Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 31, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | 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 | 20,401,888 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | |
Cash and cash equivalents: | |||
Cash and amounts due from depository institutions | $ 55,526 | $ 58,693 | |
Federal funds sold | 44,000 | 55,000 | |
Cash and cash equivalents at beginning of year | 99,526 | 113,693 | |
Securities: | |||
Available-for-sale, carried at fair value | 282,962 | 260,650 | |
Held-to-maturity, carried at amortized cost (fair value $603 and $649 at September 30, 2018 and December 31, 2017, respectively) | 603 | 648 | |
Marketable Securities, Total | 283,565 | 261,298 | |
Loans held for sale | 12,485 | 10,435 | |
Loans receivable, net of allowance of $27,639 at September 30, 2018 and $26,683 at December 31, 2017, respectively | 2,428,718 | 2,322,030 | |
Mortgage servicing rights | 10,054 | 9,808 | |
Accrued interest receivable | 11,258 | 8,706 | |
Federal Home Loan Bank stock | 14,217 | 15,992 | |
Bank owned life insurance | 67,259 | 66,230 | |
Premises and equipment | 40,413 | 40,217 | |
Real estate and other assets held for sale | 1,676 | 1,532 | |
Goodwill | 98,569 | 98,569 | |
Core deposit and other intangibles | 4,705 | 5,703 | |
Deferred taxes | 1,385 | 231 | |
Other assets | 24,255 | 38,959 | |
Total assets | 3,098,085 | 2,993,403 | |
Liabilities: | |||
Deposits | 2,524,431 | 2,437,656 | |
Advances from the Federal Home Loan Bank | 100,220 | 84,279 | |
Subordinated debentures | 36,083 | 36,083 | |
Securities sold under repurchase agreements | 4,162 | 26,019 | |
Advance payments by borrowers | 4,523 | 2,925 | |
Other liabilities | 35,209 | 33,155 | |
Total liabilities | 2,704,628 | 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: 50,000,000 shares authorized; 25,398,992 and 25,425,682 shares issued and 20,401,461 and 20,312,082 shares outstanding at September 30, 2018 and December 31, 2017, respectively | [1] | 127 | 127 |
Additional paid-in capital | 161,179 | 160,940 | |
Accumulated other comprehensive income (loss), net of tax of $(1,308) and $117, respectively | (4,921) | 217 | |
Retained earnings | 286,960 | 262,900 | |
Treasury stock, at cost, 4,997,531 shares at September 30, 2018 and 5,113,600 shares at December 31, 2017 | [1] | (49,888) | (50,898) |
Total stockholders' equity | 393,457 | 373,286 | |
Total liabilities and stockholders' equity | $ 3,098,085 | $ 2,993,403 | |
[1] | Share data has been adjusted to reflect a 2-for-1 stock split on July 12, 2018. |
Consolidated Condensed Statem_2
Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | |
Held-to-maturity, fair value (in dollars) | $ 603 | [1] | $ 649 |
Loans receivable, allowance (in dollars) | $ 27,639 | $ 26,683 | |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Common stock, shares authorized | 50,000,000 | 50,000,000 | |
Common Stock, Shares, Issued | 25,398,992 | 25,425,682 | |
Common stock, shares outstanding | 20,401,461 | 20,312,082 | |
Accumulated other comprehensive income, tax effect (in dollars) | $ (1,308) | $ 117 | |
Treasury stock, shares | 4,997,531 | 5,113,600 | |
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 Statem_3
Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Interest Income | |||||
Loans | $ 29,371 | $ 25,975 | $ 83,557 | $ 73,263 | |
Investment securities: | |||||
Taxable | 1,207 | 896 | 3,445 | 2,817 | |
Non-taxable | 870 | 792 | 2,522 | 2,378 | |
Interest-bearing deposits | 275 | 209 | 945 | 555 | |
FHLB stock dividends | 240 | 209 | 698 | 562 | |
Total interest income | 31,963 | 28,081 | 91,167 | 79,575 | |
Interest Expense | |||||
Deposits | 3,753 | 2,391 | 9,508 | 6,357 | |
FHLB advances and other | 342 | 431 | 943 | 1,211 | |
Subordinated debentures | 334 | 239 | 934 | 682 | |
Notes payable | 5 | 13 | 19 | 41 | |
Total interest expense | 4,434 | 3,074 | 11,404 | 8,291 | |
Net interest income | 27,529 | 25,007 | 79,763 | 71,284 | |
Provision for loan losses | 1,376 | 462 | 704 | 2,635 | |
Net interest income after provision for loan losses | 26,153 | 24,545 | 79,059 | 68,649 | |
Non-interest Income | |||||
Service fees and other charges | 3,335 | 3,153 | 9,762 | 9,073 | |
Insurance commissions | 3,254 | 3,082 | 11,024 | 9,834 | |
Mortgage banking income | 1,877 | 1,698 | 5,632 | 5,266 | |
Gain on sale of non-mortgage loans | 33 | 82 | 300 | 172 | |
Gain on sale or call of securities | 76 | 158 | 76 | 425 | |
Trust income | 514 | 486 | 1,588 | 1,400 | |
Income from Bank Owned Life Insurance | 399 | 421 | 1,365 | 2,666 | |
Other non-interest income | 434 | 415 | 1,092 | 1,348 | |
Total non-interest income | 9,922 | 9,495 | 30,839 | 30,184 | |
Non-interest Expense | |||||
Compensation and benefits | 12,882 | 11,780 | 39,016 | 37,588 | |
Occupancy | 2,154 | 1,960 | 6,251 | 5,751 | |
FDIC insurance premium | 255 | 330 | 817 | 973 | |
Financial institutions tax | 531 | 404 | 1,593 | 1,418 | |
Data processing | 2,161 | 1,874 | 6,349 | 5,832 | |
Amortization of intangibles | 319 | 364 | 998 | 931 | |
Other non-interest expense | 3,984 | 3,728 | 13,178 | 11,718 | |
Total non-interest expense | 22,286 | 20,440 | 68,202 | 64,211 | |
Income before income taxes | 13,789 | 13,600 | 41,696 | 34,622 | |
Federal income taxes | 2,483 | 4,219 | 7,544 | 11,753 | |
Net Income | $ 11,306 | $ 9,381 | $ 34,152 | $ 22,869 | |
Earnings per common share | |||||
Basic | [1] | $ 0.55 | $ 0.46 | $ 1.68 | $ 1.15 |
Diluted | [1] | 0.55 | 0.46 | 1.67 | 1.15 |
Dividends declared per share | [1] | $ 0.17 | $ 0.125 | $ 0.47 | $ 0.375 |
Average common shares outstanding | |||||
Basic | [1],[2] | 20,400 | 20,298 | 20,373 | 19,826 |
Diluted | [1] | 20,467 | 20,418 | 20,465 | 19,940 |
[1] | Share and per share data has been adjusted to reflect a 2-for-1 stock split on July 12, 2018. | ||||
[2] | Share and per share data has been adjusted for a 2-for-1 stock split on July 12, 2018. |
Consolidated Condensed Statem_4
Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Net income | $ 11,306 | $ 9,381 | $ 34,152 | $ 22,869 | |
Other comprehensive income: | |||||
Unrealized gains (losses) on securities available for sale | (2,058) | (777) | (6,487) | 3,383 | |
Reclassification adjustment for security gains included in net income | [1] | (76) | (158) | (76) | (425) |
Income tax benefit (expense) | 448 | 327 | 1,378 | (1,035) | |
Other comprehensive income (loss) | (1,686) | (608) | (5,185) | 1,923 | |
Comprehensive income | $ 9,620 | $ 8,773 | $ 28,967 | $ 24,792 | |
[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 September 30, 2018 and 2017 was $16 and $55, respectively. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the nine months ended September 30, 2018 and 2017 was $16 and $148, respectively. |
Consolidated Condensed Statem_5
Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Condensed Statement of Income Captions [Line Items] | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 16 | $ 55 | $ 16 | $ 148 |
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 | $ 293,018 | $ 0 | $ 127 | $ 126,390 | $ 215 | $ 240,592 | $ (74,306) | |
Balance (in shares) at Dec. 31, 2016 | [1] | 17,966,412 | ||||||
Net income | 22,869 | 22,869 | ||||||
Other comprehensive income (loss) | 1,923 | 1,923 | ||||||
Stock based compensation expenses | 133 | 133 | ||||||
Shares issued under stock option plan | 198 | 51 | (83) | 230 | ||||
Shares issued under stock option plan (in shares) | [1] | 8,086 | ||||||
Capital stock issuance | 56,532 | 33,792 | 22,740 | |||||
Capital stock issuance (in shares) | [1] | 2,279,004 | ||||||
Restricted share activity under stock incentive plans | 517 | 254 | (17) | 280 | ||||
Restricted share activity under stock incentive plans (in shares) | [1] | 42,754 | ||||||
Shares issued from direct stock sales | 54 | 33 | 21 | |||||
Shares issued from direct stock sales (in shares) | [1] | 2,112 | ||||||
Common stock dividends declared | (7,320) | (7,320) | ||||||
Balance at Sep. 30, 2017 | 367,924 | 0 | $ 127 | 160,653 | 2,138 | 256,041 | (51,035) | |
Balance (in shares) at Sep. 30, 2017 | [1] | 20,298,368 | ||||||
Balance at Dec. 31, 2017 | 373,286 | 0 | $ 127 | 160,940 | 217 | 262,900 | (50,898) | |
Balance (in shares) at Dec. 31, 2017 | [1] | 20,312,082 | ||||||
Net income | 34,152 | 34,152 | ||||||
Other comprehensive income (loss) | (5,185) | (5,185) | ||||||
Adoption of ASU 2018-02 – See Note 2 | 0 | 47 | (47) | |||||
Stock based compensation expenses | 295 | 295 | ||||||
Shares issued under stock option plan | 111 | (93) | (270) | 474 | ||||
Shares issued under stock option plan (in shares) | [1] | 38,628 | ||||||
Restricted share activity under stock incentive plans | 297 | (14) | (201) | 512 | ||||
Restricted share activity under stock incentive plans (in shares) | [1] | 48,300 | ||||||
Shares issued from direct stock sales | 75 | 51 | 24 | |||||
Shares issued from direct stock sales (in shares) | [1] | 2,451 | ||||||
Common stock dividends declared | (9,574) | (9,574) | ||||||
Balance at Sep. 30, 2018 | $ 393,457 | $ 0 | $ 127 | $ 161,179 | $ (4,921) | $ 286,960 | $ (49,888) | |
Balance (in shares) at Sep. 30, 2018 | [1] | 20,401,461 | ||||||
[1] | Share data has been adjusted to reflect a 2-for-1 stock split on July 12, 2018. |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Restricted Stock [Member] | ||
Stock Repurchased and Retired (in shares) | 17,818 | |
Employee Stock Option [Member] | ||
Stock Repurchased and Retired (in shares) | 8,872 | 15,014 |
Consolidated Condensed Statem_6
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Operating Activities | ||
Net income | $ 34,152 | $ 22,869 |
Items not requiring (providing) cash: | ||
Provision for loan losses | 704 | 2,635 |
Depreciation | 2,688 | 2,674 |
Amortization of mortgage servicing rights, net of impairment recoveries | 918 | 1,080 |
Amortization of core deposit and other intangible assets | 998 | 931 |
Net accretion of premiums and discounts on loans and deposits | (238) | (602) |
Amortization of premiums and discounts on securities | 905 | 935 |
Change in deferred taxes | 224 | 220 |
Proceeds from the sale of loans held for sale | 161,185 | 157,127 |
Originations of loans held for sale | (160,655) | (157,321) |
Gain from sale of loans | (4,044) | (3,749) |
Gain from sale or call of securities | (76) | (425) |
Loss on sale or disposal of premises and equipment | 13 | 48 |
Gain/loss on sale / write-down of real estate and other assets held for sale | 529 | (57) |
Stock option expense | 295 | 133 |
Restricted stock expense | 297 | 517 |
Income from bank owned life insurance | (1,365) | (2,666) |
Excess tax benefit on stock compensation plans | (162) | (168) |
Changes in: | ||
Accrued interest receivable | (2,552) | (1,782) |
Other assets | (2,985) | (2,743) |
Other liabilities | 2,187 | 2,348 |
Net cash provided by operating activities | 33,018 | 22,004 |
Investing Activities | ||
Proceeds from maturities of held-to-maturity securities | 45 | 48 |
Proceeds from maturities, calls and pay-downs of available-for-sale securities | 19,916 | 20,339 |
Proceeds from sale of premises and equipment, real estate and other assets held for sale | 482 | 1,028 |
Proceeds from the sale of available-for-sale securities | 1,944 | 18,047 |
Proceeds from sale of non-mortgage loans | 28,277 | 19,142 |
Purchases of available-for-sale securities | (51,535) | (41,235) |
Proceeds from Federal Home Loan stock redemption | 1,775 | 0 |
Net cash received in acquisitions | 0 | 19,359 |
Investment in bank owned life insurance | 0 | (20,000) |
Proceeds from bank owned life insurance death benefit | 336 | 0 |
Proceeds from sale of bank owned life insurance | 17,689 | 0 |
Purchase of portfolio mortgage loans | 0 | (11,476) |
Purchases of premises and equipment, net | (2,911) | (2,491) |
Net increase in loans receivable | (136,083) | (59,339) |
Net cash used by investing activities | (120,065) | (56,578) |
Financing Activities | ||
Net increase in deposits and advance payments by borrowers | 88,184 | 70,539 |
Repayment of Federal Home Loan Bank advances | (34,059) | (792) |
Proceeds from Federal Home Loan Bank advances | 50,000 | 0 |
Increase in notes payable | 0 | 6,500 |
Decrease in securities sold under repurchase agreements | (21,857) | (8,877) |
Proceeds from exercise of stock options | 111 | 198 |
Proceeds from direct stock sales | 75 | 54 |
Cash dividends paid on common stock | (9,574) | (7,320) |
Net cash provided by financing activities | 72,880 | 60,302 |
Increase in cash and cash equivalents | (14,167) | 25,728 |
Cash and cash equivalents at beginning of period | 113,693 | 99,003 |
Cash and cash equivalents at end of period | 99,526 | 124,731 |
Supplemental cash flow information: | ||
Interest paid | 11,335 | 8,177 |
Income taxes paid | 6,950 | 10,900 |
Transfers from loans to real estate and other assets held for sale | 1,141 | 328 |
Securities purchased but not yet settled | 577 | 0 |
Sale of bank owned life insurance not yet settled | $ 0 | $ 17,840 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 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 real estate, 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 “2017 Form 10-K”). The accompanying consolidated condensed financial statements as of September 30, 2018, and for the three and nine month periods ended September 30, 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 (“GAAP”). These consolidated condensed financial statements should be read in conjunction with the financial statements and notes thereto included in the 2017 Form 10-K. 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 and nine month period ended September 30, 2018, are not necessarily indicative of the results that may be expected for the entire year. On June 22, 2018, the Company announced a stock split in the form of a share distribution of one common share for each outstanding common share. The stock split was distributed on July 12, 2018 to shareholders of record as of July 2, 2018. All share and per share data in this Quarterly Report on Form 10-Q has been adjusted and is reflective of the stock split. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 2 . Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with GAAP 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 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 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 to 20 years for core deposit and customer relationship intangibles. Accounting Standards Adopted in 2018 In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers.” This 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, this 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 “Revenue Recognition” 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, the Company’s fair value measurement of financial instruments was 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 public law No. 115-97, known as the Tax Cuts and Jobs Act (“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 $47,000, with zero net effect on total shareholders’ equity. 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 September 30, 2018, the Company had contractual operating lease commitments of approximately $11.0 million, before considering renewal options that are generally present. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” This ASU significantly changes how entities will measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. In issuing the standard, the FASB is responding to criticism that today’s guidance delays recognition of credit losses. The standard will replace today’s “incurred loss” approach with an “expected loss” model. The new model, referred to as the current expected credit loss (“CECL”) model, will apply to: (1) financial assets subject to credit losses and measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held-to-maturity securities, loan commitments, and financial guarantees. The CECL model does not apply to available-for-sale (“AFS”) debt securities. For AFS debt securities with unrealized losses, entities will measure credit losses in a manner similar to what they do today, except that the losses will be recognized as allowances rather than reductions in the amortized cost of the securities. As a result, entities will recognize improvements to estimated credit losses immediately in earnings rather than as interest income over time, as they do today. The ASU also simplifies the accounting model for purchased credit-impaired debt securities and loans. ASU 2016-13 also expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the allowance for loan and lease losses. In addition, entities will need to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU No. 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company has begun its implementation efforts by establishing a Company-wide implementation committee along with engaging a third-party software vendor to assist in the implementation process. The committee’s initial review indicates the Company has maintained sufficient historical loan data to support the requirement of this pronouncement and is currently evaluating the various loss methodologies to determine their correlations to the Company’s loan segments historical performance. Early adoption is permitted, however, the Company does not currently plan to adopt this ASU early. Revenue Recognition 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 the Company’s revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as loans, letters of credit, and investment securities, as well as revenue related to mortgage servicing activities, as these activities are subject to other GAAP discussed elsewhere within the Company’s disclosures. Descriptions of the Company’s revenue-generating activities that are within the scope of ASC 606, which are presented in the Company’s statement of income 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 $2.0 million in the third quarter of 2018 and $5.7 million for the nine months ended September 30, 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 third quarter of 2018 and for the nine months ended September 30, 2018, which are reported net of network related charges, were $1.0 million and $3.0 million, respectively. 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, and 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 $188,000 and $515,000, respectively, in the third quarter of 2018 and $618,000 and $1.6 million, respectively, for the nine months ended September 30, 2018. Income from wealth management services is included in other non-interest income in total non-interest income. Trust fees are reported separately in total non-interest income. Gain/loss on sales of other real estate owned (“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 $10,000 in the third quarter of 2018 and $28,000 for the nine months ended September 30, 2018. Income from the gain or loss on sales of OREO is included in other non-interest income in total 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: (i) new/renewal commissions and (ii) contingent commissions. Insurance commissions, new and renewal was $3.3 million in the third quarter of 2018. Insurance commissions were $11.0 million for the nine months ended September 30, 2018, of which, $10.0 million were new/renewal commissions and $1.0 million were contingent commissions. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 3. Fair Value FASB ASC Topic 820, Fair Value Measurements, 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 the methodologies disclosed in Note 22 of the 2017 Form 10-K, except for the valuation of loans which was impacted by the adoption of ASU 2016-01 as discussed in Note 2 above. 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 September 30, 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, ASC 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 : Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 : Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by a correlation or other means. Level 3 : Unobservable inputs for determining fair value of assets and liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. 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 - Securities classified as available for sale are generally reported at fair value utilizing Level 2 inputs where the Company obtains fair value measurements from an independent pricing service that uses matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows and the bonds’ terms and conditions, among other things. Securities in Level 2 include U.S. federal government agencies, mortgage-backed securities, corporate bonds and municipal 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 investor’s 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% to 30% to account for other factors that may impact the value of collateral. In determining the value of impaired collateral dependent loans and other real estate owned, significant unobservable inputs may be used, which include but are not limited to: physical condition of comparable properties sold, net operating income generated by the property and investor rates of return. Mortgage servicing rights - On a quarterly basis, mortgage servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. Fair value is determined at a tranche level based on a model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and are validated against available market data (Level 2). Mortgage banking derivative - The fair value of mortgage banking derivatives are evaluated monthly based on derivative valuation models using quoted prices for similar assets adjusted for specific attributes of the commitments and other observable market data at the valuation date (Level 2). 