Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 12, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | EMCLAIRE FINANCIAL CORP | |
Entity Central Index Key | 0000858800 | |
Trading Symbol | emcf | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 2,708,712 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, par value $1.25 per share |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 3,839,000 | $ 3,750,000 |
Interest earning deposits with banks | 6,250,000 | 11,236,000 |
Total cash and cash equivalents | 10,089,000 | 14,986,000 |
Interest earning time deposits | 8,948,000 | 9,698,000 |
Securities - available-for-sale | 114,419,000 | 120,107,000 |
Securities - equity investments | 9,000 | 19,000 |
Loans receivable, net of allowance for loan losses of $7,220 and $6,556 | 734,730,000 | 695,348,000 |
Federal bank stocks, at cost | 6,866,000 | 5,790,000 |
Bank-owned life insurance | 15,161,000 | 15,287,000 |
Accrued interest receivable | 2,861,000 | 2,600,000 |
Premises and equipment, net | 18,999,000 | 19,041,000 |
Goodwill | 19,460,000 | 19,460,000 |
Core deposit intangible, net | 1,205,000 | 1,247,000 |
Prepaid expenses and other assets | 11,487,000 | 11,713,000 |
Total Assets | 944,234,000 | 915,296,000 |
Liabilities and Stockholders' Equity | ||
Non-interest bearing | 149,131,000 | 148,842,000 |
Interest bearing | 633,585,000 | 638,282,000 |
Total deposits | 782,716,000 | 787,124,000 |
Short-term borrowed funds | 14,300,000 | 2,050,000 |
Long-term borrowed funds | 46,250,000 | 26,500,000 |
Accrued interest payable | 661,000 | 616,000 |
Accrued expenses and other liabilities | 12,762,000 | 13,148,000 |
Total Liabilities | 856,689,000 | 829,438,000 |
Stockholders' Equity | ||
Preferred stock, $1.00 par value, 3,000,000 shares authorized; Series C, non-cumulative preferred stock, $2.9 million liquidation value, 286,888 shares issued and outstanding; Series D, non-cumulative preferred stock, $1.3 million liquidation value, 133,705 shares issued and outstanding | 4,206,000 | 4,206,000 |
Common stock, $1.25 par value, 12,000,000 shares authorized; 2,810,729 shares issued; 2,708,712 shares outstanding | 3,513,000 | 3,513,000 |
Additional paid-in capital | 46,869,000 | 46,757,000 |
Treasury stock, at cost; 102,017 shares | (2,114,000) | (2,114,000) |
Retained earnings | 39,209,000 | 38,831,000 |
Accumulated other comprehensive loss | (4,138,000) | (5,335,000) |
Total Stockholders' Equity | 87,545,000 | 85,858,000 |
Total Liabilities and Stockholders' Equity | $ 944,234,000 | $ 915,296,000 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Allowance for loan losses | $ 7,220 | $ 6,556 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, authorized (in shares) | 3,000,000 | 3,000,000 |
Common stock, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Common stock, authorized (in shares) | 12,000,000 | 12,000,000 |
Common stock, issued (in shares) | 2,810,729 | 2,810,729 |
Common stock, outstanding (in shares) | 2,708,712 | 2,708,712 |
Treasury stock (in shares) | 102,017 | 102,017 |
Series C Preferred Stock [Member] | ||
Preferred stock, liquidation value | $ 2,900 | $ 2,900 |
Preferred stock, issued (in shares) | 286,888 | 286,888 |
Preferred stock, outstanding (in shares) | 286,888 | 286,888 |
Series D Preferred Stock [Member] | ||
Preferred stock, liquidation value | $ 1,300 | $ 1,300 |
Preferred stock, issued (in shares) | 133,705 | 133,705 |
Preferred stock, outstanding (in shares) | 133,705 | 133,705 |
Consolidated Statements of Net
Consolidated Statements of Net Income (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest and dividend income: | ||
Loans receivable, including fees | $ 7,981,000 | $ 8,231,000 |
Securities: | ||
Taxable | 664,000 | 492,000 |
Exempt from federal income tax | 84,000 | 122,000 |
Federal bank stocks | 108,000 | 100,000 |
Interest earning deposits with banks | 66,000 | 47,000 |
Total interest and dividend income | 8,903,000 | 8,992,000 |
Interest expense: | ||
Deposits | 1,940,000 | 1,471,000 |
Borrowed funds | 273,000 | 301,000 |
Total interest expense | 2,213,000 | 1,772,000 |
Net interest income | 6,690,000 | 7,220,000 |
Provision for loan losses | 792,000 | 180,000 |
Net interest income after provision for loan losses | 5,898,000 | 7,040,000 |
Noninterest income: | ||
Fees and service charges | 451,000 | 555,000 |
Net realized gain on sales of securities | 78,000 | 2,000 |
Net gain on sales of loans | 14,000 | |
Earnings on bank-owned life insurance | 94,000 | 95,000 |
Other | 402,000 | 391,000 |
Total noninterest income | 1,025,000 | 1,057,000 |
Noninterest expense: | ||
Compensation and employee benefits | 2,912,000 | 2,917,000 |
Premises and equipment | 794,000 | 886,000 |
Intangible asset amortization | 42,000 | 46,000 |
Professional fees | 221,000 | 221,000 |
Federal deposit insurance | 103,000 | 136,000 |
Other | 1,418,000 | 1,353,000 |
Total noninterest expense | 5,490,000 | 5,559,000 |
Income before provision for income taxes | 1,433,000 | 2,538,000 |
Provision for income taxes | 243,000 | 456,000 |
Net income | $ 1,190,000 | $ 2,082,000 |
Basic earnings per common share (in dollars per share) | $ 0.44 | $ 0.77 |
Diluted earnings per common share (in dollars per share) | $ 0.44 | $ 0.77 |
Average common shares outstanding - basic (in shares) | 2,708,712 | 2,698,712 |
Average common shares outstanding - diluted (in shares) | 2,723,610 | 2,712,418 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net income | $ 1,190 | $ 2,082 |
Unrealized gains/(losses) on securities available-for-sale: | ||
Unrealized holding gain (loss) arising during the period | 1,595 | 1,106 |
Reclassification adjustment for (gains) losses included in net income | (78) | (2) |
Net period change | 1,517 | 1,104 |
Tax effect | (320) | (231) |
Net of tax | 1,197 | 873 |
Comprehensive income | $ 2,387 | $ 2,955 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities | ||
Net income | $ 1,190 | $ 2,082 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization of premises and equipment | 354 | 325 |
Provision for loan losses | 792 | 180 |
Amortization/accretion of premiums, discounts and deferred costs and fees, net | 265 | 24 |
Amortization of operating lease right-of-use assets | 34 | 33 |
Amortization of intangible assets and mortgage servicing rights | 62 | 62 |
Realized gain on sales of debt securities, net | (78) | (2) |
Change in fair value of equity securities, including realized gain | 10 | (10) |
Net gain on sales of loans | (14) | |
Net loss on foreclosed real estate | 5 | 14 |
Loans originated for sale | (724) | |
Proceeds from the sale of loans originated for sale | 526 | |
Write-down of foreclosed real estate | 21 | |
Stock compensation expense | 112 | 90 |
Decrease (increase) in bank-owned life insurance, net | 126 | (95) |
Increase in accrued interest receivable | (261) | (165) |
Increase in prepaid expenses and other assets | (59) | (1) |
Increase in accrued interest payable | 45 | 108 |
Increase (decrease) in accrued expenses and other liabilities | (386) | (1,072) |
Net cash provided by operating activities | 2,211 | 1,382 |
Cash flows from investing activities | ||
Loan originations and principal collections, net | (40,577) | 7,846 |
Available-for-sale securities: | ||
Sales | 8,226 | 3,975 |
Maturities, repayments and calls | 5,772 | 3,577 |
Purchases | (6,786) | (7,740) |
Net change in federal bank stocks | (1,076) | 552 |
Net change in interest earning time deposits | 750 | 500 |
Proceeds from the sale of bank premises and equipment | 190 | |
Purchases of premises and equipment | (312) | (704) |
Proceeds from the sale of foreclosed real estate | 115 | 146 |
Net cash provided by (used in) investing activities | (33,888) | 8,342 |
Cash flows from financing activities | ||
Net increase in deposits | (4,408) | (2,119) |
Proceeds from long-term debt | 20,000 | |
Repayments on long-term debt | (250) | (250) |
Net change in short-term borrowings | 12,250 | (9,800) |
Dividends paid | (812) | (783) |
Net cash provided by (used in) financing activities | 26,780 | (12,952) |
Net decrease in cash and cash equivalents | (4,897) | (3,228) |
Cash and cash equivalents at beginning of period | 14,986 | 10,955 |
Cash and cash equivalents at end of period | 10,089 | 7,727 |
Supplemental information: | ||
Interest paid | 2,168 | 1,664 |
Supplemental noncash disclosure: | ||
Transfers from loans to foreclosed real estate | 209 | 283 |
Initial recognition of operating lease right-of-use assets | 1,642 | |
Initial recognition of operating lease liabilities | $ 1,858 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital, Preferred [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital, Common [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Preferred Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Additional Paid-in Capital, Preferred [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Additional Paid-in Capital, Common [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Preferred Stock [Member] | Additional Paid-in Capital, Preferred [Member] | Common Stock [Member] | Additional Paid-in Capital, Common [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2018 | $ (181) | $ (181) | $ 421 | $ 3,785 | $ 3,501 | $ 46,401 | $ (2,114) | $ 34,190 | $ (6,357) | $ 79,827 | $ 421 | $ 3,785 | $ 3,501 | $ 46,401 | $ (2,114) | $ 34,371 | $ (6,357) | $ 80,008 | ||||||
Net income | 2,082 | 2,082 | ||||||||||||||||||||||
Other comprehensive income (loss) | 873 | 873 | ||||||||||||||||||||||
Stock compensation expense | 90 | 90 | ||||||||||||||||||||||
Cash dividends declared on common stock | (783) | (783) | ||||||||||||||||||||||
Other comprehensive income (loss) | 873 | 873 | ||||||||||||||||||||||
Balance at Mar. 31, 2019 | 421 | 3,785 | 3,501 | 46,491 | (2,114) | 37,657 | (5,484) | 84,257 | ||||||||||||||||
Balance at Dec. 31, 2019 | 421 | 3,785 | 3,513 | 46,757 | (2,114) | 38,831 | (5,335) | 85,858 | ||||||||||||||||
Net income | 1,190 | 1,190 | ||||||||||||||||||||||
Other comprehensive income (loss) | 1,197 | 1,197 | ||||||||||||||||||||||
Stock compensation expense | 112 | 112 | ||||||||||||||||||||||
Cash dividends declared on common stock | (812) | (812) | ||||||||||||||||||||||
Other comprehensive income (loss) | 1,197 | 1,197 | ||||||||||||||||||||||
Balance at Mar. 31, 2020 | $ 421 | $ 3,785 | $ 3,513 | $ 46,869 | $ (2,114) | $ 39,209 | $ (4,138) | $ 87,545 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Basis of Presentation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Nature of Operations and Basis of Presentation Emclaire Financial Corp (the Corporation) is a Pennsylvania corporation and the holding company of The Farmers National Bank of Emlenton (the Bank). The Corporation provides a variety of financial services to individuals and businesses through its offices in western Pennsylvania and northern West Virginia. Its primary deposit products are checking, savings and term certificate accounts and its primary lending products are residential and commercial mortgages, commercial business loans and consumer loans. The consolidated financial statements include the accounts of the Corporation and its wholly owned subsidiaries, the Bank and the Title Company. All significant intercompany transactions and balances have been eliminated in preparing the consolidated financial statements. The accompanying unaudited consolidated financial statements for the interim periods include all adjustments, consisting of normal recurring accruals, which are necessary, in the opinion of management, to fairly reflect the Corporation’s consolidated financial position and results of operations. Additionally, these consolidated financial statements for the interim periods have been prepared in accordance with instructions for the Securities and Exchange Commission’s (SEC’s) Form 10 10 X not December 31, 2019 10 December 31, 2019 The balance sheet at December 31, 2019 not The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The results of operations for interim quarterly or year-to-date periods are not may may The coronavirus (COVID- 19 may may 19 third On March 27, 2020, 19. 19 not not 30 December 31, 2019 March 1, 2020 60 19 December 31, 2020. 19 not March 31, 2020, 76 $15.1 May 6, 2020, 391 $78.7 30 90 Additionally, the Bank is a lender for the Small Business Administration's (SBA) Paycheck Protection Program (PPP), a program under the CARES Act, and other SBA, Federal Reserve or United States Treasury programs that have been created in response to the pandemic, and may May 6, 2020, 470 $45.3 |
Note 2 - Earnings Per Common Sh
Note 2 - Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 2. Earnings per Common Share Basic earnings per common share (EPS) excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS includes the dilutive effect of additional potential common shares for assumed issuance of restricted stock. The factors used in the Corporation’s earnings per common share computation follow: (Dollar amounts in thousands, except for per share amounts) For the Three Months Ended March 31, 2020 2019 Net income $ 1,190 $ 2,082 Less: Preferred stock dividends — — Net income available to common stockholders $ 1,190 $ 2,082 Average common shares outstanding 2,708,712 2,698,712 Add: Dilutive effects of restricted stock awards 14,898 13,706 Average shares and dilutive potential common shares 2,723,610 2,712,418 Basic earnings per common share $ 0.44 $ 0.77 Diluted earnings per common share $ 0.44 $ 0.77 Restricted stock awards not considered in computing earnings per share because they were antidulitive — — |
