Louisiana
|
|
26-0513559
|
(State or other jurisdiction incorporation or organization)
|
|
(I.R.S. Employer Identification Number)
|
|
|
|
400 East Thomas Street
|
|
|
Hammond, Louisiana
|
|
70401
|
(Address of principal executive offices)
|
|
(Zip Code)
|
(985) 345-7685
|
(Registrant's telephone number, including area code)
|
|
Not Applicable
|
(Former name or former address, if changed since last report)
|
|
Securities Registered Pursuant to Section 12(b) of the Act:
|
Common Stock, $1.00 par value
|
|
The NASDAQ Stock Market, LLC
|
(Title of each class)
|
|
(Name of each exchange on which registered)
|
|
|
|
Securities Registered Pursuant to Section 12(g) of the Act: None
|
(1) |
Proxy Statement for the 2018 Annual Meeting of Shareholders of the Registrant (Part III).
|
|
|
Page
|
Part I.
|
|
|
Item 1
|
4
|
|
Item 1A
|
20
|
|
Item 1B
|
30
|
|
Item 2
|
31
|
|
Item 3
|
32
|
|
Item 4
|
32
|
|
|
|
|
Part II.
|
|
|
Item 5
|
33
|
|
Item 6
|
34
|
|
Item 7
|
37
|
|
Item 7A
|
70
|
|
Item 8
|
72
|
|
|
78
|
|
Item 9
|
115
|
|
Item 9A
|
115
|
|
Item 9B
|
115
|
|
|
|
|
Part III.
|
|
|
Item 10
|
116
|
|
Item 11
|
116
|
|
Item 12
|
116
|
|
Item 13
|
116
|
|
Item 14
|
116
|
|
|
|
|
Part IV.
|
|
|
Item 15
|
117
|
|
Item 16
|
117
|
Acquired Institution/Market
|
Date of Acquisition
|
Deal Value
(dollars in thousands)
|
Fair Value of
Total Assets Acquired
(dollars in thousands)
|
||||||
Premier Bancshares, Inc.
|
June 16, 2017
|
$
|
20,954
|
$
|
158,313
|
||||
Dallas-Fort Worth-Arlington and Waco MSA
|
|||||||||
Greensburg Bancshares, Inc.
|
July 1, 2011
|
5,308
|
89,386
|
||||||
Baton Rouge MSA
|
|
||||||||
|
|
||||||||
Homestead Bancorp, Inc.
|
July 30, 2007
|
12,140
|
129,606
|
||||||
Hammond MSA
|
|
● |
be made on terms that are substantially the same as, and follow credit underwriting procedures that are not less stringent than, those prevailing for comparable transactions with unaffiliated persons and that do not involve more than the normal risk of repayment or present other unfavorable features; and
|
● |
not exceed certain limitations on the amount of credit extended to such persons, individually and in the aggregate, which limits are based, in part, on the amount of First Guaranty Bank's capital.
|
● |
Truth-In-Lending Act, governing disclosures of credit terms to consumer borrowers;
|
● |
Real Estate Settlement Procedures Act, requiring that borrowers for mortgage loans for one-to four-family residential real estate receive various disclosures, including good faith estimates of settlement costs, lender servicing and escrow account practices, and prohibiting certain practices that increase the cost of settlement services;
|
● |
Home Mortgage Disclosure Act, requiring financial institutions to provide information to enable the public and public officials to determine whether a financial institution is fulfilling its obligation to help meet the housing needs of the community it serves;
|
● |
Equal Credit Opportunity Act, prohibiting discrimination on the basis of race, creed or other prohibited factors in extending credit;
|
● |
Fair Credit Reporting Act, governing the use and provision of information to credit reporting agencies;
|
● |
Fair Debt Collection Act, governing the manner in which consumer debts may be collected by collection agencies;
|
● |
Truth in Savings Act; and
|
● |
Rules and regulations of the various federal agencies charged with the responsibility of implementing such federal laws.
|
● |
Right to Financial Privacy Act, which imposes a duty to maintain confidentiality of consumer financial records and prescribes procedures for complying with administrative subpoenas of financial records;
|
● |
Electronic Funds Transfer Act and Regulation E promulgated thereunder, which govern automatic deposits to and withdrawals from deposit accounts and customers' rights and liabilities arising from the use of automated teller machines and other electronic banking services;
|
● |
Check Clearing for the 21st Century Act (also known as "Check 21"), which gives "substitute checks," such as digital check images and copies made from that image, the same legal standing as the original paper check;
|
● |
USA PATRIOT Act, which requires banks operating to, among other things, establish broadened anti-money laundering compliance programs, due diligence policies and controls to ensure the detection and reporting of money laundering. Such required compliance programs are intended to supplement existing compliance requirements, also applicable to financial institutions, under the Bank Secrecy Act and the Office of Foreign Assets Control regulations; and
|
● |
Gramm-Leach-Bliley Act, which places limitations on the sharing of consumer financial information by financial institutions with unaffiliated third parties. Specifically, the Gramm-Leach-Bliley Act requires all financial institutions offering financial products or services to retail customers to provide such customers with the financial institution's privacy policy and provide such customers the opportunity to "opt out" of the sharing of certain personal financial information with unaffiliated third parties.
|
● |
finding suitable candidates for acquisition;
|
● |
attracting funding to support additional growth within acceptable risk tolerances;
|
● |
maintaining asset quality;
|
● |
retaining customers and key personnel;
|
● |
obtaining necessary regulatory approvals;
|
● |
conducting adequate due diligence and managing known and unknown risks and uncertainties;
|
● |
integrating acquired businesses; and
|
● |
maintaining adequate regulatory capital.
|
● |
we record interest income only on the cash basis or cost-recovery method for nonaccrual loans and we do not record interest income for other real estate owned;
|
● |
we must provide for probable loan losses through a current period charge to the provision for loan losses;
|
● |
noninterest expense increases when we write down the value of properties in our other real estate owned portfolio to reflect changing market values;
|
● |
there are legal fees associated with the resolution of problem assets, as well as carrying costs, such as taxes, insurance, and maintenance fees; and
|
● |
the resolution of non-performing assets requires the active involvement of management, which can distract them from more profitable activity.
|
● |
the base for FDIC insurance assessments has been changed to a bank's average consolidated total assets minus average tangible equity, rather than upon its deposit base, while the FDIC's authority to raise insurance premiums has been expanded;
|
● |
the current standard deposit insurance limit has been permanently raised to $250,000;
|
● |
the FDIC must raise the ratio of reserves to deposits from 1.15% to 1.35% for deposit insurance purposes by September 30, 2020 and to "offset the effect" of increased assessments on insured depository institutions with assets of less than $10.0 billion;
|
● |
the interchange fees payable on debit card transactions have been limited;
|
● |
there are multiple new provisions affecting corporate governance and executive compensation at all publicly traded companies; and
|
● |
all federal prohibitions on the ability of financial institutions to pay interest on commercial demand deposit accounts have been repealed.
|
● |
increased regulation of our industry;
|
● |
compliance with such regulation may increase our costs and limit our ability to pursue business opportunities;
|
● |
market developments and the resulting economic pressure on consumers may affect consumer confidence levels and may cause increases in delinquencies and default rates, which, among other effects, could affect our charge-offs and provision for loan losses. Competition in the industry could intensify as a result of the increasing consolidation of financial institutions in connection with the current market conditions;
|
● |
market disruptions make valuation even more difficult and subjective, and our ability to measure the fair value of our assets could be adversely affected. If we determine that a significant portion of our assets have values significantly below their recorded carrying value, we could recognize a material charge to earnings in the quarter in which such determination was made, our capital ratios would be adversely affected and a rating agency might downgrade our credit rating or put us on credit watch; and
|
● |
the downgrade of the United States government's sovereign credit rating, any related rating agency action in the future, and the downgrade of the sovereign credit ratings for several European nations could negatively impact our business, financial condition and results of operations.
|
● |
integrating personnel with diverse business backgrounds;
|
● |
converting customers to new systems;
|
● |
combining different corporate cultures; and
|
● |
retaining key employees.
|
Location
|
|
Use of Facilities
|
|
Year Facility
Opened or Acquired
|
|
Owned/Leased
|
First Guaranty Square
400 East Thomas Street
Hammond, LA 70401
|
|
First Guaranty Bank's Main Office
|
|
1975
|
|
Owned
|
2111 West Thomas Street
Hammond, LA 70401
|
|
Guaranty West Banking Center
|
|
1974
|
|
Owned
|
100 East Oak Street
Amite, LA 70422
|
|
Amite Banking Center
|
|
1970
|
|
Owned
|
455 West Railroad Avenue
Independence, LA 70443
|
|
Independence Banking Center
|
|
1979
|
|
Owned
|
301 Avenue F
Kentwood, LA 70444
|
|
Kentwood Banking Center
|
|
1975
|
|
Owned
|
189 Burt Blvd
Benton, LA 71006
|
|
Benton Banking Center
|
|
2010
|
|
Owned
|
126 South Hwy. 1
Oil City, LA 71061
|
|
Oil City Banking Center
|
|
1999
|
|
Owned
|
401 North 2nd Street
Homer, LA 71040
|
|
Homer Main Banking Center
|
|
1999
|
|
Owned
|
10065 Hwy 79
Haynesville, LA 71038
|
|
Haynesville Banking Center
|
|
1999
|
|
Owned
|
117 East Hico Street
Dubach, LA 71235
|
|
Dubach Banking Center
|
|
1999
|
|
Owned
|
102 East Louisiana Avenue
Vivian, LA 71082
|
|
Vivian Banking Center
|
|
1999
|
|
Owned
|
500 North Cary Avenue
Jennings, LA 70546
|
|
Jennings Banking Center
|
|
1999
|
|
Owned
|
799 West Summers Drive
Abbeville, LA 70510
|
|
Abbeville Banking Center
|
|
1999
|
|
Owned
|
105 Berryland
Ponchatoula, LA 70454
|
|
Berryland Banking Center
|
|
2004
|
|
Leased
|
2231 S. Range Avenue
Denham Springs, LA 70726
|
|
Denham Springs Banking Center
|
|
2005
|
|
Owned
|
500 West Pine Street
Ponchatoula, LA 70454
|
|
Ponchatoula Banking Center
|
|
2016
|
|
Owned
|
29815 Walker Rd S
Walker, LA 70785
|
|
Walker Banking Center
|
|
2007
|
|
Owned
|
6151 Hwy 10
Greensburg, LA 70441
|
|
Greensburg Banking Center
|
|
2011
|
|
Owned
|
723 Avenue G
Kentwood, LA 70444
|
|
Kentwood West Banking Center
|
|
2011
|
|
Owned
|
35651 Hwy 16
Montpelier, LA 70422
|
|
Montpelier Banking Center
|
|
2011
|
|
Owned
|
33818 Hwy 16
Denham Springs, LA 70706
|
|
Watson Banking Center
|
|
2011
|
|
Owned
|
8951 Synergy Dr. #100
McKinney, TX 75070
|
McKinney Banking Center
|
2017
|
Owned
|
|||
7600 Woodway Drive
Waco, TX 76712
|
Waco Banking Center
|
2017
|
Owned
|
|||
2209 W. University Dr.
Denton, TX 76201
|
Denton Banking Center
|
2017
|
Owned
|
|||
2001 N. Handley Ederville Road
Fort Worth, TX 76118
|
Fort Worth Banking Center
|
2017
|
Owned
|
|||
603 Main Street #101
Garland, TX 75040
|
Garland Banking Center
|
2017
|
Leased
|
|||
4221 Airline Drive
Bossier City, LA 71111
|
Bossier City Banking Center
|
2017
|
Owned
|
|
2017
|
2016
|
||||||||||||||||||||||
Quarter Ended*:
|
High
|
Low
|
Dividend
|
High
|
Low
|
Dividend
|
||||||||||||||||||
March 31,
|
$
|
22.00
|
$
|
21.37
|
$
|
0.16
|
$
|
16.83
|
$
|
15.50
|
$
|
0.16
|
||||||||||||
June 30,
|
$
|
24.82
|
$
|
24.69
|
$
|
0.16
|
$
|
16.15
|
$
|
15.95
|
$
|
0.16
|
||||||||||||
September 30,
|
$
|
24.55
|
$
|
24.24
|
$
|
0.16
|
$
|
16.41
|
$
|
16.17
|
$
|
0.16
|
||||||||||||
December 31,
|
$
|
25.02
|
$
|
24.63
|
$
|
0.16
|
$
|
23.93
|
$
|
23.32
|
$
|
0.16
|
* |
Data above has not been adjusted to reflect the ten percent stock dividend paid December 14, 2017 to shareholders of record as of December 8, 2017.
|
|
At or For the Years Ended December 31,
|
|||||||||||||||||||
(in thousands except for %)
|
2017
|
2016
|
2015
|
2014
|
2013
|
|||||||||||||||
Year End Balance Sheet Data:
|
||||||||||||||||||||
Investment securities
|
$
|
501,656
|
$
|
499,336
|
$
|
546,121
|
$
|
641,603
|
$
|
634,504
|
||||||||||
Federal funds sold
|
$
|
823
|
$
|
271
|
$
|
582
|
$
|
210
|
$
|
665
|
||||||||||
Loans, net of unearned income
|
$
|
1,149,014
|
$
|
948,921
|
$
|
841,583
|
$
|
790,321
|
$
|
703,166
|
||||||||||
Allowance for loan losses
|
$
|
9,225
|
$
|
11,114
|
$
|
9,415
|
$
|
9,105
|
$
|
10,355
|
||||||||||
Total assets
|
$
|
1,750,430
|
$
|
1,500,946
|
$
|
1,459,753
|
$
|
1,518,876
|
$
|
1,436,441
|
||||||||||
Total deposits
|
$
|
1,549,286
|
$
|
1,326,181
|
$
|
1,295,870
|
$
|
1,371,839
|
$
|
1,303,099
|
||||||||||
Borrowings
|
$
|
52,938
|
$
|
43,230
|
$
|
42,221
|
$
|
3,255
|
$
|
6,288
|
||||||||||
Shareholders' equity
|
$
|
143,983
|
$
|
124,349
|
$
|
118,224
|
$
|
139,583
|
$
|
123,405
|
||||||||||
Common shareholders' equity
|
$
|
143,983
|
$
|
124,349
|
$
|
118,224
|
$
|
100,148
|
$
|
83,970
|
||||||||||
|
||||||||||||||||||||
Performance Ratios and Other Data:
|
||||||||||||||||||||
Return on average assets
|
0.71
|
%
|
0.97
|
%
|
0.97
|
%
|
0.77
|
%
|
0.65
|
%
|
||||||||||
Return on average common equity
|
8.59
|
%
|
11.18
|
%
|
12.98
|
%
|
11.40
|
%
|
9.31
|
%
|
||||||||||
Return on average tangible assets
|
0.73
|
%
|
0.98
|
%
|
0.99
|
%
|
0.79
|
%
|
0.67
|
%
|
||||||||||
Return on average tangible common equity
|
9.15
|
%
|
11.64
|
%
|
13.60
|
%
|
12.10
|
%
|
9.99
|
%
|
||||||||||
Net interest margin
|
3.33
|
%
|
3.39
|
%
|
3.26
|
%
|
3.11
|
%
|
2.92
|
%
|
||||||||||
Average loans to average deposits
|
72.23
|
%
|
68.57
|
%
|
61.31
|
%
|
55.72
|
%
|
53.58
|
%
|
||||||||||
Efficiency ratio(1)
|
62.64
|
%
|
56.85
|
%
|
55.11
|
%
|
62.85
|
%
|
65.61
|
%
|
||||||||||
Efficiency ratio (excluding amortization of intangibles and securities transactions)(1)
|
63.38
|
%
|
60.19
|
%
|
57.74
|
%
|
62.58
|
%
|
67.17
|
%
|
||||||||||
Full time equivalent employees (year end)
|
338
|
293
|
277
|
271
|
278
|
|
At or For the Years Ended December 31,
|
|||||||||||||||||||
(in thousands except for % and share data)
|
2017
|
2016
|
2015
|
2014
|
2013
|
|||||||||||||||
Capital Ratios:
|
||||||||||||||||||||
Average shareholders' equity to average assets
|
8.31
|
%
|
8.63
|
%
|
9.88
|
%
|
9.24
|
%
|
9.28
|
%
|
||||||||||
Average tangible equity to average tangible assets
|
8.01
|
%
|
8.44
|
%
|
9.67
|
%
|
9.00
|
%
|
9.02
|
%
|
||||||||||
Common shareholders' equity to total assets
|
8.23
|
%
|
8.28
|
%
|
8.10
|
%
|
6.59
|
%
|
5.85
|
%
|
||||||||||
Tier 1 leverage capital consolidated
|
8.27
|
%
|
8.68
|
%
|
8.17
|
%
|
9.33
|
%
|
9.14
|
%
|
||||||||||
Tier 1 capital consolidated
|
10.35
|
%
|
10.59
|
%
|
10.85
|
%
|
13.16
|
%
|
13.61
|
%
|
||||||||||
Total risk-based capital consolidated
|
12.14
|
%
|
12.79
|
%
|
13.13
|
%
|
14.05
|
%
|
14.71
|
%
|
||||||||||
Common equity tier one capital consolidated
|
10.35
|
%
|
10.59
|
%
|
10.85
|
%
|
N/A
|
N/A
|
||||||||||||
Tangible common equity to tangible assets(2)
|
7.87
|
%
|
8.10
|
%
|
7.89
|
%
|
6.37
|
%
|
5.59
|
%
|
||||||||||
|
||||||||||||||||||||
Income Data:
|
||||||||||||||||||||
Interest income
|
$
|
67,546
|
$
|
58,532
|
$
|
56,079
|
$
|
53,297
|
$
|
50,886
|
||||||||||
Interest expense
|
$
|
14,393
|
$
|
10,140
|
$
|
8,608
|
$
|
9,202
|
$
|
11,134
|
||||||||||
Net interest income
|
$
|
53,153
|
$
|
48,392
|
$
|
47,471
|
$
|
44,095
|
$
|
39,752
|
||||||||||
Provision for loan losses
|
$
|
3,822
|
$
|
3,705
|
$
|
3,864
|
$
|
1,962
|
$
|
2,520
|
||||||||||
Noninterest income (excluding securities transactions)
|
$
|
6,943
|
$
|
5,656
|
$
|
5,656
|
$
|
5,882
|
$
|
5,907
|
||||||||||
Securities gains
|
$
|
1,397
|
$
|
3,799
|
$
|
3,300
|
$
|
295
|
$
|
1,571
|
||||||||||
Noninterest expense
|
$
|
38,521
|
$
|
32,885
|
$
|
31,095
|
$
|
31,594
|
$
|
30,987
|
||||||||||
Earnings before income taxes
|
$
|
19,150
|
$
|
21,257
|
$
|
21,468
|
$
|
16,716
|
$
|
13,723
|
||||||||||
Net income
|
$
|
11,751
|
$
|
14,093
|
$
|
14,505
|
$
|
11,224
|
$
|
9,146
|
||||||||||
Net income available to common shareholders
|
$
|
11,751
|
$
|
14,093
|
$
|
14,121
|
$
|
10,830
|
$
|
8,433
|
||||||||||
|
||||||||||||||||||||
Per Common Share Data(4):
|
||||||||||||||||||||
Net earnings
|
$
|
1.37
|
$
|
1.68
|
$
|
1.83
|
$
|
1.42
|
$
|
1.11
|
||||||||||
Cash dividends paid
|
$
|
0.60
|
$
|
0.58
|
$
|
0.54
|
$
|
0.53
|
$
|
0.53
|
||||||||||
Book value
|
$
|
16.35
|
$
|
14.86
|
$
|
14.13
|
$
|
13.16
|
$
|
11.03
|
||||||||||
Tangible book value (3)
|
$
|
15.59
|
$
|
14.50
|
$
|
13.73
|
$
|
12.68
|
$
|
10.52
|
||||||||||
Dividend payout ratio
|
44.34
|
%
|
34.56
|
%
|
30.07
|
%
|
37.18
|
%
|
47.75
|
%
|
||||||||||
Weighted average number of shares outstanding
|
8,608,088
|
8,369,424
|
7,714,620
|
7,611,397
|
7,611,397
|
|||||||||||||||
Number of shares outstanding
|
8,807,175
|
8,369,424
|
8,369,424
|
7,611,397
|
7,611,397
|
|||||||||||||||
|
||||||||||||||||||||
Asset Quality Ratios:
|
||||||||||||||||||||
Non-performing assets to total assets
|
0.84
|
%
|
1.48
|
%
|
1.51
|
%
|
0.99
|
%
|
1.27
|
%
|
||||||||||
Non-performing assets to total loans
|
1.28
|
%
|
2.34
|
%
|
2.62
|
%
|
1.90
|
%
|
2.60
|
%
|
||||||||||
Non-performing loans to total loans
|
1.17
|
%
|
2.30
|
%
|
2.43
|
%
|
1.62
|
%
|
2.12
|
%
|
||||||||||
Loan loss reserve to non-performing assets
|
62.88
|
%
|
50.04
|
%
|
42.74
|
%
|
60.74
|
%
|
56.72
|
%
|
||||||||||
Net charge-offs to average loans
|
0.54
|
%
|
0.23
|
%
|
0.44
|
%
|
0.45
|
%
|
0.38
|
%
|
||||||||||
Provision for loan loss to average loans
|
0.36
|
%
|
0.42
|
%
|
0.47
|
%
|
0.27
|
%
|
0.38
|
%
|
||||||||||
Allowance for loan loss to total loans
|
0.80
|
%
|
1.17
|
%
|
1.12
|
%
|
1.15
|
%
|
1.47
|
%
|
(1) |
Efficiency ratio represents noninterest expense divided by the sum of net interest income and noninterest income. We calculate both a GAAP and a non-GAAP efficiency ratio. The GAAP-based efficiency ratio is noninterest expenses divided by net interest income plus noninterest income. See below for our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures under the caption "Selected Financial Data—Non-GAAP Financial Measures."
|
(2) |
We calculate tangible common equity as total shareholders' equity less preferred stock, goodwill and acquisition intangibles, principally core deposit intangibles, net of accumulated amortization, and we calculate tangible assets as total assets less goodwill and core deposit intangibles. Tangible common equity to tangible assets is a non-GAAP financial measure, and, as we calculate tangible common equity to tangible assets, the most directly comparable GAAP financial measure is total shareholders' equity to total assets. See below for our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures under the caption "Selected Historical Consolidated Financial and Other Data—Non-GAAP Financial Measures."
|
(3) |
We calculate tangible book value per common share as total shareholders' equity less preferred stock, goodwill and acquisition intangibles, principally core deposit intangibles, net of accumulated amortization at the end of the relevant period, divided by the outstanding number of shares of our common stock at the end of the relevant period. Tangible book value per common share is a non-GAAP financial measure, and, as we calculate tangible book value per common share, the most directly comparable GAAP financial measure is book value per common share. See below for our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures under the caption "Selected Financial Data—Non-GAAP Financial Measures."
|
(4) |
Historical share and per share amounts have been adjusted to reflect the ten percent stock dividend paid December 14, 2017 to shareholders of record as of December 8, 2017.
|
|
At December 31,
|
|||||||||||||||||||
(in thousands except for share data and %)
|
2017
|
2016
|
2015
|
2014
|
2013
|
|||||||||||||||
Tangible Common Equity
|
||||||||||||||||||||
Total shareholders' equity
|
$
|
143,983
|
$
|
124,349
|
$
|
118,224
|
$
|
139,583
|
$
|
123,405
|
||||||||||
Adjustments:
|
||||||||||||||||||||
Preferred
|
-
|
-
|
-
|
39,435
|
39,435
|
|||||||||||||||
Goodwill
|
3,472
|
1,999
|
1,999
|
1,999
|
1,999
|
|||||||||||||||
Acquisition intangibles
|
3,249
|
978
|
1,298
|
1,618
|
1,938
|
|||||||||||||||
Tangible common equity
|
$
|
137,262
|
$
|
121,372
|
$
|
114,927
|
$
|
96,531
|
$
|
80,033
|
||||||||||
Common shares outstanding
|
8,807,175
|
8,369,424
|
8,369,424
|
7,611,397
|
7,611,397
|
|||||||||||||||
Book value per common share
|
$
|
16.35
|
$
|
14.86
|
$
|
14.13
|
$
|
13.16
|
$
|
11.03
|
||||||||||
Tangible book value per common share
|
$
|
15.59
|
$
|
14.50
|
$
|
13.73
|
$
|
12.68
|
$
|
10.52
|
||||||||||
Tangible Assets
|
||||||||||||||||||||
Total Assets
|
$
|
1,750,430
|
$
|
1,500,946
|
$
|
1,459,753
|
$
|
1,518,876
|
$
|
1,436,441
|
||||||||||
Adjustments:
|
||||||||||||||||||||
Goodwill
|
3,472
|
1,999
|
1,999
|
1,999
|
1,999
|
|||||||||||||||
Acquisition intangibles
|
3,249
|
978
|
1,298
|
1,618
|
1,938
|
|||||||||||||||
Tangible Assets
|
$
|
1,743,709
|
$
|
1,497,969
|
$
|
1,456,456
|
$
|
1,515,259
|
$
|
1,432,504
|
||||||||||
Tangible common equity to tangible assets
|
7.87
|
%
|
8.10
|
%
|
7.89
|
%
|
6.37
|
%
|
5.59
|
%
|
|
For the Year Ended December 31,
|
|||||||||||||||||||
(in thousands except for share data and %)
|
2017
|
2016
|
2015
|
2014
|
2013
|
|||||||||||||||
GAAP-based efficiency ratio
|
62.64
|
%
|
56.85
|
%
|
55.11
|
%
|
62.85
|
%
|
65.61
|
%
|
||||||||||
Noninterest expense
|
$
|
38,521
|
$
|
32,885
|
$
|
31,095
|
$
|
31,594
|
$
|
30,987
|
||||||||||
Amortization of intangibles
|
432
|
320
|
320
|
320
|
320
|
|||||||||||||||
Noninterest expense, excluding amortization
|
38,089
|
32,565
|
30,775
|
31,274
|
30,667
|
|||||||||||||||
Net interest income
|
53,153
|
48,392
|
47,471
|
44,095
|
39,752
|
|||||||||||||||
Noninterest income
|
8,340
|
9,455
|
8,956
|
6,177
|
7,478
|
|||||||||||||||
Adjustments:
|
||||||||||||||||||||
Securities transactions
|
1,397
|
3,739
|
3,125
|
295
|
1,571
|
|||||||||||||||
Noninterest income, excluding securities transactions
|
$
|
6,943
|
$
|
5,716
|
$
|
5,831
|
$
|
5,882
|
$
|
5,907
|
||||||||||
Efficiency ratio
|
63.38
|
%
|
60.19
|
%
|
57.74
|
%
|
62.58
|
%
|
67.17
|
%
|
● |
During the fourth quarter of 2017, First Guaranty elected to become a financial holding company because First Guaranty acquired a fifty percent ownership in an insurance brokerage in November 2017.
|
● |
First Guaranty completed its merger with Premier Bancshares, Inc. ("Premier") and its wholly owned subsidiary, Synergy Bank, on June 16, 2017. First Guaranty acquired a total of $158.3 million in assets and assumed an $137.4 million in liabilities. First Guaranty issued 397,988 shares of its common stock at a price of $25.86 and paid $10.3 million in cash to Premier shareholders (unadjusted for the 10% stock dividend in December 2017). Total consideration was $21.0 million. First Guaranty acquired a total of $128.0 million in loans, securities of $5.9 million, cash and due from banks of $4.5 million, Fed funds sold of $2.9 million, premises of $9.5 million, other real estate owned of $0.2 million and other assets that totaled $2.0 million. Intangibles recorded from the transaction were a total of $5.3 million, including goodwill of $1.5 million. Total assumed liabilities included deposits of $127.2 million, an FHLB advance of $9.7 million and other liabilities of $0.4 million. Expenses related to the merger totaled $1.4 million in 2017.
|
● |
Total assets at December 31, 2017 increased $249.5 million, or 16.6%, to $1.8 billion when compared to December 31, 2016. Total loans at December 31, 2017 were $1.1 billion, an increase of $200.1 million, or 21.1%, compared with December 31, 2016. Common shareholders' equity was $144.0 million and $124.3 million at December 31, 2017 and 2016, respectively.
|
● |
Net income for the years ended December 31, 2017 and 2016 was $11.8 million and $14.1 million, respectively.
|
● |
Earnings per common share were $1.37 and $1.68 for the years ended December 31, 2017 and 2016, respectively. Total weighted average shares outstanding were 8,608,088 at December 31, 2017 compared to 8,369,424 at December 31, 2016. The change in shares was due to First Guaranty's acquisition of Premier in June 2017 and the 10% common stock dividend issued in December 2017.
|
● |
Net interest income for 2017 was $53.2 million compared to $48.4 million for 2016.
|
● |
The provision for loan losses totaled $3.8 million for 2017 compared to $3.7 million in 2016.
|
● |
The net interest margin for 2017 was 3.33%, which was a decrease of six basis points from the net interest margin of 3.39% for 2016. First Guaranty attributed the decrease in the net interest margin to a rise in interest expense associated with deposits.
|
● |
Investment securities totaled $501.7 million at December 31, 2017, an increase of $2.3 million when compared to $499.3 million at December 31, 2016. At December 31, 2017, available for sale securities, at fair value, totaled $381.5 million, a decrease of $15.9 million when compared to $397.5 million at December 31, 2016. At December 31, 2017, held to maturity securities, at amortized cost, totaled $120.1 million, an increase of $18.3 million when compared to $101.9 million at December 31, 2016.
|
● |
Total loans net of unearned income were $1.1 billion at December 31, 2017 compared to $948.9 million at December 31, 2016. The net loan portfolio at December 31, 2017 totaled $1.1 billion, a net increase of $202.0 million from $937.8 million at December 31, 2016. Total loans net of unearned income are reduced by the allowance for loan losses which totaled $9.2 million at December 31, 2017 and $11.1 million at December 31, 2016.
|
● |
Total impaired loans decreased $13.2 million to $15.6 million at December 31, 2017 compared to $28.8 million at December 31, 2016.
|
● |
Nonaccrual loans decreased $9.1 million to $12.6 million at December 31, 2017 compared to $21.7 million at December 31, 2016.
|
● |
The allowance for loan losses was 0.80% of loans at December 31, 2017. The allowance for loan losses as a percentage of total loans was 0.90% prior to the inclusion of the acquired loans from Premier.
|
● |
Return on average assets was 0.71% and 0.97% for the years ended December 31, 2017 and 2016, respectively. Return on average common equity was 8.59% and 11.18% for 2017 and 2016, respectively. Return on average assets is calculated by dividing net income before preferred dividends by average assets. Return on average common equity is calculated by dividing net income to common shareholders by average common equity.
|
● |
Book value per common share was $16.35 as of December 31, 2017 compared to $14.86 as of December 31, 2016. Tangible book value per common share was $15.59 as of December 31, 2017 compared to $14.50 as of December 31, 2016.
|
● |
The increase in book value was due primarily to the issuance of shares related to the acquisition of Premier adjusted for the 10% common stock dividend, the changes in accumulated other comprehensive income/loss ("AOCI") and an increase in retained earnings. AOCI is comprised of unrealized gains and losses on available for sale securities.
|
● |
First Guaranty's Board of Directors declared and First Guaranty paid cash dividends of $0.60 and $0.58 per common share in 2017 and 2016. First Guaranty has paid 98 consecutive quarterly dividends as of December 31, 2017.
|
● |
On December 22, 2017, the Tax Cuts and Jobs Act (the "Tax Act") was signed into law. The Tax Act permanently lowers the federal corporate income tax rate to 21% from the existing maximum rate of 35%, effective January 1, 2018. First Guaranty recorded a one-time income tax expense of $0.9 million in 2017 related to the estimated net impact from the remeasurement of deferred tax assets and liabilities.
|
|
At December 31,
|
|||||||||||||||||||||||||||||||||||||||
|
2017
|
2016
|
2015
|
2014
|
2013
|
|||||||||||||||||||||||||||||||||||
(in thousands except for %)
|
Amount
|
Percent
|
Amount
|
Percent
|
Amount
|
Percent
|
Amount
|
Percent
|
Amount
|
Percent
|
||||||||||||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||||||||||||||||||
Construction & land development
|
$
|
112,603
|
9.8
|
%
|
$
|
84,239
|
8.9
|
%
|
$
|
56,132
|
6.6
|
%
|
$
|
52,094
|
6.6
|
%
|
$
|
47,550
|
6.7
|
%
|
||||||||||||||||||||
Farmland
|
25,691
|
2.2
|
%
|
21,138
|
2.2
|
%
|
17,672
|
2.1
|
%
|
13,539
|
1.7
|
%
|
9,826
|
1.4
|
%
|
|||||||||||||||||||||||||
1- 4 Family
|
158,733
|
13.8
|
%
|
135,211
|
14.2
|
%
|
129,610
|
15.4
|
%
|
118,181
|
14.9
|
%
|
103,764
|
14.7
|
%
|
|||||||||||||||||||||||||
Multi-family
|
16,840
|
1.4
|
%
|
12,450
|
1.3
|
%
|
12,629
|
1.5
|
%
|
14,323
|
1.8
|
%
|
13,771
|
2.0
|
%
|
|||||||||||||||||||||||||
Non-farm non-residential
|
540,231
|
46.9
|
%
|
417,014
|
43.9
|
%
|
323,363
|
38.3
|
%
|
328,400
|
41.5
|
%
|
336,071
|
47.7
|
%
|
|||||||||||||||||||||||||
Total Real Estate
|
854,098
|
74.1
|
%
|
670,052
|
70.5
|
%
|
539,406
|
63.9
|
%
|
526,537
|
66.5
|
%
|
510,982
|
72.5
|
%
|
|||||||||||||||||||||||||
Non-real Estate:
|
||||||||||||||||||||||||||||||||||||||||
Agricultural
|
21,514
|
1.9
|
%
|
23,783
|
2.5
|
%
|
25,838
|
3.1
|
%
|
26,278
|
3.3
|
%
|
21,749
|
3.1
|
%
|
|||||||||||||||||||||||||
Commercial and industrial
|
220,700
|
19.2
|
%
|
193,969
|
20.4
|
%
|
224,201
|
26.6
|
%
|
196,339
|
24.8
|
%
|
151,087
|
21.4
|
%
|
|||||||||||||||||||||||||
Consumer and other
|
55,185
|
4.8
|
%
|
63,011
|
6.6
|
%
|
54,163
|
6.4
|
%
|
42,991
|
5.4
|
%
|
20,917
|
3.0
|
%
|
|||||||||||||||||||||||||
Total Non-real Estate
|
297,399
|
25.9
|
%
|
280,763
|
29.5
|
%
|
304,202
|
36.1
|
%
|
265,608
|
33.5
|
%
|
193,753
|
27.5
|
%
|
|||||||||||||||||||||||||
Total Loans Before Unearned Income
|
1,151,497
|
100.0
|
%
|
950,815
|
100.0
|
%
|
843,608
|
100.0
|
%
|
792,145
|
100.0
|
%
|
704,735
|
100.0
|
%
|
|||||||||||||||||||||||||
Less: Unearned income
|
(2,483
|
)
|
(1,894
|
)
|
(2,025
|
)
|
(1,824
|
)
|
(1,569
|
)
|
||||||||||||||||||||||||||||||
Total Loans Net of Unearned Income
|
$
|
1,149,014
|
$
|
948,921
|
$
|
841,583
|
$
|
790,321
|
$
|
703,166
|
|
December 31, 2017
|
|||||||||||||||
(in thousands)
|
One Year or Less
|
More Than One Year
Through Five Years
|
After Five Years
|
Total
|
||||||||||||
Real Estate:
|
||||||||||||||||
Construction & land development
|
$
|
22,729
|
$
|
71,796
|
$
|
18,078
|
$
|
112,603
|
||||||||
Farmland
|
4,693
|
15,628
|
5,370
|
25,691
|
||||||||||||
1 - 4 family
|
16,054
|
47,614
|
95,065
|
158,733
|
||||||||||||
Multi-family
|
1,962
|
11,746
|
3,132
|
16,840
|
||||||||||||
Non-farm non-residential
|
56,734
|
290,654
|
192,843
|
540,231
|
||||||||||||
Total Real Estate
|
102,172
|
437,438
|
314,488
|
854,098
|
||||||||||||
Non-real Estate:
|
||||||||||||||||
Agricultural
|
7,923
|
4,613
|
8,978
|
21,514
|
||||||||||||
Commercial and industrial
|
40,145
|
170,103
|
10,452
|
220,700
|
||||||||||||
Consumer and other
|
19,223
|
35,616
|
346
|
55,185
|
||||||||||||
Total Non-Real Estate
|
67,291
|
210,332
|
19,776
|
297,399
|
||||||||||||
Total Loans Before Unearned Income
|
$
|
169,463
|
$
|
647,770
|
$
|
334,264
|
1,151,497
|
|||||||||
Less: unearned income
|
(2,483
|
)
|
||||||||||||||
Total Loans Net of Unearned Income
|
$
|
1,149,014
|
|
December 31, 2016
|
|||||||||||||||
(in thousands)
|
One Year or Less
|
More Than One Year
Through Five Years
|
After Five Years
|
Total
|
||||||||||||
Real Estate:
|
||||||||||||||||
Construction & land development
|
$
|
25,096
|
$
|
49,820
|
$
|
9,323
|
$
|
84,239
|
||||||||
Farmland
|
8,833
|
4,584
|
7,721
|
21,138
|
||||||||||||
1 - 4 family
|
13,476
|
42,778
|
78,957
|
135,211
|
||||||||||||
Multi-family
|
642
|
8,629
|
3,179
|
12,450
|
||||||||||||
Non-farm non-residential
|
53,408
|
258,300
|
105,306
|
417,014
|
||||||||||||
Total Real Estate
|
101,455
|
364,111
|
204,486
|
670,052
|
||||||||||||
Non-real Estate:
|
||||||||||||||||
Agricultural
|
9,964
|
4,340
|
9,479
|
23,783
|
||||||||||||
Commercial and industrial
|
22,667
|
163,802
|
7,500
|
193,969
|
||||||||||||
Consumer and other
|
19,446
|
43,202
|
363
|
63,011
|
||||||||||||
Total Non-Real Estate
|
52,077
|
211,344
|
17,342
|
280,763
|
||||||||||||
Total Loans Before Unearned Income
|
$
|
153,532
|
$
|
575,455
|
$
|
221,828
|
950,815
|
|||||||||
Less: unearned income
|
(1,894
|
)
|
||||||||||||||
Total Loans Net of Unearned Income
|
$
|
948,921
|
|
Due After December 31, 2017
|
|||||||||||
(in thousands)
|
Fixed
|
Floating
|
Total
|
|||||||||
One to five years
|
390,333
|
251,135
|
641,468
|
|||||||||
Over Five to 15 years
|
124,215
|
70,273
|
194,488
|
|||||||||
Over 15 years
|
70,366
|
67,881
|
138,247
|
|||||||||
Subtotal
|
$
|
584,914
|
$
|
389,289
|
$
|
974,203
|
||||||
Nonaccrual loans
|
12,550
|
|||||||||||
Total
|
$
|
961,653
|
|
December 31,
|
|||||||||||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
2014
|
2013
|
|||||||||||||||
Nonaccrual loans:
|
||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||
Construction and land development
|
$
|
371
|
$
|
551
|
$
|
558
|
$
|
486
|
$
|
73
|
||||||||||
Farmland
|
65
|
105
|
117
|
153
|
130
|
|||||||||||||||
1 - 4 family
|
1,953
|
2,242
|
4,538
|
3,819
|
4,248
|
|||||||||||||||
Multi-family
|
-
|
5,014
|
9,045
|
-
|
-
|
|||||||||||||||
Non-farm non-residential
|
3,758
|
2,753
|
2,934
|
4,993
|
7,539
|
|||||||||||||||
Total Real Estate
|
6,147
|
10,665
|
17,192
|
9,451
|
11,990
|
|||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||
Agricultural
|
1,496
|
1,958
|
2,628
|
832
|
526
|
|||||||||||||||
Commercial and industrial
|
4,826
|
8,070
|
48
|
1,907
|
1,946
|
|||||||||||||||
Consumer and other
|
81
|
981
|
171
|
4
|
23
|
|||||||||||||||
Total Non-Real Estate
|
6,403
|
11,009
|
2,847
|
2,743
|
2,495
|
|||||||||||||||
Total nonaccrual loans
|
12,550
|
21,674
|
20,039
|
12,194
|
14,485
|
|||||||||||||||
|
||||||||||||||||||||
Loans 90 days and greater delinquent & still accruing:
|
||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||
Construction and land development
|
-
|
34
|
-
|
-
|
-
|
|||||||||||||||
Farmland
|
-
|
-
|
19
|
-
|
-
|
|||||||||||||||
1 - 4 family
|
-
|
145
|
391
|
599
|
414
|
|||||||||||||||
Multi-family
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Non-farm non-residential
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Total Real Estate
|
-
|
179
|
410
|
599
|
414
|
|||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||
Agricultural
|
41
|
-
|
-
|
-
|
-
|
|||||||||||||||
Commercial and industrial
|
798
|
-
|
-
|
-
|
-
|
|||||||||||||||
Consumer and other
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Total Non-Real Estate
|
839
|
-
|
-
|
-
|
-
|
|||||||||||||||
Total loans 90 days and greater delinquent & still accruing
|
839
|
179
|
410
|
599
|
414
|
|||||||||||||||
|
||||||||||||||||||||
Total non-performing loans
|
$
|
13,389
|
$
|
21,853
|
$
|
20,449
|
$
|
12,793
|
$
|
14,899
|
||||||||||
|
||||||||||||||||||||
Other real estate owned and foreclosed assets:
|
||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||
Construction and land development
|
304
|
-
|
25
|
127
|
754
|
|||||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
1 - 4 family
|
23
|
71
|
880
|
1,121
|
1,803
|
|||||||||||||||
Multi-family
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Non-farm non-residential
|
954
|
288
|
672
|
950
|
800
|
|||||||||||||||
Total Real Estate
|
1,281
|
359
|
1,577
|
2,198
|
3,357
|
|||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||
Agricultural
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Commercial and industrial
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Consumer and other
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Total Non-Real estate
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Total other real estate owned and foreclosed assets
|
1,281
|
359
|
1,577
|
2,198
|
3,357
|
|||||||||||||||
|
||||||||||||||||||||
Total non-performing assets
|
$
|
14,670
|
$
|
22,212
|
$
|
22,026
|
$
|
14,991
|
$
|
18,256
|
||||||||||
|
||||||||||||||||||||
Non-performing assets to total loans
|
1.28
|
%
|
2.34
|
%
|
2.62
|
%
|
1.90
|
%
|
2.60
|
%
|
||||||||||
Non-performing assets to total assets
|
0.84
|
%
|
1.48
|
%
|
1.51
|
%
|
0.99
|
%
|
1.27
|
%
|
||||||||||
Non-performing loans to total loans
|
1.17
|
%
|
2.30
|
%
|
2.43
|
%
|
1.62
|
%
|
2.12
|
%
|
|
At December 31,
|
|||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
|||||||||
TDRs:
|
||||||||||||
In Compliance with Modified Terms
|
$
|
2,138
|
$
|
2,987
|
$
|
3,431
|
||||||
Past Due 30 through 89 days and still accruing
|
-
|
-
|
-
|
|||||||||
Past Due 90 days and greater and still accruing
|
-
|
-
|
-
|
|||||||||
Nonaccrual
|
334
|
361
|
368
|
|||||||||
Restructured Loans that subsequently defaulted
|
-
|
100
|
1,908
|
|||||||||
Total TDR
|
$
|
2,472
|
$
|
3,448
|
$
|
5,707
|
|
At December 31,
|
|||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
|||||||||
Classification of Loans:
|
||||||||||||
Substandard
|
$
|
49,495
|
$
|
41,992
|
$
|
58,654
|
||||||
Doubtful
|
4,560
|
7,730
|
-
|
|||||||||
Total Classified Assets
|
$
|
54,055
|
$
|
49,722
|
$
|
58,654
|
||||||
Special Mention
|
$
|
25,929
|
$
|
17,705
|
$
|
10,752
|
● |
past due and non-performing assets;
|
● |
specific internal analysis of loans requiring special attention;
|
● |
the current level of regulatory classified and criticized assets and the associated risk factors with each;
|
● |
changes in underwriting standards or lending procedures and policies;
|
● |
charge-off and recovery practices;
|
● |
national and local economic and business conditions;
|
● |
nature and volume of loans;
|
● |
overall portfolio quality;
|
● |
adequacy of loan collateral;
|
● |
quality of loan review system and degree of oversight by our board of directors;
|
● |
competition and legal and regulatory requirements on borrowers;
|
● |
examinations of the loan portfolio by federal and state regulatory agencies and examinations; and
|
● |
review by our internal loan review department and independent accountants.