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 September 30, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (In Thousands) Available for sale securities: Obligations of U.S. federal government corporations and agencies $ - $ 2,470 $ - $ 2,470 Mortgage-backed - residential - 66,463 - 66,463 REMICs - 2,814 - 2,814 Collateralized mortgage obligations-residential - 97,970 - 97,970 Corporate bonds - 13,057 - 13,057 Obligations of state and political subdivisions - 100,188 - 100,188 Mortgage banking derivative - asset - 665 - 665 December 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (In Thousands) Available for sale securities: Obligations of U.S. federal 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 September 30, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (In Thousands) Impaired loans Commercial real estate $ - $ - $ 410 $ 410 Commercial - - 1,713 1,713 Total impaired loans - - 2,123 2,123 Mortgage servicing rights - 567 - 567 Real estate held for sale Commercial real estate - - 739 739 Total real estate held for sale - - 739 739 December 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (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 Real estate held for sale 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 September 30, 2018, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value Valuation Technique Unobservable Inputs Range of Inputs Weighted Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 2,123 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30% 14% Real estate held for sale – Applies to all classes $ 739 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 Value Valuation Technique Unobservable Inputs Range of Inputs Weighted Average (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% Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a fair value of $2.1 million, with a valuation allowance of $10,000 and a fair value of $4.6 million, with a no valuation allowance at September 30, 2018 and December 31, 2017, respectively. A provision expense of $1.1 million and $1.2 million for the three and nine months ended September 30, 2018, and a provision expense of $8,000 and $821,000 for the three months and nine months ended September 30, 2017, respectively, were included in earnings. Mortgage servicing rights are carried at the lower of cost or fair value. Certain mortgage servicing right tranches had a fair value of $567,000 with a valuation allowance of $341,000 and a fair value of $534,000 with a valuation allowance of $432,000 at September 30, 2018 and December 31, 2017, respectively. A recovery of $8,000 and $91,000 for the three and nine months ended September 30, 2018, respectively, and a charge of $27,000 and a recovery of $21,000 for the three and nine months ended September 30, 2017, respectively, was included in earnings. Real estate held for sale is determined using Level 3 inputs which include appraisals and adjusted for estimated costs to sell. The change in fair value of real estate held for sale was $8,000 and $552,000 for the three and nine months ended September 30, 2018, respectively, which was recorded directly as an adjustment to current earnings through non-interest expense. The change in fair value of real estate held for sale was $20,000 for the three and nine months ended September 30, 2017. 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 September 30, 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 of Cincinnati (“FHLB”) stock due to restrictions placed on its transferability. The Company adopted the amendments to ASU 2016-01 relating to the loan portfolio in the first quarter of 2018 and an exit price income approach is now 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 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, checking 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 a 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 September 30, 2018. Fair Value Measurements at September 30, 2018 (In Thousands) Carrying Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 99,526 $ 99,526 $ 99,526 $ - $ - Investment securities 283,565 283,565 - 283,565 - Federal Home Loan Bank Stock 14,217 N/A N/A N/A N/A Loans, net, including loans held for sale 2,441,203 2,395,975 - 12,887 2,383,088 Accrued interest receivable 11,258 11,258 11 1,665 9,582 Financial Liabilities: Deposits $ 2,524,431 $ 2,516,006 $ 556,316 $ 1,959,690 $ - Advances from Federal Home Loan Bank 100,220 99,043 - 99,043 - Securities sold under repurchase agreements 4,162 4,162 - 4,162 - Subordinated debentures 36,083 34,986 - - 34,986 Fair Value Measurements at December 31, 2017 (In Thousands) Carrying Value 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 | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 4. Stock Compensation Plans First Defiance has established equity based compensation plans for its directors and employees. On February 27, 2018, the Board adopted, and the shareholders approved at the 2018 Annual Shareholders Meeting, the First Defiance Financial Corp. 2018 Equity Incentive Plan (the “2018 Equity Plan”). The 2018 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 2018 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 2018 Equity Plan. The 2018 Equity Plan allows for issuance of up to 900,000 common shares through the award of options, stock grants, restricted stock units (“RSU”), stock appreciation rights or other stock-based awards. As of September 30, 2018, 39,400 options to acquire First Defiance shares were outstanding at option prices based on the market value of the underlying shares on the date the options were granted. Options granted vest 20% per year. 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 Equity Incentive Plan (“STIP”) and a Long-Term Equity Incentive Plan (“LTIP”) for selected members of management. Under the 2017 and 2018 STIPs, the participants could earn between 10% to 45% of their salary for potential payout based on the achievement of certain corporate performance targets during the calendar year. 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. The participants are required to be employed on the day of payout in order to receive the payment. Under each LTIP, the participants may earn between 20% to 45% of their salary for potential payout in the form of equity awards based on the achievement of certain corporate performance targets over a three-year period. The Company granted 49,052, 41,314 and 41,676 RSU’s to the participants in the 2016, 2017 and 2018 LTIPs, respectively, effective January 1 in the year the award was made, which represents the maximum target award. 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 the payment. A total of 49,514 RSU’s were issued to the participants of the 2015 LTIP in the first quarter of 2018 for the three year performance period ended December 31, 2017. In the nine months ended September 30, 2018, the Company also granted to employees 23,952 restricted shares, of which 7,348 were RSUs and 16,604 were restricted stock grants. Of the 16,604 restricted shares granted, 4,104 were issued to directors and have a one-year vesting period. The remaining 12,500 were issued to employees and have a three-year vesting period. The fair value of all granted restricted shares was determined by the stock price at the date of the grant. 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 or nine months ended September 30, 2018, or September 30, 2017. Following is stock option activity under the plans during the nine months ended September 30, 2018: Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in 000’s) Options outstanding, January 1, 2018 86,900 $ 10.81 Forfeited or cancelled - - Exercised (47,500 ) 8.15 Granted - - Options outstanding, September 30, 2018 39,400 $ 14.00 5.21 $ 635 Vested or expected to vest at September 30, 2018 39,400 $ 14.00 5.21 $ 635 Exercisable at September 30, 2018 23,900 $ 12.22 4.39 $ 428 Proceeds, related tax benefits realized from options exercised and intrinsic value of options exercised were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Proceeds of options exercised $ - $ - $ 111 $ 198 Related tax benefit recognized - - 28 54 Intrinsic value of options exercised - - 1,034 301 As of September 30, 2018, there was $63,000 of total unrecognized compensation cost related to unvested stock options granted under the Company’s equity plans. The cost is expected to be recognized over a weighted-average period of 1.7 years . At September 30, 2018, 144,586 RSU’s and 34,372 restricted stock grants were unvested. Compensation expense is recognized over the performance period based on the achievements of targets as established under the plan documents. A total expense of $470,000 and $1.4 million was recorded during the three and nine months ended September 30, 2018 compared to an expense of $373,000 and $1.5 million for the three and nine months ended September 30, 2017. There was approximately $622,000 and $774,000 included within other liabilities at September 30, 2018 and December 31, 2017, respectively, related to the STIP. 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 145,076 $ 20.26 21,072 $ 25.28 Granted 49,024 26.97 66,118 19.68 Vested (49,514 ) 16.15 (52,818 ) 16.81 Forfeited - - - - Unvested at September 30, 2018 144,586 $ 23.94 34,372 $ 30.19 The maximum amount of compensation expense that may be recorded for the 2018 STIP and the 2016, 2017 and 2018 LTIPs at September 30, 2018, is approximately $4.3 million. However, the estimated expense expected to be recorded as of September 30, 2018, based on the performance measures in the plans, is $3.5 million of which $1.3 million is unrecognized at September 30, 2018, and will be recognized over the remaining performance periods. |
Dividends on Common Stock
Dividends on Common Stock | 9 Months Ended |
Sep. 30, 2018 | |
Dividends, Common Stock [Abstract] | |
Dividend on Common Stock [Text Block] | 5. Dividends on Common Stock First Defiance declared and paid a $0.15 per common stock dividend in the first and second quarters of 2018 and a $0.17 per common stock dividend in the third quarter of 2018. Dividends declared and paid were $0.125 per common stock dividend in the first, second and third quarters of 2017. |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands, except per share data) Basic Earnings Per Share: Net income available to common shareholders $ 11,306 $ 9,381 $ 34,152 $ 22,869 Less: Income allocated to participating securities 1 1 3 3 Net income allocated to common shareholders 11,305 9,380 34,149 22,866 Weighted average common shares outstanding including participating securities (1) 20,409 20,308 20,382 19,836 Less: Participating securities 9 10 9 10 Average common shares (1) 20,400 20,298 20,373 19,826 Basic earnings per common share $ 0.55 $ 0.46 1.68 1.15 Diluted Earnings Per Share: Net income allocated to common shareholders $ 11,305 $ 9,380 $ 34,149 $ 22,866 Weighted average common shares outstanding for basic earnings per common share (1) 20,400 20,298 20,373 19,826 Add: Dilutive effects of stock options 67 120 92 114 Average shares and dilutive potential common shares (1) 20,467 20,418 20,465 19,940 Diluted earnings per common share $ 0.55 $ 0.46 1.67 1.15 (1) Share and per share data has been adjusted for a 2-for-1 stock split on July 12, 2018. There were no shares excluded from the diluted earnings per share calculation for the three and nine months ended September 30, 2018 and September 30, 2017, as no shares were anti-dilutive during these time periods. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 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 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value At September 30, 2018 (In Thousands) Available-for-Sale Securities: Obligations of U.S. federal government corporations and agencies $ 2,519 $ - $ (49 ) $ 2,470 Mortgage-backed securities – residential 68,863 25 (2,425 ) 66,463 REMICs 2,842 - (28 ) 2,814 Collateralized mortgage obligations 100,874 15 (2,919 ) 97,970 Corporate bonds 12,911 146 - 13,057 Obligations of state and political subdivisions 100,592 1,034 (1,438 ) 100,188 Total Available-for-Sale $ 288,601 $ 1,220 $ (6,859 ) $ 282,962 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 8 $ - $ - $ 8 FNMA certificates 33 - - 33 GNMA certificates 13 - - 13 Obligations of state and political subdivisions 549 - - 549 Total Held-to Maturity $ 603 $ - $ - $ 603 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) At December 31, 2017 Available-for-sale Obligations of U.S. federal 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 September 30, 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. 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 $ 1,410 $ 1,414 $ 31 $ 31 Due after one year through five years 23,134 23,379 - - Due after five years through ten years 38,981 39,586 518 518 Due after ten years 52,497 51,336 - - MBS/CMO/REMIC 172,579 167,247 54 54 $ 288,601 $ 282,962 $ 603 $ 603 Investment securities with a carrying amount of $144.5 million at September 30, 2018, were pledged as collateral on public deposits, securities sold under repurchase agreements and the Federal Reserve discount window. As of September 30, 2018, the Company’s investment portfolio consisted of 438 securities, 223 of which were in an unrealized loss position. The following tables summarize First Defiance’s securities that were in an unrealized loss position at September 30, 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 September 30, 2018 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 1,971 $ (29 ) $ 499 $ (20 ) $ 2,470 $ (49 ) Mortgage-backed securities-residential 36,748 (873 ) 28,676 (1,552 ) 65,424 (2,425 ) REMICs 2,814 (28 ) - - 2,814 (28 ) Collateralized mortgage obligations 66,743 (1,457 ) 29,441 (1,462 ) 96,184 (2,919 ) Obligations of state and political subdivisions 36,875 (815 ) 8,408 (623 ) 45,283 (1,438 ) Total temporarily impaired securities $ 145,151 $ (3,202 ) $ 67,024 $ (3,657 ) $ 212,175 $ (6,859 ) 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 net realized gains of $76,000 ($60,000 after tax) from the sales and calls of investment securities for the three and nine months ended September 30, 2018, while there were net realized gains of $158,000 ($103,000 after tax) in the third quarter of 2017 and $425,000 ($276,000 after tax) for the nine months ended September 30, 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, Investments-Debt and Equity Securities. 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. For the three and nine months ended September 30, 2018 and 2017, management determined there was no OTTI. The proceeds from the sales and calls of securities and the associated gains and losses are listed below: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands) Proceeds $ 1,944 $ 10,226 $ 1,944 $ 18,047 Gross realized gains 76 166 76 433 Gross realized losses - (8 ) - (8 ) |
Loans
Loans | 9 Months Ended |
Sep. 30, 2018 | |
Loans Receivable, Net [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Loans Loans receivable consist of the following: September 30, 2018 December 31, 2017 Real Estate: (In Thousands) Secured by 1-4 family residential $ 313,300 $ 274,862 Secured by multi-family residential 270,554 248,092 Secured by commercial real estate 1,092,533 987,129 Construction 274,344 265,476 1,950,731 1,775,559 Other Loans: Commercial 489,393 526,142 Home equity and improvement 129,295 135,457 Consumer finance 32,379 29,109 651,067 690,708 Total loans 2,601,798 2,466,267 Deduct: Undisbursed loan funds (143,286 ) (115,972 ) Net deferred loan origination fees and costs (2,155 ) (1,582 ) Allowance for loan loss (27,639 ) (26,683 ) Totals $ 2,428,718 $ 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 September 30, 2018 and 2017 by portfolio segment (In Thousands): Quarter Ended September 30, 2018 1-4 Family Residential Real Estate Multi- Family Residential Real Estate Commercial Real Estate Construction Commercial Home Equity and Improvement Consumer Finance Total Beginning Allowance $ 2,682 $ 2,913 $ 11,253 $ 737 $ 7,455 $ 2,032 $ 249 $ 27,321 Charge-Offs (136 ) 0 (1,048 ) 0 (528 ) (36 ) (25 ) (1,773 ) Recoveries 27 38 182 0 413 47 8 715 Provisions 251 61 1,281 (122 ) (179 ) 28 56 1,376 Ending Allowance $ 2,824 $ 3,012 $ 11,668 $ 615 $ 7,161 $ 2,071 $ 288 $ 27,639 Quarter Ended September 30, 2017 1-4 Family Residential Real Estate Multi- Family Residential Real Estate Commercial Real Estate Construction Commercial Home Equity and Improvement Consumer Finance Total Beginning Allowance $ 2,641 $ 2,193 $ 10,136 $ 540 $ 7,973 $ 2,199 $ 233 $ 25,915 Charge-Offs (60 ) 0 0 0 (64 ) (92 ) (20 ) (236 ) Recoveries 11 0 103 0 18 59 9 200 Provisions (54 ) 110 232 38 98 19 19 462 Ending Allowance $ 2,538 $ 2,303 $ 10,471 $ 578 $ 8,025 $ 2,185 $ 241 $ 26,341 The following table discloses allowance for loan loss activity for the year-to-date periods ended September 30, 2018 and September 30, 2017 by portfolio segment (In Thousands): Year-to-date Period Ended September 30, 2018 1-4 Family Residential Real Estate Multi- Family Residential Real Estate Commercial Real Estate Construction Commercial Home Equity and Improvement Consumer Finance Total Beginning Allowance $ 2,532 $ 2,702 $ 10,354 $ 647 $ 7,965 $ 2,255 $ 228 $ 26,683 Charge-Offs (230 ) 0 (1,357 ) 0 (709 ) (194 ) (128 ) (2,618 ) Recoveries 85 40 392 0 2,200 132 21 2,870 Provisions 437 270 2,279 (32 ) (2,295 ) (122 ) 167 704 Ending Allowance $ 2,824 $ 3,012 $ 11,668 $ 615 $ 7,161 $ 2,071 $ 288 $ 27,639 Year-to-date Period Ended September 30, 2017 1-4 Family Residential Real Estate Multi- Family Residential Real Estate Commercial Real Estate Construction Commercial Home Equity and Improvement Consumer Finance Total Beginning Allowance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Charge-Offs (109 ) 0 (400 ) 0 (2,091 ) (246 ) (112 ) (2,958 ) Recoveries 100 32 220 0 227 118 83 780 Provisions (80 ) 43 26 128 2,528 (73 ) 63 2,635 Ending Allowance $ 2,538 $ 2,303 $ 10,471 $ 578 $ 8,025 $ 2,185 $ 241 $ 26,341 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 September 30, 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 $ 190 $ 2 $ 97 $ - $ 117 $ 255 $ 1 $ 662 Collectively evaluated for impairment 2,634 3,010 11,571 615 7,044 1,816 287 26,977 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,824 $ 3,012 $ 11,668 $ 615 $ 7,161 $ 2,071 $ 288 $ 27,639 Loans: Loans individually evaluated for impairment $ 6,972 $ 1,582 $ 26,594 $ - $ 12,950 $ 1,082 $ 31 $ 49,211 Loans collectively evaluated for impairment 305,798 268,989 1,069,197 130,516 478,336 129,100 32,450 2,414,386 Loans acquired with deteriorated credit quality 1,017 297 850 - 177 - - 2,341 Total ending loans balance $ 313,787 $ 270,868 $ 1,096,641 $ 130,516 $ 491,463 $ 130,182 $ 32,481 $ 2,465,938 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 September 30, 2018 Nine Months Ended September 30, 2018 Average Balance Interest Income Recognized Cash Basis Income Recognized Average Balance Interest Income Recognized Cash Basis Income Recognized Residential Owner Occupied $ 4,848 $ 41 $ 41 $ 4,695 $ 113 $ 110 Residential Non Owner Occupied 2,371 31 31 2,424 105 102 Total Residential Real Estate 7,219 72 72 7,119 218 212 Construction - - - - - - Multi-Family 1,582 22 22 1,744 71 70 CRE Owner Occupied 10,058 57 49 10,545 179 156 CRE Non Owner Occupied 2,321 19 18 2,815 76 75 Agriculture Land 14,115 150 96 13,370 400 248 Other CRE 1,223 25 25 1,346 75 67 Total Commercial Real Estate 27,717 251 188 28,076 730 546 Commercial Working Capital 10,181 91 84 8,059 196 180 Commercial Other 3,282 34 31 3,809 88 83 Total Commercial 13,463 125 115 11,868 284 263 Home Equity and Improvement 1,091 9 9 1,195 29 29 Consumer Finance 33 1 1 35 3 3 Total Impaired Loans $ 51,105 $ 480 $ 407 $ 50,037 $ 1,334 $ 1,123 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 September 30, 2017 Nine Months Ended September 30, 2017 Average Balance Interest Income Recognized Cash Basis Income Recognized Average Balance Interest Income Recognized Cash Basis Income Recognized Residential Owner Occupied $ 4,188 $ 37 $ 37 $ 3,699 $ 99 $ 99 Residential Non Owner Occupied 2,706 33 33 3,136 104 104 Total Residential Real Estate 6,894 70 70 6,835 203 203 Construction - - - - - - Multi-Family 2,084 9 9 2,534 28 28 CRE Owner Occupied 12,127 24 22 9,613 70 70 CRE Non Owner Occupied 