Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 16, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | NORTHWEST INDIANA BANCORP | ||
Entity Central Index Key | 919,864 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Accelerated Filer | ||
Entity Public Float | $ 93,491,671 | ||
Trading Symbol | NWIN | ||
Entity Common Stock, Shares Outstanding | 2,868,940 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and non-interest bearing deposits in other financial institutions | $ 10,529 | $ 15,338 |
Interest bearing deposits in other financial institutions | 139 | 28,671 |
Federal funds sold | 357 | 215 |
Total cash and cash equivalents | 11,025 | 44,224 |
Certificates of deposit in other financial institutions | 1,676 | 885 |
Securities available-for-sale | 244,490 | 233,625 |
Loans held-for-sale | 1,592 | 2,193 |
Loans receivable | 620,211 | 583,650 |
Less: allowance for loan losses | (7,482) | (7,698) |
Net loans receivable | 612,729 | 575,952 |
Federal Home Loan Bank stock | 3,000 | 3,000 |
Accrued interest receivable | 3,262 | 3,086 |
Premises and equipment | 19,559 | 19,287 |
Foreclosed real estate | 1,699 | 2,665 |
Cash value of bank owned life insurance | 19,355 | 18,895 |
Goodwill | 2,792 | 2,792 |
Other assets | 6,080 | 7,022 |
Total assets | 927,259 | 913,626 |
Deposits: | ||
Non-interest bearing | 120,556 | 111,800 |
Interest bearing | 672,448 | 667,971 |
Total | 793,004 | 779,771 |
Repurchase agreements | 11,300 | 13,998 |
Borrowed funds | 20,881 | 25,828 |
Accrued expenses and other liabilities | 10,014 | 9,921 |
Total liabilities | 835,199 | 829,518 |
Stockholders' Equity: | ||
Preferred stock, no par or stated value; 10,000,000 shares authorized, none outstanding | 0 | 0 |
Common stock, no par or stated value; 10,000,000 shares authorized; shares issued: December 31, 2017 - 2,920,545 December 31, 2016 - 2,916,195 shares outstanding: December 31, 2017 - 2,864,507 December 31, 2016 - 2,860,157 | 361 | 361 |
Additional paid-in capital | 4,506 | 4,300 |
Accumulated other comprehensive income (loss) | 684 | (1,506) |
Retained earnings | 86,509 | 80,953 |
Total stockholders' equity | 92,060 | 84,108 |
Total liabilities and stockholders' equity | $ 927,259 | $ 913,626 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 2,920,545 | 2,916,195 |
Common stock, shares outstanding | 2,864,507 | 2,860,157 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Loans receivable | ||
Real estate loans | $ 22,697 | $ 22,474 |
Commercial loans | 4,143 | 3,772 |
Consumer loans | 19 | 24 |
Total loan interest | 26,859 | 26,270 |
Securities | 6,434 | 6,097 |
Other interest earning assets | 65 | 32 |
Total interest income | 33,358 | 32,399 |
Interest expense: | ||
Deposits | 2,059 | 1,770 |
Repurchase agreements | 113 | 98 |
Borrowed funds | 420 | 477 |
Total interest expense | 2,592 | 2,345 |
Net interest income | 30,766 | 30,054 |
Provision for loan losses | 1,200 | 1,268 |
Net interest income after provision for loan losses | 29,566 | 28,786 |
Noninterest income: | ||
Fees and service charges | 3,311 | 2,910 |
Wealth management operations | 1,711 | 1,680 |
Gain on sale of loans held-for-sale, net | 1,200 | 1,609 |
Gain on sale of securities, net | 860 | 826 |
Increase in cash value of bank owned life insurance | 460 | 469 |
Gain on sale of foreclosed real estate | 103 | 100 |
Other | 107 | 19 |
Total noninterest income | 7,752 | 7,613 |
Noninterest expense: | ||
Compensation and benefits | 14,219 | 13,979 |
Occupancy and equipment | 3,281 | 3,634 |
Data processing | 1,453 | 1,339 |
Marketing | 595 | 517 |
Professional services | 443 | 365 |
Statement and check processing | 383 | 373 |
Federal deposit insurance premiums | 336 | 454 |
Other | 4,778 | 4,048 |
Total noninterest expense | 25,488 | 24,709 |
Income before income tax expenses | 11,830 | 11,690 |
Income tax expenses | 2,869 | 2,548 |
Net income | $ 8,961 | $ 9,142 |
Earnings per common share: | ||
Basic | $ 3.13 | $ 3.2 |
Diluted | 3.13 | 3.2 |
Dividends declared per common share | $ 1.15 | $ 1.11 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Net income | $ 8,961 | $ 9,142 |
Net change in net unrealized gains and losses on securities available-for-sale: | ||
Unrealized gain/(loss) arising during the period | 4,009 | (3,551) |
Less: reclassification adjustment for gains included in net income | (860) | (826) |
Net securities gain/(loss) during the period | 3,149 | (4,377) |
Tax effect | (1,070) | 1,493 |
Net of tax amount | 2,079 | (2,884) |
Net change in unrealized gain on postretirement benefit: | ||
Termination of plan | 0 | (28) |
Amortization of net actuarial gain | 0 | 0 |
Net loss during the period | 0 | (28) |
Tax effect | 0 | 0 |
Net of tax amount | 0 | (28) |
Other comprehensive gain/(loss), net of tax | 2,079 | (2,912) |
Comprehensive income, net of tax | $ 11,040 | $ 6,230 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive (Loss)/Income [Member] | Retained Earnings [Member] |
Balance at beginning of period at Dec. 31, 2015 | $ 80,909 | $ 361 | $ 4,158 | $ 1,406 | $ 74,984 |
Comprehensive income: | |||||
Net income | 9,142 | 0 | 0 | 0 | 9,142 |
Net unrealized gain (loss) on securities available-for-sale, net of reclassifications and tax effects | (2,884) | 0 | 0 | (2,884) | 0 |
Termination of plan | (28) | 0 | 0 | (28) | 0 |
Comprehensive income | 6,230 | ||||
Stock-based compensation expense | 142 | 0 | 142 | 0 | 0 |
Cash dividends | (3,173) | 0 | 0 | 0 | (3,173) |
Balance at end of period at Dec. 31, 2016 | 84,108 | 361 | 4,300 | (1,506) | 80,953 |
Comprehensive income: | |||||
Net income | 8,961 | 0 | 0 | 0 | 8,961 |
Net unrealized gain (loss) on securities available-for-sale, net of reclassifications and tax effects | 2,079 | 0 | 0 | 2,079 | 0 |
Termination of plan | 0 | ||||
Comprehensive income | 11,040 | ||||
Exercise of 500 incentive stock option shares at $28.50 per share | 14 | 0 | 14 | 0 | 0 |
Stock-based compensation expense | 192 | 0 | 192 | 0 | 0 |
Reclassification related to tax effect of unrealized gains | 0 | 0 | 0 | 111 | (111) |
Cash dividends | (3,294) | 0 | 0 | 0 | (3,294) |
Balance at end of period at Dec. 31, 2017 | $ 92,060 | $ 361 | $ 4,506 | $ 684 | $ 86,509 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Common Stock, Dividends, Per Share, Cash Paid | $ 1.15 | $ 1.11 |
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period | 500 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 28.50 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 8,961 | $ 9,142 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Origination of loans for sale | (42,212) | (58,338) |
Sale of loans originated for sale | 43,980 | 60,163 |
Depreciation and amortization, net of accretion | 2,548 | 2,502 |
Deferred tax expense | 377 | 125 |
Reclassification related to tax effect of unrealized gains | (111) | 0 |
Amortization of mortgage servicing rights | 64 | 52 |
Stock based compensation expense | 192 | 142 |
Gain on sale of securities, net | (860) | (826) |
Gain on sale of loans held-for-sale, net | (1,200) | (1,609) |
Gain on sale of foreclosed real estate | (103) | (100) |
Provision for loan losses | 1,200 | 1,268 |
Net change in: | ||
Interest receivable | (176) | (86) |
Other assets | (455) | (858) |
Accrued expenses and other liabilities | 93 | (1,187) |
Total adjustments | 3,337 | 1,248 |
Net cash - operating activities | 12,298 | 10,390 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities of certificates of deposit in other financial institutions | 245 | 0 |
Purchase of certificates of deposit in other financial institutions | (1,036) | (885) |
Proceeds from maturities and pay downs of securities available-for-sale | 25,033 | 49,412 |
Proceeds from sales of securities available-for-sale | 56,347 | 44,258 |
Purchase of securities available-for-sale | (89,399) | (98,633) |
Loan participations purchased | (796) | 0 |
Net change in loans receivable | (37,390) | (14,070) |
Purchase of premises and equipment, net | (1,657) | (1,710) |
Proceeds from sale of foreclosed real estate, net | 1,278 | 820 |
Change in cash value of bank owned life insurance | (460) | (469) |
Net cash - investing activities | (47,835) | (21,277) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Change in deposits | 13,233 | 64,896 |
Proceeds from FHLB advances | 9,000 | 11,000 |
Repayment of FHLB advances | (17,000) | (25,000) |
Change in other borrowed funds | 355 | (4,175) |
Proceeds from exercise of incentive stock options | 14 | 0 |
Dividends paid | (3,264) | (3,143) |
Net cash - financing activities | 2,338 | 43,578 |
Net change in cash and cash equivalents | (33,199) | 32,691 |
Cash and cash equivalents at beginning of period | 44,224 | 11,533 |
Cash and cash equivalents at end of period | 11,025 | 44,224 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 2,591 | 2,349 |
Income taxes | 1,895 | 2,655 |
Noncash activities: | ||
Transfers from loans to foreclosed real estate | $ 349 | $ 1,794 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 1 - Summary of Significant Accounting Policies Principles of Consolidation Use of Estimates Concentrations of Credit Risk Cash Flow Reporting Certificates of deposits in other financial institutions Securities The Bancorp considers the following factors when determining an other-than-temporary impairment for a security: the length of time and the extent to which the market value has been less than amortized cost; the financial condition and near-term prospects of the issuer; the underlying fundamentals of the relevant market and the outlook for such market for the near future; and an assessment of whether the Bancorp has (1) the intent to sell the debt security or (2) it is more likely than not that the Bancorp will be required to sell the debt security before its anticipated market recovery. If either of these conditions are met, management will recognize other-than-temporary impairment. If, in management’s judgment, an other-than-temporary impairment exists, the cost basis of the security will be written down for the credit loss, and the unrealized credit loss will be transferred from accumulated other comprehensive loss as an immediate reduction of current earnings. Loans Held-for-Sale Mortgage loans held-for-sale can be sold with servicing rights retained or released. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing rights. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. Loans and Loan Income The accrual of interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer loans are typically charged-off no later than when they reach 120 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on non-accrual or charged-off status at an earlier date if collection of principal or interest is considered doubtful. Generally, interest accrued but not received for loans placed on non-accrual status is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Allowance for Loan Losses A loan is considered impaired when, based on current information and events, it is probable that the Bancorp will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case by case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Bancorp does not separately identify individual consumer and residential loans for impairment disclosures. Troubled Debt Restructures Some of the factors considered by management when determining whether a borrower is experiencing financial difficulties are: (1) is the borrower currently in default on any of its debts, (2) has the borrower declared or is the borrower in the process of declaring bankruptcy, and (3) absent the current modification, the borrower would likely default. Federal Home Loan Bank Stock Transfers of Financial Assets Premises and Equipment Foreclosed Real Estate Long-term Assets Bank Owned Life Insurance Goodwill and Intangibles Repurchase Agreements Income Taxes At December 31, 2017 and 2016, the Bancorp evaluated tax positions taken for filing with the Internal Revenue Service and all state jurisdictions in which it operates. The Bancorp believes that income tax filing positions will be sustained under examination and does not anticipate any adjustments that would result in a material adverse effect on the Bancorp's financial condition, results of operations, or cash flows. Accordingly, the Bancorp has not recorded any reserves or related accruals for interest and penalties for uncertain tax positions at December 31, 2017 and 2016. Loan Commitments and Related Financial Instruments Earnings Per Common Share Comprehensive Income Loss Contingencies Restrictions on Cash Fair Value of Financial Instruments Operating Segments Reclassification Trust Assets Adoption of New Accounting Pronouncements Revenue from Contracts with Customers (Topic 606) In January 2016, FASB issued Accounting Standards Update (ASU) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, FASB issued ASU No. 2016-02, Lease In March 2016, FASB issued ASU No. 2016-09: CompensationStock Compensation (Topic 718)Improvements to Employee Share-Based Payment Accounting In June 2016, FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In March 2017, the FASB issued ASU 2017-08, ReceivablesNonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities In February 2018, the FASB issued ASU No. 2018-02, Income Statement Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income |
Securities
Securities | 12 Months Ended |
Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2 Securities The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair December 31, 2017 Basis Gains Losses Value Money market fund $ 476 $ - $ - $ 476 U.S. government sponsored entities 3,996 - (106 ) 3,890 Collateralized mortgage obligations and residential mortgage-backed securities 134,224 170 (1,456 ) 132,938 Municipal securities 100,088 3,709 (50 ) 103,747 Collateralized debt obligations 4,835 - (1,396 ) 3,439 Total securities available-for-sale $ 243,619 $ 3,879 $ (3,008 ) $ 244,490 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair December 31, 2016 Basis Gains Losses Value Money market fund $ 222 $ - $ - $ 222 U.S. government sponsored entities 16,643 - (369 ) 16,274 Collateralized mortgage obligations and residential mortgage-backed securities 118,807 441 (1,273 ) 117,975 Municipal securities 95,242 2,146 (643 ) 96,745 Collateralized debt obligations 4,989 - (2,580 ) 2,409 Total securities available-for-sale $ 235,903 $ 2,587 $ (4,865 ) $ 233,625 The estimated fair value of available-for-sale securities and carrying amount, if different, at December 31, 2017 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Tax-equivalent yields were calculated using the 2017 tax rate. (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent December 31, 2017 Value Yield (%) Due in one year or less $ 757 7.46 Due from one to five years 6,150 4.79 Due from five to ten years 28,531 5.21 Due over ten years 76,114 4.73 Collateralized mortgage obligations and residential mortgage-backed securities 132,938 2.57 Total $ 244,490 3.62 Sales of available-for-sale securities were as follows: (Dollars in thousands) December 31, December 31, 2017 2016 Proceeds $ 56,347 $ 44,258 Gross gains 972 926 Gross losses (112 ) (100 ) The tax provisions related to these net realized gains were approximately $339 thousand for 2017 and $325 thousand for 2016. Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows: (Dollars in thousands) Unrealized Ending balance, December 31, 2016 $ (1,506 ) Current period change 2,079 Reclassification related to tax effect of unrealized gains 111 Ending balance, December 31, 2017 $ 684 Securities with carrying values of approximately $21.2 million and $32.4 million were pledged as of December 31, 2017 and 2016, respectively, as collateral for repurchase agreements, public funds, and for other purposes as permitted or required by law. Securities with unrealized losses at December 31, 2017 and 2016 not recognized in income are as follows: (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2017 Value Losses Value Losses Value Losses U.S. government sponsored entities $ - $ - $ 3,890 $ (106 ) $ 3,890 $ (106 ) Collateralized mortgage obligations and residential mortgage-backed securities 66,917 (511 ) 37,003 (945 ) 103,920 (1,456 ) Municipal securities 1,790 (3 ) 1,815 (47 ) 3,605 (50 ) Collateralized debt obligations - - 3,439 (1,396 ) 3,439 (1,396 ) Total temporarily impaired $ 68,707 $ (514 ) $ 46,147 $ (2,494 ) $ 114,854 $ (3,008 ) Number of securities 40 37 77 (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2016 Value Losses Value Losses Value Losses U.S. government sponsored entities $ 16,274 $ (369 ) $ - $ - $ 16,274 $ (369 ) Collateralized mortgage obligations and residential mortgage-backed securities 75,931 (1,183 ) 2,287 (90 ) 78,218 (1,273 ) Municipal securities 20,775 (643 ) - - 20,775 (643 ) Collateralized debt obligations - - 2,409 (2,580 ) 2,409 (2,580 ) Total temporarily impaired $ 112,980 $ (2,195 ) $ 4,696 $ (2,670 ) $ 117,676 $ (4,865 ) Number of securities 97 6 103 Unrealized losses on securities have not been recognized into income because the securities are of high credit quality, have undisrupted cash flows, or have been independently evaluated for other-than-temporary impairment and appropriate write downs taken. Management has the intent and ability to hold the securities for the foreseeable future, and the decline in fair value is largely due to changes in interest rates and volatility in the securities markets. The fair values are expected to recover as the securities approach maturity. |
Loans Receivable
Loans Receivable | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3 Loans Receivable Year end loans are summarized below: (Dollars in thousands) December 31, 2017 December 31, 2016 Loans secured by real estate: Residential real estate $ 172,780 $ 173,365 Home equity 36,718 32,614 Commercial real estate 211,090 195,438 Construction and land development 50,746 38,937 Multifamily 43,369 36,086 Total loans secured by real estate 514,703 476,440 Consumer 460 522 Commercial business 77,122 77,513 Government 28,785 29,529 Subtotal 621,070 584,004 Less: Net deferred loan origination fees (130 ) (162 ) Undisbursed loan funds (729 ) (192 ) Loans receivable $ 620,211 $ 583,650 (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the twelve months ended December 31, 2017: Allowance for loan losses: Residential real estate $ 2,111 $ (959 ) $ 3 $ 413 $ 1,568 Home equity 299 (60 ) - (73 ) 166 Commercial real estate 3,113 - - 12 3,125 Construction and land development 617 - - 1 618 Multifamily 572 - - 50 622 Consumer 34 (71 ) 18 50 31 Commercial business 896 (386 ) 39 749 1,298 Government 56 - - (2 ) 54 Total $ 7,698 $ (1,476 ) $ 60 $ 1,200 $ 7,482 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the twelve months ended December 31, 2016: Allowance for loan losses: Residential real estate $ 1,447 $ (529 ) $ 2 $ 1,191 $ 2,111 Home equity 263 - - 36 299 Commercial real estate 2,986 - - 127 3,113 Construction and land development 692 - - (75 ) 617 Multifamily 758 - - (186 ) 572 Consumer 38 (33 ) 9 20 34 Commercial business 699 - 28 169 896 Government 70 - - (14 ) 56 Total $ 6,953 $ (562 ) $ 39 $ 1,268 $ 7,698 Ending Balances Loans Purchased Loans Individually Collectively receivable credit impaired receivable (Dollars in thousands) evaluated for evaluated for Individually individually Collectively impairment impairment Loan evaluated for evaluated for evaluated for reserves reserves receivables impairment impairment impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2017: Residential real estate $ 21 $ 1,547 $ 172,141 $ 462 $ 690 $ 170,989 Home equity - 166 36,769 - - 36,769 Commercial real estate 144 2,981 211,090 512 - 210,578 Construction and land development - 618 50,746 134 - 50,612 Multifamily - 622 43,368 - - 43,368 Commercial business 539 759 76,851 724 - 76,127 Consumer - 31 461 - - 461 Government - 54 28,785 - - 28,785 Total $ 704 $ 6,778 $ 620,211 $ 1,832 $ 690 $ 617,689 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2016: Residential real estate $ 879 $ 1,232 $ 173,262 $ 1,419 $ 956 $ 170,886 Home equity - 299 32,575 - - 32,575 Commercial real estate 3 3,110 195,438 322 - 195,116 Construction and land development - 617 38,937 134 - 38,804 Multifamily - 572 36,086 - - 36,086 Commercial business 354 542 77,299 687 - 76,612 Consumer - 34 524 - - 524 Government - 56 29,529 - - 29,529 Total $ 1,236 $ 6,462 $ 583,650 $ 2,562 $ 956 $ 580,132 The Bancorp has established a standard loan grading system to assist management, lenders and review personnel in their analysis and supervision of the loan portfolio. The use and application of theses grades by the Bancorp is uniform and conforms to regulatory definitions. The loan grading system is as follows: 1 Minimal Risk Borrower demonstrates exceptional credit fundamentals, including stable and predictable profit margins, strong liquidity and a conservative balance sheet with superior asset quality. Excellent cash flow coverage of existing and projected debt service. Historic and projected performance indicates borrower is able to meet obligations under almost any economic circumstances. 2 Moderate risk Borrower consistently internally generates sufficient cash flow to fund debt service, working assets, and some capital expenditures. Risk of default considered low. 3 Above average acceptable risk Borrower generates sufficient cash flow to fund debt service and some working assets and/or capital expansion needs. Profitability and key balance sheet ratios are at or slightly above peers. Current trends are positive or stable. Earnings may be level or trending down slightly or be erratic; however, positive strengths are offsetting. Risk of default is reasonable but may warrant collateral protection. 4 Acceptable risk Borrower generates sufficient cash flow to fund debt service, but most working asset and all capital expansion needs are provided from external sources. Profitability ratios and key balance sheet ratios are usually close to peers but one or more ratios (e.g. leverage) may be higher than peer. Earnings may be trending down over the last three years. Borrower may be able to obtain similar financing from other banks with comparable or less favorable terms. Risk of default is acceptable but requires collateral protection. 