Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 02, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | NORTHWEST INDIANA BANCORP | |
Entity Central Index Key | 919,864 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | NWIN | |
Entity Common Stock, Shares Outstanding | 3,029,157 | |
Entity Emerging Growth Company | false | |
Entity Small Business | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and non-interest bearing deposits in other financial institutions | $ 9,990 | $ 10,529 |
Interest bearing deposits in other financial institutions | 2,576 | 139 |
Federal funds sold | 1,398 | 357 |
Total cash and cash equivalents | 13,964 | 11,025 |
Certificates of deposit in other financial institutions | 3,754 | 1,676 |
Securities available-for-sale | 238,071 | 244,490 |
Loans held-for-sale | 4,483 | 1,592 |
Loans receivable | 742,232 | 620,211 |
Less: allowance for loan losses | (7,749) | (7,482) |
Net loans receivable | 734,483 | 612,729 |
Federal Home Loan Bank stock | 3,236 | 3,000 |
Accrued interest receivable | 3,560 | 3,262 |
Premises and equipment | 24,868 | 19,559 |
Foreclosed real estate | 2,125 | 1,699 |
Cash value of bank owned life insurance | 23,007 | 19,355 |
Goodwill | 8,170 | 2,792 |
Other assets | 13,353 | 6,080 |
Total assets | 1,073,074 | 927,259 |
Deposits: | ||
Non-interest bearing | 134,449 | 120,556 |
Interest bearing | 768,307 | 672,448 |
Total | 902,756 | 793,004 |
Repurchase agreements | 12,585 | 11,300 |
Borrowed funds | 48,314 | 20,881 |
Accrued expenses and other liabilities | 12,932 | 10,014 |
Total liabilities | 976,587 | 835,199 |
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 and outstanding: September 30, 2018 - 3,029,157 December 31, 2017 - 2,864,507 | 0 | 0 |
Additional paid-in capital | 11,877 | 4,867 |
Accumulated other comprehensive income/(loss) | (5,992) | 684 |
Retained earnings | 90,602 | 86,509 |
Total stockholders' equity | 96,487 | 92,060 |
Total liabilities and stockholders' equity | $ 1,073,074 | $ 927,259 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares | Sep. 30, 2018 | Dec. 31, 2017 |
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 | 3,029,157 | 2,864,507 |
Common stock, shares outstanding | 3,029,157 | 2,864,507 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Loans receivable | ||||
Real estate loans | $ 7,189 | $ 5,773 | $ 19,240 | $ 16,800 |
Commercial loans | 1,266 | 1,050 | 3,457 | 3,116 |
Consumer loans | 97 | 5 | 106 | 15 |
Total loan interest | 8,552 | 6,828 | 22,803 | 19,931 |
Securities | 1,709 | 1,585 | 5,127 | 4,801 |
Other interest earning assets | 74 | 18 | 134 | 49 |
Total interest income | 10,335 | 8,431 | 28,064 | 24,781 |
Interest expense: | ||||
Deposits | 1,018 | 518 | 2,531 | 1,475 |
Repurchase agreements | 47 | 31 | 124 | 80 |
Borrowed funds | 254 | 110 | 682 | 281 |
Total interest expense | 1,319 | 659 | 3,337 | 1,836 |
Net interest income | 9,016 | 7,772 | 24,727 | 22,945 |
Provision for loan losses | 312 | 165 | 950 | 722 |
Net interest income after provision for loan losses | 8,704 | 7,607 | 23,777 | 22,223 |
Noninterest income: | ||||
Fees and service charges | 991 | 843 | 2,830 | 2,404 |
Wealth management operations | 414 | 459 | 1,253 | 1,267 |
Gain on sale of securities, net | 151 | 213 | 1,155 | 758 |
Gain on sale of loans held-for-sale, net | 451 | 412 | 1,021 | 883 |
Increase in cash value of bank owned life insurance | 130 | 119 | 358 | 349 |
Gain on sale of foreclosed real estate, net | 54 | 2 | 154 | 95 |
Other | 32 | 27 | 104 | 64 |
Total noninterest income | 2,223 | 2,075 | 6,875 | 5,820 |
Noninterest expense: | ||||
Compensation and benefits | 4,669 | 4,094 | 12,045 | 10,847 |
Occupancy and equipment | 829 | 845 | 2,524 | 2,542 |
Data processing | 1,012 | 364 | 2,076 | 1,092 |
Marketing | 223 | 135 | 523 | 469 |
Federal deposit insurance premiums | 91 | 84 | 250 | 242 |
Other | 2,233 | 1,403 | 5,512 | 4,061 |
Total noninterest expense | 9,057 | 6,925 | 22,930 | 19,253 |
Income before income tax expenses | 1,870 | 2,757 | 7,722 | 8,790 |
Income tax expenses | 245 | 509 | 1,025 | 1,715 |
Net income | $ 1,625 | $ 2,248 | $ 6,697 | $ 7,075 |
Earnings per common share: | ||||
Basic | $ 0.54 | $ 0.78 | $ 2.29 | $ 2.47 |
Diluted | 0.54 | 0.78 | 2.29 | 2.47 |
Dividends declared per common share | $ 0.30 | $ 0.29 | $ 0.89 | $ 0.87 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net income | $ 1,625 | $ 2,248 | $ 6,697 | $ 7,075 |
Net change in net unrealized gains and losses on securities available-for-sale: | ||||
Unrealized gains/(losses) arising during the period | (2,071) | 747 | (7,301) | 4,193 |
Less: reclassification adjustment for gains included in net income | (151) | (213) | (1,155) | (758) |
Net securities gain/(loss) during the period | (2,222) | 534 | (8,456) | 3,435 |
Tax effect | 467 | (183) | 1,780 | (1,169) |
Net of tax amount | (1,755) | 351 | (6,676) | 2,266 |
Comprehensive income/(loss), net of tax | $ (130) | $ 2,599 | $ 21 | $ 9,341 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity $ in Thousands | USD ($) |
Balance at beginning of period at Dec. 31, 2016 | $ 84,108 |
Comprehensive income: | |
Net income | 7,075 |
Net unrealized gains/(losses) on securities available-for-sale, net of reclassifications and tax effects | 2,266 |
Comprehensive income, net of tax | 9,341 |
Stock based compensation expense | 142 |
Net surrender value of restricted stock awards | 0 |
Cash dividends | (2,464) |
Balance at end of period at Sep. 30, 2017 | 91,127 |
Balance at beginning of period at Jun. 30, 2017 | 89,308 |
Comprehensive income: | |
Net income | 2,248 |
Net unrealized gains/(losses) on securities available-for-sale, net of reclassifications and tax effects | 351 |
Comprehensive income, net of tax | 2,599 |
Stock based compensation expense | 51 |
Net surrender value of restricted stock awards | 0 |
Cash dividends | (831) |
Balance at end of period at Sep. 30, 2017 | 91,127 |
Balance at beginning of period at Dec. 31, 2017 | 92,060 |
Comprehensive income: | |
Net income | 6,697 |
Net unrealized gains/(losses) on securities available-for-sale, net of reclassifications and tax effects | (6,676) |
Comprehensive income, net of tax | 21 |
Stock based compensation expense | 154 |
Net surrender value of restricted stock awards | (72) |
Issuance of 161,875 shares at $42.80 per share, for acquisition of First Personal Financial Corporation | 6,928 |
Cash dividends | (2,604) |
Balance at end of period at Sep. 30, 2018 | 96,487 |
Balance at beginning of period at Jun. 30, 2018 | 90,577 |
Comprehensive income: | |
Net income | 1,625 |
Net unrealized gains/(losses) on securities available-for-sale, net of reclassifications and tax effects | (1,755) |
Comprehensive income, net of tax | (130) |
Stock based compensation expense | 50 |
Net surrender value of restricted stock awards | (27) |
Issuance of 161,875 shares at $42.80 per share, for acquisition of First Personal Financial Corporation | 6,928 |
Cash dividends | (911) |
Balance at end of period at Sep. 30, 2018 | $ 96,487 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | Sep. 30, 2018$ / sharesshares | |
Stock Issued During Period, Shares, Acquisitions | shares | 161,875 | 161,875 |
Business Acquisition, Share Price | $ / shares | $ 42.80 | $ 42.80 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) shares in Thousands, $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 6,697 | $ 7,075 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
Origination of loans for sale | (41,823) | (31,599) |
Sale of loans originated for sale | 39,953 | 32,659 |
Depreciation and amortization, net of accretion | 1,902 | 1,906 |
Amortization of mortgage servicing rights | 48 | 48 |
Stock based compensation expense | 154 | 142 |
Net surrender value of restricted stock awards | (72) | 0 |
Gain on sale of securities, net | (1,155) | (758) |
Gain on sale of loans held-for-sale, net | (1,021) | (883) |
Gain on sale of foreclosed real estate, net | (154) | (95) |
Provision for loan losses | 950 | 722 |
Net change in: | ||
Interest receivable | (298) | 65 |
Other assets | (345) | (538) |
Accrued expenses and other liabilities | (2,544) | 372 |
Total adjustments | (4,405) | 2,041 |
Net cash - operating activities | 2,292 | 9,116 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities of certificates of deposits in other financial institutions | 1,150 | 0 |
Proceeds from maturities and pay downs of securities available-for-sale | 17,747 | 18,887 |
Proceeds from sales of securities available-for-sale | 29,049 | 48,063 |
Purchase of securities available-for-sale | (48,464) | (73,503) |
Loan participations purchased | 0 | (362) |
Net change in loans receivable | (28,385) | (25,260) |
Purchase of Federal Home Loan Bank Stock | (17) | 0 |
Purchase of premises and equipment, net | (624) | (1,373) |
Proceeds from sale of foreclosed real estate, net | 1,273 | 902 |
Cash and cash equivalents from acquisition activity | 26,950 | 0 |
Cash paid for acquisition | (8,689) | 0 |
Change in cash value of bank owned life insurance | (358) | (349) |
Net cash - investing activities | (10,368) | (32,995) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | (15,180) | (22,211) |
Proceeds from FHLB advances | 62,000 | 7,000 |
Repayment of FHLB advances | (44,000) | (8,000) |
Change in other borrowed funds | 10,718 | 18,541 |
Dividends paid | (2,523) | (2,432) |
Net cash - financing activities | 11,015 | (7,102) |
Net change in cash and cash equivalents | 2,939 | (30,981) |
Cash and cash equivalents at beginning of period | 11,025 | 45,109 |
Cash and cash equivalents at end of period | 13,964 | 14,128 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 3,258 | 1,832 |
Income taxes | 1,080 | 1,355 |
Acquisition activity: | ||
Fair value of assets acquired, including cash and cash equivalents | 137,449 | 0 |
Value of goodwill and other intangible assets | 8,481 | 0 |
Fair value of liabilities assumed | 130,313 | 0 |
Cash paid for acquisition | $ 8,689 | $ 0 |
Issuance of common stock for acquisition | 6,928 | 0 |
Noncash activities: | ||
Transfers from loans to foreclosed real estate | $ 253 | $ 51 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting [Text Block] | Note 1 - Basis of Presentation The consolidated financial statements include the accounts of NorthWest Indiana Bancorp (the “Bancorp” or “NWIN”), its wholly-owned subsidiaries NWIN Risk Management, Inc. (a captive insurance subsidiary) and Peoples Bank SB (the “Bank”), and the Bank’s wholly-owned subsidiaries, Peoples Service Corporation, NWIN, LLC, NWIN Funding, Incorporated, and Columbia Development Company, LLC. The Bancorp’s business activities include being a holding company for the Bank as well as a holding company for NWIN Risk Management, Inc. The Bancorp’s earnings are primarily dependent upon the earnings of the Bank. The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures required by U.S. generally accepted accounting principles for complete presentation of consolidated financial statements. In the opinion of management, the consolidated financial statements contain all adjustments necessary to present fairly the consolidated balance sheets of the Bancorp as of September 30, 2018 and December 31, 2017, and the consolidated statements of income, comprehensive income, and changes in stockholders’ equity for the three and nine months ended September 30, 2018 and 2017 and consolidated statements of cash flows for the nine months ended September 30, 2018 and 2017. The income reported for the nine month period ended September 30, 2018 is not necessarily indicative of the results to be expected for the full year. |
Use of Estimates
Use of Estimates | 9 Months Ended |
Sep. 30, 2018 | |
Use of Estimates [Abstract] | |
Use of Estimates [Text Block] | Note 2 - Use of Estimates Preparing financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period, as well as the disclosures provided. Actual results could differ from those estimates. Estimates associated with the allowance for loan losses, fair values of foreclosed real estate, loan servicing rights, investment securities, deferred tax assets, goodwill, and the status of contingencies are particularly susceptible to material change in the near term. |
Acquisition Activity
Acquisition Activity | 9 Months Ended |
Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Note 3 - Acquisition Activity On July 26, 2018 , the Bancorp completed its previously announced acquisition of First Personal Financial Corp., a Delaware corporation (“First Personal”) pursuant to an Agreement and Plan of Merger dated February 20, 2018 (the “First Personal Merger Agreement”) between NWIN and First Personal. Pursuant to the terms of the First Personal Merger Agreement, First Personal merged with and into NWIN, with NWIN as the surviving corporation (the “First Personal Merger”). Simultaneous with the First Personal Merger, First Personal Bank, an Illinois state chartered commercial bank and wholly-owned subsidiary of First Personal, merged with and into Peoples Bank SB (“Peoples Bank”), with Peoples Bank as the surviving bank. In connection with the First Personal Merger, each First Personal stockholder holding 100 or more shares of First Personal common stock received fixed consideration of (i) 0.1246 shares of NWIN common stock, and (ii) $ 6.67 per share in cash for each outstanding share of First Personal’s common stock. Stockholders holding less than 100 shares of First Personal common stock received $ 12.12 in cash and no stock consideration for each outstanding share of First Personal common stock. Any fractional shares of NWIN common stock that a First Personal stockholder would have otherwise received in the First Personal Merger were cashed out in the amount of such fraction multiplied by $ 42.95 . NWIN issued a total of 161,875 shares of NWIN common stock to the former First Personal stockholders, and paid cash consideration of approximately $ 8.7 million. Based upon the closing price of NWIN common stock on July 25, 2018 , the transaction had an implied valuation of approximately $ 15.6 million. As of the closing date of the First Personal Merger, First Personal reported total assets of $ 138.9 million, total loans of $ 98.0 million, and total deposits of $ 125.1 million. Additionally, upon the closing of the merger the three former First Personal Bank branches in Cook County, Illinois became branches of Peoples Bank, thereby expanding the Peoples Bank branch network into Illinois. Consideration paid for the First Personal acquisition included $ 8.7 6.9 $ 140.5 94.6 $ 130.3 $ 124.9 of $ 5.4 million. Final estimates of fair value on the date of acquisition have not been yet. Prior to the end of the one year measurement period for finalizing the purchase price allocation, if information becomes available which would indicate adjustments are required to the purchase price allocation, such adjustments will be included in the purchase price allocation prospectively. If any adjustments are made to the preliminary assumptions (provisional amounts), disclosures will be made in the notes to the financial statements of the amounts recorded in the current period earnings by line item that have been recorded in previous reporting periods if the adjustments to the provisional amounts had been recognized as of the acquisition date. On July 30, 2018 , NorthWest Indiana Bancorp entered into an Agreement and Plan of Merger (the “AJSB Merger Agreement”) with AJS Bancorp, Inc., a Maryland corporation (“AJSB”). Pursuant to the AJSB Merger Agreement, AJSB will merge with and into NWIN, with NWIN as the surviving corporation (the “AJSB Merger”). Simultaneously with the AJSB Merger, A.J. Smith Federal Savings Bank, a federally chartered savings bank and wholly-owned subsidiary of AJSB (“ AJS Bank”), will merge with and into Peoples Bank SB, with Peoples Bank as the surviving bank. The boards of directors of each of NWIN and AJSB have approved the AJSB Merger and the AJSB Merger Agreement. Subject to the approval of the AJSB Merger by AJSB’s stockholders, regulatory approvals, and other customary closing conditions, the parties anticipate completing the AJSB Merger early in the first quarter of 2019 . Upon completion of the AJSB Merger, each AJSB stockholder who holds 100 or more shares of AJSB common stock will have the right to receive fixed consideration of (i) 0.2030 shares of NWIN common stock, and (ii) $ 7.20 per share in cash for each outstanding share of AJSB’s common stock, subject to adjustment as provided in the AJSB Merger Agreement. Stockholders holding less than 100 shares of AJSB common stock will have the right to receive $ 16.00 in cash and no stock consideration for each outstanding share of AJSB common stock. AJSB has a home office and two branch offices in Cook County, Illinois. As of September 30, 2018, AJS Bank reported total assets of $ 182.9 million, total loans of $ 96.8 million, and total deposits of $ 153.5 million. The combined bank is expected to have approximately $ 1.3 billion in total assets, $ 839.0 million in total loans, and $ 1.1 billion in deposits. The acquisition will further expand the Bank’s banking center network in Cook County, Illinois. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4 – Securities The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows: (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair September 30, 2018 Basis Gains Losses Value Money market fund $ 2,018 $ - $ - $ 2,018 U.S. government sponsored entities 9,997 - (229 ) 9,768 Collateralized mortgage obligations and residential mortgage-backed securities 137,628 7 (4,965 ) 132,670 Municipal securities 92,519 446 (1,549 ) 91,416 Collateralized debt obligations 3,494 - (1,295 ) 2,199 Total securities available-for-sale $ 245,656 $ 453 $ (8,038 ) $ 238,071 (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 The estimated fair value of available-for-sale debt securities at September 30, 2018, by contractual maturity, were as follows. Securities not due at a single maturity date, primarily collateralized mortgage obligations and residential mortgage-backed securities, are shown separately. (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent September 30, 2018 Value Yield (%) Due in one year or less $ 2,689 5.48 Due from one to five years 8,580 3.18 Due from five to ten years 16,972 4.03 Due over ten years 77,160 4.09 Collateralized mortgage obligations and residential mortgage-backed securities 132,670 2.76 Total $ 238,071 3.32 Sales of available-for-sale securities were as follows for the nine months ended: (Dollars in thousands) September 30, September 30, 2018 2017 Proceeds $ 29,049 $ 48,063 Gross gains 1,159 848 Gross losses (4 ) (90 ) Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows: (Dollars in thousands) Unrealized gain/(loss) Ending balance, December 31, 2017 $ 684 Current period change (6,676 ) Ending balance, September 30, 2018 $ (5,992 ) Securities with carrying values of approximately $13.4 million and $21.2 million were pledged as of September 30, 2018 and December 31, 2017, respectively, as collateral for repurchase agreements, public funds, and for other purposes as permitted or required by law. Securities with gross unrealized losses at September 30, 2018 and December 31, 2017 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 September 30, 2018 Value Losses Value Losses Value Losses U.S. government sponsored entities $ 3,812 $ (185 ) $ 5,956 $ (44 ) $ 9,768 $ (229 ) Collateralized mortgage obligations and residential mortgage-backed securities 61,506 (3,133 ) 70,448 (1,832 ) 131,954 (4,965 ) Municipal securities 1,683 (177 ) 51,144 (1,372 ) 52,827 (1,549 ) Collateralized debt obligations - - 2,199 (1,295 ) 2,199 (1,295 ) Total temporarily impaired $ 67,001 $ (3,495 ) $ 129,747 $ (4,543 ) $ 196,748 $ (8,038 ) Number of securities 52 128 180 (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 Unrealized losses on securities have not been recognized into income because the securities are of high credit quality or have undisrupted cash flows. Management has the intent and ability to hold those securities for the foreseeable future, and the decline in fair value is largely due to changes in interest rates and volatility in securities markets. The fair values are expected to recover as the securities approach maturity. |
Loans Receivable
Loans Receivable | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5 - Loans Receivable Loans receivable are summarized below: (Dollars in thousands) September 30, 2018 December 31, 2017 Loans secured by real estate: Residential real estate 221,054 172,780 Home equity 43,175 36,718 Commercial real estate 243,304 211,090 Construction and land development 54,755 50,746 Farmland 242 - Multifamily 45,752 43,369 Total loans secured by real estate 608,282 514,703 Consumer 5,633 460 Commercial business 102,820 77,122 Government 25,763 28,785 Subtotal 742,498 621,070 Less: Net deferred loan origination fees (188 ) (130 ) Undisbursed loan funds (78 ) (729 ) Loans receivable $ 742,232 $ 620,211 (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 three months ended September 30, 2018: Allowance for loan losses: Residential real estate $ 1,523 $ (30 ) - $ 82 $ 1,575 Home equity 183 - - 10 193 Commercial real estate 3,170 - 22 48 3,240 Construction and land development 611 - - (32 ) 579 Multifamily 607 - - (150 ) 457 Farmland 4 - - (1 ) 3 Consumer 36 (19 ) 8 298 323 Commercial business 1,264 - 8 61 1,333 Government 50 - - (4 ) 46 Total $ 7,448 $ (49 ) $ 38 $ 312 $ 7,749 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three months ended September 30, 2017: Allowance for loan losses: Residential real estate $ 1,561 $ (10 ) $ 3 $ 17 $ 1,571 Home equity 76 (35 ) - 41 82 Commercial real estate 2,890 - - 28 2,918 Construction and land development 600 - - (30 ) 570 Multifamily 501 - - 40 541 Farmland - - - - - Consumer 30 (29 ) 7 22 30 Commercial business 1,357 (120 ) 5 49 1,291 Government 58 - - (2 ) 56 Total $ 7,073 $ (194 ) $ 15 $ 165 $ 7,059 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the nine months ended September 30, 2018: Allowance for loan losses: Residential real estate $ 1,568 $ (136 ) $ - $ 143 $ 1,575 Home equity 166 (24 ) - 51 193 Commercial real estate 3,125 (119 ) 24 210 3,240 Construction and land development 618 - - (39 ) 579 Multifamily 622 - - (165 ) 457 Farmland - - - 3 3 Consumer 31 (41 ) 17 316 323 Commercial business 1,298 (529 ) 125 439 1,333 Government 54 - - (8 ) 46 Total $ 7,482 $ (849 ) $ 166 $ 950 $ 7,749 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the nine months ended September 30, 2017: Allowance for loan losses: Residential real estate $ 2,111 $ (913 ) $ 3 $ 370 $ 1,571 Home equity 299 (60 ) - (157 ) 82 Commercial real estate 3,113 - - (195 ) 2,918 Construction and land development 617 - - (47 ) 570 Multifamily 572 - - (31 ) 541 Consumer 34 (59 ) 11 44 30 Commercial business 896 (365 ) 22 738 1,291 Government 56 - - - 56 Total $ 7,698 $ (1,397 ) $ 36 $ 722 $ 7,059 The Bancorp's impairment analysis is summarized below: Ending Balances (Dollars in thousands) Individually evaluated for impairment reserves Collectively evaluated for impairment reserves Loan receivables Individually evaluated for impairment Purchased credit impaired individually evaluated for impairment Collectively evaluated for impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at September 30, 2018: Residential real estate $ 20 $ 1,555 $ 220,862 $ 536 $ 1,095 $ 219,231 Home equity 9 184 43,234 147 123 42,964 Commercial real estate 278 2,962 243,304 1,804 1,605 239,895 Construction and land development - 579 54,755 - - 54,755 Multifamily - 457 45,752 - - 45,752 Farmland - 3 242 - - 242 Consumer - 323 5,633 - - 5,633 Commercial business 69 1,264 102,687 473 1,436 100,778 Government - 46 25,763 - - 25,763 Total $ 376 $ 7,373 $ 742,232 $ 2,960 $ 4,259 $ 735,013 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 Farmland - - - - - - Consumer - 31 461 - - 461 Commercial business 539 759 76,851 724 - 76,127 Government - 54 28,785 - - 28,785 Total $ 704 $ 6,778 $ 620,211 $ 1,832 $ 690 $ 617,689 The Bancorp's credit quality indicators are summarized below at September 30, 2018 and December 31, 2017: Credit Exposure - Credit Risk Portfolio By Creditworthiness Category September 30, 2018 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 143 $ 55,619 $ 99,366 $ 8,920 $ 47,779 $ 4,685 $ 4,350 $ 220,862 Home equity 108 4,552 37,472 - 126 544 432 43,234 Commercial real estate - 6,133 80,598 102,712 46,018 5,972 1,871 243,304 Construction and land development - 330 22,127 22,895 9,403 - - 54,755 Multifamily - 574 19,575 23,686 1,763 154 - 45,752 Farmland - - - - 242 - - 242 Commercial business 9,872 22,398 22,229 31,540 12,724 3,144 780 102,687 Consumer 794 3,007 678 221 913 20 - 5,633 Government - 2,111 18,707 4,945 - - - 25,763 Total $ 10,917 $ 94,724 $ 300,752 $ 194,919 $ 118,968 $ 14,519 $ 7,433 $ 742,232 December 31, 2017 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 887 $ 12,317 $ 92,241 $ 8,759 $ 50,075 $ 4,130 $ 3,732 $ 172,141 Home equity - 1,065 34,871 - 250 233 350 36,769 Commercial real estate - 2,372 79,847 81,547 40,054 6,758 512 211,090 Construction and land development - - 20,719 19,583 10,310 - 134 50,746 Multifamily - - 20,159 20,965 2,076 168 - 43,368 Farmland - - - - - - - - Commercial business 7,169 17,202 16,784 21,087 13,041 394 1,174 76,851 Consumer - 131 330 - - - - 461 Government - 2,318 20,202 6,265 - - - 28,785 Total $ 8,056 $ 35,405 $ 285,153 $ 158,206 $ 115,806 $ 11,683 $ 5,902 $ 620,211 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 these 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. Performing loans are loans that are paying as agreed and are approximately less than ninety days past due on payments of interest and principal. During the first nine months of 2018, three commercial business loans totaling $355 thousand, three commercial real estate loans totaling $935 thousand, two residential real estate loans totaling $114 thousand and five home equity loans totaling $149 thousand were modified as a troubled debt restructuring. No troubled debt restructurings have subsequently defaulted during the periods presented. 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 nine months ended As of September 30, 2018 September 30, 2018 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,518 $ 3,922 $ - $ 1,208 $ 61 Home equity 212 219 - 87 1 Commercial real estate 2,772 3,471 - 1,114 46 Construction and land development - - - 67 - Multifamily - - - - - Farmland - - - - - Commercial business 1,831 2,091 - 651 20 Consumer - - - - - Government - - - - - With an allowance recorded: Residential real estate 113 113 20 114 4 Home equity 58 58 9 29 - Commercial real estate 637 637 278 280 3 Construction and land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 78 78 69 159 1 Consumer - - - - - Government - - - - - Total: Residential real estate $ 1,631 $ 4,035 $ 20 $ 1,322 $ 65 Home equity $ 270 $ 277 $ 9 $ 116 $ 1 Commercial real estate $ 3,409 $ 4,108 $ 278 $ 1,394 $ 49 Construction & land development $ - $ - $ - $ 67 $ - Multifamily $ - $ - $ - $ - $ - Farmland $ - $ - $ - $ - $ - Commercial business $ 1,909 $ 2,169 $ 69 $ 810 $ 21 Consumer $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - For the nine months ended As of December 31, 2017 September 30, 2017 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,072 $ 3,351 $ - $ 1,302 $ 48 Home equity - - - - - Commercial real estate 253 253 - 361 4 Construction and land development 134 134 - 134 - Multifamily - - - - - Commercial business 184 184 - 201 3 With an allowance recorded: Residential real estate 80 270 21 300 1 Home equity - - - - - Commercial real estate 259 259 144 139 - Construction & land development - - - - - Multifamily - - - - - Commercial business 540 540 539 481 4 Total: Residential real estate $ 1,152 $ 3,621 $ 21 $ 1,602 $ 49 Home equity $ - $ - $ - $ - $ - Commercial real estate $ 512 $ 512 $ 144 $ 500 $ 4 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 724 $ 724 $ 539 $ 682 $ 7 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 September 30, 2018, total purchased credit impaired loans with unpaid principal balances totaled $7.6 million with a recorded investment of $4.3 million. At December 31, 2017, purchased credit impaired loans with unpaid principal balances totaled $2.6 million with a recorded investment of $690 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 September 30, 2018 Residential real estate $ 2,329 $ 1,518 $ 3,942 $ 7,789 $ 213,073 $ 220,862 $ 885 Home equity 225 183 164 572 42,662 43,234 50 Commercial real estate - 352 680 1,032 242,272 243,304 - Construction and land development - - - - 54,755 54,755 - Multifamily - 154 - 154 45,598 45,752 - Farmland - - - - 242 242 - Commercial business 1,397 184 207 1,788 100,899 102,687 - Consumer 52 20 - 72 5,561 5,633 - Government - - - - 25,763 25,763 - Total $ 4,003 $ 2,411 $ 4,993 $ 11,407 $ 730,825 $ 742,232 $ 935 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 - Farmland - - - - - - - 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 The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) September 30, 2018 December 31, 2017 Residential real estate $ 3,861 $ 3,509 Home equity 328 350 Commercial real estate 768 332 Construction and land development - 133 Multifamily - - Farmland - - Commercial business 514 672 Consumer - - Government - - Total $ 5,471 $ 4,996 For the acquisitions of First Federal Savings & Loan (“First Federal”), Liberty Savings Bank (“Liberty Savings”), and First Personal Bank (“First Personal”), as part of the fair value of loans receivable, a net fair value discount was established for loans as summarized below: (dollars in thousands) First Federal Liberty Savings First Personal Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period in months Residential real estate $ 1,100 55 $ 1,200 44 $ 948 56 Home equity - - - - 51 50 Commercial real estate - - - - 208 56 Construction and land development - - - - 1 30 Multifamily - - - - 11 48 Consumer - - - - 146 50 Commercial business - - - - 348 24 Purchased credit impaired loans - - - - 424 32 Total $ 1,100 $ 1,200 $ 2,137 Accretable yield, or income collected for the nine months ended September 30, is as follows: (dollars in thousands) First Federal Liberty Savings First Personal Total 2017 $ 112 $ 239 $ - $ 351 2018 105 200 114 419 Accretable yield, or income expected to be collected is as follows: (dollars in thousands) First Federal Liberty Savings First Personal Total Remainder 2018 $ 33 $ 65 $ 157 $ 255 2019 22 43 627 692 2020 - - 554 554 2021 - - 335 335 2022 - - 283 283 2023 - - 67 67 Total $ 55 $ 108 $ 2,023 $ 2,186 |
