Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 30, 2018 | |
Entity Registrant Name | TRINITY CAPITAL CORP | |
Entity Central Index Key | 99,771 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Voting Common Stock [Member] | ||
Entity Common Stock, Shares Outstanding | 11,651,173 | |
Nonvoting [Member] | ||
Entity Common Stock, Shares Outstanding | 8,044,292 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 10,003 | $ 12,893 |
Interest-bearing deposits with banks | 9,517 | 22,541 |
Cash and cash equivalents | 19,520 | 35,434 |
Investment securities available for sale, at fair value | 470,910 | 468,733 |
Investment securities held to maturity, at amortized cost (fair value of $7,312 and $7,369 as of March 31, 2018 and December 31, 2017, respectively) | 7,824 | 7,854 |
Non-marketable equity securities | 4,471 | 3,617 |
Loans (net of allowance for loan losses of $11,238 and $13,803 as of March 31, 2018 and December 31, 2017, respectively) | 694,108 | 686,341 |
Mortgage servicing rights ("MSRs"), net | 0 | 0 |
Bank owned life insurance ("BOLI") | 25,874 | 25,656 |
Premises and equipment, net | 28,336 | 28,542 |
Other real estate owned ("OREO"), net | 6,449 | 6,432 |
Deferred tax assets | 12,008 | 10,143 |
Other assets | 13,567 | 14,781 |
Total assets | 1,283,067 | 1,287,533 |
Deposits: | ||
Noninterest-bearing | 163,134 | 161,677 |
Interest-bearing | 980,960 | 965,670 |
Total deposits | 1,144,094 | 1,127,347 |
Long-term borrowings | 2,300 | 2,300 |
Junior subordinated debt | 26,764 | 36,941 |
Other liabilities | 8,414 | 15,399 |
Total liabilities | 1,181,572 | 1,181,987 |
Stock owned by Employee Stock Ownership Plan ("ESOP") participants; 831,645 shares and 831,645 shares as of March 31, 2018 and December 31, 2017, respectively, at fair value | 5,961 | 5,961 |
Commitments and contingencies (Note 13) | ||
Shareholders' equity | ||
Additional paid-in capital | 35,332 | 35,071 |
Retained earnings | 56,279 | 54,587 |
Accumulated other comprehensive loss | (9,791) | (3,763) |
Common stock related to ESOP | (5,961) | (5,961) |
Total shareholders' equity | 95,534 | 99,585 |
Total liabilities and shareholders' equity | 1,283,067 | 1,287,533 |
Voting Common Stock [Member] | ||
Shareholders' equity | ||
Common stock | 11,631 | 11,365 |
Nonvoting Common Stock [Member] | ||
Shareholders' equity | ||
Common stock | $ 8,044 | $ 8,286 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Investment securities held to maturity, at amortized cost | $ 7,312 | $ 7,369 |
Net of allowance for loan losses | $ 11,238 | $ 13,803 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Participants, stock ownership (in shares) | 831,645 | 831,645 |
Voting Common Stock [Member] | ||
Stockholders' equity | ||
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, issued (in shares) | 11,631,064 | 11,364,862 |
Common stock, outstanding (in shares) | 11,631,064 | 11,364,862 |
Nonvoting Common Stock [Member] | ||
Stockholders' equity | ||
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, issued (in shares) | 8,044,292 | 8,286,200 |
Common stock, outstanding (in shares) | 8,044,292 | 8,286,200 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest income: | ||
Loans, including fees | $ 8,079 | $ 9,307 |
Interest and dividends on investment securities: | ||
Taxable | 1,582 | 1,672 |
Nontaxable | 1,038 | 246 |
Other interest income | 113 | 161 |
Total interest income | 10,812 | 11,386 |
Interest expense: | ||
Deposits | 412 | 459 |
Borrowings | 53 | 36 |
Junior subordinated debt | 787 | 720 |
Total interest expense | 1,252 | 1,215 |
Net interest income | 9,560 | 10,171 |
Provision for loan losses | 220 | 30 |
Net interest income after provision for loan losses | 9,340 | 10,141 |
Noninterest income: | ||
Mortgage loan servicing fees | (2) | 486 |
Trust and investment services fees | 797 | 651 |
Service charges on deposits | 254 | 295 |
Net gain on sale of OREO | 41 | 328 |
BOLI income | 218 | 91 |
Mortgage referral fee income | 245 | 327 |
Interchange fees | 496 | 630 |
Other fees | 303 | 288 |
Other noninterest income | 6 | (21) |
Total noninterest income | 2,358 | 3,075 |
Noninterest expenses: | ||
Salaries and employee benefits | 5,551 | 6,037 |
Occupancy | 590 | 491 |
Data processing | 1,029 | 1,374 |
Legal, professional, and accounting fees | 525 | 2,212 |
Change in value of MSRs | 0 | 238 |
Other noninterest expense | 2,118 | 3,564 |
Total noninterest expenses | 9,813 | 13,916 |
Income (loss) before provision (benefit) for income taxes | 1,885 | (700) |
Provision (benefit) for income taxes | 193 | (214) |
Net income (loss) | 1,692 | (486) |
Dividends and discount accretion on preferred shares | 0 | 770 |
Net income (loss) available to common shareholders | $ 1,692 | $ (1,256) |
Basic earnings (loss) per common share (in dollars per share) | $ 0.09 | $ (0.10) |
Diluted earnings (loss) per common share (in dollars per share) | $ 0.09 | $ (0.10) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract] | ||
Net income (loss) | $ 1,692 | $ (486) |
Other comprehensive income (loss): | ||
Unrealized (losses) gains on securities available for sale | (8,108) | 630 |
Securities losses (gains) reclassified into earnings | 0 | 0 |
Related income tax benefit (expense) | 2,080 | (249) |
Other comprehensive (loss) income | (6,028) | 381 |
Total comprehensive loss | $ (4,336) | $ (105) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Common Stock Issued [Member]Voting [Member] | Common Stock Issued [Member]Nonvoting [Member] | Common Stock Held in Treasury at Cost [Member] | Preferred Stock [Member] | Preferred Stock [Member]Series A Preferred Stock [Member] | Preferred Stock [Member]Series B Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Common Stock Related To ESOP [Member] | Total | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] |
Balance at Dec. 31, 2016 | $ 9,509 | $ 0 | $ 0 | $ 74,007 | $ (1,373) | $ 60,651 | $ (5,495) | $ (3,192) | $ 134,107 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Net income | (486) | (486) | |||||||||||
Other comprehensive income (loss) | 381 | 381 | |||||||||||
Redemption of preferred shares | $ (35,539) | $ (1,777) | $ (35,539) | $ (1,777) | |||||||||
Dividends declared on preferred shares | (372) | (372) | |||||||||||
Series C preferred shares converted to non-voting common stock | 8,286 | (37,089) | 28,803 | 0 | |||||||||
Common stock issued for board compensation | 34 | 124 | 158 | ||||||||||
Amortization of preferred stock issuance costs | 398 | (398) | 0 | ||||||||||
RSUs compensation expenses | 15 | 15 | |||||||||||
Balance at Mar. 31, 2017 | 9,543 | 8,286 | 0 | 0 | 27,569 | 59,395 | (5,114) | (3,192) | 96,487 | ||||
Balance at Dec. 31, 2017 | 11,365 | 8,286 | 0 | 0 | 35,071 | 54,587 | (3,763) | (5,961) | 99,585 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Net income | 1,692 | 1,692 | |||||||||||
Other comprehensive income (loss) | (6,028) | (6,028) | |||||||||||
Rights offering costs | (2) | (2) | |||||||||||
Common stock issued for board compensation | 10 | 60 | 70 | ||||||||||
RSUs compensation expenses | 217 | 217 | |||||||||||
Common stock issued for vested RSUs | 14 | (14) | 0 | ||||||||||
Conversion from non-voting to voting common stock | 242 | (242) | 0 | ||||||||||
Balance at Mar. 31, 2018 | $ 11,631 | $ 8,044 | $ 0 | $ 0 | $ 35,332 | $ 56,279 | $ (9,791) | $ (5,961) | $ 95,534 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash Flows From Operating Activities | ||
Net income (loss) | $ 1,692 | $ (486) |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 2,062 | 1,904 |
Provision for loan losses | 220 | 30 |
Gains and write-downs on OREO, net | (21) | (321) |
Loss on disposal of premises and equipment | 2 | 0 |
Decrease in deferred income tax assets | 215 | (739) |
Change in escrow liabilities | (5,209) | 2,158 |
Change in value of MSRs | 0 | 238 |
BOLI income | (218) | (91) |
Compensation expense recognized for restricted stock units | 217 | 16 |
Decrease in accrued interest payable on sub debt | 0 | (9,676) |
Changes in operating assets and liabilities: | ||
Other Assets | 1,185 | 482 |
Other Liabilities | (1,775) | (872) |
Net cash provided by operating activities before origination and gross sales of loans held for sale | (1,630) | (7,357) |
Net cash used in operating activities | (1,630) | (7,357) |
Cash Flows From Investing Activities | ||
Proceeds from maturities and paydowns of investment securities, available for sale | 9,905 | 14,264 |
Purchase of investment securities, available for sale | (21,824) | (26,823) |
Proceeds from maturities and paydowns of investment securities, held to maturity | 26 | 822 |
Proceeds from sale of other real estate owned | 509 | 1,117 |
Purchase of investment securities, other | (857) | 0 |
Loans paid down (funded), net | (8,424) | 6,615 |
Purchases of premises and equipment | (122) | (390) |
Net cash provided by (used in) investing activities | (20,787) | (4,395) |
Cash Flows From Financing Activities | ||
Net increase in demand deposits, NOW accounts and savings accounts | 26,268 | 9,614 |
Net decrease in time deposits | (9,523) | (20,377) |
Partial repayment of subordinated debt | (10,310) | 0 |
Redemption of preferred stock | 0 | (37,316) |
Issuance of common stock for stock option plan | 68 | 158 |
Decrease in dividends payable on preferred stock | 0 | (12,965) |
Net cash provided by (used in) financing activities | 6,503 | (60,886) |
Net decrease in cash and cash equivalents | (15,914) | (72,638) |
Cash and cash equivalents: | ||
Beginning of period | 35,434 | 119,335 |
End of period | 19,520 | 46,697 |
Cash payments for: | ||
Interest | 1,601 | 10,928 |
Non-cash investing and financing activities: | ||
Transfers from loans to other real estate owned | 473 | 433 |
Transfer from venture capital to loans | 0 | 150 |
Conversion of Series C preferred stock to non-voting common stock | 0 | 37,089 |
Dividends declared on preferred stock | 0 | 373 |
Conversion of non-voting common stock to voting common stock | $ 242 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 1. Basis of Presentation Consolidation: "Consolidation." Basis of presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for financial information and with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis, and all such adjustments are of a normal recurring nature. These financial statements and the notes thereto should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (the "2017 Form 10-K"). Operating results for the three-month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 or any other period. Reclassifications |
Earnings (Loss) Per Share Data
Earnings (Loss) Per Share Data | 3 Months Ended |
Mar. 31, 2018 | |
Earnings (Loss) Per Share Data [Abstract] | |
Earnings (Loss) Per Share Data | Note 2. Earnings (Loss) Per Share Data The average number of shares used in calculating basic and diluted earnings (loss) per common share were as follows for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 (In thousands, except share and per share data) Net income (loss) $ 1,692 $ (486 ) Dividends and discount accretion on preferred shares - 770 Net income (loss) available to common shareholders $ 1,692 $ (1,256 ) Weighted average common shares issued 19,665,543 13,017,045 LESS: Weighted average treasury stock shares - - Weighted average common shares outstanding, net 19,665,543 13,017,045 Basic income (loss) per common share $ 0.09 $ (0.10 ) Dilutive effect of stock-based compensation 45,133 - Weighted average common shares outstanding including dilutive shares 19,710,676 13,017,045 Diluted income (loss) per common share $ 0.09 $ (0.10 ) Certain restricted stock units were not included in the above calculation, as they would have had an anti-dilutive effect. There were no shares excluded for the three months ended March 31, 2018. The total number of shares excluded was approximately 33,000 shares for three months ended March 31, 2017. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 3. Recent Accounting Pronouncements Newly effective standards: ASU 2014-09 Revenue from Contracts with Customers (Topic 606) ASU No. 2015-14 Revenue from Contracts with Customers (Topic 606) – Deferral of the Effective Date Revenue Recognition The Company recognizes revenue as it is earned and determined no change to its revenue recognition policies as a result of the adoption of ASC 606. The following is a discussion of revenues within the scope of the new revenue guidance: · Service charges on deposit accounts · Debit and credit card interchange fee income · Wealth management and investment brokerage fees · Gains/Losses on sales of OREO · Mortgage referral fees In January 2016, the FASB issued ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825). In May 2017, the FASB issues ASU 2017-09 Newly Issued But Not Effective Accounting Standards: In February 2016, the FASB issued ASU 2016-02 ASU 2016-13 Financial Instruments – Credit Losses In June 2016, the FASB issued ASU 2016-13 Financial Instruments – Credit Losses |
Restrictions on Cash and Due Fr
Restrictions on Cash and Due From Banks | 3 Months Ended |
Mar. 31, 2018 | |
Restrictions on Cash and Due From Banks [Abstract] | |
Restrictions on Cash and Due From Banks | Note 4. Restrictions on Cash and Due From Banks The Bank is required to maintain reserve balances in cash or on deposit with the Board of Governors of the Federal Reserve System ("FRB") based on the level of certain of its deposits. This reserve requirement may be met by funds on deposit with the FRB and cash on hand. As of March 31, 2018 and December 31, 2017, the reserve requirement was $0. The Company maintains some of its cash in bank deposit accounts at financial institutions other than its subsidiaries that, at times, may exceed federally insured limits. The Company may lose all uninsured balances if one of the correspondent banks fails without warning. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2018 | |
Investment Securities [Abstract] | |
Investment Securities | Note 5. Investment Securities Amortized cost and fair values of investment securities are summarized as follows: Securities Available for Sale: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) March 31, 2018 U.S. government sponsored agencies $ 69,310 $ - $ (1,633 ) $ 67,677 State and political subdivisions 163,991 177 (3,690 ) 160,478 Residential mortgage backed securities 120,195 2 (2,086 ) 118,111 Residential collateralized mortgage obligations 18,294 50 (180 ) 18,164 Commercial mortgage backed securities 110,244 - (4,303 ) 105,941 SBA pools 554 - (15 ) 539 Totals $ 482,588 $ 229 $ (11,907 ) $ 470,910 December 31, 2017 U.S. government sponsored agencies $ 69,315 $ - $ (764 ) $ 68,551 State and political subdivisions 157,652 1,306 (252 ) 158,706 Residential mortgage backed securities 124,578 98 (1,593 ) 123,083 Residential collateralized mortgage obligations 9,715 51 (80 ) 9,686 Commercial mortgage backed securities 110,483 67 (2,388 ) 108,162 SBA pools 560 - (15 ) 545 Totals $ 472,303 $ 1,522 $ (5,092 ) $ 468,733 Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) March 31, 2018 SBA pools $ 7,824 $ - $ (512 ) $ 7,312 Totals $ 7,824 $ - $ (512 ) $ 7,312 December 31, 2017 SBA pools $ 7,854 $ - $ (485 ) $ 7,369 Totals $ 7,854 $ - $ (485 ) $ 7,369 As of March 31, 2018 and 2017, there were no realized net gains or losses on sale and call of securities available for sale. There was no tax benefit or provision related to these net realized gains and losses for the three months ended March 31, 2018 and 2017. A summary of unrealized loss information for investment securities, categorized by security type, as of March 31, 2018 and December 31, 2017 was as follows: Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities Available for Sale: March 31, 2018 U.S. government sponsored agencies $ 48,412 $ (979 ) $ 19,265 $ (654 ) $ 67,677 $ (1,633 ) State and political subdivisions 115,741 (2,913 ) 24,041 (777 ) 139,782 (3,690 ) Residential mortgage backed securities 37,193 (512 ) 82,865 (1,574 ) 120,058 (2,086 ) Residential collateralized mortgage obligations 12,521 (156 ) 4,271 (24 ) 16,792 (180 ) Commercial mortgage backed securities 24,331 (536 ) 79,377 (3,767 ) 103,708 (4,303 ) SBA pools - - 539 (15 ) 539 (15 ) Totals $ 238,198 $ (5,096 ) $ 210,358 $ (6,811 ) $ 448,556 $ (11,907 ) December 31, 2017 U.S. government sponsored agencies $ 49,070 $ (331 ) $ 19,481 $ (433 ) $ 68,551 $ (764 ) State and political subdivisions 23,217 (95 ) 24,774 (157 ) 47,991 (252 ) Residential mortgage backed securities 18,771 (199 ) 88,100 (1,394 ) 106,871 (1,593 ) Residential collateralized mortgage obligations 4,761 (67 ) 3,502 (13 ) 8,263 (80 ) Commercial mortgage backed securities 6,961 (94 ) 81,042 (2,294 ) 88,003 (2,388 ) SBA pools - - 545 (15 ) 545 (15 ) Totals $ 102,780 $ (786 ) $ 217,444 $ (4,306 ) $ 320,224 $ (5,092 ) Securities Held to Maturity: March 31, 2018 SBA pools $ - $ - $ 7,312 $ (512 ) $ 7,312 $ (512 ) Totals $ - $ - $ 7,312 $ (512 ) $ 7,312 $ (512 ) December 31, 2017 SBA pools $ - $ - $ 7,369 $ (485 ) $ 7,369 $ (485 ) Totals $ - $ - $ 7,369 $ (485 ) $ 7,369 $ (485 ) As of March 31, 2018, the Company's security portfolio consisted of 156 securities, 133 of which were in an unrealized loss position. As of March 31, 2018, $468.3 million in investment securities had unrealized losses with aggregate depreciation of 2.58% of the Company’s amortized cost basis. Of these securities, $225.0 million in amortized cost had a continuous unrealized loss position for twelve months or longer with an aggregate depreciation of 3.15%. The unrealized losses relate principally to the general change in interest rates and illiquidity, and not credit quality, that has occurred since the securities' purchase dates, and such unrecognized losses or gains will continue to vary with general interest rate level fluctuations in the future. As management does not intend to sell the securities, and it is likely that it will not be required to sell the securities before their anticipated recovery, no declines are deemed to be other than temporary. At March 31, 2018 and 2017, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of shareholders' equity. The amortized cost and fair value of investment securities, as of March 31, 2018, by contractual maturity are shown below. Maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available for Sale Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) One year or less $ 201 $ 200 $ - $ - One to five years 65,540 64,008 - - Five to ten years 6,578 6,487 - - Over ten years 161,536 157,999 7,824 7,312 Subtotal 233,855 228,694 7,824 7,312 Residential mortgage backed security 120,195 118,111 - - Residential collateralized mortgage obligation 18,294 18,164 - - Commercial mortgage backed security 110,244 105,941 Total $ 482,588 $ 470,910 $ 7,824 $ 7,312 Securities with carrying amounts of $83.8 million and $87.4 million as of March 31, 2018 and December 31, 2017, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2018 | |
