Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 27, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | FIRST COMMUNITY BANCSHARES INC /NV/ | |
Entity Central Index Key | 859,070 | |
Trading Symbol | fcbc | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 16,987,339 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Assets | |||
Cash and due from banks | $ 37,050 | $ 36,645 | [1] |
Federal funds sold | 67,124 | 38,717 | [1] |
Interest-bearing deposits in banks | 945 | 945 | [1] |
Total cash and cash equivalents | 105,119 | 76,307 | [1] |
Securities available for sale | 174,424 | 165,579 | [1] |
Securities held to maturity | 25,182 | 47,133 | [1] |
Loans held for investment, net of unearned income | |||
Non-covered | 1,806,434 | 1,795,954 | [1] |
Covered | 31,287 | 56,994 | |
Less: allowance for loan losses | (19,206) | (17,948) | [1] |
Loans held for investment, net | 1,818,515 | 1,835,000 | [1] |
FDIC indemnification asset | 7,465 | 12,173 | [1] |
Premises and equipment, net | 48,949 | 50,085 | [1] |
Other real estate owned, non-covered | 3,543 | 5,109 | [1] |
Other real estate owned, covered | 54 | 276 | [1] |
Interest receivable | 5,156 | 5,553 | [1] |
Goodwill | 95,779 | 95,779 | [1] |
Other intangible assets | 6,417 | 7,207 | [1] |
Other assets | 84,177 | 86,197 | [1] |
Total assets | 2,374,780 | 2,386,398 | [1] |
Liabilities | |||
Noninterest-bearing | 452,940 | 427,705 | [1] |
Interest-bearing | 1,410,880 | 1,413,633 | [1] |
Total deposits | 1,863,820 | 1,841,338 | [1] |
Securities sold under agreements to repurchase | 83,783 | 98,005 | [1] |
FHLB borrowings | 50,000 | 65,000 | [1] |
Other borrowings | 15,708 | [1] | |
Interest, taxes, and other liabilities | 24,540 | 27,290 | [1] |
Total liabilities | 2,022,143 | 2,047,341 | [1] |
Stockholders' equity | |||
Preferred stock, undesignated par value; 1,000,000 shares authorized; Series A Noncumulative Convertible Preferred Stock, $0.01 par value; 25,000 shares authorized; none outstanding | [1] | ||
Common stock, $1 par value; 50,000,000 shares authorized; 21,381,779 shares issued at September 30, 2017, and December 31, 2016; 4,395,277 and 4,387,571 shares in treasury at September 30, 2017, and December 31, 2016, respectively | 21,382 | 21,382 | [1] |
Additional paid-in capital | 228,510 | 228,142 | [1] |
Retained earnings | 182,145 | 170,377 | [1] |
Treasury stock, at cost | (79,333) | (78,833) | [1] |
Accumulated other comprehensive loss | (67) | (2,011) | [1] |
Total stockholders' equity | 352,637 | 339,057 | [1] |
Total liabilities and stockholders' equity | $ 2,374,780 | $ 2,386,398 | [1] |
[1] | Derived from audited financial statements |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 21,381,779 | 21,381,779 |
Treasury stock, shares (in shares) | 4,395,277 | 4,387,571 |
Undesignated Par Value [Member] | ||
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Designated Par Value [Member] | ||
Preferred stock, shares authorized (in shares) | 25,000 | 25,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest income | ||||
Interest and fees on loans | $ 22,694 | $ 21,952 | $ 67,435 | $ 65,762 |
Interest on securities -- taxable | 341 | 738 | 1,157 | 2,729 |
Interest on securities -- tax-exempt | 739 | 905 | 2,299 | 2,762 |
Interest on deposits in banks | 275 | 26 | 655 | 55 |
Total interest income | 24,049 | 23,621 | 71,546 | 71,308 |
Interest expense | ||||
Interest on deposits | 1,275 | 1,133 | 3,674 | 3,334 |
Interest on short-term borrowings | 213 | 548 | 634 | 1,613 |
Interest on long-term debt | 511 | 819 | 1,753 | 2,438 |
Total interest expense | 1,999 | 2,500 | 6,061 | 7,385 |
Net interest income | 22,050 | 21,121 | 65,485 | 63,923 |
Provision for (recovery of) loan losses | 730 | (1,154) | 2,156 | 755 |
Net interest income after provision for loan losses | 21,320 | 22,275 | 63,329 | 63,168 |
Noninterest income | ||||
Wealth management | 758 | 653 | 2,339 | 2,147 |
Service charges on deposits | 3,605 | 3,494 | 10,078 | 10,146 |
Other service charges and fees | 2,141 | 2,024 | 6,387 | 6,088 |
Insurance commissions | 306 | 1,592 | 1,004 | 5,383 |
Impairment losses on securities | (4,635) | (4,646) | ||
Portion of loss recognized in other comprehensive income | ||||
Net impairment losses recognized in earnings | (4,635) | (4,646) | ||
Net loss on sale of securities | 25 | (657) | (53) | |
Net FDIC indemnification asset amortization | (268) | (1,369) | (3,186) | (3,856) |
Net gain on divestitures | 3,065 | 3,065 | ||
Other operating income | 593 | 1,046 | 2,336 | 2,554 |
Total noninterest income | 7,135 | 5,895 | 18,301 | 20,828 |
Noninterest expense | ||||
Salaries and employee benefits | 9,137 | 9,828 | 27,178 | 30,501 |
Occupancy expense | 1,082 | 1,249 | 3,671 | 4,139 |
Furniture and equipment expense | 1,133 | 1,066 | 3,311 | 3,271 |
Amortization of intangibles | 266 | 316 | 790 | 871 |
FDIC premiums and assessments | 227 | 363 | 698 | 1,109 |
Merger, acquisition, and divestiture expense | 226 | 675 | ||
Other operating expense | 5,064 | 5,509 | 15,802 | 15,527 |
Total noninterest expense | 16,909 | 18,557 | 51,450 | 56,093 |
Income before income taxes | 11,546 | 9,613 | 30,180 | 27,903 |
Income tax expense | 3,894 | 3,230 | 9,908 | 9,181 |
Net income | 7,652 | 6,383 | 20,272 | 18,722 |
Dividends on preferred stock | ||||
Net income available to common shareholders | $ 7,652 | $ 6,383 | $ 20,272 | $ 18,722 |
Earnings per common share | ||||
Basic (in dollars per share) | $ 0.45 | $ 0.37 | $ 1.19 | $ 1.07 |
Diluted (in dollars per share) | 0.45 | 0.37 | 1.19 | 1.07 |
Cash dividends per common share (in dollars per share) | $ 0.18 | $ 0.16 | $ 0.50 | $ 0.44 |
Weighted average shares outstanding | ||||
Basic (in shares) | 17,005,654 | 17,031,074 | 17,005,350 | 17,433,406 |
Diluted (in shares) | 17,082,729 | 17,083,526 | 17,076,958 | 17,475,211 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 7,652 | $ 6,383 | $ 20,272 | $ 18,722 |
Other comprehensive income, before tax | ||||
Change in net unrealized (losses) gains on securities without other-than-temporary impairment | (169) | 744 | 2,127 | 4,141 |
Reclassification adjustment for net losses recognized in net income | (25) | 657 | 53 | |
Reclassification adjustment for other-than-temporary impairment losses recognized in net income | 4,635 | 4,646 | ||
Net unrealized (losses) gains on available-for-sale securities | (169) | 5,354 | 2,784 | 8,840 |
Net actuarial (loss) gain | (1) | (2) | 133 | (56) |
Reclassification adjustment for amortization of prior service cost and net actuarial loss recognized in net income | 65 | 69 | 194 | 205 |
Net unrealized gains on employee benefit plans | 64 | 67 | 327 | 149 |
Other comprehensive (loss) income, before tax | (105) | 5,421 | 3,111 | 8,989 |
Income tax (benefit) expense | (39) | 2,034 | 1,167 | 3,372 |
Other comprehensive income (loss), net | (66) | 3,387 | 1,944 | 5,617 |
Total comprehensive income | $ 7,586 | $ 9,770 | $ 22,216 | $ 24,339 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Total | |
Beginning balance at Dec. 31, 2015 | $ 21,382 | $ 227,692 | $ 155,647 | $ (56,457) | $ (5,247) | $ 343,017 | ||
Net income | 18,722 | 18,722 | ||||||
Other comprehensive income | 5,617 | 5,617 | ||||||
Common dividends declared | (7,680) | (7,680) | ||||||
Equity-based compensation expense | 144 | 144 | ||||||
Common stock options exercised | (23) | 205 | 182 | |||||
Restricted stock awards | 26 | 270 | 296 | |||||
Issuance of treasury stock to 401(k) plan | 45 | 287 | 332 | |||||
Purchase of treasury shares | (23,094) | (23,094) | ||||||
Ending balance at Sep. 30, 2016 | 21,382 | 227,884 | 166,689 | (78,789) | 370 | 337,536 | ||
Beginning balance at Jun. 30, 2016 | (3,017) | |||||||
Net income | 6,383 | |||||||
Other comprehensive income | 3,387 | 3,387 | ||||||
Ending balance at Sep. 30, 2016 | 21,382 | 227,884 | 166,689 | (78,789) | 370 | 337,536 | ||
Beginning balance at Dec. 31, 2016 | 21,382 | 228,142 | 170,377 | (78,833) | (2,011) | 339,057 | [1] | |
Net income | 20,272 | 20,272 | ||||||
Other comprehensive income | 1,944 | 1,944 | ||||||
Common dividends declared | (8,504) | (8,504) | ||||||
Equity-based compensation expense | 290 | 290 | ||||||
Common stock options exercised | 6 | 145 | 151 | |||||
Restricted stock awards | (40) | 387 | 347 | |||||
Issuance of treasury stock to 401(k) plan | 112 | 231 | 343 | |||||
Purchase of treasury shares | (1,263) | (1,263) | ||||||
Ending balance at Sep. 30, 2017 | 21,382 | 228,510 | 182,145 | (79,333) | (67) | 352,637 | ||
Beginning balance at Jun. 30, 2017 | (1) | |||||||
Net income | 7,652 | |||||||
Other comprehensive income | (66) | (66) | ||||||
Ending balance at Sep. 30, 2017 | $ 21,382 | $ 228,510 | $ 182,145 | $ (79,333) | $ (67) | $ 352,637 | ||
[1] | Derived from audited financial statements |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Retained Earnings [Member] | ||
Common dividends declared, per share (in dollars per share) | $ 0.50 | $ 0.44 |
Additional Paid-in Capital [Member] | ||
Common stock options exercised, shares (in shares) | 8,036 | 11,730 |
Restricted stock awards, shares (in shares) | 21,542 | 15,587 |
Treasury Stock [Member] | ||
Issuance of treasury stock to 401(k) plan, shares (in shares) | 12,834 | 16,290 |
Purchase of treasury shares, shares (in shares) | 50,118 | 1,152,776 |
Purchase of treasury shares, per share (in dollars per share) | $ 25.16 | $ 20 |
Common dividends declared, per share (in dollars per share) | $ 0.50 | $ 0.44 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | ||
Operating activities | |||
Net income | $ 20,272 | $ 18,722 | |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Provision for loan losses | 2,156 | 755 | |
Depreciation and amortization of property, plant, and equipment | 2,688 | 2,707 | |
Amortization of premiums on investments, net | 63 | 2,758 | |
Amortization of FDIC indemnification asset, net | 3,186 | 3,856 | |
Amortization of intangibles | 790 | 871 | |
Accretion on acquired loans | (4,257) | (3,893) | |
Gain on divestiture, net | (3,065) | ||
Equity-based compensation expense | 290 | 144 | |
Restricted stock awards | 347 | 296 | |
Issuance of treasury stock to 401(k) plan | 343 | 332 | |
Loss on sale of property, plant, and equipment, net | 13 | 271 | |
Loss on sale of other real estate | 940 | 1,487 | |
Loss on sale of securities | 657 | 53 | |
Net impairment losses recognized in earnings | 4,646 | ||
Decrease in accrued interest receivable | 397 | 509 | |
(Increase) decrease in other operating activities | (2,008) | 4,341 | |
Net cash provided by operating activities | 25,877 | 34,790 | |
Investing activities | |||
Proceeds from sale of securities available for sale | 12,273 | 70,530 | |
Proceeds from maturities, prepayments, and calls of securities available for sale | 18,022 | 77,395 | |
Proceeds from maturities and calls of securities held to maturity | 21,840 | 190 | |
Payments to acquire securities available for sale | (36,966) | (1,174) | |
Proceeds from (originations of) loans, net | 17,304 | (138,984) | |
Proceeds from (payments for) FHLB stock, net | 694 | (933) | |
Cash proceeds from mergers, acquisitions, and divestitures, net | 24,816 | ||
Proceeds from the FDIC | 1,701 | 3,639 | |
Payments to acquire property, plant, and equipment, net | (1,999) | (448) | |
Proceeds from sale of other real estate | 2,130 | 4,541 | |
Net cash provided by investing activities | 34,999 | 39,572 | |
Financing activities | |||
Increase in noninterest-bearing deposits, net | 25,235 | 28,322 | |
Decrease in interest-bearing deposits, net | (2,753) | (62,819) | |
Repayments of securities sold under agreements to repurchase, net | (14,222) | (20,082) | |
(Repayments of) proceeds from FHLB and other borrowings, net | (30,708) | 24,951 | |
Proceeds from stock options exercised | 151 | 182 | |
Payments for repurchase of treasury stock | (1,263) | (23,094) | |
Payments of common dividends | (8,504) | (7,680) | |
Net cash used in financing activities | (32,064) | (60,220) | |
Net increase in cash and cash equivalents | 28,812 | 14,142 | |
Cash and cash equivalents at beginning of period | 76,307 | [1] | 51,787 |
Cash and cash equivalents at end of period | 105,119 | 65,929 | |
Supplemental disclosure -- cash flow information | |||
Cash paid for interest | 6,257 | 7,394 | |
Cash paid for income taxes | 12,942 | 6,488 | |
Supplemental transactions -- noncash items | |||
Transfer of loans to other real estate | 1,282 | 3,652 | |
Loans originated to finance other real estate | $ 42 | ||
[1] | Derived from audited financial statements |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 1. Basis of Presentation General First Community Bancshares, Inc. (the “Company”), a financial holding company, was founded in 1989 1997. ’s principal executive office is located at One Community Place, Bluefield, Virginia. The Company provides banking products and services to individual and commercial customers through its wholly owned subsidiary First Community Bank (the “Bank”), a Virginia-chartered banking institution founded in 1874. Principles of Consolidation The Company ’s accounting and reporting policies conform with U.S. generally accepted accounting principles (“GAAP”) and prevailing practices in the banking industry. The consolidated financial statements include all accounts of the Company and its wholly owned subsidiaries and eliminate all intercompany balances and transactions. The Company operates in one not may The condensed consolidated balance sheet as of December 31, 2016, 10 December 31, 2016 ( “2016 10 March 3, 2017. Reclassifications Certain amounts reported in prior years have been reclassified to conform to the current year ’s presentation. These reclassifications had no Use of Estimates Preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that require the most subjective or complex judgments relate to fair value measurements, investment securities, the allowance for loan losses, the Federal Deposit Insurance Corporation (“FDIC”) indemnification asset, goodwill and other intangible assets, and income taxes. A discussion of the Company’s application of critical accounting estimates is included in “Critical Accounting Estimates” in Item 2 Significant Accounting Policies A complete and detailed description of the Company ’s significant accounting policies is included in Note 1, 8 2016 10 Recent Accounting Standards Standards Adopted In January 2017, 2017 04, 350 ’s carrying value exceeds its fair value, not 2017 04 December 15, 2019, 2017 04 first 2017. not In January 2017, 2017 03, 250 – Equity Method and Joint Ventures (Topic 323 September 22, 2016 November 17, 2016 2017 03 first 2017. Not In March 2016, 2016 09, 718 The guidance eliminates additional paid-in capital pools for equity-based awards and requires that the related income tax effects of awards be recognized in the income statement. The guidance also allows an employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting and to make a policy election to account for forfeitures as they occur. The Company adopted ASU 2016 09 first 2017 not not Standards Not In August 2017, issued ASU 2017 12, 815 2017 12 December 15, 2018. 2017 12 first 2019. not In May 2017, 2017 09, 718 2017 09 December 15, 2017. 2017 09 first 2018. not In March 2017, 2017 08, 310 20 2017 08 December 15, 2018. 2017 08 first 2019. not In March 2017, 2017 07, 715 2017 07 December 15, 2017. 2017 07 first 2018. not In November 2016, 2016 18, 230 s the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016 18 December 15, 2017. 2016 18 first 2018. not In August 2016, 2016 15, 230 eight 2016 15 s beginning after December 15, 2017, 2016 15 first 2018. not In June 2016, 2016 13, 326 ’s portfolio. In addition, the update amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016 13 December 15, 2019, December 15, 2018. 2016 13 first 2020 In February 2016, 2016 02, 842 2016 02 s beginning after December 15, 2018, 2016 02 first 2019. not In January 2016, 2016 01, 825 10 Recognition and Measurement of Financial Assets and Financial Liabilities.” This ASU significantly revises an entity’s accounting related to ( 1 2 2016 01 December 15, 2017, 2016 01 first 2018. not In May 2014, 2014 09, ’s core principle is that an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under existing guidance. These may August 2015, 2015 14, 2014 09 December 15, 2017, December 15, 2016. 2014 09 2017 10, 2017 05, 2016 20, 2016 12, 2016 10, 2016 08. 2014 09, first 2018 not The Company does not |
Note 2 - Investment Securities
Note 2 - Investment Securities | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2 . Investment Securities The following tables present the amortized cost and fair value of available-for-sale securities, including gross unrealized gains and losses, as of the dates indicated: September 30, 2017 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Treasury securities $ 36,973 $ - $ (9 ) $ 36,964 U.S. Agency securities 1,254 21 - 1,275 Municipal securities 102,347 2,648 (88 ) 104,907 Single issue trust preferred securities 9,363 - (401 ) 8,962 Mortgage-backed Agency securities 22,518 72 (347 ) 22,243 Equity securities 55 18 - 73 Total securities available for sale $ 172,510 $ 2,759 $ (845 ) $ 174,424 December 31, 2016 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 1,342 $ 3 $ - $ 1,345 Municipal securities 111,659 2,258 (586 ) 113,331 Single issue trust preferred securities 22,104 - (2,165 ) 19,939 Mortgage-backed Agency securities 31,290 66 (465 ) 30,891 Equity securities 55 18 - 73 Total securities available for sale $ 166,450 $ 2,345 $ (3,216 ) $ 165,579 The following tables present the amortized cost and fair value of held-to-maturity securities, including gross unrealized gains and losses, as of the dates indicated: September 30, 2017 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 17,949 $ 31 $ - $ 17,980 Corporate securities 7,233 13 - 7,246 Total securities held to maturity $ 25,182 $ 44 $ - $ 25,226 December 31, 2016 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 36,741 $ 124 $ - $ 36,865 Corporate securities 10,392 11 (2 ) 10,401 Total securities held to maturity $ 47,133 $ 135 $ (2 ) $ 47,266 T he following table presents the amortized cost and aggregate fair value of available-for-sale securities and held-to-maturity securities, by contractual maturity, as of the date indicated. Actual maturities could differ from contractual maturities because issuers may September 30, 2017 Amortized (Amounts in thousands) Cost Fair Value Available-for-sale securities Due within one year $ 37,288 $ 37,279 Due after one year but within five years 5,617 5,734 Due after five years but within ten years 96,693 98,602 Due after ten years 10,339 10,493 149,937 152,108 Mortgage-backed securities 22,518 22,243 Equity securities 55 73 Total securities available for sale $ 172,510 $ 174,424 Held-to-maturity securities Due within one year $ - $ - Due after one year but within five years 25,182 25,226 Due after five years but within ten years - - Due after ten years - - Total securities held to maturity $ 25,182 $ 25,226 The following tables present the fair values and unrealized losses for available-for-sale securities in a continuous unrealized loss position for less than 12 12 September 30, 2017 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Treasury securities $ 36,963 $ (9 ) $ - $ - $ 36,963 $ (9 ) Municipal securities 9,421 (52 ) 1,427 (36 ) 10,848 (88 ) Single issue trust preferred securities - - 8,962 (401 ) 8,962 (401 ) Mortgage-backed Agency securities 7,898 (59 ) 8,281 (288 ) 16,179 (347 ) Total $ 54,282 $ (120 ) $ 18,670 $ (725 ) $ 72,952 $ (845 ) December 31, 2016 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) Municipal securities $ 24,252 $ (527 ) $ 715 $ (59 ) $ 24,967 $ (586 ) Single issue trust preferred securities - - 19,939 (2,165 ) 19,939 (2,165 ) Mortgage-backed Agency securities 12,834 (166 ) 11,851 (299 ) 24,685 (465 ) Total $ 37,086 $ (693 ) $ 32,505 $ (2,523 ) $ 69,591 $ (3,216 ) There were no September 30, 2017. 12 12 December 31, 2016 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) Corporate securities $ 3,533 $ (2 ) $ - $ - $ 3,533 $ (2 ) Total $ 3,533 $ (2 ) $ - $ - $ 3,533 $ (2 ) T here were 45 September 30, 2017, 0.42% 82 December 31, 2016, 1.51% The Company reviews its investment portfolio quarterly for indications of other-than-temporary impairment (“OTTI”). The initial indicator of OTTI for both debt and equity securities is a decline in fair value below book value and the severity and duration of the decline. For debt securities, the credit-related OTTI is recognized as a charge to noninterest income and the noncredit-related OTTI is recognized in other comprehensive income (“OCI”). During the three nine September 30, 2017, no three nine September 30, 2016, $4.64 two three nine September 30, 2017, no three September 30, 2016, no nine September 30, 2016, $11 The following table presents gross realized gains and losses from the sale of available-for-sale securities for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (Amounts in thousands) Gross realized gains $ - $ 203 $ - $ 344 Gross realized losses - (178 ) (657 ) (397 ) Net gain (loss) on sale of securities $ - $ 25 $ (657 ) $ (53 ) The carrying amount of securities pledged for various purposes totaled $99.69 September 30, 2017, $139.75 December 31, 2016. |
Note 3 - Loans
Note 3 - Loans | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 3 . Loans The Company groups loans held for investment into three Federal Deposit Insurance Corporation (“FDIC”) assisted transactions that are covered by loss share agreements. Customer overdrafts reclassified as loans totaled $1.45 September 30, 2017, $1.41 December 31, 2016. $4.48 September 30, 2017, $5.34 December 31, 2016. 14, The following table presents loan s, net of unearned income, with the non-covered portfolio by loan class, as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Amount Percent Amount Percent Non-covered loans held for investment Commercial loans Construction, development, and other land $ 72,952 3.97 % $ 56,948 3.07 % Commercial and industrial 90,184 4.91 % 92,204 4.98 % Multi-family residential 125,997 6.86 % 134,228 7.24 % Single family non-owner occupied 143,213 7.79 % 142,965 7.72 % Non-farm, non-residential 613,380 33.38 % 598,674 32.31 % Agricultural 6,096 0.33 % 6,003 0.32 % Farmland 27,897 1.52 % 31,729 1.71 % Total commercial loans 1,079,719 58.76 % 1,062,751 57.35 % Consumer real estate loans Home equity lines 102,888 5.60 % 106,361 5.74 % Single family owner occupied 501,242 27.27 % 500,891 27.03 % Owner occupied construction 47,034 2.56 % 44,535 2.41 % Total consumer real estate loans 651,164 35.43 % 651,787 35.18 % Consumer and other loans Consumer loans 70,695 3.85 % 77,445 4.18 % Other 4,856 0.26 % 3,971 0.21 % Total consumer and other loans 75,551 4.11 % 81,416 4.39 % Total non-covered loans 1,806,434 98.30 % 1,795,954 96.92 % Total covered loans 31,287 1.70 % 56,994 3.08 % Total loans held for investment, net of unearned income $ 1,837,721 100.00 % $ 1,852,948 100.00 % The following table presents the covered loan portfolio, by loan class, as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Covered loans Commercial loans Construction, development, and other land $ 40 $ 4,570 Commercial and industrial - 895 Multi-family residential - 8 Single family non-owner occupied 292 962 Non-farm, non-residential 10 7,512 Agricultural - 25 Farmland - 397 Total commercial loans 342 14,369 Consumer real estate loans Home equity lines 26,850 35,817 Single family owner occupied 4,095 6,729 Total consumer real estate loans 30,945 42,546 Consumer and other loans Consumer loans - 79 Total covered loans $ 31,287 $ 56,994 The Company identifies certain purchased loans as impaired when fair values are established at acquisition and groups those purchased credit impaired (“PCI”) loans into loan pools with common risk characteristics. The Company estimates cash flows to be collected on PCI loans and discounts those cash flows at a market rate of interest. The following table presents the recorded investment and contractual unpaid principal balance of PCI loans, by acquisition, as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Recorded Investment Unpaid Principal Balance Recorded Investment Unpaid Principal Balance PCI Loans, by acquisition Peoples $ 5,179 $ 8,328 $ 5,576 $ 9,397 Waccamaw 14,903 34,420 21,758 45,030 Other acquired 1,011 1,037 1,095 1,121 Total PCI Loans $ 21,093 $ 43,785 $ 28,429 $ 55,548 The following table presents the changes in the accretable yield on PCI loans, by acquisition, during the periods indicated: Peoples Waccamaw Total (Amounts in thousands) Balance January 1, 2016 $ 3,589 $ 26,109 $ 29,698 Accretion (982 ) (4,408 ) (5,390 ) Reclassifications from nonaccretable difference (1) 231 848 1,079 Other changes, net 1,774 4 1,778 Balance September 30, 2016 $ 4,612 $ 22,553 $ 27,165 Balance January 1, 2017 $ 4,392 $ 21,834 $ 26,226 Accretion (969 ) (4,690 ) (5,659 ) Reclassifications from nonaccretable difference (1) 782 2,525 3,307 Other changes, net (375 ) (311 ) (686 ) Balance September 30, 2017 $ 3,830 $ 19,358 $ 23,188 (1) Represents changes attributable to expected loss assumptions |
