Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 30, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | FIRST DEFIANCE FINANCIAL CORP | |
Entity Central Index Key | 946,647 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | FDEF | |
Entity Common Stock, Shares Outstanding | 10,197,050 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Cash and cash equivalents: | ||
Cash and amounts due from depository institutions | $ 46,566 | $ 58,693 |
Federal funds sold | 92,000 | 55,000 |
Cash and cash equivalents at beginning of year | 138,566 | 113,693 |
Securities: | ||
Available-for-sale, carried at fair value | 270,110 | 260,650 |
Held-to-maturity, carried at amortized cost (fair value $642 and $649 at March 31, 2018 and December 31, 2017, respectively) | 642 | 648 |
Marketable Securities, Total | 270,752 | 261,298 |
Loans held for sale | 11,266 | 10,435 |
Loans receivable, net of allowance of $27,267 at March 31, 2018 and $26,683 at December 31, 2017, respectively | 2,331,063 | 2,322,030 |
Mortgage servicing rights | 9,850 | 9,808 |
Accrued interest receivable | 9,359 | 8,706 |
Federal Home Loan Bank stock | 15,989 | 15,992 |
Bank owned life insurance | 66,630 | 66,230 |
Premises and equipment | 39,826 | 40,217 |
Real estate and other assets held for sale | 1,440 | 1,532 |
Goodwill | 98,569 | 98,569 |
Core deposit and other intangibles | 5,356 | 5,703 |
Deferred taxes | 958 | 231 |
Other assets | 23,360 | 38,959 |
Total assets | 3,022,984 | 2,993,403 |
Liabilities: | ||
Deposits | 2,491,801 | 2,437,656 |
Advances from the Federal Home Loan Bank | 71,001 | 84,279 |
Subordinated debentures | 36,083 | 36,083 |
Securities sold under repurchase agreements | 9,321 | 26,019 |
Advance payments by borrowers | 2,482 | 2,925 |
Other liabilities | 33,082 | 33,155 |
Total liabilities | 2,643,770 | 2,620,117 |
Stockholders’ equity: | ||
Preferred stock, $.01 par value per share: 37,000 shares authorized; no shares issued | 0 | 0 |
Preferred stock, $.01 par value per share: 4,963,000 shares authorized; no shares issued | 0 | 0 |
Common stock, $.01 par value per share: 25,000,000 shares authorized; 12,703,320 and 12,712,841 shares issued and 10,181,899 and 10,156,041 shares outstanding, respectively | 127 | 127 |
Additional paid-in capital | 160,547 | 160,940 |
Accumulated other comprehensive income (loss), net of tax of $(677) and $117, respectively | (2,546) | 217 |
Retained earnings | 271,426 | 262,900 |
Treasury stock, at cost, 2,521,421 and 2,556,800 shares respectively | (50,340) | (50,898) |
Total stockholders' equity | 379,214 | 373,286 |
Total liabilities and stockholders’ equity | $ 3,022,984 | $ 2,993,403 |
Consolidated Condensed Stateme3
Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Held-to-maturity, fair value (in dollars) | [1] | $ 642 | $ 649 |
Loans receivable, allowance (in dollars) | $ 27,267 | $ 26,683 | |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Common stock, shares authorized | 25,000,000 | 25,000,000 | |
Common Stock, Shares Issued | 12,703,320 | 12,712,841 | |
Common stock, shares outstanding | 10,181,899 | 10,156,041 | |
Accumulated other comprehensive income, tax effect (in dollars) | $ (677) | $ 117 | |
Treasury stock, shares | 2,521,421 | 2,556,800 | |
Preferred Stock [Member] | |||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Preferred stock, shares authorized | 4,963,000 | 4,963,000 | |
Preferred stock, shares issued | 0 | 0 | |
Cumulative Preferred Stock [Member] | |||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Preferred stock, shares authorized | 37,000 | 37,000 | |
Preferred stock, shares issued | 0 | 0 | |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Consolidated Condensed Stateme4
Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest Income | ||
Loans | $ 26,526 | $ 21,969 |
Investment securities: | ||
Taxable | 802 | 979 |
Non-taxable | 1,049 | 777 |
Interest-bearing deposits | 297 | 145 |
FHLB stock dividends | 231 | 166 |
Total interest income | 28,905 | 24,036 |
Interest Expense | ||
Deposits | 2,611 | 1,796 |
FHLB advances and other | 319 | 366 |
Subordinated debentures | 280 | 215 |
Notes payable | 8 | 14 |
Total interest expense | 3,218 | 2,391 |
Net interest income | 25,687 | 21,645 |
Provision for loan losses | (1,095) | 55 |
Net interest income after provision for loan losses | 26,782 | 21,590 |
Non-interest Income | ||
Service fees and other charges | 3,131 | 2,760 |
Insurance commissions | 4,277 | 3,457 |
Mortgage banking income | 1,742 | 1,738 |
Gain on sale of non-mortgage loans | 224 | 0 |
Trust income | 552 | 450 |
Income from Bank Owned Life Insurance | 400 | 1,823 |
Other non-interest income | 377 | 321 |
Total non-interest income | 10,703 | 10,549 |
Non-interest Expense | ||
Compensation and benefits | 13,249 | 14,335 |
Occupancy | 2,071 | 1,837 |
FDIC insurance premium | 360 | 290 |
Financial institutions tax | 531 | 480 |
Data processing | 2,105 | 1,939 |
Amortization of intangibles | 347 | 232 |
Other non-interest expense | 4,588 | 4,029 |
Total non-interest expense | 23,251 | 23,142 |
Income before income taxes | 14,234 | 8,997 |
Federal income taxes | 2,497 | 3,857 |
Net Income | $ 11,737 | $ 5,140 |
Earnings per common share (Note 6) | ||
Basic | $ 1.15 | $ 0.54 |
Diluted | 1.15 | 0.54 |
Dividends declared per share (Note 5) | $ 0.3 | $ 0.25 |
Average common shares outstanding (Note 6) | ||
Basic | 10,165 | 9,441 |
Diluted | 10,219 | 9,497 |
Consolidated Condensed Stateme5
Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Net income | $ 11,737 | $ 5,140 | |
Other comprehensive income (loss): | |||
Unrealized gains (losses) on securities available for sale | (3,557) | 1,580 | |
Reclassification adjustment for security gains included in net income | [1] | 0 | 0 |
Income tax expense (benefit) | 747 | (553) | |
Other comprehensive income (loss) | (2,810) | 1,027 | |
Unrealized gains (losses) on securities available for sale | |||
Comprehensive income | $ 8,927 | $ 6,167 | |
[1] | Amounts are included in gains on sale or call of securities on the consolidated condensed statements of income. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the three months ended March 31, 2018 and 2017 was $0 and $0, respectively. |
Consolidated Condensed Stateme6
Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Condensed Statement of Income Captions [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 0 | $ 0 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders’ Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Retained Earnings [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2016 | $ 293,017 | $ 0 | $ 127 | $ 126,390 | $ 215 | $ 240,591 | $ (74,306) |
Balance (in shares) at Dec. 31, 2016 | 8,983,206 | ||||||
Net income | 5,140 | 5,140 | |||||
Other comprehensive (loss) income | 1,027 | 1,027 | |||||
Stock based compensation expenses | 45 | 45 | |||||
Shares issued under stock option plan | 134 | 22 | (39) | 151 | |||
Shares issued under stock option plan (in shares) | 588 | ||||||
Capital stock issuance | 56,532 | 33,792 | 22,740 | ||||
Capital stock issuance (in shares) | 1,139,502 | ||||||
Restricted share activity under stock incentive plans | 525 | 138 | 387 | ||||
Restricted share activity under stock incentive plans (in shares) | 19,416 | ||||||
Shares issued from direct stock sales | 17 | 10 | 7 | ||||
Shares issued from direct stock sales (in shares) | 340 | ||||||
Common stock dividends declared | (2,246) | (2,246) | |||||
Balance at Mar. 31, 2017 | 354,191 | 0 | $ 127 | 160,397 | 1,242 | 243,446 | (51,021) |
Balance (in shares) at Mar. 31, 2017 | 10,143,052 | ||||||
Balance at Dec. 31, 2017 | 373,286 | 0 | $ 127 | 160,940 | 217 | 262,900 | (50,898) |
Balance (in shares) at Dec. 31, 2017 | 10,156,041 | ||||||
Net income | 11,737 | 11,737 | |||||
Other comprehensive (loss) income | (2,810) | (2,810) | |||||
Adoption of ASU 2018-02 - See Note 2 | 0 | 47 | (47) | ||||
Stock based compensation expenses | 84 | 84 | |||||
Shares issued under stock option plan | 56 | (33) | (36) | 125 | |||
Shares issued under stock option plan (in shares) | 5,638 | ||||||
Restricted share activity under stock incentive plans | (113) | (458) | (81) | 426 | |||
Restricted share activity under stock incentive plans (in shares) | 19,848 | ||||||
Shares issued from direct stock sales | 21 | 14 | 7 | ||||
Shares issued from direct stock sales (in shares) | 372 | ||||||
Common stock dividends declared | (3,047) | (3,047) | |||||
Balance at Mar. 31, 2018 | $ 379,214 | $ 0 | $ 127 | $ 160,547 | $ (2,546) | $ 271,426 | $ (50,340) |
Balance (in shares) at Mar. 31, 2018 | 10,181,899 |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Stockholders’ Equity (Parenthetical) - shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Restricted Stock [Member] | ||
Stock Repurchased and Retired (in shares) | 8,909 | |
Employee Stock Option [Member] | ||
Stock Repurchased and Retired (in shares) | 612 | 6,962 |
Consolidated Condensed Stateme9
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating Activities | ||
Net income | $ 11,737 | $ 5,140 |
Items not requiring (providing) cash | ||
Provision for loan losses | (1,095) | 55 |
Depreciation | 867 | 867 |
Amortization of mortgage servicing rights, net of impairment recoveries | 282 | 279 |
Amortization of core deposit and other intangible assets | 347 | 232 |
Net amortization (accretion)of premiums and discounts on loans and deposits | (52) | 27 |
Amortization of premiums and discounts on securities | 284 | 240 |
Change in deferred taxes | 20 | 777 |
Proceeds from the sale of loans held for sale | 44,399 | 48,356 |
Originations of loans held for sale | (44,474) | (45,977) |
Gain from sale of loans | (1,304) | (1,083) |
Loss on sale / write-down of real estate and other assets held for sale | 537 | 0 |
Stock option expense | 84 | 45 |
Restricted stock (income) expense | (113) | 525 |
Income from bank owned life insurance | (400) | (1,823) |
Excess tax benefit on stock compensation plans | (148) | (162) |
Changes in: | ||
Accrued interest receivable | (653) | (790) |
Other assets | (1,541) | (1,801) |
Other liabilities | 75 | 3,364 |
Net cash provided by operating activities | 8,852 | 8,271 |
Investing Activities | ||
Proceeds from maturities of held-to-maturity securities | 6 | 5 |
Proceeds from maturities, calls and pay-downs of available-for-sale securities | 5,860 | 5,960 |
Proceeds from sale of premises and equipment, real estate and other assets held for sale | 249 | 9 |
Proceeds from sale of non-mortgage loans | 4,050 | 9,880 |
Purchases of available-for-sale securities | (19,710) | (8,815) |
Proceeds from Federal Home Loan stock redemption | 3 | 0 |
Net cash received in acquisitions | 0 | 25,840 |
Investment in bank owned life insurance | 0 | (20,000) |
Proceeds from sale of bank owned life insurance | 17,689 | 0 |
Purchase of portfolio mortgage loans | 0 | (10,133) |
Purchases of premises and equipment, net | (476) | (1,278) |
Net increase in loans receivable | (12,335) | (12,851) |
Net cash used by investing activities | (4,664) | (11,383) |
Financing Activities | ||
Net increase in deposits and advance payments by borrowers | 53,631 | 83,369 |
Repayment of Federal Home Loan Bank advances | (23,278) | (242) |
Proceeds from Federal Home Loan Bank advances | 10,000 | 0 |
Decrease in securities sold under repurchase agreements | (16,698) | (6,925) |
Proceeds from exercise of stock options | 56 | 134 |
Proceeds from direct stock sales | 21 | 17 |
Cash dividends paid on common stock | (3,047) | (2,246) |
Net cash provided by financing activities | 20,685 | 74,107 |
Increase in cash and cash equivalents | 24,873 | 70,995 |
Cash and cash equivalents at beginning of period | 113,693 | 99,003 |
Cash and cash equivalents at end of period | 138,566 | 169,998 |
Supplemental cash flow information: | ||
Interest paid | 3,160 | 2,308 |
Income taxes paid | 0 | 0 |
Transfers from loans to real estate and other assets held for sale | 694 | 259 |
Securities purchased but not yet settled | 0 | 1,668 |
Sale of bank owned life insurance not yet settled | $ 0 | $ 17,840 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Basis of Presentation First Defiance Financial Corp. (“First Defiance” or the “Company”) is a unitary thrift holding company that conducts business through its three wholly owned subsidiaries, First Federal Bank of the Midwest (“First Federal” or the “Bank”), First Insurance Group of the Midwest, Inc. (“First Insurance”), and First Defiance Risk Management Inc. (“First Defiance Risk Management”). All significant intercompany transactions and balances are eliminated in consolidation. First Federal is primarily engaged in attracting deposits from the general public through its offices and using those and other available sources of funds to originate loans primarily in the counties in which its offices are located. First Federal’s traditional banking activities include originating and servicing residential, non-residential real estate, commercial, home improvement and home equity and consumer loans and providing a broad range of depository, trust and wealth management services. In addition, First Federal invests in U.S. Treasury and federal government agency obligations, obligations of the State of Ohio and its political subdivisions, mortgage-backed securities that are issued by federal agencies, including real estate mortgage investment conduits (“REMICs”) and collateralized mortgage obligations (“CMOs”), and corporate bonds. First Insurance is an insurance agency that conducts business through offices located in the Defiance, Sylvania, Bryan, Lima, Archbold, Fostoria, Tiffin, Findlay and Bowling Green, Ohio areas. First Insurance offers property and casualty insurance, life insurance and group health insurance. First Defiance Risk Management is a wholly-owned insurance company subsidiary of the Company that insures the Company and its subsidiaries against certain risks unique to the operations of the Company and for which insurance may not be currently available or economically feasible in today’s insurance marketplace. First Defiance Risk Management pools resources with several other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves. The consolidated condensed statement of financial condition at December 31, 2017, has been derived from the audited financial statements at that date, which were included in First Defiance’s Annual Report on Form 10-K for the year ended December 31, 2017. The accompanying consolidated condensed financial statements as of March 31, 2018, and for the three month periods ended March 31, 2018 and 2017 have been prepared by First Defiance without audit and do not include information or footnotes necessary for the complete presentation of financial condition, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States. These consolidated condensed financial statements should be read in conjunction with the financial statements and notes thereto included in First Defiance's 2017 Annual Report on Form 10-K for the year ended December 31, 2017. However, in the opinion of management, all adjustments, consisting of only normal recurring items, necessary for the fair presentation of the financial statements have been made. The results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the entire year. |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 2 Significant Accounting Policies The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Basic earnings per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities for the calculation. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options, restricted stock awards and stock grants. Goodwill resulting from business combinations prior to January 1, 2009, represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. The Company has selected November 30 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on First Defiance’s balance sheet. Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from whole bank, insurance and branch acquisitions. They are initially recorded at fair value and then amortized on an accelerated basis over their estimated lives, which range from five years for non-compete agreements to 10 20 In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies generally will be required to use more judgment and make more estimates than under current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Subsequent to the issuance of ASU 2014-09, the FASB issued targeted updates to clarify specific implementation issues including ASU No. 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU No. 2016-10, “Identifying Performance Obligations and Licensing,” ASU No. 2016-12, “Narrow-Scope Improvements and Practical Expedients,” and ASU No. 2016-20 “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” For financial reporting purposes, the standard allows for either full retrospective adoption, meaning the standard is applied to all of the periods presented, or modified retrospective adoption, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. Since the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the new guidance did not have a material impact on revenue most closely associated with financial instruments, including interest income and expense. The Company completed its overall assessment of revenue streams and review of related contracts potentially affected by the ASU, including trust and asset management fees, deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. Based on this assessment, the Company concluded that ASU 2014-09 did not materially change the method in which the Company currently recognizes revenue for these revenue streams. The Company adopted ASU 2014-09 and its related amendments on its required effective date of January 1, 2018, utilizing the modified retrospective approach. Since there was no net income impact upon adoption of the new guidance, a cumulative effect adjustment to opening retained earnings was not deemed necessary. See below for additional information related to revenue generated from contracts with customers. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” This ASU addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments by making targeted improvements to GAAP as follows: (1) require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer; (2) simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value; (3) eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities; (4) eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; (5) require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (6) require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (7) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans receivable) on the balance sheet or the accompanying notes to the financial statements; and (8) clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The adoption of ASU No. 2016-01 on January 1, 2018, did not have a material impact on the Company’s Consolidated Financial Statements. Also in conjunction with the adoption, our fair value measurement of financial instruments will be based upon an exit price notion as required in ASU 2016-01. The guidance was applied on a prospective approach resulting in prior-periods no longer being comparable. In February 2018, the FASB issued ASU No. 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” This ASU allows a reclassification from accumulated other comprehensive income (“AOCI”) to retained earnings for certain income tax effects stranded in AOCI as a result of the Tax Act. Consequently, the reclassification eliminates the stranded tax effects resulting from the Tax Act and is intended to improve the usefulness of information reported to financial statement users. However, because the ASU only relates to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires the effect of a change in tax laws or rates to be included in income from continuing operations is not affected. The Company adopted ASU No. 2018-02 during the first quarter of 2018, and elected to reclassify the income tax effects of the Tax Act from AOCI to retained earnings. The reclassification increased AOCI and decreased retained earnings by $ 47 In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The objective of the update is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company has not yet selected a transition method as it is in the process of determining the effect of the ASU on its consolidated financial statements and disclosures. The Company has several lease agreements, such as branch locations, which are currently considered operating leases, and therefore, not recognized on the Company’s consolidated condensed statements of financial condition. The Company expects the new guidance will require these lease agreements to now be recognized on the consolidated condensed statements of financial condition as a right-of-use asset and a corresponding lease liability. Therefore, the Company’s preliminary evaluation indicates the provisions of ASU No. 2016-02 are expected to impact the Company’s consolidated condensed statements of financial condition, along with our regulatory capital ratios. However, the Company continues to evaluate the extent of potential impact the new guidance will have on the Company’s consolidated financial statements. At March 31, 2018, the Company had contractual operating lease commitments of approximately $ 11.0 In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606"), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The majority of our revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other GAAP discussed elsewhere within our disclosures. Descriptions of our revenue-generating activities that are within the scope of ASC 606, which are presented in our income statements as components of non-interest income are as follows: · Service charges on deposit accounts - these represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. Service charges on deposit accounts that are within the scope of ASC 606 were $2.1 million in the first quarter of 2018. Income from services charges on deposit accounts is included in service fees and other charges in non-interest income. · Interchange income this represents fees earned from debit cardholder transactions. