Indiana | 35-1547518 | |
(State or other jurisdiction of | (I.R.S. Employer | |
incorporation or organization) | Identification No.) |
Large accelerated filer ¨ | Accelerated filer x | Non-accelerated filer ¨ | Smaller reporting company ¨ | Emerging growth company ¨ |
Class | Outstanding at August 1, 2017 | |
Common Shares, no par value | 22,929,417 |
PART I. FINANCIAL INFORMATION | ||
Item 1. | Unaudited Financial Statements | |
Consolidated Balance Sheets – June 30, 2017 and December 31, 2016 | ||
Consolidated Statements of Income – Three Months Ended June 30, 2017 and 2016 | ||
Consolidated Statements of Income – Six Months Ended June 30, 2017 and 2016 | ||
Consolidated Statements of Comprehensive Income – Three and Six Months Ended June 30, 2017 and 2016 | ||
Consolidated Statements of Cash Flows – Six Months Ended June 30, 2017 and 2016 | ||
Notes to Consolidated Financial Statements – June 30, 2017 | ||
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | |
Item 3. | Quantitative and Qualitative Disclosures About Market Risk | |
Item 4. | Controls and Procedures | |
PART II. OTHER INFORMATION | ||
Item 1. | Legal Proceedings | |
Item 1A. | Risk Factors | |
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | |
Item 3. | Defaults Upon Senior Securities | |
Item 4. | Mine Safety Disclosures | |
Item 5. | Other Information | |
Item 6. | Exhibits | |
SIGNATURES | ||
INDEX OF EXHIBITS |
June 30, 2017 | December 31, 2016 | |||||||
ASSETS | ||||||||
Cash and Due from Banks | $ | 36,833 | $ | 48,467 | ||||
Federal Funds Sold and Other Short-term Investments | 7,204 | 16,349 | ||||||
Cash and Cash Equivalents | 44,037 | 64,816 | ||||||
Securities Available-for-Sale, at Fair Value | 740,578 | 709,786 | ||||||
Loans Held-for-Sale, at Fair Value | 9,844 | 15,273 | ||||||
Loans | 2,035,147 | 1,993,404 | ||||||
Less: Unearned Income | (3,404 | ) | (3,449 | ) | ||||
Allowance for Loan Losses | (15,320 | ) | (14,808 | ) | ||||
Loans, Net | 2,016,423 | 1,975,147 | ||||||
Stock in FHLB of Indianapolis and Other Restricted Stock, at Cost | 13,048 | 13,048 | ||||||
Premises, Furniture and Equipment, Net | 49,249 | 48,230 | ||||||
Other Real Estate | 1,289 | 242 | ||||||
Goodwill | 54,058 | 54,058 | ||||||
Intangible Assets | 2,549 | 2,835 | ||||||
Company Owned Life Insurance | 46,127 | 46,642 | ||||||
Accrued Interest Receivable and Other Assets | 27,601 | 25,917 | ||||||
TOTAL ASSETS | $ | 3,004,803 | $ | 2,955,994 | ||||
LIABILITIES | ||||||||
Non-interest-bearing Demand Deposits | $ | 557,535 | $ | 571,989 | ||||
Interest-bearing Demand, Savings, and Money Market Accounts | 1,453,512 | 1,399,381 | ||||||
Time Deposits | 352,274 | 378,181 | ||||||
Total Deposits | 2,363,321 | 2,349,551 | ||||||
FHLB Advances and Other Borrowings | 263,469 | 258,114 | ||||||
Accrued Interest Payable and Other Liabilities | 23,059 | 18,062 | ||||||
TOTAL LIABILITIES | 2,649,849 | 2,625,727 | ||||||
SHAREHOLDERS’ EQUITY | ||||||||