Note 3 - Securities
Note 3 - Securities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 3. Securities Equity Securities The Corporation held equity securities with fair values of $9,000 $19,000 March 31, 2020 December 31, 2019 January 1, 2018, 2016 01, three March 31, 2020 2019 $10,000 $16,000, March 31. three March 31, 2020 2019 not Debt Securities - Available-for-Sale The following table summarizes the Corporation’s debt securities as of March 31, 2020 December 31, 2019 (Dollar amounts in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2020: U.S. government sponsored entities and agencies $ 1,000 $ 27 $ — $ 1,027 U.S. agency mortgage-backed securities: residential 40,099 1,011 (53 ) 41,057 U.S. agency collateralized mortgage obligations: residential 31,385 541 (153 ) 31,773 State and political subdivisions 28,123 390 (146 ) 28,367 Corporate debt securities 12,433 130 (368 ) 12,195 Total securities available-for-sale $ 113,040 $ 2,099 $ (720 ) $ 114,419 December 31, 2019: U.S. government sponsored entities and agencies $ 7,069 $ 14 $ (6 ) $ 7,077 U.S. agency mortgage-backed securities: residential 40,868 291 (84 ) 41,075 U.S. agency collateralized mortgage obligations: residential 33,001 71 (235 ) 32,837 State and political subdivisions 27,848 217 (269 ) 27,796 Corporate debt securities 11,459 93 (230 ) 11,322 Total securities available-for-sale $ 120,245 $ 686 $ (824 ) $ 120,107 The following table summarizes scheduled maturities of the Corporation’s debt securities as of March 31, 2020 may may not (Dollar amounts in thousands) Available-for-sale Amortized Cost Fair Value Due in one year or less $ 1,240 $ 1,203 Due after one year through five years 2,067 2,106 Due after five through ten years 14,994 14,900 Due after ten years 23,255 23,380 Mortgage-backed securities: residential 40,099 41,057 Collateralized mortgage obligations: residential 31,385 31,773 Total securities available-for-sale $ 113,040 $ 114,419 Information pertaining to debt securities with gross unrealized losses at March 31, 2020 December 31, 2019 (Dollar amounts in thousands) Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 31, 2020: U.S. agency mortgage-backed securities: residential $ — $ — $ 10,791 $ (53 ) $ 10,791 $ (53 ) U.S. agency collateralized mortgage obligations: residential 6,268 (72 ) 3,248 (81 ) 9,516 (153 ) State and political subdivisions 6,375 (146 ) — — 6,375 (146 ) Corporate debt securities 6,590 (300 ) 432 (68 ) 7,022 (368 ) Total $ 19,233 $ (518 ) $ 14,471 $ (202 ) $ 33,704 $ (720 ) December 31, 2019: U.S. government sponsored entities and agencies $ — $ — $ 2,032 $ (6 ) $ 2,032 $ (6 ) U.S. agency mortgage-backed securities: residential 14,578 (76 ) 2,325 (8 ) 16,903 (84 ) U.S. agency collateralized mortgage obligations: residential 12,319 (32 ) 11,621 (203 ) 23,940 (235 ) State and political subdivisions 15,636 (269 ) — — 15,636 (269 ) Corporate debt securities 4,031 (229 ) 499 (1 ) 4,530 (230 ) Total $ 46,564 $ (606 ) $ 16,477 $ (218 ) $ 63,041 $ (824 ) Gains and losses on sales of securities for the three March 31, (Dollar amounts in thousands) For the Three Months Ended March 31, 2020 2019 Proceeds $ 8,226 $ 3,975 Gains 82 6 Losses (4 ) (4 ) Tax provision related to gains (losses) 16 — Management evaluates debt securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic, market or other conditions warrant such evaluation. Consideration is given to: ( 1 2 3 4 not not There were 37 March 31, 2020 four 12 37 15 eight seven seven not not not not not March 31, 2020 |
Note 4 - Loans Receivable and R
Note 4 - Loans Receivable and Related Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. Loans Receivable and Related Allowance for Loan Losses The Corporation’s loans receivable as of the respective dates are summarized as follows: (Dollar amounts in thousands) March 31, 2020 December 31, 2019 Mortgage loans on real estate: Residential first mortgages $ 294,361 $ 293,170 Home equity loans and lines of credit 95,459 97,541 Commercial real estate 263,948 229,951 Total real estate loans 653,768 620,662 Other loans: Commercial business 69,077 66,603 Consumer 19,105 14,639 Total other loans 88,182 81,242 Total loans, gross 741,950 701,904 Less allowance for loan losses 7,220 6,556 Total loans, net $ 734,730 $ 695,348 Included in total loans above are net deferred costs of $3.1 $2.6 March 31, 2020 December 31, 2019 An allowance for loan losses (ALL) is maintained to absorb probable incurred losses from the loan portfolio. The ALL 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. While the Corporation has historically experienced strong trends in asset quality, as a result of the situation regarding the COVID- 19 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 ALL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALL. The allowance for loan losses is based on estimates and actual losses may At March 31, 2020 no 2016 2017 2018 The following table details activity in the ALL and the recorded investment by portfolio segment based on impairment method: (Dollar amounts in thousands) Residential Mortgages Home Equity & Lines of Credit Commercial Real Estate Commercial Business Consumer Total Three months ended March 31, 2020: Allowance for loan losses: Beginning Balance $ 2,309 $ 626 $ 2,898 $ 636 $ 87 $ 6,556 Charge-offs (11 ) (39 ) (73 ) — (15 ) (138 ) Recoveries — — 3 — 7 10 Provision 31 54 606 45 56 792 Ending Balance $ 2,329 $ 641 $ 3,434 $ 681 $ 135 $ 7,220 At March 31, 2020: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 2 $ — $ 19 $ 5 $ — $ 26 Acquired loans collectively evaluated for impairment — — — — — — Originated loans collectively evaluated for impairment 2,327 641 3,415 676 135 7,194 Total $ 2,329 $ 641 $ 3,434 $ 681 $ 135 $ 7,220 Total loans: Individually evaluated for impairment $ 349 $ 4 $ 1,217 $ 88 $ — $ 1,658 Acquired loans collectively evaluated for impairment 57,891 10,177 38,619 7,026 1,607 115,320 Originated loans collectively evaluated for impairment 236,121 85,278 224,112 61,963 17,498 624,972 Total $ 294,361 $ 95,459 $ 263,948 $ 69,077 $ 19,105 $ 741,950 At December 31, 2019: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 5 $ — $ — $ — $ — $ 5 Acquired loans collectively evaluated for impairment — — — — — — Originated loans collectively evaluated for impairment 2,304 626 2,898 636 87 6,551 Total $ 2,309 $ 626 $ 2,898 $ 636 $ 87 $ 6,556 Total loans: Individually evaluated for impairment $ 358 $ 4 $ 81 $ 40 $ — $ 483 Acquired loans collectively evaluated for impairment 60,523 10,901 41,993 7,930 1,982 123,329 Originated loans collectively evaluated for impairment 232,289 86,636 187,877 58,633 12,657 578,092 Total $ 293,170 $ 97,541 $ 229,951 $ 66,603 $ 14,639 $ 701,904 Three months ended March 31, 2019: Allowance for loan losses: Beginning Balance $ 2,198 $ 648 $ 3,106 $ 500 $ 56 $ 6,508 Charge-offs (10 ) (4 ) (5 ) (71 ) (39 ) (129 ) Recoveries 40 1 15 — 24 80 Provision 28 5 (73 ) 206 14 180 Ending Balance $ 2,256 $ 650 $ 3,043 $ 635 $ 55 $ 6,639 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not March 31, 2020 (Dollar amounts in thousands) Impaired Loans with Specific Allowance As of March 31, 2020 For the Three Months Ended March 31, 2020 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 71 $ 71 $ 2 $ 71 $ 1 $ 1 Home equity and lines of credit 4 4 — 4 — — Commercial real estate 150 150 19 75 — — Commercial business 45 45 5 23 1 1 Consumer — — — — — — Total $ 270 $ 270 $ 26 $ 173 $ 2 $ 2 Impaired Loans with No Specific Allowance As of March 31, 2020 For the Three Months Ended March 31, 2020 Unpaid Principal Balance Recorded Investment Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 390 $ 278 $ 282 $ 1 $ 1 Home equity and lines of credit — — — — — Commercial real estate 1,067 1,067 574 13 13 Commercial business 43 43 41 1 — Consumer — — — — — Total $ 1,500 $ 1,388 $ 897 $ 15 $ 14 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not December 31, 2019 (Dollar amounts in thousands) Impaired Loans with Specific Allowance As of December 31, 2019 For the year ended December 31, 2019 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 72 $ 72 $ 5 $ 72 $ 3 $ 3 Home equity and lines of credit 4 4 — 5 — — Commercial real estate — — — — — — Commercial business — — — — — — Consumer — — — — — — Total $ 76 $ 76 $ 5 $ 77 $ 3 $ 3 Impaired Loans with No Specific Allowance As of December 31, 2019 For the year ended December 31, 2019 Unpaid Principal Balance Recorded Investment Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 398 $ 286 $ 301 $ 4 $ 4 Home equity and lines of credit — — — — — Commercial real estate 81 81 1,019 88 35 Commercial business 40 40 79 7 2 Consumer — — — — — Total $ 519 $ 407 $ 1,399 $ 99 $ 41 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not March 31, 2019: (Dollar amounts in thousands) Impaired Loans with Specific Allowance As of March 31, 2019 For the three months ended March 31, 2019 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 73 $ 73 $ 7 $ 73 $ 1 $ 1 Home equity and lines of credit 5 5 — 6 — — Commercial real estate — — — — — — Commercial business 63 63 63 31 — — Consumer — — — — — — Total $ 141 $ 141 $ 70 $ 110 $ 1 $ 1 Impaired Loans with No Specific Allowance As of March 31, 2019 For the three months ended March 31, 2019 Unpaid Principal Balance Recorded Investment Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 382 $ 307 $ 311 $ 1 $ 1 Home equity and lines of credit — — — — — Commercial real estate 32 32 33 1 1 Commercial business 40 40 39 1 1 Consumer — — — — — Total $ 454 $ 379 $ 383 $ 3 $ 3 Unpaid principal balance includes any loans that have been partially charged off but not not not Troubled debt restructurings (TDR). not not not At March 31, 2020 December 31, 2019 , the Corporation had $354,000 $409,000, $2,000 $5,000 March 31, 2020 December 31, 2019 , respectively. During the three March 31, 2020 not three March 31, 2019 one $74,000. March 31, 2019 not Under the provisions of the CARES Act, as of March 31, 2020, 76 $15.1 2.0% May 6, 2020, 391 $78.7 10.0% not A loan is considered to be in payment default once it is 30 three March 31, 2020 2019 not twelve Credit Quality Indicators. Commercial real estate and commercial business loans not Management has determined certain portions of the loan portfolio to be homogeneous in nature and assigns like reserve factors for the following loan pool types: residential real estate, home equity loans and lines of credit, and consumer installment and personal lines of credit. The reserve allocation for risk rated loan pools is developed by applying the following factors: Historic twelve Qualitative Management uses the following definitions for risk ratings: Pass Special Mention may Substandard no Doubtful The following table presents the classes of the loan portfolio summarized by the aggregate pass and the criticized categories of special mention, substandard and doubtful within the Corporation’s internal risk rating system as of March 31, 2020 December 31, 2019 (Dollar amounts in thousands) Not Rated Pass Special Mention Substandard Doubtful Total March 31, 2020: Residential first mortgages $ 293,491 $ — $ — $ 870 $ — $ 294,361 Home equity and lines of credit 94,928 — — 531 — 95,459 Commercial real estate — 251,246 5,159 7,543 — 263,948 Commercial business — 67,130 203 1,744 — 69,077 Consumer 18,983 — — 122 — 19,105 Total loans $ 407,402 $ 318,376 $ 5,362 $ 10,810 $ — $ 741,950 December 31, 2019: Residential first mortgages $ 291,843 $ — $ — $ 1,327 $ — $ 293,170 Home equity and lines of credit 97,087 — — 454 — 97,541 Commercial real estate — 216,744 5,370 7,837 — 229,951 Commercial business — 64,636 204 1,763 — 66,603 Consumer 14,557 — — 82 — 14,639 Total loans $ 403,487 $ 281,380 $ 5,574 $ 11,463 $ — $ 701,904 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. The following table presents the classes of the loan portfolio summarized by the aging categories of performing loans and nonperforming loans as of March 31, 2020 December 31, 2019 (Dollar amounts in thousands) Performing Nonperforming Accruing Loans Not Past Due Accruing 30-59 Days Past Due Accruing 60-89 Days Past Due Accruing 90+ Days Past Due Nonaccrual Total March 31, 2020: Residential first mortgages $ 290,062 $ 2,050 $ 1,379 $ 62 $ 808 $ 294,361 Home equity and lines of credit 93,725 731 472 180 351 95,459 Commercial real estate 260,032 1,620 1,019 235 1,042 263,948 Commercial business 68,571 172 68 3 263 69,077 Consumer 18,865 66 52 — 122 19,105 Total loans $ 731,255 $ 4,639 $ 2,990 $ 480 $ 2,586 $ 741,950 December 31, 2019: Residential first mortgages $ 288,399 $ 2,405 $ 1,039 $ 372 $ 955 $ 293,170 Home equity and lines of credit 95,908 626 553 26 428 97,541 Commercial real estate 226,133 2,141 543 227 907 229,951 Commercial business 66,087 225 72 4 215 66,603 Consumer 14,458 84 15 — 82 14,639 Total loans $ 690,985 $ 5,481 $ 2,222 $ 629 $ 2,587 $ 701,904 The following table presents the Corporation’s nonaccrual loans by aging category as of March 31, 2020 December 31, 2019 (Dollar amounts in thousands) Not Past Due 30-59 Days Past Due 60-89 Days Past Due 90 Days + Past Due Total March 31, 2020: Residential first mortgages $ 239 $ — $ 71 $ 498 $ 808 Home equity and lines of credit 3 — — 348 351 Commercial real estate 134 250 159 499 1,042 Commercial business — 41 — 222 263 Consumer — — — 122 122 Total loans $ 376 $ 291 $ 230 $ 1,689 $ 2,586 December 31, 2019: Residential first mortgages $ 245 $ — $ 72 $ 638 $ 955 Home equity and lines of credit 4 — — 424 428 Commercial real estate 28 309 31 539 907 Commercial business — — 175 40 215 Consumer — — — 82 82 Total loans $ 277 $ 309 $ 278 $ 1,723 $ 2,587 |