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrent with the transaction processing services provided to the cardholder. Interchange fees in the first quarter of 2018, which are reported net of network related charges, was $982,000. Interchange income is included in service fees and other charges in non-interest income. · Wealth management and trust fee income - this represents monthly fees due from wealth management customers as consideration for managing the customers' assets. Wealth management and trust services include custody of assets, investment management, escrow services, fees for trust services and similar fiduciary activities. Revenue is recognized when our performance obligation is completed each month, which is generally the time that payment is received. Also included are fees received from a third party broker-dealer as part of a revenue-sharing agreement for fees earned from customers that we refer to the third party. These fees are paid to us by the third party on a quarterly basis and recognized ratably throughout the quarter as our performance obligation is satisfied. Revenue from wealth management and trust services were $214,000 and $551,000, respectively, in the first quarter of 2018. Income from wealth management services is included in other income in non-interest income. · Gain/loss on sales of OREO the Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain or loss on sale if a significant financing component is present. Income from the gain/loss on sales of OREO was $7,000 in the first quarter of 2018. Income from the gain or loss on sales of OREO is included in other income in non-interest income. · Insurance commissions - this represents new commissions that are recognized when the Company sells insurance policies to customers. The Company is also entitled to renewal commissions and, in some cases, contingent commissions in the form of profit sharing which are recognized in subsequent periods. The initial commission is recognized when the insurance policy is sold to a customer. Renewal commission is variable consideration and is recognized in subsequent periods when the uncertainty around variable consideration is subsequently resolved (i.e., when customer renews the policy). Contingent commission is also a variable consideration that is not recognized until the variability surrounding realization of revenue is resolved. Another source of variability is the ability of the policy holder to cancel the policy anytime and in such cases, the Company may be required, under the terms of the contract, to return part of the commission received. The variability related to cancellation of the policy is not deemed significant and thus, does not impact the amount of revenue recognized. In the event the policyholder chooses to cancel the policy at any time, the revenue for amounts which qualify for claw-back are reversed in the period the cancellation occurs. Management views the income sources from insurance commissions in two categories: 1) new/renewal commissions and 2) contingent commissions. Insurance commissions were $4.3 million in the first quarter of 2018 of which, $3.3 million were new/renewal commissions and $1.0 million were contingent commissions. |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 3. Fair Value FASB ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. The methods of determining the fair value of assets and liabilities presented in this note are consistent with our methodologies disclosed in Note 22 of the Company’s 2017 Form 10-K, except for the valuation of loans which was impacted by the adoption of ASU 2016-01. Prior to adopting the amendments included in the standard, the Company was permitted to measure fair value under an entry price notion. The entry price notion previously applied by the Company used a discounted cash flows technique to calculate the present value of expected future cash flows for a financial instrument. The exit price notion uses the same approach, but also incorporates other factors, such as enhanced credit risk, illiquidity risk and market factors that sometimes exist in exit prices in dislocated markets. As of March 31, 2018, the technique used by the Company to estimate the exit price of the loan portfolio consists of similar procedures to those used as of December 31, 2017, but with added emphasis on both illiquidity risk and credit risk not captured by the previously applied entry price notion. This credit risk assumption is intended to approximate the fair value that a market participant would realize in a hypothetical orderly transaction. In that regard, FASB ASC Topic 820 established a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ⋅ Level 1 ⋅ Level 2 ⋅ Level 3 A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Available for sale securities Impaired loans - Fair values for impaired collateral dependent loans are generally based on appraisals obtained from licensed real estate appraisers and in certain circumstances consideration of offers obtained to purchase properties prior to foreclosure. Appraisals for commercial real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value on the cost to replace the current property. Value of market comparison approach evaluates the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and an investors required return. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Comparable sales adjustments are based on known sales prices of similar type and similar use properties and duration of time that the property has been on the market to sell. Such adjustments made in the appraisal process are typically significant and result in a Level 3 classification of the inputs for determining fair value. Real Estate held for sale - Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are then reviewed monthly by members of the asset review committee for valuation changes and are accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which may utilize a single valuation approach or a combination of approaches including cost, comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments may be significant and typically result in a Level 3 classification of the inputs for determining fair value. Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Company’s asset quality or collections department reviews the assumptions and approaches utilized in the appraisal. Appraisal values are discounted from 0 30 Mortgage servicing rights Mortgage banking derivative The following table summarizes the financial assets measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured on a Recurring Basis March 31, 2018 Level 1 Level 2 Level 3 Total Fair (In Thousands) Available for sale securities: Obligations of U.S. government corporations and agencies $ - $ 2,501 $ - $ 2,501 Mortgage-backed - residential - 62,418 - 62,418 REMICs - 1,020 - 1,020 Collateralized mortgage obligations- residential - 95,192 - 95,192 Corporate bonds - 13,042 - 13,042 Obligations of state and political subdivisions - 95,937 - 95,937 Mortgage banking derivative - asset - 652 - 652 Mortgage banking derivative -liability - 12 - 12 December 31, 2017 Level 1 Level 2 Level 3 Total Fair (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 508 $ - $ 508 Mortgage-backed - residential - 59,269 - 59,269 REMICs - 1,065 - 1,065 Collateralized mortgage obligations-residential - 93,876 - 93,876 Preferred stock 1 - - 1 Corporate bonds - 13,103 - 13,103 Obligations of state and political subdivisions - 92,828 92,828 Mortgage banking derivative - asset - 609 - 609 Mortgage banking derivative -liability - 11 - 11 The following table summarizes the financial assets measured at fair value on a non-recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured on a Non-Recurring Basis March 31, 2018 Level 1 Level 2 Level 3 Total Fair (In Thousands) Impaired loans Commercial Real Estate $ - $ - $ - $ - Commercial - - - - Total Impaired loans - - - - Mortgage servicing rights - 539 - 539 Real estate held for sale Commercial Real Estate - - 705 705 Total Real Estate held for sale - - 705 705 December 31, 2017 Level 1 Level 2 Level 3 Total Fair (In Thousands) Impaired loans Commercial Real Estate $ - - $ 1,787 $ 1,787 Commercial 2,817 2,817 Total impaired loans - - 4,604 4,604 Mortgage servicing rights - 534 - 534 Commercial Real Estate - - 227 227 Total Real Estate held for sale - - 227 227 For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of March 31, 2018, the significant unobservable inputs used in the fair value measurements were as follows: Fair Valuation Technique Unobservable Inputs Range of Weighted (Dollars in Thousands) Real estate held for sale Applies to all classes $ 705 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 20 % 20 % For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2017, the significant unobservable inputs used in the fair value measurements were as follows: Fair Valuation Technique Unobservable Inputs Range of Weighted (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 4,604 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-20 % 10 % Real estate held for sale Applies to all classes $ 227 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 0 % 0 % There were no impaired loans which were measured for impairment using the fair value of collateral at March 31, 2018. Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a fair value of $ 4.6 134,000 March 31, 2018 Mortgage servicing rights which are carried at the lower of cost or fair value, had a fair value of $539,000 with a valuation allowance of $ 395,000 534,000 432,000 33,000 Real estate held for sale is determined using Level 3 inputs which include appraisals and are adjusted for estimated costs to sell. The change in fair value of real estate held for sale was $ 544,000 In accordance with FASB ASC Topic 825, the Fair Value Measurements tables are a comparative condensed consolidated statement of financial condition based on carrying amount and estimated fair values of financial instruments as of March 31, 2018, and December 31, 2017. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of First Defiance. Much of the information used to arrive at “fair value” is highly subjective and judgmental in nature and therefore the results may not be precise. Subjective factors include, among other things, estimated cash flows, risk characteristics and interest rates, all of which are subject to change. With the exception of investment securities, the Company’s financial instruments are not readily marketable and market prices do not exist. Since negotiated prices for the instruments, which are not readily marketable, depend greatly on the motivation of the buyer and seller, the amounts that will actually be realized or paid per settlement or maturity of these instruments could be significantly different. The carrying amount of cash and cash equivalents and notes payable, as a result of their short-term nature, is considered to be equal to fair value and are classified as Level 1. It was not practicable to determine the fair value of Federal Home Loan Bank (“FHLB”) stock due to restrictions placed on its transferability. The Company adopted the amendments to ASU 2016-01 relating to the loan portfolio for the quarter ended March 31, 2018 and an exit price income approach was used to determine the fair value. The loans were valued on an individual basis, with consideration given to the loans' underlying characteristics, including account types, remaining terms (in months), annual interest rates or coupons, interest types, past delinquencies, timing of principal and interest payments, current market rates, loss exposures, and remaining balances. The model utilizes a discounted cash flow approach to estimate the fair value of the loans using assumptions for the coupon rates, remaining maturities, prepayment speeds, projected default probabilities, losses given defaults, and estimates of prevailing discount rates. The discounted cash flow approach models the credit losses directly in the projected cash flows. The model applies various assumptions regarding credit, interest, and prepayment risks for the loans based on loan types, payment types and fixed or variable classifications. As of December 31, 2017, the fair value was estimated by discounting the future cash flows using the rates at which similar notes would be written for the same remaining maturities or an entry price income approach. The market rates used were based on current rates the Company would impose for similar loans and reflect a market participant assumption about risks associated with non-performance, illiquidity, and the structure and term of the loans along with local economic and market conditions. For all periods presented, the estimated fair value of impaired loans is based on the fair value of the collateral, less estimated cost to sell, or the present value of the loan’s expected future cash flows (discounted at the loan’s effective interest rate). All impaired loans are classified as Level 3 and all other loans are classified as Level 2 within the valuation hierarchy. The fair value of accrued interest receivable is equal to the carrying amounts resulting in a Level 2 or Level 3 classification which is consistent with its underlying value. The fair value of non-interest bearing deposits are considered equal to the amount payable on demand at the reporting date (i.e. carrying value) and are classified as Level 1. The fair value of savings, NOW and certain money market accounts are equal to their carrying amounts and are a Level 2 classification. Fair values of fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. The fair values of securities sold under repurchase agreements are equal to their carrying amounts resulting in a Level 2 classification. The carrying value of subordinated debentures and deposits with fixed maturities is estimated based discounted cash flow analyses based on interest rates currently being offered on instruments with similar characteristics and maturities resulting in a Level 3 classification. FHLB advances with maturities greater than 90 days are valued based on discounted cash flow analysis, using interest rates currently being quoted for similar characteristics and maturities resulting in a Level 2 classification. The cost or value of any call or put options is based on the estimated cost to settle the option at March 31, 2018. Fair Value Measurements at March 31, 2018 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 138,566 $ 138,566 $ 138,566 $ - $ - Investment securities 270,752 270,752 - 270,752 - Federal Home Loan Bank Stock 15,989 N/A N/A N/A N/A Loans, including loans held for sale 2,369,596 2,318,895 - 11,674 2,307,221 Accrued interest receivable 9,359 9,359 9 1,510 7,840 Financial Liabilities: Deposits $ 2,491,801 $ 2,483,228 $ 550,742 $ 1,932,486 $ - Advances from Federal Home Loan Bank 71,001 69,665 - 69,665 - Securities sold under repurchase agreements 9,321 9,321 - 9,321 - Subordinated debentures 36,083 35,558 - - 35,558 Fair Value Measurements at December 31, 2017 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 113,693 $ 113,693 $ 113,693 $ - $ - Investment securities 261,298 261,299 1 261,298 - Federal Home Loan Bank Stock 15,992 N/A N/A N/A N/A Loans, net, including loans held for sale 2,332,465 2,315,791 - 10,830 2,304,961 Accrued interest receivable 8,706 8,706 13 917 7,776 Financial Liabilities: Deposits $ 2,437,656 $ 2,444,683 $ 571,360 $ 1,873,323 $ - Advances from Federal Home Loan Bank 84,279 83,261 - 83,261 - Securities sold under repurchase agreements 26,019 26,019 - 26,019 - Subordinated debentures 36,083 35,385 - - 35,385 |
Stock Compensation Plans
Stock Compensation Plans | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 4. Stock Compensation Plans First Defiance has established equity based compensation plans for its directors and employees. On March 15, 2010, the Board adopted, and the shareholders approved at the 2010 Annual Shareholders Meeting, the First Defiance Financial Corp. 2010 Equity Incentive Plan (the “2010 Equity Plan”). The 2010 Equity Plan replaced all existing plans although the Company’s former equity plans remain in existence to the extent there were outstanding grants thereunder at the time the 2010 Equity Plan was approved. All awards currently outstanding under prior plans will remain in effect in accordance with their respective terms. Any new awards will be made under the 2010 Equity Plan. The 2010 Equity Plan allows for issuance of up to 350,000 As of March 31, 2018, 37,200 20 All options expire ten years from the date of grant. Vested options of retirees expire on the earlier of the scheduled expiration date or three months after the retirement date. Annually, the Company approves a Short-Term (“STIP”) Equity Incentive Plan and a Long-Term (“LTIP”) Equity Incentive Plan for selected members of management. Under the 2017 and 2018 STIPs, the participants could earn up to 10 45 The final amount of benefits under the STIPs is determined as of December 31 of the same year and paid out in cash in the first quarter of the following year. Under each LTIP, the participants may earn up to 20 45 24,526 20,657 20,838 The amount of benefit under each LTIP will be determined individually at the end of the 36 month performance period ending December 31. The benefits earned under each LTIP will be paid out in equity in the first quarter following the end of the performance period. The participants are required to be employed on the day of payout in order to receive such payment. A total of 24,757 In the three months ended March 31, 2018, the Company also granted to employees 7,578 3,578 4,000 The fair value of each option award is estimated on the date of grant using the Black-Scholes model. Expected volatilities are based on historical volatilities of the Company’s common stock. The Company uses historical data to estimate option exercise and post-vesting termination behavior. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. There were no options granted during the three months ended March 31, 2018, or March 31, 2017. Options Weighted Weighted Aggregate Options outstanding, January 1, 2018 43,450 $ 21.62 Forfeited or cancelled - - Exercised (6,250) 15.53 Granted - - Options outstanding, March 31, 2018 37,200 $ 22.60 3.32 $ 1,291 Vested or expected to vest at March 31, 2018 37,200 $ 22.60 3.32 $ 1,291 Exercisable at March 31, 2018 29,450 $ 19.74 2.36 $ 1,107 Three Months Ended March 31, 2018 2017 Proceeds of options exercised $ 56 $ 134 Related tax benefit recognized 21 44 Intrinsic value of options exercised 253 200 As of March 31, 2018, there was $ 90,000 2.1 . At March 31, 2018, 72,197 14,536 565,000 849,000 211,000 774,000 Restricted Stock Units Stock Grants Weighted-Average Weighted-Average Grant Date Grant Date Unvested Shares Shares Fair Value Shares Fair Value Unvested at January 1, 2018 72,538 $ 40.52 10,536 $ 50.56 Granted 24,416 53.94 28,757 35.79 Vested (24,757) 32.30 (24,757) 32.30 Forfeited - - - - Unvested at March 31, 2018 72,197 $ 47.87 14,536 $ 52.44 The maximum amount of compensation expense that may be recorded for the 2018 STIP and the 2016, 2017 and 2018 LTIPs at March 31, 2018, is approximately $ 3.9 3.6 2.0 |
Dividends on Common Stock
Dividends on Common Stock | 3 Months Ended |
Mar. 31, 2018 | |
Dividends, Common Stock [Abstract] | |
Dividend on Common Stock [Text Block] | 5. Dividends on Common Stock First Defiance declared and paid a $ 0.30 0.25 |
Earnings Per Common Share
Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 6. Earnings Per Common Share Basic earnings per share are calculated using the two-class method. The two-class method is an earnings allocation formula under which earnings per share is calculated from common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings distributed and undistributed, are allocated to participating securities and common shares based on their respective rights to receive dividends. Unvested share-based payment awards that contain non-forfeitable rights to dividends are considered participating securities (i.e. unvested restricted stock), not subject to performance based measures. The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended 2018 2017 (In Thousands, except per Basic Earnings Per Share: Net income available to common shareholders $ 11,737 $ 5,140 Less: Income allocated to participating securities 3 1 Net income allocated to common shareholders 11,734 5,139 Weighted average common shares outstanding Including participating securities 10,176 9,446 Less: Participating securities 11 5 Average common shares 10,165 9,441 Basic earnings per common share $ 1.15 $ 0.54 Diluted Earnings Per Share: Net income allocated to common shareholders $ 11,734 $ 5,139 Weighted average common shares outstanding for basic earnings per common share 10,165 9,441 Add: Dilutive effects of stock options 54 56 Average shares and dilutive potential common shares 10,219 9,497 Diluted earnings per common share $ 1.15 $ 0.54 Shares subject to issue upon exercise of options of 3,500 4,569 |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2018 | |
Marketable Securities [Abstract] | |
Investment [Text Block] | 7. Investment Securities The following is a summary of available-for-sale and held-to-maturity securities: Amortized Gross Gross Fair Value (In Thousands) At March 31, 2018 Available-for-Sale Securities: Obligations of U.S. government corporations and agencies $ 2,518 $ - $ (17) $ 2,501 Mortgage-backed securities residential 64,093 57 (1,732) 62,418 REMICs 1,025 - (5) 1,020 Collateralized mortgage obligations 97,115 46 (1,969) 95,192 Corporate bonds 12,913 129 - 13,042 Obligations of state and political subdivisions 95,080 1,711 (854) 95,937 Total Available-for-Sale $ 272,744 $ 1,943 $ (4,577) $ 270,110 Amortized Gross Gross Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 9 $ - $ - $ 9 FNMA certificates 38 - - 38 GNMA certificates 15 - - 15 Obligations of state and political subdivisions 580 - - 580 Total Held-to Maturity $ 642 $ - $ - $ 642 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) At December 31, 2017 Available-for-sale Obligations of U.S. government corporations and agencies $ 518 $ - $ (10) $ 508 Mortgage-backed securities - residential 59,942 90 (763) 59,269 REMICs 1,072 - (7) 1,065 Collateralized mortgage obligations 94,588 180 (892) 93,876 Preferred stock - 1 - 1 Corporate bonds 12,914 189 - 13,103 Obligations of state and political subdivisions 90,692 2,426 (290) 92,828 Total Available-for-Sale $ 259,726 $ 2,886 $ (1,962) $ 260,650 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In Thousands) Held-to-Maturity* FHLMC certificates $ 10 $ - $ - $ 10 FNMA certificates 41 1 - 42 GNMA certificates 17 - - 17 Obligations of states and political subdivisions 580 - - 580 Total Held-to-Maturity $ 648 $ 1 $ - $ 649 * FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. The amortized cost and fair value of the investment securities portfolio at March 31, 2018, are shown below by contractual maturity. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the maturity table, mortgage-backed securities (“MBS”), collateralized mortgage obligations (“CMO”) and REMICs, which are not due at a single maturity date, have not been allocated over the maturity groupings. Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Due in one year or less $ 1,408 $ 1,420 $ - $ - Due after one year through five years 22,370 22,694 62 62 Due after five years through ten years 38,284 39,267 518 518 Due after ten years 48,449 48,099 - - MBS/CMO/REMIC 162,233 158,630 62 62 $ 272,744 $ 270,110 $ 642 $ 642 Investment securities with a carrying amount of $ 151.6 As of March 31, 2018, the Company’s investment portfolio consisted of 425 167 Duration of Unrealized Loss Position Less than 12 Months 12 Months or Longer Total Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loses (In Thousands) At March 31, 2018 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 501 $ (17) $ - $ - $ 501 $ (17) Mortgage-backed securities-residential 36,935 (865) 18,210 (867) 55,145 (1,732) REMICs 1,020 (5) - - 1,020 (5) Collateralized mortgage obligations 73,810 (1,214) 16,646 (755) 90,456 (1,969) Obligations of state and political subdivisions 24,030 (641) 3,285 (213) 27,315 (854) Total temporarily impaired securities $ 136,296 $ (2,742) $ 38,141 $ (1,835) $ 174,437 $ (4,577) Duration of Unrealized Loss Position Less than 12 Months 12 Months or Longer Total Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loses (In Thousands) At December 31, 2017 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ - $ - $ 508 $ (10) $ 508 $ (10) Mortgage-backed securities-residential 27,881 (215) 19,038 (548) 46,919 (763) REMICs 1,065 (7) - - 1,065 (7) Collateralized mortgage obligations 49,107 (320) 20,804 (572) 69,911 (892) Obligations of state and political subdivisions 14,249 (163) 3,370 (127) 17,619 (290) Held to maturity securities: 12 - 9 - 21 - Total temporarily impaired securities $ 92,314 $ (705) $ 43,729 $ (1,257) $ 136,043 $ (1,962) There were no realized gains from the sales and calls of investment securities in the first quarter of 2018 or in the first quarter of 2017. Management evaluates securities for other-than-temporary impairment (“OTTI”) at least quarterly, and more frequently when economic or market conditions warrant such an evaluation. The investment portfolio is evaluated for OTTI by segregating the portfolio into two general segments. Investment securities classified as available-for-sale or held-to-maturity are generally evaluated for OTTI under FASB ASC Topic 320. Certain collateralized debt obligations (“CDOs”) are evaluated for OTTI under FASB ASC Topic 325, Investment Other. When OTTI occurs under either model, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss. If an entity intends to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current period loss, the OTTI shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected compared to the book value of the security and is recognized in earnings. The amount of OTTI related to other factors shall be recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings shall become the new amortized cost basis of the investment. With the exception of corporate bonds, the above securities all have fixed interest rates, and all securities have defined maturities. Their fair value is sensitive to movements in market interest rates. First Defiance has the ability and intent to hold these investments for a time necessary to recover the amortized cost without impacting its liquidity position and it is not more than likely that the Company will be required to sell the investments before anticipated recovery. In the first quarter of 2018 and 2017, management determined there was no OTTI. There were no sales or calls of securities during the three months ended March 31, 2018 or 2017. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2018 | |