Note 4 - Credit Quality
Note 4 - Credit Quality | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | Note 4 . Credit Quality The Company uses a risk grading matrix to assign a risk grade to each loan in its portfolio. Loan risk ratings may ● Pass -- This grade is assigned to loans with acceptable credit quality and risk. The Company further segments this grade based on borrower characteristics that include capital strength, earnings stability, liquidity, leverage, and industry conditions. ● Special Mention -- This grade is assigned to loans that require an above average degree of supervision and attention. These loans have the characteristics of an asset with acceptable credit quality and risk; however, adverse economic or financial conditions exist that create potential weaknesses deserving of management ’s close attention. If potential weaknesses are not may ● Substandard -- This grade is assigned to loans that have well defined weaknesses that may ● Doubtful -- This grade is assigned to loans that have the weaknesses inherent in substandard loans; however, the weaknesses are so severe that collection or liquidation in full is unlikely based on current facts, conditions, and values. Due to certain specific pending factors, the amount of loss cannot yet be determined. ● Loss -- This grade is assigned to loans that will be charged off or charged down when payments, including the timing and value of payments, are uncertain. This risk grade does not no not may The following tables present the recorded investment of the loan portfolio, by loan class and credit quality, as of the dates indicated. Losses on covered loans are generally reimbursable by the FDIC at the applicable loss share percentage, 80%; September 30, 2017 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Non-covered loans Commercial loans Construction, development, and other land $ 69,257 $ 2,791 $ 904 $ - $ - $ 72,952 Commercial and industrial 85,368 1,844 2,972 - - 90,184 Multi-family residential 119,399 5,882 716 - - 125,997 Single family non-owner occupied 132,000 6,839 4,374 - - 143,213 Non-farm, non-residential 593,809 11,126 8,243 202 - 613,380 Agricultural 5,743 235 118 - - 6,096 Farmland 25,097 153 2,647 - - 27,897 Consumer real estate loans Home equity lines 100,375 850 1,663 - - 102,888 Single family owner occupied 471,378 5,705 24,159 - - 501,242 Owner occupied construction 46,802 - 232 - - 47,034 Consumer and other loans Consumer loans 70,459 27 209 - - 70,695 Other 4,856 - - - - 4,856 Total non-covered loans 1,724,543 35,452 46,237 202 - 1,806,434 Covered loans Commercial loans Construction, development, and other land - 39 1 - - 40 Single family non-owner occupied 271 - 21 - - 292 Non-farm, non-residential - - 10 - - 10 Consumer real estate loans Home equity lines 12,242 13,840 768 - - 26,850 Single family owner occupied 3,136 425 534 - - 4,095 Total covered loans 15,649 14,304 1,334 - - 31,287 Total loans $ 1,740,192 $ 49,756 $ 47,571 $ 202 $ - $ 1,837,721 December 31, 2016 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Non-covered loans Commercial loans Construction, development, and other land $ 55,188 $ 980 $ 780 $ - $ - $ 56,948 Commercial and industrial 87,581 3,483 1,137 - 3 92,204 Multi-family residential 126,468 6,992 768 - - 134,228 Single family non-owner occupied 131,934 5,466 5,565 - - 142,965 Non-farm, non-residential 579,134 10,236 9,102 202 - 598,674 Agricultural 5,839 164 - - - 6,003 Farmland 28,887 1,223 1,619 - - 31,729 Consumer real estate loans Home equity lines 104,033 871 1,457 - - 106,361 Single family owner occupied 475,402 4,636 20,381 472 - 500,891 Owner occupied construction 43,833 - 702 - - 44,535 Consumer and other loans Consumer loans 77,218 11 216 - - 77,445 Other 3,971 - - - - 3,971 Total non-covered loans 1,719,488 34,062 41,727 674 3 1,795,954 Covered loans Commercial loans Construction, development, and other land 2,768 803 999 - - 4,570 Commercial and industrial 882 - 13 - - 895 Multi-family residential - - 8 - - 8 Single family non-owner occupied 796 63 103 - - 962 Non-farm, non-residential 6,423 537 552 - - 7,512 Agricultural 25 - - - - 25 Farmland 132 - 265 - - 397 Consumer real estate loans Home equity lines 14,283 20,763 771 - - 35,817 Single family owner occupied 4,601 928 1,200 - - 6,729 Consumer and other loans Consumer loans 79 - - - - 79 Total covered loans 29,989 23,094 3,911 - - 56,994 Total loans $ 1,749,477 $ 57,156 $ 45,638 $ 674 $ 3 $ 1,852,948 The Company identifies loans for potential impairment through a variety of means, including, but not not The following table presents the recorded investment, unpaid principal balance, and related allowance for loan losses for impaired loans, excluding PCI loans, as of the dates indicated: September 30, 2017 December 31, 2016 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (Amounts in thousands) Investment Balance Allowance Investment Balance Allowance Impaired loans with no related allowance Commercial loans Construction, development, and other land $ 662 $ 999 $ - $ 33 $ 35 $ - Commercial and industrial 146 1,093 - 346 383 - Multi-family residential 381 836 - 294 369 - Single family non-owner occupied 2,485 3,891 - 3,084 3,334 - Non-farm, non-residential 3,905 6,239 - 3,829 4,534 - Agricultural 118 122 - - - - Farmland 990 1,037 - 1,161 1,188 - Consumer real estate loans Home equity lines 1,624 1,766 - 913 968 - Single family owner occupied 16,768 18,932 - 11,779 12,630 - Owner occupied construction 233 233 - 573 589 - Consumer and other loans Consumer loans 61 63 - 62 103 - Total impaired loans with no allowance 27,373 35,211 - 22,074 24,133 - Impaired loans with a related allowance Commercial loans Construction, development, and other land - - - - - - Commercial and industrial 2,400 2,400 262 - - - Single family non-owner occupied 771 772 69 351 351 31 Non-farm, non-residential 865 874 325 - - - Farmland 410 418 50 430 430 18 Consumer real estate loans Home equity lines - - - - - - Single family owner occupied 3,771 3,779 754 4,118 4,174 770 Total impaired loans with an allowance 8,217 8,243 1,460 4,899 4,955 819 Total impaired loans (1) $ 35,590 $ 43,454 $ 1,460 $ 26,973 $ 29,088 $ 819 ( 1 Includes loans totaling $20.07 September 30, 2017, $16.89 December 31, 2016, not The following table presents the average recorded investment and interest income recognized on impaired loans, excluding PCI loans, for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Impaired loans with no related allowance: Commercial loans Construction, development, and other land $ 32 $ 907 $ 22 $ 600 $ 32 $ 309 $ 22 $ 447 Commercial and industrial 5 754 6 1,029 8 468 10 738 Multi-family residential - 509 15 562 3 474 15 309 Single family non-owner occupied 11 3,304 91 3,498 88 3,313 107 3,035 Non-farm, non-residential 68 5,244 65 8,930 93 3,766 307 10,186 Agricultural 4 127 - - 4 127 - - Farmland 17 1,003 5 204 17 1,004 9 186 Consumer real estate loans Home equity lines 15 1,683 6 1,157 35 1,259 21 1,318 Single family owner occupied 137 17,478 91 13,175 317 15,209 254 12,436 Owner occupied construction 1 235 2 585 6 234 7 470 Consumer and other loans Consumer loans 1 62 2 63 3 52 2 45 Total impaired loans with no related allowance 291 31,306 305 29,803 606 26,215 754 29,170 Impaired loans with a related allowance: Commercial loans Construction, development, and other land - - - - - 143 - - Commercial and industrial 50 2,516 - - 103 1,727 - - Single family non-owner occupied 8 778 5 682 21 488 18 572 Non-farm, non-residential - 872 45 4,658 15 964 215 5,108 Farmland - 413 - - - 275 - - Consumer real estate loans Home equity lines - - - - - 139 - - Single family owner occupied 24 3,814 24 4,130 92 4,527 91 4,547 Owner occupied construction - - - - - 1 - 115 Total impaired loans with a related allowance 82 8,393 74 9,470 231 8,264 324 10,342 Total impaired loans $ 373 $ 39,699 $ 379 $ 39,273 $ 837 $ 34,479 $ 1,078 $ 39,512 The following tables provide information on impaired PCI loan pools as of and for the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands, except impaired loan pools) Unpaid principal balance $ - $ 1,086 Recorded investment - 1,085 Allowance for loan losses related to PCI loan pools - 12 Impaired PCI loan pools - 1 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Interest income recognized $ - $ 12 $ 20 $ 130 Average recorded investment - 1,139 705 2,195 The Company generally places a loan on nonaccrual status when it is 90 not September 30, 2017 December 31, 2016 (Amounts in thousands) Non-covered Covered Total Non-covered Covered Total Commercial loans Construction, development, and other land $ 126 $ - $ 126 $ 72 $ 32 $ 104 Commercial and industrial 118 - 118 332 13 345 Multi-family residential 330 - 330 294 - 294 Single family non-owner occupied 1,626 20 1,646 1,242 24 1,266 Non-farm, non-residential 3,352 - 3,352 3,295 30 3,325 Agricultural 118 - 118 - - - Farmland 870 - 870 1,591 - 1,591 Consumer real estate loans Home equity lines 828 350 1,178 705 400 1,105 Single family owner occupied 11,517 50 11,567 7,924 109 8,033 Owner occupied construction - - - 336 - 336 Consumer and other loans Consumer loans 57 - 57 63 - 63 Total nonaccrual loans $ 18,942 $ 420 $ 19,362 $ 15,854 $ 608 $ 16,462 The following tables present the aging of past due loans, by loan class, as of the dates indicated. Nonaccrual loans 30 delinquency category. Loans acquired with credit deterioration, with a discount, continue to accrue interest based on expected cash flows; therefore, PCI loans are not no 90 September 30, 2017, December 31, 2016. September 30, 2017 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans Non-covered loans Commercial loans Construction, development, and other land $ 25 $ - $ - $ 25 $ 72,927 $ 72,952 Commercial and industrial 226 36 47 309 89,875 90,184 Multi-family residential 341 185 - 526 125,471 125,997 Single family non-owner occupied 405 186 861 1,452 141,761 143,213 Non-farm, non-residential 523 17 2,623 3,163 610,217 613,380 Agricultural 6 - - 6 6,090 6,096 Farmland 849 410 343 1,602 26,295 27,897 Consumer real estate loans Home equity lines 242 105 298 645 102,243 102,888 Single family owner occupied 3,133 1,414 6,199 10,746 490,496 501,242 Owner occupied construction 330 - - 330 46,704 47,034 Consumer and other loans Consumer loans 360 62 38 460 70,235 70,695 Other - - - - 4,856 4,856 Total non-covered loans 6,440 2,415 10,409 19,264 1,787,170 1,806,434 Covered loans Commercial loans Construction, development, and other land - - - - 40 40 Single family non-owner occupied 72 - - 72 220 292 Non-farm, non-residential - - - - 10 10 Consumer real estate loans Home equity lines 291 - 118 409 26,441 26,850 Single family owner occupied - - 28 28 4,067 4,095 Total covered loans 363 - 146 509 30,778 31,287 Total loans $ 6,803 $ 2,415 $ 10,555 $ 19,773 $ 1,817,948 $ 1,837,721 December 31, 2016 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans Non-covered loans Commercial loans Construction, development, and other land $ 33 $ 5 $ 17 $ 55 $ 56,893 $ 56,948 Commercial and industrial 174 30 149 353 91,851 92,204 Multi-family residential 163 - 281 444 133,784 134,228 Single family non-owner occupied 1,302 159 835 2,296 140,669 142,965 Non-farm, non-residential 1,235 332 2,169 3,736 594,938 598,674 Agricultural - 5 - 5 5,998 6,003 Farmland 224 343 565 1,132 30,597 31,729 Consumer real estate loans Home equity lines 78 136 658 872 105,489 106,361 Single family owner occupied 4,777 2,408 3,311 10,496 490,395 500,891 Owner occupied construction 342 336 - 678 43,857 44,535 Consumer and other loans Consumer loans 371 90 15 476 76,969 77,445 Other - - - - 3,971 3,971 Total non-covered loans 8,699 3,844 8,000 20,543 1,775,411 1,795,954 Covered loans Commercial loans Construction, development, and other land 434 - 32 466 4,104 4,570 Commercial and industrial - - - - 895 895 Multi-family residential - - - - 8 8 Single family non-owner occupied 24 - - 24 938 962 Non-farm, non-residential 32 - - 32 7,480 7,512 Agricultural - - - - 25 25 Farmland - - - - 397 397 Consumer real estate loans Home equity lines 108 146 62 316 35,501 35,817 Single family owner occupied 58 - 39 97 6,632 6,729 Owner occupied construction - - - - - - Consumer and other loans Consumer loans - - - - 79 79 Total covered loans 656 146 133 935 56,059 56,994 Total loans $ 9,355 $ 3,990 $ 8,133 $ 21,478 $ 1,831,470 $ 1,852,948 The Company may $250 $250 troubled debt restructurings (“TDRs”) are classified as nonperforming at the time of restructuring and are returned to performing status after six not No September 30, 2017, December 31, 2016. The following table presents loans modified as TDRs, by loan class and accrual status, as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Nonaccrual (1) Accruing Total Nonaccrual (1) Accruing Total Commercial loans Single family non-owner occupied $ 33 $ 875 $ 908 $ 38 $ 892 $ 930 Non-farm, non-residential - 295 295 - 4,160 4,160 Consumer real estate loans Home equity lines - 148 148 - 158 158 Single family owner occupied 1,484 6,690 8,174 905 7,503 8,408 Owner occupied construction - 234 234 341 239 580 Total TDRs $ 1,517 $ 8,242 $ 9,759 $ 1,284 $ 12,952 $ 14,236 Allowance for loan losses related to TDRs $ 707 $ 670 ( 1 Nonaccrual TDRs are included in total nonaccrual loans disclosed in the nonaccrual table above. The following table presents interest income recognized on TDRs for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Interest income recognized $ 74 $ 143 $ 159 $ 296 The following tables present loans modified as TDRs, by type of concession made and loan class, that were restructured during the periods indicated. The post-modification recorded investment represents the loan balance immediately following modification. Three Months Ended September 30, 2017 2016 (Amounts in thousands) Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment Below market interest rate and extended payment term Single family owner occupied 1 $ 42 $ 42 - $ - $ - Total 1 $ 42 $ 42 - $ - $ - Nine Months Ended September 30, 2017 2016 (Amounts in thousands) Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment Below market interest rate and extended payment term Single family owner occupied 3 $ 141 $ 141 1 $ 115 $ 115 Total 3 $ 141 $ 141 1 $ 115 $ 115 There were no 12 September 30, 2017 2016. The following table provides information about other real estate owned (“OREO”), which consists of properties acquired through foreclosure, as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Non-covered OREO $ 3,543 $ 5,109 Covered OREO 54 276 Total OREO $ 3,597 $ 5,385 Non-covered OREO secured by residential real estate $ 971 $ 1,746 Residential real estate loans in the foreclosure process (1) 10,025 2,539 ( 1 The recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure according to local requirements of the applicable jurisdiction |
Note 5 - Allowance for Loan Los
Note 5 - Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | Note 5 . Allowance for Loan Losses The following tables present the changes in the allowance for loan losses, by loan segment, during the periods indicated: Three Months Ended September 30, 2017 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Allowance, excluding PCI Beginning balance $ 12,283 $ 5,802 $ 793 $ 18,878 Provision for loan losses 358 75 305 738 Charge-offs (207 ) (137 ) (373 ) (717 ) Recoveries 170 67 70 307 Net charge-offs (37 ) (70 ) (303 ) (410 ) Ending balance $ 12,604 $ 5,807 $ 795 $ 19,206 PCI allowance Beginning balance $ - $ 8 $ - $ 8 Recovery of loan losses - (8 ) - (8 ) Benefit attributable to the FDIC - - - - Recovery of loan losses - (8 ) - (8 ) Recovery of loan losses recorded through the - - - - Ending balance $ - $ - $ - $ - Total allowance Beginning balance $ 12,283 $ 5,810 $ 793 $ 18,886 Provision for loan losses 358 67 305 730 Benefit attributable to the FDIC - - - - Provision for loan losses 358 67 305 730 Recovery of loan losses recorded through the - - - - Charge-offs (207 ) (137 ) (373 ) (717 ) Recoveries 170 67 70 307 Net charge-offs (37 ) (70 ) (303 ) (410 ) Ending balance $ 12,604 $ 5,807 $ 795 $ 19,206 Three Months Ended September 30, 2016 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Allowance, excluding PCI Beginning balance $ 13,689 $ 6,625 $ 773 $ 21,087 (Recovery of) provision for loan losses (726 ) (575 ) 147 (1,154 ) Charge-offs (272 ) (207 ) (293 ) (772 ) Recoveries 295 89 76 460 Net recoveries (charge-offs) 23 (118 ) (217 ) (312 ) Ending balance $ 12,986 $ 5,932 $ 703 $ 19,621 PCI allowance Beginning balance $ - $ 12 $ - $ 12 Recovery of loan losses - - - - Benefit attributable to the FDIC - - - - Recovery of loan losses - - - - Recovery of loan losses recorded through the FDIC indemnification asset - - - - Ending balance $ - $ 12 $ - $ 12 Total allowance Beginning balance $ 13,689 $ 6,637 $ 773 $ 21,099 (Recovery of) provision for loan losses (726 ) (575 ) 147 (1,154 ) Benefit attributable to the FDIC - - - - (Recovery of) provision for loan losses (726 ) (575 ) 147 (1,154 ) Recovery of loan losses recorded through the FDIC indemnification asset - - - - Charge-offs (272 ) (207 ) (293 ) (772 ) Recoveries 295 89 76 460 Net recoveries (charge-offs) 23 (118 ) (217 ) (312 ) Ending balance $ 12,986 $ 5,944 $ 703 $ 19,633 Nine Months Ended September 30, 2017 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Allowance, excluding PCI Beginning balance $ 11,690 $ 5,487 $ 759 $ 17,936 Provision for loan losses 822 561 785 2,168 Charge-offs (493 ) (535 ) (948 ) (1,976 ) Recoveries 585 294 199 1,078 Net recoveries (charge-offs) 92 (241 ) (749 ) (898 ) Ending balance $ 12,604 $ 5,807 $ 795 $ 19,206 PCI allowance Beginning balance $ - $ 12 $ - $ 12 Recovery of loan losses - (12 ) - (12 ) Benefit attributable to the FDIC - - - - Recovery of loan losses - (12 ) - (12 ) Recovery of loan losses recorded through the - - - - Ending balance $ - $ - $ - $ - Total allowance Beginning balance $ 11,690 $ 5,499 $ 759 $ 17,948 Provision for loan losses 822 549 785 2,156 Benefit attributable to the FDIC - - - - Provision for loan losses 822 549 785 2,156 Recovery of loan losses recorded through the - - - - Charge-offs (493 ) (535 ) (948 ) (1,976 ) Recoveries 585 294 199 1,078 Net recoveries (charge-offs) 92 (241 ) (749 ) (898 ) Ending balance $ 12,604 $ 5,807 $ 795 $ 19,206 Nine Months Ended September 30, 2016 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Allowance, excluding PCI Beginning balance $ 13,133 $ 6,356 $ 690 $ 20,179 (Recovery of) provision for loan losses (200 ) 436 560 796 Charge-offs (747 ) (1,135 ) (809 ) (2,691 ) Recoveries 800 275 262 1,337 Net recoveries (charge-offs) 53 (860 ) (547 ) (1,354 ) Ending balance $ 12,986 $ 5,932 $ 703 $ 19,621 PCI allowance Beginning balance $ - $ 54 $ - $ 54 Recovery of loan losses - (42 ) - (42 ) Benefit attributable to the FDIC - 1 - 1 Recovery of loan losses - (41 ) - (41 ) Recovery of loan losses recorded through the FDIC indemnification asset - (1 ) - (1 ) Ending balance $ - $ 12 $ - $ 12 Total allowance Beginning balance $ 13,133 $ 6,410 $ 690 $ 20,233 (Recovery of) provision for loan losses (200 ) 394 560 754 Benefit attributable to the FDIC - 1 - 1 (Recovery of) provision for loan losses (200 ) 395 560 755 Recovery of loan losses recorded through the FDIC indemnification asset - (1 ) - (1 ) Charge-offs (747 ) (1,135 ) (809 ) (2,691 ) Recoveries 800 275 262 1,337 Net recoveries (charge-offs) 53 (860 ) (547 ) (1,354 ) Ending balance $ 12,986 $ 5,944 $ 703 $ 19,633 The following tables present the allowance for loan losses and recorded investment in loans evaluated for impairment, excluding PCI loans, by loan class, as of the dates indicated: September 30, 2017 (Amounts in thousands) Loans Individually Evaluated for Impairment Allowance for Loans Individually Evaluated Loans Collectively Evaluated for Impairment Allowance for Loans Collectively Evaluated Commercial loans Construction, development, and other land $ - $ - $ 72,293 $ 1,099 Commercial and industrial 2,400 262 87,782 478 Multi-family residential 254 - 125,743 1,133 Single family non-owner occupied 1,103 69 140,150 2,308 Non-farm, non-residential 2,561 325 606,773 6,706 Agricultural - - 6,096 44 Farmland 940 50 26,957 130 Total commercial loans 7,258 706 1,065,794 11,898 Consumer real estate loans Home equity lines - - 116,468 825 Single family owner occupied 8,259 754 496,264 3,852 Owner occupied construction - - 47,034 376 Total consumer real estate loans 8,259 754 659,766 5,053 Consumer and other loans Consumer loans - - 70,695 795 Other - - 4,856 - Total consumer and other loans - - 75,551 795 Total loans, excluding PCI loans $ 15,517 $ 1,460 $ 1,801,111 $ 17,746 December 31, 2016 (Amounts in thousands) Loans Individually Evaluated for Impairment Allowance for Loans Individually Evaluated Loans Collectively Evaluated for Impairment Allowance for Loans Collectively Evaluated Commercial loans Construction, development, and other land $ - $ - $ 60,281 $ 889 Commercial and industrial - - 93,099 495 Multi-family residential 281 - 133,947 1,157 Single family non-owner occupied 1,910 31 139,711 2,721 Non-farm, non-residential 1,454 - 600,915 6,185 Agricultural - - 6,028 43 Farmland 981 18 31,145 151 Total commercial loans 4,626 49 1,065,126 11,641 Consumer real estate loans Home equity lines - - 122,000 895 Single family owner occupied 5,120 770 501,617 3,594 Owner occupied construction 336 - 44,199 228 Total consumer real estate loans 5,456 770 667,816 4,717 Consumer and other loans Consumer loans - - 77,524 759 Other - - 3,971 - Total consumer and other loans - - 81,495 759 Total loans, excluding PCI loans $ 10,082 $ 819 $ 1,814,437 $ 17,117 The following table presents the allowance for loan losses on PCI loans and recorded investment in PCI loans, by loan pool, as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Recorded Investment Allowance for Loan Pools With Impairment Recorded Investment Allowance for Loan Pools With Impairment Commercial loans Waccamaw commercial $ 452 $ - $ 260 $ - Peoples commercial 4,159 - 4,491 - Other 1,011 - 1,095 - Total commercial loans 5,622 - 5,846 - Consumer real estate loans Waccamaw serviced home equity lines 13,270 - 20,178 - Waccamaw residential 1,181 - 1,320 - Peoples residential 1,020 - 1,085 12 Total consumer real estate loans 15,471 - 22,583 12 Total PCI loans $ 21,093 $ - $ 28,429 $ 12 Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of September 30, 2017. |
Note 6 - FDIC Indemnification A
Note 6 - FDIC Indemnification Asset | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
FDIC Loss Share Agreement Receivable [Text Block] | Note 6 . FDIC Indemnification Asset In connection with the FDIC- assisted acquisition of Waccamaw in 2012, $31.29 $54 September 30, 2017, $56.99 $276 December 31, 2016. 80% June 30, 2017, June 30, 2019. June 30, 2022, Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Beginning balance $ 8,159 $ 16,431 $ 12,173 $ 20,844 Decrease in estimated losses on covered loans - - - (1 ) Increase in estimated losses on covered OREO 4 277 71 851 Reimbursable expenses from the FDIC 47 60 108 134 Net amortization (268 ) (1,369 ) (3,186 ) (3,856 ) Reimbursements from the FDIC (477 ) (1,067 ) (1,701 ) (3,640 ) Ending balance $ 7,465 $ 14,332 $ 7,465 $ 14,332 |
