Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 02, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | UWHR | |
Entity Registrant Name | UWHARRIE CAPITAL CORP | |
Entity Central Index Key | 0000898171 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 7,072,062 | |
Entity File Number | 000-22062 | |
Entity Tax Identification Number | 561814206 | |
Entity Address, Address Line One | 132 NORTH FIRST STREET | |
Entity Address, City or Town | ALBEMARLE | |
Entity Address, State or Province | NORTH CAROLINA | |
Entity Address, Postal Zip Code | 28001 | |
City Area Code | 704 | |
Local Phone Number | 983-6181 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 5,314 | $ 4,473 |
Interest-earning deposits with banks | 107,544 | 113,461 |
Securities available for sale, at fair value | 87,741 | 91,299 |
Securities held to maturity, at amortized cost (fair value $10,704 and $10,750, respectively) | 10,639 | 10,837 |
Loans held for sale | 2,517 | 4,800 |
Loans: | ||
Loans held for investment | 374,566 | 369,970 |
Less allowance for loan losses | (2,179) | (2,374) |
Net loans held for investment | 372,387 | 367,596 |
Premises and equipment, net | 16,823 | 14,800 |
Interest receivable | 1,733 | 1,763 |
Restricted stock | 1,144 | 1,094 |
Bank-owned life insurance | 8,726 | 8,671 |
Other real estate owned | 686 | 1,047 |
Prepaid assets | 1,109 | 558 |
Other assets | 11,000 | 11,905 |
Total assets | 627,363 | 632,304 |
Deposits: | ||
Demand noninterest-bearing | 148,930 | 129,714 |
Interest checking and money market accounts | 237,723 | 324,391 |
Savings deposits | 56,782 | 54,784 |
Time deposits, $250,000 and over | 57,759 | 7,920 |
Other time deposits | 55,722 | 50,092 |
Total deposits | 556,916 | 566,901 |
Short-term borrowed funds | 839 | 1,190 |
Long-term debt | 9,974 | 9,974 |
Interest payable | 47 | 16 |
Other liabilities | 11,534 | 9,048 |
Total liabilities | 579,310 | 587,129 |
Off balance sheet items, commitments and contingencies (Note 10) | ||
SHAREHOLDERS’ EQUITY | ||
Common stock, $1.25 par value: 20,000,000 shares authorized; shares issued and outstanding 7,072,062 and 7,126,541 | 8,840 | 8,908 |
Preferred stock, 10,000,000 shares authorized; none issued and outstanding | ||
Additional paid-in capital | 12,683 | 12,885 |
Undivided profits | 15,782 | 14,421 |
Accumulated other comprehensive income (loss) | 93 | (1,694) |
Total Uwharrie Capital shareholders’ equity | 37,398 | 34,520 |
Noncontrolling interest | 10,655 | 10,655 |
Total shareholders’ equity | 48,053 | 45,175 |
Total liabilities and shareholders’ equity | $ 627,363 | $ 632,304 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Statement Of Financial Position [Abstract] | ||
Securities held for sale, at amortized cost, fair value | $ 10,704 | $ 10,750 |
Common stock, par value | $ 1.25 | $ 1.25 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 7,072,062 | 7,126,541 |
Common stock, shares outstanding | 7,072,062 | 7,126,541 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest Income | ||||
Loans, including fees | $ 4,735 | $ 4,469 | $ 9,402 | $ 8,725 |
Investment securities | ||||
U.S. Treasury | 32 | 65 | ||
U.S. Government agencies and corporations | 345 | 364 | 693 | 751 |
State and political subdivisions, non-taxable | 88 | 111 | 194 | 224 |
State and political subdivisions, taxable | 25 | 9 | 34 | 20 |
Interest-earning deposits with banks and federal funds sold | 687 | 365 | 1,480 | 642 |
Total interest income | 5,912 | 5,318 | 11,868 | 10,362 |
Interest Expense | ||||
Interest checking and money market accounts | 343 | 192 | 768 | 336 |
Savings deposits | 26 | 13 | 53 | 25 |
Time deposits, $250,000 and over | 237 | 17 | 302 | 33 |
Other time deposits | 156 | 47 | 236 | 92 |
Short-term borrowed funds | 5 | 4 | 11 | 7 |
Long-term debt | 141 | 138 | 282 | 273 |
Total interest expense | 908 | 411 | 1,652 | 766 |
Net interest income | 5,004 | 4,907 | 10,216 | 9,596 |
Provision for (recovery of) loan losses | (315) | 38 | (428) | 116 |
Net interest income after provision for (recovery of) loan losses | 5,319 | 4,869 | 10,644 | 9,480 |
Noninterest Income | ||||
Service charges on deposit accounts | 341 | 290 | 668 | 573 |
Income from mortgage loan sales | 1,087 | 869 | 1,579 | 1,531 |
Other income (loss) | 2 | 216 | (19) | 385 |
Total noninterest income | 2,207 | 2,171 | 3,955 | 4,065 |
Noninterest Expense | ||||
Salaries and employee benefits | 4,252 | 4,121 | 8,385 | 8,067 |
Net occupancy expense | 418 | 396 | 823 | 760 |
Equipment expense | 183 | 165 | 359 | 335 |
Data processing costs | 172 | 283 | 394 | 533 |
Office supplies and printing | 33 | 39 | 60 | 75 |
Foreclosed real estate expense | 4 | 33 | 60 | 72 |
Professional fees and services | 199 | 214 | 352 | 462 |
Marketing and donations | 173 | 209 | 377 | 420 |
Electronic banking expense | 102 | 98 | 201 | 199 |
Software amortization and maintenance | 225 | 234 | 444 | 447 |
FDIC insurance | 52 | 65 | 132 | 131 |
Other noninterest expense | 485 | 638 | 911 | 1,207 |
Total noninterest expense | 6,298 | 6,495 | 12,498 | 12,708 |
Income before income taxes | 1,228 | 545 | 2,101 | 837 |
Income taxes | 277 | 78 | 460 | 136 |
Net income | 951 | 467 | 1,641 | 701 |
Less: net income attributable to noncontrolling interest | (140) | (141) | (280) | (284) |
Net income attributable to Uwharrie Capital Corp and common shareholders | $ 811 | $ 326 | $ 1,361 | $ 417 |
Net income per common share | ||||
Basic | $ 0.11 | $ 0.04 | $ 0.19 | $ 0.06 |
Diluted | $ 0.11 | $ 0.04 | $ 0.19 | $ 0.06 |
Weighted average shares outstanding | ||||
Basic | 7,095,756 | 7,249,390 | 7,110,578 | 7,251,978 |
Diluted | 7,095,756 | 7,249,390 | 7,110,578 | 7,251,978 |
Interchange and Card Transaction Fees, Net [Member] | ||||
Noninterest Income | ||||
Noninterest income fees | $ 204 | $ 144 | $ 398 | $ 286 |
Other Services and Commissions [Member] | ||||
Noninterest Income | ||||
Noninterest income fees | $ 573 | $ 652 | $ 1,329 | $ 1,290 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net Income | $ 951 | $ 467 | $ 1,641 | $ 701 |
Unrealized gain (loss) on available for sale securities | 1,367 | (142) | 2,320 | (1,241) |
Related tax effect | (314) | 32 | (533) | 282 |
Total other comprehensive income (loss) | 1,053 | (110) | 1,787 | (959) |
Comprehensive income (loss) | 2,004 | 357 | 3,428 | (258) |
Less: Comprehensive income attributable to noncontrolling interest | (140) | (141) | (280) | (284) |
Comprehensive income (loss) attributable to Uwharrie Capital | $ 1,864 | $ 216 | $ 3,148 | $ (542) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Number of Common Shares Issued [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Undivided Profits [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
Beginning balance at Dec. 31, 2017 | $ 44,540 | $ 8,891 | $ 12,824 | $ 13,282 | $ (1,107) | $ 10,650 | |
Beginning balance, shares at Dec. 31, 2017 | 7,112,853 | ||||||
Net Income | 701 | 417 | 284 | ||||
Repurchase of common stock | (142) | (31) | (111) | ||||
Repurchase of common stock, shares | (25,482) | ||||||
Stock options exercised | 65 | 16 | 49 | ||||
Stock options exercised, shares | 13,378 | ||||||
Other comprehensive income (loss) | (959) | (959) | |||||
Record preferred stock dividend Series B (noncontrolling interest) | (206) | (206) | |||||
Record preferred stock dividend Series C (noncontrolling interest) | (74) | (74) | |||||
Ending balance at Jun. 30, 2018 | 43,925 | 8,876 | 12,762 | 13,699 | (2,066) | 10,654 | |
Ending balance, shares at Jun. 30, 2018 | 7,100,749 | ||||||
Beginning balance at Mar. 31, 2018 | 43,747 | 8,884 | 12,793 | 13,373 | (1,956) | 10,653 | |
Beginning balance, shares at Mar. 31, 2018 | 7,107,520 | ||||||
Net Income | 467 | 326 | 141 | ||||
Repurchase of common stock | (39) | (8) | (31) | ||||
Repurchase of common stock, shares | (6,771) | ||||||
Other comprehensive income (loss) | (110) | (110) | |||||
Record preferred stock dividend Series B (noncontrolling interest) | (103) | (103) | |||||
Record preferred stock dividend Series C (noncontrolling interest) | (37) | (37) | |||||
Ending balance at Jun. 30, 2018 | 43,925 | 8,876 | 12,762 | 13,699 | (2,066) | 10,654 | |
Ending balance, shares at Jun. 30, 2018 | 7,100,749 | ||||||
Beginning balance at Dec. 31, 2018 | 45,175 | 8,908 | 12,885 | 14,421 | (1,694) | 10,655 | |
Beginning balance, shares at Dec. 31, 2018 | 7,126,541 | ||||||
Net Income | 1,641 | 1,361 | 280 | ||||
Repurchase of common stock | (270) | (68) | (202) | ||||
Repurchase of common stock, shares | (54,479) | ||||||
Other comprehensive income (loss) | 1,787 | 1,787 | |||||
Record preferred stock dividend Series B (noncontrolling interest) | (206) | (206) | |||||
Record preferred stock dividend Series C (noncontrolling interest) | (74) | (74) | |||||
Ending balance at Jun. 30, 2019 | 48,053 | 8,840 | 12,683 | 15,782 | 93 | 10,655 | |
Ending balance, shares at Jun. 30, 2019 | 7,072,062 | ||||||
Beginning balance at Mar. 31, 2019 | 46,313 | 8,871 | 12,776 | 14,971 | (960) | 10,655 | |
Beginning balance, shares at Mar. 31, 2019 | 7,097,227 | ||||||
Net Income | 951 | 811 | 140 | ||||
Repurchase of common stock | (124) | (31) | (93) | ||||
Repurchase of common stock, shares | (25,165) | ||||||
Other comprehensive income (loss) | 1,053 | 1,053 | |||||
Record preferred stock dividend Series B (noncontrolling interest) | (103) | (103) | |||||
Record preferred stock dividend Series C (noncontrolling interest) | (37) | (37) | |||||
Ending balance at Jun. 30, 2019 | $ 48,053 | $ 8,840 | $ 12,683 | $ 15,782 | $ 93 | $ 10,655 | |
Ending balance, shares at Jun. 30, 2019 | 7,072,062 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities | ||
Net Income | $ 1,641 | $ 701 |
Adjustments to reconcile net income to net cash Provided (used) by operating activities: | ||
Depreciation and amortization | 536 | 515 |
Provision for (recovery of) loan losses | (428) | 116 |
Gain on sale of premises and equipment | (4) | |
Loss on sale of OREO | 38 | 27 |
Net amortization of premium on investment securities AFS | 341 | 364 |
Net amortization of premium on investment securities HTM | 70 | 75 |
Net amortization of mortgage servicing rights | 332 | 346 |
Originations and purchases of mortgage loans for sale | (54,120) | (48,033) |
Proceeds from sales of mortgage loans for sale | 56,076 | 46,809 |
Accrued interest receivable | 30 | (5) |
Prepaid assets | (551) | (364) |
Cash surrender value of life insurance | (55) | (67) |
Miscellaneous other assets | 367 | (275) |
Accrued interest payable | 31 | 1 |
Miscellaneous other liabilities | 2,486 | 696 |
Net cash provided by operating activities | 6,790 | 906 |
Cash flows from investing activities | ||
Proceeds from maturities, calls & paydowns of investment securities held to maturity | 128 | 265 |
Proceeds from maturities, calls & paydowns of investment securities available for sale | 15,975 | 3,709 |
Purchase of investment securities available for sale | (10,438) | |
Net change in restricted stock | (50) | (27) |
Net increase in loans | (4,363) | (13,857) |
Purchase of premises and equipment | (2,721) | (851) |
Proceeds from sale of OREO | 323 | 1,043 |
Proceeds from sales of premises, equipment and other assets | 166 | |
Net cash used in investing activities | (980) | (9,718) |
Cash flows from financing activities | ||
Net increase (decrease) in deposit accounts | (9,985) | 38,025 |
Net increase in federal funds purchased and securities sold under agreements to repurchase and other short-term borrowings | (351) | (230) |
Common stock repurchased | (270) | (142) |
Exercise of stock options | 65 | |
Dividends paid on preferred stock (noncontrolling interest) | (280) | (284) |
Net cash provided (used) by financing activities | (10,886) | 37,434 |
Increase (decrease) in cash and cash equivalents | (5,076) | 28,622 |
Cash and cash equivalents, beginning of period | 117,934 | 70,403 |
Cash and cash equivalents, end of period | 112,858 | 99,025 |
Supplemental Disclosures of Cash Flow Information | ||
Interest paid | 1,662 | 765 |
Income taxes paid | 508 | 335 |
Supplemental Schedule of Non-Cash Activities | ||
Net change in fair value securities available for sale, net of tax | 1,787 | (959) |
Loans transferred to foreclosed real estate | 160 | |
Mortgage servicing rights capitalized | $ 243 | $ 169 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | Note 1 – Basis of Presentation The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Uwharrie Investment Advisors, Inc. (“UIA”), and Uwharrie Mortgage, Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly owned by the Bank. The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management is not aware of economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2018 Annual Report on Form 10-K. This Quarterly Report should be read in conjunction with such Annual Report. Use of Estimates The preparation of financial statements, in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. Accounting Changes, Reclassifications and Restatements Certain amounts in the 2018 financial statements have been reclassified to conform to the 2019 presentation. These reclassifications do not have a material impact on net income or shareholders’ equity. Accounting Standards Update (“ASU”) 2016-02 “Leases, Topic 842” was adopted January 1, 2019 and comparative periods have not been restated. At the time of adoption, Uwharrie Capital Corp currently had two properties that were considered in-scope for application of ASU 2016-02. The Company has recognized a $2.1 million operating lease right-of-use asset (“ROU”), which is included in premises and equipment on the balance sheet, and a corresponding $2.2 million operating lease liability, recorded in other liabilities on the balance sheet. See Note 9 – Leases for additional information. During the second quarter of 2019, the Company reclassified its reserve for unfunded liabilities (i.e. lines of credit that were available, but not yet drawn by the customer) of $86,000 from allowance for loan loss to other liabilities. There was no impact to the income statement for this reclassification. . |
Comprehensive Income
Comprehensive Income | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Comprehensive Income | Note 2 – Comprehensive Income The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale. The following table presents the changes in accumulated other comprehensive income for the three and six months ended June 30, 2019 and 2018: For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (dollars in thousands) Beginning balance $ (960 ) $ (1,956 ) $ (1,694 ) $ (1,107 ) Other comprehensive income (loss) before reclassifications, net of $314, ($32), $533 and ($282) tax effect, respectively 1,053 (110 ) 1,787 (959 ) Amounts reclassified from accumulated other comprehensive income — — — — Net current-period other comprehensive income (loss) 1,053 (110 ) 1,787 (959 ) Ending balance $ 93 $ (2,066 ) $ 93 $ (2,066 ) |
Noncontrolling Interest
Noncontrolling Interest | 6 Months Ended |