Loans Receivable, Net [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Loans Loans receivable consist of the following: March 31, 2018 December 31, 2017 (In Thousands) Real Estate: Secured by 1-4 family residential $ 275,547 $ 274,862 Secured by multi-family residential 270,733 248,092 Secured by commercial real estate 1,011,294 987,129 Construction 251,944 265,476 1,809,518 1,775,559 Other Loans: Commercial 500,496 526,142 Home equity and improvement 133,407 135,457 Consumer finance 28,035 29,109 661,938 690,708 Total loans 2,471,456 2,466,267 Deduct: Undisbursed loan funds (111,450 ) (115,972 ) Net deferred loan origination fees and costs (1,676 ) (1,582 ) Allowance for loan loss (27,267 ) (26,683 ) Totals $ 2,331,063 $ 2,322,030 Loan segments have been identified by evaluating the portfolio based on collateral and credit risk characteristics. The following table discloses allowance for loan loss activity for the quarters ended March 31, 2018 and 2017 by portfolio segment (In Thousands): Quarter Ended March, 2018 1-4 Family Multi- Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,532 $ 2,702 $ 10,354 $ 647 $ 7,965 $ 2,255 $ 228 $ 26,683 Charge-Offs (16 ) 0 (55 ) 0 (97 ) (117 ) (31 ) (316 ) Recoveries 24 0 184 0 1,757 28 2 1,995 Provisions (6 ) 281 290 20 (1,787 ) 43 64 (1,095 ) Ending Allowance $ 2,534 $ 2,983 $ 10,773 $ 667 $ 7,838 $ 2,209 $ 263 $ 27,267 Quarter Ended March 31, 2017 1-4 Family Multi- Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Charge-Offs (49 ) 0 (290 ) 0 0 (54 ) (71 ) (464 ) Recoveries 56 32 34 0 115 33 4 274 Provisions (13 ) (138 ) (159 ) 8 333 (65 ) 89 55 Ending Allowance $ 2,621 $ 2,122 $ 10,210 $ 458 $ 7,809 $ 2,300 $ 229 $ 25,749 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of March 31, 2018 (In Thousands): 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 218 $ 2 $ 164 $ - $ 83 $ 312 $ - $ 779 Collectively evaluated for impairment 2,316 2,981 10,609 667 7,755 1,897 263 26,488 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,534 $ 2,983 $ 10,773 $ 667 $ 7,838 $ 2,209 $ 263 $ 27,267 Loans: Loans individually evaluated for impairment $ 7,117 $ 2,042 $ 30,070 $ - $ 10,328 $ 1,463 $ 36 $ 51,056 Loans collectively evaluated for impairment 267,814 268,745 982,263 140,221 491,616 132,707 28,062 2,311,428 Loans acquired with deteriorated credit quality 1,045 300 2,024 - 318 - - 3,687 Total ending loans balance $ 275,976 $ 271,087 $ 1,014,357 $ 140,221 $ 502,262 $ 134,170 $ 28,098 $ 2,366,171 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2017 (In Thousands): 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 167 $ 7 $ 118 $ - $ 187 $ 279 $ - $ 758 Collectively evaluated for impairment 2,365 2,695 10,236 647 7,778 1,976 228 25,925 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,532 $ 2,702 $ 10,354 $ 647 $ 7,965 $ 2,255 $ 228 $ 26,683 Loans: Loans individually evaluated for impairment $ 6,910 $ 2,278 $ 31,821 $ - $ 14,373 $ 1,176 $ 50 $ 56,608 Loans collectively evaluated for impairment 267,377 245,823 956,238 149,174 513,218 135,098 29,125 2,296,053 Loans acquired with deteriorated credit quality 1,069 301 2,121 - 337 - - 3,828 Total ending loans balance $ 275,356 $ 248,402 $ 990,180 $ 149,174 $ 527,928 $ 136,274 $ 29,175 $ 2,356,489 The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended March 31, 2018 Average Balance Interest Income Recognized Cash Basis Income Recognized Residential Owner Occupied $ 4,639 $ 32 $ 31 Residential Non Owner Occupied 2,509 44 41 Total Residential Real Estate 7,148 76 72 Construction - - - Multi-Family 2,049 27 26 CRE Owner Occupied 13,225 44 35 CRE Non Owner Occupied 3,482 34 34 Agriculture Land 11,516 95 42 Other CRE 1,486 25 20 Total Commercial Real Estate 29,709 198 131 Commercial Working Capital 5,208 24 24 Commercial Other 5,100 25 23 Total Commercial 10,308 49 47 Home Equity and Improvement 1,474 11 11 Consumer Finance 39 1 1 Total Impaired Loans $ 50,727 $ 362 $ 288 The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended March 31, 2017 Average Balance Interest Income Recognized Cash Basis Income Recognized Residential Owner Occupied $ 2,820 $ 28 $ 28 Residential Non Owner Occupied 3,891 36 36 Total Residential Real Estate 6,711 64 64 Construction 3,374 10 10 Multi-Family 4,614 22 22 CRE Owner Occupied 4,499 42 39 CRE Non Owner Occupied 2,707 47 19 Agriculture Land 1,668 13 12 Other CRE 13,488 124 92 Total Commercial Real Estate - - - Commercial Working Capital 2,372 19 19 Commercial Other 1,722 21 16 Total Commercial 4,094 40 35 Home Equity and Improvement 1,254 10 10 Consumer Finance 74 1 1 Total Impaired Loans $ 28,995 $ 249 $ 212 The following table presents loans individually evaluated for impairment by class of loans (In Thousands): March 31, 2018 December 31, 2017 Unpaid Principal Balance* Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance* Recorded Investment Allowance for Loan Losses Allocated With no allowance recorded: Residential Owner Occupied $ 2,744 $ 2,597 $ - $ 2,507 $ 2,364 $ - Residential Non Owner Occupied 1,468 1,464 - 1,711 1,708 - Total 1-4 Family Residential Real Estate 4,212 4,061 - 4,218 4,072 - Multi-Family Residential Real Estate 1,863 1,870 - 2,095 2,102 - CRE Owner Occupied 11,847 11,387 - 12,273 11,804 - CRE Non Owner Occupied 3,035 2,873 - 3,085 2,925 - Agriculture Land 11,682 11,860 - 13,029 13,185 - Other CRE 959 748 - 981 768 - Total Commercial Real Estate 27,523 26,868 - 29,368 28,682 - Construction - - - - - - Commercial Working Capital 4,888 4,815 - 5,462 5,422 - Commercial Other 4,744 4,757 - 9,916 7,644 - Total Commercial 9,632 9,572 - 15,378 13,066 - Home Equity and Home Improvement 614 569 - 630 584 - Consumer Finance 36 36 - 42 42 - Total loans with no allowance recorded $ 43,880 $ 42,976 $ - $ 51,731 $ 48,548 $ - With an allowance recorded: Residential Owner Occupied $ 1,998 $ 1,978 $ 144 $ 1,841 $ 1,814 $ 137 Residential Non Owner Occupied 1,076 1,078 74 1,031 1,024 30 Total 1-4 Family Residential Real Estate 3,074 3,056 218 2,872 2,838 167 Multi-Family Residential Real Estate 171 172 2 175 176 7 CRE Owner Occupied 2,077 1,616 50 2,007 1,546 44 CRE Non Owner Occupied 644 584 42 651 593 28 Agriculture Land 287 284 32 293 292 14 Other CRE 916 718 40 909 708 32 Total Commercial Real Estate 3,924 3,202 164 3,860 3,139 118 Construction - - - - - - Commercial Working Capital 458 461 62 447 449 77 Commercial Other 293 295 21 854 858 110 Total Commercial 751 756 83 1,301 1,307 187 Home Equity and Home Improvement 898 894 312 596 592 279 Consumer Finance - - - 8 8 - Total loans with an allowance recorded $ 8,818 $ 8,080 $ 779 $ 8,812 $ 8,060 $ 758 * Presented gross of charge offs The following table presents the current balance of the aggregate amounts of non-performing assets, comprised of non-performing loans and real estate owned on the dates indicated: March 31, 2018 December 31, (In Thousands) Non-accrual loans $ 27,925 $ 30,715 Loans over 90 days past due and still accruing - - Total non-performing loans 27,925 30,715 Real estate and other assets held for sale 1,440 1,532 Total non-performing assets $ 29,365 $ 32,247 Troubled debt restructuring, still accruing $ 13,722 $ 13,770 The following table presents the aging of the recorded investment in past due and non- accrual loans as of March 31, 2018, by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Total Residential Owner Occupied $ 177,799 $ 537 $ 259 $ 933 $ 1,729 $ 2,111 Residential Non Owner Occupied 96,275 76 - 97 173 342 Total 1-4 Family Residential Real Estate 274,074 613 259 1,030 1,902 2,453 Multi-Family Residential Real Estate 271,087 - - - - 124 CRE Owner Occupied 407,019 592 76 847 1,515 10,170 CRE Non Owner Occupied 424,247 1,074 29 263 1,366 2,164 Agriculture Land 130,940 82 - 208 290 4,275 Other Commercial Real Estate 48,868 13 - 99 112 611 Total Commercial Real Estate 1,011,074 1,761 105 1,417 3,283 17,220 Construction 140,221 - - - - - Commercial Working Capital 229,844 209 - 100 309 3,550 Commercial Other 271,422 49 - 638 687 3,620 Total Commercial 501,266 258 - 738 996 7,170 Home Equity/Home Improvement 133,552 29 7 582 618 909 Consumer Finance 27,764 199 96 39 334 39 Total Loans $ 2,359,038 $ 2,860 $ 467 $ 3,806 $ 7,133 $ 27,915 The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2017, by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Total Residential Owner Occupied $ 175,139 $ 821 $ 1,033 $ 1,227 $ 3,081 $ 2,510 Residential Non Owner Occupied 96,400 495 8 233 736 520 Total 1-4 Family Residential Real Estate 271,539 1,316 1,041 1,460 3,817 3,030 Multi-Family Residential Real Estate 247,980 422 - - 422 128 CRE Owner Occupied 393,125 195 188 1,268 1,651 10,775 CRE Non Owner Occupied 403,656 1 91 424 516 2,431 Agriculture Land 131,753 412 - 66 478 4,144 Other Commercial Real Estate 58,784 13 - 204 217 734 Total Commercial Real Estate 987,318 621 279 1,962 2,862 18,084 Construction 149,174 - - - - - Commercial Working Capital 233,632 102 1,264 876 2,242 2,369 Commercial Other 291,455 82 - 517 599 6,474 Total Commercial 525,087 184 1,264 1,393 2,841 8,843 Home Equity and Home Improvement 133,144 2,490 434 206 3,130 591 Consumer Finance 28,800 293 80 2 375 27 Total Loans $ 2,343,042 $ 5,326 $ 3,098 $ 5,023 $ 13,447 $ 30,703 Troubled Debt Restructurings As of March 31, 2018, and December 31, 2017, the Company had a recorded investment in troubled debt restructurings (“TDRs”) of $20.4 million and $21.7 million, respectively. The Company allocated $686,000 and $751,000 of specific reserves to those loans at March 31, 2018, and December 31, 2017, and had committed to lend additional amounts totaling up to $769,000 and $242,000 at March 31, 2018, and December 31, 2017, respectively. The Company offers various types of concessions when modifying a loan, however, forgiveness of principal is rarely granted. Each TDR is uniquely designed to meet the specific needs of the borrower. Commercial and industrial loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral or an additional guarantor is often requested when granting a concession. Commercial mortgage loans modified in a TDR often involve temporary interest-only payments, re-amortization of remaining debt in order to lower payments, and sometimes reducing the interest rate lower than the current market rate. Residential mortgage loans modified in a TDR are comprised of loans where monthly payments are lowered, either through interest rate reductions or principal only payments for a period of time, to accommodate the borrowers’ financial needs, interest is capitalized into principal, or the term and amortization are extended. Home equity modifications are made infrequently and usually involve providing an interest rate that is lower than the borrower would be able to obtain due to credit issues. All retail loans where the borrower is in bankruptcy are classified as TDRs regardless of whether or not a concession is made. Of the loans modified in a TDR, as of March 31, 2018, $6.6 million were on non-accrual status and partial charge-offs have in some cases been taken against the outstanding balance. Loans modified as a TDR may have the financial effect of increasing the allowance associated with the loan. If the loan is determined to be collateral dependent, the estimated fair value of the collateral, less any selling costs is used to determine if there is a need for a specific allowance or charge-off. If the loan is determined to be cash flow dependent, the allowance is measured based on the present value of expected future cash flows discounted at the loan’s pre-modification effective interest rate. The following table present loans by class modified as TDRs that occurred during the three month periods ending March 31, 2018, and March 31, 2017: Loans Modified as a TDR for the Three Months Ended March 31, 2018 ($ in thousands) Loans Modified as a TDR for the Three Months Ended March 31, 2017 ($ in thousands) Troubled Debt Restructurings Number of Loans Recorded Investment (as of period end) Number of Loans Recorded Investment (as of period end) 1-4 Family Owner Occupied 3 $ 145 4 $ 100 1-4 Family Non Owner Occupied 1 69 2 84 Multi Family 0 - 0 - CRE Owner Occupied 2 650 1 119 CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital 4 2,114 0 - Commercial Other 0 - 1 46 Home Equity and Improvement 0 - 1 25 Consumer Finance 0 - 2 15 Total 10 $ 2,978 11 $ 389 The loans described above decreased the ALLL by $5,000 in the three month period ending March 31, 2018 and decreased the ALLL by $19,000 in the three month period ending March 31, 2017. Of the 2018 modifications, one was made a TDR due to terming out lines of credit, five were made TDR due to advancing or renewing money to a watch list credit, one loan made a TDR due to an reduction of the interest rate, and three were made a TDR because the current debt was refinanced due to maturity or for payment relief. The following table present loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the three month period ended March 31, 2018, and March 31, 2017: Three Months Ended March 31, 2018 ($ in thousands) Three Months Ended March 31, 2017 ($ in thousands) Troubled Debt Restructurings That Subsequently Defaulted Number of Loans Recorded Investment (as of period end) Number of Loans Recorded Investment (as of period end) 1-4 Family Owner Occupied 0 $ - 0 $ - 1-4 Family Non Owner Occupied 0 - 0 - CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 0 - 0 - Commercial Other 1 197 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 1 $ 197 0 $ - The TDRs that subsequently defaulted described above had no effect on the allowance for loan losses for the three month period ended March 31, 2018. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed on the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. Credit Quality Indicators Loans are categorized into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans are analyzed individually by classifying the loans as to credit risk. This analysis includes all non-homogeneous loans, such as commercial and commercial real estate loans and certain homogenous mortgage, home equity and consumer loans. This analysis is performed on a quarterly basis. First Defiance uses the following definitions for risk ratings: Special Mention. Substandard. Doubtful. Not Graded. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. As of March 31, 2018, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Class Pass Special Mention Substandard Doubtful Not Graded Total 1-4 Family Owner Occupied $ 6,764 $ 96 $ 2,387 $ - $ 170,282 $ 179,529 1-4 Family Non Owner Occupied 84,434 1,280 3,385 - 7,348 96,447 Total 1-4 Family Real Estate 91,198 1,376 5,772 - 177,630 275,976 Multi-Family Residential Real Estate 266,216 2,063 2,698 - 110 271,087 CRE Owner Occupied 384,271 11,521 13,100 - 125 409,017 CRE Non Owner Occupied 412,587 7,425 5,119 - - 425,131 Agriculture Land 109,860 7,896 13,473 - - 131,229 Other CRE 46,014 159 1,664 - 1,143 48,980 Total Commercial Real Estate 952,732 27,001 33,356 - 1,268 1,014,357 Construction 119,950 1,153 - - 19,118 140,221 Commercial Working Capital 206,697 18,428 5,028 - - 230,153 Commercial Other 263,830 2,831 5,448 - - 272,109 Total Commercial 470,527 21,259 10,476 - - 502,262 Home Equity and Home Improvement - - 931 - 133,239 134,170 Consumer Finance - - 128 - 27,970 28,098 Total Loans $ 1,900,623 $ 52,852 $ 53,361 $ - $ 359,335 $ 2,366,171 As of December 31, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Class Pass Special Mention Substandard Doubtful Not Graded Total Residential Owner Occupied $ 7,534 $ 99 $ 2,367 $ - $ 168,220 $ 178,220 Residential Non Owner Occupied 85,802 935 3,835 - 6,564 97,136 Total 1-4 Family Real Estate 93,336 1,034 6,202 - 174,784 275,356 Multi-Family Residential Real Estate 242,969 2,503 2,819 - 111 248,402 CRE Owner Occupied 370,613 10,432 13,575 - 156 394,776 CRE Non Owner Occupied 395,264 3,464 5,444 - - 404,172 Agriculture Land 114,776 2,639 14,816 - - 132,231 Other CRE 56,133 165 1,788 - 915 59,001 Total Commercial Real Estate 936,786 16,700 35,623 - 1,071 990,180 Construction 125,519 1,254 - - 22,401 149,174 Commercial Working Capital 222,526 7,605 5,743 - - 235,874 Commercial Other 280,013 3,443 8,598 - - 292,054 Total Commercial 502,539 11,048 14,341 - - 527,928 Home Equity and Home Improvement - - 600 - 135,674 136,274 Consumer Finance - - 82 - 29,093 29,175 Total Loans $ 1,901,149 $ 32,539 $ 59,667 $ - $ 363,134 $ 2,356,489 The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The outstanding balance of those loans is as follows (In Thousands): March 31, 2018 December 31, 2017 1-4 Family Residential Real Estate $ 1,124 $ 1,154 Multi-Family Residential Real Estate 307 309 Commercial Real Estate Loans 2,833 2,921 Commercial 389 407 Consumer 1 2 Total Outstanding Balance $ 4,654 $ 4,793 Recorded Investment, net of allowance of $0 $ 3,687 $ 3,828 Accretable yield, or income expected to be collected, is as follows: 2018 2017 Balance at January 1 $ 804 $ - New Loans Purchased - 1,034 Accretion of Income (15 ) - Reclassification from Non-accretable - - Charge-off of Accretable Yield - - Balance at March 31 $ 789 $ 1,034 For those purchased loans disclosed above, the Company did not increase the allowance for loan losses during the three months ended March 31, 2018 or 2017. No allowances for loan losses were reversed during the same period. Contractually required payments receivable of loans purchased with evidence of credit deterioration during the period ended March 31, 2017, using information as of the date of acquisition are included in the table below. There were no such loans purchased during the period ended March 31, 2018. (In Thousands) 1-4 Family Residential Real Estate $ 1,720 Commercial Real Estate 4,724 Commercial 785 Consumer 4 Total $ 7,233 Cash Flows Expected to be Collected at Acquisition $ 5,721 Fair Value of Acquired Loans at Acquisition $ 4,703 Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $741,000 as of March 31, 2018. |
Mortgage Banking
Mortgage Banking | 3 Months Ended |
Mar. 31, 2018 | |
Mortgage Banking [Abstract] | |
Mortgage Banking [Text Block] | 9. Mortgage Banking Net revenues from the sales and servicing of mortgage loans consisted of the following Three Months Ended 2018 2017 (In Thousands) Gain from sale of mortgage loans $ 1,080 $ 1,083 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 944 934 Amortization of mortgage servicing rights (319) (312) Mortgage servicing rights valuation adjustments 37 33 662 655 Net revenue from sale and servicing of mortgage loans $ 1,742 $ 1,738 The unpaid principal balance of residential mortgage loans serviced for third parties was $ 1.39 1.39 Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three months ended March 31, 2018 and 2017: March 31, March 31, (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 10,240 $ 10,117 Loans sold, servicing retained 324 356 Amortization (319) (312) Carrying value before valuation allowance at end of period 10,245 10,161 Valuation allowance: Balance at beginning of period (432) (522) Impairment (expense) recovery 37 33 Balance at end of period (395) (489) Net carrying value of MSRs at end of period $ 9,850 $ 9,672 Fair value of MSRs at end of period $ 10,280 $ 10,013 Amortization of mortgage servicing rights is computed based on payments and payoffs of the related mortgage loans serviced. Estimates of future amortization expense are not easily estimable . The Company has established an accrual for secondary market buy-back activity. A liability of $ 43,000 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2018 | |
Deposits [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 10. Deposits March 31, December 31, (In Thousands) Non-interest-bearing checking accounts $ 550,742 $ 571,360 Interest-bearing checking and money market accounts 1,055,416 1,005,519 Savings deposits 306,510 302,022 Retail certificates of deposit less than $250,000 512,746 504,912 Retail certificates of deposit greater than $250,000 66,387 53,843 $ 2,491,801 $ 2,437,656 |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2018 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | 11. Borrowings March 31, December 31, (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 64,000 $ 92,000 Putable advances - 5,000 Amortizable mortgage advances 7,027 6,943 Fair value adjustment on acquired balances (26) - Total $ 71,001 $ 103,943 Junior subordinated debentures owed to unconsolidated subsidiary trusts $ 36,083 $ 36,083 In March 2007, the Company sponsored an affiliated trust, First Defiance Statutory Trust II (Trust Affiliate II) that issued $ 15 15.5 LIBOR rate plus 1.5%. 3.62 3.09 The Trust Preferred Securities issued by Trust Affiliate II are subject to mandatory redemption, in whole or part, upon repayment of the Subordinated Debentures. The Company has entered into an agreement that fully and unconditionally guarantees the Trust Preferred Securities subject to the terms of the guarantee. The Trust Preferred Securities and Subordinated Debentures mature on June 15, 2037 The Company also sponsored an affiliated trust, First Defiance Statutory Trust I (Trust Affiliate I), that issued $ 20 20.6 LIBOR rate plus 1.38%. 3.50 2.97 The Trust Preferred Securities issued by Trust Affiliate I are subject to mandatory redemption, in whole or in part, upon repayment of the Subordinated Debentures. The Company has entered into an agreement that fully and unconditionally guarantees the Trust Preferred Securities subject to the terms of the guarantee. The Trust Preferred Securities and Subordinated Debentures mature on December 15, 2035, but can be redeemed at the Company’s option at any time now. The subordinated debentures may be included in Tier 1 capital (with certain limitations applicable) under current regulatory guidelines and interpretations. Interest on both issues of Trust Preferred Securities may be deferred for a period of up to five years at the option of the issuer. Repurchase Agreements . Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At March 31, 2018 Repurchase agreements: Mortgage-backed securities residential $ 3,645 $ - $ - $ - $ 3,645 Collateralized mortgage obligations 5,676 - - - 5,676 Total borrowings $ 9,321 $ - $ - $ - $ 9,321 Gross amount of recognized liabilities for repurchase agreements $ 9,321 Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At December 31, 2017 Repurchase agreements: Mortgage-backed securities residential $ 6,599 $ - $ - $ - $ 6,599 Collateralized mortgage obligations 19,420 - - - 19,420 Total borrowings $ 26,019 $ - $ - $ - $ 26,019 Gross amount of recognized liabilities for repurchase agreements $ 26,019 |
Commitments, Guarantees and Con
Commitments, Guarantees and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments Contingencies and Guarantees [Text Block] | 12. Commitments, Guarantees and Contingent Liabilities Loan commitments are made to accommodate the financial needs of First Federal’s customers; however, there are no long-term, fixed-rate loan commitments that result in market risk. Standby letters of credit commit the Company to make payments on behalf of customers when certain specified future events occur. They primarily are issued to facilitate customers’ trade transactions. Both arrangements have credit risk, essentially the same as that involved in extending loans to customers, and are subject to the Company’s normal credit policies. Collateral (e.g., securities, receivables, inventory and equipment) is obtained based on Management’s credit assessment of the customer. The Company’s maximum obligation to extend credit for loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding as of the periods stated below were as follows (In Thousands): March 31, 2018 December 31, 2017 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 53,556 $ 174,401 $ 42,458 $ 161,778 Unused lines of credit 9,799 468,512 6,245 408,831 Standby letters of credit - 7,882 - 7,605 Total $ 63,355 $ 650,795 $ 48,703 $ 578,214 Commitments to make loans are generally made for periods of 60 days or less. In addition to the above commitments, First Defiance had commitments to sell $ 16.8 14.9 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 13. Income Taxes The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax in the state of Indiana. The Company is no longer subject to examination by taxing authorities for years before 2013. The Company currently operates primarily in the states of Ohio and Michigan, which tax financial institutions based on their equity rather than their income. Public law No. 115-97, known as the Tax Cuts and Jobs Act ("Tax Act"), enacted on December 22, 2017, reduced the U.S. federal corporate tax rate from 35 21 |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 14. Derivative Financial Instruments Commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third party investors are considered derivatives. It is the Company’s practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. These mortgage banking derivatives are not designated in hedge relationships. First Federal had approximately $ 25.0 14.8 16.7 23.2 The fair value of these mortgage banking derivatives are reflected by a derivative asset recorded in other assets in the Consolidated Statements of Condition. The table below provides data about the carrying values of these derivative instruments: March 31, 2018 December 31, 2017 Assets (Liabilities) Assets (Liabilities) Derivative Derivative Carrying Carrying Net Carrying Carrying Carrying Net Carrying Value Value Value Value Value Value (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives $ 652 $ 12 $ 640 $ 609 $ 11 $ 598 The table below provides data about the amount of gains and losses recognized in income on derivative instruments not designated as hedging instruments: Three Months Ended 2018 2017 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ 42 $ 65 The above amounts are included in mortgage banking income with gain on sale of mortgage loans. |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2018 | |