3,484 32 31 3,845 105 98 Agriculture Land 13,547 148 44 8,719 335 126 Other CRE 1,590 27 22 1,637 50 42 Total Commercial Real Estate 30,748 231 119 23,814 560 336 Commercial Working Capital 7,033 38 38 5,115 86 90 Commercial Other 5,926 31 27 5,126 82 60 Total Commercial 12,959 69 65 10,241 168 150 Home Equity and Improvement 1,206 11 10 1,228 32 31 Consumer Finance 54 1 1 62 3 4 Total Impaired Loans $ 53,945 $ 391 $ 274 $ 44,714 $ 994 $ 752 The following table presents loans individually evaluated for impairment by class of loans (In Thousands): September 30, 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 $ 751 $ 625 $ - $ 2,507 $ 2,364 $ - Residential Non Owner Occupied 999 1,004 - 1,711 1,708 - Total 1-4 Family Residential Real Estate 1,750 1,629 - 4,218 4,072 - Multi-Family Residential Real Estate 1,530 1,537 - 2,095 2,102 - CRE Owner Occupied 7,086 5,835 - 12,273 11,804 - CRE Non Owner Occupied 1,913 1,748 - 3,085 2,925 - Agriculture Land 13,675 13,883 - 13,029 13,185 - Other CRE 471 479 - 981 768 - Total Commercial Real Estate 23,145 21,945 - 29,368 28,682 - Construction - - - - - - Commercial Working Capital 9,657 9,420 - 5,462 5,422 - Commercial Other 2,736 2,548 - 9,916 7,644 - Total Commercial 12,393 11,968 - 15,378 13,066 - Home Equity and Home Improvement - - - 630 584 - Consumer Finance - - - 42 42 - Total loans with no allowance recorded $ 38,818 $ 37,079 $ - $ 51,731 $ 48,548 $ - With an allowance recorded: Residential Owner Occupied $ 4,169 $ 4,129 $ 165 $ 1,841 $ 1,814 $ 137 Residential Non Owner Occupied 1,210 1,214 25 1,031 1,024 30 Total 1-4 Family Residential Real Estate 5,379 5,343 190 2,872 2,838 167 Multi-Family Residential Real Estate 44 45 2 175 176 7 CRE Owner Occupied 3,656 3,172 40 2,007 1,546 44 CRE Non Owner Occupied 624 485 20 651 593 28 Agriculture Land 281 279 5 293 292 14 Other CRE 1,130 713 32 909 708 32 Total Commercial Real Estate 5,691 4,649 97 3,860 3,139 118 Construction - - - - - - Commercial Working Capital 526 528 62 447 449 77 Commercial Other 456 454 55 854 858 110 Total Commercial 982 982 117 1,301 1,307 187 Home Equity and Home Improvement 1,159 1,082 255 596 592 279 Consumer Finance 31 31 1 8 8 - Total loans with an allowance recorded $ 13,286 $ 12,132 $ 662 $ 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: September 30, 2018 December 31, 2017 (In Thousands) Non-accrual loans $ 20,929 $ 30,715 Loans over 90 days past due and still accruing - - Total non-performing loans 20,929 30,715 Real estate and other assets held for sale 1,676 1,532 Total non-performing assets $ 22,605 $ 32,247 Troubled debt restructuring, still accruing $ 12,611 $ 13,770 The following table presents the aging of the recorded investment in past due and non- accrual loans as of September 30, 2018, by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Past Due Total Non- Accrual Residential Owner Occupied $ 192,769 $ 372 $ 1,427 $ 1,756 $ 3,555 $ 3,167 Residential Non Owner Occupied 117,104 163 22 174 359 333 Total 1-4 Family Residential Real Estate 309,873 535 1,449 1,930 3,914 3,500 Multi-Family Residential Real Estate 270,868 - - - - 118 CRE Owner Occupied 413,049 321 2 158 481 5,172 CRE Non Owner Occupied 503,533 - - 140 140 790 Agriculture Land 127,076 39 - 2,988 3,027 5,319 Other Commercial Real Estate 49,335 - - - - 290 Total Commercial Real Estate 1,092,993 360 2 3,286 3,648 11,571 Construction 130,516 - - - - - Commercial Working Capital 213,113 17 - 2,870 2,887 4,359 Commercial Other 274,999 31 - 433 464 772 Total Commercial 488,112 48 - 3,303 3,351 5,131 Home Equity/Home Improvement 128,489 1,348 138 207 1,693 562 Consumer Finance 32,228 186 44 23 253 34 Total Loans $ 2,453,079 $ 2,477 $ 1,633 $ 8,749 $ 12,859 $ 20,916 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 Past Due Total Non- Accrual 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 September 30, 2018, and December 31, 2017, the Company had a recorded investment in troubled debt restructurings (“TDRs”) of $20.3 million and $21.7 million, respectively. The Company allocated $658,000 and $751,000 of specific reserves to those loans at September 30, 2018, and December 31, 2017, respectively, and had committed to lend additional amounts totaling up to $278,000 and $242,000 at September 30, 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 September 30, 2018, $7.7 million were on non-accrual status and partial charge-offs have in some cases been taken against the outstanding balance. Loans modified as a TDR may have the financial effect of increasing the allowance associated with the loan. If the loan is determined to be collateral dependent, the estimated fair value of the collateral, less any selling costs is used to determine if there is a need for a specific allowance or charge-off. If the loan is determined to be cash flow dependent, the allowance is measured based on the present value of expected future cash flows discounted at the loan’s pre-modification effective interest rate. The following tables present loans by class modified as TDRs that occurred during the three and nine month periods ending September 30, 2018, and September 30, 2017: Loans Modified as a TDR for the Three Months Ended September 30, 2018 ($ in thousands) Loans Modified as a TDR for the Nine Months Ended September 30, 2018 ($ 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 2 $ 149 14 $ 770 1-4 Family Non Owner Occupied 1 29 3 170 Multi Family 0 - 0 - CRE Owner Occupied 4 335 11 1,849 CRE Non Owner Occupied 0 - 1 44 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital 0 - 5 2,823 Commercial Other 1 66 1 66 Home Equity and Improvement 5 123 7 123 Consumer Finance 4 10 4 10 Total 17 $ 712 46 $ 5,855 The loans described above decreased the allowance for loan and lease losses (“ALLL”) by $39,000 in the three month period ending September 30, 2018 and decreased the ALLL by $60,000 in the nine month period ending September 30, 2018. Loans Modified as a TDR for the Three Months Ended September 30, 2017 ($ in thousands) Loans Modified as a TDR for the Nine Months Ended September 30, 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 10 $ 420 18 $ 923 1-4 Family Non Owner Occupied 0 - 3 104 Multi Family 0 - 0 - CRE Owner Occupied 0 - 1 116 CRE Non Owner Occupied 0 - 0 - Agriculture Land 3 280 5 1,731 Other CRE 0 - 2 165 Commercial Working Capital 2 345 7 2,396 Commercial Other 1 47 5 3,511 Home Equity and Improvement 2 72 4 150 Consumer Finance 1 7 3 10 Total 19 $ 1,171 48 $ 9,106 The loans described above decreased the ALLL by $5,000 in the three month period ending September 30, 2017 and decreased the ALLL by $29,000 in the nine month period ending September 30, 2017. Of the 2018 modifications, four were made a TDR due to terming out lines of credit, 18 were made TDR due to advancing or renewing money to a watch list credit, one loan made a TDR due to a reduction of the interest rate, 13 were made a TDR due to bankruptcy and 10 were made a TDR because the current debt was refinanced due to maturity or for payment relief. The following tables present loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the three and nine month periods ended September 30, 2018, and September 30, 2017: Three Months Ended September 30, 2018 ($ in thousands) Nine Months Ended September 30, 2018 ($ 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 3 $ 2,644 3 2,644 Commercial Other 1 30 2 226 Home Equity and Improvement 1 61 1 61 Consumer Finance 0 - 0 - Total 5 $ 2,735 6 $ 2,931 The TDRs that subsequently defaulted described above had no effect on the ALLL for the three and nine month period ended September 30, 2018. Three Months Ended September 30, 2017 ($ in thousands) Nine Months Ended September 30, 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 - 1 225 Commercial Other 0 - 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 0 $ - 1 $ 225 The TDRs that subsequently defaulted described above had no effect on the ALLL for the three and nine month periods ended September 30, 2017. 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. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Not Graded. Loans classified as not graded are generally smaller balance residential real estate, home equity and consumer installment loans which are originated primarily by using an automated underwriting system. These loans are monitored based on their delinquency status and are evaluated individually only if they are seriously delinquent. 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 September 30, 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 $ 9,157 $ 92 $ 3,469 $ - $ 183,606 $ 196,324 1-4 Family Non Owner Occupied 106,173 971 3,167 - 7,152 117,463 Total 1-4 Family Real Estate 115,330 1,063 6,636 - 190,758 313,787 Multi-Family Residential Real Estate 268,568 - 2,192 - 108 270,868 CRE Owner Occupied 397,700 6,030 9,707 - 94 413,531 CRE Non Owner Occupied 495,282 5,840 2,551 - - 503,673 Agriculture Land 110,548 4,193 15,361 - - 130,102 Other CRE 46,819 151 1,293 - 1,072 49,335 Total Commercial Real Estate 1,050,349 16,214 28,912 - 1,166 1,096,641 Construction 111,374 467 - - 18,675 130,516 Commercial Working Capital 198,315 7,454 10,230 - - 215,999 Commercial Other 263,539 8,309 3,616 - - 275,464 Total Commercial 461,854 15,763 13,846 - - 491,463 Home Equity and Home Improvement - - 605 - 129,577 130,182 Consumer Finance - - 155 - 32,326 32,481 Total Loans $ 2,007,475 $ 33,507 $ 52,346 $ - $ 372,610 $ 2,465,938 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): September 30, 2018 December 31, 2017 1-4 Family Residential Real Estate $ 1,053 $ 1,154 Multi-Family Residential Real Estate 303 309 Commercial Real Estate Loans 910 2,921 Commercial 227 407 Consumer - 2 Total Outstanding Balance $ 2,493 $ 4,793 Recorded Investment, net of allowance of $0 $ 2,341 $ 3,828 Accretable yield, or income expected to be collected, is as follows: 2018 2017 Balance at January 1 $ 804 $ - New Loans Purchased - 1,018 Accretion of Income (115 ) (163 ) Reclassification from Non-accretable - - Charge-off of Accretable Yield (197 ) (8 ) Balance at September 30 $ 492 $ 847 For those purchased loans disclosed above, the Company did not increase the allowance for loan losses during the three or nine months ended September 30, 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 September 30, 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 September 30, 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 $642,000 as of September 30, 2018 and $626,000 as of December 31, 2017. |
Mortgage Banking
Mortgage Banking | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands) Gain from sale of mortgage loans $ 1,280 $ 1,200 $ 3,744 $ 3,577 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 929 911 2,806 2,769 Amortization of mortgage servicing rights (340 ) (386 ) (1,009 ) (1,101 ) Mortgage servicing rights valuation adjustments 8 (27 ) 91 21 597 498 1,888 1,689 Net revenue from sale and servicing of mortgage loans $ 1,877 $ 1,698 $ 5,632 $ 5,266 The unpaid principal balance of residential mortgage loans serviced for third parties was $1.41 billion at September 30, 2018 and $1.39 billion at December 31, 2017. Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three and nine months ended September 30, 2018 and 2017: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 10,297 $ 10,154 $ 10,240 $ 10,117 Loans sold, servicing retained 438 426 1,164 1,178 Amortization (340 ) (386 ) (1,009 ) (1,101 ) Carrying value before valuation allowance at end of period 10,395 10,194 10,395 10,194 Valuation allowance: Balance at beginning of period (349 ) (474 ) (432 ) (522 ) Impairment recovery (charges) 8 (27 ) 91 21 Balance at end of period (341 ) (501 ) (341 ) (501 ) Net carrying value of MSRs at end of period $ 10,054 $ 9,693 $ 10,054 $ 9,693 Fair value of MSRs at end of period $ 10,558 $ 9,750 $ 10,558 $ 9,750 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 was accrued at both September 30, 2018, and December 31, 2017, respectively. There was no expense or credit recognized related to the accrual in the three and nine months ended September 30, 2018, while a credit of $34,000 and $131,000 was recognized in the three and nine months ended September 30, 2017. |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2018 | |
Deposits [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 10. Deposits A summary of deposit balances is as follows: September 30, 2018 December 31, 2017 (In Thousands) Non-interest-bearing checking accounts $ 556,316 $ 571,360 Interest-bearing checking and money market accounts 1,016,294 1,005,519 Savings deposits 293,359 302,022 Retail certificates of deposit less than $250,000 564,379 504,912 Retail certificates of deposit greater than $250,000 94,083 53,843 $ 2,524,431 $ 2,437,656 |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2018 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | 11. Borrowings First Defiance’s debt, FHLB advances and junior subordinated debentures owed to unconsolidated subsidiary trusts are comprised of the following: September 30, 2018 December 31, 2017 (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 59,000 $ 72,000 Putable advances - 5,000 Amortizable mortgage advances 1,243 7,306 Overnight advances 40,000 - Fair value adjustment on acquired balances (23 ) (27 ) Total $ 100,220 $ 84,279 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 million of Guaranteed Capital Trust Securities (Trust Preferred Securities). In connection with this transaction, the Company issued $15.5 million of Junior Subordinated Deferrable Interest Debentures (Subordinated Debentures) to Trust Affiliate II. The Company formed Trust Affiliate II for the purpose of issuing Trust Preferred Securities to third-party investors and investing the proceeds from the sale of these capital securities solely in Subordinated Debentures of the Company. The Subordinated Debentures held by Trust Affiliate II are the sole assets of that trust. The Company is not considered the primary beneficiary of this Trust (variable interest entity), therefore the trust is not consolidated in the Company’s financial statements, but rather the subordinated debentures are shown as a liability. Distributions on the Trust Preferred Securities issued by Trust Affiliate II are payable quarterly at a variable rate equal to the three-month LIBOR rate plus 1.5%. The Coupon rate payable on the Trust Preferred Securities issued by Trust Affiliate II was 3.83% as of September 30, 2018, and 3.09% as of December 31, 2017. 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, but can be redeemed at the Company’s option at any time now. The Company also sponsored an affiliated trust, First Defiance Statutory Trust I (Trust Affiliate I), that issued $20 million of Trust Preferred Securities in 2005. In connection with this transaction, the Company issued $20.6 million of Subordinated Debentures to Trust Affiliate I. Trust Affiliate I was formed for the purpose of issuing Trust Preferred Securities to third-party investors and investing the proceeds from the sale of these capital securities solely in Subordinated Debentures of the Company. The Junior Debentures held by Trust Affiliate I are the sole assets of the trust. The Company is not considered the primary beneficiary of this Trust (variable interest entity), therefore the trust is not consolidated in the Company’s financial statements, but rather the subordinated debentures are shown as a liability. Distributions on the Trust Preferred Securities issued by Trust Affiliate I are payable quarterly at a variable rate equal to the three-month LIBOR rate plus 1.38%. The Coupon rate payable on the Trust Preferred Securities issued by Trust Affiliate I was 3.71% and 2.97% on September 30, 2018 and December 31, 2017, respectively. 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 . We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. We monitor levels on a continuous basis. We may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agent. The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2018 and December 31, 2017, is presented in the following tables. Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total At September 30, 2018 (In Thousands) Repurchase agreements: Mortgage-backed securities – residential $ 3,875 $ - $ - $ - $ 3,875 Collateralized mortgage obligations 287 - - - 287 Total borrowings $ 4,162 $ - $ - $ - $ 4,162 Gross amount of recognized liabilities for repurchase agreements $ 4,162 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total At December 31, 2017 (In Thousands) 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 | 9 Months Ended |
Sep. 30, 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): September 30, 2018 December 31, 2017 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 43,359 $ 171,337 $ 42,458 $ 161,778 Unused lines of credit 9,729 381,265 6,245 408,831 Standby letters of credit - 7,256 - 7,605 Total $ 53,088 $ 559,858 $ 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 $20.0 million and $14.9 million of loans to Freddie Mac, Fannie Mae, FHLB or BB&T Mortgage at September 30, 2018, and December 31, 2017, respectively. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 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. The Tax Act reduced the U.S. federal corporate tax rate from 35% to 21% effective January 1, 2018. |
Derivative Financial Instrument
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 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 $19.2 million and $14.8 million of interest rate lock commitments at September 30, 2018, and December 31, 2017, respectively. There were $26.8 million and $23.2 million of forward commitments for the future delivery of residential mortgage loans at September 30, 2018, and December 31, 2017, respectively. The fair value of these mortgage banking derivatives are reflected by a derivative asset recorded in other assets in the Consolidated Statements of Financial Condition. The table below provides data about the carrying values of these derivative instruments: September 30, 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 $ 665 $ - $ 665 $ 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives – Gain (Loss) $ (111 ) $ 47 $ 67 $ 330 The above amounts are included in mortgage banking income with gain on sale of mortgage loans. |
Other Comprehensive Income
Other Comprehensive Income | 9 Months Ended |
Sep. 30, 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. 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 Amount Tax (Expense) Benefit Net of Tax Amount Three months ended September 30, 2018: (In Thousands) Securities available for sale: Change in net unrealized gain/loss during the period $ (2,058 ) $ 432 $ (1,626 ) Reclassification adjustment for net gains included in net income (76 ) 16 (60 ) Total other comprehensive loss $ (2,134 ) $ 448 $ (1,686 ) Nine months ended September 30, 2018: Securities available for sale: Change in net unrealized gain/loss during the period $ (6,487 ) $ 1,362 $ (5,125 ) Reclassification adjustment for net gains included in net income (76 ) 16 (60 ) Total other comprehensive loss $ (6,563 ) $ 1,378 $ (5,185 ) Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Three months ended September 30, 2017: (In Thousands) Securities available for sale: Change in net unrealized gain/loss during the period $ (777 ) $ 272 $ (505 ) Reclassification adjustment for net gains included in net income (158 ) 55 (103 ) Total other comprehensive loss $ (935 ) $ 327 $ (608 ) Nine months ended September 30, 2017: Securities available for sale: Change in net unrealized gain/loss during the period $ 3,383 $ (1,183 ) $ 2,200 Reclassification adjustment for net gains included in net income (425 ) 148 (277 ) Total other comprehensive income $ 2,958 $ (1,035 ) $ 1,923 Activity in accumulated other comprehensive income (loss), net of tax, was as follows: Accumulated Securities Post- Other Available retirement Comprehensive For Sale Benefit Income (Loss) (In Thousands) Balance January 1, 2018 $ 601 $ (384 ) $ 217 Other comprehensive income before reclassifications (5,125 ) - (5,125 ) Amounts reclassified from accumulated other comprehensive income (60 ) - (60 ) Net other comprehensive income during period (5,185 ) - (5,185 ) Reclassification adjustment upon adoption of ASU 2018-02 129 (82 ) 47 Balance September 30, 2018 $ (4,455 ) $ (466 ) $ (4,921 ) Balance January 1, 2017 $ 504 $ (289 ) $ 215 Other comprehensive income before reclassifications 2,200 - 2,200 Amounts reclassified from accumulated other comprehensive income (277 ) - (277 ) Net other comprehensive income during period 1,923 - 1,923 Balance September 30, 2017 $ 2,427 $ (289 ) $ 2,138 |
Affordable Housing Projects Tax
Affordable Housing Projects Tax Credit Partnership | 9 Months Ended |