Note 5 - Goodwill and Intangibl
Note 5 - Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 5. Goodwill and Intangible Assets The following table summarizes the Corporation’s acquired goodwill and intangible assets as of March 31, 2020 December 31, 2019 (Dollar amounts in thousands) March 31, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Goodwill $ 19,460 $ — $ 19,460 $ — Core deposit intangibles 5,634 4,429 5,634 4,387 Total $ 25,094 $ 4,429 $ 25,094 $ 4,387 Goodwill resulted from five not may not November 30 No 2019 first three 2020 no 19, March 31, 2020. not The core deposit intangible asset, resulting from three not three March 31, 2020 2019 $42,000 $46,000. |
Note 6 - Stock Compensation Pla
Note 6 - Stock Compensation Plan | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 6. Stock Compensation Plan In April 2014, 2014 176,866 March 31, 2020 19,833 88,433 Incentive stock options, non-incentive or compensatory stock options and share awards may ten may At March 31, 2020 no A summary of the status of the Corporation’s nonvested restricted stock awards as of March 31, 2020 Shares Weighted-Average Grant-date Fair Value Nonvested at January 1, 2020 44,450 $ 31.11 Granted — — Vested — — Forfeited — — Nonvested as of March 31, 2020 44,450 $ 31.11 For the three March 31, 2020 2019 $112,000 $90,000, March 31, 2020 $839,000 three not |
Note 7 - Fair Value
Note 7 - Fair Value | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 7. Fair Value Management uses its best judgment in estimating the fair value of the Corporation’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not not may Assets measured at fair value on a recurring basis. The Corporation used the following methods and significant assumptions to estimate the fair value of the following assets: Debt securities available-for-sale, equity securities – The fair value of all investment securities are based upon the assumptions market participants would use in pricing the security. If available, investment securities are determined by quoted market prices (Level 1 1 not 2 2 not 3 may For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy are as follows: (Dollar amounts in thousands) (Level 1) (Level 2) (Level 3) Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2020: Securities available-for-sale U.S. government sponsored entities and agencies $ 1,027 $ — $ 1,027 $ — U.S. agency mortgage-backed securities: residential 41,057 — 41,057 — U.S. agency collateralized mortgage obligations: residential 31,773 — 31,773 — State and political subdivision 28,367 — 28,367 — Corporate debt securities 12,195 — 8,173 4,022 Total available-for-sale securities $ 114,419 $ — $ 110,397 $ 4,022 Equity securities $ 9 $ 9 $ — $ — December 31, 2019: Securities available-for-sale U.S. government sponsored entities and agencies $ 7,077 $ — $ 7,077 $ — U.S. agency mortgage-backed securities: residential 41,075 — 41,075 — U.S. agency collateralized mortgage obligations: residential 32,837 — 32,837 — State and political subdivisions 27,796 — 27,796 — Corporate debt securities 11,322 — 7,300 4,022 Total available-for-sale securities $ 120,107 $ — $ 116,085 $ 4,022 Equity securities $ 19 $ 19 $ — $ — The Corporation’s policy is to transfer assets or liabilities from one three March 31, 2020 2019 , the Corporation had no The following table presents changes in Level 3 three three March 31, 2020 2019 : (Dollar amounts in thousands) Three Months Ended March 31, 2020 2019 Balance at the beginning of the period $ 4,022 $ 3,500 Total gains or losses (realized/unrealized): Included in earnings — — Included in other comprehensive income — — Transfers in and/or out of Level 3 — — Balance at the end of the period $ 4,022 $ 3,500 Assets measured at fair value on a non-recurring basis. The Corporation used the following methods and significant assumptions to estimate the fair value of the following assets: Impaired loans – may 3 may 3 March 31, 2020 one $131,000 $150,000 $19,000 two $40,000, $45,000, $5,000. December 31, 2019 not three March 31, 2020 2019 $24,000 $63,000, Other real estate owned (OREO) – Assets acquired through or instead of foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals. Management’s ongoing review of appraisal information may 3 March 31, 2020 , the Corporation had no December 31, 2019 $88,000, $91,000, $3,000. first 2020. three March 31, 2020 no $21,000 2019 Appraisals for both collateral-dependent impaired loans and OREO are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed by the Corporation. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Corporation compares the actual selling price of OREO that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. The most recent analysis performed indicated that a discount of 10% For assets measured at fair value on a non-recurring basis, the fair value measurements by level within the fair value hierarchy are as follows: (Dollar amounts in thousands) (Level 1) (Level 2) (Level 3) Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2020: Impaired commercial real estate loans $ 131 $ — $ — $ 131 Impaired commercial business loans 40 — — 40 Total $ 171 $ — $ — $ 171 December 31, 2019: Other real estate owned $ 88 $ — $ — $ 88 Total $ 88 $ — $ — $ 88 The following table presents quantitative information about Level 3 (Dollar amounts in thousands) Valuation Unobservable Weighted Techniques(s) Input(s) Average March 31, 2020: Impaired commercial real estate loans $ 131 Sales comparison approach Adjustment for differences between comparable sales 10 % Impaired commercial business loans 40 Liquidation value of business assets Adjustment for differences between comparable business assets 10-100% (18.5%) December 31, 2019: Other real estate owned $ 88 Sales comparison approach Adjustment for differences between comparable sales 10 % At March 31, 2020 December 31, 2019 was an impaired residential mortgage loan totaling $70,000 $67,000, $4,000 $4,000, The following table sets forth the carrying amount and fair value of the Corporation’s financial instruments included in the consolidated balance sheet: (Dollar amounts in thousands) Carrying Fair Value Measurements using: Description Amount Total Level 1 Level 2 Level 3 March 31, 2020: Financial Assets: Cash and cash equivalents $ 10,089 $ 10,089 $ 10,089 $ — $ — Interest earning time deposits 8,948 8,948 — 8,948 — Securities - available-for-sale 114,419 114,419 — 110,397 4,022 Securities - equities 9 9 9 — — Loans, net 734,730 730,472 — — 730,472 Federal bank stock 6,866 N/A N/A N/A N/A Accrued interest receivable 2,861 2,861 114 476 2,271 Total $ 877,922 $ 866,798 $ 10,212 $ 119,821 $ 736,765 Financial Liabilities: Deposits 782,716 788,806 570,399 218,407 — Borrowed funds 60,550 52,678 — 52,678 — Accrued interest payable 661 661 57 604 — Total $ 843,927 $ 842,145 $ 570,456 $ 271,689 $ — December 31, 2019: Financial Assets: Cash and cash equivalents $ 14,986 $ 14,986 $ 14,986 $ — $ — Interest earning time deposits 9,698 9,698 — 9,698 — Securities - available-for-sale 120,107 120,107 — 116,085 4,022 Securities - equities 19 19 19 — — Loans, net 695,348 697,990 — — 697,990 Federal bank stock 5,790 N/A N/A N/A N/A Accrued interest receivable 2,600 2,600 78 419 2,103 Total $ 848,548 $ 845,400 $ 15,083 $ 126,202 $ 704,115 Financial Liabilities: Deposits 787,124 793,999 569,357 224,642 — Borrowed funds 28,550 29,133 — 29,133 — Accrued interest payable 616 616 51 565 — Total $ 816,290 $ 823,748 $ 569,408 $ 254,340 $ — This information should not may not |
Note 8 - Regulatory Matters
Note 8 - Regulatory Matters | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 8. Regulatory Matters Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (BASEL III rules) became effective for the Bank on January 1, 2015 January 1, 2019. 0.0% 2015 2.50% 2019. 2019 2.50% 2018 1.875%. not March 31, 2020 Prompt corrective action regulations provide five not March 31, 2020 no The following table sets forth certain information concerning the Bank’s regulatory capital as of the dates presented. The capital adequacy ratios disclosed below are exclusive of the capital conservation buffer. (Dollar amounts in thousands) March 31, 2020 December 31, 2019 Amount Ratio Amount Ratio Total capital to risk-weighted assets: Actual $ 81,321 12.99 % $ 80,418 13.74 % For capital adequacy purposes 50,073 8.00 % 46,836 8.00 % To be well capitalized 62,592 10.00 % 58,544 10.00 % Tier 1 capital to risk-weighted assets: Actual $ 74,101 11.84 % $ 73,862 12.62 % For capital adequacy purposes 37,555 6.00 % 35,127 6.00 % To be well capitalized 50,073 8.00 % 46,836 8.00 % Common Equity Tier 1 capital to risk-weighted assets: Actual $ 74,101 11.84 % $ 73,862 12.62 % For capital adequacy purposes 28,166 4.50 % 26,345 4.50 % To be well capitalized 40,685 6.50 % 38,054 6.50 % Tier 1 capital to average assets: Actual $ 74,101 8.10 % $ 73,862 8.17 % For capital adequacy purposes 36,608 4.00 % 36,146 4.00 % To be well capitalized 45,761 5.00 % 45,182 5.00 % |
Note 9 - Accumulated Other Comp
Note 9 - Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 9. Accumulated Other Comprehensive Income (Loss) The following tables summarize the changes within each classification of accumulated other comprehensive income (loss), net of tax, for the three March 31, 2020 2019 (Dollar amounts in thousands) Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Totals Accumulated Other Comprehensive Income (Loss) at January 1, 2020 $ (108 ) $ (5,227 ) $ (5,335 ) Other comprehensive income before reclassification 1,259 — 1,259 Amounts reclassified from accumulated other comprehensive income (loss) (62 ) — (62 ) Net current period other comprehensive income (loss) 1,197 — 1,197 Accumulated Other Comprehensive Income (Loss) at March 31, 2020 $ 1,089 $ (5,227 ) $ (4,138 ) (Dollar amounts in thousands) Amount Reclassified Details about Accumulated Other Comprehensive Loss Components from Accumulated Other Comprehensive Income For the three months ended March 31, 2020 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains and losses on available-for-sale securities $ (78 ) Net gain on sale of available-for-sale securities Tax effect 16 Provision for income taxes Total reclassifications for the period $ (62 ) Net of tax (Dollar amounts in thousands) Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Totals Accumulated Other Comprehensive Income (Loss) at January 1, 2019 $ (1,517 ) $ (4,840 ) $ (6,357 ) Other comprehensive income before reclassification 875 — 875 Amounts reclassified from accumulated other comprehensive income (loss) (2 ) — (2 ) Net current period other comprehensive income (loss) 873 — 873 Accumulated Other Comprehensive Income (Loss) at March 31, 2019 $ (644 ) $ (4,840 ) $ (5,484 ) (Dollar amounts in thousands) Amount Reclassified Details about Accumulated Other Comprehensive Loss Components from Accumulated Other Comprehensive Income For the three months ended March 31, 2019 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains and losses on available-for-sale securities $ (2 ) Net gain on sale of available-for-sale securities Tax effect — Provision for income taxes Total reclassifications for the period $ (2 ) Net of tax |
Note 10 - Revenue Recognition
Note 10 - Revenue Recognition | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 10. Revenue Recognition On January 1, 2018, 2014 09 606 606. not 606. 606, no Service charges on deposits: Electronic banking fees: The following table presents the Corporation's sources of noninterest income for the three March 31, 2020 and 2019 (Dollar amounts in thousands) For the Three Months Ended March 31, 2020 2019 Noninterest income In-scope of Topic 606: Service charges on deposits Maintenance fees $ 53 $ 40 Overdraft fees 328 438 Other fees 70 77 Electronic banking fees (1) 332 324 Noninterest income (in-scope of Topic 606) 783 879 Noninterest income (out-of-scope of Topic 606) (2) 242 178 Total noninterest income $ 1,025 $ 1,057 ( 1 Included in other noninterest income on the consolidated statement of income. ( 2 Noninterest income items that are out-of-scope include net realized gains (losses) on sales of securities, net gains (losses) on sales of loans, earnings on bank-owned life insurance and certain other noninterest income items. |
Note 11 - Leases
Note 11 - Leases | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 11. Leases Effective January 1, 2019, 2016 02, 842 March 31, 2020 five August 2025 December 2056, no 12.84 March 31, 2020 13.45 March 31, 2019 The discount rate used in determining the lease liability for each individual lease was the FHLB fixed advance rate which corresponded with the remaining lease term as of January 1, 2019 3.49% March 31, 2020 3.47% March 31, 2019 The total operating lease costs were $48,000 $49,000, three March 31, 2020 2019. $1.5 $1.7 March 31, 2020 $1.6 $1.8 March 31, 2019 Total estimated rental commitments for the operating leases were as follows as of March 31, 2020 (Dollar amounts in thousands) Year ending December 31: 2020 (excluding three months) $ 159 2021 217 2022 222 2023 222 2024 227 Thereafter 1,063 Total minimum lease payments 2,110 Discount effect of cash flows (441 ) Present value of lease liabilities $ 1,669 |
Note 12 - Recent Accounting Pro