Foreclosed Real Estate
Foreclosed Real Estate | 9 Months Ended |
Sep. 30, 2018 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | |
Real Estate Disclosure [Text Block] | Note 6 - Foreclosed Real Estate Foreclosed real estate at period-end is summarized below: ( Dollars in thousands ) September 30, 2018 December 31, 2017 Residential real estate $ 1,311 $ 914 Commercial real estate 126 97 Construction and land development 468 468 Commercial business 220 220 Total $ 2,125 $ 1,699 |
Intangibles and Acquisition Rel
Intangibles and Acquisition Related Accounting | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 – Intangibles and Acquisition Related Accounting The Bancorp established a goodwill balance totaling $8.2 million with the acquisitions of First Personal, First Federal and Liberty Savings. Goodwill of $5.4 million, $2.0 million, and $804 thousand were established with the acquisition of First Personal, First Federal, and Liberty Savings, respectively. 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. Goodwill totaled $8.2 million and $2.8 million as of September 30, 2018 and December 31, 2017, respectively. 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. 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. A core deposit intangible of $3.0 million for the acquisition of First Personal was established and is being amortized over 6.4 years on a straight line basis. The table below summarizes the annual amortization: (dollars in thousands) First Federal Liberty Savings First Personal Total Current period $ 8 $ 38 $ 79 $ 125 Remainder 2018 4 20 119 143 2019 12 58 475 545 2020 12 58 475 545 2021 12 58 475 545 2022 1 58 475 534 2023 - 38 475 513 2024 - - 470 470 Total $ 49 $ 328 $ 3,043 $ 3,420 For the First Personal acquisition, as part of the fair value of certificates of deposit, a fair value premium was established of $133 thousand that is being amortized over 8 months on a straight line basis. Approximately $32 thousand of amortization was taken as expense during the nine months ended September 30, 2018. It is estimated that an additional $48 thousand of amortization will occur during 2018 and an additional $53 thousand of amortization will occur during 2019. As part of the First Personal acquisition, the Bancorp acquired First Personal Statutory Trust I. NWIN guarantees the payment of distributions on the trust preferred securities issued by First Personal Statutory Trust I. First Personal Statutory Trust I issued $4.124 million in trust preferred securities in May 2004. The trust preferred securities carry a variable rate of interest priced at the three-month LIBOR plus 275 basis points, payable quarterly and maturing on June 17, 2034. Proceeds from the issuance of these securities were used to purchase junior subordinated debentures with the same financial terms as the trust preferred securities issued by First Personal Statutory Trust I. Management of the Bancorp has determined that the continued maintenance of the trust preferred securities issued by First Personal Statutory Trust I and the corresponding junior subordinated debentures are unnecessary to the Bancorp’s ongoing operations. As a result, the Bancorp’s board of directors has approved the redemption of the junior subordinated debentures, which also will result in the trustee of the First Personal Statutory Trust I redeeming all $4.124 million of the trust preferred securities. The junior subordinated debentures and trust preferred securities will be redeemed on or before December 31, 2018, and therefore, the fair value of the trust preferred securities approximated their carrying value. |
Concentrations of Credit Risk
Concentrations of Credit Risk | 9 Months Ended |
Sep. 30, 2018 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | Note 8 - Concentrations of Credit Risk The primary lending area of the Bancorp encompasses Lake County in northwest Indiana and Cook County in northeast Illinois, where collectively a majority of loan activity is concentrated. The Bancorp is also an active lender in Porter County, and to a lesser extent, LaPorte, Newton and Jasper counties in Indiana; and Lake and Will counties in Illinois. Substantially all loans are secured by specific items of collateral including residences, commercial real estate, land development, business assets and consumer assets. |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share [Text Block] | Note 9 - Earnings per 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 and diluted earnings per common share computations for the three and nine months ended September 30, 2018 and 2017 are as follows: Three Months Ended Nine Months Ended (Dollars in thousands, except per share data) September 30, September 30, 2018 2017 2018 2017 Basic earnings per common share: Net income as reported $ 1,625 $ 2,248 $ 6,697 $ 7,075 Weighted average common shares outstanding 3,029,369 2,864,007 2,922,271 2,863,806 Basic earnings per common share $ 0.54 $ 0.78 $ 2.29 $ 2.47 Diluted earnings per common share: Net income as reported $ 1,625 $ 2,248 $ 6,697 $ 7,075 Weighted average common shares outstanding 3,029,369 2,864,007 2,922,271 2,863,806 Add: Dilutive effect of assumed stock option exercises - 155 - 147 Weighted average common and dilutive potential common shares outstanding 3,029,369 2,864,162 2,922,271 2,863,953 Diluted earnings per common share $ 0.54 $ 0.78 $ 2.29 $ 2.47 |
Stock Based Compensation
Stock Based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 10 - Stock Based Compensation The Bancorp’s 2015 Stock Option and Incentive Plan (the Plan), which was adopted by the Bancorp’s Board of Directors on February 27, 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 Plan may be in the form of incentive stock options, non-qualified stock options, restricted stock, unrestricted stock, performance shares, or performance units. As required by the Stock Compensation Topic, companies are required to record compensation cost for stock options and awards provided to employees in return for employment service. For the nine months ended September 30, 2018, stock based compensation expense of $154 thousand was recorded, compared to $142 thousand for the nine months ended September 30, 2017. It is anticipated that current outstanding unvested awards will result in additional compensation expense of approximately $441 thousand through 2022 with an additional $50 thousand in 2018, $184 thousand in 2019, $150 thousand in 2020, $54 thousand in 2021 and $3 thousand in 2022. There were no incentive stock options granted during the first nine months of 2018 or 2017. When options are granted, the cost is measured at the fair value of the options when granted, and this cost is expensed over the employment service period, which is normally the vesting period of the options or awards. At September 30, 2018, there were no outstanding incentive stock options. There were 4,433 shares of restricted stock granted during the first nine months of 2018 compared to 4,575 shares granted during the first nine months of 2017. Restricted stock awards are issued with an award price equal to the market price of the Bancorp’s common stock on the award date and vest between three and five years after the grant date. Forfeiture provisions exist for personnel that separate employment before the vesting period expires. A summary of restricted stock activity under the Bancorp’s incentive stock option and incentive plans described above for the year ended December 31, 2017 and nine months ended September 30, 2018 follows: Weighted Average Grant Date Non-vested Shares Shares Fair Value Non-vested at January 1, 2017 28,465 $ 26.67 Granted 4,575 39.00 Vested (1,625 ) 25.81 Forfeited (725 ) 28.62 Non-vested at December 31, 2017 30,690 $ 28.51 Non-vested at January 1, 2018 30,690 $ 28.51 Granted 4,433 43.50 Vested (7,700 ) 22.64 Forfeited - - Non-vested at September 30, 2018 27,423 $ 32.58 |
Change in Accounting Principles
Change in Accounting Principles | 9 Months Ended |
Sep. 30, 2018 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Note 11 – Change in Accounting Principles In May 2014, FASB issued Accounting Standards Update (ASU) No. 2014-09 and ASU 2015-14, Revenue from Contracts with Customers (Topic 606) , superseding the current revenue recognition requirements in Topic 605, Revenue Recognition. The ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new guidance is effective for the Bancorp's year ending December 31, 2018 and has been adopted as of January 1, 2018. The use of the modified retrospective approach has been used for implementing this standard. Interest income is outside of the scope of the new standard and was not impacted by the adoption of the standard. Management mapped noninterest income accounts to their associated income streams and applied the five step model to identify the contract, identify the performance obligations in the contract, determine the total transaction price, allocate the transaction price to each performance obligation, and ensure revenue is recognized when the performance obligation is satisfied. A review of the Bancorp’s noninterest income has not resulted in a change in revenue recognition since adoption. In January 2016, FASB issued Accounting Standards Update (ASU) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities . The ASU covers various changes to the accounting, measurement, and disclosures related to certain financial instruments, including requiring equity investments to be accounted for at fair value with changes recorded through earnings, the use of the exit price when measuring fair value, and disaggregation of financial assets and liabilities by category for disclosure purposes. The new guidance is effective for the Bancorp's year ending December 31, 2018 and was adopted on January 1, 2018. The adoption of this ASU has not had a material impact on the consolidated financial statements, as the Bancorp does not hold any equity securities with unrealized gains or losses. The new reporting requirements have been incorporated into the fair value of financial instruments table and disclosures. In March 2016, FASB issued ASU No. 2016-09: Compensation—Stock Compensation (Topic 718)—Improvements to Employee Share-Based Payment Accounting . This ASU seeks to reduce complexity in accounting standards. The areas for simplification in ASU No. 2016-09, identified through outreach for the Simplification Initiative, pre-agenda research for the Private Company Council, and the August 2014 Post-Implementation Review Report on FASB Statement No. 123(R), Share-Based Payment, involve several aspects of the accounting for share-based payment transactions, including (1) accounting for income taxes, (2) classification of excess tax benefits on the statement of cash flow, (3) forfeitures; (4) minimum statutory tax withholding requirements, (5) classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax withholding purposes, (6) the practical expedient for estimating the expected term, and (7) intrinsic value. The Bancorp adopted this ASU during 2017, and the adoption of this ASU has not had a material impact on the consolidated financial statements. |
Upcoming Accounting Standards
Upcoming Accounting Standards | 9 Months Ended |
Sep. 30, 2018 | |
Upcoming Accounting Standards [Abstract] | |
Upcoming Accounting Standards [Text Block] | Note 12 - Upcoming Accounting Standards In February 2016, FASB issued ASU No. 2016-02, Lease s, which will supersede the current lease requirements in ASC 840. The ASU requires lessees to recognize a right-of-use asset and related lease liability for all leases, with a limited exception for short-term leases. Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition in the statement of operations. Currently, leases are classified as either capital or operating, with only capital leases recognized on the balance sheet. The reporting of lease-related expenses in the statements of operations and cash flows will be generally consistent with the current guidance. The new lease guidance will be effective for the Bancorp's year ending December 31, 2019 and will be applied using a modified retrospective transition method to the beginning of the earliest period presented. Management does not believe the adoption of this update will have a material effect on the Bancorp’s consolidated financial statements, as the Bancorp does not engage in the leasing of property or in leasing of any significant furniture, fixtures, equipment, or software. In June 2016, FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments . The ASU includes increased disclosures and various changes to the accounting and measurement of financial assets including the Bancorp’s loans and available-for-sale and held-to-maturity debt securities. Each financial asset presented on the balance sheet would have a unique allowance for credit losses valuation account that is deducted from the amortized cost basis to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in this ASU also eliminate the probable initial recognition threshold in current GAAP and instead, reflect an entity’s current estimate of all expected credit losses using reasonable and supportable forecasts. The new credit loss guidance will be effective for the Bancorp's year ending December 31, 2020. Upon adoption, the ASU will be applied using a modified retrospective transition method to the beginning of the first reporting period in which the guidance is effective. A prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. Early adoption for all institutions is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is in the process of evaluating the impact adoption of this update will have on the Bancorp’s consolidated financial statements. This process of evaluation has engaged multiple areas of the Bancorp’s management in discussing loss estimation methods and the application of these methods to specific segments of the loans receivable portfolio. Given the amount of time left to adoption, the appropriateness of the loss estimation methods chosen, and the continuing development of understanding of application, additional time is needed to fully understand how this ASU will impact the Bancorp’s financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . This Standard simplifies the manner in which an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. In computing the implied fair value of goodwill under Step 2, an entity, prior to the amendments in ASU No. 2017-04, had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities, including unrecognized assets and liabilities, in accordance with the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. However, under the amendments in this ASU, an entity should (1) perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and (2) recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, with the understanding that the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, ASU No. 2017-04 removes the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails such qualitative test, to perform Step 2 of the goodwill impairment test. Finally, this ASU amends the Overview and Background sections of the Accounting Standards Codification as part of the FASB’s initiative to unify and improve such sections across Topics and Subtopics. The new guidance will be effective for the Company’s year ending December 31, 2020. In March 2017, the FASB issued ASU 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . This Standard amends the amortization period for certain purchased callable debt securities held at a premium. In particular, the amendments in this ASU require the premium to be amortized to the earliest call date. The amendments do not, however, require an accounting change for securities held at a discount; instead, the discount continues to be amortized to maturity. The amendments in this ASU more closely align the amortization period of premiums and discounts to expectations incorporated in market pricing on the underlying securities. In fact, in most cases, market participants price securities to the call date that produces the worst yield when the coupon is above current market rates (i.e., the security is trading at a premium), and price securities to maturity when the coupon is below market rates (i.e., the security is trading at a discount), in anticipation that the borrower will act in its economic best interest. The new guidance will be effective for the Company’s year ending December 31, 2020. Management will recognize amortization expense as dictated by the amount of premiums and the differences between maturity and call dates at the time of adoption. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 13 - Fair Value The Fair Value Measurements 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: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. 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 a 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 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 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; 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 is 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 pooled trust preferred securities. The analysis is performed annually during December 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 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. Based on current market conditions and a review of the trustee reports, management performed an analysis of the pooled trust preferred securities and no additional impairment was taken at December 31, 2017. During the second quarter of 2018, upon management review, the Bancorp decided to review for trust preferred security impairment annually, a change from semi-annual review previously disclosed. A specialist will be used to review all pooled trust preferred securities again at December 31, 2018. The table below shows the credit loss roll forward on a year-to-date basis for the Bancorp’s pooled trust preferred securities that have been classified with other-than-temporary impairment: Collateralized debt obligations other-than-temporary (Dollars in thousands) impairment Ending balance, December 31, 2017 $ 271 Additions not previously recognized - Ending balance, September 30, 2018 $ 271 At September 30, 2018, trust preferred securities with a cost basis of $3.5 million continue to be in “payment in kind” status. These trust preferred securities classified as “payment in kind” are a result of not receiving the scheduled quarterly interest payments. For these trust preferred 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 on a consistent basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis There were no transfers to or from Levels 1 and 2 during the nine months ended September 30, 2018. Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurements at September 30, 2018 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 $ 2,018 $ 2,018 $ - $ - U.S. government sponsored entities 9,768 - 9,768 - Collateralized mortgage obligations and residential mortgage-backed securities 132,670 - 132,670 - Municipal securities 91,416 - 91,416 - Collateralized debt obligations 2,199 - - 2,199 Total securities available-for-sale $ 238,071 $ 2,018 $ 233,854 $ 2,199 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 A roll forward of available-for-sale securities, which require significant adjustment based on unobservable data, are presented in the following table: (Dollars in thousands) Estimated Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for- sale securities 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 Beginning balance, January 1, 2018 $ 3,439 Principal payments (38 ) Total unrealized gains, included in other comprehensive income 101 Sale out of Level 3 (1,303 ) Ending balance, September 30, 2018 $ 2,199 Assets measured at fair value on a non-recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at September 30, 2018 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 $ 6,843 $ - $ - $ 6,843 Foreclosed real estate 2,125 - - 2,125 (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 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 a present value of 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 in impaired loans was approximately $7.2 million and the related specific reserves totaled approximately $376 thousand, resulting in a fair value of impaired loans totaling approximately $6.8 million, at September 30, 2018. 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. 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. September 30, 2018 Estimated Fair Value Measurements at September 30, 2018 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 $ 13,964 $ 13,964 $ 13,964 $ - $ - Certificates of deposit in other financial institutions 3,754 3,673 - 3,673 - Securities available-for-sale 238,071 238,071 2,018 233,854 2,199 Loans held-for-sale 4,483 4,566 4,566 - - Loans receivable, net 734,483 717,640 - - 717,640 Federal Home Loan Bank stock 3,236 3,236 - 3,236 - Accrued interest receivable 3,560 3,560 - 3,560 - Financial liabilities: Non-interest bearing deposits 134,449 134,449 134,449 - - Interest bearing deposits 768,307 765,232 514,311 250,921 - Repurchase agreements 12,585 12,580 10,823 1,757 - Borrowed funds 48,314 48,698 13,766 34,932 - Interest rate swap agreements 111 111 - 111 - Accrued interest payable 110 110 - 110 - 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 - The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the period ended September 30, 2018: Cash and cash equivalents carrying amounts approximate fair value. Certificates of deposit 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 an exit price basis incorporating discounts for credit, liquidity, and marketability factors (Level 3). This is not comparable with the fair values disclosed for December 31, 2017, which were 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. Federal Home Loan Bank stock is estimated at book value due to restrictions that limit the sale or transfer of the security. Fair value of accrued interest receivable and payable approximates 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 quarter 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 (included in borrowed funds) 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. The following methods were used to estimate the fair value of financial instruments presented in the preceding table for the period ended December 31, 2017: Cash and cash equivalent carrying amounts approximate fair value. Certificates of deposit 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. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 were as follows: (Dollars in thousands) Gross Gross Estimated Cost Unrealized Unrealized Fair September 30, 2018 Basis Gains Losses Value Money market fund $ 2,018 $ - $ - $ 2,018 U.S. government sponsored entities 9,997 - (229 ) 9,768 Collateralized mortgage obligations and residential mortgage-backed securities 137,628 7 (4,965 ) 132,670 Municipal securities 92,519 446 (1,549 ) 91,416 Collateralized debt obligations 3,494 - (1,295 ) 2,199 Total securities available-for-sale $ 245,656 $ 453 $ (8,038 ) $ 238,071 (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 |
Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block] | The estimated fair value of available-for-sale debt securities at September 30, 2018, by contractual maturity, were as follows. Securities not due at a single maturity date, primarily collateralized mortgage obligations and residential mortgage-backed securities, are shown separately. (Dollars in thousands) Available-for-sale Estimated Fair Tax-Equivalent September 30, 2018 Value Yield (%) Due in one year or less $ 2,689 5.48 Due from one to five years 8,580 3.18 Due from five to ten years 16,972 4.03 Due over ten years 77,160 4.09 Collateralized mortgage obligations and residential mortgage-backed securities 132,670 2.76 Total $ 238,071 3.32 |
Schedule of Realized Gain (Loss) [Table Text Block] | Sales of available-for-sale securities were as follows for the nine months ended: (Dollars in thousands) September 30, September 30, 2018 2017 Proceeds $ 29,049 $ 48,063 Gross gains 1,159 848 Gross losses (4 ) (90 ) |
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 gain/(loss) Ending balance, December 31, 2017 $ 684 Current period change (6,676 ) Ending balance, September 30, 2018 $ (5,992 ) |
Unrealized Gain (Loss) on Investments [Table Text Block] | Securities with gross unrealized losses at September 30, 2018 and December 31, 2017 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 September 30, 2018 Value Losses Value Losses Value Losses U.S. government sponsored entities $ 3,812 $ (185 ) $ 5,956 $ (44 ) $ 9,768 $ (229 ) Collateralized mortgage obligations and residential mortgage-backed securities 61,506 (3,133 ) 70,448 (1,832 ) 131,954 (4,965 ) Municipal securities 1,683 (177 ) 51,144 (1,372 ) 52,827 (1,549 ) Collateralized debt obligations - - 2,199 (1,295 ) 2,199 (1,295 ) Total temporarily impaired $ 67,001 $ (3,495 ) $ 129,747 $ (4,543 ) $ 196,748 $ (8,038 ) Number of securities 52 128 180 (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 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable are summarized below: (Dollars in thousands) September 30, 2018 December 31, 2017 Loans secured by real estate: Residential real estate 221,054 172,780 Home equity 43,175 36,718 Commercial real estate 243,304 211,090 Construction and land development 54,755 50,746 Farmland 242 - Multifamily 45,752 43,369 Total loans secured by real estate 608,282 514,703 Consumer 5,633 460 Commercial business 102,820 77,122 Government 25,763 28,785 Subtotal 742,498 621,070 Less: Net deferred loan origination fees (188 ) (130 ) Undisbursed loan funds (78 ) (729 ) Loans receivable $ 742,232 $ 620,211 |
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 three months ended September 30, 2018: Allowance for loan losses: Residential real estate $ 1,523 $ (30 ) - $ 82 $ 1,575 Home equity 183 - - 10 193 Commercial real estate 3,170 - 22 48 3,240 Construction and land development 611 - - (32 ) 579 Multifamily 607 - - (150 ) 457 Farmland 4 - - (1 ) 3 Consumer 36 (19 ) 8 298 323 Commercial business 1,264 - 8 61 1,333 Government 50 - - (4 ) 46 Total $ 7,448 $ (49 ) $ 38 $ 312 $ 7,749 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the three months ended September 30, 2017: Allowance for loan losses: Residential real estate $ 1,561 $ (10 ) $ 3 $ 17 $ 1,571 Home equity 76 (35 ) - 41 82 Commercial real estate 2,890 - - 28 2,918 Construction and land development 600 - - (30 ) 570 Multifamily 501 - - 40 541 Farmland - - - - - Consumer 30 (29 ) 7 22 30 Commercial business 1,357 (120 ) 5 49 1,291 Government 58 - - (2 ) 56 Total $ 7,073 $ (194 ) $ 15 $ 165 $ 7,059 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the nine months ended September 30, 2018: Allowance for loan losses: Residential real estate $ 1,568 $ (136 ) $ - $ 143 $ 1,575 Home equity 166 (24 ) - 51 193 Commercial real estate 3,125 (119 ) 24 210 3,240 Construction and land development 618 - - (39 ) 579 Multifamily 622 - - (165 ) 457 Farmland - - - 3 3 Consumer 31 (41 ) 17 316 323 Commercial business 1,298 (529 ) 125 439 1,333 Government 54 - - (8 ) 46 Total $ 7,482 $ (849 ) $ 166 $ 950 $ 7,749 The Bancorp's activity in the allowance for loan losses, by loan segment, is summarized below for the nine months ended September 30, 2017: Allowance for loan losses: Residential real estate $ 2,111 $ (913 ) $ 3 $ 370 $ 1,571 Home equity 299 (60 ) - (157 ) 82 Commercial real estate 3,113 - - (195 ) 2,918 Construction and land development 617 - - (47 ) 570 Multifamily 572 - - (31 ) 541 Consumer 34 (59 ) 11 44 30 Commercial business 896 (365 ) 22 738 1,291 Government 56 - - - 56 Total $ 7,698 $ (1,397 ) $ 36 $ 722 $ 7,059 |
Individually Impaired Loans Receivables [Table Text Block] | The Bancorp's impairment analysis is summarized below: Ending Balances (Dollars in thousands) Individually evaluated for impairment reserves Collectively evaluated for impairment reserves Loan receivables Individually evaluated for impairment Purchased credit impaired individually evaluated for impairment Collectively evaluated for impairment The Bancorp's allowance for loan losses impairment evaluation and loan receivables are summarized below at September 30, 2018: Residential real estate $ 20 $ 1,555 $ 220,862 $ 536 $ 1,095 $ 219,231 Home equity 9 184 43,234 147 123 42,964 Commercial real estate 278 2,962 243,304 1,804 1,605 239,895 Construction and land development - 579 54,755 - - 54,755 Multifamily - 457 45,752 - - 45,752 Farmland - 3 242 - - 242 Consumer - 323 5,633 - - 5,633 Commercial business 69 1,264 102,687 473 1,436 100,778 Government - 46 25,763 - - 25,763 Total $ 376 $ 7,373 $ 742,232 $ 2,960 $ 4,259 $ 735,013 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 Farmland - - - - - - Consumer - 31 461 - - 461 Commercial business 539 759 76,851 724 - 76,127 Government - 54 28,785 - - 28,785 Total $ 704 $ 6,778 $ 620,211 $ 1,832 $ 690 $ 617,689 |
Financing Receivable Credit Quality Indicators [Table Text Block] | The Bancorp's credit quality indicators are summarized below at September 30, 2018 and December 31, 2017: Credit Exposure - Credit Risk Portfolio By Creditworthiness Category September 30, 2018 (Dollars in thousands) 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 143 $ 55,619 $ 99,366 $ 8,920 $ 47,779 $ 4,685 $ 4,350 $ 220,862 Home equity 108 4,552 37,472 - 126 544 432 43,234 Commercial real estate - 6,133 80,598 102,712 46,018 5,972 1,871 243,304 Construction and land development - 330 22,127 22,895 9,403 - - 54,755 Multifamily - 574 19,575 23,686 1,763 154 - 45,752 Farmland - - - - 242 - - 242 Commercial business 9,872 22,398 22,229 31,540 12,724 3,144 780 102,687 Consumer 794 3,007 678 221 913 20 - 5,633 Government - 2,111 18,707 4,945 - - - 25,763 Total $ 10,917 $ 94,724 $ 300,752 $ 194,919 $ 118,968 $ 14,519 $ 7,433 $ 742,232 December 31, 2017 2 3 4 5 6 7 8 Loan Segment Moderate Above average acceptable Acceptable Marginally acceptable Pass/monitor Special mention Substandard Total Residential real estate $ 887 $ 12,317 $ 92,241 $ 8,759 $ 50,075 $ 4,130 $ 3,732 $ 172,141 Home equity - 1,065 34,871 - 250 233 350 36,769 Commercial real estate - 2,372 79,847 81,547 40,054 6,758 512 211,090 Construction and land development - - 20,719 19,583 10,310 - 134 50,746 Multifamily - - 20,159 20,965 2,076 168 - 43,368 Farmland - - - - - - - - Commercial business 7,169 17,202 16,784 21,087 13,041 394 1,174 76,851 Consumer - 131 330 - - - - 461 Government - 2,318 20,202 6,265 - - - 28,785 Total $ 8,056 $ 35,405 $ 285,153 $ 158,206 $ 115,806 $ 11,683 $ 5,902 $ 620,211 |