Sep. 30, 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.” The pronouncement permitted reporting entities to make an accounting policy election to account for these investments using the proportional amortization method if certain conditions exist. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received, and will recognize the net investment performance in the statement of income as a component of income tax expense (benefit). The Company utilized the proportional amortization method for all of its instruments. As of September 30, 2018, and December 31, 2017, the Company had $11.5 million and $9.2 million in qualified investments recorded in other assets and $7.2 million and $6.2 million in unfunded commitments recorded in other liabilities, respectively. Unfunded Commitments As of September 30, 2018, the expected payments for unfunded affordable housing commitments were as follows: (dollars in thousands) Amount 2018 $ 1,205 2019 1,917 2020 1,954 2021 467 2022 338 Thereafter 1,297 Total Unfunded Commitments $ 7,178 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 September 30, 2018 and 2017. Three Months Ended September 30, (dollars in thousands) 2018 2017 Proportional Amortization Method Tax credits and other tax benefits recognized $ 276 $ 218 Amortization expense in federal income taxes 234 173 Nine Months Ended September 30, (dollars in thousands) 2018 2017 Proportional Amortization Method Tax credits and other tax benefits recognized $ 785 $ 640 Amortization expense in federal income taxes 703 502 There were no impairment losses of LIHTC investments for the three and nine months ended September 30, 2018 and 2017. |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 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 million and $37.5 million, respectively. The Company accounted for the transaction under the acquisition method of accounting which means that the acquired assets and liabilities were recorded at fair value at the date of acquisition. The fair value included in these financial statements is based on final valuations. In accordance with ASC Topic 805, Business Combinations, the Company expensed approximately $3.7 million of direct acquisition costs, of which $2.8 million was to settle employment and benefit agreements and for personnel expenses related to operating the new Commercial Bancshares locations. The Company recorded $28.9 million of goodwill and $4.9 million of intangible assets. Goodwill represents the future economic benefits arising from net assets acquired that are not individually identified and separately recognized and is primarily attributable to synergies expected to be derived from the combination of the two entities. The acquisition was consistent with the Company’s strategy to enhance and expand its presence in northwestern and north central Ohio. The acquisition offers the Company the opportunity to increase profitability by introducing existing products and services to the acquired customer base as well as add new customers in the expanded market area. The intangible assets are related to core deposits and are being amortized over 10 years on an accelerated basis. For tax purposes, goodwill totaling $28.9 million is non-deductible. Goodwill is evaluated annually for impairment. 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 Under the terms of the merger agreement, Commercial Bancshares common shareholders had the opportunity to elect to receive 2.3616 shares of common stock of the Company or cash in the amount of $51.00 for each share of Commercial Bancshares common stock, subject to adjustment as provided for in the merger agreement. Total consideration for Commercial Bancshares common shares outstanding was paid 80% in Company stock and 20% in cash. The Company issued 2,279,004 shares of its common stock and paid $12.3 million in cash to the former shareholders of Commercial Bancshares. 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 million was paid at closing, $500,000 was due and paid the second quarter of 2018, and up to $2.3 million may be due at the end of a three-year earn-out based on the compound annual growth rate of net revenue over the performance period of Corporate One, for a total purchase price of $9.3 million. The recorded fair value of the $2.3 million earn-out was $1.8 million at December 31, 2017. As of December 31, 2017, total Company recorded goodwill of $7.9 million as well as identifiable intangible assets of $756,000 consisting of a customer relationship intangible of $564,000 and a non-compete intangible of $192,000. The fair value included in these financial statements is based on final valuation. Corporate One was a full-service employee benefits consulting organization founded in 1996 with offices located in Archbold, Findlay, Fostoria and Tiffin, Ohio. Corporate One consulted employers to better manage their employee benefit programs to effectively lead them into the future. It is anticipated that the transaction will enhance employee benefit offerings and expand First Insurance’s presence into adjacent markets in northwest Ohio. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP 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 to 20 years for core deposit and customer relationship intangibles. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Adopted in 2018 In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers.” This 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, this 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 “Revenue Recognition” 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, the Company’s fair value measurement of financial instruments was 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 public law No. 115-97, known as the Tax Cuts and Jobs Act (“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 $47,000, with zero net effect on total shareholders’ equity. |
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 September 30, 2018, the Company had contractual operating lease commitments of approximately $11.0 million, before considering renewal options that are generally present. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” This ASU significantly changes how entities will measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. In issuing the standard, the FASB is responding to criticism that today’s guidance delays recognition of credit losses. The standard will replace today’s “incurred loss” approach with an “expected loss” model. The new model, referred to as the current expected credit loss (“CECL”) model, will apply to: (1) financial assets subject to credit losses and measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held-to-maturity securities, loan commitments, and financial guarantees. The CECL model does not apply to available-for-sale (“AFS”) debt securities. For AFS debt securities with unrealized losses, entities will measure credit losses in a manner similar to what they do today, except that the losses will be recognized as allowances rather than reductions in the amortized cost of the securities. As a result, entities will recognize improvements to estimated credit losses immediately in earnings rather than as interest income over time, as they do today. The ASU also simplifies the accounting model for purchased credit-impaired debt securities and loans. ASU 2016-13 also expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the allowance for loan and lease losses. In addition, entities will need to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU No. 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company has begun its implementation efforts by establishing a Company-wide implementation committee along with engaging a third-party software vendor to assist in the implementation process. The committee’s initial review indicates the Company has maintained sufficient historical loan data to support the requirement of this pronouncement and is currently evaluating the various loss methodologies to determine their correlations to the Company’s loan segments historical performance. Early adoption is permitted, however, the Company does not currently plan to adopt this ASU early. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition 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 the Company’s revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as loans, letters of credit, and investment securities, as well as revenue related to mortgage servicing activities, as these activities are subject to other GAAP discussed elsewhere within the Company’s disclosures. Descriptions of the Company’s revenue-generating activities that are within the scope of ASC 606, which are presented in the Company’s statement of income 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 $2.0 million in the third quarter of 2018 and $5.7 million for the nine months ended September 30, 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 third quarter of 2018 and for the nine months ended September 30, 2018, which are reported net of network related charges, were $1.0 million and $3.0 million, respectively. 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, and 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 $188,000 and $515,000, respectively, in the third quarter of 2018 and $618,000 and $1.6 million, respectively, for the nine months ended September 30, 2018. Income from wealth management services is included in other non-interest income in total non-interest income. Trust fees are reported separately in total non-interest income. Gain/loss on sales of other real estate owned (“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 $10,000 in the third quarter of 2018 and $28,000 for the nine months ended September 30, 2018. Income from the gain or loss on sales of OREO is included in other non-interest income in total 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: (i) new/renewal commissions and (ii) contingent commissions. Insurance commissions, new and renewal was $3.3 million in the third quarter of 2018. Insurance commissions were $11.0 million for the nine months ended September 30, 2018, of which, $10.0 million were new/renewal commissions and $1.0 million were contingent commissions. |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (In Thousands) Available for sale securities: Obligations of U.S. federal government corporations and agencies $ - $ 2,470 $ - $ 2,470 Mortgage-backed - residential - 66,463 - 66,463 REMICs - 2,814 - 2,814 Collateralized mortgage obligations-residential - 97,970 - 97,970 Corporate bonds - 13,057 - 13,057 Obligations of state and political subdivisions - 100,188 - 100,188 Mortgage banking derivative - asset - 665 - 665 December 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (In Thousands) Available for sale securities: Obligations of U.S. federal 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 September 30, 2018 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (In Thousands) Impaired loans Commercial real estate $ - $ - $ 410 $ 410 Commercial - - 1,713 1,713 Total impaired loans - - 2,123 2,123 Mortgage servicing rights - 567 - 567 Real estate held for sale Commercial real estate - - 739 739 Total real estate held for sale - - 739 739 December 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (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 Real estate held for sale 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 September 30, 2018, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value Valuation Technique Unobservable Inputs Range of Inputs Weighted Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 2,123 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30% 14% Real estate held for sale – Applies to all classes $ 739 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 Value Valuation Technique Unobservable Inputs Range of Inputs Weighted Average (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 a 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 September 30, 2018. Fair Value Measurements at September 30, 2018 (In Thousands) Carrying Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 99,526 $ 99,526 $ 99,526 $ - $ - Investment securities 283,565 283,565 - 283,565 - Federal Home Loan Bank Stock 14,217 N/A N/A N/A N/A Loans, net, including loans held for sale 2,441,203 2,395,975 - 12,887 2,383,088 Accrued interest receivable 11,258 11,258 11 1,665 9,582 Financial Liabilities: Deposits $ 2,524,431 $ 2,516,006 $ 556,316 $ 1,959,690 $ - Advances from Federal Home Loan Bank 100,220 99,043 - 99,043 - Securities sold under repurchase agreements 4,162 4,162 - 4,162 - Subordinated debentures 36,083 34,986 - - 34,986 Fair Value Measurements at December 31, 2017 (In Thousands) Carrying Value 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) | 9 Months Ended |
Sep. 30, 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 nine months ended September 30, 2018: Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in 000’s) Options outstanding, January 1, 2018 86,900 $ 10.81 Forfeited or cancelled - - Exercised (47,500 ) 8.15 Granted - - Options outstanding, September 30, 2018 39,400 $ 14.00 5.21 $ 635 Vested or expected to vest at September 30, 2018 39,400 $ 14.00 5.21 $ 635 Exercisable at September 30, 2018 23,900 $ 12.22 4.39 $ 428 |
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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Proceeds of options exercised $ - $ - $ 111 $ 198 Related tax benefit recognized - - 28 54 Intrinsic value of options exercised - - 1,034 301 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | There was approximately $622,000 and $774,000 included within other liabilities at September 30, 2018 and December 31, 2017, respectively, related to the STIP. 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 145,076 $ 20.26 21,072 $ 25.28 Granted 49,024 26.97 66,118 19.68 Vested (49,514 ) 16.15 (52,818 ) 16.81 Forfeited - - - - Unvested at September 30, 2018 144,586 $ 23.94 34,372 $ 30.19 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands, except per share data) Basic Earnings Per Share: Net income available to common shareholders $ 11,306 $ 9,381 $ 34,152 $ 22,869 Less: Income allocated to participating securities 1 1 3 3 Net income allocated to common shareholders 11,305 9,380 34,149 22,866 Weighted average common shares outstanding including participating securities (1) 20,409 20,308 20,382 19,836 Less: Participating securities 9 10 9 10 Average common shares (1) 20,400 20,298 20,373 19,826 Basic earnings per common share $ 0.55 $ 0.46 1.68 1.15 Diluted Earnings Per Share: Net income allocated to common shareholders $ 11,305 $ 9,380 $ 34,149 $ 22,866 Weighted average common shares outstanding for basic earnings per common share (1) 20,400 20,298 20,373 19,826 Add: Dilutive effects of stock options 67 120 92 114 Average shares and dilutive potential common shares (1) 20,467 20,418 20,465 19,940 Diluted earnings per common share $ 0.55 $ 0.46 1.67 1.15 (1) Share and per share data has been adjusted for a 2-for-1 stock split on July 12, 2018. |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 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 Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value At September 30, 2018 (In Thousands) Available-for-Sale Securities: Obligations of U.S. federal government corporations and agencies $ 2,519 $ - $ (49 ) $ 2,470 Mortgage-backed securities – residential 68,863 25 (2,425 ) 66,463 REMICs 2,842 - (28 ) 2,814 Collateralized mortgage obligations 100,874 15 (2,919 ) 97,970 Corporate bonds 12,911 146 - 13,057 Obligations of state and political subdivisions 100,592 1,034 (1,438 ) 100,188 Total Available-for-Sale $ 288,601 $ 1,220 $ (6,859 ) $ 282,962 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 8 $ - $ - $ 8 FNMA certificates 33 - - 33 GNMA certificates 13 - - 13 Obligations of state and political subdivisions 549 - - 549 Total Held-to Maturity $ 603 $ - $ - $ 603 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) At December 31, 2017 Available-for-sale Obligations of U.S. federal 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 $ 1,410 $ 1,414 $ 31 $ 31 Due after one year through five years 23,134 23,379 - - Due after five years through ten years 38,981 39,586 518 518 Due after ten years 52,497 51,336 - - MBS/CMO/REMIC 172,579 167,247 54 54 $ 288,601 $ 282,962 $ 603 $ 603 |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following tables summarize First Defiance’s securities that were in an unrealized loss position at September 30, 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 September 30, 2018 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 1,971 $ (29 ) $ 499 $ (20 ) $ 2,470 $ (49 ) Mortgage-backed securities-residential 36,748 (873 ) 28,676 (1,552 ) 65,424 (2,425 ) REMICs 2,814 (28 ) - - 2,814 (28 ) Collateralized mortgage obligations 66,743 (1,457 ) 29,441 (1,462 ) 96,184 (2,919 ) Obligations of state and political subdivisions 36,875 (815 ) 8,408 (623 ) 45,283 (1,438 ) Total temporarily impaired securities $ 145,151 $ (3,202 ) $ 67,024 $ (3,657 ) $ 212,175 $ (6,859 ) 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 ) |
Marketable Securities [Table Text Block] | The proceeds from the sales and calls of securities and the associated gains and losses are listed below: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands) Proceeds $ 1,944 $ 10,226 $ 1,944 $ 18,047 Gross realized gains 76 166 76 433 Gross realized losses - (8 ) - (8 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Loans Receivable, Net [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable consist of the following: September 30, 2018 December 31, 2017 Real Estate: (In Thousands) Secured by 1-4 family residential $ 313,300 $ 274,862 Secured by multi-family residential 270,554 248,092 Secured by commercial real estate 1,092,533 987,129 Construction 274,344 265,476 1,950,731 1,775,559 Other Loans: Commercial 489,393 526,142 Home equity and improvement 129,295 135,457 Consumer finance 32,379 29,109 651,067 690,708 Total loans 2,601,798 2,466,267 Deduct: Undisbursed loan funds (143,286 ) (115,972 ) Net deferred loan origination fees and costs (2,155 ) (1,582 ) Allowance for loan loss (27,639 ) (26,683 ) Totals $ 2,428,718 $ 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 September 30, 2018 and 2017 by portfolio segment (In Thousands): Quarter Ended September 30, 2018 1-4 Family Residential Real Estate Multi- Family Residential Real Estate Commercial Real Estate Construction Commercial Home Equity and Improvement Consumer Finance Total Beginning Allowance $ 2,682 $ 2,913 $ 11,253 $ 737 $ 7,455 $ 2,032 $ 249 $ 27,321 Charge-Offs (136 ) 0 (1,048 ) 0 (528 ) (36 ) (25 ) (1,773 ) Recoveries 27 38 182 0 413 47 8 715 Provisions 251 61 1,281 (122 ) (179 ) 28 56 1,376 Ending Allowance $ 2,824 $ 3,012 $ 11,668 $ 615 $ 7,161 $ 2,071 $ 288 $ 27,639 Quarter Ended September 30, 2017 1-4 Family Residential Real Estate Multi- Family Residential Real Estate Commercial Real Estate Construction Commercial Home Equity and Improvement Consumer Finance Total Beginning Allowance $ 2,641 $ 2,193 $ 10,136 $ 540 $ 7,973 $ 2,199 $ 233 $ 25,915 Charge-Offs (60 ) 0 0 0 (64 ) (92 ) (20 ) (236 ) Recoveries 11 0 103 0 18 59 9 200 Provisions (54 ) 110 232 38 98 19 19 462 Ending Allowance $ 2,538 $ 2,303 $ 10,471 $ 578 $ 8,025 $ 2,185 $ 241 $ 26,341 The following table discloses allowance for loan loss activity for the year-to-date periods ended September 30, 2018 and September 30, 2017 by portfolio segment (In Thousands): Year-to-date Period Ended September 30, 2018 1-4 Family Residential Real Estate Multi- Family Residential Real Estate Commercial Real Estate Construction Commercial Home Equity and Improvement Consumer Finance Total Beginning Allowance $ 2,532 $ 2,702 $ 10,354 $ 647 $ 7,965 $ 2,255 $ 228 $ 26,683 Charge-Offs (230 ) 0 (1,357 ) 0 (709 ) (194 ) (128 ) (2,618 ) Recoveries 85 40 392 0 2,200 132 21 2,870 Provisions 437 270 2,279 (32 ) (2,295 ) (122 ) 167 704 Ending Allowance $ 2,824 $ 3,012 $ 11,668 $ 615 $ 7,161 $ 2,071 $ 288 $ 27,639 Year-to-date Period Ended September 30, 2017 1-4 Family Residential Real Estate Multi- Family Residential Real Estate Commercial Real Estate Construction Commercial Home Equity and Improvement Consumer Finance Total Beginning Allowance $ 2,627 $ 2,228 $ 10,625 $ 450 $ 7,361 $ 2,386 $ 207 $ 25,884 Charge-Offs (109 ) 0 (400 ) 0 (2,091 ) (246 ) (112 ) (2,958 ) Recoveries 100 32 220 0 227 118 83 780 Provisions (80 ) 43 26 128 2,528 (73 ) 63 2,635 Ending Allowance $ 2,538 $ 2,303 $ 10,471 $ 578 $ 8,025 $ 2,185 $ 241 $ 26,341 |