5 Marginally acceptable risk Borrower may exhibit excessive growth, declining earnings, strained cash flow, increasing leverage and/or weakening market position that indicate above average risk. Limited additional debt capacity, modest coverage, and average or below average asset quality, margins and market share. Interim losses and/or adverse trends may occur, but not to the level that would affect the Bank’s position. The potential for default is higher than normal but considered marginally acceptable based on prospects for improving financial performance and the strength of the collateral. 6 Pass/monitor The borrower has significant weaknesses resulting from performance trends or management concerns. The financial condition of the company has taken a negative turn and may be temporarily strained. Cash flow may be weak but cash reserves remain adequate to meet debt service. Management weaknesses are evident. Borrowers in this category will warrant more than the normal level of supervision and more frequent reporting. 7 Special mention (watch) Special mention credits are considered bankable assets with no apparent loss of principal or interest envisioned but requiring a high level of management attention. Assets in this category are currently protected but are potentially weak. These borrowers are subject to economic, industry, or management factors having an adverse impact upon their prospects for orderly service of debt. The perceived risk in continued lending is considered to have increased beyond the level where such loans would normally be granted. These assets constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of Substandard. 8 Substandard This classification consists of loans which are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. Financial statements normally reveal some or all of the following: poor trends, lack of earnings and cash flow, excessive debt, lack of liquidity, and the absence of creditor protection. Loans are still considered collectible, but due to increased risks and defined weaknesses of the credit, some loss could be incurred in collection if the deficiencies are not corrected. 9 Doubtful This classification consists of loans where the possibility of loss is high after collateral liquidation based upon existing facts, market conditions, and value. Loss is deferred until certain important and reasonably specific pending factors which may strengthen the credit can be exactly determined. These factors may include proposed acquisitions, liquidation procedures, capital injection and receipt of additional collateral, mergers or refinancing plans. Performing loans are loans that are paying as agreed and are approximately less than ninety days past due on payments of interest and principal. The Bancorp's credit quality indicators are summarized below at December 31, 2017 and December 31, 2016: Credit Exposure - Credit Risk Portfolio By Creditworthiness Category December 31, 2017 (Dollars in thousands) 2 3 4 5 6 7 8 Above average Marginally Special Loan Segment Moderate acceptable Acceptable acceptable Pass/monitor mention Substandard Residential real estate $ 887 $ 12,317 $ 92,241 $ 8,759 $ 50,075 $ 4,130 $ 3,732 Home equity - 1,065 34,871 - 250 233 350 Commercial real estate - 2,372 79,847 81,547 40,054 6,758 512 Construction and land development - - 20,719 19,583 10,310 - 134 Multifamily - - 20,159 20,965 2,076 168 - Commercial business 7,169 17,202 16,784 21,087 13,041 394 1,174 Consumer - 131 330 - - - - Government - 2,318 20,202 6,265 - - - Total $ 8,056 $ 35,405 $ 285,153 $ 158,206 $ 115,806 $ 11,683 $ 5,902 December 31, 2016 2 3 4 5 6 7 8 Above average Marginally Special Loan Segment Moderate acceptable Acceptable acceptable Pass/monitor mention Substandard Residential real estate $ - $ 6,069 $ 94,394 $ 7,085 $ 57,644 $ 4,015 $ 4,056 Home equity 83 1,172 30,459 - 250 236 376 Commercial real estate 248 2,708 93,293 64,950 28,306 5,611 323 Construction and land development - 439 11,355 18,913 8,097 - 134 Multifamily - - 17,123 16,836 1,939 188 - Commercial business 6,315 15,044 24,754 18,786 10,653 533 1,214 Consumer 90 4 430 - - - - Government - 955 25,474 3,100 - - - Total $ 6,736 $ 26,391 $ 297,282 $ 129,669 $ 106,888 $ 10,582 $ 6,102 One commercial real estate loan and one residential real estate loan totaling $213 thousand were modified as a troubled debt restructuring during 2017. No troubled debt restructurings defaulted during 2017. All of the loans classified as troubled debt restructurings are also considered impaired. The valuation basis for the Bancorp’s troubled debt restructurings is based on the present value of cash flows, unless consistent cash flows are not present, then the fair value of the collateral securing the loan is the basis for valuation. The Bancorp's individually evaluated impaired loans are summarized below: For the twelve months ended As of December 31, 2017 December 31, 2017 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded: Residential real estate $ 1,072 $ 3,351 $ - $ 1,101 $ 70 Commercial real estate 253 253 - 339 6 Construction and land development 134 134 - 134 - Commercial business 184 184 - 198 10 With an allowance recorded: Residential real estate 80 270 21 256 1 Commercial real estate 259 259 144 163 - Construction and land development - - - - - Commercial business 540 540 539 492 - Total: Residential real estate $ 1,152 $ 3,621 $ 21 $ 1,357 $ 71 Commercial real estate $ 512 $ 512 $ 144 $ 502 $ 6 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 724 $ 724 $ 539 $ 690 $ 10 For the twelve months ended As of December 31, 2016 December 31, 2016 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded: Residential real estate $ 1,309 $ 3,293 $ - $ 2,582 $ 120 Commercial real estate 305 305 - 1,138 6 Construction and land development 134 134 - 134 - Commercial business 212 212 - 168 4 With an allowance recorded: Residential real estate 1,066 1,066 879 348 6 Commercial real estate 18 18 3 89 - Construction & land development - - - - - Commercial business 475 475 354 324 1 Total: Residential real estate $ 2,375 $ 4,359 $ 879 $ 2,930 $ 126 Commercial real estate $ 323 $ 323 $ 3 $ 1,227 $ 6 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 687 $ 687 $ 354 $ 492 $ 5 As a result of acquisition activity, the Bancorp acquired loans for which there was evidence of credit quality deterioration since origination and it was determined that it was probable that the Bancorp would be unable to collect all contractually required principal and interest payments. At December 31, 2017, purchased credit impaired loans with unpaid principal balances totaled $2.6 million with a recorded investment of $690 thousand. At December 31, 2016, purchased credit impaired loans with unpaid principal balances totaled $2.9 million with a recorded investment of $956 thousand. The Bancorp's age analysis of past due loans is summarized below: (Dollars In thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Total Loans Recorded Investments Greater than 90 Days Past Due and Accruing December 31, 2017 Residential real estate $ 4,921 $ 1,751 $ 3,092 $ 9,764 $ 162,377 $ 172,141 $ 225 Home equity 295 18 234 547 36,222 36,769 2 Commercial real estate 951 96 332 1,379 209,711 211,090 - Construction and land development - - 133 133 50,613 50,746 - Multifamily 319 - - 319 43,049 43,368 - Commercial business 285 162 539 986 75,865 76,851 - Consumer 1 - - 1 460 461 - Government - - - - 28,785 28,785 - Total $ 6,772 $ 2,027 $ 4,330 $ 13,129 $ 607,082 $ 620,211 $ 227 December 31, 2016 Residential real estate $ 3,640 $ 1,702 $ 3,804 $ 9,146 $ 164,115 $ 173,262 $ 436 Home equity 334 73 220 626 31,949 32,575 64 Commercial real estate 208 189 323 720 194,718 195,438 - Construction and land development - - 134 134 38,804 38,937 - Multifamily 188 - - 188 35,898 36,086 - Commercial business 171 217 465 853 76,445 77,299 - Consumer - - - - 524 524 - Government - - - - 29,529 29,529 - Total $ 4,541 $ 2,181 $ 4,946 $ 11,668 $ 571,982 $ 583,650 $ 500 The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) December 31, December 31, 2017 2016 Residential real estate $ 3,509 $ 4,146 Home equity 350 376 Commercial real estate 332 323 Construction and land development 133 134 Multifamily - - Commercial business 672 628 Consumer - - Government - - Total $ 4,996 $ 5,605 |
Premises and Equipment, Net
Premises and Equipment, Net | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 4 Premises and Equipment, Net At year end, premises and equipment are summarized as follows: (Dollars in thousands) 2017 2016 Cost: Land $ 5,216 $ 5,216 Buildings and improvements 23,672 22,854 Furniture and equipment 14,908 14,267 Total cost 43,796 42,337 Less accumulated depreciation (24,237 ) (23,050 ) Premises and equipment, net $ 19,559 $ 19,287 Depreciation expense was approximately $1.38 million and $1.35 million for 2017 and 2016, respectively. |
Foreclosed Real Estate
Foreclosed Real Estate | 12 Months Ended |
Dec. 31, 2017 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | |
Real Estate Disclosure [Text Block] | Note 5 Foreclosed Real Estate At year end, foreclosed real estate is summarized below: (Dollars in thousands) 2017 2016 Residential real estate, including home equity $ 914 $ 1,810 Commercial real estate, construction & land development and other dwellings 785 855 Total $ 1,699 $ 2,665 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6 Goodwill and Other Intangible Assets The Bancorp established a goodwill balance totaling $2.8 million with the acquisitions of First Federal Savings & Loan (First Federal) and Liberty Savings Bank (Liberty Savings). Goodwill of $2.0 million was established with the acquisition of First Federal and goodwill of $804 thousand was established with the acquisition of Liberty Savings. Goodwill is tested annually for impairment. Goodwill arising from business combinations represents the value attributable to unidentifiable intangible assets in the business acquired. The Bancorp’s goodwill relates to the value inherent in the banking industry and that value is dependent upon the ability of the Bancorp to provide quality, cost effective banking services in a competitive marketplace. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. There has not been any impairment of goodwill identified or recorded. During the second quarter of 2016, original estimates related to Liberty Savings goodwill components were adjusted. Estimates of fair values related to a pool of purchased loans were determined to be lower than originally estimated, which led to the addition of $178 thousand to goodwill. Fixed asset valuations were also determined to be higher than originally estimated, which led to a reduction of $109 thousand to goodwill. Also, the valuation of the accrued withdrawal liability for the defined benefit plan was determined to be higher than originally estimated leading to the addition of $162 thousand to goodwill. Goodwill totaled $2.8 million at December 31, 2017 and December 31, 2016. In addition to goodwill, a core deposit intangible of $93 thousand for the acquisition of First Federal was established and is being amortized over 7.9 years on a straight line basis. Approximately $12 thousand of amortization was taken during the years ended December 31, 2017 and December 31, 2016. It is estimated that $12 thousand of additional amortization will occur annually from 2018 through 2021, and the remaining amount will be amortized through to the first quarter of 2022. A core deposit intangible of $471 thousand for the acquisition of Liberty Savings was established and is being amortized over 8.2 years on a straight line basis. Approximately $58 thousand of amortization was taken during the years ended December 31, 2017 and December 31, 2016. It is estimated that $58 thousand of additional amortization will occur annually from 2018 to 2022, and the remaining amount will be amortized through to the third quarter of 2023. For the First Federal acquisition, as part of the fair value of loans receivable, a net fair value discount was established for residential real estate, including home equity lines of credit, of $1.1 million that is being accreted over 55 months on a straight line basis. Approximately $149 thousand of accretion was taken into income for the year ended December 31, 2017, compared to $217 thousand for the year ended December 31, 2016. It is estimated that $160 thousand of accretion will occur in 2018. Similarly, for the Liberty Savings acquisition, as part of the fair value of loans receivable, a net fair value discount was established for residential real estate, including home equity lines of credit, of $1.2 million that is being accreted over 44 months on a straight line basis. Approximately $307 thousand of accretion was taken into income for the year ended December 31, 2017, compared to $389 thousand of accretion was taken into income for the year ended December 31, 2016. It is estimated that $264 thousand of accretion will occur during 2018, and accretion of $44 thousand will occur during 2019. For the Liberty Savings acquisition, as part of the fair value of certificates of deposit, a fair value premium was established of $124 thousand that was amortized over 17 months on a straight line basis. No amortization was taken as expense during the year ended December 31, 2017, compared to $80 thousand of amortization taken as expense during the year ended December 31, 2016. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 7 Income Taxes At year-end, components of income tax expense/(benefit) consist of the following: (Dollars in thousands) 2017 2016 Federal: Current $ 1,898 $ 2,343 Deferred 275 (129 ) Revaluation of net deferred tax asset 517 - State: Current 77 80 Deferred, net of valuation allowance 102 254 Income tax expense $ 2,869 $ 2,548 Effective tax rates differ from the federal statutory rate of 34% applied to income before income taxes due to the following: (Dollars in thousands) 2017 2016 Federal statutory rate 34 % 34 % Tax expense at statutory rate $ 4,022 $ 3,975 State tax, net of federal effect 118 220 Tax exempt income (1,302 ) (1,318 ) Bank owned life insurance (156 ) (160 ) Captive insurance (307 ) (179 ) Revaluation of net deferred tax asset 517 - Other (23 ) 10 Total income tax expense $ 2,869 $ 2,548 At December 31, the components of the net deferred tax asset recorded in the consolidated balance sheets are as follows: (Dollars in thousands) 2017 2016 Deferred tax assets: Bad debts $ 1,885 $ 2,872 Deferred loan fees 32 60 Deferred compensation 332 503 Unrealized depreciation on securities available-for-sale, net - 771 Net operating loss, state 290 294 Tax credits 99 98 Nonaccrual loan interest income 71 109 Share based compensation 133 126 REO writedowns 25 - Unqualified deferred compensation plan 51 74 Other-than-temporary impairment 57 92 Accrued vacation 59 129 Impairment on land 48 71 Other 15 29 Total deferred tax assets 3,097 5,228 Deferred tax liabilities: Depreciation (641 ) (850 ) Prepaids (237 ) (346 ) Mortgage servicing rights (26 ) (51 ) Deferred stock dividends (65 ) (97 ) Unrealized appreciation on securities available-for-sale, net (188 ) - Purchase accounting (100 ) (88 ) Other (209 ) (181 ) Total deferred tax liabilities (1,466 ) (1,613 ) Valuation allowance (80 ) (98 ) Net deferred tax asset $ 1,551 $ 3,517 On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was signed into law. Among other changes, the Act reduces the corporate federal income tax rate from 34% to 21% effective January 1, 2018. As a result of these changes made by the Act, the Bancorp made the determination to revalue its net deferred tax asset, as deferred tax assets and liabilities are to be measured using enacted rates expected to apply in years in which the deferred tax assets and liabilities are expected to be recovered or settled. The revaluation of the deferred tax assets and liabilities are adjusted through income tax expense in the year the changes in tax laws are enacted. The revaluation of the net deferred tax asset resulted in additional income tax expense of $517 thousand for 2017. The $517 thousand tax expense was $628 thousand net of a tax benefit of $111 thousand relating to the other comprehensive income revaluation adjustment. At December 31, 2017, the Bancorp has a state net operating loss carry forward of approximately $6.9 million which will begin to expire in 2024 if not used. The Bancorp also has a state tax credit carry forward of approximately $126 thousand which has begun to expire in 2017 and will continue to expire if not used. Management has concluded that the state net operating loss will be fully utilized and therefore no valuation allowance is necessary on the state net operating loss. A valuation allowance remains in place on the state tax credit carryforward. A valuation allowance of $80 thousand and $98 thousand was provided at December 31, 2017 and December 31, 2016, respectively, for the state tax credits. The Bancorp qualified under provisions of the Internal Revenue Code, to deduct from taxable income a provision for bad debts in excess of the provision for such losses charged to income in the financial statements, if any. Accordingly, retained earnings at December 31, 2017 and 2016 includes, approximately $6.0 million for which no provision for federal income taxes has been made. If, in the future this portion of retained earnings is used for any purpose other than to absorb bad debt losses, federal income taxes would be imposed at the then applicable rate. The unrecorded deferred income tax liability on the above amounts was approximately $1.3 million and $2.0 million at December 31, 2017 and 2016. The Bancorp had no unrecognized tax benefits at any time during 2017 or 2016 and does not anticipate any significant increase or decrease in unrecognized tax benefits during 2018. Should the accrual of any interest or penalties relative to unrecognized tax benefits be necessary, it is the Bancorp's policy to record such accruals through income tax accounts; no such accruals existed at any time during 2017 or 2016. The Bancorp and its subsidiaries are subject to US Federal income tax as well as income tax of the states of Indiana and Illinois. The Bancorp is no longer subject to examination by taxing authorities for the years before 2014 for federal and 2013 for state. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | Note 8 Deposits The aggregate amount of certificates of deposit with a balance of $250 thousand or more was approximately $29.9 million at December 31, 2017 and $24.8 million at December 31, 2016. At December 31, 2017, scheduled maturities of certificates of deposit were as follows: (Dollars in thousands) 2018 $ 133,265 2019 39,065 2020 9,444 2021 2,051 2022 95 Total $ 183,920 |
Borrowed Funds
Borrowed Funds | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 9 Borrowed Funds At year end, borrowed funds are summarized below: (Dollars in thousands) 2017 2016 Fixed rate advances from the FHLB $ 17,100 $ 25,100 Line of credit at FHLB 3,181 28 Other 600 700 Total $ 20,881 $ 25,828 At December 31, 2017, scheduled maturities of borrowed funds were as follows: (Dollars in thousands) 2018 $ 9,881 2019 9,000 2020 2,000 Total $ 20,881 Repurchase agreements generally mature within one year and are secured by U.S. government and U.S. agency securities, under the Bancorp’s control. At December 31, information concerning these retail repurchase agreements is summarized below: (Dollars in thousands) 2017 2016 Ending balance $ 11,300 $ 13,998 Average balance during the year 13,734 17,755 Maximum month-end balance during the year 17,720 23,308 Securities underlying the agreements at year end: Carrying value 18,053 23,571 Fair value 18,053 23,571 Average interest rate during the year 0.82 % 0.55 % Average interest rate at year end 0.91 % 0.56 % At December 31, advances from the Federal Home Loan Bank were as follows: (Dollars in thousands) 2017 2016 Fixed rate advances, maturing January 2018 through June 2020 at rates from 0.97% to 2.11%; average rate: 2017 1.67%; 2016 1.40% $ 17,100 $ 25,100 Fixed rate advances are payable at maturity, with a prepayment penalty. The advances were collateralized by mortgage loans with a carrying value totaling approximately $270.8 million and $242.7 million at December 31, 2017 and 2016, respectively. In addition to the fixed rate advances, the Bancorp maintains a $20.0 million line of credit with the Federal Home Loan Bank of Indianapolis. There was a $3.2 million balance on the line of credit at December 31, 2017 compared to $28 thousand balance on the line of credit at December 31, 2016. Other borrowings at December 31, 2017 and 2016 are comprised of reclassified bank balances. |
Employees' Benefit Plans
Employees' Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | Note 10 Employees’ Benefit Plans The Bancorp maintains an Employees’ Savings and Profit Sharing Plan and Trust for all employees who meet the plan qualifications. Employees are eligible to participate in the Employees’ Savings and Profit Sharing Plan and Trust on the next January 1 or July 1 following the completion of one year of employment, attaining age 18, and completion of 1,000 hours of service. The Employees’ Savings Plan feature allows employees to make pre-tax contributions to the Employees’ Savings Plan of 1% to 50% of Plan Salary, subject to limitations imposed by Internal Revenue Code section 401(k). Employees are able to begin deferring effective the first of the month following 90 days of employment. The Profit Sharing Plan and Trust feature is non-contributory on the part of the employee. Contributions to the Employees’ Profit Sharing Plan and Trust are made at the discretion of the Bancorp’s Board of Directors. Contributions for the years ended December 31, 2017 were based on 8% of the participants’ total compensation, excluding incentives, as compared to 9% for 2016. Profit sharing contributions made by the Bank and earnings credited to the employee’s account vest on the following schedule: two years of service, 40% of contributions and earnings; three years of service, 60% of contributions and earnings; four years of service, 80% of contributions and earnings; and five years of service, 100% of contributions and earnings. Participants also become 100% vested in the employer contributions and accrued earnings in their account upon their death, approved disability, or attainment of age 65 while employed at the Bank. The benefit plan expense amounted to approximately $796 thousand for 2017 and $843 thousand for 2016. The Bancorp maintains an Unqualified Deferred Compensation Plan (the “UDC Plan”). The purpose of the UDC Plan is to provide deferred compensation to key senior management employees of the Bancorp in order to recognize their substantial contributions to the Bank and provide them with additional financial security as inducement to remain with the Bank. The Compensation Committee selects which persons shall be participants in the UDC Plan. Participants’ accounts are credited each year with an amount based on a formula involving the participant’s employer funded contributions under all qualified plans and the limitations imposed by Internal Revenue Code subsection 401(a)(17) and Code section 415. The unqualified deferred compensation plan liability at December 31, 2017 and 2016 was approximately $211 thousand and $200 thousand, respectively. The UDC Plan expense amounted to approximately $6 thousand for 2017 and $13 thousand for 2016. Directors have deferred some of their fees in consideration of future payments. Fee deferrals, including interest, totaled approximately $68 thousand and $72 thousand for 2017 and 2016, respectively. The deferred fee liability at December 31, 2017 and 2016 was approximately $1.3 million and $1.4 million, respectively. |