Preferred Stock, no par value; 500,000 shares authorized, no shares issued | — | — | ||||||
Common Stock, no par value, $1 stated value; 45,000,000 shares authorized (1) | 22,930 | 15,261 | ||||||
Additional Paid-in Capital | 164,683 | 171,744 | ||||||
Retained Earnings | 163,181 | 149,666 | ||||||
Accumulated Other Comprehensive (Loss) Income | 4,160 | (6,404 | ) | |||||
TOTAL SHAREHOLDERS’ EQUITY | 354,954 | 330,267 | ||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 3,004,803 | $ | 2,955,994 | ||||
End of period shares issued and outstanding (1) | 22,929,627 | 22,904,157 |
Three Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
INTEREST INCOME | ||||||||
Interest and Fees on Loans | $ | 22,602 | $ | 22,670 | ||||
Interest on Federal Funds Sold and Other Short-term Investments | 27 | 20 | ||||||
Interest and Dividends on Securities: | ||||||||
Taxable | 2,702 | 2,287 | ||||||
Non-taxable | 2,070 | 1,873 | ||||||
TOTAL INTEREST INCOME | 27,401 | 26,850 | ||||||
INTEREST EXPENSE | ||||||||
Interest on Deposits | 1,626 | 1,326 | ||||||
Interest on FHLB Advances and Other Borrowings | 962 | 853 | ||||||
TOTAL INTEREST EXPENSE | 2,588 | 2,179 | ||||||
NET INTEREST INCOME | 24,813 | 24,671 | ||||||
Provision for Loan Losses | 350 | 350 | ||||||
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 24,463 | 24,321 | ||||||
NON-INTEREST INCOME | ||||||||
Trust and Investment Product Fees | 1,350 | 1,223 | ||||||
Service Charges on Deposit Accounts | 1,478 | 1,534 | ||||||
Insurance Revenues | 1,744 | 1,605 | ||||||
Company Owned Life Insurance | 480 | 247 | ||||||
Interchange Fee Income | 1,156 | 873 | ||||||
Other Operating Income | 630 | 722 | ||||||
Net Gains on Sales of Loans | 959 | 883 | ||||||
Net Gains on Securities | — | 968 | ||||||
TOTAL NON-INTEREST INCOME | 7,797 | 8,055 | ||||||
NON-INTEREST EXPENSE | ||||||||
Salaries and Employee Benefits | 11,460 | 10,184 | ||||||
Occupancy Expense | 1,570 | 1,614 | ||||||
Furniture and Equipment Expense | 654 | 604 | ||||||
FDIC Premiums | 232 | 339 | ||||||
Data Processing Fees | 1,044 | 1,181 | ||||||
Professional Fees | 913 | 780 | ||||||
Advertising and Promotion | 630 | 629 | ||||||
Intangible Amortization | 242 | 312 | ||||||
Other Operating Expenses | 2,251 | 2,696 | ||||||
TOTAL NON-INTEREST EXPENSE | 18,996 | 18,339 | ||||||
Income before Income Taxes | 13,264 | 14,037 | ||||||
Income Tax Expense | 3,425 | 4,249 | ||||||
NET INCOME | $ | 9,839 | $ | 9,788 | ||||
Basic Earnings per Share (1) | $ | 0.43 | $ | 0.43 | ||||
Diluted Earnings per Share (1) | $ | 0.43 | $ | 0.43 | ||||
Dividends per Share (1) | $ | 0.13 | $ | 0.12 |
Six Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
INTEREST INCOME | ||||||||
Interest and Fees on Loans | $ | 44,864 | $ | 41,334 | ||||
Interest on Federal Funds Sold and Other Short-term Investments | 54 | 37 | ||||||
Interest and Dividends on Securities: | ||||||||
Taxable | 5,421 | 4,564 | ||||||
Non-taxable | 4,095 | 3,595 | ||||||
TOTAL INTEREST INCOME | 54,434 | 49,530 | ||||||
INTEREST EXPENSE | ||||||||