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 September 30, 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 $ 190 $ 2 $ 97 $ - $ 117 $ 255 $ 1 $ 662 Collectively evaluated for impairment 2,634 3,010 11,571 615 7,044 1,816 287 26,977 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,824 $ 3,012 $ 11,668 $ 615 $ 7,161 $ 2,071 $ 288 $ 27,639 Loans: Loans individually evaluated for impairment $ 6,972 $ 1,582 $ 26,594 $ - $ 12,950 $ 1,082 $ 31 $ 49,211 Loans collectively evaluated for impairment 305,798 268,989 1,069,197 130,516 478,336 129,100 32,450 2,414,386 Loans acquired with deteriorated credit quality 1,017 297 850 - 177 - - 2,341 Total ending loans balance $ 313,787 $ 270,868 $ 1,096,641 $ 130,516 $ 491,463 $ 130,182 $ 32,481 $ 2,465,938 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 September 30, 2018 Nine Months Ended September 30, 2018 Average Balance Interest Income Recognized Cash Basis Income Recognized Average Balance Interest Income Recognized Cash Basis Income Recognized Residential Owner Occupied $ 4,848 $ 41 $ 41 $ 4,695 $ 113 $ 110 Residential Non Owner Occupied 2,371 31 31 2,424 105 102 Total Residential Real Estate 7,219 72 72 7,119 218 212 Construction - - - - - - Multi-Family 1,582 22 22 1,744 71 70 CRE Owner Occupied 10,058 57 49 10,545 179 156 CRE Non Owner Occupied 2,321 19 18 2,815 76 75 Agriculture Land 14,115 150 96 13,370 400 248 Other CRE 1,223 25 25 1,346 75 67 Total Commercial Real Estate 27,717 251 188 28,076 730 546 Commercial Working Capital 10,181 91 84 8,059 196 180 Commercial Other 3,282 34 31 3,809 88 83 Total Commercial 13,463 125 115 11,868 284 263 Home Equity and Improvement 1,091 9 9 1,195 29 29 Consumer Finance 33 1 1 35 3 3 Total Impaired Loans $ 51,105 $ 480 $ 407 $ 50,037 $ 1,334 $ 1,123 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 September 30, 2017 Nine Months Ended September 30, 2017 Average Balance Interest Income Recognized Cash Basis Income Recognized Average Balance Interest Income Recognized Cash Basis Income Recognized Residential Owner Occupied $ 4,188 $ 37 $ 37 $ 3,699 $ 99 $ 99 Residential Non Owner Occupied 2,706 33 33 3,136 104 104 Total Residential Real Estate 6,894 70 70 6,835 203 203 Construction - - - - - - Multi-Family 2,084 9 9 2,534 28 28 CRE Owner Occupied 12,127 24 22 9,613 70 70 CRE Non Owner Occupied 3,484 32 31 3,845 105 98 Agriculture Land 13,547 148 44 8,719 335 126 Other CRE 1,590 27 22 1,637 50 42 Total Commercial Real Estate 30,748 231 119 23,814 560 336 Commercial Working Capital 7,033 38 38 5,115 86 90 Commercial Other 5,926 31 27 5,126 82 60 Total Commercial 12,959 69 65 10,241 168 150 Home Equity and Improvement 1,206 11 10 1,228 32 31 Consumer Finance 54 1 1 62 3 4 Total Impaired Loans $ 53,945 $ 391 $ 274 $ 44,714 $ 994 $ 752 |
Impaired Financing Receivables [Table Text Block] | The following table presents loans individually evaluated for impairment by class of loans (In Thousands): September 30, 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 $ 751 $ 625 $ - $ 2,507 $ 2,364 $ - Residential Non Owner Occupied 999 1,004 - 1,711 1,708 - Total 1-4 Family Residential Real Estate 1,750 1,629 - 4,218 4,072 - Multi-Family Residential Real Estate 1,530 1,537 - 2,095 2,102 - CRE Owner Occupied 7,086 5,835 - 12,273 11,804 - CRE Non Owner Occupied 1,913 1,748 - 3,085 2,925 - Agriculture Land 13,675 13,883 - 13,029 13,185 - Other CRE 471 479 - 981 768 - Total Commercial Real Estate 23,145 21,945 - 29,368 28,682 - Construction - - - - - - Commercial Working Capital 9,657 9,420 - 5,462 5,422 - Commercial Other 2,736 2,548 - 9,916 7,644 - Total Commercial 12,393 11,968 - 15,378 13,066 - Home Equity and Home Improvement - - - 630 584 - Consumer Finance - - - 42 42 - Total loans with no allowance recorded $ 38,818 $ 37,079 $ - $ 51,731 $ 48,548 $ - With an allowance recorded: Residential Owner Occupied $ 4,169 $ 4,129 $ 165 $ 1,841 $ 1,814 $ 137 Residential Non Owner Occupied 1,210 1,214 25 1,031 1,024 30 Total 1-4 Family Residential Real Estate 5,379 5,343 190 2,872 2,838 167 Multi-Family Residential Real Estate 44 45 2 175 176 7 CRE Owner Occupied 3,656 3,172 40 2,007 1,546 44 CRE Non Owner Occupied 624 485 20 651 593 28 Agriculture Land 281 279 5 293 292 14 Other CRE 1,130 713 32 909 708 32 Total Commercial Real Estate 5,691 4,649 97 3,860 3,139 118 Construction - - - - - - Commercial Working Capital 526 528 62 447 449 77 Commercial Other 456 454 55 854 858 110 Total Commercial 982 982 117 1,301 1,307 187 Home Equity and Home Improvement 1,159 1,082 255 596 592 279 Consumer Finance 31 31 1 8 8 - Total loans with an allowance recorded $ 13,286 $ 12,132 $ 662 $ 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: September 30, 2018 December 31, 2017 (In Thousands) Non-accrual loans $ 20,929 $ 30,715 Loans over 90 days past due and still accruing - - Total non-performing loans 20,929 30,715 Real estate and other assets held for sale 1,676 1,532 Total non-performing assets $ 22,605 $ 32,247 Troubled debt restructuring, still accruing $ 12,611 $ 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 September 30, 2018, by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Past Due Total Non- Accrual Residential Owner Occupied $ 192,769 $ 372 $ 1,427 $ 1,756 $ 3,555 $ 3,167 Residential Non Owner Occupied 117,104 163 22 174 359 333 Total 1-4 Family Residential Real Estate 309,873 535 1,449 1,930 3,914 3,500 Multi-Family Residential Real Estate 270,868 - - - - 118 CRE Owner Occupied 413,049 321 2 158 481 5,172 CRE Non Owner Occupied 503,533 - - 140 140 790 Agriculture Land 127,076 39 - 2,988 3,027 5,319 Other Commercial Real Estate 49,335 - - - - 290 Total Commercial Real Estate 1,092,993 360 2 3,286 3,648 11,571 Construction 130,516 - - - - - Commercial Working Capital 213,113 17 - 2,870 2,887 4,359 Commercial Other 274,999 31 - 433 464 772 Total Commercial 488,112 48 - 3,303 3,351 5,131 Home Equity/Home Improvement 128,489 1,348 138 207 1,693 562 Consumer Finance 32,228 186 44 23 253 34 Total Loans $ 2,453,079 $ 2,477 $ 1,633 $ 8,749 $ 12,859 $ 20,916 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 Past Due Total Non- Accrual 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 tables present loans by class modified as TDRs that occurred during the three and nine month periods ending September 30, 2018, and September 30, 2017: Loans Modified as a TDR for the Three Months Ended September 30, 2018 ($ in thousands) Loans Modified as a TDR for the Nine Months Ended September 30, 2018 ($ 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 2 $ 149 14 $ 770 1-4 Family Non Owner Occupied 1 29 3 170 Multi Family 0 - 0 - CRE Owner Occupied 4 335 11 1,849 CRE Non Owner Occupied 0 - 1 44 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital 0 - 5 2,823 Commercial Other 1 66 1 66 Home Equity and Improvement 5 123 7 123 Consumer Finance 4 10 4 10 Total 17 $ 712 46 $ 5,855 The loans described above decreased the allowance for loan and lease losses (“ALLL”) by $39,000 in the three month period ending September 30, 2018 and decreased the ALLL by $60,000 in the nine month period ending September 30, 2018. Loans Modified as a TDR for the Three Months Ended September 30, 2017 ($ in thousands) Loans Modified as a TDR for the Nine Months Ended September 30, 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 10 $ 420 18 $ 923 1-4 Family Non Owner Occupied 0 - 3 104 Multi Family 0 - 0 - CRE Owner Occupied 0 - 1 116 CRE Non Owner Occupied 0 - 0 - Agriculture Land 3 280 5 1,731 Other CRE 0 - 2 165 Commercial Working Capital 2 345 7 2,396 Commercial Other 1 47 5 3,511 Home Equity and Improvement 2 72 4 150 Consumer Finance 1 7 3 10 Total 19 $ 1,171 48 $ 9,106 |
Troubled Debt Restructurings on Payments [Table Text Block] | The following tables present loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the three and nine month periods ended September 30, 2018, and September 30, 2017: Three Months Ended September 30, 2018 ($ in thousands) Nine Months Ended September 30, 2018 ($ 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 3 $ 2,644 3 2,644 Commercial Other 1 30 2 226 Home Equity and Improvement 1 61 1 61 Consumer Finance 0 - 0 - Total 5 $ 2,735 6 $ 2,931 The TDRs that subsequently defaulted described above had no effect on the ALLL for the three and nine month period ended September 30, 2018. Three Months Ended September 30, 2017 ($ in thousands) Nine Months Ended September 30, 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 - 1 225 Commercial Other 0 - 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 0 $ - 1 $ 225 |
Financing Receivable Credit Quality Indicators [Table Text Block] | As of September 30, 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 $ 9,157 $ 92 $ 3,469 $ - $ 183,606 $ 196,324 1-4 Family Non Owner Occupied 106,173 971 3,167 - 7,152 117,463 Total 1-4 Family Real Estate 115,330 1,063 6,636 - 190,758 313,787 Multi-Family Residential Real Estate 268,568 - 2,192 - 108 270,868 CRE Owner Occupied 397,700 6,030 9,707 - 94 413,531 CRE Non Owner Occupied 495,282 5,840 2,551 - - 503,673 Agriculture Land 110,548 4,193 15,361 - - 130,102 Other CRE 46,819 151 1,293 - 1,072 49,335 Total Commercial Real Estate 1,050,349 16,214 28,912 - 1,166 1,096,641 Construction 111,374 467 - - 18,675 130,516 Commercial Working Capital 198,315 7,454 10,230 - - 215,999 Commercial Other 263,539 8,309 3,616 - - 275,464 Total Commercial 461,854 15,763 13,846 - - 491,463 Home Equity and Home Improvement - - 605 - 129,577 130,182 Consumer Finance - - 155 - 32,326 32,481 Total Loans $ 2,007,475 $ 33,507 $ 52,346 $ - $ 372,610 $ 2,465,938 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 |
Schedule of Deterioration of Credit Quality Contractual Purchased Loans [Table Text Block] | The outstanding balance of those loans is as follows (In Thousands): September 30, 2018 December 31, 2017 1-4 Family Residential Real Estate $ 1,053 $ 1,154 Multi-Family Residential Real Estate 303 309 Commercial Real Estate Loans 910 2,921 Commercial 227 407 Consumer - 2 Total Outstanding Balance $ 2,493 $ 4,793 Recorded Investment, net of allowance of $0 $ 2,341 $ 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 - 1,018 Accretion of Income (115 ) (163 ) Reclassification from Non-accretable - - Charge-off of Accretable Yield (197 ) (8 ) Balance at September 30 $ 492 $ 847 |
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 September 30, 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 September 30, 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 |
Mortgage Banking (Tables)
Mortgage Banking (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands) Gain from sale of mortgage loans $ 1,280 $ 1,200 $ 3,744 $ 3,577 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 929 911 2,806 2,769 Amortization of mortgage servicing rights (340 ) (386 ) (1,009 ) (1,101 ) Mortgage servicing rights valuation adjustments 8 (27 ) 91 21 597 498 1,888 1,689 Net revenue from sale and servicing of mortgage loans $ 1,877 $ 1,698 $ 5,632 $ 5,266 |
Capitalized Mortgage and Valuation Allowance [Table Text Block] | Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three and nine months ended September 30, 2018 and 2017: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 10,297 $ 10,154 $ 10,240 $ 10,117 Loans sold, servicing retained 438 426 1,164 1,178 Amortization (340 ) (386 ) (1,009 ) (1,101 ) Carrying value before valuation allowance at end of period 10,395 10,194 10,395 10,194 Valuation allowance: Balance at beginning of period (349 ) (474 ) (432 ) (522 ) Impairment recovery (charges) 8 (27 ) 91 21 Balance at end of period (341 ) (501 ) (341 ) (501 ) Net carrying value of MSRs at end of period $ 10,054 $ 9,693 $ 10,054 $ 9,693 Fair value of MSRs at end of period $ 10,558 $ 9,750 $ 10,558 $ 9,750 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Deposits [Abstract] | |
Deposits [Table Text Block] | A summary of deposit balances is as follows: September 30, 2018 December 31, 2017 (In Thousands) Non-interest-bearing checking accounts $ 556,316 $ 571,360 Interest-bearing checking and money market accounts 1,016,294 1,005,519 Savings deposits 293,359 302,022 Retail certificates of deposit less than $250,000 564,379 504,912 Retail certificates of deposit greater than $250,000 94,083 53,843 $ 2,524,431 $ 2,437,656 |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Sep. 30, 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: September 30, 2018 December 31, 2017 (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 59,000 $ 72,000 Putable advances - 5,000 Amortizable mortgage advances 1,243 7,306 Overnight advances 40,000 - Fair value adjustment on acquired balances (23 ) (27 ) Total $ 100,220 $ 84,279 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 September 30, 2018 and December 31, 2017, is presented in the following tables. Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total At September 30, 2018 (In Thousands) Repurchase agreements: Mortgage-backed securities – residential $ 3,875 $ - $ - $ - $ 3,875 Collateralized mortgage obligations 287 - - - 287 Total borrowings $ 4,162 $ - $ - $ - $ 4,162 Gross amount of recognized liabilities for repurchase agreements $ 4,162 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total At December 31, 2017 (In Thousands) 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 C_2
Commitments, Guarantees and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 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): September 30, 2018 December 31, 2017 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 43,359 $ 171,337 $ 42,458 $ 161,778 Unused lines of credit 9,729 381,265 6,245 408,831 Standby letters of credit - 7,256 - 7,605 Total $ 53,088 $ 559,858 $ 48,703 $ 578,214 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 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: September 30, 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 $ 665 $ - $ 665 $ 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives – Gain (Loss) $ (111 ) $ 47 $ 67 $ 330 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 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 Amount Tax (Expense) Benefit Net of Tax Amount Three months ended September 30, 2018: (In Thousands) Securities available for sale: Change in net unrealized gain/loss during the period $ (2,058 ) $ 432 $ (1,626 ) Reclassification adjustment for net gains included in net income (76 ) 16 (60 ) Total other comprehensive loss $ (2,134 ) $ 448 $ (1,686 ) Nine months ended September 30, 2018: Securities available for sale: Change in net unrealized gain/loss during the period $ (6,487 ) $ 1,362 $ (5,125 ) Reclassification adjustment for net gains included in net income (76 ) 16 (60 ) Total other comprehensive loss $ (6,563 ) $ 1,378 $ (5,185 ) Before Tax Amount Tax (Expense) Benefit Net of Tax Amount Three months ended September 30, 2017: (In Thousands) Securities available for sale: Change in net unrealized gain/loss during the period $ (777 ) $ 272 $ (505 ) Reclassification adjustment for net gains included in net income (158 ) 55 (103 ) Total other comprehensive loss $ (935 ) $ 327 $ (608 ) Nine months ended September 30, 2017: Securities available for sale: Change in net unrealized gain/loss during the period $ 3,383 $ (1,183 ) $ 2,200 Reclassification adjustment for net gains included in net income (425 ) 148 (277 ) Total other comprehensive income $ 2,958 $ (1,035 ) $ 1,923 |
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 (Loss) (In Thousands) Balance January 1, 2018 $ 601 $ (384 ) $ 217 Other comprehensive income before reclassifications (5,125 ) - (5,125 ) Amounts reclassified from accumulated other comprehensive income (60 ) - (60 ) Net other comprehensive income during period (5,185 ) - (5,185 ) Reclassification adjustment upon adoption of ASU 2018-02 129 (82 ) 47 Balance September 30, 2018 $ (4,455 ) $ (466 ) $ (4,921 ) Balance January 1, 2017 $ 504 $ (289 ) $ 215 Other comprehensive income before reclassifications 2,200 - 2,200 Amounts reclassified from accumulated other comprehensive income (277 ) - (277 ) Net other comprehensive income during period 1,923 - 1,923 Balance September 30, 2017 $ 2,427 $ (289 ) $ 2,138 |
Affordable Housing Projects T_2
Affordable Housing Projects Tax Credit Partnership (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Other Commitments [Table Text Block] | As of September 30, 2018, the expected payments for unfunded affordable housing commitments were as follows: (dollars in thousands) Amount 2018 $ 1,205 2019 1,917 2020 1,954 2021 467 2022 338 Thereafter 1,297 Total Unfunded Commitments $ 7,178 |
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 September 30, 2018 and 2017. Three Months Ended September 30, (dollars in thousands) 2018 2017 Proportional Amortization Method Tax credits and other tax benefits recognized $ 276 $ 218 Amortization expense in federal income taxes 234 173 Nine Months Ended September 30, (dollars in thousands) 2018 2017 Proportional Amortization Method Tax credits and other tax benefits recognized $ 785 $ 640 Amortization expense in federal income taxes 703 502 |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 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 Polici_3
Significant Accounting Policies (Details Textual) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2018USD ($) | Sep. 30, 2018USD ($) | |
Property, Plant and Equipment [Line Items] | ||
Operating Leases, Future Minimum Payments Due | $ 11,000,000 | $ 11,000,000 |
Cumulative Effect on Retained Earnings, Net of Tax | 0 | |
Income From Insurance Commission | 3,300,000 | 11,000,000 |
Income From Renewal Of Insurance Commission | 10,000,000 | |
Income From Contingent Consideration | 1,000,000 | |
OREO [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gain (Loss) on Disposition of Business | 10,000 | 28,000 |
Other NonInterest Expense [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Income From Service Charges | 2,000,000 | 5,700,000 |
Income From Network related Charges | 1,000,000 | 3,000,000 |
Wealth Management Revenue | 188,000 | 618,000 |
Trust services Revenue | $ 515,000 | 1,600,000 |
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 | Sep. 30, 2018 | Dec. 31, 2017 |
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 282,962 | $ 260,650 |
Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 97,970 | 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 | 97,970 | 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. federal government corporations and agencies [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 2,470 | 508 |
Obligations of U.S. federal 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. federal government corporations and agencies [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 2,470 | 508 |
Obligations of U.S. federal 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 | 66,463 | 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 | 66,463 | 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 | 2,814 | 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 | 2,814 | 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 | 13,057 | 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 | 13,057 | 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 | 100,188 | 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 | 100,188 | 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 | 665 | 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 | 665 | 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 | 11 | |
Mortgage banking derivative -liability [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | |
Mortgage banking derivative -liability [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 11 | |
Mortgage banking derivative -liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 0 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Impaired loans | ||
Total impaired loans | $ 2,123 | $ 4,604 |
Mortgage servicing rights | 567 | 534 |
Real estate held for sale | ||
Total real estate held for sale | 739 | 227 |
Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 410 | 1,787 |
Real estate held for sale | ||
Total real estate held for sale | 739 | 227 |
Commercial [Member] | ||
Impaired loans | ||
Total impaired loans | 1,713 | 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 | 567 | 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 | 2,123 | 4,604 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 739 | 227 |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 410 | 1,787 |
Real estate held for sale | ||
Total real estate held for sale | 739 | 227 |
Fair Value, Inputs, Level 3 [Member] | Commercial [Member] | ||
Impaired loans | ||
Total impaired loans | $ 1,713 | $ 2,817 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 2,123 | $ 4,604 |
Real estate held for sale - Applies to all classes, Fair Value | 739 | 227 |
Range of Input Zero Percentage [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 | |
Fair Value Measurements, Valuation Processes, Description | 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 | 0.00% | |
Fair Value Measurement Weighted Average Range | 0.00% | |
Range of Input 20% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trust preferred stock, Fair Value | $ 739 | |
Fair Value Measurements, Valuation Processes, Description | 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 | |
Fair Value Measurements, Valuation Processes, Description | 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% | |
Range of Input 10-30% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trust preferred stock, Fair Value | $ 2,123 | |