Regulatory Capital
Regulatory Capital | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 11 Regulatory Capital The Bancorp and Bank are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet various capital requirements can initiate regulatory action. Prompt corrective action regulations provide five classifications, including well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At December 31, 2017 and 2016, the most recent regulatory notifications categorized the Bancorp and Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the Bancorp’s or the Bank’s category. The following table shows that, at December 31, 2017, and December 31, 2016, the Bancorp’s capital exceeded all applicable regulatory capital requirements. The dollar amounts are in millions. (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 88.4 12.9 % $ 30.9 4.5 % N/A N/A Tier 1 capital to risk-weighted assets $ 88.4 12.9 % $ 41.2 6.0 % N/A N/A Total capital to risk-weighted assets $ 96.0 14.0 % $ 55.0 8.0 % N/A N/A Tier 1 capital to adjusted average assets $ 88.4 9.6 % $ 36.8 4.0 % N/A N/A (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 82.4 13.1 % $ 28.3 4.5 % N/A N/A Tier 1 capital to risk-weighted assets $ 82.4 13.1 % $ 37.8 6.0 % N/A N/A Total capital to risk-weighted assets $ 90.1 14.3 % $ 50.4 8.0 % N/A N/A Tier 1 capital to adjusted average assets $ 82.4 9.2 % $ 36.0 4.0 % N/A N/A In addition, the following table shows that, at December 31, 2017, and December 31, 2016, the Bank’s capital exceeded all applicable regulatory capital requirements. The dollar amounts are in millions. (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 86.3 12.6 % $ 30.9 4.5 % $ 44.6 6.5 % Tier 1 capital to risk-weighted assets $ 86.3 12.6 % $ 41.2 6.0 % $ 54.9 8.0 % Total capital to risk-weighted assets $ 93.8 13.7 % $ 54.9 8.0 % $ 68.7 10.0 % Tier 1 capital to adjusted average assets $ 86.3 9.4 % $ 36.7 4.0 % $ 45.8 5.0 % (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 81.2 12.9 % $ 28.4 4.5 % $ 41.0 6.5 % Tier 1 capital to risk-weighted assets $ 81.2 12.9 % $ 37.9 6.0 % $ 50.5 8.0 % Total capital to risk-weighted assets $ 88.9 14.1 % $ 50.5 8.0 % $ 63.1 10.0 % Tier 1 capital to adjusted average assets $ 81.2 9.0 % $ 35.9 4.0 % $ 44.9 5.0 % The Bancorp’s ability to pay dividends to its shareholders is entirely dependent upon the Bank’s ability to pay dividends to the Bancorp. Under Indiana law, the Bank may pay dividends from its undivided profits (generally, earnings less losses, bad debts, taxes and other operating expenses) as is considered expedient by the Bank’s Board of Directors. However, the Bank must obtain the approval of the Indiana Department of Financial Institutions (DFI) if the total of all dividends declared by the Bank during the current year, including the proposed dividend, would exceed the sum of retained net income for the year to date plus its retained net income for the previous two years. For this purpose, “retained net income,” means net income as calculated for call report purposes, less all dividends declared for the applicable period. An exemption from DFI approval would require that the Bank have been assigned a composite uniform financial institutions rating of 1 or 2 as a result of the most recent federal or state examination; the proposed dividend would not result in a Tier 1 leverage ratio below 7.5%; and that the Bank not be subject to any corrective action, supervisory order, supervisory agreement, or board approved operating agreement. The aggregate amount of dividends that may be declared by the Bank in 2018, without the need for qualifying for an exemption or prior DFI approval, is $10.2 million plus 2018 net profits. Moreover, the FDIC and the Federal Reserve Board may prohibit the payment of dividends if it determines that the payment of dividends would constitute an unsafe or unsound practice in light of the financial condition of the Bank. On November 17, 2017 the Board of Directors of the Bancorp declared a fourth quarter dividend of $0.29 per share. The Bancorp’s fourth quarter dividend was paid to shareholders on January 9, 2018. |
Stock Based Compensation
Stock Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 12 Stock Based Compensation The Bancorp’s 2015 Stock Option and Incentive Plan (the “Incentive Plan”), which was adopted by the Bancorp’s Board of Directors on February 17, 2015 and approved by the Bancorp’s shareholders on April 24, 2015, permits the grant of equity awards for up to 250,000 shares of common stock. Awards granted under the Incentive Plan may be in the form of incentive stock options, non-qualified stock options, restricted stock, unrestricted stock, performance shares, or performance units. The purposes of the Plan are (i) to align the personal interests of plan participants with those of the shareholders of the Bancorp, (ii) to encourage key individuals to accept or continue employment or service with the Bancorp and its subsidiaries, and (iii) to furnish incentives to such key individuals to improve operations and increase profits by providing such key individuals the opportunity to acquire common stock of the Bancorp or to receive monetary payments based on the value of such common stock. Option awards are generally granted with an exercise price equal to the market price of the Bancorp’s common stock at the date of grant. No expense was charged against income for incentive stock options during 2017 or 2016. The fair value of each incentive stock option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. Expected volatilities are based on historical volatilities of the Company’s common stock. No incentive stock options were granted during 2017 or 2016. The Bancorp uses historical data to estimate option exercise and post-vesting termination behavior. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. A summary of the Bancorp’s stock option activity for 2017 and 2016 follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2016 750 $ 28.50 Granted - - Exercised - - Forfeited or expired (250 ) 28.50 Outstanding at end of year 500 $ 28.50 1.2 $ 5,175 Vested or expected to vest 500 $ 28.50 1.2 $ 5,175 Exercisable at December 31, 2016 500 $ 28.50 1.2 $ 5,175 Outstanding at January 1, 2017 500 $ 28.50 Granted - - Exercised (500 ) $ 28.50 Forfeited or expired - - Outstanding at end of year - $ - - $ - Vested or expected to vest - $ - - $ - Exercisable at December 31, 2017 - $ - - $ - As of December 31, 2017, there were no unrecognized compensation costs related to non-vested incentive stock options granted under the Incentive Plan. Restricted stock awards are generally granted with an award price equal to the market price of the Bancorp’s common stock on the award date. Restricted stock awards have been issued with a five year vesting period. Forfeiture provisions exist for personnel that separate employment before the vesting period expires. Compensation expense related to restricted stock awards is recognized over the vesting period. Total compensation cost that has been charged against income for those plans was approximately $192 thousand and $142 thousand for 2017 and 2016, respectively. A summary of changes in the Bancorp’s non-vested restricted stock for 2017 and 2016 follows: Non-vested Shares Shares Weighted Average Grant Date Fair Value Non-vested at January 1, 2016 19,725 $ 25.15 Granted 8,740 30.10 Vested - - Forefited - - Non-vested at December 31, 2016 28,465 $ 26.67 Non-vested at January 1, 2017 28,465 $ 26.67 Granted 4,575 39.00 Vested (1,625 ) 25.81 Forefited (725 ) 28.62 Non-vested at December 31, 2017 30,690 $ 28.51 As of December 31, 2017, there was approximately $400 thousand of total unrecognized compensation cost related to non-vested restricted shares granted under the Incentive Plan. The cost is expected to be recognized over a weighted-average period of 2.1 years. |
Earnings per Common Share
Earnings per Common Share | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share [Text Block] | Note 13 Earnings per Common Share Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic earnings per common share and diluted earnings per common share computations for 2017 and 2016 is presented below. 2017 2016 Basic earnings per common share: Net income available to common stockholders $ 8,960,766 $ 9,141,725 Weighted-average common shares outstanding 2,863,899 2,858,556 Basic earnings per common share $ 3.13 $ 3.20 Diluted earnings per common share: Net income available to common stockholders $ 8,960,766 $ 9,141,725 Weighted-average common shares outstanding 2,863,899 2,858,556 Weighted-average common and dilutive potential common shares outstanding 2,864,037 2,858,601 Diluted earnings per common share $ 3.13 $ 3.20 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 14 Related Party Transactions The Bancorp had aggregate loans outstanding to directors and executive officers (with individual balances exceeding $120 thousand) of approximately $1.7 million at December 31, 2017 and approximately $3.7 million at December 31, 2016. For the year ended December 31, 2017, the following activity occurred on these loans: (Dollars in thousands) Aggregate balance at the beginning of the year $ 3,691 New loans 426 Repayments (2,450 ) Aggregate balance at the end of the year $ 1,667 Deposits from directors and executive officers totaled approximately $4.4 million and $4.1 million at December 31, 2017 and 2016, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 15 Commitments and Contingencies The Bancorp is a party to financial instruments in the normal course of business to meet the financing needs of its customers. These financial instruments, which include commitments to make loans and standby letters of credit, are not reflected in the accompanying consolidated financial statements. Such financial instruments are recorded when they are funded. The Bancorp’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to originate loans and standby letters of credit is represented by the contractual amount of those instruments. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. The Bancorp uses the same credit policy to make such commitments as it uses for on-balance sheet items. Since commitments to make loans may expire without being used, the amount does not necessarily represent future cash commitments. The Bancorp had outstanding commitments to originate loans as follows: (Dollars in thousands) Fixed Variable Rate Rate Total December 31, 2017: Residential real estate $ 70 $ 7,678 $ 7,748 Home equity 31,008 1,838 32,846 Commercial real estate 1,351 6,866 8,217 Construction and land development 8,074 21,105 29,179 Multifamily 174 322 496 Consumer 16,469 - 16,469 Commercial business 1,103 41,381 42,484 Government - - - Total $ 58,249 $ 79,190 $ 137,439 December 31, 2016: Residential real estate $ 82 $ 7,683 $ 7,765 Home equity 25,896 2,839 28,735 Commercial real estate 1,426 5,973 7,399 Construction and land development 5,838 8,029 13,867 Multifamily 6,168 192 6,360 Consumer 15,332 - 15,332 Commercial business 1,088 41,474 42,562 Government - - - Total $ 55,830 $ 66,190 $ 122,020 The approximately $58.2 million in fixed rate commitments outstanding at December 31, 2017 had interest rates ranging from 2.99% to 10.00%, for a period not to exceed forty-five days. At December 31, 2016, fixed rate commitments outstanding of approximately $55.8 million had interest rates ranging from 2.99% to 10.00%, for a period not to exceed forty-five days. Mortgage interest rate locks with borrowers which are included with real estate commitments, were treated as derivative transactions. Standby letters of credit are conditional commitments issued by the Bancorp to guarantee the performance of a customer to a third party. At December 31, 2017 and 2016, the Bancorp had standby letters of credit totaling approximately $9.9 million and $7.8 million, respectively which are not included in the tables above. The Bancorp evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bancorp upon extension of credit, is based on management’s credit evaluation of the borrower. Collateral obtained may include accounts receivable, inventory, property, land or other assets. |
Fair Values of Financial Instru
Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 16 Fair Values of Financial Instruments The Fair Value Measurements Topic (the “Topic”) establishes a hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Topic describes three levels of inputs that may be used to measure fair value: Level 1: Level 2: Level 3: The fair values of securities available for sale are determined on a recurring basis by obtaining quoted prices on nationally recognized securities exchanges or pricing models utilizing significant observable inputs such as matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities. Different judgments and assumptions used in pricing could result in different estimates of value. In certain cases where market data is not readily available because of lack of market activity or little public disclosure, values may be based on unobservable inputs and classified in Level 3 of the fair value hierarchy. At the end of each reporting period, securities held in the investment portfolio are evaluated on an individual security level for other-than-temporary impairment in accordance with the Investments Debt and Equity Securities Topic. Impairment is other-than-temporary if the decline in the fair value of the security is below its amortized cost and it is probable that all amounts due according to the contractual terms of a debt security will not be received. Significant judgments are required in determining impairment, which include making assumptions regarding the estimated prepayments, loss assumptions and the change in interest rates. The Bancorp considers the following factors when determining other-than-temporary impairment for a security: the length of time and the extent to which the market value has been less than amortized cost; the financial condition and near-term prospects of the issuer; the underlying fundamentals of the relevant market and the outlook for such market for the near future; an assessment of whether the Bancorp (1) has the intent to sell the debt securities or (2) more likely than not will be required to sell the debt securities before their anticipated market recovery. If either of these conditions are met, management will recognize other-than-temporary impairment. If, in management’s judgment, an other-than-temporary impairment exists, the cost basis of the security will be written down for the credit loss, and the unrealized loss will be transferred from accumulated other comprehensive loss as an immediate reduction of current earnings. The Bancorp’s management utilizes a specialist to perform an other-than-temporary impairment analysis for each of its four pooled trust preferred securities. The analysis is performed semiannually on June 30 and December 31 and utilizes analytical models used to project future cash flows for the pooled trust preferred securities based on current assumptions for prepayments, default and deferral rates, and recoveries. The projected cash flows are then tested for impairment consistent with the Investments Other Topic and the Investments Debt and Equity Securities Topic. The other-than-temporary impairment testing compares the present value of the cash flows from quarter to quarter to determine if there is a “favorable” or “adverse” change. Other-than-temporary impairment is recorded if the projected present value of cash flows is lower than the book value of the security. To perform the semi-annual other-than-temporary impairment analysis, management utilizes current reports issued by the trustee, which contain principal and interest tests, waterfall distributions, note valuations, collection detail and credit ratings for each pooled trust preferred security. In addition, a detailed review of the performing collateral was performed. The review of the collateral began with a review of financial information provided by SNL Financial, a comprehensive database, widely used in the industry, which gathers financial data on banks and thrifts from U.S. GAAP financial statements for public companies (annual and quarterly reports on Forms 10-K and 10-Q), as well as regulatory reports for private companies, including consolidated financial statements for bank holding companies (FR Y-9C reports) and parent company-only financial statements for bank holding companies (FR Y-9LP reports) filed with the Federal Reserve and bank call reports filed with the FDIC and OCC. Using the information sources described above, for each bank and thrift examined, the following items were examined: nature of the issuer’s business, years of operating history, corporate structure, loan composition and loan concentrations, deposit mix, asset growth rates, geographic footprint and local economic environment. The issuers’ historical financial performance was reviewed and their financial ratios were compared to appropriate peer groups of regional banks or thrifts with similar asset sizes. The analysis focused on six broad categories: profitability (revenue streams and earnings quality, return on assets and shareholder’s equity, net interest margin and interest rate sensitivity), credit quality (charge-offs and recoveries, non-current loans and total non-performing assets as a percentage of total loans, loan loss reserve coverage and the adequacy of the loan loss provision), operating efficiency (noninterest expense compared to total revenue), capital adequacy (Tier-1, total capital and leverage ratios and equity capital growth), leverage (tangible equity as a percentage of tangible assets, short-term and long-term borrowings and double leverage at the holding company) and liquidity (the nature and availability of funding sources, net non-core funding dependence and quality of deposits). In addition, for publicly traded companies, stock price movements were reviewed and the market price of publicly traded debt instruments was examined. The current other-than-temporary impairment analysis indicated that the Bancorp’s four pooled trust preferred securities had no additional other-than-temporary impairment for the years ending December 31, 2017 and 2016. The table below shows the credit loss roll forward for the Bancorp’s pooled trust preferred securities that have been classified with other-than-temporary impairment: (Dollars in thousands) Collateralized debt obligations other-than-temporary impairment Ending balance, December 31, 2016 $ 271 Additions not previously recognized - Ending balance, December 31, 2017 $ 271 The following table contains information regarding the Bancorp’s pooled trust preferred securities as of December 31, 2017: Cusip 74043CAC1 74042TAJ0 01449TAB9 01450NAC6 Deal name PreTSL XXIV PreTSL XXVII Alesco IX Alesco XVII Class B-1 C-1 A-2A B Lowest credit rating assigned CCC CC BB CCC Number of performing banks 62 33 63 51 Number of performing insurance companies 13 7 10 n/a Number of issuers in default 16 7 2 4 Number of issuers in deferral 2 2 1 1 Defaults & deferrals as a % of performing collateral 26.56 % 20.06 % 2.93 % 8.11 % Subordination: As a % of performing collateral 23.55 % 8.35 % 53.11 % 35.58 % As a % of performing collateral - adjusted for projected future defaults 18.67 % 1.24 % 49.64 % 31.69 % Other-than-temporary impairment model assumptions: Defaults: Year 1 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % Year 2 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % Year 3 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % > 3 Years - issuer average (1 ) (1 ) (1 ) (1 ) Discount rate - 3 month Libor, plus implicit yield spread at purchase 1.48 % 1.23 % 1.27 % 1.44 % Recovery assumptions (2 ) (2 ) (2 ) (2 ) Prepayments 0.00 % 0.00 % 0.00 % 0.00 % Other-than-temporary impairment $ 41 $ 132 $ 36 $ 62 (1) - Default rates > 3 years are evaluated on a issuer by issuer basis and range from 0.25% to 5.00%. (2) - Recovery assumptions are evaluated on a issuer by issuer basis and range from 0% to 15% with a five year lag. In the table above, the Bancorp’s subordination for each trust preferred security is calculated by taking the total performing collateral and subtracting the sum of the total collateral within the Bancorp’s class and the total collateral within all senior classes, and then stating this result as a percentage of the total performing collateral. This measure is an indicator of the level of collateral that can default before potential cash flow disruptions may occur. In addition, management calculates subordination assuming future collateral defaults by utilizing the default/deferral assumptions in the Bancorp’s other-than-temporary