Note 12 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 12. Recent Accounting Pronouncements Newly Issued Not In June 2016, 2016 13, 326 2016 13 1 2 3 December 15, 2019, October 16, 2019, December 15, 2022. 2016 13 In August 2018, 2018 14, 2018 14 one December 15, 2020. not 2018 14 In December 2019, 2019 12, 2019 12 December 15, 2020, 2019 12 Adoption of New Accounting Policies In January 2017, 2017 04, 2 not first December 15, 2019. January 1, 2017. not November 30, 2019, no In August 2018, 2018 13, 2018 13 1 2, 3 3 3 December 15, 2019. not In March 2020, not 310 40 19 March 1, 2020 1 December 31, 2020 2 60 19 not 30 December 31, 2019 may |
Note 2 - Earnings Per Common _2
Note 2 - Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (Dollar amounts in thousands, except for per share amounts) For the Three Months Ended March 31, 2020 2019 Net income $ 1,190 $ 2,082 Less: Preferred stock dividends — — Net income available to common stockholders $ 1,190 $ 2,082 Average common shares outstanding 2,708,712 2,698,712 Add: Dilutive effects of restricted stock awards 14,898 13,706 Average shares and dilutive potential common shares 2,723,610 2,712,418 Basic earnings per common share $ 0.44 $ 0.77 Diluted earnings per common share $ 0.44 $ 0.77 Restricted stock awards not considered in computing earnings per share because they were antidulitive — — |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | (Dollar amounts in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2020: U.S. government sponsored entities and agencies $ 1,000 $ 27 $ — $ 1,027 U.S. agency mortgage-backed securities: residential 40,099 1,011 (53 ) 41,057 U.S. agency collateralized mortgage obligations: residential 31,385 541 (153 ) 31,773 State and political subdivisions 28,123 390 (146 ) 28,367 Corporate debt securities 12,433 130 (368 ) 12,195 Total securities available-for-sale $ 113,040 $ 2,099 $ (720 ) $ 114,419 December 31, 2019: U.S. government sponsored entities and agencies $ 7,069 $ 14 $ (6 ) $ 7,077 U.S. agency mortgage-backed securities: residential 40,868 291 (84 ) 41,075 U.S. agency collateralized mortgage obligations: residential 33,001 71 (235 ) 32,837 State and political subdivisions 27,848 217 (269 ) 27,796 Corporate debt securities 11,459 93 (230 ) 11,322 Total securities available-for-sale $ 120,245 $ 686 $ (824 ) $ 120,107 |
Investments Classified by Contractual Maturity Date [Table Text Block] | (Dollar amounts in thousands) Available-for-sale Amortized Cost Fair Value Due in one year or less $ 1,240 $ 1,203 Due after one year through five years 2,067 2,106 Due after five through ten years 14,994 14,900 Due after ten years 23,255 23,380 Mortgage-backed securities: residential 40,099 41,057 Collateralized mortgage obligations: residential 31,385 31,773 Total securities available-for-sale $ 113,040 $ 114,419 |
Schedule of Unrealized Loss on Investments [Table Text Block] | (Dollar amounts in thousands) Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 31, 2020: U.S. agency mortgage-backed securities: residential $ — $ — $ 10,791 $ (53 ) $ 10,791 $ (53 ) U.S. agency collateralized mortgage obligations: residential 6,268 (72 ) 3,248 (81 ) 9,516 (153 ) State and political subdivisions 6,375 (146 ) — — 6,375 (146 ) Corporate debt securities 6,590 (300 ) 432 (68 ) 7,022 (368 ) Total $ 19,233 $ (518 ) $ 14,471 $ (202 ) $ 33,704 $ (720 ) December 31, 2019: U.S. government sponsored entities and agencies $ — $ — $ 2,032 $ (6 ) $ 2,032 $ (6 ) U.S. agency mortgage-backed securities: residential 14,578 (76 ) 2,325 (8 ) 16,903 (84 ) U.S. agency collateralized mortgage obligations: residential 12,319 (32 ) 11,621 (203 ) 23,940 (235 ) State and political subdivisions 15,636 (269 ) — — 15,636 (269 ) Corporate debt securities 4,031 (229 ) 499 (1 ) 4,530 (230 ) Total $ 46,564 $ (606 ) $ 16,477 $ (218 ) $ 63,041 $ (824 ) |
Schedule of Realized Gain (Loss) [Table Text Block] | (Dollar amounts in thousands) For the Three Months Ended March 31, 2020 2019 Proceeds $ 8,226 $ 3,975 Gains 82 6 Losses (4 ) (4 ) Tax provision related to gains (losses) 16 — |
Note 4 - Loans Receivable and_2
Note 4 - Loans Receivable and Related Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (Dollar amounts in thousands) March 31, 2020 December 31, 2019 Mortgage loans on real estate: Residential first mortgages $ 294,361 $ 293,170 Home equity loans and lines of credit 95,459 97,541 Commercial real estate 263,948 229,951 Total real estate loans 653,768 620,662 Other loans: Commercial business 69,077 66,603 Consumer 19,105 14,639 Total other loans 88,182 81,242 Total loans, gross 741,950 701,904 Less allowance for loan losses 7,220 6,556 Total loans, net $ 734,730 $ 695,348 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | (Dollar amounts in thousands) Residential Mortgages Home Equity & Lines of Credit Commercial Real Estate Commercial Business Consumer Total Three months ended March 31, 2020: Allowance for loan losses: Beginning Balance $ 2,309 $ 626 $ 2,898 $ 636 $ 87 $ 6,556 Charge-offs (11 ) (39 ) (73 ) — (15 ) (138 ) Recoveries — — 3 — 7 10 Provision 31 54 606 45 56 792 Ending Balance $ 2,329 $ 641 $ 3,434 $ 681 $ 135 $ 7,220 At March 31, 2020: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 2 $ — $ 19 $ 5 $ — $ 26 Acquired loans collectively evaluated for impairment — — — — — — Originated loans collectively evaluated for impairment 2,327 641 3,415 676 135 7,194 Total $ 2,329 $ 641 $ 3,434 $ 681 $ 135 $ 7,220 Total loans: Individually evaluated for impairment $ 349 $ 4 $ 1,217 $ 88 $ — $ 1,658 Acquired loans collectively evaluated for impairment 57,891 10,177 38,619 7,026 1,607 115,320 Originated loans collectively evaluated for impairment 236,121 85,278 224,112 61,963 17,498 624,972 Total $ 294,361 $ 95,459 $ 263,948 $ 69,077 $ 19,105 $ 741,950 At December 31, 2019: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 5 $ — $ — $ — $ — $ 5 Acquired loans collectively evaluated for impairment — — — — — — Originated loans collectively evaluated for impairment 2,304 626 2,898 636 87 6,551 Total $ 2,309 $ 626 $ 2,898 $ 636 $ 87 $ 6,556 Total loans: Individually evaluated for impairment $ 358 $ 4 $ 81 $ 40 $ — $ 483 Acquired loans collectively evaluated for impairment 60,523 10,901 41,993 7,930 1,982 123,329 Originated loans collectively evaluated for impairment 232,289 86,636 187,877 58,633 12,657 578,092 Total $ 293,170 $ 97,541 $ 229,951 $ 66,603 $ 14,639 $ 701,904 Three months ended March 31, 2019: Allowance for loan losses: Beginning Balance $ 2,198 $ 648 $ 3,106 $ 500 $ 56 $ 6,508 Charge-offs (10 ) (4 ) (5 ) (71 ) (39 ) (129 ) Recoveries 40 1 15 — 24 80 Provision 28 5 (73 ) 206 14 180 Ending Balance $ 2,256 $ 650 $ 3,043 $ 635 $ 55 $ 6,639 |
Impaired Financing Receivables [Table Text Block] | (Dollar amounts in thousands) Impaired Loans with Specific Allowance As of March 31, 2020 For the Three Months Ended March 31, 2020 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 71 $ 71 $ 2 $ 71 $ 1 $ 1 Home equity and lines of credit 4 4 — 4 — — Commercial real estate 150 150 19 75 — — Commercial business 45 45 5 23 1 1 Consumer — — — — — — Total $ 270 $ 270 $ 26 $ 173 $ 2 $ 2 Impaired Loans with No Specific Allowance As of March 31, 2020 For the Three Months Ended March 31, 2020 Unpaid Principal Balance Recorded Investment Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 390 $ 278 $ 282 $ 1 $ 1 Home equity and lines of credit — — — — — Commercial real estate 1,067 1,067 574 13 13 Commercial business 43 43 41 1 — Consumer — — — — — Total $ 1,500 $ 1,388 $ 897 $ 15 $ 14 (Dollar amounts in thousands) Impaired Loans with Specific Allowance As of December 31, 2019 For the year ended December 31, 2019 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 72 $ 72 $ 5 $ 72 $ 3 $ 3 Home equity and lines of credit 4 4 — 5 — — Commercial real estate — — — — — — Commercial business — — — — — — Consumer — — — — — — Total $ 76 $ 76 $ 5 $ 77 $ 3 $ 3 Impaired Loans with No Specific Allowance As of December 31, 2019 For the year ended December 31, 2019 Unpaid Principal Balance Recorded Investment Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 398 $ 286 $ 301 $ 4 $ 4 Home equity and lines of credit — — — — — Commercial real estate 81 81 1,019 88 35 Commercial business 40 40 79 7 2 Consumer — — — — — Total $ 519 $ 407 $ 1,399 $ 99 $ 41 (Dollar amounts in thousands) Impaired Loans with Specific Allowance As of March 31, 2019 For the three months ended March 31, 2019 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 73 $ 73 $ 7 $ 73 $ 1 $ 1 Home equity and lines of credit 5 5 — 6 — — Commercial real estate — — — — — — Commercial business 63 63 63 31 — — Consumer — — — — — — Total $ 141 $ 141 $ 70 $ 110 $ 1 $ 1 Impaired Loans with No Specific Allowance As of March 31, 2019 For the three months ended March 31, 2019 Unpaid Principal Balance Recorded Investment Average Recorded Investment Interest Income Recognized in Period Cash Basis Interest Recognized in Period Residential first mortgages $ 382 $ 307 $ 311 $ 1 $ 1 Home equity and lines of credit — — — — — Commercial real estate 32 32 33 1 1 Commercial business 40 40 39 1 1 Consumer — — — — — Total $ 454 $ 379 $ 383 $ 3 $ 3 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (Dollar amounts in thousands) Not Rated Pass Special Mention Substandard Doubtful Total March 31, 2020: Residential first mortgages $ 293,491 $ — $ — $ 870 $ — $ 294,361 Home equity and lines of credit 94,928 — — 531 — 95,459 Commercial real estate — 251,246 5,159 7,543 — 263,948 Commercial business — 67,130 203 1,744 — 69,077 Consumer 18,983 — — 122 — 19,105 Total loans $ 407,402 $ 318,376 $ 5,362 $ 10,810 $ — $ 741,950 December 31, 2019: Residential first mortgages $ 291,843 $ — $ — $ 1,327 $ — $ 293,170 Home equity and lines of credit 97,087 — — 454 — 97,541 Commercial real estate — 216,744 5,370 7,837 — 229,951 Commercial business — 64,636 204 1,763 — 66,603 Consumer 14,557 — — 82 — 14,639 Total loans $ 403,487 $ 281,380 $ 5,574 $ 11,463 $ — $ 701,904 |
Financing Receivable, Past Due [Table Text Block] | (Dollar amounts in thousands) Performing Nonperforming Accruing Loans Not Past Due Accruing 30-59 Days Past Due Accruing 60-89 Days Past Due Accruing 90+ Days Past Due Nonaccrual Total March 31, 2020: Residential first mortgages $ 290,062 $ 2,050 $ 1,379 $ 62 $ 808 $ 294,361 Home equity and lines of credit 93,725 731 472 180 351 95,459 Commercial real estate 260,032 1,620 1,019 235 1,042 263,948 Commercial business 68,571 172 68 3 263 69,077 Consumer 18,865 66 52 — 122 19,105 Total loans $ 731,255 $ 4,639 $ 2,990 $ 480 $ 2,586 $ 741,950 December 31, 2019: Residential first mortgages $ 288,399 $ 2,405 $ 1,039 $ 372 $ 955 $ 293,170 Home equity and lines of credit 95,908 626 553 26 428 97,541 Commercial real estate 226,133 2,141 543 227 907 229,951 Commercial business 66,087 225 72 4 215 66,603 Consumer 14,458 84 15 — 82 14,639 Total loans $ 690,985 $ 5,481 $ 2,222 $ 629 $ 2,587 $ 701,904 |
Financing Receivable, Nonaccrual [Table Text Block] | (Dollar amounts in thousands) Not Past Due 30-59 Days Past Due 60-89 Days Past Due 90 Days + Past Due Total March 31, 2020: Residential first mortgages $ 239 $ — $ 71 $ 498 $ 808 Home equity and lines of credit 3 — — 348 351 Commercial real estate 134 250 159 499 1,042 Commercial business — 41 — 222 263 Consumer — — — 122 122 Total loans $ 376 $ 291 $ 230 $ 1,689 $ 2,586 December 31, 2019: Residential first mortgages $ 245 $ — $ 72 $ 638 $ 955 Home equity and lines of credit 4 — — 424 428 Commercial real estate 28 309 31 539 907 Commercial business — — 175 40 215 Consumer — — — 82 82 Total loans $ 277 $ 309 $ 278 $ 1,723 $ 2,587 |
Note 5 - Goodwill and Intangi_2
Note 5 - Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | (Dollar amounts in thousands) March 31, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Goodwill $ 19,460 $ — $ 19,460 $ — Core deposit intangibles 5,634 4,429 5,634 4,387 Total $ 25,094 $ 4,429 $ 25,094 $ 4,387 |
Note 6 - Stock Compensation P_2
Note 6 - Stock Compensation Plan (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Shares Weighted-Average Grant-date Fair Value Nonvested at January 1, 2020 44,450 $ 31.11 Granted — — Vested — — Forfeited — — Nonvested as of March 31, 2020 44,450 $ 31.11 |
Note 7 - Fair Value (Tables)