Impaired Financing Receivables [Table Text Block] | The Bancorp's individually evaluated impaired loans are summarized below: For the nine months ended As of September 30, 2018 September 30, 2018 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,518 $ 3,922 $ - $ 1,208 $ 61 Home equity 212 219 - 87 1 Commercial real estate 2,772 3,471 - 1,114 46 Construction and land development - - - 67 - Multifamily - - - - - Farmland - - - - - Commercial business 1,831 2,091 - 651 20 Consumer - - - - - Government - - - - - With an allowance recorded: Residential real estate 113 113 20 114 4 Home equity 58 58 9 29 - Commercial real estate 637 637 278 280 3 Construction and land development - - - - - Multifamily - - - - - Farmland - - - - - Commercial business 78 78 69 159 1 Consumer - - - - - Government - - - - - Total: Residential real estate $ 1,631 $ 4,035 $ 20 $ 1,322 $ 65 Home equity $ 270 $ 277 $ 9 $ 116 $ 1 Commercial real estate $ 3,409 $ 4,108 $ 278 $ 1,394 $ 49 Construction & land development $ - $ - $ - $ 67 $ - Multifamily $ - $ - $ - $ - $ - Farmland $ - $ - $ - $ - $ - Commercial business $ 1,909 $ 2,169 $ 69 $ 810 $ 21 Consumer $ - $ - $ - $ - $ - Government $ - $ - $ - $ - $ - For the nine months ended As of December 31, 2017 September 30, 2017 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Residential real estate $ 1,072 $ 3,351 $ - $ 1,302 $ 48 Home equity - - - - - Commercial real estate 253 253 - 361 4 Construction and land development 134 134 - 134 - Multifamily - - - - - Commercial business 184 184 - 201 3 With an allowance recorded: Residential real estate 80 270 21 300 1 Home equity - - - - - Commercial real estate 259 259 144 139 - Construction & land development - - - - - Multifamily - - - - - Commercial business 540 540 539 481 4 Total: Residential real estate $ 1,152 $ 3,621 $ 21 $ 1,602 $ 49 Home equity $ - $ - $ - $ - $ - Commercial real estate $ 512 $ 512 $ 144 $ 500 $ 4 Construction & land development $ 134 $ 134 $ - $ 134 $ - Commercial business $ 724 $ 724 $ 539 $ 682 $ 7 |
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 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 September 30, 2018 Residential real estate $ 2,329 $ 1,518 $ 3,942 $ 7,789 $ 213,073 $ 220,862 $ 885 Home equity 225 183 164 572 42,662 43,234 50 Commercial real estate - 352 680 1,032 242,272 243,304 - Construction and land development - - - - 54,755 54,755 - Multifamily - 154 - 154 45,598 45,752 - Farmland - - - - 242 242 - Commercial business 1,397 184 207 1,788 100,899 102,687 - Consumer 52 20 - 72 5,561 5,633 - Government - - - - 25,763 25,763 - Total $ 4,003 $ 2,411 $ 4,993 $ 11,407 $ 730,825 $ 742,232 $ 935 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 - Farmland - - - - - - - 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 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | The Bancorp's loans on nonaccrual status are summarized below: (Dollars in thousands) September 30, 2018 December 31, 2017 Residential real estate $ 3,861 $ 3,509 Home equity 328 350 Commercial real estate 768 332 Construction and land development - 133 Multifamily - - Farmland - - Commercial business 514 672 Consumer - - Government - - Total $ 5,471 $ 4,996 |
Summary of Financing Receivables Acquired [Table Text Block] | For the acquisitions of First Federal Savings & Loan (“First Federal”), Liberty Savings Bank (“Liberty Savings”), and First Personal Bank (“First Personal”), as part of the fair value of loans receivable, a net fair value discount was established for loans as summarized below: (dollars in thousands) First Federal Liberty Savings First Personal Net fair value discount Accretable period in months Net fair value discount Accretable period in months Net fair value discount Accretable period in months Residential real estate $ 1,100 55 $ 1,200 44 $ 948 56 Home equity - - - - 51 50 Commercial real estate - - - - 208 56 Construction and land development - - - - 1 30 Multifamily - - - - 11 48 Consumer - - - - 146 50 Commercial business - - - - 348 24 Purchased credit impaired loans - - - - 424 32 Total $ 1,100 $ 1,200 $ 2,137 |
Summary of Accretable Yield from Acquired Financing Receivables [Table Text Block] | Accretable yield, or income collected for the nine months ended September 30, is as follows: (dollars in thousands) First Federal Liberty Savings First Personal Total 2017 $ 112 $ 239 $ - $ 351 2018 105 200 114 419 |
Summary of Future Accretable Yield from Acquired Financing Receivables [Table Text Block] | Accretable yield, or income expected to be collected is as follows: (dollars in thousands) First Federal Liberty Savings First Personal Total Remainder 2018 $ 33 $ 65 $ 157 $ 255 2019 22 43 627 692 2020 - - 554 554 2021 - - 335 335 2022 - - 283 283 2023 - - 67 67 Total $ 55 $ 108 $ 2,023 $ 2,186 |
Foreclosed Real Estate (Tables)
Foreclosed Real Estate (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | |
Schedule of Real Estate Properties [Table Text Block] | Foreclosed real estate at period-end is summarized below: ( Dollars in thousands ) September 30, 2018 December 31, 2017 Residential real estate $ 1,311 $ 914 Commercial real estate 126 97 Construction and land development 468 468 Commercial business 220 220 Total $ 2,125 $ 1,699 |
Intangibles and Acquisition R_2
Intangibles and Acquisition Related Accounting (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The table below summarizes the annual amortization: (dollars in thousands) First Federal Liberty Savings First Personal Total Current period $ 8 $ 38 $ 79 $ 125 Remainder 2018 4 20 119 143 2019 12 58 475 545 2020 12 58 475 545 2021 12 58 475 545 2022 1 58 475 534 2023 - 38 475 513 2024 - - 470 470 Total $ 49 $ 328 $ 3,043 $ 3,420 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 and diluted earnings per common share computations for the three and nine months ended September 30, 2018 and 2017 are as follows: Three Months Ended Nine Months Ended (Dollars in thousands, except per share data) September 30, September 30, 2018 2017 2018 2017 Basic earnings per common share: Net income as reported $ 1,625 $ 2,248 $ 6,697 $ 7,075 Weighted average common shares outstanding 3,029,369 2,864,007 2,922,271 2,863,806 Basic earnings per common share $ 0.54 $ 0.78 $ 2.29 $ 2.47 Diluted earnings per common share: Net income as reported $ 1,625 $ 2,248 $ 6,697 $ 7,075 Weighted average common shares outstanding 3,029,369 2,864,007 2,922,271 2,863,806 Add: Dilutive effect of assumed stock option exercises - 155 - 147 Weighted average common and dilutive potential common shares outstanding 3,029,369 2,864,162 2,922,271 2,863,953 Diluted earnings per common share $ 0.54 $ 0.78 $ 2.29 $ 2.47 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Nonvested Restricted Stock Shares Activity [Table Text Block] | A summary of restricted stock activity under the Bancorp’s incentive stock option and incentive plans described above for the year ended December 31, 2017 and nine months ended September 30, 2018 follows: Weighted Average Grant Date Non-vested Shares Shares Fair Value Non-vested at January 1, 2017 28,465 $ 26.67 Granted 4,575 39.00 Vested (1,625 ) 25.81 Forfeited (725 ) 28.62 Non-vested at December 31, 2017 30,690 $ 28.51 Non-vested at January 1, 2018 30,690 $ 28.51 Granted 4,433 43.50 Vested (7,700 ) 22.64 Forfeited - - Non-vested at September 30, 2018 27,423 $ 32.58 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 on a year-to-date basis for the Bancorp’s pooled trust preferred securities that have been classified with other-than-temporary impairment: Collateralized debt obligations other-than-temporary (Dollars in thousands) impairment Ending balance, December 31, 2017 $ 271 Additions not previously recognized - Ending balance, September 30, 2018 $ 271 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | There were no transfers to or from Levels 1 and 2 during the nine months ended September 30, 2018. Assets measured at fair value on a recurring basis are summarized below: Fair Value Measurements at September 30, 2018 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 $ 2,018 $ 2,018 $ - $ - U.S. government sponsored entities 9,768 - 9,768 - Collateralized mortgage obligations and residential mortgage-backed securities 132,670 - 132,670 - Municipal securities 91,416 - 91,416 - Collateralized debt obligations 2,199 - - 2,199 Total securities available-for-sale $ 238,071 $ 2,018 $ 233,854 $ 2,199 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 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | A roll forward of available-for-sale securities, which require significant adjustment based on unobservable data, are presented in the following table: (Dollars in thousands) Estimated Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for- sale securities 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 Beginning balance, January 1, 2018 $ 3,439 Principal payments (38 ) Total unrealized gains, included in other comprehensive income 101 Sale out of Level 3 (1,303 ) Ending balance, September 30, 2018 $ 2,199 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] | Assets measured at fair value on a non-recurring basis are summarized below: (Dollars in thousands) Fair Value Measurements at September 30, 2018 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 $ 6,843 $ - $ - $ 6,843 Foreclosed real estate 2,125 - - 2,125 (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 |
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. September 30, 2018 Estimated Fair Value Measurements at September 30, 2018 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 $ 13,964 $ 13,964 $ 13,964 $ - $ - Certificates of deposit in other financial institutions 3,754 3,673 - 3,673 - Securities available-for-sale 238,071 238,071 2,018 233,854 2,199 Loans held-for-sale 4,483 4,566 4,566 - - Loans receivable, net 734,483 717,640 - - 717,640 Federal Home Loan Bank stock 3,236 3,236 - 3,236 - Accrued interest receivable 3,560 3,560 - 3,560 - Financial liabilities: Non-interest bearing deposits 134,449 134,449 134,449 - - Interest bearing deposits 768,307 765,232 514,311 250,921 - Repurchase agreements 12,585 12,580 10,823 1,757 - Borrowed funds 48,314 48,698 13,766 34,932 - Interest rate swap agreements 111 111 - 111 - Accrued interest payable 110 110 - 110 - 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 - |
Acquisition Activity (Details T
Acquisition Activity (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | ||||
Jul. 26, 2018 | Jul. 25, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Mar. 31, 2019 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | ||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 8,689 | $ 0 | ||||
Goodwill | $ 8,170 | $ 2,792 | ||||
Scenario, Forecast [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 1,300,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 839,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 1,100,000 | |||||
First Personal Bank [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Acquisition Description Of Consideration Paid | Merger, each First Personal stockholder holding 100 or more shares of First Personal common stock received fixed consideration of (i) 0.1246 shares of NWIN common stock, and (ii) $6.67 per share in cash for each outstanding share of First Personal’s common stock. Stockholders holding less than 100 shares of First Personal common stock received $12.12 in cash and no stock consideration for each outstanding share of First Personal common stock. Any fractional shares of NWIN common stock that a First Personal stockholder would have otherwise received in the First Personal Merger were cashed out in the amount of such fraction multiplied by $42.95. | |||||
Business Combination, Consideration Transferred | $ 15,600 | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 161,875 | |||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 8,700 | $ 8,700 | ||||
Business Combination Financial Information Assets Reported by the Acquiree | 138,900 | |||||
Business Combination Financial Information Loans Receivables Reported by the Acquiree | 98,000 | |||||
Business Combination Financial Information Deposits Reported by the Acquiree | $ 125,100 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 140,500 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 94,600 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 130,300 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 124,900 | |||||
Goodwill | 5,400 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 6,900 | |||||
AJS Bancorp Inc [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Acquisition Description Of Consideration Paid | each AJSB stockholder who holds 100 or more shares of AJSB common stock will have the right to receive fixed consideration of (i) 0.2030 shares of NWIN common stock, and (ii) $7.20 per share in cash for each outstanding share of AJSB’s common stock, subject to adjustment as provided in the AJSB Merger Agreement. Stockholders holding less than 100 shares of AJSB common stock will have the right to receive $16.00 in cash and no stock consideration for each outstanding share of AJSB common stock. | |||||
Business Combination Financial Information Assets Reported by the Acquiree | $ 182,900 | |||||
Business Combination Financial Information Loans Receivables Reported by the Acquiree | 96,800 | |||||
Business Combination Financial Information Deposits Reported by the Acquiree | $ 153,500 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | $ 245,656 | $ 243,619 |
Gross Unrealized Gains | 453 | 3,879 |
Gross Unrealized Losses | (8,038) | (3,008) |
Estimated Fair Value | 238,071 | 244,490 |
Municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 92,519 | 100,088 |
Gross Unrealized Gains | 446 | 3,709 |
Gross Unrealized Losses | (1,549) | (50) |
Estimated Fair Value | 91,416 | 103,747 |
U.S. government sponsored entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 9,997 | 3,996 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (229) | (106) |
Estimated Fair Value | 9,768 | 3,890 |
Collateralized mortgage obligations and residential mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 137,628 | 134,224 |
Gross Unrealized Gains | 7 | 170 |
Gross Unrealized Losses | (4,965) | (1,456) |
Estimated Fair Value | 132,670 | 132,938 |
Collateralized Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 3,494 | 4,835 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (1,295) | (1,396) |
Estimated Fair Value | 2,199 | 3,439 |