impairment analysis. Subordination assuming future default/deferral assumptions is calculated by deducting future defaults from the current performing collateral. At December 31, 2017 and 2016, management reviewed the subordination levels for each security in context of the level of current collateral defaults and deferrals within each security; the potential for additional defaults and deferrals within each security; the length of time that the security has been in “payment in kind” status; and the Bancorp’s class position within each security. Management calculated the other-than-temporary impairment model assumptions based on the specific collateral underlying each individual security. The following assumption methodology was applied consistently to each of the four pooled trust preferred securities: For collateral that has already defaulted, no recovery was assumed; no cash flows were assumed from collateral currently in deferral, with the exception of the recovery assumptions. The default and recovery assumptions were calculated based on the detailed collateral review. The discount rate assumption used in the calculation of the present value of cash flows is based on the discount margin (i.e., credit spread) at the time each security was purchased using the original purchase price. The discount margin is then added to the appropriate 3-month LIBOR forward rate obtained from the forward LIBOR curve. At December 31, 2017 and 2016, three of the trust preferred securities with a cost basis of $3.5 million have been placed in “payment in kind” status. The Bancorp’s securities that are classified as “payment in kind” are a result of not receiving the scheduled quarterly interest payments. For the securities in “payment in kind” status, management anticipates to receive the unpaid contractual interest payments from the issuer, because of the self-correcting cash flow waterfall provisions within the structure of the securities. When a tranche senior to the Bancorp’s position fails the coverage test, the Bancorp’s interest cash flows are paid to the senior tranche and recorded as a reduction of principal. The coverage test represents an over collateralization target by stating the balance of the performing collateral as a percentage of the balance of the Bancorp’s tranche, plus the balance of all senior tranches. The principal reduction in the senior tranche continues until the appropriate coverage test is passed. As a result of the principal reduction in the senior tranche, more cash is available for future payments to the Bancorp’s tranche. Consistent with the Investments Debt and Equity Securities Topic, management considered the failure of the issuer of the security to make scheduled interest payments in determining whether a credit loss existed. Management will not capitalize the “payment in kind” interest payments to the book value of the securities and will keep these securities in non-accrual status until the quarterly interest payments resume. Assets and Liabilities Measured at Fair Values on a Recurring Basis There were no transfers to or from Levels 1 and 2 during the years ended December 31, 2017 and 2016. Changes in Level 3 assets are solely the result of changes in estimated fair values of securities that have been classified as level 3 during all of 2017 and 2016. Assets measured at fair value on a recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available-for-sale debt securities: Money market fund $ 476 $ 476 $ - $ - U.S. government sponsored entities 3,890 - 3,890 - Collateralized mortgage obligations and residential mortgage-backed securities 132,938 - 132,938 - Municipal securities 103,747 - 103,747 - Collateralized debt obligations 3,439 - - 3,439 Total securities available-for-sale $ 244,490 $ 476 $ 240,575 $ 3,439 (Dollars in thousands) Fair Value Measurements at December 31, 2016 Using (Dollars in thousands) Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available-for-sale debt securities: Money market fund $ 222 $ 222 $ - $ - U.S. government sponsored entities 16,274 - 16,274 - Collateralized mortgage obligations and residential mortgage-backed securities 117,975 - 117,975 - Municipal securities 96,745 - 96,745 - Collateralized debt obligations 2,409 - - 2,409 Total securities available-for-sale $ 233,625 $ 222 $ 230,994 $ 2,409 A reconciliation of available-for-sale securities, which require significant adjustment based on unobservable data, is presented below: (Dollars in thousands) Estimated Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for- sale securities Beginning balance, January 1, 2016 $ 2,734 Principal payments (107 ) Total unrealized losses, included in other comprehensive income (218 ) Transfers in and/or (out) of Level 3 - Ending balance, December 31, 2016 $ 2,409 Beginning balance, January 1, 2017 $ 2,409 Principal payments (154 ) Total unrealized gains, included in other comprehensive income 1,184 Transfers in and/or (out) of Level 3 - Ending balance, December 31, 2017 $ 3,439 Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 1,818 $ - $ - $ 1,818 Foreclosed real estate 1,699 - - 1,699 (Dollars in thousands) Fair Value Measurements at December 31, 2016 Using (Dollars in thousands) Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 2,282 $ - $ - $ 2,282 Foreclosed real estate 2,665 - - 2,665 The fair value of impaired loans with specific allocations of the allowance for loan losses or loans for which charge-offs have been taken is generally based on the present value of future cash flows or, for collateral dependent loans, based on recent real estate appraisals. Appraisals may utilize a single valuation approach or a combination of approaches, including comparable sales and the income approach. The recorded investment of impaired loans was approximately $2.5 million and the related specific reserves totaled approximately $704 thousand, resulting in a fair value of impaired loans totaling approximately $1.8 million, at December 31, 2017. The recorded investment of impaired loans was approximately $3.5 million and the related specific reserves totaled approximately $1.2 million, resulting in a fair value of impaired loans totaling approximately $2.3 million, at December 31, 2016. Fair value is determined, where possible, using market prices derived from an appraisal or evaluation, which are considered to be Level 2 inputs. However, certain assumptions and unobservable inputs are often used by the appraiser, therefore, qualifying the assets as Level 3 in the fair value hierarchy. The fair value of foreclosed real estate is similarly determined by using the results of recent real estate appraisals. The numerical range of unobservable inputs for these valuation assumptions is not meaningful to this presentation. The following table shows carrying values and related estimated fair values of financial instruments as of the dates indicated. Estimated fair values are further categorized by the inputs used to measure fair value. Items that are not financial instruments are not included. December 31, 2017 Estimated Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Carrying Value Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 11,025 $ 11,025 $ 11,025 $ - $ - Certificates of deposit in other financial institutions 1,676 1,640 - 1,640 - Securities available-for-sale 244,490 244,490 476 240,575 3,439 Loans held-for-sale 1,592 1,625 1,625 - - Loans receivable, net 612,729 608,506 - - 608,506 Federal Home Loan Bank stock 3,000 3,000 - 3,000 - Accrued interest receivable 3,262 3,262 - 3,262 - Financial liabilities: Non-interest bearing deposits 120,556 120,556 120,556 - - Interest bearing deposits 672,448 670,967 488,528 182,439 - Repurchase agreements 11,300 11,292 9,545 1,747 - Borrowed funds 20,881 20,818 600 20,218 - Accrued interest payable 42 42 - 42 - December 31, 2016 Estimated Fair Value Measurements at December 31, 2016 Using (Dollars in thousands) Carrying Value Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 45,109 $ 45,109 $ 45,109 $ - $ - Certificates of deposit in other financial institutions 885 866 - 866 - Securities available-for-sale 233,625 233,625 222 230,994 2,409 Loans held-for-sale 2,193 2,242 2,242 - - Loans receivable, net 575,952 568,855 - - 568,855 Federal Home Loan Bank stock 3,000 3,000 - 3,000 - Accrued interest receivable 3,086 3,086 - 3,086 - Financial liabilities: Non-interest bearing deposits 111,800 111,800 111,800 - - Interest bearing deposits 667,971 667,227 482,307 184,920 - Repurchase agreements 13,998 13,995 11,439 2,556 - Borrowed funds 25,828 25,840 700 25,140 - Accrued interest payable 41 41 - 41 - The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the periods ended December 31, 2017 and 2016: Cash and cash equivalent carrying amounts approximate fair value. Certificates of deposits in other financial institutions carrying amounts approximate fair value (Level 2). The fair values of securities available-for-sale are obtained from broker pricing (Level 2), with the exception of collateralized debt obligations, which are valued by a third-party specialist (Level 3). Loans held-for-sale comprise residential mortgages and are priced based on values established by the secondary mortgage markets (Level 1). The estimated fair value for net loans receivable is based on estimates of the rate the Bancorp would charge for similar such loans, applied for the time period until estimated repayment, in addition to appraisals which may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach (Level 3). Federal Home Loan Bank stock is estimated at book value due to restrictions that limit the sale or transfer of the security. Fair values of accrued interest receivable and payable approximate book value, as the carrying values are determined using the observable interest rate, balance, and last payment date. Non-interest and interest bearing deposits, which include checking, savings, and money market deposits, are estimated to have fair values based on the amount payable as of the reporting date (Level 1). The fair value of fixed-maturity certificates of deposit (included in interest bearing deposits) are based on estimates of the rate the Bancorp would pay on similar deposits, applied for the time period until maturity (Level 2). Estimated fair values for short-term repurchase agreements, which represent sweeps from demand deposits to accounts secured by pledged securities, are estimated based on the amount payable as of the reporting date (Level 1). Longer-term repurchase agreements, with contractual maturity dates of three months or more, are based on estimates of the rate the Bancorp would pay on similar deposits, applied for the time period until maturity (Level 2). Short-term borrowings are generally only held overnight, therefore, their carrying amount is a reasonable estimate of fair value (Level 1). The fair value of FHLB Advances are estimated by discounting the future cash flows using quoted rates from the FHLB for similar advances with similar maturities (Level 2). The estimated fair value of other financial instruments, and off-balance sheet loan commitments, approximate cost and are not considered significant to this presentation. |
Parent Company Only Statements
Parent Company Only Statements | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 17 Parent Company Only Statements (Dollars in thousands) NorthWest Indiana Bancorp Condensed Balance Sheets December 31, December 31, 2017 2016 Assets Cash on deposit with Peoples Bank $ 125 $ 57 Investment in Peoples Bank 89,915 82,875 Investment in NWIN Risk Management, Inc. 1,674 775 Dividends receivable from Peoples Bank 831 800 Other assets 899 775 Total assets $ 93,444 $ 85,282 Liabilities and stockholders’ equity Dividends payable $ 831 $ 800 Other liabilities 553 374 Total liabilities 1,384 1,174 Common stock 361 361 Additional paid in capital 4,506 4,300 Accumulated other comprehensive income 684 (1,506 ) Retained earnings 86,509 80,953 Total stockholders’ equity 92,060 84,108 Total liabilities and stockholders’ equity $ 93,444 $ 85,282 (Dollars in thousands) NorthWest Indiana Bancorp Condensed Statements of Income Year Ended December 31, 2017 2016 Dividends from Peoples Bank $ 3,295 $ 3,520 Operating expenses 262 194 Income before income taxes and equity in undistributed income of Peoples Bank 3,033 3,326 Income tax benefit (69 ) (54 ) Income before equity in undistributed income of Peoples Bank 3,102 3,380 Equity in undistributed income of Peoples Bank 4,961 5,237 income of NWIN Risk Management, Inc. 898 525 Net income $ 8,961 $ 9,142 (Dollars in thousands) NorthWest Indiana Bancorp Condensed Statements of Cash Flows Year Ended December 31, 2017 2016 Cash flows from operating activities: Net income $ 8,961 $ 9,142 Adjustments to reconcile net income to net cash provided by operating activities Equity in undistributed net income of: Peoples Bank (4,961 ) (5,237 ) NWIN Risk Management, Inc. (898 ) (525 ) Stock based compensation expense 192 142 Change in other assets (155 ) (654 ) Change in other liabilities 179 (159 ) Total adjustments (5,643 ) (6,433 ) Net cash - operating activities 3,318 2,709 Cash flows from investing activities: Investment in NWIN Risk Management, Inc. - (250 ) Net cash - investing activities - (250 ) Cash flows from financing activities: Dividends paid (3,264 ) (3,143 ) Proceeds from issuance of common stock 14 - Net cash - financing activities (3,250 ) (3,143 ) Net change in cash 68 (684 ) Cash at beginning of year 57 741 Cash at end of year $ 125 $ 57 |
Summary of Significant Accoun26
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Flow Reporting |
Certificates Of Deposits In Other Financial Institutions [Policy Text Block] | Certificates of deposits in other financial institutions |
Marketable Securities, Policy [Policy Text Block] | Securities The Bancorp considers the following factors when determining an other-than-temporary impairment for a security: the length of time and the extent to which the market value has been less than amortized cost; the financial condition and near-term prospects of the issuer; the underlying fundamentals of the relevant market and the outlook for such market for the near future; and an assessment of whether the Bancorp has (1) the intent to sell the debt security or (2) it is more likely than not that the Bancorp will be required to sell the debt security before its anticipated market recovery. If either of these conditions are met, management will recognize other-than-temporary impairment. If, in management’s judgment, an other-than-temporary impairment exists, the cost basis of the security will be written down for the credit loss, and the unrealized credit loss will be transferred from accumulated other comprehensive loss as an immediate reduction of current earnings. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held-for-Sale Mortgage loans held-for-sale can be sold with servicing rights retained or released. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing rights. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. |
Loans And Loan Income [Policy Text Block] | Loans and Loan Income The accrual of interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer loans are typically charged-off no later than when they reach 120 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on non-accrual or charged-off status at an earlier date if collection of principal or interest is considered doubtful. Generally, interest accrued but not received for loans placed on non-accrual status is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses A loan is considered impaired when, based on current information and events, it is probable that the Bancorp will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case by case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Bancorp does not separately identify individual consumer and residential loans for impairment disclosures. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Troubled Debt Restructures Some of the factors considered by management when determining whether a borrower is experiencing financial difficulties are: (1) is the borrower currently in default on any of its debts, (2) has the borrower declared or is the borrower in the process of declaring bankruptcy, and (3) absent the current modification, the borrower would likely default. |
Federal Home Loan Bank Stock [Policy Text Block] | Federal Home Loan Bank Stock |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment |
Real Estate, Policy [Policy Text Block] | Foreclosed Real Estate |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-term Assets |
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangibles |
Repurchase Agreements, Valuation, Policy [Policy Text Block] | Repurchase Agreements |
Income Tax, Policy [Policy Text Block] | Income Taxes At December 31, 2017 and 2016, the Bancorp evaluated tax positions taken for filing with the Internal Revenue Service and all state jurisdictions in which it operates. The Bancorp believes that income tax filing positions will be sustained under examination and does not anticipate any adjustments that would result in a material adverse effect on the Bancorp's financial condition, results of operations, or cash flows. Accordingly, the Bancorp has not recorded any reserves or related accruals for interest and penalties for uncertain tax positions at December 31, 2017 and 2016. |
Loan Commitments, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income |
Malpractice Loss Contingency, Policy [Policy Text Block] | Loss Contingencies |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restrictions on Cash |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments |
Operating Segments [Policy Text Block] | Operating Segments |
Reclassification, Policy [Policy Text Block] | Reclassification |
Trust Assets [Policy Text Block] | Trust Assets |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Pronouncements Revenue from Contracts with Customers (Topic 606) In January 2016, FASB issued Accounting Standards Update (ASU) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, FASB issued ASU No. 2016-02, Lease In March 2016, FASB issued ASU No. 2016-09: CompensationStock Compensation (Topic 718)Improvements to Employee Share-Based Payment Accounting In June 2016, FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In March 2017, the FASB issued ASU 2017-08, ReceivablesNonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities In February 2018, the FASB issued ASU No. 2018-02, Income Statement Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair December 31, 2017 Basis Gains Losses Value Money market fund $ 476 $ - $ - $ 476 U.S. government sponsored entities 3,996 - (106) 3,890 Collateralized mortgage obligations and residential mortgage-backed securities 134,224 170 (1,456) 132,938 Municipal securities 100,088 3,709 (50) 103,747 Collateralized debt obligations 4,835 - (1,396) 3,439 Total securities available-for-sale $ 243,619 $ 3,879 $ (3,008) $ 244,490 (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair December 31, 2016 Basis Gains Losses Value Money market fund $ 222 $ - $ - $ 222 U.S. government sponsored entities 16,643 - (369) 16,274 Collateralized mortgage obligations and residential mortgage-backed securities 118,807 441 (1,273) 117,975 Municipal securities 95,242 2,146 (643) 96,745 Collateralized debt obligations 4,989 - (2,580) 2,409 Total securities available-for-sale $ 235,903 $ 2,587 $ (4,865) $ 233,625 |
Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block] | The estimated fair value of available-for-sale securities and carrying amount, if different, at December 31, 2017 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Tax-equivalent yields were calculated using the 2017 tax rate. (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent December 31, 2017 Value Yield (%) Due in one year or less $ 757 7.46 Due from one to five years 6,150 4.79 Due from five to ten years 28,531 5.21 Due over ten years 76,114 4.73 Collateralized mortgage obligations and residential mortgage-backed securities 132,938 2.57 Total $ 244,490 3.62 |
Schedule of Realized Gain (Loss) [Table Text Block] | Sales of available-for-sale securities were as follows: (Dollars in thousands) December 31, December 31, 2017 2016 Proceeds $ 56,347 $ 44,258 Gross gains 972 926 Gross losses (112) (100) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows: (Dollars in thousands) Unrealized Ending balance, December 31, 2016 $ (1,506) Current period change 2,079 Reclassification related to tax effect of unrealized gains 111 Ending balance, December 31, 2017 $ 684 |
Unrealized Gain (Loss) on Investments [Table Text Block] | Securities with unrealized losses at December 31, 2017 and 2016 not recognized in income are as follows: (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2017 Value Losses Value Losses Value Losses U.S. government sponsored entities $ - $ - $ 3,890 $ (106) $ 3,890 $ (106) Collateralized mortgage obligations and residential mortgage-backed securities 66,917 (511) 37,003 (945) 103,920 (1,456) Municipal securities 1,790 (3) 1,815 (47) 3,605 (50) Collateralized debt obligations - - 3,439 (1,396) 3,439 (1,396) Total temporarily impaired $ 68,707 $ (514) $ 46,147 $ (2,494) $ 114,854 $ (3,008) Number of securities 40 37 77 (Dollars in thousands) Less than 12 months 12 months or longer Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2016 Value Losses Value Losses Value Losses U.S. government sponsored entities $ 16,274 $ (369) $ - $ - $ 16,274 $ (369) Collateralized mortgage obligations and residential mortgage-backed securities 75,931 (1,183) 2,287 (90) 78,218 (1,273) Municipal securities 20,775 (643) - - 20,775 (643) Collateralized debt obligations - - 2,409 (2,580) 2,409 (2,580) Total temporarily impaired $ 112,980 $ (2,195) $ 4,696 $ (2,670) $ 117,676 $ (4,865) Number of securities 97 6 103 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Year end loans are summarized below: (Dollars in thousands) December 31, 2017 December 31, 2016 Loans secured by real estate: Residential real estate $ 172,780 $ 173,365 Home equity 36,718 32,614 Commercial real estate 211,090 195,438 Construction and land development 50,746 38,937 Multifamily 43,369 36,086 Total loans secured by real estate 514,703 476,440 Consumer 460 522 Commercial business 77,122 77,513 Government 28,785 29,529 Subtotal 621,070 584,004 Less: Net deferred loan origination fees (130) (162) Undisbursed loan funds (729) (192) Loans receivable $ 620,211 $ 583,650 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the twelve months ended December 31, 2017: Allowance for loan losses: Residential real estate $ 2,111 $ (959) $ 3 $ 413 $ 1,568 Home equity 299 (60) - (73) 166 Commercial real estate 3,113 - - 12 3,125 Construction and land development 617 - - 1 618 Multifamily 572 - - 50 622 Consumer 34 (71) 18 50 31 Commercial business 896 (386) 39 749 1,298 Government 56 - - (2) 54 Total $ 7,698 $ (1,476) $ 60 $ 1,200 $ 7,482 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the twelve months ended December 31, 2016: Allowance for loan losses: Residential real estate $ 1,447 $ (529) $ 2 $ 1,191 $ 2,111 Home equity 263 - - 36 299 Commercial real estate 2,986 - - 127 3,113 Construction and land development 692 - - (75) 617 Multifamily 758 - - (186) 572 Consumer 38 (33) 9 20 34 Commercial business 699 - 28 169 896 Government 70 - - (14) 56 Total $ 6,953 $ (562) $ 39 $ 1,268 $ 7,698 |