Loans and Allowance for Loan Losses [Abstract] | |
Loans and Allowance for Loan Losses | Note 6. Loans and Allowance for Loan Losses As of March 31, 2018 and December 31, 2017, loans consisted of: March 31, 2018 December 31, 2017 (In thousands) Commercial $ 67,557 $ 61,388 Commercial real estate 384,247 378,802 Residential real estate 169,559 178,296 Construction real estate 68,002 63,569 Installment and other 16,794 18,952 Total loans 706,159 701,007 Unearned income (813 ) (863 ) Gross loans 705,346 700,144 Allowance for loan losses (11,238 ) (13,803 ) Net loans $ 694,108 $ 686,341 Loan Origination/Risk Management. Commercial loans: Commercial real estate loans: With respect to loans to developers and builders that are secured by non-owner occupied properties that the Company may originate from time to time, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Residential real estate loans: Construction real estate loans: Installment loans: The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures, which include periodic internal reviews and reports to identify and address risk factors developing within the loan portfolio. The Company engages external independent loan reviews that assess and validate the credit risk program on a periodic basis. Results of these reviews are presented to and reviewed by management and the Board of Directors. The following table presents the contractual aging of the recorded investment in current and past due loans by class of loans as of March 31, 2018 and December 31, 2017, including nonaccrual loans: Current 30-59 Days Past Due 60-89 Days Past Due Loans past due 90 days or more Total Past Due Total March 31, 2018 (In thousands) Commercial $ 67,214 $ 318 $ 25 $ - $ 343 $ 67,557 Commercial real estate 380,993 1,292 - 1,962 3,254 384,247 Residential real estate 166,462 1,314 387 1,396 3,097 169,559 Construction real estate 64,114 338 - 3,550 3,888 68,002 Installment and other 16,673 29 - 92 121 16,794 Total loans $ 695,456 $ 3,291 $ 412 $ 7,000 $ 10,703 $ 706,159 Nonaccrual loan classification, included above $ 4,729 $ 484 $ 412 $ 7,000 $ 7,896 $ 12,625 December 31, 2017 Commercial $ 59,703 $ 173 $ 1,475 $ 37 $ 1,685 $ 61,388 Commercial real estate 371,640 5,490 - 1,672 7,162 378,802 Residential real estate 174,388 1,899 - 2,009 3,908 178,296 Construction real estate 59,291 423 74 3,781 4,278 63,569 Installment and other 18,705 80 81 86 247 18,952 Total loans $ 683,727 $ 8,065 $ 1,630 $ 7,585 $ 17,280 $ 701,007 Nonaccrual loan classification, included above $ 3,858 $ 5,859 $ 38 $ 7,585 $ 13,482 $ 17,340 The following table presents the recorded investment in nonaccrual loans and loans past due 90 days or more and still accruing interest by class of loans as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Nonaccrual Loans past due 90 days or more and still accruing interest Nonaccrual Loans past due 90 days or more and still accruing interest (In thousands) Commercial $ 58 $ - $ 102 $ - Commercial real estate 5,056 - 8,617 - Residential real estate 3,774 - 4,599 - Construction real estate 3,645 - 3,911 - Installment and other 92 - 111 - Total $ 12,625 $ - $ 17,340 $ - The Company utilizes an internal asset classification system as a means of reporting problem and potential problem loans. Under the Company’s risk rating system, problem and potential problem loans are classified as “Special Mention,” “Substandard,” and “Doubtful.” “Substandard” loans include those characterized by the likelihood that the Company will sustain some loss if the deficiencies are not corrected. Loans classified as "Doubtful" have all the weaknesses inherent in those classified as "Substandard" with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans that do not currently expose the Company to sufficient risk to warrant classification in one of the aforementioned categories, but possess weaknesses that deserve management’s close attention are deemed to be "Special Mention." Any time a situation warrants, the risk rating may be reviewed. Loans not meeting the criteria above that are analyzed individually are considered to be pass-rated loans. The following table presents the risk category by class of loans based on the most recent analysis performed as of March 31, 2018 and December 31, 2017: Pass Special Mention Substandard Doubtful Total March 31, 2018 (In thousands) Commercial $ 64,757 $ 225 $ 2,575 $ - $ 67,557 Commercial real estate 369,163 4,507 10,577 - 384,247 Residential real estate 164,280 - 5,279 - 169,559 Construction real estate 61,717 898 5,387 - 68,002 Installment and other 16,386 - 408 - 16,794 Total $ 676,303 $ 5,630 $ 24,226 $ - $ 706,159 December 31, 2017 Commercial $ 58,769 $ 2 $ 2,617 $ - $ 61,388 Commercial real estate 359,768 4,762 14,272 - 378,802 Residential real estate 172,101 - 6,195 - 178,296 Construction real estate 56,661 917 5,991 - 63,569 Installment and other 18,523 - 429 - 18,952 Total $ 665,822 $ 5,681 $ 29,504 $ - $ 701,007 The following table shows all loans, including nonaccrual loans, by risk category and aging as of March 31, 2018 and December 31, 2017: Pass Special Mention Substandard Doubtful Total March 31, 2018 (In thousands) Current $ 673,557 $ 5,630 $ 16,269 $ - $ 695,456 Past due 30-59 days 2,746 - 545 - 3,291 Past due 60-89 days - - 412 - 412 Past due 90 days or more - - 7,000 - 7,000 Total $ 676,303 $ 5,630 $ 24,226 $ - $ 706,159 December 31, 2017 (In thousands) Current $ 662,445 $ 5,681 $ 15,601 $ - $ 683,727 Past due 30-59 days 1,785 - 6,280 - 8,065 Past due 60-89 days 1,592 - 38 - 1,630 Past due 90 days or more - - 7,585 - 7,585 Total $ 665,822 $ 5,681 $ 29,504 $ - $ 701,007 As of March 31, 2018 and December 31, 2017, nonaccrual loans totaling $12.6 million and $17.3 million were classified as "Substandard," respectively. The following table presents loans individually evaluated for impairment by class of loans as of March 31, 2018 and December 31, 2017, showing the unpaid principal balance, the recorded investment of the loan (reflecting any loans with partial charge-offs), and the amount of allowance for loan losses specifically allocated for these impaired loans (if any): March 31, 2018 December 31, 2017 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated (In thousands) With no related allowance recorded: Commercial $ 99 $ 96 $ 184 $ 182 Commercial real estate 8,014 5,056 4,294 4,154 Residential real estate 5,809 5,012 6,585 5,808 Construction real estate 6,804 5,429 7,471 6,049 Installment and other 309 308 349 348 With an allowance recorded: Commercial 13,267 13,266 $ 243 13,361 13,359 $ 211 Commercial real estate 6,474 6,474 1,199 10,987 10,987 3,735 Residential real estate 6,641 6,641 857 6,774 6,774 943 Construction real estate 3,206 3,206 227 3,244 3,244 231 Installment and other 243 243 37 236 236 32 Total $ 50,866 $ 45,731 $ 2,563 $ 53,485 $ 51,141 $ 5,152 The table above includes $39.9 million of troubled debt restructurings, or restructured loans, at March 31, 2018 and $38.9 million of restructured loans at December 31, 2017. The following table presents loans individually evaluated for impairment by class of loans for the three months ended March 31, 2018 and 2017, showing the average recorded investment and the interest income recognized: Three Months Ended March 31, 2018 March 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial $ 139 $ 1 $ 1,989 $ 14 Commercial real estate 4,605 - 5,035 10 Residential real estate 5,410 15 4,459 22 Construction real estate 5,739 22 6,982 88 Installment and other 328 3 308 3 With an allowance recorded: Commercial 13,313 187 13,935 186 Commercial real estate 8,730 70 6,353 67 Residential real estate 6,708 75 8,343 81 Construction real estate 3,225 42 4,209 40 Installment and other 239 2 405 3 Total $ 48,436 $ 417 $ 52,018 $ 514 If nonaccrual loans outstanding had been current in accordance with their original terms, approximately $188.3 thousand and $211.4 thousand would have been recorded as loan interest income during the three months ended March 31, 2018 and 2017, respectively. Interest income recognized in the above table was primarily recognized on a cash basis. Recorded investment balances in the above tables exclude accrued interest income and unearned income as such amounts were immaterial. Allowance for Loan Losses: For the three months ended March 31, 2018 and 2017, activity in the allowance for loan losses was as follows: Commercial Commercial real estate Residential real estate Construction real estate Installment and other Unallocated Total (In thousands) Three Months Ended March 31, 2018: Beginning balance $ 536 $ 8,573 $ 2,843 $ 1,030 $ 315 $ 506 $ 13,803 Provision (benefit) for loan losses 46 1,046 (323 ) (53 ) (95 ) (401 ) 220 Charge-offs (9 ) (2,736 ) (105 ) (112 ) (28 ) - (2,990 ) Recoveries 24 22 47 49 63 - 205 Net charge-offs 15 (2,714 ) (58 ) (63 ) 35 - (2,785 ) Ending balance $ 597 $ 6,905 $ 2,462 $ 914 $ 255 $ 105 $ 11,238 Three Months Ended March 31, 2017: Beginning balance $ 1,449 $ 6,472 $ 4,524 $ 1,119 $ 715 $ 73 $ 14,352 Provision (benefit) for loan losses 320 13 (209 ) (27 ) 4 (71 ) 30 Charge-offs (186 ) - (244 ) (16 ) (137 ) - (583 ) Recoveries 173 88 55 10 62 - 388 Net charge-offs (13 ) 88 (189 ) (6 ) (75 ) - (195 ) Ending balance $ 1,756 $ 6,573 $ 4,126 $ 1,086 $ 644 $ 2 $ 14,187 Allocation of the allowance for loan losses (as well as the total loans in each allocation method), disaggregated on the basis of the Company’s impairment methodology, is as follows: Commercial Commercial real estate Residential real estate Construction real estate Installment and other Unallocated Total March 31, 2018 (In thousands) Allowance for loan losses allocated to: Loans individually evaluated for impairment $ 243 $ 1,199 $ 857 $ 227 $ 37 $ - $ 2,563 Loans collectively evaluated for impairment 354 5,706 1,605 687 218 105 8,675 Ending balance $ 597 $ 6,905 $ 2,462 $ 914 $ 255 $ 105 $ 11,238 Loans: Individually evaluated for impairment $ 13,362 $ 11,530 $ 11,653 $ 8,635 $ 551 $ - $ 45,731 Collectively evaluated for impairment 54,195 372,717 157,906 59,367 16,243 - 660,428 Total ending loans balance $ 67,557 $ 384,247 $ 169,559 $ 68,002 $ 16,794 $ - $ 706,159 December 31, 2017 Allowance for loan losses allocated to: Loans individually evaluated for impairment $ 211 $ 3,735 $ 943 $ 231 $ 32 $ - $ 5,152 Loans collectively evaluated for impairment 325 4,838 1,900 799 283 506 8,651 Ending balance $ 536 $ 8,573 $ 2,843 $ 1,030 $ 315 $ 506 $ 13,803 Loans: Individually evaluated for impairment $ 13,541 $ 15,141 $ 12,582 $ 9,293 $ 584 $ - $ 51,141 Collectively evaluated for impairment 47,847 363,661 165,714 54,276 18,368 - 649,866 Total ending loans balance $ 61,388 $ 378,802 $ 178,296 $ 63,569 $ 18,952 $ - $ 701,007 In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. The evaluation is performed under the Company's internal underwriting policy. Troubled Debt Restructurings: TDRs are defined as those loans where: (1) the borrower is experiencing financial difficulties and (2) the restructuring includes a concession by the Bank to the borrower. The following table presents loans restructured as TDRs during the three months ended March 31, 2018 and 2017, respectively. Three Months Ended March 31, 2018 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Commercial 1 $ 171 $ 171 $ 1 Commercial real estate 2 2,356 2,356 - Total 3 $ 2,527 $ 2,527 $ 1 Three Months ended March 31, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Construction real estate 1 $ 10 $ 10 $ - Total 1 $ 10 $ 10 $ - The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 Number of Contracts Pre- Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Commercial 1 $ 25 $ 25 Total 1 $ 25 $ 25 Three Months Ended March 31, 2017 Number of Contracts Pre- Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Construction real estate 1 $ 61 $ - Total 1 $ 61 $ - Impairment analyses are prepared on TDRs in conjunction with the normal allowance for loan loss process. TDRs restructured during the three months ended March 31, 2018 and 2017 required $1 thousand and $0 in specific reserves, respectively. TDRs resulted in charge-offs of $147 thousand and $20 thousand during the three months ended March 31, 2018 and 2017, respectively. The TDRs that subsequently defaulted required a provision of $25 thousand and $0 to the allowance for loan losses for the three months ended March 31, 2018 and 2017, respectively. The following table presents total TDRs, both in accrual and nonaccrual status as of the periods indicated: March 31, 2018 December 31, 2017 Number of contracts Amount Number of contracts Amount (Dollars in thousands) Accrual $ 104 $ 32,934 $ 108 $ 33,801 Nonaccrual 17 6,844 19 5,146 Total $ 121 $ 39,778 $ 127 $ 38,947 Specific reserves on TDRs at March 31, 2018 and December 31, 2017 were $2.6 million and $2.4 million, respectively. As of March 31, 2018, the Bank had a total of $2.1 thousand in commitments to lend additional funds on one residential loan classified as a TDR. Loans to Executive Officers and Directors: Loan principal balances to executive officers and directors of the Company were $174.6 thousand and $198.4 thousand as of March 31, 2018 and December 31, 2017, respectively. Total credit available, including companies in which these individuals have management control or beneficial ownership, was $300.6 thousand and $324.4 thousand as of March 31, 2018 and December 31, 2017, respectively. An analysis of the activity related to these loans as of March 31, 2018 and December 31, 2017 is as follows: March 31, 2018 December 31, 2017 (In thousands) Balance, beginning $ 198 $ 348 Additions - 13 Changes in Board composition - (76 ) Principal payments and other reductions (24 ) (87 ) Balance, ending $ 174 $ 198 |
Loan Servicing and Mortgage Ser
Loan Servicing and Mortgage Servicing Rights ("MSRs") | 3 Months Ended |
Mar. 31, 2018 | |
Loan Servicing and Mortgage Servicing Rights ("MSRs") [Abstract] | |
Loan Servicing and Mortgage Servicing Rights ("MSRs") | Note 7. Loan Servicing and Mortgage Servicing Rights ("MSRs") Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The company's mortgage loans serviced for others portfolio was transferred to another Fannie Mae-approved servicer on December 31, 2017. During the three months ended March 31, 2017, substantially all of the loans serviced for others had a contractual servicing fee of 0.25% on the unpaid principal balance. These fees are recorded as “mortgage loan servicing fees” under “noninterest income” on the consolidated statements of operations. Late fees on the loans serviced for others totaled $18 thousand during the three months ended March 31, 2017. These fees are recorded included in “noninterest income” on the consolidated statements of operations. Custodial balances on deposit at the Bank in connection with the foregoing loan servicing were approximately $0 and $4.2 million as of March 31, 2018 and December 31, 2017, respectively. There were no custodial balances on deposit with other financial institutions as of March 31, 2018 and December 31, 2017. |
Other Real Estate Owned ("OREO"
Other Real Estate Owned ("OREO") | 3 Months Ended |
Mar. 31, 2018 | |
Other Real Estate Owned ("OREO") [Abstract] | |
Other Real Estate Owned ("OREO") | Note 8. Other Real Estate Owned ("OREO") OREO consists of property acquired due to foreclosure on real estate loans. As of March 31, 2018 and December 31, 2017, total OREO consisted of: March 31, 2018 December 31, 2017 (In thousands) Commercial real estate $ 1,649 $ 1,667 Residential real estate 1,051 886 Construction real estate 3,749 3,879 Total $ 6,449 $ 6,432 The following table presents a summary of OREO activity for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 (In thousands) Balance at beginning of period $ 6,432 $ 8,436 Transfers in at fair value 473 433 Capitalized improvements 32 - Write-down of value (18 ) (82 ) Gain on disposal 39 321 Cash received upon disposition (509 ) (1,117 ) Sales financed by loans - - Balance at end of period $ 6,449 $ 7,991 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2018 | |
Deposits [Abstract] | |
Deposits | Note 9. Deposits As of March 31, 2018 and December 31, 2017, deposits consisted of: March 31, 2018 December 31, 2017 (In thousands ) Demand deposits, noninterest bearing $ 163,134 $ 161,677 NOW and money market accounts 428,436 404,225 Savings deposits 388,901 388,300 Time certificates, $250,000 or more 21,339 21,639 Other time certificates 142,284 151,506 Total $ 1,144,094 $ 1,127,347 Deposits from executive officers, directors and their affiliates as of March 31, 2018 and December 31, 2017 were $1.8 million and $2.2 million, respectively. |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2018 | |
Borrowings [Abstract] | |
Borrowings | Note 10. Borrowings Notes payable to the Federal Home Loan Bank of Dallas ("FHLB") as of March 31, 2018 and December 31, 2017 were secured by a blanket assignment of mortgage loans or other collateral acceptable to FHLB, and generally had a fixed rate of interest, interest payable monthly and principal due at end of term, unless otherwise noted. As of March 31, 2018, there were $328.6 million in collateral value from loans pledged under the blanket assignment and $76.1 million from investment securities held in safekeeping at the FHLB. At March 31, 2018, there were $2.3 million in advances outstanding at the FHLB. An additional $402.4 million in advances is available based on the March 31, 2018 value of the remaining unpledged loans and investment securities. In the event that short-term liquidity is needed, the Bank has established a relationship with a large regional bank to provide short-term borrowings in the form of federal funds purchased. The Bank has the ability to borrow up to $20 million for a short period (15 to 60 days) from this bank. The following table details borrowings as of March 31, 2018 and December 31, 2017. Maturity Date Rate Type Principal due March 31, 2018 December 31, 2017 (In thousands) April 27, 2021 6.343 % Fixed At maturity 2,300 2,300 Total $ 2,300 $ 2,300 |