Note 7 - Deposits
Note 7 - Deposits | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 7 . Deposits The following table presents the components of deposits as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Noninterest-bearing demand deposits $ 452,940 $ 427,705 Interest-bearing deposits: Interest-bearing demand deposits 393,244 378,339 Money market accounts 172,266 196,997 Savings deposits 337,934 326,263 Certificates of deposit 381,625 382,503 Individual retirement accounts 125,811 129,531 Total interest-bearing deposits 1,410,880 1,413,633 Total deposits $ 1,863,820 $ 1,841,338 |
Note 8 - Borrowings
Note 8 - Borrowings | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8 . Borrowings The following table presents the components of borrowings as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Balance Weighted Average Rate Balance Weighted Average Rate Short-term borrowings Retail repurchase agreements $ 58,783 0.07 % $ 73,005 0.07 % Long-term borrowings Wholesale repurchase agreements 25,000 3.18 % 25,000 3.18 % Long-term FHLB advances 50,000 4.00 % 65,000 4.04 % Other borrowings Subordinated debt - - 15,464 3.65 % Other debt - 244 Total borrowings $ 133,783 $ 178,713 The following schedule presents the contractual and weighted average maturities of long-term borrowings, by year, as of September 30, 2017: Wholesale Repurchase Agreements FHLB Borrowings Total (Amounts in thousands) 2017 $ - $ - $ - 2018 - - - 2019 25,000 - 25,000 2020 - - - 2021 - 50,000 50,000 2022 and thereafter - - - Total long-term borrowings $ 25,000 $ 50,000 $ 75,000 Weighted average maturity (in years) 1.41 3.27 2.65 The FHLB may ’ lives. If called, the advance may may $934.90 September 30, 2017. $446.30 $113.71 September 30, 2017. Investment securities pledged to secure repurchase agreements remain under the Company ’s control during the agreements’ terms. The counterparties may may September 30, 2017: U.S. Treasury Securities U.S. Agency Securities Municipal Securities Mortgage-backed Agency Securities Total (Amounts in thousands) Overnight and continuous $ 5,240 $ 12,874 $ 37,953 $ 2,639 $ 58,706 Up to 30 days - - - - - 30 - 90 days - - - - - Greater than 90 days 9,000 3,400 - 12,677 25,077 $ 14,240 $ 16,274 $ 37,953 $ 15,316 $ 83,783 T he Company issued $15.46 October 2003 three 2.95% 30 October 2033. first 2017, $15.46 In addition, the Company maintains a $15.00 one 2.00% that matures in April 2018. no September 30, 2017, December 31, 2016. |
Note 9 - Derivative Instruments
Note 9 - Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 9 . Derivative Instruments and Hedging Activities As of September 30, 2017, The Company uses interest rate swap contracts to modify its exposure to interest rate risk caused by changes in the LIBOR curve in relation to certain designated fixed rate loans. These instruments are used to convert these fixed rate loans to an effective floating rate. If the LIBOR rate falls below the loan ’s stated fixed rate for a given period, the Company will owe the floating rate payer the notional amount times the difference between LIBOR and the stated fixed rate. If LIBOR is above the stated rate for a given period, the Company will receive payments based on the notional amount times the difference between LIBOR and the stated fixed rate. The Company’s interest rate swaps qualify as fair value hedging instruments; therefore, fair value changes in the derivative and hedged item attributable to the hedged risk are recognized in earnings in the same period. The Company ’s interest rate swap agreements include a ten $1.28 August 2017; fourteen $1.20 March 2015; fifteen $4.37 February 2014. September 30, 2017. September 30, 2017 December 31, 2016 Notional or Fair Value Notional or Fair Value (Amounts in thousands) Contractual Amount Derivative Assets Derivative Liabilities Contractual Amount Derivative Assets Derivative Liabilities Derivatives designated as hedges Interest rate swaps $ 5,892 $ - $ 151 $ 4,835 $ - $ 167 Total derivatives $ 5,892 $ - $ 151 $ 4,835 $ - $ 167 The following table presents the effect of derivative and hedging activity, if applicable, on the consolidated statements of income for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in thousands) 2017 2016 2017 2016 Income Statement Location Derivatives designated as hedges Interest rate swaps $ 23 $ 31 $ 64 $ 86 Interest and fees on loans Total derivative expense $ 23 $ 31 $ 64 $ 86 |
Note 10 - Employee Benefit Plan
Note 10 - Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 1 0 . Employee Benefit Plans The Company maintains two ’s unfunded Benefit Plans include the Supplemental Executive Retention Plan and the Directors’ Supplemental Retirement Plan. The following table presents the components of net periodic pension cost for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Service cost $ 57 $ 46 $ 173 $ 138 Interest cost 93 95 279 286 Amortization of prior service cost 57 57 171 170 Amortization of losses 8 12 23 35 Net periodic cost $ 215 $ 210 $ 646 $ 629 |
Note 11 - Accumulated Other Com
Note 11 - Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 1 1 . Accumulated Other Comprehensive Income The following table s present the activity in accumulated other comprehensive income (“AOCI”), net of tax and by component, during the periods indicated: Three Months Ended September 30, 2017 Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ 1,302 $ (1,303 ) $ (1 ) Other comprehensive loss before reclassifications (106 ) (1 ) (107 ) Reclassified from AOCI - 41 41 Other comprehensive (loss) income, net (106 ) 40 (66 ) Ending balance $ 1,196 $ (1,263 ) $ (67 ) Three Months Ended September 30, 2016 Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (1,706 ) $ (1,311 ) $ (3,017 ) Other comprehensive income (loss) before reclassifications 465 (2 ) 463 Reclassified from AOCI 2,881 43 2,924 Other comprehensive income, net 3,346 41 3,387 Ending balance $ 1,640 $ (1,270 ) $ 370 Nine Months Ended September 30, 2017 Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (544 ) $ (1,467 ) $ (2,011 ) Other comprehensive income before reclassifications 1,329 83 1,412 Reclassified from AOCI 411 121 532 Other comprehensive income, net 1,740 204 1,944 Ending balance $ 1,196 $ (1,263 ) $ (67 ) Nine Months Ended September 30, 2016 Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (3,885 ) $ (1,362 ) $ (5,247 ) Other comprehensive income (loss) before reclassifications 2,588 (36 ) 2,552 Reclassified from AOCI 2,937 128 3,065 Other comprehensive income, net 5,525 92 5,617 Ending balance $ 1,640 $ (1,270 ) $ 370 The following table presents reclassifications out of AOCI , by component, during the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, Income Statement (Amounts in thousands) 2017 2016 2017 2016 Line Item Affected Available-for-sale securities Loss (gain) recognized $ - $ (25 ) $ 657 $ 53 Net gain (loss) on sale of securities Credit-related OTTI recognized - 4,635 - 4,646 Net impairment losses recognized in earnings Reclassified out of AOCI, before tax - 4,610 657 4,699 Income before income taxes Income tax expense - 1,729 246 1,762 Income tax expense Reclassified out of AOCI, net of tax - 2,881 411 2,937 Net income Employee benefit plans Amortization of prior service cost 57 57 171 170 (1) Amortization of net actuarial benefit cost 8 12 23 35 (1) Reclassified out of AOCI, before tax 65 69 194 205 Income before income taxes Income tax expense 24 26 73 77 Income tax expense Reclassified out of AOCI, net of tax 41 43 121 128 Net income Total reclassified out of AOCI, net of tax $ 41 $ 2,924 $ 532 $ 3,065 Net income ( 1 Amortization is included in net periodic pension cost. See Note 10, |
Note 12 - Fair Value
Note 12 - Fair Value | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | Note 1 2 . Fair Value Financial Instruments Measured at Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy ranks the inputs used in measuring fair value as follows: ● Level 1 – Observable, unadjusted quoted prices in active markets ● Level 2 – Inputs other than quoted prices included in Level 1 ● Level 3 – Unobservable inputs with little or no The Company uses fair value measurements to record adjustments to certain financial assets and liabilities on a recurring basis. The Company may may not Assets and Liabilities Reported at Fair Value on a Recurring Basis Available-for-Sale Securities . Securities available for sale are reported at fair value on a recurring basis. The fair value of Level 1 1 not 2 may 2 not 3 Fair value models may not not 3 third 3 third Loans Held for Investment . Loans held for investment are reported at fair value using discounted future cash flows that apply current interest rates for loans with similar terms and borrower credit quality. Loans related to fair value hedges are recorded at fair value on a recurring basis. Deferred Compensation Assets and Liabilities . Securities held for trading purposes are recorded at fair value on a recurring basis and included in other assets in the consolidated balance sheets. These securities include assets related to employee deferred compensation plans, which are generally invested in Level 1 Derivative Assets and Liabilities . Derivatives are recorded at fair value on a recurring basis. The Company obtains dealer quotes, Level 2 The following tables summarize financial assets and liabilities recorded at fair value on a recurring basis, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: September 30, 2017 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale securities U.S. Treasury securities $ 36,964 $ - $ 36,964 $ - U.S. Agency securities 1,275 - 1,275 - Municipal securities 104,907 - 104,907 - Single issue trust preferred securities 8,962 - 8,962 - Mortgage-backed Agency securities 22,243 - 22,243 - Equity securities 73 55 18 - Total available-for-sale securities 174,424 55 174,369 - Fair value loans 5,758 - 5,758 - Deferred compensation assets 3,330 3,330 - - Deferred compensation liabilities 3,330 3,330 - - IRLCs - - - - Derivative liabilities 151 - 151 - December 31, 2016 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale securities U.S. Agency securities $ 1,345 $ - $ 1,345 $ - Municipal securities 113,331 - 113,331 - Single issue trust preferred securities 19,939 - 19,939 - Mortgage-backed Agency securities 30,891 - 30,891 - Equity securities 73 55 18 - Total available-for-sale securities 165,579 55 165,524 - Fair value loans 4,701 - 4,701 - Deferred compensation assets 3,224 3,224 - - Deferred compensation liabilities 3,224 3,224 - - Derivative liabilities 167 - 167 - No 3 three nine September 30, 2017 2016. Assets Measured at Fair Value on a Nonrecurring Basis Impaired Loans . Impaired loans are recorded at fair value on a nonrecurring basis when repayment is expected solely from the sale of the loan’s collateral. Fair value is based on appraised value adjusted for customized discounting criteria, Level 3 The Company maintains an active and robust problem credit identification system. The impairment review includes obtaining third ’s Special Assets staff manages and monitors all impaired loans. Internal collateral valuations are generally performed within two four third thirty forty-five third not Specific reserves are generally recorded for impaired loans while third third not not not may OREO . OREO is recorded at fair value on a nonrecurring basis using Level 3 The following tables present assets measured at fair value on a nonrecurring basis, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: September 30, 2017 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Impaired loans, non-covered $ 6,757 $ - $ - $ 6,757 OREO, non-covered 2,293 - - 2,293 OREO, covered 54 - - 54 December 31, 2016 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Impaired loans, non-covered $ 4,078 $ - $ - $ 4,078 OREO, non-covered 5,109 - - 5,109 OREO, covered 265 - - 265 Quantitative Information about Level 3 The following table provides quantitative information for assets measured at fair value on a nonrecurring basis using Level 3 Valuation Unobservable Discount Range (Weighted Average) Technique Input September 30, 2017 December 31, 2016 Impaired loans, non-covered Discounted appraisals (1) Appraisal adjustments (2) 2% to 63% (18%) 3% to 39% (17%) OREO, non-covered Discounted appraisals (1) Appraisal adjustments (2) 10% to 62% (28%) 0% to 88% (30%) OREO, covered Discounted appraisals (1) Appraisal adjustments (2) 0% to 65% (56%) 0% to 44% (40%) ( 1 Fair value is generally based on appraisals of the underlying collateral. ( 2 Appraisals may Fair Value of Financial Instruments The Company uses various methodologies and assumptions to estimate the fair value of certain financial instruments. A description of valuation methodologies used for instruments not Cash and Cash Equivalents . Cash and cash equivalents are reported at their carrying amount, which is considered a reasonable estimate due to the short-term nature of these instruments. Held-to-Maturity Securities . Securities held to maturity are reported at fair value using quoted market prices or dealer quotes. FDIC Indemnification Asset . The FDIC indemnification asset is reported at fair value using discounted future cash flows that apply current discount rates. Accrued Interest Receivable/Payable . Accrued interest receivable/payable is reported at their carrying amount, which is considered a reasonable estimate due to the short-term nature of these instruments. Deposits and Securities Sold Under Agreements to Repurchase . Deposits without a stated maturity, such as demand, interest-bearing demand, and savings, are reported at their carrying amount, the amount payable on demand as of the reporting date, which is considered a reasonable estimate of fair value. Deposits and repurchase agreements with fixed maturities and rates are reported at fair value using discounted future cash flows that apply interest rates available in the market for instruments with similar characteristics and maturities. FHLB and Other Borrowings . FHLB and other borrowings are reported at fair value using discounted future cash flows that apply interest rates available to the Company for borrowings with similar characteristics and maturities. Trust preferred obligations are reported at fair value using current credit spreads in the market for similar issues. Off-Balance Sheet Instruments . The Company believes that fair values of unfunded commitments to extend credit, standby letters of credit, and financial guarantees are not not not 14, The following tables present the carrying amounts and fair values of financial instruments, by the level of valuation inputs in the fair value hierarchy, as of the dates indicated: September 30, 2017 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 105,119 $ 105,119 $ 105,119 $ - $ - Securities available for sale 174,424 174,424 55 174,369 - Securities held to maturity 25,182 25,226 - 25,226 - Loans held for investment, net of allowance 1,818,515 1,792,719 - 5,758 1,786,961 FDIC indemnification asset 7,465 4,548 - - 4,548 Interest receivable 5,156 5,156 - 5,156 - Deferred compensation assets 3,330 3,330 3,330 - - Liabilities Demand deposits 452,940 452,940 - 452,940 - Interest-bearing demand deposits 393,244 393,244 - 393,244 - Savings deposits 510,200 510,200 - 510,200 - Time deposits 507,436 503,332 - 503,332 - Securities sold under agreements to repurchase 83,783 84,315 - 84,315 - Interest payable 1,085 1,085 - 1,085 - FHLB and other borrowings 50,000 53,402 - 53,402 - Derivative financial liabilities 151 151 - 151 - Deferred compensation liabilities 3,330 3,330 3,330 - - December 31, 2016 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 76,307 $ 76,307 $ 76,307 $ - $ - Securities available for sale 165,579 165,579 55 165,524 - Securities held to maturity 47,133 47,266 - 47,266 - Loans held for investment, net of allowance 1,835,000 1,805,999 - 4,701 1,801,298 FDIC indemnification asset 12,173 8,112 - - 8,112 Interest receivable 5,553 5,553 - 5,553 - Deferred compensation assets 3,224 3,224 3,224 - - Liabilities Demand deposits 427,705 427,705 - 427,705 - Interest-bearing demand deposits 378,339 378,339 - 378,339 - Savings deposits 523,260 523,260 - 523,260 - Time deposits 512,034 507,917 - 507,917 - Securities sold under agreements to repurchase 98,005 98,879 - 98,879 - Interest payable 1,280 1,280 - 1,280 - FHLB and other borrowings 80,708 83,551 - 83,551 - Derivative financial liabilities 167 167 - 167 - Deferred compensation liabilities 3,224 3,224 3,224 - - |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 13. The following table presents the calculation of basic and diluted earnings per common share for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (Amounts in thousands, except share and per share data) Net income $ 7,652 $ 6,383 $ 20,272 $ 18,722 Dividends on preferred stock - - - - Net income available to common shareholders $ 7,652 $ 6,383 $ 20,272 $ 18,722 Weighted average common shares outstanding, basic 17,005,654 17,031,074 17,005,350 17,433,406 Dilutive effect of potential common shares Stock options 49,739 38,746 50,140 31,856 Restricted stock 27,336 13,706 21,468 9,949 Total dilutive effect of potential common shares 77,075 52,452 71,608 41,805 Weighted average common shares outstanding, diluted 17,082,729 17,083,526 17,076,958 17,475,211 Basic earnings per common share $ 0.45 $ 0.37 $ 1.19 $ 1.07 Diluted earnings per common share 0.45 0.37 1.19 1.07 Antidilutive potential common shares Stock options 71,592 127,789 75,868 127,789 Total potential antidilutive shares 71,592 127,789 75,868 127,789 |
Note 14 - Litigation, Commitmen
Note 14 - Litigation, Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 1 4 . Litigation, Commitments and Contingencies Litigation In the normal course of business, the Company is a defendant in various legal actions and asserted claims. While the Company and its legal counsel are unable to assess the ultimate outcome of each of these matters with certainty, the Company believes the resolution of these actions, singly or in the aggregate, should not Commitments and Contingencies The Company is a party to financial instruments with off -balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit, and financial guarantees. These instruments involve, to varying degrees, elements of credit and interest rate risk beyond the amount recognized in the consolidated balance sheets. The contractual amounts of these instruments reflect the extent of involvement the Company has in particular classes of financial instruments. If the other party to a financial instrument does not Commitments to extend credit are agreements to lend to a customer as long as there is no any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may not may Standby letters of credit and financial guarantees are conditional commitments issued by the Company to guarantee the performance of a customer to a third ’s performance under certain letters of credit is based on management’s credit evaluation of the customer. The following table presents the off-balance sheet financial instruments as of the dates indicated: September 30, 2017 December 31, 2016 (Amounts in thousands) Commitments to extend credit $ 245,978 $ 261,801 Standby letters of credit and financial guarantees (1) 118,318 83,900 Total off-balance sheet risk 364,296 345,701 Reserve for unfunded commitments $ 66 $ 326 ( 1 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The Company ’s accounting and reporting policies conform with U.S. generally accepted accounting principles (“GAAP”) and prevailing practices in the banking industry. The consolidated financial statements include all accounts of the Company and its wholly owned subsidiaries and eliminate all intercompany balances and transactions. The Company operates in one not may The condensed consolidated balance sheet as of December 31, 2016, 10 December 31, 2016 ( “2016 10 March 3, 2017. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain amounts reported in prior years have been reclassified to conform to the current year ’s presentation. These reclassifications had no |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates Preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that require the most subjective or complex judgments relate to fair value measurements, investment securities, the allowance for loan losses, the Federal Deposit Insurance Corporation (“FDIC”) indemnification asset, goodwill and other intangible assets, and income taxes. A discussion of the Company’s application of critical accounting estimates is included in “Critical Accounting Estimates” in Item 2 |
Significant Accounting Policies [Policy Text Block] | Significant Accounting Policies A complete and detailed description of the Company ’s significant accounting policies is included in Note 1, 8 2016 10 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standards Standards Adopted In January 2017, 2017 04, 350 ’s carrying value exceeds its fair value, not 2017 04 December 15, 2019, 2017 04 first 2017. not In January 2017, 2017 03, 250 – Equity Method and Joint Ventures (Topic 323 September 22, 2016 November 17, 2016 2017 03 first 2017. Not In March 2016, 2016 09, 718 The guidance eliminates additional paid-in capital pools for equity-based awards and requires that the related income tax effects of awards be recognized in the income statement. The guidance also allows an employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting and to make a policy election to account for forfeitures as they occur. The Company adopted ASU 2016 09 first 2017 not not Standards Not In August 2017, issued ASU 2017 12, 815 2017 12 December 15, 2018. 2017 12 first 2019. not In May 2017, 2017 09, 718 2017 09 December 15, 2017. 2017 09 first 2018. not In March 2017, 2017 08, 310 20 2017 08 December 15, 2018. 2017 08 first 2019. not In March 2017, 2017 07, 715 2017 07 December 15, 2017. 2017 07 first 2018. not In November 2016, 2016 18, 230 s the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016 18 December 15, 2017. 2016 18 first 2018. not In August 2016, 2016 15, 230 eight 2016 15 s beginning after December 15, 2017, 2016 15 first 2018. not In June 2016, 2016 13, 326 ’s portfolio. In addition, the update amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016 13 December 15, 2019, December 15, 2018. 2016 13 first 2020 In February 2016, 2016 02, 842 2016 02 s beginning after December 15, 2018, 2016 02 first 2019. not In January 2016, 2016 01, 825 10 Recognition and Measurement of Financial Assets and Financial Liabilities.” This ASU significantly revises an entity’s accounting related to ( 1 2 2016 01 December 15, 2017, 2016 01 first 2018. not In May 2014, 2014 09, ’s core principle is that an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under existing guidance. These may August 2015, 2015 14, 2014 09 December 15, 2017, December 15, 2016. 2014 09 2017 10, 2017 05, 2016 20, 2016 12, 2016 10, 2016 08. 2014 09, first 2018 not The Company does not |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2017 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Treasury securities $ 36,973 $ - $ (9 ) $ 36,964 U.S. Agency securities 1,254 21 - 1,275 Municipal securities 102,347 2,648 (88 ) 104,907 Single issue trust preferred securities 9,363 - (401 ) 8,962 Mortgage-backed Agency securities 22,518 72 (347 ) 22,243 Equity securities 55 18 - 73 Total securities available for sale $ 172,510 $ 2,759 $ (845 ) $ 174,424 December 31, 2016 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 1,342 $ 3 $ - $ 1,345 Municipal securities 111,659 2,258 (586 ) 113,331 Single issue trust preferred securities 22,104 - (2,165 ) 19,939 Mortgage-backed Agency securities 31,290 66 (465 ) 30,891 Equity securities 55 18 - 73 Total securities available for sale $ 166,450 $ 2,345 $ (3,216 ) $ 165,579 |