Jun. 30, 2019 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest | Note 3 – Noncontrolling Interest In January 2013, the Company’s subsidiary banks issued a total of $7.9 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series B. The preferred stock qualified as Tier 1 capital at each bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. This capital is presented as noncontrolling interest in the consolidated balance sheets. Dividends declared on this preferred stock are presented as earnings allocated to the noncontrolling interest in the consolidated statements of income. Effective September 1, 2013, the Fixed Rate Noncumulative Perpetual Preferred Stock, Series B was rolled into one issue under Uwharrie Bank in connection with the consolidation of the Company’s subsidiary banks and corresponding name change. During 2013, the Company’s subsidiary bank, Uwharrie Bank, raised $2.8 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series C. The preferred stock qualifies as Tier 1 capital at the Bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. |
Per Share Data
Per Share Data | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Per Share Data | Note 4 – Per Share Data Basic and diluted net income per common share is computed based on the weighted average number of shares outstanding during each period after retroactively adjusting for stock dividends. Diluted net income per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income of the Company. The Company had no stock options outstanding at June 30, 2019 or December 31, 2018. Basic and diluted net income per common share have been computed based upon net income available to common shareholders as presented in the accompanying consolidated statements of income divided by the weighted average number of common shares outstanding or assumed to be outstanding. The computation of basic and diluted earnings per share is summarized below: For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Weighted average number of common shares outstanding 7,095,756 7,249,390 7,110,578 7,251,978 Effect of dilutive stock options — — — — Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share 7,095,756 7,249,390 7,110,578 7,251,978 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2019 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 5 – Investment Securities Carrying amounts and fair values of securities available for sale and held to maturity are summarized below: June 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,960 $ 48 $ — $ 5,008 U.S. Government agencies 33,244 9 250 33,003 GSE - Mortgage-backed securities and CMO’s 32,112 406 198 32,320 State and political subdivisions 12,281 157 2 12,436 Corporate bonds 5,024 5 55 4,974 Total securities available for sale $ 87,621 $ 625 $ 505 $ 87,741 June 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 723 $ 15 $ — $ 738 State and political subdivisions 6,851 41 1 6,891 Corporate bonds 3,065 10 — 3,075 Total securities held to maturity $ 10,639 $ 66 $ 1 $ 10,704 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,944 $ 11 $ — $ 4,955 U.S. Government agencies 52,935 47 1,066 51,916 GSE - Mortgage-backed securities and CMO’s 17,217 — 515 16,702 State and political subdivisions 13,373 5 423 12,955 Corporate bonds 5,030 6 265 4,771 Total securities available for sale $ 93,499 $ 69 $ 2,269 $ 91,299 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 855 $ — $ 12 $ 843 State and political subdivisions 6,877 6 61 6,822 Corporate bonds 3,105 — 20 3,085 Total securities held to maturity $ 10,837 $ 6 $ 93 $ 10,750 At June 30, 2019 and December 31, 2018, the Company owned Federal Reserve Bank (FRB) stock reported at cost of $509,000 for both periods, and Federal Home Loan Bank (FHLB) stock of $635,000 and $585,000, respectively. The investments in FRB stock and FHLB stock are required investments related to the Company’s membership in, and borrowings with, these banks and is classified as restricted stock on the consolidated balance sheet. These investments are carried at cost since there is no ready market and redemption has historically been made at par value. The Company estimated that the fair value approximated cost and that these investments were not impaired at June 30, 2019. There were no sales of securities available for sale for the three and six month periods ended June 30, 2019 and June 30, 2018. At June 30, 2019 and December 31, 2018, securities available for sale with a carrying amount of $68.9 million and $71.5 million, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. The following tables show the gross unrealized losses and fair value of investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2019 and December 31, 2018. These unrealized losses on investment securities are a result of temporary fluctuations in market prices due to a rise in interest rates, which will adjust if rates decline, and are in no way a reflection of the credit quality of the investments. At June 30, 2019, the unrealized losses on available for sale securities less than twelve months related to two government agency bonds and one corporate bond. The Company had fourteen government agency bonds, sixteen GSE mortgage backed securities, one state and political subdivision bond, and one corporate bond at June 30, 2019, that had been in a loss position for twelve months or more. At June 30, 2019, the unrealized losses on held to maturity securities for twelve months or more related to one state and political subdivision bond. At December 31, 2018, the unrealized losses on available for sale securities less than twelve months related to four government agency bonds, one GSE mortgage backed security, and one corporate bond. At December 31, 2018, the Company had sixteen government agency bonds, sixteen GSE mortgage backed securities, eight state and political subdivision bonds, and one corporate bond that had been in a loss position for twelve months or more. Less than 12 Months 12 Months or More Total June 30, 2019 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 581 $ 2 $ 27,561 $ 248 $ 28,142 $ 250 GSE-Mortgage-backed securities and CMO’s — — 19,553 198 19,553 198 State and political subdivisions — — 715 2 715 2 Corporate bonds 2,161 50 2,004 5 4,165 55 Total securities available for sale $ 2,742 $ 52 $ 49,833 $ 453 $ 52,575 $ 505 Less than 12 Months 12 Months or More Total June 30, 2019 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment State and political subdivisions $ — $ — $ 1,009 $ 1 $ 1,009 $ 1 Total securities held to maturity $ — $ — $ 1,009 $ 1 $ 1,009 $ 1 Less than 12 Months 12 Months or More Total December 31, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 1,924 $ 29 $ 47,814 $ 1,037 $ 49,738 $ 1,066 GSE-Mortgage-backed securities and CMO’s 526 6 15,602 509 16,128 515 State and political subdivisions — — 11,109 423 11,109 423 Corporate bonds 1,989 224 1,971 41 3,960 265 Total securities available for sale $ 4,439 $ 259 $ 76,496 $ 2,010 $ 80,935 $ 2,269 Less than 12 Months 12 Months or More Total December 31, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment U.S. Government agencies $ — $ — $ 843 $ 12 $ 843 $ 12 State and political subdivisions 755 6 5,157 55 5,912 61 Corporate bonds 3,085 20 — — 3,085 20 Total securities held to maturity $ 3,840 $ 26 $ 6,000 $ 67 $ 9,840 $ 93 Declines in the fair value of the investment portfolio are believed by management to be temporary in nature. When evaluating an investment for other-than-temporary impairment, management considers, among other things, the length of time and the extent to which the fair value has been in a loss position, the financial condition of the issuer and the intent and the ability of the Company to hold the investment until the loss position is recovered. Any unrealized losses were largely due to increases in market interest rates over the yields available at the time of purchase. The fair value is expected to recover as the bonds approach their maturity date or market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of quality but that the losses are temporary in nature. At June 30, 2019, the Company does not intend to sell and is not likely to be required to sell the available for sale securities that were in a loss position prior to full recovery. The aggregate amortized cost and fair value of the available for sale securities portfolio at June 30, 2019 by remaining contractual maturity are as follows: June 30, 2019 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U.S. Treasury Due after one but within five years 4,960 5,008 2.66 % 4,960 5,008 2.66 % U.S. Government agencies Due within twelve months 5,436 5,428 1.38 % Due after one but within five years 18,945 18,851 1.55 % Due after five but within ten years 6,827 6,694 1.94 % Due after ten years 2,036 2,030 1.28 % 33,244 33,003 1.59 % Mortgage-backed securities Due after one but within five years 7,413 7,380 2.02 % Due after five but within ten years 17,469 17,812 2.59 % Due after ten years 7,230 7,128 2.14 % 32,112 32,320 2.36 % State and political subdivisions Due after one but within five years 1,337 1,336 3.64 % Due after five but within ten years 1,413 1,422 2.73 % Due after ten years 9,531 9,678 3.10 % 12,281 12,436 3.12 % Corporate bonds Due after one but within five years 5,024 4,974 2.94 % 5,024 4,974 2.94 % Total securities available for sale Due within twelve months 5,436 5,428 1.38 % Due after one but within five years 37,679 37,549 2.05 % Due after five but within ten years 25,709 25,928 2.43 % Due after ten years 18,797 18,836 2.53 % $ 87,621 $ 87,741 2.22 % June 30, 2019 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Held to maturity U. S. Government agencies Due after one but within five years $ 723 $ 738 2.57 % 723 738 2.57 % State and political subdivisions Due after one but within five years 5,527 5,551 2.21 % Due after five but within ten years 1,324 1,340 2.42 % 6,851 6,891 2.25 % Corporate Bonds Due within twelve months 1,523 1,526 2.73 % Due after one but within five years 1,542 1,549 2.79 % 3,065 3,075 2.76 % Total securities held for maturity Due within twelve months 1,523 1,526 2.73 % Due after one but within five years 7,792 7,838 2.36 % Due after five but within ten years 1,324 1,340 2.42 % $ 10,639 $ 10,704 2.42 % |
Loans Held for Investment
Loans Held for Investment | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans Held for Investment | Note 6 – Loans Held for Investment The composition of net loans held for investment by class as of June 30, 2019 and December 31, 2018 are as follows: June 30, 2019 December 31, 2018 (dollars in thousands) Commercial Commercial $ 61,452 $ 57,176 Real estate - commercial 143,720 130,634 Other real estate construction loans 21,384 31,141 Noncommercial Real estate 1-4 family construction 6,906 7,805 Real estate - residential 75,553 76,564 Home equity 51,094 52,541 Consumer loans 12,706 12,159 Other loans 2,012 2,110 374,827 370,130 Less: Allowance for loan losses (2,179 ) (2,374 ) Deferred loan (fees) costs, net (261 ) (160 ) Loans held for investment, net $ 372,387 $ 367,596 |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 7 – Allowance for Loan Losses During the second quarter of 2019, the Company transitioned its current in-house incurred loss allowance for loan loss model to an external vendor incurred loss model that is CECL-ready. The overall financial impact related to switching models is considered immaterial. As a result of the change in models, there has been a change is methodology. For example, default in the allowance for loan loss model is now considered 90 days past due, whereas default was defined as a charge-off event in the previous model. This increases the probabilities of default for the Company, but reduces the loss given default ratio in the portfolio. Probabilities of default are now more representative of the Company’s customers. Previously, an analysis was performed with a sample of North Carolina consumers to calculate the probabilities of default by credit score. In the new model, the Company is able to track probabilities of default based on historical information of loans in the portfolio. This is the largest impact of the model transition, resulting in an immaterial recovery of provision for loan loss. In addition, the Company now uses better defined qualitative factors including qualitative factors to model recessionary impact to expected loss based on historical impact, current volatility in the market, and management’s analysis of local economic factors and industry-specific outlooks. The following table shows the change in the allowance for loss losses by loan segment for the three and six months ended June 30, 2019 and 2018, respectively: Commercial Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning of period $ 1,281 $ 1,461 $ 1,334 $ 1,401 Provision for (recovery of) loan losses (350 ) 21 (414 ) 66 Charge-offs — (31 ) (5 ) (31 ) Recoveries 341 9 357 24 Net (charge-offs) / Recoveries 341 (22 ) 352 (7 ) Reclassification of reserve for off balance sheet commitments (32 ) — (32 ) — Balance at end of period $ 1,240 $ 1,460 $ 1,240 $ 1,460 Non-Commercial Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning of period $ 952 $ 1,086 $ 1,040 $ 1,057 Provision for (recovery of) loan losses 35 17 (14 ) 50 Charge-offs (12 ) (40 ) (65 ) (57 ) Recoveries 18 60 32 73 Net (charge-offs) / Recoveries 6 20 (33 ) 16 Reclassification of reserve for off balance sheet commitments (54 ) — (54 ) — Balance at end of period $ 939 $ 1,123 $ 939 $ 1,123 Total Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning of period $ 2,233 $ 2,547 $ 2,374 $ 2,458 Provision for (recovery of) loan losses (315 ) 38 (428 ) 116 Charge-offs (12 ) (71 ) (70 ) (88 ) Recoveries 359 69 389 97 Net (charge-offs) / Recoveries 347 (2 ) 319 9 Reclassification of reserve for off balance sheet commitments (86 ) — (86 ) — Balance at end of period $ 2,179 $ 2,583 $ 2,179 $ 2,583 The following table shows period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at June 30, 2019 and December 31, 2018: June 30, 2019 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 29 $ 1,774 $ 1,211 $ 224,782 $ 1,240 $ 226,556 Non-Commercial 126 3,218 813 144,792 939 148,010 Total $ 155 $ 4,992 $ 2,024 $ 369,574 $ 2,179 $ 374,566 December 31, 2018 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 42 $ 1,359 $ 1,292 $ 217,592 $ 1,334 $ 218,951 Non-Commercial 112 3,119 928 147,900 1,040 151,019 Total $ 154 $ 4,478 $ 2,220 $ 365,492 $ 2,374 $ 369,970 Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following table summarizes the past due information of the loan portfolio by class: June 30, 2019 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ 46 $ — $ 46 $ 61,406 $ 61,452 $ — Real estate - commercial — 173 173 143,547 143,720 — Other real estate construction — — — 21,384 21,384 — Real estate 1-4 family construction — — — 6,906 6,906 — Real estate - residential 767 760 1,527 73,765 75,292 — Home equity 211 168 379 50,715 51,094 — Consumer loans 32 — 32 12,674 12,706 — Other loans — — — 2,012 2,012 — Total $ 1,056 $ 1,101 $ 2,157 $ 372,409 $ 374,566 $ — December 31, 2018 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ 54 $ — $ 54 $ 57,122 $ 57,176 $ — Real estate - commercial — 273 $ 273 130,361 130,634 — Other real estate construction — 47 $ 47 31,094 31,141 — Real estate 1-4 family construction — — — 7,805 7,805 — Real estate - residential 890 606 1,496 74,908 