|
|
At or For the Years Ended December 31,
|
|||||||||||||||||||
(dollars in thousands)
|
2017
|
2016
|
2015
|
2014
|
2013
|
|||||||||||||||
Balance at beginning of year
|
$
|
11,114
|
$
|
9,415
|
$
|
9,105
|
$
|
10,355
|
$
|
10,342
|
||||||||||
|
||||||||||||||||||||
Charge-offs:
|
||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||
Construction and land development
|
-
|
-
|
(559
|
)
|
(1,032
|
)
|
(233
|
)
|
||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
(31
|
)
|
||||||||||||||
1 - 4 family residential
|
(33
|
)
|
(244
|
)
|
(410
|
)
|
(589
|
)
|
(220
|
)
|
||||||||||
Multi-family
|
-
|
-
|
(947
|
)
|
-
|
-
|
||||||||||||||
Non-farm non-residential
|
(1,291
|
)
|
(1,373
|
)
|
(1,137
|
)
|
(1,515
|
)
|
(1,148
|
)
|
||||||||||
Total Real Estate
|
(1,324
|
)
|
(1,617
|
)
|
(3,053
|
)
|
(3,136
|
)
|
(1,632
|
)
|
||||||||||
Non-Real Estate:
|
||||||||||||||||||||
Agricultural
|
(162
|
)
|
(83
|
)
|
(491
|
)
|
(2
|
)
|
(41
|
)
|
||||||||||
Commercial and industrial loans
|
(3,629
|
)
|
(579
|
)
|
(79
|
)
|
(266
|
)
|
(1,098
|
)
|
||||||||||
Consumer and other
|
(1,247
|
)
|
(635
|
)
|
(550
|
)
|
(289
|
)
|
(262
|
)
|
||||||||||
Total Non-Real Estate
|
(5,038
|
)
|
(1,297
|
)
|
(1,120
|
)
|
(557
|
)
|
(1,401
|
)
|
||||||||||
Total charge-offs
|
(6,362
|
)
|
(2,914
|
)
|
(4,173
|
)
|
(3,693
|
)
|
(3,033
|
)
|
||||||||||
|
||||||||||||||||||||
Recoveries:
|
||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||
Construction and land development
|
43
|
4
|
5
|
6
|
10
|
|||||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
140
|
|||||||||||||||
1 - 4 family residential
|
92
|
45
|
94
|
99
|
49
|
|||||||||||||||
Multi-family
|
40
|
401
|
46
|
49
|
-
|
|||||||||||||||
Non-farm non-residential
|
85
|
16
|
5
|
9
|
8
|
|||||||||||||||
Total Real Estate
|
260
|
466
|
150
|
163
|
207
|
|||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||
Agricultural
|
138
|
113
|
3
|
1
|
5
|
|||||||||||||||
Commercial and industrial loans
|
30
|
146
|
315
|
118
|
71
|
|||||||||||||||
Consumer and other
|
223
|
183
|
151
|
199
|
243
|
|||||||||||||||
Total Non-Real Estate
|
391
|
442
|
469
|
318
|
319
|
|||||||||||||||
Total recoveries
|
651
|
908
|
619
|
481
|
526
|
|||||||||||||||
|
||||||||||||||||||||
Net (charge-offs) recoveries
|
(5,711
|
)
|
(2,006
|
)
|
(3,554
|
)
|
(3,212
|
)
|
(2,507
|
)
|
||||||||||
Provision for loan losses
|
3,822
|
3,705
|
3,864
|
1,962
|
2,520
|
|||||||||||||||
|
||||||||||||||||||||
Balance at end of year
|
$
|
9,225
|
$
|
11,114
|
$
|
9,415
|
$
|
9,105
|
$
|
10,355
|
||||||||||
|
||||||||||||||||||||
Ratios:
|
||||||||||||||||||||
Net loan charge-offs to average loans
|
0.54
|
%
|
0.23
|
%
|
0.44
|
%
|
0.45
|
%
|
0.38
|
%
|
||||||||||
Net loan charge-offs to loans at end of year
|
0.50
|
%
|
0.21
|
%
|
0.42
|
%
|
0.41
|
%
|
0.36
|
%
|
||||||||||
Allowance for loan losses to loans at end of year
|
0.80
|
%
|
1.17
|
%
|
1.12
|
%
|
1.15
|
%
|
1.47
|
%
|
||||||||||
Net loan charge-offs to allowance for loan losses
|
61.91
|
%
|
18.05
|
%
|
37.75
|
%
|
35.28
|
%
|
24.21
|
%
|
||||||||||
Net loan charge-offs to provision charged to expense
|
149.42
|
%
|
54.14
|
%
|
91.98
|
%
|
163.71
|
%
|
99.48
|
%
|
● |
First Guaranty charged off $0.7 million on a non-real estate commercial lease in the second quarter of 2017. This loan had no remaining principal balance at December 31, 2017.
|
● |
First Guaranty charged off $0.5 million on a non-farm non-residential real estate loan in the second quarter of 2017. This loan had no remaining principal balance at December 31, 2017.
|
● |
First Guaranty charged off $3.2 million on a commercial and industrial loan relationship in 2017. This relationship had a remaining principal balance of $4.6 million with a specific reserve of $0.5 million at December 31, 2017.
|
● |
First Guaranty charged off $0.4 million on a non-farm non-residential real estate loan in the fourth quarter of 2017. This loan had a remaining principal balance of $3.1 million at December 31, 2017.
|
● |
First Guaranty charged off $0.2 million on a commercial and industrial loan in the fourth quarter of 2017. This loan had no remaining principal balance at December 31, 2017.
|
● |
$1.4 million of charge-offs for 2017 were comprised of smaller loans and overdrawn deposit accounts.
|
|
At December 31,
|
|||||||||||||||||||||||
|
2017
|
2016
|
||||||||||||||||||||||
(dollars in thousands)
|
Allowance for
Loan Losses
|
Percent of Allowance
to Total Allowance
for Loan Losses
|
Percent of Loans
in Each Category
to Total Loans
|
Allowance for
Loan Losses
|
Percent of Allowance
to Total Allowance
for Loan Losses
|
Percent of Loans
in Each Category
to Total Loans
|
||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||
Construction and land development
|
$
|
628
|
6.8
|
%
|
9.8
|
%
|
$
|
1,232
|
11.1
|
%
|
8.9
|
%
|
||||||||||||
Farmland
|
5
|
0.1
|
%
|
2.2
|
%
|
19
|
0.2
|
%
|
2.2
|
%
|
||||||||||||||
1-4 family
|
1,078
|
11.7
|
%
|
13.8
|
%
|
1,204
|
10.8
|
%
|
14.2
|
%
|
||||||||||||||
Multi-family
|
994
|
10.8
|
%
|
1.4
|
%
|
591
|
5.3
|
%
|
1.3
|
%
|
||||||||||||||
Non-farm non-residential
|
2,811
|
30.4
|
%
|
46.9
|
%
|
3,451
|
31.0
|
%
|
43.9
|
%
|
||||||||||||||
|
||||||||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
187
|
2.0
|
%
|
1.9
|
%
|
74
|
0.7
|
%
|
2.5
|
%
|
||||||||||||||
Commercial and industrial
|
2,377
|
25.8
|
%
|
19.2
|
%
|
3,543
|
31.9
|
%
|
20.4
|
%
|
||||||||||||||
Consumer and other
|
1,125
|
12.2
|
%
|
4.8
|
%
|
972
|
8.7
|
%
|
6.6
|
%
|
||||||||||||||
Unallocated
|
20
|
0.2
|
%
|
0.0
|
%
|
28
|
0.3
|
%
|
0.0
|
%
|
||||||||||||||
|
||||||||||||||||||||||||
Total Allowance
|
$
|
9,225
|
100.0
|
%
|
100.0
|
%
|
$
|
11,114
|
100.0
|
%
|
100.0
|
%
|
|
At December 31,
|
|||||||||||||||||||||||
|
2015
|
2014
|
||||||||||||||||||||||
(dollars in thousands)
|
Allowance for
Loan Losses
|
Percent of Allowance
to Total Allowance
for Loan Losses
|
Percent of Loans
in Each Category
to Total Loans
|
Allowance for
Loan Losses
|
Percent of Allowance
to Total Allowance
for Loan Losses
|
Percent of Loans
in Each Category
to Total Loans
|
||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||
Construction and land development
|
$
|
962
|
10.2
|
%
|
6.6
|
%
|
$
|
702
|
7.7
|
%
|
6.6
|
%
|
||||||||||||
Farmland
|
54
|
0.6
|
%
|
2.1
|
%
|
21
|
0.2
|
%
|
1.7
|
%
|
||||||||||||||
1-4 family
|
1,771
|
18.8
|
%
|
15.4
|
%
|
2,131
|
23.4
|
%
|
14.9
|
%
|
||||||||||||||
Multi-family
|
557
|
5.9
|
%
|
1.5
|
%
|
813
|
8.9
|
%
|
1.8
|
%
|
||||||||||||||
Non-farm non-residential
|
3,298
|
35.0
|
%
|
38.3
|
%
|
2,713
|
29.8
|
%
|
41.5
|
%
|
||||||||||||||
|
||||||||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
16
|
0.2
|
%
|
3.1
|
%
|
293
|
3.2
|
%
|
3.3
|
%
|
||||||||||||||
Commercial and industrial
|
2,527
|
26.9
|
%
|
26.6
|
%
|
1,797
|
19.8
|
%
|
24.8
|
%
|
||||||||||||||
Consumer and other
|
230
|
2.4
|
%
|
6.4
|
%
|
371
|
4.1
|
%
|
5.4
|
%
|
||||||||||||||
Unallocated
|
-
|
0.0
|
%
|
0.0
|
%
|
264
|
2.9
|
%
|
0.0
|
%
|
||||||||||||||
|
||||||||||||||||||||||||
Total Allowance
|
$
|
9,415
|
100.0
|
%
|
100.0
|
%
|
$
|
9,105
|
100.0
|
%
|
100.0
|
%
|
|
At December 31,
|
|||||||||||
|
2013
|
|||||||||||
(dollars in thousands)
|
Allowance for
Loan Losses
|
Percent of Allowance
to Total Allowance
for Loan Losses
|
Percent of Loans
in Each Category
to Total Loans
|
|||||||||
Real Estate:
|
||||||||||||
Construction and land development
|
$
|
1,530
|
14.8
|
%
|
6.7
|
%
|
||||||
Farmland
|
17
|
0.2
|
%
|
1.4
|
%
|
|||||||
1-4 family
|
1,974
|
19.1
|
%
|
14.7
|
%
|
|||||||
Multi-family
|
376
|
3.6
|
%
|
2.0
|
%
|
|||||||
Non-farm non-residential
|
3,607
|
34.8
|
%
|
47.7
|
%
|
|||||||
|
||||||||||||
Non-Real Estate:
|
||||||||||||
Agricultural
|
46
|
0.4
|
%
|
3.1
|
%
|
|||||||
Commercial and industrial
|
2,176
|
21.0
|
%
|
21.4
|
%
|
|||||||
Consumer and other
|
208
|
2.0
|
%
|
3.0
|
%
|
|||||||
Unallocated
|
421
|
4.1
|
%
|
0.0
|
%
|
|||||||
|
||||||||||||
Total Allowance
|
$
|
10,355
|
100.0
|
%
|
100.0
|
%
|
|
At December 31,
|
|||||||||||||||||||||||
|
2017
|
2016
|
2015
|
|||||||||||||||||||||
(in thousands)
|
Amortized Cost
|
Fair Value
|
Amortized Cost
|
Fair Value
|
Amortized Cost
|
Fair Value
|
||||||||||||||||||
Available for sale:
|
||||||||||||||||||||||||
U.S Treasuries
|
$
|
19,490
|
$
|
19,486
|
$
|
29,994
|
$
|
29,994
|
$
|
29,999
|
$
|
29,999
|
||||||||||||
U.S. Government Agencies
|
200,052
|
195,983
|
183,152
|
178,332
|
165,364
|
163,811
|
||||||||||||||||||
Corporate debt securities
|
91,770
|
91,485
|
132,448
|
131,972
|
105,680
|
105,136
|
||||||||||||||||||
Mutual funds or other equity securities
|
500
|
493
|
580
|
573
|
580
|
582
|
||||||||||||||||||
Municipal bonds
|
37,210
|
39,569
|
28,177
|
27,957
|
47,339
|
48,233
|
||||||||||||||||||
Collateralized mortgage obligations
|
1,191
|
1,185
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Mortgage-backed securities
|
33,680
|
33,334
|
29,181
|
28,645
|
28,891
|
28,608
|
||||||||||||||||||
Total available for sale securities
|
383,893
|
381,535
|
403,532
|
397,473
|
377,853
|
376,369
|
||||||||||||||||||
|
||||||||||||||||||||||||
Held to maturity:
|
||||||||||||||||||||||||
U.S. Government Agencies
|
28,169
|
27,499
|
18,167
|
17,512
|
77,343
|
76,622
|
||||||||||||||||||
Municipal bonds
|
5,322
|
5,325
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Mortgage-backed securities
|
86,630
|
85,733
|
83,696
|
82,394
|
92,409
|
91,526
|
||||||||||||||||||
Total held to maturity securities
|
$
|
120,121
|
$
|
118,557
|
$
|
101,863
|
$
|
99,906
|
$
|
169,752
|
$
|
168,148
|
|
At December 31, 2017
|
|||||||||||||||||||||||||||||||
|
One Year or Less
|
More than One Year
through Five Years
|
More than Five Years
through Ten Years
|
More than Ten Years
|
||||||||||||||||||||||||||||
(in thousands except for %)
|
Carrying Value
|
Weighted
Average Yield
|
Carrying Value
|
Weighted
Average Yield
|
Carrying Value
|
Weighted
Average Yield
|
Carrying Value
|
Weighted
Average Yield
|
||||||||||||||||||||||||
Available for sale:
|
||||||||||||||||||||||||||||||||
U.S Treasuries
|
$
|
19,486
|
1.2
|
%
|
$
|
-
|
0.0
|
%
|
$
|
-
|
0.0
|
%
|
$
|
-
|
0.0
|
%
|
||||||||||||||||
U.S. Government Agencies
|
2,979
|
1.0
|
%
|
39,014
|
1.6
|
%
|
141,325
|
2.4
|
%
|
12,665
|
2.9
|
%
|
||||||||||||||||||||
Corporate and other debt securities
|
4,298
|
3.9
|
%
|
29,437
|
3.2
|
%
|
56,711
|
3.7
|
%
|
1,039
|
5.5
|
%
|
||||||||||||||||||||
Mutual funds or other equity securities
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
493
|
2.1
|
%
|
||||||||||||||||||||
Municipal bonds
|
2,470
|
3.0
|
%
|
8,472
|
3.7
|
%
|
16,733
|
3.4
|
%
|
11,894
|
3.9
|
%
|
||||||||||||||||||||
Collateralized mortgage obligations
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
1,185
|
2.1
|
%
|
||||||||||||||||||||
Mortgage-backed securities
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
1,441
|
2.0
|
%
|
31,893
|
2.4
|
%
|
||||||||||||||||||||
Total available for sale securities
|
$
|
29,233
|
1.7
|
%
|
$
|
76,923
|
2.4
|
%
|
$
|
216,210
|
2.8
|
%
|
$
|
59,169
|
2.8
|
%
|
||||||||||||||||
|
||||||||||||||||||||||||||||||||
Held to maturity:
|
||||||||||||||||||||||||||||||||
U.S. Government Agencies
|
$
|
-
|
0.0
|
%
|
$
|
4,999
|
1.5
|
%
|
$
|
18,170
|
2.3
|
%
|
$
|
5,000
|
3.2
|
%
|
||||||||||||||||
Municipal bonds
|
-
|
0.0
|
%
|
125
|
1.6
|
%
|
315
|
2.4
|
%
|
4,882
|
2.6
|
%
|
||||||||||||||||||||
Mortgage-backed securities
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
829
|
2.0
|
%
|
85,801
|
2.4
|
%
|
||||||||||||||||||||
Total held to maturity securities
|
$
|
-
|
0.0
|
%
|
$
|
5,124
|
1.5
|
%
|
$
|
19,314
|
2.3
|
%
|
$
|
95,683
|
2.5
|
%
|
|
At December 31, 2016
|
|||||||||||||||||||||||||||||||
|
One Year or Less
|
More than One Year
through Five Years
|
More than Five Years
through Ten Years
|
More than Ten Years
|
||||||||||||||||||||||||||||
(in thousands except for %)
|
Carrying
Value
|
Weighted
Average Yield
|
Carrying
Value
|
Weighted
Average Yield
|
Carrying
Value
|
Weighted
Average Yield
|
Carrying
Value
|
Weighted
Average Yield
|
||||||||||||||||||||||||
Available for sale:
|
||||||||||||||||||||||||||||||||
U.S Treasuries
|
$
|
29,994
|
0.4
|
%
|
$
|
-
|
0.0
|
%
|
$
|
-
|
0.0
|
%
|
$
|
-
|
0.0
|
%
|
||||||||||||||||
U.S. Government Agencies
|
-
|
0.0
|
%
|
44,401
|
1.0
|
%
|
116,602
|
2.3
|
%
|
17,329
|
2.8
|
%
|
||||||||||||||||||||
Corporate and other debt securities
|
6,454
|
3.8
|
%
|
41,909
|
4.0
|
%
|
82,472
|
3.6
|
%
|
1,137
|
5.4
|
%
|
||||||||||||||||||||
Mutual funds or other equity securities
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
573
|
2.2
|
%
|
||||||||||||||||||||
Municipal bonds
|
3,324
|
2.1
|
%
|
6,301
|
2.7
|
%
|
10,896
|
2.9
|
%
|
7,436
|
2.9
|
%
|
||||||||||||||||||||
Mortgage Backed Securities
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
28,645
|
2.0
|
%
|
||||||||||||||||||||
Total available for sale securities
|
39,772
|
1.1
|
%
|
92,611
|
2.5
|
%
|
209,970
|
2.8
|
%
|
55,120
|
2.5
|
%
|
||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
Held to maturity:
|
||||||||||||||||||||||||||||||||
U.S. Government Agencies
|
-
|
0.0
|
%
|
4,998
|
1.5
|
%
|
13,169
|
2.0
|
%
|
-
|
0.0
|
%
|
||||||||||||||||||||
Mortgage-backed securities
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
-
|
0.0
|
%
|
83,696
|
2.1
|
%
|
||||||||||||||||||||
Total held to maturity securities
|
$
|
-
|
0.0
|
%
|
$
|
4,998
|
1.5
|
%
|
$
|
13,169
|
2.0
|
%
|
$
|
83,696
|
2.1
|
%
|
|
At December 31, 2017
|
|||||||
(in thousands)
|
Amortized Cost
|
Fair Value
|
||||||
U.S. Treasuries
|
$
|
19,490
|
$
|
19,486
|
||||
FHLB
|
50,395
|
49,403
|
||||||
Freddie Mac
|
57,569
|
57,008
|
||||||
Fannie Mae
|
103,644
|
101,757
|
||||||
Federal Farm Credit Bank
|
136,923
|
134,381
|
||||||
Total
|
$
|
368,021
|
$
|
362,035
|
For the Years Ended December 31,
|
||||||||||||||||||||||||||||||||||||
Total Deposits
|
2017
|
2016
|
2015
|
|||||||||||||||||||||||||||||||||
(in thousands except for %)
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
|||||||||||||||||||||||||||
Noninterest-bearing Demand
|
$
|
244,949
|
16.7
|
%
|
0.0
|
%
|
$
|
221,634
|
17.2
|
%
|
0.0
|
%
|
$
|
211,584
|
15.9
|
%
|
0.0
|
%
|
||||||||||||||||||
Interest-bearing Demand
|
539,399
|
36.9
|
%
|
1.0
|
%
|
415,410
|
32.3
|
%
|
0.6
|
%
|
401,617
|
30.2
|
%
|
0.4
|
%
|
|||||||||||||||||||||
Savings
|
102,779
|
7.0
|
%
|
0.2
|
%
|
89,279
|
7.0
|
%
|
0.1
|
%
|
77,726
|
5.8
|
%
|
0.0
|
%
|
|||||||||||||||||||||
Time
|
575,666
|
39.4
|
%
|
1.2
|
%
|
558,982
|
43.5
|
%
|
1.1
|
%
|
640,134
|
48.1
|
%
|
1.1
|
%
|
|||||||||||||||||||||
Total Deposits
|
$
|
1,462,793
|
100.0
|
%
|
0.9
|
%
|
$
|
1,285,305
|
100.0
|
%
|
0.7
|
%
|
$
|
1,331,061
|
100.0
|
%
|
0.6
|
%
|
For the Years Ended December 31,
|
||||||||||||||||||||||||||||||||||||
Individual and Business Deposits
|
2017
|
2016
|
2015
|
|||||||||||||||||||||||||||||||||
(in thousands except for %)
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
|||||||||||||||||||||||||||
Noninterest-bearing Demand
|
$
|
240,337
|
28.0
|
%
|
0.0
|
%
|
$
|
217,245
|
30.1
|
%
|
0.0
|
%
|
$
|
207,334
|
27.6
|
%
|
0.0
|
%
|
||||||||||||||||||
Interest-bearing Demand
|
187,439
|
21.8
|
%
|
0.6
|
%
|
117,221
|
16.2
|
%
|
0.3
|
%
|
112,864
|
15.0
|
%
|
0.2
|
%
|
|||||||||||||||||||||
Savings
|
82,442
|
9.6
|
%
|
0.1
|
%
|
72,647
|
10.0
|
%
|
0.1
|
%
|
65,775
|
8.7
|
%
|
0.1
|
%
|
|||||||||||||||||||||
Time
|
348,656
|
40.6
|
%
|
1.3
|
%
|
316,191
|
43.7
|
%
|
1.3
|
%
|
366,244
|
48.7
|
%
|
1.4
|
%
|
|||||||||||||||||||||
Total Individual and Business Deposits
|
$
|
858,874
|
100.0
|
%
|
0.7
|
%
|
$
|
723,304
|
100.0
|
%
|
0.6
|
%
|
$
|
752,217
|
100.0
|
%
|
0.7
|
%
|
For the Years Ended December 31,
|
||||||||||||||||||||||||||||||||||||
Public Fund Deposits
|
2017
|
2016
|
2015
|
|||||||||||||||||||||||||||||||||
(in thousands except for %)
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
Average Balance
|
Percent
|
Weighted
Average Rate
|
|||||||||||||||||||||||||||
Noninterest-bearing Demand
|
$
|
4,612
|
0.8
|
%
|
0.0
|
%
|
$
|
4,389
|
0.8
|
%
|
0.0
|
%
|
$
|
4,250
|
0.7
|
%
|
0.0
|
%
|
||||||||||||||||||
Interest-bearing Demand
|
351,960
|
58.3
|
%
|
1.2
|
%
|
298,189
|
53.0
|
%
|
0.8
|
%
|
288,753
|
49.9
|
%
|
0.4
|
%
|
|||||||||||||||||||||
Savings
|
20,337
|
3.4
|
%
|
0.8
|
%
|
16,632
|
3.0
|
%
|
0.3
|
%
|
11,951
|
2.1
|
%
|
0.0
|
%
|
|||||||||||||||||||||
Time
|
227,010
|
37.5
|
%
|
1.1
|
%
|
242,791
|
43.2
|
%
|
0.8
|
%
|
273,890
|
47.3
|
%
|
0.7
|
%
|
|||||||||||||||||||||
Total Public Fund Deposits
|
$
|
603,919
|
100.0
|
%
|
1.2
|
%
|
$
|
562,001
|
100.0
|
%
|
0.8
|
%
|
$
|
578,844
|
100.0
|
%
|
0.5
|
%
|
At December 31,
|
||||||||||||
(in thousands except for %)
|
2017
|
2016
|
2015
|
|||||||||
Public Funds:
|
||||||||||||
Noninterest-bearing Demand
|
$
|
4,828
|
$
|
4,114
|
$
|
4,906
|
||||||
Interest-bearing Demand
|
389,788
|
324,356
|
296,416
|
|||||||||
Savings
|
20,539
|
20,116
|
14,667
|
|||||||||
Time
|
225,591
|
208,330
|
252,688
|
|||||||||
Total Public Funds
|
$
|
640,746
|
$
|
556,916
|
$
|
568,677
|
||||||
Total Deposits
|
$
|
1,549,286
|
$
|
1,326,181
|
$
|
1,295,870
|
||||||
Total Public Funds as a percent of Total Deposits
|
41.4
|
%
|
42.0
|
%
|
43.9
|
%
|
(in thousands)
|
December 31, 2017
|
|||
Due in one year or less
|
$
|
268,078
|
||
Due after one year through three years
|
107,414
|
|||
Due after three years
|
33,920
|
|||
Total certificates of deposit greater than or equal to $100,000
|
$
|
409,412
|
|
At or For the Years Ended December 31,
|
|||||||||||
(in thousands except for %)
|
2017
|
2016
|
2015
|
|||||||||
Balance at end of year
|
$
|
15,500
|
$
|
6,500
|
$
|
1,800
|
||||||
Maximum month-end outstanding
|
$
|
28,000
|
$
|
25,000
|
$
|
13,800
|
||||||
Average daily outstanding
|
$
|
5,833
|
$
|
8,775
|
$
|
4,217
|
||||||
Total Weighted average rate during the year
|
1.06
|
%
|
0.85
|
%
|
2.12
|
%
|
||||||
Weighted average rate at the end of the year
|
1.51
|
%
|
0.65
|
%
|
4.50
|
%
|
|
December 31, 2017
|
December 31, 2016
|
December 31, 2015
|
|||||||||||||||||||||||||||||||||
(in thousands except for %)
|
Average Balance
|
Interest
|
Yield/Rate
|
Average Balance
|
Interest
|
Yield/Rate
|
Average Balance
|
Interest
|
Yield/Rate
|
|||||||||||||||||||||||||||
Assets
|
||||||||||||||||||||||||||||||||||||
Interest-earning assets:
|
||||||||||||||||||||||||||||||||||||
Interest-earning deposits with banks(1)
|
$
|
23,913
|
$
|
178
|
0.74
|
%
|
$
|
20,857
|
$
|
69
|
0.33
|
%
|
$
|
30,485
|
$
|
72
|
0.24
|
%
|
||||||||||||||||||
Securities (including FHLB stock)
|
511,728
|
13,325
|
2.60
|
%
|
523,438
|
12,968
|
2.48
|
%
|
609,348
|
13,471
|
2.21
|
%
|
||||||||||||||||||||||||
Federal funds sold
|
977
|
9
|
0.89
|
%
|
256
|
-
|
0.00
|
%
|
312
|
-
|
0.00
|
%
|
||||||||||||||||||||||||
Loans held for sale
|
1,233
|
69
|
5.60
|
%
|
-
|
-
|
0.00
|
%
|
-
|
-
|
0.00
|
%
|
||||||||||||||||||||||||
Loans, net of unearned income
|
1,056,519
|
53,965
|
5.11
|
%
|
881,387
|
45,495
|
5.16
|
%
|
816,027
|
42,536
|
5.21
|
%
|
||||||||||||||||||||||||
Total interest-earning assets
|
1,594,370
|
67,546
|
4.23
|
%
|
1,425,938
|
58,532
|
4.10
|
%
|
1,456,172
|
56,079
|
3.85
|
%
|
||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Noninterest-earning assets:
|
||||||||||||||||||||||||||||||||||||
Cash and due from banks
|
10,147
|
7,915
|
7,191
|
|||||||||||||||||||||||||||||||||
Premises and equipment, net
|
31,885
|
22,306
|
20,300
|
|||||||||||||||||||||||||||||||||
Other assets
|
9,536
|
3,800
|
5,870
|
|||||||||||||||||||||||||||||||||
Total Assets
|
$
|
1,645,938
|
$
|
1,459,959
|
$
|
1,489,533
|
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Liabilities and Shareholders' Equity
|
||||||||||||||||||||||||||||||||||||
Interest-bearing liabilities:
|
||||||||||||||||||||||||||||||||||||
Demand deposits
|
$
|
539,399
|
5,526
|
1.02
|
%
|
$
|
415,410
|
2,633
|
0.63
|
%
|
$
|
401,617
|
1,419
|
0.35
|
%
|
|||||||||||||||||||||
Savings deposits
|
102,779
|
201
|
0.20
|
%
|
89,279
|
80
|
0.09
|
%
|
77,726
|
38
|
0.05
|
%
|
||||||||||||||||||||||||
Time deposits
|
575,666
|
7,112
|
1.24
|
%
|
558,982
|
5,954
|
1.07
|
%
|
640,134
|
6,985
|
1.09
|
%
|
||||||||||||||||||||||||
Borrowings
|
41,190
|
1,554
|
3.77
|
%
|
43,474
|
1,473
|
3.39
|
%
|
6,320
|
166
|
2.62
|
%
|
||||||||||||||||||||||||
Total interest-bearing liabilities
|
1,259,034
|
14,393
|
1.14
|
%
|
1,107,145
|
10,140
|
0.92
|
%
|
1,125,797
|
8,608
|
0.76
|
%
|
||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Noninterest-bearing liabilities:
|
||||||||||||||||||||||||||||||||||||
Demand deposits
|
244,949
|
221,634
|
211,584
|
|||||||||||||||||||||||||||||||||
Other
|
5,138
|
5,144
|
5,010
|
|||||||||||||||||||||||||||||||||
Total Liabilities
|
1,509,121
|
1,333,923
|
1,342,391
|
|||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Shareholders' Equity
|
136,817
|
126,036
|
147,142
|
|||||||||||||||||||||||||||||||||
Total Liabilities and Shareholders' Equity
|
$
|
1,645,938
|
$
|
1,459,959
|
$
|
1,489,533
|
||||||||||||||||||||||||||||||
Net interest income
|
$
|
53,153
|
$
|
48,392
|
$
|
47,471
|
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Net interest rate spread(2)
|
3.09
|
%
|
3.18
|
%
|
3.09
|
%
|
||||||||||||||||||||||||||||||
Net interest-earning assets(3)
|
$
|
335,336
|
$
|
318,793
|
$
|
330,375
|
||||||||||||||||||||||||||||||
Net interest margin(4)(5)
|
3.33
|
%
|
3.39
|
%
|
3.26
|
%
|
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Average interest-earning assets to interest-bearing liabilities
|
126.64
|
%
|
128.79
|
%
|
129.35
|
%
|
(1) |
Includes Federal Reserve balances reported in cash and due from banks on the consolidated balance sheets.
|
(2) |
Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
|
(3) |
Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
|
(4) |
Net interest margin represents net interest income divided by average total interest-earning assets.
|
(5) |
The tax adjusted net interest margin was 3.36%, 3.42% and 3.29% for the years ended December 31, 2017, 2016 and 2015. A 35% tax rate was used to calculate the effect on securities income from tax exempt securities.
|
|
For the Years Ended December 31, 2017 vs. 2016
Increase (Decrease) Due To
|
For the Years Ended December 31, 2016 vs. 2015
Increase (Decrease) Due To
|
||||||||||||||||||||||
(in thousands except for %)
|
Volume
|
Rate
|
Increase/
Decrease
|
Volume
|
Rate
|
Increase/
Decrease
|
||||||||||||||||||
Interest earned on:
|
||||||||||||||||||||||||
Interest-earning deposits with banks
|
$
|
12
|
$
|
97
|
$
|
109
|
$
|
(27
|
)
|
$
|
24
|
$
|
(3
|
)
|
||||||||||
Securities (including FHLB stock)
|
(294
|
)
|
651
|
357
|
(2,023
|
)
|
1,520
|
(503
|
)
|
|||||||||||||||
Federal funds sold
|
-
|
9
|
9
|
-
|
-
|
-
|
||||||||||||||||||
Loans held for sale
|
69
|
-
|
69
|
-
|
-
|
-
|
||||||||||||||||||
Loans, net of unearned income
|
8,950
|
(480
|
)
|
8,470
|
3,377
|
(418
|
)
|
2,959
|
||||||||||||||||
Total interest income
|
8,737
|
277
|
9,014
|
1,327
|
1,126
|
2,453
|
||||||||||||||||||
|
||||||||||||||||||||||||
Interest paid on:
|
||||||||||||||||||||||||
Demand deposits
|
944
|
1,949
|
2,893
|
50
|
1,164
|
1,214
|
||||||||||||||||||
Savings deposits
|
14
|
107
|
121
|
7
|
35
|
42
|
||||||||||||||||||
Time deposits
|
182
|
976
|
1,158
|
(868
|
)
|
(163
|
)
|
(1,031
|
)
|
|||||||||||||||
Borrowings
|
(80
|
)
|
161
|
81
|
1,245
|
62
|
1,307
|
|||||||||||||||||
Total interest expense
|
1,060
|
3,193
|
4,253
|
434
|
1,098
|
1,532
|
||||||||||||||||||
|
||||||||||||||||||||||||
Change in net interest income
|
$
|
7,677
|
$
|
(2,916
|
)
|
$
|
4,761
|
$
|
893
|
$
|
28
|
$
|
921
|
(in thousands)
|
December 31, 2017
|
December 31, 2016
|
December 31, 2015
|
|||||||||
Other noninterest expense:
|
||||||||||||
Legal and professional fees
|
$
|
3,037
|
$
|
2,185
|
$
|
2,019
|
||||||
Data processing
|
1,608
|
1,259
|
1,184
|
|||||||||
ATM fees
|
1,161
|
1,044
|
1,022
|
|||||||||
Marketing and public relations
|
1,205
|
878
|
848
|
|||||||||
Taxes - sales, capital, and franchise
|
970
|
787
|
717
|
|||||||||
Operating supplies
|
496
|
471
|
414
|
|||||||||
Software expense and amortization
|
923
|
835
|
612
|
|||||||||
Travel and lodging
|
910
|
710
|
818
|
|||||||||
Telephone
|
167
|
177
|
172
|
|||||||||
Amortization of core deposits
|
432
|
320
|
320
|
|||||||||
Donations
|
322
|
298
|
332
|
|||||||||
Net costs from other real estate and repossessions
|
306
|
498
|
493
|
|||||||||
Regulatory assessment
|
726
|
1,005
|
1,111
|
|||||||||
Other
|
1,640
|
1,599
|
1,692
|
|||||||||
Total other expense
|
$
|
13,903
|
$
|
12,066
|
$
|
11,754
|
|
"Well Capitalized Minimums"
|
|
At December 31, 2017
|
|
"Well Capitalized Minimums"
|
|
At December 31, 2016
|
||||
|
|
|
|
|
|
|
|
||||
Tier 1 Leverage Ratio:
|
|
|
|
|
|
|
|
||||
Consolidated
|
|
N/A
|
|
|
8.27%
|
|
|
N/A
|
|
|
8.68%
|
Bank
|
|
5.00%
|
|
|
9.88%
|
|
|
5.00%
|
|
|
9.88%
|
|
|
|
|
|
|
|
|
|
|
|
|
Tier 1 Risk-based Capital Ratio:
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
N/A
|
|
|
10.35%
|
|
|
N/A
|
|
|
10.59%
|
Bank
|
|
8.00%
|
|
|
12.39%
|
|
|
8.00%
|
|
|
12.05%
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Risk-based Capital Ratio:
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
N/A
|
|
|
12.14%
|
|
|
N/A
|
|
|
12.79%
|
Bank
|
|
10.00%
|
|
|
13.07%
|
|
|
10.00%
|
|
|
12.99%
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Equity Tier One Capital:
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
N/A
|
|
|
10.35%
|
|
|
N/A
|
|
|
10.59%
|
Bank
|
|
6.50%
|
|
|
12.39%
|
|
|
6.50%
|
|
|
12.05%
|
(in thousands)
|
December 31, 2017
|
December 31, 2016
|
December 31, 2015
|
|||||||||
Commitments to Extend Credit
|
$
|
78,125
|
$
|
56,910
|
$
|
88,081
|
||||||
Unfunded Commitments under lines of credit
|
$
|
101,344
|
$
|
128,428
|
$
|
107,581
|
||||||
Commercial and Standby letters of credit
|
$
|
7,886
|
$
|
6,602
|
$
|
7,486
|
Payments Due by Period:
|
December 31, 2017
|
|||||||||||||||
(in thousands)
|
Less Than One Year
|
One to Three Years
|
Over Three Years
|
Total
|
||||||||||||
Operating leases
|
$
|
39
|
$
|
47
|
$
|
15
|
$
|
101
|
||||||||
Software contracts
|
1,271
|
1,016
|
207
|
2,494
|
||||||||||||
Time deposits
|
357,687
|
167,745
|
55,899
|
581,331
|
||||||||||||
Short-term borrowings
|
15,500
|
-
|
-
|
15,500
|
||||||||||||
Senior long-term debt
|
2,941
|
5,882
|
13,971
|
22,794
|
||||||||||||
Junior subordinated debentures
|
-
|
-
|
15,000
|
15,000
|
||||||||||||
Total contractual obligations
|
$
|
377,438
|
$
|
174,690
|
$
|
85,092
|
$
|
637,220
|
|
December 31, 2017
|
|||||||||||||||||||
|
Interest Sensitivity Within
|
|||||||||||||||||||
(dollars in thousands)
|
3 Months Or Less
|
Over 3 Months
thru 12 Months
|
Total One Year
|
Over One Year
|
Total
|
|||||||||||||||
Earning Assets:
|
||||||||||||||||||||
Loans (including loans held for sale)
|
$
|
515,254
|
$
|
48,631
|
$
|
563,885
|
$
|
586,437
|
$
|
1,150,322
|
||||||||||
Securities (including FHLB stock)
|
24,338
|
7,246
|
31,584
|
472,423
|
504,007
|
|||||||||||||||
Federal Funds Sold
|
823
|
-
|
823
|
-
|
823
|
|||||||||||||||
Other earning assets
|
25,589
|
-
|
25,589
|
-
|
25,589
|
|||||||||||||||
Total earning assets
|
$
|
566,004
|
$
|
55,877
|
$
|
621,881
|
$
|
1,058,860
|
$
|
1,680,741
|
||||||||||
|
||||||||||||||||||||
Source of Funds:
|
||||||||||||||||||||
Interest-bearing accounts:
|
||||||||||||||||||||
Demand deposits
|
$
|
611,677
|
$
|
-
|
$
|
611,677
|
$
|
-
|
$
|
611,677
|
||||||||||
Savings deposits
|
104,661
|
-
|
104,661
|
-
|
104,661
|
|||||||||||||||
Time deposits
|
150,844
|
206,843
|
357,687
|
223,644
|
581,331
|
|||||||||||||||
Short-term borrowings
|
15,500
|
-
|
15,500
|
-
|
15,500
|
|||||||||||||||
Senior long-term debt
|
22,774
|
-
|
22,774
|
-
|
22,774
|
|||||||||||||||
Junior subordinated debt
|
-
|
-
|
-
|
14,664
|
14,664
|
|||||||||||||||
Noninterest-bearing, net
|
-
|
-
|
-
|
330,134
|
330,134
|
|||||||||||||||
Total source of funds
|
$
|
905,456
|
$
|
206,843
|
$
|
1,112,299
|
$
|
568,442
|
$
|
1,680,741
|
||||||||||
|
||||||||||||||||||||
Period gap
|
$
|
(339,452
|
)
|
$
|
(150,966
|
)
|
$
|
(490,418
|
)
|
$
|
490,418
|
|||||||||
Cumulative gap
|
$
|
(339,452
|
)
|
$
|
(490,418
|
)
|
$
|
(490,418
|
)
|
$
|
-
|
|||||||||
|
||||||||||||||||||||
Cumulative gap as a percent of earning assets
|
-20.2
|
%
|
-29.2
|
%
|
-29.2
|
%
|
December 31, 2017
|
||
Instantaneous Changes in Interest Rates (basis points)
|
|
Percent Change in Net Interest Income
|
+400
|
|
(11.05%)
|
+300
|
|
(8.19%)
|
+200
|
|
(5.22%)
|
+100
|
|
(2.34%)
|
Base
|
|
0%
|
-100
|
|
2.15%
|
|
||
Gradual Changes in Interest Rates (basis points)
|
|
Percent Change in Net Interest Income
|
+400
|
|
(6.47%)
|
+300
|
|
(4.77%)
|
+200
|
|
(3.15%)
|
+100
|
|
(1.45%)
|
Base
|
|
0%
|
-100
|
|
2.09%
|
/s/ Castaing, Hussey & Lolan, LLC
|
|
We have served as First Guaranty Bancshares Inc. and Subsidiaries' auditor since 2001.