Held-to-maturity Securities [Table Text Block] | September 30, 2017 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 17,949 $ 31 $ - $ 17,980 Corporate securities 7,233 13 - 7,246 Total securities held to maturity $ 25,182 $ 44 $ - $ 25,226 December 31, 2016 Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Amounts in thousands) U.S. Agency securities $ 36,741 $ 124 $ - $ 36,865 Corporate securities 10,392 11 (2 ) 10,401 Total securities held to maturity $ 47,133 $ 135 $ (2 ) $ 47,266 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2017 Amortized (Amounts in thousands) Cost Fair Value Available-for-sale securities Due within one year $ 37,288 $ 37,279 Due after one year but within five years 5,617 5,734 Due after five years but within ten years 96,693 98,602 Due after ten years 10,339 10,493 149,937 152,108 Mortgage-backed securities 22,518 22,243 Equity securities 55 73 Total securities available for sale $ 172,510 $ 174,424 Held-to-maturity securities Due within one year $ - $ - Due after one year but within five years 25,182 25,226 Due after five years but within ten years - - Due after ten years - - Total securities held to maturity $ 25,182 $ 25,226 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | September 30, 2017 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) U.S. Treasury securities $ 36,963 $ (9 ) $ - $ - $ 36,963 $ (9 ) Municipal securities 9,421 (52 ) 1,427 (36 ) 10,848 (88 ) Single issue trust preferred securities - - 8,962 (401 ) 8,962 (401 ) Mortgage-backed Agency securities 7,898 (59 ) 8,281 (288 ) 16,179 (347 ) Total $ 54,282 $ (120 ) $ 18,670 $ (725 ) $ 72,952 $ (845 ) December 31, 2016 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) Municipal securities $ 24,252 $ (527 ) $ 715 $ (59 ) $ 24,967 $ (586 ) Single issue trust preferred securities - - 19,939 (2,165 ) 19,939 (2,165 ) Mortgage-backed Agency securities 12,834 (166 ) 11,851 (299 ) 24,685 (465 ) Total $ 37,086 $ (693 ) $ 32,505 $ (2,523 ) $ 69,591 $ (3,216 ) |
Schedule of Held to Maturity Debt Securities [Table Text Block] | December 31, 2016 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Amounts in thousands) Corporate securities $ 3,533 $ (2 ) $ - $ - $ 3,533 $ (2 ) Total $ 3,533 $ (2 ) $ - $ - $ 3,533 $ (2 ) |
Realized Gain (Loss) on Investments [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (Amounts in thousands) Gross realized gains $ - $ 203 $ - $ 344 Gross realized losses - (178 ) (657 ) (397 ) Net gain (loss) on sale of securities $ - $ 25 $ (657 ) $ (53 ) |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Amount Percent Amount Percent Non-covered loans held for investment Commercial loans Construction, development, and other land $ 72,952 3.97 % $ 56,948 3.07 % Commercial and industrial 90,184 4.91 % 92,204 4.98 % Multi-family residential 125,997 6.86 % 134,228 7.24 % Single family non-owner occupied 143,213 7.79 % 142,965 7.72 % Non-farm, non-residential 613,380 33.38 % 598,674 32.31 % Agricultural 6,096 0.33 % 6,003 0.32 % Farmland 27,897 1.52 % 31,729 1.71 % Total commercial loans 1,079,719 58.76 % 1,062,751 57.35 % Consumer real estate loans Home equity lines 102,888 5.60 % 106,361 5.74 % Single family owner occupied 501,242 27.27 % 500,891 27.03 % Owner occupied construction 47,034 2.56 % 44,535 2.41 % Total consumer real estate loans 651,164 35.43 % 651,787 35.18 % Consumer and other loans Consumer loans 70,695 3.85 % 77,445 4.18 % Other 4,856 0.26 % 3,971 0.21 % Total consumer and other loans 75,551 4.11 % 81,416 4.39 % Total non-covered loans 1,806,434 98.30 % 1,795,954 96.92 % Total covered loans 31,287 1.70 % 56,994 3.08 % Total loans held for investment, net of unearned income $ 1,837,721 100.00 % $ 1,852,948 100.00 % |
Schedule of Covered Loans Held for Investment Net of Unearned Income [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Covered loans Commercial loans Construction, development, and other land $ 40 $ 4,570 Commercial and industrial - 895 Multi-family residential - 8 Single family non-owner occupied 292 962 Non-farm, non-residential 10 7,512 Agricultural - 25 Farmland - 397 Total commercial loans 342 14,369 Consumer real estate loans Home equity lines 26,850 35,817 Single family owner occupied 4,095 6,729 Total consumer real estate loans 30,945 42,546 Consumer and other loans Consumer loans - 79 Total covered loans $ 31,287 $ 56,994 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Recorded Investment Unpaid Principal Balance Recorded Investment Unpaid Principal Balance PCI Loans, by acquisition Peoples $ 5,179 $ 8,328 $ 5,576 $ 9,397 Waccamaw 14,903 34,420 21,758 45,030 Other acquired 1,011 1,037 1,095 1,121 Total PCI Loans $ 21,093 $ 43,785 $ 28,429 $ 55,548 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Accretable Yield [Table Text Block] | Peoples Waccamaw Total (Amounts in thousands) Balance January 1, 2016 $ 3,589 $ 26,109 $ 29,698 Accretion (982 ) (4,408 ) (5,390 ) Reclassifications from nonaccretable difference (1) 231 848 1,079 Other changes, net 1,774 4 1,778 Balance September 30, 2016 $ 4,612 $ 22,553 $ 27,165 Balance January 1, 2017 $ 4,392 $ 21,834 $ 26,226 Accretion (969 ) (4,690 ) (5,659 ) Reclassifications from nonaccretable difference (1) 782 2,525 3,307 Other changes, net (375 ) (311 ) (686 ) Balance September 30, 2017 $ 3,830 $ 19,358 $ 23,188 (1) Represents changes attributable to expected loss assumptions |
Note 4 - Credit Quality (Tables
Note 4 - Credit Quality (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2017 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Non-covered loans Commercial loans Construction, development, and other land $ 69,257 $ 2,791 $ 904 $ - $ - $ 72,952 Commercial and industrial 85,368 1,844 2,972 - - 90,184 Multi-family residential 119,399 5,882 716 - - 125,997 Single family non-owner occupied 132,000 6,839 4,374 - - 143,213 Non-farm, non-residential 593,809 11,126 8,243 202 - 613,380 Agricultural 5,743 235 118 - - 6,096 Farmland 25,097 153 2,647 - - 27,897 Consumer real estate loans Home equity lines 100,375 850 1,663 - - 102,888 Single family owner occupied 471,378 5,705 24,159 - - 501,242 Owner occupied construction 46,802 - 232 - - 47,034 Consumer and other loans Consumer loans 70,459 27 209 - - 70,695 Other 4,856 - - - - 4,856 Total non-covered loans 1,724,543 35,452 46,237 202 - 1,806,434 Covered loans Commercial loans Construction, development, and other land - 39 1 - - 40 Single family non-owner occupied 271 - 21 - - 292 Non-farm, non-residential - - 10 - - 10 Consumer real estate loans Home equity lines 12,242 13,840 768 - - 26,850 Single family owner occupied 3,136 425 534 - - 4,095 Total covered loans 15,649 14,304 1,334 - - 31,287 Total loans $ 1,740,192 $ 49,756 $ 47,571 $ 202 $ - $ 1,837,721 December 31, 2016 Special (Amounts in thousands) Pass Mention Substandard Doubtful Loss Total Non-covered loans Commercial loans Construction, development, and other land $ 55,188 $ 980 $ 780 $ - $ - $ 56,948 Commercial and industrial 87,581 3,483 1,137 - 3 92,204 Multi-family residential 126,468 6,992 768 - - 134,228 Single family non-owner occupied 131,934 5,466 5,565 - - 142,965 Non-farm, non-residential 579,134 10,236 9,102 202 - 598,674 Agricultural 5,839 164 - - - 6,003 Farmland 28,887 1,223 1,619 - - 31,729 Consumer real estate loans Home equity lines 104,033 871 1,457 - - 106,361 Single family owner occupied 475,402 4,636 20,381 472 - 500,891 Owner occupied construction 43,833 - 702 - - 44,535 Consumer and other loans Consumer loans 77,218 11 216 - - 77,445 Other 3,971 - - - - 3,971 Total non-covered loans 1,719,488 34,062 41,727 674 3 1,795,954 Covered loans Commercial loans Construction, development, and other land 2,768 803 999 - - 4,570 Commercial and industrial 882 - 13 - - 895 Multi-family residential - - 8 - - 8 Single family non-owner occupied 796 63 103 - - 962 Non-farm, non-residential 6,423 537 552 - - 7,512 Agricultural 25 - - - - 25 Farmland 132 - 265 - - 397 Consumer real estate loans Home equity lines 14,283 20,763 771 - - 35,817 Single family owner occupied 4,601 928 1,200 - - 6,729 Consumer and other loans Consumer loans 79 - - - - 79 Total covered loans 29,989 23,094 3,911 - - 56,994 Total loans $ 1,749,477 $ 57,156 $ 45,638 $ 674 $ 3 $ 1,852,948 |
Impaired Financing Receivables [Table Text Block] | September 30, 2017 December 31, 2016 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (Amounts in thousands) Investment Balance Allowance Investment Balance Allowance Impaired loans with no related allowance Commercial loans Construction, development, and other land $ 662 $ 999 $ - $ 33 $ 35 $ - Commercial and industrial 146 1,093 - 346 383 - Multi-family residential 381 836 - 294 369 - Single family non-owner occupied 2,485 3,891 - 3,084 3,334 - Non-farm, non-residential 3,905 6,239 - 3,829 4,534 - Agricultural 118 122 - - - - Farmland 990 1,037 - 1,161 1,188 - Consumer real estate loans Home equity lines 1,624 1,766 - 913 968 - Single family owner occupied 16,768 18,932 - 11,779 12,630 - Owner occupied construction 233 233 - 573 589 - Consumer and other loans Consumer loans 61 63 - 62 103 - Total impaired loans with no allowance 27,373 35,211 - 22,074 24,133 - Impaired loans with a related allowance Commercial loans Construction, development, and other land - - - - - - Commercial and industrial 2,400 2,400 262 - - - Single family non-owner occupied 771 772 69 351 351 31 Non-farm, non-residential 865 874 325 - - - Farmland 410 418 50 430 430 18 Consumer real estate loans Home equity lines - - - - - - Single family owner occupied 3,771 3,779 754 4,118 4,174 770 Total impaired loans with an allowance 8,217 8,243 1,460 4,899 4,955 819 Total impaired loans (1) $ 35,590 $ 43,454 $ 1,460 $ 26,973 $ 29,088 $ 819 |
Schedule of Impaired Financing Receivable, Average Recorded Investment and Interest Income Recognized [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Impaired loans with no related allowance: Commercial loans Construction, development, and other land $ 32 $ 907 $ 22 $ 600 $ 32 $ 309 $ 22 $ 447 Commercial and industrial 5 754 6 1,029 8 468 10 738 Multi-family residential - 509 15 562 3 474 15 309 Single family non-owner occupied 11 3,304 91 3,498 88 3,313 107 3,035 Non-farm, non-residential 68 5,244 65 8,930 93 3,766 307 10,186 Agricultural 4 127 - - 4 127 - - Farmland 17 1,003 5 204 17 1,004 9 186 Consumer real estate loans Home equity lines 15 1,683 6 1,157 35 1,259 21 1,318 Single family owner occupied 137 17,478 91 13,175 317 15,209 254 12,436 Owner occupied construction 1 235 2 585 6 234 7 470 Consumer and other loans Consumer loans 1 62 2 63 3 52 2 45 Total impaired loans with no related allowance 291 31,306 305 29,803 606 26,215 754 29,170 Impaired loans with a related allowance: Commercial loans Construction, development, and other land - - - - - 143 - - Commercial and industrial 50 2,516 - - 103 1,727 - - Single family non-owner occupied 8 778 5 682 21 488 18 572 Non-farm, non-residential - 872 45 4,658 15 964 215 5,108 Farmland - 413 - - - 275 - - Consumer real estate loans Home equity lines - - - - - 139 - - Single family owner occupied 24 3,814 24 4,130 92 4,527 91 4,547 Owner occupied construction - - - - - 1 - 115 Total impaired loans with a related allowance 82 8,393 74 9,470 231 8,264 324 10,342 Total impaired loans $ 373 $ 39,699 $ 379 $ 39,273 $ 837 $ 34,479 $ 1,078 $ 39,512 |
Impaired Financing Receivables, Summarized Information [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands, except impaired loan pools) Unpaid principal balance $ - $ 1,086 Recorded investment - 1,085 Allowance for loan losses related to PCI loan pools - 12 Impaired PCI loan pools - 1 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Interest income recognized $ - $ 12 $ 20 $ 130 Average recorded investment - 1,139 705 2,195 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Non-covered Covered Total Non-covered Covered Total Commercial loans Construction, development, and other land $ 126 $ - $ 126 $ 72 $ 32 $ 104 Commercial and industrial 118 - 118 332 13 345 Multi-family residential 330 - 330 294 - 294 Single family non-owner occupied 1,626 20 1,646 1,242 24 1,266 Non-farm, non-residential 3,352 - 3,352 3,295 30 3,325 Agricultural 118 - 118 - - - Farmland 870 - 870 1,591 - 1,591 Consumer real estate loans Home equity lines 828 350 1,178 705 400 1,105 Single family owner occupied 11,517 50 11,567 7,924 109 8,033 Owner occupied construction - - - 336 - 336 Consumer and other loans Consumer loans 57 - 57 63 - 63 Total nonaccrual loans $ 18,942 $ 420 $ 19,362 $ 15,854 $ 608 $ 16,462 |
Past Due Financing Receivables [Table Text Block] | September 30, 2017 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans Non-covered loans Commercial loans Construction, development, and other land $ 25 $ - $ - $ 25 $ 72,927 $ 72,952 Commercial and industrial 226 36 47 309 89,875 90,184 Multi-family residential 341 185 - 526 125,471 125,997 Single family non-owner occupied 405 186 861 1,452 141,761 143,213 Non-farm, non-residential 523 17 2,623 3,163 610,217 613,380 Agricultural 6 - - 6 6,090 6,096 Farmland 849 410 343 1,602 26,295 27,897 Consumer real estate loans Home equity lines 242 105 298 645 102,243 102,888 Single family owner occupied 3,133 1,414 6,199 10,746 490,496 501,242 Owner occupied construction 330 - - 330 46,704 47,034 Consumer and other loans Consumer loans 360 62 38 460 70,235 70,695 Other - - - - 4,856 4,856 Total non-covered loans 6,440 2,415 10,409 19,264 1,787,170 1,806,434 Covered loans Commercial loans Construction, development, and other land - - - - 40 40 Single family non-owner occupied 72 - - 72 220 292 Non-farm, non-residential - - - - 10 10 Consumer real estate loans Home equity lines 291 - 118 409 26,441 26,850 Single family owner occupied - - 28 28 4,067 4,095 Total covered loans 363 - 146 509 30,778 31,287 Total loans $ 6,803 $ 2,415 $ 10,555 $ 19,773 $ 1,817,948 $ 1,837,721 December 31, 2016 30 - 59 Days 60 - 89 Days 90+ Days Total Current Total (Amounts in thousands) Past Due Past Due Past Due Past Due Loans Loans Non-covered loans Commercial loans Construction, development, and other land $ 33 $ 5 $ 17 $ 55 $ 56,893 $ 56,948 Commercial and industrial 174 30 149 353 91,851 92,204 Multi-family residential 163 - 281 444 133,784 134,228 Single family non-owner occupied 1,302 159 835 2,296 140,669 142,965 Non-farm, non-residential 1,235 332 2,169 3,736 594,938 598,674 Agricultural - 5 - 5 5,998 6,003 Farmland 224 343 565 1,132 30,597 31,729 Consumer real estate loans Home equity lines 78 136 658 872 105,489 106,361 Single family owner occupied 4,777 2,408 3,311 10,496 490,395 500,891 Owner occupied construction 342 336 - 678 43,857 44,535 Consumer and other loans Consumer loans 371 90 15 476 76,969 77,445 Other - - - - 3,971 3,971 Total non-covered loans 8,699 3,844 8,000 20,543 1,775,411 1,795,954 Covered loans Commercial loans Construction, development, and other land 434 - 32 466 4,104 4,570 Commercial and industrial - - - - 895 895 Multi-family residential - - - - 8 8 Single family non-owner occupied 24 - - 24 938 962 Non-farm, non-residential 32 - - 32 7,480 7,512 Agricultural - - - - 25 25 Farmland - - - - 397 397 Consumer real estate loans Home equity lines 108 146 62 316 35,501 35,817 Single family owner occupied 58 - 39 97 6,632 6,729 Owner occupied construction - - - - - - Consumer and other loans Consumer loans - - - - 79 79 Total covered loans 656 146 133 935 56,059 56,994 Total loans $ 9,355 $ 3,990 $ 8,133 $ 21,478 $ 1,831,470 $ 1,852,948 |
Trouble Debt Restructuring Accrual Status [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Nonaccrual (1) Accruing Total Nonaccrual (1) Accruing Total Commercial loans Single family non-owner occupied $ 33 $ 875 $ 908 $ 38 $ 892 $ 930 Non-farm, non-residential - 295 295 - 4,160 4,160 Consumer real estate loans Home equity lines - 148 148 - 158 158 Single family owner occupied 1,484 6,690 8,174 905 7,503 8,408 Owner occupied construction - 234 234 341 239 580 Total TDRs $ 1,517 $ 8,242 $ 9,759 $ 1,284 $ 12,952 $ 14,236 Allowance for loan losses related to TDRs $ 707 $ 670 |
Interest Income Related to Troubled Debt Restructurings [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Interest income recognized $ 74 $ 143 $ 159 $ 296 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Three Months Ended September 30, 2017 2016 (Amounts in thousands) Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment Below market interest rate and extended payment term Single family owner occupied 1 $ 42 $ 42 - $ - $ - Total 1 $ 42 $ 42 - $ - $ - Nine Months Ended September 30, 2017 2016 (Amounts in thousands) Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment Total Contracts Pre-modification Recorded Investment Post-modification Recorded Investment Below market interest rate and extended payment term Single family owner occupied 3 $ 141 $ 141 1 $ 115 $ 115 Total 3 $ 141 $ 141 1 $ 115 $ 115 |
Other Real Estate Owned [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Non-covered OREO $ 3,543 $ 5,109 Covered OREO 54 276 Total OREO $ 3,597 $ 5,385 Non-covered OREO secured by residential real estate $ 971 $ 1,746 Residential real estate loans in the foreclosure process (1) 10,025 2,539 |
Note 5 - Allowance for Loan L27
Note 5 - Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Three Months Ended September 30, 2017 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Allowance, excluding PCI Beginning balance $ 12,283 $ 5,802 $ 793 $ 18,878 Provision for loan losses 358 75 305 738 Charge-offs (207 ) (137 ) (373 ) (717 ) Recoveries 170 67 70 307 Net charge-offs (37 ) (70 ) (303 ) (410 ) Ending balance $ 12,604 $ 5,807 $ 795 $ 19,206 PCI allowance Beginning balance $ - $ 8 $ - $ 8 Recovery of loan losses - (8 ) - (8 ) Benefit attributable to the FDIC - - - - Recovery of loan losses - (8 ) - (8 ) Recovery of loan losses recorded through the - - - - Ending balance $ - $ - $ - $ - Total allowance Beginning balance $ 12,283 $ 5,810 $ 793 $ 18,886 Provision for loan losses 358 67 305 730 Benefit attributable to the FDIC - - - - Provision for loan losses 358 67 305 730 Recovery of loan losses recorded through the - - - - Charge-offs (207 ) (137 ) (373 ) (717 ) Recoveries 170 67 70 307 Net charge-offs (37 ) (70 ) (303 ) (410 ) Ending balance $ 12,604 $ 5,807 $ 795 $ 19,206 Three Months Ended September 30, 2016 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Allowance, excluding PCI Beginning balance $ 13,689 $ 6,625 $ 773 $ 21,087 (Recovery of) provision for loan losses (726 ) (575 ) 147 (1,154 ) Charge-offs (272 ) (207 ) (293 ) (772 ) Recoveries 295 89 76 460 Net recoveries (charge-offs) 23 (118 ) (217 ) (312 ) Ending balance $ 12,986 $ 5,932 $ 703 $ 19,621 PCI allowance Beginning balance $ - $ 12 $ - $ 12 Recovery of loan losses - - - - Benefit attributable to the FDIC - - - - Recovery of loan losses - - - - Recovery of loan losses recorded through the FDIC indemnification asset - - - - Ending balance $ - $ 12 $ - $ 12 Total allowance Beginning balance $ 13,689 $ 6,637 $ 773 $ 21,099 (Recovery of) provision for loan losses (726 ) (575 ) 147 (1,154 ) Benefit attributable to the FDIC - - - - (Recovery of) provision for loan losses (726 ) (575 ) 147 (1,154 ) Recovery of loan losses recorded through the FDIC indemnification asset - - - - Charge-offs (272 ) (207 ) (293 ) (772 ) Recoveries 295 89 76 460 Net recoveries (charge-offs) 23 (118 ) (217 ) (312 ) Ending balance $ 12,986 $ 5,944 $ 703 $ 19,633 Nine Months Ended September 30, 2017 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Allowance, excluding PCI Beginning balance $ 11,690 $ 5,487 $ 759 $ 17,936 Provision for loan losses 822 561 785 2,168 Charge-offs (493 ) (535 ) (948 ) (1,976 ) Recoveries 585 294 199 1,078 Net recoveries (charge-offs) 92 (241 ) (749 ) (898 ) Ending balance $ 12,604 $ 5,807 $ 795 $ 19,206 PCI allowance Beginning balance $ - $ 12 $ - $ 12 Recovery of loan losses - (12 ) - (12 ) Benefit attributable to the FDIC - - - - Recovery of loan losses - (12 ) - (12 ) Recovery of loan losses recorded through the - - - - Ending balance $ - $ - $ - $ - Total allowance Beginning balance $ 11,690 $ 5,499 $ 759 $ 17,948 Provision for loan losses 822 549 785 2,156 Benefit attributable to the FDIC - - - - Provision for loan losses 822 549 785 2,156 Recovery of loan losses recorded through the - - - - Charge-offs (493 ) (535 ) (948 ) (1,976 ) Recoveries 585 294 199 1,078 Net recoveries (charge-offs) 92 (241 ) (749 ) (898 ) Ending balance $ 12,604 $ 5,807 $ 795 $ 19,206 Nine Months Ended September 30, 2016 (Amounts in thousands) Commercial Consumer Real Estate Consumer and Other Total Allowance Allowance, excluding PCI Beginning balance $ 13,133 $ 6,356 $ 690 $ 20,179 (Recovery of) provision for loan losses (200 ) 436 560 796 Charge-offs (747 ) (1,135 ) (809 ) (2,691 ) Recoveries 800 275 262 1,337 Net recoveries (charge-offs) 53 (860 ) (547 ) (1,354 ) Ending balance $ 12,986 $ 5,932 $ 703 $ 19,621 PCI allowance Beginning balance $ - $ 54 $ - $ 54 Recovery of loan losses - (42 ) - (42 ) Benefit attributable to the FDIC - 1 - 1 Recovery of loan losses - (41 ) - (41 ) Recovery of loan losses recorded through the FDIC indemnification asset - (1 ) - (1 ) Ending balance $ - $ 12 $ - $ 12 Total allowance Beginning balance $ 13,133 $ 6,410 $ 690 $ 20,233 (Recovery of) provision for loan losses (200 ) 394 560 754 Benefit attributable to the FDIC - 1 - 1 (Recovery of) provision for loan losses (200 ) 395 560 755 Recovery of loan losses recorded through the FDIC indemnification asset - (1 ) - (1 ) Charge-offs (747 ) (1,135 ) (809 ) (2,691 ) Recoveries 800 275 262 1,337 Net recoveries (charge-offs) 53 (860 ) (547 ) (1,354 ) Ending balance $ 12,986 $ 5,944 $ 703 $ 19,633 |
Allowance for Credit Losses and Recorded Investment in Loans by Segment and Class [Table Text Block] | September 30, 2017 (Amounts in thousands) Loans Individually Evaluated for Impairment Allowance for Loans Individually Evaluated Loans Collectively Evaluated for Impairment Allowance for Loans Collectively Evaluated Commercial loans Construction, development, and other land $ - $ - $ 72,293 $ 1,099 Commercial and industrial 2,400 262 87,782 478 Multi-family residential 254 - 125,743 1,133 Single family non-owner occupied 1,103 69 140,150 2,308 Non-farm, non-residential 2,561 325 606,773 6,706 Agricultural - - 6,096 44 Farmland 940 50 26,957 130 Total commercial loans 7,258 706 1,065,794 11,898 Consumer real estate loans Home equity lines - - 116,468 825 Single family owner occupied 8,259 754 496,264 3,852 Owner occupied construction - - 47,034 376 Total consumer real estate loans 8,259 754 659,766 5,053 Consumer and other loans Consumer loans - - 70,695 795 Other - - 4,856 - Total consumer and other loans - - 75,551 795 Total loans, excluding PCI loans $ 15,517 $ 1,460 $ 1,801,111 $ 17,746 December 31, 2016 (Amounts in thousands) Loans Individually Evaluated for Impairment Allowance for Loans Individually Evaluated Loans Collectively Evaluated for Impairment Allowance for Loans Collectively Evaluated Commercial loans Construction, development, and other land $ - $ - $ 60,281 $ 889 Commercial and industrial - - 93,099 495 Multi-family residential 281 - 133,947 1,157 Single family non-owner occupied 1,910 31 139,711 2,721 Non-farm, non-residential 1,454 - 600,915 6,185 Agricultural - - 6,028 43 Farmland 981 18 31,145 151 Total commercial loans 4,626 49 1,065,126 11,641 Consumer real estate loans Home equity lines - - 122,000 895 Single family owner occupied 5,120 770 501,617 3,594 Owner occupied construction 336 - 44,199 228 Total consumer real estate loans 5,456 770 667,816 4,717 Consumer and other loans Consumer loans - - 77,524 759 Other - - 3,971 - Total consumer and other loans - - 81,495 759 Total loans, excluding PCI loans $ 10,082 $ 819 $ 1,814,437 $ 17,117 |
Schedule of Information Related to Purchased Credit Impaired Loans [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Recorded Investment Allowance for Loan Pools With Impairment Recorded Investment Allowance for Loan Pools With Impairment Commercial loans Waccamaw commercial $ 452 $ - $ 260 $ - Peoples commercial 4,159 - 4,491 - Other 1,011 - 1,095 - Total commercial loans 5,622 - 5,846 - Consumer real estate loans Waccamaw serviced home equity lines 13,270 - 20,178 - Waccamaw residential 1,181 - 1,320 - Peoples residential 1,020 - 1,085 12 Total consumer real estate loans 15,471 - 22,583 12 Total PCI loans $ 21,093 $ - $ 28,429 $ 12 |