76,404 — Home equity 100 118 218 52,323 52,541 — Consumer loan 86 — 86 12,073 12,159 — Other loans — — — 2,110 2,110 — Total $ 1,130 $ 1,044 $ 2,174 $ 367,796 $ 369,970 $ — Once a loan becomes 90 days past due, the loan is automatically transferred to a nonaccrual status. The exception to this policy is credit card loans that remain in accruing status 90 days or more until they are paid current or charged off. The Company had $115,000 in foreclosed residential real estate and $497,000 of residential real estate in process of foreclosure at June 30, 2019. At December 31, 2018, the Company had $371,000 in foreclosed residential real estate and $161,000 of residential real estate in process of foreclosure. The composition of nonaccrual loans by class as of June 30, 2019 and December 31, 2018 is as follows: June 30, 2019 December 31, 2018 (dollars in thousands) Commercial $ — $ — Real estate - commercial 173 273 Other real estate construction — 47 Real estate 1 – 4 family construction — — Real estate – residential 760 606 Home equity 168 118 Consumer loans — — Other loans — — $ 1,101 $ 1,044 Management uses a risk-grading program to facilitate the evaluation of probable inherent loan losses and to measure the adequacy of the allowance for loan losses. In this program, risk grades are initially assigned by the loan officers and reviewed and monitored by the lenders and credit administration. The program has eight risk grades summarized in five categories as follows: Pass : Loans that are pass grade credits include loans that are fundamentally sound and risk factors are reasonable and acceptable. They generally conform to policy with only minor exceptions and any major exceptions are clearly mitigated by other economic factors. Watch : Loans that are watch credits include loans on management’s watch list where a risk concern may be anticipated in the near future. Substandard : Loans that are considered substandard are loans that are inadequately protected by current sound net worth, paying capacity of the obligor or the value of the collateral pledged. All nonaccrual loans are graded as substandard. Doubtful: Loans that are considered to be doubtful have all weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make the collection or liquidation in full on the basis of current existing facts, conditions and values highly questionable and improbable. Loss: Loans that are considered to be a loss are considered to be uncollectible and of such little value that their continuance as bankable assets is not warranted. The tables below summarize risk grades of the loan portfolio by class at June 30, 2019 and December 31, 2018: June 30, 2019 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 59,495 $ 1,950 $ 7 $ — $ 61,452 Real estate - commercial 137,847 4,426 1,447 — 143,720 Other real estate construction 19,205 1,866 313 — 21,384 Real estate 1 - 4 family construction 6,906 — — — 6,906 Real estate - residential 69,949 4,315 1,028 — 75,292 Home equity 49,986 940 168 — 51,094 Consumer loans 12,615 85 6 — 12,706 Other loans 2,012 — — — 2,012 Total $ 358,015 $ 13,582 $ 2,969 $ — $ 374,566 December 31, 2018 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 55,883 $ 1,284 $ 9 $ — $ 57,176 Real estate - commercial 127,592 1,518 1,524 — 130,634 Other real estate construction 28,711 2,070 360 — 31,141 Real estate 1 - 4 family construction 7,805 — — — 7,805 Real estate - residential 69,900 5,470 1,034 — 76,404 Home equity 52,028 395 118 — 52,541 Consumer loans 12,085 73 1 — 12,159 Other loans 2,110 — — — 2,110 Total $ 356,114 $ 10,810 $ 3,046 $ — $ 369,970 Loans that are in nonaccrual status or 90 days past due and still accruing are considered to be nonperforming. At both June 30, 2019 and December 31, 2018 there were no loans 90 days past due and still accruing. The following tables show the breakdown between performing and nonperforming loans by class at June 30, 2019 and December 31, 2018: June 30, 2019 Performing Non- Performing Total (dollars in thousands) Commercial $ 61,452 $ — $ 61,452 Real estate - commercial 143,547 173 143,720 Other real estate construction 21,384 — 21,384 Real estate 1 – 4 family construction 6,906 — 6,906 Real estate – residential 74,532 760 75,292 Home equity 50,926 168 51,094 Consumer loans 12,706 — 12,706 Other loans 2,012 — 2,012 Total $ 373,465 $ 1,101 $ 374,566 December 31, 2018 Performing Non- Performing Total (dollars in thousands) Commercial $ 57,176 $ — $ 57,176 Real estate - commercial 130,361 273 130,634 Other real estate construction 31,094 47 31,141 Real estate 1 – 4 family construction 7,805 — 7,805 Real estate – residential 75,798 606 76,404 Home equity 52,423 118 52,541 Consumer loans 12,159 — 12,159 Other loans 2,110 — 2,110 Total $ 368,926 $ 1,044 $ 369,970 Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement. If a loan is deemed impaired, a specific calculation is performed and a specific reserve is allocated, if necessary. The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at June 30, 2019 and December 31, 2018. June 30, 2019 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 5 $ — $ 5 $ — Real estate - commercial 1,724 536 1,188 26 Other real estate construction 45 — 45 3 Real estate 1 - 4 family construction — — — — Real estate - residential 3,023 1,023 2,000 97 Home equity 168 50 118 29 Consumer loans 27 — 27 — Other loans — — — — Total $ 4,992 $ 1,609 $ 3,383 $ 155 December 31, 2018 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 7 $ — $ 7 $ — Real estate - commercial 1,258 93 1,165 38 Other real estate construction 632 47 47 4 Real estate 1 - 4 family construction — — — — Real estate - residential 3,005 901 2,104 110 Home equity 83 51 32 1 Consumer loans 31 — 31 1 Other loans — — — — Total $ 5,016 $ 1,092 $ 3,386 $ 154 Three Months ended June 30, 2019 Three Months ended June 30, 2018 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 6 $ — $ 25 $ — Real estate - commercial 1,434 15 1,541 15 Other real estate construction 69 — 123 — Real estate 1- 4 family construction — — — — Real estate - residential 2,975 33 3,540 41 Home equity 124 3 66 2 Consumer loans 28 — 38 — Other loans — — — — Total $ 4,636 $ 51 $ 5,333 $ 58 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 6 $ — $ 32 $ — Real estate - commercial 1,375 35 1,566 30 Other real estate construction 77 1 132 2 Real estate 1- 4 family construction — — — — Real estate - residential 2,985 72 3,598 82 Home equity 110 4 55 2 Consumer loans 29 1 41 1 Other loans — — — — Total $ 4,582 $ 113 $ 5,424 $ 117 |
Troubled Debt Restructures
Troubled Debt Restructures | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Troubled Debt Restructures | Note 8 – Troubled Debt Restructures A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification involves providing a concession to the existing loan contract. The Company offers various types of concessions when modifying loans to troubled borrowers, however, forgiveness of principal is rarely granted. Concessions offered are term extensions, capitalizing accrued interest, reducing interest rates to below current market rates or a combination of any of these. Combinations from time to time may include allowing a customer to be placed on interest-only payments. The presentations below in the “other” category are TDRs with a combination of concessions. At the time of a TDR, additional collateral or a guarantor may be requested. Loans modified as TDRs are typically already on nonaccrual status and in some cases, partial charge-offs may have already been taken against the outstanding loan balance. The Company classifies TDR loans as impaired loans and evaluates the need for an allowance for loan loss on a loan-by-loan basis. An allowance is based on either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the estimated fair value of the underlying collateral less any selling costs, if the loan is deemed to be collateral dependent. At June 30, 2019, the Company had $3.9 million in TDRs outstanding, of which one with a balance of $28,000 was on a non-accruing basis. For the three and six months ended June 30, 2019 and 2018, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended June 30, 2019 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial 1 1,629 857 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential — — — Home equity — — — Consumer loans — — — Other loans — — — Total 1 $ 1,629 $ 857 For the three months ended June 30, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 387 387 Home equity — — — Consumer loans — — — Other loans — — — Total 3 $ 387 $ 387 For the six months ended June 30, 2019 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial 1 1,629 857 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 217 198 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 1,846 $ 1,055 For the six months ended June 30, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 4 445 444 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 445 $ 444 During the twelve months ended for June 30, 2019, there were two TDRs for which there was a payment default. During the twelve months ended June 30, 2018, there was one TDR for which there was a payment default. A default on a TDR is defined as being past due 90 days or being out of compliance with the modification agreement. As previously mentioned, the Company considers TDRs to be impaired loans and has $117,000 in the allowance for loan losses as of June 30, 2019, as a direct result of these TDRs. At June 30, 2018, there was $156,000 in the allowance for loan losses related to TDRs. The following table presents the status of the types of loan modifications within the previous twelve months as of June 30, 2019 and 2018: Paid In Full Paying as restructured Converted to nonaccrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) June 30, 2019 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 5 895 4 1,847 — — 2 282 Total 5 $ 895 4 $ 1,847 — $ — 2 $ 282 June 30, 2018 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 5 109 8 687 — — 1 17 Total 5 $ 109 8 $ 687 — $ — 1 $ 17 The Company has not committed to fund any additional disbursements for TDRs as of June 30, 2019. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2019 | |
Lessee Disclosure [Abstract] | |
Leases | Note 9 - Leases Operating leases in which we are the lessee are recorded as operating lease right of use (“ROU”) assets and operating lease liabilities, included in premises and equipment and other liabilities, respectively, on our consolidated balance sheet. We do not currently have any significant finance leases in which we are the lessee. Operating lease ROU assets represent our right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents our incremental collateralized borrowing rate at the lease commencement date. ROU assets are further adjusted for the lease incentives. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in the net occupancy expense in the consolidated statement of income. Our leases relate to three office locations, two of which are branch locations, with remaining terms of two to ten years. Certain lease arrangements contain extension options which range from five to ten years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. As of June 30, 2019, operating lease ROU assets were $2.1 million and the lease liability was $2.2 million. Lease costs associated with all leases is $133,000 and $244,000 for the three and six months ended June 30, 2019, respectively. The table below summarizes other information related to our operating leases: Six Months Ended June 30, 2019 (in thousands except percent and period data) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 169 Right-of-use assets obtained in exchange for new operating lease liabilities 2,107 Weighted-average remaining lease term - operating leases, in years 7.9 Weighted-average discount rate - operating leases 2.8 % The table below summarizes the maturity of remaining lease liabilities: June 30, 2019 (in thousands) 2019 $ 188 2020 381 2021 347 2022 225 2023 229 2024 and thereafter 1,079 Total lease payments 2,449 Less: Interest (280 ) Present value of lease liabilities 2,169 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 10 - Commitments and Contingencies The Company’s subsidiary bank is 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, lines of credit and standby letters of credit. These instruments involve elements of credit risk in excess of amounts recognized in the accompanying financial statements. The Bank’s risk of loss with unfunded loans and lines of credit or standby letters of credit is represented by the contractual amount of these instruments. The Bank uses the same credit policies in making commitments under such instruments as it does for on-balance sheet instruments. The amount of collateral obtained, if any, is based on management’s credit evaluation of the borrower. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Credit card commitments are unsecured. At June 30, 2019, outstanding financial instruments whose contract amounts represent credit risk were approximately: (dollars in thousands) Commitments to extend credit $ 118,650 Credit card commitments 11,278 Standby letters of credit 1,044 Total commitments $ 130,972 |
Fair Value Disclosures