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | |
Other Comprehensive Income Loss [Text Block] | 15. Other Comprehensive Income The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below. Before Tax Tax Expense Net of Tax (In Thousands) Three months ended March 31, 2018: Securities available for sale: Change in net unrealized gain/loss during the period $ (3,557) $ 747 $ (2,810) Reclassification adjustment for net gains included in net income - - - Total other comprehensive loss $ (3,557) $ 747 $ (2,810) Three months ended March 31, 2017: Securities available for sale: Change in net unrealized gain/loss during the period $ 1,580 $ (553) $ 1,027 Reclassification adjustment for net gains included in net income - - - Total other comprehensive income $ 1,580 $ (553) $ 1,027 Accumulated Securities Post- Other Available retirement Comprehensive For Sale Benefit Income (In Thousands) Balance January 1, 2018 $ 601 $ (384) $ 217 Other comprehensive income (loss) before reclassifications (2,810) - (2,810) Net other comprehensive income (loss) during period (2,810) - (2,810) Reclassification adjustment upon adoption of ASU 2018-02 129 (82) 47 Balance March 31, 2018 $ (2,080) $ (466) $ (2,546) Balance January 1, 2017 $ 504 $ (289) $ 215 Other comprehensive income before reclassifications 1,027 - 1,027 Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income during period 1,027 - 1,027 Balance March 31, 2017 $ 1,531 $ (289) $ 1,242 |
Affordable Housing Projects Tax
Affordable Housing Projects Tax Credit Partnership | 3 Months Ended |
Mar. 31, 2018 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Affordable Housing Program [Text Block] | 16. Affordable Housing Projects Tax Credit Partnership The Company makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (“LIHTC”) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity. The Company is a limited partner in each LIHTC Partnership. A separate unrelated third party is the general partner. Each limited partnership is managed by the general partner, who exercises full control over the affairs of the limited partnership. The general partner has all the rights, powers and authority granted or permitted to be granted to a general partner of a limited partnership. Duties entrusted to the general partner of each limited partnership include, but are not limited to: investment in operating companies, company expenditures, investment of excess funds, borrowing funds, employment of agents, disposition of fund property, prepayment and refinancing of liabilities, votes and consents, contract authority, disbursement of funds, accounting methods, tax elections, bank accounts, insurance, litigation, cash reserve, and use of working capital reserve funds. Except for limited rights granted to consent to certain transactions, the limited partner(s) may not participate in the operation, management, or control of the limited partnership’s business, transact any business in the limited partnership’s name or have any power to sign documents for or otherwise bind the limited partnership. In addition, the general partner may only be removed by the limited partner(s) in the event the general partner fails to comply with the terms of the agreement or is negligent in performing its duties. The general partner of each limited partnership has both the power to direct the activities which most significantly affect the performance of each partnership and the obligation to absorb losses or the right to receive benefits that could be significant to the entities. Therefore, the Company has determined that it is not the primary beneficiary of any LIHTC partnership. In January of 2014, the FASB issued ASU 2014-01 “Accounting for Investments in Qualified Affordable Housing Projects.” 9.0 9.2 5.4 6.2 Unfunded Commitments (dollars in thousands) Amount 2018 $ 2,149 2019 1,351 2020 392 2021 368 2022 240 Thereafter 883 Total Unfunded Commitments $ 5,383 Three Months Ended March 31, (dollars in thousands) 2018 2017 Proportional Amortization Method Tax credits and other tax benefits recognized $ 254 $ 211 Amortization expense in federal income taxes 234 165 There were no impairment losses of LIHTC investments for the three months ended March 31, 2018 and 2017. |
Business Combinations
Business Combinations | 3 Months Ended |
Mar. 31, 2018 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 17. Business Combinations Effective February 24, 2017, the Company acquired Commercial Bancshares, Inc. (“Commercial Bancshares”) and its subsidiary, The Commercial Savings Bank (“CSB”), pursuant to an Agreement and Plan of Merger (“merger agreement”), dated August 23, 2016. The acquisition was accomplished by the merger of Commercial Bancshares into First Defiance, immediately followed by the merger of CSB into First Federal. CSB operated 7 full-service banking offices in northwest and north central, Ohio and 1 commercial loan production office in central Ohio. Commercial Bancshares’ consolidated assets and equity (unaudited) as of February 24, 2017, totaled $ 348.4 37.5 In accordance with ASC 805, the Company expensed approximately $ 3.7 2.8 28.9 4.9 10 February 24, 2017 (In Thousands) Cash Consideration $ 12,340 Equity Dollar Value of Issued Shares 56,532 Fair Value of Total Consideration Transferred 68,872 Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: Cash and Cash Equivalents 35,411 Federal Funds Sold 2,769 Securities 4,338 Loans 285,448 FHLB Stock of Cincinnati and Other Stock 2,194 Office Properties and Equipment 5,256 Intangible Assets 4,900 Bank-Owned Life Insurance 8,168 Accrued Interest Receivable and Other Assets 3,606 Deposits Non-Interest Bearing (56,061) Deposits Interest Bearing (251,931) Advances from FHLB (1,403) Accrued Interest Payable and Other Liabilities (2,717) Total Identifiable Net Assets 39,978 Goodwill $ 28,894 Under the terms of the merger agreement, Commercial Bancshares common shareholders had the opportunity to elect to receive 1.1808 51.00 80 20 1,139,502 12.3 On April 13, 2017, First Defiance and Corporate One Benefits Agency, Inc. (“Corporate One”) jointly announced the acquisition of Corporate One’s business by First Defiance. The total purchase price paid in cash was made up of the following: $ 6.5 500,000 2.3 9.3 2.3 1.8 7.9 756,000 564,000 192,000 |
Significant Accounting Polici27
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share Basic earnings per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities for the calculation. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options, restricted stock awards and stock grants. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangibles Goodwill resulting from business combinations prior to January 1, 2009, represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. The Company has selected November 30 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on First Defiance’s balance sheet. Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from whole bank, insurance and branch acquisitions. They are initially recorded at fair value and then amortized on an accelerated basis over their estimated lives, which range from five years for non-compete agreements to 10 20 |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Adopted in 2018 In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers.” The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies generally will be required to use more judgment and make more estimates than under current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Subsequent to the issuance of ASU 2014-09, the FASB issued targeted updates to clarify specific implementation issues including ASU No. 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU No. 2016-10, “Identifying Performance Obligations and Licensing,” ASU No. 2016-12, “Narrow-Scope Improvements and Practical Expedients,” and ASU No. 2016-20 “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” For financial reporting purposes, the standard allows for either full retrospective adoption, meaning the standard is applied to all of the periods presented, or modified retrospective adoption, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. Since the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the new guidance did not have a material impact on revenue most closely associated with financial instruments, including interest income and expense. The Company completed its overall assessment of revenue streams and review of related contracts potentially affected by the ASU, including trust and asset management fees, deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. Based on this assessment, the Company concluded that ASU 2014-09 did not materially change the method in which the Company currently recognizes revenue for these revenue streams. The Company adopted ASU 2014-09 and its related amendments on its required effective date of January 1, 2018, utilizing the modified retrospective approach. Since there was no net income impact upon adoption of the new guidance, a cumulative effect adjustment to opening retained earnings was not deemed necessary. See below for additional information related to revenue generated from contracts with customers. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” This ASU addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments by making targeted improvements to GAAP as follows: (1) require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer; (2) simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value; (3) eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities; (4) eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; (5) require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (6) require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (7) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans receivable) on the balance sheet or the accompanying notes to the financial statements; and (8) clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The adoption of ASU No. 2016-01 on January 1, 2018, did not have a material impact on the Company’s Consolidated Financial Statements. Also in conjunction with the adoption, our fair value measurement of financial instruments will be based upon an exit price notion as required in ASU 2016-01. The guidance was applied on a prospective approach resulting in prior-periods no longer being comparable. In February 2018, the FASB issued ASU No. 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” This ASU allows a reclassification from accumulated other comprehensive income (“AOCI”) to retained earnings for certain income tax effects stranded in AOCI as a result of the Tax Act. Consequently, the reclassification eliminates the stranded tax effects resulting from the Tax Act and is intended to improve the usefulness of information reported to financial statement users. However, because the ASU only relates to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires the effect of a change in tax laws or rates to be included in income from continuing operations is not affected. The Company adopted ASU No. 2018-02 during the first quarter of 2018, and elected to reclassify the income tax effects of the Tax Act from AOCI to retained earnings. The reclassification increased AOCI and decreased retained earnings by $ 47 |
Accounting Standards Pending Adoption [Policy Text Block] | Accounting Standards Pending Adoption In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The objective of the update is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company has not yet selected a transition method as it is in the process of determining the effect of the ASU on its consolidated financial statements and disclosures. The Company has several lease agreements, such as branch locations, which are currently considered operating leases, and therefore, not recognized on the Company’s consolidated condensed statements of financial condition. The Company expects the new guidance will require these lease agreements to now be recognized on the consolidated condensed statements of financial condition as a right-of-use asset and a corresponding lease liability. Therefore, the Company’s preliminary evaluation indicates the provisions of ASU No. 2016-02 are expected to impact the Company’s consolidated condensed statements of financial condition, along with our regulatory capital ratios. However, the Company continues to evaluate the extent of potential impact the new guidance will have on the Company’s consolidated financial statements. At March 31, 2018, the Company had contractual operating lease commitments of approximately $ 11.0 In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” |
Revenue Recognition, Policy [Policy Text Block] | Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606"), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The majority of our revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other GAAP discussed elsewhere within our disclosures. Descriptions of our revenue-generating activities that are within the scope of ASC 606, which are presented in our income statements as components of non-interest income are as follows: · Service charges on deposit accounts - these represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. Service charges on deposit accounts that are within the scope of ASC 606 were $2.1 million in the first quarter of 2018. Income from services charges on deposit accounts is included in service fees and other charges in non-interest income. · Interchange income this represents fees earned from debit cardholder transactions. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrent with the transaction processing services provided to the cardholder. Interchange fees in the first quarter of 2018, which are reported net of network related charges, was $982,000. Interchange income is included in service fees and other charges in non-interest income. · Wealth management and trust fee income - this represents monthly fees due from wealth management customers as consideration for managing the customers' assets. Wealth management and trust services include custody of assets, investment management, escrow services, fees for trust services and similar fiduciary activities. Revenue is recognized when our performance obligation is completed each month, which is generally the time that payment is received. Also included are fees received from a third party broker-dealer as part of a revenue-sharing agreement for fees earned from customers that we refer to the third party. These fees are paid to us by the third party on a quarterly basis and recognized ratably throughout the quarter as our performance obligation is satisfied. Revenue from wealth management and trust services were $214,000 and $551,000, respectively, in the first quarter of 2018. Income from wealth management services is included in other income in non-interest income. · Gain/loss on sales of OREO the Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain or loss on sale if a significant financing component is present. Income from the gain/loss on sales of OREO was $7,000 in the first quarter of 2018. Income from the gain or loss on sales of OREO is included in other income in non-interest income. · Insurance commissions - this represents new commissions that are recognized when the Company sells insurance policies to customers. The Company is also entitled to renewal commissions and, in some cases, contingent commissions in the form of profit sharing which are recognized in subsequent periods. The initial commission is recognized when the insurance policy is sold to a customer. Renewal commission is variable consideration and is recognized in subsequent periods when the uncertainty around variable consideration is subsequently resolved (i.e., when customer renews the policy). Contingent commission is also a variable consideration that is not recognized until the variability surrounding realization of revenue is resolved. Another source of variability is the ability of the policy holder to cancel the policy anytime and in such cases, the Company may be required, under the terms of the contract, to return part of the commission received. The variability related to cancellation of the policy is not deemed significant and thus, does not impact the amount of revenue recognized. In the event the policyholder chooses to cancel the policy at any time, the revenue for amounts which qualify for claw-back are reversed in the period the cancellation occurs. Management views the income sources from insurance commissions in two categories: 1) new/renewal commissions and 2) contingent commissions. Insurance commissions were $4.3 million in the first quarter of 2018 of which, $3.3 million were new/renewal commissions and $1.0 million were contingent commissions. |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table summarizes the financial assets measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured on a Recurring Basis March 31, 2018 Level 1 Level 2 Level 3 Total Fair (In Thousands) Available for sale securities: Obligations of U.S. government corporations and agencies $ - $ 2,501 $ - $ 2,501 Mortgage-backed - residential - 62,418 - 62,418 REMICs - 1,020 - 1,020 Collateralized mortgage obligations- residential - 95,192 - 95,192 Corporate bonds - 13,042 - 13,042 Obligations of state and political subdivisions - 95,937 - 95,937 Mortgage banking derivative - asset - 652 - 652 Mortgage banking derivative -liability - 12 - 12 December 31, 2017 Level 1 Level 2 Level 3 Total Fair (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 508 $ - $ 508 Mortgage-backed - residential - 59,269 - 59,269 REMICs - 1,065 - 1,065 Collateralized mortgage obligations-residential - 93,876 - 93,876 Preferred stock 1 - - 1 Corporate bonds - 13,103 - 13,103 Obligations of state and political subdivisions - 92,828 92,828 Mortgage banking derivative - asset - 609 - 609 Mortgage banking derivative -liability - 11 - 11 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table summarizes the financial assets measured at fair value on a non-recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured on a Non-Recurring Basis March 31, 2018 Level 1 Level 2 Level 3 Total Fair (In Thousands) Impaired loans Commercial Real Estate $ - $ - $ - $ - Commercial - - - - Total Impaired loans - - - - Mortgage servicing rights - 539 - 539 Real estate held for sale Commercial Real Estate - - 705 705 Total Real Estate held for sale - - 705 705 December 31, 2017 Level 1 Level 2 Level 3 Total Fair (In Thousands) Impaired loans Commercial Real Estate $ - - $ 1,787 $ 1,787 Commercial 2,817 2,817 Total impaired loans - - 4,604 4,604 Mortgage servicing rights - 534 - 534 Commercial Real Estate - - 227 227 Total Real Estate held for sale - - 227 227 |
Schedule of Fair Value, Assets Measured on Non Recurring Basis [Table Text Block] | For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of March 31, 2018, the significant unobservable inputs used in the fair value measurements were as follows: Fair Valuation Technique Unobservable Inputs Range of Weighted (Dollars in Thousands) Real estate held for sale Applies to all classes $ 705 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 20 % 20 % For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2017, the significant unobservable inputs used in the fair value measurements were as follows: Fair Valuation Technique Unobservable Inputs Range of Weighted (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 4,604 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-20 % 10 % Real estate held for sale Applies to all classes $ 227 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 0 % 0 % |
Fair Value, by Balance Sheet Grouping [Table Text Block] | FHLB advances with maturities greater than 90 days are valued based on discounted cash flow analysis, using interest rates currently being quoted for similar characteristics and maturities resulting in a Level 2 classification. The cost or value of any call or put options is based on the estimated cost to settle the option at March 31, 2018. Fair Value Measurements at March 31, 2018 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 138,566 $ 138,566 $ 138,566 $ - $ - Investment securities 270,752 270,752 - 270,752 - Federal Home Loan Bank Stock 15,989 N/A N/A N/A N/A Loans, including loans held for sale 2,369,596 2,318,895 - 11,674 2,307,221 Accrued interest receivable 9,359 9,359 9 1,510 7,840 Financial Liabilities: Deposits $ 2,491,801 $ 2,483,228 $ 550,742 $ 1,932,486 $ - Advances from Federal Home Loan Bank 71,001 69,665 - 69,665 - Securities sold under repurchase agreements 9,321 9,321 - 9,321 - Subordinated debentures 36,083 35,558 - - 35,558 Fair Value Measurements at December 31, 2017 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 113,693 $ 113,693 $ 113,693 $ - $ - Investment securities 261,298 261,299 1 261,298 - Federal Home Loan Bank Stock 15,992 N/A N/A N/A N/A Loans, net, including loans held for sale 2,332,465 2,315,791 - 10,830 2,304,961 Accrued interest receivable 8,706 8,706 13 917 7,776 Financial Liabilities: Deposits $ 2,437,656 $ 2,444,683 $ 571,360 $ 1,873,323 $ - Advances from Federal Home Loan Bank 84,279 83,261 - 83,261 - Securities sold under repurchase agreements 26,019 26,019 - 26,019 - Subordinated debentures 36,083 35,385 - - 35,385 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Following is stock option activity under the plans during the three months ended March 31, 2018: Options Weighted Weighted Aggregate Options outstanding, January 1, 2018 43,450 $ 21.62 Forfeited or cancelled - - Exercised (6,250) 15.53 Granted - - Options outstanding, March 31, 2018 37,200 $ 22.60 3.32 $ 1,291 Vested or expected to vest at March 31, 2018 37,200 $ 22.60 3.32 $ 1,291 Exercisable at March 31, 2018 29,450 $ 19.74 2.36 $ 1,107 |
Schedule Of Share Based Compensation Stock Options Plans [Table Text Block] | Proceeds, related tax benefits realized from options exercised and intrinsic value of options exercised were as follows (in thousands): Three Months Ended March 31, 2018 2017 Proceeds of options exercised $ 56 $ 134 Related tax benefit recognized 21 44 Intrinsic value of options exercised 253 200 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | There was approximately $ 211,000 774,000 Restricted Stock Units Stock Grants Weighted-Average Weighted-Average Grant Date Grant Date Unvested Shares Shares Fair Value Shares Fair Value Unvested at January 1, 2018 72,538 $ 40.52 10,536 $ 50.56 Granted 24,416 53.94 28,757 35.79 Vested (24,757) 32.30 (24,757) 32.30 Forfeited - - - - Unvested at March 31, 2018 72,197 $ 47.87 14,536 $ 52.44 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table sets forth the computation of basic and diluted earnings per common share: Three Months Ended 2018 2017 (In Thousands, except per Basic Earnings Per Share: Net income available to common shareholders $ 11,737 $ 5,140 Less: Income allocated to participating securities 3 1 Net income allocated to common shareholders 11,734 5,139 Weighted average common shares outstanding Including participating securities 10,176 9,446 Less: Participating securities 11 5 Average common shares 10,165 9,441 Basic earnings per common share $ 1.15 $ 0.54 Diluted Earnings Per Share: Net income allocated to common shareholders $ 11,734 $ 5,139 Weighted average common shares outstanding for basic earnings per common share 10,165 9,441 Add: Dilutive effects of stock options 54 56 Average shares and dilutive potential common shares 10,219 9,497 Diluted earnings per common share $ 1.15 $ 0.54 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Marketable Securities [Abstract] | |