Note 6 - FDIC Indemnification28
Note 6 - FDIC Indemnification Asset (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
FDIC Indemnification Asset Roll Forward [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Beginning balance $ 8,159 $ 16,431 $ 12,173 $ 20,844 Decrease in estimated losses on covered loans - - - (1 ) Increase in estimated losses on covered OREO 4 277 71 851 Reimbursable expenses from the FDIC 47 60 108 134 Net amortization (268 ) (1,369 ) (3,186 ) (3,856 ) Reimbursements from the FDIC (477 ) (1,067 ) (1,701 ) (3,640 ) Ending balance $ 7,465 $ 14,332 $ 7,465 $ 14,332 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Noninterest-bearing demand deposits $ 452,940 $ 427,705 Interest-bearing deposits: Interest-bearing demand deposits 393,244 378,339 Money market accounts 172,266 196,997 Savings deposits 337,934 326,263 Certificates of deposit 381,625 382,503 Individual retirement accounts 125,811 129,531 Total interest-bearing deposits 1,410,880 1,413,633 Total deposits $ 1,863,820 $ 1,841,338 |
Note 8 - Borrowings (Tables)
Note 8 - Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Balance Weighted Average Rate Balance Weighted Average Rate Short-term borrowings Retail repurchase agreements $ 58,783 0.07 % $ 73,005 0.07 % Long-term borrowings Wholesale repurchase agreements 25,000 3.18 % 25,000 3.18 % Long-term FHLB advances 50,000 4.00 % 65,000 4.04 % Other borrowings Subordinated debt - - 15,464 3.65 % Other debt - 244 Total borrowings $ 133,783 $ 178,713 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Wholesale Repurchase Agreements FHLB Borrowings Total (Amounts in thousands) 2017 $ - $ - $ - 2018 - - - 2019 25,000 - 25,000 2020 - - - 2021 - 50,000 50,000 2022 and thereafter - - - Total long-term borrowings $ 25,000 $ 50,000 $ 75,000 Weighted average maturity (in years) 1.41 3.27 2.65 |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | U.S. Treasury Securities U.S. Agency Securities Municipal Securities Mortgage-backed Agency Securities Total (Amounts in thousands) Overnight and continuous $ 5,240 $ 12,874 $ 37,953 $ 2,639 $ 58,706 Up to 30 days - - - - - 30 - 90 days - - - - - Greater than 90 days 9,000 3,400 - 12,677 25,077 $ 14,240 $ 16,274 $ 37,953 $ 15,316 $ 83,783 |
Note 9 - Derivative Instrumen31
Note 9 - Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | September 30, 2017 December 31, 2016 Notional or Fair Value Notional or Fair Value (Amounts in thousands) Contractual Amount Derivative Assets Derivative Liabilities Contractual Amount Derivative Assets Derivative Liabilities Derivatives designated as hedges Interest rate swaps $ 5,892 $ - $ 151 $ 4,835 $ - $ 167 Total derivatives $ 5,892 $ - $ 151 $ 4,835 $ - $ 167 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (Amounts in thousands) 2017 2016 2017 2016 Income Statement Location Derivatives designated as hedges Interest rate swaps $ 23 $ 31 $ 64 $ 86 Interest and fees on loans Total derivative expense $ 23 $ 31 $ 64 $ 86 |
Note 10 - Employee Benefit Pl32
Note 10 - Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Amounts in thousands) Service cost $ 57 $ 46 $ 173 $ 138 Interest cost 93 95 279 286 Amortization of prior service cost 57 57 171 170 Amortization of losses 8 12 23 35 Net periodic cost $ 215 $ 210 $ 646 $ 629 |
Note 11 - Accumulated Other C33
Note 11 - Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended September 30, 2017 Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ 1,302 $ (1,303 ) $ (1 ) Other comprehensive loss before reclassifications (106 ) (1 ) (107 ) Reclassified from AOCI - 41 41 Other comprehensive (loss) income, net (106 ) 40 (66 ) Ending balance $ 1,196 $ (1,263 ) $ (67 ) Three Months Ended September 30, 2016 Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (1,706 ) $ (1,311 ) $ (3,017 ) Other comprehensive income (loss) before reclassifications 465 (2 ) 463 Reclassified from AOCI 2,881 43 2,924 Other comprehensive income, net 3,346 41 3,387 Ending balance $ 1,640 $ (1,270 ) $ 370 Nine Months Ended September 30, 2017 Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (544 ) $ (1,467 ) $ (2,011 ) Other comprehensive income before reclassifications 1,329 83 1,412 Reclassified from AOCI 411 121 532 Other comprehensive income, net 1,740 204 1,944 Ending balance $ 1,196 $ (1,263 ) $ (67 ) Nine Months Ended September 30, 2016 Unrealized Gains (Losses) on Available-for-Sale Securities Employee Benefit Plans Total (Amounts in thousands) Beginning balance $ (3,885 ) $ (1,362 ) $ (5,247 ) Other comprehensive income (loss) before reclassifications 2,588 (36 ) 2,552 Reclassified from AOCI 2,937 128 3,065 Other comprehensive income, net 5,525 92 5,617 Ending balance $ 1,640 $ (1,270 ) $ 370 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, Income Statement (Amounts in thousands) 2017 2016 2017 2016 Line Item Affected Available-for-sale securities Loss (gain) recognized $ - $ (25 ) $ 657 $ 53 Net gain (loss) on sale of securities Credit-related OTTI recognized - 4,635 - 4,646 Net impairment losses recognized in earnings Reclassified out of AOCI, before tax - 4,610 657 4,699 Income before income taxes Income tax expense - 1,729 246 1,762 Income tax expense Reclassified out of AOCI, net of tax - 2,881 411 2,937 Net income Employee benefit plans Amortization of prior service cost 57 57 171 170 (1) Amortization of net actuarial benefit cost 8 12 23 35 (1) Reclassified out of AOCI, before tax 65 69 194 205 Income before income taxes Income tax expense 24 26 73 77 Income tax expense Reclassified out of AOCI, net of tax 41 43 121 128 Net income Total reclassified out of AOCI, net of tax $ 41 $ 2,924 $ 532 $ 3,065 Net income |
Note 12 - Fair Value (Tables)
Note 12 - Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | September 30, 2017 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale securities U.S. Treasury securities $ 36,964 $ - $ 36,964 $ - U.S. Agency securities 1,275 - 1,275 - Municipal securities 104,907 - 104,907 - Single issue trust preferred securities 8,962 - 8,962 - Mortgage-backed Agency securities 22,243 - 22,243 - Equity securities 73 55 18 - Total available-for-sale securities 174,424 55 174,369 - Fair value loans 5,758 - 5,758 - Deferred compensation assets 3,330 3,330 - - Deferred compensation liabilities 3,330 3,330 - - IRLCs - - - - Derivative liabilities 151 - 151 - December 31, 2016 Total Fair Value Measurements Using (Amounts in thousands) Fair Value Level 1 Level 2 Level 3 Available-for-sale securities U.S. Agency securities $ 1,345 $ - $ 1,345 $ - Municipal securities 113,331 - 113,331 - Single issue trust preferred securities 19,939 - 19,939 - Mortgage-backed Agency securities 30,891 - 30,891 - Equity securities 73 55 18 - Total available-for-sale securities 165,579 55 165,524 - Fair value loans 4,701 - 4,701 - Deferred compensation assets 3,224 3,224 - - Deferred compensation liabilities 3,224 3,224 - - Derivative liabilities 167 - 167 - |
Fair Value Measurements, Nonrecurring [Table Text Block] | September 30, 2017 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Impaired loans, non-covered $ 6,757 $ - $ - $ 6,757 OREO, non-covered 2,293 - - 2,293 OREO, covered 54 - - 54 December 31, 2016 Total Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Impaired loans, non-covered $ 4,078 $ - $ - $ 4,078 OREO, non-covered 5,109 - - 5,109 OREO, covered 265 - - 265 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Valuation Unobservable Discount Range (Weighted Average) Technique Input September 30, 2017 December 31, 2016 Impaired loans, non-covered Discounted appraisals (1) Appraisal adjustments (2) 2% to 63% (18%) 3% to 39% (17%) OREO, non-covered Discounted appraisals (1) Appraisal adjustments (2) 10% to 62% (28%) 0% to 88% (30%) OREO, covered Discounted appraisals (1) Appraisal adjustments (2) 0% to 65% (56%) 0% to 44% (40%) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2017 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 105,119 $ 105,119 $ 105,119 $ - $ - Securities available for sale 174,424 174,424 55 174,369 - Securities held to maturity 25,182 25,226 - 25,226 - Loans held for investment, net of allowance 1,818,515 1,792,719 - 5,758 1,786,961 FDIC indemnification asset 7,465 4,548 - - 4,548 Interest receivable 5,156 5,156 - 5,156 - Deferred compensation assets 3,330 3,330 3,330 - - Liabilities Demand deposits 452,940 452,940 - 452,940 - Interest-bearing demand deposits 393,244 393,244 - 393,244 - Savings deposits 510,200 510,200 - 510,200 - Time deposits 507,436 503,332 - 503,332 - Securities sold under agreements to repurchase 83,783 84,315 - 84,315 - Interest payable 1,085 1,085 - 1,085 - FHLB and other borrowings 50,000 53,402 - 53,402 - Derivative financial liabilities 151 151 - 151 - Deferred compensation liabilities 3,330 3,330 3,330 - - December 31, 2016 Carrying Fair Value Measurements Using (Amounts in thousands) Amount Fair Value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 76,307 $ 76,307 $ 76,307 $ - $ - Securities available for sale 165,579 165,579 55 165,524 - Securities held to maturity 47,133 47,266 - 47,266 - Loans held for investment, net of allowance 1,835,000 1,805,999 - 4,701 1,801,298 FDIC indemnification asset 12,173 8,112 - - 8,112 Interest receivable 5,553 5,553 - 5,553 - Deferred compensation assets 3,224 3,224 3,224 - - Liabilities Demand deposits 427,705 427,705 - 427,705 - Interest-bearing demand deposits 378,339 378,339 - 378,339 - Savings deposits 523,260 523,260 - 523,260 - Time deposits 512,034 507,917 - 507,917 - Securities sold under agreements to repurchase 98,005 98,879 - 98,879 - Interest payable 1,280 1,280 - 1,280 - FHLB and other borrowings 80,708 83,551 - 83,551 - Derivative financial liabilities 167 167 - 167 - Deferred compensation liabilities 3,224 3,224 3,224 - - |
Note 13 - Earnings Per Share (T
Note 13 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (Amounts in thousands, except share and per share data) Net income $ 7,652 $ 6,383 $ 20,272 $ 18,722 Dividends on preferred stock - - - - Net income available to common shareholders $ 7,652 $ 6,383 $ 20,272 $ 18,722 Weighted average common shares outstanding, basic 17,005,654 17,031,074 17,005,350 17,433,406 Dilutive effect of potential common shares Stock options 49,739 38,746 50,140 31,856 Restricted stock 27,336 13,706 21,468 9,949 Total dilutive effect of potential common shares 77,075 52,452 71,608 41,805 Weighted average common shares outstanding, diluted 17,082,729 17,083,526 17,076,958 17,475,211 Basic earnings per common share $ 0.45 $ 0.37 $ 1.19 $ 1.07 Diluted earnings per common share 0.45 0.37 1.19 1.07 Antidilutive potential common shares Stock options 71,592 127,789 75,868 127,789 Total potential antidilutive shares 71,592 127,789 75,868 127,789 |
Note 14 - Litigation, Commitm36
Note 14 - Litigation, Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | September 30, 2017 December 31, 2016 (Amounts in thousands) Commitments to extend credit $ 245,978 $ 261,801 Standby letters of credit and financial guarantees (1) 118,318 83,900 Total off-balance sheet risk 364,296 345,701 Reserve for unfunded commitments $ 66 $ 326 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | 9 Months Ended |
Sep. 30, 2017 | |
Number of Operating Segments | 1 |
Note 2 - Investment Securitie38
Note 2 - Investment Securities (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | $ 0 | $ 0 | $ 2 | ||
Number of Securities in Unrealized Loss Position | 45 | 45 | 82 | ||
Percentage of Combined Depreciation of Combined Reported Value of Aggregate Securities Portfolio | 0.42% | 0.42% | 1.51% | ||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $ 4,635 | $ 4,646 | |||
Available-for-sale Securities Pledged as Collateral | 99,690 | 99,690 | $ 139,750 | ||
Debt Securities [Member] | |||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | 4,640 | 0 | 4,640 | |
Equity Securities [Member] | |||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $ 0 | $ 0 | $ 0 | $ 11 |
Note 2 - Investment Securitie39
Note 2 - Investment Securities - Securities Available For Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Securities available for sale, amortized cost | $ 172,510 | $ 166,450 | |
Securities available for sale, unrealized gains | 2,759 | 2,345 | |
Securities available for sale, unrealized losses | (845) | (3,216) | |
Securities available for sale, fair value | 174,424 | 165,579 | [1] |
US Treasury Securities [Member] | |||
Securities available for sale, amortized cost | 36,973 | ||
Securities available for sale, unrealized gains | |||
Securities available for sale, unrealized losses | (9) | ||
Securities available for sale, fair value | 36,964 | ||
US Government Agencies Debt Securities [Member] | |||
Securities available for sale, amortized cost | 1,254 | 1,342 | |
Securities available for sale, unrealized gains | 21 | 3 | |
Securities available for sale, unrealized losses | |||
Securities available for sale, fair value | 1,275 | 1,345 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Securities available for sale, amortized cost | 102,347 | 111,659 | |
Securities available for sale, unrealized gains | 2,648 | 2,258 | |
Securities available for sale, unrealized losses | (88) | (586) | |
Securities available for sale, fair value | 104,907 | 113,331 | |
Single Issue Trust Preferred Securities [Member] | |||
Securities available for sale, amortized cost | 9,363 | 22,104 | |
Securities available for sale, unrealized gains | |||
Securities available for sale, unrealized losses | (401) | (2,165) | |
Securities available for sale, fair value | 8,962 | 19,939 | |
Mortgage-backed Agency Securities [Member] | |||
Securities available for sale, amortized cost | 22,518 | 31,290 | |
Securities available for sale, unrealized gains | 72 | 66 | |
Securities available for sale, unrealized losses | (347) | (465) | |
Securities available for sale, fair value | 22,243 | 30,891 | |
Equity Securities [Member] | |||
Securities available for sale, amortized cost | 55 | 55 | |
Securities available for sale, unrealized gains | 18 | 18 | |
Securities available for sale, unrealized losses | |||
Securities available for sale, fair value | $ 73 | $ 73 | |
[1] | Derived from audited financial statements |
Note 2 - Investment Securitie40
Note 2 - Investment Securities - Securities Held to Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Securities held to maturity, amortized cost | $ 25,182 | $ 47,133 | [1] |
Securities held to maturity, unrealized gains | 44 | 135 | |
Securities held to maturity, unrealized losses | 0 | (2) | |
Securities held to maturity, fair value | 25,226 | 47,266 | |
US Government Agencies Debt Securities [Member] | |||
Securities held to maturity, amortized cost | 17,949 | 36,741 | |
Securities held to maturity, unrealized gains | 31 | 124 | |
Securities held to maturity, unrealized losses | |||
Securities held to maturity, fair value | 17,980 | 36,865 | |
Corporate Debt Securities [Member] | |||
Securities held to maturity, amortized cost | 7,233 | 10,392 | |
Securities held to maturity, unrealized gains | 13 | 11 | |
Securities held to maturity, unrealized losses | (2) | ||
Securities held to maturity, fair value | $ 7,246 | $ 10,401 | |
[1] | Derived from audited financial statements |
Note 2 - Investment Securitie41
Note 2 - Investment Securities - Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Securities available for sale, due within one year, amortized cost | $ 37,288 | ||
Securities available for sale, due within one year, fair value | 37,279 | ||
Securities available for sale, due after one year but within five years, amortized cost | 5,617 | ||
Securities available for sale, due after one year but within five years, fair value | 5,734 | ||
Securities available for sale, due after five years but within ten years, amortized cost | 96,693 | ||
Securities available for sale, due after five years but within ten years, fair value | 98,602 | ||
Securities available for sale, due after ten years, amortized cost | 10,339 | ||
Securities available for sale, due after ten years, fair value | 10,493 | ||
Securities available for sale, single maturity date, amortized cost | 149,937 | ||
Securities available for sale, single maturity date, fair value | 152,108 | ||
Securities available for sale, amortized cost | 172,510 | $ 166,450 | |
Securities available for sale | 174,424 | 165,579 | [1] |
Securities held to maturity, due within one year, amortized cost | |||
Securities held to maturity, due within one year, fair value | |||
Securities held to maturity, due after one year but within five years, amortized cost | 25,182 | ||
Securities held to maturity, due after one year but within five years, fair value | 25,226 | ||
Securities held to maturity, due after five years but within ten years, amortized cost | |||
Securities held to maturity, due after five years but within ten years, fair value | |||
Securities held to maturity, due after ten years, amortized cost | |||
Securities held to maturity, due after ten years, fair value | |||
Securities held to maturity | 25,182 | 47,133 | [1] |
Securities held to maturity, fair value | 25,226 | 47,266 | |
Collateralized Mortgage Backed Securities [Member] | |||
Securities available for sale, no single maturity date, amortized cost | 22,518 | ||
Securities available for sale, no single maturity date, fair value | 22,243 | ||
Equity Securities [Member] | |||
Securities available for sale, no single maturity date, amortized cost | 55 | ||
Securities available for sale, no single maturity date, fair value | 73 | ||
Securities available for sale, amortized cost | 55 | 55 | |
Securities available for sale | $ 73 | $ 73 | |
[1] | Derived from audited financial statements |
Note 2 - Investment Securitie42
Note 2 - Investment Securities - Available For Sale Securities in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Securities available for sale, less than 12 months, fair value | $ 54,282 | $ 37,086 |
Securities available for sale, less than 12 months, unrealized losses | (120) | (693) |
Securities available for sale, 12 months or longer, fair value | 18,670 | 32,505 |
Securities available for sale, 12 months or longer, unrealized losses | (725) | (2,523) |
Securities available for sale, total fair value | 72,952 | 69,591 |
Securities available for sale, total unrealized losses | (845) | (3,216) |
US Treasury Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 36,963 | |
Securities available for sale, less than 12 months, unrealized losses | (9) | |
Securities available for sale, 12 months or longer, fair value | ||
Securities available for sale, 12 months or longer, unrealized losses | ||
Securities available for sale, total fair value | 36,963 | |
Securities available for sale, total unrealized losses | (9) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 9,421 | 24,252 |
Securities available for sale, less than 12 months, unrealized losses | (52) | (527) |
Securities available for sale, 12 months or longer, fair value | 1,427 | 715 |
Securities available for sale, 12 months or longer, unrealized losses | (36) | (59) |
Securities available for sale, total fair value | 10,848 | 24,967 |
Securities available for sale, total unrealized losses | (88) | (586) |
Single Issue Trust Preferred Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | ||
Securities available for sale, less than 12 months, unrealized losses | ||
Securities available for sale, 12 months or longer, fair value | 8,962 | 19,939 |
Securities available for sale, 12 months or longer, unrealized losses | (401) | (2,165) |
Securities available for sale, total fair value | 8,962 | 19,939 |
Securities available for sale, total unrealized losses | (401) | (2,165) |
Mortgage-backed Agency Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 7,898 | 12,834 |
Securities available for sale, less than 12 months, unrealized losses | (59) | (166) |
Securities available for sale, 12 months or longer, fair value | 8,281 | 11,851 |
Securities available for sale, 12 months or longer, unrealized losses | (288) | (299) |
Securities available for sale, total fair value | 16,179 | 24,685 |
Securities available for sale, total unrealized losses | $ (347) | $ (465) |
Note 2 - Investment Securitie43
Note 2 - Investment Securities - Held to Maturity Securities in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Securities held to maturity, less than 12 months fair value | $ 3,533 | |
Securities held to maturity, less than 12 months unrealized losses | (2) | |
Securities held to maturity, 12 months or longer fair value | ||
Securities held to maturity, 12 months or longer unrealized losses | ||
Securities held to maturity, total fair value | 3,533 | |
Securities held to maturity, unrealized losses | $ 0 | (2) |
Corporate Debt Securities [Member] | ||
Securities held to maturity, less than 12 months fair value | 3,533 | |
Securities held to maturity, less than 12 months unrealized losses | (2) | |
Securities held to maturity, 12 months or longer fair value | ||
Securities held to maturity, 12 months or longer unrealized losses | ||
Securities held to maturity, total fair value | 3,533 | |
Securities held to maturity, unrealized losses | $ (2) |
Note 2 - Investment Securitie44
Note 2 - Investment Securities - Gross Realized Gains and Losses from Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Gross realized gains | $ 203 | $ 344 | ||
Gross realized losses | (178) | (657) | (397) | |
Net gain (loss) on sale of securities | $ 25 | $ (657) | $ (53) |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Bank Overdrafts | $ 1,450 | $ 1,410 |
Deferred Loans Fees | $ 4,480 | $ 5,340 |
Note 3 - Loans - Loans by Class
Note 3 - Loans - Loans by Class (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Non-covered loans | $ 1,806,434 | $ 1,795,954 | [1] |
Non-covered loans, percent | 98.30% | 96.92% | |
Covered loans | $ 31,287 | $ 56,994 | |
Covered loans, percent | 1.70% | 3.08% | |
Total loans held for investment, net of unearned income | $ 1,837,721 | $ 1,852,948 | |
Total loans held for investment, net of unearned income, percent | 100.00% | 100.00% | |
Commercial Portfolio Segment [Member] | |||
Non-covered loans | $ 1,079,719 | $ 1,062,751 | |
Non-covered loans, percent | 58.76% | 57.35% | |
Covered loans | $ 342 | $ 14,369 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | $ 72,952 | $ 56,948 | |
Non-covered loans, percent | 3.97% | 3.07% | |
Covered loans | $ 40 | $ 4,570 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | $ 90,184 | $ 92,204 | |
Non-covered loans, percent | 4.91% | 4.98% | |
Covered loans | $ 895 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | $ 125,997 | $ 134,228 | |
Non-covered loans, percent | 6.86% | 7.24% | |
Covered loans | $ 8 | ||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | $ 143,213 | $ 142,965 | |
Non-covered loans, percent | 7.79% | 7.72% | |
Covered loans | $ 292 | $ 962 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | $ 613,380 | $ 598,674 | |
Non-covered loans, percent | 33.38% | 32.31% | |
Covered loans | $ 10 | $ 7,512 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | $ 6,096 | $ 6,003 | |
Non-covered loans, percent | 0.33% | 0.32% | |
Covered loans | $ 25 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | $ 27,897 | $ 31,729 | |
Non-covered loans, percent | 1.52% | 1.71% | |
Covered loans | $ 397 | ||
Consumer Real Estate Portfolio Segment [Member] | |||
Non-covered loans | $ 651,164 | $ 651,787 | |
Non-covered loans, percent | 35.43% | 35.18% | |
Covered loans | $ 30,945 | $ 42,546 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | $ 102,888 | $ 106,361 | |
Non-covered loans, percent | 5.60% | 5.74% | |
Covered loans | $ 26,850 | $ 35,817 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | $ 501,242 | $ 500,891 | |
Non-covered loans, percent | 27.27% | 27.03% | |
Covered loans | $ 4,095 | $ 6,729 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | $ 47,034 | $ 44,535 | |
Non-covered loans, percent | 2.56% | 2.41% | |
Covered loans | |||
Consumer and Other Portfolio Segment [Member] | |||
Non-covered loans | $ 75,551 | $ 81,416 | |
Non-covered loans, percent | 4.11% | 4.39% | |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Non-covered loans | $ 70,695 | $ 77,445 | |