Note 7 - Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | (Dollar amounts in thousands) (Level 1) (Level 2) (Level 3) Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2020: Securities available-for-sale U.S. government sponsored entities and agencies $ 1,027 $ — $ 1,027 $ — U.S. agency mortgage-backed securities: residential 41,057 — 41,057 — U.S. agency collateralized mortgage obligations: residential 31,773 — 31,773 — State and political subdivision 28,367 — 28,367 — Corporate debt securities 12,195 — 8,173 4,022 Total available-for-sale securities $ 114,419 $ — $ 110,397 $ 4,022 Equity securities $ 9 $ 9 $ — $ — December 31, 2019: Securities available-for-sale U.S. government sponsored entities and agencies $ 7,077 $ — $ 7,077 $ — U.S. agency mortgage-backed securities: residential 41,075 — 41,075 — U.S. agency collateralized mortgage obligations: residential 32,837 — 32,837 — State and political subdivisions 27,796 — 27,796 — Corporate debt securities 11,322 — 7,300 4,022 Total available-for-sale securities $ 120,107 $ — $ 116,085 $ 4,022 Equity securities $ 19 $ 19 $ — $ — |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | (Dollar amounts in thousands) Three Months Ended March 31, 2020 2019 Balance at the beginning of the period $ 4,022 $ 3,500 Total gains or losses (realized/unrealized): Included in earnings — — Included in other comprehensive income — — Transfers in and/or out of Level 3 — — Balance at the end of the period $ 4,022 $ 3,500 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | (Dollar amounts in thousands) (Level 1) (Level 2) (Level 3) Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2020: Impaired commercial real estate loans $ 131 $ — $ — $ 131 Impaired commercial business loans 40 — — 40 Total $ 171 $ — $ — $ 171 December 31, 2019: Other real estate owned $ 88 $ — $ — $ 88 Total $ 88 $ — $ — $ 88 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | (Dollar amounts in thousands) Valuation Unobservable Weighted Techniques(s) Input(s) Average March 31, 2020: Impaired commercial real estate loans $ 131 Sales comparison approach Adjustment for differences between comparable sales 10 % Impaired commercial business loans 40 Liquidation value of business assets Adjustment for differences between comparable business assets 10-100% (18.5%) December 31, 2019: Other real estate owned $ 88 Sales comparison approach Adjustment for differences between comparable sales 10 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (Dollar amounts in thousands) Carrying Fair Value Measurements using: Description Amount Total Level 1 Level 2 Level 3 March 31, 2020: Financial Assets: Cash and cash equivalents $ 10,089 $ 10,089 $ 10,089 $ — $ — Interest earning time deposits 8,948 8,948 — 8,948 — Securities - available-for-sale 114,419 114,419 — 110,397 4,022 Securities - equities 9 9 9 — — Loans, net 734,730 730,472 — — 730,472 Federal bank stock 6,866 N/A N/A N/A N/A Accrued interest receivable 2,861 2,861 114 476 2,271 Total $ 877,922 $ 866,798 $ 10,212 $ 119,821 $ 736,765 Financial Liabilities: Deposits 782,716 788,806 570,399 218,407 — Borrowed funds 60,550 52,678 — 52,678 — Accrued interest payable 661 661 57 604 — Total $ 843,927 $ 842,145 $ 570,456 $ 271,689 $ — December 31, 2019: Financial Assets: Cash and cash equivalents $ 14,986 $ 14,986 $ 14,986 $ — $ — Interest earning time deposits 9,698 9,698 — 9,698 — Securities - available-for-sale 120,107 120,107 — 116,085 4,022 Securities - equities 19 19 19 — — Loans, net 695,348 697,990 — — 697,990 Federal bank stock 5,790 N/A N/A N/A N/A Accrued interest receivable 2,600 2,600 78 419 2,103 Total $ 848,548 $ 845,400 $ 15,083 $ 126,202 $ 704,115 Financial Liabilities: Deposits 787,124 793,999 569,357 224,642 — Borrowed funds 28,550 29,133 — 29,133 — Accrued interest payable 616 616 51 565 — Total $ 816,290 $ 823,748 $ 569,408 $ 254,340 $ — |
Note 8 - Regulatory Matters (Ta
Note 8 - Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollar amounts in thousands) March 31, 2020 December 31, 2019 Amount Ratio Amount Ratio Total capital to risk-weighted assets: Actual $ 81,321 12.99 % $ 80,418 13.74 % For capital adequacy purposes 50,073 8.00 % 46,836 8.00 % To be well capitalized 62,592 10.00 % 58,544 10.00 % Tier 1 capital to risk-weighted assets: Actual $ 74,101 11.84 % $ 73,862 12.62 % For capital adequacy purposes 37,555 6.00 % 35,127 6.00 % To be well capitalized 50,073 8.00 % 46,836 8.00 % Common Equity Tier 1 capital to risk-weighted assets: Actual $ 74,101 11.84 % $ 73,862 12.62 % For capital adequacy purposes 28,166 4.50 % 26,345 4.50 % To be well capitalized 40,685 6.50 % 38,054 6.50 % Tier 1 capital to average assets: Actual $ 74,101 8.10 % $ 73,862 8.17 % For capital adequacy purposes 36,608 4.00 % 36,146 4.00 % To be well capitalized 45,761 5.00 % 45,182 5.00 % |
Note 9 - Accumulated Other Co_2
Note 9 - Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollar amounts in thousands) Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Totals Accumulated Other Comprehensive Income (Loss) at January 1, 2020 $ (108 ) $ (5,227 ) $ (5,335 ) Other comprehensive income before reclassification 1,259 — 1,259 Amounts reclassified from accumulated other comprehensive income (loss) (62 ) — (62 ) Net current period other comprehensive income (loss) 1,197 — 1,197 Accumulated Other Comprehensive Income (Loss) at March 31, 2020 $ 1,089 $ (5,227 ) $ (4,138 ) (Dollar amounts in thousands) Unrealized Gains and Losses on Available-for-Sale Securities Defined Benefit Pension Items Totals Accumulated Other Comprehensive Income (Loss) at January 1, 2019 $ (1,517 ) $ (4,840 ) $ (6,357 ) Other comprehensive income before reclassification 875 — 875 Amounts reclassified from accumulated other comprehensive income (loss) (2 ) — (2 ) Net current period other comprehensive income (loss) 873 — 873 Accumulated Other Comprehensive Income (Loss) at March 31, 2019 $ (644 ) $ (4,840 ) $ (5,484 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | (Dollar amounts in thousands) Amount Reclassified Details about Accumulated Other Comprehensive Loss Components from Accumulated Other Comprehensive Income For the three months ended March 31, 2020 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains and losses on available-for-sale securities $ (78 ) Net gain on sale of available-for-sale securities Tax effect 16 Provision for income taxes Total reclassifications for the period $ (62 ) Net of tax (Dollar amounts in thousands) Amount Reclassified Details about Accumulated Other Comprehensive Loss Components from Accumulated Other Comprehensive Income For the three months ended March 31, 2019 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains and losses on available-for-sale securities $ (2 ) Net gain on sale of available-for-sale securities Tax effect — Provision for income taxes Total reclassifications for the period $ (2 ) Net of tax |
Note 10 - Revenue Recognition (
Note 10 - Revenue Recognition (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | (Dollar amounts in thousands) For the Three Months Ended March 31, 2020 2019 Noninterest income In-scope of Topic 606: Service charges on deposits Maintenance fees $ 53 $ 40 Overdraft fees 328 438 Other fees 70 77 Electronic banking fees (1) 332 324 Noninterest income (in-scope of Topic 606) 783 879 Noninterest income (out-of-scope of Topic 606) (2) 242 178 Total noninterest income $ 1,025 $ 1,057 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (Dollar amounts in thousands) Year ending December 31: 2020 (excluding three months) $ 159 2021 217 2022 222 2023 222 2024 227 Thereafter 1,063 Total minimum lease payments 2,110 Discount effect of cash flows (441 ) Present value of lease liabilities $ 1,669 |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Basis of Presentation (Details Textual) | May 01, 2020USD ($) | May 06, 2020USD ($) | Apr. 30, 2020USD ($) | Mar. 31, 2020USD ($) |
Financing Receivable, Number of Payment Deferrals | 76 | |||
Financing Receivable, Principal and Interest Deferred Payments | $ 15,100,000 | |||
Subsequent Event [Member] | ||||
Financing Receivable, Number of Payment Deferrals | 391 | 391 | ||
Financing Receivable, Principal and Interest Deferred Payments | $ 78,700,000 | $ 78,700,000 | ||
Number of Paycheck Protection Program Loans Originated | 470 | |||
Financing Receivable, Paycheck Protection Program Loans Originated | $ 45,300,000 |
Note 2 - Earnings Per Common _3
Note 2 - Earnings Per Common Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net income | $ 1,190 | $ 2,082 |
Less: Preferred stock dividends | ||
Net income available to common stockholders | $ 1,190 | $ 2,082 |
Average common shares outstanding - basic (in shares) | 2,708,712 | 2,698,712 |
Add: Dilutive effects of restricted stock awards (in shares) | 14,898 | 13,706 |
Average shares and dilutive potential common shares (in shares) | 2,723,610 | 2,712,418 |
Basic earnings per common share (in dollars per share) | $ 0.44 | $ 0.77 |
Diluted earnings per common share (in dollars per share) | $ 0.44 | $ 0.77 |
Restricted stock awards not considered in computing earnings per share because they were antidulitive (in shares) |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) | 3 Months Ended | ||
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | |
Equity Securities, FV-NI | $ 9,000 | $ 19,000 | |
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | (10,000) | $ 16,000 | |
Equity Securities Sold, Amount | $ 0 | $ 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 37 | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 4 | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | ||
Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 15 | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 8 | ||
Collateralized Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 7 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 7 |
Note 3 - Securities - Summary o
Note 3 - Securities - Summary of Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt securities, amortized cost | $ 113,040 | $ 120,245 |
Debt securities, gross unrealized gains | 2,099 | 686 |
Debt securities, gross unrealized losses | (720) | (824) |
Debt securities, fair value | 114,419 | 120,107 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt securities, amortized cost | 1,000 | 7,069 |
Debt securities, gross unrealized gains | 27 | 14 |
Debt securities, gross unrealized losses | (6) | |
Debt securities, fair value | 1,027 | 7,077 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Debt securities, amortized cost | 40,099 | 40,868 |
Debt securities, gross unrealized gains | 1,011 | 291 |
Debt securities, gross unrealized losses | (53) | (84) |
Debt securities, fair value | 41,057 | 41,075 |
Collateralized Mortgage Obligations [Member] | ||
Debt securities, amortized cost | 31,385 | 33,001 |
Debt securities, gross unrealized gains | 541 | 71 |
Debt securities, gross unrealized losses | (153) | (235) |
Debt securities, fair value | 31,773 | 32,837 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities, amortized cost | 28,123 | 27,848 |
Debt securities, gross unrealized gains | 390 | 217 |
Debt securities, gross unrealized losses | (146) | (269) |
Debt securities, fair value | 28,367 | 27,796 |
Corporate Debt Securities [Member] | ||
Debt securities, amortized cost | 12,433 | 11,459 |
Debt securities, gross unrealized gains | 130 | 93 |
Debt securities, gross unrealized losses | (368) | (230) |
Debt securities, fair value | $ 12,195 | $ 11,322 |
Note 3 - Securities - Maturity
Note 3 - Securities - Maturity of Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Due in one year or less, amortized cost | $ 1,240 | |
Due in one year or less, fair value | 1,203 | |
Due after one year through five years, amortized cost | 2,067 | |
Due after one year through five years, fair value | 2,106 | |
Due after five through ten years, amortized cost | 14,994 | |
Due after five through ten years, fair value | 14,900 | |
Due after ten years, amortized cost | 23,255 | |
Due after ten years, fair value | 23,380 | |
Debt securities, amortized cost | 113,040 | $ 120,245 |
Debt securities, fair value | 114,419 | 120,107 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities without maturity date, amortized cost | 40,099 | |
Securities without maturity date, fair value | 41,057 | |
Debt securities, amortized cost | 40,099 | 40,868 |
Debt securities, fair value | 41,057 | 41,075 |
Collateralized Mortgage Obligations [Member] | ||
Securities without maturity date, amortized cost | 31,385 | |
Securities without maturity date, fair value | 31,773 | |
Debt securities, amortized cost | 31,385 | 33,001 |
Debt securities, fair value | $ 31,773 | $ 32,837 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Less than 12 months, fair value | $ 19,233 | $ 46,564 |
Less than 12 months, unrealized loss | (518) | (606) |
12 months or more, fair value | 14,471 | 16,477 |
12 months or more, unrealized loss | (202) | (218) |
Total, fair value | 33,704 | 63,041 |
Total, unrealized loss | (720) | (824) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Less than 12 months, fair value | 14,578 | |
Less than 12 months, unrealized loss | (76) | |
12 months or more, fair value | 10,791 | 2,325 |
12 months or more, unrealized loss | (53) | (8) |
Total, fair value | 10,791 | 16,903 |
Total, unrealized loss | (53) | (84) |
Collateralized Mortgage Obligations [Member] | ||
Less than 12 months, fair value | 6,268 | 12,319 |
Less than 12 months, unrealized loss | (72) | (32) |
12 months or more, fair value | 3,248 | 11,621 |
12 months or more, unrealized loss | (81) | (203) |
Total, fair value | 9,516 | 23,940 |
Total, unrealized loss | (153) | (235) |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 months, fair value | 6,375 | 15,636 |
Less than 12 months, unrealized loss | (146) | (269) |
12 months or more, fair value | ||
12 months or more, unrealized loss | ||
Total, fair value | 6,375 | 15,636 |
Total, unrealized loss | (146) | (269) |
Corporate Debt Securities [Member] | ||
Less than 12 months, fair value | 6,590 | 4,031 |
Less than 12 months, unrealized loss | (300) | (229) |
12 months or more, fair value | 432 | 499 |
12 months or more, unrealized loss | (68) | (1) |
Total, fair value | 7,022 | 4,530 |
Total, unrealized loss | $ (368) | (230) |
US Government Agencies Debt Securities [Member] | ||
Less than 12 months, fair value | ||
Less than 12 months, unrealized loss | ||
12 months or more, fair value | 2,032 | |
12 months or more, unrealized loss | (6) | |
Total, fair value | 2,032 | |
Total, unrealized loss | $ (6) |
Note 3 - Securities - Gains on