Money market fund [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost Basis | 2,018 | 476 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | $ 2,018 | $ 476 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Contractual Maturities Of Available For Sale Debt Securities [Line Items] | ||
Estimated Fair Value, Due in one year or less | $ 2,689 | |
Estimated Fair Value, Due from one to five years | 8,580 | |
Estimated Fair Value, Due from five to ten years | 16,972 | |
Estimated Fair Value, Due over ten years | 77,160 | |
Estimated Fair Value, Total | $ 238,071 | $ 244,490 |
Tax-Equivalent Yield, Due in one year or less | 5.48% | |
Tax-Equivalent Yield, Due from one to five years | 3.18% | |
Tax-Equivalent Yield, Due from five to ten years | 4.03% | |
Tax-Equivalent Yield, Due over ten years | 4.09% | |
Tax-Equivalent Yield, Total | 3.32% | |
Collateralized Mortgage Backed Securities [Member] | ||
Contractual Maturities Of Available For Sale Debt Securities [Line Items] | ||
Estimated Fair Value, Total | $ 132,670 | $ 132,938 |
Tax-Equivalent Yield, Total | 2.76% |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Realized Gain Loss [Line Items] | ||
Proceeds | $ 29,049 | $ 48,063 |
Gross gains | 1,159 | 848 |
Gross losses | $ (4) | $ (90) |
Securities (Details 3)
Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Ending balance, December 31, 2017 | $ 684 | |||
Current period change | $ (1,755) | $ 351 | (6,676) | $ 2,266 |
Ending balance, September 30, 2018 | $ (5,992) | $ (5,992) |
Securities (Details 4)
Securities (Details 4) $ in Thousands | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | $ 67,001 | $ 68,707 |
Unrealized Losses, Less than 12 months | (3,495) | (514) |
Estimated Fair Value, 12 months or longer | 129,747 | 46,147 |
Unrealized Losses, 12 months or longer | (4,543) | (2,494) |
Estimated Fair Value, Total | 196,748 | 114,854 |
Unrealized Losses, Total | $ (8,038) | $ (3,008) |
Number of securities, Unrealized Losses, Less than 12 months | 52 | 40 |
Number of securities, Unrealized Losses, 12 months or longer | 128 | 37 |
Number of securities, Unrealized Losses, Total | 180 | 77 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | $ 3,812 | $ 0 |
Unrealized Losses, Less than 12 months | (185) | 0 |
Estimated Fair Value, 12 months or longer | 5,956 | 3,890 |
Unrealized Losses, 12 months or longer | (44) | (106) |
Estimated Fair Value, Total | 9,768 | 3,890 |
Unrealized Losses, Total | (229) | (106) |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 61,506 | 66,917 |
Unrealized Losses, Less than 12 months | (3,133) | (511) |
Estimated Fair Value, 12 months or longer | 70,448 | 37,003 |
Unrealized Losses, 12 months or longer | (1,832) | (945) |
Estimated Fair Value, Total | 131,954 | 103,920 |
Unrealized Losses, Total | (4,965) | (1,456) |
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 | 2,199 | 3,439 |
Unrealized Losses, 12 months or longer | (1,295) | (1,396) |
Estimated Fair Value, Total | 2,199 | 3,439 |
Unrealized Losses, Total | (1,295) | (1,396) |
Municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 1,683 | 1,790 |
Unrealized Losses, Less than 12 months | (177) | (3) |
Estimated Fair Value, 12 months or longer | 51,144 | 1,815 |
Unrealized Losses, 12 months or longer | (1,372) | (47) |
Estimated Fair Value, Total | 52,827 | 3,605 |
Unrealized Losses, Total | $ (1,549) | $ (50) |
Securities (Details Textual)
Securities (Details Textual) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Trading Securities Pledged as Collateral | $ 13.4 | $ 21.2 |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Subtotal | $ 742,498 | $ 621,070 |
Less: Net deferred loan origination fees | (188) | (130) |
Less: Undisbursed loan funds | (78) | (729) |
Loan receivables | 742,232 | 620,211 |
Loans secured by real estate: | ||
Total loans secured by real estate | 608,282 | 514,703 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, before Fees, Gross | 5,633 | 460 |
Commercial business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, before Fees, Gross | 102,820 | 77,122 |
Government [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, before Fees, Gross | 25,763 | 28,785 |
Loan receivables | 25,763 | 28,785 |
Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 220,862 | 172,141 |
Loans secured by real estate: | ||
Total loans secured by real estate | 221,054 | 172,780 |
Home equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 43,234 | 36,769 |
Loans secured by real estate: | ||
Total loans secured by real estate | 43,175 | 36,718 |
Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 243,304 | 211,090 |
Loans secured by real estate: | ||
Total loans secured by real estate | 243,304 | 211,090 |
Construction and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 54,755 | 50,746 |
Loans secured by real estate: | ||
Total loans secured by real estate | 54,755 | 50,746 |
Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 242 | 0 |
Loans secured by real estate: | ||
Total loans secured by real estate | 242 | 0 |
Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan receivables | 45,752 | 43,368 |
Loans secured by real estate: | ||
Total loans secured by real estate | $ 45,752 | $ 43,369 |
Loans Receivable (Details 1)
Loans Receivable (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Allowance for loan losses: | |||||
Beginning Balance | $ 7,448 | $ 7,073 | $ 7,482 | $ 7,698 | |
Charge-offs | (49) | (194) | (849) | (1,397) | |
Recoveries | 38 | 15 | 166 | 36 | |
Provisions | 312 | 165 | 950 | 722 | |
Ending Balance | 7,749 | 7,059 | 7,749 | 7,059 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 376 | 376 | $ 704 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 7,373 | 7,373 | 6,778 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 742,232 | 742,232 | 620,211 | ||
Ending balance: Loans individually evaluated for impairment | 2,960 | 2,960 | 1,832 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 4,259 | 4,259 | 690 | ||
Ending balance: Loans collectively evaluated for impairment | 735,013 | 735,013 | 617,689 | ||
Residential real estate [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 1,523 | 1,561 | 1,568 | 2,111 | |
Charge-offs | (30) | (10) | (136) | (913) | |
Recoveries | 0 | 3 | 0 | 3 | |
Provisions | 82 | 17 | 143 | 370 | |
Ending Balance | 1,575 | 1,571 | 1,575 | 1,571 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 20 | 20 | 21 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 1,555 | 1,555 | 1,547 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 220,862 | 220,862 | 172,141 | ||
Ending balance: Loans individually evaluated for impairment | 536 | 536 | 462 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 1,095 | 1,095 | 690 | ||
Ending balance: Loans collectively evaluated for impairment | 219,231 | 219,231 | 170,989 | ||
Home equity [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 183 | 76 | 166 | 299 | |
Charge-offs | 0 | (35) | (24) | (60) | |
Recoveries | 0 | 0 | 0 | 0 | |
Provisions | 10 | 41 | 51 | (157) | |
Ending Balance | 193 | 82 | 193 | 82 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 9 | 9 | 0 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 184 | 184 | 166 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 43,234 | 43,234 | 36,769 | ||
Ending balance: Loans individually evaluated for impairment | 147 | 147 | 0 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 123 | 123 | 0 | ||
Ending balance: Loans collectively evaluated for impairment | 42,964 | 42,964 | 36,769 | ||
Commercial real estate [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 3,170 | 2,890 | 3,125 | 3,113 | |
Charge-offs | 0 | 0 | (119) | 0 | |
Recoveries | 22 | 0 | 24 | 0 | |
Provisions | 48 | 28 | 210 | (195) | |
Ending Balance | 3,240 | 2,918 | 3,240 | 2,918 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 278 | 278 | 144 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 2,962 | 2,962 | 2,981 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 243,304 | 243,304 | 211,090 | ||
Ending balance: Loans individually evaluated for impairment | 1,804 | 1,804 | 512 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 1,605 | 1,605 | 0 | ||
Ending balance: Loans collectively evaluated for impairment | 239,895 | 239,895 | 210,578 | ||
Construction and land develolpment [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 611 | 600 | 618 | 617 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provisions | (32) | (30) | (39) | (47) | |
Ending Balance | 579 | 570 | 579 | 570 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | 0 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 579 | 579 | 618 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 54,755 | 54,755 | 50,746 | ||
Ending balance: Loans individually evaluated for impairment | 0 | 0 | 134 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Loans collectively evaluated for impairment | 54,755 | 54,755 | 50,612 | ||
Multifamily [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 607 | 501 | 622 | 572 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provisions | (150) | 40 | (165) | (31) | |
Ending Balance | 457 | 541 | 457 | 541 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | 0 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 457 | 457 | 622 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 45,752 | 45,752 | 43,368 | ||
Ending balance: Loans individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Loans collectively evaluated for impairment | 45,752 | 45,752 | 43,368 | ||
Farmland [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 4 | 0 | 0 | ||
Charge-offs | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | ||
Provisions | (1) | 0 | 3 | ||
Ending Balance | 3 | 0 | 3 | 0 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | 0 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 3 | 3 | 0 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 242 | 242 | 0 | ||
Ending balance: Loans individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Loans collectively evaluated for impairment | 242 | 242 | 0 | ||
Consumer [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 36 | 30 | 31 | 34 | |
Charge-offs | (19) | (29) | (41) | (59) | |
Recoveries | 8 | 7 | 17 | 11 | |
Provisions | 298 | 22 | 316 | 44 | |
Ending Balance | 323 | 30 | 323 | 30 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | 0 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 323 | 323 | 31 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 5,633 | 5,633 | 461 | ||
Ending balance: Loans individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Loans collectively evaluated for impairment | 5,633 | 5,633 | 461 | ||
Commercial business [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 1,264 | 1,357 | 1,298 | 896 | |
Charge-offs | 0 | (120) | (529) | (365) | |
Recoveries | 8 | 5 | 125 | 22 | |
Provisions | 61 | 49 | 439 | 738 | |
Ending Balance | 1,333 | 1,291 | 1,333 | 1,291 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 69 | 69 | 539 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 1,264 | 1,264 | 759 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 102,687 | 102,687 | 76,851 | ||
Ending balance: Loans individually evaluated for impairment | 473 | 473 | 724 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 1,436 | 1,436 | 0 | ||
Ending balance: Loans collectively evaluated for impairment | 100,778 | 100,778 | 76,127 | ||
Government [Member] | |||||
Allowance for loan losses: | |||||
Beginning Balance | 50 | 58 | 54 | 56 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provisions | (4) | (2) | (8) | 0 | |
Ending Balance | 46 | $ 56 | 46 | $ 56 | |
Ending balance: Loans receivable individually evaluated impairment reserves | 0 | 0 | 0 | ||
Ending balance: Loans receivable collectively evaluated impairment reserves | 46 | 46 | 54 | ||
LOAN RECEIVABLES | |||||
Loan receivables | 25,763 | 25,763 | 28,785 | ||
Ending balance: Loans individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Purchased credit impaired individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance: Loans collectively evaluated for impairment | $ 25,763 | $ 25,763 | $ 28,785 |
Loans Receivable (Details 2)
Loans Receivable (Details 2) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | $ 742,232 | $ 620,211 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 220,862 | 172,141 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 43,234 | 36,769 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 243,304 | 211,090 |
Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 54,755 | 50,746 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 45,752 | 43,368 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 242 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 5,633 | 461 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 102,687 | 76,851 |
Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 25,763 | 28,785 |
Moderate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 10,917 | 8,056 |
Moderate [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 143 | 887 |
Moderate [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 108 | 0 |
Moderate [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
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] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Moderate [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 794 | 0 |
Moderate [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 9,872 | 7,169 |
Moderate [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Above average acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 94,724 | 35,405 |
Above average acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 55,619 | 12,317 |
Above average acceptable [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,552 | 1,065 |
Above average acceptable [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 6,133 | 2,372 |
Above average acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 330 | 0 |
Above average acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 574 | 0 |
Above average acceptable [Member] | Farmland [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 | 3,007 | 131 |
Above average acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 22,398 | 17,202 |
Above average acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 2,111 | 2,318 |
Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 300,752 | 285,153 |
Acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 99,366 | 92,241 |
Acceptable [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 37,472 | 34,871 |
Acceptable [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 80,598 | 79,847 |
Acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 22,127 | 20,719 |
Acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 19,575 | 20,159 |
Acceptable [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Acceptable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 678 | 330 |
Acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 22,229 | 16,784 |
Acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 18,707 | 20,202 |
Marginally acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 194,919 | 158,206 |
Marginally acceptable [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 8,920 | 8,759 |