Fair Value Disclosures | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Note 11 – Fair Value Disclosures Accounting Standards Codification (“ASC”) 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 does not require any new fair value measurements but clarifies and standardizes some divergent practices that have emerged since prior guidance was issued. ASC 820 creates a three-level hierarchy under which individual fair value estimates are to be ranked based on the relative ASC 820 defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which those assets or liabilities are sold and considers assumptions that market participants would use when pricing those assets or liabilities. Fair values determined using Level 1 inputs rely on active and observable markets to price identical assets or liabilities. In situations where identical assets and liabilities are not traded in active markets, fair values may be determined based on Level 2 inputs, which exist when observable data exists for similar assets and liabilities. Fair values for assets and liabilities for which identical or similar assets and liabilities are not actively traded in observable markets are based on Level 3 inputs, which are considered to be unobservable. Among the Company’s assets and liabilities, investment securities available for sale are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including other real estate owned, impaired loans, loans held for sale, which are carried at the lower of cost or market value; loan servicing rights, where fair value is determined using similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions; and goodwill, which is periodically tested for impairment. Deposits, short-term borrowings and long-term obligations are not reported at fair value. Prices for U.S. Treasury securities are readily available in the active markets in which those securities are traded, and the resulting fair values are shown in the “Level 1 input” column. Prices for government agency securities, mortgage-backed securities and for state, county and municipal securities are obtained for similar securities, and the resulting fair values are shown in the “Level 2 input” column. Prices for all other non-marketable investments are determined based on various assumptions that are not observable. The fair values for these investment securities are shown in the “Level 3 input” column. Non-marketable investment securities, which are carried at their purchase price, include those that may only be redeemed by the issuer. The changes in securities between Level 1 and Level 2 were related to the purchase and sale of several securities and not the transfer of securities. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment by using one of several methods including collateral value, fair value of similar debt or discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the present value of the expected repayments or fair value of collateral exceed the recorded investments in such loans. The Company typically bases the fair value of the collateral on appraised values which the Company considers Level 3 valuations. Foreclosed assets are adjusted to fair value upon transfer of the loans to other real estate owned. Real estate acquired in settlement of loans is recorded initially at the estimated fair value of the property less estimated selling costs at the date of foreclosure. The initial recorded value may be subsequently reduced by additional allowances, which are charged to earnings if the estimated fair value of the property less estimated selling costs declines below the initial recorded value. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. The Company typically bases the fair value of the collateral on appraised values which the Company considers Level 3 valuations. Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate, based on secondary market prices. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. These loans are recorded in Level 2 The following table provides fair value information for assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018: June 30, 2019 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Treasury $ 5,008 $ 5,008 $ — $ — U.S. Government agencies 33,003 — 33,003 $ — GSE - Mortgage-backed securities and CMO’s 32,320 — 32,320 — State and political subdivisions 12,436 — 12,436 — Corporate bonds 4,974 — 4,974 — Total assets at fair value $ 87,741 $ 5,008 $ 82,733 $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2018 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Treasury $ 4,955 $ 4,955 $ — $ — U.S. Government agencies 51,916 — 51,916 — GSE - Mortgage-backed securities and CMO’s 16,702 — 16,702 — State and political subdivisions 12,955 — 12,955 — Corporate bonds 4,771 — 4,771 — Total assets at fair value $ 91,299 $ 4,955 $ 86,344 $ — Total liabilities at fair value $ — $ — $ — $ — The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. These include assets that are measured at the lower of cost or market value that were recognized at fair value less cost to sell at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of June 30, 2019 and December 31, 2018: June 30, 2019 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,228 $ — $ — $ 3,228 Other real estate owned 686 — — 686 Total assets at fair value $ 3,914 $ — $ — $ 3,914 Total liabilities at fair value $ — $ — $ — $ — December 31, 2018 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,279 $ — $ — $ 3,279 Other real estate owned 951 — — 951 Total assets at fair value $ 4,230 $ — $ — $ 4,230 Total liabilities at fair value $ — $ — $ — $ — Quantitative Information about Level 3 Fair Value Measurements June 30, 2019 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount Rate 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% December 31, 2018 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% At June 30, 2019, impaired loans were being evaluated with discounted expected cash flows and discounted appraisals were being used on collateral dependent loans. |
Fair Values of Financial Instru
Fair Values of Financial Instruments and Interest Rate Risk | 6 Months Ended |
Jun. 30, 2019 | |
Investments All Other Investments [Abstract] | |
Fair Values of Financial Instruments and Interest Rate Risk | Note 12 – ASC 825, “Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring basis or non-recurring basis. The fair value estimates presented at June 30, 2019 and December 31, 2018 are based on relevant market information and information about the financial instruments. Fair value estimates are intended to represent the price an asset could be sold at or the price at which a liability could be settled. However, given there is no active market or observable market transactions for many of the Company’s financial instruments, the Company has made estimates of many of these fair values which are subjective in nature, involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimated values. The estimated fair values disclosed in the following table do not represent market values of all assets and liabilities of the Company and should not be interpreted to represent the underlying value of the Company. The valuations at June 30, 2019 are observed under the exit price notion as a result of adoption of ASU 2016-01. The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of June 30, 2019 and December 31, 2018: June 30, 2019 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 112,858 $ 112,853 $ 110,617 $ 2,236 $ — Securities available for sale 87,741 87,741 5,008 82,733 — Securities held to maturity 10,639 10,704 — 10,704 — Loans held for investment, net 374,566 373,442 — — 373,442 Loans held for sale 2,517 2,517 — 2,517 — Restricted stock 1,144 1,144 1,144 — — Loan servicing rights 1,657 3,338 — 3,338 — Accrued interest receivable 1,733 1,733 — — 1,733 FINANCIAL LIABILITIES Deposits $ 556,916 $ 530,741 $ — $ 530,741 $ — Short-term borrowings 839 839 — 839 — Long-term borrowings 9,974 9,984 — — 9,984 Accrued interest payable 47 47 — — 47 December 31, 2018 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 117,934 $ 117,901 $ 115,693 $ 2,208 $ — Securities available for sale 91,299 91,299 4,955 86,344 — Securities held to maturity 10,837 10,750 — 10,750 — Loans held for investment, net 367,596 364,636 — — 364,636 Loans held for sale 4,800 4,800 — 4,800 — Restricted stock 1,094 1,094 1,094 — — Mortgage servicing rights 1,850 3,455 — 3,455 Accrued interest receivable 1,763 1,763 — — 1,763 FINANCIAL LIABILITIES Deposits 566,901 521,508 — 521,508 — Short-term borrowings 1,190 1,190 — 1,190 — Long-term debt 9,974 10,086 — — 10,086 Accrued interest payable 16 16 — — 16 The following methods and assumptions were used by the Company in estimating the fair value of financial instruments: • Cash and cash equivalents – The carrying amount of cash and cash equivalents approximate their fair values due to the short period of time until their expected realization and are recorded in Level 1, with the exception of time deposits due from banks that are in Level 2. • Securities available for sale – Securities available for sale are carried at fair value based on quoted and observable market prices and are recorded in Levels 1 and 2. Also see discussion in Note 5. • Securities held to maturity – Securities held to maturity are carried at amortized cost and are recorded in Level 2. • Loans – The fair value of loans is estimated based on discounted expected cash flows using the current interest rates at which similar loans would be made, a future expected credit loss based on historical charge-offs, and a liquidity discount based on the overall risk grade of the loan portfolio. These loans are carried in Level 3. Loans held for sale, which represent current mortgage production forward sales not yet delivered, are valued based on secondary market prices. The fair value of loans held for sale does not consider uncertainty in the market that would affect the valuation. Loans held for sale are recorded in Level 2. • Restricted stock – It is not practicable to determine fair value of restricted stock, which is comprised of Federal Home Loan Bank and Federal Reserve Bank stock, due to restrictions placed on its transferability and it is presented at its carrying value and is recorded in Level 1 due to the redemption provisions of the Federal Home Loan Bank and the Federal Reserve Bank stock. • Loan servicing rights – The fair value disclosed for loan servicing rights is based on an independent market valuation and is recorded at Level 2. • Accrued interest receivable and payable – Both accrued interest receivable and payable are recorded in Level 3, as there are not active markets for these. • Deposits – The fair value of deposits is estimated based on discounted cash flow analyses using offered market rates and is recorded in Level 2. The fair value of deposits does not consider any customer-related intangibles. • Borrowings – The fair value disclosed for short-term borrowings, which are composed of overnight borrowings and debt due within one year approximate the carrying value for such debt and is recorded in Level 2. The estimated fair value for long-term borrowings are estimated based on discounted cash flow analyses using offered market rates. Total borrowings are carried in Level 2. Long-term debt is fair valued based on discounted cash flow analyses and is recorded in Level 3. At June 30, 2019, the subsidiary bank had outstanding standby letters of credit and commitments to extend credit. These off-balance sheet financial instruments are generally exercisable at the market rate prevailing at the date the underlying transaction will be completed; therefore, the fair value is the fee the Bank is expected to receive. This amount is deemed immaterial by management. See Note 10. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 13 – Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in earlier recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. Entities will apply the standard’s provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. On July 17, 2019, FASB voted to propose a delay in implementation of CECL until January 2023 for certain companies, which includes smaller reporting companies (as defined by the SEC). The Company qualifies as a smaller reporting company. The Company is currently revising their implementation project plan to allow for additional time to evaluate the impact and effectively implement the standard. From time to time, the FASB issues exposure drafts of proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Uwharrie Investment Advisors, Inc. (“UIA”), and Uwharrie Mortgage, Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly owned by the Bank. The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management is not aware of economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2018 Annual Report on Form 10-K. This Quarterly Report should be read in conjunction with such Annual Report. |
Use of Estimates | Use of Estimates The preparation of financial statements, in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. |
Accounting Changes, Reclassifications and Restatements | Accounting Changes, Reclassifications and Restatements Certain amounts in the 2018 financial statements have been reclassified to conform to the 2019 presentation. These reclassifications do not have a material impact on net income or shareholders’ equity. Accounting Standards Update (“ASU”) 2016-02 “Leases, Topic 842” was adopted January 1, 2019 and comparative periods have not been restated. At the time of adoption, Uwharrie Capital Corp currently had two properties that were considered in-scope for application of ASU 2016-02. The Company has recognized a $2.1 million operating lease right-of-use asset (“ROU”), which is included in premises and equipment on the balance sheet, and a corresponding $2.2 million operating lease liability, recorded in other liabilities on the balance sheet. See Note 9 – Leases for additional information. During the second quarter of 2019, the Company reclassified its reserve for unfunded liabilities (i.e. lines of credit that were available, but not yet drawn by the customer) of $86,000 from allowance for loan loss to other liabilities. There was no impact to the income statement for this reclassification. . |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | The following table presents the changes in accumulated other comprehensive income for the three and six months ended June 30, 2019 and 2018: For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (dollars in thousands) Beginning balance $ (960 ) $ (1,956 ) $ (1,694 ) $ (1,107 ) Other comprehensive income (loss) before reclassifications, net of $314, ($32), $533 and ($282) tax effect, respectively 1,053 (110 ) 1,787 (959 ) Amounts reclassified from accumulated other comprehensive income — — — — Net current-period other comprehensive income (loss) 1,053 (110 ) 1,787 (959 ) Ending balance $ 93 $ (2,066 ) $ 93 $ (2,066 ) |
Per Share Data (Tables)
Per Share Data (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The computation of basic and diluted earnings per share is summarized below: For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Weighted average number of common shares outstanding 7,095,756 7,249,390 7,110,578 7,251,978 Effect of dilutive stock options — — — — Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share 7,095,756 7,249,390 7,110,578 7,251,978 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments Debt And Equity Securities [Abstract] | |
Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity | Carrying amounts and fair values of securities available for sale and held to maturity are summarized below: June 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,960 $ 48 $ — $ 5,008 U.S. Government agencies 33,244 9 250 33,003 GSE - Mortgage-backed securities and CMO’s 32,112 406 198 32,320 State and political subdivisions 12,281 157 2 12,436 Corporate bonds 5,024 5 55 4,974 Total securities available for sale $ 87,621 $ 625 $ 505 $ 87,741 June 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 723 $ 15 $ — $ 738 State and political subdivisions 6,851 41 1 6,891 Corporate bonds 3,065 10 — 3,075 Total securities held to maturity $ 10,639 $ 66 $ 1 $ 10,704 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,944 $ 11 $ — $ 4,955 U.S. Government agencies 52,935 47 1,066 51,916 GSE - Mortgage-backed securities and CMO’s 17,217 — 515 16,702 State and political subdivisions 13,373 5 423 12,955 Corporate bonds 5,030 6 265 4,771 Total securities available for sale $ 93,499 $ 69 $ 2,269 $ 91,299 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 855 $ — $ 12 $ 843 State and political subdivisions 6,877 6 61 6,822 Corporate bonds 3,105 — 20 3,085 Total securities held to maturity $ 10,837 $ 6 $ 93 $ 10,750 |