Non-covered loans, percent | 3.85% | 4.18% | |
Covered loans | $ 79 | ||
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered loans | $ 4,856 | $ 3,971 | |
Non-covered loans, percent | 0.26% | 0.21% | |
[1] | Derived from audited financial statements |
Note 3 - Loans - Covered Loans
Note 3 - Loans - Covered Loans by Class (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Covered loans | $ 31,287 | $ 56,994 |
Commercial Portfolio Segment [Member] | ||
Covered loans | 342 | 14,369 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Covered loans | 40 | 4,570 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Covered loans | 895 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Covered loans | 8 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Covered loans | 292 | 962 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Covered loans | 10 | 7,512 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Covered loans | 25 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Covered loans | 397 | |
Consumer Real Estate Portfolio Segment [Member] | ||
Covered loans | 30,945 | 42,546 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Covered loans | 26,850 | 35,817 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Covered loans | 4,095 | 6,729 |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | ||
Covered loans | $ 79 |
Note 3 - Loans - PCI loans (Det
Note 3 - Loans - PCI loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
PCI loans, unpaid principal balance | [1] | $ 43,454 | $ 29,088 |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
PCI loans, recorded investment | 21,093 | 28,429 | |
PCI loans, unpaid principal balance | 43,785 | 55,548 | |
Peoples Bank of Virginia [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
PCI loans, recorded investment | 5,179 | 5,576 | |
PCI loans, unpaid principal balance | 8,328 | 9,397 | |
Waccamaw Bank [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
PCI loans, recorded investment | 14,903 | 21,758 | |
PCI loans, unpaid principal balance | 34,420 | 45,030 | |
Other Receivables [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
PCI loans, recorded investment | 1,011 | 1,095 | |
PCI loans, unpaid principal balance | $ 1,037 | $ 1,121 | |
[1] | Includes loans totaling $20.07 million as of September 30, 2017, and $16.89 million as of December 31, 2016, that do not meet the Company's evaluation threshold for individual impairment and are therefore collectively evaluated for impairment |
Note 3 - Loans - Activity in Ac
Note 3 - Loans - Activity in Accretable Yield on PCI loans (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | ||
Beginning balance | $ 26,226 | $ 29,698 | |
Accretion | (5,659) | (5,390) | |
Reclassifications from nonaccretable difference(1) | [1] | 3,307 | 1,079 |
Other changes, net | (686) | 1,778 | |
Ending balance | 23,188 | 27,165 | |
Peoples Bank of Virginia [Member] | |||
Beginning balance | 4,392 | 3,589 | |
Accretion | (969) | (982) | |
Reclassifications from nonaccretable difference(1) | [1] | 782 | 231 |
Other changes, net | (375) | 1,774 | |
Ending balance | 3,830 | 4,612 | |
Waccamaw Bank [Member] | |||
Beginning balance | 21,834 | 26,109 | |
Accretion | (4,690) | (4,408) | |
Reclassifications from nonaccretable difference(1) | [1] | 2,525 | 848 |
Other changes, net | (311) | 4 | |
Ending balance | $ 19,358 | $ 22,553 | |
[1] | Represents changes attributable to expected loss assumptions |
Note 4 - Credit Quality (Detail
Note 4 - Credit Quality (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Percentage of Loan Loss Covered by FDIC | 80.00% | ||
Financing Receivable, Collectively Evaluated for Impairment | $ 1,801,111 | $ 1,814,437 | |
Financing Receivable, Modifications, Recorded Investment | 9,759 | 14,236 | |
Restructured Loans, Reserves | 250 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | $ 0 | |
Impaired Loans [Member] | |||
Financing Receivable, Collectively Evaluated for Impairment | 20,070 | 16,890 | |
Non-covered Loans [Member] | |||
Financing Receivable, Modifications, Recorded Investment | 0 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | ||
Covered Loans [Member] | |||
Financing Receivable, Modifications, Recorded Investment | $ 0 | $ 0 |
Note 4 - Credit Quality - Loans
Note 4 - Credit Quality - Loans by Credit Quality (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Non-covered loans | $ 1,806,434 | $ 1,795,954 | [1] |
Covered loans | 31,287 | 56,994 | |
Total loans | 1,837,721 | 1,852,948 | |
Commercial Portfolio Segment [Member] | |||
Non-covered loans | 1,079,719 | 1,062,751 | |
Covered loans | 342 | 14,369 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 72,952 | 56,948 | |
Covered loans | 40 | 4,570 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 90,184 | 92,204 | |
Covered loans | 895 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 125,997 | 134,228 | |
Covered loans | 8 | ||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 143,213 | 142,965 | |
Covered loans | 292 | 962 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 613,380 | 598,674 | |
Covered loans | 10 | 7,512 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | 6,096 | 6,003 | |
Covered loans | 25 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | 27,897 | 31,729 | |
Covered loans | 397 | ||
Consumer Real Estate Portfolio Segment [Member] | |||
Non-covered loans | 651,164 | 651,787 | |
Covered loans | 30,945 | 42,546 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 102,888 | 106,361 | |
Covered loans | 26,850 | 35,817 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 501,242 | 500,891 | |
Covered loans | 4,095 | 6,729 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 47,034 | 44,535 | |
Consumer and Other Portfolio Segment [Member] | |||
Non-covered loans | 75,551 | 81,416 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Non-covered loans | 70,695 | 77,445 | |
Covered loans | 79 | ||
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered loans | 4,856 | 3,971 | |
Pass [Member] | |||
Non-covered loans | 1,724,543 | 1,719,488 | |
Covered loans | 15,649 | 29,989 | |
Total loans | 1,740,192 | 1,749,477 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 69,257 | 55,188 | |
Covered loans | 2,768 | ||
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 85,368 | 87,581 | |
Covered loans | 882 | ||
Pass [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 119,399 | 126,468 | |
Covered loans | |||
Pass [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 132,000 | 131,934 | |
Covered loans | 271 | 796 | |
Pass [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 593,809 | 579,134 | |
Covered loans | 6,423 | ||
Pass [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | 5,743 | 5,839 | |
Covered loans | 25 | ||
Pass [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | 25,097 | 28,887 | |
Covered loans | 132 | ||
Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 100,375 | 104,033 | |
Covered loans | 12,242 | 14,283 | |
Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 471,378 | 475,402 | |
Covered loans | 3,136 | 4,601 | |
Pass [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 46,802 | 43,833 | |
Pass [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Non-covered loans | 70,459 | 77,218 | |
Covered loans | 79 | ||
Pass [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered loans | 4,856 | 3,971 | |
Special Mention [Member] | |||
Non-covered loans | 35,452 | 34,062 | |
Covered loans | 14,304 | 23,094 | |
Total loans | 49,756 | 57,156 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 2,791 | 980 | |
Covered loans | 39 | 803 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 1,844 | 3,483 | |
Covered loans | |||
Special Mention [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 5,882 | 6,992 | |
Covered loans | |||
Special Mention [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 6,839 | 5,466 | |
Covered loans | 63 | ||
Special Mention [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 11,126 | 10,236 | |
Covered loans | 537 | ||
Special Mention [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | 235 | 164 | |
Covered loans | |||
Special Mention [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | 153 | 1,223 | |
Covered loans | |||
Special Mention [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 850 | 871 | |
Covered loans | 13,840 | 20,763 | |
Special Mention [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 5,705 | 4,636 | |
Covered loans | 425 | 928 | |
Special Mention [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | |||
Special Mention [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Non-covered loans | 27 | 11 | |
Covered loans | |||
Special Mention [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered loans | |||
Substandard [Member] | |||
Non-covered loans | 46,237 | 41,727 | |
Covered loans | 1,334 | 3,911 | |
Total loans | 47,571 | 45,638 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | 904 | 780 | |
Covered loans | 1 | 999 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 2,972 | 1,137 | |
Covered loans | 13 | ||
Substandard [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | 716 | 768 | |
Covered loans | 8 | ||
Substandard [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | 4,374 | 5,565 | |
Covered loans | 21 | 103 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 8,243 | 9,102 | |
Covered loans | 10 | 552 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | 118 | ||
Covered loans | |||
Substandard [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | 2,647 | 1,619 | |
Covered loans | 265 | ||
Substandard [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | 1,663 | 1,457 | |
Covered loans | 768 | 771 | |
Substandard [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 24,159 | 20,381 | |
Covered loans | 534 | 1,200 | |
Substandard [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | 232 | 702 | |
Substandard [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Non-covered loans | 209 | 216 | |
Covered loans | |||
Substandard [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered loans | |||
Doubtful [Member] | |||
Non-covered loans | 202 | 674 | |
Covered loans | |||
Total loans | 202 | 674 | |
Doubtful [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | |||
Covered loans | |||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | |||
Covered loans | |||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | |||
Covered loans | |||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | |||
Covered loans | |||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | 202 | 202 | |
Covered loans | |||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | |||
Covered loans | |||
Doubtful [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | |||
Covered loans | |||
Doubtful [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | |||
Covered loans | |||
Doubtful [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | 472 | ||
Covered loans | |||
Doubtful [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | |||
Doubtful [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Non-covered loans | |||
Covered loans | |||
Doubtful [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | |||
Non-covered loans | 3 | ||
Covered loans | |||
Total loans | 3 | ||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered loans | 3 | ||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Non-covered loans | |||
Covered loans | |||
Unlikely to be Collected Financing Receivable [Member] | Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered loans | |||
[1] | Derived from audited financial statements |
Note 4 - Credit Quality - Recor
Note 4 - Credit Quality - Recorded Investment and Interest Income Recognized on Impaired Loans Excluding Purchased Credit Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Impaired loans with no related allowance, recorded investment | $ 27,373 | $ 22,074 | |
Impaired loans with no related allowance, unpaid principal balance | 35,211 | 24,133 | |
Impaired loans with a related allowance, recorded investment | 8,217 | 4,899 | |
Impaired loans with a related allowance, unpaid principal balance | 8,243 | 4,955 | |
Impaired loans, related allowance | [1] | 1,460 | 819 |
Total impaired loans, recorded investment | [1] | 35,590 | 26,973 |
Total impaired loans, unpaid principal balance | [1] | 43,454 | 29,088 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Impaired loans with no related allowance, recorded investment | 662 | 33 | |
Impaired loans with no related allowance, unpaid principal balance | 999 | 35 | |
Impaired loans with a related allowance, recorded investment | |||
Impaired loans with a related allowance, unpaid principal balance | |||
Impaired loans, related allowance | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Impaired loans with no related allowance, recorded investment | 146 | 346 | |
Impaired loans with no related allowance, unpaid principal balance | 1,093 | 383 | |
Impaired loans with a related allowance, recorded investment | 2,400 | ||
Impaired loans with a related allowance, unpaid principal balance | 2,400 | ||
Impaired loans, related allowance | 262 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Impaired loans with no related allowance, recorded investment | 381 | 294 | |
Impaired loans with no related allowance, unpaid principal balance | 836 | 369 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Impaired loans with no related allowance, recorded investment | 2,485 | 3,084 | |
Impaired loans with no related allowance, unpaid principal balance | 3,891 | 3,334 | |
Impaired loans with a related allowance, recorded investment | 771 | 351 | |
Impaired loans with a related allowance, unpaid principal balance | 772 | 351 | |
Impaired loans, related allowance | 69 | 31 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Impaired loans with no related allowance, recorded investment | 3,905 | 3,829 | |
Impaired loans with no related allowance, unpaid principal balance | 6,239 | 4,534 | |
Impaired loans with a related allowance, recorded investment | 865 | ||
Impaired loans with a related allowance, unpaid principal balance | 874 | ||
Impaired loans, related allowance | 325 | ||
Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Impaired loans with no related allowance, recorded investment | 118 | ||
Impaired loans with no related allowance, unpaid principal balance | 122 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Impaired loans with no related allowance, recorded investment | 990 | 1,161 | |
Impaired loans with no related allowance, unpaid principal balance | 1,037 | 1,188 | |
Impaired loans with a related allowance, recorded investment | 410 | 430 | |
Impaired loans with a related allowance, unpaid principal balance | 418 | 430 | |
Impaired loans, related allowance | 50 | 18 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Impaired loans with no related allowance, recorded investment | 1,624 | 913 | |
Impaired loans with no related allowance, unpaid principal balance | 1,766 | 968 | |
Impaired loans with a related allowance, recorded investment | |||
Impaired loans with a related allowance, unpaid principal balance | |||
Impaired loans, related allowance | |||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Impaired loans with no related allowance, recorded investment | 16,768 | 11,779 | |
Impaired loans with no related allowance, unpaid principal balance | 18,932 | 12,630 | |
Impaired loans with a related allowance, recorded investment | 3,771 | 4,118 | |
Impaired loans with a related allowance, unpaid principal balance | 3,779 | 4,174 | |
Impaired loans, related allowance | 754 | 770 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Impaired loans with no related allowance, recorded investment | 233 | 573 | |
Impaired loans with no related allowance, unpaid principal balance | 233 | 589 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Impaired loans with no related allowance, recorded investment | 61 | 62 | |
Impaired loans with no related allowance, unpaid principal balance | $ 63 | $ 103 | |
[1] | Includes loans totaling $20.07 million as of September 30, 2017, and $16.89 million as of December 31, 2016, that do not meet the Company's evaluation threshold for individual impairment and are therefore collectively evaluated for impairment |
Note 4 - Credit Quality - Avera
Note 4 - Credit Quality - Average Annual Recorded Investment and Interest Income Recognized on Impaired Loans Excluding Purchased Credit Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Impaired loans with no related allowance, interest income recognized | $ 291 | $ 305 | $ 606 | $ 754 |
Impaired loans with no related allowance, average recorded investment | 31,306 | 29,803 | 26,215 | 29,170 |
Impaired loans with a related allowance, interest income recognized | 82 | 74 | 231 | 324 |
Impaired loans with a related allowance, average recorded investment | 8,393 | 9,470 | 8,264 | 10,342 |
Total impaired loans, interest income recognized | 373 | 379 | 837 | 1,078 |
Total impaired loans, average recorded investment | 39,699 | 39,273 | 34,479 | 39,512 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 32 | 22 | 32 | 22 |
Impaired loans with no related allowance, average recorded investment | 907 | 600 | 309 | 447 |
Impaired loans with a related allowance, interest income recognized | ||||
Impaired loans with a related allowance, average recorded investment | 143 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 5 | 6 | 8 | 10 |
Impaired loans with no related allowance, average recorded investment | 754 | 1,029 | 468 | 738 |
Impaired loans with a related allowance, interest income recognized | 50 | 103 | ||
Impaired loans with a related allowance, average recorded investment | 2,516 | 1,727 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 15 | 3 | 15 | |
Impaired loans with no related allowance, average recorded investment | 509 | 562 | 474 | 309 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 11 | 91 | 88 | 107 |
Impaired loans with no related allowance, average recorded investment | 3,304 | 3,498 | 3,313 | 3,035 |
Impaired loans with a related allowance, interest income recognized | 8 | 5 | 21 | 18 |
Impaired loans with a related allowance, average recorded investment | 778 | 682 | 488 | 572 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 68 | 65 | 93 | 307 |
Impaired loans with no related allowance, average recorded investment | 5,244 | 8,930 | 3,766 | 10,186 |
Impaired loans with a related allowance, interest income recognized | 45 | 15 | 215 | |
Impaired loans with a related allowance, average recorded investment | 872 | 4,658 | 964 | 5,108 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 4 | 4 | ||
Impaired loans with no related allowance, average recorded investment | 127 | 127 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 17 | 5 | 17 | 9 |
Impaired loans with no related allowance, average recorded investment | 1,003 | 204 | 1,004 | 186 |
Impaired loans with a related allowance, interest income recognized | ||||
Impaired loans with a related allowance, average recorded investment | 413 | 275 | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 15 | 6 | 35 | 21 |
Impaired loans with no related allowance, average recorded investment | 1,683 | 1,157 | 1,259 | 1,318 |
Impaired loans with a related allowance, interest income recognized | ||||
Impaired loans with a related allowance, average recorded investment | 139 | |||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 137 | 91 | 317 | 254 |
Impaired loans with no related allowance, average recorded investment | 17,478 | 13,175 | 15,209 | 12,436 |
Impaired loans with a related allowance, interest income recognized | 24 | 24 | 92 | 91 |
Impaired loans with a related allowance, average recorded investment | 3,814 | 4,130 | 4,527 | 4,547 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 1 | 2 | 6 | 7 |
Impaired loans with no related allowance, average recorded investment | 235 | 585 | 234 | 470 |
Impaired loans with a related allowance, interest income recognized | ||||
Impaired loans with a related allowance, average recorded investment | 1 | 115 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | ||||
Impaired loans with no related allowance, interest income recognized | 1 | 2 | 3 | 2 |
Impaired loans with no related allowance, average recorded investment | $ 62 | $ 63 | $ 52 | $ 45 |
Note 4 - Credit Quality - Infor
Note 4 - Credit Quality - Information on Impaired PCI Loan Pools (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Unpaid principal balance | $ 35,211 | $ 35,211 | $ 24,133 | ||
Recorded investment | 27,373 | 27,373 | 22,074 | ||
Interest income recognized | 373 | $ 379 | 837 | $ 1,078 | |
Average recorded investment | 31,306 | 29,803 | 26,215 | 29,170 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Unpaid principal balance | 1,086 | ||||
Recorded investment | 1,085 | ||||
Allowance for loan losses related to PCI loan pools | $ 12 | ||||
Impaired PCI loan pools | 1 | ||||
Interest income recognized | 12 | $ 20 | 130 | ||
Average recorded investment | $ 1,139 | $ 705 | $ 2,195 |
Note 4 - Credit Quality - Nonac
Note 4 - Credit Quality - Nonaccrual Loans by Loan Class (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Total nonaccrual loans | $ 19,362 | $ 16,462 |
Non-covered Loans [Member] | ||
Total nonaccrual loans | 18,942 | 15,854 |
Covered Loans [Member] | ||
Total nonaccrual loans | 420 | 608 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Total nonaccrual loans | 126 | 104 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 126 | 72 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 32 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Total nonaccrual loans | 118 | 345 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 118 | 332 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 13 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Total nonaccrual loans | 330 | 294 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 330 | 294 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Total nonaccrual loans | 1,646 | 1,266 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 1,626 | 1,242 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 20 | 24 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Total nonaccrual loans | 3,352 | 3,325 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 3,352 | 3,295 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 30 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Total nonaccrual loans | 118 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 118 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Total nonaccrual loans | 870 | 1,591 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 870 | 1,591 |
Commercial Portfolio Segment [Member] | Farmland [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Total nonaccrual loans | 1,178 | 1,105 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 828 | 705 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 350 | 400 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Total nonaccrual loans | 11,567 | 8,033 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 11,517 | 7,924 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | 50 | 109 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Total nonaccrual loans | 336 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 336 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Covered Loans [Member] | ||
Total nonaccrual loans | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | ||
Total nonaccrual loans | 57 | 63 |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Non-covered Loans [Member] | ||
Total nonaccrual loans | 57 | 63 |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Covered Loans [Member] | ||
Total nonaccrual loans |
Note 4 - Credit Quality - Aging
Note 4 - Credit Quality - Aging of Past Due Loans by Loan Class (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Past due | $ 19,773 | $ 21,478 | |
Current loans | 1,817,948 | 1,831,470 | |
Non-covered | 1,806,434 | 1,795,954 | [1] |