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 | 102,712 | 81,547 |
Marginally acceptable [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 22,895 | 19,583 |
Marginally acceptable [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 23,686 | 20,965 |
Marginally acceptable [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Marginally acceptable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 221 | 0 |
Marginally acceptable [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 31,540 | 21,087 |
Marginally acceptable [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,945 | 6,265 |
Pass/monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 118,968 | 115,806 |
Pass/monitor [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 47,779 | 50,075 |
Pass/monitor [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 126 | 250 |
Pass/monitor [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 46,018 | 40,054 |
Pass/monitor [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 9,403 | 10,310 |
Pass/monitor [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 1,763 | 2,076 |
Pass/monitor [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 242 | 0 |
Pass/monitor [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 913 | 0 |
Pass/monitor [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 12,724 | 13,041 |
Pass/monitor [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 14,519 | 11,683 |
Special mention [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,685 | 4,130 |
Special mention [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 544 | 233 |
Special mention [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 5,972 | 6,758 |
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 | 154 | 168 |
Special mention [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Special mention [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 20 | 0 |
Special mention [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 3,144 | 394 |
Special mention [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 7,433 | 5,902 |
Substandard [Member] | Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,350 | 3,732 |
Substandard [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 432 | 350 |
Substandard [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 1,871 | 512 |
Substandard [Member] | Construction and land develolpment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 134 |
Substandard [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 0 | 0 |
Substandard [Member] | Farmland [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 | 780 | 1,174 |
Substandard [Member] | Government [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | $ 0 | $ 0 |
Loans Receivable (Details 3)
Loans Receivable (Details 3) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Residential real estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | $ 1,631 | $ 1,152 | |
Unpaid Principal Balance | 4,035 | 3,621 | |
Related Allowance | 20 | 21 | |
Average Recorded Investment | 1,322 | $ 1,602 | |
Interest Income Recognized | 65 | 49 | |
Home equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 270 | 0 | |
Unpaid Principal Balance | 277 | 0 | |
Related Allowance | 9 | 0 | |
Average Recorded Investment | 116 | 0 | |
Interest Income Recognized | 1 | 0 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 3,409 | 512 | |
Unpaid Principal Balance | 4,108 | 512 | |
Related Allowance | 278 | 144 | |
Average Recorded Investment | 1,394 | 500 | |
Interest Income Recognized | 49 | 4 | |
Construction and land develolpment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | 134 | |
Unpaid Principal Balance | 0 | 134 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 67 | 134 | |
Interest Income Recognized | 0 | 0 | |
Multifamily [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Farmland [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Commercial business [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 1,909 | 724 | |
Unpaid Principal Balance | 2,169 | 724 | |
Related Allowance | 69 | 539 | |
Average Recorded Investment | 810 | 682 | |
Interest Income Recognized | 21 | 7 | |
Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Government [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Impaired Loans With No Related Allowance [Member] | Residential real estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 1,518 | 1,072 | |
Unpaid Principal Balance | 3,922 | 3,351 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 1,208 | 1,302 | |
Interest Income Recognized | 61 | 48 | |
Impaired Loans With No Related Allowance [Member] | Home equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 212 | 0 | |
Unpaid Principal Balance | 219 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 87 | 0 | |
Interest Income Recognized | 1 | 0 | |
Impaired Loans With No Related Allowance [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 2,772 | 253 | |
Unpaid Principal Balance | 3,471 | 253 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 1,114 | 361 | |
Interest Income Recognized | 46 | 4 | |
Impaired Loans With No Related Allowance [Member] | Construction and land develolpment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | 134 | |
Unpaid Principal Balance | 0 | 134 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 67 | 134 | |
Interest Income Recognized | 0 | 0 | |
Impaired Loans With No Related Allowance [Member] | Multifamily [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 No Related Allowance [Member] | Farmland [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Impaired Loans With No Related Allowance [Member] | Commercial business [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 1,831 | 184 | |
Unpaid Principal Balance | 2,091 | 184 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 651 | 201 | |
Interest Income Recognized | 20 | 3 | |
Impaired Loans With No Related Allowance [Member] | Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Impaired Loans With No Related Allowance [Member] | Government [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Impaired Loans With Related Allowance [Member] | Residential real estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 113 | 80 | |
Unpaid Principal Balance | 113 | 270 | |
Related Allowance | 20 | 21 | |
Average Recorded Investment | 114 | 300 | |
Interest Income Recognized | 4 | 1 | |
Impaired Loans With Related Allowance [Member] | Home equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 58 | 0 | |
Unpaid Principal Balance | 58 | 0 | |
Related Allowance | 9 | 0 | |
Average Recorded Investment | 29 | 0 | |
Interest Income Recognized | 0 | 0 | |
Impaired Loans With Related Allowance [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 637 | 259 | |
Unpaid Principal Balance | 637 | 259 | |
Related Allowance | 278 | 144 | |
Average Recorded Investment | 280 | 139 | |
Interest Income Recognized | 3 | 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] | Multifamily [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] | Farmland [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Impaired Loans With Related Allowance [Member] | Commercial business [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 78 | 540 | |
Unpaid Principal Balance | 78 | 540 | |
Related Allowance | 69 | $ 539 | |
Average Recorded Investment | 159 | 481 | |
Interest Income Recognized | 1 | $ 4 | |
Impaired Loans With Related Allowance [Member] | Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | 0 | ||
Impaired Loans With Related Allowance [Member] | Government [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 0 | ||
Unpaid Principal Balance | 0 | ||
Related Allowance | 0 | ||
Average Recorded Investment | 0 | ||
Interest Income Recognized | $ 0 |
Loans Receivable (Details 4)
Loans Receivable (Details 4) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 11,407 | $ 13,129 |
Current | 730,825 | 607,082 |
Total Loans | 742,232 | 620,211 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 935 | 227 |
Government [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 25,763 | 28,785 |
Total Loans | 25,763 | 28,785 |
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 | 7,789 | 9,764 |
Current | 213,073 | 162,377 |
Total Loans | 220,862 | 172,141 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 885 | 225 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 572 | 547 |
Current | 42,662 | 36,222 |
Total Loans | 43,234 | 36,769 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 50 | 2 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,032 | 1,379 |
Current | 242,272 | 209,711 |
Total Loans | 243,304 | 211,090 |
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 | 0 | 133 |
Current | 54,755 | 50,613 |
Total Loans | 54,755 | 50,746 |
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 | 154 | 319 |
Current | 45,598 | 43,049 |
Total Loans | 45,752 | 43,368 |
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 | 72 | 1 |
Current | 5,561 | 460 |
Total Loans | 5,633 | 461 |
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 | 1,788 | 986 |
Current | 100,899 | 75,865 |
Total Loans | 102,687 | 76,851 |
Recorded Investments Greater than 90 Days Past Due and Accruing | 0 | 0 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 242 | 0 |
Total Loans | 242 | 0 |
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 | 4,003 | 6,772 |
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 | 2,329 | 4,921 |
Financing Receivables, 30-59 Days Past Due [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 225 | 295 |
Financing Receivables, 30-59 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 951 |
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 | 0 | 319 |
Financing Receivables, 30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 52 | 1 |
Financing Receivables, 30-59 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,397 | 285 |
Financing Receivables, 30-59 Days Past Due [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,411 | 2,027 |
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 | 1,518 | 1,751 |
Financing Receivables, 60-89 Days Past Due [Member] | Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 183 | 18 |
Financing Receivables, 60-89 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 352 | 96 |
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 | 154 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 20 | 0 |
Financing Receivables, 60-89 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 184 | 162 |
Financing Receivables, 60-89 Days Past Due [Member] | Farmland [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] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,993 | 4,330 |
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 | 3,942 | 3,092 |
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 | 164 | 234 |
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 | 680 | 332 |
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 | 0 | 133 |
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 | 207 | 539 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 0 | $ 0 |
Loans Receivable (Details 5)
Loans Receivable (Details 5) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | $ 5,471 | $ 4,996 |
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 | 3,861 | 3,509 |
Home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 328 | 350 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 768 | 332 |
Construction and land development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 0 | 133 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivables on nonaccrual status | 0 | 0 |
Farmland [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 | $ 514 | $ 672 |
Loans Receivable (Details 6)
Loans Receivable (Details 6) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 2,137 |
Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | 1,200 |
First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | 1,100 |
Residential real estate [Member] | First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 948 |
Accretable period in months | 56 months |
Residential real estate [Member] | Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 1,200 |
Accretable period in months | 44 months |
Residential real estate [Member] | First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 1,100 |
Accretable period in months | 55 months |
Home equity [Member] | First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 51 |
Accretable period in months | 50 months |
Home equity [Member] | Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 0 |
Home equity [Member] | First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | 0 |
Commercial Real Estate [Member] | First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 208 |
Accretable period in months | 56 months |
Commercial Real Estate [Member] | Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 0 |
Commercial Real Estate [Member] | First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | 0 |
Construction and land develolpment [Member] | First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 1 |
Accretable period in months | 30 months |
Construction and land develolpment [Member] | Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 0 |
Construction and land develolpment [Member] | First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | 0 |
Multifamily [Member] | First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 11 |
Accretable period in months | 48 months |
Multifamily [Member] | Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 0 |
Multifamily [Member] | First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | 0 |
Commercial business [Member] | First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 348 |
Accretable period in months | 24 months |
Commercial business [Member] | Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 0 |
Commercial business [Member] | First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | 0 |
Purchased credit impaired loans [Member] | First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 424 |
Accretable period in months | 32 months |
Purchased credit impaired loans [Member] | Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 0 |
Purchased credit impaired loans [Member] | First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | 0 |
Consumer [Member] | First Personal Bank [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 146 |
Accretable period in months | 50 months |
Consumer [Member] | Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 0 |
Consumer [Member] | First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Net fair value discount | $ 0 |
Loans Receivable (Details 7)
Loans Receivable (Details 7) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivables Acquired Accretable Yield or Income Collected | $ 419 | $ 351 |
First Federal [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivables Acquired Accretable Yield or Income Collected | 105 | 112 |
Liberty Savings [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivables Acquired Accretable Yield or Income Collected | 200 | 239 |
First Personal [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivables Acquired Accretable Yield or Income Collected | $ 114 | $ 0 |