Fair Value Measurements, Valuation Processes, Description | 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 | 30.00% | |
Fair Value Measurement Weighted Average Range | 14.00% |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Financial Assets, Carrying Value: | ||||
Cash and cash equivalents, Carrying Value | $ 99,526 | $ 113,693 | $ 124,731 | $ 99,003 |
Investment securities, Carrying Value | 283,565 | 261,298 | ||
Federal Home Loan Bank Stock, Carrying Value | 14,217 | 15,992 | ||
Loans, including loans held for sale, Carrying Value | 2,441,203 | 2,332,465 | ||
Accrued interest receivable, Carrying Value | 11,258 | 8,706 | ||
Financial Liabilities, Carrying Value: | ||||
Deposits, Carrying Value | 2,524,431 | 2,437,656 | ||
Advances from Federal Home Loan Bank, Carrying Value | 100,220 | 84,279 | ||
Securities sold under repurchase agreements, Carrying Value | 4,162 | 26,019 | ||
Subordinated debentures, Carrying Value | 36,083 | 36,083 | ||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 99,526 | 113,693 | ||
Investment securities, Fair Value | 283,565 | 261,299 | ||
Loans, including loans held for sale, Fair Value | 2,395,975 | 2,315,791 | ||
Accrued interest receivable, Fair Value | 11,258 | 8,706 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 2,516,006 | 2,444,683 | ||
Advances from Federal Home Loan Bank, Fair Value | 99,043 | 83,261 | ||
Securities sold under repurchase agreements, Fair Value | 4,162 | 26,019 | ||
Subordinated debentures, Fair Value | 34,986 | 35,385 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 99,526 | 113,693 | ||
Investment securities, Fair Value | 0 | 1 | ||
Loans, including loans held for sale, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 11 | 13 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 556,316 | 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 | 283,565 | 261,298 | ||
Loans, including loans held for sale, Fair Value | 12,887 | 10,830 | ||
Accrued interest receivable, Fair Value | 1,665 | 917 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,959,690 | 1,873,323 | ||
Advances from Federal Home Loan Bank, Fair Value | 99,043 | 83,261 | ||
Securities sold under repurchase agreements, Fair Value | 4,162 | 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 | 2,383,088 | 2,304,961 | ||
Accrued interest receivable, Fair Value | 9,582 | 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 | $ 34,986 | $ 35,385 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Fair Value Option Quantitative Disclosures [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 2,123,000 | $ 2,123,000 | $ 4,604,000 | ||
Impaired Financing Receivables, Provisional Expenses | 1,100,000 | $ 8,000 | 1,200,000 | $ 821,000 | |
Mortgage Servicing Rights at Fair Value | 567,000 | 567,000 | 534,000 | ||
Valuation Allowance of Mortgage Servicing Rights | 341,000 | 341,000 | 432,000 | ||
Proceeds from Collection of Loans Receivable | 8,000 | $ 27,000 | 91,000 | 21,000 | |
Real Estate Held-for-sale, Increase (Decrease) in Fair Value | 8,000 | 552,000 | $ 20,000 | ||
Collateral Dependent Loan [Member] | |||||
Fair Value Option Quantitative Disclosures [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 2,100,000 | 2,100,000 | $ 4,600,000 | ||
Valuation Allowance of Mortgage Servicing Rights | $ 10,000 | $ 10,000 | |||
Minimum [Member] | Real Estate held for sale [Member] | |||||
Fair Value Option Quantitative Disclosures [Line Items] | |||||
Fair Value Input Discount Rate | 0.00% | ||||
Maximum [Member] | Real Estate held for sale [Member] | |||||
Fair Value Option Quantitative Disclosures [Line Items] | |||||
Fair Value Input Discount Rate | 30.00% |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | |
Options Outstanding, January 1, 2018 | shares | 86,900 |
Options Outstanding, Forfeited or cancelled | shares | 0 |
Options Outstanding, Exercised | shares | (47,500) |
Options Outstanding, Granted | shares | 0 |
Options outstanding, September 30, 2018 | shares | 39,400 |
Options Outstanding, Vested or expected to vest at September 30, 2018 | shares | 39,400 |
Options Outstanding, Exercisable at September 30, 2018 | shares | 23,900 |
Weighted Average Exercise Price, Outstanding, January 1, 2018 | $ / shares | $ 10.81 |
Weighted Average Exercise Price, Forfeited or cancelled | $ / shares | 0 |
Weighted Average Exercise Price, Exercised | $ / shares | 8.15 |
Weighted Average Exercise Price, Granted | $ / shares | 0 |
Weighted Average Exercise Price, outstanding, September 30, 2018 | $ / shares | 14 |
Weighted Average Exercise Price, Vested or expected to vest at September 30, 2018 | $ / shares | 14 |
Weighted Average Exercise Price, Exercisable at September 30, 2018 | $ / shares | $ 12.22 |
Weighted Average Remaining Contractual Term (in years), outstanding, September 30, 2018 | 5 years 2 months 16 days |
Weighted Average Remaining Contractual Term (in years), Vested or expected to vest at September 30, 2018 | 5 years 2 months 16 days |
Weighted Average Remaining Contractual Term (in years), Exercisable at September 30, 2018 | 4 years 4 months 20 days |
Aggregate Intrinsic Value, outstanding, September 30, 2018 | $ | $ 635 |
Aggregate Intrinsic Value, Vested or expected to vest at September 30, 2018 | $ | 635 |
Aggregate Intrinsic Value, Exercisable at September 30, 2018 | $ | $ 428 |
Stock Compensation Plans (Det_2
Stock Compensation Plans (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Proceeds of options exercised | $ 0 | $ 0 | $ 111 | $ 198 |
Related tax benefit recognized | 0 | 0 | 28 | 54 |
Intrinsic value of options exercised | $ 0 | $ 0 | $ 1,034 | $ 301 |
Stock Compensation Plans (Det_3
Stock Compensation Plans (Details 2) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Restricted Stock Units (RSUs) [Member] | |
Shares, Unvested at January 1, 2018 | shares | 145,076 |
Shares, Granted | shares | 49,024 |
Shares, Vested | shares | (49,514) |
Shares, Forfeited | shares | 0 |
Shares, Unvested at September 30, 2018 | shares | 144,586 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2018 | $ / shares | $ 20.26 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 26.97 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 16.15 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 0 |
Weighted-Average Grant Date Fair Value, Unvested at September 30, 2018 | $ / shares | $ 23.94 |
Stock Grants [Member] | |
Shares, Unvested at January 1, 2018 | shares | 21,072 |
Shares, Granted | shares | 66,118 |
Shares, Vested | shares | (52,818) |
Shares, Forfeited | shares | 0 |
Shares, Unvested at September 30, 2018 | shares | 34,372 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2018 | $ / shares | $ 25.28 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 19.68 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 16.81 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 0 |
Weighted-Average Grant Date Fair Value, Unvested at September 30, 2018 | $ / shares | $ 30.19 |
Stock Compensation Plans (Det_4
Stock Compensation Plans (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 39,400 | 39,400 | 86,900 | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $ 63,000 | $ 63,000 | ||||
Employee Service Share Based Compensation Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition (in years) | 1 year 8 months 12 days | |||||
Allocated Share-based Compensation Expense | 470,000 | $ 373,000 | $ 1,400,000 | $ 1,500,000 | ||
Compensation Expense, Maximum | 4,300,000 | 4,300,000 | ||||
Estimated Compensation Expense, Excepted | 3,500,000 | 3,500,000 | ||||
Unrecognized Compensation Expense | $ 1,300,000 | $ 1,300,000 | ||||
Share-based Compensation Award, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 4,104 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 7,348 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 144,586 | 144,586 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 34,372 | |||||
Restricted Stock Units (RSUs) [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 12,500 | |||||
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 | 900,000 | 900,000 | ||||
Short Term Equity Incentive Plan 2014 [Member] | ||||||
Option Subscription, Description | 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. | |||||
Long Term Equity Incentive Plan 2014 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 49,514 | |||||
Option Subscription, Description | 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 the 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 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 the payment. | |||||
Short Term Equity Incentive Plan 2015 [Member] | ||||||
Option Subscription, Description | 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. | |||||
Long Term Equity Incentive Plan 2016 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 49,052 | |||||
Long Term Equity Incentive Plan 2016 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | 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% | 10.00% | ||||
Long Term Equity Incentive Plan 2017 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 41,314 | |||||
Long Term Equity Incentive Plan 2017 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 20.00% | 20.00% | ||||
Short Term Equity Incentive Plan 2017 [Member] | ||||||
Allocated Share-based Compensation Expense | $ 622,000 | $ 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% | 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 | 16,604 | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 23,952 | |||||
Long Term Equity Incentive Plan 2018 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 41,676 |
Dividends on Common Stock (Deta
Dividends on Common Stock (Details Textual) - $ / shares | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2017 | [1] | Jun. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2018 | [1] | Sep. 30, 2017 | [1] | ||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.17 | $ 0.15 | $ 0.15 | |||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.17 | [1] | $ 0.125 | $ 0.125 | $ 0.125 | $ 0.47 | $ 0.375 | |||||
[1] | Share and per share data has been adjusted to reflect a 2-for-1 stock split on July 12, 2018. |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Basic Earnings Per Share: | |||||
Net income available to common shareholders | $ 11,306 | $ 9,381 | $ 34,152 | $ 22,869 | |
Less: Income allocated to participating securities | 1 | 1 | 3 | 3 | |
Net income allocated to common shareholders | $ 11,305 | $ 9,380 | $ 34,149 | $ 22,866 | |
Weighted average common shares outstanding including participating securities | [1] | 20,409 | 20,308 | 20,382 | 19,836 |
Less: Participating securities | 9 | 10 | 9 | 10 | |
Average common shares | [1],[2] | 20,400 | 20,298 | 20,373 | 19,826 |
Basic earnings per common share | [2] | $ 0.55 | $ 0.46 | $ 1.68 | $ 1.15 |
Diluted Earnings Per Share: | |||||
Net income allocated to common shareholders | $ 11,305 | $ 9,380 | $ 34,149 | $ 22,866 | |
Weighted average common shares outstanding for basic earnings per common share | [1] | 20,400 | 20,298 | 20,373 | 19,826 |
Add: Dilutive effects of stock options | 67 | 120 | 92 | 114 | |
Average shares and dilutive potential common shares | [1] | 20,467 | 20,418 | 20,465 | 19,940 |
Diluted earnings per common share | [2] | $ 0.55 | $ 0.46 | $ 1.67 | $ 1.15 |
[1] | Share and per share data has been adjusted for a 2-for-1 stock split on July 12, 2018. | ||||
[2] | Share and per share data has been adjusted to reflect a 2-for-1 stock split on July 12, 2018. |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | ||
Available-for-sale Securities | ||||
Available-for-Sale Securities, Amortized Cost | $ 288,601 | $ 259,726 | ||
Available-for-Sale Securities, Gross Unrealized Gains | 1,220 | 2,886 | ||
Available-for-Sale Securities, Gross Unrealized Losses | (6,859) | (1,962) | ||
Available-for-Sale Securities, Fair Value | 282,962 | 260,650 | ||
Held-to-Maturity Securities | ||||
Held-to-Maturity Securities, Amortized Cost | [1] | 603 | 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 | 603 | [1] | 649 | |
Obligations of U.S. government corporations and agencies [Member] | ||||
Available-for-sale Securities | ||||
Available-for-Sale Securities, Amortized Cost | 2,519 | 518 | ||
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 0 | ||
Available-for-Sale Securities, Gross Unrealized Losses | (49) | (10) | ||
Available-for-Sale Securities, Fair Value | 2,470 | 508 | ||
Mortgage-backed securities - residential [Member] | ||||
Available-for-sale Securities | ||||
Available-for-Sale Securities, Amortized Cost | 68,863 | 59,942 | ||
Available-for-Sale Securities, Gross Unrealized Gains | 25 | 90 | ||
Available-for-Sale Securities, Gross Unrealized Losses | (2,425) | (763) | ||
Available-for-Sale Securities, Fair Value | 66,463 | 59,269 | ||
REMICs [Member] | ||||
Available-for-sale Securities | ||||
Available-for-Sale Securities, Amortized Cost | 2,842 | 1,072 | ||
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 0 | ||
Available-for-Sale Securities, Gross Unrealized Losses | (28) | (7) | ||
Available-for-Sale Securities, Fair Value | 2,814 | 1,065 | ||
Collateralized mortgage obligations [Member] | ||||
Available-for-sale Securities | ||||
Available-for-Sale Securities, Amortized Cost | 100,874 | 94,588 | ||
Available-for-Sale Securities, Gross Unrealized Gains | 15 | 180 | ||
Available-for-Sale Securities, Gross Unrealized Losses | (2,919) | (892) | ||
Available-for-Sale Securities, Fair Value | 97,970 | 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 | 12,911 | 12,914 | ||
Available-for-Sale Securities, Gross Unrealized Gains | 146 | 189 | ||
Available-for-Sale Securities, Gross Unrealized Losses | 0 | 0 | ||
Available-for-Sale Securities, Fair Value | 13,057 | 13,103 | ||
Obligations of state and political subdivisions [Member] | ||||
Available-for-sale Securities | ||||
Available-for-Sale Securities, Amortized Cost | 100,592 | 90,692 | ||
Available-for-Sale Securities, Gross Unrealized Gains | 1,034 | 2,426 | ||
Available-for-Sale Securities, Gross Unrealized Losses | (1,438) | (290) | ||
Available-for-Sale Securities, Fair Value | 100,188 | 92,828 | ||
Held-to-Maturity Securities | ||||
Held-to-Maturity Securities, Amortized Cost | [1] | 549 | 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] | 549 | 580 | |
FHLMC certificates [Member] | ||||
Held-to-Maturity Securities | ||||
Held-to-Maturity Securities, Amortized Cost | [1] | 8 | 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] | 8 | 10 | |
FNMA certificates [Member] | ||||
Held-to-Maturity Securities | ||||
Held-to-Maturity Securities, Amortized Cost | [1] | 33 | 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] | 33 | 42 | |
GNMA certificates [Member] | ||||
Held-to-Maturity Securities | ||||
Held-to-Maturity Securities, Amortized Cost | [1] | 13 | 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] | $ 13 | $ 17 | |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | ||
Available-for-sale, Due in one year or less, Amortized Cost | $ 1,410 | |||
Available-for-sale, Due after one year through five years, Amortized Cost | 23,134 | |||
Available-for-sale, Due after five years through ten years, Amortized Cost | 38,981 | |||
Available-for-sale, Due after ten years, Amortized Cost | 52,497 | |||
Available-for-sale, MBS/CMO/REMIC, Amortized Cost | 172,579 | |||
Available-for-sale, Amortized Cost | 288,601 | |||
Available-for-sale, Due in one year or less, Fair Value | 1,414 | |||
Available-for-sale, Due after one year through five years, Fair Value | 23,379 | |||
Available-for-sale, Due after five years through ten years, Fair Value | 39,586 | |||
Available-for-sale, Due after ten years, Fair Value | 51,336 | |||
Available-for-sale, MBS/CMO/REMIC, Fair Value | 167,247 | |||
Available-for-sale, Fair Value | 282,962 | $ 260,650 | ||
Held-to-maturity Securities, Due in one year or less, Amortized Cost | 31 | |||
Held-to-maturity Securities, Due after one year through five years, Amortized Cost | 0 | |||
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 | 54 | |||
Held-to-maturity, Amortized Cost | [1] | 603 | 648 | |
Held-to-maturity Securities, Due in one year or less, Fair Value | 31 | |||
Held-to-maturity Securities, Due after one year through five years, Fair Value | 0 | |||
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 | 54 | |||
Held-to-maturity, Fair Value | $ 603 | [1] | $ 649 | |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Detail_2
Investment Securities (Details 2) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 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 | $ 145,151 | 92,314 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Less Than 12 Months, Gross Unrealized Loss | (3,202) | (705) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Fair Value | 67,024 | 43,729 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Gross Unrealized Loss | (3,657) | (1,257) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Fair Value | 212,175 | 136,043 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Unrealized Loss | (6,859) | (1,962) |
Collateralized mortgage obligations [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 66,743 | 49,107 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (1,457) | (320) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 29,441 | 20,804 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (1,462) | (572) |
Available-for-sale securities, Total, Fair Value | 96,184 | 69,911 |
Available-for-sale securities, Total, Unrealized Loss | (2,919) | (892) |
Obligations of state and political subdivisions [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 36,875 | 14,249 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (815) | (163) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 8,408 | 3,370 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (623) | (127) |
Available-for-sale securities, Total, Fair Value | 45,283 | 17,619 |
Available-for-sale securities, Total, Unrealized Loss | (1,438) | (290) |
Mortgage-backed securities - residential [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 36,748 | 27,881 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (873) | (215) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 28,676 | 19,038 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (1,552) | (548) |
Available-for-sale securities, Total, Fair Value | 65,424 | 46,919 |
Available-for-sale securities, Total, Unrealized Loss | (2,425) | (763) |
REMICs [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 2,814 | 1,065 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (28) | (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 | 2,814 | 1,065 |
Available-for-sale securities, Total, Unrealized Loss | (28) | (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 | 1,971 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (29) | 0 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 499 | 508 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (20) | (10) |
Available-for-sale securities, Total, Fair Value | 2,470 | 508 |
Available-for-sale securities, Total, Unrealized Loss | $ (49) | $ (10) |
Investment Securities (Detail_3
Investment Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Proceeds | $ 1,944 | $ 10,226 | $ 1,944 | $ 18,047 |
Gross realized gains | 76 | 166 | 76 | 433 |
Gross realized losses | $ 0 | $ (8) | $ 0 | $ (8) |
Investment Securities (Detail_4
Investment Securities (Details Textual) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2017USD ($) | |
Security Owned and Pledged as Collateral Carrying Value | $ 144,500,000 | ||
Investment Portfolio, Number of Securities | 438 | ||
Investment Portfolio, Number of Securities, Unrealized Loss | 223 | ||
Realized Investment Gains (Losses) | $ 76,000 | $ 158,000 | $ 425,000 |
Realized Investment Gains Losses Net Of Tax | $ 60,000 | $ 103,000 | $ 276,000 |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Real Estate: | ||||||
Real Estate | $ 1,950,731 | $ 1,775,559 | ||||
Other Loans: | ||||||
Total loans | 2,601,798 | 2,466,267 | ||||
Deduct: | ||||||
Undisbursed loan funds | (143,286) | (115,972) | ||||
Net deferred loan origination fees and costs | (2,155) | (1,582) | ||||
Allowance for loan loss | (27,639) | $ (27,321) | (26,683) | $ (26,341) | $ (25,915) | $ (25,884) |
Totals | 2,428,718 | 2,322,030 | ||||
Other Loan [Member] | ||||||
Other Loans: | ||||||
Total loans | 651,067 | 690,708 | ||||
One to Four Family Residential Real Estate [Member] | ||||||
Real Estate: | ||||||
Real Estate | 313,300 | 274,862 | ||||
Multi Family Residential [Member] | ||||||
Real Estate: | ||||||
Real Estate | 270,554 | 248,092 | ||||
Commercial Real Estate [Member] | ||||||
Real Estate: | ||||||
Real Estate | 1,092,533 | 987,129 | ||||
Construction Loans [Member] | ||||||
Real Estate: | ||||||
Real Estate | 274,344 | 265,476 | ||||
Commercial Loan [Member] | ||||||
Other Loans: | ||||||
Total loans | 489,393 | 526,142 | ||||
Home Equity and Home Improvement [Member] | ||||||
Other Loans: | ||||||
Total loans | 129,295 | 135,457 | ||||