Individually Impaired Loans Receivables [Table Text Block] | Ending Balances Loans Purchased Loans Individually Collectively receivable credit impaired receivable (Dollars in thousands) evaluated for evaluated for Individually individually Collectively impairment impairment Loan evaluated for evaluated for evaluated for reserves reserves receivables impairment impairment impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2017: Residential real estate $ 21 $ 1,547 $ 172,141 $ 462 $ 690 $ 170,989 Home equity - 166 36,769 - - 36,769 Commercial real estate 144 2,981 211,090 512 - 210,578 Construction and land development - 618 50,746 134 - 50,612 Multifamily - 622 43,368 - - 43,368 Commercial business 539 759 76,851 724 - 76,127 Consumer - 31 461 - - 461 Government - 54 28,785 - - 28,785 Total $ 704 $ 6,778 $ 620,211 $ 1,832 $ 690 $ 617,689 The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at December 31, 2016: Residential real estate $ 879 $ 1,232 $ 173,262 $ 1,419 $ 956 $ 170,886 Home equity - 299 32,575 - - 32,575 Commercial real estate 3 3,110 195,438 322 - 195,116 Construction and land development - 617 38,937 134 - 38,804 Multifamily - 572 36,086 - - 36,086 Commercial business 354 542 77,299 687 - 76,612 Consumer - 34 524 - - 524 Government - 56 29,529 - - 29,529 Total $ 1,236 $ 6,462 $ 583,650 $ 2,562 $ 956 $ 580,132 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Exposure - Credit Risk Portfolio By Creditworthiness Category December 31, 2017 (Dollars in thousands) 2 3 4 5 6 7 8 Above average Marginally Special Loan Segment Moderate acceptable Acceptable acceptable Pass/monitor mention Substandard Residential real estate $ 887 $ 12,317 $ 92,241 $ 8,759 $ 50,075 $ 4,130 $ 3,732 Home equity - 1,065 34,871 - 250 233 350 Commercial real estate - 2,372 79,847 81,547 40,054 6,758 512 Construction and land development - - 20,719 19,583 10,310 - 134 Multifamily - - 20,159 20,965 2,076 168 - Commercial business 7,169 17,202 16,784 21,087 13,041 394 1,174 Consumer - 131 330 - - - - Government - 2,318 20,202 6,265 - - - Total $ 8,056 $ 35,405 $ 285,153 $ 158,206 $ 115,806 $ 11,683 $ 5,902 December 31, 2016 2 3 4 5 6 7 8 Above average Marginally Special Loan Segment Moderate acceptable Acceptable acceptable Pass/monitor mention Substandard Residential real estate $ - $ 6,069 $ 94,394 $ 7,085 $ 57,644 $ 4,015 $ 4,056 Home equity 83 1,172 30,459 - 250 236 376 Commercial real estate 248 2,708 93,293 64,950 28,306 5,611 323 Construction and land development - 439 11,355 18,913 8,097 - 134 Multifamily - - 17,123 16,836 1,939 188 - Commercial business 6,315 15,044 24,754 18,786 10,653 533 1,214 Consumer 90 4 430 - - - - Government - 955 25,474 3,100 - - - Total $ 6,736 $ 26,391 $ 297,282 $ 129,669 $ 106,888 $ 10,582 $ 6,102 |
Impaired Financing Receivables [Table Text Block] | The Bancorp's individually evaluated impaired loans are summarized below: For the twelve months ended As of December 31, 2017 December 31, 2017 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded: Residential real estate $ 1,072 $ 3,351 $ - $ 1,101 $ 70 Commercial real estate 253 253 - 339 6 Construction and land development 134 134 - 134 - Commercial business 184 184 - 198 10 With an allowance recorded: Residential real estate 80 270 21 256 1 Commercial real estate 259 259 144 163 - Construction and land development - - - - - Commercial business 540 540 539 492 - Total: Residential real estate $ 1,152 $ 3,621 $ 21 $ 1,357 $ 71 Commercial real estate $ 512 $ 512 $ 144 $ 502 $ 6 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 724 $ 724 $ 539 $ 690 $ 10 For the twelve months ended As of December 31, 2016 December 31, 2016 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded: Residential real estate $ 1,309 $ 3,293 $ - $ 2,582 $ 120 Commercial real estate 305 305 - 1,138 6 Construction and land development 134 134 - 134 - Commercial business 212 212 - 168 4 With an allowance recorded: Residential real estate 1,066 1,066 879 348 6 Commercial real estate 18 18 3 89 - Construction & land development - - - - - Commercial business 475 475 354 324 1 Total: Residential real estate $ 2,375 $ 4,359 $ 879 $ 2,930 $ 126 Commercial real estate $ 323 $ 323 $ 3 $ 1,227 $ 6 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 687 $ 687 $ 354 $ 492 $ 5 |
Past Due Financing Receivables [Table Text Block] | The Bancorp's age analysis of past due loans is summarized below: (Dollars In thousands) 30-59 Days Past 60-89 Days Past Greater Than 90 Total Past Due Current Total Loans Recorded December 31, 2017 Residential real estate $ 4,921 $ 1,751 $ 3,092 $ 9,764 $ 162,377 $ 172,141 $ 225 Home equity 295 18 234 547 36,222 36,769 2 Commercial real estate 951 96 332 1,379 209,711 211,090 - Construction and land development - - 133 133 50,613 50,746 - Multifamily 319 - - 319 43,049 43,368 - Commercial business 285 162 539 986 75,865 76,851 - Consumer 1 - - 1 460 461 - Government - - - - 28,785 28,785 - Total $ 6,772 $ 2,027 $ 4,330 $ 13,129 $ 607,082 $ 620,211 $ 227 December 31, 2016 Residential real estate $ 3,640 $ 1,702 $ 3,804 $ 9,146 $ 164,115 $ 173,262 $ 436 Home equity 334 73 220 626 31,949 32,575 64 Commercial real estate 208 189 323 720 194,718 195,438 - Construction and land development - - 134 134 38,804 38,937 - Multifamily 188 - - 188 35,898 36,086 - Commercial business 171 217 465 853 76,445 77,299 - Consumer - - - - 524 524 - Government - - - - 29,529 29,529 - Total $ 4,541 $ 2,181 $ 4,946 $ 11,668 $ 571,982 $ 583,650 $ 500 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) December 31, December 31, 2017 2016 Residential real estate $ 3,509 $ 4,146 Home equity 350 376 Commercial real estate 332 323 Construction and land development 133 134 Multifamily - - Commercial business 672 628 Consumer - - Government - - Total $ 4,996 $ 5,605 |
Premises and Equipment, Net (Ta
Premises and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | At year end, premises and equipment are summarized as follows: (Dollars in thousands) 2017 2016 Cost: Land $ 5,216 $ 5,216 Buildings and improvements 23,672 22,854 Furniture and equipment 14,908 14,267 Total cost 43,796 42,337 Less accumulated depreciation (24,237) (23,050) Premises and equipment, net $ 19,559 $ 19,287 |
Foreclosed Real Estate (Tables)
Foreclosed Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | |
Schedule of Real Estate Properties [Table Text Block] | At year end, foreclosed real estate is summarized below: (Dollars in thousands) 2017 2016 Residential real estate, including home equity $ 914 $ 1,810 Commercial real estate, construction & land development and other dwellings 785 855 Total $ 1,699 $ 2,665 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | At year-end, components of income tax expense/(benefit) consist of the following: (Dollars in thousands) 2017 2016 Federal: Current $ 1,898 $ 2,343 Deferred 275 (129) Revaluation of net deferred tax asset 517 - State: Current 77 80 Deferred, net of valuation allowance 102 254 Income tax expense $ 2,869 $ 2,548 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Effective tax rates differ from the federal statutory rate of 34% applied to income before income taxes due to the following: (Dollars in thousands) 2017 2016 Federal statutory rate 34 % 34 % Tax expense at statutory rate $ 4,022 $ 3,975 State tax, net of federal effect 118 220 Tax exempt income (1,302) (1,318) Bank owned life insurance (156) (160) Captive insurance (307) (179) Revaluation of net deferred tax asset 517 - Other (23) 10 Total income tax expense $ 2,869 $ 2,548 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | At December 31, the components of the net deferred tax asset recorded in the consolidated balance sheets are as follows: (Dollars in thousands) 2017 2016 Deferred tax assets: Bad debts $ 1,885 $ 2,872 Deferred loan fees 32 60 Deferred compensation 332 503 Unrealized depreciation on securities available-for-sale, net - 771 Net operating loss, state 290 294 Tax credits 99 98 Nonaccrual loan interest income 71 109 Share based compensation 133 126 REO writedowns 25 - Unqualified deferred compensation plan 51 74 Other-than-temporary impairment 57 92 Accrued vacation 59 129 Impairment on land 48 71 Other 15 29 Total deferred tax assets 3,097 5,228 Deferred tax liabilities: Depreciation (641) (850) Prepaids (237) (346) Mortgage servicing rights (26) (51) Deferred stock dividends (65) (97) Unrealized appreciation on securities available-for-sale, net (188) - Purchase accounting (100) (88) Other (209) (181) Total deferred tax liabilities (1,466) (1,613) Valuation allowance (80) (98) Net deferred tax asset $ 1,551 $ 3,517 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Deposits [Abstract] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | At December 31, 2017, scheduled maturities of certificates of deposit were as follows: (Dollars in thousands) 2018 $ 133,265 2019 39,065 2020 9,444 2021 2,051 2022 95 Total $ 183,920 |
Borrowed Funds (Tables)
Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Schedule Of Federal Home Loan Bank Advances Borrowed Funds [Table Text Block] | At year end, borrowed funds are summarized below: (Dollars in thousands) 2017 2016 Fixed rate advances from the FHLB $ 17,100 $ 25,100 Line of credit at FHLB 3,181 28 Other 600 700 Total $ 20,881 $ 25,828 |
Schedule Of Federal Home Loan Bank Advances Rolling Maturity [Table Text Block] | At December 31, 2017, scheduled maturities of borrowed funds were as follows: (Dollars in thousands) 2018 $ 9,881 2019 9,000 2020 2,000 Total $ 20,881 |
Schedule Of Federal Home Loan Bank Advances Activity For Year [Table Text Block] | Repurchase agreements generally mature within one year and are secured by U.S. government and U.S. agency securities, under the Bancorp’s control. At December 31, information concerning these retail repurchase agreements is summarized below: (Dollars in thousands) 2017 2016 Ending balance $ 11,300 $ 13,998 Average balance during the year 13,734 17,755 Maximum month-end balance during the year 17,720 23,308 Securities underlying the agreements at year end: Carrying value 18,053 23,571 Fair value 18,053 23,571 Average interest rate during the year 0.82 % 0.55 % Average interest rate at year end 0.91 % 0.56 % |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | At December 31, advances from the Federal Home Loan Bank were as follows: (Dollars in thousands) 2017 2016 Fixed rate advances, maturing January 2018 through June 2020 at rates from 0.97% to 2.11%; average rate: 2017 1.67%; 2016 1.40% $ 17,100 $ 25,100 |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Parent Company [Member] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The following table shows that, at December 31, 2017, and December 31, 2016, the Bancorp’s capital exceeded all applicable regulatory capital requirements. The dollar amounts are in millions. (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 88.4 12.9 % $ 30.9 4.5 % N/A N/A Tier 1 capital to risk-weighted assets $ 88.4 12.9 % $ 41.2 6.0 % N/A N/A Total capital to risk-weighted assets $ 96.0 14.0 % $ 55.0 8.0 % N/A N/A Tier 1 capital to adjusted average assets $ 88.4 9.6 % $ 36.8 4.0 % N/A N/A (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 82.4 13.1 % $ 28.3 4.5 % N/A N/A Tier 1 capital to risk-weighted assets $ 82.4 13.1 % $ 37.8 6.0 % N/A N/A Total capital to risk-weighted assets $ 90.1 14.3 % $ 50.4 8.0 % N/A N/A Tier 1 capital to adjusted average assets $ 82.4 9.2 % $ 36.0 4.0 % N/A N/A |
Peoples Bank SB [Member] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | In addition, the following table shows that, at December 31, 2017, and December 31, 2016, the Bank’s capital exceeded all applicable regulatory capital requirements. The dollar amounts are in millions. (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 86.3 12.6 % $ 30.9 4.5 % $ 44.6 6.5 % Tier 1 capital to risk-weighted assets $ 86.3 12.6 % $ 41.2 6.0 % $ 54.9 8.0 % Total capital to risk-weighted assets $ 93.8 13.7 % $ 54.9 8.0 % $ 68.7 10.0 % Tier 1 capital to adjusted average assets $ 86.3 9.4 % $ 36.7 4.0 % $ 45.8 5.0 % (Dollars in millions) Minimum Required To Be Minimum Required For Well Capitalized Under Prompt Actual Capital Adequacy Purposes Corrective Action Regulations At December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk-weighted assets $ 81.2 12.9 % $ 28.4 4.5 % $ 41.0 6.5 % Tier 1 capital to risk-weighted assets $ 81.2 12.9 % $ 37.9 6.0 % $ 50.5 8.0 % Total capital to risk-weighted assets $ 88.9 14.1 % $ 50.5 8.0 % $ 63.1 10.0 % Tier 1 capital to adjusted average assets $ 81.2 9.0 % $ 35.9 4.0 % $ 44.9 5.0 % |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | A summary of the Bancorp’s stock option activity for 2017 and 2016 follows: Shares Weighted Weighted Aggregate Outstanding at January 1, 2016 750 $ 28.50 Granted - - Exercised - - Forfeited or expired (250) 28.50 Outstanding at end of year 500 $ 28.50 1.2 $ 5,175 Vested or expected to vest 500 $ 28.50 1.2 $ 5,175 Exercisable at December 31, 2016 500 $ 28.50 1.2 $ 5,175 Outstanding at January 1, 2017 500 $ 28.50 Granted - - Exercised (500) $ 28.50 Forfeited or expired - - Outstanding at end of year - $ - - $ - Vested or expected to vest - $ - - $ - Exercisable at December 31, 2017 - $ - - $ - |
Nonvested Restricted Stock Shares Activity [Table Text Block] | A summary of changes in the Bancorp’s non-vested restricted stock for 2017 and 2016 follows: Non-vested Shares Shares Weighted Non-vested at January 1, 2016 19,725 $ 25.15 Granted 8,740 30.10 Vested - - Forefited - - Non-vested at December 31, 2016 28,465 $ 26.67 Non-vested at January 1, 2017 28,465 $ 26.67 Granted 4,575 39.00 Vested (1,625) 25.81 Forefited (725) 28.62 Non-vested at December 31, 2017 30,690 $ 28.51 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | A reconciliation of the numerators and denominators of the basic earnings per common share and diluted earnings per common share computations for 2017 and 2016 is presented below. 2017 2016 Basic earnings per common share: Net income available to common stockholders $ 8,960,766 $ 9,141,725 Weighted-average common shares outstanding 2,863,899 2,858,556 Basic earnings per common share $ 3.13 $ 3.20 Diluted earnings per common share: Net income available to common stockholders $ 8,960,766 $ 9,141,725 Weighted-average common shares outstanding 2,863,899 2,858,556 Weighted-average common and dilutive potential common shares outstanding 2,864,037 2,858,601 Diluted earnings per common share $ 3.13 $ 3.20 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | For the year ended December 31, 2017, the following activity occurred on these loans: (Dollars in thousands) Aggregate balance at the beginning of the year $ 3,691 New loans 426 Repayments (2,450) Aggregate balance at the end of the year $ 1,667 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Outstanding Commitments To Originate Loans [Table Text Block] | The Bancorp had outstanding commitments to originate loans as follows: (Dollars in thousands) Fixed Variable Rate Rate Total December 31, 2017: Residential real estate $ 70 $ 7,678 $ 7,748 Home equity 31,008 1,838 32,846 Commercial real estate 1,351 6,866 8,217 Construction and land development 8,074 21,105 29,179 Multifamily 174 322 496 Consumer 16,469 - 16,469 Commercial business 1,103 41,381 42,484 Government - - - Total $ 58,249 $ 79,190 $ 137,439 December 31, 2016: Residential real estate $ 82 $ 7,683 $ 7,765 Home equity 25,896 2,839 28,735 Commercial real estate 1,426 5,973 7,399 Construction and land development 5,838 8,029 13,867 Multifamily 6,168 192 6,360 Consumer 15,332 - 15,332 Commercial business 1,088 41,474 42,562 Government - - - Total $ 55,830 $ 66,190 $ 122,020 |
Fair Values of Financial Inst39
Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | The table below shows the credit loss roll forward for the Bancorp’s pooled trust preferred securities that have been classified with other-than-temporary impairment: (Dollars in thousands) Collateralized debt obligations other-than-temporary impairment Ending balance, December 31, 2016 $ 271 Additions not previously recognized - Ending balance, December 31, 2017 $ 271 |
Schedule of Fair Value, Pooled Trust Preferred Securities [Table Text Block] | The following table contains information regarding the Bancorp’s pooled trust preferred securities as of December 31, 2017: Cusip 74043CAC1 74042TAJ0 01449TAB9 01450NAC6 Deal name PreTSL XXIV PreTSL XXVII Alesco IX Alesco XVII Class B-1 C-1 A-2A B Lowest credit rating assigned CCC CC BB CCC Number of performing banks 62 33 63 51 Number of performing insurance companies 13 7 10 n/a Number of issuers in default 16 7 2 4 Number of issuers in deferral 2 2 1 1 Defaults & deferrals as a % of performing collateral 26.56 % 20.06 % 2.93 % 8.11 % Subordination: As a % of performing collateral 23.55 % 8.35 % 53.11 % 35.58 % As a % of performing collateral - adjusted for projected future defaults 18.67 % 1.24 % 49.64 % 31.69 % Other-than-temporary impairment model assumptions: Defaults: Year 1 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % Year 2 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % Year 3 - issuer average 2.00 % 2.40 % 2.30 % 1.90 % > 3 Years - issuer average (1) (1) (1) (1) Discount rate - 3 month Libor, plus implicit yield spread at purchase 1.48 % 1.23 % 1.27 % 1.44 % Recovery assumptions (2) (2) (2) (2) Prepayments 0.00 % 0.00 % 0.00 % 0.00 % Other-than-temporary impairment $ 41 $ 132 $ 36 $ 62 (1) - Default rates > 3 years are evaluated on a issuer by issuer basis and range from 0.25 5.00 (2) - Recovery assumptions are evaluated on a issuer by issuer basis and range from 0 15 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (Dollars in thousands) Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Available-for-sale debt securities: Money market fund $ 476 $ 476 $ - $ - U.S. government sponsored entities 3,890 - 3,890 - Collateralized mortgage obligations and residential mortgage-backed securities 132,938 - 132,938 - Municipal securities 103,747 - 103,747 - Collateralized debt obligations 3,439 - - 3,439 Total securities available-for-sale $ 244,490 $ 476 $ 240,575 $ 3,439 (Dollars in thousands) Fair Value Measurements at December 31, 2016 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Available-for-sale debt securities: Money market fund $ 222 $ 222 $ - $ - U.S. government sponsored entities 16,274 - 16,274 - Collateralized mortgage obligations and residential mortgage-backed securities 117,975 - 117,975 - Municipal securities 96,745 - 96,745 - Collateralized debt obligations 2,409 - - 2,409 Total securities available-for-sale $ 233,625 $ 222 $ 230,994 $ 2,409 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | A reconciliation of available-for-sale securities, which require significant adjustment based on unobservable data, is presented below: (Dollars in thousands) Estimated Fair Value Available-for- Beginning balance, January 1, 2016 $ 2,734 Principal payments (107) Total unrealized losses, included in other comprehensive income (218) Transfers in and/or (out) of Level 3 - Ending balance, December 31, 2016 $ 2,409 Beginning balance, January 1, 2017 $ 2,409 Principal payments (154) Total unrealized gains, included in other comprehensive income 1,184 Transfers in and/or (out) of Level 3 - Ending balance, December 31, 2017 $ 3,439 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] | (Dollars in thousands) Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Impaired loans $ 1,818 $ - $ - $ 1,818 Foreclosed real estate 1,699 - - 1,699 (Dollars in thousands) Fair Value Measurements at December 31, 2016 Using (Dollars in thousands) Estimated Quoted Prices in Significant Other Significant Impaired loans $ 2,282 $ - $ - $ 2,282 Foreclosed real estate 2,665 - - 2,665 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table shows carrying values and related estimated fair values of financial instruments as of the dates indicated. Estimated fair values are further categorized by the inputs used to measure fair value. Items that are not financial instruments are not included. December 31, 2017 Estimated Fair Value Measurements at December 31, 2017 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 11,025 $ 11,025 $ 11,025 $ - $ - Certificates of deposit in other financial institutions 1,676 1,640 - 1,640 - Securities available-for-sale 244,490 244,490 476 240,575 3,439 Loans held-for-sale 1,592 1,625 1,625 - - Loans receivable, net 612,729 608,506 - - 608,506 Federal Home Loan Bank stock 3,000 3,000 - 3,000 - Accrued interest receivable 3,262 3,262 - 3,262 - Financial liabilities: Non-interest bearing deposits 120,556 120,556 120,556 - - Interest bearing deposits 672,448 670,967 488,528 182,439 - Repurchase agreements 11,300 11,292 9,545 1,747 - Borrowed funds 20,881 20,818 600 20,218 - Accrued interest payable 42 42 - 42 - December 31, 2016 Estimated Fair Value Measurements at December 31, 2016 Using (Dollars in thousands) Carrying Estimated Quoted Prices in Significant Significant Financial assets: Cash and cash equivalents $ 45,109 $ 45,109 $ 45,109 $ - $ - Certificates of deposit in other financial institutions 885 866 - 866 - Securities available-for-sale 233,625 233,625 222 230,994 2,409 Loans held-for-sale 2,193 2,242 2,242 - - Loans receivable, net 575,952 568,855 - - 568,855 Federal Home Loan Bank stock 3,000 3,000 - 3,000 - Accrued interest receivable 3,086 3,086 - 3,086 - Financial liabilities: Non-interest bearing deposits 111,800 111,800 111,800 - - Interest bearing deposits 667,971 667,227 482,307 184,920 - Repurchase agreements 13,998 13,995 11,439 2,556 - Borrowed funds 25,828 25,840 700 25,140 - Accrued interest payable 41 41 - 41 - |
