Commercial And Industrial [Member] | |||
Number of contracts | 2 | ||
Other Restructurings [Member] | Residential Portfolio Segment [Member] | |||
Number of contracts | 0 | 1 | |
Other Restructurings [Member] | Commercial And Industrial [Member] | |||
Number of contracts | 0 |
Note 9 - Stock Split Disclosu_3
Note 9 - Stock Split Disclosure (Details Textual) | Oct. 09, 2019 |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 |
Note 9 - Stock Split Disclosu_4
Note 9 - Stock Split Disclosure - Effect of Stock Split (Details) - $ / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Restated net income per common share - basic (in dollars per share) | $ 0.47 | $ 0.51 | $ 0.63 | $ 0.97 | |
Restated net income per common share - diluted (in dollars per share) | $ 0.46 | $ 0.50 | $ 0.62 | $ 0.97 | |
Restated weighted-average common shares issued (in shares) | 7,298,829 | 7,286,542 | 7,298,785 | 7,278,620 | |
Restated average treasury stock shares (in shares) | 929,362 | 784,034 | 905,497 | 778,214 | |
Restated average shares outstanding - basic (in shares) | 6,369,467 | 6,502,508 | 6,393,288 | 6,500,406 | |
Restated stock options and restricted stock (in shares) | 18,651 | 12,438 | 19,297 | 12,644 | |
Restated average shares outstanding - diluted (in shares) | 6,388,118 | 6,514,946 | 6,412,585 | 6,513,050 | |
Restated period ending shares outstanding (in shares) | 6,369,467 | 6,485,170 | 6,369,467 | 6,485,170 | 6,423,630 |
Restated treasury shares outstanding (in shares) | 929,362 | 807,824 | 929,362 | 807,824 | 871,162 |
Note 10 - Risks and Uncertain_3
Note 10 - Risks and Uncertainties (Details Textual) $ in Millions | Jun. 30, 2020USD ($) |
Payroll Protection Plan, Number of Loan Applications Approved | 1,343 |
Payment Protection Plan, Amount to be Funded | $ 142.7 |
Financing Receivable, Number of Principal and Interest Payments and Extension of Maturity Date Payment Deferrals | 362 |
Financing Receivable, Principal and Interest Payments and Extension of Maturity Date Payment Deferrals | $ 214.8 |
Note 10 - Risks and Uncertain_4
Note 10 - Risks and Uncertainties - Loans at Risk (Details) - Commercial Portfolio Segment [Member] - COVID-19 [Member] $ in Thousands | Jun. 30, 2020USD ($) |
Number of loans at risk | 1,255 |
Balance of loans at risk | $ 487,807 |
% of total loans at risk | 43.90% |
Retail Loan [Member] | |
Number of loans at risk | 270 |
Balance of loans at risk | $ 195,550 |
% of total loans at risk | 17.60% |
Multifamily Loan [Member] | |
Number of loans at risk | 354 |
Balance of loans at risk | $ 120,697 |
% of total loans at risk | 10.90% |
Ambulatory Care, Nursing/Rehabilitation and Social Assistance [Member] | |
Number of loans at risk | 218 |
Balance of loans at risk | $ 81,491 |
% of total loans at risk | 7.30% |
Hospitality and Tourism Loan [Member] | |
Number of loans at risk | 58 |
Balance of loans at risk | $ 44,923 |
% of total loans at risk | 4.10% |
Restaurant/food service/bar Loan [Member] | |
Number of loans at risk | 136 |
Balance of loans at risk | $ 24,938 |
% of total loans at risk | 2.20% |
Other Loans [Member] | |
Number of loans at risk | 219 |
Balance of loans at risk | $ 20,208 |
% of total loans at risk | 1.80% |
Note 10 - Risks and Uncertain_5
Note 10 - Risks and Uncertainties - Summary of Payment Deferrals (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Number of Loans | 362 |
Balance | $ 214,800 |
Commercial Portfolio Segment [Member] | |
Number of Loans | 362 |
Balance | $ 214,817 |
% of Total Loans | 19.40% |
Commercial Portfolio Segment [Member] | Retail Loan [Member] | |
Number of Loans | 58 |
Balance | $ 89,438 |
% of Total Loans | 8.10% |
Commercial Portfolio Segment [Member] | Hospitality and Tourism Loan [Member] | |
Number of Loans | 23 |
Balance | $ 35,700 |
% of Total Loans | 3.20% |
Commercial Portfolio Segment [Member] | Ambulatory Care, Nursing/Rehabilitation and Social Assistance [Member] | |
Number of Loans | 10 |
Balance | $ 22,456 |
% of Total Loans | 2.00% |
Commercial Portfolio Segment [Member] | Multifamily and Residential NOO [Member] | |
Number of Loans | 16 |
Balance | $ 7,628 |
% of Total Loans | 0.70% |
Commercial Portfolio Segment [Member] | Restaurant/food service/bar Loan [Member] | |
Number of Loans | 10 |
Balance | $ 5,216 |
% of Total Loans | 0.50% |
Commercial Portfolio Segment [Member] | Other Loans [Member] | |
Number of Loans | 245 |
Balance | $ 54,379 |
% of Total Loans | 4.90% |
Note 10 - Risks and Uncertain_6
Note 10 - Risks and Uncertainties - PPP Loan Amounts That Could Be Forgiven (Details) - Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] $ in Thousands | Jun. 30, 2020USD ($) |
Number of Loans | 1,302 |
Loan Balance | $ 141,300 |
Loans Over Two Million [Member] | |
Number of Loans | 6 |
Loan Balance | $ 14,774 |
Loans Between 350,000 and Two Million [Member] | |
Number of Loans | 92 |
Loan Balance | $ 69,361 |
Loans Between 150,000 and 350,000 [Member] | |
Number of Loans | 96 |
Loan Balance | $ 20,768 |
Loans Under 150,000 [Member] | |
Number of Loans | 1,108 |
Loan Balance | $ 36,397 |