Junior Subordinated Debt
Junior Subordinated Debt | 3 Months Ended |
Mar. 31, 2018 | |
Junior Subordinated Debt [Abstract] | |
Junior Subordinated Debt | Note 11. Junior Subordinated Debt The following table presents details on the junior subordinated debt as of March 31, 2018: Trust I Trust III Trust IV Trust V (Dollars in thousands) Date of Issue March 23, 2000 May 11, 2004 June 29, 2005 September 21, 2006 Amount of trust preferred securities issued $ 10,000 $ 6,000 $ 10,000 $ 10,000 Rate on trust preferred securities 10.875 % 4.70625% (variable) 6.88 % 3.7745% (variable) Maturity March 8, 2030 September 8, 2034 November 23, 2035 December 15, 2036 Date of first redemption March 8, 2010 September 8, 2009 August 23, 2010 September 15, 2011 Common equity securities issued $ 310 $ 186 $ 310 $ 310 Junior subordinated deferrable interest debentures owed $ - $ 6,186 $ 10,310 $ 10,310 Rate on junior subordinated deferrable interest debentures 10.875 % 4.70625% (variable) 6.88 % 3.7745% (variable) On the dates of issue indicated above, the Trusts, being Delaware statutory business trusts, issued trust preferred securities (the “trust preferred securities”) in the amount and at the rate indicated above. These trust preferred securities represent preferred beneficial interests in the assets of the Trusts. The trust preferred securities will mature on the dates indicated, and are redeemable in whole or in part at the option of Trinity, with the approval of the FRB. The Trusts also issued common equity securities to Trinity in the amounts indicated above. The Trusts used the proceeds of the offering of the trust preferred securities to purchase junior subordinated deferrable interest debentures (the “debentures”) issued by Trinity, which have terms substantially similar to the trust preferred securities. On March 8, 2018, Trinity consummated the early redemption of all $10.3 million principal amount of those certain Junior Subordinated Deferrable Interest Debentures due 2030 (the “Debt Securities”) issued by Trust I. The Debt Securities carried an interest rate of 10.875% and were scheduled to mature on March 8, 2030. The Debt Securities were callable at a redemption rate of 101.088%, plus accrued and unpaid interest, for a total redemption price of $11.0 million. Prior deferred issuance costs related to Trust I of $131 thousand were realized as other noninterest expense on the consolidated statement of operations. Trinity has the right to defer payments of interest on the debentures at any time or from time to time for a period of up to ten consecutive semi-annual periods (or twenty consecutive quarterly periods in the case of Trusts with quarterly interest payments) with respect to each interest payment deferred. During a period of deferral, unpaid accrued interest is compounded. Under the terms of the debentures, under certain circumstances of default or if Trinity has elected to defer interest on the debentures, Trinity may not, with certain exceptions, declare or pay any dividends or distributions on its common stock or purchase or acquire any of its common stock. As of March 31, 2018 and December 31, 2017, there was $110.7 thousand and $456.0 thousand, respectively, in interest accrued and unpaid to trust preferred security holders. As of March 31, 2018 and December 31, 2017, the Company’s trust preferred securities, subject to certain limitations, qualified as Tier 1 Capital for regulatory capital purposes. Payments of distributions on the trust preferred securities and payments on redemption of the trust preferred securities are guaranteed by Trinity. Trinity also entered into an agreement as to expenses and liabilities with the Trusts pursuant to which it agreed, on a subordinated basis, to pay any costs, expenses or liabilities of the Trusts other than those arising under the trust preferred securities. The obligations of Trinity under the junior subordinated debentures, the related indenture, the trust agreement establishing the Trusts, the guarantee and the agreement as to expenses and liabilities, in the aggregate, constitute a full and unconditional guarantee by Trinity of the Trusts’ obligations under the trust preferred securities. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
Income Taxes [Abstract] | |
Income Taxes | Note 12. Income Taxes For the three months ended March 31, 2018, the Company recorded a tax expense of $193 thousand compared to a tax benefit of $214 thousand for the three months ended March 31, 2017. Items causing differences between the Federal statutory tax rate and the effective tax rate are summarized as follows: Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 Amount Rate Amount Rate (Dollars in thousands) Federal statutory tax rate $ 396 21.00 % $ (238 ) 34.00 % State income tax, net of federal benefit 61 3.23 % 155 (22.22 )% Net tax exempt interest income (211 ) (11.18 )% (91 ) 13.08 % Other, net (53 ) (2.81 )% (40 ) 5.68 % Tax provision (benefit) before change in valuation allowance 193 10.24 % (214 ) 30.54 % Change in valuation allowance - - - - Provision (benefit) for income taxes $ 193 10.24 % $ (214 ) 30.54 % A deferred tax asset ("DTA") or liability is recognized to reflect the net tax effects of temporary differences between the carrying amounts of existing assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes. A valuation allowance is established when it is more likely than not that all or a portion of a net deferred tax asset will not be realized. The Company had a valuation allowance at December 31, 2017 and March 31, 2018 of $2.5 million on part of the net DTAs. This valuation allowance was initially recorded in 2017 when it was determined that $1.7 million and $645 thousand of federal and state tax credit carryforwards are expected to expire unused as a result of loss usage limitations resulting from the Company experiencing an “ownership change” under Section 382 of the Internal Revenue Code on December 19, 2016 which limits its ability to use pre-ownership change of control net operating losses and certain other pre-ownership change tax attributes against the Company’s post-ownership change income. |
Commitments and Off-Balance-She
Commitments and Off-Balance-Sheet Activities | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Off-Balance-Sheet Activities [Abstract] | |
Commitments and Off-Balance-Sheet Activities | Note 13. Commitments and Off-Balance-Sheet Activities Credit-related financial instruments: The Company’s exposure to credit loss is represented by the contractual amount of these credit-related commitments. The Company follows the same credit policies in making credit-related commitments as it does for on-balance-sheet instruments. As of March 31, 2018 and December 31, 2017, the following credit-related commitments were outstanding: Contract Amount March 31, 2018 December 31, 2017 (In thousands) Unfunded commitments under lines of credit $ 133,162 $ 122,910 Commercial and standby letters of credit 5,277 5,377 Commitments to make loans 15,444 1,909 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for equity lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if deemed necessary by the Bank, is based on management’s credit evaluation of the customer. Unfunded commitments under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. Overdraft protection agreements are uncollateralized, but most other unfunded commitments have collateral. These unfunded lines of credit usually do not contain a specified maturity date and may not necessarily be drawn upon to the total extent to which the Bank is committed. Commitments to make loans are generally made for periods of 90 days or less. The Company had outstanding loan commitments, excluding undisbursed portions of loans in process and equity lines of credit, of approximately $138.4 million as of March 31, 2018 and $128.3 million as of December 31, 2017, respectively. Of these commitments outstanding, the breakdown between fixed rate and adjustable rate loans is as follows: March 31, 2018 December 31, 2017 (In thousands) Fixed rate $ 16,878 $ 17,933 Adjustable rate 121,561 110,354 Total $ 138,439 $ 128,287 The fixed loan commitments as of March 31, 2018 have interest rates ranging from 0.0% to 6.5% and maturities ranging from on demand to 8 years. The FHLB requires a blanket assignment of mortgage loans or other collateral acceptable to the FHLB to secure the Company’s short and long-term borrowings from the FHLB. The value of collateral with the FHLB at March 31, 2018 was $404.7 million. Commercial and standby letters of credit are conditional credit-related commitments issued by the Bank to guarantee the performance of a customer to a third party. Those letters of credit are primarily issued to support public and private borrowing arrangements. Essentially all letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is the same as that involved in extending loans to customers. The Bank generally holds collateral supporting those credit-related commitments, if deemed necessary. In the event the customer does not perform in accordance with the terms of the agreement with the third party, the Bank would be required to fund the credit-related commitment. The maximum potential amount of future payments the Bank could be required to make is represented by the contractual amount shown in the summary above. If the credit-related commitment is funded, the Bank would be entitled to seek recovery from the customer. As of both March 31, 2018 and December 31, 2017, $575 thousand had been recorded as liabilities for the Company’s potential losses under these credit-related commitments. The fair value of these credit-related commitments is approximately equal to the fees collected when granting these letters of credit. These fees collected were $24 thousand and $23 thousand as of March 31, 2018 and December 31, 2017, respectively, and are included in “other liabilities” on the consolidated balance sheets. |
Preferred Equity Issues
Preferred Equity Issues | 3 Months Ended |
Mar. 31, 2018 | |
Preferred Equity Issues [Abstract] | |
Preferred Equity Issues | Note 14. Preferred Equity Issues The Company had no outstanding preferred shares as of March 31, 2018 or December 31, 2017. |
Stock Incentives
Stock Incentives | 3 Months Ended |
Mar. 31, 2018 | |
Stock Incentives [Abstract] | |
Stock Incentives | Note 15. Stock Incentives At the Shareholders' Meeting held on January 22, 2015, the Company's shareholders approved the Trinity Capital Corporation 2015 Long-Term Incentive Plan ("2015 Plan") for the benefit of key employees. As of December 31, 2017, only 30,477 shares of voting common stock remained available for issuance. In accordance with the terms for the 2015 Plan, on February 21, 2018, the Board approved an additional 500,000 shares of common stock to be reserved under the 2015 Plan. The Compensation Committee determines the terms and conditions of the awards. There were 239,075 Restricted Stock Unit ("RSU") awards granted under the 2015 Plan during the quarter ended March 31, 2018 and forfeitures of 6,500 RSUs during the quarter ended March 31, 2018, leaving 297,902 shares of common stock available remaining to be issued under the 2015 Plan at March 31, 2018. Because share-based compensation awards vesting in the current periods were granted on a variety of dates, the assumptions are presented as weighted averages in those assumptions. A summary of RSU activity under the 2015 Plan for the three months ended March 31, 2018 is presented below: Shares Weighted Average Grant Price Weighted-Average Remaining Contractual Term, in Years Aggregate Intrinsic Value (in thousands) RSUs Nonvested as of January 1, 2018 452,782 $ 4.70 2.01 $ 2,130 Granted 239,075 7.58 1.80 1,812 Vested (13,925 ) 4.00 - (56 ) Forfeited or expired (6,500 ) 4.75 - (31 ) Outstanding Nonvested as of March 31, 2018 671,432 $ 5.74 1.66 $ 3,855 Share-based compensation expense of $217 thousand and $16 thousand was recognized for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018, there was $3.4 million in unrecognized compensation costs related to unvested share-based compensation awards granted under the 2015 Plan. The cost will be recognized over the remaining vesting periods. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 16. Fair Value Measurements ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability 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 Company uses valuation techniques that are consistent with the sales comparison approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert expected future amounts, such as cash flows or earnings, to a single present value amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, ASC Topic 820 establishes 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) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s monthly and/or quarterly valuation process. Financial Instruments Recorded at Fair Value on a Recurring Basis Securities Available for Sale. The following table summarizes the Company's financial assets and off-balance-sheet instruments measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: March 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Financial Assets: Investment securities available for sale: U.S. government sponsored agency $ 67,677 $ - $ 67,677 $ - States and political subdivision 160,478 - 160,478 - Residential mortgage backed security 118,111 - 118,111 - Residential collateralized mortgage obligation 18,164 - 18,164 - Commercial mortgage backed security 105,941 - 105,941 - SBA pools 539 - 539 - Total $ 470,910 $ - $ 470,910 $ - December 31, 2017 Total Level 1 Level 2 Level 3 (In thousands) Financial Assets: Investment securities available for sale: U.S. government sponsored agency $ 68,551 $ - $ 68,551 $ - States and political subdivision 158,706 - 158,706 - Residential mortgage backed security 123,083 - 123,083 - Residential collateralized mortgage obligation 9,686 - 9,686 - Commercial mortgage backed security 108,162 - 108,162 - SBA pools 545 - 545 - Total $ 468,733 $ - $ 468,733 $ - There were no financial assets or financial liabilities measured at fair value on a recurring basis for which the Company used significant unobservable inputs (Level 3) during the periods presented in these financial statements. There were no transfers between the levels used on any asset classes during the three months ended March 31, 2018 or the year ended December 31, 2017. Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain financial assets and financial liabilities at fair value on a nonrecurring basis in accordance with GAAP. Impaired Loans. In accordance with ASC Topic 820, impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. Collateral values are estimated using Level 3 inputs based on customized discounting criteria. For collateral dependent impaired loans, the Company obtains a current independent appraisal of loan collateral. Other valuation techniques are used as well, including internal valuations, comparable property analysis and contractual sales information. OREO. As of March 31, 2018, impaired loans with a carrying value of $29.8 million had a valuation allowance of $2.6 million. As of December 31, 2017, impaired loans with a carrying value of $39.8 million had a valuation allowance of $5.2 million recorded during 2017. In the table below, OREO had write-downs during the three months ended March 31, 2018 of $19 thousand. In the table below, OREO had writedowns during the year ended December 31, 2017 of $43 thousand. The valuation adjustments on OREO have been recorded through earnings. Assets measured at fair value on a nonrecurring basis as of March 31, 2018 and December 31, 2017 are included in the table below: Total Level 1 Level 2 Level 3 (In thousands) March 31, 2018 Financial Assets Impaired loans $ 27,267 $ - $ - $ 27,267 Financial Assets OREO 93 - - 93 December 31, 2017 Financial Assets Impaired loans $ 34,600 $ - $ - $ 34,600 Non-Financial Assets OREO 405 - - 405 Assumptions used to determine impaired loans and OREO are presented below by classification, measured at fair value and on a nonrecurring basis as of March 31, 2018 and December 31, 2017: Fair value Valuation Technique(s) Unobservable Input(s) Adjustment Range, Weighted Average March 31, 2018 (In thousands) Impaired loans Commercial $ 13,023 Sales comparison Adjustments for differences of comparable sales (5.70)% to (150.00)%, (6.07)% Commercial real estate 5,275 Sales comparison Adjustments for differences of comparable sales (4.25) to (7.62), (6.07) Residential real estate 5,784 Sales comparison Adjustments for differences of comparable sales (3.13) to (7.50), (5.76) Construction real estate 2,979 Sales comparison Adjustments for differences of comparable sales (4.00) to (7.25), (6.19) Installment and other 206 Sales comparison Adjustments for differences of comparable sales (4.25) to (8.00), (6.24) Total impaired loans $ 27,267 OREO Commercial real estate $ 93 Sales comparison Adjustments for differences of comparable sales (16.67)% to (16.67)%,(16.67)% 93 December 31, 2017 Impaired loans Commercial $ 13,359 Sales comparison Adjustments for differences of comparable sales (5.00)% to (100.00)%, (5.97)% Commercial real estate 10,987 Sales comparison Adjustments for differences of comparable sales (4.25) to (7.62), (6.63) Residential real estate 6,774 Sales comparison Adjustments for differences of comparable sales (3.13) to (7.80), (5.74) Construction real estate 3,244 Sales comparison Adjustments for differences of comparable sales (4.00) to (7.25), (6.18) Installment and other 236 Sales comparison Adjustments for differences of comparable sales (4.25) to (8.00), (6.27) Total impaired loans $ 34,600 OREO Residential real estate 315 Sales comparison Adjustments for differences of comparable sales (9.09) to (9.09), (9.09) Construction real estate 90 Sales comparison Adjustments for differences of comparable sales (9.78) to (9.78), (9.78) Total OREO $ 