Covered | 31,287 | 56,994 | |
Total loans | 1,837,721 | 1,852,948 | |
Non-covered Loans [Member] | |||
Past due | 19,264 | 20,543 | |
Current loans | 1,787,170 | 1,775,411 | |
Covered Loans [Member] | |||
Past due | 509 | 935 | |
Current loans | 30,778 | 56,059 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due | 6,803 | 9,355 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 6,440 | 8,699 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 363 | 656 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due | 2,415 | 3,990 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 2,415 | 3,844 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 146 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due | 10,555 | 8,133 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 10,409 | 8,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 146 | 133 | |
Commercial Portfolio Segment [Member] | |||
Non-covered | 1,079,719 | 1,062,751 | |
Covered | 342 | 14,369 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | |||
Non-covered | 72,952 | 56,948 | |
Covered | 40 | 4,570 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Non-covered Loans [Member] | |||
Past due | 25 | 55 | |
Current loans | 72,927 | 56,893 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Covered Loans [Member] | |||
Past due | 466 | ||
Current loans | 40 | 4,104 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 25 | 33 | |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 434 | ||
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 5 | ||
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 17 | ||
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 32 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Non-covered | 90,184 | 92,204 | |
Covered | 895 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Non-covered Loans [Member] | |||
Past due | 309 | 353 | |
Current loans | 89,875 | 91,851 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Covered Loans [Member] | |||
Past due | |||
Current loans | 895 | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 226 | 174 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 36 | 30 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 47 | 149 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | |||
Non-covered | 125,997 | 134,228 | |
Covered | 8 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Non-covered Loans [Member] | |||
Past due | 526 | 444 | |
Current loans | 125,471 | 133,784 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Covered Loans [Member] | |||
Past due | |||
Current loans | 8 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 341 | 163 | |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 185 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 281 | ||
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Non-covered | 143,213 | 142,965 | |
Covered | 292 | 962 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Non-covered Loans [Member] | |||
Past due | 1,452 | 2,296 | |
Current loans | 141,761 | 140,669 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Covered Loans [Member] | |||
Past due | 72 | 24 | |
Current loans | 220 | 938 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 405 | 1,302 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 72 | 24 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 186 | 159 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 861 | 835 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Non-covered | 613,380 | 598,674 | |
Covered | 10 | 7,512 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Non-covered Loans [Member] | |||
Past due | 3,163 | 3,736 | |
Current loans | 610,217 | 594,938 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Covered Loans [Member] | |||
Past due | 32 | ||
Current loans | 10 | 7,480 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 523 | 1,235 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 32 | ||
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 17 | 332 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 2,623 | 2,169 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Agricultural [Member] | |||
Non-covered | 6,096 | 6,003 | |
Covered | 25 | ||
Commercial Portfolio Segment [Member] | Agricultural [Member] | Non-covered Loans [Member] | |||
Past due | 6 | 5 | |
Current loans | 6,090 | 5,998 | |
Commercial Portfolio Segment [Member] | Agricultural [Member] | Covered Loans [Member] | |||
Past due | |||
Current loans | 25 | ||
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 6 | ||
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 5 | ||
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Farmland [Member] | |||
Non-covered | 27,897 | 31,729 | |
Covered | 397 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | Non-covered Loans [Member] | |||
Past due | 1,602 | 1,132 | |
Current loans | 26,295 | 30,597 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | Covered Loans [Member] | |||
Past due | |||
Current loans | 397 | ||
Commercial Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 849 | 224 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 410 | 343 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Commercial Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 343 | 565 | |
Commercial Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Consumer Real Estate Portfolio Segment [Member] | |||
Non-covered | 651,164 | 651,787 | |
Covered | 30,945 | 42,546 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Non-covered | 102,888 | 106,361 | |
Covered | 26,850 | 35,817 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Non-covered Loans [Member] | |||
Past due | 645 | 872 | |
Current loans | 102,243 | 105,489 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Covered Loans [Member] | |||
Past due | 409 | 316 | |
Current loans | 26,441 | 35,501 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 242 | 78 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 291 | 108 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 105 | 136 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 146 | ||
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 298 | 658 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 118 | 62 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Non-covered | 501,242 | 500,891 | |
Covered | 4,095 | 6,729 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Non-covered Loans [Member] | |||
Past due | 10,746 | 10,496 | |
Current loans | 490,496 | 490,395 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Covered Loans [Member] | |||
Past due | 28 | 97 | |
Current loans | 4,067 | 6,632 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 3,133 | 4,777 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 58 | ||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 1,414 | 2,408 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 6,199 | 3,311 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | 28 | 39 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Non-covered | 47,034 | 44,535 | |
Covered | |||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Non-covered Loans [Member] | |||
Past due | 330 | 678 | |
Current loans | 46,704 | 43,857 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Covered Loans [Member] | |||
Past due | |||
Current loans | |||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 330 | 342 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 336 | ||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | |||
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Consumer and Other Portfolio Segment [Member] | |||
Non-covered | 75,551 | 81,416 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | |||
Non-covered | 70,695 | 77,445 | |
Covered | 79 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Non-covered Loans [Member] | |||
Past due | 460 | 476 | |
Current loans | 70,235 | 76,969 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Covered Loans [Member] | |||
Past due | |||
Current loans | 79 | ||
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 360 | 371 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 62 | 90 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | 38 | 15 | |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Covered Loans [Member] | |||
Past due | |||
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | |||
Non-covered | 4,856 | 3,971 | |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Non-covered Loans [Member] | |||
Past due | |||
Current loans | 4,856 | 3,971 | |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | |||
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | |||
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-covered Loans [Member] | |||
Past due | |||
[1] | Derived from audited financial statements |
Note 4 - Credit Quality - Loa57
Note 4 - Credit Quality - Loans Modified as Troubled Debt Restructurings by Loan Class and Accrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Nonaccrual | [1] | $ 1,517 | $ 1,284 |
Accrual | 8,242 | 12,952 | |
TDRs | 9,759 | 14,236 | |
Allowance for loan losses related to TDRs | 707 | 670 | |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | |||
Nonaccrual | [1] | 33 | 38 |
Accrual | 875 | 892 | |
TDRs | 908 | 930 | |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | |||
Nonaccrual | [1] | ||
Accrual | 295 | 4,160 | |
TDRs | 295 | 4,160 | |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | |||
Nonaccrual | [1] | ||
Accrual | 148 | 158 | |
TDRs | 148 | 158 | |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | |||
Nonaccrual | [1] | 1,484 | 905 |
Accrual | 6,690 | 7,503 | |
TDRs | 8,174 | 8,408 | |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | |||
Nonaccrual | [1] | 341 | |
Accrual | 234 | 239 | |
TDRs | $ 234 | $ 580 | |
[1] | Nonaccrual TDRs are included in total nonaccrual loans disclosed in the nonaccrual table above. |
Note 4 - Credit Quality - Balan
Note 4 - Credit Quality - Balance and Interest Income Related to Impaired Loan Pools (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest income recognized | $ 373 | $ 379 | $ 837 | $ 1,078 |
Troubled Debt Restructurings [Member] | Purchased Credit Impaired Loans [Member] | ||||
Interest income recognized | $ 74 | $ 143 | $ 159 | $ 296 |
Note 4 - Credit Quality - Loa59
Note 4 - Credit Quality - Loans Modified as Trouble Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | |
Total contracts | 1 | 3 | 1 | |
Pre-modification recorded investment | $ 42 | $ 141 | $ 115 | |
Post-modification recorded investment | $ 42 | $ 141 | $ 115 | |
Below Market Interest Rate [Member] | Single Family Owner Occupied [Member] | ||||
Total contracts | 1 | 3 | 1 | |
Pre-modification recorded investment | $ 42 | $ 141 | $ 115 | |
Post-modification recorded investment | $ 42 | $ 141 | $ 115 |
Note 4 - Credit Quality - Other
Note 4 - Credit Quality - Other Real Estate Owned (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | ||
Non-covered OREO | $ 3,543 | $ 5,109 | [1] | |
Covered OREO | 54 | 276 | [1] | |
Total OREO | 3,597 | 5,385 | ||
Non-covered OREO secured by residential real estate | 971 | 1,746 | ||
Residential real estate loans in the foreclosure process(1) | [2] | $ 10,025 | $ 2,539 | |
[1] | Derived from audited financial statements | |||
[2] | The recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure according to local requirements of the applicable jurisdiction |
Note 5 - Allowance for Loan L61
Note 5 - Allowance for Loan Losses - Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Beginning balance | $ 18,886 | $ 21,099 | $ 17,948 | [1] | $ 20,233 |
Provision (Recovery) for loan losses | 730 | (1,154) | 2,156 | 754 | |
Charge-offs | (717) | (772) | (1,976) | (2,691) | |
Recoveries | 307 | 460 | 1,078 | 1,337 | |
Net recoveries (charge-offs) | (410) | (312) | (898) | (1,354) | |
Ending balance | 19,206 | 19,633 | 19,206 | 19,633 | |
Benefit attributable to the FDIC indemnification asset | 1 | ||||
Provision (Recovery) for loan losses charged to operations | 730 | (1,154) | 2,156 | 755 | |
Recovery of loan losses recorded through the FDIC indemnification asset | (1) | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Beginning balance | 8 | 12 | 12 | 54 | |
Provision (Recovery) for loan losses | (8) | (12) | (42) | ||
Ending balance | 12 | 12 | |||
Benefit attributable to the FDIC indemnification asset | 1 | ||||
Provision (Recovery) for loan losses charged to operations | (8) | (12) | (41) | ||
Recovery of loan losses recorded through the FDIC indemnification asset | (1) | ||||
Allowance Excluding Purchased Credit Impaired Loans [Member] | |||||
Beginning balance | 18,878 | 21,087 | 17,936 | 20,179 | |
Provision (Recovery) for loan losses | 738 | (1,154) | 2,168 | 796 | |
Charge-offs | (717) | (772) | (1,976) | (2,691) | |
Recoveries | 307 | 460 | 1,078 | 1,337 | |
Net recoveries (charge-offs) | (410) | (312) | (898) | (1,354) | |
Ending balance | 19,206 | 19,621 | 19,206 | 19,621 | |
Commercial Portfolio Segment [Member] | |||||
Beginning balance | 12,283 | 13,689 | 11,690 | 13,133 | |
Provision (Recovery) for loan losses | 358 | (726) | 822 | (200) | |
Charge-offs | (207) | (272) | (493) | (747) | |
Recoveries | 170 | 295 | 585 | 800 | |
Net recoveries (charge-offs) | (37) | 23 | 92 | 53 | |
Ending balance | 12,604 | 12,986 | 12,604 | 12,986 | |
Benefit attributable to the FDIC indemnification asset | |||||
Provision (Recovery) for loan losses charged to operations | 358 | (726) | 822 | (200) | |
Recovery of loan losses recorded through the FDIC indemnification asset | |||||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Beginning balance | |||||
Provision (Recovery) for loan losses | |||||
Ending balance | |||||
Benefit attributable to the FDIC indemnification asset | |||||
Provision (Recovery) for loan losses charged to operations | |||||
Recovery of loan losses recorded through the FDIC indemnification asset | |||||
Commercial Portfolio Segment [Member] | Allowance Excluding Purchased Credit Impaired Loans [Member] | |||||
Beginning balance | 12,283 | 13,689 | 11,690 | 13,133 | |
Provision (Recovery) for loan losses | 358 | (726) | 822 | (200) | |
Charge-offs | (207) | (272) | (493) | (747) | |
Recoveries | 170 | 295 | 585 | 800 | |
Net recoveries (charge-offs) | (37) | 23 | 92 | 53 | |
Ending balance | 12,604 | 12,986 | 12,604 | 12,986 | |
Consumer Real Estate Portfolio Segment [Member] | |||||
Beginning balance | 5,810 | 6,637 | 5,499 | 6,410 | |
Provision (Recovery) for loan losses | 67 | (575) | 549 | 394 | |
Charge-offs | (137) | (207) | (535) | (1,135) | |
Recoveries | 67 | 89 | 294 | 275 | |
Net recoveries (charge-offs) | (70) | (118) | (241) | (860) | |
Ending balance | 5,807 | 5,944 | 5,807 | 5,944 | |
Benefit attributable to the FDIC indemnification asset | 1 | ||||
Provision (Recovery) for loan losses charged to operations | 67 | (575) | 549 | 395 | |
Recovery of loan losses recorded through the FDIC indemnification asset | (1) | ||||
Consumer Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Beginning balance | 8 | 12 | 12 | 54 | |
Provision (Recovery) for loan losses | (8) | (12) | (42) | ||
Ending balance | 12 | 12 | |||
Benefit attributable to the FDIC indemnification asset | 1 | ||||
Provision (Recovery) for loan losses charged to operations | (8) | (12) | (41) | ||
Recovery of loan losses recorded through the FDIC indemnification asset | (1) | ||||
Consumer Real Estate Portfolio Segment [Member] | Allowance Excluding Purchased Credit Impaired Loans [Member] | |||||
Beginning balance | 5,802 | 6,625 | 5,487 | 6,356 | |
Provision (Recovery) for loan losses | 75 | (575) | 561 | 436 | |
Charge-offs | (137) | (207) | (535) | (1,135) | |
Recoveries | 67 | 89 | 294 | 275 | |
Net recoveries (charge-offs) | (70) | (118) | (241) | (860) | |
Ending balance | 5,807 | 5,932 | 5,807 | 5,932 | |
Consumer and Other Portfolio Segment [Member] | |||||
Beginning balance | 793 | 773 | 759 | 690 | |
Provision (Recovery) for loan losses | 305 | 147 | 785 | 560 | |
Charge-offs | (373) | (293) | (948) | (809) | |
Recoveries | 70 | 76 | 199 | 262 | |
Net recoveries (charge-offs) | (303) | (217) | (749) | (547) | |
Ending balance | 795 | 703 | 795 | 703 | |
Benefit attributable to the FDIC indemnification asset | |||||
Provision (Recovery) for loan losses charged to operations | 305 | 147 | 785 | 560 | |
Recovery of loan losses recorded through the FDIC indemnification asset | |||||
Consumer and Other Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Beginning balance | |||||
Provision (Recovery) for loan losses | |||||
Ending balance | |||||
Benefit attributable to the FDIC indemnification asset | |||||
Provision (Recovery) for loan losses charged to operations | |||||
Recovery of loan losses recorded through the FDIC indemnification asset | |||||
Consumer and Other Portfolio Segment [Member] | Allowance Excluding Purchased Credit Impaired Loans [Member] | |||||
Beginning balance | 793 | 773 | 759 | 690 | |
Provision (Recovery) for loan losses | 305 | 147 | 785 | 560 | |
Charge-offs | (373) | (293) | (948) | (809) | |
Recoveries | 70 | 76 | 199 | 262 | |
Net recoveries (charge-offs) | (303) | (217) | (749) | (547) | |
Ending balance | $ 795 | $ 703 | $ 795 | $ 703 | |
[1] | Derived from audited financial statements |
Note 5 - Allowance for Loan L62
Note 5 - Allowance for Loan Losses - Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment, Excluding PCI Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Loans individually evaluated for impairment | $ 15,517 | $ 10,082 |
Allowance for loans individually evaluated | 1,460 | 819 |
Loans collectively evaluated for impairment | 1,801,111 | 1,814,437 |
Allowance for loans collectively evaluated | 17,746 | 17,117 |
Commercial Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | 7,258 | 4,626 |
Allowance for loans individually evaluated | 706 | 49 |
Loans collectively evaluated for impairment | 1,065,794 | 1,065,126 |
Allowance for loans collectively evaluated | 11,898 | 11,641 |
Commercial Portfolio Segment [Member] | Construction, Development and Other Land [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 72,293 | 60,281 |
Allowance for loans collectively evaluated | 1,099 | 889 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans individually evaluated for impairment | 2,400 | |
Allowance for loans individually evaluated | 262 | |
Loans collectively evaluated for impairment | 87,782 | 93,099 |
Allowance for loans collectively evaluated | 478 | 495 |
Commercial Portfolio Segment [Member] | Multi-family Residential [Member] | ||
Loans individually evaluated for impairment | 254 | 281 |
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 125,743 | 133,947 |
Allowance for loans collectively evaluated | 1,133 | 1,157 |
Commercial Portfolio Segment [Member] | Single Family Non-owner Occupied [Member] | ||
Loans individually evaluated for impairment | 1,103 | 1,910 |
Allowance for loans individually evaluated | 69 | 31 |
Loans collectively evaluated for impairment | 140,150 | 139,711 |
Allowance for loans collectively evaluated | 2,308 | 2,721 |
Commercial Portfolio Segment [Member] | Non-farm, Non-residential [Member] | ||
Loans individually evaluated for impairment | 2,561 | 1,454 |
Allowance for loans individually evaluated | 325 | |
Loans collectively evaluated for impairment | 606,773 | 600,915 |
Allowance for loans collectively evaluated | 6,706 | 6,185 |
Commercial Portfolio Segment [Member] | Agricultural [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 6,096 | 6,028 |
Allowance for loans collectively evaluated | 44 | 43 |
Commercial Portfolio Segment [Member] | Farmland [Member] | ||
Loans individually evaluated for impairment | 940 | 981 |
Allowance for loans individually evaluated | 50 | 18 |
Loans collectively evaluated for impairment | 26,957 | 31,145 |
Allowance for loans collectively evaluated | 130 | 151 |
Consumer Real Estate Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | 8,259 | 5,456 |
Allowance for loans individually evaluated | 754 | 770 |
Loans collectively evaluated for impairment | 659,766 | 667,816 |
Allowance for loans collectively evaluated | 5,053 | 4,717 |
Consumer Real Estate Portfolio Segment [Member] | Home Equity Lines [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 116,468 | 122,000 |
Allowance for loans collectively evaluated | 825 | 895 |
Consumer Real Estate Portfolio Segment [Member] | Single Family Owner Occupied [Member] | ||
Loans individually evaluated for impairment | 8,259 | 5,120 |
Allowance for loans individually evaluated | 754 | 770 |
Loans collectively evaluated for impairment | 496,264 | 501,617 |
Allowance for loans collectively evaluated | 3,852 | 3,594 |
Consumer Real Estate Portfolio Segment [Member] | Owner Occupied Construction [Member] | ||
Loans individually evaluated for impairment | 336 | |
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 47,034 | 44,199 |
Allowance for loans collectively evaluated | 376 | 228 |
Consumer and Other Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 75,551 | 81,495 |
Allowance for loans collectively evaluated | 795 | 759 |
Consumer and Other Portfolio Segment [Member] | Consumer Loan [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 70,695 | 77,524 |
Allowance for loans collectively evaluated | 795 | 759 |
Consumer and Other Portfolio Segment [Member] | Other Loan [Member] | ||
Loans individually evaluated for impairment | ||
Allowance for loans individually evaluated | ||
Loans collectively evaluated for impairment | 4,856 | 3,971 |
Allowance for loans collectively evaluated |
Note 5 - Allowance for Loan L63
Note 5 - Allowance for Loan Losses - Allowance for Loan Losses on PCI Loans and Recorded Investment (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Acquired impaired loans evaluated for impairment | $ 21,093 | $ 28,429 |
Allowance for acquired impaired loans | 12 | |
Commercial Portfolio Segment [Member] | ||
Acquired impaired loans evaluated for impairment | 5,622 | 5,846 |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Waccamaw Commercial [Member] | ||
Acquired impaired loans evaluated for impairment | 452 | 260 |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Peoples Commercial [Member] | ||
Acquired impaired loans evaluated for impairment | 4,159 | 4,491 |
Allowance for acquired impaired loans | ||
Commercial Portfolio Segment [Member] | Other Commercial Loan [Member] | ||
Acquired impaired loans evaluated for impairment | 1,011 | 1,095 |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | ||
Acquired impaired loans evaluated for impairment | 15,471 | 22,583 |
Allowance for acquired impaired loans | 12 | |
Consumer Real Estate Portfolio Segment [Member] | Waccamaw Serviced Home Equity Lines [Member] | ||
Acquired impaired loans evaluated for impairment | 13,270 | 20,178 |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | Waccamaw Residential [Member] | ||
Acquired impaired loans evaluated for impairment | 1,181 | 1,320 |
Allowance for acquired impaired loans | ||
Consumer Real Estate Portfolio Segment [Member] | Peoples Residential [Member] | ||
Acquired impaired loans evaluated for impairment | 1,020 | 1,085 |
Allowance for acquired impaired loans | $ 12 |
Note 6 - FDIC Indemnification64
Note 6 - FDIC Indemnification Asset (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 31,287 | $ 56,994 | |
Other Real Estate, Covered | $ 54 | $ 276 | [1] |
Percentage of Loss Covered by FDIC | 80.00% | ||
[1] | Derived from audited financial statements |
Note 6 - FDIC Indemnification65
Note 6 - FDIC Indemnification Asset - Changes in Receivable from FDIC (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Beginning balance | $ 8,159 | $ 16,431 | $ 12,173 | [1] | $ 20,844 |
Decrease in estimated losses on covered loans | (1) | ||||
Increase in estimated losses on covered OREO | 4 | 277 | 71 | 851 | |
Reimbursable expenses from the FDIC | 47 | 60 | 108 | 134 | |
Net FDIC indemnification asset amortization | (268) | (1,369) | (3,186) | (3,856) | |
Reimbursements from the FDIC | (477) | (1,067) | (1,701) | (3,640) | |
Ending balance | $ 7,465 | $ 14,332 | $ 7,465 | $ 14,332 | |
[1] | Derived from audited financial statements |
Note 7 - Deposits - Components