Schedule of Available-for-sale and Held to Maturity Securities [Table Text Block] | The following is a summary of available-for-sale and held-to-maturity securities: Amortized Gross Gross Fair Value (In Thousands) At March 31, 2018 Available-for-Sale Securities: Obligations of U.S. government corporations and agencies $ 2,518 $ - $ (17) $ 2,501 Mortgage-backed securities residential 64,093 57 (1,732) 62,418 REMICs 1,025 - (5) 1,020 Collateralized mortgage obligations 97,115 46 (1,969) 95,192 Corporate bonds 12,913 129 - 13,042 Obligations of state and political subdivisions 95,080 1,711 (854) 95,937 Total Available-for-Sale $ 272,744 $ 1,943 $ (4,577) $ 270,110 Amortized Gross Gross Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 9 $ - $ - $ 9 FNMA certificates 38 - - 38 GNMA certificates 15 - - 15 Obligations of state and political subdivisions 580 - - 580 Total Held-to Maturity $ 642 $ - $ - $ 642 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) At December 31, 2017 Available-for-sale Obligations of U.S. government corporations and agencies $ 518 $ - $ (10) $ 508 Mortgage-backed securities - residential 59,942 90 (763) 59,269 REMICs 1,072 - (7) 1,065 Collateralized mortgage obligations 94,588 180 (892) 93,876 Preferred stock - 1 - 1 Corporate bonds 12,914 189 - 13,103 Obligations of state and political subdivisions 90,692 2,426 (290) 92,828 Total Available-for-Sale $ 259,726 $ 2,886 $ (1,962) $ 260,650 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In Thousands) Held-to-Maturity* FHLMC certificates $ 10 $ - $ - $ 10 FNMA certificates 41 1 - 42 GNMA certificates 17 - - 17 Obligations of states and political subdivisions 580 - - 580 Total Held-to-Maturity $ 648 $ 1 $ - $ 649 * FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investments Classified by Contractual Maturity Date [Table Text Block] | These securities may mature earlier than their weighted-average contractual maturities because of principal prepayments. Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Due in one year or less $ 1,408 $ 1,420 $ - $ - Due after one year through five years 22,370 22,694 62 62 Due after five years through ten years 38,284 39,267 518 518 Due after ten years 48,449 48,099 - - MBS/CMO/REMIC 162,233 158,630 62 62 $ 272,744 $ 270,110 $ 642 $ 642 |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following tables summarize First Defiance’s securities that were in an unrealized loss position at March 31, 2018, and December 31, 2017: Duration of Unrealized Loss Position Less than 12 Months 12 Months or Longer Total Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loses (In Thousands) At March 31, 2018 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 501 $ (17) $ - $ - $ 501 $ (17) Mortgage-backed securities-residential 36,935 (865) 18,210 (867) 55,145 (1,732) REMICs 1,020 (5) - - 1,020 (5) Collateralized mortgage obligations 73,810 (1,214) 16,646 (755) 90,456 (1,969) Obligations of state and political subdivisions 24,030 (641) 3,285 (213) 27,315 (854) Total temporarily impaired securities $ 136,296 $ (2,742) $ 38,141 $ (1,835) $ 174,437 $ (4,577) Duration of Unrealized Loss Position Less than 12 Months 12 Months or Longer Total Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loses (In Thousands) At December 31, 2017 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ - $ - $ 508 $ (10) $ 508 $ (10) Mortgage-backed securities-residential 27,881 (215) 19,038 (548) 46,919 (763) REMICs 1,065 (7) - - 1,065 (7) Collateralized mortgage obligations 49,107 (320) 20,804 (572) 69,911 (892) Obligations of state and political subdivisions 14,249 (163) 3,370 (127) 17,619 (290) Held to maturity securities: 12 - 9 - 21 - Total temporarily impaired securities $ 92,314 $ (705) $ 43,729 $ (1,257) $ 136,043 $ (1,962) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Loans Receivable, Net [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable consist of the following: March 31, December 31, (In Thousands) Real Estate: Secured by 1-4 family residential $ 275,547 $ 274,862 Secured by multi-family residential 270,733 248,092 Secured by commercial real estate 1,011,294 987,129 Construction 251,944 265,476 1,809,518 1,775,559 Other Loans: Commercial 500,496 526,142 Home equity and improvement 133,407 135,457 Consumer finance 28,035 29,109 661,938 690,708 Total loans 2,471,456 2,466,267 Deduct: Undisbursed loan funds (111,450) (115,972) Net deferred loan origination fees and costs (1,676) (1,582) Allowance for loan loss (27,267) (26,683) Totals $ 2,331,063 $ 2,322,030 |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | The following table discloses allowance for loan loss activity for the quarters ended March 31, 2018 and 2017 by portfolio segment (In Thousands): Quarter Ended March, 2018 1-4 Family Multi- Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,532 $ 2,702 $ 10,354 $ 647 $ 7,965 $ 2,255 $ 228 $ 26,683 Charge-Offs (16) 0 (55) 0 (97) (117) (31) (316) Recoveries 24 0 184 0 1,757 28 2 1,995 Provisions (6) 281 290 20 (1,787) 43 64 (1,095) Ending Allowance $ 2,534 $ 2,983 $ 10,773 $ 667 $ 7,838 $ 2,209 $ 263 $ 27,267 Quarter Ended March 31, 2017 1-4 Family Multi- Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Charge-Offs (49) 0 (290) 0 0 (54) (71) (464) Recoveries 56 32 34 0 115 33 4 274 Provisions (13) (138) (159) 8 333 (65) 89 55 Ending Allowance $ 2,621 $ 2,122 $ 10,210 $ 458 $ 7,809 $ 2,300 $ 229 $ 25,749 |
Schedule of Allowance for Loan Losses and Recorded Investment in Portfolio Segment Based on Impairment [Table Text Block] | The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of March 31, 2018 (In Thousands): 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 218 $ 2 $ 164 $ - $ 83 $ 312 $ - $ 779 Collectively evaluated for impairment 2,316 2,981 10,609 667 7,755 1,897 263 26,488 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,534 $ 2,983 $ 10,773 $ 667 $ 7,838 $ 2,209 $ 263 $ 27,267 Loans: Loans individually evaluated for impairment $ 7,117 $ 2,042 $ 30,070 $ - $ 10,328 $ 1,463 $ 36 $ 51,056 Loans collectively evaluated for impairment 267,814 268,745 982,263 140,221 491,616 132,707 28,062 2,311,428 Loans acquired with deteriorated credit quality 1,045 300 2,024 - 318 - - 3,687 Total ending loans balance $ 275,976 $ 271,087 $ 1,014,357 $ 140,221 $ 502,262 $ 134,170 $ 28,098 $ 2,366,171 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2017 (In Thousands): 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 167 $ 7 $ 118 $ - $ 187 $ 279 $ - $ 758 Collectively evaluated for impairment 2,365 2,695 10,236 647 7,778 1,976 228 25,925 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,532 $ 2,702 $ 10,354 $ 647 $ 7,965 $ 2,255 $ 228 $ 26,683 Loans: Loans individually evaluated for impairment $ 6,910 $ 2,278 $ 31,821 $ - $ 14,373 $ 1,176 $ 50 $ 56,608 Loans collectively evaluated for impairment 267,377 245,823 956,238 149,174 513,218 135,098 29,125 2,296,053 Loans acquired with deteriorated credit quality 1,069 301 2,121 - 337 - - 3,828 Total ending loans balance $ 275,356 $ 248,402 $ 990,180 $ 149,174 $ 527,928 $ 136,274 $ 29,175 $ 2,356,489 |
Loans Receivable, Impaired, Interest Income, Cash Basis Method [Table Text Block] | The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended March 31, 2018 Average Interest Cash Basis Residential Owner Occupied $ 4,639 $ 32 $ 31 Residential Non Owner Occupied 2,509 44 41 Total Residential Real Estate 7,148 76 72 Construction - - - Multi-Family 2,049 27 26 CRE Owner Occupied 13,225 44 35 CRE Non Owner Occupied 3,482 34 34 Agriculture Land 11,516 95 42 Other CRE 1,486 25 20 Total Commercial Real Estate 29,709 198 131 Commercial Working Capital 5,208 24 24 Commercial Other 5,100 25 23 Total Commercial 10,308 49 47 Home Equity and Improvement 1,474 11 11 Consumer Finance 39 1 1 Total Impaired Loans $ 50,727 $ 362 $ 288 The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended March 31, 2017 Average Interest Cash Basis Residential Owner Occupied $ 2,820 $ 28 $ 28 Residential Non Owner Occupied 3,891 36 36 Total Residential Real Estate 6,711 64 64 Construction 3,374 10 10 Multi-Family 4,614 22 22 CRE Owner Occupied 4,499 42 39 CRE Non Owner Occupied 2,707 47 19 Agriculture Land 1,668 13 12 Other CRE 13,488 124 92 Total Commercial Real Estate - - - Commercial Working Capital 2,372 19 19 Commercial Other 1,722 21 16 Total Commercial 4,094 40 35 Home Equity and Improvement 1,254 10 10 Consumer Finance 74 1 1 Total Impaired Loans $ 28,995 $ 249 $ 212 |
Impaired Financing Receivables [Table Text Block] | The following table presents loans individually evaluated for impairment by class of loans (In Thousands): March 31, 2018 December 31, 2017 Unpaid Recorded Allowance Unpaid Recorded Allowance With no allowance recorded: Residential Owner Occupied $ 2,744 $ 2,597 $ - $ 2,507 $ 2,364 $ - Residential Non Owner Occupied 1,468 1,464 - 1,711 1,708 - Total 1-4 Family Residential Real Estate 4,212 4,061 - 4,218 4,072 - Multi-Family Residential Real Estate 1,863 1,870 - 2,095 2,102 - CRE Owner Occupied 11,847 11,387 - 12,273 11,804 - CRE Non Owner Occupied 3,035 2,873 - 3,085 2,925 - Agriculture Land 11,682 11,860 - 13,029 13,185 - Other CRE 959 748 - 981 768 - Total Commercial Real Estate 27,523 26,868 - 29,368 28,682 - Construction - - - - - - Commercial Working Capital 4,888 4,815 - 5,462 5,422 - Commercial Other 4,744 4,757 - 9,916 7,644 - Total Commercial 9,632 9,572 - 15,378 13,066 - Home Equity and Home Improvement 614 569 - 630 584 - Consumer Finance 36 36 - 42 42 - Total loans with no allowance recorded $ 43,880 $ 42,976 $ - $ 51,731 $ 48,548 $ - With an allowance recorded: Residential Owner Occupied $ 1,998 $ 1,978 $ 144 $ 1,841 $ 1,814 $ 137 Residential Non Owner Occupied 1,076 1,078 74 1,031 1,024 30 Total 1-4 Family Residential Real Estate 3,074 3,056 218 2,872 2,838 167 Multi-Family Residential Real Estate 171 172 2 175 176 7 CRE Owner Occupied 2,077 1,616 50 2,007 1,546 44 CRE Non Owner Occupied 644 584 42 651 593 28 Agriculture Land 287 284 32 293 292 14 Other CRE 916 718 40 909 708 32 Total Commercial Real Estate 3,924 3,202 164 3,860 3,139 118 Construction - - - - - - Commercial Working Capital 458 461 62 447 449 77 Commercial Other 293 295 21 854 858 110 Total Commercial 751 756 83 1,301 1,307 187 Home Equity and Home Improvement 898 894 312 596 592 279 Consumer Finance - - - 8 8 - Total loans with an allowance recorded $ 8,818 $ 8,080 $ 779 $ 8,812 $ 8,060 $ 758 * Presented gross of charge offs |
Schedule of Non-Performing Loans and Real Estate Owned [Table Text Block] | The following table presents the current balance of the aggregate amounts of non-performing assets, comprised of non-performing loans and real estate owned on the dates indicated: March 31, December 31, (In Thousands) Non-accrual loans $ 27,925 $ 30,715 Loans over 90 days past due and still accruing - - Total non-performing loans 27,925 30,715 Real estate and other assets held for sale 1,440 1,532 Total non-performing assets $ 29,365 $ 32,247 Troubled debt restructuring, still accruing $ 13,722 $ 13,770 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | The following table presents the aging of the recorded investment in past due and non- accrual loans as of March 31, 2018, by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Total Residential Owner Occupied $ 177,799 $ 537 $ 259 $ 933 $ 1,729 $ 2,111 Residential Non Owner Occupied 96,275 76 - 97 173 342 Total 1-4 Family Residential Real Estate 274,074 613 259 1,030 1,902 2,453 Multi-Family Residential Real Estate 271,087 - - - - 124 CRE Owner Occupied 407,019 592 76 847 1,515 10,170 CRE Non Owner Occupied 424,247 1,074 29 263 1,366 2,164 Agriculture Land 130,940 82 - 208 290 4,275 Other Commercial Real Estate 48,868 13 - 99 112 611 Total Commercial Real Estate 1,011,074 1,761 105 1,417 3,283 17,220 Construction 140,221 - - - - - Commercial Working Capital 229,844 209 - 100 309 3,550 Commercial Other 271,422 49 - 638 687 3,620 Total Commercial 501,266 258 - 738 996 7,170 Home Equity/Home Improvement 133,552 29 7 582 618 909 Consumer Finance 27,764 199 96 39 334 39 Total Loans $ 2,359,038 $ 2,860 $ 467 $ 3,806 $ 7,133 $ 27,915 The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2017, by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Total Residential Owner Occupied $ 175,139 $ 821 $ 1,033 $ 1,227 $ 3,081 $ 2,510 Residential Non Owner Occupied 96,400 495 8 233 736 520 Total 1-4 Family Residential Real Estate 271,539 1,316 1,041 1,460 3,817 3,030 Multi-Family Residential Real Estate 247,980 422 - - 422 128 CRE Owner Occupied 393,125 195 188 1,268 1,651 10,775 CRE Non Owner Occupied 403,656 1 91 424 516 2,431 Agriculture Land 131,753 412 - 66 478 4,144 Other Commercial Real Estate 58,784 13 - 204 217 734 Total Commercial Real Estate 987,318 621 279 1,962 2,862 18,084 Construction 149,174 - - - - - Commercial Working Capital 233,632 102 1,264 876 2,242 2,369 Commercial Other 291,455 82 - 517 599 6,474 Total Commercial 525,087 184 1,264 1,393 2,841 8,843 Home Equity and Home Improvement 133,144 2,490 434 206 3,130 591 Consumer Finance 28,800 293 80 2 375 27 Total Loans $ 2,343,042 $ 5,326 $ 3,098 $ 5,023 $ 13,447 $ 30,703 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table present loans by class modified as TDRs that occurred during the three month periods ending March 31, 2018, and March 31, 2017: Loans Modified as a TDR for the Three Loans Modified as a TDR for the Three Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 3 $ 145 4 $ 100 1-4 Family Non Owner Occupied 1 69 2 84 Multi Family 0 - 0 - CRE Owner Occupied 2 650 1 119 CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital 4 2,114 0 - Commercial Other 0 - 1 46 Home Equity and Improvement 0 - 1 25 Consumer Finance 0 - 2 15 Total 10 $ 2,978 11 $ 389 |
Troubled Debt Restructurings on Payments [Table Text Block] | Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 0 $ - 0 $ - 1-4 Family Non Owner Occupied 0 - 0 - CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 0 - 0 - Commercial Other 1 197 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 1 $ 197 0 $ - |
Financing Receivable Credit Quality Indicators [Table Text Block] | As of March 31, 2018, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Class Pass Special Substandard Doubtful Not Total 1-4 Family Owner Occupied $ 6,764 $ 96 $ 2,387 $ - $ 170,282 $ 179,529 1-4 Family Non Owner Occupied 84,434 1,280 3,385 - 7,348 96,447 Total 1-4 Family Real Estate 91,198 1,376 5,772 - 177,630 275,976 Multi-Family Residential Real Estate 266,216 2,063 2,698 - 110 271,087 CRE Owner Occupied 384,271 11,521 13,100 - 125 409,017 CRE Non Owner Occupied 412,587 7,425 5,119 - - 425,131 Agriculture Land 109,860 7,896 13,473 - - 131,229 Other CRE 46,014 159 1,664 - 1,143 48,980 Total Commercial Real Estate 952,732 27,001 33,356 - 1,268 1,014,357 Construction 119,950 1,153 - - 19,118 140,221 Commercial Working Capital 206,697 18,428 5,028 - - 230,153 Commercial Other 263,830 2,831 5,448 - - 272,109 Total Commercial 470,527 21,259 10,476 - - 502,262 Home Equity and Home Improvement - - 931 - 133,239 134,170 Consumer Finance - - 128 - 27,970 28,098 Total Loans $ 1,900,623 $ 52,852 $ 53,361 $ - $ 359,335 $ 2,366,171 As of December 31, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Class Pass Special Substandard Doubtful Not Total Residential Owner Occupied $ 7,534 $ 99 $ 2,367 $ - $ 168,220 $ 178,220 Residential Non Owner Occupied 85,802 935 3,835 - 6,564 97,136 Total 1-4 Family Real Estate 93,336 1,034 6,202 - 174,784 275,356 Multi-Family Residential Real Estate 242,969 2,503 2,819 - 111 248,402 CRE Owner Occupied 370,613 10,432 13,575 - 156 394,776 CRE Non Owner Occupied 395,264 3,464 5,444 - - 404,172 Agriculture Land 114,776 2,639 14,816 - - 132,231 Other CRE 56,133 165 1,788 - 915 59,001 Total Commercial Real Estate 936,786 16,700 35,623 - 1,071 990,180 Construction 125,519 1,254 - - 22,401 149,174 Commercial Working Capital 222,526 7,605 5,743 - - 235,874 Commercial Other 280,013 3,443 8,598 - - 292,054 Total Commercial 502,539 11,048 14,341 - - 527,928 Home Equity and Home Improvement - - 600 - 135,674 136,274 Consumer Finance - - 82 - 29,093 29,175 Total Loans $ 1,901,149 $ 32,539 $ 59,667 $ - $ 363,134 $ 2,356,489 |
Schedule of Deterioration of Credit Quality Contractual Purchased Loans [Table Text Block] | The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The outstanding balance of those loans is as follows (In Thousands): March 31, 2018 December 31, 2017 1-4 Family Residential Real Estate $ 1,124 $ 1,154 Multi-Family Residential Real Estate 307 309 Commercial Real Estate Loans 2,833 2,921 Commercial 389 407 Consumer 1 2 Total Outstanding Balance $ 4,654 $ 4,793 Recorded Investment, net of allowance of $0 $ 3,687 $ 3,828 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments [Table Text Block] | Accretable yield, or income expected to be collected, is as follows: 2018 2017 Balance at January 1 $ 804 $ - New Loans Purchased - 1,034 Accretion of Income (15) - Reclassification from Non-accretable - - Charge-off of Accretable Yield - - Balance at March 31 $ 789 $ 1,034 |
Schedule of Contractually Required Payments Receivable of Loans Purchased with Evidence of Credit Deterioration [Table Text Block] | Contractually required payments receivable of loans purchased with evidence of credit deterioration during the period ended March 31, 2017, using information as of the date of acquisition are included in the table below. There were no such loans purchased during the period ended March 31, 2018. (In Thousands) 1-4 Family Residential Real Estate $ 1,720 Commercial Real Estate 4,724 Commercial 785 Consumer 4 Total $ 7,233 |
Mortgage Banking (Tables)
Mortgage Banking (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Mortgage Banking [Abstract] | |
Mortgage Loans [Table Text Block] | Net revenues from the sales and servicing of mortgage loans consisted of the following Three Months Ended 2018 2017 (In Thousands) Gain from sale of mortgage loans $ 1,080 $ 1,083 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 944 934 Amortization of mortgage servicing rights (319) (312) Mortgage servicing rights valuation adjustments 37 33 662 655 Net revenue from sale and servicing of mortgage loans $ 1,742 $ 1,738 |
Capitalized Mortgage and Valuation Allowance [Table Text Block] | Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three months ended March 31, 2018 and 2017: March 31, March 31, (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 10,240 $ 10,117 Loans sold, servicing retained 324 356 Amortization (319) (312) Carrying value before valuation allowance at end of period 10,245 10,161 Valuation allowance: Balance at beginning of period (432) (522) Impairment (expense) recovery 37 33 Balance at end of period (395) (489) Net carrying value of MSRs at end of period $ 9,850 $ 9,672 Fair value of MSRs at end of period $ 10,280 $ 10,013 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Deposits [Abstract] | |
Deposits [Table Text Block] | A summary of deposit balances is as follows: March 31, December 31, (In Thousands) Non-interest-bearing checking accounts $ 550,742 $ 571,360 Interest-bearing checking and money market accounts 1,055,416 1,005,519 Savings deposits 306,510 302,022 Retail certificates of deposit less than $250,000 512,746 504,912 Retail certificates of deposit greater than $250,000 66,387 53,843 $ 2,491,801 $ 2,437,656 |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Subordinated Borrowings [Abstract] | |
Federal Home Loan Bank Advances Disclosure [Table Text Block] | First Defiance’s debt, FHLB advances and junior subordinated debentures owed to unconsolidated subsidiary trusts are comprised of the following: March 31, December 31, (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 64,000 $ 92,000 Putable advances - 5,000 Amortizable mortgage advances 7,027 6,943 Fair value adjustment on acquired balances (26) - Total $ 71,001 $ 103,943 Junior subordinated debentures owed to unconsolidated subsidiary trusts $ 36,083 $ 36,083 |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of March 31, 2018 and December 31, 2017, is presented in the following tables. Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At March 31, 2018 Repurchase agreements: Mortgage-backed securities residential $ 3,645 $ - $ - $ - $ 3,645 Collateralized mortgage obligations 5,676 - - - 5,676 Total borrowings $ 9,321 $ - $ - $ - $ 9,321 Gross amount of recognized liabilities for repurchase agreements $ 9,321 Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At December 31, 2017 Repurchase agreements: Mortgage-backed securities residential $ 6,599 $ - $ - $ - $ 6,599 Collateralized mortgage obligations 19,420 - - - 19,420 Total borrowings $ 26,019 $ - $ - $ - $ 26,019 Gross amount of recognized liabilities for repurchase agreements $ 26,019 |
Commitments, Guarantees and C36
Commitments, Guarantees and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Line of Credit Facilities [Table Text Block] | The Company’s maximum obligation to extend credit for loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding as of the periods stated below were as follows (In Thousands): March 31, 2018 December 31, 2017 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 53,556 $ 174,401 $ 42,458 $ 161,778 Unused lines of credit 9,799 468,512 6,245 408,831 Standby letters of credit - 7,882 - 7,605 Total $ 63,355 $ 650,795 $ 48,703 $ 578,214 |
Derivative Financial Instrume37
Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position Carrying Value [Table Text Block] | The table below provides data about the carrying values of these derivative instruments: March 31, 2018 December 31, 2017 Assets (Liabilities) Assets (Liabilities) Derivative Derivative Carrying Carrying Net Carrying Carrying Carrying Net Carrying Value Value Value Value Value Value (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives $ 652 $ 12 $ 640 $ 609 $ 11 $ 598 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The table below provides data about the amount of gains and losses recognized in income on derivative instruments not designated as hedging instruments: Three Months Ended 2018 2017 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ 42 $ 65 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | |
Other Comprehensive Income Loss Reclassification Adjustments Related To Securities Available For Sale [Table Text Block] | Reclassification adjustments related to securities available for sale are included in gains on sale or call of securities in the accompanying consolidated condensed statements of income. Before Tax Tax Expense Net of Tax (In Thousands) Three months ended March 31, 2018: Securities available for sale: Change in net unrealized gain/loss during the period $ (3,557) $ 747 $ (2,810) Reclassification adjustment for net gains included in net income - - - Total other comprehensive loss $ (3,557) $ 747 $ (2,810) Three months ended March 31, 2017: Securities available for sale: Change in net unrealized gain/loss during the period $ 1,580 $ (553) $ 1,027 Reclassification adjustment for net gains included in net income - - - Total other comprehensive income $ 1,580 $ (553) $ 1,027 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Activity in accumulated other comprehensive income (loss), net of tax, was as follows: Accumulated Securities Post- Other Available retirement Comprehensive For Sale Benefit Income (In Thousands) Balance January 1, 2018 $ 601 $ (384) $ 217 Other comprehensive income (loss) before reclassifications (2,810) - (2,810) Net other comprehensive income (loss) during period (2,810) - (2,810) Reclassification adjustment upon adoption of ASU 2018-02 129 (82) 47 Balance March 31, 2018 $ (2,080) $ (466) $ (2,546) Balance January 1, 2017 $ 504 $ (289) $ 215 Other comprehensive income before reclassifications 1,027 - 1,027 Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income during period 1,027 - 1,027 Balance March 31, 2017 $ 1,531 $ (289) $ 1,242 |
Affordable Housing Projects T39