|
|
Castaing, Hussey & Lolan, LLC
|
|
New Iberia, Louisiana
|
|
March 16, 2018
|
(in thousands, except share data)
|
December 31, 2017
|
December 31, 2016
|
||||||
Assets
|
||||||||
Cash and cash equivalents:
|
||||||||
Cash and due from banks
|
$
|
37,205
|
$
|
17,840
|
||||
Federal funds sold
|
823
|
271
|
||||||
Cash and cash equivalents
|
38,028
|
18,111
|
||||||
|
||||||||
Investment securities:
|
||||||||
Available for sale, at fair value
|
381,535
|
397,473
|
||||||
Held to maturity, at cost (estimated fair value of $118,557 and $99,906, respectively)
|
120,121
|
101,863
|
||||||
Investment securities
|
501,656
|
499,336
|
||||||
|
||||||||
Federal Home Loan Bank stock, at cost
|
2,351
|
1,816
|
||||||
Loans held for sale
|
1,308
|
-
|
||||||
|
||||||||
Loans, net of unearned income
|
1,149,014
|
948,921
|
||||||
Less: allowance for loan losses
|
9,225
|
11,114
|
||||||
Net loans
|
1,139,789
|
937,807
|
||||||
|
||||||||
Premises and equipment, net
|
38,020
|
23,519
|
||||||
Goodwill
|
3,472
|
1,999
|
||||||
Intangible assets, net
|
4,424
|
1,056
|
||||||
Other real estate, net
|
1,281
|
359
|
||||||
Accrued interest receivable
|
7,982
|
7,039
|
||||||
Other assets
|
12,119
|
9,904
|
||||||
Total Assets
|
$
|
1,750,430
|
$
|
1,500,946
|
||||
|
||||||||
Liabilities and Shareholders' Equity
|
||||||||
Deposits:
|
||||||||
Noninterest-bearing demand
|
$
|
251,617
|
$
|
231,094
|
||||
Interest-bearing demand
|
611,677
|
479,810
|
||||||
Savings
|
104,661
|
97,280
|
||||||
Time
|
581,331
|
517,997
|
||||||
Total deposits
|
1,549,286
|
1,326,181
|
||||||
|
||||||||
Short-term borrowings
|
15,500
|
6,500
|
||||||
Accrued interest payable
|
2,488
|
1,931
|
||||||
Senior long-term debt
|
22,774
|
22,100
|
||||||
Junior subordinated debentures
|
14,664
|
14,630
|
||||||
Other liabilities
|
1,735
|
5,255
|
||||||
Total Liabilities
|
1,606,447
|
1,376,597
|
||||||
|
||||||||
Shareholders' Equity
|
||||||||
Common stock:1
|
||||||||
$1 par value - authorized 100,600,000 shares; issued 8,807,175 and 8,369,424 shares
|
8,807
|
8,369
|
||||||
Surplus
|
92,268
|
81,000
|
||||||
Retained earnings
|
44,464
|
38,979
|
||||||
Accumulated other comprehensive income (loss)
|
(1,556
|
)
|
(3,999
|
)
|
||||
Total Shareholders' Equity
|
143,983
|
124,349
|
||||||
Total Liabilities and Shareholders' Equity
|
$
|
1,750,430
|
$
|
1,500,946
|
|
Years Ended December 31,
|
|||||||||||
(in thousands, except share data)
|
2017
|
2016
|
2015
|
|||||||||
Interest Income:
|
||||||||||||
Loans (including fees)
|
$
|
54,034
|
$
|
45,495
|
$
|
42,536
|
||||||
Deposits with other banks
|
178
|
69
|
72
|
|||||||||
Securities (including FHLB stock)
|
13,325
|
12,968
|
13,471
|
|||||||||
Federal funds sold
|
9
|
-
|
-
|
|||||||||
Total Interest Income
|
67,546
|
58,532
|
56,079
|
|||||||||
|
||||||||||||
Interest Expense:
|
||||||||||||
Demand deposits
|
5,526
|
2,633
|
1,419
|
|||||||||
Savings deposits
|
201
|
80
|
38
|
|||||||||
Time deposits
|
7,112
|
5,954
|
6,985
|
|||||||||
Borrowings
|
1,554
|
1,473
|
166
|
|||||||||
Total Interest Expense
|
14,393
|
10,140
|
8,608
|
|||||||||
|
||||||||||||
Net Interest Income
|
53,153
|
48,392
|
47,471
|
|||||||||
Less: Provision for loan losses
|
3,822
|
3,705
|
3,864
|
|||||||||
Net Interest Income after Provision for Loan Losses
|
49,331
|
44,687
|
43,607
|
|||||||||
|
||||||||||||
Noninterest Income:
|
||||||||||||
Service charges, commissions and fees
|
2,589
|
2,388
|
2,736
|
|||||||||
ATM and debit card fees
|
1,986
|
1,859
|
1,779
|
|||||||||
Net gains on securities
|
1,397
|
3,799
|
3,300
|
|||||||||
Net gains on sale of loans
|
311
|
14
|
4
|
|||||||||
Other
|
2,057
|
1,395
|
1,137
|
|||||||||
Total Noninterest Income
|
8,340
|
9,455
|
8,956
|
|||||||||
|
||||||||||||
Noninterest Expense:
|
||||||||||||
Salaries and employee benefits
|
20,113
|
16,577
|
15,496
|
|||||||||
Occupancy and equipment expense
|
4,505
|
4,242
|
3,845
|
|||||||||
Other
|
13,903
|
12,066
|
11,754
|
|||||||||
Total Noninterest Expense
|
38,521
|
32,885
|
31,095
|
|||||||||
|
||||||||||||
Income Before Income Taxes
|
19,150
|
21,257
|
21,468
|
|||||||||
Less: Provision for income taxes
|
7,399
|
7,164
|
6,963
|
|||||||||
Net Income
|
$
|
11,751
|
$
|
14,093
|
$
|
14,505
|
||||||
Preferred stock dividends
|
-
|
-
|
(384
|
)
|
||||||||
Income Available to Common Shareholders
|
$
|
11,751
|
$
|
14,093
|
$
|
14,121
|
||||||
|
||||||||||||
Per Common Share:1
|
||||||||||||
Earnings
|
$
|
1.37
|
$
|
1.68
|
$
|
1.83
|
||||||
Cash dividends paid
|
$
|
0.60
|
$
|
0.58
|
$
|
0.54
|
||||||
|
||||||||||||
Weighted Average Common Shares Outstanding
|
8,608,088
|
8,369,424
|
7,714,620
|
|
Years Ended December 31,
|
|||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
|||||||||
Net Income
|
$
|
11,751
|
$
|
14,093
|
$
|
14,505
|
||||||
Other comprehensive income (loss):
|
||||||||||||
Unrealized gains (losses) on securities:
|
||||||||||||
Unrealized holding gains (losses) arising during the period
|
5,098
|
(955
|
)
|
1,394
|
||||||||
Reclassification adjustments for net gains included in net income
|
(1,397
|
)
|
(3,799
|
)
|
(3,300
|
)
|
||||||
Reclassification of OTTI losses included in net income
|
-
|
60
|
175
|
|||||||||
Change in unrealized gains (losses) on securities
|
3,701
|
(4,694
|
)
|
(1,731
|
)
|
|||||||
Tax impact
|
(1,258
|
)
|
1,596
|
589
|
||||||||
Other comprehensive income (loss)
|
2,443
|
(3,098
|
)
|
(1,142
|
)
|
|||||||
Comprehensive Income
|
$
|
14,194
|
$
|
10,995
|
$
|
13,363
|
|
Series C
Preferred Stock
$1,000 Par
|
Common Stock
$1 Par
|
Surplus
|
Treasury
Stock
|
Retained
Earnings
|
Accumulated
Other Comprehensive
Income/(Loss)
|
Total
|
|||||||||||||||||||||
(in thousands, except share data)
|
||||||||||||||||||||||||||||
Balance December 31, 2014(2)
|
$
|
39,435
|
$
|
7,615
|
$
|
69,311
|
$
|
(54
|
)
|
$
|
23,035
|
$
|
241
|
$
|
139,583
|
|||||||||||||
Net income
|
-
|
-
|
-
|
-
|
14,505
|
-
|
14,505
|
|||||||||||||||||||||
Reclassification of treasury stock under the LCBA (1)(2)
|
-
|
(4
|
)
|
(7
|
)
|
54
|
(43
|
)
|
-
|
-
|
||||||||||||||||||
Other comprehensive income
|
-
|
-
|
-
|
-
|
-
|
(1,142
|
)
|
(1,142
|
)
|
|||||||||||||||||||
Preferred stock redeemed, Series C
|
(39,435
|
)
|
-
|
-
|
-
|
-
|
-
|
(39,435
|
)
|
|||||||||||||||||||
Common stock issued in initial public offering, 758,027 shares(2)
|
-
|
758
|
11,696
|
-
|
(3,110
|
)
|
-
|
9,344
|
||||||||||||||||||||
Cash dividends on common stock ($0.54 per share)(2)
|
-
|
-
|
-
|
-
|
(4,247
|
)
|
-
|
(4,247
|
)
|
|||||||||||||||||||
Preferred stock dividends
|
-
|
-
|
-
|
-
|
(384
|
)
|
-
|
(384
|
)
|
|||||||||||||||||||
Balance December 31, 2015
|
$
|
-
|
$
|
8,369
|
$
|
81,000
|
$
|
-
|
$
|
29,756
|
$
|
(901
|
)
|
$
|
118,224
|
|||||||||||||
Net income
|
-
|
-
|
-
|
-
|
14,093
|
-
|
14,093
|
|||||||||||||||||||||
Other comprehensive income
|
-
|
-
|
-
|
-
|
-
|
(3,098
|
)
|
(3,098
|
)
|
|||||||||||||||||||
Cash dividends on common stock ($0.58 per
share)(2)
|
-
|
-
|
-
|
-
|
(4,870
|
)
|
-
|
(4,870
|
)
|
|||||||||||||||||||
Balance December 31, 2016
|
$
|
-
|
$
|
8,369
|
$
|
81,000
|
$
|
-
|
$
|
38,979
|
$
|
(3,999
|
)
|
$
|
124,349
|
|||||||||||||
Net income
|
-
|
-
|
-
|
-
|
11,751
|
-
|
11,751
|
|||||||||||||||||||||
Common stock issued in acquisition, 437,751 shares(2)
|
-
|
438
|
11,268
|
-
|
(1,056
|
)
|
-
|
10,650
|
||||||||||||||||||||
Other comprehensive income
|
-
|
-
|
-
|
-
|
-
|
2,443
|
2,443
|
|||||||||||||||||||||
Cash dividends on common stock ($0.60 per share)(2)
|
-
|
-
|
-
|
-
|
(5,210
|
)
|
-
|
(5,210
|
)
|
|||||||||||||||||||
Balance December 31, 2017
|
$
|
-
|
$
|
8,807
|
$
|
92,268
|
$
|
-
|
$
|
44,464
|
$
|
(1,556
|
)
|
$
|
143,983
|
|
Years Ended December 31,
|
|||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
|||||||||
Cash Flows From Operating Activities:
|
||||||||||||
Net income
|
$
|
11,751
|
$
|
14,093
|
$
|
14,505
|
||||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||||||
Provision for loan losses
|
3,822
|
3,705
|
3,864
|
|||||||||
Depreciation and amortization
|
2,444
|
2,190
|
1,995
|
|||||||||
Amortization/Accretion of investments
|
1,788
|
2,239
|
2,036
|
|||||||||
Gain on sale/call of securities
|
(1,397
|
)
|
(3,799
|
)
|
(3,300
|
)
|
||||||
Other than temporary impairment charge on securities
|
-
|
60
|
175
|
|||||||||
Gain on sale of assets
|
(361
|
)
|
(76
|
)
|
(6
|
)
|
||||||
Repossessed asset write downs, gain and losses on dispositions
|
103
|
243
|
411
|
|||||||||
FHLB stock dividends
|
(23
|
)
|
(6
|
)
|
(4
|
)
|
||||||
Net decrease in loans held for sale
|
347
|
-
|
-
|
|||||||||
Change in other assets and liabilities, net
|
(6,199
|
)
|
3,563
|
(2,461
|
)
|
|||||||
Net Cash Provided by Operating Activities
|
12,275
|
22,212
|
17,215
|
|||||||||
|
||||||||||||
Cash Flows From Investing Activities:
|
||||||||||||
Proceeds from maturities, calls and sales of certificates of deposit
|
-
|
1,001
|
9,250
|
|||||||||
Proceeds from maturities and calls of HTM securities
|
11,703
|
85,875
|
72,036
|
|||||||||
Proceeds from maturities, calls and sales of AFS securities
|
542,894
|
1,000,905
|
723,249
|
|||||||||
Funds invested in HTM securities
|
(30,530
|
)
|
(18,563
|
)
|
(48,318
|
)
|
||||||
Funds Invested in AFS securities
|
(517,185
|
)
|
(1,024,632
|
)
|
(650,698
|
)
|
||||||
Proceeds from sale/redemption of Federal Home Loan Bank stock
|
-
|
-
|
3,554
|
|||||||||
Funds invested in Federal Home Loan Bank stock
|
-
|
(875
|
)
|
(2,864
|
)
|
|||||||
Net increase in loans
|
(80,816
|
)
|
(109,467
|
)
|
(56,000
|
)
|
||||||
Purchases of premises and equipment
|
(6,814
|
)
|
(4,109
|
)
|
(4,400
|
)
|
||||||
Proceeds from sales of premises and equipment
|
51
|
983
|
4
|
|||||||||
Proceeds from sales of other real estate owned
|
608
|
1,098
|
1,394
|
|||||||||
Cash paid in excess of cash recieved in acquisition
|
(2,907
|
)
|
-
|
-
|
||||||||
Net Cash (Used In) Provided By Investing Activities
|
(82,996
|
)
|
(67,784
|
)
|
47,207
|
|||||||
|
||||||||||||
Cash Flows From Financing Activities:
|
||||||||||||
Net increase (decrease) in deposits
|
95,879
|
30,311
|
(75,969
|
)
|
||||||||
Net (decrease) increase in federal funds purchased and short-term borrowings
|
(700
|
)
|
4,700
|
-
|
||||||||
Proceeds from long-term borrowings, net of costs
|
3,750
|
-
|
24,969
|
|||||||||
Repayment of long-term borrowings
|
(3,081
|
)
|
(3,730
|
)
|
(600
|
)
|
||||||
Proceeds from junior subordinated debentures, net of costs
|
-
|
-
|
14,597
|
|||||||||
Issuance of common stock, net of costs
|
-
|
-
|
9,344
|
|||||||||
Redemption of preferred stock
|
-
|
-
|
(39,435
|
)
|
||||||||
Dividends paid
|
(5,210
|
)
|
(4,870
|
)
|
(4,631
|
)
|
||||||
Net Cash Provided By (Used in) Financing Activities
|
90,638
|
26,411
|
(71,725
|
)
|
||||||||
|
||||||||||||
Net Increase (Decrease In) Cash and Cash Equivalents
|
19,917
|
(19,161
|
)
|
(7,303
|
)
|
|||||||
Cash and Cash Equivalents at the Beginning of the Period
|
18,111
|
37,272
|
44,575
|
|||||||||
Cash and Cash Equivalents at the End of the Period
|
$
|
38,028
|
$
|
18,111
|
$
|
37,272
|
||||||
|
||||||||||||
Noncash Activities:
|
||||||||||||
Loans transferred to foreclosed assets
|
$
|
1,374
|
$
|
123
|
$
|
1,184
|
||||||
Common stock issued in acquisition
|
$
|
10,650
|
$
|
-
|
$
|
-
|
||||||
|
||||||||||||
Cash Paid During the Period:
|
||||||||||||
Interest on deposits and borrowed funds
|
$
|
13,836
|
$
|
9,916
|
$
|
8,898
|
||||||
Income taxes
|
$
|
10,700
|
$
|
3,000
|
$
|
8,400
|
(in thousands)
|
Premier Bancshares, Inc.
|
|||
|
||||
Cash and due from banks
|
$
|
4,542
|
||
Federal funds sold
|
2,855
|
|||
Securities available for sale
|
5,892
|
|||
Loans
|
128,018
|
|||
Premises and equipment
|
9,493
|
|||
Goodwill
|
1,474
|
|||
Intangible assets
|
3,809
|
|||
Other real estate
|
221
|
|||
Other assets
|
2,009
|
|||
Total assets acquired
|
$
|
158,313
|
||
|
||||
Deposits
|
127,228
|
|||
FHLB borrowings
|
9,700
|
|||
Other liabilities
|
431
|
|||
Total liabilities assumed
|
$
|
137,359
|
||
Net assets acquired
|
$
|
20,954
|
(in thousands, except share data)
|
2017
|
2016
|
||||||
|
||||||||
Net Interest Income
|
$
|
55,663
|
$
|
53,190
|
||||
Noninterest Income
|
8,540
|
11,541
|
||||||
Noninterest Expense
|
42,434
|
39,395
|
||||||
Net Income
|
10,885
|
13,709
|
||||||
|
||||||||
Earnings per common share
|
$
|
1.24
|
$
|
1.56
|
|
December 31, 2017
|
December 31, 2016
|
||||||||||||||||||||||||||||||
(in thousands)
|
Amortized Cost
|
Gross
Unrealized Gains
|
Gross
Unrealized Losses
|
Fair Value
|
Amortized Cost
|
Gross
Unrealized Gains
|
Gross
Unrealized Losses
|
Fair Value
|
||||||||||||||||||||||||
Available for sale:
|
||||||||||||||||||||||||||||||||
U.S Treasuries
|
$
|
19,490
|
$
|
-
|
$
|
(4
|
)
|
$
|
19,486
|
$
|
29,994
|
$
|
-
|
$
|
-
|
$
|
29,994
|
|||||||||||||||
U.S. Government Agencies
|
200,052
|
-
|
(4,069
|
)
|
195,983
|
183,152
|
-
|
(4,820
|
)
|
178,332
|
||||||||||||||||||||||
Corporate debt securities
|
91,770
|
661
|
(946
|
)
|
91,485
|
132,448
|
1,624
|
(2,100
|
)
|
131,972
|
||||||||||||||||||||||
Mutual funds or other equity securities
|
500
|
-
|
(7
|
)
|
493
|
580
|
-
|
(7
|
)
|
573
|
||||||||||||||||||||||
Municipal bonds
|
37,210
|
2,434
|
(75
|
)
|
39,569
|
28,177
|
100
|
(320
|
)
|
27,957
|
||||||||||||||||||||||
Collateralized mortgage obligations
|
1,191
|
-
|
(6
|
)
|
1,185
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||
Mortgage-backed securities
|
33,680
|
-
|
(346
|
)
|
33,334
|
29,181
|
-
|
(536
|
)
|
28,645
|
||||||||||||||||||||||
Total available for sale securities
|
$
|
383,893
|
$
|
3,095
|
$
|
(5,453
|
)
|
$
|
381,535
|
$
|
403,532
|
$
|
1,724
|
$
|
(7,783
|
)
|
$
|
397,473
|
||||||||||||||
|
||||||||||||||||||||||||||||||||
Held to maturity:
|
||||||||||||||||||||||||||||||||
U.S. Government Agencies
|
$
|
28,169
|
$
|
-
|
$
|
(670
|
)
|
$
|
27,499
|
$
|
18,167
|
$
|
-
|
$
|
(655
|
)
|
$
|
17,512
|
||||||||||||||
Municipal bonds
|
5,322
|
15
|
(12
|
)
|
5,325
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||
Mortgage-backed securities
|
86,630
|
6
|
(903
|
)
|
85,733
|
83,696
|
-
|
(1,302
|
)
|
82,394
|
||||||||||||||||||||||
Total held to maturity securities
|
$
|
120,121
|
$
|
21
|
$
|
(1,585
|
)
|
$
|
118,557
|
$
|
101,863
|
$
|
-
|
$
|
(1,957
|
)
|
$
|
99,906
|
December 31, 2017
|
||||||||
(in thousands)
|
Amortized Cost
|
Fair Value
|
||||||
Available for sale:
|
||||||||
Due in one year or less
|
$
|
29,215
|
$
|
29,233
|
||||
Due after one year through five years
|
76,969
|
76,922
|
||||||
Due after five years through 10 years
|
217,238
|
214,769
|
||||||
Over 10 years
|
25,600
|
26,092
|
||||||
Subtotal
|
349,022
|
347,016
|
||||||
Collateralized mortgage obligations
|
1,191
|
1,185
|
||||||
Mortgage-backed Securities
|
33,680
|
33,334
|
||||||
Total available for sale securities
|
$
|
383,893
|
$
|
381,535
|
||||
|
||||||||
Held to maturity:
|
||||||||
Due in one year or less
|
$
|
-
|
$
|
-
|
||||
Due after one year through five years
|
5,124
|
5,057
|
||||||
Due after five years through 10 years
|
18,485
|
17,907
|
||||||
Over 10 years
|
9,882
|
9,860
|
||||||
Subtotal
|
33,491
|
32,824
|
||||||
Mortgage-backed Securities
|
86,630
|
85,733
|
||||||
Total held to maturity securities
|
$
|
120,121
|
$
|
118,557
|
|
At December 31, 2017
|
|||||||||||||||||||||||||||||||||||
|
Less Than 12 Months
|
12 Months or More
|
Total
|
|||||||||||||||||||||||||||||||||
(in thousands)
|
Number
of Securities
|
Fair Value
|
Gross
Unrealized Losses
|
Number
of Securities
|
Fair Value
|
Gross
Unrealized Losses
|
Number
of Securities
|
Fair Value
|
Gross
Unrealized Losses
|
|||||||||||||||||||||||||||
Available for sale:
|
||||||||||||||||||||||||||||||||||||
U.S. Treasuries
|
6
|
$
|
19,486
|
$
|
(4
|
)
|
-
|
$
|
-
|
$
|
-
|
6
|
$
|
19,486
|
$
|
(4
|
)
|
|||||||||||||||||||
U.S. Government Agencies
|
30
|
62,991
|
(519
|
)
|
36
|
132,992
|
(3,550
|
)
|
66
|
195,983
|
(4,069
|
)
|
||||||||||||||||||||||||
Corporate debt securities
|
56
|
19,050
|
(240
|
)
|
70
|
22,818
|
(706
|
)
|
126
|
41,868
|
(946
|
)
|
||||||||||||||||||||||||
Mutual funds or other equity securities
|
1
|
493
|
(7
|
)
|
-
|
-
|
-
|
1
|
493
|
(7
|
)
|
|||||||||||||||||||||||||
Municipal bonds
|
9
|
4,431
|
(36
|
)
|
1
|
1,079
|
(39
|
)
|
10
|
5,510
|
(75
|
)
|
||||||||||||||||||||||||
Collateralized mortgage obligations
|
4
|
936
|
(6
|
)
|
-
|
-
|
-
|
4
|
936
|
(6
|
)
|
|||||||||||||||||||||||||
Mortgage-backed securities
|
26
|
14,737
|
(73
|
)
|
11
|
18,313
|
(273
|
)
|
37
|
33,050
|
(346
|
)
|
||||||||||||||||||||||||
Total available for sale securities
|
132
|
$
|
122,124
|
$
|
(885
|
)
|
118
|
$
|
175,202
|
$
|
(4,568
|
)
|
250
|
$
|
297,326
|
$
|
(5,453
|
)
|
||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Held to maturity:
|
||||||||||||||||||||||||||||||||||||
U.S. Government Agencies
|
4
|
$
|
9,925
|
$
|
(75
|
)
|
10
|
$
|
17,574
|
$
|
(595
|
)
|
14
|
$
|
27,499
|
$
|
(670
|
)
|
||||||||||||||||||
Municipal bonds
|
6
|
3,191
|
(12
|
)
|
-
|
-
|
-
|
6
|
3,191
|
(12
|
)
|
|||||||||||||||||||||||||
Mortgage-backed securities
|
35
|
54,186
|
(515
|
)
|
17
|
26,852
|
(388
|
)
|
52
|
81,038
|
(903
|
)
|
||||||||||||||||||||||||
Total held to maturity securities
|
45
|
$
|
67,302
|
$
|
(602
|
)
|
27
|
$
|
44,426
|
$
|
(983
|
)
|
72
|
$
|
111,728
|
$
|
(1,585
|
)
|
|
At December 31, 2016
|
|||||||||||||||||||||||||||||||||||
|
Less Than 12 Months
|
12 Months or More
|
Total
|
|||||||||||||||||||||||||||||||||
(in thousands)
|
Number
of Securities
|
Fair Value
|
Gross
Unrealized Losses
|
Number
of Securities
|
Fair Value
|
Gross
Unrealized Losses
|
Number
of Securities
|
Fair Value
|
Gross
Unrealized Losses
|
|||||||||||||||||||||||||||
Available for sale:
|
||||||||||||||||||||||||||||||||||||
U.S. Treasuries
|
3
|
$
|
10,997
|
$
|
-
|
-
|
$
|
-
|
$
|
-
|
3
|
$
|
10,997
|
$
|
-
|
|||||||||||||||||||||
U.S. Government Agencies
|
54
|
178,331
|
(4,820
|
)
|
-
|
-
|
-
|
54
|
178,331
|
(4,820
|
)
|
|||||||||||||||||||||||||
Corporate debt securities
|
185
|
61,669
|
(1,613
|
)
|
26
|
6,440
|
(487
|
)
|
211
|
68,109
|
(2,100
|
)
|
||||||||||||||||||||||||
Mutual funds or other equity securities
|
1
|
493
|
(7
|
)
|
-
|
-
|
-
|
1
|
493
|
(7
|
)
|
|||||||||||||||||||||||||
Municipal bonds
|
14
|
10,210
|
(320
|
)
|
-
|
-
|
-
|
14
|
10,210
|
(320
|
)
|
|||||||||||||||||||||||||
Mortgage-backed securities
|
16
|
28,645
|
(536
|
)
|
-
|
-
|
-
|
16
|
28,645
|
(536
|
)
|
|||||||||||||||||||||||||
Total available for sale securities
|
273
|
$
|
290,345
|
$
|
(7,296
|
)
|
26
|
$
|
6,440
|
$
|
(487
|
)
|
299
|
$
|
296,785
|
$
|
(7,783
|
)
|
||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
Held to maturity:
|
||||||||||||||||||||||||||||||||||||
U.S. Government Agencies
|
10
|
$
|
17,512
|
$
|
(655
|
)
|
-
|
$
|
-
|
$
|
-
|
10
|
$
|
17,512
|
$
|
(655
|
)
|
|||||||||||||||||||
Mortgage-backed securities
|
48
|
82,394
|
(1,302
|
)
|
-
|
-
|
-
|
48
|
82,394
|
(1,302
|
)
|
|||||||||||||||||||||||||
Total held to maturity securities
|
58
|
$
|
99,906
|
$
|
(1,957
|
)
|
-
|
$
|
-
|
$
|
-
|
58
|
$
|
99,906
|
$
|
(1,957
|
)
|
(in thousands)
|
Year Ended
December 31, 2017
|
Year Ended
December 31,
2016
|
Year Ended
December 31,
2015
|
|||||||||
Total OTTI charge realized and unrealized
|
$
|
-
|
$
|
66
|
$
|
571
|
||||||
OTTI recognized in other comprehensive income (non-credit component)
|
-
|
6
|
396
|
|||||||||
Net impairment losses recognized in earnings (credit component)
|
$
|
-
|
$
|
60
|
$
|
175
|
(in thousands)
|
Year Ended
December 31, 2017
|
Year Ended
December 31,
2016
|
Year Ended
December 31,
2015
|
|||||||||
Beginning balance of credit losses at beginning of year
|
$
|
60
|
$
|
175
|
$
|
-
|
||||||
Other-than-temporary impairment credit losses on securities not previously OTTI
|
-
|
60
|
175
|
|||||||||
Increases for additional credit losses on securities previously determined to be OTTI
|
-
|
-
|
-
|
|||||||||
Reduction for increases in cash flows
|
-
|
-
|
-
|
|||||||||
Reduction due to credit impaired securities sold or fully settled
|
-
|
(175
|
)
|
-
|
||||||||
Ending balance of cumulative credit losses recognized in earnings at end of year
|
$
|
60
|
$
|
60
|
$
|
175
|
|
At December 31, 2017
|
|||||||
(in thousands)
|
Amortized Cost
|
Fair Value
|
||||||
U.S. Treasuries
|
$
|
19,490
|
$
|
19,486
|
||||
Federal Home Loan Bank (FHLB)
|
50,395
|
49,403
|
||||||
Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC)
|
57,569
|
57,008
|
||||||
Federal National Mortgage Association (Fannie Mae-FNMA)
|
103,644
|
101,757
|
||||||
Federal Farm Credit Bank (FFCB)
|
136,923
|
134,381
|
||||||
Total
|
$
|
368,021
|
$
|
362,035
|
|
December 31, 2017
|
December 31, 2016
|
||||||||||||||
(in thousands except for %)
|
Balance
|
As % of Category
|
Balance
|
As % of Category
|
||||||||||||
Real Estate:
|
||||||||||||||||
Construction & land development
|
$
|
112,603
|
9.8
|
%
|
$
|
84,239
|
8.9
|
%
|
||||||||
Farmland
|
25,691
|
2.2
|
%
|
21,138
|
2.2
|
%
|
||||||||||
1-4 Family
|
158,733
|
13.8
|
%
|
135,211
|
14.2
|
%
|
||||||||||
Multi-family
|
16,840
|
1.4
|
%
|
12,450
|
1.3
|
%
|
||||||||||
Non-farm non-residential
|
540,231
|
46.9
|
%
|
417,014
|
43.9
|
%
|
||||||||||
Total Real Estate
|
854,098
|
74.1
|
%
|
670,052
|
70.5
|
%
|
||||||||||
Non-Real Estate:
|
||||||||||||||||
Agricultural
|
21,514
|
1.9
|
%
|
23,783
|
2.5
|
%
|
||||||||||
Commercial and industrial
|
220,700
|
19.2
|
%
|
193,969
|
20.4
|
%
|
||||||||||
Consumer and other
|
55,185
|
4.8
|
%
|
63,011
|
6.6
|
%
|
||||||||||
Total Non-Real Estate
|
297,399
|
25.9
|
%
|
280,763
|
29.5
|
%
|
||||||||||
Total Loans Before Unearned Income
|
1,151,497
|
100.0
|
%
|
950,815
|
100.0
|
%
|
||||||||||
Unearned income
|
(2,483
|
)
|
(1,894
|
)
|
||||||||||||
Total Loans Net of Unearned Income
|
$
|
1,149,014
|
$
|
948,921
|
|
December 31, 2017
|
December 31, 2016
|
||||||||||||||||||||||
(in thousands)
|
Fixed
|
Floating
|
Total
|
Fixed
|
Floating
|
Total
|
||||||||||||||||||
One year or less
|
$
|
89,383
|
$
|
75,361
|
$
|
164,744
|
$
|
97,713
|
$
|
51,965
|
$
|
149,678
|
||||||||||||
One to five years
|
390,333
|
251,135
|
641,468
|
352,000
|
206,676
|
558,676
|
||||||||||||||||||
Five to 15 years
|
124,215
|
70,273
|
194,488
|
115,691
|
46,116
|
161,807
|
||||||||||||||||||
Over 15 years
|
70,366
|
67,881
|
138,247
|
53,150
|
5,830
|
58,980
|
||||||||||||||||||
Subtotal
|
$
|
674,297
|
$
|
464,650
|
1,138,947
|
$
|
618,554
|
$
|
310,587
|
929,141
|
||||||||||||||
Nonaccrual loans
|
12,550
|
21,674
|
||||||||||||||||||||||
Total Loans Before Unearned Income
|
1,151,497
|
950,815
|
||||||||||||||||||||||
Unearned income
|
(2,483
|
)
|
(1,894
|
)
|
||||||||||||||||||||
Total Loans Net of Unearned Income
|
$
|
1,149,014
|
$
|
948,921
|
|
As of December 31, 2017
|
|||||||||||||||||||||||
(in thousands)
|
30-89 Days Past Due
|
90 Days or
Greater Past Due
|
Total Past Due
|
Current
|
Total Loans
|
Recorded Investment
90 Days Accruing
|
||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||
Construction & land development
|
$
|
95
|
$
|
371
|
$
|
466
|
$
|
112,137
|
$
|
112,603
|
$
|
-
|
||||||||||||
Farmland
|
175
|
65
|
240
|
25,451
|
25,691
|
-
|
||||||||||||||||||
1-4 family
|
1,481
|
1,953
|
3,434
|
155,299
|
158,733
|
-
|
||||||||||||||||||
Multi-family
|
-
|
-
|
-
|
16,840
|
16,840
|
-
|
||||||||||||||||||
Non-farm non-residential
|
1,006
|
3,758
|
4,764
|
535,467
|
540,231
|
-
|
||||||||||||||||||
Total Real Estate
|
2,757
|
6,147
|
8,904
|
845,194
|
854,098
|
-
|
||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
239
|
1,537
|
1,776
|
19,738
|
21,514
|
41
|
||||||||||||||||||
Commercial and industrial
|
630
|
5,624
|
6,254
|
214,446
|
220,700
|
798
|
||||||||||||||||||
Consumer and other
|
463
|
81
|
544
|
54,641
|
55,185
|
-
|
||||||||||||||||||
Total Non-Real Estate
|
1,332
|
7,242
|
8,574
|
288,825
|
297,399
|
839
|
||||||||||||||||||
Total Loans Before Unearned Income
|
$
|
4,089
|
$
|
13,389
|
$
|
17,478
|
$
|
1,134,019
|
1,151,497
|
$
|
839
|
|||||||||||||
Unearned income
|
(2,483
|
)
|
||||||||||||||||||||||
Total Loans Net of Unearned Income
|
$
|
1,149,014
|
|
As of December 31, 2016
|
|||||||||||||||||||||||
(in thousands)
|
30-89 Days Past Due
|
90 Days or
Greater Past Due
|
Total Past Due
|
Current
|
Total Loans
|
Recorded Investment
90 Days Accruing
|
||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||
Construction & land development
|
$
|
173
|
$
|
585
|
$
|
758
|
$
|
83,481
|
$
|
84,239
|
$
|
34
|
||||||||||||
Farmland
|
234
|
105
|
339
|
20,799
|
21,138
|
-
|
||||||||||||||||||
1-4 family
|
1,108
|
2,387
|
3,495
|
131,716
|
135,211
|
145
|
||||||||||||||||||
Multi-family
|
-
|
5,014
|
5,014
|
7,436
|
12,450
|
-
|
||||||||||||||||||
Non-farm non-residential
|
1,618
|
2,753
|
4,371
|
412,643
|
417,014
|
-
|
||||||||||||||||||
Total Real Estate
|
3,133
|
10,844
|
13,977
|
656,075
|
670,052
|
179
|
||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
64
|
1,958
|
2,022
|
21,761
|
23,783
|
-
|
||||||||||||||||||
Commercial and industrial
|
552
|
8,070
|
8,622
|
185,347
|
193,969
|
-
|
||||||||||||||||||
Consumer and other
|
182
|
981
|
1,163
|
61,848
|
63,011
|
-
|
||||||||||||||||||
Total Non-Real Estate
|
798
|
11,009
|
11,807
|
268,956
|
280,763
|
-
|
||||||||||||||||||
Total Loans Before Unearned Income
|
$
|
3,931
|
$
|
21,853
|
$
|
25,784
|
$
|
925,031
|
950,815
|
$
|
179
|
|||||||||||||
Unearned income
|
(1,894
|
)
|
||||||||||||||||||||||
Total Loans Net of Unearned Income
|
$
|
948,921
|
|
As of December 31,
|
|||||||
(in thousands)
|
2017
|
2016
|
||||||
Real Estate:
|
||||||||
Construction & land development
|
$
|
371
|
$
|
551
|
||||
Farmland
|
65
|
105
|
||||||
1-4 family
|
1,953
|
2,242
|
||||||
Multi-family
|
-
|
5,014
|
||||||
Non-farm non-residential
|
3,758
|
2,753
|
||||||
Total Real Estate
|
6,147
|
10,665
|
||||||
Non-Real Estate:
|
||||||||
Agricultural
|
1,496
|
1,958
|
||||||
Commercial and industrial
|
4,826
|
8,070
|
||||||
Consumer and other
|
81
|
981
|
||||||
Total Non-Real Estate
|
6,403
|
11,009
|
||||||
Total Nonaccrual Loans
|
$
|
12,550
|
$
|
21,674
|
|
As of December 31, 2017
|
As of December 31, 2016
|
||||||||||||||||||||||||||||||||||||||
(in thousands)
|
Pass
|
Special Mention
|
Substandard
|
Doubtful
|
Total
|
Pass
|
Special Mention
|
Substandard
|
Doubtful
|
Total
|
||||||||||||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||||||||||||||||||
Construction & land development
|
$
|
108,200
|
$
|
125
|
$
|
4,278
|
$
|
-
|
$
|
112,603
|
$
|
79,069
|
$
|
1,162
|
$
|
4,008
|
$
|
-
|
$
|
84,239
|
||||||||||||||||||||
Farmland
|
25,030
|
569
|
92
|
-
|
25,691
|
20,652
|
381
|
105
|
-
|
21,138
|
||||||||||||||||||||||||||||||
1-4 family
|
149,426
|
1,856
|
7,451
|
-
|
158,733
|
123,191
|
5,460
|
6,560
|
-
|
135,211
|
||||||||||||||||||||||||||||||
Multi-family
|
9,366
|
639
|
6,835
|
-
|
16,840
|
4,268
|
1,132
|
7,050
|
-
|
12,450
|
||||||||||||||||||||||||||||||
Non-farm non-residential
|
520,432
|
2,490
|
17,309
|
-
|
540,231
|
392,355
|
6,406
|
18,253
|
-
|
417,014
|
||||||||||||||||||||||||||||||
Total Real Estate
|
812,454
|
5,679
|
35,965
|
-
|
854,098
|
619,535
|
14,541
|
35,976
|
-
|
670,052
|
||||||||||||||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||||||||||||||||||
Agricultural
|
19,050
|
995
|
1,469
|
-
|
21,514
|
20,890
|
920
|
1,973
|
-
|
23,783
|
||||||||||||||||||||||||||||||
Commercial and industrial
|
191,784
|
19,187
|
5,169
|
4,560
|
220,700
|
182,381
|
850
|
3,008
|
7,730
|
193,969
|
||||||||||||||||||||||||||||||
Consumer and other
|
48,225
|
68
|
6,892
|
-
|
55,185
|
60,582
|
1,394
|
1,035
|
-
|
63,011
|
||||||||||||||||||||||||||||||
Total Non-Real Estate
|
259,059
|
20,250
|
13,530
|
4,560
|
297,399
|
263,853
|
3,164
|
6,016
|
7,730
|
280,763
|
||||||||||||||||||||||||||||||
Total Loans Before Unearned Income
|
$
|
1,071,513
|
$
|
25,929
|
$
|
49,495
|
$
|
4,560
|
1,151,497
|
$
|
883,388
|
$
|
17,705
|
$
|
41,992
|
$
|
7,730
|
950,815
|
||||||||||||||||||||||
Unearned income
|
(2,483
|
)
|
(1,894
|
)
|
||||||||||||||||||||||||||||||||||||
Total Loans Net of Unearned Income
|
$
|
1,149,014
|
$
|
948,921
|
(in thousands)
|
As of December 31, 2017
|
|||
Real Estate:
|
||||
Construction & land development
|
$
|
1,135
|
||
Farmland
|
8
|
|||
1-4 family
|
50
|
|||
Multi-family
|
-
|
|||
Non-farm non-residential
|
2,148
|
|||
Total Real Estate
|
3,341
|
|||
Non-Real Estate:
|
||||
Agricultural
|
-
|
|||
Commercial and industrial
|
1,017
|
|||
Consumer and other
|
-
|
|||
Total Non-Real Estate
|
1,017
|
|||
Total Carrying Amount
|
$
|
4,358
|
||
Contractual principal balance
|
$
|
5,436
|
||
Carrying amount, net of allowance
|
$
|
4,358
|
(in thousands)
|
Year Ended
December 31, 2017
|
|||
Balance, beginning of period
|
$
|
-
|
||
Acquisition accretable yield
|
1,195
|
|||
Accretion
|
(164
|
)
|
||
Net transfers from nonaccretable difference to accretable yield
|
-
|
|||
Balance, end of period
|
$
|
1,031
|
|
As of December 31,
|
|||||||||||||||||||||||||||||||||||||||
|
2017
|
2016
|
||||||||||||||||||||||||||||||||||||||
(in thousands)
|
Beginning
Allowance
(12/31/16)
|
Charge-offs
|
Recoveries
|
Provision
|
Ending
Allowance
(12/31/17)
|
Beginning
Allowance
(12/31/15)
|
Charge-offs
|
Recoveries
|
Provision
|
Ending
Allowance
(12/31/16)
|
||||||||||||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||||||||||||||||||
Construction & land development
|
$
|
1,232
|
$
|
-
|
$
|
43
|
$
|
(647
|
)
|
$
|
628
|
$
|
962
|
$
|
-
|
$
|
4
|
$
|
266
|
$
|
1,232
|
|||||||||||||||||||
Farmland
|
19
|
-
|
-
|
(14
|
)
|
5
|
54
|
-
|
-
|
(35
|
)
|
19
|
||||||||||||||||||||||||||||
1-4 family
|
1,204
|
(33
|
)
|
92
|
(185
|
)
|
1,078
|
1,771
|
(244
|
)
|
45
|
(368
|
)
|
1,204
|
||||||||||||||||||||||||||
Multi-family
|
591
|
-
|
40
|
363
|
994
|
557
|
-
|
401
|
(367
|
)
|
591
|
|||||||||||||||||||||||||||||
Non-farm non-residential
|
3,451
|
(1,291
|
)
|
85
|
566
|
2,811
|
3,298
|
(1,373
|
)
|
16
|
1,510
|
3,451
|
||||||||||||||||||||||||||||
Total Real Estate
|
6,497
|
(1,324
|
)
|
260
|
83
|
5,516
|
6,642
|
(1,617
|
)
|
466
|
1,006
|
6,497
|
||||||||||||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||||||||||||||||||
Agricultural
|
74
|
(162
|
)
|
138
|
137
|
187
|
16
|
(83
|
)
|
113
|
28
|
74
|
||||||||||||||||||||||||||||
Commercial and industrial
|
3,543
|
(3,629
|
)
|
30
|
2,433
|
2,377
|
2,527
|
(579
|
)
|
146
|
1,449
|
3,543
|
||||||||||||||||||||||||||||
Consumer and other
|
972
|
(1,247
|
)
|
223
|
1,177
|
1,125
|
230
|
(635
|
)
|
183
|
1,194
|
972
|
||||||||||||||||||||||||||||
Unallocated
|
28
|
-
|
-
|
(8
|
)
|
20
|
-
|
-
|
-
|
28
|
28
|
|||||||||||||||||||||||||||||
Total Non-Real Estate
|
4,617
|
(5,038
|
)
|
391
|
3,739
|
3,709
|
2,773
|
(1,297
|
)
|
442
|
2,699
|
4,617
|
||||||||||||||||||||||||||||
Total
|
$
|
11,114
|
$
|
(6,362
|
)
|
$
|
651
|
$
|
3,822
|
$
|
9,225
|
$
|
9,415
|
$
|
(2,914
|
)
|
$
|
908
|
$
|
3,705
|
$
|
11,114
|
|
As of December 31,
|
|||||||||||||||||||
|
2015
|
|||||||||||||||||||
(in thousands)
|
Beginning
Allowance
(12/31/14)
|
Charge-offs
|
Recoveries
|
Provision
|
Ending
Allowance
(12/31/15)
|
|||||||||||||||
Real Estate:
|
||||||||||||||||||||
Construction & land development
|
$
|
702
|
$
|
(559
|
)
|
$
|
5
|
$
|
814
|
$
|
962
|
|||||||||
Farmland
|
21
|
-
|
-
|
33
|
54
|
|||||||||||||||
1-4 family
|
2,131
|
(410
|
)
|
94
|
(44
|
)
|
1,771
|
|||||||||||||
Multi-family
|
813
|
(947
|
)
|
46
|
645
|
557
|
||||||||||||||
Non-farm non-residential
|
2,713
|
(1,137
|
)
|
5
|
1,717
|
3,298
|
||||||||||||||
Total Real Estate
|
6,380
|
(3,053
|
)
|
150
|
3,165
|
6,642
|
||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||
Agricultural
|
293
|
(491
|
)
|
3
|
211
|
16
|
||||||||||||||
Commercial and industrial
|
1,797
|
(79
|
)
|
315
|
494
|
2,527
|
||||||||||||||
Consumer and other
|
371
|
(550
|
)
|
151
|
258
|
230
|
||||||||||||||
Unallocated
|
264
|
-
|
-
|
(264
|
)
|
-
|
||||||||||||||
Total Non-Real Estate
|
2,725
|
(1,120
|
)
|
469
|
699
|
2,773
|
||||||||||||||
Total
|
$
|
9,105
|
$
|
(4,173
|
)
|
$
|
619
|
$
|
3,864
|
$
|
9,415
|
|
As of December 31, 2017
|
|||||||||||||||||||||||
(in thousands)
|
Allowance
Individually
Evaluated
for Impairment
|
Allowance
Collectively Evaluated
for Impairment
|
Total Allowance
for Credit Losses
|
Loans
Individually
Evaluated
for Impairment
|
Loans
Collectively
Evaluated
for Impairment
|
Total Loans
before
Unearned Income
|
||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||
Construction & land development
|
$
|
-
|
$
|
628
|
$
|
628
|
$
|
-
|
$
|
112,603
|
$
|
112,603
|
||||||||||||
Farmland
|
-
|
5
|
5
|
-
|
25,691
|
25,691
|
||||||||||||||||||
1-4 family
|
-
|
1,078
|
1,078
|
-
|
158,733
|
158,733
|
||||||||||||||||||
Multi-family
|
-
|
994
|
994
|
-
|
16,840
|
16,840
|
||||||||||||||||||
Non-farm non-residential
|
236
|
2,575
|
2,811
|
8,990
|
531,241
|
540,231
|
||||||||||||||||||
Total Real Estate
|
236
|
5,280
|
5,516
|
8,990
|
845,108
|
854,098
|
||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
66
|
121
|
187
|
861
|
20,653
|
21,514
|
||||||||||||||||||
Commercial and industrial
|
565
|
1,812
|
2,377
|
5,731
|
214,969
|
220,700
|
||||||||||||||||||
Consumer and other
|
-
|
1,125
|
1,125
|
-
|
55,185
|
55,185
|
||||||||||||||||||
Unallocated
|
-
|
20
|
20
|
-
|
-
|
-
|
||||||||||||||||||
Total Non-Real Estate
|
631
|
3,078
|
3,709
|
6,592
|
290,807
|
297,399
|
||||||||||||||||||
Total
|
$
|
867
|
$
|
8,358
|
$
|
9,225
|
$
|
15,582
|
$
|
1,135,915
|
1,151,497
|
|||||||||||||
Unearned Income
|
(2,483
|
)
|
||||||||||||||||||||||
Total Loans Net of Unearned Income
|
$
|
1,149,014
|
|
As of December 31, 2016
|
|||||||||||||||||||||||
(in thousands)
|
Allowance
Individually
Evaluated
for Impairment
|