Loans Receivable (Details 8)
Loans Receivable (Details 8) $ in Thousands | Sep. 30, 2018USD ($) |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Remainder 2,018 | $ 255 |
2,019 | 692 |
2,020 | 554 |
2,021 | 335 |
2,022 | 283 |
2,023 | 67 |
Total | 2,186 |
First Federal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Remainder 2,018 | 33 |
2,019 | 22 |
2,020 | 0 |
2,021 | 0 |
2,022 | 0 |
2,023 | 0 |
Total | 55 |
Liberty Savings [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Remainder 2,018 | 65 |
2,019 | 43 |
2,020 | 0 |
2,021 | 0 |
2,022 | 0 |
2,023 | 0 |
Total | 108 |
First Personal [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Remainder 2,018 | 157 |
2,019 | 627 |
2,020 | 554 |
2,021 | 335 |
2,022 | 283 |
2,023 | 67 |
Total | $ 2,023 |
Loans Receivable (Details Textu
Loans Receivable (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Impaired Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | $ 7,600 | $ 2,600 |
Impaired Financing Receivable, Recorded Investment, Total | 4,300 | 690 |
Two Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | 114 | |
Home Equity Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 277 | 0 |
Impaired Financing Receivable, Recorded Investment, Total | 270 | 0 |
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | 149 | |
Commercial Business Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | 355 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 4,108 | 512 |
Impaired Financing Receivable, Recorded Investment, Total | 3,409 | $ 512 |
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | $ 935 |
Foreclosed Real Estate (Details
Foreclosed Real Estate (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Real Estate Properties [Line Items] | ||
Foreclosed real estate | $ 2,125 | $ 1,699 |
Residential real estate | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 1,311 | 914 |
Commercial real estate | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 126 | 97 |
Construction and land development | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | 468 | 468 |
Commercial business | ||
Real Estate Properties [Line Items] | ||
Foreclosed real estate | $ 220 | $ 220 |
Intangibles and Acquisition R_3
Intangibles and Acquisition Related Accounting (Details) - Core Deposits [Member] $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Current period | $ 125 |
Remainder 2,018 | 143 |
2,019 | 545 |
2,020 | 545 |
2,021 | 545 |
2,022 | 534 |
2,023 | 513 |
2,024 | 470 |
Total | 3,420 |
First Federal Savings Loan [Member] | |
Current period | 8 |
Remainder 2,018 | 4 |
2,019 | 12 |
2,020 | 12 |
2,021 | 12 |
2,022 | 1 |
2,023 | 0 |
2,024 | 0 |
Total | 49 |
Liberty Savings Bank [Member] | |
Current period | 38 |
Remainder 2,018 | 20 |
2,019 | 58 |
2,020 | 58 |
2,021 | 58 |
2,022 | 58 |
2,023 | 38 |
2,024 | 0 |
Total | 328 |
First Personal Bank [Member] | |
Current period | 79 |
Remainder 2,018 | 119 |
2,019 | 475 |
2,020 | 475 |
2,021 | 475 |
2,022 | 475 |
2,023 | 475 |
2,024 | 470 |
Total | $ 3,043 |
Intangibles and Acquisition R_4
Intangibles and Acquisition Related Accounting (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2018 | Jul. 26, 2018 | Dec. 31, 2017 | May 31, 2004 | |
Indefinite-lived Intangible Assets [Line Items] | ||||
Goodwill | $ 8,170 | $ 2,792 | ||
Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Security Owned and Sold, Not yet Purchased Fair Value, Security Sold, Not yet Purchased | $ 4,124 | |||
Debt Instrument, Interest Rate Terms | three-month LIBOR plus 275 basis points | |||
Debt Instrument, Basis Spread on Variable Rate | 275.00% | |||
Debt Instrument, Maturity Date | Jun. 17, 2034 | |||
First Federal Acquisition [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Goodwill | $ 5,400 | |||
First Federal Savings Loan [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Goodwill | 2,000 | |||
Liberty Savings Bank [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Goodwill | $ 804 | |||
First Personal Bank [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Goodwill | $ 5,400 | |||
Finite-Lived Intangible Asset, Useful Life | 8 months | |||
First Personal Bank [Member] | Fair Value Premium [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization of Intangible Assets | $ 133 | |||
First Personal Bank [Member] | Loans Receivable [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization of Intangible Assets | 32 | |||
First Personal Bank [Member] | During 2018 [Member] | Loans Receivable [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Accretion (Amortization) of Discounts and Premiums, Investments | 48 | |||
First Personal Bank [Member] | During 2019 [Member] | Loans Receivable [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Accretion (Amortization) of Discounts and Premiums, Investments | 53 | |||
Core Deposits [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization of Intangible Assets | 125 | |||
Core Deposits [Member] | First Federal Acquisition [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Finite-Lived Core Deposits, Gross | $ 93 | |||
Finite-Lived Intangible Asset, Useful Life | 7 years 10 months 24 days | |||
Core Deposits [Member] | First Federal Savings Loan [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization of Intangible Assets | $ 8 | |||
Core Deposits [Member] | Liberty Savings Bank [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization of Intangible Assets | 38 | |||
Core Deposits [Member] | First Personal Bank [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Finite-Lived Core Deposits, Gross | $ 3,000 | |||
Finite-Lived Intangible Asset, Useful Life | 6 years 4 months 24 days | |||
Amortization of Intangible Assets | $ 79 | |||
Liberty Savings [Member] | First Federal Acquisition [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Goodwill | 8,200 | |||
Liberty Savings [Member] | Core Deposits [Member] | ||||
Indefinite-lived Intangible Assets [Line Items] | ||||
Finite-Lived Core Deposits, Gross | $ 471 | |||
Finite-Lived Intangible Asset, Useful Life | 8 years 2 months 12 days |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Basic earnings per common share: | ||||
Net income as reported | $ 1,625 | $ 2,248 | $ 6,697 | $ 7,075 |
Weighted average common shares outstanding | 3,029,369 | 2,864,007 | 2,922,271 | 2,863,806 |
Basic earnings per common share | $ 0.54 | $ 0.78 | $ 2.29 | $ 2.47 |
Diluted earnings per common share: | ||||
Net income as reported | $ 1,625 | $ 2,248 | $ 6,697 | $ 7,075 |
Weighted average common shares outstanding | 3,029,369 | 2,864,007 | 2,922,271 | 2,863,806 |
Add: Dilutive effect of assumed stock option exercises | 0 | 155 | 0 | 147 |
Weighted average common and dilutive potential common shares outstanding | 3,029,369 | 2,864,162 | 2,922,271 | 2,863,953 |
Diluted earnings per common share | $ 0.54 | $ 0.78 | $ 2.29 | $ 2.47 |
Stock Based Compensation (Detai
Stock Based Compensation (Details) - Employee Stock Option [Member] - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares - Nonvested, Beginning Balance (in shares) | 30,690 | 28,465 |
Shares - Granted (in shares) | 4,433 | 4,575 |
Shares - Vested (in shares) | (7,700) | (1,625) |
Shares - Forfeited (in shares) | 0 | (725) |
Shares - Nonvested, Ending Balance (in shares) | 27,423 | 30,690 |
Weighted-Average Grant Date Fair Value - Nonvested, Beginning Balance (in dollars per share) | $ 28.51 | $ 26.67 |
Weighted-Average Grant Date Fair Value - Granted (in dollars per share) | 43.50 | 39 |
Weighted-Average Grant Date Fair Value - Vested (in dollars per share) | 22.64 | 25.81 |
Weighted-Average Grant Date Fair Value - Forfeited (in dollars per share) | 0 | 28.62 |
Weighted-Average Grant Date Fair Value - Nonvested, Ending Balance (in dollars per share) | $ 32.58 | $ 28.51 |
Stock Based Compensation (Det_2
Stock Based Compensation (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
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 | |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 4,433 | 4,575 |
Allocated Share-based Compensation Expense | $ 154 | $ 142 |
Share-based Compensation Expense, Estimated for Remainder of Fiscal Year | 3 | |
Share-based Compensation Expense, Estimated for Year Two | 50 | |
Share-based Compensation Expense Estimated For Year Three | 184 | |
Share-based Compensation Expense Estimated For Year Four | 150 | |
Share-based Compensation Expense Estimated For Year Five | 54 | |
Share based Compensation Expense Estimated future compensation total | $ 441 |
Fair Value (Details)
Fair Value (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | |
Ending balance, December 31, 2017 | $ 271 |
Additions not previously recognized | 0 |
Ending balance, September 30, 2018 | $ 271 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 238,071 | $ 244,490 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 2,018 | 476 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 233,854 | 240,575 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 2,199 | 3,439 |
Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 238,071 | 244,490 |
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 | 2,018 | 476 |
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 | 233,854 | 240,575 |
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 | 2,199 | 3,439 |
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 | 2,018 | 476 |
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 | 2,018 | 476 |
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 | 91,416 | 103,747 |
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 | 91,416 | 103,747 |
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 | 9,768 | 3,890 |
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 | 9,768 | 3,890 |
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 | 132,670 | 132,938 |
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 | 132,670 | 132,938 |
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 | 2,199 | 3,439 |
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 | $ 2,199 | $ 3,439 |
Fair Value (Details 2)
Fair Value (Details 2) - Collateralized Debt Obligations [Member] - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | $ 3,439 | $ 2,409 |
Principal payments | (38) | (154) |
Total unrealized gains, included in other comprehensive income | 101 | 1,184 |
Sale out of Level 3 | (1,303) | 0 |
Ending balance | $ 2,199 | $ 3,439 |
Fair Value (Details 3)
Fair Value (Details 3) - Fair Value Measurements [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 6,843 | $ 1,818 |
Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,125 | 1,699 |
Fair Value, Inputs, Level 1 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 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 | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 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 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Impaired loans [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 6,843 | 1,818 |
Fair Value, Inputs, Level 3 [Member] | Foreclosed real estate [Member] | ||
Fair Value Asset Measured On Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 2,125 | $ 1,699 |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financial assets, Carrying value: | ||
Cash and cash equivalents - Carrying Value | $ 13,964 | $ 11,025 |
Certificates of deposit in other financial institutions -Carrying Value | 3,754 | 1,676 |
Securities available-for-sale - Carrying Value | 238,071 | 244,490 |
Loans held-for-sale - Carrying Value | 4,483 | 1,592 |
Loans receivable, net - Carrying Value | 734,483 | 612,729 |
Federal Home Loan Bank stock - Carrying Value | 3,236 | 3,000 |
Accrued interest receivable - Carrying Value | 3,560 | 3,262 |
Financial liabilities, Carrying value: | ||
Non-interest bearing deposits - Carrying Value | 134,449 | 120,556 |
Interest bearing deposits - Carrying Value | 768,307 | 672,448 |
Repurchase agreements - Carrying Value | 12,585 | 11,300 |
Borrowed funds - Carrying Value | 48,314 | 20,881 |
Interest rate swap agreements - Carrying Value | 111 | |
Accrued interest payable - Carrying Value | 110 | 42 |
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 13,964 | 11,025 |
Certificates of deposit in other financial institutions - Estimated Fair Value | 3,673 | 1,640 |
Securities available-for-sale - Estimated Fair Value | 238,071 | 244,490 |
Loans held-for-sale - Estimated Fair Value | 4,566 | 1,625 |
Loans receivable, net - Estimated Fair Value | 717,640 | 608,506 |
Federal Home Loan Bank stock - Estimated Fair Value | 3,236 | 3,000 |
Accrued interest receivable - Estimated Fair Value | 3,560 | 3,262 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 134,449 | 120,556 |
Interest bearing deposits - Estimated Fair Value | 765,232 | 670,967 |
Repurchase agreements - Estimated Fair Value | 12,580 | 11,292 |
Borrowed funds - Estimated Fair Value | 48,698 | 20,818 |
Accrued interest payable - Estimated Fair Value | 110 | 42 |
Interest rate swap agreements - Estimated Fair Value | 111 | |
Fair Value, Inputs, Level 1 [Member] | ||
Financial assets, Fair value: | ||
Cash and cash equivalents - Estimated Fair Value | 13,964 | 11,025 |
Certificates of deposit in other financial institutions - Estimated Fair Value | 0 | 0 |
Securities available-for-sale - Estimated Fair Value | 2,018 | 476 |
Loans held-for-sale - Estimated Fair Value | 4,566 | 1,625 |
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 | 134,449 | 120,556 |
Interest bearing deposits - Estimated Fair Value | 514,311 | 488,528 |
Repurchase agreements - Estimated Fair Value | 10,823 | 9,545 |
Borrowed funds - Estimated Fair Value | 13,766 | 600 |
Accrued interest payable - Estimated Fair Value | 0 | 0 |
Interest rate swap agreements - Estimated Fair Value | 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 - Estimated Fair Value | 3,673 | 1,640 |
Securities available-for-sale - Estimated Fair Value | 233,854 | 240,575 |
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 | 3,236 | 3,000 |
Accrued interest receivable - Estimated Fair Value | 3,560 | 3,262 |
Financial liabilities, Fair value: | ||
Non-interest bearing deposits - Estimated Fair Value | 0 | 0 |
Interest bearing deposits - Estimated Fair Value | 250,921 | 182,439 |
Repurchase agreements - Estimated Fair Value | 1,757 | 1,747 |
Borrowed funds - Estimated Fair Value | 34,932 | 20,218 |
Accrued interest payable - Estimated Fair Value | 110 | 42 |
Interest rate swap agreements - Estimated Fair Value | 111 | |
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 - Estimated Fair Value | 0 | 0 |
Securities available-for-sale - Estimated Fair Value | 2,199 | 3,439 |
Loans held-for-sale - Estimated Fair Value | 0 | 0 |
Loans receivable, net - Estimated Fair Value | 717,640 | 608,506 |
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 |
Interest rate swap agreements - Estimated Fair Value | $ 0 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Values of Financial Instruments [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | $ 3,500 | |
Unpaid Principal Balance | 7,200 | $ 2,500 |
Impaired Financing Receivable, Reserve | 376 | 704 |
Impaired Financing Receivable, Fair Value | $ 6,800 | $ 1,800 |