Parent Company Only Statements
Parent Company Only Statements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | (Dollars in thousands) NorthWest Indiana Bancorp Condensed Balance Sheets December 31, December 31, 2017 2016 Assets Cash on deposit with Peoples Bank $ 125 $ 57 Investment in Peoples Bank 89,915 82,875 Investment in NWIN Risk Management, Inc. 1,674 775 Dividends receivable from Peoples Bank 831 800 Other assets 899 775 Total assets $ 93,444 $ 85,282 Liabilities and stockholders’ equity Dividends payable $ 831 $ 800 Other liabilities 553 374 Total liabilities 1,384 1,174 Common stock 361 361 Additional paid in capital 4,506 4,300 Accumulated other comprehensive income 684 (1,506) Retained earnings 86,509 80,953 Total stockholders’ equity 92,060 84,108 Total liabilities and stockholders’ equity $ 93,444 $ 85,282 |
Condensed Income Statement [Table Text Block] | (Dollars in thousands) NorthWest Indiana Bancorp Condensed Statements of Income Year Ended December 31, 2017 2016 Dividends from Peoples Bank $ 3,295 $ 3,520 Operating expenses 262 194 Income before income taxes and equity in undistributed income of Peoples Bank 3,033 3,326 Income tax benefit (69) (54) Income before equity in undistributed income of Peoples Bank 3,102 3,380 Equity in undistributed income of Peoples Bank 4,961 5,237 income of NWIN Risk Management, Inc. 898 525 Net income $ 8,961 $ 9,142 |
Condensed Cash Flow Statement [Table Text Block] | (Dollars in thousands) NorthWest Indiana Bancorp Condensed Statements of Cash Flows Year Ended December 31, 2017 2016 Cash flows from operating activities: Net income $ 8,961 $ 9,142 Adjustments to reconcile net income to net cash provided by operating activities Equity in undistributed net income of: Peoples Bank (4,961) (5,237) NWIN Risk Management, Inc. (898) (525) Stock based compensation expense 192 142 Change in other assets (155) (654) Change in other liabilities 179 (159) Total adjustments (5,643) (6,433) Net cash - operating activities 3,318 2,709 Cash flows from investing activities: Investment in NWIN Risk Management, Inc. - (250) Net cash - investing activities - (250) Cash flows from financing activities: Dividends paid (3,264) (3,143) Proceeds from issuance of common stock 14 - Net cash - financing activities (3,250) (3,143) Net change in cash 68 (684) Cash at beginning of year 57 741 Cash at end of year $ 125 $ 57 |
Summary of Significant Accoun41
Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Significant Accounting Policies [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 0 | |
Federal Reserve Bank [Member] | ||
Significant Accounting Policies [Line Items] | ||
Cash, FDIC Insured Amount | $ 878 | $ 765 |
Premises And Equipment [Member] | Minimum [Member] | ||
Significant Accounting Policies [Line Items] | ||
Property, Plant and Equipment, Useful Life | 26 years | |
Premises And Equipment [Member] | Maximum [Member] | ||
Significant Accounting Policies [Line Items] | ||
Property, Plant and Equipment, Useful Life | 39 years | |
Furniture and Equipment [Member] | Minimum [Member] | ||
Significant Accounting Policies [Line Items] | ||
Property, Plant and Equipment, Useful Life | 2 years | |
Furniture and Equipment [Member] | Maximum [Member] | ||
Significant Accounting Policies [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years | |
Certificates of Deposit [Member] | ||
Significant Accounting Policies [Line Items] | ||
Maturities of Time Deposits, Description | Certificates of deposits in other financial institutions generally mature within 5 years and are carried at cost |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | $ 243,619 | $ 235,903 |
Gross Unrealized Gains | 3,879 | 2,587 |
Gross Unrealized Losses | (3,008) | (4,865) |
Estimated Fair Value | 244,490 | 233,625 |
Municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 100,088 | 95,242 |
Gross Unrealized Gains | 3,709 | 2,146 |
Gross Unrealized Losses | (50) | (643) |
Estimated Fair Value | 103,747 | 96,745 |
U.S. government sponsored entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 3,996 | 16,643 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (106) | (369) |
Estimated Fair Value | 3,890 | 16,274 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 134,224 | 118,807 |
Gross Unrealized Gains | 170 | 441 |
Gross Unrealized Losses | (1,456) | (1,273) |
Estimated Fair Value | 132,938 | 117,975 |
Collateralized Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 4,835 | 4,989 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (1,396) | (2,580) |
Estimated Fair Value | 3,439 | 2,409 |
Money market fund [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 476 | 222 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | $ 476 | $ 222 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Contractual Maturities Of Available For Sale Debt Securities [Line Items] | ||
Estimated Fair Value, Due in one year or less | $ 757 | |
Estimated Fair Value, Due from one to five years | 6,150 | |
Estimated Fair Value, Due from five to ten years | 28,531 | |
Estimated Fair Value, Due over ten years | 76,114 | |
Estimated Fair Value, Total | $ 244,490 | $ 233,625 |
Tax-Equivalent Yield, Due in one year or less | 7.46% | |
Tax-Equivalent Yield, Due from one to five years | 4.79% | |
Tax-Equivalent Yield, Due from five to ten years | 5.21% | |
Tax-Equivalent Yield, Due over ten years | 4.73% | |
Tax-Equivalent Yield, Total | 3.62% | |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | ||
Contractual Maturities Of Available For Sale Debt Securities [Line Items] | ||
Estimated Fair Value, Total | $ 132,938 | $ 117,975 |
Tax-Equivalent Yield, Total | 2.57% |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Realized Gain Loss [Line Items] | ||
Proceeds | $ 56,347 | $ 44,258 |
Gross gains | 972 | 926 |
Gross losses | $ (112) | $ (100) |
Securities (Details 3)
Securities (Details 3) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Ending balance, December 31, 2016 | $ (1,506) |
Reclassification related to tax effect of unrealized gains | 0 |
Ending balance, December 31, 2017 | 684 |
Accumulated Other Comprehensive Income (Loss) [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Ending balance, December 31, 2016 | (1,506) |
Current period change | 2,079 |
Reclassification related to tax effect of unrealized gains | 111 |
Ending balance, December 31, 2017 | $ 684 |
Securities (Details 4)
Securities (Details 4) $ in Thousands | Dec. 31, 2017USD ($)Securities | Dec. 31, 2016USD ($)Securities |
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | $ 68,707 | $ 112,980 |
Unrealized Losses, Less than 12 months | (514) | (2,195) |
Estimated Fair Value, 12 months or longer | 46,147 | 4,696 |
Unrealized Losses, 12 months or longer | (2,494) | (2,670) |
Estimated Fair Value, Total | 114,854 | 117,676 |
Unrealized Losses, Total | $ (3,008) | $ (4,865) |
Number of securities, Unrealized Losses, Less than 12 months | Securities | 40 | 97 |
Number of securities, Unrealized Losses, 12 months or longer | Securities | 37 | 6 |
Number of securities, Unrealized Losses, Total | Securities | 77 | 103 |
U.S. government sponsored entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | $ 0 | $ 16,274 |
Unrealized Losses, Less than 12 months | 0 | (369) |
Estimated Fair Value, 12 months or longer | 3,890 | 0 |
Unrealized Losses, 12 months or longer | (106) | 0 |
Estimated Fair Value, Total | 3,890 | 16,274 |
Unrealized Losses, Total | (106) | (369) |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 66,917 | 75,931 |
Unrealized Losses, Less than 12 months | (511) | (1,183) |
Estimated Fair Value, 12 months or longer | 37,003 | 2,287 |
Unrealized Losses, 12 months or longer | (945) | (90) |
Estimated Fair Value, Total | 103,920 | 78,218 |
Unrealized Losses, Total | (1,456) | (1,273) |
Collateralized Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 0 | 0 |
Unrealized Losses, Less than 12 months | 0 | 0 |
Estimated Fair Value, 12 months or longer | 3,439 | 2,409 |
Unrealized Losses, 12 months or longer | (1,396) | (2,580) |
Estimated Fair Value, Total | 3,439 | 2,409 |
Unrealized Losses, Total | (1,396) | (2,580) |
Municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 1,790 | 20,775 |
Unrealized Losses, Less than 12 months | (3) | (643) |
Estimated Fair Value, 12 months or longer | 1,815 | 0 |
Unrealized Losses, 12 months or longer | (47) | 0 |
Estimated Fair Value, Total | 3,605 | 20,775 |
Unrealized Losses, Total | $ (50) | $ (643) |
Securities (Details Textual)
Securities (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax | $ 339 | $ 325 |
Trading Securities Pledged as Collateral | $ 21,200 | $ 32,400 |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Subtotal | $ 621,070 | $ 584,004 |
Less: Net deferred loan origination fees | (130) | (162) |
Less: Undisbursed loan funds | (729) | (192) |
Loan receivables | 620,211 | 583,650 |
Loans secured by real estate: | ||
Total loans secured by real estate | 514,703 | 476,440 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable before Fees, Gross | 460 | 522 |
Commercial business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable before Fees, Gross | 77,122 | 77,513 |
Government [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable before Fees, Gross | 28,785 | 29,529 |
Loan receivables | 28,785 | 29,529 |
Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 172,141 | 173,262 |
Loans secured by real estate: | ||
Total loans secured by real estate | 172,780 | 173,365 |
Home equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 36,769 | 32,575 |
Loans secured by real estate: | ||
Total loans secured by real estate | 36,718 | 32,614 |
Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 211,090 | 195,438 |
Loans secured by real estate: | ||
Total loans secured by real estate | 211,090 | 195,438 |
Construction and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 50,746 | 38,937 |
Loans secured by real estate: | ||
Total loans secured by real estate | 50,746 | 38,937 |
Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 43,368 | 36,086 |
Loans secured by real estate: | ||
Total loans secured by real estate | $ 43,369 | $ 36,086 |
Loans Receivable (Details 1)
Loans Receivable (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for loan losses: | ||
Beginning Balance | $ 7,698 | $ 6,953 |
Charge-offs | (1,476) | (562) |
Recoveries | 60 | 39 |
Provisions | 1,200 | 1,268 |
Ending Balance | 7,482 | 7,698 |
Ending balance: Loans receivable individually evaluated impairment reserves | 704 | 1,236 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 6,778 | 6,462 |
LOAN RECEIVABLES | ||
Loan receivables | 620,211 | 583,650 |
Ending balance: Loans individually evaluated for impairment | 1,832 | 2,562 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 690 | 956 |
Ending balance: Loans collectively evaluated for impairment | 617,689 | 580,132 |
Government [Member] | ||
Allowance for loan losses: | ||
Beginning Balance | 56 | 70 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | (2) | (14) |
Ending Balance | 54 | 56 |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 54 | 56 |
LOAN RECEIVABLES | ||
Loan receivables | 28,785 | 29,529 |
Ending balance: Loans individually evaluated for impairment | 0 | 0 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 |
Ending balance: Loans collectively evaluated for impairment | 28,785 | 29,529 |
Residential real estate [Member] | ||
Allowance for loan losses: | ||
Beginning Balance | 2,111 | 1,447 |
Charge-offs | (959) | (529) |
Recoveries | 3 | 2 |
Provisions | 413 | 1,191 |
Ending Balance | 1,568 | 2,111 |
Ending balance: Loans receivable individually evaluated impairment reserves | 21 | 879 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 1,547 | 1,232 |
LOAN RECEIVABLES | ||
Loan receivables | 172,141 | 173,262 |
Ending balance: Loans individually evaluated for impairment | 462 | 1,419 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 690 | 956 |
Ending balance: Loans collectively evaluated for impairment | 170,989 | 170,886 |
Home equity [Member] | ||
Allowance for loan losses: | ||
Beginning Balance | 299 | 263 |
Charge-offs | (60) | 0 |
Recoveries | 0 | 0 |
Provisions | (73) | 36 |
Ending Balance | 166 | 299 |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 166 | 299 |
LOAN RECEIVABLES | ||
Loan receivables | 36,769 | 32,575 |
Ending balance: Loans individually evaluated for impairment | 0 | 0 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 |
Ending balance: Loans collectively evaluated for impairment | 36,769 | 32,575 |
Commercial real estate [Member] | ||
Allowance for loan losses: | ||
Beginning Balance | 3,113 | 2,986 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 12 | 127 |
Ending Balance | 3,125 | 3,113 |
Ending balance: Loans receivable individually evaluated impairment reserves | 144 | 3 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 2,981 | 3,110 |
LOAN RECEIVABLES | ||
Loan receivables | 211,090 | 195,438 |
Ending balance: Loans individually evaluated for impairment | 512 | 322 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 |
Ending balance: Loans collectively evaluated for impairment | 210,578 | 195,116 |
Construction and land develolpment [Member] | ||
Allowance for loan losses: | ||
Beginning Balance | 617 | 692 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 1 | (75) |
Ending Balance | 618 | 617 |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 618 | 617 |
LOAN RECEIVABLES | ||
Loan receivables | 50,746 | 38,937 |
Ending balance: Loans individually evaluated for impairment | 134 | 134 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 |
Ending balance: Loans collectively evaluated for impairment | 50,612 | 38,804 |
Multifamily [Member] | ||
Allowance for loan losses: | ||
Beginning Balance | 572 | 758 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 50 | (186) |
Ending Balance | 622 | 572 |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 622 | 572 |
LOAN RECEIVABLES | ||
Loan receivables | 43,368 | 36,086 |
Ending balance: Loans individually evaluated for impairment | 0 | 0 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 |
Ending balance: Loans collectively evaluated for impairment | 43,368 | 36,086 |
Consumer [Member] | ||
Allowance for loan losses: | ||
Beginning Balance | 34 | 38 |
Charge-offs | (71) | (33) |
Recoveries | 18 | 9 |
Provisions | 50 | 20 |
Ending Balance | 31 | 34 |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 31 | 34 |
LOAN RECEIVABLES | ||
Loan receivables | 461 | 524 |
Ending balance: Loans individually evaluated for impairment | 0 | 0 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 |
Ending balance: Loans collectively evaluated for impairment | 461 | 524 |
Commercial business [Member] | ||
Allowance for loan losses: | ||
Beginning Balance | 896 | 699 |
Charge-offs | (386) | 0 |
Recoveries | 39 | 28 |
Provisions | 749 | 169 |
Ending Balance | 1,298 | 896 |
Ending balance: Loans receivable individually evaluated impairment reserves | 539 | 354 |
Ending balance: Loans receivable collectively evaluated impairment reserves | 759 | 542 |
LOAN RECEIVABLES | ||
Loan receivables | 76,851 | 77,299 |
Ending balance: Loans individually evaluated for impairment | 724 | 687 |
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 |
Ending balance: Loans collectively evaluated for impairment | $ 76,127 | $ 76,612 |
Loans Receivable (Details 2)
Loans Receivable (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Moderate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | $ 8,056 | $ 6,736 |
Moderate [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Moderate [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 887 | 0 |
Moderate [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 83 |
Moderate [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 248 |
Moderate [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Moderate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Moderate [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 90 |
Moderate [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 7,169 | 6,315 |
Above average acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 35,405 | 26,391 |
Above average acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 2,318 | 955 |
Above average acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 12,317 | 6,069 |
Above average acceptable [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 1,065 | 1,172 |
Above average acceptable [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 2,372 | 2,708 |
Above average acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 439 |
Above average acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Above average acceptable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 131 | 4 |
Above average acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 17,202 | 15,044 |
Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 285,153 | 297,282 |
Acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 20,202 | 25,474 |
Acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 92,241 | 94,394 |
Acceptable [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 34,871 | 30,459 |
Acceptable [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 79,847 | 93,293 |
Acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 20,719 | 11,355 |
Acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 20,159 | 17,123 |
Acceptable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 330 | 430 |
Acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 16,784 | 24,754 |
Marginally acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 158,206 | 129,669 |
Marginally acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 6,265 | 3,100 |
Marginally acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 8,759 | 7,085 |
Marginally acceptable [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Marginally acceptable [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 81,547 | 64,950 |
Marginally acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 19,583 | 18,913 |
Marginally acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 20,965 | 16,836 |
Marginally acceptable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Marginally acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 21,087 | 18,786 |
Pass/monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 115,806 | 106,888 |
Pass/monitor [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Pass/monitor [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 50,075 | 57,644 |
Pass/monitor [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 250 | 250 |
Pass/monitor [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 40,054 | 28,306 |
Pass/monitor [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 10,310 | 8,097 |
Pass/monitor [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 2,076 | 1,939 |
Pass/monitor [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Pass/monitor [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 13,041 | 10,653 |
Special mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 11,683 | 10,582 |
Special mention [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,130 | 4,015 |
Special mention [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 233 | 236 |
Special mention [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 6,758 | 5,611 |
Special mention [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 168 | 188 |
Special mention [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 394 | 533 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 5,902 | 6,102 |
Substandard [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Substandard [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 3,732 | 4,056 |
Substandard [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 350 | 376 |
Substandard [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 512 | 323 |
Substandard [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 134 | 134 |
Substandard [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Substandard [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | $ 1,174 | $ 1,214 |
Loans Receivable (Details 3)
Loans Receivable (Details 3) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Residential real estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $ 1,152 | $ 2,375 |
Unpaid Principal Balance | 3,621 | 4,359 |
Related Allowance | 21 | 879 |
Average Recorded Investment | 1,357 | 2,930 |
Interest Income Recognized | 71 | 126 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 512 | 323 |
Unpaid Principal Balance | 512 | 323 |
Related Allowance | 144 | 3 |
Average Recorded Investment | 502 | 1,227 |
Interest Income Recognized | 6 | 6 |
Construction and land develolpment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 134 | 134 |
Unpaid Principal Balance | 134 | 134 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 134 | 134 |
Interest Income Recognized | 0 | 0 |
Commercial business [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 724 | 687 |
Unpaid Principal Balance | 724 | 687 |
Related Allowance | 539 | 354 |
Average Recorded Investment | 690 | 492 |
Interest Income Recognized | 10 | 5 |
Impaired Loans With No Related Allowance [Member] | Residential real estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,072 | 1,309 |
Unpaid Principal Balance | 3,351 | 3,293 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,101 | 2,582 |
Interest Income Recognized | 70 | 120 |
Impaired Loans With No Related Allowance [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 253 | 305 |
Unpaid Principal Balance | 253 | 305 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 339 | 1,138 |