Allowance
Collectively
Evaluated
for Impairment
|
Total Allowance
for Credit Losses
|
Loans
Individually
Evaluated
for Impairment
|
Loans
Collectively
Evaluated
for Impairment
|
Total Loans
before
Unearned Income
|
||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||
Construction & land development
|
$
|
-
|
$
|
1,232
|
$
|
1,232
|
$
|
361
|
$
|
83,878
|
$
|
84,239
|
||||||||||||
Farmland
|
-
|
19
|
19
|
-
|
21,138
|
21,138
|
||||||||||||||||||
1-4 family
|
8
|
1,196
|
1,204
|
1,130
|
134,081
|
135,211
|
||||||||||||||||||
Multi-family
|
164
|
427
|
591
|
5,014
|
7,436
|
12,450
|
||||||||||||||||||
Non-farm non-residential
|
247
|
3,204
|
3,451
|
10,803
|
406,211
|
417,014
|
||||||||||||||||||
Total Real Estate
|
419
|
6,078
|
6,497
|
17,308
|
652,744
|
670,052
|
||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
11
|
63
|
74
|
1,614
|
22,169
|
23,783
|
||||||||||||||||||
Commercial and industrial
|
2,375
|
1,168
|
3,543
|
8,965
|
185,004
|
193,969
|
||||||||||||||||||
Consumer and other
|
193
|
779
|
972
|
924
|
62,087
|
63,011
|
||||||||||||||||||
Unallocated
|
-
|
28
|
28
|
-
|
-
|
-
|
||||||||||||||||||
Total Non-Real Estate
|
2,579
|
2,038
|
4,617
|
11,503
|
269,260
|
280,763
|
||||||||||||||||||
Total
|
$
|
2,998
|
$
|
8,116
|
$
|
11,114
|
$
|
28,811
|
$
|
922,004
|
950,815
|
|||||||||||||
Unearned Income
|
(1,894
|
)
|
||||||||||||||||||||||
Total Loans Net of Unearned Income
|
$
|
948,921
|
|
As of December 31, 2017
|
|||||||||||||||||||||||
(in thousands)
|
Recorded
Investment
|
Unpaid
Principal Balance
|
Related
Allowance
|
Average
Recorded Investment
|
Interest Income
Recognized
|
Interest Income
Cash Basis
|
||||||||||||||||||
Impaired Loans with no related allowance:
|
||||||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||
Construction & land development
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
1-4 family
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Multi-family
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Non-farm non-residential
|
5,771
|
5,771
|
-
|
5,933
|
248
|
279
|
||||||||||||||||||
Total Real Estate
|
5,771
|
5,771
|
-
|
5,933
|
248
|
279
|
||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Commercial and industrial
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Consumer and other
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Total Non-Real Estate
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Total Impaired Loans with no related allowance
|
5,771
|
5,771
|
-
|
5,933
|
248
|
279
|
||||||||||||||||||
|
||||||||||||||||||||||||
Impaired Loans with an allowance recorded:
|
||||||||||||||||||||||||
Real estate:
|
||||||||||||||||||||||||
Construction & land development
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
1-4 family
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Multi-family
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Non-farm non-residential
|
3,219
|
3,570
|
236
|
3,555
|
183
|
127
|
||||||||||||||||||
Total Real Estate
|
3,219
|
3,570
|
236
|
3,555
|
183
|
127
|
||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
861
|
920
|
66
|
1,117
|
70
|
17
|
||||||||||||||||||
Commercial and industrial
|
5,731
|
9,062
|
565
|
8,121
|
65
|
84
|
||||||||||||||||||
Consumer and other
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Total Non-Real Estate
|
6,592
|
9,982
|
631
|
9,238
|
135
|
101
|
||||||||||||||||||
Total Impaired Loans with an allowance recorded
|
9,811
|
13,552
|
867
|
12,793
|
318
|
228
|
||||||||||||||||||
|
||||||||||||||||||||||||
Total Impaired Loans
|
$
|
15,582
|
$
|
19,323
|
$
|
867
|
$
|
18,726
|
$
|
566
|
$
|
507
|
|
As of December 31, 2016
|
|||||||||||||||||||||||
(in thousands)
|
Recorded
Investment
|
Unpaid
Principal Balance
|
Related
Allowance
|
Average
Recorded Investment
|
Interest Income
Recognized
|
Interest Income
Cash Basis
|
||||||||||||||||||
Impaired Loans with no related allowance:
|
||||||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||
Construction & land development
|
$
|
361
|
$
|
823
|
$
|
-
|
$
|
363
|
$
|
-
|
$
|
-
|
||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
1-4 family
|
863
|
1,196
|
-
|
1,044
|
49
|
48
|
||||||||||||||||||
Multi-family
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Non-farm non-residential
|
8,501
|
9,430
|
-
|
8,949
|
196
|
175
|
||||||||||||||||||
Total Real Estate
|
9,725
|
11,449
|
-
|
10,356
|
245
|
223
|
||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
1,603
|
1,742
|
-
|
1,377
|
30
|
-
|
||||||||||||||||||
Commercial and industrial
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Consumer and other
|
686
|
685
|
-
|
724
|
18
|
12
|
||||||||||||||||||
Total Non-Real Estate
|
2,289
|
2,427
|
-
|
2,101
|
48
|
12
|
||||||||||||||||||
Total Impaired Loans with no related allowance
|
12,014
|
13,876
|
-
|
12,457
|
293
|
235
|
||||||||||||||||||
|
||||||||||||||||||||||||
Impaired Loans with an allowance recorded:
|
||||||||||||||||||||||||
Real estate:
|
||||||||||||||||||||||||
Construction & land development
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
1-4 family
|
267
|
303
|
8
|
279
|
-
|
-
|
||||||||||||||||||
Multi-family
|
5,014
|
5,305
|
164
|
5,169
|
-
|
-
|
||||||||||||||||||
Non-farm non-residential
|
2,302
|
2,296
|
247
|
2,334
|
119
|
113
|
||||||||||||||||||
Total Real Estate
|
7,583
|
7,904
|
419
|
7,782
|
119
|
113
|
||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||
Agricultural
|
11
|
11
|
11
|
11
|
-
|
-
|
||||||||||||||||||
Commercial and industrial
|
8,965
|
9,117
|
2,375
|
9,379
|
72
|
72
|
||||||||||||||||||
Consumer and other
|
238
|
244
|
193
|
289
|
8
|
7
|
||||||||||||||||||
Total Non-Real Estate
|
9,214
|
9,372
|
2,579
|
9,679
|
80
|
79
|
||||||||||||||||||
Total Impaired Loans with an allowance recorded
|
16,797
|
17,276
|
2,998
|
17,461
|
199
|
192
|
||||||||||||||||||
|
||||||||||||||||||||||||
Total Impaired Loans
|
$
|
28,811
|
$
|
31,152
|
$
|
2,998
|
$
|
29,918
|
$
|
492
|
$
|
427
|
Troubled Debt Restructurings
|
December 31, 2017
|
December 31, 2016
|
||||||||||||||||||||||||||||||
|
Accruing Loans
|
Accruing Loans
|
||||||||||||||||||||||||||||||
(in thousands)
|
Current
|
30-89 Days Past
Due
|
Nonaccrual
|
Total TDRs
|
Current
|
30-89 Days Past
Due
|
Nonaccrual
|
Total TDRs
|
||||||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||||||||||
Construction & land development
|
$
|
-
|
$
|
-
|
$
|
334
|
$
|
334
|
$
|
-
|
$
|
-
|
$
|
361
|
$
|
361
|
||||||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
1-4 family
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Multi-family
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Non-farm non-residential
|
2,138
|
-
|
-
|
2,138
|
2,987
|
-
|
100
|
3,087
|
||||||||||||||||||||||||
Total Real Estate
|
2,138
|
-
|
334
|
2,472
|
2,987
|
-
|
461
|
3,448
|
||||||||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||||||||||
Agricultural
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Commercial and industrial
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Consumer and other
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Total Non-Real Estate
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Total
|
$
|
2,138
|
$
|
-
|
$
|
334
|
$
|
2,472
|
$
|
2,987
|
$
|
-
|
$
|
461
|
$
|
3,448
|
|
Trouble Debt Restructured Loans Activity
Twelve Months Ended December 31, 2017
|
|||||||||||||||||||||||||||||||||||
(in thousands)
|
Beginning balance
(December 31, 2016)
|
New TDRs
|
Charge-offs
post-modification
|
Transferred
to ORE
|
Paydowns
|
Construction to
permanent financing
|
Restructured
to market terms
|
Other adjustments
|
Ending balance
(December 31, 2017)
|
|||||||||||||||||||||||||||
Real Estate:
|
||||||||||||||||||||||||||||||||||||
Construction & land development
|
$
|
361
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
(27
|
)
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
334
|
|||||||||||||||||
Farmland
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
1-4 family
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
Multi-family
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
Non-farm non-residential
|
3,087
|
-
|
(102
|
)
|
-
|
(849
|
)
|
-
|
-
|
2
|
2,138
|
|||||||||||||||||||||||||
Total Real Estate
|
3,448
|
-
|
(102
|
)
|
-
|
(876
|
)
|
-
|
-
|
2
|
2,472
|
|||||||||||||||||||||||||
Non-Real Estate:
|
||||||||||||||||||||||||||||||||||||
Agricultural
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
Commercial and industrial
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
Consumer and other
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
Total Non-Real Estate
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
Total Impaired Loans with no related allowance
|
$
|
3,448
|
$
|
-
|
$
|
(102
|
)
|
$
|
-
|
$
|
(876
|
)
|
$
|
-
|
$
|
-
|
$
|
2
|
$
|
2,472
|
(in thousands)
|
December 31, 2017
|
December 31, 2016
|
||||||
Land
|
$
|
12,875
|
$
|
7,185
|
||||
Bank premises
|
31,469
|
21,229
|
||||||
Furniture and equipment
|
24,305
|
21,689
|
||||||
Construction in progress
|
382
|
2,106
|
||||||
Acquired value
|
69,031
|
52,209
|
||||||
Less: accumulated depreciation
|
31,011
|
28,690
|
||||||
Net book value
|
$
|
38,020
|
$
|
23,519
|
|
December 31, 2017
|
December 31, 2016
|
||||||||||||||||||||||
(in thousands)
|
Gross
Carrying Amount
|
Accumulated
Amortization
|
Net
Carrying Amount
|
Gross
Carrying Amount
|
Accumulated
Amortization
|
Net
Carrying Amount
|
||||||||||||||||||
Core deposit intangibles
|
$
|
12,053
|
$
|
8,804
|
$
|
3,249
|
$
|
9,350
|
$
|
8,372
|
$
|
978
|
||||||||||||
Mortgage servicing rights
|
1,373
|
198
|
1,175
|
267
|
189
|
78
|
||||||||||||||||||
Total
|
$
|
13,426
|
$
|
9,002
|
$
|
4,424
|
$
|
9,617
|
$
|
8,561
|
$
|
1,056
|
For the Years Ended
|
Estimated Amortization Expense
(in thousands)
|
|||
December 31, 2018
|
$
|
545
|
||
December 31, 2019
|
$
|
361
|
||
December 31, 2020
|
$
|
361
|
||
December 31, 2021
|
$
|
293
|
||
December 31, 2022
|
$
|
225
|
(in thousands)
|
December 31, 2017
|
December 31, 2016
|
||||||
Real Estate Owned Acquired by Foreclosure:
|
||||||||
Residential
|
$
|
23
|
$
|
71
|
||||
Construction & land development
|
304
|
-
|
||||||
Non-farm non-residential
|
954
|
288
|
||||||
Total Other Real Estate Owned and Foreclosed Property
|
$
|
1,281
|
$
|
359
|
(in thousands)
|
December 31, 2017
|
|||
2018
|
$
|
357,687
|
||
2019
|
118,902
|
|||
2020
|
48,843
|
|||
2021
|
16,622
|
|||
2022 and thereafter
|
39,277
|
|||
Total
|
$
|
581,331
|
(in thousands)
|
December 31, 2017
|
December 31, 2016
|
||||||
Federal Home Loan Bank advances
|
$
|
15,500
|
$
|
6,500
|
||||
Line of credit
|
-
|
-
|
||||||
Total short-term borrowings
|
$
|
15,500
|
$
|
6,500
|
|
December 31,
|
|||||||||||
(in thousands except for %)
|
2017
|
2016
|
2015
|
|||||||||
Outstanding at year end
|
$
|
15,500
|
$
|
6,500
|
$
|
1,800
|
||||||
Maximum month-end outstanding
|
$
|
28,000
|
$
|
25,000
|
$
|
13,800
|
||||||
Average daily outstanding
|
$
|
5,833
|
$
|
8,775
|
$
|
4,217
|
||||||
Weighted average rate during the year
|
1.06
|
%
|
0.85
|
%
|
2.12
|
%
|
||||||
Weighted average rate at year end
|
1.51
|
%
|
0.65
|
%
|
4.50
|
%
|
(in thousands)
|
Senior
Long-term Debt
|
Junior
Subordinated Debentures
|
||||||
2018
|
$
|
2,941
|
$
|
-
|
||||
2019
|
2,941
|
-
|
||||||
2020
|
2,941
|
-
|
||||||
2021
|
2,941
|
-
|
||||||
2022
|
2,941
|
-
|
||||||
2023 and thereafter
|
8,089
|
15,000
|
||||||
Subtotal
|
$
|
22,794
|
$
|
15,000
|
||||
Debt issuance costs
|
(20
|
)
|
(336
|
)
|
||||
Total
|
$
|
22,774
|
$
|
14,664
|
|
Actual
|
Minimum Capital Requirements
|
Minimum to be Well Capitalized
Under Action Provisions
|
|||||||||||||||||||||
(in thousands except for %)
|
Amount
|
Ratio
|
Amount
|
Ratio
|
Amount
|
Ratio
|
||||||||||||||||||
December 31, 2017
|
||||||||||||||||||||||||
Total Risk-based Capital:
|
||||||||||||||||||||||||
Consolidated
|
$
|
164,545
|
12.14
|
%
|
$
|
108,427
|
8.00
|
%
|
N/A
|
N/A
|
||||||||||||||
Bank
|
$
|
176,398
|
13.07
|
%
|
$
|
107,961
|
8.00
|
%
|
$
|
134,951
|
10.00
|
%
|
||||||||||||
|
||||||||||||||||||||||||
Tier 1 Capital:
|
||||||||||||||||||||||||
Consolidated
|
$
|
140,320
|
10.35
|
%
|
$
|
81,320
|
6.00
|
%
|
N/A
|
N/A
|
||||||||||||||
Bank
|
$
|
167,173
|
12.39
|
%
|
$
|
80,971
|
6.00
|
%
|
$
|
107,961
|
8.00
|
%
|
||||||||||||
|
||||||||||||||||||||||||
Tier 1 Leverage Capital:
|
||||||||||||||||||||||||
Consolidated
|
$
|
140,320
|
8.27
|
%
|
$
|
67,899
|
4.00
|
%
|
N/A
|
N/A
|
||||||||||||||
Bank
|
$
|
167,173
|
9.88
|
%
|
$
|
67,709
|
4.00
|
%
|
$
|
84,636
|
5.00
|
%
|
||||||||||||
|
||||||||||||||||||||||||
Common Equity Tier One Capital:
|
||||||||||||||||||||||||
Consolidated
|
$
|
140,320
|
10.35
|
%
|
$
|
60,990
|
4.50
|
%
|
N/A
|
N/A
|
||||||||||||||
Bank
|
$
|
167,173
|
12.39
|
%
|
$
|
60,728
|
4.50
|
%
|
$
|
87,718
|
6.50
|
%
|
||||||||||||
|
||||||||||||||||||||||||
December 31, 2016
|
||||||||||||||||||||||||
Total Risk-based Capital:
|
||||||||||||||||||||||||
Consolidated
|
$
|
151,877
|
12.79
|
%
|
$
|
94,982
|
8.00
|
%
|
N/A
|
N/A
|
||||||||||||||
Bank
|
$
|
153,768
|
12.99
|
%
|
$
|
94,717
|
8.00
|
%
|
$
|
118,396
|
10.00
|
%
|
||||||||||||
|
||||||||||||||||||||||||
Tier 1 Capital:
|
||||||||||||||||||||||||
Consolidated
|
$
|
125,763
|
10.59
|
%
|
$
|
71,236
|
6.00
|
%
|
N/A
|
N/A
|
||||||||||||||
Bank
|
$
|
142,654
|
12.05
|
%
|
$
|
71,038
|
6.00
|
%
|
$
|
94,717
|
8.00
|
%
|
||||||||||||
|
||||||||||||||||||||||||
Tier 1 Leverage Capital:
|
||||||||||||||||||||||||
Consolidated
|
$
|
125,763
|
8.68
|
%
|
$
|
57,930
|
4.00
|
%
|
N/A
|
N/A
|
||||||||||||||
Bank
|
$
|
142,654
|
9.88
|
%
|
$
|
57,771
|
4.00
|
%
|
$
|
72,214
|
5.00
|
%
|
||||||||||||
|
||||||||||||||||||||||||
Common Equity Tier One Capital:
|
||||||||||||||||||||||||
Consolidated
|
$
|
125,763
|
10.59
|
%
|
$
|
53,427
|
4.50
|
%
|
N/A
|
N/A
|
||||||||||||||
Bank
|
$
|
142,654
|
12.05
|
%
|
$
|
53,278
|
4.50
|
%
|
$
|
76,958
|
6.50
|
%
|
|
December 31,
|
|||||||
(in thousands)
|
2017
|
2016
|
||||||
Balance, beginning of year
|
$
|
58,279
|
$
|
57,816
|
||||
Net Increase
|
24,639
|
463
|
||||||
Balance, end of year
|
$
|
82,918
|
$
|
58,279
|
|
December 31,
|
|||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
|||||||||
Other noninterest expense:
|
||||||||||||
Legal and professional fees
|
$
|
3,037
|
$
|
2,185
|
$
|
2,019
|
||||||
Data processing
|
1,608
|
1,259
|
1,184
|
|||||||||
ATM Fees
|
1,161
|
1,044
|
1,022
|
|||||||||
Marketing and public relations
|
1,205
|
878
|
848
|
|||||||||
Taxes - sales, capital and franchise
|
970
|
787
|
717
|
|||||||||
Operating supplies
|
496
|
471
|
414
|
|||||||||
Software expense and amortization
|
923
|
835
|
612
|
|||||||||
Travel and lodging
|
910
|
710
|
818
|
|||||||||
Telephone
|
167
|
177
|
172
|
|||||||||
Amortization of core deposits
|
432
|
320
|
320
|
|||||||||
Donations
|
322
|
298
|
332
|
|||||||||
Net costs from other real estate and repossessions
|
306
|
498
|
493
|
|||||||||
Regulatory assessment
|
726
|
1,005
|
1,111
|
|||||||||
Other
|
1,640
|
1,599
|
1,692
|
|||||||||
Total other noninterest expense
|
$
|
13,903
|
$
|
12,066
|
$
|
11,754
|
|
December 31,
|
|||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
|||||||||
Current
|
$
|
4,638
|
$
|
8,168
|
$
|
7,347
|
||||||
Deferred
|
2,761
|
(1,004
|
)
|
(384
|
)
|
|||||||
Total
|
$
|
7,399
|
$
|
7,164
|
$
|
6,963
|
|
December 31,
|
|||||||||||
(in thousands except for %)
|
2017
|
2016
|
2015
|
|||||||||
Statutory tax rate
|
35.0
|
%
|
35.0
|
%
|
35.0
|
%
|
||||||
|
||||||||||||
Federal income taxes at statutory rate
|
$
|
6,703
|
$
|
7,440
|
$
|
7,514
|
||||||
Tax exempt municipal income
|
(254
|
)
|
(283
|
)
|
(436
|
)
|
||||||
Other(1)
|
950
|
7
|
(115
|
)
|
||||||||
Total
|
$
|
7,399
|
$
|
7,164
|
$
|
6,963
|
|
December 31,
|
|||||||
(in thousands)
|
2017
|
2016
|
||||||
Deferred tax assets:
|
||||||||
Allowance for loan losses
|
$
|
1,804
|
$
|
3,890
|
||||
Other real estate owned
|
25
|
60
|
||||||
Unrealized losses on available for sale securities
|
495
|
2,060
|
||||||
Net operating loss
|
1,463
|
-
|
||||||
Other
|
546
|
449
|
||||||
Gross deferred tax assets
|
4,333
|
6,459
|
||||||
|
||||||||
Deferred tax liabilities:
|
||||||||
Depreciation and amortization
|
(1,688
|
)
|
(1,480
|
)
|
||||
Core deposit intangibles
|
(662
|
)
|
(342
|
)
|
||||
Unrealized gains on available for sale securities
|
-
|
-
|
||||||
Other
|
(566
|
)
|
(376
|
)
|
||||
Gross deferred tax liabilities
|
(2,916
|
)
|
(2,198
|
)
|
||||
|
||||||||
Net deferred tax assets
|
$
|
1,417
|
$
|
4,261
|
(in thousands)
|
December 31, 2017
|
December 31, 2016
|
||||||
Contract Amount
|
||||||||
Commitments to Extend Credit
|
$
|
78,125
|
$
|
56,910
|
||||
Unfunded Commitments under lines of credit
|
$
|
101,344
|
$
|
128,428
|
||||
Commercial and Standby letters of credit
|
$
|
7,886
|
$
|
6,602
|
(in thousands)
|
December 31, 2017
|
December 31, 2016
|
||||||
Available for Sale Securities Fair Value Measurements Using:
|
||||||||
Level 1:Quoted Prices in Active Markets For Identical Assets
|
$
|
19,980
|
$
|
30,487
|
||||
Level 2: Significant Other Observable Inputs
|
355,022
|
347,586
|
||||||
Level 3: Significant Unobservable Inputs
|
6,533
|
19,400
|
||||||
Securities available for sale measured at fair value
|
$
|
381,535
|
$
|
397,473
|
|
Level 3 Changes
|
|||||||
(in thousands)
|
December 31, 2017
|
December 31, 2016
|
||||||
Balance, beginning of year
|
$
|
19,400
|
$
|
7,701
|
||||
Total gains or losses (realized/unrealized):
|
||||||||
Included in earnings
|
54
|
-
|
||||||
Included in other comprehensive income
|
-
|
-
|
||||||
Purchases, sales, issuances and settlements, net
|
10,574
|
11,699
|
||||||
Transfers in and/or out of Level 3
|
(23,495
|
)
|
-
|
|||||
Balance as of end of year
|
$
|
6,533
|
$
|
19,400
|
(in thousands)
|
At December 31, 2017
|
At December 31, 2016
|
||||||
Fair Value Measurements Using: Impaired Loans
|
||||||||
Level 1: Quoted Prices in Active Markets For Identical Assets
|
$
|
-
|
$
|
-
|
||||
Level 2: Significant Other Observable Inputs
|
-
|
259
|
||||||
Level 3: Significant Unobservable Inputs
|
12,003
|
18,559
|
||||||
Impaired loans measured at fair value
|
$
|
12,003
|
$
|
18,818
|
||||
|
||||||||
Fair Value Measurements Using: Other Real Estate Owned
|
||||||||
Level 1: Quoted Prices in Active Markets For Identical Assets
|
$
|
-
|
$
|
-
|
||||
Level 2: Significant Other Observable Inputs
|
1,249
|
226
|
||||||
Level 3: Significant Unobservable Inputs
|
32
|
133
|
||||||
Other real estate owned measured at fair value
|
$
|
1,281
|
$
|
359
|
|
December 31,
|
|||||||||||||||
|
2017
|
2016
|
||||||||||||||
(in thousands)
|
Carrying Value
|
Estimated Fair Value
|
Carrying Value
|
Estimated Fair Value
|
||||||||||||
Assets
|
||||||||||||||||
Cash and cash equivalents
|
$
|
38,028
|
$
|
38,028
|
$
|
18,111
|
$
|
18,111
|
||||||||
Securities, available for sale
|
$
|
381,535
|
$
|
381,535
|
$
|
397,473
|
$
|
397,473
|
||||||||
Securities, held to maturity
|
$
|
120,121
|
$
|
118,557
|
$
|
101,863
|
$
|
99,906
|
||||||||
Federal Home Loan Bank stock
|
$
|
2,351
|
$
|
2,351
|
$
|
1,816
|
$
|
1,816
|
||||||||
Loans held for sale
|
$
|
1,308
|
$
|
1,439
|
$
|
-
|
$
|
-
|
||||||||
Loans, net
|
$
|
1,139,789
|
$
|
1,133,868
|
$
|
937,807
|
$
|
937,495
|
||||||||
Accrued interest receivable
|
$
|
7,982
|
$
|
7,982
|
$
|
7,039
|
$
|
7,039
|
||||||||
|
||||||||||||||||
Liabilities
|
||||||||||||||||
Deposits
|
$
|
1,549,286
|
$
|
1,549,449
|
$
|
1,326,181
|
$
|
1,325,972
|
||||||||
Borrowings
|
$
|
38,274
|
$
|
38,294
|
$
|
28,600
|
$
|
28,625
|
||||||||
Junior subordinated debentures
|
$
|
14,664
|
$
|
14,324
|
$
|
14,630
|
$
|
13,909
|
||||||||
Accrued interest payable
|
$
|
2,488
|
$
|
2,488
|
$
|
1,931
|
$
|
1,931
|
|
December 31,
|
|||||||
(in thousands)
|
2017
|
2016
|
||||||
Assets
|
||||||||
Cash
|
$
|
5,214
|
$
|
16,088
|
||||
Investment in bank subsidiary
|
170,836
|
141,241
|
||||||
Investment Securities (available for sale, at fair value)
|
-
|
80
|
||||||
Other assets
|
6,086
|
4,197
|
||||||
Total Assets
|
$
|
182,136
|
$
|
161,606
|
||||
|
||||||||
Liabilities and Shareholders' Equity
|
||||||||
Short-term debt
|
$
|
-
|
$
|
-
|
||||
Senior long-term debt
|
22,774
|
22,100
|
||||||
Junior subordinated debentures
|
14,664
|
14,630
|
||||||
Other liabilities
|
715
|
527
|
||||||
Total Liabilities
|
38,153
|
37,257
|
||||||
Shareholders' Equity
|
143,983
|
124,349
|
||||||
Total Liabilities and Shareholders' Equity
|
$
|
182,136
|
$
|
161,606
|
|
December 31,
|
|||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
|||||||||
Operating Income
|
||||||||||||
Dividends received from bank subsidiary
|
$
|
10,622
|
$
|
11,858
|
$
|
9,843
|
||||||
Net gains on securities
|
54
|
-
|
2,652
|
|||||||||
Other income
|
171
|
160
|
261
|
|||||||||
Total operating income
|
10,847
|
12,018
|
12,756
|
|||||||||
|
||||||||||||
Operating Expenses
|
||||||||||||
Interest expense
|
1,518
|
1,444
|
192
|
|||||||||
Salaries & Benefits
|
495
|
200
|
172
|
|||||||||
Other expenses
|
1,147
|
948
|
766
|
|||||||||
Total operating expenses
|
3,160
|
2,592
|
1,130
|
|||||||||
|
||||||||||||
Income before income tax benefit and increase in equity in undistributed earnings of subsidiary
|
7,687
|
9,426
|
11,626
|
|||||||||
Income tax benefit (expense)
|
834
|
846
|
(605
|
)
|
||||||||
Income before increase in equity in undistributed earnings of subsidiary
|
8,521
|
10,272
|
11,021
|
|||||||||
Increase in equity in undistributed earnings of subsidiary
|
3,230
|
3,821
|
3,484
|
|||||||||
Net Income
|
11,751
|
14,093
|
14,505
|
|||||||||
Less preferred stock dividends
|
-
|
-
|
(384
|
)
|
||||||||
Net income available to common shareholders
|
$
|
11,751
|
$
|
14,093
|
$
|
14,121
|
|
December 31,
|
|||||||||||
(in thousands)
|
2017
|
2016
|
2015
|
|||||||||
Cash flows from operating activities:
|
||||||||||||
Net income
|
$
|
11,751
|
$
|
14,093
|
$
|
14,505
|
||||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||||||
Increase in equity in undistributed earnings of subsidiary
|
$
|
(3,230
|
)
|
$
|
(3,821
|
)
|
(3,484
|
)
|
||||
Depreciation and amortization
|
43
|
7
|
-
|
|||||||||
Gain on sale of securities
|
(54
|
)
|
-
|
(2,652
|
)
|
|||||||
Net change in other liabilities
|
187
|
318
|
(28
|
)
|
||||||||
Net change in other assets
|
(1,306
|
)
|
(971
|
)
|
396
|
|||||||
Net cash provided by operating activities
|
7,391
|
9,626
|
8,737
|
|||||||||
|
||||||||||||
Cash flows from investing activities:
|
||||||||||||
Proceeds from maturities, calls and sales of AFS securities
|
134
|
-
|
4,152
|
|||||||||
Funds invested in AFS securities
|
-
|
-
|
(10
|
)
|
||||||||
Funds invested in bank subsidiary
|
(3,750
|
)
|
-
|
-
|
||||||||
Cash paid in acquisition
|
(10,108
|
)
|
-
|
-
|
||||||||
Net cash provided by (used in) investing activities
|
(13,724
|
)
|
-
|
4,142
|
||||||||
|
||||||||||||
Cash flows from financing activities:
|
||||||||||||
Net decrease in short-term borrowings
|
-
|
(1,800
|
)
|
-
|
||||||||
Proceeds from long-term debt, net of costs
|
3,750
|
-
|
24,969
|
|||||||||
Repayment of long-term debt
|
(3,081
|
)
|
(3,730
|
)
|
(1,584
|
)
|
||||||
Proceeds from junior subordinated debentures, net of costs
|
-
|
-
|
14,597
|
|||||||||
Issuance of common stock, net of costs
|
-
|
-
|
9,344
|
|||||||||
Redemption of preferred stock
|
-
|
-
|
(39,435
|
)
|
||||||||
Dividends paid
|
(5,210
|
)
|
(4,870
|
)
|
(4,631
|
)
|
||||||
Net cash (used in) provided by financing activities
|
(4,541
|
)
|
(10,400
|
)
|
3,260
|
|||||||
|
||||||||||||
Net (decrease) increase in cash and cash equivalents
|
(10,874
|
)
|
(774
|
)
|
16,139
|
|||||||
Cash and cash equivalents at the beginning of the period
|
16,088
|
16,862
|
723
|
|||||||||
Cash and cash equivalents at the end of the period
|
$
|
5,214
|
$
|
16,088
|
$
|
16,862
|
(a) 1
|
Consolidated Financial Statements
|
|
|
|
|
|
Item
|
Page
|
|
First Guaranty Bancshares, Inc. and Subsidiary
|
|
|
Report of Independent Registered Accounting Firm
|
52
|
|
Consolidated Balance Sheets - December 31, 2017 and 2016
|
53
|
|
Consolidated Statements of Income – Years Ended December 31, 2017, 2016 and 2015
|
54
|
|
Consolidated Statements of Comprehensive Income – Years Ended December 31, 2017, 2016 and 2015
|
55
|
|
Consolidated Statements of Changes in Shareholders' Equity -Years Ended December 31, 2017, 2016 and 2015
|
56
|
|
Consolidated Statements of Cash Flows - Years Ended December 31, 2017, 2016 and 2015
|
57
|
|
Notes to Consolidated Financial Statements
|
58
|
|
|
|
2
|
Consolidated Financial Statement Schedules
|
|
|
All schedules to the consolidated financial statements of First Guaranty Bancshares, Inc. and its subsidiary have been omitted because they are not required under the related instructions or are inapplicable, or because the required information has been provided in the consolidated financial statements or the notes thereto.
|
|
|
|
|
3
|
Exhibits
|
|
|
The exhibits required by Regulation S-K are set forth in the following list and are filed either by incorporation by reference from previous filings with the Securities and Exchange Commission or by attachment to this Annual Report on Form 10-K as indicated below.
|
|
Exhibit Number
|
Exhibit
|
2.1
|
|
3.1
|
|
3.2
|
|
3.3
|
|
3.4
|
|
4.1
|
|
4.2
|
|
10.1
|
|
10.2
|
|
10.3
|
|
10.4
|
|
14.3
|
|
14.4
|
|
21
|
|
23.1 | Consent of Independent Registered Public Accounting Firm |
31.1
|
|
31.2
|
|
32.1
|
|
32.2
|
|
101.INS
|
XBRL Instance Document
|
101.SCH
|
XBRL Taxonomy Extension Schema.
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase.
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase.
|
101.PRE
|
XBRL Taxonomy Extension Label Linkbase.
|
101.LAB
|
XBRL Taxonomy Extension Presentation Linkbaset
|
(1) |
Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K12G3 filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on August 2, 2007.
|
(2) |
Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on September 23, 2011.
|
(3) |
Incorporated by reference to Exhibit 3.2 of the Current Report on Form 8-K12G3 filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on August 2, 2007.
|
(4) |
Incorporated by reference to Exhibit 3.3 of the Current Report on Form 8-K12G3 filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on August 2, 2007.
|
(5) |
Incorporated by reference to Exhibit 4 of the Current Report on Form 8-K12G3 filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on August 2, 2007.
|
(6) |
Incorporated by reference to Exhibit 4.1 of the Current Report on Form 8-K filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on December 23, 2015.
|
(7) |
Incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on December 23, 2015.
|
(8) |
Incorporated by reference to Exhibit 10.2 of the Current Report on Form 8-K filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on December 23, 2015.
|
(9) |
Incorporated by reference to Exhibit 10.3 of the Current Report on Form 8-K filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on December 23, 2015.
|
(10) |
Incorporated by reference to Exhibit 10.4 of the Current Report on Form 8-K filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on December 23, 2015.
|
(11) |
Incorporated by reference to Exhibit 21 of the Registration statement on Form S-1 filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on October 24, 2014.
|
(12) |
Incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed by First Guaranty Bancshares, Inc. with the Securities and Exchange Commission on November 20, 2017.
|
/s/ Alton B. Lewis
|
President,
Chief Executive Officer and Director
(Principal Executive Officer)
|
March 16, 2018
|
|
Alton B. Lewis
|
|
|
|
|
|
|
|
/s/ Eric J. Dosch
|
Chief Financial Officer,
Secretary and Treasurer
(Principal Financial and Accounting Officer)
|
March 16, 2018
|
|
Eric J. Dosch
|
|
|
|
|
|
|
|
/s/ Marshall T. Reynolds
|
Chairman of the Board
|
March 16, 2018
|
|
Marshall T. Reynolds
|
|
|
|
|
|
|
|
/s/ William K. Hood
|
Director
|
March 16, 2018
|
|
William K. Hood
|
|
|
|
|
|
|
|
/s/ Jack Rossi
|
Director
|
March 16, 2018
|
|
Jack Rossi
|
|
|
|
/s/ Edgar R. Smith, III
|
Director
|
March 16, 2018
|
|
Edgar R. Smith, III
|
· |
Gifts of reasonable value based on a family or personal relationship where that relationship is the obvious motivating factor for the gift;
|
· |
Discounts or rebates on merchandise or services that do not exceed those available to other customers of the merchant;
|
· |
Awards for recognition of service or accomplishments from civic, charitable, educational, or religious organizations.
|
· |
Engaging in any activity that competes with the Company.
|
· |
Employment which involves the use of our equipment, supplies, or facilities.
|
· |
Employment which involves the preparation, audit or certification of financial statements, tax returns, or other documents upon which we may rely for lending or other decisions. Senior Managers and employees who prepare income tax returns for individuals or entities other than themselves must obtain confirmation that the customer does not intend to use the officer's or employee's work product as part of any transaction with the Company.
|
· |
Employment which involves giving investment, legal or other advice, or exercising judgment which is based upon information, reports, or analyses that are accessible from the Company.
|
· |
Employment which may reflect adversely on the officer, employee, or the Company.
|
· |
Employment under circumstances which may suggest the sponsorship or support of the Company on behalf of the outside employer or an outside organization.
|
· |
Employment as an insurance or securities broker, agent or representative.
|
· |
Employment as a real estate salesman, broker, agent, or contractor, (except with the prior written approval of Chief Executive Officer).
|
· |
We do not sell or rent customers’ personal information.
|
· |
We do not release customer information to third parties, except upon a customer’s authorization or when required by law. Employees may not discuss the business affairs of any customer with any other person, except on a strict need-to-know basis
|
· |
Third-Party service providers and vendors with access to customer information are required to keep customer information confidential and use it only to provide services to or for the Company.
|
1. |
Any employee or officer who becomes aware of a past or present Code Violation is required to promptly report the facts and circumstances to his or her immediate supervisor, and simultaneously to the Human Resource Officer. Once the supervisor has been advised of a Code Violation, the supervisor is required to promptly confirm the matter with the Human Resource Officer. Directors should contact the Chief Executive Officer, the Corporate Secretary, or the Chair of the Audit Committee. The Audit Committee of the Board of Directors in particular will be notified promptly about any Code Violation regarding accounting or auditing matters as well as the full board at its next regular meeting unless, in the judgment of the CEO, the matter needs to be addressed sooner.
|
2. |
An investigation into the reported Code Violation will be conducted promptly by the Human Resource Officer in consultation with the Chief Executive Officer or Audit Committee, as appropriate. Facts and circumstances in the report will be reported so as to protect, to the greatest extent possible, the anonymity of the reporting person.
|
3. |
If the Human Resource Officer and the Chief Executive Officer are not able to promptly resolve the Code Violation to their mutual satisfaction, the Human Resource Officer and the Chief Executive Officer shall promptly confer with the Audit Committee of the Board of Directors to resolve the Code Violation consistent with this Code and applicable laws and regulations.
|
4. |
Illegal or criminal conduct will also be reported to our primary regulators and any law enforcement agencies with jurisdiction consistent with confidentiality and the protection of applicable privacy privileges. We will cooperate fully with such authorities in their prosecution of parties responsible for impermissible, illegal, or criminal conduct.
|
5. |
In the event of legal proceedings, the reporting person(s) may be deposed, interviewed, and asked to testify, just as any other person having knowledge of the relevant facts and circumstances would be. We will seek to protect the identity of the reporting person to the greatest extent practicable.
|
1. |
The Audit Committee of the Board - if the waiver sought relates to any executive officer (title of Senior Vice President or higher), and any Senior Financial Officer (CEO, CFO and all Accounting, Audit and/or Compliance officers, with the title of Vice President or higher).
|
2. |
The Human Resource Officer - if the waiver sought relates to any other employee. The determination shall be made by the employee’s immediate supervisor, in consultation with the Human Resource Officer unless such request is quantitatively or qualitatively material or outside the ordinary course of business, in which case such determination shall be made by the Audit Committee.
|
3. |
The decision with respect to the waiver request shall be documented and forwarded to the Human Resource Officer for filing and retention, with a copy to the Audit Committee of the Board of Directors.
|
4. |
All waivers of the Code shall be reported promptly by the Audit Committee or Human Resource Officer, as applicable, to the Board of Directors.
|
5. |
Waivers shall be publicly disclosed on a timely basis as determined by the Board of Directors in consultation with the Compliance Officer and/or legal counsel.