Affordable Housing Projects Tax Credit Partnership (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Other Commitments [Table Text Block] | As of March 31, 2018, the expected payments for unfunded affordable housing commitments were as follows: (dollars in thousands) Amount 2018 $ 2,149 2019 1,351 2020 392 2021 368 2022 240 Thereafter 883 Total Unfunded Commitments $ 5,383 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the three and nine months ended March 31, 2018 and 2017. Three Months Ended March 31, (dollars in thousands) 2018 2017 Proportional Amortization Method Tax credits and other tax benefits recognized $ 254 $ 211 Amortization expense in federal income taxes 234 165 |
Business Combinations (Tables)
Business Combinations (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the fair value of the total consideration transferred as part of the Commercial Bancshares acquisition as well as the fair value of identifiable assets and liabilities assumed as of the effective date of the transaction February 24, 2017 (In Thousands) Cash Consideration $ 12,340 Equity Dollar Value of Issued Shares 56,532 Fair Value of Total Consideration Transferred 68,872 Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: Cash and Cash Equivalents 35,411 Federal Funds Sold 2,769 Securities 4,338 Loans 285,448 FHLB Stock of Cincinnati and Other Stock 2,194 Office Properties and Equipment 5,256 Intangible Assets 4,900 Bank-Owned Life Insurance 8,168 Accrued Interest Receivable and Other Assets 3,606 Deposits Non-Interest Bearing (56,061) Deposits Interest Bearing (251,931) Advances from FHLB (1,403) Accrued Interest Payable and Other Liabilities (2,717) Total Identifiable Net Assets 39,978 Goodwill $ 28,894 |
Significant Accounting Polici41
Significant Accounting Policies (Details Textual) | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Property, Plant and Equipment [Line Items] | |
Operating Leases, Future Minimum Payments Due | $ 11,000,000 |
Cumulative Effect on Retained Earnings, Net of Tax | 0 |
Income From Insurance Commission | 4,300,000 |
Income From Renewal Of Insurance Commission | 3,300,000 |
Income From Contingent Consideration | 1,000,000 |
OREO [Member] | |
Property, Plant and Equipment [Line Items] | |
Gain (Loss) on Disposition of Business | 7,000 |
Other NonInterest Expense [Member] | |
Property, Plant and Equipment [Line Items] | |
Income From Service Charges | 2,100,000 |
Income From Network related Charges | 982,000 |
Wealth Management Revenue | 214,000 |
Trust services Revenue | 551,000 |
Retained Earnings [Member] | |
Property, Plant and Equipment [Line Items] | |
Cumulative Effect on Retained Earnings, Net of Tax | $ (47,000) |
Customer Contracts [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 20 years |
Customer Contracts [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 10 years |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 270,110 | $ 260,650 |
Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 95,192 | 93,876 |
Fair Value, Inputs, Level 1 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 95,192 | 93,876 |
Fair Value, Inputs, Level 3 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of U.S. government corporations and agencies [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 2,501 | 508 |
Obligations of U.S. government corporations and agencies [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of U.S. government corporations and agencies [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 2,501 | 508 |
Obligations of U.S. government corporations and agencies [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage-backed - residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 62,418 | 59,269 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 62,418 | 59,269 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
REMICs [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1,020 | 1,065 |
REMICs [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
REMICs [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1,020 | 1,065 |
REMICs [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Preferred Stock [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1 | |
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1 | |
Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | |
Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | |
Corporate bonds [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 13,042 | 13,103 |
Corporate bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Corporate bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 13,042 | 13,103 |
Corporate bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of state and political subdivisions [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 95,937 | 92,828 |
Obligations of state and political subdivisions [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of state and political subdivisions [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 95,937 | 92,828 |
Obligations of state and political subdivisions [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | |
Mortgage banking derivative - asset [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 652 | 609 |
Mortgage banking derivative - asset [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage banking derivative - asset [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 652 | 609 |
Mortgage banking derivative - asset [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage banking derivative -liability [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 12 | 11 |
Mortgage banking derivative -liability [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage banking derivative -liability [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 12 | 11 |
Mortgage banking derivative -liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 0 | $ 0 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Impaired loans | ||
Total impaired loans | $ 0 | $ 4,604 |
Mortgage servicing rights | 539 | 534 |
Real estate held for sale | ||
Total real estate held for sale | 705 | 227 |
Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 1,787 |
Real estate held for sale | ||
Total real estate held for sale | 705 | 227 |
Commercial [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 2,817 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 539 | 534 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Commercial [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 4,604 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 705 | 227 |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 1,787 |
Real estate held for sale | ||
Total real estate held for sale | 705 | 227 |
Fair Value, Inputs, Level 3 [Member] | Commercial [Member] | ||
Impaired loans | ||
Total impaired loans | $ 0 | $ 2,817 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 0 | $ 4,604 |
Real estate held for sale - Applies to all classes, Fair Value | 705 | 227 |
Range Of Input 0-20% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Real estate held for sale - Applies to all classes, Fair Value | $ 227 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for changes in market conditions | |
Fair Value Measurement Weighted Average Range | 0.00% | |
Range of Input Zero Percentage [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value Measurement Range Of Input | 0.00% | |
Range of Input 20% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trust preferred stock, Fair Value | $ 705 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for changes in market conditions | |
Fair Value Measurement Range Of Input | 20.00% | |
Fair Value Measurement Weighted Average Range | 20.00% | |
Range of Input 10-20% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 4,604 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for collection issues and changes in market conditions | |
Fair Value, Range of Input, Minimum | 10.00% | |
Fair Value, Range of Input, Maximum | 20.00% | |
Fair Value Measurement Weighted Average Range | 10.00% |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Financial Assets, Carrying Value: | ||||
Cash and cash equivalents, Carrying Value | $ 138,566 | $ 113,693 | $ 169,998 | $ 99,003 |
Investment securities, Carrying Value | 270,752 | 261,298 | ||
Federal Home Loan Bank Stock, Carrying Value | 15,989 | 15,992 | ||
Loans, including loans held for sale, Carrying Value | 2,369,596 | 2,332,465 | ||
Accrued interest receivable, Carrying Value | 9,359 | 8,706 | ||
Financial Liabilities, Carrying Value: | ||||
Deposits, Carrying Value | 2,491,801 | 2,437,656 | ||
Advances from Federal Home Loan Bank, Carrying Value | 71,001 | 84,279 | ||
Securities sold under repurchase agreements, Carrying Value | 9,321 | 26,019 | ||
Subordinated debentures, Carrying Value | 36,083 | 36,083 | ||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 138,566 | 113,693 | ||
Investment securities, Fair Value | 270,752 | 261,299 | ||
Loans, including loans held for sale, Fair Value | 2,318,895 | 2,315,791 | ||
Accrued interest receivable, Fair Value | 9,359 | 8,706 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 2,483,228 | 2,444,683 | ||
Advances from Federal Home Loan Bank, Fair Value | 69,665 | 83,261 | ||
Securities sold under repurchase agreements, Fair Value | 9,321 | 26,019 | ||
Subordinated debentures, Fair Value | 35,558 | 35,385 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 138,566 | 113,693 | ||
Investment securities, Fair Value | 0 | 1 | ||
Loans, including loans held for sale, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 9 | 13 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 550,742 | 571,360 | ||
Advances from Federal Home Loan Bank, Fair Value | 0 | 0 | ||
Securities sold under repurchase agreements, Fair Value | 0 | 0 | ||
Subordinated debentures, Fair Value | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Investment securities, Fair Value | 270,752 | 261,298 | ||
Loans, including loans held for sale, Fair Value | 11,674 | 10,830 | ||
Accrued interest receivable, Fair Value | 1,510 | 917 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,932,486 | 1,873,323 | ||
Advances from Federal Home Loan Bank, Fair Value | 69,665 | 83,261 | ||
Securities sold under repurchase agreements, Fair Value | 9,321 | 26,019 | ||
Subordinated debentures, Fair Value | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Investment securities, Fair Value | 0 | 0 | ||
Loans, including loans held for sale, Fair Value | 2,307,221 | 2,304,961 | ||
Accrued interest receivable, Fair Value | 7,840 | 7,776 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 0 | 0 | ||
Advances from Federal Home Loan Bank, Fair Value | 0 | 0 | ||
Securities sold under repurchase agreements, Fair Value | 0 | 0 | ||
Subordinated debentures, Fair Value | $ 35,558 | $ 35,385 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | $ 0 | $ 4,604,000 | |
Impaired Financing Receivables, Provisional Expenses | 134,000 | $ 208,000 | |
Mortgage Servicing Rights at Fair Value | 539,000 | 534,000 | |
Valuation Allowance of Mortgage Servicing Rights | 395,000 | 432,000 | |
Proceeds from Collection of Loans Receivable | 37,000 | $ 33,000 | |
Real Estate Held-for-sale, Increase (Decrease) in Fair Value | 544,000 | ||
Impaired Financing Receivable, Related Allowance | 779,000 | 758,000 | |
Collateral Dependent Loan [Member] | |||
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | 0 | 4,600,000 | |
Impaired Financing Receivable, Related Allowance | $ 0 | $ 0 | |
Minimum [Member] | Real Estate held for sale [Member] | |||
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Fair Value Inputs, Discount Rate | 0.00% | ||
Maximum [Member] | Real Estate held for sale [Member] | |||
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Fair Value Inputs, Discount Rate | 30.00% |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($)$ / sharesshares | |
Options Outstanding, January 1, 2018 | shares | 43,450 |
Options Outstanding, Forfeited or cancelled | shares | 0 |
Options Outstanding, Exercised | shares | (6,250) |
Options Outstanding, Granted | shares | 0 |
Options outstanding, March 31, 2018 | shares | 37,200 |
Options Outstanding, Vested or expected to vest at March 31, 2018 | shares | 37,200 |
Options Outstanding, Exercisable at March 31, 2018 | shares | 29,450 |
Weighted Average Exercise Price, Outstanding, January 1, 2018 | $ / shares | $ 21.62 |
Weighted Average Exercise Price, Forfeited or cancelled | $ / shares | 0 |
Weighted Average Exercise Price, Exercised | $ / shares | 15.53 |
Weighted Average Exercise Price, Granted | $ / shares | 0 |
Weighted Average Exercise Price, outstanding, March 31, 2018 | $ / shares | 22.6 |
Weighted Average Exercise Price, Vested or expected to vest at March 31, 2018 | $ / shares | 22.6 |
Weighted Average Exercise Price, Exercisable at March 31, 2018 | $ / shares | $ 19.74 |
Weighted Average Remaining Contractual Term (in years), outstanding, March 31, 2018 | 3 years 3 months 25 days |
Weighted Average Remaining Contractual Term (in years), Vested or expected to vest at March 31, 2018 | 3 years 3 months 25 days |
Weighted Average Remaining Contractual Term (in years), Exercisable at March 31, 2018 | 2 years 4 months 10 days |
Aggregate Intrinsic Value, outstanding, March 31, 2018 | $ | $ 1,291 |
Aggregate Intrinsic Value, Vested or expected to vest at March 31, 2018 | $ | 1,291 |
Aggregate Intrinsic Value, Exercisable at March 31, 2018 | $ | $ 1,107 |
Stock Compensation Plans (Det48
Stock Compensation Plans (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Proceeds of options exercised | $ 56 | $ 134 |
Related tax benefit recognized | 21 | 44 |
Intrinsic value of options exercised | $ 253 | $ 200 |
Stock Compensation Plans (Det49
Stock Compensation Plans (Details 2) | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Restricted Stock Units (RSUs) [Member] | |
Shares, Unvested at January 1, 2018 | shares | 72,538 |
Shares, Granted | shares | 24,416 |
Shares, Vested | shares | (24,757) |
Shares, Forfeited | shares | 0 |
Shares, Unvested at March 31, 2018 | shares | 72,197 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2018 | $ / shares | $ 40.52 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 53.94 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 32.3 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 0 |
Weighted-Average Grant Date Fair Value, Unvested at March 31, 2018 | $ / shares | $ 47.87 |
Stock Grants [Member] | |
Shares, Unvested at January 1, 2018 | shares | 10,536 |
Shares, Granted | shares | 28,757 |
Shares, Vested | shares | (24,757) |
Shares, Forfeited | shares | 0 |
Shares, Unvested at March 31, 2018 | shares | 14,536 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2018 | $ / shares | $ 50.56 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 35.79 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 32.3 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 0 |
Weighted-Average Grant Date Fair Value, Unvested at March 31, 2018 | $ / shares | $ 52.44 |
Stock Compensation Plans (Det50
Stock Compensation Plans (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Mar. 15, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 37,200 | 43,450 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $ 90,000 | |||
Employee Service Share Based Compensation Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition (in years) | 2 years 1 month 6 days | |||
Allocated Share-based Compensation Expense | $ 565,000 | $ 849,000 | ||
Compensation Expense, Maximum | 3,900,000 | |||
Estimated Compensation Expense, Excepted | 3,600,000 | |||
Unrecognized Compensation Expense | $ 2,000,000 | |||
Restricted Stock Units (Rsus) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,578 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 72,197 | |||
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period | 14,536 | |||
Short-term Equity Incentive Plan 2013 [Member] | ||||
Stock Option Period, Description | All options expire ten years from the date of grant. Vested options of retirees expire on the earlier of the scheduled expiration date or three months after the retirement date. | |||
Equity Plan 2010 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 350,000 | |||
Short Term Equity Incentive Plan 2014 [Member] | ||||
Option Subscription, Description | The final amount of benefits under the STIPs is determined as of December31 of the same year and paid out in cash in the first quarter of the following year. | |||
Long Term Equity Incentive Plan 2014 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,757 | |||
Option Subscription, Description | The amount of benefit under each LTIP will be determined individually at the end of the 36 month performance period ending December31. The benefits earned under each LTIP will be paid out in equity in the first quarter following the end of the performance period. The participants are required to be employed on the day of payout in order to receive such payment. | |||
Long Term Equity Incentive Plan 2015 [Member] | ||||
Option Subscription, Description | The amount of benefit under each LTIP will be determined individually at the end of the 36 month performance period ending December31. The benefits earned under each LTIP will be paid out in equity in the first quarter following the end of the performance period. The participants are required to be employed on the day of payout in order to receive such payment. | |||
Short Term Equity Incentive Plan 2015 [Member] | ||||
Option Subscription, Description | The final amount of benefits under the STIPs is determined as of December31 of the same year and paid out in cash in the first quarter of the following year. | |||
Long Term Equity Incentive Plan 2016 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,526 | |||
Long Term Equity Incentive Plan 2016 [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | |||
Short Term Equity Incentive Plan 2016 [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | |||
Long Term Equity Incentive Plan 2017 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 20,657 | |||
Long Term Equity Incentive Plan 2017 [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 20.00% | |||
Short Term Equity Incentive Plan 2017 [Member] | ||||
Allocated Share-based Compensation Expense | $ 211,000 | $ 774,000 | ||
Short Term Equity Incentive Plan 2017 [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | |||
Stock Option Grant [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | 20.00% | |||
Restricted Stock Grants [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 4,000 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 7,578 | |||
LongTermEquityIncentivePlan2018 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 20,838 |
Dividends on Common Stock (Deta
Dividends on Common Stock (Details Textual) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.30 | |
Common Stock, Dividends, Per Share, Declared | $ 0.3 | $ 0.25 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Basic Earnings Per Share: | ||
Net income available to common shareholders | $ 11,737 | $ 5,140 |
Less: Income allocated to participating securities | 3 | 1 |
Net income allocated to common shareholders | $ 11,734 | $ 5,139 |
Weighted average common shares outstanding Including participating securities | 10,176 | 9,446 |
Less: Participating securities | 11 | 5 |
Average common shares | 10,165 | 9,441 |
Basic earnings per common share | $ 1.15 | $ 0.54 |
Diluted Earnings Per Share: | ||
Net income allocated to common shareholders | $ 11,734 | $ 5,139 |
Weighted average common shares outstanding for basic earnings per common share | 10,165 | 9,441 |
Add: Dilutive effects of stock options | 54 | 56 |
Average shares and dilutive potential common shares | 10,219 | 9,497 |
Diluted earnings per common share | $ 1.15 | $ 0.54 |
Earnings Per Common Share (De53
Earnings Per Common Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,500 | 4,569 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Available-for-sale Securities | |||
Available-for-Sale Securities, Amortized Cost | $ 272,744 | $ 259,726 | |
Available-for-Sale Securities, Gross Unrealized Gains | 1,943 | 2,886 | |
Available-for-Sale Securities, Gross Unrealized Losses | (4,577) | (1,962) | |
Available-for-Sale Securities, Fair Value | 270,110 | 260,650 | |
Held-to-Maturity Securities | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 642 | 648 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 0 | 1 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-Maturity Securities, Fair Value | [1] | 642 | 649 |
Obligations of U.S. government corporations and agencies [Member] | |||
Available-for-sale Securities | |||
Available-for-Sale Securities, Amortized Cost | 2,518 | 518 | |
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 0 | |
Available-for-Sale Securities, Gross Unrealized Losses | (17) | (10) | |
Available-for-Sale Securities, Fair Value | 2,501 | 508 | |
Mortgage-backed securities - residential [Member] | |||
Available-for-sale Securities | |||
Available-for-Sale Securities, Amortized Cost | 64,093 | 59,942 | |
Available-for-Sale Securities, Gross Unrealized Gains | 57 | 90 | |
Available-for-Sale Securities, Gross Unrealized Losses | (1,732) | (763) | |
Available-for-Sale Securities, Fair Value | 62,418 | 59,269 | |
REMICs [Member] | |||
Available-for-sale Securities | |||
Available-for-Sale Securities, Amortized Cost | 1,025 | 1,072 | |
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 0 | |
Available-for-Sale Securities, Gross Unrealized Losses | (5) | (7) | |
Available-for-Sale Securities, Fair Value | 1,020 | 1,065 | |
Collateralized mortgage obligations [Member] | |||
Available-for-sale Securities | |||
Available-for-Sale Securities, Amortized Cost | 97,115 | 94,588 | |
Available-for-Sale Securities, Gross Unrealized Gains | 46 | 180 | |
Available-for-Sale Securities, Gross Unrealized Losses | (1,969) | (892) | |
Available-for-Sale Securities, Fair Value | 95,192 | 93,876 | |
Preferred stock [Member] | |||
Available-for-sale Securities | |||
Available-for-Sale Securities, Amortized Cost | 0 | ||
Available-for-Sale Securities, Gross Unrealized Gains | 1 | ||
Available-for-Sale Securities, Gross Unrealized Losses | 0 | ||
Available-for-Sale Securities, Fair Value | 1 | ||
Corporate bonds [Member] | |||
Available-for-sale Securities | |||
Available-for-Sale Securities, Amortized Cost | 12,913 | 12,914 | |
Available-for-Sale Securities, Gross Unrealized Gains | 129 | 189 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | 0 | |
Available-for-Sale Securities, Fair Value | 13,042 | 13,103 | |
Obligations of state and political subdivisions [Member] | |||
Available-for-sale Securities | |||
Available-for-Sale Securities, Amortized Cost | 95,080 | 90,692 | |
Available-for-Sale Securities, Gross Unrealized Gains | 1,711 | 2,426 | |
Available-for-Sale Securities, Gross Unrealized Losses | (854) | (290) | |
Available-for-Sale Securities, Fair Value | 95,937 | 92,828 | |
Held-to-Maturity Securities | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 580 | 580 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-Maturity Securities, Fair Value | [1] | 580 | 580 |
FHLMC certificates [Member] | |||
Held-to-Maturity Securities | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 9 | 10 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-Maturity Securities, Fair Value | [1] | 9 | 10 |
FNMA certificates [Member] | |||
Held-to-Maturity Securities | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 38 | 41 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 0 | 1 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-Maturity Securities, Fair Value | [1] | 38 | 42 |
GNMA certificates [Member] | |||
Held-to-Maturity Securities | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 15 | 17 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-Maturity Securities, Fair Value | [1] | $ 15 | $ 17 |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Available-for-sale, Due in one year or less, Amortized Cost | $ 1,408 | ||
Available-for-sale, Due after one year through five years, Amortized Cost | 22,370 | ||
Available-for-sale, Due after five years through ten years, Amortized Cost | 38,284 | ||
Available-for-sale, Due after ten years, Amortized Cost | 48,449 | ||
Available-for-sale, MBS/CMO/REMIC, Amortized Cost | 162,233 | ||
Available-for-sale, Amortized Cost | 272,744 | ||
Available-for-sale, Due in one year or less, Fair Value | 1,420 | ||
Available-for-sale, Due after one year through five years, Fair Value | 22,694 | ||
Available-for-sale, Due after five years through ten years, Fair Value | 39,267 | ||
Available-for-sale, Due after ten years, Fair Value | 48,099 | ||