Gross Unrealized Losses and Fair Value of Investments | At December 31, 2018, the unrealized losses for less than twelve months on held to maturity securities related to two corporate bonds Less than 12 Months 12 Months or More Total June 30, 2019 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 581 $ 2 $ 27,561 $ 248 $ 28,142 $ 250 GSE-Mortgage-backed securities and CMO’s — — 19,553 198 19,553 198 State and political subdivisions — — 715 2 715 2 Corporate bonds 2,161 50 2,004 5 4,165 55 Total securities available for sale $ 2,742 $ 52 $ 49,833 $ 453 $ 52,575 $ 505 Less than 12 Months 12 Months or More Total June 30, 2019 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment State and political subdivisions $ — $ — $ 1,009 $ 1 $ 1,009 $ 1 Total securities held to maturity $ — $ — $ 1,009 $ 1 $ 1,009 $ 1 Less than 12 Months 12 Months or More Total December 31, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 1,924 $ 29 $ 47,814 $ 1,037 $ 49,738 $ 1,066 GSE-Mortgage-backed securities and CMO’s 526 6 15,602 509 16,128 515 State and political subdivisions — — 11,109 423 11,109 423 Corporate bonds 1,989 224 1,971 41 3,960 265 Total securities available for sale $ 4,439 $ 259 $ 76,496 $ 2,010 $ 80,935 $ 2,269 Less than 12 Months 12 Months or More Total December 31, 2018 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment U.S. Government agencies $ — $ — $ 843 $ 12 $ 843 $ 12 State and political subdivisions 755 6 5,157 55 5,912 61 Corporate bonds 3,085 20 — — 3,085 20 Total securities held to maturity $ 3,840 $ 26 $ 6,000 $ 67 $ 9,840 $ 93 |
Amortized Cost and Fair Value of Available for Sale Securities Portfolio | The aggregate amortized cost and fair value of the available for sale securities portfolio at June 30, 2019 by remaining contractual maturity are as follows: June 30, 2019 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U.S. Treasury Due after one but within five years 4,960 5,008 2.66 % 4,960 5,008 2.66 % U.S. Government agencies Due within twelve months 5,436 5,428 1.38 % Due after one but within five years 18,945 18,851 1.55 % Due after five but within ten years 6,827 6,694 1.94 % Due after ten years 2,036 2,030 1.28 % 33,244 33,003 1.59 % Mortgage-backed securities Due after one but within five years 7,413 7,380 2.02 % Due after five but within ten years 17,469 17,812 2.59 % Due after ten years 7,230 7,128 2.14 % 32,112 32,320 2.36 % State and political subdivisions Due after one but within five years 1,337 1,336 3.64 % Due after five but within ten years 1,413 1,422 2.73 % Due after ten years 9,531 9,678 3.10 % 12,281 12,436 3.12 % Corporate bonds Due after one but within five years 5,024 4,974 2.94 % 5,024 4,974 2.94 % Total securities available for sale Due within twelve months 5,436 5,428 1.38 % Due after one but within five years 37,679 37,549 2.05 % Due after five but within ten years 25,709 25,928 2.43 % Due after ten years 18,797 18,836 2.53 % $ 87,621 $ 87,741 2.22 % |
Amortized Cost and Fair Value of Held to Maturity Securities Portfolio | June 30, 2019 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Held to maturity U. S. Government agencies Due after one but within five years $ 723 $ 738 2.57 % 723 738 2.57 % State and political subdivisions Due after one but within five years 5,527 5,551 2.21 % Due after five but within ten years 1,324 1,340 2.42 % 6,851 6,891 2.25 % Corporate Bonds Due within twelve months 1,523 1,526 2.73 % Due after one but within five years 1,542 1,549 2.79 % 3,065 3,075 2.76 % Total securities held for maturity Due within twelve months 1,523 1,526 2.73 % Due after one but within five years 7,792 7,838 2.36 % Due after five but within ten years 1,324 1,340 2.42 % $ 10,639 $ 10,704 2.42 % |
Loans Held for Investment (Tabl
Loans Held for Investment (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Composition of Net Loans Held for Investment by Class | The composition of net loans held for investment by class as of June 30, 2019 and December 31, 2018 are as follows: June 30, 2019 December 31, 2018 (dollars in thousands) Commercial Commercial $ 61,452 $ 57,176 Real estate - commercial 143,720 130,634 Other real estate construction loans 21,384 31,141 Noncommercial Real estate 1-4 family construction 6,906 7,805 Real estate - residential 75,553 76,564 Home equity 51,094 52,541 Consumer loans 12,706 12,159 Other loans 2,012 2,110 374,827 370,130 Less: Allowance for loan losses (2,179 ) (2,374 ) Deferred loan (fees) costs, net (261 ) (160 ) Loans held for investment, net $ 372,387 $ 367,596 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Changes in Allowance for Loss Losses | The following table shows the change in the allowance for loss losses by loan segment for the three and six months ended June 30, 2019 and 2018, respectively: Commercial Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning of period $ 1,281 $ 1,461 $ 1,334 $ 1,401 Provision for (recovery of) loan losses (350 ) 21 (414 ) 66 Charge-offs — (31 ) (5 ) (31 ) Recoveries 341 9 357 24 Net (charge-offs) / Recoveries 341 (22 ) 352 (7 ) Reclassification of reserve for off balance sheet commitments (32 ) — (32 ) — Balance at end of period $ 1,240 $ 1,460 $ 1,240 $ 1,460 Non-Commercial Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning of period $ 952 $ 1,086 $ 1,040 $ 1,057 Provision for (recovery of) loan losses 35 17 (14 ) 50 Charge-offs (12 ) (40 ) (65 ) (57 ) Recoveries 18 60 32 73 Net (charge-offs) / Recoveries 6 20 (33 ) 16 Reclassification of reserve for off balance sheet commitments (54 ) — (54 ) — Balance at end of period $ 939 $ 1,123 $ 939 $ 1,123 Total Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning of period $ 2,233 $ 2,547 $ 2,374 $ 2,458 Provision for (recovery of) loan losses (315 ) 38 (428 ) 116 Charge-offs (12 ) (71 ) (70 ) (88 ) Recoveries 359 69 389 97 Net (charge-offs) / Recoveries 347 (2 ) 319 9 Reclassification of reserve for off balance sheet commitments (86 ) — (86 ) — Balance at end of period $ 2,179 $ 2,583 $ 2,179 $ 2,583 |
Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment | The following table shows period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at June 30, 2019 and December 31, 2018: June 30, 2019 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 29 $ 1,774 $ 1,211 $ 224,782 $ 1,240 $ 226,556 Non-Commercial 126 3,218 813 144,792 939 148,010 Total $ 155 $ 4,992 $ 2,024 $ 369,574 $ 2,179 $ 374,566 December 31, 2018 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 42 $ 1,359 $ 1,292 $ 217,592 $ 1,334 $ 218,951 Non-Commercial 112 3,119 928 147,900 1,040 151,019 Total $ 154 $ 4,478 $ 2,220 $ 365,492 $ 2,374 $ 369,970 |
Past Due Information of Loan Portfolio by Class | Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following table summarizes the past due information of the loan portfolio by class: June 30, 2019 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ 46 $ — $ 46 $ 61,406 $ 61,452 $ — Real estate - commercial — 173 173 143,547 143,720 — Other real estate construction — — — 21,384 21,384 — Real estate 1-4 family construction — — — 6,906 6,906 — Real estate - residential 767 760 1,527 73,765 75,292 — Home equity 211 168 379 50,715 51,094 — Consumer loans 32 — 32 12,674 12,706 — Other loans — — — 2,012 2,012 — Total $ 1,056 $ 1,101 $ 2,157 $ 372,409 $ 374,566 $ — December 31, 2018 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ 54 $ — $ 54 $ 57,122 $ 57,176 $ — Real estate - commercial — 273 $ 273 130,361 130,634 — Other real estate construction — 47 $ 47 31,094 31,141 — Real estate 1-4 family construction — — — 7,805 7,805 — Real estate - residential 890 606 1,496 74,908 76,404 — Home equity 100 118 218 52,323 52,541 — Consumer loan 86 — 86 12,073 12,159 — Other loans — — — 2,110 2,110 — Total $ 1,130 $ 1,044 $ 2,174 $ 367,796 $ 369,970 $ — |
Composition of Nonaccrual Loans by Class | The composition of nonaccrual loans by class as of June 30, 2019 and December 31, 2018 is as follows: June 30, 2019 December 31, 2018 (dollars in thousands) Commercial $ — $ — Real estate - commercial 173 273 Other real estate construction — 47 Real estate 1 – 4 family construction — — Real estate – residential 760 606 Home equity 168 118 Consumer loans — — Other loans — — $ 1,101 $ 1,044 |
Summary of Risk Grades of Portfolio by Class | The tables below summarize risk grades of the loan portfolio by class at June 30, 2019 and December 31, 2018: June 30, 2019 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 59,495 $ 1,950 $ 7 $ — $ 61,452 Real estate - commercial 137,847 4,426 1,447 — 143,720 Other real estate construction 19,205 1,866 313 — 21,384 Real estate 1 - 4 family construction 6,906 — — — 6,906 Real estate - residential 69,949 4,315 1,028 — 75,292 Home equity 49,986 940 168 — 51,094 Consumer loans 12,615 85 6 — 12,706 Other loans 2,012 — — — 2,012 Total $ 358,015 $ 13,582 $ 2,969 $ — $ 374,566 December 31, 2018 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 55,883 $ 1,284 $ 9 $ — $ 57,176 Real estate - commercial 127,592 1,518 1,524 — 130,634 Other real estate construction 28,711 2,070 360 — 31,141 Real estate 1 - 4 family construction 7,805 — — — 7,805 Real estate - residential 69,900 5,470 1,034 — 76,404 Home equity 52,028 395 118 — 52,541 Consumer loans 12,085 73 1 — 12,159 Other loans 2,110 — — — 2,110 Total $ 356,114 $ 10,810 $ 3,046 $ — $ 369,970 |
Summary of Performing and Nonperforming Loans by Class | The following tables show the breakdown between performing and nonperforming loans by class at June 30, 2019 and December 31, 2018: June 30, 2019 Performing Non- Performing Total (dollars in thousands) Commercial $ 61,452 $ — $ 61,452 Real estate - commercial 143,547 173 143,720 Other real estate construction 21,384 — 21,384 Real estate 1 – 4 family construction 6,906 — 6,906 Real estate – residential 74,532 760 75,292 Home equity 50,926 168 51,094 Consumer loans 12,706 — 12,706 Other loans 2,012 — 2,012 Total $ 373,465 $ 1,101 $ 374,566 December 31, 2018 Performing Non- Performing Total (dollars in thousands) Commercial $ 57,176 $ — $ 57,176 Real estate - commercial 130,361 273 130,634 Other real estate construction 31,094 47 31,141 Real estate 1 – 4 family construction 7,805 — 7,805 Real estate – residential 75,798 606 76,404 Home equity 52,423 118 52,541 Consumer loans 12,159 — 12,159 Other loans 2,110 — 2,110 Total $ 368,926 $ 1,044 $ 369,970 |
Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class | The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at June 30, 2019 and December 31, 2018. June 30, 2019 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 5 $ — $ 5 $ — Real estate - commercial 1,724 536 1,188 26 Other real estate construction 45 — 45 3 Real estate 1 - 4 family construction — — — — Real estate - residential 3,023 1,023 2,000 97 Home equity 168 50 118 29 Consumer loans 27 — 27 — Other loans — — — — Total $ 4,992 $ 1,609 $ 3,383 $ 155 December 31, 2018 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 7 $ — $ 7 $ — Real estate - commercial 1,258 93 1,165 38 Other real estate construction 632 47 47 4 Real estate 1 - 4 family construction — — — — Real estate - residential 3,005 901 2,104 110 Home equity 83 51 32 1 Consumer loans 31 — 31 1 Other loans — — — — Total $ 5,016 $ 1,092 $ 3,386 $ 154 Three Months ended June 30, 2019 Three Months ended June 30, 2018 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 6 $ — $ 25 $ — Real estate - commercial 1,434 15 1,541 15 Other real estate construction 69 — 123 — Real estate 1- 4 family construction — — — — Real estate - residential 2,975 33 3,540 41 Home equity 124 3 66 2 Consumer loans 28 — 38 — Other loans — — — — Total $ 4,636 $ 51 $ 5,333 $ 58 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 6 $ — $ 32 $ — Real estate - commercial 1,375 35 1,566 30 Other real estate construction 77 1 132 2 Real estate 1- 4 family construction — — — — Real estate - residential 2,985 72 3,598 82 Home equity 110 4 55 2 Consumer loans 29 1 41 1 Other loans — — — — Total $ 4,582 $ 113 $ 5,424 $ 117 |
Troubled Debt Restructures (Tab
Troubled Debt Restructures (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Breakdown of Types of Concessions Made by Loan Class | For the three and six months ended June 30, 2019 and 2018, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended June 30, 2019 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial 1 1,629 857 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential — — — Home equity — — — Consumer loans — — — Other loans — — — Total 1 $ 1,629 $ 857 For the three months ended June 30, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 387 387 Home equity — — — Consumer loans — — — Other loans — — — Total 3 $ 387 $ 387 For the six months ended June 30, 2019 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial 1 1,629 857 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 217 198 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 1,846 $ 1,055 For the six months ended June 30, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 4 445 444 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 445 $ 444 |
Schedule of Status of Types of Debt Restructuring | The following table presents the status of the types of loan modifications within the previous twelve months as of June 30, 2019 and 2018: Paid In Full Paying as restructured Converted to nonaccrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) June 30, 2019 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 5 895 4 1,847 — — 2 282 Total 5 $ 895 4 $ 1,847 — $ — 2 $ 282 June 30, 2018 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 5 109 8 687 — — 1 17 Total 5 $ 109 8 $ 687 — $ — 1 $ 17 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Lessee Disclosure [Abstract] | |
Summary of Other Information Related to Operating Leases | The table below summarizes other information related to our operating leases: Six Months Ended June 30, 2019 (in thousands except percent and period data) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 169 Right-of-use assets obtained in exchange for new operating lease liabilities 2,107 Weighted-average remaining lease term - operating leases, in years 7.9 Weighted-average discount rate - operating leases 2.8 % |
Summary of the Maturity of Remaining Lease Liabilities | The table below summarizes the maturity of remaining lease liabilities: June 30, 2019 (in thousands) 2019 $ 188 2020 381 2021 347 2022 225 2023 229 2024 and thereafter 1,079 Total lease payments 2,449 Less: Interest (280 ) Present value of lease liabilities 2,169 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk | At June 30, 2019, outstanding financial instruments whose contract amounts represent credit risk were approximately: (dollars in thousands) Commitments to extend credit $ 118,650 Credit card commitments 11,278 Standby letters of credit 1,044 Total commitments $ 130,972 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Information for Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table provides fair value information for assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018: June 30, 2019 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Treasury $ 5,008 $ 5,008 $ — $ — U.S. Government agencies 33,003 — 33,003 $ — GSE - Mortgage-backed securities and CMO’s 32,320 — 32,320 — State and political subdivisions 12,436 — 12,436 — Corporate bonds 4,974 — 4,974 — Total assets at fair value $ 87,741 $ 5,008 $ 82,733 $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2018 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Treasury $ 4,955 $ 4,955 $ — $ — U.S. Government agencies 51,916 — 51,916 — GSE - Mortgage-backed securities and CMO’s 16,702 — 16,702 — State and political subdivisions 12,955 — 12,955 — Corporate bonds 4,771 — 4,771 — Total assets at fair value $ 91,299 $ 4,955 $ 86,344 $ — Total liabilities at fair value $ — $ — $ — $ — |