|
Sign here: _________________________________________
|
|
|
|
|
|
Print:
|
|
|
|
|
|
Name _____________________________________________
|
Title _______________________
|
Date _____/_____/_____
|
A. |
INTRODUCTION
|
· |
Chief Executive Officer
|
· |
Chief Financial Officer
|
· |
All Executive Officers
|
B. |
STANDARDS OF CONDUCT
|
· |
Honest and Ethical Conduct
|
· |
Full Disclosure
|
· |
Compliance with Laws, Rules and Regulations
|
· |
Reporting of Code Violations
|
· |
Accountability
|
C. |
AMENDMENTS TO OR WAIVERS OF THIS CODE
|
Sign here: _________________________________________
|
|
|
|
|
|
Print:
|
|
|
|
|
|
Name _____________________________________________
|
Title _______________________
|
Date _____/_____/_____
|
1. |
I have reviewed this Annual Report on Form 10-K of First Guaranty Bancshares, Inc.;
|
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;
|
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4. |
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a) |
designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b) |
designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c) |
evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d) |
disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;
|
5. |
The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a) |
all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b) |
any fraud, whether or not material, that involves Management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
1. |
I have reviewed this Annual Report on Form 10-K of First Guaranty Bancshares, Inc.;
|
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;
|
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4. |
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a) |
designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b) |
designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c) |
evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d) |
disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;
|
5. |
The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a) |
all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b) |
any fraud, whether or not material, that involves Management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
(1) |
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2) |
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
(1) |
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2) |
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
Document and Entity Information - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Mar. 15, 2018 |
Jun. 30, 2017 |
|
Document and Entity Information [Abstract] | |||
Entity Registrant Name | First Guaranty Bancshares, Inc. | ||
Entity Central Index Key | 0001408534 | ||
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 | Accelerated Filer | ||
Entity Public Float | $ 111,683,537 | ||
Entity Common Stock, Shares Outstanding | 8,807,175 | ||
Document Fiscal Year Focus | 2017 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands |
1 Months Ended | 12 Months Ended | |
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Investment securities: | |||
Held to maturity, estimated fair value | $ 118,557 | $ 118,557 | $ 99,906 |
Common stock: | |||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 100,600,000 | 100,600,000 | 100,600,000 |
Common stock, shares issued (in shares) | 8,807,175 | 8,807,175 | 8,369,424 |
Common stock, dividend paid percentage | 10.00% | ||
Common stock, dividend paid date | Dec. 14, 2017 | ||
Common stock, dividend record date | Dec. 08, 2017 |
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
||||
Interest Income: | ||||||
Loans (including fees) | $ 54,034 | $ 45,495 | $ 42,536 | |||
Deposits with other banks | 178 | 69 | 72 | |||
Securities (including FHLB stock) | 13,325 | 12,968 | 13,471 | |||
Federal funds sold | 9 | 0 | 0 | |||
Total Interest Income | 67,546 | 58,532 | 56,079 | |||
Interest Expense: | ||||||
Demand deposits | 5,526 | 2,633 | 1,419 | |||
Savings deposits | 201 | 80 | 38 | |||
Time deposits | 7,112 | 5,954 | 6,985 | |||
Borrowings | 1,554 | 1,473 | 166 | |||
Total Interest Expense | 14,393 | 10,140 | 8,608 | |||
Net Interest Income | 53,153 | 48,392 | 47,471 | |||
Less: Provision for loan losses | 3,822 | 3,705 | 3,864 | |||
Net Interest Income after Provision for Loan Losses | 49,331 | 44,687 | 43,607 | |||
Noninterest Income: | ||||||
Service charges, commissions and fees | 2,589 | 2,388 | 2,736 | |||
ATM and debit card fees | 1,986 | 1,859 | 1,779 | |||
Net gains on securities | 1,397 | 3,799 | 3,300 | |||
Net gains on sale of loans | 311 | 14 | 4 | |||
Other | 2,057 | 1,395 | 1,137 | |||
Total Noninterest Income | 8,340 | 9,455 | 8,956 | |||
Noninterest Expense: | ||||||
Salaries and employee benefits | 20,113 | 16,577 | 15,496 | |||
Occupancy and equipment expense | 4,505 | 4,242 | 3,845 | |||
Other | 13,903 | 12,066 | 11,754 | |||
Total Noninterest Expense | 38,521 | 32,885 | 31,095 | |||
Income Before Income Taxes | 19,150 | 21,257 | 21,468 | |||
Less: Provision for income taxes | 7,399 | 7,164 | 6,963 | |||
Net Income | 11,751 | 14,093 | 14,505 | |||
Preferred stock dividends | 0 | 0 | (384) | |||
Income Available to Common Shareholders | $ 11,751 | $ 14,093 | $ 14,121 | |||
Per Common Share: | ||||||
Earnings (in dollars per share) | [1] | $ 1.37 | $ 1.68 | $ 1.83 | ||
Cash dividends paid (in dollars per share) | [1] | $ 0.60 | $ 0.58 | $ 0.54 | ||
Weighted Average Common Shares Outstanding (in shares) | 8,608,088 | 8,369,424 | 7,714,620 | |||
|
CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) |
1 Months Ended | 12 Months Ended | |
---|---|---|---|
Dec. 14, 2017 |
Dec. 31, 2017 |
Dec. 31, 2017 |
|
Per Common Share: | |||
Common stock, dividend paid percentage | 10.00% | 10.00% | |
Common stock, dividend paid date | Dec. 14, 2017 | ||
Common stock, dividend record date | Dec. 08, 2017 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) [Abstract] | |||
Net Income | $ 11,751 | $ 14,093 | $ 14,505 |
Unrealized gains (losses) on securities: | |||
Unrealized holding gains (losses) arising during the period | 5,098 | (955) | 1,394 |
Reclassification adjustments for net gains included in net income | (1,397) | (3,799) | (3,300) |
Reclassification of OTTI losses included in net income | 0 | 60 | 175 |
Change in unrealized gains (losses) on securities | 3,701 | (4,694) | (1,731) |
Tax impact | (1,258) | 1,596 | 589 |
Other comprehensive income (loss) | 2,443 | (3,098) | (1,142) |
Comprehensive Income | $ 14,194 | $ 10,995 | $ 13,363 |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands |
Preferred Stock [Member]
Series C Preferred Stock $1,000 Par [Member]
|
Common Stock $1 Par [Member] |
Surplus [Member] |
Treasury Stock [Member] |
Retained Earnings [Member] |
Accumulated Other Comprehensive Income/(Loss) [Member] |
Total |
|||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Balance at Dec. 31, 2014 | [1] | $ 39,435 | $ 7,615 | $ 69,311 | $ (54) | $ 23,035 | $ 241 | $ 139,583 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Net income | 0 | 0 | 0 | 0 | 14,505 | 0 | 14,505 | |||||
Reclassification of treasury stock under the LCBA | [1],[2] | 0 | (4) | (7) | 54 | (43) | 0 | 0 | ||||
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | (1,142) | (1,142) | |||||
Preferred stock redeemed, Series C | (39,435) | 0 | 0 | 0 | 0 | 0 | (39,435) | |||||
Common stock issued in initial public offering | [1] | 0 | 758 | 11,696 | 0 | (3,110) | 0 | 9,344 | ||||
Cash dividends on common stock | [1] | 0 | 0 | 0 | 0 | (4,247) | 0 | (4,247) | ||||
Preferred stock dividends | 0 | 0 | 0 | 0 | (384) | 0 | (384) | |||||
Balance at Dec. 31, 2015 | 0 | 8,369 | 81,000 | 0 | 29,756 | (901) | 118,224 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Net income | 0 | 0 | 0 | 0 | 14,093 | 0 | 14,093 | |||||
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | (3,098) | (3,098) | |||||
Cash dividends on common stock | [1] | 0 | 0 | 0 | 0 | (4,870) | 0 | (4,870) | ||||
Balance at Dec. 31, 2016 | 0 | 8,369 | 81,000 | 0 | 38,979 | (3,999) | 124,349 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Net income | 0 | 0 | 0 | 0 | 11,751 | 0 | 11,751 | |||||
Common stock issued in acquisition | [1] | 0 | 438 | 11,268 | 0 | (1,056) | 0 | 10,650 | ||||
Other comprehensive income | 0 | 0 | 0 | 0 | 0 | 2,443 | 2,443 | |||||
Cash dividends on common stock | [1] | 0 | 0 | 0 | 0 | (5,210) | 0 | (5,210) | ||||
Balance at Dec. 31, 2017 | $ 0 | $ 8,807 | $ 92,268 | $ 0 | $ 44,464 | $ (1,556) | $ 143,983 | |||||
|
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2015 |
|||
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Abstract] | ||||
Common stock issued in initial public offering (in shares) | 758,027 | |||
Cash dividends per share (in dollars per share) | [1] | $ 0.60 | $ 0.54 | |
Common stock issued in acquisition (in shares) | 437,751 | |||
Common stock, dividend paid date | Dec. 14, 2017 | |||
Common stock, dividend record date | Dec. 08, 2017 | |||
|
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Cash Flows From Operating Activities: | |||
Net income | $ 11,751 | $ 14,093 | $ 14,505 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 3,822 | 3,705 | 3,864 |
Depreciation and amortization | 2,444 | 2,190 | 1,995 |
Amortization/Accretion of investments | 1,788 | 2,239 | 2,036 |
Gain on sale/call of securities | (1,397) | (3,799) | (3,300) |
Other than temporary impairment charge on securities | 0 | 60 | 175 |
Gain on sale of assets | (361) | (76) | (6) |
Repossessed asset write downs, gains and losses on dispositions | 103 | 243 | 411 |
FHLB stock dividends | (23) | (6) | (4) |
Net decrease in loans held for sale | 347 | 0 | 0 |
Change in other assets and liabilities, net | (6,199) | 3,563 | (2,461) |
Net Cash Provided By Operating Activities | 12,275 | 22,212 | 17,215 |
Cash Flows From Investing Activities: | |||
Proceeds from maturities, calls and sales of certificates of deposit | 0 | 1,001 | 9,250 |
Proceeds from maturities and calls of HTM securities | 11,703 | 85,875 | 72,036 |
Proceeds from maturities, calls and sales of AFS securities | 542,894 | 1,000,905 | 723,249 |
Funds invested in HTM securities | (30,530) | (18,563) | (48,318) |
Funds Invested in AFS securities | (517,185) | (1,024,632) | (650,698) |
Proceeds from sale/redemption of Federal Home Loan Bank stock | 0 | 0 | 3,554 |
Funds invested in Federal Home Loan Bank stock | 0 | (875) | (2,864) |
Net increase in loans | (80,816) | (109,467) | (56,000) |
Purchases of premises and equipment | (6,814) | (4,109) | (4,400) |
Proceeds from sales of premises and equipment | 51 | 983 | 4 |
Proceeds from sales of other real estate owned | 608 | 1,098 | 1,394 |
Cash paid in excess of cash received in acquisition | (2,907) | 0 | 0 |
Net Cash (Used In) Provided By Investing Activities | (82,996) | (67,784) | 47,207 |
Cash Flows From Financing Activities: | |||
Net increase (decrease) in deposits | 95,879 | 30,311 | (75,969) |
Net (decrease) increase in federal funds purchased and short-term borrowings | (700) | 4,700 | 0 |
Proceeds from long-term borrowings, net of costs | 3,750 | 0 | 24,969 |
Repayment of long-term borrowings | (3,081) | (3,730) | (600) |
Proceeds from junior subordinated debentures, net of costs | 0 | 0 | 14,597 |
Issuance of common stock, net of costs | 0 | 0 | 9,344 |
Redemption of preferred stock | 0 | 0 | (39,435) |
Dividends paid | (5,210) | (4,870) | (4,631) |
Net Cash Provided By (Used in) Financing Activities | 90,638 | 26,411 | (71,725) |
Net Increase (Decrease In) Cash and Cash Equivalents | 19,917 | (19,161) | (7,303) |
Cash and Cash Equivalents at the Beginning of the Period | 18,111 | 37,272 | 44,575 |
Cash and Cash Equivalents at the End of the Period | 38,028 | 18,111 | 37,272 |
Noncash Activities: | |||
Loans transferred to foreclosed assets | 1,374 | 123 | 1,184 |
Common stock issued in acquisition | 10,650 | 0 | 0 |
Cash Paid During the Period: | |||
Interest on deposits and borrowed funds | 13,836 | 9,916 | 8,898 |
Income taxes | $ 10,700 | $ 3,000 | $ 8,400 |
Business and Summary of Significant Accounting Policies |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Business and Summary of Significant Accounting Policies [Abstract] | |
Business and Summary of Significant Accounting Policies | Note 1. Business and Summary of Significant Accounting Policies Business First Guaranty Bancshares, Inc. ("First Guaranty") is a Louisiana corporation headquartered in Hammond, LA. First Guaranty owns all of the outstanding shares of common stock of First Guaranty Bank. First Guaranty Bank (the "Bank") is a Louisiana state-chartered commercial bank that provides a diversified range of financial services to consumers and businesses in the communities in which it operates. These services include consumer and commercial lending, mortgage loan origination, the issuance of credit cards and retail banking services. The Bank also maintains an investment portfolio comprised of government, government agency, corporate, and municipal securities. The Bank has twenty-seven banking offices, including one drive-up banking facility, and thirty-eight automated teller machines (ATMs) in Southeast Louisiana, Southwest Louisiana, North Louisiana and North Central Texas. Summary of significant accounting policies The accounting and reporting policies of First Guaranty conform to generally accepted accounting principles and to predominant accounting practices within the banking industry. The more significant accounting and reporting policies are as follows: Consolidation The consolidated financial statements include the accounts of First Guaranty Bancshares, Inc., and its wholly owned subsidiary, First Guaranty Bank. All significant intercompany balances and transactions have been eliminated in consolidation. Acquisition Accounting Acquisitions are accounted for under the purchase method of accounting. Purchased assets, including identifiable intangibles, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a gain on acquisition is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. See Acquired Loans section below for accounting policy regarding loans acquired in a business combination. Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and the valuation of investment securities. In connection with the determination of the allowance for loan losses and real estate owned, First Guaranty obtains independent appraisals for significant properties. Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents are defined as cash, due from banks, interest-bearing demand deposits with banks and federal funds sold with maturities of three months or less. Securities First Guaranty reviews its financial position, liquidity and future plans in evaluating the criteria for classifying investment securities. Debt securities that Management has the ability and intent to hold to maturity are classified as held to maturity and carried at cost, adjusted for amortization of premiums and accretion of discounts using methods approximating the interest method. Securities available for sale are stated at fair value. The unrealized difference, if any, between amortized cost and fair value of these AFS securities is excluded from income and is reported, net of deferred taxes, in accumulated other comprehensive income as a part of shareholders' equity. Details of other comprehensive income are reported in the consolidated statements of comprehensive income. Realized gains and losses on securities are computed based on the specific identification method and are reported as a separate component of other income. Amortization of premiums and discounts is included in interest income. Discounts and premiums related to debt securities are amortized using the effective interest rate method. Management evaluates securities for other-than-temporary impairment ("OTTI") at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. In estimating other-than-temporary losses, management considers the length of time and extent that fair value has been less than cost and the financial condition and near term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. Loans held for sale Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Loans held for sale have primarily been fixed rate single-family residential mortgage loans under contract to be sold in the secondary market. In most cases, loans in this category are sold within thirty days. Buyers generally have recourse to return a purchased loan under limited circumstances. Recourse conditions may include early payment default, breach of representations or warranties and documentation deficiencies. Mortgage loans held for sale are generally sold with the mortgage servicing rights released. Gains or losses on sales of mortgage loans are recognized based on the differences between the selling price and the carrying value of the related mortgage loans sold. Loans Loans are stated at the principal amounts outstanding, net of unearned income and deferred loan fees. In addition to loans issued in the normal course of business, overdrafts on customer deposit accounts are considered to be loans and reclassified as such. Interest income on all classifications of loans is calculated using the simple interest method on daily balances of the principal amount outstanding. Accrual of interest is discontinued on a loan when Management believes, after considering economic and business conditions and collection efforts, the borrower's financial condition is such that reasonable doubt exists as to the full and timely collection of principal and interest. This evaluation is made for all loans that are 90 days or more contractually past due. When a loan is placed in nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of interest and principal is probable. Loans are returned to accrual status when, in the judgment of Management, all principal and interest amounts contractually due are reasonably assured to be collected within a reasonable time frame and when the borrower has demonstrated payment performance of cash or cash equivalents; generally for a period of six months. All loans, except mortgage loans, are considered past due if they are past due 30 days. Mortgage loans are considered past due when two consecutive payments have been missed. Loans that are past due 90-120 days and deemed uncollectible are charged-off. The loan charge off is a reduction of the allowance for loan losses. Troubled Debt Restructurings (TDRs) TDRs are loans in which the borrower is experiencing financial difficulty at the time of restructuring, and the Bank has granted a concession to the borrower. TDRs are undertaken in order to improve the likelihood of recovery on the loan and may take the form of modifications made with the stated interest rate lower than the current market rate for new debt with similar risk, other modifications to the structure of the loan that fall outside of normal underwriting policies and procedures, or in limited circumstances forgiveness of principal and / or interest. TDRs can involve loans remaining on non-accrual, moving to non-accrual, or continuing on accrual status, depending on the individual facts and circumstances of the borrower. TDRs are subject to policies governing accrual and non-accrual evaluation consistent with all other loans as discussed in the "Loans" section above. All loans with the TDR designation are considered to be impaired, even if they are accruing. First Guaranty's policy is to evaluate TDRs that have subsequently been restructured and returned to market terms after 12 months of performance. The evaluation includes a review of the loan file and analysis of the credit to assess the loan terms, including interest rate to insure such terms are consistent with market terms. The loan terms are compared to a sampling of loans with similar terms and risk characteristics, including loans originated by First Guaranty and loans lost to a competitor. The sample provides a guide to determine market terms pursuant to ASC 310-40-50-2. The loan is also evaluated at that time for impairment. A loan determined to be restructured to market terms and not considered impaired will no longer be disclosed as a TDR in the years following the restructuring. These loans will continue to be individually evaluated for impairment. A loan determined to either be restructured to below market terms or to be impaired will remain a TDR. Credit Quality First Guaranty's credit quality indicators are pass, special mention, substandard, and doubtful. Loans included in the pass category are performing loans with satisfactory debt coverage ratios, collateral, payment history, and documentation requirements. Special mention loans have potential weaknesses that deserve close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects. Borrowers may be experiencing adverse operating trends (declining revenues or margins) or an ill proportioned balance sheet (e.g., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a special mention rating. Nonfinancial reasons include management problems, pending litigation, an ineffective loan agreement or other material structural weakness, and any other significant deviation from prudent lending practices. A substandard loan is inadequately protected by the paying capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness. They are characterized by the distinct possibility that First Guaranty will sustain some loss if the deficiencies are not corrected. These loans require more intensive supervision. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity, or marginal capitalization. Repayment may depend on collateral or other credit risk mitigates. For some substandard loans, the likelihood of full collection of interest and principal may be in doubt and interest is no longer accrued. Consumer loans that are 90 days or more past due or that are nonaccrual are considered substandard. Doubtful loans have the weaknesses of substandard loans with the additional characteristic that the weaknesses make collection or liquidation in full questionable and there is a high probability of loss based on currently existing facts, conditions and values. A loan is considered impaired when, based on current information and events, it is probable that First Guaranty will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's obtainable market price or the fair value of the collateral if the loan is collateral dependent. This process is only applied to impaired loans or relationships in excess of $500,000. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, individual consumer and residential loans are not separately identified for impairment disclosures, unless such loans are the subject of a restructuring agreement. Loans that have been restructured in a troubled debt restructuring will continue to be evaluated individually for impairment, including those no longer requiring disclosure. Acquired Loans Loans are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. Acquired loans are segregated between those with deteriorated credit quality at acquisition and those deemed as performing. To make this determination, Management considers such factors as past due status, nonaccrual status, credit risk ratings, interest rates and collateral position. The fair value of acquired loans deemed performing is determined by discounting cash flows, both principal and interest, for each pool at prevailing market interest rates as well as consideration of inherent potential losses. The difference between the fair value and principal balances due at acquisition date, the fair value discount, is accreted into income over the estimated life of each loan pool. Loans acquired in a business combination are recorded at their estimated fair value on their purchase date with no carryover of the related allowance for loan losses. Performing acquired loans are subsequently evaluated for any required allowance at each reporting date. An allowance for loan losses is calculated using a similar methodology for originated loans. Loan fees and costs Nonrefundable loan origination and commitment fees and direct costs associated with originating loans are deferred and recognized over the lives of the related loans as an adjustment to the loans' yield using the level yield method. Allowance for loan losses The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when Management believes that the collectability of the principal is unlikely. The allowance, which is based on evaluation of the collectability of loans and prior loan loss experience, is an amount that, in the opinion of Management, reflects the risks inherent in the existing loan portfolio and exists at the reporting date. The evaluations take into consideration a number of subjective factors including changes in the nature and volume of the loan portfolio, historical losses, overall portfolio quality, review of specific problem loans, current economic conditions that may affect a borrower's ability to pay, adequacy of loan collateral and other relevant factors. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require additional recognition of losses based on their judgments about information available to them at the time of their examination. The following are general credit risk factors that affect First Guaranty's loan portfolio segments. These factors do not encompass all risks associated with each loan category. Construction and land development loans have risks associated with interim construction prior to permanent financing and repayment risks due to the future sale of developed property. Farmland and agricultural loans have risks such as weather, government agricultural policies, fuel and fertilizer costs, and market price volatility. 1-4 family, multi-family, and consumer credits are strongly influenced by employment levels, consumer debt loads and the general economy. Non-farm non-residential loans include both owner occupied real estate and non-owner occupied real estate. Common risks associated with these properties is the ability to maintain tenant leases and keep lease income at a level able to service required debt and operating expenses. Commercial and industrial loans generally have non-real estate secured collateral which requires closer monitoring than real estate collateral. Although Management uses available information to recognize losses on loans, because of uncertainties associated with local economic conditions, collateral values and future cash flows on impaired loans, it is reasonably possible that a material change could occur in the allowance for loan losses in the near term. However, the amount of the change that is reasonably possible cannot be estimated. The evaluation of the adequacy of loan collateral is often based upon estimates and appraisals. Because of changing economic conditions, the valuations determined from such estimates and appraisals may also change. Accordingly, First Guaranty may ultimately incur losses that vary from Management's current estimates. Adjustments to the allowance for loan losses will be reported in the period such adjustments become known or can be reasonably estimated. All loan losses are charged to the allowance for loan losses when the loss actually occurs or when the collectability of the principal is unlikely. Recoveries are credited to the allowance at the time of recovery. The allowance consists of specific, general, and unallocated components. The specific component relates to loans that are classified as doubtful, substandard, and impaired. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. Also, a specific reserve is allocated for syndicated loans. The general component covers non-classified loans and special mention loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component is maintained to cover uncertainties that could affect the estimate of probable losses. The allowance for loan losses is reviewed on a monthly basis. The monitoring of credit risk also extends to unfunded credit commitments, such as unused commercial credit lines and letters of credit. A reserve is established as needed for estimates of probable losses on such commitments. Goodwill and intangible assets Goodwill and intangible assets deemed to have indefinite lives are subject to annual impairment tests. First Guaranty's goodwill is tested for impairment on an annual basis, or more often if events or circumstances indicate that there may be impairment. Adverse changes in the economic environment, declining operations, or other factors could result in a decline in the implied fair value of goodwill. If the implied fair value is less than the carrying amount, a loss would be recognized in other non-interest expense to reduce the carrying amount to implied fair value of goodwill. The goodwill impairment test includes two steps that are preceded by a, "step zero", qualitative test. The qualitative test allows Management to assess whether qualitative factors indicate that it is more likely than not that impairment exists. If it is not more likely than not that impairment exists, then no impairment exists and the two step quantitative test would not be necessary. These qualitative indicators include factors such as earnings, share price, market conditions, etc. If the qualitative factors indicate that it is more likely than not that impairment exists, then the two step quantitative test would be necessary. Step one is used to identify potential impairment and compares the estimated fair value of a reporting unit with its carrying amount, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its estimated fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. Step two of the goodwill impairment test compares the implied estimated fair value of reporting unit goodwill with the carrying amount of that goodwill. If the carrying amount of goodwill for that reporting unit exceeds the implied fair value of that unit's goodwill, an impairment loss is recognized in an amount equal to that excess. Identifiable intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or legal rights or because the assets are capable of being sold or exchanged either on their own or in combination with the related contract, asset or liability. First Guaranty's intangible assets primarily relate to core deposits. These core deposit intangibles are amortized on a straight-line basis over terms ranging from seven to fifteen years. Management periodically evaluates whether events or circumstances have occurred that impair this deposit intangible. Premises and equipment Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is computed for financial reporting purposes using the straight-line method over the estimated useful lives of the respective assets as follows: Buildings and improvements 10-40 years Equipment, fixtures and automobiles 3-10 years Expenditures for renewals and betterments are capitalized and depreciated over their estimated useful lives. Repairs, maintenance and minor improvements are charged to operating expense as incurred. Gains or losses on disposition, if any, are recorded as a separate line item in noninterest income on the Statements of Income. Other real estate Other real estate includes properties acquired through foreclosure or acceptance of deeds in lieu of foreclosure. These properties are recorded at the lower of the recorded investment in the property or its fair value less the estimated cost of disposition. Any valuation adjustments required prior to foreclosure are charged to the allowance for loan losses. Subsequent to foreclosure, losses on the periodic revaluation of the property are charged to current period earnings as other real estate expense. Costs of operating and maintaining the properties are charged to other real estate expense as incurred. Any subsequent gains or losses on dispositions are credited or charged to income in the period of disposition. Off-balance sheet financial instruments In the ordinary course of business, First Guaranty has entered into commitments to extend credit, including commitments under credit card arrangements, commitments to fund commercial real estate, construction and land development loans secured by real estate, and performance standby letters of credit. Such financial instruments are recorded when they are funded. Income taxes First Guaranty and its subsidiary file a consolidated federal income tax return on a calendar year basis. In lieu of Louisiana state income tax, the Bank is subject to the Louisiana bank shares tax, which is included in noninterest expense in First Guaranty's consolidated financial statements. With few exceptions, First Guaranty is no longer subject to U.S. federal, state or local income tax examinations for years before 2014. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the deferred tax assets or liabilities are expected to be settled or realized. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be utilized. Comprehensive income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items along with net income, are components of comprehensive income. The components of other comprehensive income and related tax effects are presented in the Statements of Comprehensive Income. Fair Value Measurements The fair value of a financial instrument is the current amount 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. Valuation techniques use certain inputs to arrive at fair value. Inputs to valuation techniques are the assumptions that market participants would use in pricing the asset or liability. They may be observable or unobservable. First Guaranty uses 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. See Note 20 for a detailed description of fair value measurements. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (i) the assets have been isolated from First Guaranty, (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) First Guaranty does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Earnings per common share Earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. In December of 2017, First Guaranty issued a pro rata, 10% common stock dividend. The shares issued for the stock dividend have been retrospectively factored into the calculation of earnings per share as well as cash dividends paid on common stock and represented on the face of the financial statements. No convertible shares of First Guaranty's stock are outstanding. Operating Segments All of First Guaranty's operations are considered by management to be aggregated into one reportable operating segment. While the chief decision-makers monitor the revenue streams of the various products and services, the identifiable segments are not material. Operations are managed and financial performance is evaluated on a Company-wide basis. Reclassifications Certain reclassifications have been made to prior year end financial statements in order to conform to the classification adopted for reporting in 2017. |
Recent Accounting Pronouncements |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 2. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, "Leases: Conforming Amendments Related to Leases". This ASU amends the codification regarding leases in order to increase transparency and comparability. The ASU requires companies to recognize lease assets and liabilities on the balance sheet and disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. The ASU is effective for annual and interim periods beginning after December 15, 2018. The adoption of this ASU is not expected to have a material effect on First Guaranty's Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments". This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. The ASU amendments require the measurement of all expected credit losses for financial assets held at the reporting date be based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU requires assets held at cost basis to reflect the company's current estimate of all expected credit losses. For available for sale debt securities, credit losses should be presented as an allowance rather than as a write-down. In addition, this ASU amends the accounting for purchased financial assets with credit deterioration. This ASU is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment". This ASU amends the guidance on impairment testing. The ASU eliminates Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit should be considered when measuring the goodwill impairment loss, if applicable. The ASU also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In March 2017, the FASB issued ASU 2017-08, "Receivables- Nonrefundable Fees and Other Costs, Premium Amortization on Purchased Callable Debt Securities". This ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, this ASU requires the premium to be amortized to the earliest call date. This ASU does not require an accounting change for securities held at a discount, the discount continues to be amortized to maturity. This ASU is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In February 2018, the FASB issued ASU 2018-02, "Income Statement - Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". This ASU provides an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. This ASU requires disclosure of a description of the accounting policy for releasing income tax effects from AOCI; whether election is made to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and information about the other income tax effects that are reclassified. This ASU is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In March 2018, the FASB issued ASU 2018-05, "Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118". This ASU adds SEC paragraphs pursuant to the SEC Staff Accounting Bulletin No. 118, which expresses the view of the staff regarding application of Topic 740, Income Taxes, in the reporting period that includes December 22, 2017 - the date on which the Tax Cuts and Jobs Act (H.R.1, An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018) was signed into law. This ASU is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. |
Merger Transaction |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Merger Transaction [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Merger Transaction | Note 3. Merger Transaction Effective at the close of business on June 16, 2017, First Guaranty completed its acquisition of 100% of the outstanding shares of Premier Bancshares, Inc., a Texas corporation ("Premier"), a single bank holding company headquartered in McKinney, Texas and its wholly owned subsidiary, Synergy Bank. This acquisition allows First Guaranty to expand its presence into the North Central Texas market area. Under terms of an agreement and plan of merger dated January 30, 2017, First Guaranty issued 0.119 of a share of its common stock for each share of Premier for a total of 397,988 shares at a price of $25.86 (unadjusted for the 10% stock dividend in December 2017) and paid $10.3 million in cash for an acquisition value of approximately $21.0 million. Based on the initial preliminary valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, the purchase price resulted in approximately $1.5 million in goodwill and $2.7 million in core deposit intangible, none of which is deductible for tax purposes. The valuations of loans, premises and equipment and core deposit intangible and other assets acquired and liabilities assumed are still preliminary and subject to change. United States generally accepted accounting principles ("U.S. GAAP") provides up to twelve months following the date of acquisition in which management can finalize the fair values of acquired assets and assumed liabilities. Material events that occur during the measurement period will be analyzed to determine if the new information reflected facts and circumstances that existed on the acquisition date. The measurement period ends as soon as First Guaranty receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns more information is unobtainable. The measurement period is limited to one year from the acquisition date. Once management has finalized the fair values of acquired assets and assumed liabilities within this twelve month period, management considers such values to be the "Day One Fair Values." Based on management's preliminary valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, the purchase price for the Premier acquisition is allocated in the table below.
The fair value of net assets acquired includes fair value adjustments to certain receivables that were not considered impaired as of the acquisition date. The non-impaired loans excluded from the purchase credit impairment requirements under ASC 310-30 were recorded at an estimated fair value of $123.7 million and had gross contractual amounts receivable of $122.9 million on the date of acquisition. Contractual cash flows not expected to be collected are estimated at $0.5 million. The following pro forma information for the twelve months ended December 31, 2017 and December 31, 2016 reflects First Guaranty's estimated consolidated results of operations as if the acquisition of Premier occurred at January 1, 2016, unadjusted for potential cost savings.
|
Cash and Due from Banks |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Cash and Due from Banks [Abstract] | |
Cash and Due from Banks | Note 4. Cash and Due from Banks Certain reserves are required to be maintained at the Federal Reserve Bank. There was no reserve requirement as of December 31, 2017 and 2016. At December 31, 2017 First Guaranty had only one account at correspondent banks, excluding the Federal Reserve Bank, that exceeded the FDIC insurable limit of $250,000. This account was over the insurable limit by $0.6 million. At December 31, 2016 First Guaranty had only one account at correspondent banks, excluding the Federal Reserve Bank, that exceeded the FDIC insurable limit of $250,000. This account was over the insurable limit by $4,000. |
Securities |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities | Note 5. Securities A summary comparison of securities by type at December 31, 2017 and 2016 is shown below.
The scheduled maturities of securities at December 31, 2017, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to call or prepayments. Mortgage-backed securities are not due at a single maturity because of amortization and potential prepayment of the underlying mortgages. For this reason they are presented separately in the maturity table below.
The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses as of the dates indicated:
As of December 31, 2017, 322 of First Guaranty's debt securities had unrealized losses totaling 1.7% of the individual securities' amortized cost basis and 1.4% of First Guaranty's total amortized cost basis of the investment securities portfolio. 145 of the 322 securities had been in a continuous loss position for over 12 months at such date. The 145 securities had an aggregate amortized cost basis of $225.2 million and an unrealized loss of $5.6 million at December 31, 2017. Management has the intent and ability to hold these debt securities until maturity or until anticipated recovery. Securities are evaluated for other-than-temporary impairment at least quarterly and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, (iii) the recovery of contractual principal and interest and (iv) the intent and ability of First Guaranty to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Investment securities issued by the U.S. Government and Government sponsored enterprises with unrealized losses and the amount of unrealized losses on those investment securities that are the result of changes in market interest rates will not be other-than-temporarily impaired. First Guaranty has the ability and intent to hold these securities until recovery, which may not be until maturity. Corporate debt securities in a loss position consist primarily of corporate bonds issued by businesses in the financial, insurance, utility, manufacturing, industrial, consumer products and oil and gas industries. Two issuers have other-than-temporary impairment losses at December 31, 2017. First Guaranty believes that the remaining issuers will be able to fulfill the obligations of these securities based on evaluations described above. First Guaranty has the ability and intent to hold these securities until they recover, which could be at their maturity dates. During the years ended December 31, 2017,2016, and 2015, First Guaranty recorded OTTI losses on available for sale securities as follows:
There were $0, $0.1 million, and $0.2 million other-than-temporary impairment losses recognized on securities in 2017, 2016 and 2015, respectively. The following table presents a roll-forward of the amount of credit losses on debt securities held by First Guaranty for which a portion of OTTI was recognized in other comprehensive income for the year ended December 31, 2017, 2016, and 2015:
In 2017 there were no other-than-temporary impairment credit losses on securities for which First Guaranty had previously recognized OTTI. For securities that have indications of credit related impairment, management analyzes future expected cash flows to determine if any credit related impairment is evident. Estimated cash flows are determined using management's best estimate of future cash flows based on specific assumptions. The assumptions used to determine the cash flows were based on estimates of loss severity and credit default probabilities. Management reviews reports from credit rating agencies and public filings of issuers. In 2016 there were no other-than-temporary impairment credit losses on securities for which First Guaranty had previously recognized OTTI. The amount related to losses on securities with no previous losses amounted to $0.1 million at December 31, 2016. For securities that have indications of credit related impairment, management analyzes future expected cash flows to determine if any credit related impairment is evident. Estimated cash flows are determined using management's best estimate of future cash flows based on specific assumptions. The assumptions used to determine the cash flows were based on estimates of loss severity and credit default probabilities. Management reviews reports from credit rating agencies and public filings of issuers. The credit related impairment was related to one corporate debt security with a book balance of $0.1 million that experienced declines in its financial performance associated with the utilities industry. This corporate debt security had a non-credit related impairment of approximately $6,000. In 2015 there were no other-than-temporary impairment credit losses on securities for which First Guaranty had previously recognized OTTI. The amount related to losses on securities with no previous losses amounted to $0.2 million at December 31, 2015. The credit related impairment was related to one corporate debt security with a book balance of $0.5 million that experienced declines in its financial performance associated with the mining industry. This corporate debt security had a non-credit related impairment of $0.3 million. This security was sold in 2016. A second corporate debt security had a non-credit related impairment of $0.1 million due to the fact that the issuer went private and liquidity in its debt securities was reduced. Management anticipates receipt of all scheduled cash flows for this security. Non-credit related other-than-temporary impairment losses recognized in other comprehensive income totaled zero in 2017, $6,000 in 2016, and $0.4 million in 2015. The impairment losses in 2016 were related to one available for sale corporate bond security, described above, which had original amortized cost of $0.1 million. The impairment losses in 2015 were related to two available for sale corporate bond securities, described above, which had original amortized cost of $0.8 million. At December 31, 2017 and 2016 the carrying value of pledged securities totaled $412.2 million and $368.2 million, respectively. First Guaranty completed its liquidation of the common stock from a converted preferred security in the third quarter of 2015. The total gains realized on the security were $2.7 million. Gross realized gains on sales of securities were $1.4 million, $3.6 million and $3.3 million (including the sale of the converted preferred security) for the years ended December 31, 2017, 2016 and 2015, respectively. Gross realized losses were $0.1 million, $53,000 and $0.4 million for the years ended December 31, 2017, 2016 and 2015. The tax applicable to these transactions amounted to $0.5 million, $1.3 million, and $1.2 million for 2017, 2016 and 2015, respectively. Proceeds from sales of securities classified as available for sale amounted to $148.0 million, $191.0 million and $290.0 million for the years ended December 31, 2017, 2016 and 2015, respectively. Net unrealized losses on available for sale securities included in accumulated other comprehensive income (loss) ("AOCI"), net of applicable income taxes, totaled $1.6 million at December 31, 2017. At December 31, 2016 net unrealized losses included in AOCI, net of applicable income taxes, totaled $4.0 million. During 2017 and 2016 net gains, net of tax, reclassified out of AOCI into earnings totaled $0.9 million and $2.5 million, respectively. At December 31, 2017, First Guaranty's exposure to investment securities issuers that exceeded 10% of shareholders' equity as follows:
|
Loans |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Note 6. Loans The following table summarizes the components of First Guaranty's loan portfolio as of the dates indicated:
The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of December 31, 2017 and December 31, 2016 unadjusted for scheduled principal payments, prepayments, or repricing opportunities. The average life of the loan portfolio may be substantially less than the contractual terms when these adjustments are considered.
As of December 31, 2017, $95.4 million of floating rate loans were at their interest rate floor. At December 31, 2016, $127.7 million of floating rate loans were at the floor rate. Nonaccrual loans have been excluded from these totals. The following tables present the age analysis of past due loans for the periods indicated:
The tables above include $12.6 million and $21.7 million of nonaccrual loans for December 31, 2017 and 2016, respectively. See the tables below for more detail on nonaccrual loans. The following is a summary of nonaccrual loans by class for the periods indicated:
The following table identifies the credit exposure of the loan portfolio by specific credit ratings for the periods indicated:
Purchased Impaired Loans As part of the acquisition of Premier Bancshares, Inc. on June 16, 2017, First Guaranty purchased credit impaired loans for which there was, at acquisition, evidence of deterioration of credit quality since their origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans is as follows at December 31, 2017.
For those purchased loans disclosed above, First Guaranty did not increase the allowance for loan losses for the year ended December 31, 2017. Where First Guaranty can reasonably estimate the cash flows expected to be collected on the loans, a portion of the purchase discount is allocated to an accretable yield adjustment based upon the present value of the future estimated cash flows versus the current carrying value of the loan and the accretable yield portion is being recognized as interest income over the remaining life of the loan. Where First Guaranty cannot reasonably estimate the cash flows expected to be collected on the loans, it has decided to account for those loans using the cost recovery method of income recognition. As such, no portion of a purchase discount adjustment has been determined to meet the definition of an accretable yield adjustment on those loans accounted for using the cost recovery method. If, in the future, cash flows from the borrower(s) can be reasonably estimated, a portion of the purchase discount would be allocated to an accretable yield adjustment based upon the present value of the future estimated cash flows versus the current carrying value of the loan and the accretable yield portion would be recognized as interest income over the remaining life of the loan. Until such accretable yield can be calculated, under the cost recovery method of income recognition, all payments will be used to reduce the carrying value of the loan and no income will be recognized on the loan until the carrying value is reduced to zero. Any loan accounted for under the cost recovery method is also still included as a non-accrual loan in the amounts presented in the table below. The accretable yield, or income expected to be collected, on the purchased loans above is as follows at December 31, 2017.
The contractually required payments of purchased impaired loans totaled $7.5 million, while the cash flow expected to be collected at acquisition totaled $5.0 million, and the fair value of the acquired loans totaled $3.8 million. |
Allowance for Loan Losses |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | Note 7. Allowance for Loan Losses A summary of changes in the allowance for loan losses, by loan type, for the years ended December 31, 2017, 2016 and 2015 are as follows:
Negative provisions are caused by changes in the composition and credit quality of the loan portfolio. The result is an allocation of the loan loss reserve from one category to another. A summary of the allowance and loans individually and collectively evaluated for impairment are as follows:
As of December 31, 2017, 2016 and 2015, First Guaranty had loans totaling $12.6 million, $21.7 million and $20.0 million, respectively, not accruing interest. As of December 31, 2017, 2016 and 2015, First Guaranty had loans past due 90 days or more and still accruing interest totaling $0.8 million, $0.2 million and $0.4 million, respectively. The average outstanding balance of nonaccrual loans in 2017 was $17.3 million compared to $22.5 million in 2016 and $14.9 million in 2015. As of December 31, 2017, First Guaranty has no outstanding commitments to advance additional funds in connection with impaired loans. The following is a summary of impaired loans by class at December 31, 2017:
The following is a summary of impaired loans by class at December 31, 2016:
Troubled Debt Restructurings A Troubled Debt Restructuring ("TDR") is a debt restructuring in which the creditor for economic or legal reasons related to the debtor's financial difficulties grants a concession to the debtor that it would not otherwise consider. The modifications to First Guaranty's TDRs were concessions on the interest rate charged. The effect of the modifications to First Guaranty was a reduction in interest income. These loans were evaluated in First Guaranty's reserve for loan losses. In 2017 and 2016, there were no credit relationships that were restructured in a troubled debt restructuring. The following table is an age analysis of TDRs as of December 31, 2017 and December 31, 2016:
The following table discloses TDR activity for the twelve months ended December 31, 2017.
There were no commitments to lend additional funds to debtors whose terms have been modified in a troubled debt restructuring at December 31, 2017. |
Premises and Equipment |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premises and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premises and Equipment | Note 8. Premises and Equipment The components of premises and equipment at December 31, 2017 and 2016 are as follows:
Depreciation expense amounted to $1.8 million, $1.7 million and $1.6 million for 2017, 2016 and 2015, respectively. |
Goodwill and Other Intangible Assets |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | Note 9. Goodwill and Other Intangible Assets Goodwill and intangible assets deemed to have indefinite lives are no longer amortized, but are subject to impairment testing. Other intangible assets continue to be amortized over their useful lives. Goodwill represents the purchase price over the fair value of net assets acquired from the Homestead Bancorp in 2007 and Premier Bancshares, Inc. in 2017. No impairment charges have been recognized since acquisition. Goodwill totaled $3.5 million and $2.0 million at December 31, 2017 and 2016, respectively. The following table summarizes intangible assets subject to amortization.