Consumer finance [Member] | ||||||
Other Loans: | ||||||
Total loans | $ 32,379 | $ 29,109 |
Loans (Details 1)
Loans (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | $ 27,321 | $ 25,915 | $ 26,683 | $ 25,884 |
Charge-Offs | (1,773) | (236) | (2,618) | (2,958) |
Recoveries | 715 | 200 | 2,870 | 780 |
Provisions | 1,376 | 462 | 704 | 2,635 |
Ending Allowance | 27,639 | 26,341 | 27,639 | 26,341 |
One to Four Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 2,682 | 2,641 | 2,532 | 2,627 |
Charge-Offs | (136) | (60) | (230) | (109) |
Recoveries | 27 | 11 | 85 | 100 |
Provisions | 251 | (54) | 437 | (80) |
Ending Allowance | 2,824 | 2,538 | 2,824 | 2,538 |
Multi Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 2,913 | 2,193 | 2,702 | 2,228 |
Charge-Offs | 0 | 0 | 0 | 0 |
Recoveries | 38 | 0 | 40 | 32 |
Provisions | 61 | 110 | 270 | 43 |
Ending Allowance | 3,012 | 2,303 | 3,012 | 2,303 |
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 11,253 | 10,136 | 10,354 | 10,625 |
Charge-Offs | (1,048) | 0 | (1,357) | (400) |
Recoveries | 182 | 103 | 392 | 220 |
Provisions | 1,281 | 232 | 2,279 | 26 |
Ending Allowance | 11,668 | 10,471 | 11,668 | 10,471 |
Construction Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 737 | 540 | 647 | 450 |
Charge-Offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | (122) | 38 | (32) | 128 |
Ending Allowance | 615 | 578 | 615 | 578 |
Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 7,455 | 7,973 | 7,965 | 7,361 |
Charge-Offs | (528) | (64) | (709) | (2,091) |
Recoveries | 413 | 18 | 2,200 | 227 |
Provisions | (179) | 98 | (2,295) | 2,528 |
Ending Allowance | 7,161 | 8,025 | 7,161 | 8,025 |
Home Equity and Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 2,032 | 2,199 | 2,255 | 2,386 |
Charge-Offs | (36) | (92) | (194) | (246) |
Recoveries | 47 | 59 | 132 | 118 |
Provisions | 28 | 19 | (122) | (73) |
Ending Allowance | 2,071 | 2,185 | 2,071 | 2,185 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 249 | 233 | 228 | 207 |
Charge-Offs | (25) | (20) | (128) | (112) |
Recoveries | 8 | 9 | 21 | 83 |
Provisions | 56 | 19 | 167 | 63 |
Ending Allowance | $ 288 | $ 241 | $ 288 | $ 241 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | $ 662 | $ 758 |
Collectively evaluated for impairment | 26,977 | 25,925 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 27,639 | 26,683 |
Loans: | ||
Loans individually evaluated for impairment | 49,211 | 56,608 |
Loans collectively evaluated for impairment | 2,414,386 | 2,296,053 |
Loans acquired with deteriorated credit quality | 2,341 | 3,828 |
Total ending loans balance | 2,465,938 | 2,356,489 |
One to Four Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 190 | 167 |
Collectively evaluated for impairment | 2,634 | 2,365 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,824 | 2,532 |
Loans: | ||
Loans individually evaluated for impairment | 6,972 | 6,910 |
Loans collectively evaluated for impairment | 305,798 | 267,377 |
Loans acquired with deteriorated credit quality | 1,017 | 1,069 |
Total ending loans balance | 313,787 | 275,356 |
Multi Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 2 | 7 |
Collectively evaluated for impairment | 3,010 | 2,695 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 3,012 | 2,702 |
Loans: | ||
Loans individually evaluated for impairment | 1,582 | 2,278 |
Loans collectively evaluated for impairment | 268,989 | 245,823 |
Loans acquired with deteriorated credit quality | 297 | 301 |
Total ending loans balance | 270,868 | 248,402 |
Commercial Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 97 | 118 |
Collectively evaluated for impairment | 11,571 | 10,236 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 11,668 | 10,354 |
Loans: | ||
Loans individually evaluated for impairment | 26,594 | 31,821 |
Loans collectively evaluated for impairment | 1,069,197 | 956,238 |
Loans acquired with deteriorated credit quality | 850 | 2,121 |
Total ending loans balance | 1,096,641 | 990,180 |
Construction Loans [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 615 | 647 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 615 | 647 |
Loans: | ||
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 130,516 | 149,174 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 130,516 | 149,174 |
Commercial Loan [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 117 | 187 |
Collectively evaluated for impairment | 7,044 | 7,778 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 7,161 | 7,965 |
Loans: | ||
Loans individually evaluated for impairment | 12,950 | 14,373 |
Loans collectively evaluated for impairment | 478,336 | 513,218 |
Loans acquired with deteriorated credit quality | 177 | 337 |
Total ending loans balance | 491,463 | 527,928 |
Home Equity and Home Improvement [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 255 | 279 |
Collectively evaluated for impairment | 1,816 | 1,976 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,071 | 2,255 |
Loans: | ||
Loans individually evaluated for impairment | 1,082 | 1,176 |
Loans collectively evaluated for impairment | 129,100 | 135,098 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 130,182 | 136,274 |
Consumer Finance [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 1 | 0 |
Collectively evaluated for impairment | 287 | 228 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 288 | 228 |
Loans: | ||
Loans individually evaluated for impairment | 31 | 50 |
Loans collectively evaluated for impairment | 32,450 | 29,125 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | $ 32,481 | $ 29,175 |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | $ 51,105 | $ 53,945 | $ 50,037 | $ 44,714 |
Interest Income Recognized | 480 | 391 | 1,334 | 994 |
Cash Basis Income Recognized | 407 | 274 | 1,123 | 752 |
Residential Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 4,848 | 4,188 | 4,695 | 3,699 |
Interest Income Recognized | 41 | 37 | 113 | 99 |
Cash Basis Income Recognized | 41 | 37 | 110 | 99 |
Residential Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 2,371 | 2,706 | 2,424 | 3,136 |
Interest Income Recognized | 31 | 33 | 105 | 104 |
Cash Basis Income Recognized | 31 | 33 | 102 | 104 |
Total Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 7,219 | 6,894 | 7,119 | 6,835 |
Interest Income Recognized | 72 | 70 | 218 | 203 |
Cash Basis Income Recognized | 72 | 70 | 212 | 203 |
Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Cash Basis Income Recognized | 0 | 0 | 0 | 0 |
Multi Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 1,582 | 2,084 | 1,744 | 2,534 |
Interest Income Recognized | 22 | 9 | 71 | 28 |
Cash Basis Income Recognized | 22 | 9 | 70 | 28 |
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 10,058 | 12,127 | 10,545 | 9,613 |
Interest Income Recognized | 57 | 24 | 179 | 70 |
Cash Basis Income Recognized | 49 | 22 | 156 | 70 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 2,321 | 3,484 | 2,815 | 3,845 |
Interest Income Recognized | 19 | 32 | 76 | 105 |
Cash Basis Income Recognized | 18 | 31 | 75 | 98 |
Agriculture Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 14,115 | 13,547 | 13,370 | 8,719 |
Interest Income Recognized | 150 | 148 | 400 | 335 |
Cash Basis Income Recognized | 96 | 44 | 248 | 126 |
Commercial Real Estate Other Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 1,223 | 1,590 | 1,346 | 1,637 |
Interest Income Recognized | 25 | 27 | 75 | 50 |
Cash Basis Income Recognized | 25 | 22 | 67 | 42 |
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 27,717 | 30,748 | 28,076 | 23,814 |
Interest Income Recognized | 251 | 231 | 730 | 560 |
Cash Basis Income Recognized | 188 | 119 | 546 | 336 |
Commercial Working Capital [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 10,181 | 7,033 | 8,059 | 5,115 |
Interest Income Recognized | 91 | 38 | 196 | 86 |
Cash Basis Income Recognized | 84 | 38 | 180 | 90 |
Commercial Loans Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 3,282 | 5,926 | 3,809 | 5,126 |
Interest Income Recognized | 34 | 31 | 88 | 82 |
Cash Basis Income Recognized | 31 | 27 | 83 | 60 |
Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 13,463 | 12,959 | 11,868 | 10,241 |
Interest Income Recognized | 125 | 69 | 284 | 168 |
Cash Basis Income Recognized | 115 | 65 | 263 | 150 |
Home Equity and Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 1,091 | 1,206 | 1,195 | 1,228 |
Interest Income Recognized | 9 | 11 | 29 | 32 |
Cash Basis Income Recognized | 9 | 10 | 29 | 31 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 33 | 54 | 35 | 62 |
Interest Income Recognized | 1 | 1 | 3 | 3 |
Cash Basis Income Recognized | $ 1 | $ 1 | $ 3 | $ 4 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | |
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | $ 38,818 | $ 51,731 |
Recorded Investment, With no allowance | 37,079 | 48,548 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 13,286 | 8,812 |
Recorded Investment, With an Allowance | 12,132 | 8,060 | |
Allowance for Loan Losses Allocated, With an Allowance | 662 | 758 | |
Residential Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 751 | 2,507 |
Recorded Investment, With no allowance | 625 | 2,364 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 4,169 | 1,841 |
Recorded Investment, With an Allowance | 4,129 | 1,814 | |
Allowance for Loan Losses Allocated, With an Allowance | 165 | 137 | |
Residential Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 999 | 1,711 |
Recorded Investment, With no allowance | 1,004 | 1,708 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,210 | 1,031 |
Recorded Investment, With an Allowance | 1,214 | 1,024 | |
Allowance for Loan Losses Allocated, With an Allowance | 25 | 30 | |
One To Four Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,750 | 4,218 |
Recorded Investment, With no allowance | 1,629 | 4,072 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 5,379 | 2,872 |
Recorded Investment, With an Allowance | 5,343 | 2,838 | |
Allowance for Loan Losses Allocated, With an Allowance | 190 | 167 | |
Multi Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,530 | 2,095 |
Recorded Investment, With no allowance | 1,537 | 2,102 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 44 | 175 |
Recorded Investment, With an Allowance | 45 | 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] | 7,086 | 12,273 |
Recorded Investment, With no allowance | 5,835 | 11,804 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 3,656 | 2,007 |
Recorded Investment, With an Allowance | 3,172 | 1,546 | |
Allowance for Loan Losses Allocated, With an Allowance | 40 | 44 | |
Commercial Real Estate Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,913 | 3,085 |
Recorded Investment, With no allowance | 1,748 | 2,925 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 624 | 651 |
Recorded Investment, With an Allowance | 485 | 593 | |
Allowance for Loan Losses Allocated, With an Allowance | 20 | 28 | |
Agriculture Land [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 13,675 | 13,029 |
Recorded Investment, With no allowance | 13,883 | 13,185 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 281 | 293 |
Recorded Investment, With an Allowance | 279 | 292 | |
Allowance for Loan Losses Allocated, With an Allowance | 5 | 14 | |
Commercial Real Estate Other Receivables [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 471 | 981 |
Recorded Investment, With no allowance | 479 | 768 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,130 | 909 |
Recorded Investment, With an Allowance | 713 | 708 | |
Allowance for Loan Losses Allocated, With an Allowance | 32 | 32 | |
Commercial Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 23,145 | 29,368 |
Recorded Investment, With no allowance | 21,945 | 28,682 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 5,691 | 3,860 |
Recorded Investment, With an Allowance | 4,649 | 3,139 | |
Allowance for Loan Losses Allocated, With an Allowance | 97 | 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 [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 9,657 | 5,462 |
Recorded Investment, With no allowance | 9,420 | 5,422 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 526 | 447 |
Recorded Investment, With an Allowance | 528 | 449 | |
Allowance for Loan Losses Allocated, With an Allowance | 62 | 77 | |
Commercial Loans Other [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,736 | 9,916 |
Recorded Investment, With no allowance | 2,548 | 7,644 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 456 | 854 |
Recorded Investment, With an Allowance | 454 | 858 | |
Allowance for Loan Losses Allocated, With an Allowance | 55 | 110 | |
Commercial Loan [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 12,393 | 15,378 |
Recorded Investment, With no allowance | 11,968 | 13,066 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 982 | 1,301 |
Recorded Investment, With an Allowance | 982 | 1,307 | |
Allowance for Loan Losses Allocated, With an Allowance | 117 | 187 | |
Home Equity and Improvement [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 0 | 630 |
Recorded Investment, With no allowance | 0 | 584 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,159 | 596 |
Recorded Investment, With an Allowance | 1,082 | 592 | |
Allowance for Loan Losses Allocated, With an Allowance | 255 | 279 | |
Consumer Finance [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 0 | 42 |
Recorded Investment, With no allowance | 0 | 42 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 31 | 8 |
Recorded Investment, With an Allowance | 31 | 8 | |
Allowance for Loan Losses Allocated, With an Allowance | $ 1 | $ 0 | |
[1] | Presented gross of charge-offs |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 20,929 | $ 30,715 |
Loans over 90 days past due and still accruing | 0 | 0 |
Total non-performing loans | 20,929 | 30,715 |
Real estate and other assets held for sale | 1,676 | 1,532 |
Total non-performing assets | 22,605 | 32,247 |
Troubled debt restructuring, still accruing | $ 12,611 | $ 13,770 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | $ 2,453,079 | $ 2,343,042 |
Total Past Due | 12,859 | 13,447 |
Total Non Accrual | 20,916 | 30,703 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,477 | 5,326 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,633 | 3,098 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 8,749 | 5,023 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 192,769 | 175,139 |
Total Past Due | 3,555 | 3,081 |
Total Non Accrual | 3,167 | 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 | 372 | 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 | 1,427 | 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 | 1,756 | 1,227 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 117,104 | 96,400 |
Total Past Due | 359 | 736 |
Total Non Accrual | 333 | 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 | 163 | 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 | 22 | 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 | 174 | 233 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 309,873 | 271,539 |
Total Past Due | 3,914 | 3,817 |
Total Non Accrual | 3,500 | 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 | 535 | 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 | 1,449 | 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 | 1,930 | 1,460 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 270,868 | 247,980 |
Total Past Due | 0 | 422 |
Total Non Accrual | 118 | 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 | 413,049 | 393,125 |
Total Past Due | 481 | 1,651 |
Total Non Accrual | 5,172 | 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 | 321 | 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 | 2 | 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 | 158 | 1,268 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 503,533 | 403,656 |
Total Past Due | 140 | 516 |
Total Non Accrual | 790 | 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 | 0 | 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 | 0 | 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 | 140 | 424 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 127,076 | 131,753 |
Total Past Due | 3,027 | 478 |
Total Non Accrual | 5,319 | 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 | 39 | 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 | 2,988 | 66 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 49,335 | 58,784 |
Total Past Due | 0 | 217 |
Total Non Accrual | 290 | 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 | 0 | 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 | 0 | 204 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 1,092,993 | 987,318 |
Total Past Due | 3,648 | 2,862 |
Total Non Accrual | 11,571 | 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 | 360 | 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 | 2 | 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 | 3,286 | 1,962 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 130,516 | 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 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 213,113 | 233,632 |
Total Past Due | 2,887 | 2,242 |
Total Non Accrual | 4,359 | 2,369 |
Commercial Working Capital [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 17 | 102 |
Commercial Working Capital [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 [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,870 | 876 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 274,999 | 291,455 |
Total Past Due | 464 | 599 |
Total Non Accrual | 772 | 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 | 31 | 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 | 433 | 517 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 488,112 | 525,087 |
Total Past Due | 3,351 | 2,841 |
Total Non Accrual | 5,131 | 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 | 48 | 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 | 3,303 | 1,393 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 32,228 | 28,800 |
Total Past Due | 253 | 375 |
Total Non Accrual | 34 | 27 |
Consumer Finance [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 186 | 293 |
Consumer Finance [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 44 | 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 | 23 | 2 |
Home Equity and Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 128,489 | 133,144 |
Total Past Due | 1,693 | 3,130 |
Total Non Accrual | 562 | 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 | 1,348 | 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 | 138 | 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 | $ 207 | $ 206 |
Loans (Details 7)
Loans (Details 7) - TDRs [Member] $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 17 | 19 | 46 | 48 |
Troubled Debt Restructurings, Recorded Investment | $ 712 | $ 1,171 | $ 5,855 | $ 9,106 |
1-4 Family Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 2 | 10 | 14 | 18 |
Troubled Debt Restructurings, Recorded Investment | $ 149 | $ 420 | $ 770 | $ 923 |
1-4 Family Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 1 | 0 | 3 | 3 |
Troubled Debt Restructurings, Recorded Investment | $ 29 | $ 0 | $ 170 | $ 104 |
Multi Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 4 | 0 | 11 | 1 |
Troubled Debt Restructurings, Recorded Investment | $ 335 | $ 0 | $ 1,849 | $ 116 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 0 | 0 | 1 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ 0 | $ 0 | $ 44 | $ 0 |
Agriculture Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 0 | 3 | 0 | 5 |
Troubled Debt Restructurings, Recorded Investment | $ 0 | $ 280 | $ 0 | $ 1,731 |
Commercial Real Estate Other Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 0 | 0 | 0 | 2 |
Troubled Debt Restructurings, Recorded Investment | $ 0 | $ 0 | $ 0 | $ 165 |
Other Commercial Working Capital [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 0 | 2 | 5 | 7 |
Troubled Debt Restructurings, Recorded Investment | $ 0 | $ 345 | $ 2,823 | $ 2,396 |
Commercial Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 1 | 1 | 1 | 5 |
Troubled Debt Restructurings, Recorded Investment | $ 66 | $ 47 | $ 66 | $ 3,511 |
Home Equity and Home Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 5 | 2 | 7 | 4 |
Troubled Debt Restructurings, Recorded Investment | $ 123 | $ 72 | $ 123 | $ 150 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 4 | 1 | 4 | 3 |
Troubled Debt Restructurings, Recorded Investment | $ 10 | $ 7 | $ 10 | $ 10 |
Loans (Details 8)
Loans (Details 8) - Subsequently Defaulted [Member] $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 5 | 0 | 6 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 2,735 | $ 0 | $ 2,931 | $ 225 |