Note 3 - Securities - Gains on Sales of Available for Sale Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Proceeds | $ 8,226 | $ 3,975 |
Gains | 82 | 6 |
Losses | (4) | (4) |
Tax provision related to gains (losses) | $ 16 |
Note 4 - Loans Receivable and_3
Note 4 - Loans Receivable and Related Allowance for Loan Losses (Details Textual) | 3 Months Ended | |||||
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | May 06, 2020USD ($) | Apr. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Loans and Leases Receivable, Deferred Income, Total | $ 3,100,000 | $ 2,600,000 | ||||
Loans and Leases Receivable, Allowance, Ending Balance | 7,220,000 | $ 6,639,000 | 6,556,000 | $ 6,508,000 | ||
Financing Receivable, Troubled Debt Restructuring | 354,000 | 409,000 | ||||
Allowance for Losses Allocated to Loans Classified as TDRS | $ 2,000 | 5,000 | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | |||||
Financing Receivable, Number of Payment Deferrals | 76 | |||||
Financing Receivable, Principal and Interest Deferred Payments | $ 15,100,000 | |||||
Financing Receivable, Percent of Outstanding Loan Balance Deferred | 2.00% | |||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | ||||
Subsequent Event [Member] | ||||||
Financing Receivable, Number of Payment Deferrals | 391 | 391 | ||||
Financing Receivable, Principal and Interest Deferred Payments | $ 78,700,000 | $ 78,700,000 | ||||
Financing Receivable, Percent of Outstanding Loan Balance Deferred | 10.00% | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 3,434,000 | $ 3,043,000 | $ 2,898,000 | $ 3,106,000 | ||
Financing Receivable, Troubled Debt Restructuring | $ 74,000 | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | |||||
United American Savings Bank [Member] | ||||||
Loans and Leases Receivable, Allowance, Ending Balance | 0 | |||||
Northern Hancock Bank & Trust Co. [Member] | ||||||
Loans and Leases Receivable, Allowance, Ending Balance | 0 | |||||
Community First [Member] | ||||||
Loans and Leases Receivable, Allowance, Ending Balance | $ 0 |
Note 4 - Loans Receivable and_4
Note 4 - Loans Receivable and Related Allowance for Loan Losses - Summary of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Loans, gross | $ 741,950 | $ 701,904 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 7,220 | 6,556 | $ 6,639 | $ 6,508 |
Total loans, net | 734,730 | 695,348 | ||
Mortgage Receivable [Member] | ||||
Loans, gross | 653,768 | 620,662 | ||
Other Loans [Member] | ||||
Loans, gross | 88,182 | 81,242 | ||
Residential Portfolio Segment [Member] | ||||
Loans, gross | 294,361 | 293,170 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 2,329 | 2,309 | 2,256 | 2,198 |
Residential Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Loans, gross | 294,361 | 293,170 | ||
Home Equity Loans and Lines of Credit [Member] | ||||
Loans, gross | 95,459 | 97,541 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 641 | 626 | 650 | 648 |
Home Equity Loans and Lines of Credit [Member] | Mortgage Receivable [Member] | ||||
Loans, gross | 95,459 | 97,541 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans, gross | 263,948 | 229,951 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 3,434 | 2,898 | 3,043 | 3,106 |
Commercial Real Estate Portfolio Segment [Member] | Mortgage Receivable [Member] | ||||
Loans, gross | 263,948 | 229,951 | ||
Commercial Portfolio Segment [Member] | ||||
Loans, gross | 69,077 | 66,603 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 681 | 636 | 635 | 500 |
Commercial Portfolio Segment [Member] | Other Loans [Member] | ||||
Loans, gross | 69,077 | 66,603 | ||
Consumer Portfolio Segment [Member] | ||||
Loans, gross | 19,105 | 14,639 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 135 | 87 | $ 55 | $ 56 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||
Loans, gross | $ 19,105 | $ 14,639 |
Note 4 - Loans Receivable and_5
Note 4 - Loans Receivable and Related Allowance for Loan Losses - Activity in Allowance for Loan Losses by Portfolio (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2020 | Dec. 31, 2019 | |
Beginning Balance | $ 6,556 | $ 6,508 | ||
Charge-offs | (138) | (129) | ||
Recoveries | 10 | 80 | ||
Provision | 792 | 180 | ||
Ending Balance | 7,220 | 6,639 | ||
Individually evaluated for impairment | $ 26 | $ 5 | ||
Total | 6,556 | 6,639 | 7,220 | 6,556 |
Individually evaluated for impairment | 1,658 | 483 | ||
Loans, gross | 741,950 | 701,904 | ||
Financial Asset Acquired and No Credit Deterioration [Member] | ||||
Loans collectively evaluated for impairment | ||||
Loans collectively evaluated for impairment | 115,320 | 123,329 | ||
Financial Asset Originated [Member] | ||||
Loans collectively evaluated for impairment | 7,194 | 6,551 | ||
Loans collectively evaluated for impairment | 624,972 | 578,092 | ||
Residential Portfolio Segment [Member] | ||||
Beginning Balance | 2,309 | 2,198 | ||
Charge-offs | (11) | (10) | ||
Recoveries | 40 | |||
Provision | 31 | 28 | ||
Ending Balance | 2,329 | 2,256 | ||
Individually evaluated for impairment | 2 | 5 | ||
Total | 2,329 | 2,256 | 2,329 | 2,309 |
Individually evaluated for impairment | 349 | 358 | ||
Loans, gross | 294,361 | 293,170 | ||
Residential Portfolio Segment [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||||
Loans collectively evaluated for impairment | ||||
Loans collectively evaluated for impairment | 57,891 | 60,523 | ||
Residential Portfolio Segment [Member] | Financial Asset Originated [Member] | ||||
Loans collectively evaluated for impairment | 2,327 | 2,304 | ||
Loans collectively evaluated for impairment | 236,121 | 232,289 | ||
Home Equity Loans and Lines of Credit [Member] | ||||
Beginning Balance | 626 | 648 | ||
Charge-offs | (39) | (4) | ||
Recoveries | 1 | |||
Provision | 54 | 5 | ||
Ending Balance | 641 | 650 | ||
Individually evaluated for impairment | ||||
Total | 641 | 650 | 641 | 626 |
Individually evaluated for impairment | 4 | 4 | ||
Loans, gross | 95,459 | 97,541 | ||
Home Equity Loans and Lines of Credit [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||||
Loans collectively evaluated for impairment | ||||
Loans collectively evaluated for impairment | 10,177 | 10,901 | ||
Home Equity Loans and Lines of Credit [Member] | Financial Asset Originated [Member] | ||||
Loans collectively evaluated for impairment | 641 | 626 | ||
Loans collectively evaluated for impairment | 85,278 | 86,636 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Beginning Balance | 2,898 | 3,106 | ||
Charge-offs | (73) | (5) | ||
Recoveries | 3 | 15 | ||
Provision | 606 | (73) | ||
Ending Balance | 3,434 | 3,043 | ||
Individually evaluated for impairment | 19 | |||
Total | 3,434 | 3,043 | 3,434 | 2,898 |
Individually evaluated for impairment | 1,217 | 81 | ||
Loans, gross | 263,948 | 229,951 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||||
Loans collectively evaluated for impairment | ||||
Loans collectively evaluated for impairment | 38,619 | 41,993 | ||
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Originated [Member] | ||||
Loans collectively evaluated for impairment | 3,415 | 2,898 | ||
Loans collectively evaluated for impairment | 224,112 | 187,877 | ||
Commercial Portfolio Segment [Member] | ||||
Beginning Balance | 636 | 500 | ||
Charge-offs | (71) | |||
Recoveries | ||||
Provision | 45 | 206 | ||
Ending Balance | 681 | 635 | ||
Individually evaluated for impairment | 5 | |||
Total | 681 | 635 | 681 | 636 |
Individually evaluated for impairment | 88 | 40 | ||
Loans, gross | 69,077 | 66,603 | ||
Commercial Portfolio Segment [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||||
Loans collectively evaluated for impairment | ||||
Loans collectively evaluated for impairment | 7,026 | 7,930 | ||
Commercial Portfolio Segment [Member] | Financial Asset Originated [Member] | ||||
Loans collectively evaluated for impairment | 676 | 636 | ||
Loans collectively evaluated for impairment | 61,963 | 58,633 | ||
Consumer Portfolio Segment [Member] | ||||
Beginning Balance | 87 | 56 | ||
Charge-offs | (15) | (39) | ||
Recoveries | 7 | 24 | ||
Provision | 56 | 14 | ||
Ending Balance | 135 | 55 | ||
Individually evaluated for impairment | ||||
Total | $ 135 | $ 55 | 135 | 87 |
Individually evaluated for impairment | ||||
Loans, gross | 19,105 | 14,639 | ||
Consumer Portfolio Segment [Member] | Financial Asset Acquired and No Credit Deterioration [Member] | ||||
Loans collectively evaluated for impairment | ||||
Loans collectively evaluated for impairment | 1,607 | 1,982 | ||
Consumer Portfolio Segment [Member] | Financial Asset Originated [Member] | ||||
Loans collectively evaluated for impairment | 135 | 87 | ||
Loans collectively evaluated for impairment | $ 17,498 | $ 12,657 |
Note 4 - Loans Receivable and_6
Note 4 - Loans Receivable and Related Allowance for Loan Losses - Impaired Loans by Class (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Impaired loans with specific allowance, unpaid principal balance | $ 270 | $ 141 | $ 76 |
Impaired loans with specific allowance, recorded investment | 270 | 141 | 76 |
Related allowance | 26 | 70 | 5 |
Impaired loans with specific allowance, average recorded investment | 173 | 110 | 77 |
Impaired loans with specific allowance, interest income recognized in period | 2 | 1 | 3 |
Impaired loans with specific allowance, cash basis interest recognized in period | 2 | 1 | 3 |
Impaired loans with no specific allowance, unpaid principal balance | 1,500 | 454 | 519 |
Impaired loans with no specific allowance, recorded investment | 1,388 | 379 | 407 |
Impaired loans with no specific allowance, average recorded investment | 897 | 383 | 1,399 |
Impaired loans with no specific allowance, interest income recognized in period | 15 | 3 | 99 |
Impaired loans with no specific allowance, cash basis interest recognized in period | 14 | 3 | 41 |
Residential Portfolio Segment [Member] | |||
Impaired loans with specific allowance, unpaid principal balance | 71 | 73 | 72 |
Impaired loans with specific allowance, recorded investment | 71 | 73 | 72 |
Related allowance | 2 | 7 | 5 |
Impaired loans with specific allowance, average recorded investment | 71 | 73 | 72 |
Impaired loans with specific allowance, interest income recognized in period | 1 | 1 | 3 |
Impaired loans with specific allowance, cash basis interest recognized in period | 1 | 1 | 3 |
Impaired loans with no specific allowance, unpaid principal balance | 390 | 382 | 398 |
Impaired loans with no specific allowance, recorded investment | 278 | 307 | 286 |
Impaired loans with no specific allowance, average recorded investment | 282 | 311 | 301 |
Impaired loans with no specific allowance, interest income recognized in period | 1 | 1 | 4 |
Impaired loans with no specific allowance, cash basis interest recognized in period | 1 | 1 | 4 |
Home Equity Loans and Lines of Credit [Member] | |||
Impaired loans with specific allowance, unpaid principal balance | 4 | 5 | 4 |
Impaired loans with specific allowance, recorded investment | 4 | 5 | 4 |
Related allowance | |||
Impaired loans with specific allowance, average recorded investment | 4 | 6 | 5 |
Impaired loans with specific allowance, interest income recognized in period | |||
Impaired loans with specific allowance, cash basis interest recognized in period | |||
Impaired loans with no specific allowance, unpaid principal balance | |||
Impaired loans with no specific allowance, recorded investment | |||
Impaired loans with no specific allowance, average recorded investment | |||
Impaired loans with no specific allowance, interest income recognized in period | |||
Impaired loans with no specific allowance, cash basis interest recognized in period | |||
Commercial Real Estate Portfolio Segment [Member] | |||
Impaired loans with specific allowance, unpaid principal balance | 150 | ||
Impaired loans with specific allowance, recorded investment | 150 | ||
Related allowance | 19 | ||
Impaired loans with specific allowance, average recorded investment | 75 | ||
Impaired loans with specific allowance, interest income recognized in period | |||
Impaired loans with specific allowance, cash basis interest recognized in period | |||
Impaired loans with no specific allowance, unpaid principal balance | 1,067 | 32 | 81 |
Impaired loans with no specific allowance, recorded investment | 1,067 | 32 | 81 |
Impaired loans with no specific allowance, average recorded investment | 574 | 33 | 1,019 |
Impaired loans with no specific allowance, interest income recognized in period | 13 | 1 | 88 |
Impaired loans with no specific allowance, cash basis interest recognized in period | 13 | 1 | 35 |
Commercial Portfolio Segment [Member] | |||
Impaired loans with specific allowance, unpaid principal balance | 45 | 63 | |
Impaired loans with specific allowance, recorded investment | 45 | 63 | |
Related allowance | 5 | 63 | |
Impaired loans with specific allowance, average recorded investment | 23 | 31 | |
Impaired loans with specific allowance, interest income recognized in period | 1 | ||
Impaired loans with specific allowance, cash basis interest recognized in period | 1 | ||
Impaired loans with no specific allowance, unpaid principal balance | 43 | 40 | 40 |
Impaired loans with no specific allowance, recorded investment | 43 | 40 | 40 |
Impaired loans with no specific allowance, average recorded investment | 41 | 39 | 79 |
Impaired loans with no specific allowance, interest income recognized in period | 1 | 1 | 7 |
Impaired loans with no specific allowance, cash basis interest recognized in period | 1 | 2 | |