The core deposits intangible reflect the value of deposit relationships, including the beneficial rates, which arose from acquisitions. The weighted-average amortization period remaining for the core deposit intangibles is 9.7 years. Amortization expense relating to purchase accounting intangibles totaled $0.4 million, $0.3 million, and $0.3 million for the years ended December 31, 2017, 2016, and 2015, respectively. Amortization expense of the core deposit intangible assets for the next five years is as follows:
|
Other Real Estate |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Real Estate [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Real Estate | Note 10. Other Real Estate Other real estate owned consists of the following:
|
Deposits |
12 Months Ended | |||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||
Deposits [Abstract] | ||||||||||||||||||||||||||||||||||||
Deposits | Note 11. Deposits A schedule of maturities of all time deposits are as follows:
The table above includes, for December 31, 2017, brokered deposits totaling $9.8 million. The aggregate amount of jumbo time deposits, each with a minimum denomination of $250,000 totaled $266.2 million and $241.4 million at December 31, 2017 and 2016, respectively. |
Borrowings |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | Note 12. Borrowings Short-term borrowings are summarized as follows:
First Guaranty maintains borrowing relationships with other financial institutions as well as the Federal Home Loan Bank on a short and long-term basis to meet liquidity needs. Short-term borrowings totaled $15.5 million at December 31, 2017 and $6.5 million at December 31, 2016. Short-term borrowing consisted of a line of credit of $6.5 million, with no outstanding balance at December 31, 2017 and collateralized short-term borrowings from the Federal Home Loan Bank totaling $15.5 million at December 31, 2017. Available lines of credit totaled $150.8 million at December 31, 2017 and $133.7 million at December 31, 2016. The following schedule provides certain information about First Guaranty's short-term borrowings for the periods indicated:
Long-term debt is summarized as follows: Senior long-term debt with a commercial bank, priced at floating 3-month LIBOR plus 250 basis points (3.87%), totaled $22.8 million at December 31, 2017 and $21.8 at December 31, 2016. First Guaranty pays $735,294 principal plus interest quarterly. This loan was originated in December 2015 and has a contractual maturity date of December 22, 2020. This long-term debt is secured by a pledge of 85% (4,823,899 shares) of First Guaranty's interest in First Guaranty Bank (a wholly owned subsidiary). First Guaranty modified its existing senior long-term debt in the second quarter of 2017. The modification increased the principal balance to $25.0 million with new net proceeds of $3.8 million. The existing amortization terms and rates remained the same. The $3.8 million in additional proceeds were contributed to First Guaranty Bank for future growth. Senior long-term debt with a commercial bank, priced at Wall Street Journal Prime plus 75 basis points (4.75%), had no outstanding balance at December 31, 2017 and totaled $0.3 million at December 31, 2016. First Guaranty paid $50,000 principal plus interest monthly. This long-term debt was secured by a pledge of 13.2% (735,745 shares) of First Guaranty's interest in First Guaranty Bank (a wholly owned subsidiary). This loan matured on May 12, 2017. Junior subordinated debt, priced at Wall Street Journal Prime plus 75 basis points (4.00%), totaled $14.7 million at December 31, 2017 and $14.6 million at December 31, 2016. First Guaranty pays interest semi-annually for the Fixed Interest Rate Period and quarterly for the Floating Interest Rate Period. The Note is unsecured and ranks junior in right of payment to any senior indebtedness and obligations to general and secured creditors. The Note was originated in December 2015 and is scheduled to mature on December 21, 2025. Subject to limited exceptions, First Guaranty cannot repay the Note until after December 21, 2020. The Note qualifies for treatment as Tier 2 capital for regulatory capital purposes. First Guaranty maintains a revolving line of credit for $6.5 million with an availability of $6.5 million at December 31, 2017. This line of credit is secured by the same collateral as the senior term loan and is priced at 4.50%. At December 31, 2017, letters of credit issued by the FHLB totaling $294.2 million were outstanding and carried as off-balance sheet items, all of which expire in 2018. At December 31, 2016, letters of credit issued by the FHLB totaling $226.1 million were outstanding and carried as off-balance sheet items, all of which expired in 2017. The letters of credit are solely used for pledging towards public fund deposits. The FHLB has a blanket lien on substantially all of the loans in First Guaranty's portfolio which is used to secure borrowing availability from the FHLB. First Guaranty has obtained a subordination agreement from the FHLB on First Guaranty's farmland, agricultural, and commercial and industrial loans. These loans are available to be pledged for additional reserve liquidity. As of December 31, 2017 obligations on senior long-term debt and junior subordinated debentures totaled $37.4 million. The scheduled maturities are as follows:
|
Capital Requirements |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Requirements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Requirements | Note 13. Capital Requirements First Guaranty and the Bank are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions that, if undertaken, could have a direct material effect on First Guaranty's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, First Guaranty and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Quantitative measures established by regulation to ensure capital adequacy require First Guaranty and the Bank to maintain minimum amounts and ratios of total and Tier 1 capital to risk-weighted assets and of Tier 1 capital to average assets. Management believes, as of December 31, 2017 and 2016, that First Guaranty and the Bank met all capital adequacy requirements. In addition to establishing the minimum regulatory capital requirements, the regulations limit capital distributions and certain discretionary bonus payments to management if the institution does not hold a "capital conservation buffer" consisting of 2.5% of common equity Tier 1 capital to risk-weighted asset above the amount necessary to meet its minimum risk-based capital requirements. The capital conservation buffer requirement is being phased in beginning January 1, 2016 at 0.625% of risk-weighted assets and increasing each year until fully implemented at 2.5% on January 1, 2019. For 2018, the capital conservation buffer will be 1.875% of risk-weighted assets. First Guaranty Bancshares, Inc. capital conservation buffer was 4.14% at December 31, 2017. First Guaranty Bank's capital conservation buffer was 5.07% at December 31, 2017. As of December 31, 2017, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the notification that Management believes have changed the Bank's category. First Guaranty's and the Bank's actual capital amounts and ratios as of December 31, 2017 and 2016 are presented in the following table.
|
Dividend Restrictions |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Dividend Restrictions [Abstract] | |
Dividend Restrictions | Note 14. Dividend Restrictions The Federal Reserve Bank ("FRB") has stated that, generally, a bank holding company should not maintain a rate of distributions to shareholders unless its available net income has been sufficient to fully fund the distributions, and the prospective rate of earnings retention appears consistent with the bank holding company's capital needs, asset quality and overall financial condition. As a Louisiana corporation, First Guaranty is restricted under the Louisiana corporate law from paying dividends under certain conditions. First Guaranty Bank may not pay dividends or distribute capital assets if it is in default on any assessment due to the FDIC. First Guaranty Bank is also subject to regulations that impose minimum regulatory capital and minimum state law earnings requirements that affect the amount of cash available for distribution. In addition, under the Louisiana Banking Law, dividends may not be paid if it would reduce the unimpaired surplus below 50% of outstanding capital stock in any year. The Bank is restricted under applicable laws in the payment of dividends to an amount equal to current year earnings plus undistributed earnings for the immediately preceding year, unless prior permission is received from the Commissioner of Financial Institutions for the State of Louisiana. Dividends payable by the Bank in 2018 without permission will be limited to 2018 earnings plus the undistributed earnings of $3.2 million from 2017. Accordingly, at January 1, 2018, $167.6 million of First Guaranty's equity in the net assets of the Bank was restricted. In addition, dividends paid by the Bank to First Guaranty would be prohibited if the effect thereof would cause the Bank's capital to be reduced below applicable minimum capital requirements. |
Related Party Transactions |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions | Note 15. Related Party Transactions In the normal course of business, First Guaranty and its subsidiary, First Guaranty Bank, have loans, deposits and other transactions with its executive officers, directors and certain business organizations and individuals with which such persons are associated. These transactions are completed with terms no less favorable than current market rates. An analysis of the activity of loans made to such borrowers during the year ended December 31, 2017 and 2016 follows:
Unfunded commitments to First Guaranty and Bank directors and executive officers totaled $17.5 million and $24.9 million at December 31, 2017 and 2016, respectively. At December 31, 2017 First Guaranty and the Bank had deposits from directors and executives totaling $24.6 million. There were no participations in loans purchased from affiliated financial institutions included in First Guaranty's loan portfolio in 2017 or 2016. During the years ended 2017, 2016 and 2015, First Guaranty paid approximately $0.4 million, $0.3 million and $0.2 million, respectively, for printing services and supplies and office furniture and equipment to Champion Industries, Inc., of which Mr. Marshall T. Reynolds, the Chairman of First Guaranty's Board of Directors, is President, Chief Executive Officer, Chairman of the Board of Directors and a major shareholder of Champion. On December 21, 2015, First Guaranty issued a $15.0 million subordinated note (the "Note") to Edgar Ray Smith III, a director of First Guaranty. The Note is for a ten-year term (non-callable for first five years) and will bear interest at a fixed annual rate of 4.0% for the first five years of the term and then adjust to a floating rate based on the Prime Rate as reported by the Wall Street Journal plus 75 basis points for the period of time after the fifth year until redemption or maturity. First Guaranty paid interest of $0.6 million in 2017 and 2016 for this note. During the years ended 2017, 2016 and 2015, First Guaranty paid approximately $0.2 million, $0.3 million and $0.2 million, respectively, for architectural services in relation to bank branches to Gasaway Gasaway Bankston Architects, of which bank subsidiary board member Andrew B. Gasaway is part owner. |
Employee Benefit Plans |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | Note 16. Employee Benefit Plans First Guaranty has an employee savings plan to which employees, who meet certain service requirements, may defer 1% to 20% of their base salaries, 6% of which may be matched up to 100%, at its sole discretion. Contributions to the savings plan were $240,000, $191,000 and $86,000 in 2017, 2016 and 2015, respectively. First Guaranty has an Employee Stock Ownership Plan ("ESOP") which was frozen in 2010. No contributions were made to the ESOP for the years 2017, 2016 or 2015. As of December 31, 2017, the ESOP held 15,530 shares. First Guaranty is in the process of terminating the plan. |
Other Expenses |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Expenses | Note 17. Other Expenses The following is a summary of the significant components of other noninterest expense:
First Guaranty does not capitalize advertising costs. They are expensed as incurred and are included in other noninterest expense on the Consolidated Statements of Income. Advertising expense was $0.7 million, $0.6 million and $0.6 million for 2017, 2016 and 2015, respectively. |
Income Taxes |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Note 18. Income Taxes On December 22, 2017, the Tax Cuts and Jobs Act ("TCJA") was signed into law. The TCJA makes broad and complex changes to the U.S. tax code that affected income tax expense in 2017. The TCJA reduces the U.S. federal corporate income tax rate from 35% to 21% beginning January 1, 2018 and also establishes new tax laws that will affect 2018. ASC 740 requires a company to record the effects of a tax law change in the period of enactment, however, shortly after the enactment of the TCJA, the SEC staff issued SAB 118, which allows a company to record a provisional amount when it does not have the necessary information available, prepared, or analyzed in reasonable detail to complete its accounting for the change in the tax law. The measurement period ends when the company has obtained, prepared and analyzed the information necessary to finalize its accounting, but cannot extend beyond one year. The following is a summary of the provision for income taxes included in the Consolidated Statements of Income:
The difference between income taxes computed by applying the statutory federal income tax rate and the provision for income taxes in the financial statements is reconciled as follows:
(1) Included in other for the year ended December 31, 2017 is $0.9 million related to the estimated net impact from the remeasurement of deferred tax assets and liabilities as a result of the passage of the Tax Cuts and Jobs Act in December 2017. Deferred taxes are recorded based upon differences between the financial statement and tax basis of assets and liabilities, and available tax credit carry forwards. Temporary differences between the financial statement and tax values of assets and liabilities give rise to deferred taxes. The significant components of deferred taxes classified in First Guaranty's Consolidated Balance Sheets at December 31, 2017 and 2016 are as follows:
Net operating loss carryforwards for income tax purposes were $7.0 million as of December 31, 2017 as compared to zero in 2016. The carryforwards were acquired in 2017 in the Premier acquisition and expire from 2027 to 2034, and will be utilized subject to annual Internal Revenue Code Section 382 limitations. ASC 740-10, Income Taxes, clarifies the accounting for uncertainty in income taxes and prescribes a recognition threshold and measurement attribute for the consolidated financial statements recognition and measurement of a tax position taken or expected to be taken in a tax return. First Guaranty does not believe it has any unrecognized tax benefits included in its consolidated financial statements. First Guaranty has not had any settlements in the current period with taxing authorities, nor has it recognized tax benefits as a result of a lapse of the applicable statute of limitations. First Guaranty recognizes interest and penalties accrued related to unrecognized tax benefits, if applicable, in noninterest expense. During the years ended December 31, 2017, 2016 and 2015, First Guaranty did not recognize any interest or penalties in its consolidated financial statements, nor has it recorded an accrued liability for interest or penalty payments. |
Commitments and Contingencies |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies | Note 19. Commitments and Contingencies Off-balance sheet commitments First Guaranty is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit and standby and commercial letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheets. The contract or notional amounts of those instruments reflect the extent of the involvement in particular classes of financial instruments. The exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby and commercial letters of credit is represented by the contractual notional amount of those instruments. Unless otherwise noted, collateral or other security is not required to support financial instruments with credit risk. Set forth below is a summary of the notional amounts of the financial instruments with off-balance sheet risk at December 31, 2017 and December 31, 2016.
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. Since commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each customer's creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on Management's credit evaluation of the counterpart. Collateral requirements vary but may include accounts receivable, inventory, property, plant and equipment, residential real estate and commercial properties. Standby and commercial letters of credit are conditional commitments to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. The majority of these guarantees are short-term, one year or less; however, some guarantees extend for up to three years. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities. Collateral requirements are the same as on-balance sheet instruments and commitments to extend credit. There were no losses incurred on off-balance sheet commitments in 2017, 2016 or 2015. |
Fair Value Measurements |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | Note 20. Fair Value Measurements The fair value of a financial instrument is the current amount 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. Valuation techniques use certain inputs to arrive at fair value. Inputs to valuation techniques are the assumptions that market participants would use in pricing the asset or liability. They may be observable or unobservable. First Guaranty uses 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 Inputs – Unadjusted quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds or credit risks) or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs – Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity's own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. A description of the valuation methodologies used for instruments measured at fair value follows, as well as the classification of such instruments within the valuation hierarchy. Securities available for sale. Securities are classified within Level 1 where quoted market prices are available in an active market. Inputs include securities that have quoted prices in active markets for identical assets. If quoted market prices are unavailable, fair value is estimated using quoted prices of securities with similar characteristics, at which point the securities would be classified within Level 2 of the hierarchy. Securities classified Level 3 as of December 31, 2017 include certain municipal bonds and an equity security. Impaired loans. Loans are measured for impairment using the methods permitted by ASC Topic 310. Fair value of impaired loans is measured by either the fair value of the collateral if the loan is collateral dependent (Level 2 or Level 3), or the present value of expected future cash flows, discounted at the loan's effective interest rate (Level 3). Fair value of the collateral is determined by appraisals or by independent valuation. Other real estate owned. Properties are recorded at the balance of the loan or at estimated fair value less estimated selling costs, whichever is less, at the date acquired. Fair values of other real estate owned ("OREO") at December 31, 2017 and 2016 are determined by sales agreement or appraisal, and costs to sell are based on estimation per the terms and conditions of the sales agreement or amounts commonly used in real estate transactions. Inputs include appraisal values or recent sales activity for similar assets in the property's market; thus OREO measured at fair value would be classified within either Level 2 or Level 3 of the hierarchy. Certain non-financial assets and non-financial liabilities are measured at fair value on a non-recurring basis including assets and liabilities related to reporting units measured at fair value in the testing of goodwill impairment, as well as intangible assets and other non-financial long-lived assets measured at fair value for impairment assessment. The following table summarizes financial assets measured at fair value on a recurring basis as of December 31, 2017 and 2016, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:
First Guaranty's valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While Management believes the methodologies used 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. The change in Level 1 securities available for sale from December 31, 2016 was due principally to a net decrease in Treasury bills of $10.5 million. The change in Level 2 and Level 3 securities available for sale from December 31, 2016 was due principally due to the transfer of municipal securities from Level 3 to Level 2. The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3):
There were no gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held as of December 31, 2017. The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of December 31, 2017, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:
ASC 825-10 provides First Guaranty with an option to report selected financial assets and liabilities at fair value. The fair value option established by this statement permits First Guaranty to choose to measure eligible items at fair value at specified election dates and report unrealized gains and losses on items for which the fair value option has been elected in earnings at each reporting date subsequent to implementation. First Guaranty has chosen not to elect the fair value option for any items that are not already required to be measured at fair value in accordance with accounting principles generally accepted in the United States. |
Financial Instruments |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments | Note 21. Financial Instruments Fair value estimates are generally subjective in nature and are dependent upon a number of significant assumptions associated with each instrument or group of similar instruments, including estimates of discount rates, risks associated with specific financial instruments, estimates of future cash flows and relevant available market information. Fair value information is intended to represent an estimate of an amount at which a financial instrument could be exchanged in a current transaction between a willing buyer and seller engaging in an exchange transaction. However, since there are no established trading markets for a significant portion of First Guaranty's financial instruments, First Guaranty may not be able to immediately settle financial instruments; as such, the fair values are not necessarily indicative of the amounts that could be realized through immediate settlement. In addition, the majority of the financial instruments, such as loans and deposits, are held to maturity and are realized or paid according to the contractual agreement with the customer. Quoted market prices are used to estimate fair values when available. However, due to the nature of the financial instruments, in many instances quoted market prices are not available. Accordingly, estimated fair values have been estimated based on other valuation techniques, such as discounting estimated future cash flows using a rate commensurate with the risks involved or other acceptable methods. Fair values are estimated without regard to any premium or discount that may result from concentrations of ownership of financial instruments, possible income tax ramifications or estimated transaction costs. The fair value estimates are subjective in nature and involve matters of significant judgment and, therefore, cannot be determined with precision. Fair values are also estimated at a specific point in time and are based on interest rates and other assumptions at that date. As events change the assumptions underlying these estimates, the fair values of financial instruments will change. Disclosure of fair values is not required for certain items such as lease financing, investments accounted for under the equity method of accounting, obligations of pension and other postretirement benefits, premises and equipment, other real estate, prepaid expenses, the value of long-term relationships with depositors (core deposit intangibles) and other customer relationships, other intangible assets and income tax assets and liabilities. Fair value estimates are presented for existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the realization of the unrealized gains and losses have not been considered in the estimates. Accordingly, the aggregate fair value amounts presented do not purport to represent and should not be considered representative of the underlying market or franchise value of First Guaranty. Because the standard permits many alternative calculation techniques and because numerous assumptions have been used to estimate the fair values, reasonable comparison of the fair value information with other financial institutions' fair value information cannot necessarily be made. The methods and assumptions used to estimate the fair values of financial instruments are as follows: Cash and due from banks, interest-bearing deposits with banks, federal funds sold and federal funds purchased. These items are generally short-term and the carrying amounts reported in the consolidated balance sheets are a reasonable estimation of the fair values. Investment Securities. Fair values are principally based on quoted market prices. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments or the use of discounted cash flow analyses. Loans Held for Sale. Fair values of mortgage loans held for sale are based on commitments on hand from investors or prevailing market prices. These loans are classified within level 3 of the fair value hierarchy. Loans, net. Market values are computed present values using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. These loans are classified within level 3 of the fair value hierarchy. Impaired loans Fair value of impaired loans is measured by either the fair value of the collateral if the loan is collateral dependent (Level 2 or Level 3), or the present value of expected future cash flows, discounted at the loan's effective interest rate (Level 3). Fair value of the collateral is determined by appraisals or by independent valuation. Accrued interest receivable. The carrying amount of accrued interest receivable approximates its fair value. Deposits. Market values are actually computed present values using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. Deposits are classified within level 3 of the fair value hierarchy. Accrued interest payable. The carrying amount of accrued interest payable approximates its fair value. Borrowings. The carrying amount of federal funds purchased and other short-term borrowings approximate their fair values. The fair value of First Guaranty's long-term borrowings is computed using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. Borrowings are classified within level 3 of the fair value hierarchy. Other Unrecognized Financial Instruments. The fair value of commitments to extend credit is estimated using the fees charged to enter into similar legally binding agreements, taking into account the remaining terms of the agreements and customers' credit ratings. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. Noninterest-bearing deposits are held at cost. The fair values of letters of credit are based on fees charged for similar agreements or on estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. At December 31, 2017 and 2016 the fair value of guarantees under commercial and standby letters of credit was not material. The estimated fair values and carrying values of the financial instruments at December 31, 2017 and 2016 are presented in the following table:
There is no material difference between the contract amount and the estimated fair value of off-balance sheet items that are primarily comprised of short-term unfunded loan commitments that are generally at market prices. |
Concentrations of Credit and Other Risks |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Concentrations of Credit and Other Risks [Abstract] | |
Concentrations of Credit and Other Risks | Note 22. Concentrations of Credit and Other Risks First Guaranty monitors loan portfolio concentrations by region, collateral type, loan type, and industry on a monthly basis and has established maximum thresholds as a percentage of its capital to ensure that the desired mix and diversification of its loan portfolio is achieved. First Guaranty is compliant with the established thresholds as of December 31, 2017. Personal, commercial and residential loans are granted to customers, most of who reside in northern and southern areas of Louisiana. Although First Guaranty has a diversified loan portfolio, significant portions of the loans are collateralized by real estate located in Tangipahoa Parish and surrounding parishes in Southeast Louisiana. Declines in the Louisiana economy could result in lower real estate values which could, under certain circumstances, result in losses to First Guaranty. The distribution of commitments to extend credit approximates the distribution of loans outstanding. Commercial and standby letters of credit were granted primarily to commercial borrowers. Generally, credit is not extended in excess of $10.0 million to any single borrower or group of related borrowers. Approximately 41.4% of First Guaranty's deposits are derived from local governmental agencies at December 31, 2017. These governmental depositing authorities are generally long-term customers. A number of the depositing authorities are under contractual obligation to maintain their operating funds exclusively with First Guaranty. In most cases, First Guaranty is required to pledge securities or letters of credit issued by the Federal Home Loan Bank to the depositing authorities to collateralize their deposits. Under certain circumstances, the withdrawal of all of, or a significant portion of, the deposits of one or more of the depositing authorities may result in a temporary reduction in liquidity, depending primarily on the maturities and/or classifications of the securities pledged against such deposits and the ability to replace such deposits with either new deposits or other borrowings. Public fund deposits totaled $640.7 million at December 31, 2017. |
Litigation |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Litigation [Abstract] | |
Litigation | Note 23. Litigation First Guaranty is subject to various legal proceedings in the normal course of its business. It is Management's belief that the ultimate resolution of such claims will not have a material adverse effect on First Guaranty's financial position or results of operations. |
Condensed Parent Company Information |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Parent Company Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Parent Company Information | Note 24. Condensed Parent Company Information The following condensed financial information reflects the accounts and transactions of First Guaranty Bancshares, Inc. for the dates indicated: First Guaranty Bancshares, Inc. Condensed Balance Sheets
First Guaranty Bancshares, Inc. Condensed Statements of Income
First Guaranty Bancshares, Inc. Condensed Statements of Cash Flows
|
Business and Summary of Significant Accounting Policies (Policies) |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Business and Summary of Significant Accounting Policies [Abstract] | |
Consolidation | Consolidation The consolidated financial statements include the accounts of First Guaranty Bancshares, Inc., and its wholly owned subsidiary, First Guaranty Bank. All significant intercompany balances and transactions have been eliminated in consolidation. |
Acquisition Accounting | Acquisition Accounting Acquisitions are accounted for under the purchase method of accounting. Purchased assets, including identifiable intangibles, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a gain on acquisition is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. See Acquired Loans section below for accounting policy regarding loans acquired in a business combination. |
Use of Estimates | Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and the valuation of investment securities. In connection with the determination of the allowance for loan losses and real estate owned, First Guaranty obtains independent appraisals for significant properties. |
Cash and Cash Equivalents | Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents are defined as cash, due from banks, interest-bearing demand deposits with banks and federal funds sold with maturities of three months or less. |
Securities | Securities First Guaranty reviews its financial position, liquidity and future plans in evaluating the criteria for classifying investment securities. Debt securities that Management has the ability and intent to hold to maturity are classified as held to maturity and carried at cost, adjusted for amortization of premiums and accretion of discounts using methods approximating the interest method. Securities available for sale are stated at fair value. The unrealized difference, if any, between amortized cost and fair value of these AFS securities is excluded from income and is reported, net of deferred taxes, in accumulated other comprehensive income as a part of shareholders' equity. Details of other comprehensive income are reported in the consolidated statements of comprehensive income. Realized gains and losses on securities are computed based on the specific identification method and are reported as a separate component of other income. Amortization of premiums and discounts is included in interest income. Discounts and premiums related to debt securities are amortized using the effective interest rate method. Management evaluates securities for other-than-temporary impairment ("OTTI") at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. In estimating other-than-temporary losses, management considers the length of time and extent that fair value has been less than cost and the financial condition and near term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. |
Loans Held for Sale | Loans held for sale Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Loans held for sale have primarily been fixed rate single-family residential mortgage loans under contract to be sold in the secondary market. In most cases, loans in this category are sold within thirty days. Buyers generally have recourse to return a purchased loan under limited circumstances. Recourse conditions may include early payment default, breach of representations or warranties and documentation deficiencies. Mortgage loans held for sale are generally sold with the mortgage servicing rights released. Gains or losses on sales of mortgage loans are recognized based on the differences between the selling price and the carrying value of the related mortgage loans sold. |
Loans | Loans Loans are stated at the principal amounts outstanding, net of unearned income and deferred loan fees. In addition to loans issued in the normal course of business, overdrafts on customer deposit accounts are considered to be loans and reclassified as such. Interest income on all classifications of loans is calculated using the simple interest method on daily balances of the principal amount outstanding. Accrual of interest is discontinued on a loan when Management believes, after considering economic and business conditions and collection efforts, the borrower's financial condition is such that reasonable doubt exists as to the full and timely collection of principal and interest. This evaluation is made for all loans that are 90 days or more contractually past due. When a loan is placed in nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of interest and principal is probable. Loans are returned to accrual status when, in the judgment of Management, all principal and interest amounts contractually due are reasonably assured to be collected within a reasonable time frame and when the borrower has demonstrated payment performance of cash or cash equivalents; generally for a period of six months. All loans, except mortgage loans, are considered past due if they are past due 30 days. Mortgage loans are considered past due when two consecutive payments have been missed. Loans that are past due 90-120 days and deemed uncollectible are charged-off. The loan charge off is a reduction of the allowance for loan losses. |
Troubled Debt Restructurings (TDRs) | Troubled Debt Restructurings (TDRs) TDRs are loans in which the borrower is experiencing financial difficulty at the time of restructuring, and the Bank has granted a concession to the borrower. TDRs are undertaken in order to improve the likelihood of recovery on the loan and may take the form of modifications made with the stated interest rate lower than the current market rate for new debt with similar risk, other modifications to the structure of the loan that fall outside of normal underwriting policies and procedures, or in limited circumstances forgiveness of principal and / or interest. TDRs can involve loans remaining on non-accrual, moving to non-accrual, or continuing on accrual status, depending on the individual facts and circumstances of the borrower. TDRs are subject to policies governing accrual and non-accrual evaluation consistent with all other loans as discussed in the "Loans" section above. All loans with the TDR designation are considered to be impaired, even if they are accruing. First Guaranty's policy is to evaluate TDRs that have subsequently been restructured and returned to market terms after 12 months of performance. The evaluation includes a review of the loan file and analysis of the credit to assess the loan terms, including interest rate to insure such terms are consistent with market terms. The loan terms are compared to a sampling of loans with similar terms and risk characteristics, including loans originated by First Guaranty and loans lost to a competitor. The sample provides a guide to determine market terms pursuant to ASC 310-40-50-2. The loan is also evaluated at that time for impairment. A loan determined to be restructured to market terms and not considered impaired will no longer be disclosed as a TDR in the years following the restructuring. These loans will continue to be individually evaluated for impairment. A loan determined to either be restructured to below market terms or to be impaired will remain a TDR. |
Credit Quality | Credit Quality First Guaranty's credit quality indicators are pass, special mention, substandard, and doubtful. Loans included in the pass category are performing loans with satisfactory debt coverage ratios, collateral, payment history, and documentation requirements. Special mention loans have potential weaknesses that deserve close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects. Borrowers may be experiencing adverse operating trends (declining revenues or margins) or an ill proportioned balance sheet (e.g., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a special mention rating. Nonfinancial reasons include management problems, pending litigation, an ineffective loan agreement or other material structural weakness, and any other significant deviation from prudent lending practices. A substandard loan is inadequately protected by the paying capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness. They are characterized by the distinct possibility that First Guaranty will sustain some loss if the deficiencies are not corrected. These loans require more intensive supervision. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity, or marginal capitalization. Repayment may depend on collateral or other credit risk mitigates. For some substandard loans, the likelihood of full collection of interest and principal may be in doubt and interest is no longer accrued. Consumer loans that are 90 days or more past due or that are nonaccrual are considered substandard. Doubtful loans have the weaknesses of substandard loans with the additional characteristic that the weaknesses make collection or liquidation in full questionable and there is a high probability of loss based on currently existing facts, conditions and values. A loan is considered impaired when, based on current information and events, it is probable that First Guaranty will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's obtainable market price or the fair value of the collateral if the loan is collateral dependent. This process is only applied to impaired loans or relationships in excess of $500,000. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, individual consumer and residential loans are not separately identified for impairment disclosures, unless such loans are the subject of a restructuring agreement. Loans that have been restructured in a troubled debt restructuring will continue to be evaluated individually for impairment, including those no longer requiring disclosure. |
Acquired Loans | Acquired Loans Loans are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. Acquired loans are segregated between those with deteriorated credit quality at acquisition and those deemed as performing. To make this determination, Management considers such factors as past due status, nonaccrual status, credit risk ratings, interest rates and collateral position. The fair value of acquired loans deemed performing is determined by discounting cash flows, both principal and interest, for each pool at prevailing market interest rates as well as consideration of inherent potential losses. The difference between the fair value and principal balances due at acquisition date, the fair value discount, is accreted into income over the estimated life of each loan pool. Loans acquired in a business combination are recorded at their estimated fair value on their purchase date with no carryover of the related allowance for loan losses. Performing acquired loans are subsequently evaluated for any required allowance at each reporting date. An allowance for loan losses is calculated using a similar methodology for originated loans. |
Loan Fees and Costs | Loan fees and costs Nonrefundable loan origination and commitment fees and direct costs associated with originating loans are deferred and recognized over the lives of the related loans as an adjustment to the loans' yield using the level yield method. |
Allowance for Loan Losses | Allowance for loan losses The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when Management believes that the collectability of the principal is unlikely. The allowance, which is based on evaluation of the collectability of loans and prior loan loss experience, is an amount that, in the opinion of Management, reflects the risks inherent in the existing loan portfolio and exists at the reporting date. The evaluations take into consideration a number of subjective factors including changes in the nature and volume of the loan portfolio, historical losses, overall portfolio quality, review of specific problem loans, current economic conditions that may affect a borrower's ability to pay, adequacy of loan collateral and other relevant factors. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require additional recognition of losses based on their judgments about information available to them at the time of their examination. The following are general credit risk factors that affect First Guaranty's loan portfolio segments. These factors do not encompass all risks associated with each loan category. Construction and land development loans have risks associated with interim construction prior to permanent financing and repayment risks due to the future sale of developed property. Farmland and agricultural loans have risks such as weather, government agricultural policies, fuel and fertilizer costs, and market price volatility. 1-4 family, multi-family, and consumer credits are strongly influenced by employment levels, consumer debt loads and the general economy. Non-farm non-residential loans include both owner occupied real estate and non-owner occupied real estate. Common risks associated with these properties is the ability to maintain tenant leases and keep lease income at a level able to service required debt and operating expenses. Commercial and industrial loans generally have non-real estate secured collateral which requires closer monitoring than real estate collateral. Although Management uses available information to recognize losses on loans, because of uncertainties associated with local economic conditions, collateral values and future cash flows on impaired loans, it is reasonably possible that a material change could occur in the allowance for loan losses in the near term. However, the amount of the change that is reasonably possible cannot be estimated. The evaluation of the adequacy of loan collateral is often based upon estimates and appraisals. Because of changing economic conditions, the valuations determined from such estimates and appraisals may also change. Accordingly, First Guaranty may ultimately incur losses that vary from Management's current estimates. Adjustments to the allowance for loan losses will be reported in the period such adjustments become known or can be reasonably estimated. All loan losses are charged to the allowance for loan losses when the loss actually occurs or when the collectability of the principal is unlikely. Recoveries are credited to the allowance at the time of recovery. The allowance consists of specific, general, and unallocated components. The specific component relates to loans that are classified as doubtful, substandard, and impaired. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. Also, a specific reserve is allocated for syndicated loans. The general component covers non-classified loans and special mention loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component is maintained to cover uncertainties that could affect the estimate of probable losses. The allowance for loan losses is reviewed on a monthly basis. The monitoring of credit risk also extends to unfunded credit commitments, such as unused commercial credit lines and letters of credit. A reserve is established as needed for estimates of probable losses on such commitments. |
Goodwill and Intangible Assets | Goodwill and intangible assets Goodwill and intangible assets deemed to have indefinite lives are subject to annual impairment tests. First Guaranty's goodwill is tested for impairment on an annual basis, or more often if events or circumstances indicate that there may be impairment. Adverse changes in the economic environment, declining operations, or other factors could result in a decline in the implied fair value of goodwill. If the implied fair value is less than the carrying amount, a loss would be recognized in other non-interest expense to reduce the carrying amount to implied fair value of goodwill. The goodwill impairment test includes two steps that are preceded by a, "step zero", qualitative test. The qualitative test allows Management to assess whether qualitative factors indicate that it is more likely than not that impairment exists. If it is not more likely than not that impairment exists, then no impairment exists and the two step quantitative test would not be necessary. These qualitative indicators include factors such as earnings, share price, market conditions, etc. If the qualitative factors indicate that it is more likely than not that impairment exists, then the two step quantitative test would be necessary. Step one is used to identify potential impairment and compares the estimated fair value of a reporting unit with its carrying amount, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its estimated fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. Step two of the goodwill impairment test compares the implied estimated fair value of reporting unit goodwill with the carrying amount of that goodwill. If the carrying amount of goodwill for that reporting unit exceeds the implied fair value of that unit's goodwill, an impairment loss is recognized in an amount equal to that excess. Identifiable intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or legal rights or because the assets are capable of being sold or exchanged either on their own or in combination with the related contract, asset or liability. First Guaranty's intangible assets primarily relate to core deposits. These core deposit intangibles are amortized on a straight-line basis over terms ranging from seven to fifteen years. Management periodically evaluates whether events or circumstances have occurred that impair this deposit intangible. |
Premises and Equipment | Premises and equipment Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is computed for financial reporting purposes using the straight-line method over the estimated useful lives of the respective assets as follows: Buildings and improvements 10-40 years Equipment, fixtures and automobiles 3-10 years Expenditures for renewals and betterments are capitalized and depreciated over their estimated useful lives. Repairs, maintenance and minor improvements are charged to operating expense as incurred. Gains or losses on disposition, if any, are recorded as a separate line item in noninterest income on the Statements of Income. |
Other Real Estate | Other real estate Other real estate includes properties acquired through foreclosure or acceptance of deeds in lieu of foreclosure. These properties are recorded at the lower of the recorded investment in the property or its fair value less the estimated cost of disposition. Any valuation adjustments required prior to foreclosure are charged to the allowance for loan losses. Subsequent to foreclosure, losses on the periodic revaluation of the property are charged to current period earnings as other real estate expense. Costs of operating and maintaining the properties are charged to other real estate expense as incurred. Any subsequent gains or losses on dispositions are credited or charged to income in the period of disposition. |
Off-balance Sheet Financial Instruments | Off-balance sheet financial instruments In the ordinary course of business, First Guaranty has entered into commitments to extend credit, including commitments under credit card arrangements, commitments to fund commercial real estate, construction and land development loans secured by real estate, and performance standby letters of credit. Such financial instruments are recorded when they are funded. |
Income Taxes | Income taxes First Guaranty and its subsidiary file a consolidated federal income tax return on a calendar year basis. In lieu of Louisiana state income tax, the Bank is subject to the Louisiana bank shares tax, which is included in noninterest expense in First Guaranty's consolidated financial statements. With few exceptions, First Guaranty is no longer subject to U.S. federal, state or local income tax examinations for years before 2014. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the deferred tax assets or liabilities are expected to be settled or realized. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be utilized. |
Comprehensive Income | Comprehensive income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items along with net income, are components of comprehensive income. The components of other comprehensive income and related tax effects are presented in the Statements of Comprehensive Income. |
Fair Value Measurements | Fair Value Measurements The fair value of a financial instrument is the current amount 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. Valuation techniques use certain inputs to arrive at fair value. Inputs to valuation techniques are the assumptions that market participants would use in pricing the asset or liability. They may be observable or unobservable. First Guaranty uses 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. See Note 20 for a detailed description of fair value measurements. |
Transfers of Financial Assets | Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (i) the assets have been isolated from First Guaranty, (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) First Guaranty does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. |
Earnings per Common Share | Earnings per common share Earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. In December of 2017, First Guaranty issued a pro rata, 10% common stock dividend. The shares issued for the stock dividend have been retrospectively factored into the calculation of earnings per share as well as cash dividends paid on common stock and represented on the face of the financial statements. No convertible shares of First Guaranty's stock are outstanding. |
Operating Segments | Operating Segments All of First Guaranty's operations are considered by management to be aggregated into one reportable operating segment. While the chief decision-makers monitor the revenue streams of the various products and services, the identifiable segments are not material. Operations are managed and financial performance is evaluated on a Company-wide basis. |
Reclassifications | Reclassifications Certain reclassifications have been made to prior year end financial statements in order to conform to the classification adopted for reporting in 2017. |
Recent Accounting Pronouncements (Policies) |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | In February 2016, the FASB issued ASU 2016-02, "Leases: Conforming Amendments Related to Leases". This ASU amends the codification regarding leases in order to increase transparency and comparability. The ASU requires companies to recognize lease assets and liabilities on the balance sheet and disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. The ASU is effective for annual and interim periods beginning after December 15, 2018. The adoption of this ASU is not expected to have a material effect on First Guaranty's Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments". This ASU amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. The ASU amendments require the measurement of all expected credit losses for financial assets held at the reporting date be based on historical experience, current conditions, and reasonable and supportable forecasts. The ASU requires assets held at cost basis to reflect the company's current estimate of all expected credit losses. For available for sale debt securities, credit losses should be presented as an allowance rather than as a write-down. In addition, this ASU amends the accounting for purchased financial assets with credit deterioration. This ASU is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment". This ASU amends the guidance on impairment testing. The ASU eliminates Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit should be considered when measuring the goodwill impairment loss, if applicable. The ASU also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU is effective for annual and interim periods beginning after December 15, 2019. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In March 2017, the FASB issued ASU 2017-08, "Receivables- Nonrefundable Fees and Other Costs, Premium Amortization on Purchased Callable Debt Securities". This ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, this ASU requires the premium to be amortized to the earliest call date. This ASU does not require an accounting change for securities held at a discount, the discount continues to be amortized to maturity. This ASU is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In February 2018, the FASB issued ASU 2018-02, "Income Statement - Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". This ASU provides an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. This ASU requires disclosure of a description of the accounting policy for releasing income tax effects from AOCI; whether election is made to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and information about the other income tax effects that are reclassified. This ASU is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. In March 2018, the FASB issued ASU 2018-05, "Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118". This ASU adds SEC paragraphs pursuant to the SEC Staff Accounting Bulletin No. 118, which expresses the view of the staff regarding application of Topic 740, Income Taxes, in the reporting period that includes December 22, 2017 - the date on which the Tax Cuts and Jobs Act (H.R.1, An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018) was signed into law. This ASU is effective for annual and interim periods beginning after December 15, 2018. We are currently evaluating the impact of the adoption of this guidance on the Consolidated Financial Statements. |
Merger Transaction (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Merger Transaction [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Tangible and Intangible Assets Acquired and Liabilities Assumed | Based on management's preliminary valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, the purchase price for the Premier acquisition is allocated in the table below.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pro Forma Information | The following pro forma information for the twelve months ended December 31, 2017 and December 31, 2016 reflects First Guaranty's estimated consolidated results of operations as if the acquisition of Premier occurred at January 1, 2016, unadjusted for potential cost savings.
|
Securities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Comparison of Securities by Type | A summary comparison of securities by type at December 31, 2017 and 2016 is shown below.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date | The scheduled maturities of securities at December 31, 2017, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to call or prepayments. Mortgage-backed securities are not due at a single maturity because of amortization and potential prepayment of the underlying mortgages. For this reason they are presented separately in the maturity table below.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments | The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses as of the dates indicated:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other than Temporary Impairment Losses on Available-for-Sale Securities | During the years ended December 31, 2017,2016, and 2015, First Guaranty recorded OTTI losses on available for sale securities as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Losses on Debt Securities for which Portion of OTTI Recognized in OCI | The following table presents a roll-forward of the amount of credit losses on debt securities held by First Guaranty for which a portion of OTTI was recognized in other comprehensive income for the year ended December 31, 2017, 2016, and 2015:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Exposure to Investment Securities Issuers that Exceeded 10% of Shareholder's Equity | At December 31, 2017, First Guaranty's exposure to investment securities issuers that exceeded 10% of shareholders' equity as follows:
|
Loans (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Components of Loan Portfolio | The following table summarizes the components of First Guaranty's loan portfolio as of the dates indicated:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Fixed and Floating Rate Loans by Contractual Maturity, Excluding Nonaccrual Loans | The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of December 31, 2017 and December 31, 2016 unadjusted for scheduled principal payments, prepayments, or repricing opportunities. The average life of the loan portfolio may be substantially less than the contractual terms when these adjustments are considered.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Past due Financing Receivables | The following tables present the age analysis of past due loans for the periods indicated:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Nonaccrual Loans by Class | The following is a summary of nonaccrual loans by class for the periods indicated:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Exposure of Loan Portfolio, Including Loans Acquired with Deteriorated Credit Quality, by Specific Credit Ratings | The following table identifies the credit exposure of the loan portfolio by specific credit ratings for the periods indicated:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Amount of Purchased Impaired Loans | The carrying amount of those loans is as follows at December 31, 2017.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable Yield, or Income Expected to be Collected, on Purchased Loans | The accretable yield, or income expected to be collected, on the purchased loans above is as follows at December 31, 2017.
|
Allowance for Loan Losses (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Allowance for Loan Losses and Allowance and Loans Individually and Collectively Evaluated for Impairment | A summary of changes in the allowance for loan losses, by loan type, for the years ended December 31, 2017, 2016 and 2015 are as follows:
A summary of the allowance and loans individually and collectively evaluated for impairment are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Impaired Loans, Excluding Loans Acquired with Deteriorated Credit Quality, by Class | The following is a summary of impaired loans by class at December 31, 2017:
The following is a summary of impaired loans by class at December 31, 2016:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | The following table is an age analysis of TDRs as of December 31, 2017 and December 31, 2016:
The following table discloses TDR activity for the twelve months ended December 31, 2017.
|
Premises and Equipment (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premises and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premises and Equipment | The components of premises and equipment at December 31, 2017 and 2016 are as follows:
|
Goodwill and Other Intangible Assets (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Finite-lived Intangible Assets | The following table summarizes intangible assets subject to amortization.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization Expense of Core Deposit Intangible Assets for Next Five Years | Amortization expense of the core deposit intangible assets for the next five years is as follows:
|
Other Real Estate (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Real Estate [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Other Real Estate Owned | Other real estate owned consists of the following:
|
Deposits (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||
Deposits [Abstract] | ||||||||||||||||||||||||||||||||||||
Schedule of Maturities of All Time Deposits | A schedule of maturities of all time deposits are as follows:
|
Borrowings (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Short-term Borrowings | Short-term borrowings are summarized as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term Borrowings | The following schedule provides certain information about First Guaranty's short-term borrowings for the periods indicated:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Obligations on Senior Long-term Debt and Junior Subordinated Debentures | As of December 31, 2017 obligations on senior long-term debt and junior subordinated debentures totaled $37.4 million. The scheduled maturities are as follows:
|
Capital Requirements (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Requirements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual and Required Capital Amounts and Ratios | First Guaranty's and the Bank's actual capital amounts and ratios as of December 31, 2017 and 2016 are presented in the following table.