Assets Measured at Fair Value on Nonrecurring Basis | Assets measured at fair value on a nonrecurring basis are included in the table below as of June 30, 2019 and December 31, 2018: June 30, 2019 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,228 $ — $ — $ 3,228 Other real estate owned 686 — — 686 Total assets at fair value $ 3,914 $ — $ — $ 3,914 Total liabilities at fair value $ — $ — $ — $ — December 31, 2018 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,279 $ — $ — $ 3,279 Other real estate owned 951 — — 951 Total assets at fair value $ 4,230 $ — $ — $ 4,230 Total liabilities at fair value $ — $ — $ — $ — |
Quantitative Information about Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements June 30, 2019 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount Rate 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% December 31, 2018 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% |
Fair Values of Financial Inst_2
Fair Values of Financial Instruments and Interest Rate Risk (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments All Other Investments [Abstract] | |
Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments | The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of June 30, 2019 and December 31, 2018: June 30, 2019 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 112,858 $ 112,853 $ 110,617 $ 2,236 $ — Securities available for sale 87,741 87,741 5,008 82,733 — Securities held to maturity 10,639 10,704 — 10,704 — Loans held for investment, net 374,566 373,442 — — 373,442 Loans held for sale 2,517 2,517 — 2,517 — Restricted stock 1,144 1,144 1,144 — — Loan servicing rights 1,657 3,338 — 3,338 — Accrued interest receivable 1,733 1,733 — — 1,733 FINANCIAL LIABILITIES Deposits $ 556,916 $ 530,741 $ — $ 530,741 $ — Short-term borrowings 839 839 — 839 — Long-term borrowings 9,974 9,984 — — 9,984 Accrued interest payable 47 47 — — 47 December 31, 2018 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 117,934 $ 117,901 $ 115,693 $ 2,208 $ — Securities available for sale 91,299 91,299 4,955 86,344 — Securities held to maturity 10,837 10,750 — 10,750 — Loans held for investment, net 367,596 364,636 — — 364,636 Loans held for sale 4,800 4,800 — 4,800 — Restricted stock 1,094 1,094 1,094 — — Mortgage servicing rights 1,850 3,455 — 3,455 Accrued interest receivable 1,763 1,763 — — 1,763 FINANCIAL LIABILITIES Deposits 566,901 521,508 — 521,508 — Short-term borrowings 1,190 1,190 — 1,190 — Long-term debt 9,974 10,086 — — 10,086 Accrued interest payable 16 16 — — 16 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Details) - USD ($) | Jun. 30, 2019 | Jan. 01, 2019 |
Disaggregation Of Revenue [Line Items] | ||
Operating Lease, Liability | $ 2,169,000 | |
Result of reclassification of allowance for loan loss to other liabilities | 86,000 | |
ASU 2016-02 [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Operating Lease, Right-of-Use Asset | 2,100,000 | $ 2,100,000 |
Operating Lease, Liability | $ 2,200,000 | $ 2,200,000 |
Comprehensive Income - Accumula
Comprehensive Income - Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning balance | $ 46,313 | $ 43,747 | $ 45,175 | $ 44,540 |
Total other comprehensive income (loss) | 1,053 | (110) | 1,787 | (959) |
Ending balance | 48,053 | 43,925 | 48,053 | 43,925 |
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning balance | (960) | (1,956) | (1,694) | (1,107) |
Other comprehensive income (loss) before reclassifications, net of $314, ($32), $533 and ($282) tax effect, respectively | 1,053 | (110) | 1,787 | (959) |
Total other comprehensive income (loss) | 1,053 | (110) | 1,787 | (959) |
Ending balance | $ 93 | $ (2,066) | $ 93 | $ (2,066) |
Comprehensive Income - Accumu_2
Comprehensive Income - Accumulated Other Comprehensive Income (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Tax effect on Other Comprehensive income (loss) before reclassifications | $ 314 | $ (32) | $ 533 | $ (282) |
Noncontrolling Interest - Addit
Noncontrolling Interest - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | 6 Months Ended | 12 Months Ended |
Jan. 31, 2013 | Jun. 30, 2019 | Dec. 31, 2013 | |
Preferred Stock Series B [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Preferred stock issued | $ 7.9 | ||
Dividends rate | 5.30% | ||
Voting rights | The preferred stock has no voting rights | ||
Preferred Stock Series C [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Preferred stock issued | $ 2.8 | ||
Dividends rate | 5.30% | ||
Voting rights | The preferred stock has no voting rights |
Per Share Data - Additional Inf
Per Share Data - Additional Information (Detail) - shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Earnings Per Share [Abstract] | ||
Stock options outstanding | 0 | 0 |
Per Share Data - Computation of
Per Share Data - Computation of Basic and Diluted Earnings Per Share (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share [Abstract] | ||||
Weighted average number of common shares outstanding | 7,095,756 | 7,249,390 | 7,110,578 | 7,251,978 |
Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share | 7,095,756 | 7,249,390 | 7,110,578 | 7,251,978 |
Investment Securities - Carryin
Investment Securities - Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 87,621 | $ 93,499 |
Available-for-sale Securities, Gross Unrealized Gains | 625 | 69 |
Available-for-sale Securities, Gross Unrealized Losses | 505 | 2,269 |
Available-for-sale Securities, Fair Value | 87,741 | 91,299 |
Held-to-maturity Securities, Amortized Cost | 10,639 | 10,837 |
Held-to-maturity Securities, Gross Unrealized Gains | 66 | 6 |
Held-to-maturity Securities, Gross Unrealized Losses | 1 | 93 |
Held-to-maturity Securities, Fair Value | 10,704 | 10,750 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 4,960 | 4,944 |
Available-for-sale Securities, Gross Unrealized Gains | 48 | 11 |
Available-for-sale Securities, Fair Value | 5,008 | 4,955 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 33,244 | 52,935 |
Available-for-sale Securities, Gross Unrealized Gains | 9 | 47 |
Available-for-sale Securities, Gross Unrealized Losses | 250 | 1,066 |
Available-for-sale Securities, Fair Value | 33,003 | 51,916 |
Held-to-maturity Securities, Amortized Cost | 723 | 855 |
Held-to-maturity Securities, Gross Unrealized Gains | 15 | |
Held-to-maturity Securities, Gross Unrealized Losses | 12 | |
Held-to-maturity Securities, Fair Value | 738 | 843 |
GSE - Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 32,112 | 17,217 |
Available-for-sale Securities, Gross Unrealized Gains | 406 | |
Available-for-sale Securities, Gross Unrealized Losses | 198 | 515 |
Available-for-sale Securities, Fair Value | 32,320 | 16,702 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 12,281 | 13,373 |
Available-for-sale Securities, Gross Unrealized Gains | 157 | 5 |
Available-for-sale Securities, Gross Unrealized Losses | 2 | 423 |
Available-for-sale Securities, Fair Value | 12,436 | 12,955 |
Held-to-maturity Securities, Amortized Cost | 6,851 | 6,877 |
Held-to-maturity Securities, Gross Unrealized Gains | 41 | 6 |
Held-to-maturity Securities, Gross Unrealized Losses | 1 | 61 |
Held-to-maturity Securities, Fair Value | 6,891 | 6,822 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 5,024 | 5,030 |
Available-for-sale Securities, Gross Unrealized Gains | 5 | 6 |
Available-for-sale Securities, Gross Unrealized Losses | 55 | 265 |
Available-for-sale Securities, Fair Value | 4,974 | 4,771 |
Held-to-maturity Securities, Amortized Cost | 3,065 | 3,105 |
Held-to-maturity Securities, Gross Unrealized Gains | 10 | |
Held-to-maturity Securities, Gross Unrealized Losses | 20 | |
Held-to-maturity Securities, Fair Value | $ 3,075 | $ 3,085 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019USD ($)Security | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)Security | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($)Security | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Federal Reserve stock owned by Company | $ | $ 509,000 | $ 509,000 | $ 509,000 | ||
Federal Home Loan Bank (FHLB) stock | $ | 635,000 | 635,000 | 585,000 | ||
Sales of securities available for sale | $ | 0 | $ 0 | 0 | $ 0 | |
Securities available for sale pledged as collateral on public deposits | $ | $ 68,900,000 | $ 68,900,000 | $ 71,500,000 | ||
U.S. Government Agencies [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of available for sale securities related to unrealized losses less than twelve months | 2 | 2 | 4 | ||
Number of available for sale securities related to unrealized losses more than twelve months | 14 | 14 | 16 | ||
Number of securities related to unrealized losses | 1 | ||||
GSE - Mortgage-backed Securities and CMO's [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of available for sale securities related to unrealized losses less than twelve months | 1 | ||||
Number of available for sale securities related to unrealized losses more than twelve months | 16 | 16 | 16 | ||
Available for sale securities | $ | $ 0 | ||||
U S States And Political | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of available for sale securities related to unrealized losses more than twelve months | 1 | 1 | 8 | ||
Number of securities related to unrealized losses | 1 | 1 | 2 | ||
Number of securities related to unrealized losses | 6 | ||||
Corporate Bonds [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of available for sale securities related to unrealized losses less than twelve months | 1 | 1 | 1 | ||
Number of available for sale securities related to unrealized losses more than twelve months | 1 | 1 | 1 | ||
Number of securities related to unrealized losses | 2 |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | $ 2,742 | $ 4,439 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 52 | 259 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 49,833 | 76,496 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 453 | 2,010 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 52,575 | 80,935 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 505 | 2,269 |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,840 | |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 26 | |
Securities held to maturity, Gross unrealized losses, Twelve Months or More, Fair Value | 1,009 | 6,000 |
Securities held to maturity, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 1 | 67 |
Securities held to maturity, Gross unrealized losses, Fair Value | 1,009 | 9,840 |
Securities held to maturity, Gross unrealized losses, Unrealized Losses | 1 | 93 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 581 | 1,924 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 2 | 29 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 27,561 | 47,814 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 248 | 1,037 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 28,142 | 49,738 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 250 | 1,066 |
Securities held to maturity, Gross unrealized losses, Twelve Months or More, Fair Value | 843 | |
Securities held to maturity, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 12 | |
Securities held to maturity, Gross unrealized losses, Fair Value | 843 | |
Securities held to maturity, Gross unrealized losses, Unrealized Losses | 12 | |
GSE - Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 526 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 6 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 19,553 | 15,602 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 198 | 509 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 19,553 | 16,128 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 198 | 515 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 715 | 11,109 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 2 | 423 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 715 | 11,109 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 2 | 423 |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Fair Value | 755 | |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 6 | |
Securities held to maturity, Gross unrealized losses, Twelve Months or More, Fair Value | 1,009 | 5,157 |
Securities held to maturity, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 1 | 55 |
Securities held to maturity, Gross unrealized losses, Fair Value | 1,009 | 5,912 |
Securities held to maturity, Gross unrealized losses, Unrealized Losses | 1 | 61 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 2,161 | 1,989 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 50 | 224 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 2,004 | 1,971 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 5 | 41 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 4,165 | 3,960 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | $ 55 | 265 |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,085 | |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 20 | |
Securities held to maturity, Gross unrealized losses, Twelve Months or More, Fair Value | 0 | |
Securities held to maturity, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 0 | |
Securities held to maturity, Gross unrealized losses, Fair Value | 3,085 | |
Securities held to maturity, Gross unrealized losses, Unrealized Losses | $ 20 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Fair Value of Available for Sale Securities Portfolio (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 37,679 | |
Available-for-sale Securities, Amortized Cost | 87,621 | $ 93,499 |
Due within twelve months, Amortized cost | 5,436 | |
Due after five but within ten years, Amortized Cost | 25,709 | |
Due after ten years, Amortized Cost | 18,797 | |
Due after one but within five years, Estimated Fair Value | 25,928 | |
Available-for-sale Securities, Estimated Fair Value | 87,741 | 91,299 |
Due within twelve months, Estimated Fair Value | 5,428 | |
Due after one but within five years, Estimated Fair Value | 37,549 | |
Due after ten years, Estimated Fair Value | $ 18,836 | |
Due after one but within five years, Book Yield | 2.05% | |
Total securities available for sale, Book Yield | 2.22% | |
Due within twelve months, Book Yield | 1.38% | |
Due after five but within ten years, Book Yield | 2.43% | |
Due after ten years, Book Yield | 2.53% | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 4,960 | |
Available-for-sale Securities, Amortized Cost | 4,960 | 4,944 |
Due after one but within five years, Estimated Fair Value | 5,008 | |
Available-for-sale Securities, Estimated Fair Value | $ 5,008 | 4,955 |
Due after one but within five years, Book Yield | 2.66% | |
Total securities available for sale, Book Yield | 2.66% | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 18,945 | |
Available-for-sale Securities, Amortized Cost | 33,244 | 52,935 |
Due within twelve months, Amortized cost | 5,436 | |