Interest Income Recognized | 6 | 6 |
Impaired Loans With No Related Allowance [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 134 | 134 |
Unpaid Principal Balance | 134 | 134 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 134 | 134 |
Interest Income Recognized | 0 | 0 |
Impaired Loans With No Related Allowance [Member] | Commercial business [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 184 | 212 |
Unpaid Principal Balance | 184 | 212 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 198 | 168 |
Interest Income Recognized | 10 | 4 |
Impaired Loans With Related Allowance [Member] | Residential real estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 80 | 1,066 |
Unpaid Principal Balance | 270 | 1,066 |
Related Allowance | 21 | 879 |
Average Recorded Investment | 256 | 348 |
Interest Income Recognized | 1 | 6 |
Impaired Loans With Related Allowance [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 259 | 18 |
Unpaid Principal Balance | 259 | 18 |
Related Allowance | 144 | 3 |
Average Recorded Investment | 163 | 89 |
Interest Income Recognized | 0 | 0 |
Impaired Loans With Related Allowance [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Impaired Loans With Related Allowance [Member] | Commercial business [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 540 | 475 |
Unpaid Principal Balance | 540 | 475 |
Related Allowance | 539 | 354 |
Average Recorded Investment | 492 | 324 |
Interest Income Recognized | $ 0 | $ 1 |
Loans Receivable (Details 4)
Loans Receivable (Details 4) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 13,129 | $ 11,668 |
Current | 607,082 | 571,982 |
Total Loans | 620,211 | 583,650 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 227 | 500 |
Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 28,785 | 29,529 |
Total Loans | 28,785 | 29,529 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9,764 | 9,146 |
Current | 162,377 | 164,115 |
Total Loans | 172,141 | 173,262 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 225 | 436 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 547 | 626 |
Current | 36,222 | 31,949 |
Total Loans | 36,769 | 32,575 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 2 | 64 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,379 | 720 |
Current | 209,711 | 194,718 |
Total Loans | 211,090 | 195,438 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 133 | 134 |
Current | 50,613 | 38,804 |
Total Loans | 50,746 | 38,937 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 319 | 188 |
Current | 43,049 | 35,898 |
Total Loans | 43,368 | 36,086 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1 | 0 |
Current | 460 | 524 |
Total Loans | 461 | 524 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 986 | 853 |
Current | 75,865 | 76,445 |
Total Loans | 76,851 | 77,299 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Financing Receivables, 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,772 | 4,541 |
Financing Receivables, 30-59 Days Past Due [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 30-59 Days Past Due [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,921 | 3,640 |
Financing Receivables, 30-59 Days Past Due [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 295 | 334 |
Financing Receivables, 30-59 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 951 | 208 |
Financing Receivables, 30-59 Days Past Due [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 30-59 Days Past Due [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 319 | 188 |
Financing Receivables, 30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1 | 0 |
Financing Receivables, 30-59 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 285 | 171 |
Financing Receivables, 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,027 | 2,181 |
Financing Receivables, 60-89 Days Past Due [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,751 | 1,702 |
Financing Receivables, 60-89 Days Past Due [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 18 | 73 |
Financing Receivables, 60-89 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 96 | 189 |
Financing Receivables, 60-89 Days Past Due [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 162 | 217 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,330 | 4,946 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,092 | 3,804 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 234 | 220 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 332 | 323 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 133 | 134 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 539 | $ 465 |
Loans Receivable (Details 5)
Loans Receivable (Details 5) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | $ 4,996 | $ 5,605 |
Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 3,509 | 4,146 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 350 | 376 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 332 | 323 |
Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 133 | 134 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | $ 672 | $ 628 |
Loans Receivable (Details Textu
Loans Receivable (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 213 | |
Impaired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 2,600 | $ 2,900 |
Impaired Financing Receivable, Recorded Investment, Total | $ 690 | $ 956 |
Premises and Equipment, Net (De
Premises and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Cost: | ||
Land | $ 5,216 | $ 5,216 |
Buildings and improvements | 23,672 | 22,854 |
Furniture and equipment | 14,908 | 14,267 |
Total cost | 43,796 | 42,337 |
Less accumulated depreciation | (24,237) | (23,050) |
Premises and equipment, net | $ 19,559 | $ 19,287 |
Premises and Equipment, Net (56
Premises and Equipment, Net (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation | $ 1,380 | $ 1,350 |
Foreclosed Real Estate (Details
Foreclosed Real Estate (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Real Estate Properties [Line Items] | ||
Foreclosed real estate | $ 1,699 | $ 2,665 |
Residential real estate | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 914 | 1,810 |
Commercial real estate | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | $ 785 | $ 855 |
Goodwill and Other Intangible58
Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill | $ 2,792,000 | $ 2,792,000 | |
Pool Of Purchased Loans [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill, Purchase Accounting Adjustments | $ 178,000 | ||
Fixed Assets Valuations [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill, Purchase Accounting Adjustments | 109,000 | ||
Accrued WithDrawal Liability [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill, Purchase Accounting Adjustments | $ 162,000 | ||
First Federal Acquisition [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill | 2,000,000 | ||
Amortization of Intangible Assets | 12,000 | 12,000 | |
First Federal Acquisition [Member] | Loans Receivable [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion (Amortization) of Discounts and Premiums, Investments | 1,100,000 | ||
Accretion Expense | $ 149,000 | 217,000 | |
First Federal Acquisition [Member] | Loans Receivable [Member] | Home Equity Line of Credit [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion Amortization Of Discounts And Premiums Term | 55 months | ||
First Federal Acquisition [Member] | During 2018 [Member] | Loans Receivable [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion (Amortization) of Discounts and Premiums, Investments | $ 160,000 | ||
First Federal Acquisition [Member] | 2018 through 2021 | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | 12,000 | ||
Core Deposits [Member] | First Federal Acquisition [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Core Deposits, Gross | $ 93,000 | ||
Finite-Lived Intangible Asset, Useful Life | 7 years 10 months 24 days | ||
Liberty Savings [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill | $ 804,000 | ||
Amortization of Intangible Assets | 58,000 | 58,000 | |
Liberty Savings [Member] | Certificates of Deposit [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion (Amortization) of Discounts and Premiums, Investments | $ 124,000 | ||
Accretion Amortization Of Discounts And Premiums Term | 17 months | ||
Amortization Expense | $ 0 | 80,000 | |
Liberty Savings [Member] | Loans Receivable [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion (Amortization) of Discounts and Premiums, Investments | $ 1,200,000 | ||
Accretion Amortization Of Discounts And Premiums Term | 44 months | ||
Accretion Expense | $ 307,000 | $ 389,000 | |
Liberty Savings [Member] | During 2018 [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion Expense | 264,000 | ||
Liberty Savings [Member] | During 2019 [Member] | Loans Receivable [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Accretion Expense | 44,000 | ||
Liberty Savings [Member] | First Federal Acquisition [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Goodwill | 2,800,000 | ||
Liberty Savings [Member] | Core Deposits [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Finite-Lived Core Deposits, Gross | $ 471,000 | ||
Finite-Lived Intangible Asset, Useful Life | 8 years 2 months 12 days | ||
Liberty Savings [Member] | Core Deposits [Member] | 2018 through 2022 | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | $ 58,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Federal: | ||
Current | $ 1,898 | $ 2,343 |
Deferred | 275 | (129) |
Revaluation of net deferred tax asset | 517 | 0 |
State: | ||
Current | 77 | 80 |
Deferred, net of valuation allowance | 102 | 254 |
Income tax expense | $ 2,869 | $ 2,548 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Federal statutory rate | 34.00% | 34.00% |
Tax expense at statutory rate | $ 4,022 | $ 3,975 |
State tax, net of federal effect | 118 | 220 |
Tax exempt income | (1,302) | (1,318) |
Bank owned life insurance | (156) | (160) |
Captive insurance | (307) | (179) |
Revaluation of net deferred tax asset | 517 | 0 |
Other | (23) | 10 |
Total income tax expense | $ 2,869 | $ 2,548 |
Income Taxes (Details 2)
Income Taxes (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Bad debts | $ 1,885 | $ 2,872 |
Deferred loan fees | 32 | 60 |
Deferred compensation | 332 | 503 |
Unrealized depreciation on securities available-for-sale, net | 0 | 771 |
Net operating loss, state | 290 | 294 |
Tax credits | 99 | 98 |
Nonaccrual loan interest income | 71 | 109 |
Share based compensation | 133 | 126 |
REO writedowns | 25 | 0 |
Unqualified deferred compensation plan | 51 | 74 |
Other-than-temporary impairment | 57 | 92 |
Accrued vacation | 59 | 129 |
Impairment on land | 48 | 71 |
Other | 15 | 29 |
Total deferred tax assets | 3,097 | 5,228 |
Deferred tax liabilities: | ||
Depreciation | (641) | (850) |
Prepaids | (237) | (346) |
Mortgage servicing rights | (26) | (51) |
Deferred stock dividends | (65) | (97) |
Unrealized appreciation on securities available-for-sale, net | (188) | 0 |
Purchase accounting | (100) | (88) |
Other | (209) | (181) |
Total deferred tax liabilities | (1,466) | (1,613) |
Valuation allowance | (80) | (98) |
Net deferred tax asset | $ 1,551 | $ 3,517 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Loss Carryforwards | $ 6,900 | |
Operating Loss Carryforwards Date Of Expiration | 2,024 | |
Deferred Tax Assets, Valuation Allowance | $ 80 | $ 98 |
Deferred Tax Liabilities Retained Earnings | 6,000 | 6,000 |
Tax Credit Carryforward, Amount | 1,300 | 2,000 |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 517 | $ 0 |
Income Tax Expense benefit, Continuing Operations, Revaluation Of Net Deferred Tax Asset, Gross | 628 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 0 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | 34.00% |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 111 | |
Maximum [Member] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | |
Minimum [Member] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards | $ 126 | |
Operating Loss Carryforwards Date Of Expiration | 2,017 |
Deposits (Details)
Deposits (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 133,265 |
2,019 | 39,065 |
2,020 | 9,444 |
2,021 | 2,051 |
2,022 | 95 |
Total | $ 183,920 |
Deposits (Details Textual)
Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Time Deposits 250000 Or More | $ 29.9 | $ 24.8 |
Borrowed Funds (Details)
Borrowed Funds (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fixed rate advances from the FHLB | $ 17,100 | $ 25,100 |
Line of credit at FHLB | 3,181 | 28 |
Other | 600 | 700 |
Total | $ 20,881 | $ 25,828 |
Borrowed Funds (Details 1)
Borrowed Funds (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
2,018 | $ 9,881 | |
2,019 | 9,000 | |
2,020 | 2,000 | |
Total | $ 20,881 | $ 25,828 |
Borrowed Funds (Details 2)
Borrowed Funds (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Ending balance | $ 11,300 | $ 13,998 |
Average balance during the year | 13,734 | 17,755 |
Maximum month-end balance during the year | 17,720 | 23,308 |
Securities underlying the agreements at year end: Carrying value | 18,053 | 23,571 |
Securities underlying the agreements at year end: Fair value | $ 18,053 | $ 23,571 |
Average interest rate during the year | 0.82% | 0.55% |
Average interest rate at year end | 0.91% | 0.56% |
Borrowed Funds (Details 3)
Borrowed Funds (Details 3) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fixed rate advances, maturing January 2018 through June 2020 at rates from 0.97% to 2.11%; average rate: 2017 - 1.67%; 2016 - 1.40% | $ 17,100 | $ 25,100 |
Borrowed Funds (Details Textual
Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 270,800 | $ 242,700 |
Maximum [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.11% | 1.40% |
Minimum [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 0.97% | 1.67% |
Federal Home Loan Bank Advances [Member] | ||
Long-term Line of Credit | $ 20,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 3,200 | $ 28 |
Employees' Benefit Plans (Detai
Employees' Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Eligibility Of Employees | Employees are eligible to participate in the Employees Savings and Profit Sharing Plan and Trust on the next January 1 or July 1 following the completion of one year of employment, attaining age 18, and completion of 1,000 hours of service. | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 8.00% | 9.00% |
Defined Contribution Plan, Cost Recognized | $ 796 | $ 843 |
Deferred Compensation Liability, Current and Noncurrent | 211 | 200 |
Deferred Compensation Arrangement with Individual, Compensation Expense | 6 | 13 |
Deferred Costs | 68 | 72 |
Deferred Fee Liability | $ 1,300 | $ 1,400 |
Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Description of Defined Contribution Pension and Other Postretirement Plans | Participants also become 100% vested in the employer contributions and accrued earnings in their account upon their death, approved disability, or attainment of age 65 while employed at the Bank. | |
Two Years Of Service [Member] | Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Funded Percentage | 40.00% | |
Three Years Of Service [Member] | Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Funded Percentage | 60.00% | |
Four Years Of Service [Member] | Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Funded Percentage | 80.00% | |
Five Years Of Service [Member] | Trust for Benefit of Employees [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Funded Percentage | 100.00% | |
Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan Employees Pre Tax Contributions | 50.00% | |
Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan Employees Pre Tax Contributions | 1.00% |
Regulatory Capital (Details)
Regulatory Capital (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Peoples Bank SB [Member] | ||
Regulatory Capital [Line Items] | ||
Tier 1 capital to risk-weighted assets Actual Amount (in dollars) | $ 86.3 | $ 81.2 |
Tier 1 capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes (in dollars) | 41.2 | 37.9 |
Tier 1 capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (in dollars) | 54.9 | 50.5 |
Total capital to risk-weighted assets Actual (in dollars) | 93.8 | 88.9 |
Total capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes (in dollars) | 54.9 | 50.5 |
Total capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (in dollars) | 68.7 | 63.1 |
Tier 1 capital to adjusted average assets Actual (in dollars) | 86.3 | 81.2 |
Tier 1 capital to adjusted average assets Minimum Required For Capital Adequacy Purposes (in dollars) | 36.7 | 35.9 |
Tier 1 capital to adjusted average assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (in dollars) | $ 45.8 | $ 44.9 |
Tier 1 capital to risk-weighted assets Actual Ratio | 12.60% | 12.90% |
Tier 1 capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes | 6.00% | 6.00% |
Tier 1 capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations | 8.00% | 8.00% |
Total capital to risk-weighted assets Actual | 13.70% | 14.10% |
Total capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes | 8.00% | 8.00% |
Total capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations | 10.00% | 10.00% |
Tier 1 capital to adjusted average assets Actual | 9.40% | 9.00% |
Tier 1 capital to adjusted average assets Minimum Required For Capital Adequacy Purposes | 4.00% | 4.00% |
Tier 1 capital to adjusted average assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations | 5.00% | 5.00% |
Parent Company [Member] | ||
Regulatory Capital [Line Items] | ||
Tier 1 capital to risk-weighted assets Actual Amount (in dollars) | $ 88.4 | $ 82.4 |
Tier 1 capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes (in dollars) | 41.2 | 37.8 |
Tier 1 capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (in dollars) | ||
Total capital to risk-weighted assets Actual (in dollars) | 96 | 90.1 |
Total capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes (in dollars) | 55 | 50.4 |
Total capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (in dollars) | ||
Tier 1 capital to adjusted average assets Actual (in dollars) | 88.4 | 82.4 |
Tier 1 capital to adjusted average assets Minimum Required For Capital Adequacy Purposes (in dollars) | 36.8 | 36 |
Tier 1 capital to adjusted average assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (in dollars) | ||
Tier 1 capital to risk-weighted assets Actual Ratio | 12.90% | 13.10% |
Tier 1 capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes | 6.00% | 6.00% |
Tier 1 capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations | ||
Total capital to risk-weighted assets Actual | 14.00% | 14.30% |
Total capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes | 8.00% | 8.00% |
Total capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations | ||
Tier 1 capital to adjusted average assets Actual | 9.60% | 9.20% |
Tier 1 capital to adjusted average assets Minimum Required For Capital Adequacy Purposes | 4.00% | 4.00% |
Tier 1 capital to adjusted average assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations | ||
Common Stock [Member] | Peoples Bank SB [Member] | ||
Regulatory Capital [Line Items] | ||
Tier 1 capital to risk-weighted assets Actual Amount (in dollars) | $ 86.3 | $ 81.2 |
Tier 1 capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes (in dollars) | 30.9 | 28.4 |
Tier 1 capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (in dollars) | $ 44.6 | $ 41 |
Tier 1 capital to risk-weighted assets Actual Ratio | 12.60% | 12.90% |
Tier 1 capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes | 4.50% | 4.50% |
Tier 1 capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations | 6.50% | 6.50% |
Common Stock [Member] | Parent Company [Member] | ||
Regulatory Capital [Line Items] | ||
Tier 1 capital to risk-weighted assets Actual Amount (in dollars) | $ 88.4 | $ 82.4 |
Tier 1 capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes (in dollars) | 30.9 | 28.3 |
Tier 1 capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations (in dollars) | ||
Tier 1 capital to risk-weighted assets Actual Ratio | 12.90% | 13.10% |
Tier 1 capital to risk-weighted assets Minimum Required For Capital Adequacy Purposes | 4.50% | 4.50% |
Tier 1 capital to risk-weighted assets Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations |
Regulatory Capital (Details Tex
Regulatory Capital (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Nov. 17, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | |
Regulatory Capital [Line Items] | ||||
Common Stock, Dividends, Per Share, Declared | $ 0.29 | $ 1.15 | $ 1.11 | |
Scenario, Forecast [Member] | ||||
Regulatory Capital [Line Items] | ||||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 10.2 |
Stock Based Compensation (Detai
Stock Based Compensation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares - Exercised (in shares) | (500) | |
Weighted-Average Exercise Price - Exercised (in dollars per share) | $ 28.50 | |
Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares - Outstanding Begining Balance (in shares) | 500 | 750 |
Shares - Granted (in shares) | 0 | 0 |
Shares - Exercised (in shares) | (500) | 0 |
Shares - Forfeited or expired (in shares) | 0 | (250) |
Shares - Outstanding Ending Balance (in shares) | 0 | 500 |
Shares - Vested or expected to vest (in shares) | 0 | 500 |
Shares - Exercisable (in shares) | 0 | 500 |
Weighted-Average Exercise Price - Outstanding at Begining of period (in dollars per share) | $ 28.50 | $ 28.50 |
Weighted-Average Exercise Price - Granted (in dollars per shares) | 0 | 0 |
Weighted-Average Exercise Price - Exercised (in dollars per share) | 28.50 | 0 |
Weighted-Average Exercise Price - Forfeited or expired (in dollars per share) | 0 | 28.50 |
Weighted-Average Exercise Price - Outstanding at end of period (in dollars per share) | 0 | 28.50 |
Weighted Average Exercise Price - Vested or expected to vest (in dollars per share) | 0 | 28.50 |
Weighted-Average Exercise Price - Exercisable at end of period (in dollars per share) | $ 0 | $ 28.50 |
Weighted-Average Remaining Contractual Term - Outstanding at end of period (in years) | 0 years | 1 year 2 months 12 days |
Weighted Remaining Contractual Term - Vested or expected to vest (in years) | 0 years | 1 year 2 months 12 days |