405 Fair Value Assumptions ASC Topic 825 requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The following methods and assumptions were used by the Company in estimating the fair values (representing exit price) of its other financial instruments: The carrying amount and estimated fair values of other financial instruments as of March 31, 2018 and December 31, 2017 are as follows: Carrying amount Level 1 Level 2 Level 3 Total (In thousands) March 31, 2018 Financial assets: Cash and due from banks $ 10,003 $ 10,003 $ - $ - $ 10,003 Interest-bearing deposits with banks 9,517 9,517 - - 9,517 Investments: Available for sale 470,910 - 470,910 - 470,910 Held to maturity 7,824 - 7,312 - 7,312 Non-marketable equity securities 4,471 N/A N/A N/A N/A Loans, net 694,108 - - 683,069 683,069 Accrued interest receivable on securities 2,726 - 2,726 - 2,726 Accrued interest receivable on loans 2,053 - - 2,053 2,053 Accrued interest receivable other 7 7 7 Off-balance-sheet instruments: Loan commitments and standby letters of credit $ 24 $ - $ 24 $ - $ 24 Financial liabilities: Non-interest bearing deposits $ 163,134 $ 163,134 $ - $ - $ 163,134 Interest bearing deposits 980,960 - 979,054 - 979,054 Long-term borrowings 2,300 - 2,540 - 2,540 Junior subordinated debt 26,764 - - 17,572 17,572 Accrued interest payable 279 - 168 111 279 December 31, 2017 Financial assets: Cash and due from banks $ 12,893 $ 12,983 $ - $ - $ 12,983 Interest-bearing deposits with banks 22,541 22,541 - - 22,541 Securities purchased under resell agreements - - - - - Investments: - - - - - Available for sale 468,733 - 468,733 - 468,733 Held to maturity 7,854 - 7,369 - 7,369 Non-marketable equity securities 3,617 N/A N/A N/A N/A Loans, net 686,341 - - 680,911 680,911 Accrued interest receivable on securities 2,795 - 2,795 - 2,795 Accrued interest receivable on loans 2,238 - - 2,238 2,238 Accrued interest receivable other 21 - - 21 21 Off-balance-sheet instruments: Loan commitments and standby letters of credit $ 23 $ - $ 23 $ - $ 23 Financial liabilities: Non-interest bearing deposits $ 161,677 $ 161,677 $ - $ - $ 161,677 Interest bearing deposits 965,670 - 964,717 - 964,717 Long-term borrowings 2,300 - 2,592 - 2,592 Junior subordinated debt 37,116 - - 27,128 27,128 Accrued interest payable 628 - 172 456 628 |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2018 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | Note 17. Regulatory Matters The ability to pay dividends by any financial institution is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized. The Company is subject to statutory and regulatory restrictions on the payment of dividends and generally cannot pay dividends that exceed its net income or which may weaken its financial health. The Company’s primary source of cash is dividends from the Bank. Generally, the Bank is subject to certain restrictions on dividends that it may declare without prior regulatory approval. The Bank cannot pay dividends in any calendar year that, in the aggregate, exceed the Bank’s year-to-date net income plus its retained income for the two preceding years. Additionally, the Bank cannot pay dividends that are in excess of the amount that would result in the Bank falling below the minimum required for capital adequacy purposes. Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Failure to meet capital requirements can initiate regulatory action. The Basel III Rules became effective for the Company on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. See Item 1 - "Supervision & Regulation" for further discussion regarding the Basel III Rules. The Company and the Bank met all capital adequacy requirements to which they were subject as of March 31, 2018 and December 31, 2017. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. The statutory requirements and actual amounts and ratios for the Company and the Bank are presented below: Actual For Capital Adequacy Purposes To be well capitalized under prompt corrective action provisions Amount Ratio Amount Ratio Amount Ratio March 31, 2018 Total capital (to risk-weighted assets): Consolidated $ 144,143 16.8772 % $ 68,326 8.0000 % N/A N/A Bank only 137,691 16.1420 % 68,240 8.0000 % $ 85,300 10.0000 % Tier 1 capital (to risk weighted assets): Consolidated 133,453 15.6256 % 51,244 6.0000 % N/A N/A Bank only 127,014 14.8903 % 51,180 6.0000 % 68,240 8.0000 % Common Equity Tier 1 Capital (to risk weighted assets): Consolidated 107,453 12.5813 % 38,433 4.5000 % N/A N/A Bank only 127,014 14.8903 % 38,385 4.5000 % 55,445 6.5000 % Tier 1 leverage (to average assets): Consolidated 133,453 10.4275 % 51,193 4.0000 % N/A N/A Bank only 127,014 9.9331 % 51,148 4.0000 % 63,935 5.0000 % N/A—not applicable Actual For Capital Adequacy Purposes To be well capitalized under prompt corrective action provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2017 Total capital (to risk-weighted assets): Consolidated $ 152,076 18.1982 % $ 66,853 8.0000 % N/A N/A Bank only 134,959 16.1823 % 66,720 8.0000 % $ 83,399 10.0000 % Tier 1 capital (to risk weighted assets): Consolidated 132,900 15.9035 % 50,140 6.0000 % N/A N/A Bank only 124,481 14.9259 % 50,040 6.0000 % 66,720 8.0000 % Common Equity Tier 1 Capital (to risk weighted assets): Consolidated 106,320 12.7228 % 37,605 4.5000 % N/A N/A Bank only 124,481 14.9259 % 37,530 4.5000 % 54,210 6.5000 % Tier 1 leverage (to average assets): Consolidated 132,900 10.1821 % 33,427 4.0000 % N/A N/A Bank only 124,481 9.6006 % 33,360 4.0000 % 41,700 5.0000 % N/A - not applicable The Bank’s capital ratios fall into the category of “well-capitalized” as of March 31, 2018 and December 31, 2017. Trinity and the Bank are also required to maintain a “capital conservation buffer” of 2.5% above the regulatory minimum risk-based capital requirements. The purpose of the conservation buffer is to ensure that banks maintain a buffer of capital that can be used to absorb losses during periods of financial and economic stress. The capital conservation buffer began to be phased in beginning in January 2016 at 0.625% of risk-weighted assets and will increase by that amount each year until fully implemented in January 2019. An institution would be subject to limitations on certain activities, including payment of dividends, share repurchases and discretionary bonuses to executive officers, if its capital level is below the buffered ratio. Factoring in the fully phased-in conservation buffer increases the minimum ratios described above to 7.0% for Common Equity Tier 1, 8.5% for Tier 1 Capital and 10.5% for Total Capital. At March 31, 2018 the Bank's capital conservation buffer was 8.1420% and the consolidated capital conservation buffer was 8.0813%. At December 31, 2017 the Bank's capital conservation buffer was 8.1823% and the consolidated capital conservation buffer was 8.2228%. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Basis of Presentation [Abstract] | |
Consolidation | Consolidation: "Consolidation." |
Basis of presentation | Basis of presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for financial information and with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis, and all such adjustments are of a normal recurring nature. These financial statements and the notes thereto should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (the "2017 Form 10-K"). Operating results for the three-month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 or any other period. |
Reclassifications | Reclassifications |
Earnings (Loss) Per Share Data
Earnings (Loss) Per Share Data (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings (Loss) Per Share Data [Abstract] | |
Calculation of basic and diluted earnings (loss) per share | The average number of shares used in calculating basic and diluted earnings (loss) per common share were as follows for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 (In thousands, except share and per share data) Net income (loss) $ 1,692 $ (486 ) Dividends and discount accretion on preferred shares - 770 Net income (loss) available to common shareholders $ 1,692 $ (1,256 ) Weighted average common shares issued 19,665,543 13,017,045 LESS: Weighted average treasury stock shares - - Weighted average common shares outstanding, net 19,665,543 13,017,045 Basic income (loss) per common share $ 0.09 $ (0.10 ) Dilutive effect of stock-based compensation 45,133 - Weighted average common shares outstanding including dilutive shares 19,710,676 13,017,045 Diluted income (loss) per common share $ 0.09 $ (0.10 ) |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Investment Securities [Abstract] | |
Amortized cost and fair values of investment securities | Amortized cost and fair values of investment securities are summarized as follows: Securities Available for Sale: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) March 31, 2018 U.S. government sponsored agencies $ 69,310 $ - $ (1,633 ) $ 67,677 State and political subdivisions 163,991 177 (3,690 ) 160,478 Residential mortgage backed securities 120,195 2 (2,086 ) 118,111 Residential collateralized mortgage obligations 18,294 50 (180 ) 18,164 Commercial mortgage backed securities 110,244 - (4,303 ) 105,941 SBA pools 554 - (15 ) 539 Totals $ 482,588 $ 229 $ (11,907 ) $ 470,910 December 31, 2017 U.S. government sponsored agencies $ 69,315 $ - $ (764 ) $ 68,551 State and political subdivisions 157,652 1,306 (252 ) 158,706 Residential mortgage backed securities 124,578 98 (1,593 ) 123,083 Residential collateralized mortgage obligations 9,715 51 (80 ) 9,686 Commercial mortgage backed securities 110,483 67 (2,388 ) 108,162 SBA pools 560 - (15 ) 545 Totals $ 472,303 $ 1,522 $ (5,092 ) $ 468,733 Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) March 31, 2018 SBA pools $ 7,824 $ - $ (512 ) $ 7,312 Totals $ 7,824 $ - $ (512 ) $ 7,312 December 31, 2017 SBA pools $ 7,854 $ - $ (485 ) $ 7,369 Totals $ 7,854 $ - $ (485 ) $ 7,369 |
Unrealized loss information for investment securities | A summary of unrealized loss information for investment securities, categorized by security type, as of March 31, 2018 and December 31, 2017 was as follows: Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Securities Available for Sale: March 31, 2018 U.S. government sponsored agencies $ 48,412 $ (979 ) $ 19,265 $ (654 ) $ 67,677 $ (1,633 ) State and political subdivisions 115,741 (2,913 ) 24,041 (777 ) 139,782 (3,690 ) Residential mortgage backed securities 37,193 (512 ) 82,865 (1,574 ) 120,058 (2,086 ) Residential collateralized mortgage obligations 12,521 (156 ) 4,271 (24 ) 16,792 (180 ) Commercial mortgage backed securities 24,331 (536 ) 79,377 (3,767 ) 103,708 (4,303 ) SBA pools - - 539 (15 ) 539 (15 ) Totals $ 238,198 $ (5,096 ) $ 210,358 $ (6,811 ) $ 448,556 $ (11,907 ) December 31, 2017 U.S. government sponsored agencies $ 49,070 $ (331 ) $ 19,481 $ (433 ) $ 68,551 $ (764 ) State and political subdivisions 23,217 (95 ) 24,774 (157 ) 47,991 (252 ) Residential mortgage backed securities 18,771 (199 ) 88,100 (1,394 ) 106,871 (1,593 ) Residential collateralized mortgage obligations 4,761 (67 ) 3,502 (13 ) 8,263 (80 ) Commercial mortgage backed securities 6,961 (94 ) 81,042 (2,294 ) 88,003 (2,388 ) SBA pools - - 545 (15 ) 545 (15 ) Totals $ 102,780 $ (786 ) $ 217,444 $ (4,306 ) $ 320,224 $ (5,092 ) Securities Held to Maturity: March 31, 2018 SBA pools $ - $ - $ 7,312 $ (512 ) $ 7,312 $ (512 ) Totals $ - $ - $ 7,312 $ (512 ) $ 7,312 $ (512 ) December 31, 2017 SBA pools $ - $ - $ 7,369 $ (485 ) $ 7,369 $ (485 ) Totals $ - $ - $ 7,369 $ (485 ) $ 7,369 $ (485 ) |
Amortized cost and fair value of investment securities, by contractual maturity | The amortized cost and fair value of investment securities, as of March 31, 2018, by contractual maturity are shown below. Maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available for Sale Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) One year or less $ 201 $ 200 $ - $ - One to five years 65,540 64,008 - - Five to ten years 6,578 6,487 - - Over ten years 161,536 157,999 7,824 7,312 Subtotal 233,855 228,694 7,824 7,312 Residential mortgage backed security 120,195 118,111 - - Residential collateralized mortgage obligation 18,294 18,164 - - Commercial mortgage backed security 110,244 105,941 Total $ 482,588 $ 470,910 $ 7,824 $ 7,312 |
Loans and Allowance for Loan 28
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Loans and Allowance for Loan Losses [Abstract] | |
Components of loans | As of March 31, 2018 and December 31, 2017, loans consisted of: March 31, 2018 December 31, 2017 (In thousands) Commercial $ 67,557 $ 61,388 Commercial real estate 384,247 378,802 Residential real estate 169,559 178,296 Construction real estate 68,002 63,569 Installment and other 16,794 18,952 Total loans 706,159 701,007 Unearned income (813 ) (863 ) Gross loans 705,346 700,144 Allowance for loan losses (11,238 ) (13,803 ) Net loans $ 694,108 $ 686,341 |
Contractual aging of the recorded investment in current and past due loans by class of loans | The following table presents the contractual aging of the recorded investment in current and past due loans by class of loans as of March 31, 2018 and December 31, 2017, including nonaccrual loans: Current 30-59 Days Past Due 60-89 Days Past Due Loans past due 90 days or more Total Past Due Total March 31, 2018 (In thousands) Commercial $ 67,214 $ 318 $ 25 $ - $ 343 $ 67,557 Commercial real estate 380,993 1,292 - 1,962 3,254 384,247 Residential real estate 166,462 1,314 387 1,396 3,097 169,559 Construction real estate 64,114 338 - 3,550 3,888 68,002 Installment and other 16,673 29 - 92 121 16,794 Total loans $ 695,456 $ 3,291 $ 412 $ 7,000 $ 10,703 $ 706,159 Nonaccrual loan classification, included above $ 4,729 $ 484 $ 412 $ 7,000 $ 7,896 $ 12,625 December 31, 2017 Commercial $ 59,703 $ 173 $ 1,475 $ 37 $ 1,685 $ 61,388 Commercial real estate 371,640 5,490 - 1,672 7,162 378,802 Residential real estate 174,388 1,899 - 2,009 3,908 178,296 Construction real estate 59,291 423 74 3,781 4,278 63,569 Installment and other 18,705 80 81 86 247 18,952 Total loans $ 683,727 $ 8,065 $ 1,630 $ 7,585 $ 17,280 $ 701,007 Nonaccrual loan classification, included above $ 3,858 $ 5,859 $ 38 $ 7,585 $ 13,482 $ 17,340 The following table presents the recorded investment in nonaccrual loans and loans past due 90 days or more and still accruing interest by class of loans as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Nonaccrual Loans past due 90 days or more and still accruing interest Nonaccrual Loans past due 90 days or more and still accruing interest (In thousands) Commercial $ 58 $ - $ 102 $ - Commercial real estate 5,056 - 8,617 - Residential real estate 3,774 - 4,599 - Construction real estate 3,645 - 3,911 - Installment and other 92 - 111 - Total $ 12,625 $ - $ 17,340 $ - |
Risk category of loans by class of loans | Loans not meeting the criteria above that are analyzed individually are considered to be pass-rated loans. The following table presents the risk category by class of loans based on the most recent analysis performed as of March 31, 2018 and December 31, 2017: Pass Special Mention Substandard Doubtful Total March 31, 2018 (In thousands) Commercial $ 64,757 $ 225 $ 2,575 $ - $ 67,557 Commercial real estate 369,163 4,507 10,577 - 384,247 Residential real estate 164,280 - 5,279 - 169,559 Construction real estate 61,717 898 5,387 - 68,002 Installment and other 16,386 - 408 - 16,794 Total $ 676,303 $ 5,630 $ 24,226 $ - $ 706,159 December 31, 2017 Commercial $ 58,769 $ 2 $ 2,617 $ - $ 61,388 Commercial real estate 359,768 4,762 14,272 - 378,802 Residential real estate 172,101 - 6,195 - 178,296 Construction real estate 56,661 917 5,991 - 63,569 Installment and other 18,523 - 429 - 18,952 Total $ 665,822 $ 5,681 $ 29,504 $ - $ 701,007 The following table shows all loans, including nonaccrual loans, by risk category and aging as of March 31, 2018 and December 31, 2017: Pass Special Mention Substandard Doubtful Total March 31, 2018 (In thousands) Current $ 673,557 $ 5,630 $ 16,269 $ - $ 695,456 Past due 30-59 days 2,746 - 545 - 3,291 Past due 60-89 days - - 412 - 412 Past due 90 days or more - - 7,000 - 7,000 Total $ 676,303 $ 5,630 $ 24,226 $ - $ 706,159 December 31, 2017 (In thousands) Current $ 662,445 $ 5,681 $ 15,601 $ - $ 683,727 Past due 30-59 days 1,785 - 6,280 - 8,065 Past due 60-89 days 1,592 - 38 - 1,630 Past due 90 days or more - - 7,585 - 7,585 Total $ 665,822 $ 5,681 $ 29,504 $ - $ 701,007 |
Loans and average loans individually evaluated for impairment by class of loans | The following table presents loans individually evaluated for impairment by class of loans as of March 31, 2018 and December 31, 2017, showing the unpaid principal balance, the recorded investment of the loan (reflecting any loans with partial charge-offs), and the amount of allowance for loan losses specifically allocated for these impaired loans (if any): March 31, 2018 December 31, 2017 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated (In thousands) With no related allowance recorded: Commercial $ 99 $ 96 $ 184 $ 182 Commercial real estate 8,014 5,056 4,294 4,154 Residential real estate 5,809 5,012 6,585 5,808 Construction real estate 6,804 5,429 7,471 6,049 Installment and other 309 308 349 348 With an allowance recorded: Commercial 13,267 13,266 $ 243 13,361 13,359 $ 211 Commercial real estate 6,474 6,474 1,199 10,987 10,987 3,735 Residential real estate 6,641 6,641 857 6,774 6,774 943 Construction real estate 3,206 3,206 227 3,244 3,244 231 Installment and other 243 243 37 236 236 32 Total $ 50,866 $ 45,731 $ 2,563 $ 53,485 $ 51,141 $ 5,152 The following table presents loans individually evaluated for impairment by class of loans for the three months ended March 31, 2018 and 2017, showing the average recorded investment and the interest income recognized: Three Months Ended March 31, 2018 March 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial $ 139 $ 1 $ 1,989 $ 14 Commercial real estate 4,605 - 5,035 10 Residential real estate 5,410 15 4,459 22 Construction real estate 5,739 22 6,982 88 Installment and other 328 3 308 3 With an allowance recorded: Commercial 13,313 187 13,935 186 Commercial real estate 8,730 70 6,353 67 Residential real estate 6,708 75 8,343 81 Construction real estate 3,225 42 4,209 40 Installment and other 239 2 405 3 Total $ 48,436 $ 417 $ 52,018 $ 514 |