Due after five but within ten years, Amortized Cost | 6,827 | |
Due after ten years, Amortized Cost | 2,036 | |
Due after one but within five years, Estimated Fair Value | 6,694 | |
Available-for-sale Securities, Estimated Fair Value | 33,003 | 51,916 |
Due within twelve months, Estimated Fair Value | 5,428 | |
Due after one but within five years, Estimated Fair Value | 18,851 | |
Due after ten years, Estimated Fair Value | $ 2,030 | |
Due after one but within five years, Book Yield | 1.55% | |
Total securities available for sale, Book Yield | 1.59% | |
Due within twelve months, Book Yield | 1.38% | |
Due after five but within ten years, Book Yield | 1.94% | |
Due after ten years, Book Yield | 1.28% | |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 7,413 | |
Available-for-sale Securities, Amortized Cost | 32,112 | 17,217 |
Due after five but within ten years, Amortized Cost | 17,469 | |
Due after ten years, Amortized Cost | 7,230 | |
Due after one but within five years, Estimated Fair Value | 17,812 | |
Available-for-sale Securities, Estimated Fair Value | 32,320 | 16,702 |
Due after one but within five years, Estimated Fair Value | 7,380 | |
Due after ten years, Estimated Fair Value | $ 7,128 | |
Due after one but within five years, Book Yield | 2.02% | |
Total securities available for sale, Book Yield | 2.36% | |
Due after five but within ten years, Book Yield | 2.59% | |
Due after ten years, Book Yield | 2.14% | |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 1,337 | |
Available-for-sale Securities, Amortized Cost | 12,281 | 13,373 |
Due after five but within ten years, Amortized Cost | 1,413 | |
Due after ten years, Amortized Cost | 9,531 | |
Due after one but within five years, Estimated Fair Value | 1,422 | |
Available-for-sale Securities, Estimated Fair Value | 12,436 | 12,955 |
Due after one but within five years, Estimated Fair Value | 1,336 | |
Due after ten years, Estimated Fair Value | $ 9,678 | |
Due after one but within five years, Book Yield | 3.64% | |
Total securities available for sale, Book Yield | 3.12% | |
Due after five but within ten years, Book Yield | 2.73% | |
Due after ten years, Book Yield | 3.10% | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 5,024 | |
Available-for-sale Securities, Amortized Cost | 5,024 | 5,030 |
Available-for-sale Securities, Estimated Fair Value | 4,974 | $ 4,771 |
Due after one but within five years, Estimated Fair Value | $ 4,974 | |
Due after one but within five years, Book Yield | 2.94% | |
Total securities available for sale, Book Yield | 2.94% |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 7,792 | |
Total Securities held for maturity, Amortized Cost | 10,639 | |
Due after five but within ten years, Amortized Cost | 1,324 | |
Due within twelve months, Amortized Cost | 1,523 | |
Due after one but within five years, Estimated Fair Value | 7,838 | |
Total Securities held for maturity, Estimated Fair Value | 10,704 | $ 10,750 |
Due after five but within ten years, Estimated Fair Value | 1,340 | |
Due after one but within five years, Estimated Fair Value | $ 1,526 | |
Due after one but within five years, Book Yield | 2.36% | |
Total Securities held for maturity, Book Yield | 2.42% | |
Due within twelve months, Book Yield | 2.73% | |
Due after five but within ten years, Book Yield | 2.42% | |
U.S. Government Agencies [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 723 | |
Total Securities held for maturity, Amortized Cost | 723 | |
Due after one but within five years, Estimated Fair Value | 738 | |
Total Securities held for maturity, Estimated Fair Value | $ 738 | 843 |
Due after one but within five years, Book Yield | 2.57% | |
Total Securities held for maturity, Book Yield | 2.57% | |
State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 5,527 | |
Total Securities held for maturity, Amortized Cost | 6,851 | |
Due after five but within ten years, Amortized Cost | 1,324 | |
Due after one but within five years, Estimated Fair Value | 5,551 | |
Total Securities held for maturity, Estimated Fair Value | 6,891 | 6,822 |
Due after five but within ten years, Estimated Fair Value | $ 1,340 | |
Due after one but within five years, Book Yield | 2.21% | |
Due after ten years, Book Yield | 2.42% | |
Total Securities held for maturity, Book Yield | 2.25% | |
Corporate Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 1,542 | |
Total Securities held for maturity, Amortized Cost | 3,065 | |
Due within twelve months, Amortized Cost | 1,523 | |
Due after one but within five years, Estimated Fair Value | 1,549 | |
Total Securities held for maturity, Estimated Fair Value | 3,075 | $ 3,085 |
Due after one but within five years, Estimated Fair Value | $ 1,526 | |
Due after one but within five years, Book Yield | 2.79% | |
Total Securities held for maturity, Book Yield | 2.76% | |
Due within twelve months, Book Yield | 2.73% |
Loans Held for Investment - Com
Loans Held for Investment - Composition of Net Loans Held for Investment by Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 374,827 | $ 370,130 | ||||
Less: | ||||||
Allowance for loan losses | (2,179) | $ (2,233) | (2,374) | $ (2,583) | $ (2,547) | $ (2,458) |
Deferred loan (fees) costs, net | (261) | (160) | ||||
Net loans held for investment | 372,387 | 367,596 | ||||
Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (1,240) | (1,281) | (1,334) | (1,460) | (1,461) | (1,401) |
Commercial [Member] | Commercial Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 61,452 | 57,176 | ||||
Commercial [Member] | Real Estate - Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 143,720 | 130,634 | ||||
Commercial [Member] | Other Real Estate Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 21,384 | 31,141 | ||||
Non-Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (939) | $ (952) | (1,040) | $ (1,123) | $ (1,086) | $ (1,057) |
Non-Commercial [Member] | Consumer Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 12,706 | 12,159 | ||||
Non-Commercial [Member] | Real Estate 1 - 4 Family Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 6,906 | 7,805 | ||||
Non-Commercial [Member] | Real Estate - Residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 75,553 | 76,564 | ||||
Non-Commercial [Member] | Home Equity [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 51,094 | 52,541 | ||||
Non-Commercial [Member] | Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 2,012 | $ 2,110 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in Allowance for Loss Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | $ 2,233 | $ 2,547 | $ 2,374 | $ 2,458 |
Provision for (recovery of) loan losses | (315) | 38 | (428) | 116 |
Charge-offs | (12) | (71) | (70) | (88) |
Recoveries | 359 | 69 | 389 | 97 |
Net (charge-offs) / Recoveries | 347 | (2) | 319 | 9 |
Reclassification of reserve for off balance sheet commitments | (86) | (86) | ||
Balance at end of period | 2,179 | 2,583 | 2,179 | 2,583 |
Commercial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,281 | 1,461 | 1,334 | 1,401 |
Provision for (recovery of) loan losses | (350) | 21 | (414) | 66 |
Charge-offs | (31) | (5) | (31) | |
Recoveries | 341 | 9 | 357 | 24 |
Net (charge-offs) / Recoveries | 341 | (22) | 352 | (7) |
Reclassification of reserve for off balance sheet commitments | (32) | (32) | ||
Balance at end of period | 1,240 | 1,460 | 1,240 | 1,460 |
Non-Commercial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | 952 | 1,086 | 1,040 | 1,057 |
Provision for (recovery of) loan losses | 35 | 17 | (14) | 50 |
Charge-offs | (12) | (40) | (65) | (57) |
Recoveries | 18 | 60 | 32 | 73 |
Net (charge-offs) / Recoveries | 6 | 20 | (33) | 16 |
Reclassification of reserve for off balance sheet commitments | (54) | (54) | ||
Balance at end of period | $ 939 | $ 1,123 | $ 939 | $ 1,123 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | $ 155 | $ 154 | ||||
Individually Evaluated, Loans | 4,992 | 4,478 | ||||
Collectively Evaluated, Reserve | 2,024 | 2,220 | ||||
Collectively Evaluated, Loans | 369,574 | 365,492 | ||||
Total Reserve | 2,179 | $ 2,233 | 2,374 | $ 2,583 | $ 2,547 | $ 2,458 |
Total Loans | 374,566 | 369,970 | ||||
Commercial [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 29 | 42 | ||||
Individually Evaluated, Loans | 1,774 | 1,359 | ||||
Collectively Evaluated, Reserve | 1,211 | 1,292 | ||||
Collectively Evaluated, Loans | 224,782 | 217,592 | ||||
Total Reserve | 1,240 | 1,281 | 1,334 | 1,460 | 1,461 | 1,401 |
Total Loans | 226,556 | 218,951 | ||||
Non-Commercial [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 126 | 112 | ||||
Individually Evaluated, Loans | 3,218 | 3,119 | ||||
Collectively Evaluated, Reserve | 813 | 928 | ||||
Collectively Evaluated, Loans | 144,792 | 147,900 | ||||
Total Reserve | 939 | $ 952 | 1,040 | $ 1,123 | $ 1,086 | $ 1,057 |
Total Loans | $ 148,010 | $ 151,019 |
Allowance for Loan Losses - Pas
Allowance for Loan Losses - Past Due Information of Loan Portfolio by Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | $ 2,157 | $ 2,174 |
Current Loans | 372,409 | 367,796 |
Total Loans | 374,566 | 369,970 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,056 | 1,130 |
Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,101 | 1,044 |
Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 173 | 273 |
Current Loans | 143,547 | 130,361 |
Total Loans | 143,720 | 130,634 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Commercial [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 173 | 273 |
Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 47 | |
Current Loans | 21,384 | 31,094 |
Total Loans | 21,384 | 31,141 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Real Estate Construction [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 47 | |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 6,906 | 7,805 |
Total Loans | 6,906 | 7,805 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,527 | 1,496 |
Current Loans | 73,765 | 74,908 |
Total Loans | 75,292 | 76,404 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Residential [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 767 | 890 |
Real Estate - Residential [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 760 | 606 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 379 | 218 |
Current Loans | 50,715 | 52,323 |
Total Loans | 51,094 | 52,541 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Home Equity [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 211 | 100 |
Home Equity [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 168 | 118 |
Other Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 2,012 | 2,110 |
Total Loans | 2,012 | 2,110 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Commercial Loan [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 46 | 54 |
Current Loans | 61,406 | 57,122 |
Total Loans | 61,452 | 57,176 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Commercial Loan [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 46 | 54 |
Consumer Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 32 | 86 |
Current Loans | 12,674 | 12,073 |
Total Loans | 12,706 | 12,159 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Consumer Loans [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | $ 32 | $ 86 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Allowance For Loan Losses [Line Items] | ||
Accruing Loans 90 or More Days Past Due | $ 0 | $ 0 |
Real Estate - Residential [Member] | ||
Allowance For Loan Losses [Line Items] | ||
Foreclosed residential real estate, loan amount | 115,000 | 371,000 |
Real estate in process of foreclosure, loan amount | 497,000 | 161,000 |
Accruing Loans 90 or More Days Past Due | $ 0 | $ 0 |
Allowance for Loan Losses - Com
Allowance for Loan Losses - Composition of Nonaccrual Loans by Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 2,157 | $ 2,174 |
Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 173 | 273 |
Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 47 | |
Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 1,527 | 1,496 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 379 | 218 |
Commercial Loan [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 46 | 54 |
Consumer Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 32 | 86 |
Loans 90 Days or More Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 1,101 | 1,044 |
Loans 90 Days or More Past Due [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 173 | 273 |
Loans 90 Days or More Past Due [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 47 | |
Loans 90 Days or More Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 760 | 606 |
Loans 90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 168 | $ 118 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Risk Grades of Portfolio by Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 374,566 | $ 369,970 |
Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 143,720 | 130,634 |
Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 21,384 | 31,141 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 6,906 | 7,805 |
Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 75,292 | 76,404 |
Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 51,094 | 52,541 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,012 | 2,110 |
Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 61,452 | 57,176 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 12,706 | 12,159 |
Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 358,015 | 356,114 |
Pass [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 137,847 | 127,592 |
Pass [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 19,205 | 28,711 |
Pass [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 6,906 | 7,805 |
Pass [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 69,949 | 69,900 |
Pass [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 49,986 | 52,028 |
Pass [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,012 | 2,110 |
Pass [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 59,495 | 55,883 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 12,615 | 12,085 |
Watch [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 13,582 | 10,810 |
Watch [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 4,426 | 1,518 |
Watch [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,866 | 2,070 |
Watch [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 4,315 | 5,470 |
Watch [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 940 | 395 |
Watch [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,950 | 1,284 |
Watch [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 85 | 73 |
Sub-standard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,969 | 3,046 |
Sub-standard [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,447 | 1,524 |
Sub-standard [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 313 | 360 |
Sub-standard [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,028 | 1,034 |
Sub-standard [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 168 | 118 |
Sub-standard [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 7 | 9 |
Sub-standard [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 6 | $ 1 |
Allowance for Loan Losses - S_2