1-4 Family Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 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 | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 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 | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 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 | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Agriculture Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 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 | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Working Capital [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 3 | 0 | 3 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 2,644 | $ 0 | $ 2,644 | $ 225 |
Commercial Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 1 | 0 | 2 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 30 | $ 0 | $ 226 | $ 0 |
Home Equity and Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 1 | 0 | 1 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 61 | $ 0 | $ 61 | $ 0 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Loans (Details 9)
Loans (Details 9) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 2,465,938 | $ 2,356,489 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,007,475 | 1,901,149 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 33,507 | 32,539 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 52,346 | 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 | 372,610 | 363,134 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 196,324 | 178,220 |
Residential Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 9,157 | 7,534 |
Residential Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 92 | 99 |
Residential Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,469 | 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 | 183,606 | 168,220 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 117,463 | 97,136 |
Residential Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 106,173 | 85,802 |
Residential Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 971 | 935 |
Residential Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,167 | 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 | 7,152 | 6,564 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 313,787 | 275,356 |
One To Four Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 115,330 | 93,336 |
One To Four Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,063 | 1,034 |
One To Four Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,636 | 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 | 190,758 | 174,784 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 270,868 | 248,402 |
Multi Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 268,568 | 242,969 |
Multi Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 2,503 |
Multi Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,192 | 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 | 108 | 111 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 413,531 | 394,776 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 397,700 | 370,613 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,030 | 10,432 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 9,707 | 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 | 94 | 156 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 503,673 | 404,172 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 495,282 | 395,264 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,840 | 3,464 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,551 | 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 | 130,102 | 132,231 |
Agriculture Land [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 110,548 | 114,776 |
Agriculture Land [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,193 | 2,639 |
Agriculture Land [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 15,361 | 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 | 49,335 | 59,001 |
Commercial Real Estate Other Receivable [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 46,819 | 56,133 |
Commercial Real Estate Other Receivable [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 151 | 165 |
Commercial Real Estate Other Receivable [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,293 | 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 | 1,072 | 915 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,096,641 | 990,180 |
Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,050,349 | 936,786 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 16,214 | 16,700 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 28,912 | 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 | 1,166 | 1,071 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 130,516 | 149,174 |
Construction Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 111,374 | 125,519 |
Construction Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 467 | 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 | 18,675 | 22,401 |
Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 215,999 | 235,874 |
Commercial Working Capital [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 198,315 | 222,526 |
Commercial Working Capital [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,454 | 7,605 |
Commercial Working Capital [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 10,230 | 5,743 |
Commercial Working Capital [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Working Capital [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 | 275,464 | 292,054 |
Commercial Loans Other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 263,539 | 280,013 |
Commercial Loans Other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 8,309 | 3,443 |
Commercial Loans Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,616 | 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 | 491,463 | 527,928 |
Commercial Loan [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 461,854 | 502,539 |
Commercial Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 15,763 | 11,048 |
Commercial Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 13,846 | 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 | 130,182 | 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 | 605 | 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 | 129,577 | 135,674 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 32,481 | 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 | 155 | 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 | $ 32,326 | $ 29,093 |
Loans (Details 10)
Loans (Details 10) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Notes Receivable Net Acquired With Deteriorated Credit Quality | $ 2,341 | $ 3,828 |
One To Four Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 1,017 | 1,069 |
Multi-Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 297 | 301 |
Commercial Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 850 | 2,121 |
Commercial Loan [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 177 | 337 |
Loan Purchase [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 2,493 | 4,793 |
Notes Receivable Net Acquired With Recorded Investment Net Of Allowance | 2,341 | 3,828 |
Loan Purchase [Member] | One To Four Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 1,053 | 1,154 |
Loan Purchase [Member] | Multi-Family Residential Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 303 | 309 |
Loan Purchase [Member] | Commercial Real Estate [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 910 | 2,921 |
Loan Purchase [Member] | Commercial Loan [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | 227 | 407 |
Loan Purchase [Member] | Consumer [Member] | ||
Notes Receivable Net Acquired With Deteriorated Credit Quality | $ 0 | $ 2 |
Loans (Details 11)
Loans (Details 11) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Balance at January 1 | $ 804 | $ 0 |
New Loans Purchased | 0 | 1,018 |
Accretion of Income | (115) | (163) |
Reclassifications from Non-accretable | 0 | 0 |
Charge-off of Accretable Yield | (197) | (8) |
Balance at September 30 | $ 492 | $ 847 |
Loans (Details 12)
Loans (Details 12) $ in Thousands | Sep. 30, 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 | Sep. 30, 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 | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | $ 39,000 | $ 5,000 | $ 60,000 | $ 29,000 | |
Loans and Leases Receivable, Loans in Process | 143,286,000 | 143,286,000 | $ 115,972,000 | ||
Consumer Portfolio Segment [Member] | |||||
Loans and Leases Receivable, Loans in Process | 642,000 | 642,000 | 626,000 | ||
Troubled Debt Restructuring [Member] | |||||
Financing Receivable, Modifications, Recorded Investment | 20,300,000 | 20,300,000 | 21,700,000 | ||
Specified Reserves, Provision for Troubled Debt Restructurings | 658,000 | 658,000 | 751,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 278,000 | 278,000 | $ 242,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 7,700,000 |
Mortgage Banking (Details)
Mortgage Banking (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||||
Gain from sale of mortgage loans | $ 1,280 | $ 1,200 | $ 3,744 | $ 3,577 |
Mortgage loans servicing revenue (expense): | ||||
Mortgage loans servicing revenue | 929 | 911 | 2,806 | 2,769 |
Amortization of mortgage servicing rights | (340) | (386) | (1,009) | (1,101) |
Mortgage servicing rights valuation adjustments | 8 | (27) | 91 | 21 |
Mortgage loans servicing revenue (expense), Total | 597 | 498 | 1,888 | 1,689 |
Net revenue from sale and servicing of mortgage loans | $ 1,877 | $ 1,698 | $ 5,632 | $ 5,266 |
Mortgage Banking (Details 1)
Mortgage Banking (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Mortgage servicing assets: | ||||
Balance at beginning of period | $ 10,297 | $ 10,154 | $ 10,240 | $ 10,117 |
Loans sold, servicing retained | 438 | 426 | 1,164 | 1,178 |
Amortization | (340) | (386) | (1,009) | (1,101) |
Carrying value before valuation allowance at end of period | 10,395 | 10,194 | 10,395 | 10,194 |
Valuation allowance: | ||||
Balance at beginning of period | (349) | (474) | (432) | (522) |
Impairment recovery (charges) | 8 | (27) | 91 | 21 |
Balance at end of period | (341) | (501) | (341) | (501) |
Net carrying value of MSRs at end of period | 10,054 | 9,693 | 10,054 | 9,693 |
Fair value of MSRs at end of period | $ 10,558 | $ 9,750 | $ 10,558 | $ 9,750 |
Mortgage Banking (Details Textu
Mortgage Banking (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||||
Residential Mortgage Loans, Unpaid Balance | $ 1,410,000,000 | $ 1,390,000,000 | ||
Accrual For Estimated Secondary Market Buy Back Losses | $ 34,000 | $ 131,000 | ||
Accrued Liabilities and Other Liabilities | $ 43,000 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Deposits [Line Items] | ||
Non-interest-bearing checking accounts | $ 556,316 | $ 571,360 |
Interest-bearing checking and money market accounts | 1,016,294 | 1,005,519 |
Savings deposits | 293,359 | 302,022 |
Retail certificates of deposit less than $250,000 | 564,379 | 504,912 |
Retail certificates of deposit greater than $250,000 | 94,083 | 53,843 |
Total | $ 2,524,431 | $ 2,437,656 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
FHLB Advances: | ||
Single maturity fixed rate advances | $ 59,000 | $ 72,000 |
Putable advances | 0 | 5,000 |
Amortizable mortgage advances | 1,243 | 7,306 |
Overnight advances | 40,000 | 0 |
Fair value adjustment on acquired balances | (23) | (27) |
Total | 100,220 | 84,279 |
Junior subordinated debentures owed to unconsolidated subsidiary trusts | $ 36,083 | $ 36,083 |
Borrowings (Details 1)
Borrowings (Details 1) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | $ 4,162 | $ 26,019 |
Gross amount of recognized liabilities for repurchase agreements | 4,162 | 26,019 |
Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 3,875 | 6,599 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 287 | 19,420 |
Maturity Overnight [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 4,162 | 26,019 |
Maturity Overnight [Member] | Mortgage Backed Securities, Other [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 3,875 | 6,599 |
Maturity Overnight [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities sold under agreement to repurchase | ||
Amounts outstanding at year-end | 287 | 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 | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Trust Affiliate I [Member] | ||
Issuance Of Trust Preferred Securities | $ 20 | |
Issuance Of Subordinated Debentures | $ 20.6 | |
Coupon Rate On Preferred Securities, Period End | 3.71% | 2.97% |
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.38%. | |
Preferred Securities and Subordinated Debentures Maturity Date | Dec. 15, 2035 | |
Trust Affiliate II [Member] | ||
Issuance Of Trust Preferred Securities | $ 15 | |
Issuance Of Subordinated Debentures | $ 15.5 | |
Coupon Rate On Preferred Securities, Period End | 3.83% | 3.09% |
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.5%. | |
Preferred Securities and Subordinated Debentures Maturity Date | Jun. 15, 2037 |
Commitments, Guarantees and C_3
Commitments, Guarantees and Contingent Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fixed Rate, Commitments to make loans | $ 43,359 | $ 42,458 |
Fixed Rate, Unused lines of credit | 9,729 | 6,245 |
Fixed Rate, Standby letters of credit | 0 | 0 |
Fixed Rate, Total | 53,088 | 48,703 |
Variable Rate, Commitments to make loans | 171,337 | 161,778 |
Variable Rate, Unused lines of credit | 381,265 | 408,831 |
Variable Rate, Standby letters of credit | 7,256 | 7,605 |
Variable Rate, Total | $ 559,858 | $ 578,214 |
Commitments, Guarantees and C_4
Commitments, Guarantees and Contingent Liabilities (Details Textual) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Commitments and Loans, Available to Sell | $ 20 | $ 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 Instrume_3
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Derivatives not designated as hedging instruments | ||
Mortgage Banking Derivatives Assets, Carrying Value | $ 665 | $ 609 |
Mortgage Banking Derivatives Liabilities, Carrying Value | 0 | 11 |
Mortgage Banking Derivatives, Derivatives Net Carrying Value | $ 665 | $ 598 |
Derivative Financial Instrume_4
Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Derivatives not designated as hedging instruments | ||||
Mortgage Banking Derivatives – Gain (Loss) | $ (111) | $ 47 | $ 67 | $ 330 |
Derivative Financial Instrume_5
Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net | $ 19.2 | $ 14.8 |
Notional Amount of Interest Rate Derivative Instruments Not Designated as Hedging Instruments | $ 26.8 | $ 23.2 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Securities available for sale and transferred securities: Before Tax Amount | |||||
Change in net unrealized gain/loss during the period | $ (2,058) | $ (777) | $ (6,487) | $ 3,383 | |
Reclassification adjustment for net gains included in net income | [1] | (76) | (158) | (76) | (425) |
Total other comprehensive income (loss) | (2,134) | (935) | (6,563) | 2,958 | |
Securities available for sale and transferred securities: Tax (Expense) Benefit | |||||
Change in net unrealized gain/loss during the period | 432 | 272 | 1,362 | (1,183) | |
Reclassification adjustment for net gains included in net income | 16 | 55 | 16 | 148 | |
Total other comprehensive income (loss) | 448 | 327 | 1,378 | (1,035) | |
Securities available for sale and transferred securities: Net of Tax Amount | |||||
Change in net unrealized gain/loss during the period | (1,626) | (505) | (5,125) | 2,200 | |
Securities Available For Sale, Amounts reclassified from accumulated other comprehensive income | (60) | (103) | (60) | (277) | |
Other comprehensive income (loss) | $ (1,686) | $ (608) | $ (5,185) | $ 1,923 | |
[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 September 30, 2018 and 2017 was $16 and $55, respectively. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the nine months ended September 30, 2018 and 2017 was $16 and $148, respectively. |
Other Comprehensive Income (D_2
Other Comprehensive Income (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Securities Available For Sale, Beginning balance | $ 601 | $ 504 | ||
Securities Available For Sale, Other comprehensive income before reclassifications | (5,125) | 2,200 | ||
Securities Available For Sale, Amounts reclassified from accumulated other comprehensive income | $ (60) | $ (103) | (60) | (277) |
Securities Available For Sale, Net other comprehensive income during period | (5,185) | 1,923 | ||
Securities Available For Sale, Reclassification adjustment upon adoption of ASU 2018-02 | 129 | |||
Securities Available For Sale, Ending balance | (4,455) | 2,427 | (4,455) | 2,427 |
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 | 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) | (466) | (289) |
Accumulated Other Comprehensive Income (Loss), Beginning balance | 217 | 215 | ||
Accumulated Other Comprehensive Income (Loss), Other comprehensive income before reclassifications | (5,125) | 2,200 | ||
Accumulated Other Comprehensive Income (Loss), Amounts reclassified from accumulated other comprehensive income | (60) | (277) | ||
Accumulated Other Comprehensive Income (Loss), Net other comprehensive income during period | (5,185) | 1,923 | ||
Accumulated Other Comprehensive Income (Loss), Reclassification adjustment upon adoption of ASU 2018-02 | 47 | |||
Accumulated Other Comprehensive Income (Loss), Ending balance | $ (4,921) | $ 2,138 | $ (4,921) | $ 2,138 |
Affordable Housing Projects T_3
Affordable Housing Projects Tax Credit Partnership (Details) - Unfunded Commitments [Member] $ in Thousands | Sep. 30, 2018USD ($) |
Schedule of Equity Method Investments [Line Items] | |
2,018 | $ 1,205 |
2,019 | 1,917 |
2,020 | 1,954 |
2,021 | 467 |
2,022 | 338 |
Thereafter | 1,297 |
Total Unfunded Commitments | $ 7,178 |
Affordable Housing Projects T_4
Affordable Housing Projects Tax Credit Partnership (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Proportional Amortization Method | ||||
Tax credits and other tax benefits recognized | $ 276 | $ 218 | $ 785 | $ 640 |
Amortization expense in federal income taxes | $ 234 | $ 173 | $ 703 | $ 502 |
Affordable Housing Projects T_5
Affordable Housing Projects Tax Credit Partnership (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Other Assets [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Amortization Method Qualified Affordable Housing Project Investments | $ 11,500 | $ 9,200 |
Unfunded Commitments [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | 7,178 | |
Unfunded Commitments [Member] | Other Liabilities [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | $ 7,200 | $ 6,200 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) $ in Thousands | 1 Months Ended | ||
Feb. 24, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | |
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 | $ 98,569 | $ 98,569 |
Business Combinations (Details
Business Combinations (Details Textual) $ / shares in Units, $ in Thousands | Apr. 13, 2017USD ($) | Feb. 24, 2017USD ($) | Sep. 30, 2018USD ($)$ / shares | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)$ / sharesshares | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) |
Goodwill | $ 28,894 | $ 98,569 | $ 98,569 | $ 98,569 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 4,900 | ||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||||||
Payments to Acquire Businesses, Gross | $ 12,340 | ||||||
Business Combination, Consideration Transferred | 68,872 | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2.3616 | ||||||
Compensation and Benefits | $ 12,882 | $ 11,780 | $ 39,016 | $ 37,588 | |||
Customer Relationships [Member] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 564 | ||||||
Non-Compete Intangible [Member] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 192 | ||||||
Commercial Bancshares [Member] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 348,400 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 37,500 | ||||||
Business Combination, Acquisition Related Costs | 3,700 | ||||||
Stock Issued During Period, Shares, Acquisitions | shares | 2,279,004 | ||||||
Business Combination Consideration Transferred cash Per Shares | $ / shares | $ 51 | $ 51 | |||||
Business Combinations Consideration Transferred In Shares Percentage | 80.00% | 80.00% | |||||
Business Combinations Consideration Transferred In Cash Percentage | 20.00% | 20.00% | |||||
Compensation and Benefits | $ 2,800 | ||||||
Corporate One Benefits Agency Inc [Member] | |||||||
Goodwill | 2,300 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 756 | ||||||
Business Combination, Consideration Transferred | $ 9,300 | ||||||
Business Combination, Contingent Consideration, Liability | 7,900 | ||||||
Contingent Consideration Classified as Equity, Fair Value Disclosure | $ 1,800 | ||||||
Corporate One Benefits Agency Inc [Member] | First Payment [Member] | |||||||
Payments to Acquire Businesses, Gross | 6,500 | $ 12,300 | |||||
Corporate One Benefits Agency Inc [Member] | Second Payment [Member] | |||||||
Payments to Acquire Businesses, Gross | 500 | ||||||
Corporate One Benefits Agency Inc [Member] | Third Payment [Member] | |||||||
Payments to Acquire Businesses, Gross | $ 2,300 |