Note 7 - Deposits - Components of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Noninterest-bearing demand deposits | $ 452,940 | $ 427,705 | [1] |
Interest-bearing deposits: | |||
Interest-bearing demand deposits | 393,244 | 378,339 | |
Money market accounts | 172,266 | 196,997 | |
Savings deposits | 337,934 | 326,263 | |
Certificates of deposit | 381,625 | 382,503 | |
Individual retirement accounts | 125,811 | 129,531 | |
Total interest-bearing deposits | 1,410,880 | 1,413,633 | [1] |
Total deposits | $ 1,863,820 | $ 1,841,338 | [1] |
[1] | Derived from audited financial statements |
Note 8 - Borrowings (Details Te
Note 8 - Borrowings (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 934,900 | ||
Deposit Liabilities, Collateral Issued, Financial Instruments | $ 113,710 | ||
Unsecured Line of Credit [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 15,000 | ||
Long-term Line of Credit | 0 | $ 0 | |
Junior Subordinated Debt [Member] | |||
Proceeds from Issuance of Subordinated Long-term Debt | $ 15,460 | ||
Debt Instrument, Term | 30 years | ||
Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.95% | ||
Federal Home Loan Bank Borrowings [Member] | |||
Debt Instrument, Unused Borrowing Capacity, Amount | $ 446,300 |
Note 8 - Borrowings - Component
Note 8 - Borrowings - Components of Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Securities sold under agreements to repurchase | $ 83,783 | $ 98,005 | [1] |
Other debt | 244 | ||
Total borrowings | 133,783 | 178,713 | |
Subordinated Debt [Member] | |||
Subordinated debt | $ 15,464 | ||
Subordinated debt, rate | 3.65% | ||
Federal Home Loan Bank Borrowings [Member] | Long-term Advances [Member] | |||
Long-term FHLB advances, amount | $ 50,000 | $ 65,000 | |
Long-term FHLB advances, rate | 4.00% | 4.04% | |
Retail Repurchase Agreements [Member] | |||
Securities sold under agreements to repurchase | $ 58,783 | $ 73,005 | |
Weighted average contractual rate | 0.07% | 0.07% | |
Wholesale Repurchase Agreements [Member] | |||
Securities sold under agreements to repurchase | $ 25,000 | $ 25,000 | |
Weighted average contractual rate | 3.18% | 3.18% | |
[1] | Derived from audited financial statements |
Note 8 - Borrowings - Contractu
Note 8 - Borrowings - Contractual and Weighted Average Maturities of Long-term Borrowings (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2017USD ($) | |
2,017 | |
2,018 | |
2,019 | 25 |
2,020 | |
2,021 | 50 |
2022 and thereafter | |
Total long-term borrowings | $ 75 |
Weighted average maturity (in years) (Year) | 2 years 237 days |
Wholesale Repurchase Agreements [Member] | |
2,017 | |
2,018 | |
2,019 | 25 |
2,020 | |
2,021 | |
2022 and thereafter | |
Total long-term borrowings | $ 25 |
Weighted average maturity (in years) (Year) | 1 year 149 days |
Federal Home Loan Bank Borrowings [Member] | |
2,017 | |
2,018 | |
2,019 | |
2,020 | |
2,021 | 50 |
2022 and thereafter | |
Total long-term borrowings | $ 50 |
Weighted average maturity (in years) (Year) | 3 years 98 days |
Note 8 - Borrowings - Contrac70
Note 8 - Borrowings - Contractual Maturities of Repurchase Agreements (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | [1] |
Repurchase agreements | $ 83,783 | $ 98,005 | |
Maturity Overnight and Continuous [Member] | |||
Repurchase agreements | 58,706 | ||
Maturity Less than 30 Days [Member] | |||
Repurchase agreements | |||
Maturity 30 to 90 Days [Member] | |||
Repurchase agreements | |||
Maturity Greater than 90 Days [Member] | |||
Repurchase agreements | 25,077 | ||
US Government Agencies Debt Securities [Member] | |||
Repurchase agreements | 14,240 | ||
US Government Agencies Debt Securities [Member] | Maturity Overnight and Continuous [Member] | |||
Repurchase agreements | 5,240 | ||
US Government Agencies Debt Securities [Member] | Maturity Less than 30 Days [Member] | |||
Repurchase agreements | |||
US Government Agencies Debt Securities [Member] | Maturity 30 to 90 Days [Member] | |||
Repurchase agreements | |||
US Government Agencies Debt Securities [Member] | Maturity Greater than 90 Days [Member] | |||
Repurchase agreements | 9,000 | ||
US Treasury Securities [Member] | |||
Repurchase agreements | 16,274 | ||
US Treasury Securities [Member] | Maturity Overnight and Continuous [Member] | |||
Repurchase agreements | 12,874 | ||
US Treasury Securities [Member] | Maturity Less than 30 Days [Member] | |||
Repurchase agreements | |||
US Treasury Securities [Member] | Maturity 30 to 90 Days [Member] | |||
Repurchase agreements | |||
US Treasury Securities [Member] | Maturity Greater than 90 Days [Member] | |||
Repurchase agreements | 3,400 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Repurchase agreements | 37,953 | ||
US States and Political Subdivisions Debt Securities [Member] | Maturity Overnight and Continuous [Member] | |||
Repurchase agreements | 37,953 | ||
US States and Political Subdivisions Debt Securities [Member] | Maturity Less than 30 Days [Member] | |||
Repurchase agreements | |||
US States and Political Subdivisions Debt Securities [Member] | Maturity 30 to 90 Days [Member] | |||
Repurchase agreements | |||
US States and Political Subdivisions Debt Securities [Member] | Maturity Greater than 90 Days [Member] | |||
Repurchase agreements | |||
Mortgage-backed Agency Securities [Member] | |||
Repurchase agreements | 15,316 | ||
Mortgage-backed Agency Securities [Member] | Maturity Overnight and Continuous [Member] | |||
Repurchase agreements | 2,639 | ||
Mortgage-backed Agency Securities [Member] | Maturity Less than 30 Days [Member] | |||
Repurchase agreements | |||
Mortgage-backed Agency Securities [Member] | Maturity 30 to 90 Days [Member] | |||
Repurchase agreements | |||
Mortgage-backed Agency Securities [Member] | Maturity Greater than 90 Days [Member] | |||
Repurchase agreements | $ 12,677 | ||
[1] | Derived from audited financial statements |
Note 9 - Derivative Instrumen71
Note 9 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2015 | Feb. 28, 2014 | Aug. 30, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Derivative, Notional Amount | $ 5,892 | $ 4,835 | |||
Interest Rate Swap [Member] | |||||
Derivative, Term of Contract | 14 years | 15 years | 10 years | ||
Derivative, Notional Amount | $ 1,200 | $ 4,370 | $ 1,280 |
Note 9 - Derivative Instrumen72
Note 9 - Derivative Instruments and Hedging Activities - Notional or Contractual Amounts and Fair Values of Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Aug. 30, 2017 | Dec. 31, 2016 | Mar. 31, 2015 | Feb. 28, 2014 |
Notional or contractual amount | $ 5,892 | $ 4,835 | |||
Derivative assets | |||||
Derivative liabilities | 151 | 167 | |||
Interest Rate Swap [Member] | |||||
Notional or contractual amount | $ 1,280 | $ 1,200 | $ 4,370 | ||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||||
Notional or contractual amount | 5,892 | 4,835 | |||
Derivative assets | |||||
Derivative liabilities | $ 151 | $ 167 |
Note 9 - Derivative Instrumen73
Note 9 - Derivative Instruments and Hedging Activities - Effect of Derivative and Hedging Activity, on Consolidated Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivatives designated as hedges Interest rate swaps | $ 23 | $ 31 | $ 64 | $ 86 |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Interest and Fees on Loans [Member] | ||||
Derivatives designated as hedges Interest rate swaps | $ 23 | $ 31 | $ 64 | $ 86 |
Note 10 - Employee Benefit Pl74
Note 10 - Employee Benefit Plans - Net Periodic Benefit Cost (Details) - Supplemental Executive Retention Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Service cost | $ 57 | $ 46 | $ 173 | $ 138 |
Interest cost | 93 | 95 | 279 | 286 |
Amortization of prior service cost | 57 | 57 | 171 | 170 |
Amortization of losses | 8 | 12 | 23 | 35 |
Net periodic cost | $ 215 | $ 210 | $ 646 | $ 629 |
Note 11 - Accumulated Other C75
Note 11 - Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Beginning balance | $ 339,057 | [1] | $ 343,017 | ||
Other comprehensive income (loss), net | $ (66) | $ 3,387 | 1,944 | 5,617 | |
Ending balance | 352,637 | 337,536 | 352,637 | 337,536 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||
Beginning balance | 1,302 | (1,706) | (544) | (3,885) | |
Other comprehensive income (loss) before reclassifications | (106) | 465 | 1,329 | 2,588 | |
Reclassified from AOCI | 2,881 | 411 | 2,937 | ||
Other comprehensive income (loss), net | (106) | 3,346 | 1,740 | 5,525 | |
Ending balance | 1,196 | 1,640 | 1,196 | 1,640 | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Beginning balance | (1,303) | (1,311) | (1,467) | (1,362) | |
Other comprehensive income (loss) before reclassifications | (1) | (2) | 83 | (36) | |
Reclassified from AOCI | 41 | 43 | 121 | 128 | |
Other comprehensive income (loss), net | 40 | 41 | 204 | 92 | |
Ending balance | (1,263) | (1,270) | (1,263) | (1,270) | |
AOCI Attributable to Parent [Member] | |||||
Beginning balance | (1) | (3,017) | (2,011) | (5,247) | |
Other comprehensive income (loss) before reclassifications | (107) | 463 | 1,412 | 2,552 | |
Reclassified from AOCI | 41 | 2,924 | 532 | 3,065 | |
Other comprehensive income (loss), net | (66) | 3,387 | 1,944 | 5,617 | |
Ending balance | $ (67) | $ 370 | $ (67) | $ 370 | |
[1] | Derived from audited financial statements |
Note 11 - Accumulated Other C76
Note 11 - Accumulated Other Comprehensive Income - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Net loss on sale of securities | $ 25 | $ (657) | $ (53) | ||
Net impairment losses recognized in earnings | 4,635 | 4,646 | |||
Income before income taxes | 11,546 | 9,613 | 30,180 | 27,903 | |
Income tax expense | 3,894 | 3,230 | 9,908 | 9,181 | |
Net income | 7,652 | 6,383 | 20,272 | 18,722 | |
Reclassified out of AOCI, net of tax | 41 | 2,924 | 532 | 3,065 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Net loss on sale of securities | (25) | 657 | 53 | ||
Income before income taxes | 4,610 | 657 | 4,699 | ||
Income tax expense | 1,729 | 246 | 1,762 | ||
Net income | 2,881 | 411 | 2,937 | ||
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] | |||||
Reclassified out of AOCI | [1] | 57 | 57 | 171 | 170 |
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | |||||
Reclassified out of AOCI | [1] | 8 | 12 | 23 | 35 |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Reclassified out of AOCI | 65 | 69 | 194 | 205 | |
Income tax expense | 24 | 26 | 73 | 77 | |
Reclassified out of AOCI, net of tax | $ 41 | $ 43 | $ 121 | $ 128 | |
[1] | Amortization is included in net periodic pension cost. See Note 10, "Employee Benefit Plans." |
Note 12 - Fair Value - Assets a
Note 12 - Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Securities available for sale | $ 174,424 | $ 165,579 | [1] |
IRLCs | |||
Derivative liabilities | 151 | 167 | |
Fair Value, Measurements, Recurring [Member] | |||
Securities available for sale | 174,424 | 165,579 | |
Fair value loans | 5,758 | 4,701 | |
Deferred compensation assets | 3,330 | 3,224 | |
Deferred compensation liabilities | 3,330 | 3,224 | |
IRLCs | |||
Derivative liabilities | 151 | 167 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 55 | 55 | |
Fair value loans | |||
Deferred compensation assets | 3,330 | 3,224 | |
Deferred compensation liabilities | 3,330 | 3,224 | |
IRLCs | |||
Derivative liabilities | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 174,369 | 165,524 | |
Fair value loans | 5,758 | 4,701 | |
Deferred compensation assets | |||
Deferred compensation liabilities | |||
IRLCs | |||
Derivative liabilities | 151 | 167 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | |||
Fair value loans | |||
Deferred compensation assets | |||
Deferred compensation liabilities | |||
IRLCs | |||
Derivative liabilities | |||
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | |||
Securities available for sale | 36,964 | ||
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 36,964 | ||
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||
Securities available for sale | 1,275 | 1,345 | |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 1,275 | 1,345 | |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Securities available for sale | 104,907 | 113,331 | |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 104,907 | 113,331 | |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | Single Issue Trust Preferred Securities [Member] | |||
Securities available for sale | 8,962 | 19,939 | |
Fair Value, Measurements, Recurring [Member] | Single Issue Trust Preferred Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | Single Issue Trust Preferred Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 8,962 | 19,939 | |
Fair Value, Measurements, Recurring [Member] | Single Issue Trust Preferred Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Agency Securities [Member] | |||
Securities available for sale | 22,243 | 30,891 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 22,243 | 30,891 | |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Agency Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | |||
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | |||
Securities available for sale | 73 | 73 | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 55 | 55 | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Securities available for sale | 18 | 18 | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Securities available for sale | |||
[1] | Derived from audited financial statements |
Note 12 - Fair Value - Assets M
Note 12 - Fair Value - Assets Measured at Fair Value on Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Impaired Loans [Member] | Non-covered Loans [Member] | ||
Total Fair Value | $ 6,757 | $ 4,078 |
Impaired Loans [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | ||
Impaired Loans [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | ||
Impaired Loans [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | 6,757 | 4,078 |
OREO [Member] | Non-covered Loans [Member] | ||
Total Fair Value | 2,293 | 5,109 |
OREO [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | ||
OREO [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | ||
OREO [Member] | Non-covered Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | 2,293 | 5,109 |
OREO [Member] | Covered Loans [Member] | ||
Total Fair Value | 54 | 265 |
OREO [Member] | Covered Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | ||
OREO [Member] | Covered Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | ||
OREO [Member] | Covered Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | $ 54 | $ 265 |
Note 12 - Fair Value - Quantita
Note 12 - Fair Value - Quantitative Information for Assets Measured at Fair Value on Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | ||
Impaired Loans [Member] | Non-covered Loans [Member] | |||
Valuation technique | [1] | Discounted appraisals(1) | |
Unobservable input | [2] | Appraisal adjustments(2) | |
Impaired Loans [Member] | Non-covered Loans [Member] | Minimum [Member] | |||
Discount range | 2.00% | 3.00% | |
Impaired Loans [Member] | Non-covered Loans [Member] | Maximum [Member] | |||
Discount range | 63.00% | 39.00% | |
Impaired Loans [Member] | Non-covered Loans [Member] | Weighted Average [Member] | |||
Discount range | 18.00% | 17.00% | |
OREO [Member] | Non-covered Loans [Member] | |||
Valuation technique | [1] | Discounted appraisals(1) | |
Unobservable input | [2] | Appraisal adjustments(2) | |
OREO [Member] | Non-covered Loans [Member] | Minimum [Member] | |||
Discount range | 10.00% | 0.00% | |
OREO [Member] | Non-covered Loans [Member] | Maximum [Member] | |||
Discount range | 62.00% | 88.00% | |
OREO [Member] | Non-covered Loans [Member] | Weighted Average [Member] | |||
Discount range | 28.00% | 30.00% | |
OREO [Member] | Covered Loans [Member] | |||
Valuation technique | [1] | Discounted appraisals(1) | |
Unobservable input | [2] | Appraisal adjustments(2) | |
OREO [Member] | Covered Loans [Member] | Minimum [Member] | |||
Discount range | 0.00% | 0.00% | |
OREO [Member] | Covered Loans [Member] | Maximum [Member] | |||
Discount range | 65.00% | 44.00% | |
OREO [Member] | Covered Loans [Member] | Weighted Average [Member] | |||
Discount range | 56.00% | 40.00% | |
[1] | Fair value is generally based on appraisals of the underlying collateral. | ||
[2] | Appraisals may be adjusted by management for customized discounting criteria, estimated sales costs, and proprietary qualitative adjustments. |
Note 12 - Fair Value - Financia
Note 12 - Fair Value - Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Securities available for sale | $ 174,424 | $ 165,579 | [1] | ||||
Securities held to maturity | 25,226 | 47,266 | |||||
FDIC indemnification asset | 7,465 | $ 8,159 | 12,173 | [1] | $ 14,332 | $ 16,431 | $ 20,844 |
Interest receivable | 5,156 | 5,553 | [1] | ||||
Derivative financial liabilities | 151 | 167 | |||||
Reported Value Measurement [Member] | |||||||
Cash and cash equivalents | 105,119 | 76,307 | |||||
Securities available for sale | 174,424 | 165,579 | |||||
Securities held to maturity | 25,182 | 47,133 | |||||
Loans held for investment, net of allowance | 1,818,515 | 1,835,000 | |||||
FDIC indemnification asset | 7,465 | 12,173 | |||||
Interest receivable | 5,156 | 5,553 | |||||
Deferred compensation assets | 3,330 | 3,224 | |||||
Securities sold under agreements to repurchase | 83,783 | 98,005 | |||||
Interest payable | 1,085 | 1,280 | |||||
FHLB and other borrowings | 50,000 | 80,708 | |||||
Derivative financial liabilities | 151 | 167 | |||||
Deferred compensation liabilities | 3,330 | 3,224 | |||||
Reported Value Measurement [Member] | Demand Deposits [Member] | |||||||
Deposits fair value | 452,940 | 427,705 | |||||
Reported Value Measurement [Member] | Interest-bearing Deposits [Member] | |||||||
Deposits fair value | 393,244 | 378,339 | |||||
Reported Value Measurement [Member] | Savings Deposits [Member] | |||||||
Deposits fair value | 510,200 | 523,260 | |||||
Reported Value Measurement [Member] | Bank Time Deposits [Member] | |||||||
Deposits fair value | 507,436 | 512,034 | |||||
Estimate of Fair Value Measurement [Member] | |||||||
Cash and cash equivalents | 105,119 | 76,307 | |||||
Securities available for sale | 174,424 | 165,579 | |||||
Securities held to maturity | 25,226 | 47,266 | |||||
Loans held for investment, net of allowance | 1,792,719 | 1,805,999 | |||||
FDIC indemnification asset | 4,548 | 8,112 | |||||
Interest receivable | 5,156 | 5,553 | |||||
Deferred compensation assets | 3,330 | 3,224 | |||||
Securities sold under agreements to repurchase | 84,315 | 98,879 | |||||
Interest payable | 1,085 | 1,280 | |||||
FHLB and other borrowings | 53,402 | 83,551 | |||||
Derivative financial liabilities | 151 | 167 | |||||
Deferred compensation liabilities | 3,330 | 3,224 | |||||
Estimate of Fair Value Measurement [Member] | Demand Deposits [Member] | |||||||
Deposits fair value | 452,940 | 427,705 | |||||
Estimate of Fair Value Measurement [Member] | Interest-bearing Deposits [Member] | |||||||
Deposits fair value | 393,244 | 378,339 | |||||
Estimate of Fair Value Measurement [Member] | Savings Deposits [Member] | |||||||
Deposits fair value | 510,200 | 523,260 | |||||
Estimate of Fair Value Measurement [Member] | Bank Time Deposits [Member] | |||||||
Deposits fair value | 503,332 | 507,917 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||||||
Cash and cash equivalents | 105,119 | 76,307 | |||||
Securities available for sale | 55 | 55 | |||||
Securities held to maturity | |||||||
Loans held for investment, net of allowance | |||||||
FDIC indemnification asset | |||||||
Interest receivable | |||||||
Deferred compensation assets | 3,330 | 3,224 | |||||
Securities sold under agreements to repurchase | |||||||
Interest payable | |||||||
FHLB and other borrowings | |||||||
Derivative financial liabilities | |||||||
Deferred compensation liabilities | 3,330 | 3,224 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Demand Deposits [Member] | |||||||
Deposits fair value | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Interest-bearing Deposits [Member] | |||||||
Deposits fair value | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Savings Deposits [Member] | |||||||
Deposits fair value | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Bank Time Deposits [Member] | |||||||
Deposits fair value | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||
Cash and cash equivalents | |||||||
Securities available for sale | 174,369 | 165,524 | |||||
Securities held to maturity | 25,226 | 47,266 | |||||
Loans held for investment, net of allowance | 5,758 | 4,701 | |||||
FDIC indemnification asset | |||||||
Interest receivable | 5,156 | 5,553 | |||||
Deferred compensation assets | |||||||
Securities sold under agreements to repurchase | 84,315 | 98,879 | |||||
Interest payable | 1,085 | 1,280 | |||||
FHLB and other borrowings | 53,402 | 83,551 | |||||
Derivative financial liabilities | 151 | 167 | |||||
Deferred compensation liabilities | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Demand Deposits [Member] | |||||||
Deposits fair value | 452,940 | 427,705 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest-bearing Deposits [Member] | |||||||
Deposits fair value | 393,244 | 378,339 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Savings Deposits [Member] | |||||||
Deposits fair value | 510,200 | 523,260 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Bank Time Deposits [Member] | |||||||
Deposits fair value | 503,332 | 507,917 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||
Cash and cash equivalents | |||||||
Securities available for sale | |||||||
Securities held to maturity | |||||||
Loans held for investment, net of allowance | 1,786,961 | 1,801,298 | |||||
FDIC indemnification asset | 4,548 | 8,112 | |||||
Interest receivable | |||||||
Deferred compensation assets | |||||||
Securities sold under agreements to repurchase | |||||||
Interest payable | |||||||
FHLB and other borrowings | |||||||
Derivative financial liabilities | |||||||
Deferred compensation liabilities | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Demand Deposits [Member] | |||||||
Deposits fair value | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest-bearing Deposits [Member] | |||||||
Deposits fair value | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Savings Deposits [Member] | |||||||
Deposits fair value | |||||||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Bank Time Deposits [Member] | |||||||
Deposits fair value | |||||||
[1] | Derived from audited financial statements |
Note 13 - Earnings Per Share -
Note 13 - Earnings Per Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 7,652 | $ 6,383 | $ 20,272 | $ 18,722 |
Dividends on preferred stock | ||||
Net income available to common shareholders | $ 7,652 | $ 6,383 | $ 20,272 | $ 18,722 |
Weighted average common shares outstanding, basic (in shares) | 17,005,654 | 17,031,074 | 17,005,350 | 17,433,406 |
Total dilutive effect of potential common shares (in shares) | 77,075 | 52,452 | 71,608 | 41,805 |
Weighted average common shares outstanding, diluted (in shares) | 17,082,729 | 17,083,526 | 17,076,958 | 17,475,211 |
Basic earnings per common share (in dollars per share) | $ 0.45 | $ 0.37 | $ 1.19 | $ 1.07 |
Diluted earnings per common share (in dollars per share) | $ 0.45 | $ 0.37 | $ 1.19 | $ 1.07 |
Antidilutive potential common shares (in shares) | 71,592 | 127,789 | 75,868 | 127,789 |
Employee Stock Option [Member] | ||||
Dilutive effect of potential common shares (in shares) | 49,739 | 38,746 | 50,140 | 31,856 |
Antidilutive potential common shares (in shares) | 71,592 | 127,789 | 75,868 | 127,789 |
Restricted Stock [Member] | ||||
Dilutive effect of potential common shares (in shares) | 27,336 | 13,706 | 21,468 | 9,949 |
Note 14 - Litigation, Commitm82
Note 14 - Litigation, Commitments and Contingencies - Off-Balance Sheet Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Commitments to extend credit | $ 245,978 | $ 261,801 | |
Standby letters of credit and financial guarantees(1) | [1] | 118,318 | 83,900 |
Total off-balance sheet risk | 364,296 | 345,701 | |
Reserve for unfunded commitments | $ 66 | $ 326 | |
[1] | Includes FHLB letters of credit |