Allowance for Loan Losses - Summary of Performing and Nonperforming Loans by Class (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 374,566 | $ 369,970 |
Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 143,720 | 130,634 |
Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 21,384 | 31,141 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 6,906 | 7,805 |
Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 75,292 | 76,404 |
Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 51,094 | 52,541 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,012 | 2,110 |
Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 61,452 | 57,176 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 12,706 | 12,159 |
Performing [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 373,465 | 368,926 |
Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 143,547 | 130,361 |
Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 21,384 | 31,094 |
Performing [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 6,906 | 7,805 |
Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 74,532 | 75,798 |
Performing [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 50,926 | 52,423 |
Performing [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,012 | 2,110 |
Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 61,452 | 57,176 |
Performing [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 12,706 | 12,159 |
Non-Performing [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,101 | 1,044 |
Non-Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 173 | 273 |
Non-Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 47 | |
Non-Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 760 | 606 |
Non-Performing [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 168 | $ 118 |
Allowance for Loan Losses - S_3
Allowance for Loan Losses - Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | $ 4,992 | $ 4,992 | $ 5,016 | ||
Recorded Investment With No Allowance | 1,609 | 1,609 | 1,092 | ||
Recorded Investment With Allowance | 3,383 | 3,383 | 3,386 | ||
Related Allowance | 155 | 155 | 154 | ||
Average Recorded Investment | 4,636 | $ 5,333 | 4,582 | $ 5,424 | |
Interest Income | 51 | 58 | 113 | 117 | |
Real Estate - Commercial [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 1,724 | 1,724 | 1,258 | ||
Recorded Investment With No Allowance | 536 | 536 | 93 | ||
Recorded Investment With Allowance | 1,188 | 1,188 | 1,165 | ||
Related Allowance | 26 | 26 | 38 | ||
Average Recorded Investment | 1,434 | 1,541 | 1,375 | 1,566 | |
Interest Income | 15 | 15 | 35 | 30 | |
Other Real Estate Construction [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 45 | 45 | 632 | ||
Recorded Investment With No Allowance | 47 | ||||
Recorded Investment With Allowance | 45 | 45 | 47 | ||
Related Allowance | 3 | 3 | 4 | ||
Average Recorded Investment | 69 | 123 | 77 | 132 | |
Interest Income | 1 | 2 | |||
Real Estate - Residential [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 3,023 | 3,023 | 3,005 | ||
Recorded Investment With No Allowance | 1,023 | 1,023 | 901 | ||
Recorded Investment With Allowance | 2,000 | 2,000 | 2,104 | ||
Related Allowance | 97 | 97 | 110 | ||
Average Recorded Investment | 2,975 | 3,540 | 2,985 | 3,598 | |
Interest Income | 33 | 41 | 72 | 82 | |
Home Equity [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 168 | 168 | 83 | ||
Recorded Investment With No Allowance | 50 | 50 | 51 | ||
Recorded Investment With Allowance | 118 | 118 | 32 | ||
Related Allowance | 29 | 29 | 1 | ||
Average Recorded Investment | 124 | 66 | 110 | 55 | |
Interest Income | 3 | 2 | 4 | 2 | |
Commercial Loan [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 5 | 5 | 7 | ||
Recorded Investment With Allowance | 5 | 5 | 7 | ||
Average Recorded Investment | 6 | 25 | 6 | 32 | |
Consumer Loans [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 27 | 27 | 31 | ||
Recorded Investment With Allowance | 27 | 27 | 31 | ||
Related Allowance | $ 1 | ||||
Average Recorded Investment | $ 28 | $ 38 | 29 | 41 | |
Interest Income | $ 1 | $ 1 |
Troubled Debt Restructures - Ad
Troubled Debt Restructures - Additional Information (Detail) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019USD ($)Contract | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)Contract | Jun. 30, 2018Contract | |
Receivables [Abstract] | ||||
Outstanding balance of TDRs | $ 3,900,000 | $ 3,900,000 | ||
Number of contracts on non-accruing basis | Contract | 1 | |||
Outstanding balance of TDRs non accruing | $ 28,000 | $ 28,000 | ||
Number of TDR's payment default | Contract | 2 | 1 | ||
TDR is defined as being past due | 90 days | |||
Allowance for loan loss on TDR | $ 117,000 | $ 156,000 |
Troubled Debt Restructures - Br
Troubled Debt Restructures - Breakdown of Types of Concessions Made by Loan Class (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($)Contract | Jun. 30, 2018USD ($)Contract | Jun. 30, 2019USD ($)Contract | Jun. 30, 2018USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 3 | 4 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 1,629 | $ 387 | $ 1,846 | $ 445 |
Post-Modification Outstanding Recorded Investment | $ 857 | $ 387 | $ 1,055 | $ 444 |
Other Payment Terms [Member] | Real Estate - Commercial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 1,629 | $ 1,629 | ||
Post-Modification Outstanding Recorded Investment | $ 857 | $ 857 | ||
Other Payment Terms [Member] | Real Estate - Residential [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 3 | 4 | |
Pre-Modification Outstanding Recorded Investment | $ 387 | $ 217 | $ 445 | |
Post-Modification Outstanding Recorded Investment | $ 387 | $ 198 | $ 444 |
Troubled Debt Restructures - Sc
Troubled Debt Restructures - Schedule of Status of Types of Debt Restructuring (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($)Contract | Jun. 30, 2018USD ($)Contract | Jun. 30, 2019USD ($)ContractLoan | Jun. 30, 2018USD ($)ContractLoan | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Contract | 1 | 3 | 4 | 4 |
Recorded Investments | $ 3,900 | $ 3,900 | ||
Paid In Full [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 5 | 5 | ||
Recorded Investments | 895 | $ 109 | $ 895 | $ 109 |
Paying as Restructured [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 4 | 8 | ||
Recorded Investments | 1,847 | 687 | $ 1,847 | $ 687 |
Foreclosure/ Default [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | 1 | ||
Recorded Investments | 282 | 17 | $ 282 | $ 17 |
Forgiveness of Principal Other [Member] | Paid In Full [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 5 | 5 | ||
Recorded Investments | 895 | 109 | $ 895 | $ 109 |
Forgiveness of Principal Other [Member] | Paying as Restructured [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 4 | 8 | ||
Recorded Investments | 1,847 | 687 | $ 1,847 | $ 687 |
Forgiveness of Principal Other [Member] | Foreclosure/ Default [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 2 | 1 | ||
Recorded Investments | $ 282 | $ 17 | $ 282 | $ 17 |
Leases - Additional Information
Leases - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019USD ($) | Jun. 30, 2019USD ($)OfficeLocationBranch | Jan. 01, 2019USD ($) | |
Lessee Lease Description [Line Items] | |||
Number of office locations leased | OfficeLocation | 3 | ||
Number of branch locations leased | Branch | 2 | ||
Lessee, Operating Lease, Existence of Option to Extend [true false] | true | ||
Description of option to extend | Certain lease arrangements contain extension options which range from five to ten years at the then fair market rental rates. | ||
Operating Lease, Liability | $ 2,169 | $ 2,169 | |
Operating lease costs | 133,000 | 244,000 | |
ASU 2016-02 [Member] | |||
Lessee Lease Description [Line Items] | |||
Operating Lease, Right-of-Use Asset | 2,100 | 2,100 | $ 2,100 |
Operating Lease, Liability | $ 2,200 | $ 2,200 | $ 2,200 |
Minimum [Member] | |||
Lessee Lease Description [Line Items] | |||
Operating leases remaining term | 2 years | 2 years | |
Option to extend term | 5 years | ||
Maximum [Member] | |||
Lessee Lease Description [Line Items] | |||
Operating leases remaining term | 10 years | 10 years | |
Option to extend term | 10 years |
Leases - Summary of Other Infor
Leases - Summary of Other Information Related to Operating Leases (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Cash paid for amounts included in the measurement of lease liabilities | |
Operating cash flows from operating leases | $ 169 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 2,107 |
Weighted-average remaining lease term - operating leases, in years | 7 years 10 months 24 days |
Weighted-average discount rate - operating leases | 2.80% |
Leases - Summary of the Maturit
Leases - Summary of the Maturity of Remaining Lease Liabilities (Detail) $ in Thousands | Jun. 30, 2019USD ($) |
Operating Lease Liabilities Payments Due [Abstract] | |
2019 | $ 188 |
2020 | 381 |
2021 | 347 |
2022 | 225 |
2023 | 229 |
2024 and thereafter | 1,079 |
Total lease payments | 2,449 |
Less: Interest | (280) |
Operating Lease, Liability | $ 2,169 |
Commitments and Contingencies -
Commitments and Contingencies - Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) $ in Thousands | Jun. 30, 2019USD ($) |
Loss Contingencies [Line Items] | |
Total commitments | $ 130,972 |
Commitments to Extend Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 118,650 |
Credit Card Commitments [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 11,278 |
Standby Letters of Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | $ 1,044 |
Fair Value Disclosures - Fair V
Fair Value Disclosures - Fair Value Information for Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 87,741 | $ 91,299 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 4,974 | 4,771 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5,008 | 4,955 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 82,733 | 86,344 |
Fair Value on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 87,741 | 91,299 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5,008 | 4,955 |
Fair Value on a Recurring Basis [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 33,003 | 51,916 |
Fair Value on a Recurring Basis [Member] | GSE - Mortgage-backed Securities and CMO's [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 32,320 | 16,702 |
Fair Value on a Recurring Basis [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 12,436 | 12,955 |
Fair Value on a Recurring Basis [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 4,974 | 4,771 |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5,008 | 4,955 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5,008 | 4,955 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 82,733 | 86,344 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 33,003 | 51,916 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | GSE - Mortgage-backed Securities and CMO's [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 32,320 | 16,702 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 12,436 | 12,955 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 4,974 | 4,771 |
Fair Value on a Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | $ 0 | $ 0 |
Fair Value Disclosures - Assets
Fair Value Disclosures - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Estimated Fair Value | $ 87,741 | $ 91,299 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Estimated Fair Value | 5,008 | 4,955 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Estimated Fair Value | 82,733 | 86,344 |
Fair Value on a Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,228 | 3,279 |
Other real estate owned | 686 | 951 |
Available-for-sale Securities, Estimated Fair Value | 3,914 | 4,230 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,228 | 3,279 |
Other real estate owned | 686 | 951 |
Available-for-sale Securities, Estimated Fair Value | 3,914 | 4,230 |
Total liabilities at fair value | $ 0 | $ 0 |
Fair Value Disclosures - Quanti
Fair Value Disclosures - Quantitative Information about Level 3 Fair Value Measurements (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Discounted Cash Flows [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted cash flows | |
Discounted Cash Flows [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 4.00% | 4.00% |
Discounted Cash Flows [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 8.75% | 8.75% |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 25.00% | 25.00% |
OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | |
OREO [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
OREO [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 10.00% | 10.00% |
Fair Values of Financial Inst_3
Fair Values of Financial Instruments and Interest Rate Risk - Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
FINANCIAL ASSETS | ||
Securities available for sale | $ 87,741 | $ 91,299 |
Securities held to maturity | 10,704 | 10,750 |
Loans held for investment, net | 372,387 | 367,596 |
Accrued interest receivable | 1,733 | 1,763 |
FINANCIAL LIABILITIES | ||
Long-term debt | 9,974 | 9,974 |
Accrued interest payable | 47 | 16 |
Carrying Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 112,858 | 117,934 |
Securities available for sale | 87,741 | 91,299 |
Securities held to maturity | 10,639 | 10,837 |
Loans held for investment, net | 374,566 | 367,596 |
Loans held for sale | 2,517 | 4,800 |
Restricted stock | 1,144 | 1,094 |
Loan servicing rights | 1,657 | 1,850 |
Accrued interest receivable | 1,733 | 1,763 |
FINANCIAL LIABILITIES | ||
Deposits | 556,916 | 566,901 |
Short-term borrowings | 839 | 1,190 |
Long-term debt | 9,974 | 9,974 |
Accrued interest payable | 47 | 16 |
Estimated Fair Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 112,853 | 117,901 |
Securities available for sale | 87,741 | 91,299 |
Securities held to maturity | 10,704 | 10,750 |
Loans held for investment, net | 373,442 | 364,636 |
Loans held for sale | 2,517 | 4,800 |
Restricted stock | 1,144 | 1,094 |
Loan servicing rights | 3,338 | 3,455 |
Accrued interest receivable | 1,733 | 1,763 |
FINANCIAL LIABILITIES | ||
Deposits | 530,741 | 521,508 |
Short-term borrowings | 839 | 1,190 |
Long-term debt | 9,984 | 10,086 |
Accrued interest payable | 47 | 16 |
Level 1 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 110,617 | 115,693 |
Securities available for sale | 5,008 | 4,955 |
Restricted stock | 1,144 | 1,094 |
Level 2 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 2,236 | 2,208 |
Securities available for sale | 82,733 | 86,344 |
Securities held to maturity | 10,704 | 10,750 |
Loans held for sale | 2,517 | 4,800 |
Loan servicing rights | 3,338 | 3,455 |
FINANCIAL LIABILITIES | ||
Deposits | 530,741 | 521,508 |
Short-term borrowings | 839 | 1,190 |
Level 3 [Member] | ||
FINANCIAL ASSETS | ||
Loans held for investment, net | 373,442 | 364,636 |
Accrued interest receivable | 1,733 | 1,763 |
FINANCIAL LIABILITIES | ||
Long-term debt | 9,984 | 10,086 |
Accrued interest payable | $ 47 | $ 16 |
Fair Values of Financial Inst_4
Fair Values of Financial Instruments and Interest Rate Risk - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Short term borrowings due period | 1 year |