Available-for-sale, MBS/CMO/REMIC, Fair Value | 158,630 | ||
Available-for-sale, Fair Value | 270,110 | $ 260,650 | |
Held-to-maturity Securities, Due in one year or less, Amortized Cost | 0 | ||
Held-to-maturity Securities, Due after one year through five years, Amortized Cost | 62 | ||
Held-to-maturity,Securities, Due after five years through ten years, Amortized Cost | 518 | ||
Held-to-maturity Securities, Due after ten years,Amorized Cost | 0 | ||
Held-to-maturity, MBS/CMO/REMIC, Amortized Cost | 62 | ||
Held-to-maturity, Amortized Cost | [1] | 642 | 648 |
Held-to-maturity Securities, Due in one year or less, Fair Value | 0 | ||
Held-to-maturity Securities, Due after one year through five years, Fair Value | 62 | ||
Held-to-maturity, Securites, Due after five years through ten years, Fair Value | 518 | ||
Held-to-maturity Securities, Due after ten years, Fair Value | 0 | ||
Held-to-maturity, MBS/CMO/REMIC, Fair Value | 62 | ||
Held-to-maturity, Fair Value | [1] | $ 642 | $ 649 |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Detail56
Investment Securities (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Held to maturity securities: | ||
Held-to-maturity Securities, Duration of Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 12 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Less than 12 Months, Gross Unrealized Loss | 0 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Fair Value | 9 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, 12 Months or Longer, Gross Unrealized Loss | 0 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Fair Value | 21 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Gross Unrealized Loss | 0 | |
Total temporarily impaired securities, Duration Unrealized Loss Position, Less Than Twelve Months, Fair Value | $ 136,296 | 92,314 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Less Than 12 Months, Gross Unrealized Loss | (2,742) | (705) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Fair Value | 38,141 | 43,729 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Gross Unrealized Loss | (1,835) | (1,257) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Fair Value | 174,437 | 136,043 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Unrealized Loss | (4,577) | (1,962) |
Collateralized mortgage obligations [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 73,810 | 49,107 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (1,214) | (320) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 16,646 | 20,804 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (755) | (572) |
Available-for-sale securities, Total, Fair Value | 90,456 | 69,911 |
Available-for-sale securities, Total, Unrealized Loss | (1,969) | (892) |
Obligations of state and political subdivisions [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 24,030 | 14,249 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (641) | (163) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 3,285 | 3,370 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (213) | (127) |
Available-for-sale securities, Total, Fair Value | 27,315 | 17,619 |
Available-for-sale securities, Total, Unrealized Loss | (854) | (290) |
Mortgage-backed securities - residential [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 36,935 | 27,881 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (865) | (215) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 18,210 | 19,038 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (867) | (548) |
Available-for-sale securities, Total, Fair Value | 55,145 | 46,919 |
Available-for-sale securities, Total, Unrealized Loss | (1,732) | (763) |
REMICs [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 1,020 | 1,065 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (5) | (7) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | 0 |
Available-for-sale securities, Total, Fair Value | 1,020 | 1,065 |
Available-for-sale securities, Total, Unrealized Loss | (5) | (7) |
Obligations of U.S. government corporations and agencies [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 501 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (17) | 0 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 508 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | (10) |
Available-for-sale securities, Total, Fair Value | 501 | 508 |
Available-for-sale securities, Total, Unrealized Loss | $ (17) | $ (10) |
Investment Securities (Detail57
Investment Securities (Details Textual) $ in Millions | Mar. 31, 2018USD ($) |
Security Owned and Pledged as Collateral Carrying Value | $ 151.6 |
Investment Portfolio, Number of Securities | 425 |
Investment Portfolio, Number of Securities, Unrealized Loss | 167 |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Real Estate: | ||||
Real Estate | $ 1,809,518 | $ 1,775,559 | ||
Other Loans: | ||||
Total loans | 2,471,456 | 2,466,267 | ||
Deduct: | ||||
Undisbursed loan funds | (111,450) | (115,972) | ||
Net deferred loan origination fees and costs | (1,676) | (1,582) | ||
Allowance for loan loss | (27,267) | (26,683) | $ (25,749) | $ (25,884) |
Totals | 2,331,063 | 2,322,030 | ||
Other Loan [Member] | ||||
Other Loans: | ||||
Total loans | 661,938 | 690,708 | ||
One to Four Family Residential Real Estate [Member] | ||||
Real Estate: | ||||
Real Estate | 275,547 | 274,862 | ||
Multi Family Residential [Member] | ||||
Real Estate: | ||||
Real Estate | 270,733 | 248,092 | ||
Commercial Real Estate [Member] | ||||
Real Estate: | ||||
Real Estate | 1,011,294 | 987,129 | ||
Construction Loans [Member] | ||||
Real Estate: | ||||
Real Estate | 251,944 | 265,476 | ||
Commercial Loan [Member] | ||||
Other Loans: | ||||
Total loans | 500,496 | 526,142 | ||
Home Equity and Home Improvement [Member] | ||||
Other Loans: | ||||
Total loans | 133,407 | 135,457 | ||
Consumer finance [Member] | ||||
Other Loans: | ||||
Total loans | $ 28,035 | $ 29,109 |
Loans (Details 1)
Loans (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | $ 26,683 | $ 25,884 |
Charge-Offs | (316) | (464) |
Recoveries | 1,995 | 274 |
Provisions | (1,095) | 55 |
Ending Allowance | 27,267 | 25,749 |
One to Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 2,532 | 2,627 |
Charge-Offs | (16) | (49) |
Recoveries | 24 | 56 |
Provisions | (6) | (13) |
Ending Allowance | 2,534 | 2,621 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 2,702 | 2,228 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 32 |
Provisions | 281 | (138) |
Ending Allowance | 2,983 | 2,122 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 10,354 | 10,625 |
Charge-Offs | (55) | (290) |
Recoveries | 184 | 34 |
Provisions | 290 | (159) |
Ending Allowance | 10,773 | 10,210 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 647 | 450 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 20 | 8 |
Ending Allowance | 667 | 458 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 7,965 | 7,361 |
Charge-Offs | (97) | 0 |
Recoveries | 1,757 | 115 |
Provisions | (1,787) | 333 |
Ending Allowance | 7,838 | 7,809 |
Home Equity and Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 2,255 | 2,386 |
Charge-Offs | (117) | (54) |
Recoveries | 28 | 33 |
Provisions | 43 | (65) |
Ending Allowance | 2,209 | 2,300 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 228 | 207 |
Charge-Offs | (31) | (71) |
Recoveries | 2 | 4 |
Provisions | 64 | 89 |
Ending Allowance | $ 263 | $ 229 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | $ 779 | $ 758 |
Collectively evaluated for impairment | 26,488 | 25,925 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 27,267 | 26,683 |
Loans: | ||
Loans individually evaluated for impairment | 51,056 | 56,608 |
Loans collectively evaluated for impairment | 2,311,428 | 2,296,053 |
Loans acquired with deteriorated credit quality | 3,687 | 3,828 |
Total ending loans balance | 2,366,171 | 2,356,489 |
One to Four Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 218 | 167 |
Collectively evaluated for impairment | 2,316 | 2,365 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,534 | 2,532 |
Loans: | ||
Loans individually evaluated for impairment | 7,117 | 6,910 |
Loans collectively evaluated for impairment | 267,814 | 267,377 |
Loans acquired with deteriorated credit quality | 1,045 | 1,069 |
Total ending loans balance | 275,976 | 275,356 |
Multi Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 2 | 7 |
Collectively evaluated for impairment | 2,981 | 2,695 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,983 | 2,702 |
Loans: | ||
Loans individually evaluated for impairment | 2,042 | 2,278 |
Loans collectively evaluated for impairment | 268,745 | 245,823 |
Loans acquired with deteriorated credit quality | 300 | 301 |
Total ending loans balance | 271,087 | 248,402 |
Commercial Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 164 | 118 |
Collectively evaluated for impairment | 10,609 | 10,236 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 10,773 | 10,354 |
Loans: | ||
Loans individually evaluated for impairment | 30,070 | 31,821 |
Loans collectively evaluated for impairment | 982,263 | 956,238 |
Loans acquired with deteriorated credit quality | 2,024 | 2,121 |
Total ending loans balance | 1,014,357 | 990,180 |
Construction Loans [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 667 | 647 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 667 | 647 |
Loans: | ||
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 140,221 | 149,174 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 140,221 | 149,174 |
Commercial Loan [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 83 | 187 |
Collectively evaluated for impairment | 7,755 | 7,778 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 7,838 | 7,965 |
Loans: | ||
Loans individually evaluated for impairment | 10,328 | 14,373 |
Loans collectively evaluated for impairment | 491,616 | 513,218 |
Loans acquired with deteriorated credit quality | 318 | 337 |
Total ending loans balance | 502,262 | 527,928 |
Home Equity and Home Improvement [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 312 | 279 |
Collectively evaluated for impairment | 1,897 | 1,976 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,209 | 2,255 |
Loans: | ||
Loans individually evaluated for impairment | 1,463 | 1,176 |
Loans collectively evaluated for impairment | 132,707 | 135,098 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 134,170 | 136,274 |
Consumer Finance [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 263 | 228 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 263 | 228 |
Loans: | ||
Loans individually evaluated for impairment | 36 | 50 |
Loans collectively evaluated for impairment | 28,062 | 29,125 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | $ 28,098 | $ 29,175 |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | $ 50,727 | $ 28,995 |
Interest Income Recognized | 362 | 249 |
Cash Basis Income Recognized | 288 | 212 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 4,639 | 2,820 |
Interest Income Recognized | 32 | 28 |
Cash Basis Income Recognized | 31 | 28 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 2,509 | 3,891 |
Interest Income Recognized | 44 | 36 |
Cash Basis Income Recognized | 41 | 36 |
Total Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 7,148 | 6,711 |
Interest Income Recognized | 76 | 64 |
Cash Basis Income Recognized | 72 | 64 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 0 | 3,374 |
Interest Income Recognized | 0 | 10 |
Cash Basis Income Recognized | 0 | 10 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 2,049 | 4,614 |
Interest Income Recognized | 27 | 22 |
Cash Basis Income Recognized | 26 | 22 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 13,225 | 4,499 |
Interest Income Recognized | 44 | 42 |
Cash Basis Income Recognized | 35 | 39 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 3,482 | 2,707 |
Interest Income Recognized | 34 | 47 |
Cash Basis Income Recognized | 34 | 19 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 11,516 | 1,668 |
Interest Income Recognized | 95 | 13 |
Cash Basis Income Recognized | 42 | 12 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 1,486 | 13,488 |
Interest Income Recognized | 25 | 124 |
Cash Basis Income Recognized | 20 | 92 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 29,709 | 0 |
Interest Income Recognized | 198 | 0 |
Cash Basis Income Recognized | 131 | 0 |
Commercial Working Capital Or Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 5,208 | 2,372 |
Interest Income Recognized | 24 | 19 |
Cash Basis Income Recognized | 24 | 19 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 5,100 | 1,722 |
Interest Income Recognized | 25 | 21 |
Cash Basis Income Recognized | 23 | 16 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 10,308 | 4,094 |
Interest Income Recognized | 49 | 40 |
Cash Basis Income Recognized | 47 | 35 |
Home Equity and Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 1,474 | 1,254 |
Interest Income Recognized | 11 | 10 |
Cash Basis Income Recognized | 11 | 10 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 39 | 74 |
Interest Income Recognized | 1 | 1 |
Cash Basis Income Recognized | $ 1 | $ 1 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | $ 43,880 | $ 51,731 |
Recorded Investment, With no allowance | 42,976 | 48,548 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 8,818 | 8,812 |
Recorded Investment, With an Allowance | 8,080 | 8,060 | |
Allowance for Loan Losses Allocated, With an Allowance | 779 | 758 | |
Residential Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,744 | 2,507 |
Recorded Investment, With no allowance | 2,597 | 2,364 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,998 | 1,841 |
Recorded Investment, With an Allowance | 1,978 | 1,814 | |
Allowance for Loan Losses Allocated, With an Allowance | 144 | 137 | |
Residential Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,468 | 1,711 |
Recorded Investment, With no allowance | 1,464 | 1,708 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,076 | 1,031 |
Recorded Investment, With an Allowance | 1,078 | 1,024 | |
Allowance for Loan Losses Allocated, With an Allowance | 74 | 30 | |
One To Four Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,212 | 4,218 |
Recorded Investment, With no allowance | 4,061 | 4,072 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 3,074 | 2,872 |
Recorded Investment, With an Allowance | 3,056 | 2,838 | |
Allowance for Loan Losses Allocated, With an Allowance | 218 | 167 | |
Multi Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,863 | 2,095 |
Recorded Investment, With no allowance | 1,870 | 2,102 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 171 | 175 |
Recorded Investment, With an Allowance | 172 | 176 | |
Allowance for Loan Losses Allocated, With an Allowance | 2 | 7 | |
Commercial Real Estate Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 11,847 | 12,273 |
Recorded Investment, With no allowance | 11,387 | 11,804 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 2,077 | 2,007 |
Recorded Investment, With an Allowance | 1,616 | 1,546 | |
Allowance for Loan Losses Allocated, With an Allowance | 50 | 44 | |
Commercial Real Estate Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,035 | 3,085 |
Recorded Investment, With no allowance | 2,873 | 2,925 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 644 | 651 |
Recorded Investment, With an Allowance | 584 | 593 | |
Allowance for Loan Losses Allocated, With an Allowance | 42 | 28 | |
Agriculture Land [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 11,682 | 13,029 |
Recorded Investment, With no allowance | 11,860 | 13,185 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 287 | 293 |
Recorded Investment, With an Allowance | 284 | 292 | |
Allowance for Loan Losses Allocated, With an Allowance | 32 | 14 | |
Commercial Real Estate Other Receivables [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 959 | 981 |
Recorded Investment, With no allowance | 748 | 768 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 916 | 909 |
Recorded Investment, With an Allowance | 718 | 708 | |
Allowance for Loan Losses Allocated, With an Allowance | 40 | 32 | |
Commercial Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 27,523 | 29,368 |
Recorded Investment, With no allowance | 26,868 | 28,682 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 3,924 | 3,860 |
Recorded Investment, With an Allowance | 3,202 | 3,139 | |
Allowance for Loan Losses Allocated, With an Allowance | 164 | 118 | |
Construction [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 0 | 0 |
Recorded Investment, With no allowance | 0 | 0 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 0 | 0 |
Recorded Investment, With an Allowance | 0 | 0 | |
Allowance for Loan Losses Allocated, With an Allowance | 0 | 0 | |
Commercial Working Capital Or Other [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,888 | 5,462 |
Recorded Investment, With no allowance | 4,815 | 5,422 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 458 | 447 |
Recorded Investment, With an Allowance | 461 | 449 | |
Allowance for Loan Losses Allocated, With an Allowance | 62 | 77 | |
Commercial Loans Other [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,744 | 9,916 |
Recorded Investment, With no allowance | 4,757 | 7,644 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 293 | 854 |
Recorded Investment, With an Allowance | 295 | 858 | |
Allowance for Loan Losses Allocated, With an Allowance | 21 | 110 | |
Commercial Loan [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 9,632 | 15,378 |
Recorded Investment, With no allowance | 9,572 | 13,066 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 751 | 1,301 |
Recorded Investment, With an Allowance | 756 | 1,307 | |
Allowance for Loan Losses Allocated, With an Allowance | 83 | 187 | |
Home Equity and Improvement [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 614 | 630 |
Recorded Investment, With no allowance | 569 | 584 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 898 | 596 |
Recorded Investment, With an Allowance | 894 | 592 | |
Allowance for Loan Losses Allocated, With an Allowance | 312 | 279 | |
Consumer Finance [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 36 | 42 |
Recorded Investment, With no allowance | 36 | 42 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 0 | 8 |
Recorded Investment, With an Allowance | 0 | 8 | |
Allowance for Loan Losses Allocated, With an Allowance | $ 0 | $ 0 | |
[1] | Presented gross of charge offs |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 27,925 | $ 30,715 |
Loans over 90 days past due and still accruing | 0 | 0 |
Total non-performing loans | 27,925 | 30,715 |
Real estate and other assets held for sale | 1,440 | 1,532 |
Total non-performing assets | 29,365 | 32,247 |
Troubled debt restructuring, still accruing | $ 13,722 | $ 13,770 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | $ 2,359,038 | $ 2,343,042 |
Total Past Due | 7,133 | 13,447 |
Total Non Accrual | 27,915 | 30,703 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,860 | 5,326 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 467 | 3,098 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,806 | 5,023 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 177,799 | 175,139 |
Total Past Due | 1,729 | 3,081 |
Total Non Accrual | 2,111 | 2,510 |
Residential Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 537 | 821 |
Residential Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 259 | 1,033 |
Residential Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 933 | 1,227 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 96,275 | 96,400 |
Total Past Due | 173 | 736 |
Total Non Accrual | 342 | 520 |
Residential Non Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 76 | 495 |
Residential Non Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 8 |
Residential Non Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 97 | 233 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 274,074 | 271,539 |
Total Past Due | 1,902 | 3,817 |
Total Non Accrual | 2,453 | 3,030 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 613 | 1,316 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 259 | 1,041 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,030 | 1,460 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 271,087 | 247,980 |
Total Past Due | 0 | 422 |
Total Non Accrual | 124 | 128 |
Multi Family Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 422 |
Multi Family Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Multi Family Residential Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 407,019 | 393,125 |
Total Past Due | 1,515 | 1,651 |
Total Non Accrual | 10,170 | 10,775 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 592 | 195 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 76 | 188 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 847 | 1,268 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 424,247 | 403,656 |
Total Past Due | 1,366 | 516 |
Total Non Accrual | 2,164 | 2,431 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,074 | 1 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 29 | 91 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 263 | 424 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 130,940 | 131,753 |
Total Past Due | 290 | 478 |
Total Non Accrual | 4,275 | 4,144 |
Agriculture Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 82 | 412 |
Agriculture Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Agriculture Land [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 208 | 66 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 48,868 | 58,784 |
Total Past Due | 112 | 217 |
Total Non Accrual | 611 | 734 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 13 | 13 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 99 | 204 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 1,011,074 | 987,318 |
Total Past Due | 3,283 | 2,862 |
Total Non Accrual | 17,220 | 18,084 |
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,761 | 621 |
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 105 | 279 |
Commercial Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,417 | 1,962 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 140,221 | 149,174 |
Total Past Due | 0 | 0 |
Total Non Accrual | 0 | 0 |
Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Working Capital Or Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 229,844 | 233,632 |
Total Past Due | 309 | 2,242 |
Total Non Accrual | 3,550 | 2,369 |
Commercial Working Capital Or Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 209 | 102 |
Commercial Working Capital Or Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 1,264 |
Commercial Working Capital Or Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 100 | 876 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 271,422 | 291,455 |
Total Past Due | 687 | 599 |
Total Non Accrual | 3,620 | 6,474 |
Commercial Loans Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 49 | 82 |
Commercial Loans Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Loans Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 638 | 517 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 501,266 | 525,087 |
Total Past Due | 996 | 2,841 |
Total Non Accrual | 7,170 | 8,843 |
Commercial Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 258 | 184 |
Commercial Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 1,264 |
Commercial Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 738 | 1,393 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 27,764 | 28,800 |
Total Past Due | 334 | 375 |
Total Non Accrual | 39 | 27 |
Consumer Finance [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 199 | 293 |
Consumer Finance [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 96 | 80 |
Consumer Finance [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 39 | 2 |
Home Equity and Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 133,552 | 133,144 |
Total Past Due | 618 | 3,130 |
Total Non Accrual | 909 | 591 |
Home Equity and Improvement [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 29 | 2,490 |
Home Equity and Improvement [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 7 | 434 |
Home Equity and Improvement [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | $ 582 | $ 206 |
Loans (Details 7)
Loans (Details 7) - TDRs [Member] $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)Number | Mar. 31, 2017USD ($)Number | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 10 | 11 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 2,978 | $ 389 |