Activity and allocation of allowance for loan losses | For the three months ended March 31, 2018 and 2017, activity in the allowance for loan losses was as follows: Commercial Commercial real estate Residential real estate Construction real estate Installment and other Unallocated Total (In thousands) Three Months Ended March 31, 2018: Beginning balance $ 536 $ 8,573 $ 2,843 $ 1,030 $ 315 $ 506 $ 13,803 Provision (benefit) for loan losses 46 1,046 (323 ) (53 ) (95 ) (401 ) 220 Charge-offs (9 ) (2,736 ) (105 ) (112 ) (28 ) - (2,990 ) Recoveries 24 22 47 49 63 - 205 Net charge-offs 15 (2,714 ) (58 ) (63 ) 35 - (2,785 ) Ending balance $ 597 $ 6,905 $ 2,462 $ 914 $ 255 $ 105 $ 11,238 Three Months Ended March 31, 2017: Beginning balance $ 1,449 $ 6,472 $ 4,524 $ 1,119 $ 715 $ 73 $ 14,352 Provision (benefit) for loan losses 320 13 (209 ) (27 ) 4 (71 ) 30 Charge-offs (186 ) - (244 ) (16 ) (137 ) - (583 ) Recoveries 173 88 55 10 62 - 388 Net charge-offs (13 ) 88 (189 ) (6 ) (75 ) - (195 ) Ending balance $ 1,756 $ 6,573 $ 4,126 $ 1,086 $ 644 $ 2 $ 14,187 Allocation of the allowance for loan losses (as well as the total loans in each allocation method), disaggregated on the basis of the Company’s impairment methodology, is as follows: Commercial Commercial real estate Residential real estate Construction real estate Installment and other Unallocated Total March 31, 2018 (In thousands) Allowance for loan losses allocated to: Loans individually evaluated for impairment $ 243 $ 1,199 $ 857 $ 227 $ 37 $ - $ 2,563 Loans collectively evaluated for impairment 354 5,706 1,605 687 218 105 8,675 Ending balance $ 597 $ 6,905 $ 2,462 $ 914 $ 255 $ 105 $ 11,238 Loans: Individually evaluated for impairment $ 13,362 $ 11,530 $ 11,653 $ 8,635 $ 551 $ - $ 45,731 Collectively evaluated for impairment 54,195 372,717 157,906 59,367 16,243 - 660,428 Total ending loans balance $ 67,557 $ 384,247 $ 169,559 $ 68,002 $ 16,794 $ - $ 706,159 December 31, 2017 Allowance for loan losses allocated to: Loans individually evaluated for impairment $ 211 $ 3,735 $ 943 $ 231 $ 32 $ - $ 5,152 Loans collectively evaluated for impairment 325 4,838 1,900 799 283 506 8,651 Ending balance $ 536 $ 8,573 $ 2,843 $ 1,030 $ 315 $ 506 $ 13,803 Loans: Individually evaluated for impairment $ 13,541 $ 15,141 $ 12,582 $ 9,293 $ 584 $ - $ 51,141 Collectively evaluated for impairment 47,847 363,661 165,714 54,276 18,368 - 649,866 Total ending loans balance $ 61,388 $ 378,802 $ 178,296 $ 63,569 $ 18,952 $ - $ 701,007 |
Troubled debt restructurings on financing receivables | The following table presents loans restructured as TDRs during the three months ended March 31, 2018 and 2017, respectively. Three Months Ended March 31, 2018 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Commercial 1 $ 171 $ 171 $ 1 Commercial real estate 2 2,356 2,356 - Total 3 $ 2,527 $ 2,527 $ 1 Three Months ended March 31, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Construction real estate 1 $ 10 $ 10 $ - Total 1 $ 10 $ 10 $ - The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 Number of Contracts Pre- Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Commercial 1 $ 25 $ 25 Total 1 $ 25 $ 25 Three Months Ended March 31, 2017 Number of Contracts Pre- Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Construction real estate 1 $ 61 $ - Total 1 $ 61 $ - |
Total TDRs in accrual and nonaccrual status | The following table presents total TDRs, both in accrual and nonaccrual status as of the periods indicated: March 31, 2018 December 31, 2017 Number of contracts Amount Number of contracts Amount (Dollars in thousands) Accrual $ 104 $ 32,934 $ 108 $ 33,801 Nonaccrual 17 6,844 19 5,146 Total $ 121 $ 39,778 $ 127 $ 38,947 |
Related parties loan | An analysis of the activity related to these loans as of March 31, 2018 and December 31, 2017 is as follows: March 31, 2018 December 31, 2017 (In thousands) Balance, beginning $ 198 $ 348 Additions - 13 Changes in Board composition - (76 ) Principal payments and other reductions (24 ) (87 ) Balance, ending $ 174 $ 198 |
Other Real Estate Owned ("ORE29
Other Real Estate Owned ("OREO") (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Real Estate Owned ("OREO") [Abstract] | |
Other real estate owned | OREO consists of property acquired due to foreclosure on real estate loans. As of March 31, 2018 and December 31, 2017, total OREO consisted of: March 31, 2018 December 31, 2017 (In thousands) Commercial real estate $ 1,649 $ 1,667 Residential real estate 1,051 886 Construction real estate 3,749 3,879 Total $ 6,449 $ 6,432 |
Summary of OREO activity | The following table presents a summary of OREO activity for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 (In thousands) Balance at beginning of period $ 6,432 $ 8,436 Transfers in at fair value 473 433 Capitalized improvements 32 - Write-down of value (18 ) (82 ) Gain on disposal 39 321 Cash received upon disposition (509 ) (1,117 ) Sales financed by loans - - Balance at end of period $ 6,449 $ 7,991 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Deposits [Abstract] | |
Deposits | As of March 31, 2018 and December 31, 2017, deposits consisted of: March 31, 2018 December 31, 2017 (In thousands ) Demand deposits, noninterest bearing $ 163,134 $ 161,677 NOW and money market accounts 428,436 404,225 Savings deposits 388,901 388,300 Time certificates, $250,000 or more 21,339 21,639 Other time certificates 142,284 151,506 Total $ 1,144,094 $ 1,127,347 |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Borrowings [Abstract] | |
Schedule of borrowings | The following table details borrowings as of March 31, 2018 and December 31, 2017. Maturity Date Rate Type Principal due March 31, 2018 December 31, 2017 (In thousands) April 27, 2021 6.343 % Fixed At maturity 2,300 2,300 Total $ 2,300 $ 2,300 |
Junior Subordinated Debt (Table
Junior Subordinated Debt (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Junior Subordinated Debt [Abstract] | |
Junior subordinated debt owed to unconsolidated trust | The following table presents details on the junior subordinated debt as of March 31, 2018: Trust I Trust III Trust IV Trust V (Dollars in thousands) Date of Issue March 23, 2000 May 11, 2004 June 29, 2005 September 21, 2006 Amount of trust preferred securities issued $ 10,000 $ 6,000 $ 10,000 $ 10,000 Rate on trust preferred securities 10.875 % 4.70625% (variable) 6.88 % 3.7745% (variable) Maturity March 8, 2030 September 8, 2034 November 23, 2035 December 15, 2036 Date of first redemption March 8, 2010 September 8, 2009 August 23, 2010 September 15, 2011 Common equity securities issued $ 310 $ 186 $ 310 $ 310 Junior subordinated deferrable interest debentures owed $ - $ 6,186 $ 10,310 $ 10,310 Rate on junior subordinated deferrable interest debentures 10.875 % 4.70625% (variable) 6.88 % 3.7745% (variable) |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Income Taxes [Abstract] | |
Federal statutory tax rate and effective tax rate reconciliation | Items causing differences between the Federal statutory tax rate and the effective tax rate are summarized as follows: Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 Amount Rate Amount Rate (Dollars in thousands) Federal statutory tax rate $ 396 21.00 % $ (238 ) 34.00 % State income tax, net of federal benefit 61 3.23 % 155 (22.22 )% Net tax exempt interest income (211 ) (11.18 )% (91 ) 13.08 % Other, net (53 ) (2.81 )% (40 ) 5.68 % Tax provision (benefit) before change in valuation allowance 193 10.24 % (214 ) 30.54 % Change in valuation allowance - - - - Provision (benefit) for income taxes $ 193 10.24 % $ (214 ) 30.54 % |
Commitments and Off-Balance-S34
Commitments and Off-Balance-Sheet Activities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Off-Balance-Sheet Activities [Abstract] | |
Credit-related commitments | As of March 31, 2018 and December 31, 2017, the following credit-related commitments were outstanding: Contract Amount March 31, 2018 December 31, 2017 (In thousands) Unfunded commitments under lines of credit $ 133,162 $ 122,910 Commercial and standby letters of credit 5,277 5,377 Commitments to make loans 15,444 1,909 |
Commitments outstanding, breakdown between fixed-and adjustable-rate loans | Of these commitments outstanding, the breakdown between fixed rate and adjustable rate loans is as follows: March 31, 2018 December 31, 2017 (In thousands) Fixed rate $ 16,878 $ 17,933 Adjustable rate 121,561 110,354 Total $ 138,439 $ 128,287 |
Stock Incentives (Tables)
Stock Incentives (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Stock Incentives [Abstract] | |
Summary of changes in RSUs and performance-based restricted stock units | A summary of RSU activity under the 2015 Plan for the three months ended March 31, 2018 is presented below: Shares Weighted Average Grant Price Weighted-Average Remaining Contractual Term, in Years Aggregate Intrinsic Value (in thousands) RSUs Nonvested as of January 1, 2018 452,782 $ 4.70 2.01 $ 2,130 Granted 239,075 7.58 1.80 1,812 Vested (13,925 ) 4.00 - (56 ) Forfeited or expired (6,500 ) 4.75 - (31 ) Outstanding Nonvested as of March 31, 2018 671,432 $ 5.74 1.66 $ 3,855 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Measurements [Abstract] | |
Financial assets and off-balance-sheet instruments measured at fair value on a recurring basis | The following table summarizes the Company's financial assets and off-balance-sheet instruments measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: March 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Financial Assets: Investment securities available for sale: U.S. government sponsored agency $ 67,677 $ - $ 67,677 $ - States and political subdivision 160,478 - 160,478 - Residential mortgage backed security 118,111 - 118,111 - Residential collateralized mortgage obligation 18,164 - 18,164 - Commercial mortgage backed security 105,941 - 105,941 - SBA pools 539 - 539 - Total $ 470,910 $ - $ 470,910 $ - December 31, 2017 Total Level 1 Level 2 Level 3 (In thousands) Financial Assets: Investment securities available for sale: U.S. government sponsored agency $ 68,551 $ - $ 68,551 $ - States and political subdivision 158,706 - 158,706 - Residential mortgage backed security 123,083 - 123,083 - Residential collateralized mortgage obligation 9,686 - 9,686 - Commercial mortgage backed security 108,162 - 108,162 - SBA pools 545 - 545 - Total $ 468,733 $ - $ 468,733 $ - |
Assets measured at fair value on a nonrecurring basis | Assets measured at fair value on a nonrecurring basis as of March 31, 2018 and December 31, 2017 are included in the table below: Total Level 1 Level 2 Level 3 (In thousands) March 31, 2018 Financial Assets Impaired loans $ 27,267 $ - $ - $ 27,267 Financial Assets OREO 93 - - 93 December 31, 2017 Financial Assets Impaired loans $ 34,600 $ - $ - $ 34,600 Non-Financial Assets OREO 405 - - 405 |
Valuation assumptions used on impaired loans and OREO on a nonrecurring basis at fair value | Assumptions used to determine impaired loans and OREO are presented below by classification, measured at fair value and on a nonrecurring basis as of March 31, 2018 and December 31, 2017: Fair value Valuation Technique(s) Unobservable Input(s) Adjustment Range, Weighted Average March 31, 2018 (In thousands) Impaired loans Commercial $ 13,023 Sales comparison Adjustments for differences of comparable sales (5.70)% to (150.00)%, (6.07)% Commercial real estate 5,275 Sales comparison Adjustments for differences of comparable sales (4.25) to (7.62), (6.07) Residential real estate 5,784 Sales comparison Adjustments for differences of comparable sales (3.13) to (7.50), (5.76) Construction real estate 2,979 Sales comparison Adjustments for differences of comparable sales (4.00) to (7.25), (6.19) Installment and other 206 Sales comparison Adjustments for differences of comparable sales (4.25) to (8.00), (6.24) Total impaired loans $ 27,267 OREO Commercial real estate $ 93 Sales comparison Adjustments for differences of comparable sales (16.67)% to (16.67)%,(16.67)% 93 December 31, 2017 Impaired loans Commercial $ 13,359 Sales comparison Adjustments for differences of comparable sales (5.00)% to (100.00)%, (5.97)% Commercial real estate 10,987 Sales comparison Adjustments for differences of comparable sales (4.25) to (7.62), (6.63) Residential real estate 6,774 Sales comparison Adjustments for differences of comparable sales (3.13) to (7.80), (5.74) Construction real estate 3,244 Sales comparison Adjustments for differences of comparable sales (4.00) to (7.25), (6.18) Installment and other 236 Sales comparison Adjustments for differences of comparable sales (4.25) to (8.00), (6.27) Total impaired loans $ 34,600 OREO Residential real estate 315 Sales comparison Adjustments for differences of comparable sales (9.09) to (9.09), (9.09) Construction real estate 90 Sales comparison Adjustments for differences of comparable sales (9.78) to (9.78), (9.78) Total OREO $ 405 |
Carrying amount and estimated fair values of financial instruments | Carrying amount Level 1 Level 2 Level 3 Total (In thousands) March 31, 2018 Financial assets: Cash and due from banks $ 10,003 $ 10,003 $ - $ - $ 10,003 Interest-bearing deposits with banks 9,517 9,517 - - 9,517 Investments: Available for sale 470,910 - 470,910 - 470,910 Held to maturity 7,824 - 7,312 - 7,312 Non-marketable equity securities 4,471 N/A N/A N/A N/A Loans, net 694,108 - - 683,069 683,069 Accrued interest receivable on securities 2,726 - 2,726 - 2,726 Accrued interest receivable on loans 2,053 - - 2,053 2,053 Accrued interest receivable other 7 7 7 Off-balance-sheet instruments: Loan commitments and standby letters of credit $ 24 $ - $ 24 $ - $ 24 Financial liabilities: Non-interest bearing deposits $ 163,134 $ 163,134 $ - $ - $ 163,134 Interest bearing deposits 980,960 - 979,054 - 979,054 Long-term borrowings 2,300 - 2,540 - 2,540 Junior subordinated debt 26,764 - - 17,572 17,572 Accrued interest payable 279 - 168 111 279 December 31, 2017 Financial assets: Cash and due from banks $ 12,893 $ 12,983 $ - $ - $ 12,983 Interest-bearing deposits with banks 22,541 22,541 - - 22,541 Securities purchased under resell agreements - - - - - Investments: - - - - - Available for sale 468,733 - 468,733 - 468,733 Held to maturity 7,854 - 7,369 - 7,369 Non-marketable equity securities 3,617 N/A N/A N/A N/A Loans, net 686,341 - - 680,911 680,911 Accrued interest receivable on securities 2,795 - 2,795 - 2,795 Accrued interest receivable on loans 2,238 - - 2,238 2,238 Accrued interest receivable other 21 - - 21 21 Off-balance-sheet instruments: Loan commitments and standby letters of credit $ 23 $ - $ 23 $ - $ 23 Financial liabilities: Non-interest bearing deposits $ 161,677 $ 161,677 $ - $ - $ 161,677 Interest bearing deposits 965,670 - 964,717 - 964,717 Long-term borrowings 2,300 - 2,592 - 2,592 Junior subordinated debt 37,116 - - 27,128 27,128 Accrued interest payable 628 - 172 456 628 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Regulatory Matters [Abstract] | |
Summary of required and actual amounts and ratios for the entity and the Bank | The statutory requirements and actual amounts and ratios for the Company and the Bank are presented below: Actual For Capital Adequacy Purposes To be well capitalized under prompt corrective action provisions Amount Ratio Amount Ratio Amount Ratio March 31, 2018 Total capital (to risk-weighted assets): Consolidated $ 144,143 16.8772 % $ 68,326 8.0000 % N/A N/A Bank only 137,691 16.1420 % 68,240 8.0000 % $ 85,300 10.0000 % Tier 1 capital (to risk weighted assets): Consolidated 133,453 15.6256 % 51,244 6.0000 % N/A N/A Bank only 127,014 14.8903 % 51,180 6.0000 % 68,240 8.0000 % Common Equity Tier 1 Capital (to risk weighted assets): Consolidated 107,453 12.5813 % 38,433 4.5000 % N/A N/A Bank only 127,014 14.8903 % 38,385 4.5000 % 55,445 6.5000 % Tier 1 leverage (to average assets): Consolidated 133,453 10.4275 % 51,193 4.0000 % N/A N/A Bank only 127,014 9.9331 % 51,148 4.0000 % 63,935 5.0000 % N/A—not applicable Actual For Capital Adequacy Purposes To be well capitalized under prompt corrective action provisions Amount Ratio Amount Ratio Amount Ratio December 31, 2017 Total capital (to risk-weighted assets): Consolidated $ 152,076 18.1982 % $ 66,853 8.0000 % N/A N/A Bank only 134,959 16.1823 % 66,720 8.0000 % $ 83,399 10.0000 % Tier 1 capital (to risk weighted assets): Consolidated 132,900 15.9035 % 50,140 6.0000 % N/A N/A Bank only 124,481 14.9259 % 50,040 6.0000 % 66,720 8.0000 % Common Equity Tier 1 Capital (to risk weighted assets): Consolidated 106,320 12.7228 % 37,605 4.5000 % N/A N/A Bank only 124,481 14.9259 % 37,530 4.5000 % 54,210 6.5000 % Tier 1 leverage (to average assets): Consolidated 132,900 10.1821 % 33,427 4.0000 % N/A N/A Bank only 124,481 9.6006 % 33,360 4.0000 % 41,700 5.0000 % N/A - not applicable |
Earnings (Loss) Per Share Dat38
Earnings (Loss) Per Share Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Computation of basic and diluted earnings (loss) per share [Abstract] | ||
Net income (loss) | $ 1,692 | $ (486) |
Dividends and discount accretion on preferred shares | 0 | 770 |
Net income (loss) available to common shareholders | $ 1,692 | $ (1,256) |
Weighted average common shares issued (in shares) | 19,665,543 | 13,017,045 |
LESS: Weighted average treasury stock shares (in shares) | 0 | 0 |
Weighted average common shares outstanding, net (in shares) | 19,665,543 | 13,017,045 |
Basic income (loss) per common share (in dollars per share) | $ 0.09 | $ (0.10) |
Dilutive effect of stock-based compensation (in shares) | 45,133 | 0 |
Weighted average common shares outstanding including dilutive shares (in shares) | 19,710,676 | 13,017,045 |
Diluted income (loss) per common share (in dollars per share) | $ 0.09 | $ (0.10) |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Number of shares excluded computation of earnings per share (in shares) | 0 | 33,000 |
Restrictions on Cash and Due 39
Restrictions on Cash and Due From Banks (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Restrictions on Cash and Due From Banks [Abstract] | ||
Reserve balances in cash or on deposit with Federal Reserve Bank | $ 0 | $ 0 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Securities Available for Sale [Abstract] | ||
Amortized Cost | $ 482,588 | $ 472,303 |