|
Related Party Transactions (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Related Party Transactions | An analysis of the activity of loans made to such borrowers during the year ended December 31, 2017 and 2016 follows:
|
Other Expenses (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Components of Other Noninterest Expense | The following is a summary of the significant components of other noninterest expense:
|
Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Provision for Income Taxes | The following is a summary of the provision for income taxes included in the Consolidated Statements of Income:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate Reconciliation | The difference between income taxes computed by applying the statutory federal income tax rate and the provision for income taxes in the financial statements is reconciled as follows:
(1) Included in other for the year ended December 31, 2017 is $0.9 million related to the estimated net impact from the remeasurement of deferred tax assets and liabilities as a result of the passage of the Tax Cuts and Jobs Act in December 2017. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Deferred Tax Assets and Liabilities | The significant components of deferred taxes classified in First Guaranty's Consolidated Balance Sheets at December 31, 2017 and 2016 are as follows:
|
Commitments and Contingencies (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Summary of Notional Amounts of Financial Instruments with Off-Balance Sheet Risk | Set forth below is a summary of the notional amounts of the financial instruments with off-balance sheet risk at December 31, 2017 and December 31, 2016.
|
Fair Value Measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis | The following table summarizes financial assets measured at fair value on a recurring basis as of December 31, 2017 and 2016, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements, Nonrecurring | The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of December 31, 2017, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:
|
Financial Instruments (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Estimated Fair Values and Carrying Values of Financial Instruments | The estimated fair values and carrying values of the financial instruments at December 31, 2017 and 2016 are presented in the following table:
|
Condensed Parent Company Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Parent Company Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Balance Sheets | First Guaranty Bancshares, Inc. Condensed Balance Sheets
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Statements of Income | First Guaranty Bancshares, Inc. Condensed Statements of Income
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Statements of Cash Flows | First Guaranty Bancshares, Inc. Condensed Statements of Cash Flows
|
Business and Summary of Significant Accounting Policies (Details) |
1 Months Ended | 12 Months Ended | |
---|---|---|---|
Dec. 14, 2017 |
Dec. 31, 2017
USD ($)
|
Dec. 31, 2017
USD ($)
Office
Facility
ATM
Payment
Segment
|
|
Business and Summary of Significant Accounting Policies [Abstract] | |||
Number of banking offices | Office | 27 | ||
Number of drive up banking facility | Facility | 1 | ||
Number of automated teller machines (ATMs) | ATM | 38 | ||
Acquisition Accounting [Abstract] | |||
Maximum period of fair value refinement after closing date of acquisition | 1 year | ||
Loans [Abstract] | |||
Past due period after which evaluation is made for discontinuation of interest accrual on loan | 90 days | ||
Period of payment performance after which loans are returned to accrual status | 6 months | ||
Troubled Debt Restructurings (TDRs) [Abstract] | |||
Period of performance, after which the Company evaluates TDRs that have subsequently been restructured and returned to market terms | 12 months | ||
Credit Quality [Abstract] | |||
Minimum balance of impaired loans over which impairment method is applied | $ | $ 500,000 | $ 500,000 | |
Earnings per common share [Abstract] | |||
Common stock, dividend paid percentage | 10.00% | 10.00% | |
Operating Segments [Abstract] | |||
Number of reportable operating segments | Segment | 1 | ||
Minimum [Member] | |||
Loans [Abstract] | |||
Threshold period past due for charge-off of loans | 90 days | ||
Maximum [Member] | |||
Loans [Abstract] | |||
Threshold period past due for charge-off of loans | 120 days | ||
Single-Family Residential [Member] | Fixed Rate Residential Mortgage [Member] | |||
Loans held for sale [Abstract] | |||
Period within which loans are sold in secondary market | 30 days | ||
All Loans Except Mortgage Loans [Member] | |||
Loans [Abstract] | |||
Past due period after which loans are considered past due | 30 days | ||
Mortgage Loans [Member] | |||
Loans [Abstract] | |||
Number of consecutive payments missed after which loans are considered past due | Payment | 2 | ||
Building and Improvements [Member] | Minimum [Member] | |||
Premises and equipment [Abstract] | |||
Estimated useful life | 10 years | ||
Building and Improvements [Member] | Maximum [Member] | |||
Premises and equipment [Abstract] | |||
Estimated useful life | 40 years | ||
Equipment, Fixtures and Automobiles [Member] | Minimum [Member] | |||
Premises and equipment [Abstract] | |||
Estimated useful life | 3 years | ||
Equipment, Fixtures and Automobiles [Member] | Maximum [Member] | |||
Premises and equipment [Abstract] | |||
Estimated useful life | 10 years | ||
Core Deposits [Member] | Minimum [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization period | 7 years | ||
Core Deposits [Member] | Maximum [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization period | 15 years | ||
Consumer Loans [Member] | |||
Credit Quality [Abstract] | |||
Period past due after which loans are considered substandard | 90 days |
Merger Transaction (Details) - USD ($) $ / shares in Units, $ in Thousands |
1 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Dec. 14, 2017 |
Jun. 16, 2017 |
Dec. 31, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Business Acquisition [Line Items] | |||||
Common stock, dividend paid percentage | 10.00% | 10.00% | |||
Acquired assets and liabilities at fair value [Abstract] | |||||
Goodwill | $ 3,472 | $ 3,472 | $ 1,999 | ||
Premier Bancshares, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Percentage of outstanding shares acquired | 100.00% | ||||
Number of shares of common stock issued for each share of acquired entity (in shares) | 0.119 | ||||
Total number of shares of common stock issued in acquisition (in shares) | 397,988 | ||||
Share price (in dollars per share) | $ 25.86 | ||||
Common stock, dividend paid percentage | 10.00% | ||||
Acquisition value paid in cash | $ 10,300 | ||||
Acquired assets and liabilities at fair value [Abstract] | |||||
Cash and due from banks | 4,542 | ||||
Federal funds sold | 2,855 | ||||
Securities available for sale | 5,892 | ||||
Loans | 128,018 | ||||
Premises and equipment | 9,493 | ||||
Goodwill | 1,474 | ||||
Intangible assets | 3,809 | ||||
Other real estate | 221 | ||||
Other assets | 2,009 | ||||
Total assets acquired | 158,313 | ||||
Deposits | 127,228 | ||||
FHLB borrowings | 9,700 | ||||
Other liabilities | 431 | ||||
Total liabilities assumed | 137,359 | ||||
Net assets acquired | 20,954 | ||||
Acquired receivables not considered impaired [Abstract] | |||||
Non-impaired loans excluded from purchase credit impairment guidance, estimated fair value | 123,700 | ||||
Non-impaired loans excluded from purchase credit impairment guidance, gross contractual amount | 122,900 | ||||
Non-impaired loans excluded from purchase credit impairment guidance, estimated uncollectible | 500 | ||||
Pro forma information [Abstract] | |||||
Net Interest Income | 55,663 | 53,190 | |||
Noninterest Income | 8,540 | 11,541 | |||
Noninterest Expense | 42,434 | 39,395 | |||
Net Income | $ 10,885 | $ 13,709 | |||
Earnings per common share (in dollars per share) | $ 1.24 | $ 1.56 | |||
Premier Bancshares, Inc. [Member] | Core Deposits [Member] | |||||
Acquired assets and liabilities at fair value [Abstract] | |||||
Intangible assets | $ 2,700 |
Cash and Due from Banks (Details) |
Dec. 31, 2017
USD ($)
Account
|
Dec. 31, 2016
USD ($)
Account
|
---|---|---|
Cash and Due from Banks [Abstract] | ||
Reserve maintained at Federal Reserve Bank | $ 0 | $ 0 |
Number of accounts that exceeded FDIC insurable limit | Account | 1 | 1 |
FDIC insurable limit | $ 250,000 | $ 250,000 |
Balance in excess of FDIC insurable limit | $ 600,000 | $ 4,000 |
Securities, Summary Comparison of Securities by Type (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Available for Sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | $ 383,893 | $ 403,532 |
Gross unrealized gains | 3,095 | 1,724 |
Gross unrealized losses | (5,453) | (7,783) |
Fair value | 381,535 | 397,473 |
Held to Maturity Securities [Abstract] | ||
Amortized cost | 120,121 | 101,863 |
Gross unrealized gains | 21 | 0 |
Gross unrealized losses | (1,585) | (1,957) |
Fair value | 118,557 | 99,906 |
U.S. Treasuries [Member] | ||
Available for Sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 19,490 | 29,994 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (4) | 0 |
Fair value | 19,486 | 29,994 |
U.S. Government Agencies [Member] | ||
Available for Sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 200,052 | 183,152 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (4,069) | (4,820) |
Fair value | 195,983 | 178,332 |
Corporate Debt Securities [Member] | ||
Available for Sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 91,770 | 132,448 |
Gross unrealized gains | 661 | 1,624 |
Gross unrealized losses | (946) | (2,100) |
Fair value | 91,485 | 131,972 |
Mutual Funds or Other Equity Securities [Member] | ||
Available for Sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 500 | 580 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (7) | (7) |
Fair value | 493 | 573 |
Municipal Bonds [Member] | ||
Available for Sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 37,210 | 28,177 |
Gross unrealized gains | 2,434 | 100 |
Gross unrealized losses | (75) | (320) |
Fair value | 39,569 | 27,957 |
Collateralized Mortgage Obligations [Member] | ||
Available for Sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 1,191 | 0 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (6) | 0 |
Fair value | 1,185 | 0 |
Mortgage-backed Securities [Member] | ||
Available for Sale Securities, Fair Value to Amortized Cost Basis [Abstract] | ||
Amortized cost | 33,680 | 29,181 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (346) | (536) |
Fair value | 33,334 | 28,645 |
US Government Agencies [Member] | ||
Held to Maturity Securities [Abstract] | ||
Amortized cost | 28,169 | 18,167 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | (670) | (655) |
Fair value | 27,499 | 17,512 |
Municipal Bonds [Member] | ||
Held to Maturity Securities [Abstract] | ||
Amortized cost | 5,322 | 0 |
Gross unrealized gains | 15 | 0 |
Gross unrealized losses | (12) | 0 |
Fair value | 5,325 | 0 |
Mortgage-backed Securities [Member] | ||
Held to Maturity Securities [Abstract] | ||
Amortized cost | 86,630 | 83,696 |
Gross unrealized gains | 6 | 0 |
Gross unrealized losses | (903) | (1,302) |
Fair value | $ 85,733 | $ 82,394 |
Securities, Scheduled Maturities of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Available for Sale Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Due in one year or less | $ 29,215 | |
Due after one year through five years | 76,969 | |
Due after five years through 10 years | 217,238 | |
Over 10 years | 25,600 | |
Subtotal | 349,022 | |
Amortized cost | 383,893 | |
Available for Sale Securities, Debt Maturities, Fair Value [Abstract] | ||
Due in one year or less | 29,233 | |
Due after one year through five years | 76,922 | |
Due after five years through 10 years | 214,769 | |
Over 10 years | 26,092 | |
Subtotal | 347,016 | |
Fair value | 381,535 | |
Held to Maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Due in one year or less | 0 | |
Due after one year through five years | 5,124 | |
Due after five years through 10 years | 18,485 | |
Over 10 years | 9,882 | |
Subtotal | 33,491 | |
Mortgage-backed securities | 86,630 | |
Amortized cost | 120,121 | $ 101,863 |
Held to Maturity Securities, Debt Maturities, Fair Value [Abstract] | ||
Due in one year or less | 0 | |
Due after one year through five years | 5,057 | |
Due after five years through 10 years | 17,907 | |
Over 10 years | 9,860 | |
Subtotal | 32,824 | |
Mortgage-backed securities | 85,733 | |
Fair value | 118,557 | $ 99,906 |
Collateralized Mortgage Obligations [Member] | ||
Available for Sale Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Without single maturity date | 1,191 | |
Available for Sale Securities, Debt Maturities, Fair Value [Abstract] | ||
Without single maturity date | 1,185 | |
Mortgage-backed Securities [Member] | ||
Available for Sale Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Without single maturity date | 33,680 | |
Available for Sale Securities, Debt Maturities, Fair Value [Abstract] | ||
Without single maturity date | $ 33,334 |
Securities, Summary of Securities in Continuous Unrealized Loss Position (Details) $ in Thousands |
Dec. 31, 2017
USD ($)
Security
|
Dec. 31, 2016
USD ($)
Security
|
---|---|---|
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 132 | 273 |
Less than 12 months, fair value | $ 122,124 | $ 290,345 |
Less than 12 months, gross unrealized losses | $ (885) | $ (7,296) |
12 months or more, number of securities | Security | 118 | 26 |
12 months or more, fair value | $ 175,202 | $ 6,440 |
12 months or more, gross unrealized losses | $ (4,568) | $ (487) |
Total, number of securities | Security | 250 | 299 |
Total, fair value | $ 297,326 | $ 296,785 |
Total, gross unrealized losses | $ (5,453) | $ (7,783) |
Held to Maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 45 | 58 |
Less than 12 months, fair value | $ 67,302 | $ 99,906 |
Less than 12 months, gross unrealized losses | $ (602) | $ (1,957) |
12 months or more, number of securities | Security | 27 | 0 |
12 months or more, fair value | $ 44,426 | $ 0 |
12 months or more, gross unrealized losses | $ (983) | $ 0 |
Total, number of securities | Security | 72 | 58 |
Total, fair value | $ 111,728 | $ 99,906 |
Total, gross unrealized losses | $ (1,585) | $ (1,957) |
Securities Disclosures [Abstract] | ||
Number of debt securities with unrealized losses | Security | 322 | |
Unrealized losses on debt securities in continuous loss position as percentage of total individual securities' amortized cost basis | 1.70% | |
Unrealized losses on debt securities in continuous loss position as percentage of amortized cost basis of investment securities portfolio | 1.40% | |
Number of debt securities in continuous loss position for over 12 months | Security | 145 | |
Debt securities in a continuous loss position for over 12 months, amortized cost basis | $ 225,200 | |
Debt securities in a continuous loss position for over 12 months, unrealized loss | $ 5,600 | |
U.S. Treasuries [Member] | ||
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 6 | 3 |
Less than 12 months, fair value | $ 19,486 | $ 10,997 |
Less than 12 months, gross unrealized losses | $ (4) | $ 0 |
12 months or more, number of securities | Security | 0 | 0 |
12 months or more, fair value | $ 0 | $ 0 |
12 months or more, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | Security | 6 | 3 |
Total, fair value | $ 19,486 | $ 10,997 |
Total, gross unrealized losses | $ (4) | $ 0 |
U.S. Government Agencies [Member] | ||
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 30 | 54 |
Less than 12 months, fair value | $ 62,991 | $ 178,331 |
Less than 12 months, gross unrealized losses | $ (519) | $ (4,820) |
12 months or more, number of securities | Security | 36 | 0 |
12 months or more, fair value | $ 132,992 | $ 0 |
12 months or more, gross unrealized losses | $ (3,550) | $ 0 |
Total, number of securities | Security | 66 | 54 |
Total, fair value | $ 195,983 | $ 178,331 |
Total, gross unrealized losses | $ (4,069) | $ (4,820) |
Corporate Debt Securities [Member] | ||
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 56 | 185 |
Less than 12 months, fair value | $ 19,050 | $ 61,669 |
Less than 12 months, gross unrealized losses | $ (240) | $ (1,613) |
12 months or more, number of securities | Security | 70 | 26 |
12 months or more, fair value | $ 22,818 | $ 6,440 |
12 months or more, gross unrealized losses | $ (706) | $ (487) |
Total, number of securities | Security | 126 | 211 |
Total, fair value | $ 41,868 | $ 68,109 |
Total, gross unrealized losses | $ (946) | $ (2,100) |
Mutual Funds or Other Equity Securities [Member] | ||
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 1 | 1 |
Less than 12 months, fair value | $ 493 | $ 493 |
Less than 12 months, gross unrealized losses | $ (7) | $ (7) |
12 months or more, number of securities | Security | 0 | 0 |
12 months or more, fair value | $ 0 | $ 0 |
12 months or more, gross unrealized losses | $ 0 | $ 0 |
Total, number of securities | Security | 1 | 1 |
Total, fair value | $ 493 | $ 493 |
Total, gross unrealized losses | $ (7) | $ (7) |
Municipal Bonds [Member] | ||
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 9 | 14 |
Less than 12 months, fair value | $ 4,431 | $ 10,210 |
Less than 12 months, gross unrealized losses | $ (36) | $ (320) |
12 months or more, number of securities | Security | 1 | 0 |
12 months or more, fair value | $ 1,079 | $ 0 |
12 months or more, gross unrealized losses | $ (39) | $ 0 |
Total, number of securities | Security | 10 | 14 |
Total, fair value | $ 5,510 | $ 10,210 |
Total, gross unrealized losses | $ (75) | $ (320) |
Collateralized Mortgage Obligations [Member] | ||
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 4 | |
Less than 12 months, fair value | $ 936 | |
Less than 12 months, gross unrealized losses | $ (6) | |
12 months or more, number of securities | Security | 0 | |
12 months or more, fair value | $ 0 | |
12 months or more, gross unrealized losses | $ 0 | |
Total, number of securities | Security | 4 | |
Total, fair value | $ 936 | |
Total, gross unrealized losses | $ (6) | |
Mortgage-backed Securities [Member] | ||
Summary of Fair Value of Securities with Gross Unrealized Losses and Aging of Gross Unrealized Losses [Abstract] | ||
Less than 12 months, number of securities | Security | 26 | 16 |
Less than 12 months, fair value | $ 14,737 | $ 28,645 |
Less than 12 months, gross unrealized losses | $ (73) | $ (536) |
12 months or more, number of securities | Security | 11 | 0 |
12 months or more, fair value | $ 18,313 | $ 0 |
12 months or more, gross unrealized losses | $ (273) | $ 0 |
Total, number of securities | Security | 37 | 16 |
Total, fair value | $ 33,050 | $ 28,645 |
Total, gross unrealized losses | $ (346) | $ (536) |
US Government Agencies [Member] | ||
Held to Maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 4 | 10 |
Less than 12 months, fair value | $ 9,925 | $ 17,512 |
Less than 12 months, gross unrealized losses | $ (75) | $ (655) |
12 months or more, number of securities | Security | 10 | 0 |
12 months or more, fair value | $ 17,574 | $ 0 |
12 months or more, gross unrealized losses | $ (595) | $ 0 |
Total, number of securities | Security | 14 | 10 |
Total, fair value | $ 27,499 | $ 17,512 |
Total, gross unrealized losses | $ (670) | $ (655) |
Municipal Bonds [Member] | ||
Held to Maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 6 | |
Less than 12 months, fair value | $ 3,191 | |
Less than 12 months, gross unrealized losses | $ (12) | |
12 months or more, number of securities | Security | 0 | |
12 months or more, fair value | $ 0 | |
12 months or more, gross unrealized losses | $ 0 | |
Total, number of securities | Security | 6 | |
Total, fair value | $ 3,191 | |
Total, gross unrealized losses | $ (12) | |
Mortgage-backed Securities [Member] | ||
Held to Maturity Securities, Continuous Unrealized Loss Position [Abstract] | ||
Less than 12 months, number of securities | Security | 35 | 48 |
Less than 12 months, fair value | $ 54,186 | $ 82,394 |
Less than 12 months, gross unrealized losses | $ (515) | $ (1,302) |
12 months or more, number of securities | Security | 17 | 0 |
12 months or more, fair value | $ 26,852 | $ 0 |
12 months or more, gross unrealized losses | $ (388) | $ 0 |
Total, number of securities | Security | 52 | 48 |
Total, fair value | $ 81,038 | $ 82,394 |
Total, gross unrealized losses | $ (903) | $ (1,302) |
Securities, Other Than Temporary Impairments (Details) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017
USD ($)
Issuer
|
Dec. 31, 2016
USD ($)
Security
|
Dec. 31, 2015
USD ($)
Security
|
|
OTTI losses recorded on available for sale securities [Abstract] | |||
Total OTTI charge realized and unrealized | $ 0 | $ 66 | $ 571 |
OTTI recognized in other comprehensive income (non-credit component) | 0 | 6 | 396 |
Net impairment losses recognized in earnings (credit component) | 0 | 60 | 175 |
Other than temporary impairment losses | 0 | 60 | 175 |
Book balance of securities with credit related OTTI losses | 383,893 | 403,532 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | |||
Beginning balance of credit losses at beginning of year | 60 | 175 | 0 |
Other-than-temporary impairment credit losses on securities not previously OTTI | 0 | 60 | 175 |
Increases for additional credit losses on securities previously determined to be OTTI | 0 | 0 | 0 |
Reduction for increases in cash flows | 0 | 0 | 0 |
Reduction due to credit impaired securities sold or fully settled | 0 | (175) | 0 |
Ending balance of cumulative credit losses recognized in earnings at end of year | $ 60 | $ 60 | $ 175 |
Available-for-sale Securities [Member] | Corporate Bond Securities [Member] | |||
OTTI losses recorded on available for sale securities [Abstract] | |||
Number of securities with credit related OTTI losses | Security | 1 | 2 | |
Book balance of securities with credit related OTTI losses | $ 100 | $ 800 | |
Available-for-sale Securities [Member] | Corporate Debt Securities [Member] | |||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | |||
Number of issuers having other-than-temporary impairment losses | Issuer | 2 | ||
Available-for-sale Securities [Member] | Corporate Debt Securities One [Member] | |||
OTTI losses recorded on available for sale securities [Abstract] | |||
OTTI recognized in other comprehensive income (non-credit component) | $ 6 | $ 300 | |
Number of securities with credit related OTTI losses | Security | 1 | 1 | |
Book balance of securities with credit related OTTI losses | $ 100 | $ 500 | |
Available-for-sale Securities [Member] | Corporate Debt Securities Two [Member] | |||
OTTI losses recorded on available for sale securities [Abstract] | |||
OTTI recognized in other comprehensive income (non-credit component) | $ 100 |
Securities, Pledged Securities and Realized and Unrealized Gains (Losses) (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2015 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Securities [Abstract] | ||||
Carrying value of pledged securities | $ 412,200 | $ 368,200 | ||
Total gains realized on security | $ 2,700 | 1,397 | 3,799 | $ 3,300 |
Gross realized gains | 1,400 | 3,600 | 3,300 | |
Gross realized losses | 100 | 53 | 400 | |
Tax (benefit) provision applicable to these realized net (losses)/gains | 500 | 1,300 | 1,200 | |
Proceeds from sales of securities | 148,000 | 191,000 | $ 290,000 | |
Net unrealized gains (losses) on available-for-sale securities included in AOCI , net of applicable income taxes | (1,600) | (4,000) | ||
Gains reclassified out of AOCI into earnings, net of tax | $ 900 | $ 2,500 |
Securities, Exposure to Investment Securities Issuers That Exceeded 10 Percent of Stockholders' Equity (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | $ 501,656 | $ 499,336 |
Stockholders' Equity, Total [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 368,021 | |
Fair value | 362,035 | |
Stockholders' Equity, Total [Member] | U.S. Treasuries [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 19,490 | |
Fair value | 19,486 | |
Stockholders' Equity, Total [Member] | Federal Home Loan Bank (FHLB) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 50,395 | |
Fair value | 49,403 | |
Stockholders' Equity, Total [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 57,569 | |
Fair value | 57,008 | |
Stockholders' Equity, Total [Member] | Federal National Mortgage Association (Fannie Mae-FNMA) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 103,644 | |
Fair value | 101,757 | |
Stockholders' Equity, Total [Member] | Federal Farm Credit Bank (FFCB) [Member] | ||
Exposure to investment securities issuers that exceeded 10% of shareholders' equity [Abstract] | ||
Amortized cost | 136,923 | |
Fair value | $ 134,381 |
Loans, Components of Loan Portfolio (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Balance [Abstract] | ||
Total loans before unearned income | $ 1,151,497 | $ 950,815 |
Unearned income | (2,483) | (1,894) |
Total loans net of unearned income | $ 1,149,014 | $ 948,921 |
As % of Category [Abstract] | ||
Percent of category | 100.00% | 100.00% |
Real Estate [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 854,098 | $ 670,052 |
As % of Category [Abstract] | ||
Percent of category | 74.10% | 70.50% |
Real Estate [Member] | Construction & Land Development [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 112,603 | $ 84,239 |
As % of Category [Abstract] | ||
Percent of category | 9.80% | 8.90% |
Real Estate [Member] | Farmland [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 25,691 | $ 21,138 |
As % of Category [Abstract] | ||
Percent of category | 2.20% | 2.20% |
Real Estate [Member] | 1 - 4-family [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 158,733 | $ 135,211 |
As % of Category [Abstract] | ||
Percent of category | 13.80% | 14.20% |
Real Estate [Member] | Multifamily [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 16,840 | $ 12,450 |
As % of Category [Abstract] | ||
Percent of category | 1.40% | 1.30% |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 540,231 | $ 417,014 |
As % of Category [Abstract] | ||
Percent of category | 46.90% | 43.90% |
Non-Real Estate [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 297,399 | $ 280,763 |
As % of Category [Abstract] | ||
Percent of category | 25.90% | 29.50% |
Non-Real Estate [Member] | Agricultural [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 21,514 | $ 23,783 |
As % of Category [Abstract] | ||
Percent of category | 1.90% | 2.50% |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 220,700 | $ 193,969 |
As % of Category [Abstract] | ||
Percent of category | 19.20% | 20.40% |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Balance [Abstract] | ||
Total loans before unearned income | $ 55,185 | $ 63,011 |
As % of Category [Abstract] | ||
Percent of category | 4.80% | 6.60% |
Loans, Fixed and Floating Rate Loans by Contractual Maturity (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | $ 164,744 | $ 149,678 |
One to five years | 641,468 | 558,676 |
Five to 15 years | 194,488 | 161,807 |
Over 15 years | 138,247 | 58,980 |
Subtotal | 1,138,947 | 929,141 |
Nonaccrual loans | 12,550 | 21,674 |
Total loans before unearned income | 1,151,497 | 950,815 |
Unearned income | (2,483) | (1,894) |
Total loans net of unearned income | 1,149,014 | 948,921 |
Fixed Rate Loans [Member] | ||
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | 89,383 | 97,713 |
One to five years | 390,333 | 352,000 |
Five to 15 years | 124,215 | 115,691 |
Over 15 years | 70,366 | 53,150 |
Subtotal | 674,297 | 618,554 |
Floating Rate Loans [Member] | ||
Financing Receivables, Fixed and Floating Rate Loans by Contractual Maturity [Abstract] | ||
One year or less | 75,361 | 51,965 |
One to five years | 251,135 | 206,676 |
Five to 15 years | 70,273 | 46,116 |
Over 15 years | 67,881 | 5,830 |
Subtotal | 464,650 | 310,587 |
Loans at interest rate floor | $ 95,400 | $ 127,700 |
Loans, Receivables Past Due (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|---|
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | $ 17,478 | $ 25,784 | |
Current | 1,134,019 | 925,031 | |
Total loans before unearned income | 1,151,497 | 950,815 | |
Recorded investment 90 days accruing | 839 | 179 | $ 410 |
Unearned income | (2,483) | (1,894) | |
Total loans net of unearned income | 1,149,014 | 948,921 | |
30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 4,089 | 3,931 | |
90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 13,389 | 21,853 | |
Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 8,904 | 13,977 | |
Current | 845,194 | 656,075 | |
Total loans before unearned income | 854,098 | 670,052 | |
Recorded investment 90 days accruing | 0 | 179 | |
Real Estate [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 2,757 | 3,133 | |
Real Estate [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 6,147 | 10,844 | |
Real Estate [Member] | Construction & Land Development [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 466 | 758 | |
Current | 112,137 | 83,481 | |
Total loans before unearned income | 112,603 | 84,239 | |
Recorded investment 90 days accruing | 0 | 34 | |
Real Estate [Member] | Construction & Land Development [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 95 | 173 | |
Real Estate [Member] | Construction & Land Development [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 371 | 585 | |
Real Estate [Member] | Farmland [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 240 | 339 | |
Current | 25,451 | 20,799 | |
Total loans before unearned income | 25,691 | 21,138 | |
Recorded investment 90 days accruing | 0 | 0 | |
Real Estate [Member] | Farmland [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 175 | 234 | |
Real Estate [Member] | Farmland [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 65 | 105 | |
Real Estate [Member] | 1 - 4-family [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 3,434 | 3,495 | |
Current | 155,299 | 131,716 | |
Total loans before unearned income | 158,733 | 135,211 | |
Recorded investment 90 days accruing | 0 | 145 | |
Real Estate [Member] | 1 - 4-family [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 1,481 | 1,108 | |
Real Estate [Member] | 1 - 4-family [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 1,953 | 2,387 | |
Real Estate [Member] | Multifamily [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 0 | 5,014 | |
Current | 16,840 | 7,436 | |
Total loans before unearned income | 16,840 | 12,450 | |
Recorded investment 90 days accruing | 0 | 0 | |
Real Estate [Member] | Multifamily [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 0 | 0 | |
Real Estate [Member] | Multifamily [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 0 | 5,014 | |
Real Estate [Member] | Non-Farm Non-Residential [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 4,764 | 4,371 | |
Current | 535,467 | 412,643 | |
Total loans before unearned income | 540,231 | 417,014 | |
Recorded investment 90 days accruing | 0 | 0 | |
Real Estate [Member] | Non-Farm Non-Residential [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 1,006 | 1,618 | |
Real Estate [Member] | Non-Farm Non-Residential [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 3,758 | 2,753 | |
Non-Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 8,574 | 11,807 | |
Current | 288,825 | 268,956 | |
Total loans before unearned income | 297,399 | 280,763 | |
Recorded investment 90 days accruing | 839 | 0 | |
Non-Real Estate [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 1,332 | 798 | |
Non-Real Estate [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 7,242 | 11,009 | |
Non-Real Estate [Member] | Agricultural [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 1,776 | 2,022 | |
Current | 19,738 | 21,761 | |
Total loans before unearned income | 21,514 | 23,783 | |
Recorded investment 90 days accruing | 41 | 0 | |
Non-Real Estate [Member] | Agricultural [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 239 | 64 | |
Non-Real Estate [Member] | Agricultural [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 1,537 | 1,958 | |
Non-Real Estate [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 6,254 | 8,622 | |
Current | 214,446 | 185,347 | |
Total loans before unearned income | 220,700 | 193,969 | |
Recorded investment 90 days accruing | 798 | 0 | |
Non-Real Estate [Member] | Commercial and Industrial [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 630 | 552 | |
Non-Real Estate [Member] | Commercial and Industrial [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 5,624 | 8,070 | |
Non-Real Estate [Member] | Consumer and Other [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 544 | 1,163 | |
Current | 54,641 | 61,848 | |
Total loans before unearned income | 55,185 | 63,011 | |
Recorded investment 90 days accruing | 0 | 0 | |
Non-Real Estate [Member] | Consumer and Other [Member] | 30-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | 463 | 182 | |
Non-Real Estate [Member] | Consumer and Other [Member] | 90 Days or Greater [Member] | |||
Financing Receivable, Recorded Investment, Aging [Abstract] | |||
Total past due | $ 81 | $ 981 |
Loans, Nonaccrual Loans (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 12,550 | $ 21,674 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 6,147 | 10,665 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 371 | 551 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 65 | 105 |
Real Estate [Member] | 1 - 4-family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 1,953 | 2,242 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 5,014 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 3,758 | 2,753 |
Non-Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 6,403 | 11,009 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 1,496 | 1,958 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 4,826 | 8,070 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 81 | $ 981 |
Loans, Credit Exposure of Portfolio (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | $ 1,151,497 | $ 950,815 |
Unearned income | (2,483) | (1,894) |
Total loans net of unearned income | 1,149,014 | 948,921 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 1,071,513 | 883,388 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 25,929 | 17,705 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 49,495 | 41,992 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 4,560 | 7,730 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 854,098 | 670,052 |
Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 812,454 | 619,535 |
Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5,679 | 14,541 |
Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 35,965 | 35,976 |
Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 112,603 | 84,239 |
Real Estate [Member] | Construction & Land Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 108,200 | 79,069 |
Real Estate [Member] | Construction & Land Development [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 125 | 1,162 |
Real Estate [Member] | Construction & Land Development [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 4,278 | 4,008 |
Real Estate [Member] | Construction & Land Development [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 25,691 | 21,138 |
Real Estate [Member] | Farmland [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 25,030 | 20,652 |
Real Estate [Member] | Farmland [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 569 | 381 |
Real Estate [Member] | Farmland [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 92 | 105 |
Real Estate [Member] | Farmland [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | 1 - 4-family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 158,733 | 135,211 |
Real Estate [Member] | 1 - 4-family [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 149,426 | 123,191 |
Real Estate [Member] | 1 - 4-family [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 1,856 | 5,460 |
Real Estate [Member] | 1 - 4-family [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 7,451 | 6,560 |
Real Estate [Member] | 1 - 4-family [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 16,840 | 12,450 |
Real Estate [Member] | Multifamily [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 9,366 | 4,268 |
Real Estate [Member] | Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 639 | 1,132 |
Real Estate [Member] | Multifamily [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 6,835 | 7,050 |
Real Estate [Member] | Multifamily [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 540,231 | 417,014 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 520,432 | 392,355 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 2,490 | 6,406 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 17,309 | 18,253 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 297,399 | 280,763 |
Non-Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 259,059 | 263,853 |
Non-Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 20,250 | 3,164 |
Non-Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 13,530 | 6,016 |
Non-Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 4,560 | 7,730 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 21,514 | 23,783 |
Non-Real Estate [Member] | Agricultural [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 19,050 | 20,890 |
Non-Real Estate [Member] | Agricultural [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 995 | 920 |
Non-Real Estate [Member] | Agricultural [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 1,469 | 1,973 |
Non-Real Estate [Member] | Agricultural [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 220,700 | 193,969 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 191,784 | 182,381 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 19,187 | 850 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 5,169 | 3,008 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 4,560 | 7,730 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 55,185 | 63,011 |
Non-Real Estate [Member] | Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 48,225 | 60,582 |
Non-Real Estate [Member] | Consumer and Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 68 | 1,394 |
Non-Real Estate [Member] | Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | 6,892 | 1,035 |
Non-Real Estate [Member] | Consumer and Other [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans before unearned income | $ 0 | $ 0 |
Loans, Purchased Impaired Loans (Details) $ in Thousands |
12 Months Ended |
---|---|
Dec. 31, 2017
USD ($)
| |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | $ 4,358 |
Contractual principal balance | 5,436 |
Carrying amount, net of allowance | 4,358 |
Schedule of Accretable Yield, Expected Income Collected on Purchased Loan [Roll Forward] | |
Balance, beginning of period | 0 |
Acquisition accretable yield | 1,195 |
Accretion | (164) |
Net transfers from nonaccretable difference to accretable yield | 0 |
Balance, end of period | 1,031 |
Contractually required payments of purchased impaired loans | 7,500 |
Cash flow expected to be collected at acquisition | 5,000 |
Fair value of acquired loans | 3,800 |
Real Estate [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 3,341 |
Real Estate [Member] | Construction & Land Development [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 1,135 |
Real Estate [Member] | Farmland [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 8 |
Real Estate [Member] | 1 - 4 Family [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 50 |
Real Estate [Member] | Multi-Family [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 2,148 |
Non-Real Estate [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 1,017 |
Non-Real Estate [Member] | Agricultural [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | 1,017 |
Non-Real Estate [Member] | Consumer and Other [Member] | |
Financing Receivable, Impaired [Line Items] | |
Carrying amount | $ 0 |
Allowance for Loan Losses, Summary of Changes in Allowance for Loan Losses, by Portfolio Type (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | $ 11,114 | $ 9,415 | $ 9,105 |
Charge-offs | (6,362) | (2,914) | (4,173) |
Recoveries | 651 | 908 | 619 |
Provision | 3,822 | 3,705 | 3,864 |
Ending allowance | 9,225 | 11,114 | 9,415 |
Real Estate [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 6,497 | 6,642 | 6,380 |
Charge-offs | (1,324) | (1,617) | (3,053) |
Recoveries | 260 | 466 | 150 |
Provision | 83 | 1,006 | 3,165 |
Ending allowance | 5,516 | 6,497 | 6,642 |
Real Estate [Member] | Construction & Land Development [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 1,232 | 962 | 702 |
Charge-offs | 0 | 0 | (559) |
Recoveries | 43 | 4 | 5 |
Provision | (647) | 266 | 814 |
Ending allowance | 628 | 1,232 | 962 |
Real Estate [Member] | Farmland [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 19 | 54 | 21 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision | (14) | (35) | 33 |
Ending allowance | 5 | 19 | 54 |
Real Estate [Member] | 1 - 4-family [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 1,204 | 1,771 | 2,131 |
Charge-offs | (33) | (244) | (410) |
Recoveries | 92 | 45 | 94 |
Provision | (185) | (368) | (44) |
Ending allowance | 1,078 | 1,204 | 1,771 |
Real Estate [Member] | Multi-family [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 591 | 557 | 813 |
Charge-offs | 0 | 0 | (947) |
Recoveries | 40 | 401 | 46 |
Provision | 363 | (367) | 645 |
Ending allowance | 994 | 591 | 557 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 3,451 | 3,298 | 2,713 |
Charge-offs | (1,291) | (1,373) | (1,137) |
Recoveries | 85 | 16 | 5 |
Provision | 566 | 1,510 | 1,717 |
Ending allowance | 2,811 | 3,451 | 3,298 |
Non-Real Estate [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 4,617 | 2,773 | 2,725 |
Charge-offs | (5,038) | (1,297) | (1,120) |
Recoveries | 391 | 442 | 469 |
Provision | 3,739 | 2,699 | 699 |
Ending allowance | 3,709 | 4,617 | 2,773 |
Non-Real Estate [Member] | Agricultural [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 74 | 16 | 293 |
Charge-offs | (162) | (83) | (491) |
Recoveries | 138 | 113 | 3 |
Provision | 137 | 28 | 211 |
Ending allowance | 187 | 74 | 16 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 3,543 | 2,527 | 1,797 |
Charge-offs | (3,629) | (579) | (79) |
Recoveries | 30 | 146 | 315 |
Provision | 2,433 | 1,449 | 494 |
Ending allowance | 2,377 | 3,543 | 2,527 |
Non-Real Estate [Member] | Consumer and Other [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 972 | 230 | 371 |
Charge-offs | (1,247) | (635) | (550) |
Recoveries | 223 | 183 | 151 |
Provision | 1,177 | 1,194 | 258 |
Ending allowance | 1,125 | 972 | 230 |
Non-Real Estate [Member] | Unallocated [Member] | |||
Summary of changes in allowance for loan losses, by portfolio type [Roll Forward] | |||
Beginning allowance | 28 | 0 | 264 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision | (8) | 28 | (264) |
Ending allowance | $ 20 | $ 28 | $ 0 |
Allowance for Loan Losses, Summary of Allowance and Loans Individually and Collectively Evaluated for Impairment (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
---|---|---|---|---|
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | $ 867 | $ 2,998 | ||
Allowance collectively evaluated for impairment | 8,358 | 8,116 | ||
Total allowance for credit losses | 9,225 | 11,114 | $ 9,415 | $ 9,105 |
Loans individually evaluated for impairment | 15,582 | 28,811 | ||
Loans collectively evaluated for impairment | 1,135,915 | 922,004 | ||
Total loans before unearned income | 1,151,497 | 950,815 | ||
Unearned income | (2,483) | (1,894) | ||
Total loans net of unearned income | 1,149,014 | 948,921 | ||
Financing receivable recorded investment not accruing interest | 12,600 | 21,700 | 20,000 | |