1-4 Family Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 3 | 4 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 145 | $ 100 |
1-4 Family Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 1 | 2 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 69 | $ 84 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 2 | 1 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 650 | $ 119 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Other Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 4 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 2,114 | $ 0 |
Commercial Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 1 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 46 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 1 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 25 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Number | 0 | 2 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 15 |
Loans (Details 8)
Loans (Details 8) - Subsequently Defaulted [Member] $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)Number | Mar. 31, 2017USD ($)Number | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 1 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 197 | $ 0 |
1-4 Family Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
1-4 Family Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Working Capital Or Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 1 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 197 | $ 0 |
Home Equity and Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Number | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Loans (Details 9)
Loans (Details 9) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 2,366,171 | $ 2,356,489 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,900,623 | 1,901,149 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 52,852 | 32,539 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 53,361 | 59,667 |
Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 359,335 | 363,134 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 179,529 | 178,220 |
Residential Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,764 | 7,534 |
Residential Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 96 | 99 |
Residential Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,387 | 2,367 |
Residential Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Residential Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 170,282 | 168,220 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 96,447 | 97,136 |
Residential Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 84,434 | 85,802 |
Residential Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,280 | 935 |
Residential Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,385 | 3,835 |
Residential Non Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Residential Non Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,348 | 6,564 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 275,976 | 275,356 |
One To Four Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 91,198 | 93,336 |
One To Four Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,376 | 1,034 |
One To Four Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,772 | 6,202 |
One To Four Family Residential Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
One To Four Family Residential Real Estate [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 177,630 | 174,784 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 271,087 | 248,402 |
Multi Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 266,216 | 242,969 |
Multi Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,063 | 2,503 |
Multi Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,698 | 2,819 |
Multi Family Residential Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Multi Family Residential Real Estate [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 110 | 111 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 409,017 | 394,776 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 384,271 | 370,613 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 11,521 | 10,432 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 13,100 | 13,575 |
Commercial Real Estate Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 125 | 156 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 425,131 | 404,172 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 412,587 | 395,264 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,425 | 3,464 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,119 | 5,444 |
Commercial Real Estate Non Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Non Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 131,229 | 132,231 |
Agriculture Land [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 109,860 | 114,776 |
Agriculture Land [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,896 | 2,639 |
Agriculture Land [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 13,473 | 14,816 |
Agriculture Land [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Agriculture Land [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 48,980 | 59,001 |
Commercial Real Estate Other Receivable [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 46,014 | 56,133 |
Commercial Real Estate Other Receivable [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 159 | 165 |
Commercial Real Estate Other Receivable [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,664 | 1,788 |
Commercial Real Estate Other Receivable [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,143 | 915 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,014,357 | 990,180 |
Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 952,732 | 936,786 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 27,001 | 16,700 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 33,356 | 35,623 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,268 | 1,071 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 140,221 | 149,174 |
Construction Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 119,950 | 125,519 |
Construction Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,153 | 1,254 |
Construction Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Construction Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Construction Loans [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 19,118 | 22,401 |
Commercial Working Capital Or Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 230,153 | 235,874 |
Commercial Working Capital Or Other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 206,697 | 222,526 |
Commercial Working Capital Or Other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 18,428 | 7,605 |
Commercial Working Capital Or Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,028 | 5,743 |
Commercial Working Capital Or Other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Working Capital Or Other [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 272,109 | 292,054 |
Commercial Loans Other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 263,830 | 280,013 |
Commercial Loans Other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,831 | 3,443 |
Commercial Loans Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,448 | 8,598 |
Commercial Loans Other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Loans Other [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 502,262 | 527,928 |
Commercial Loan [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 470,527 | 502,539 |
Commercial Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 21,259 | 11,048 |
Commercial Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 10,476 | 14,341 |
Commercial Loan [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Loan [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 134,170 | 136,274 |
Home Equity and Home Improvement [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 931 | 600 |
Home Equity and Home Improvement [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 133,239 | 135,674 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 28,098 | 29,175 |
Consumer Finance [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 128 | 82 |
Consumer Finance [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 27,970 | $ 29,093 |
Loans (Details 10)
Loans (Details 10) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Notes Receivable Net Acquired With Deteriorated Credit Quality | $ 3,687 | $ 3,828 |
One To Four Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 1,045 | 1,069 |
Multi-Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 300 | 301 |
Commercial Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 2,024 | 2,121 |
Commercial Loan [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 318 | 337 |
Loan Purchase [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 4,654 | 4,793 |
Notes Receivable Net Acquired With Recorded Investment Net Of Allowance | 3,687 | 3,828 |
Loan Purchase [Member] | One To Four Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 1,124 | 1,154 |
Loan Purchase [Member] | Multi-Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 307 | 309 |
Loan Purchase [Member] | Commercial Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 2,833 | 2,921 |
Loan Purchase [Member] | Commercial Loan [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 389 | 407 |
Loan Purchase [Member] | Consumer [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | $ 1 | $ 2 |
Loans (Details 11)
Loans (Details 11) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Balance at January 1 | $ 804 | $ 0 |
New Loans Purchased | 0 | 1,034 |
Accretion of Income | (15) | 0 |
Reclassifications from Non-accretable | 0 | 0 |
Charge-off of Accretable Yield | 0 | 0 |
Balance at March 31 | $ 789 | $ 1,034 |
Loans (Details 12)
Loans (Details 12) $ in Thousands | Mar. 31, 2018USD ($) |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 7,233 |
One To Four Family Residential Real Estate [Member] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 1,720 |
Commercial Real Estate [Member] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 4,724 |
Commercial Loan [Member] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 785 |
Consumer [Member] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 4 |
Loans (Details 13)
Loans (Details 13) $ in Thousands | Mar. 31, 2018USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Cash Flows Expected to be Collected at Acquisition | $ 5,721 |
Fair Value of Acquired Loans at Acquisition | $ 4,703 |
Loans (Details Textual)
Loans (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | $ 5,000 | $ 19,000 | |
Loans and Leases Receivable, Loans in Process | 111,450,000 | $ 115,972,000 | |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable, Loans in Process | 741,000 | ||
Troubled Debt Restructuring [Member] | |||
Financing Receivable, Modifications, Recorded Investment | 20,400,000 | 21,700,000 | |
Specified Reserves, Provision for Troubled Debt Restructurings | 686,000 | 751,000 | |
Loans and Leases Receivable, Impaired, Commitment to Lend | 769,000 | $ 242,000 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 6,600,000 |
Mortgage Banking (Details)
Mortgage Banking (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Gain from sale of mortgage loans | $ 1,080 | $ 1,083 |
Mortgage loans servicing revenue (expense): | ||
Mortgage loans servicing revenue | 944 | 934 |
Amortization of mortgage servicing rights | (319) | (312) |
Mortgage servicing rights valuation adjustments | 37 | 33 |
Mortgage loans servicing revenue (expense), Total | 662 | 655 |
Net revenue from sale and servicing of mortgage loans | $ 1,742 | $ 1,738 |
Mortgage Banking (Details 1)
Mortgage Banking (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Mortgage servicing assets: | ||
Balance at beginning of period | $ 10,240 | $ 10,117 |
Loans sold, servicing retained | 324 | 356 |
Amortization | (319) | (312) |
Carrying value before valuation allowance at end of period | 10,245 | 10,161 |
Valuation allowance: | ||
Balance at beginning of period | (432) | (522) |
Impairment (expense) recovery | 37 | 33 |
Balance at end of period | (395) | (489) |
Net carrying value of MSRs at end of period | 9,850 | 9,672 |
Fair value of MSRs at end of period | $ 10,280 | $ 10,013 |
Mortgage Banking (Details Textu
Mortgage Banking (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||
Residential Mortgage Loans, Unpaid Balance | $ 1,390,000,000 | $ 1,390,000,000 | |
Accrual For Estimated Secondary Market Buy Back Losses | 0 | $ 28,000 | |
Accrued Liabilities and Other Liabilities | $ 43,000 | $ 43,000 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Deposits [Line Items] | ||
Non-interest-bearing checking accounts | $ 550,742 | $ 571,360 |
Interest-bearing checking and money market accounts | 1,055,416 | 1,005,519 |
Savings deposits | 306,510 | 302,022 |
Retail certificates of deposit less than $250,000 | 512,746 | 504,912 |
Retail certificates of deposit greater than $250,000 | 66,387 | 53,843 |
Total | $ 2,491,801 | $ 2,437,656 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
FHLB Advances: | ||
Single maturity fixed rate advances | $ 64,000 | $ 92,000 |
Putable advances | 0 | 5,000 |
Amortizable mortgage advances | 7,027 | 6,943 |
Fair value adjustment on acquired balances | (26) | 0 |
Total | 71,001 | 103,943 |
Junior subordinated debentures owed to unconsolidated subsidiary trusts | $ 36,083 | $ 36,083 |
Borrowings (Details 1)
Borrowings (Details 1) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | $ 9,321 | $ 26,019 |
Gross amount of recognized liabilities for repurchase agreements | 9,321 | 26,019 |
Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 3,645 | 6,599 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 5,676 | 19,420 |
Maturity Overnight [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 9,321 | 26,019 |
Maturity Overnight [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 3,645 | 6,599 |
Maturity Overnight [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 5,676 | 19,420 |
Up to 30 [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Up to 30 [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Up to 30 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity 30 to 90 Days [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity 30 to 90 Days [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity 30 to 90 Days [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity Greater than 90 Days [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity Greater than 90 Days [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 0 | 0 |
Maturity Greater than 90 Days [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | $ 0 | $ 0 |
Borrowings (Details Textual)
Borrowings (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Preferred Securities and Subordinated Debentures Maturity Date | Jun. 15, 2037 | |
Trust Affiliate I [Member] | ||
Issuance Of Trust Preferred Securities | $ 20 | |
Issuance Of Subordinated Debentures | $ 20.6 | |
Coupon Rate On Preferred Securities, Period End | 3.50% | 2.97% |
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.38%. | |
Trust Affiliate II [Member] | ||
Issuance Of Trust Preferred Securities | $ 15 | |
Issuance Of Subordinated Debentures | $ 15.5 | |
Coupon Rate On Preferred Securities, Period End | 3.62% | 3.09% |
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.5%. |
Commitments, Guarantees and C80
Commitments, Guarantees and Contingent Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fixed Rate, Commitments to make loans | $ 53,556 | $ 42,458 |
Fixed Rate, Unused lines of credit | 9,799 | 6,245 |
Fixed Rate, Standby letters of credit | 0 | 0 |
Fixed Rate, Total | 63,355 | 48,703 |
Variable Rate, Commitments to make loans | 174,401 | 161,778 |
Variable Rate, Unused lines of credit | 468,512 | 408,831 |
Variable Rate, Standby letters of credit | 7,882 | 7,605 |
Variable Rate, Total | $ 650,795 | $ 578,214 |
Commitments, Guarantees and C81
Commitments, Guarantees and Contingent Liabilities (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Line of Credit Facility, Period | 60 days or less | |
Commitments and Loans, Available to Sell | $ 16.8 | $ 14.9 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Line Items] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |
Scenario, Plan [Member] | ||
Income Tax Disclosure [Line Items] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Derivative Financial Instrume83
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Derivatives not designated as hedging instruments | ||
Mortgage Banking Derivatives Assets, Carrying Value | $ 652 | $ 609 |
Mortgage Banking Derivatives Liabilities, Carrying Value | 12 | 11 |
Mortgage Banking Derivatives, Derivatives Net Carrying Value | $ 640 | $ 598 |
Derivative Financial Instrume84
Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Derivatives not designated as hedging instruments | ||
Mortgage Banking Derivatives - Gain (Loss) | $ 42 | $ 65 |
Derivative Financial Instrume85
Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net | $ 25 | $ 14.8 |
Notional Amount of Interest Rate Derivative Instruments Not Designated as Hedging Instruments | $ 16.7 | $ 23.2 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Securities available for sale and transferred securities: Before Tax Amount | |||
Change in net unrealized gain/loss during the period | $ (3,557) | $ 1,580 | |
Reclassification adjustment for net gains included in net income | [1] | 0 | 0 |
Total other comprehensive income (loss) | (3,557) | 1,580 | |
Securities available for sale and transferred securities: Tax Expense (Benefit) | |||
Change in net unrealized gain/loss during the period | 747 | (553) | |
Reclassification adjustment for net gains included in net income | 0 | 0 | |
Total other comprehensive income (loss) | 747 | (553) | |
Securities available for sale and transferred securities: Net of Tax Amount | |||
Change in net unrealized gain/loss during the period | (2,810) | 1,027 | |
Securities Available For Sale, Amounts reclassified from accumulated other comprehensive income | 0 | 0 | |
Other comprehensive income (loss) | $ (2,810) | $ 1,027 | |
[1] | Amounts are included in gains on sale or call of securities on the consolidated condensed statements of income. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the three months ended March 31, 2018 and 2017 was $0 and $0, respectively. |
Other Comprehensive Income (D87
Other Comprehensive Income (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Securities Available For Sale, Beginning balance | $ 601 | $ 504 |
Securities Available For Sale, Other comprehensive income (loss) before reclassifications | (2,810) | 1,027 |
Securities Available For Sale, Amounts reclassified from accumulated other comprehensive income | 0 | 0 |
Securities Available For Sale, Net other comprehensive income (loss) during period | (2,810) | 1,027 |
Securities Available For Sale, Reclassification adjustment upon adoption of ASU 2018-02 | 129 | |
Securities Available For Sale, Ending balance | (2,080) | 1,531 |
Post-retirement Benefit, Beginning balance | (384) | (289) |
Post-retirement Benefit, Other comprehensive income before reclassifications | 0 | 0 |
Post-retirement Benefit, Amounts reclassified from accumulated other comprehensive income | 0 | |
Post-retirement Benefit, Net other comprehensive income during period | 0 | 0 |
Post-retirement Benefit, Reclassification adjustment upon adoption of ASU 2018-02 | (82) | |
Post-retirement Benefit, Ending balance | (466) | (289) |
Accumulated Other Comprehensive Income, Beginning balance | 217 | 215 |
Accumulated Other Comprehensive Income, Other comprehensive income before reclassifications | (2,810) | 1,027 |
Accumulated Other Comprehensive Income, Amounts reclassified from accumulated other comprehensive income | 0 | |
Accumulated Other Comprehensive Income, Net other comprehensive income during period | (2,810) | 1,027 |
Accumulated Other Comprehensive Income, Reclassification adjustment upon adoption of ASU 2018-02 | 47 | |
Accumulated Other Comprehensive Income, Ending balance | $ (2,546) | $ 1,242 |
Affordable Housing Projects T88
Affordable Housing Projects Tax Credit Partnership (Details) - Unfunded Commitments [Member] $ in Thousands | Mar. 31, 2018USD ($) |
Schedule of Equity Method Investments [Line Items] | |
2,018 | $ 2,149 |
2,019 | 1,351 |
2,020 | 392 |
2,021 | 368 |
2,022 | 240 |
Thereafter | 883 |
Total Unfunded Commitments | $ 5,383 |
Affordable Housing Projects T89
Affordable Housing Projects Tax Credit Partnership (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Proportional Amortization Method | ||
Tax credits and other tax benefits recognized | $ 254 | $ 211 |
Amortization expense in federal income taxes | $ 234 | $ 165 |
Affordable Housing Projects T90
Affordable Housing Projects Tax Credit Partnership (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Other Assets [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Amortization Method Qualified Affordable Housing Project Investments | $ 9,000 | $ 9,200 |
Unfunded Commitments [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | 5,383 | |
Unfunded Commitments [Member] | Other Liabilities [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | $ 5,400 | $ 6,200 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) | 1 Months Ended | ||
Feb. 24, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | |
Cash Consideration | $ 12,340,000 | ||
Equity - Dollar Value of Issued Shares | 56,532,000 | ||
Fair Value of Total Consideration Transferred | 68,872,000 | ||
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: | |||
Cash and Cash Equivalents | 35,411,000 | ||
Federal Funds Sold | 2,769,000 | ||
Securities | 4,338,000 | ||
Loans | 285,448,000 | ||
FHLB Stock of Cincinnati and Other Stock | 2,194,000 | ||
Office Properties and Equipment | 5,256,000 | ||
Intangible Assets | 4,900,000 | $ 756,000 | |
Bank-Owned Life Insurance | 8,168,000 | ||
Accrued Interest Receivable and Other Assets | 3,606,000 | ||
Deposits - Non-Interest Bearing | (56,061,000) | ||
Deposits - Interest Bearing | (251,931,000) | ||
Advances from FHLB | (1,403,000) | ||
Accrued Interest Payable and Other Liabilities | (2,717,000) | ||
Total Identifiable Net Assets | 39,978,000 | ||
Goodwill | $ 28,894,000 | $ 98,569,000 | $ 98,569,000 |
Business Combinations (Details
Business Combinations (Details Textual) | Apr. 13, 2017USD ($) | Feb. 24, 2017USD ($) | Mar. 31, 2018USD ($)$ / sharesshares | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) |
Goodwill | $ 28,894,000 | $ 98,569,000 | $ 98,569,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 4,900,000 | 756,000 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||
Payments to Acquire Businesses, Gross | $ 12,340,000 | ||||
Business Combination, Consideration Transferred | 68,872,000 | ||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.1808 | ||||
Compensation and Benefits | $ 13,249,000 | $ 14,335,000 | |||
Customer Relationships [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 564,000 | ||||
Non-Compete Intangible [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 192,000 | ||||
Commercial Bancshares [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 348,400,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 37,500,000 | ||||
Business Combination, Acquisition Related Costs | 3,700,000 | ||||
Stock Issued During Period, Shares, Acquisitions | shares | 1,139,502 | ||||
Payments to Acquire Businesses, Gross | $ 12,300,000 | ||||
Business Combination Consideration Transferred cash Per Shares | $ / shares | $ 51 | ||||
Business Combinations Consideration Transferred In Shares Percentage | 80.00% | ||||
Business Combinations Consideration Transferred In Cash Percentage | 20.00% | ||||
Compensation and Benefits | $ 2,800,000 | ||||
Corporate One Benefits Agency Inc [Member] | |||||
Goodwill | 7,900,000 | ||||
Business Combination, Consideration Transferred | $ 9,300,000 | ||||
Business Combination, Contingent Consideration, Liability | 2,300,000 | ||||
Contingent Consideration Classified as Equity, Fair Value Disclosure | $ 1,800,000 | ||||
Corporate One Benefits Agency Inc [Member] | First Payment [Member] | |||||
Payments to Acquire Businesses, Gross | 6,500,000 | $ 12,300,000 | |||
Corporate One Benefits Agency Inc [Member] | Second Payment [Member] | |||||
Payments to Acquire Businesses, Gross | 500,000 | ||||
Corporate One Benefits Agency Inc [Member] | Third Payment [Member] | |||||
Payments to Acquire Businesses, Gross | $ 2,300,000 |