Gross Unrealized Gains | 229 | 1,522 |
Gross Unrealized Losses | (11,907) | (5,092) |
Fair Value | 470,910 | 468,733 |
Securities Held-to-maturity [Abstract] | ||
Amortized Cost | 7,824 | 7,854 |
Gross Unrecognized Gains | 0 | 0 |
Gross Unrecognized Losses | (512) | (485) |
Fair Value | 7,312 | 7,369 |
U.S. Government Sponsored Agencies [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 69,310 | 69,315 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (1,633) | (764) |
Fair Value | 67,677 | 68,551 |
State and Political Subdivisions [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 163,991 | 157,652 |
Gross Unrealized Gains | 177 | 1,306 |
Gross Unrealized Losses | (3,690) | (252) |
Fair Value | 160,478 | 158,706 |
Residential Mortgage-Backed Securities [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 120,195 | 124,578 |
Gross Unrealized Gains | 2 | 98 |
Gross Unrealized Losses | (2,086) | (1,593) |
Fair Value | 118,111 | 123,083 |
Residential Collateralized Mortgage Obligations [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 18,294 | 9,715 |
Gross Unrealized Gains | 50 | 51 |
Gross Unrealized Losses | (180) | (80) |
Fair Value | 18,164 | 9,686 |
Commercial Mortgage Backed Securities [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 110,244 | 110,483 |
Gross Unrealized Gains | 0 | 67 |
Gross Unrealized Losses | (4,303) | (2,388) |
Fair Value | 105,941 | 108,162 |
SBA Pools [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 554 | 560 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (15) | (15) |
Fair Value | 539 | 545 |
SBA Pools [Member] | ||
Securities Held-to-maturity [Abstract] | ||
Amortized Cost | 7,824 | 7,854 |
Gross Unrecognized Gains | 0 | 0 |
Gross Unrecognized Losses | (512) | (485) |
Fair Value | $ 7,312 | $ 7,369 |
Investment Securities, Realized
Investment Securities, Realized Net Gains (Losses) on Sale of Securities Available for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Realized net gains (losses) on sale of securities available for sale [Abstract] | ||
Realized net gains or losses on sale and call of securities available for sale | $ 0 | $ 0 |
Investment Securities, Unrealiz
Investment Securities, Unrealized Loss Information for Investment Securities (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018USD ($)Security | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Investment Securities [Abstract] | |||
Tax benefit (provision) related to net realized gains and losses on sale and call of securities available for sale | $ 0 | $ 0 | |
Securities Available for Sale [Abstract] | |||
Less than 12 Months, Fair Value | 238,198 | $ 102,780 | |
Less than 12 Months, Unrealized Losses | (5,096) | (786) | |
12 Months or Longer, Fair Value | 210,358 | 217,444 | |
12 Months or Longer, Unrealized Losses | (6,811) | (4,306) | |
Total, Fair Value | 448,556 | 320,224 | |
Total, Unrealized Losses | (11,907) | (5,092) | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Less than 12 Months, Fair Value | 0 | 0 | |
Less than 12 Months, Unrealized Losses | 0 | 0 | |
12 Months or Longer, Fair Value | 7,312 | 7,369 | |
12 Months or Longer, Unrealized Losses | (512) | (485) | |
Total, Fair Value | 7,312 | 7,369 | |
Total, Unrealized Losses | $ (512) | (485) | |
Number of securities - total | Security | 156 | ||
Number of securities in unrealized loss position | Security | 133 | ||
Unrealized losses on debt securities | $ 468,300 | ||
Percentage of aggregate depreciation of amortized cost basis | 2.58% | ||
Investment securities continuous unrealized loss position twelve months or longer, fair value | $ 225,000 | ||
Percentage of aggregate depreciation related to continuous unrealized loss position twelve months or longer | 3.15% | ||
U.S. Government Sponsored Agencies [Member] | |||
Securities Available for Sale [Abstract] | |||
Less than 12 Months, Fair Value | $ 48,412 | 49,070 | |
Less than 12 Months, Unrealized Losses | (979) | (331) | |
12 Months or Longer, Fair Value | 19,265 | 19,481 | |
12 Months or Longer, Unrealized Losses | (654) | (433) | |
Total, Fair Value | 67,677 | 68,551 | |
Total, Unrealized Losses | (1,633) | (764) | |
State and Political Subdivisions [Member] | |||
Securities Available for Sale [Abstract] | |||
Less than 12 Months, Fair Value | 115,741 | 23,217 | |
Less than 12 Months, Unrealized Losses | (2,913) | (95) | |
12 Months or Longer, Fair Value | 24,041 | 24,774 | |
12 Months or Longer, Unrealized Losses | (777) | (157) | |
Total, Fair Value | 139,782 | 47,991 | |
Total, Unrealized Losses | (3,690) | (252) | |
Residential Mortgage-Backed Securities [Member] | |||
Securities Available for Sale [Abstract] | |||
Less than 12 Months, Fair Value | 37,193 | 18,771 | |
Less than 12 Months, Unrealized Losses | (512) | (199) | |
12 Months or Longer, Fair Value | 82,865 | 88,100 | |
12 Months or Longer, Unrealized Losses | (1,574) | (1,394) | |
Total, Fair Value | 120,058 | 106,871 | |
Total, Unrealized Losses | (2,086) | (1,593) | |
Residential Collateralized Mortgage Obligations [Member] | |||
Securities Available for Sale [Abstract] | |||
Less than 12 Months, Fair Value | 12,521 | 4,761 | |
Less than 12 Months, Unrealized Losses | (156) | (67) | |
12 Months or Longer, Fair Value | 4,271 | 3,502 | |
12 Months or Longer, Unrealized Losses | (24) | (13) | |
Total, Fair Value | 16,792 | 8,263 | |
Total, Unrealized Losses | (180) | (80) | |
Commercial Mortgage Backed Securities [Member] | |||
Securities Available for Sale [Abstract] | |||
Less than 12 Months, Fair Value | 24,331 | 6,961 | |
Less than 12 Months, Unrealized Losses | (536) | (94) | |
12 Months or Longer, Fair Value | 79,377 | 81,042 | |
12 Months or Longer, Unrealized Losses | (3,767) | (2,294) | |
Total, Fair Value | 103,708 | 88,003 | |
Total, Unrealized Losses | (4,303) | (2,388) | |
SBA pools [Member] | |||
Securities Available for Sale [Abstract] | |||
Less than 12 Months, Fair Value | 0 | 0 | |
Less than 12 Months, Unrealized Losses | 0 | 0 | |
12 Months or Longer, Fair Value | 539 | 545 | |
12 Months or Longer, Unrealized Losses | (15) | (15) | |
Total, Fair Value | 539 | 545 | |
Total, Unrealized Losses | (15) | (15) | |
SBA pools [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Less than 12 Months, Fair Value | 0 | 0 | |
Less than 12 Months, Unrealized Losses | 0 | 0 | |
12 Months or Longer, Fair Value | 7,312 | 7,369 | |
12 Months or Longer, Unrealized Losses | (512) | (485) | |
Total, Fair Value | 7,312 | 7,369 | |
Total, Unrealized Losses | $ (512) | $ (485) |
Investment Securities, Amortize
Investment Securities, Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available for Sale, Amortized Cost [Abstract] | ||
One year or less | $ 201 | |
One to five years | 65,540 | |
Five to ten years | 6,578 | |
Over ten years | 161,536 | |
Subtotal | 233,855 | |
Amortized cost | 482,588 | |
Available for Sale, Fair Value [Abstract] | ||
One year or less | 200 | |
One to five years | 64,008 | |
Five to ten years | 6,487 | |
Over ten years | 157,999 | |
Subtotal | 228,694 | |
Fair value | 470,910 | |
Held to Maturity, Amortized Cost [Abstract] | ||
One year or less | 0 | |
One to five years | 0 | |
Five to ten years | 0 | |
Over ten years | 7,824 | |
Subtotal | 7,824 | |
Amortized Cost | 7,824 | $ 7,854 |
Held to Maturity, Fair Value [Abstract] | ||
One year or less | 0 | |
One to five years | 0 | |
Five to ten years | 0 | |
Over ten years | 7,312 | |
Subtotal | 7,312 | |
Fair value | 7,312 | 7,369 |
Securities pledged as collateral on public deposits and for other purposes as required or permitted by law | 83,800 | $ 87,400 |
Residential Mortgage-Backed Securities [Member] | ||
Available for Sale, Amortized Cost [Abstract] | ||
Amortized cost | 120,195 | |
Available for Sale, Fair Value [Abstract] | ||
Fair value | 118,111 | |
Residential Collateralized Mortgage Obligations [Member] | ||
Available for Sale, Amortized Cost [Abstract] | ||
Amortized cost | 18,294 | |
Available for Sale, Fair Value [Abstract] | ||
Fair value | 18,164 | |
Commercial Mortgage Backed Securities [Member] | ||
Available for Sale, Amortized Cost [Abstract] | ||
Amortized cost | 110,244 | |
Available for Sale, Fair Value [Abstract] | ||
Fair value | 105,941 | |
Residential Mortgage-Backed Securities [Member] | ||
Held to Maturity, Amortized Cost [Abstract] | ||
Amortized Cost | 0 | |
Held to Maturity, Fair Value [Abstract] | ||
Fair value | 0 | |
Residential Collateralized Mortgage Obligations [Member] | ||
Held to Maturity, Amortized Cost [Abstract] | ||
Amortized Cost | 0 | |
Held to Maturity, Fair Value [Abstract] | ||
Fair value | $ 0 |
Loans and Allowance for Loan 44
Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Components of loans receivables [Abstract] | ||
Total loans | $ 706,159 | $ 701,007 |
Unearned income | (813) | (863) |
Gross loans | 705,346 | 700,144 |
Allowance for loan losses | (11,238) | (13,803) |
Net loans | $ 694,108 | 686,341 |
Percentage of outstanding principal balance of commercial real estate loans secured by owner occupied properties | 25.20% | |
Commercial [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | $ 67,557 | 61,388 |
Commercial Real Estate [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | 384,247 | 378,802 |
Residential Real Estate [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | 169,559 | 178,296 |
Construction Real Estate [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | 68,002 | 63,569 |
Installment and Other [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | $ 16,794 | $ 18,952 |
Loans and Allowance for Loan 45
Loans and Allowance for Loan Losses, Loan Classification (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | $ 695,456 | $ 683,727 |
Nonaccrual loan classification, Current | 4,729 | 3,858 |
Total Past Due | 10,703 | 17,280 |
Nonaccrual loan classification, Total Past Due | 7,896 | 13,482 |
Total loans | 706,159 | 701,007 |
Nonaccrual | 12,625 | 17,340 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 3,291 | 8,065 |
Nonaccrual loan classification, Total Past Due | 484 | 5,859 |
60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 412 | 1,630 |
Nonaccrual loan classification, Total Past Due | 412 | 38 |
90 Days or More Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 7,000 | 7,585 |
Nonaccrual loan classification, Total Past Due | 7,000 | 7,585 |
Commercial [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 67,214 | 59,703 |
Total Past Due | 343 | 1,685 |
Total loans | 67,557 | 61,388 |
Nonaccrual | 58 | 102 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 318 | 173 |
Commercial [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 25 | 1,475 |
Commercial [Member] | 90 Days or More Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 0 | 37 |
Commercial Real Estate [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 380,993 | 371,640 |
Total Past Due | 3,254 | 7,162 |
Total loans | 384,247 | 378,802 |
Nonaccrual | 5,056 | 8,617 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 1,292 | 5,490 |
Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 0 | 0 |
Commercial Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 1,962 | 1,672 |
Residential Real Estate [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 166,462 | 174,388 |
Total Past Due | 3,097 | 3,908 |
Total loans | 169,559 | 178,296 |
Nonaccrual | 3,774 | 4,599 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 1,314 | 1,899 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 387 | 0 |
Residential Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 1,396 | 2,009 |
Construction Real Estate [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 64,114 | 59,291 |
Total Past Due | 3,888 | 4,278 |
Total loans | 68,002 | 63,569 |
Nonaccrual | 3,645 | 3,911 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Construction Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 338 | 423 |
Construction Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 0 | 74 |
Construction Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 3,550 | 3,781 |
Installment and Other [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 16,673 | 18,705 |
Total Past Due | 121 | 247 |
Total loans | 16,794 | 18,952 |
Nonaccrual | 92 | 111 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Installment and Other [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 29 | 80 |
Installment and Other [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 0 | 81 |
Installment and Other [Member] | 90 Days or More Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | $ 92 | $ 86 |
Loans and Allowance for Loan 46
Loans and Allowance for Loan Losses, Risk Category by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Risk category of loans by class of loans [Abstract] | ||
Total loans | $ 706,159 | $ 701,007 |
Current | 695,456 | 683,727 |
Past due | 10,703 | 17,280 |
Nonaccrual | 12,625 | 17,340 |
30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 3,291 | 8,065 |
60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 412 | 1,630 |
90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 7,000 | 7,585 |
Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 676,303 | 665,822 |
Current | 673,557 | 662,445 |
Pass [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 2,746 | 1,785 |
Pass [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 1,592 |
Pass [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 5,630 | 5,681 |
Current | 5,630 | 5,681 |
Special Mention [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Special Mention [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Special Mention [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 24,226 | 29,504 |
Current | 16,269 | 15,601 |
Nonaccrual | 12,600 | 17,300 |
Substandard [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 545 | 6,280 |
Substandard [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 412 | 38 |
Substandard [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 7,000 | 7,585 |
Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Current | 0 | 0 |
Doubtful [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Doubtful [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Doubtful [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Commercial [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 67,557 | 61,388 |
Current | 67,214 | 59,703 |
Past due | 343 | 1,685 |
Nonaccrual | 58 | 102 |
Commercial [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 318 | 173 |
Commercial [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 25 | 1,475 |
Commercial [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 37 |
Commercial [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 64,757 | 58,769 |
Commercial [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 225 | 2 |
Commercial [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 2,575 | 2,617 |
Commercial [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Commercial Real Estate [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 384,247 | 378,802 |
Current | 380,993 | 371,640 |
Past due | 3,254 | 7,162 |
Nonaccrual | 5,056 | 8,617 |
Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 1,292 | 5,490 |
Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Commercial Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 1,962 | 1,672 |
Commercial Real Estate [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 369,163 | 359,768 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 4,507 | 4,762 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 10,577 | 14,272 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Residential Real Estate [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 169,559 | 178,296 |
Current | 166,462 | 174,388 |
Past due | 3,097 | 3,908 |
Nonaccrual | 3,774 | 4,599 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 1,314 | 1,899 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 387 | 0 |
Residential Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 1,396 | 2,009 |
Residential Real Estate [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 164,280 | 172,101 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Residential Real Estate [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 5,279 | 6,195 |
Residential Real Estate [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Construction Real Estate [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 68,002 | 63,569 |
Current | 64,114 | 59,291 |
Past due | 3,888 | 4,278 |
Nonaccrual | 3,645 | 3,911 |
Construction Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 338 | 423 |
Construction Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 74 |
Construction Real Estate [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 3,550 | 3,781 |
Construction Real Estate [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 61,717 | 56,661 |
Construction Real Estate [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 898 | 917 |
Construction Real Estate [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 5,387 | 5,991 |
Construction Real Estate [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Installment and Other [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 16,794 | 18,952 |
Current | 16,673 | 18,705 |
Past due | 121 | 247 |
Nonaccrual | 92 | 111 |
Installment and Other [Member] | 30-59 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 29 | 80 |
Installment and Other [Member] | 60-89 Days Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 81 |
Installment and Other [Member] | 90 Days or More Past Due [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 92 | 86 |
Installment and Other [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 16,386 | 18,523 |
Installment and Other [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Installment and Other [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 408 | 429 |
Installment and Other [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | $ 0 | $ 0 |
Loans and Allowance for Loan 47
Loans and Allowance for Loan Losses, Impairment by Class of Loans (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Unpaid Principal Balance [Abstract] | |||
Total | $ 50,866,000 | $ 53,485,000 | |
Recorded Investment [Abstract] | |||
Total | 45,731,000 | 51,141,000 | |
Allowance for Loan Losses Allocated [Abstract] | |||
With an allowance recorded | 2,563,000 | 5,152,000 | |