Financing receivable, recorded investment, 90 days past due and still accruing | 839 | 179 | 410 | |
Financing receivable average recorded investment nonaccrual status | 17,300 | 22,500 | 14,900 | |
Real Estate [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 236 | 419 | ||
Allowance collectively evaluated for impairment | 5,280 | 6,078 | ||
Total allowance for credit losses | 5,516 | 6,497 | 6,642 | 6,380 |
Loans individually evaluated for impairment | 8,990 | 17,308 | ||
Loans collectively evaluated for impairment | 845,108 | 652,744 | ||
Total loans before unearned income | 854,098 | 670,052 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 179 | ||
Real Estate [Member] | Construction & Land Development [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 0 | ||
Allowance collectively evaluated for impairment | 628 | 1,232 | ||
Total allowance for credit losses | 628 | 1,232 | 962 | 702 |
Loans individually evaluated for impairment | 0 | 361 | ||
Loans collectively evaluated for impairment | 112,603 | 83,878 | ||
Total loans before unearned income | 112,603 | 84,239 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 34 | ||
Real Estate [Member] | Farmland [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 0 | ||
Allowance collectively evaluated for impairment | 5 | 19 | ||
Total allowance for credit losses | 5 | 19 | 54 | 21 |
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 25,691 | 21,138 | ||
Total loans before unearned income | 25,691 | 21,138 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | ||
Real Estate [Member] | 1 - 4-family [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 8 | ||
Allowance collectively evaluated for impairment | 1,078 | 1,196 | ||
Total allowance for credit losses | 1,078 | 1,204 | 1,771 | 2,131 |
Loans individually evaluated for impairment | 0 | 1,130 | ||
Loans collectively evaluated for impairment | 158,733 | 134,081 | ||
Total loans before unearned income | 158,733 | 135,211 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 145 | ||
Real Estate [Member] | Multi-family [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 164 | ||
Allowance collectively evaluated for impairment | 994 | 427 | ||
Total allowance for credit losses | 994 | 591 | 557 | 813 |
Loans individually evaluated for impairment | 0 | 5,014 | ||
Loans collectively evaluated for impairment | 16,840 | 7,436 | ||
Total loans before unearned income | 16,840 | 12,450 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | ||
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 236 | 247 | ||
Allowance collectively evaluated for impairment | 2,575 | 3,204 | ||
Total allowance for credit losses | 2,811 | 3,451 | 3,298 | 2,713 |
Loans individually evaluated for impairment | 8,990 | 10,803 | ||
Loans collectively evaluated for impairment | 531,241 | 406,211 | ||
Total loans before unearned income | 540,231 | 417,014 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | ||
Non-Real Estate [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 631 | 2,579 | ||
Allowance collectively evaluated for impairment | 3,078 | 2,038 | ||
Total allowance for credit losses | 3,709 | 4,617 | 2,773 | 2,725 |
Loans individually evaluated for impairment | 6,592 | 11,503 | ||
Loans collectively evaluated for impairment | 290,807 | 269,260 | ||
Total loans before unearned income | 297,399 | 280,763 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 839 | 0 | ||
Non-Real Estate [Member] | Agricultural [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 66 | 11 | ||
Allowance collectively evaluated for impairment | 121 | 63 | ||
Total allowance for credit losses | 187 | 74 | 16 | 293 |
Loans individually evaluated for impairment | 861 | 1,614 | ||
Loans collectively evaluated for impairment | 20,653 | 22,169 | ||
Total loans before unearned income | 21,514 | 23,783 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 41 | 0 | ||
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 565 | 2,375 | ||
Allowance collectively evaluated for impairment | 1,812 | 1,168 | ||
Total allowance for credit losses | 2,377 | 3,543 | 2,527 | 1,797 |
Loans individually evaluated for impairment | 5,731 | 8,965 | ||
Loans collectively evaluated for impairment | 214,969 | 185,004 | ||
Total loans before unearned income | 220,700 | 193,969 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 798 | 0 | ||
Non-Real Estate [Member] | Consumer and Other [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 193 | ||
Allowance collectively evaluated for impairment | 1,125 | 779 | ||
Total allowance for credit losses | 1,125 | 972 | 230 | 371 |
Loans individually evaluated for impairment | 0 | 924 | ||
Loans collectively evaluated for impairment | 55,185 | 62,087 | ||
Total loans before unearned income | 55,185 | 63,011 | ||
Financing receivable, recorded investment, 90 days past due and still accruing | 0 | 0 | ||
Non-Real Estate [Member] | Unallocated [Member] | ||||
Summary of allowance and loans individually and collectively evaluated for impairment [Abstract] | ||||
Allowance individually evaluated for impairment | 0 | 0 | ||
Allowance collectively evaluated for impairment | 20 | 28 | ||
Total allowance for credit losses | 20 | 28 | $ 0 | $ 264 |
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 0 | 0 | ||
Total loans before unearned income | $ 0 | $ 0 |
Allowance for Loan Losses, Impaired Loans by Class (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | $ 5,771 | $ 12,014 |
Unpaid principal balance | 5,771 | 13,876 |
Average recorded investment | 5,933 | 12,457 |
Interest income recognized | 248 | 293 |
Interest income cash basis | 279 | 235 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 9,811 | 16,797 |
Unpaid principal balance | 13,552 | 17,276 |
Related allowance | 867 | 2,998 |
Average recorded investment | 12,793 | 17,461 |
Interest income recognized | 318 | 199 |
Interest income cash basis | 228 | 192 |
Total impaired loans [Abstract] | ||
Recorded investment | 15,582 | 28,811 |
Unpaid principal balance | 19,323 | 31,152 |
Related allowance | 867 | 2,998 |
Average recorded investment | 18,726 | 29,918 |
Interest income recognized | 566 | 492 |
Interest income cash basis | 507 | 427 |
Real Estate [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 5,771 | 9,725 |
Unpaid principal balance | 5,771 | 11,449 |
Average recorded investment | 5,933 | 10,356 |
Interest income recognized | 248 | 245 |
Interest income cash basis | 279 | 223 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 3,219 | 7,583 |
Unpaid principal balance | 3,570 | 7,904 |
Related allowance | 236 | 419 |
Average recorded investment | 3,555 | 7,782 |
Interest income recognized | 183 | 119 |
Interest income cash basis | 127 | 113 |
Total impaired loans [Abstract] | ||
Related allowance | 236 | 419 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 361 |
Unpaid principal balance | 0 | 823 |
Average recorded investment | 0 | 363 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 0 | 0 |
Real Estate [Member] | Farmland [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 0 | 0 |
Real Estate [Member] | 1 - 4-family [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 863 |
Unpaid principal balance | 0 | 1,196 |
Average recorded investment | 0 | 1,044 |
Interest income recognized | 0 | 49 |
Interest income cash basis | 0 | 48 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 267 |
Unpaid principal balance | 0 | 303 |
Related allowance | 0 | 8 |
Average recorded investment | 0 | 279 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 0 | 8 |
Real Estate [Member] | Multi-family [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 5,014 |
Unpaid principal balance | 0 | 5,305 |
Related allowance | 0 | 164 |
Average recorded investment | 0 | 5,169 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 0 | 164 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 5,771 | 8,501 |
Unpaid principal balance | 5,771 | 9,430 |
Average recorded investment | 5,933 | 8,949 |
Interest income recognized | 248 | 196 |
Interest income cash basis | 279 | 175 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 3,219 | 2,302 |
Unpaid principal balance | 3,570 | 2,296 |
Related allowance | 236 | 247 |
Average recorded investment | 3,555 | 2,334 |
Interest income recognized | 183 | 119 |
Interest income cash basis | 127 | 113 |
Total impaired loans [Abstract] | ||
Related allowance | 236 | 247 |
Non-Real Estate [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 2,289 |
Unpaid principal balance | 0 | 2,427 |
Average recorded investment | 0 | 2,101 |
Interest income recognized | 0 | 48 |
Interest income cash basis | 0 | 12 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 6,592 | 9,214 |
Unpaid principal balance | 9,982 | 9,372 |
Related allowance | 631 | 2,579 |
Average recorded investment | 9,238 | 9,679 |
Interest income recognized | 135 | 80 |
Interest income cash basis | 101 | 79 |
Total impaired loans [Abstract] | ||
Related allowance | 631 | 2,579 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 1,603 |
Unpaid principal balance | 0 | 1,742 |
Average recorded investment | 0 | 1,377 |
Interest income recognized | 0 | 30 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 861 | 11 |
Unpaid principal balance | 920 | 11 |
Related allowance | 66 | 11 |
Average recorded investment | 1,117 | 11 |
Interest income recognized | 70 | 0 |
Interest income cash basis | 17 | 0 |
Total impaired loans [Abstract] | ||
Related allowance | 66 | 11 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 0 |
Unpaid principal balance | 0 | 0 |
Average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Interest income cash basis | 0 | 0 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 5,731 | 8,965 |
Unpaid principal balance | 9,062 | 9,117 |
Related allowance | 565 | 2,375 |
Average recorded investment | 8,121 | 9,379 |
Interest income recognized | 65 | 72 |
Interest income cash basis | 84 | 72 |
Total impaired loans [Abstract] | ||
Related allowance | 565 | 2,375 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Impaired loans with no related allowance [Abstract] | ||
Recorded investment | 0 | 686 |
Unpaid principal balance | 0 | 685 |
Average recorded investment | 0 | 724 |
Interest income recognized | 0 | 18 |
Interest income cash basis | 0 | 12 |
Impaired loans with an allowance recorded [Abstract] | ||
Recorded investment | 0 | 238 |
Unpaid principal balance | 0 | 244 |
Related allowance | 0 | 193 |
Average recorded investment | 0 | 289 |
Interest income recognized | 0 | 8 |
Interest income cash basis | 0 | 7 |
Total impaired loans [Abstract] | ||
Related allowance | $ 0 | $ 193 |
Allowance for Loan Losses, Age Analysis of TDRs (Details) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2017
USD ($)
Contract
|
Dec. 31, 2016
USD ($)
Contract
|
|
Financing Receivable, Modifications [Line Items] | ||
Number of troubled debt restructurings | Contract | 0 | 0 |
Total TDRs | $ 2,472 | $ 3,448 |
Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 334 | 461 |
Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,138 | 2,987 |
30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,472 | 3,448 |
Real Estate [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 334 | 461 |
Real Estate [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,138 | 2,987 |
Real Estate [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 334 | 361 |
Real Estate [Member] | Construction & Land Development [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 334 | 361 |
Real Estate [Member] | Construction & Land Development [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Construction & Land Development [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Farmland [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Farmland [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Farmland [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | 1 - 4-family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | 1 - 4-family [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | 1 - 4-family [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | 1 - 4-family [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,138 | 3,087 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 100 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 2,138 | 2,987 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | Current and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | 30-89 Days Past Due and Still Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | $ 0 | $ 0 |
Allowance for Loan Losses, TDR Activity (Details) $ in Thousands |
12 Months Ended |
---|---|
Dec. 31, 2017
USD ($)
| |
TDR activity [Roll Forward] | |
Beginning balance | $ 3,448 |
New TDRs | 0 |
Charge-offs post-modification | (102) |
Transferred to ORE | 0 |
Paydowns | (876) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 2 |
Ending balance | 2,472 |
Real Estate [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 3,448 |
New TDRs | 0 |
Charge-offs post-modification | (102) |
Transferred to ORE | 0 |
Paydowns | (876) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 2 |
Ending balance | 2,472 |
Real Estate [Member] | Construction & Land Development [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 361 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | (27) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 334 |
Real Estate [Member] | Farmland [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 0 |
Real Estate [Member] | 1 - 4-family [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 0 |
Real Estate [Member] | Multifamily [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 3,087 |
New TDRs | 0 |
Charge-offs post-modification | (102) |
Transferred to ORE | 0 |
Paydowns | (849) |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 2 |
Ending balance | 2,138 |
Non-Real Estate [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 0 |
Non-Real Estate [Member] | Agricultural [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | |
TDR activity [Roll Forward] | |
Beginning balance | 0 |
New TDRs | 0 |
Charge-offs post-modification | 0 |
Transferred to ORE | 0 |
Paydowns | 0 |
Construction to permanent financing | 0 |
Restructured to market terms | 0 |
Other adjustments | 0 |
Ending balance | $ 0 |
Premises and Equipment (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Property, Plant and Equipment [Line Items] | |||
Acquired value | $ 69,031 | $ 52,209 | |
Less: accumulated depreciation | 31,011 | 28,690 | |
Net book value | 38,020 | 23,519 | |
Depreciation expense | 1,800 | 1,700 | $ 1,600 |
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Acquired value | 12,875 | 7,185 | |
Bank Premises [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Acquired value | 31,469 | 21,229 | |
Furniture and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Acquired value | 24,305 | 21,689 | |
Construction in Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Acquired value | $ 382 | $ 2,106 |
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Goodwill and Other Intangible Assets [Abstract] | |||
Impairment charges recognized on the Company's intangible assets | $ 0 | ||
Goodwill | 3,472 | $ 1,999 | |
Finite-lived Intangible Assets [Roll Forward] | |||
Gross Carrying Amount | 13,426 | 9,617 | |
Accumulated Amortization | 9,002 | 8,561 | |
Net Carrying Amount | 4,424 | 1,056 | |
Amortization expense | 400 | 300 | $ 300 |
Amortization expense of core deposit intangible assets for next five years [Abstract] | |||
December 31, 2018 | 545 | ||
December 31, 2019 | 361 | ||
December 31, 2020 | 361 | ||
December 31, 2021 | 293 | ||
December 31, 2022 | 225 | ||
Core Deposits Intangibles [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Gross Carrying Amount | 12,053 | 9,350 | |
Accumulated Amortization | 8,804 | 8,372 | |
Net Carrying Amount | $ 3,249 | 978 | |
Weighted-average amortization | 9 years 8 months 12 days | ||
Mortgage Servicing Rights [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Gross Carrying Amount | $ 1,373 | 267 | |
Accumulated Amortization | 198 | 189 | |
Net Carrying Amount | $ 1,175 | $ 78 |
Other Real Estate (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Real Estate Owned Acquired by Foreclosure [Abstract] | ||
Residential | $ 23 | $ 71 |
Construction & land development | 304 | 0 |
Non-farm non-residential | 954 | 288 |
Total Other Real Estate Owned and Foreclosed Property | $ 1,281 | $ 359 |
Deposits (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Maturities of time deposits [Abstract] | ||
2018 | $ 357,687 | |
2019 | 118,902 | |
2020 | 48,843 | |
2021 | 16,622 | |
2022 and thereafter | 39,277 | |
Total | 581,331 | $ 517,997 |
Brokered deposits | 9,800 | |
Aggregate amount of time deposits in denominations of $250,000 or more | $ 266,200 | $ 241,400 |
Borrowings, Short-term Borrowings (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Short-term borrowings [Abstract] | |||
Federal Home Loan Bank Advances | $ 15,500 | $ 6,500 | |
Line of credit | 0 | 0 | |
Total short-term borrowings | 15,500 | 6,500 | $ 1,800 |
Available lines of credit including FHLB | 150,800 | 133,700 | |
Schedule of certain information short-term borrowings [Abstract] | |||
Outstanding at year end | 15,500 | 6,500 | 1,800 |
Maximum month-end outstanding | 28,000 | 25,000 | 13,800 |
Average daily outstanding | $ 5,833 | $ 8,775 | $ 4,217 |
Weighted average rate during the year | 1.06% | 0.85% | 2.12% |
Weighted average rate at year end | 1.51% | 0.65% | 4.50% |
Borrowings, Long-term Debt (Details) - USD ($) |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Debt Instrument [Line Items] | ||||
Long-term debt outstanding | $ 37,400,000 | |||
Net proceeds from issuance of long term debt | 3,750,000 | $ 0 | $ 24,969,000 | |
First Guaranty Bancshares, Inc. [Member] | ||||
Debt Instrument [Line Items] | ||||
Net proceeds from issuance of long term debt | 3,750,000 | 0 | 24,969,000 | |
Payments to Acquire Additional Interest in Subsidiaries | $ 3,750,000 | 3,750,000 | 0 | $ 0 |
Senior Long-term Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt outstanding | $ 22,774,000 | |||
Debt instrument, face amount | 25,000,000 | |||
Net proceeds from issuance of long term debt | $ 3,750,000 | |||
Senior Long-term Debt [Member] | Wall Street Journal Prime Rate [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 0.75% | |||
Interest rate | 4.75% | |||
Long-term debt outstanding | $ 0 | 300,000 | ||
Periodic principal payment | $ 50,000 | |||
Principal payment frequency | monthly | |||
Debt maturity date | May 12, 2017 | |||
Percentage of interest used in secured pledge borrowings | 13.20% | |||
Number of shares used in secured pledge borrowings (in shares) | 735,745 | |||
Senior Long-term Debt [Member] | Floating 3-Month LIBOR [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 2.50% | |||
Interest rate | 3.87% | |||
Long-term debt outstanding | $ 22,800,000 | 21,800,000 | ||
Periodic principal payment | $ 735,294 | |||
Principal payment frequency | quarterly | |||
Debt maturity date | Dec. 22, 2020 | |||
Percentage of interest used in secured pledge borrowings | 85.00% | |||
Number of shares used in secured pledge borrowings (in shares) | 4,823,899 | |||
Junior Subordinated Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt outstanding | $ 14,664,000 | |||
Junior Subordinated Debt [Member] | Wall Street Journal Prime Rate [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 0.75% | |||
Interest rate | 4.00% | |||
Long-term debt outstanding | $ 14,700,000 | $ 14,600,000 | ||
Debt maturity date | Dec. 21, 2025 | |||
Junior Subordinated Debt [Member] | Wall Street Journal Prime Rate [Member] | Fixed Interest Rate Period [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal payment frequency | semi-annually | |||
Junior Subordinated Debt [Member] | Wall Street Journal Prime Rate [Member] | Floating Interest Rate Period [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal payment frequency | quarterly |
Borrowings, Line of Credit and Letters of Credit (Details) - USD ($) $ in Millions |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Line of Credit Facility [Line Items] | ||
Line of credit facility, remaining borrowing capacity | $ 150.8 | $ 133.7 |
Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit facility, maximum borrowing capacity | 6.5 | |
Line of credit facility, remaining borrowing capacity | $ 6.5 | |
Line of credit facility, interest rate | 4.50% | |
Federal Home Loan Bank (FHLB) [Member] | Letters of Credit [Member] | ||
Line of Credit Facility [Line Items] | ||
Letters of credit amount at FHLB | $ 294.2 | $ 226.1 |
Borrowings, Obligations on Long-term Debt (Details) $ in Thousands |
Dec. 31, 2017
USD ($)
|
---|---|
Obligations on senior long-term debt and junior subordinated debentures [Abstract] | |
Total | $ 37,400 |
Senior Long-term Debt [Member] | |
Obligations on senior long-term debt and junior subordinated debentures [Abstract] | |
2018 | 2,941 |
2019 | 2,941 |
2020 | 2,941 |
2021 | 2,941 |
2022 | 2,941 |
2023 and thereafter | 8,089 |
Subtotal | 22,794 |
Debt issuance costs | (20) |
Total | 22,774 |
Junior Subordinated Debentures [Member] | |
Obligations on senior long-term debt and junior subordinated debentures [Abstract] | |
2018 | 0 |
2019 | 0 |
2020 | 0 |
2021 | 0 |
2022 | 0 |
2023 and thereafter | 15,000 |
Subtotal | 15,000 |
Debt issuance costs | (336) |
Total | $ 14,664 |
Capital Requirements (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conservation percentage | 4.14% | |
Total Risk-based Capital, Amount [Abstract] | ||
Actual Amount | $ 164,545 | $ 151,877 |
Minimum Capital Requirement | $ 108,427 | $ 94,982 |
Total Risk-based Capital, Ratio [Abstract] | ||
Actual Ratio | 12.14% | 12.79% |
Minimum Capital Requirement | 8.00% | 8.00% |
Tier 1 Capital, Amount [Abstract] | ||
Actual Amount | $ 140,320 | $ 125,763 |
Minimum Capital Requirement | $ 81,320 | $ 71,236 |
Tier 1 Capital, Ratio [Abstract] | ||
Actual Ratio | 10.35% | 10.59% |
Minimum Capital Requirement | 6.00% | 6.00% |
Tier 1 Leverage Capital, Amount [Abstract] | ||
Actual Amount | $ 140,320 | $ 125,763 |
Minimum Capital Requirement | $ 67,899 | $ 57,930 |
Tier 1 Leverage Capital, Ratio [Abstract] | ||
Actual Ratio | 8.27% | 8.68% |
Minimum Capital Requirement | 4.00% | 4.00% |
Common Equity Tier One Capital, Amount [Abstract] | ||
Actual Amount | $ 140,320 | $ 125,763 |
Minimum Capital Requirement | $ 60,990 | $ 53,427 |
Common Equity Tier One Capital, Ratio [Abstract] | ||
Actual Ratio | 10.35% | 10.59% |
Minimum Capital Requirement | 4.50% | 4.50% |
Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conservation percentage | 5.07% | |
Total Risk-based Capital, Amount [Abstract] | ||
Actual Amount | $ 176,398 | $ 153,768 |
Minimum Capital Requirement | 107,961 | 94,717 |
Minimum to be Well Capitalized Under Action Provisions | $ 134,951 | $ 118,396 |
Total Risk-based Capital, Ratio [Abstract] | ||
Actual Ratio | 13.07% | 12.99% |
Minimum Capital Requirement | 8.00% | 8.00% |
Minimum to be Well Capitalized Under Action Provisions | 10.00% | 10.00% |
Tier 1 Capital, Amount [Abstract] | ||
Actual Amount | $ 167,173 | $ 142,654 |
Minimum Capital Requirement | 80,971 | 71,038 |
Minimum to be Well Capitalized Under Action Provisions | $ 107,961 | $ 94,717 |
Tier 1 Capital, Ratio [Abstract] | ||
Actual Ratio | 12.39% | 12.05% |
Minimum Capital Requirement | 6.00% | 6.00% |
Minimum to be Well Capitalized Under Action Provisions | 8.00% | 8.00% |
Tier 1 Leverage Capital, Amount [Abstract] | ||
Actual Amount | $ 167,173 | $ 142,654 |
Minimum Capital Requirement | 67,709 | 57,771 |
Minimum to be Well Capitalized Under Action Provisions | $ 84,636 | $ 72,214 |
Tier 1 Leverage Capital, Ratio [Abstract] | ||
Actual Ratio | 9.88% | 9.88% |
Minimum Capital Requirement | 4.00% | 4.00% |
Minimum to be Well Capitalized Under Action Provisions | 5.00% | 5.00% |
Common Equity Tier One Capital, Amount [Abstract] | ||
Actual Amount | $ 167,173 | $ 142,654 |
Minimum Capital Requirement | 60,728 | 53,278 |
Minimum to be Well Capitalized Under Action Provisions | $ 87,718 | $ 76,958 |
Common Equity Tier One Capital, Ratio [Abstract] | ||
Actual Ratio | 12.39% | 12.05% |
Minimum Capital Requirement | 4.50% | 4.50% |
Minimum to be Well Capitalized Under Action provisions | 6.50% | 6.50% |
Dividend Restrictions (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2017
USD ($)
| |
Dividend Restrictions [Abstract] | |
Percentage of outstanding capital stock, maximum | 50.00% |
Undistributed earnings | $ 3.2 |
Restricted investments | $ 167.6 |
Related Party Transactions (Details) - USD ($) |
12 Months Ended | |||
---|---|---|---|---|
Dec. 21, 2015 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Related party activity of loans [Abstract] | ||||
Balance, beginning of year | $ 58,279,000 | $ 57,816,000 | ||
Net Increase | 24,639,000 | 463,000 | ||
Balance, end of year | 82,918,000 | 58,279,000 | $ 57,816,000 | |
Directors and Executive Officers [Member] | ||||
Related party activity of loans [Abstract] | ||||
Deposit from related party | 24,600,000 | |||
Directors and Executive Officers [Member] | Unfunded Loan Commitment [Member] | ||||
Related party activity of loans [Abstract] | ||||
Balance, beginning of year | 24,900,000 | |||
Balance, end of year | 17,500,000 | 24,900,000 | ||
Champion Industries, Inc. [Member] | ||||
Related party activity of loans [Abstract] | ||||
Expenses from transactions with related party | $ 400,000 | 300,000 | 200,000 | |
Edgar Ray Smith III [Member] | Subordinated Debt [Member] | ||||
Related party activity of loans [Abstract] | ||||
Debt instrument, face amount | $ 15,000,000 | |||
Debt instrument, term | 10 years | |||
Interest amount | $ 600,000 | 600,000 | ||
Edgar Ray Smith III [Member] | Subordinated Debt [Member] | Fixed Interest Rate Period [Member] | ||||
Related party activity of loans [Abstract] | ||||
Debt instrument, term | 5 years | |||
Debt instrument, non-callable term | 5 years | |||
Debt instrument, interest rate | 4.00% | |||
Edgar Ray Smith III [Member] | Subordinated Debt [Member] | Floating Interest Rate Period [Member] | ||||
Related party activity of loans [Abstract] | ||||
Debt instrument, term | 5 years | |||
Edgar Ray Smith III [Member] | Subordinated Debt [Member] | Floating Interest Rate Period [Member] | Wall Street Journal Prime Rate [Member] | ||||
Related party activity of loans [Abstract] | ||||
Debt instrument, basis spread on variable rate | 0.75% | |||
Gasaway Gasaway Bankston [Member] | ||||
Related party activity of loans [Abstract] | ||||
Expenses from transactions with related party | $ 200,000 | $ 300,000 | $ 200 |
Employee Benefit Plans (Details) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Employee Benefit Plans [Abstract] | |||
Deferment percentage of base salary, minimum | 1.00% | ||
Deferment percentage of base salary, maximum | 20.00% | ||
Employer matching contribution | 6.00% | ||
Maximum employer matching contribution percentage | 100.00% | ||
Contributions to savings plan | $ 240,000 | $ 191,000 | $ 86,000 |
Contributions made to ESOP | $ 0 | $ 0 | $ 0 |
Shares held under ESOP (in shares) | 15,530 |
Other Expenses (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Other noninterest expense [Abstract] | |||
Legal and professional fees | $ 3,037 | $ 2,185 | $ 2,019 |
Data processing | 1,608 | 1,259 | 1,184 |
ATM Fees | 1,161 | 1,044 | 1,022 |
Marketing and public relations | 1,205 | 878 | 848 |
Taxes - sales, capital and franchise | 970 | 787 | 717 |
Operating supplies | 496 | 471 | 414 |
Software expense and amortization | 923 | 835 | 612 |
Travel and lodging | 910 | 710 | 818 |
Telephone | 167 | 177 | 172 |
Amortization of core deposits | 432 | 320 | 320 |
Donations | 322 | 298 | 332 |
Net costs from other real estate and repossessions | 306 | 498 | 493 |
Regulatory assessment | 726 | 1,005 | 1,111 |
Other | 1,640 | 1,599 | 1,692 |
Total other noninterest expense | 13,903 | 12,066 | 11,754 |
Advertising expense | $ 700 | $ 600 | $ 600 |
Income Taxes (Details) - USD ($) |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
||||
Summary of provision for income taxes [Abstract] | |||||||
Current | $ 4,638,000 | $ 8,168,000 | $ 7,347,000 | ||||
Deferred | 2,761,000 | (1,004,000) | (384,000) | ||||
Total | $ 7,399,000 | $ 7,164,000 | $ 6,963,000 | ||||
Effective income tax rate reconciliation [Abstract] | |||||||
Statutory tax rate | 35.00% | 35.00% | 35.00% | ||||
Federal income taxes at statutory rate | $ 6,703,000 | $ 7,440,000 | $ 7,514,000 | ||||
Tax exempt municipal income | (254,000) | (283,000) | (436,000) | ||||
Other | 950,000 | [1] | 7,000 | (115,000) | |||
Total | 7,399,000 | 7,164,000 | 6,963,000 | ||||
Estimated net impact from remeasurement of deferred tax assets and liabilities | 900,000 | ||||||
Deferred tax assets [Abstract] | |||||||
Allowance for loan losses | 1,804,000 | 3,890,000 | |||||
Other real estate owned | 25,000 | 60,000 | |||||
Unrealized losses on available for sale securities | 495,000 | 2,060,000 | |||||
Net operating loss | 1,463,000 | 0 | |||||
Other | 546,000 | 449,000 | |||||
Gross deferred tax assets | 4,333,000 | 6,459,000 | |||||
Deferred tax liabilities [Abstract] | |||||||
Depreciation and amortization | (1,688,000) | (1,480,000) | |||||
Core deposit intangibles | (662,000) | (342,000) | |||||
Unrealized gains on available for sale securities | 0 | 0 | |||||
Other | (566,000) | (376,000) | |||||
Gross deferred tax liabilities | (2,916,000) | (2,198,000) | |||||
Net deferred tax assets | 1,417,000 | 4,261,000 | |||||
Operating Loss Carryforwards [Line Items] | |||||||
Net operating loss carryforwards | 7,000 | 0 | |||||
Income tax uncertainties [Abstract] | |||||||
Income tax penalties expense | 0 | 0 | 0 | ||||
Interest on income taxes expense | 0 | 0 | 0 | ||||
Income tax penalties accrued | 0 | 0 | 0 | ||||
Interest on income taxes accrued | $ 0 | $ 0 | $ 0 | ||||
Earliest Tax Year [Member] | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Expiration date | Dec. 31, 2027 | ||||||
Latest Tax Year [Member] | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Expiration date | Dec. 31, 2034 | ||||||
Plan [Member] | |||||||
Effective income tax rate reconciliation [Abstract] | |||||||
Statutory tax rate | 21.00% | ||||||
|
Commitments and Contingencies (Details) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Extension period of majority of short-term borrowing | 1 year | ||
Maximum extension period of short-term borrowing | 3 years | ||
Losses incurred on off-balance sheet commitments | $ 0 | $ 0 | $ 0 |
Commitments to Extend Credit [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Notional value | 78,125,000 | 56,910,000 | |
Unfunded Commitment under Lines of Credit [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Notional value | 101,344,000 | 128,428,000 | |
Commercial and Standby Letters of Credit [Member] | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |||
Notional value | $ 7,886,000 | $ 6,602,000 |
Fair Value Measurements (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | $ 381,535 | $ 397,473 |
Reconciliation assets measured at fair value on a recurring basis using unobservable inputs (Level 3) [Roll Forward] | ||
Balance, beginning of year | 19,400 | 7,701 |
Total gains or losses (realized/unrealized) [Abstract] | ||
Included in earnings | 54 | 0 |
Included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | 10,574 | 11,699 |
Transfers in and/or out of Level 3 | (23,495) | 0 |
Balance as of end of year | 6,533 | 19,400 |
Level 1: Quoted Prices in Active Markets For Identical Assets [Member] | Treasury Bills [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Net decrease in available for sale securities | (10,500) | |
Recurring Basis [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 381,535 | 397,473 |
Recurring Basis [Member] | Level 1: Quoted Prices in Active Markets For Identical Assets [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 19,980 | 30,487 |
Recurring Basis [Member] | Level 2: Significant Other Observable Inputs [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 355,022 | 347,586 |
Recurring Basis [Member] | Level 3: Significant Unobservable Inputs [Member] | ||
Assets measured on recurring basis [Abstract] | ||
Securities available for sale measured at fair value | 6,533 | 19,400 |
Non-Recurring Basis [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 12,003 | 18,818 |
Other real estate owned measured at fair value | 1,281 | 359 |
Non-Recurring Basis [Member] | Level 1: Quoted Prices in Active Markets For Identical Assets [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 0 | 0 |
Other real estate owned measured at fair value | 0 | 0 |
Non-Recurring Basis [Member] | Level 2: Significant Other Observable Inputs [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 0 | 259 |
Other real estate owned measured at fair value | 1,249 | 226 |
Non-Recurring Basis [Member] | Level 3: Significant Unobservable Inputs [Member] | ||
Assets measured on a nonrecurring basis [Abstract] | ||
Impaired loans measured at fair value | 12,003 | 18,559 |
Other real estate owned measured at fair value | $ 32 | $ 133 |
Financial Instruments (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|
Assets [Abstract] | ||
Securities available for sale measured at fair value | $ 381,535 | $ 397,473 |
Securities, held to maturity | 118,557 | 99,906 |
Accrued interest receivable | 7,982 | 7,039 |
Carrying Value [Member] | ||
Assets [Abstract] | ||
Cash and cash equivalents | 38,028 | 18,111 |
Securities available for sale measured at fair value | 381,535 | 397,473 |
Securities, held to maturity | 120,121 | 101,863 |
Federal Home Loan Bank stock | 2,351 | 1,816 |
Loans held for sale | 1,308 | 0 |
Loans, net | 1,139,789 | 937,807 |
Accrued interest receivable | 7,982 | 7,039 |
Liabilities [Abstract] | ||
Deposits | 1,549,286 | 1,326,181 |
Borrowings | 38,274 | 28,600 |
Junior subordinated debentures | 14,664 | 14,630 |
Accrued interest payable | 2,488 | 1,931 |
Estimated Fair Value [Member] | ||
Assets [Abstract] | ||
Cash and cash equivalents | 38,028 | 18,111 |
Securities available for sale measured at fair value | 381,535 | 397,473 |
Securities, held to maturity | 118,557 | 99,906 |
Federal Home Loan Bank stock | 2,351 | 1,816 |
Loans held for sale | 1,439 | 0 |
Loans, net | 1,133,868 | 937,495 |
Accrued interest receivable | 7,982 | 7,039 |
Liabilities [Abstract] | ||
Deposits | 1,549,449 | 1,325,972 |
Borrowings | 38,294 | 28,625 |
Junior subordinated debentures | 14,324 | 13,909 |
Accrued interest payable | $ 2,488 | $ 1,931 |
Concentrations of Credit and Other Risks (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2017
USD ($)
Deposit
| |
Concentrations of Credit and Other Risks [Abstract] | |
Commercial and standby letters of credit | $ 10.0 |
Percentage of entity deposits | 41.40% |
Number of deposits of depositing authorities | Deposit | 1 |
Public fund deposits | $ 640.7 |
Condensed Parent Company Information, Condensed Balance Sheets (Details) - USD ($) $ in Thousands |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
[1] | ||
---|---|---|---|---|---|---|---|
Assets [Abstract] | |||||||
Available for sale, at fair value | $ 381,535 | $ 397,473 | |||||
Other assets | 12,119 | 9,904 | |||||
Total Assets | 1,750,430 | 1,500,946 | |||||
Liabilities and Shareholders' Equity [Abstract] | |||||||
Short-term debt | 15,500 | 6,500 | $ 1,800 | ||||
Senior long-term debt | 22,774 | 22,100 | |||||
Junior subordinated debentures | 14,664 | 14,630 | |||||
Other liabilities | 1,735 | 5,255 | |||||
Total Liabilities | 1,606,447 | 1,376,597 | |||||
Shareholders' Equity | 143,983 | 124,349 | $ 118,224 | $ 139,583 | |||
Total Liabilities and Shareholders' Equity | 1,750,430 | 1,500,946 | |||||
First Guaranty Bancshares, Inc. [Member] | |||||||
Assets [Abstract] | |||||||
Cash | 5,214 | 16,088 | |||||
Investment in bank subsidiary | 170,836 | 141,241 | |||||
Available for sale, at fair value | 0 | 80 | |||||
Other assets | 6,086 | 4,197 | |||||
Total Assets | 182,136 | 161,606 | |||||
Liabilities and Shareholders' Equity [Abstract] | |||||||
Short-term debt | 0 | 0 | |||||
Senior long-term debt | 22,774 | 22,100 | |||||
Junior subordinated debentures | 14,664 | 14,630 | |||||
Other liabilities | 715 | 527 | |||||
Total Liabilities | 38,153 | 37,257 | |||||
Shareholders' Equity | 143,983 | 124,349 | |||||
Total Liabilities and Shareholders' Equity | $ 182,136 | $ 161,606 | |||||
|
Condensed Parent Company Information, Condensed Statements of Income (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2015 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Operating Income [Abstract] | ||||
Net gains on securities | $ 2,700 | $ 1,397 | $ 3,799 | $ 3,300 |
Operating Expenses [Abstract] | ||||
Interest expense | 14,393 | 10,140 | 8,608 | |
Salaries & Benefits | 20,113 | 16,577 | 15,496 | |
Income Before Income Taxes | 19,150 | 21,257 | 21,468 | |
Income tax benefit (expense) | (7,399) | (7,164) | (6,963) | |
Net Income | 11,751 | 14,093 | 14,505 | |
Less preferred stock dividends | 0 | 0 | (384) | |
Income Available to Common Shareholders | 11,751 | 14,093 | 14,121 | |
First Guaranty Bancshares, Inc. [Member] | ||||
Operating Income [Abstract] | ||||
Dividends received from bank subsidiary | 10,622 | 11,858 | 9,843 | |
Net gains on securities | 54 | 0 | 2,652 | |
Other income | 171 | 160 | 261 | |
Total operating income | 10,847 | 12,018 | 12,756 | |
Operating Expenses [Abstract] | ||||
Interest expense | 1,518 | 1,444 | 192 | |
Salaries & Benefits | 495 | 200 | 172 | |
Other expenses | 1,147 | 948 | 766 | |
Total operating expenses | 3,160 | 2,592 | 1,130 | |
Income Before Income Taxes | 7,687 | 9,426 | 11,626 | |
Income tax benefit (expense) | 834 | 846 | (605) | |
Income before increase in equity in undistributed earnings of subsidiary | 8,521 | 10,272 | 11,021 | |
Increase in equity in undistributed earnings of subsidiary | 3,230 | 3,821 | 3,484 | |
Net Income | 11,751 | 14,093 | 14,505 | |
Less preferred stock dividends | 0 | 0 | (384) | |
Income Available to Common Shareholders | $ 11,751 | $ 14,093 | $ 14,121 |
Condensed Parent Company Information, Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Cash flows from operating activities [Abstract] | ||||
Net income | $ 11,751 | $ 14,093 | $ 14,505 | |
Adjustments to reconcile net income to net cash provided by operating activities [Abstract] | ||||
Depreciation and amortization | 2,444 | 2,190 | 1,995 | |
Gain on sale of securities | (1,397) | (3,799) | (3,300) | |
Net Cash Provided By Operating Activities | 12,275 | 22,212 | 17,215 | |
Cash flows from investing activities [Abstract] | ||||
Proceeds from maturities, calls and sales of AFS securities | 542,894 | 1,000,905 | 723,249 | |
Funds invested in AFS securities | (517,185) | (1,024,632) | (650,698) | |
Net Cash (Used In) Provided By Investing Activities | (82,996) | (67,784) | 47,207 | |
Cash flows from financing activities [Abstract] | ||||
Net decrease in short-term borrowings | (700) | 4,700 | 0 | |
Proceeds from long-term debt, net of costs | 3,750 | 0 | 24,969 | |
Repayment of long-term debt | (3,081) | (3,730) | (600) | |
Proceeds from junior subordinated debentures, net of costs | 0 | 0 | 14,597 | |
Issuance of common stock, net of costs | 0 | 0 | 9,344 | |
Redemption of preferred stock | 0 | 0 | (39,435) | |
Dividends paid | (5,210) | (4,870) | (4,631) | |
Net Cash Provided By (Used in) Financing Activities | 90,638 | 26,411 | (71,725) | |
Net Increase (Decrease In) Cash and Cash Equivalents | 19,917 | (19,161) | (7,303) | |
Cash and Cash Equivalents at the Beginning of the Period | 18,111 | 37,272 | 44,575 | |
Cash and Cash Equivalents at the End of the Period | 38,028 | 18,111 | 37,272 | |
First Guaranty Bancshares, Inc. [Member] | ||||
Cash flows from operating activities [Abstract] | ||||
Net income | 11,751 | 14,093 | 14,505 | |
Adjustments to reconcile net income to net cash provided by operating activities [Abstract] | ||||
Increase in equity in undistributed earnings of subsidiary | (3,230) | (3,821) | (3,484) | |
Depreciation and amortization | 43 | 7 | 0 | |
Gain on sale of securities | (54) | 0 | (2,652) | |
Net change in other liabilities | 187 | 318 | (28) | |
Net change in other assets | (1,306) | (971) | 396 | |
Net Cash Provided By Operating Activities | 7,391 | 9,626 | 8,737 | |
Cash flows from investing activities [Abstract] | ||||
Proceeds from maturities, calls and sales of AFS securities | 134 | 0 | 4,152 | |
Funds invested in AFS securities | 0 | 0 | (10) | |
Funds invested in bank subsidiary | $ (3,750) | (3,750) | 0 | 0 |
Cash paid in acquisition | (10,108) | 0 | 0 | |
Net Cash (Used In) Provided By Investing Activities | (13,724) | 0 | 4,142 | |
Cash flows from financing activities [Abstract] | ||||
Net decrease in short-term borrowings | 0 | (1,800) | 0 | |
Proceeds from long-term debt, net of costs | 3,750 | 0 | 24,969 | |
Repayment of long-term debt | (3,081) | (3,730) | (1,584) | |
Proceeds from junior subordinated debentures, net of costs | 0 | 0 | 14,597 | |
Issuance of common stock, net of costs | 0 | 0 | 9,344 | |
Redemption of preferred stock | 0 | 0 | (39,435) | |
Dividends paid | (5,210) | (4,870) | (4,631) | |
Net Cash Provided By (Used in) Financing Activities | (4,541) | (10,400) | 3,260 | |
Net Increase (Decrease In) Cash and Cash Equivalents | (10,874) | (774) | 16,139 | |
Cash and Cash Equivalents at the Beginning of the Period | 16,088 | 16,862 | 723 | |
Cash and Cash Equivalents at the End of the Period | $ 5,214 | $ 16,088 | $ 16,862 |
7&^@HKVXM*XQF>R._<>CNV'1?WC?O/Q@
M\E2U*MH);6Y1=]<=A=#<'"6Y,V$]FWYI7-3\J.VT,'/9-PW]0HMN:(C0V)6M
M_@%02P,$% @ :5YP3, 2LZ\,!0 \A@ !@ !X;"]W;W)K WR#T VNA9-)8 NU>F2R5H!$*-8 ,9:
M+03J\P.A@"[3Z=)INI.0S2ADR!5+.&& :Z!S9=-<)R&;4 $4P$+.2:](
MF*7$VD1C$B+)0L$HD4B8-RA,< N.9I+A#-PB(S5E4\8/0)'+,2KVX( F&=%R
MKR 9JLDS96&1Q 4.)BKD3#BF20:UW"X&T,@D]B:7NRG A6@,6VR2Q21A3<6.
M,8"N?ZJ8V"6 7.\88U,PV5A$-EJNHR0[$[(=BPG"UN0[ V@4MI'+#1V@7$\"
MBCF8;"PBFZ ,@>G!\@2G8'JP**\03I%)0R OG )2"Y,T%K>8:RS@&J,Y%M.#
M31.\@L/9HCU:>$6&J0^A=(H$14[8&(<#V:% +NG.@2@E2ZZ<)(!+SB=EMW8X
MGIV,9\EV3J8%O477DSE8)'')6[62P?3@4/Y0DMT ND5V .*4!>R4H@JQC+*_
M. '^<4!?C$*]WO,"GY"#>!Q&/N:&L#+\+0E: E 3C4&1[!'
M$2P. &1X6NZSNM(< #,Q:P;A0/8RD"7)>9 N<,C"( C @1@R"@4QYA<&)"+418\8TK@"3D_XR#FFIR?
M03;O75DH0E36G()#F&M..1D<,##;7)XP()RC2,H^PLHY9]5!)\@".$57YG((
MY[BG.L4D3 Y<<];)LMHHB0Y 2"L[&9,, Y)A[6XP-?"$?@K@
05HSO=F^8%M+0,D^^LRUS'+R2!LZ6N$%K87^=0.%8
MT#U]<3S*MO/1PPG0=[8
M_$\X ]5PXT37*#B5]M-T_,[^Q2:ODWFADJUY\Z?>J>,R+,)@Q_;TW*AG?OW*AH32,!BR_\XNK-%P
MHT3'V/)&VM]@>Y:*MP.+EM+2M_Y;=_9['?C?W6 '/#C@T0%EGSJ0P8%\."2?
M.B2#0^(X1'TJMC8;JNAJ(?@U$/WRGJC91>@AT=7?&J,MMOU/ET=JZV6%,%E$
M%T,T8*H>@Z>8$1%I]C$$AD)4V'/'MP'6/H+$MY"-#RE26 0!\R36G]SDF< $
M"4B06()D2H#<0O68S&*Z 9.GR,D60"5QZ7!M(%0:S^2<@I)3(.<9@@PDR/R<
M<>;DW&/2B!VA0>0,@AA&K\6
M3;J,3M^57]4ZP=:[D(!P]&_NQKWQ7TCI(:&C%*_VBFS[#47OA1=E;G$D=NI]+^(3[X\\]*:*
MSM2*=!?$N^"]EN]N4/PHDB,S@2,_6^%^&)]P?N>U,&9VQ%
MO//BK?=>"IXF&;L$HCGF.,7P5
?4G!MU(<^7]PO@U/-A4F$9[\I3#=
M)D@W"=)(D'Y8XE;,]3])V*JG"DP3I\F2$@<=)WGE70;V+CXB^Q,^3?M789I.
M6W)&YU\V]K]&=."E[*[\"+7^@RV&A-J%XR=_-M.838;#?OY!;/G&Q6]02P,$
M% @ :5YP3);3^R6U 0 T@, !D !X;"]W;W)K
H?=6
M\/1#QFY!:,:<)PQ?878+@J'Z$H)OA3CS5W2^3=]O9KB/]/V:?DBV!=)-@30*
MI&^6N($Y_%\D6_54@VWB-#E2FJ&+D[SR+@-[S^.;_(-/T_Y-V$9VCER-QY>-
M_:^-\8"I)'
VE>M,U
M@"'O@K
]#C-YCKV6,T%_\#
MKB \/&3B8U1:V+BB:K!.RUG%IR+9Z[1S%?=QNDD_S[1M IT)="$<8APR!8J9
M?V&.E;G1(S)3[WL6GGAWI+XW57#&5L0[G[SUWFN9'M*<7(/0C#E-&+K"[!8$
M\>I+"+H5XD3_H]-M>KJ981KIZ9J^3[8%LDV!+ ID_Y28?2AQ"[/_$(2L>BK!
MM'&:+*KTH.(DK[S+P-[1^";O\&G:?S+3F\U)H.%KB.J6X?3^ -'U&
MU_02>!)UXT. Y6G+:_@)_E=[M.BQ2:44"K031A,+54;OU_O#-N CX%E [V8V
M"9V X(\%_E3@[^X6!&-!L"K
M YF)^D(DR1+.>H'ZLC^DQX^T"]S%Q/FG=GUE1:H69O6?@4)OBFC4;-8=#X
M"TVTU!QMFGC28,4P@?A6$-\8!#,#W]O9#0*K06 ,P@7!XRK)H(F-IC4:=Y7C
MGF(!$5HA0@O$;@4Q:*+9%MX*XIYB 1%9(2(+Q-,*(MKD]"-7/2N2_\H6.+$5
M)][@1.M]#O%FG]BUX&QEX18&S\Z^OHM^$'ZI6^&
>"NVLOB=[]5I[6>^
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M$N)6"1=H:D'C9@F+F,,-Q&%*LD!5"YID