Weighted-Average Remaining Contractual Term - Exercisable at end of period (in years) | 0 years | 1 year 2 months 12 days |
Aggregate Intrinsic Value - Outstanding at end of period (in dollars) | $ 0 | $ 5,175 |
Aggregate Intrinsic Value -Vested or expected to vest (in dollars) | 0 | 5,175 |
Aggregate Intrinsic Value - Exercisable at end of period (in dollars) | $ 0 | $ 5,175 |
Stock Based Compensation (Det74
Stock Based Compensation (Details 1) - Employee Stock Option [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares - Nonvested, Beginning Balance (in shares) | 28,465 | 19,725 |
Shares - Granted (in shares) | 4,575 | 8,740 |
Shares - Vested (in shares) | (1,625) | 0 |
Shares - Forfeited (in shares) | (725) | 0 |
Shares - Nonvested, Ending Balance (in shares) | 30,690 | 28,465 |
Weighted Average Exercise Price - Nonvested, Beginning Balance (in dollars per share) | $ 26.67 | $ 25.15 |
Weighted Average Exercise Price - Granted (in dollars per share) | 39 | 30.1 |
Weighted Average Exercise Price - Vested (in dollars per share) | 25.81 | 0 |
Weighted Average Exercise Price - Forfeited (in dollars per share) | 28.62 | 0 |
Weighted Average Exercise Price - Nonvested, Ending Balance (in dollars per share) | $ 28.51 | $ 26.67 |
Stock Based Compensation (Det75
Stock Based Compensation (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 250,000 | |
Adjustments to Additional Paid in Capital, Share-based Compensation, Stock Options, Requisite Service Period Recognition | $ 192 | $ 142 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 400 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 1 month 6 days |
Earnings per Common Share (Deta
Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Basic earnings per common share: | ||
Net income available to common stockholders | $ 8,961 | $ 9,142 |
Weighted-average common shares outstanding | 2,863,899 | 2,858,556 |
Basic earnings per common share | $ 3.13 | $ 3.2 |
Diluted earnings per common share: | ||
Net income available to common stockholders | $ 8,961 | $ 9,142 |
Weighted-average common shares outstanding | 2,863,899 | 2,858,556 |
Weighted-average common and dilutive potential common shares outstanding | 2,864,037 | 2,858,601 |
Diluted earnings per common share | $ 3.13 | $ 3.2 |
Related Party Transactions (Det
Related Party Transactions (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Related Party Transaction [Line Items] | |
Aggregate balance at the beginning of the year | $ 3,691 |
New loans | 426 |
Repayments | (2,450) |
Aggregate balance at the end of the year | $ 1,667 |
Related Party Transactions (D78
Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Loans and Leases Receivable, Related Parties | $ 1,667 | $ 3,691 |
Deposits | 793,004 | 779,771 |
Directors and Executive Officers [Member] | ||
Related Party Transaction [Line Items] | ||
Deposits | 4,400 | $ 4,100 |
Directors and Executive Officers [Member] | Minimum [Member] | ||
Related Party Transaction [Line Items] | ||
Loans and Leases Receivable, Related Parties | $ 120,000 |
Commitments and Contingencies79
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | $ 58,249 | $ 55,830 |
Loans and Leases Receivable, Commitments, Variable Rates | 79,190 | 66,190 |
Loans And Leases Receivable Commitments | 137,439 | 122,020 |
Government [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | 0 | 0 |
Loans and Leases Receivable, Commitments, Variable Rates | 0 | 0 |
Loans And Leases Receivable Commitments | 0 | 0 |
Consumer Loan [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | 16,469 | 15,332 |
Loans and Leases Receivable, Commitments, Variable Rates | 0 | 0 |
Loans And Leases Receivable Commitments | 16,469 | 15,332 |
Commercial Real Estate [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | 1,351 | 1,426 |
Loans and Leases Receivable, Commitments, Variable Rates | 6,866 | 5,973 |
Loans And Leases Receivable Commitments | 8,217 | 7,399 |
Commercial business [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | 1,103 | 1,088 |
Loans and Leases Receivable, Commitments, Variable Rates | 41,381 | 41,474 |
Loans And Leases Receivable Commitments | 42,484 | 42,562 |
Residential Real Estate [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | 70 | 82 |
Loans and Leases Receivable, Commitments, Variable Rates | 7,678 | 7,683 |
Loans And Leases Receivable Commitments | 7,748 | 7,765 |
Home Equity Loan [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | 31,008 | 25,896 |
Loans and Leases Receivable, Commitments, Variable Rates | 1,838 | 2,839 |
Loans And Leases Receivable Commitments | 32,846 | 28,735 |
Multifamily [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | 174 | 6,168 |
Loans and Leases Receivable, Commitments, Variable Rates | 322 | 192 |
Loans And Leases Receivable Commitments | 496 | 6,360 |
Construction and Land Development [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | 8,074 | 5,838 |
Loans and Leases Receivable, Commitments, Variable Rates | 21,105 | 8,029 |
Loans And Leases Receivable Commitments | $ 29,179 | $ 13,867 |
Commitments and Contingencies80
Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Commitments and Contingencies [Line Items] | ||
Loans and Leases Receivable, Commitments, Fixed Rates | $ 58,249 | $ 55,830 |
Standby Letters of Credit [Member] | ||
Commitments and Contingencies [Line Items] | ||
Letters of Credit Outstanding, Amount | $ 9,900 | $ 7,800 |
Minimum [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans Receivable Fixed Rates Of Interest | 2.99% | 2.99% |
Maximum [Member] | ||
Commitments and Contingencies [Line Items] | ||
Loans Receivable Fixed Rates Of Interest | 10.00% | 10.00% |
Fair Values of Financial Inst81
Fair Values of Financial Instruments (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | |
Ending balance, December 31, 2016 | $ 271 |
Additions not previously recognized | 0 |
Ending balance, December 31, 2017 | $ 271 |
Fair Values of Financial Inst82
Fair Values of Financial Instruments (Details 1) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Other-than-temporary impairment model assumptions: | |||
Other-than-temporary impairment | $ 271,000 | $ 271,000 | |
Cusip One [Member] | |||
Fair Value Pooled Trust Preferred Securities [Line Items] | |||
Cusip | 74043CAC1 | ||
Deal name | PreTSL XXIV | ||
Class | B1 | ||
Lowest credit rating assigned | CCC | ||
Number of performing banks | 62 | ||
Number of performing insurance companies | 13 | ||
Number of issuers in default | 16 | ||
Number of issuers in deferral | 2 | ||
Defaults & deferrals as a % of performing collateral | 26.56% | ||
Subordination: | |||
As a % of performing collateral | 23.55% | ||
As a % of performing collateral - adjusted for projected future defaults | 18.67% | ||
Other-than-temporary impairment model assumptions: | |||
Year 1 - issuer average | 2.00% | ||
Year 2 - issuer average | 2.00% | ||
Year 3 - issuer average | 2.00% | ||
> 3 Years - issuer average | [1] | ||
Discount rate - 3 month Libor, plus implicit yield spread at purchase | 1.48% | ||
Recovery assumptions | [2] | ||
Prepayments | 0.00% | ||
Other-than-temporary impairment | $ 41 | ||
Cusip Two [Member] | |||
Fair Value Pooled Trust Preferred Securities [Line Items] | |||
Cusip | 74042TAJ0 | ||
Deal name | PreTSL XXVII | ||
Class | C1 | ||
Lowest credit rating assigned | CC | ||
Number of performing banks | 33 | ||
Number of performing insurance companies | 7 | ||
Number of issuers in default | 7 | ||
Number of issuers in deferral | 2 | ||
Defaults & deferrals as a % of performing collateral | 20.06% | ||
Subordination: | |||
As a % of performing collateral | 8.35% | ||
As a % of performing collateral - adjusted for projected future defaults | 1.24% | ||
Other-than-temporary impairment model assumptions: | |||
Year 1 - issuer average | 2.40% | ||
Year 2 - issuer average | 2.40% | ||
Year 3 - issuer average | 2.40% | ||
> 3 Years - issuer average | [1] | ||
Discount rate - 3 month Libor, plus implicit yield spread at purchase | 1.23% | ||
Recovery assumptions | [2] | ||
Prepayments | 0.00% | ||
Other-than-temporary impairment | $ 132 | ||
Cusip Three [Member] | |||
Fair Value Pooled Trust Preferred Securities [Line Items] | |||
Cusip | 01449TAB9 | ||
Deal name | Alesco IX | ||
Class | A-2A | ||
Lowest credit rating assigned | BB | ||
Number of performing banks | 63 | ||
Number of performing insurance companies | 10 | ||
Number of issuers in default | 2 | ||
Number of issuers in deferral | 1 | ||
Defaults & deferrals as a % of performing collateral | 2.93% | ||
Subordination: | |||
As a % of performing collateral | 53.11% | ||
As a % of performing collateral - adjusted for projected future defaults | 49.64% | ||
Other-than-temporary impairment model assumptions: | |||
Year 1 - issuer average | 2.30% | ||
Year 2 - issuer average | 2.30% | ||
Year 3 - issuer average | 2.30% | ||
> 3 Years - issuer average | [1] | ||
Discount rate - 3 month Libor, plus implicit yield spread at purchase | 1.27% | ||
Recovery assumptions | [2] | ||
Prepayments | 0.00% | ||
Other-than-temporary impairment | $ 36 | ||
Cusip Four [Member] | |||
Fair Value Pooled Trust Preferred Securities [Line Items] | |||
Cusip | 01450NAC6 | ||
Deal name | Alesco XVII | ||
Class | B | ||
Lowest credit rating assigned | CCC | ||
Number of performing banks | 51 | ||
Number of issuers in default | 4 | ||
Number of issuers in deferral | 1 | ||
Defaults & deferrals as a % of performing collateral | 8.11% | ||
Subordination: | |||
As a % of performing collateral | 35.58% | ||
As a % of performing collateral - adjusted for projected future defaults | 31.69% | ||
Other-than-temporary impairment model assumptions: | |||
Year 1 - issuer average | 1.90% | ||
Year 2 - issuer average | 1.90% | ||
Year 3 - issuer average | 1.90% | ||
> 3 Years - issuer average | [1] | ||
Discount rate - 3 month Libor, plus implicit yield spread at purchase | 1.44% | ||
Recovery assumptions | [2] | ||
Prepayments | 0.00% | ||
Other-than-temporary impairment | $ 62 | ||
[1] | Default rates > 3 years are evaluated on a issuer by issuer basis and range from 0.25% to 5.00%. | ||
[2] | Recovery assumptions are evaluated on a issuer by issuer basis and range from 0% to 15% with a five year lag. |
Fair Values of Financial Inst83
Fair Values of Financial Instruments (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 244,490 | $ 233,625 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 476 | 222 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 240,575 | 230,994 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 3,439 | 2,409 |
Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 244,490 | 233,625 |
Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 476 | 222 |
Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 240,575 | 230,994 |
Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 3,439 | 2,409 |
Money market fund [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 476 | 222 |
Money market fund [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 476 | 222 |
Money market fund [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Money market fund [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Municipal securities [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 103,747 | 96,745 |
Municipal securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Municipal securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 103,747 | 96,745 |
Municipal securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
U.S. government sponsored entities [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 3,890 | 16,274 |
U.S. government sponsored entities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
U.S. government sponsored entities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 3,890 | 16,274 |
U.S. government sponsored entities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 132,938 | 117,975 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 132,938 | 117,975 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized debt obligations [Member] | Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 3,439 | 2,409 |
Collateralized debt obligations [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized debt obligations [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Collateralized debt obligations [Member] | Fair Value Measurements [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 3,439 | $ 2,409 |
Fair Values of Financial Inst84
Fair Values of Financial Instruments (Details 3) - Collateralized Debt Obligations [Member] - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | $ 2,409 | $ 2,734 |
Principal payments | (154) | (107) |
Total unrealized gains (losses), included in other comprehensive income | 1,184 | (218) |
Transfers in and/or (out) of Level 3 | 0 | 0 |
Ending balance | $ 3,439 | $ 2,409 |
Fair Values of Financial Inst85
Fair Values of Financial Instruments (Details 4) - Fair Value Measurements [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 1,818 | $ 2,282 |
Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,699 | 2,665 |
Fair Value, Inputs, Level 1 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,818 | 2,282 |
Fair Value, Inputs, Level 3 [Member] | Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 1,699 | $ 2,665 |
Fair Values of Financial Inst86
Fair Values of Financial Instruments (Details 5) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financial assets, Carrying value: | ||
Cash and cash equivalents - Carrying Value | $ 11,025 | $ 45,109 |
Certificates of deposit in other financial institutions -Carrying Value | 1,676 | 885 |
Securities available-for-sale - Carrying Value | 244,490 | 233,625 |
Loans held-for-sale - Carrying Value | 1,592 | 2,193 |
Loans receivable, net - Carrying Value | 612,729 | 575,952 |
Federal Home Loan Bank stock - Carrying Value | 3,000 | 3,000 |
Accrued interest receivable - Carrying Value | 3,262 | 3,086 |
Financial liabilities, Carrying value: | ||
Non-interest bearing deposits - Carrying Value | 120,556 | 111,800 |
Interest bearing deposits - Carrying Value | 672,448 | 667,971 |
Repurchase agreements - Carrying Value | 11,300 | 13,998 |
Borrowed funds - Carrying Value | 20,881 | 25,828 |
Accrued interest payable - Carrying Value | 42 | 41 |
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 11,025 | 45,109 |
Certificates of deposit in other financial institutions - Fair Value | 1,640 | 866 |
Securities available-for-sale - Estimated Fair Value | 244,490 | 233,625 |
Loans held-for-sale - Estimated Fair Value | 1,625 | 2,242 |
Loans receivable, net - Estimated Fair Value | 608,506 | 568,855 |
Federal Home Loan Bank stock - Estimated Fair Value | 3,000 | 3,000 |
Accrued interest receivable - Estimated Fair Value | 3,262 | 3,086 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 120,556 | 111,800 |
Interest bearing deposits - Estimated Fair Value | 670,967 | 667,227 |
Repurchase agreements - Estimated Fair Value | 11,292 | 13,995 |
Borrowed funds - Estimated Fair Value | 20,818 | 25,840 |
Accrued interest payable - Estimated Fair Value | 42 | 41 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 11,025 | 45,109 |
Certificates of deposit in other financial institutions - Fair Value | 0 | 0 |
Securities available-for-sale - Estimated Fair Value | 476 | 222 |
Loans held-for-sale - Estimated Fair Value | 1,625 | 2,242 |
Loans receivable, net - Estimated Fair Value | 0 | 0 |
Federal Home Loan Bank stock - Estimated Fair Value | 0 | 0 |
Accrued interest receivable - Estimated Fair Value | 0 | 0 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 120,556 | 111,800 |
Interest bearing deposits - Estimated Fair Value | 488,528 | 482,307 |
Repurchase agreements - Estimated Fair Value | 9,545 | 11,439 |
Borrowed funds - Estimated Fair Value | 600 | 700 |
Accrued interest payable - Estimated Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 0 | 0 |
Certificates of deposit in other financial institutions - Fair Value | 1,640 | 866 |
Securities available-for-sale - Estimated Fair Value | 240,575 | 230,994 |
Loans held-for-sale - Estimated Fair Value | 0 | 0 |
Loans receivable, net - Estimated Fair Value | 0 | 0 |
Federal Home Loan Bank stock - Estimated Fair Value | 3,000 | 3,000 |
Accrued interest receivable - Estimated Fair Value | 3,262 | 3,086 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 0 | 0 |
Interest bearing deposits - Estimated Fair Value | 182,439 | 184,920 |
Repurchase agreements - Estimated Fair Value | 1,747 | 2,556 |
Borrowed funds - Estimated Fair Value | 20,218 | 25,140 |
Accrued interest payable - Estimated Fair Value | 42 | 41 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 0 | 0 |
Certificates of deposit in other financial institutions - Fair Value | 0 | 0 |
Securities available-for-sale - Estimated Fair Value | 3,439 | 2,409 |
Loans held-for-sale - Estimated Fair Value | 0 | 0 |
Loans receivable, net - Estimated Fair Value | 608,506 | 568,855 |
Federal Home Loan Bank stock - Estimated Fair Value | 0 | 0 |
Accrued interest receivable - Estimated Fair Value | 0 | 0 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 0 | 0 |
Interest bearing deposits - Estimated Fair Value | 0 | 0 |
Repurchase agreements - Estimated Fair Value | 0 | 0 |
Borrowed funds - Estimated Fair Value | 0 | 0 |
Accrued interest payable - Estimated Fair Value | $ 0 | $ 0 |
Fair Values of Financial Inst87
Fair Values of Financial Instruments (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Values of Financial Instruments [Line Items] | ||
Minimum Percentage of Defaults Rates on Above 3 Years Issuer Average in Other than Temporary Impairment Model Assumptions | 0.25% | |
Maximum Percentage of Defaults Rates on Above 3 Years Issuer Average in Other than Temporary Impairment Model Assumptions | 5.00% | |
Minimum Percentage of Recovery Assumptions on Other than Temporary Impairment Model Assumptions | 0.00% | |
Maximum Percentage of Recovery Assumptions on Other than Temporary Impairment Model Assumptions | 15.00% | |
Available-for-sale Securities, Amortized Cost Basis | $ 3,500 | $ 3,500 |
Unpaid Principal Balance | 2,500 | 3,500 |
Impaired Financing Receivable, Reserve | 704 | 1,200 |
Impaired Financing Receivable, Fair Value | $ 1,800 | $ 2,300 |
Parent Company Only Statement88
Parent Company Only Statements (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | |||
Investment in Peoples Bank | $ 139 | $ 28,671 | |
Other assets | 6,080 | 7,022 | |
Total assets | 927,259 | 913,626 | |
Liabilities and stockholders' equity | |||
Total liabilities | 835,199 | 829,518 | |
Common stock | 361 | 361 | |
Additional paid in capital | 4,506 | 4,300 | |
Accumulated other comprehensive income | 684 | (1,506) | |
Retained earnings | 86,509 | 80,953 | |
Total stockholders’ equity | 92,060 | 84,108 | $ 80,909 |
Total liabilities and stockholders’ equity | 927,259 | 913,626 | |
Parent Company [Member] | |||
Assets | |||
Cash on deposit with Peoples Bank | 125 | 57 | |
Investment in Peoples Bank | 89,915 | 82,875 | |
Investment in NWIN Risk Management, Inc. | 1,674 | 775 | |
Dividends receivable from Peoples Bank | 831 | 800 | |
Other assets | 899 | 775 | |
Total assets | 93,444 | 85,282 | |
Liabilities and stockholders' equity | |||
Dividends payable | 831 | 800 | |
Other liabilities | 553 | 374 | |
Total liabilities | 1,384 | 1,174 | |
Common stock | 361 | 361 | |
Additional paid in capital | 4,506 | 4,300 | |
Accumulated other comprehensive income | 684 | (1,506) | |
Retained earnings | 86,509 | 80,953 | |
Total stockholders’ equity | 92,060 | 84,108 | |
Total liabilities and stockholders’ equity | $ 93,444 | $ 85,282 |
Parent Company Only Statement89
Parent Company Only Statements (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Condensed Income Statements, Captions [Line Items] | ||
Dividends from Peoples Bank | $ 3,294 | $ 3,173 |
Income before income taxes and equity in undistributed income of Peoples Bank | 11,830 | 11,690 |
Income tax benefit | 2,869 | 2,548 |
Net income | 8,961 | 9,142 |
Parent Company [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Dividends from Peoples Bank | 3,295 | 3,520 |
Operating expenses | 262 | 194 |
Income before income taxes and equity in undistributed income of Peoples Bank | 3,033 | 3,326 |
Income tax benefit | (69) | (54) |
Income before equity in undistributed income of Peoples Bank | 3,102 | 3,380 |
Equity in undistributed Income of Peoples Bank | 4,961 | 5,237 |
Income of NWIN Risk Management, Inc. | 898 | 525 |
Net income | $ 8,961 | $ 9,142 |
Parent Company Only Statement90
Parent Company Only Statements (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 8,961 | $ 9,142 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Stock based compensation expense | 192 | 142 |
Change in other assets | (455) | (858) |
Total adjustments | 3,337 | 1,248 |
Net cash - operating activities | 12,298 | 10,390 |
Cash flows from investing activities: | ||
Net cash - investing activities | (47,835) | (21,277) |
Cash flows from financing activities: | ||
Dividends paid | (3,264) | (3,143) |
Net cash - financing activities | 2,338 | 43,578 |
Net change in cash | (33,199) | 32,691 |
Cash and cash equivalents at beginning of period | 44,224 | 11,533 |
Cash and cash equivalents at end of period | 11,025 | 44,224 |
Parent Company [Member] | ||
Cash flows from operating activities: | ||
Net income | 8,961 | 9,142 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Equity in undistributed net income of: Peoples Bank | (4,961) | (5,237) |
NWIN Risk Management, Inc. | 898 | 525 |
Stock based compensation expense | 192 | 142 |
Change in other assets | (155) | (654) |
Change in other liabilities | 179 | (159) |
Total adjustments | (5,643) | (6,433) |
Net cash - operating activities | 3,318 | 2,709 |
Cash flows from investing activities: | ||
Investment in NWIN Risk Management, Inc. | 0 | (250) |
Net cash - investing activities | 0 | (250) |
Cash flows from financing activities: | ||
Dividends paid | (3,264) | (3,143) |
Proceeds from issuance of common stock | 14 | 0 |
Net cash - financing activities | (3,250) | (3,143) |
Net change in cash | 68 | (684) |
Cash and cash equivalents at beginning of period | 57 | 741 |
Cash and cash equivalents at end of period | $ 125 | $ 57 |