Average Recorded Investment [Abstract] | |||
Total | 48,436,000 | $ 52,018,000 | |
Interest Income Recognized [Abstract] | |||
Total | 417,000 | 514,000 | |
Troubled debt restructuring, recorded investment | 39,900,000 | 38,900,000 | |
Loan interest income | 188,300 | 211,400 | |
Commercial [Member] | |||
Unpaid Principal Balance [Abstract] | |||
With no related allowance recorded | 99,000 | 184,000 | |
With an allowance recorded | 13,267,000 | 13,361,000 | |
Recorded Investment [Abstract] | |||
With no related allowance recorded | 96,000 | 182,000 | |
With an allowance recorded | 13,266,000 | 13,359,000 | |
Allowance for Loan Losses Allocated [Abstract] | |||
With an allowance recorded | 243,000 | 211,000 | |
Average Recorded Investment [Abstract] | |||
With no related allowance recorded | 139,000 | 1,989,000 | |
With allowance recorded | 13,313,000 | 13,935,000 | |
Interest Income Recognized [Abstract] | |||
With no related allowance recorded | 1,000 | 14,000 | |
With an allowance recorded | 187,000 | 186,000 | |
Commercial Real Estate [Member] | |||
Unpaid Principal Balance [Abstract] | |||
With no related allowance recorded | 8,014,000 | 4,294,000 | |
With an allowance recorded | 6,474,000 | 10,987,000 | |
Recorded Investment [Abstract] | |||
With no related allowance recorded | 5,056,000 | 4,154,000 | |
With an allowance recorded | 6,474,000 | 10,987,000 | |
Allowance for Loan Losses Allocated [Abstract] | |||
With an allowance recorded | 1,199,000 | 3,735,000 | |
Average Recorded Investment [Abstract] | |||
With no related allowance recorded | 4,605,000 | 5,035,000 | |
With allowance recorded | 8,730,000 | 6,353,000 | |
Interest Income Recognized [Abstract] | |||
With no related allowance recorded | 0 | 10,000 | |
With an allowance recorded | 70,000 | 67,000 | |
Residential Real Estate [Member] | |||
Unpaid Principal Balance [Abstract] | |||
With no related allowance recorded | 5,809,000 | 6,585,000 | |
With an allowance recorded | 6,641,000 | 6,774,000 | |
Recorded Investment [Abstract] | |||
With no related allowance recorded | 5,012,000 | 5,808,000 | |
With an allowance recorded | 6,641,000 | 6,774,000 | |
Allowance for Loan Losses Allocated [Abstract] | |||
With an allowance recorded | 857,000 | 943,000 | |
Average Recorded Investment [Abstract] | |||
With no related allowance recorded | 5,410,000 | 4,459,000 | |
With allowance recorded | 6,708,000 | 8,343,000 | |
Interest Income Recognized [Abstract] | |||
With no related allowance recorded | 15,000 | 22,000 | |
With an allowance recorded | 75,000 | 81,000 | |
Construction Real Estate [Member] | |||
Unpaid Principal Balance [Abstract] | |||
With no related allowance recorded | 6,804,000 | 7,471,000 | |
With an allowance recorded | 3,206,000 | 3,244,000 | |
Recorded Investment [Abstract] | |||
With no related allowance recorded | 5,429,000 | 6,049,000 | |
With an allowance recorded | 3,206,000 | 3,244,000 | |
Allowance for Loan Losses Allocated [Abstract] | |||
With an allowance recorded | 227,000 | 231,000 | |
Average Recorded Investment [Abstract] | |||
With no related allowance recorded | 5,739,000 | 6,982,000 | |
With allowance recorded | 3,225,000 | 4,209,000 | |
Interest Income Recognized [Abstract] | |||
With no related allowance recorded | 22,000 | 88,000 | |
With an allowance recorded | 42,000 | 40,000 | |
Installment and Other [Member] | |||
Unpaid Principal Balance [Abstract] | |||
With no related allowance recorded | 309,000 | 349,000 | |
With an allowance recorded | 243,000 | 236,000 | |
Recorded Investment [Abstract] | |||
With no related allowance recorded | 308,000 | 348,000 | |
With an allowance recorded | 243,000 | 236,000 | |
Allowance for Loan Losses Allocated [Abstract] | |||
With an allowance recorded | 37,000 | $ 32,000 | |
Average Recorded Investment [Abstract] | |||
With no related allowance recorded | 328,000 | 308,000 | |
With allowance recorded | 239,000 | 405,000 | |
Interest Income Recognized [Abstract] | |||
With no related allowance recorded | 3,000 | 3,000 | |
With an allowance recorded | $ 2,000 | $ 3,000 |
Loans and Allowance for Loan 48
Loans and Allowance for Loan Losses, Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | |
Activity in the allowance for loan losses [Roll Forward] | ||||
Beginning balance | $ 13,803 | $ 14,352 | ||
Provision (benefit) for loan losses | 220 | 30 | ||
Charge-offs | (2,990) | (583) | ||
Recoveries | 205 | 388 | ||
Net charge-offs | (2,785) | (195) | ||
Ending balance | 11,238 | 14,187 | ||
Allowance for loan losses allocated to [Abstract] | ||||
Loans individually evaluated for impairment | $ 2,563 | $ 5,152 | ||
Loans collectively evaluated for impairment | 8,675 | 8,651 | ||
Ending balance | 13,803 | 14,352 | 11,238 | 13,803 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 45,731 | 51,141 | ||
Collectively evaluated for impairment | 660,428 | 649,866 | ||
Total ending loans balance | 706,159 | 701,007 | ||
Commercial [Member] | ||||
Activity in the allowance for loan losses [Roll Forward] | ||||
Beginning balance | 536 | 1,449 | ||
Provision (benefit) for loan losses | 46 | 320 | ||
Charge-offs | (9) | (186) | ||
Recoveries | 24 | 173 | ||
Net charge-offs | 15 | (13) | ||
Ending balance | 597 | 1,756 | ||
Allowance for loan losses allocated to [Abstract] | ||||
Loans individually evaluated for impairment | 243 | 211 | ||
Loans collectively evaluated for impairment | 354 | 325 | ||
Ending balance | 536 | 1,449 | 597 | 536 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 13,362 | 13,541 | ||
Collectively evaluated for impairment | 54,195 | 47,847 | ||
Total ending loans balance | 67,557 | 61,388 | ||
Commercial Real Estate [Member] | ||||
Activity in the allowance for loan losses [Roll Forward] | ||||
Beginning balance | 8,573 | 6,472 | ||
Provision (benefit) for loan losses | 1,046 | 13 | ||
Charge-offs | (2,736) | 0 | ||
Recoveries | 22 | 88 | ||
Net charge-offs | (2,714) | 88 | ||
Ending balance | 6,905 | 6,573 | ||
Allowance for loan losses allocated to [Abstract] | ||||
Loans individually evaluated for impairment | 1,199 | 3,735 | ||
Loans collectively evaluated for impairment | 5,706 | 4,838 | ||
Ending balance | 8,573 | 6,472 | 6,905 | 8,573 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 11,530 | 15,141 | ||
Collectively evaluated for impairment | 372,717 | 363,661 | ||
Total ending loans balance | 384,247 | 378,802 | ||
Residential Real Estate [Member] | ||||
Activity in the allowance for loan losses [Roll Forward] | ||||
Beginning balance | 2,843 | 4,524 | ||
Provision (benefit) for loan losses | (323) | (209) | ||
Charge-offs | (105) | (244) | ||
Recoveries | 47 | 55 | ||
Net charge-offs | (58) | (189) | ||
Ending balance | 2,462 | 4,126 | ||
Allowance for loan losses allocated to [Abstract] | ||||
Loans individually evaluated for impairment | 857 | 943 | ||
Loans collectively evaluated for impairment | 1,605 | 1,900 | ||
Ending balance | 2,843 | 4,524 | 2,462 | 2,843 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 11,653 | 12,582 | ||
Collectively evaluated for impairment | 157,906 | 165,714 | ||
Total ending loans balance | 169,559 | 178,296 | ||
Construction Real Estate [Member] | ||||
Activity in the allowance for loan losses [Roll Forward] | ||||
Beginning balance | 1,030 | 1,119 | ||
Provision (benefit) for loan losses | (53) | (27) | ||
Charge-offs | (112) | (16) | ||
Recoveries | 49 | 10 | ||
Net charge-offs | (63) | (6) | ||
Ending balance | 914 | 1,086 | ||
Allowance for loan losses allocated to [Abstract] | ||||
Loans individually evaluated for impairment | 227 | 231 | ||
Loans collectively evaluated for impairment | 687 | 799 | ||
Ending balance | 1,030 | 1,119 | 914 | 1,030 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 8,635 | 9,293 | ||
Collectively evaluated for impairment | 59,367 | 54,276 | ||
Total ending loans balance | 68,002 | 63,569 | ||
Installment and Other [Member] | ||||
Activity in the allowance for loan losses [Roll Forward] | ||||
Beginning balance | 315 | 715 | ||
Provision (benefit) for loan losses | (95) | 4 | ||
Charge-offs | (28) | (137) | ||
Recoveries | 63 | 62 | ||
Net charge-offs | 35 | (75) | ||
Ending balance | 255 | 644 | ||
Allowance for loan losses allocated to [Abstract] | ||||
Loans individually evaluated for impairment | 37 | 32 | ||
Loans collectively evaluated for impairment | 218 | 283 | ||
Ending balance | 315 | 715 | 255 | 315 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 551 | 584 | ||
Collectively evaluated for impairment | 16,243 | 18,368 | ||
Total ending loans balance | 16,794 | 18,952 | ||
Unallocated [Member] | ||||
Activity in the allowance for loan losses [Roll Forward] | ||||
Beginning balance | 506 | 73 | ||
Provision (benefit) for loan losses | (401) | (71) | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Net charge-offs | 0 | 0 | ||
Ending balance | 105 | 2 | ||
Allowance for loan losses allocated to [Abstract] | ||||
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 105 | 506 | ||
Ending balance | $ 506 | $ 73 | 105 | 506 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 0 | 0 | ||
Total ending loans balance | $ 0 | $ 0 |
Loans and Allowance for Loan 49
Loans and Allowance for Loan Losses, Troubled Debt Restructurings (Details) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018USD ($)Contract | Mar. 31, 2017USD ($)Contract | Dec. 31, 2017USD ($)Contract | |
TDRs on financing receivables [Abstract] | |||
Number of Contracts | Contract | 3 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 2,527,000 | $ 10,000 | |
Post-Modification Outstanding Recorded Investment | 2,527,000 | 10,000 | |
Specific reserves allocated | $ 1,000 | $ 0 | |
TDRs, subsequent default [Abstract] | |||
Number of Contracts | Contract | 1 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 25,000 | $ 61,000 | |
Specific reserves allocated | $ 25,000 | 0 | |
Number of Contracts [Abstract] | |||
Accrual | Contract | 104 | 108 | |
Nonaccrual | Contract | 17 | 19 | |
Total TDRs | Contract | 121 | 127 | |
Amount [Abstract] | |||
Accrual | $ 32,934,000 | $ 33,801,000 | |
Nonaccrual | 6,844,000 | 5,146,000 | |
Total TDRs | 39,778,000 | 38,947,000 | |
TDRs requiring a specific reserve | 1,000 | 0 | |
TDR charge-offs | 147,000 | 20,000 | |
Troubled debt restructuring, subsequently defaulted, Provision to the allowance for loan losses | 25,000 | $ 0 | |
Specific reserves on TDRs | 2,600,000 | $ 2,400,000 | |
Commitments to lend additional funds | $ 2,100 | ||
Commercial [Member] | |||
TDRs on financing receivables [Abstract] | |||
Number of Contracts | Contract | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 171,000 | ||
Post-Modification Outstanding Recorded Investment | 171,000 | ||
Specific reserves allocated | $ 1,000 | ||
TDRs, subsequent default [Abstract] | |||
Number of Contracts | Contract | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 25,000 | ||
Specific reserves allocated | $ 25,000 | ||
Construction Real Estate [Member] | |||
TDRs on financing receivables [Abstract] | |||
Number of Contracts | Contract | 1 | ||
TDRs, subsequent default [Abstract] | |||
Number of Contracts | Contract | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 61,000 | ||
Specific reserves allocated | 0 | ||
Commercial Real Estate [Member] | |||
TDRs on financing receivables [Abstract] | |||
Number of Contracts | Contract | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 2,356,000 | 10,000 | |
Post-Modification Outstanding Recorded Investment | 2,356,000 | 10,000 | |
Specific reserves allocated | $ 0 | $ 0 |
Loans and Allowance for Loan 50
Loans and Allowance for Loan Losses, Activity Related to Loans (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Loans and Allowance for Loan Losses [Abstract] | ||
Loans outstanding to executive officers and directors | $ 300,600 | $ 324,400 |
Analysis of the activity related to loans [Roll Forward] | ||
Balance, beginning | 198,000 | 348,000 |
Additions | 0 | 13,000 |
Changes in Board composition | 0 | (76,000) |
Principal payments and other reductions | (24,000) | (87,000) |
Balance, ending | $ 174,000 | $ 198,000 |
Loan Servicing and Mortgage S51
Loan Servicing and Mortgage Servicing Rights ("MSRs") (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | |
Loan Servicing and Mortgage Servicing Rights ("MSRs") [Abstract] | |||
Contractual servicing fee | 0.25% | ||
Late fees on loans serviced for others | $ 18 | ||
Custodial balances on deposit at the Bank in connection with the foregoing loan servicing | $ 0 | $ 4,200 | |
Custodial balances on deposit with other financial institutions with the foregoing loan servicing | $ 0 | $ 0 |
Other Real Estate Owned ("ORE52
Other Real Estate Owned ("OREO") (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Real Estate [Line Items] | ||||
Other real estate owned | $ 6,449 | $ 6,432 | $ 7,991 | $ 8,436 |
Commercial Real Estate [Member] | ||||
Real Estate [Line Items] | ||||
Other real estate owned | 1,649 | 1,667 | ||
Residential Real Estate [Member] | ||||
Real Estate [Line Items] | ||||
Other real estate owned | 1,051 | 886 | ||
Construction Real Estate [Member] | ||||
Real Estate [Line Items] | ||||
Other real estate owned | $ 3,749 | $ 3,879 |
Other Real Estate Owned ("ORE53
Other Real Estate Owned ("OREO"), Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Other Real Estate [Roll Forward] | ||
Balance at beginning of period | $ 6,432 | $ 8,436 |
Transfers in at fair value | 473 | 433 |
Capitalized improvements | 32 | 0 |
Write-down of value | (18) | (82) |
Gain on disposal | 39 | 321 |
Cash received upon disposition | (509) | (1,117) |
Sales financed by loans | 0 | 0 |
Balance at end of period | $ 6,449 | $ 7,991 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Demand deposits, noninterest bearing | $ 163,134 | $ 161,677 |
NOW and money market accounts | 428,436 | 404,225 |
Savings deposits | 388,901 | 388,300 |
Time certificates, $250,000 or more | 21,339 | 21,639 |
Other time certificates | 142,284 | 151,506 |
Total deposits | 1,144,094 | 1,127,347 |
Deposits from executive officers, directors and their affiliates | $ 1,800 | $ 2,200 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Line of Credit Facility [Line Items] | ||
Loans pledged under blanket assignment | $ 328,600 | |
Investment securities held in safekeeping by FHLB | 76,100 | |
Investment securities pledged as collateral | 2,300 | |
Advances available based on remaining unpledged investment securities | 402,400 | |
Fixed rate advances on borrowings [Abstract] | ||
Long-term borrowings | 2,300 | $ 2,300 |
Short-term Borrowings [Member] | ||
Line of Credit Facility [Line Items] | ||
Amount of maximum borrowing capacity | $ 20,000 | |
Minimum [Member] | ||
Line of Credit Facility [Line Items] | ||
Short-term borrowings period | 15 days | |
Maximum [Member] | ||
Line of Credit Facility [Line Items] | ||
Short-term borrowings period | 60 days | |
Federal Home Loan Bank Advances 6.343 % [Member] | ||
Fixed rate advances on borrowings [Abstract] | ||
Maturity Date | Apr. 27, 2021 | |
Rate | 6.343% | |
Type | Fixed | |
Principal due | At maturity | |
Long-term borrowings | $ 2,300 | $ 2,300 |
Junior Subordinated Debt (Detai
Junior Subordinated Debt (Details) | Mar. 08, 2018USD ($) | Mar. 31, 2018USD ($)Payment | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) |
Variable Interest Entity [Line Items] | ||||
Junior subordinated deferrable interest debentures owed | $ 26,764,000 | $ 36,941,000 | ||
Noninterest Expense | $ 9,813,000 | $ 13,916,000 | ||
Number of semi annual payments entity has right to defer | Payment | 10 | |||
Number of quarterly payments entity has right to defer | Payment | 20 | |||
Trust Preferred Securities [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Accrued interest and unpaid | $ 110,700 | $ 456,000 | ||
Trust I [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Date of Issue | Mar. 23, 2000 | |||
Amount of trust preferred securities issued | $ 10,000,000 | |||
Rate on trust preferred securities | 10.875% | 10.875% | ||
Maturity | Mar. 8, 2030 | |||
Date of first redemption | Mar. 8, 2010 | |||
Common equity securities issued | $ 310,000 | |||
Junior subordinated deferrable interest debentures owed | $ 0 | |||
Rate on junior subordinated deferrable interest debentures, fixed | 10.875% | |||
Consummated early redemption of principal amount | $ 10,300,000 | |||
Redemption rate | 101.088% | |||
Redemption price | $ 11,000,000 | |||
Noninterest Expense | $ 131,000 | |||
Trust III [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Date of Issue | May 11, 2004 | |||
Amount of trust preferred securities issued | $ 6,000,000 | |||
Variable rate on trust preferred securities | 4.70625% | |||
Maturity | Sep. 8, 2034 | |||
Date of first redemption | Sep. 8, 2009 | |||
Common equity securities issued | $ 186,000 | |||
Junior subordinated deferrable interest debentures owed | $ 6,186,000 | |||
Rate on junior subordinated deferrable interest debentures, variable | 4.70625% | |||
Trust IV [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Date of Issue | Jun. 29, 2005 | |||
Amount of trust preferred securities issued | $ 10,000,000 | |||
Rate on trust preferred securities | 6.88% | |||
Maturity | Nov. 23, 2035 | |||
Date of first redemption | Aug. 23, 2010 | |||
Common equity securities issued | $ 310,000 | |||
Junior subordinated deferrable interest debentures owed | $ 10,310,000 | |||
Rate on junior subordinated deferrable interest debentures, fixed | 6.88% | |||
Trust V [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Date of Issue | Sep. 21, 2006 | |||
Amount of trust preferred securities issued | $ 10,000,000 | |||
Variable rate on trust preferred securities | 3.7745% | |||
Maturity | Dec. 15, 2036 | |||
Date of first redemption | Sep. 15, 2011 | |||
Common equity securities issued | $ 310,000 | |||
Junior subordinated deferrable interest debentures owed | $ 10,310,000 | |||
Rate on junior subordinated deferrable interest debentures, variable | 3.7745% |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Federal statutory tax rate | $ 396 | $ (238) | |
State income tax, net of federal benefit | 61 | 155 | |
Net tax exempt interest income | (211) | (91) | |
Other, net | (53) | (40) | |
Tax provision (benefit) before change in valuation allowance | 193 | (214) | |
Change in valuation allowance | 0 | 0 | |