Consumer Portfolio Segment [Member] | |||
Impaired loans with specific allowance, unpaid principal balance | |||
Impaired loans with specific allowance, recorded investment | |||
Related allowance | |||
Impaired loans with specific allowance, average recorded investment | |||
Impaired loans with specific allowance, interest income recognized in period | |||
Impaired loans with specific allowance, cash basis interest recognized in period | |||
Impaired loans with no specific allowance, unpaid principal balance | |||
Impaired loans with no specific allowance, recorded investment | |||
Impaired loans with no specific allowance, average recorded investment | |||
Impaired loans with no specific allowance, interest income recognized in period | |||
Impaired loans with no specific allowance, cash basis interest recognized in period |
Note 4 - Loans Receivable and_7
Note 4 - Loans Receivable and Related Allowance for Loan Losses - Loan Portfolio by Internal Risk Rating (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans | $ 741,950 | $ 701,904 |
Residential Portfolio Segment [Member] | ||
Loans | 294,361 | 293,170 |
Home Equity Loans and Lines of Credit [Member] | ||
Loans | 95,459 | 97,541 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 263,948 | 229,951 |
Commercial Portfolio Segment [Member] | ||
Loans | 69,077 | 66,603 |
Consumer Portfolio Segment [Member] | ||
Loans | 19,105 | 14,639 |
Not Rated [Member] | ||
Loans | 407,402 | 403,487 |
Not Rated [Member] | Residential Portfolio Segment [Member] | ||
Loans | 293,491 | 291,843 |
Not Rated [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Loans | 94,928 | 97,087 |
Not Rated [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | ||
Not Rated [Member] | Commercial Portfolio Segment [Member] | ||
Loans | ||
Not Rated [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 18,983 | 14,557 |
Pass [Member] | ||
Loans | 318,376 | 281,380 |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Loans | ||
Pass [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Loans | ||
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 251,246 | 216,744 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 67,130 | 64,636 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | ||
Loans | 5,362 | 5,574 |
Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Loans | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 5,159 | 5,370 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 203 | 204 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Substandard [Member] | ||
Loans | 10,810 | 11,463 |
Substandard [Member] | Residential Portfolio Segment [Member] | ||
Loans | 870 | 1,327 |
Substandard [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Loans | 531 | 454 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 7,543 | 7,837 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 1,744 | 1,763 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 122 | 82 |
Doubtful [Member] | ||
Loans | ||
Doubtful [Member] | Residential Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Loans | ||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans |
Note 4 - Loans Receivable and_8
Note 4 - Loans Receivable and Related Allowance for Loan Losses - Classes of Loan Portfolio by Aging Categories (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accruing loans not past due | $ 731,255 | $ 690,985 |
Nonaccrual | 2,586 | 2,587 |
Loans | 741,950 | 701,904 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing loans past due | 4,639 | 5,481 |
Nonaccrual | 291 | 309 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing loans past due | 2,990 | 2,222 |
Nonaccrual | 230 | 278 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing loans past due | 480 | 629 |
Nonaccrual | 1,689 | 1,723 |
Residential Portfolio Segment [Member] | ||
Accruing loans not past due | 290,062 | 288,399 |
Nonaccrual | 808 | 955 |
Loans | 294,361 | 293,170 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing loans past due | 2,050 | 2,405 |
Nonaccrual | ||
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing loans past due | 1,379 | 1,039 |
Nonaccrual | 71 | 72 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing loans past due | 62 | 372 |
Nonaccrual | 498 | 638 |
Home Equity Loans and Lines of Credit [Member] | ||
Accruing loans not past due | 93,725 | 95,908 |
Nonaccrual | 351 | 428 |
Loans | 95,459 | 97,541 |
Home Equity Loans and Lines of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing loans past due | 731 | 626 |
Nonaccrual | ||
Home Equity Loans and Lines of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing loans past due | 472 | 553 |
Nonaccrual | ||
Home Equity Loans and Lines of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing loans past due | 180 | 26 |
Nonaccrual | 348 | 424 |
Commercial Real Estate Portfolio Segment [Member] | ||
Accruing loans not past due | 260,032 | 226,133 |
Nonaccrual | 1,042 | 907 |
Loans | 263,948 | 229,951 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing loans past due | 1,620 | 2,141 |
Nonaccrual | 250 | 309 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing loans past due | 1,019 | 543 |
Nonaccrual | 159 | 31 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing loans past due | 235 | 227 |
Nonaccrual | 499 | 539 |
Commercial Portfolio Segment [Member] | ||
Accruing loans not past due | 68,571 | 66,087 |
Nonaccrual | 263 | 215 |
Loans | 69,077 | 66,603 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing loans past due | 172 | 225 |
Nonaccrual | 41 | |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing loans past due | 68 | 72 |
Nonaccrual | 175 | |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing loans past due | 3 | 4 |
Nonaccrual | 222 | 40 |
Consumer Portfolio Segment [Member] | ||
Accruing loans not past due | 18,865 | 14,458 |
Nonaccrual | 122 | 82 |
Loans | 19,105 | 14,639 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accruing loans past due | 66 | 84 |
Nonaccrual | ||
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accruing loans past due | 52 | 15 |
Nonaccrual | ||
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accruing loans past due | ||
Nonaccrual | $ 122 | $ 82 |
Note 4 - Loans Receivable and_9
Note 4 - Loans Receivable and Related Allowance for Loan Losses - Nonaccrual Loans by Aging Category (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Nonaccrual | $ 2,586 | $ 2,587 |
Residential Portfolio Segment [Member] | ||
Nonaccrual | 808 | 955 |
Home Equity Loans and Lines of Credit [Member] | ||
Nonaccrual | 351 | 428 |
Commercial Real Estate Portfolio Segment [Member] | ||
Nonaccrual | 1,042 | 907 |
Commercial Portfolio Segment [Member] | ||
Nonaccrual | 263 | 215 |
Consumer Portfolio Segment [Member] | ||
Nonaccrual | 122 | 82 |
Not Past Due [Member] | ||
Nonaccrual | 376 | 277 |
Not Past Due [Member] | Residential Portfolio Segment [Member] | ||
Nonaccrual | 239 | 245 |
Not Past Due [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Nonaccrual | 3 | 4 |
Not Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Nonaccrual | 134 | 28 |
Not Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Nonaccrual | ||
Not Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Nonaccrual | ||
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Nonaccrual | 291 | 309 |
Financial Asset, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Nonaccrual | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Nonaccrual | ||
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Nonaccrual | 250 | 309 |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Nonaccrual | 41 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Nonaccrual | ||
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Nonaccrual | 230 | 278 |
Financial Asset, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Nonaccrual | 71 | 72 |
Financial Asset, 60 to 89 Days Past Due [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Nonaccrual | ||
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Nonaccrual | 159 | 31 |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Nonaccrual | 175 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Nonaccrual | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Nonaccrual | 1,689 | 1,723 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Nonaccrual | 498 | 638 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Nonaccrual | 348 | 424 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Nonaccrual | 499 | 539 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Nonaccrual | 222 | 40 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Nonaccrual | $ 122 | $ 82 |
Note 5 - Goodwill and Intangi_3
Note 5 - Goodwill and Intangible Assets (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | |
Business Acquisition Number of Acquisitions Resulting in Goodwill | 5 | ||
Goodwill, Impairment Loss | $ 0 | $ 0 | |
Amortization of Intangible Assets, Total | $ 42,000 | $ 46,000 |
Note 5 - Goodwill and Intangi_4
Note 5 - Goodwill and Intangible Assets - Acquired Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Goodwill | $ 19,460 | $ 19,460 |
Core deposit intangibles, gross carring amount | 5,634 | 5,634 |
Core deposit intangibles, accumulated amortization | 4,429 | 4,387 |
Total, gross carring amount | $ 25,094 | $ 25,094 |
Note 6 - Stock Compensation P_3
Note 6 - Stock Compensation Plan (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Apr. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 176,866 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | ||
Share-based Payment Arrangement, Expense | $ 112,000 | $ 90,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 839,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 19,833 | ||
Share-based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 88,433 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 10 years |
Note 6 - Stock Compensation P_4
Note 6 - Stock Compensation Plan - Summary of Nonvested Restricted Stock Awards (Details) - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Nonvested (in shares) | shares | 44,450 |
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 31.11 |
Granted (in shares) | shares | |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | |
Vested (in shares) | shares | |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | |
Forfeited (in shares) | shares | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | |
Nonvested (in shares) | shares | 44,450 |
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 31.11 |
Note 7 - Fair Value (Details Te
Note 7 - Fair Value (Details Textual) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | $ 270,000 | $ 141,000 | $ 76,000 |
Impaired Financing Receivable, Related Allowance | 26,000 | 70,000 | 5,000 |
Provision for Loan and Lease Losses, Total | $ 792,000 | 180,000 | |
Measurement Input, Discount Rate [Member] | |||
Other Real Estate Owned, Measurement Input | 0.1 | ||
Fair Value, Nonrecurring [Member] | |||
Provision for Loan and Lease Losses, Total | $ 0 | 21,000 | |
Other Real Estate, Ending Balance | 0 | 88,000 | |
Other Real Estate, Gross Amount | 91,000 | ||
Other Real Estate, Disposals | 3,000 | ||
Impaired Loans [Member] | |||
Provision for Loan and Lease Losses, Total | 24,000 | 63,000 | |
Real Estate Loan [Member] | |||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 70,000 | 67,000 | |
Home Equity Loan [Member] | |||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 4,000 | 4,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 150,000 | ||
Impaired Financing Receivable, Related Allowance | 19,000 | ||
Provision for Loan and Lease Losses, Total | 606,000 | (73,000) | |
Commercial Portfolio Segment [Member] | |||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 45,000 | 63,000 | |
Impaired Financing Receivable, Related Allowance | 5,000 | 63,000 | |
Provision for Loan and Lease Losses, Total | 45,000 | $ 206,000 | |
Collateral Pledged [Member] | |||
Impaired Financing Receivable, with Related Allowance, Fair Value | $ 0 | ||
Collateral Pledged [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Impaired Financing Receivable, with Related Allowance, Fair Value | 131,000 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 150,000 | ||
Impaired Financing Receivable, Related Allowance | 19,000 | ||
Collateral Pledged [Member] | Commercial Portfolio Segment [Member] | |||
Impaired Financing Receivable, with Related Allowance, Fair Value | 40,000 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 45,000 | ||
Impaired Financing Receivable, Related Allowance | $ 5,000 |
Note 7 - Fair Value - Assets Me
Note 7 - Fair Value - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Securities - available-for-sale | $ 114,419,000 | $ 120,107,000 |
Securities - equity investments | 9,000 | 19,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities - available-for-sale | ||
Securities - equity investments | 9,000 | 19,000 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities - available-for-sale | 110,397,000 | 116,085,000 |
Securities - equity investments | ||
Fair Value, Inputs, Level 3 [Member] | ||
Securities - available-for-sale | 4,022,000 | 4,022,000 |
Securities - equity investments | ||
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities - available-for-sale | 1,027,000 | 7,077,000 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities - available-for-sale | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities - available-for-sale | 1,027,000 | 7,077,000 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities - available-for-sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities - available-for-sale | 41,057,000 | 41,075,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities - available-for-sale | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities - available-for-sale | 41,057,000 | 41,075,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities - available-for-sale | ||
Collateralized Mortgage Obligations [Member] | ||
Securities - available-for-sale | 31,773,000 | 32,837,000 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities - available-for-sale | ||
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities - available-for-sale | 31,773,000 | 32,837,000 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities - available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | ||
Securities - available-for-sale | 28,367,000 | 27,796,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities - available-for-sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities - available-for-sale | 28,367,000 | 27,796,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities - available-for-sale | ||
Corporate Debt Securities [Member] | ||
Securities - available-for-sale | 12,195,000 | 11,322,000 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities - available-for-sale | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities - available-for-sale | 8,173,000 | 7,300,000 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities - available-for-sale | $ 4,022,000 | $ 4,022,000 |
Note 7 - Fair Value - Changes i
Note 7 - Fair Value - Changes in Level 3 Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Balance at the beginning of the period | $ 4,022 | $ 3,500 |
Included in earnings | ||
Included in other comprehensive income | ||
Transfers in and/or out of Level 3 | ||
Balance at the end of the period | $ 4,022 | $ 3,500 |
Note 7 - Fair Value - Assets _2
Note 7 - Fair Value - Assets Measured at Fair Value on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Total | $ 171,000 | $ 88,000 |
Other real estate owned | 0 | 88,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Total | ||
Other real estate owned | ||
Fair Value, Inputs, Level 2 [Member] | ||
Total | ||
Other real estate owned | ||
Fair Value, Inputs, Level 3 [Member] | ||
Total | 171,000 | 88,000 |
Other real estate owned | $ 88,000 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired loans | 131,000 | |
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 131,000 | |
Commercial Portfolio Segment [Member] | ||
Impaired loans | 40,000 | |
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | $ 40,000 |
Note 7 - Fair Value - Schedule
Note 7 - Fair Value - Schedule of Quantitative Information About Level 3 Fair Value Measurements (Details) | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Measurement Input, Discount Rate [Member] | ||
Other real estate owned, measurement input | 0.1 | |
Fair Value, Nonrecurring [Member] | ||
Other real estate owned | $ 0 | $ 88,000 |
Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Impaired loans | 131,000 | |
Fair Value, Nonrecurring [Member] | Commercial Portfolio Segment [Member] | ||
Impaired loans | 40,000 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other real estate owned | $ 88,000 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Comparability Adjustment [Member] | ||
Other real estate owned, measurement input | 0.1 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Impaired loans | $ 131,000 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Measurement Input, Discount Rate [Member] | ||
Impaired loans, measurement input (Pure) | 0.1 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | ||
Impaired loans | $ 40,000 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | Measurement Input, Comparability Adjustment [Member] | Minimum [Member] | ||
Impaired loans, measurement input (Pure) | 0.1 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | Measurement Input, Comparability Adjustment [Member] | Maximum [Member] | ||
Impaired loans, measurement input (Pure) | 1 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | Measurement Input, Comparability Adjustment [Member] | Weighted Average [Member] | ||
Impaired loans, measurement input (Pure) | 0.185 |
Note 7 - Fair Value - Carrying
Note 7 - Fair Value - Carrying Amount and Fair Value of Financial Instruments Included in the Consolidated Balance Sheet (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Debt securities, fair value | $ 114,419,000 | $ 120,107,000 |
Securities - equities | 9,000 | 19,000 |
Federal bank stock | 6,866,000 | 5,790,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Debt securities, fair value | ||
Securities - equities | 9,000 | 19,000 |
Fair Value, Inputs, Level 2 [Member] | ||
Debt securities, fair value | 110,397,000 | 116,085,000 |
Securities - equities | ||
Fair Value, Inputs, Level 3 [Member] | ||
Debt securities, fair value | 4,022,000 | 4,022,000 |
Securities - equities | ||
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 10,089,000 | 14,986,000 |
Interest earning time deposits | 8,948,000 | 9,698,000 |
Debt securities, fair value | 114,419,000 | 120,107,000 |
Securities - equities | 9,000 | 19,000 |
Loans, net | 734,730,000 | 695,348,000 |
Federal bank stock | 6,866,000 | 5,790,000 |
Accrued interest receivable | 2,861,000 | 2,600,000 |
Total | 877,922,000 | 848,548,000 |
Deposits | 782,716,000 | 787,124,000 |
Borrowed funds | 60,550,000 | 28,550,000 |
Accrued interest payable | 661,000 | 616,000 |
Total | 843,927,000 | 816,290,000 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 10,089,000 | 14,986,000 |
Interest earning time deposits | 8,948,000 | 9,698,000 |
Debt securities, fair value | 114,419,000 | 120,107,000 |
Securities - equities | 9,000 | 19,000 |
Loans, net | 730,472,000 | 697,990,000 |
Federal bank stock | ||
Accrued interest receivable | 2,861,000 | 2,600,000 |
Total | 866,798,000 | 845,400,000 |
Deposits | 788,806,000 | 793,999,000 |
Borrowed funds | 52,678,000 | 29,133,000 |
Accrued interest payable | 661,000 | 616,000 |
Total | 842,145,000 | 823,748,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 10,089,000 | 14,986,000 |
Interest earning time deposits | ||
Debt securities, fair value | ||
Securities - equities | 9,000 | 19,000 |
Loans, net | ||
Federal bank stock | ||
Accrued interest receivable | 114,000 | 78,000 |
Total | 10,212,000 | 15,083,000 |
Deposits | 570,399,000 | 569,357,000 |
Borrowed funds | ||
Accrued interest payable | 57,000 | 51,000 |
Total | 570,456,000 | 569,408,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Interest earning time deposits | 8,948,000 | 9,698,000 |
Debt securities, fair value | 110,397,000 | 116,085,000 |
Securities - equities | ||
Loans, net | ||
Accrued interest receivable | 476,000 | 419,000 |
Total | 119,821,000 | 126,202,000 |
Deposits | 218,407,000 | 224,642,000 |
Borrowed funds | 52,678,000 | 29,133,000 |
Accrued interest payable | 604,000 | 565,000 |
Total | 271,689,000 | 254,340,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Interest earning time deposits | ||
Debt securities, fair value | 4,022,000 | 4,022,000 |
Securities - equities | ||
Loans, net | 730,472,000 | 697,990,000 |
Federal bank stock | ||
Accrued interest receivable | 2,271,000 | 2,103,000 |
Total | 736,765,000 | 704,115,000 |
Deposits | ||
Borrowed funds | ||
Accrued interest payable | ||
Total |
Note 8 - Regulatory Matters (De
Note 8 - Regulatory Matters (Details Textual) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2015 |
Capital Conservation Buffer | 2.50% | 1.875% | 0.00% |
Note 8 - Regulatory Matters - S
Note 8 - Regulatory Matters - Schedule of Regulatory Capital (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Total capital to risk-weighted assets, actual, amount | $ 81,321 | $ 80,418 |
Total capital to risk-weighted assets, actual, ratio | 0.1299 | 0.1374 |
Total capital to risk-weighted assets, for capital adequacy purposes, amount | $ 50,073 | $ 46,836 |
Total capital to risk-weighted assets, for capital adequacy purposes, ratio | 0.08 | 0.08 |
Total capital to risk-weighted assets, to be well capitalized, amount | $ 62,592 | $ 58,544 |
Total capital to risk-weighted assets, to be well capitalized, ratio | 0.1 | 0.1 |
Tier 1 capital to risk-weighted assets, actual, amount | $ 74,101 | $ 73,862 |
Tier 1 capital to risk-weighted assets, actual, ratio | 0.1184 | 0.1262 |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes, amount | $ 37,555 | $ 35,127 |
Tier 1 capital to risk-weighted assets, for capital adequacy purposes, ratio | 0.06 | 0.06 |
Tier 1 capital to risk-weighted assets, to be well capitalized, amount | $ 50,073 | $ 46,836 |
Tier 1 capital to risk-weighted assets, to be well capitalized, ratio | 0.08 | 0.08 |
Common equity tier 1 capital to risk-weighted assets, actual, amount | $ 74,101 | $ 73,862 |
Common equity tier 1 capital to risk weighted assets, actual, ratio | 0.1184 | 0.1262 |
Common equity tier 1 capital to risk-weighted assets, for capital adequacy purposes, amount | $ 28,166 | $ 26,345 |
Common equity tier 1 capital to risk weighted assets, for capital adequacy purposes, ratio | 4.50% | 4.50% |
Common equity tier 1 capital to risk-weighted assets, to. be well capitalized, amount | $ 40,685 | $ 38,054 |
Common equity tier 1 capital to risk weighted assets, to be well capitalized, ratio | 6.50% | 6.50% |
Tier 1 capital to average assets, actual, amount | $ 74,101 | $ 73,862 |
Tier 1 capital to average asset, actual, ratio | 0.081 | 0.0817 |
Tier 1 capital to average assets, for capital adequacy purposes, amount | $ 36,608 | $ 36,146 |
Tier 1 capital to average asset, for capital adequacy purposes, ratio | 0.04 | 0.04 |
Tier 1 capital to average assets, to be well capitalized, amount | $ 45,761 | $ 45,182 |
Tier 1 capital to average asset, to be well capitalized, ratio | 0.05 | 0.05 |
Note 9 - Accumulated Other Co_3
Note 9 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Balance | $ 85,858 | $ 80,008 |
Net current period other comprehensive income (loss) | 1,197 | 873 |
Balance | 87,545 | 84,257 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||
Balance | (108) | (1,517) |
Other comprehensive income before reclassification | 1,259 | 875 |
Amounts reclassified from accumulated other comprehensive income (loss) | (62) | (2) |
Net current period other comprehensive income (loss) | 1,197 | 873 |
Balance | 1,089 | (644) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance | (5,227) | (4,840) |
Other comprehensive income before reclassification | ||
Amounts reclassified from accumulated other comprehensive income (loss) | ||
Net current period other comprehensive income (loss) | ||
Balance | (5,227) | (4,840) |
AOCI Attributable to Parent [Member] | ||
Balance | (5,335) | (6,357) |
Other comprehensive income before reclassification | 1,259 | 875 |
Amounts reclassified from accumulated other comprehensive income (loss) | (62) | (2) |
Net current period other comprehensive income (loss) | 1,197 | 873 |
Balance | $ (4,138) | $ (5,484) |
Note 9 - Accumulated Other Co_4
Note 9 - Accumulated Other Comprehensive Income (Loss) - Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Provision for income taxes | $ 243 | $ 456 |
Total reclassifications for the period | 1,190 | 2,082 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Provision for income taxes | 16 | |
Total reclassifications for the period | (62) | (2) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||
Unrealized gains and losses on available-for-sale securities | $ (78) | $ (2) |
Note 10 - Revenue Recognition -
Note 10 - Revenue Recognition - Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Noninterest income (in-scope of Topic 606) | $ 783 | $ 879 | |
Noninterest income (out-of-scope of Topic 606) (2) | [1] | 242 | 178 |
Total noninterest income | 1,025 | 1,057 | |
Maintenance Fees [Member] | |||
Noninterest income (in-scope of Topic 606) | 53 | 40 | |
Overdraft Fees [Member] | |||
Noninterest income (in-scope of Topic 606) | 328 | 438 | |
Other Fees [Member] | |||
Noninterest income (in-scope of Topic 606) | 70 | 77 | |
Electronic Banking Fees [Member] | |||
Noninterest income (in-scope of Topic 606) | [2] | $ 332 | $ 324 |
[1] | Noninterest income items that are out-of-scope include net realized gains (losses) on sales of securities, net gains (losses) on sales of loans, earnings on bank-owned life insurance and certain other noninterest income items. | ||
[2] | Included in other noninterest income on the consolidated statement of income. |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 12 years 306 days | 13 years 164 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.49% | 3.47% |
Operating Lease, Cost | $ 48,000 | $ 49,000 |
Premises and Equipment [Member] | ||
Operating Lease, Right-of-Use Asset | 1,500,000 | 1,600,000 |
Other Liabilities [Member] | ||
Operating Lease, Liability, Total | $ 1,669,000 | $ 1,800,000 |
Note 11 - Leases - Estimated Re
Note 11 - Leases - Estimated Rental Commitments for Operating Leases (Details) - USD ($) | Mar. 31, 2020 | Mar. 31, 2019 |
2020 (excluding three months) | $ 159,000 | |
2021 | 217,000 | |
2022 | 222,000 | |
2023 | 222,000 | |
2024 | 227,000 | |
Thereafter | 1,063,000 | |
Total minimum lease payments | 2,110,000 | |
Discount effect of cash flows | (441,000) | |
Other Liabilities [Member] | ||
Present value of lease liabilities | $ 1,669,000 | $ 1,800,000 |