Provision (benefit) for income taxes | $ 193 | $ (214) | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Federal statutory tax rate | 21.00% | 34.00% | |
State income tax, net of federal benefit | 3.23% | (22.22%) | |
Net tax exempt interest income | (11.18%) | 13.08% | |
Other, net | (2.81%) | 5.68% | |
Tax provision (benefit) before change in valuation allowance | 10.24% | 30.54% | |
Change in valuation allowance | 0.00% | 0.00% | |
Provision (benefit) for income taxes | 10.24% | 30.54% | |
Deferred tax assets, valuation allowance | $ 2,500 | $ 2,500 | |
Federal [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Business tax credits, expire unused | 1,700 | ||
State [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Business tax credits, expire unused | $ 645 |
Commitments and Off-Balance-S58
Commitments and Off-Balance-Sheet Activities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Fixed And Adjustable Rate Loans [Abstract] | ||
Fixed rate | $ 16,878 | $ 17,933 |
Adjustable rate | 121,561 | 110,354 |
Total | 138,439 | 128,287 |
FHLB, collateral amount | $ 404,700 | |
Term of letter of credit | 1 year | |
Potential obligations under credit-related commitments | $ 575 | 575 |
Minimum [Member] | ||
Fixed And Adjustable Rate Loans [Abstract] | ||
Fixed interest rate | 0.00% | |
Maximum [Member] | ||
Fixed And Adjustable Rate Loans [Abstract] | ||
Fixed interest rate | 6.50% | |
Term of derivatives maturities | 8 years | |
Unfunded Commitments under Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Credit-related commitments | $ 133,162 | 122,910 |
Commercial and Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Credit-related commitments | 5,277 | 5,377 |
Fixed And Adjustable Rate Loans [Abstract] | ||
Fees collected on grants of letters of credit | 24 | 23 |
Commitments to Make Loans [Member] | ||
Loss Contingencies [Line Items] | ||
Credit-related commitments | $ 15,444 | $ 1,909 |
Preferred Equity Issues (Detail
Preferred Equity Issues (Details) - shares | Mar. 31, 2018 | Dec. 31, 2017 |
Preferred Equity Issues [Abstract] | ||
Preferred shares, outstanding (in shares) | 0 | 0 |
Stock Incentives (Details)
Stock Incentives (Details) - 2015 Plan [Member] - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Feb. 28, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares issuable (in shares) | 297,902 | 30,477 | ||
Additional number of share authorized to issue (in shares) | 500,000 | |||
Additional Disclosures [Abstract] | ||||
Share-based compensation expense | $ 217,000 | $ 16,000 | ||
Unrecognized compensation cost | $ 3,400 | |||
RSUs [Member] | ||||
Summary of changes in RSUs and performance-based RSUs [Roll Forward] | ||||
Nonvested, beginning balance (in shares) | 452,782 | |||
Granted (in shares) | 239,075 | |||
Vested (in shares) | (13,925) | |||
Forfeited or expired (in shares) | (6,500) | |||
Nonvested, ending balance (in shares) | 671,432 | 452,782 | ||
Weighted-Average Grant Price [Roll Forward] | ||||
Outstanding, Beginning Balance (in dollars per share) | $ 4.70 | |||
Granted (in dollars per share) | 7.58 | |||
Vested (in dollars per share) | 4 | |||
Forfeited or expired (in dollars per share) | 4.75 | |||
Outstanding, Ending Balance (in dollars per share) | $ 5.74 | $ 4.70 | ||
Weighted-Average Remaining Contractual Term [Abstract] | ||||
Outstanding | 1 year 7 months 28 days | 2 years 4 days | ||
Granted | 1 year 9 months 18 days | |||
Vested | 0 years | |||
Forfeited or expired | 0 years | |||
Aggregate Intrinsic Value [Abstract] | ||||
Outstanding, Beginning Balance | $ 2,130 | |||
Granted | 1,812 | |||
Vested | (56) | |||
Forfeitures or expired | (31) | |||
Outstanding, Ending Balance | $ 3,855 | $ 2,130 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Investment securities available for sale [Abstract] | ||
Fair value, Liabilities, Level 2 to Level 1 transfers | $ 0 | $ 0 |
Fair value, Assets, Level 1 to Level 2 transfers | 0 | 0 |
Fair value, Assets, Level 2 to Level 1 transfers | 0 | 0 |
Fair value, Liabilities, Level 1 to Level 2 transfers | 0 | 0 |
Carrying value of impaired loans | 29,800 | 39,800 |
Impaired loans, valuation allowance | 2,600 | 5,200 |
Write-down of OREO | 19 | 43 |
Financial Assets [Abstract] | ||
Impaired loans | 45,731 | 51,141 |
Recurring [Member] | ||
Investment securities available for sale [Abstract] | ||
U.S. Government sponsored agencies | 67,677 | 68,551 |
States and political subdivision | 160,478 | 158,706 |
Residential mortgage backed securities | 118,111 | 123,083 |
Residential collateralized mortgage obligation | 18,164 | 9,686 |
Commercial mortgage backed securities | 105,941 | 108,162 |
SBA pools | 539 | 545 |
Total | 470,910 | 468,733 |
Recurring [Member] | Level 1 [Member] | ||
Investment securities available for sale [Abstract] | ||
U.S. Government sponsored agencies | 0 | 0 |
States and political subdivision | 0 | 0 |
Residential mortgage backed securities | 0 | 0 |
Residential collateralized mortgage obligation | 0 | 0 |
Commercial mortgage backed securities | 0 | 0 |
SBA pools | 0 | 0 |
Total | 0 | 0 |
Recurring [Member] | Level 2 [Member] | ||
Investment securities available for sale [Abstract] | ||
U.S. Government sponsored agencies | 67,677 | 68,551 |
States and political subdivision | 160,478 | 158,706 |
Residential mortgage backed securities | 118,111 | 123,083 |
Residential collateralized mortgage obligation | 18,164 | 9,686 |
Commercial mortgage backed securities | 105,941 | 108,162 |
SBA pools | 539 | 545 |
Total | 470,910 | 468,733 |
Recurring [Member] | Level 3 [Member] | ||
Investment securities available for sale [Abstract] | ||
U.S. Government sponsored agencies | 0 | 0 |
States and political subdivision | 0 | 0 |
Residential mortgage backed securities | 0 | 0 |
Residential collateralized mortgage obligation | 0 | 0 |
Commercial mortgage backed securities | 0 | 0 |
SBA pools | 0 | 0 |
Total | 0 | 0 |
Nonrecurring [Member] | ||
Financial Assets [Abstract] | ||
Impaired loans | 27,267 | 34,600 |
Non-Financial Assets [Abstract] | ||
OREO | 93 | 405 |
Nonrecurring [Member] | Level 1 [Member] | ||
Financial Assets [Abstract] | ||
Impaired loans | 0 | 0 |
Non-Financial Assets [Abstract] | ||
OREO | 0 | 0 |
Nonrecurring [Member] | Level 2 [Member] | ||
Financial Assets [Abstract] | ||
Impaired loans | 0 | 0 |
Non-Financial Assets [Abstract] | ||
OREO | 0 | 0 |
Nonrecurring [Member] | Level 3 [Member] | ||
Financial Assets [Abstract] | ||
Impaired loans | 27,267 | 34,600 |
Non-Financial Assets [Abstract] | ||
OREO | $ 93 | $ 405 |
Fair Value Measurements, Assets
Fair Value Measurements, Assets, Quantitative Information (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Impaired Loans Commercial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | $ 13,023 | $ 13,359 |
Impaired Loans Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 5,275 | 10,987 |
Impaired Loans Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 5,784 | 6,774 |
Impaired Loans Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 2,979 | 3,244 |
Impaired Loans Installment and Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 206 | 236 |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 27,267 | 34,600 |
Other Real Estate Owned Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 93 | |
Other Real Estate Owned Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 315 | |
Other Real Estate Owned Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 90 | |
Other Real Estate Owned [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | $ 93 | $ 405 |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Commercial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 5.70% | 5.00% |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 4.25% | 4.25% |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 3.13% | 3.13% |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 4.00% | 4.00% |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Installment and Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 4.25% | 4.25% |
Sales Comparison [Member] | Minimum [Member] | Other Real Estate Owned Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 16.67% | |
Sales Comparison [Member] | Minimum [Member] | Other Real Estate Owned Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 9.09% | |
Sales Comparison [Member] | Minimum [Member] | Other Real Estate Owned Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 9.78% | |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Commercial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 150.00% | 100.00% |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 7.62% | 7.62% |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 7.50% | 7.80% |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 7.25% | 7.25% |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Installment and Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 8.00% | 8.00% |
Sales Comparison [Member] | Maximum [Member] | Other Real Estate Owned Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 16.67% | |
Sales Comparison [Member] | Maximum [Member] | Other Real Estate Owned Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 9.09% | |
Sales Comparison [Member] | Maximum [Member] | Other Real Estate Owned Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 9.78% | |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Commercial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 6.07% | 5.97% |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 6.07% | 6.63% |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 5.76% | 5.74% |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 6.19% | 6.18% |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Installment and Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 6.24% | 6.27% |
Sales Comparison [Member] | Weighted Average [Member] | Other Real Estate Owned Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 16.67% | |
Sales Comparison [Member] | Weighted Average [Member] | Other Real Estate Owned Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 9.09% | |
Sales Comparison [Member] | Weighted Average [Member] | Other Real Estate Owned Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 9.78% |
Fair Value Measurements, Estima
Fair Value Measurements, Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financial assets [Abstract] | ||
Cash and due from banks | $ 10,003 | $ 12,893 |
Interest-bearing deposits with banks | 9,517 | 22,541 |
Investments [Abstract] | ||
Available for sale | 470,910 | 468,733 |
Held to maturity | 7,824 | 7,854 |
Non-marketable equity securities | 4,471 | 3,617 |
Loans, net | 694,108 | 686,341 |
Financial liabilities [Abstract] | ||
Non-interest bearing deposits | 163,134 | 161,677 |
Interest bearing deposits | 980,960 | 965,670 |
Long-term borrowings | 2,300 | 2,300 |
Junior subordinated debt | 26,764 | 36,941 |
Level 1 [Member] | ||
Financial assets [Abstract] | ||
Cash and due from banks | 10,003 | 12,983 |
Interest-bearing deposits with banks | 9,517 | 22,541 |
Securities purchased under resell agreements | 0 | |
Investments [Abstract] | ||
Available for sale | 0 | 0 |
Held to maturity | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable on securities | 0 | 0 |
Accrued interest receivable on loans | 0 | 0 |
Accrued interest receivable other | 0 | 0 |
Off-balance-sheet instruments [Abstract] | ||
Loan commitments and standby letters of credit | 0 | 0 |
Financial liabilities [Abstract] | ||
Non-interest bearing deposits | 163,134 | 161,677 |
Interest bearing deposits | 0 | 0 |
Long-term borrowings | 0 | 0 |
Junior subordinated debt | 0 | 0 |
Accrued interest payable | 0 | 0 |
Level 2 [Member] | ||
Financial assets [Abstract] | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits with banks | 0 | 0 |
Securities purchased under resell agreements | 0 | |
Investments [Abstract] | ||
Available for sale | 470,910 | 468,733 |
Held to maturity | 7,312 | 7,369 |
Loans, net | 0 | 0 |
Accrued interest receivable on securities | 2,726 | 2,795 |
Accrued interest receivable on loans | 0 | 0 |
Accrued interest receivable other | 0 | 0 |
Off-balance-sheet instruments [Abstract] | ||
Loan commitments and standby letters of credit | 24 | 23 |
Financial liabilities [Abstract] | ||
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 979,054 | 964,717 |
Long-term borrowings | 2,540 | 2,592 |
Junior subordinated debt | 0 | 0 |
Accrued interest payable | 168 | 172 |
Level 3 [Member] | ||
Financial assets [Abstract] | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits with banks | 0 | 0 |
Securities purchased under resell agreements | 0 | |
Investments [Abstract] | ||
Available for sale | 0 | 0 |
Held to maturity | 0 | 0 |
Loans, net | 683,069 | 680,911 |
Accrued interest receivable on securities | 0 | 0 |
Accrued interest receivable on loans | 2,053 | 2,238 |
Accrued interest receivable other | 7 | 21 |
Off-balance-sheet instruments [Abstract] | ||
Loan commitments and standby letters of credit | 0 | 0 |
Financial liabilities [Abstract] | ||
Non-interest bearing deposits | 0 | 0 |
Interest bearing deposits | 0 | 0 |
Long-term borrowings | 0 | 0 |
Junior subordinated debt | 17,572 | 27,128 |
Accrued interest payable | 111 | 456 |
Carrying Amount [Member] | ||
Financial assets [Abstract] | ||
Cash and due from banks | 10,003 | 12,893 |
Interest-bearing deposits with banks | 9,517 | 22,541 |
Securities purchased under resell agreements | 0 | |
Investments [Abstract] | ||
Available for sale | 470,910 | 468,733 |
Held to maturity | 7,824 | 7,854 |
Non-marketable equity securities | 4,471 | 3,617 |
Loans, net | 694,108 | 686,341 |
Accrued interest receivable on securities | 2,726 | 2,795 |
Accrued interest receivable on loans | 2,053 | 2,238 |
Accrued interest receivable other | 7 | 21 |
Off-balance-sheet instruments [Abstract] | ||
Loan commitments and standby letters of credit | 24 | 23 |
Financial liabilities [Abstract] | ||
Non-interest bearing deposits | 163,134 | 161,677 |
Interest bearing deposits | 980,960 | 965,670 |
Long-term borrowings | 2,300 | 2,300 |
Junior subordinated debt | 26,764 | 37,116 |
Accrued interest payable | 279 | 628 |
Fair Value [Member] | ||
Financial assets [Abstract] | ||
Cash and due from banks | 10,003 | 12,983 |
Interest-bearing deposits with banks | 9,517 | 22,541 |
Securities purchased under resell agreements | 0 | |
Investments [Abstract] | ||
Available for sale | 470,910 | 468,733 |
Held to maturity | 7,312 | 7,369 |
Loans, net | 683,069 | 680,911 |
Accrued interest receivable on securities | 2,726 | 2,795 |
Accrued interest receivable on loans | 2,053 | 2,238 |
Accrued interest receivable other | 7 | 21 |
Off-balance-sheet instruments [Abstract] | ||
Loan commitments and standby letters of credit | 24 | 23 |
Financial liabilities [Abstract] | ||
Non-interest bearing deposits | 163,134 | 161,677 |
Interest bearing deposits | 979,054 | 964,717 |
Long-term borrowings | 2,540 | 2,592 |
Junior subordinated debt | 17,572 | 27,128 |
Accrued interest payable | $ 279 | $ 628 |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Number of years net income plus retained income taken for dividend payment | 2 years | |
Total capital (to risk-weighted assets), Amount [Abstract] | ||
Actual | $ 144,143 | $ 152,076 |
For capital adequacy purposes | $ 68,326 | $ 66,853 |
Total capital (to risk-weighted assets), Ratio [Abstract] | ||
Actual | 16.8772% | 18.1982% |
For capital adequacy purposes | 8.00% | 8.00% |
Tier 1 capital (risk-weighted assets), Amount [Abstract] | ||
Actual | $ 133,453 | $ 132,900 |
For capital adequacy purposes | $ 51,244 | $ 50,140 |
Tier 1 capital (to risk-weighted assets), Ratio [Abstract] | ||
Actual | 15.6256% | 15.9035% |
For capital adequacy purposes | 6.00% | 6.00% |
Common equity Tier 1 capital (to risk weighted assets), Amount [Abstract] | ||
Actual | $ 107,453 | $ 106,320 |
For capital adequacy purposes | $ 38,433 | $ 37,605 |
Common equity Tier 1 capital (to risk weighted assets), Ratio [Abstract] | ||
Actual | 12.5813% | 12.7228% |
For capital adequacy purposes | 4.50% | 4.50% |
Tier 1 leverage (to average assets), Amount [Abstract] | ||
Actual | $ 133,453 | $ 132,900 |
For capital adequacy purposes | $ 51,193 | $ 33,427 |
Tier 1 leverage (to average assets), Ratio [Abstract] | ||
Actual | 10.4275% | 10.1821% |
For capital adequacy purposes | 4.00% | 4.00% |
Bank Only [Member] | ||
Total capital (to risk-weighted assets), Amount [Abstract] | ||
Actual | $ 137,691 | $ 134,959 |
For capital adequacy purposes | 68,240 | 66,720 |
To be well capitalized under prompt corrective action provisions | $ 85,300 | $ 83,399 |
Total capital (to risk-weighted assets), Ratio [Abstract] | ||
Actual | 16.142% | 16.1823% |
For capital adequacy purposes | 8.00% | 8.00% |
To be well capitalized under prompt corrective action provisions | 10.00% | 10.00% |
Tier 1 capital (risk-weighted assets), Amount [Abstract] | ||
Actual | $ 127,014 | $ 124,481 |
For capital adequacy purposes | 51,180 | 50,040 |
To be well capitalized under prompt corrective action provisions | $ 68,240 | $ 66,720 |
Tier 1 capital (to risk-weighted assets), Ratio [Abstract] | ||
Actual | 14.8903% | 14.9259% |
For capital adequacy purposes | 6.00% | 6.00% |
To be well capitalized under prompt corrective action provisions | 8.00% | 8.00% |
Common equity Tier 1 capital (to risk weighted assets), Amount [Abstract] | ||
Actual | $ 127,014 | $ 124,481 |
For capital adequacy purposes | 38,385 | 37,530 |
To be well capitalized under prompt corrective action provisions | $ 55,445 | $ 54,210 |
Common equity Tier 1 capital (to risk weighted assets), Ratio [Abstract] | ||
Actual | 14.8903% | 14.9259% |
For capital adequacy purposes | 4.50% | 4.50% |
To be well capitalized under prompt corrective action provisions | 6.50% | 6.50% |
Tier 1 leverage (to average assets), Amount [Abstract] | ||
Actual | $ 127,014 | $ 124,481 |
For capital adequacy purposes | 51,148 | 33,360 |
To be well capitalized under prompt corrective action provisions | $ 63,935 | $ 41,700 |
Tier 1 leverage (to average assets), Ratio [Abstract] | ||
Actual | 9.9331% | 9.6006% |
For capital adequacy purposes | 4.00% | 4.00% |
To be well capitalized under prompt corrective action provisions | 5.00% | 5.00% |
Capital Conservation Buffer [Abstract] | ||
Capital conservation buffer | 8.142% | 8.1823% |
Consolidated capital conservation buffer | 8.0813% | 8.2228% |