Interest on Deposits | 3,069 | 2,481 | ||||||
Interest on FHLB Advances and Other Borrowings | 1,827 | 1,594 | ||||||
TOTAL INTEREST EXPENSE | 4,896 | 4,075 | ||||||
NET INTEREST INCOME | 49,538 | 45,455 | ||||||
Provision for Loan Losses | 850 | 1,200 | ||||||
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 48,688 | 44,255 | ||||||
NON-INTEREST INCOME | ||||||||
Trust and Investment Product Fees | 2,593 | 2,244 | ||||||
Service Charges on Deposit Accounts | 2,962 | 2,767 | ||||||
Insurance Revenues | 4,384 | 4,332 | ||||||
Company Owned Life Insurance | 734 | 462 | ||||||
Interchange Fee Income | 2,179 | 1,661 | ||||||
Other Operating Income | 1,487 | 1,235 | ||||||
Net Gains on Sales of Loans | 1,646 | 1,603 | ||||||
Net Gains on Securities | — | 968 | ||||||
TOTAL NON-INTEREST INCOME | 15,985 | 15,272 | ||||||
NON-INTEREST EXPENSE | ||||||||
Salaries and Employee Benefits | 22,904 | 21,785 | ||||||
Occupancy Expense | 3,119 | 2,993 | ||||||
Furniture and Equipment Expense | 1,287 | 1,112 | ||||||
FDIC Premiums | 471 | 667 | ||||||
Data Processing Fees | 2,055 | 3,346 | ||||||
Professional Fees | 1,716 | 2,098 | ||||||
Advertising and Promotion | 1,408 | 1,173 | ||||||
Intangible Amortization | 495 | 520 | ||||||
Other Operating Expenses | 4,577 | 4,885 | ||||||
TOTAL NON-INTEREST EXPENSE | 38,032 | 38,579 | ||||||
Income before Income Taxes | 26,641 | 20,948 | ||||||
Income Tax Expense | 7,246 | 6,014 | ||||||
NET INCOME | $ | 19,395 | $ | 14,934 | ||||
Basic Earnings per Share (1) | $ | 0.85 | $ | 0.68 | ||||
Diluted Earnings per Share (1) | $ | 0.85 | $ | 0.68 | ||||
Dividends per Share (1) | $ | 0.26 | $ | 0.24 |
Three Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
NET INCOME | $ | 9,839 | $ | 9,788 | ||||
Other Comprehensive Income: | ||||||||
Unrealized Gains on Securities | ||||||||
Unrealized Holding Gain Arising During the Period | 10,133 | 6,134 | ||||||
Reclassification Adjustment for Losses (Gains) Included in Net Income | — | (968 | ) | |||||
Tax Effect | (3,567 | ) | (1,812 | ) | ||||
Net of Tax | 6,566 | 3,354 | ||||||
Total Other Comprehensive Income | 6,566 | 3,354 | ||||||
COMPREHENSIVE INCOME | $ | 16,405 | $ | 13,142 |
Six Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
NET INCOME | $ | 19,395 | $ | 14,934 | ||||
Other Comprehensive Income: | ||||||||
Unrealized Gains on Securities | ||||||||
Unrealized Holding Gain Arising During the Period | 16,312 | 12,343 | ||||||
Reclassification Adjustment for Losses (Gains) Included in Net Income | — | (968 | ) | |||||
Tax Effect | (5,748 | ) | (3,992 | ) | ||||
Net of Tax | 10,564 | 7,383 | ||||||
Total Other Comprehensive Income | 10,564 | 7,383 | ||||||
COMPREHENSIVE INCOME | $ | 29,959 | $ | 22,317 |
Six Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Net Income | $ | 19,395 | $ | 14,934 | ||||
Adjustments to Reconcile Net Income to Net Cash from Operating Activities: | ||||||||
Net Amortization on Securities | 1,669 | 1,884 | ||||||
Depreciation and Amortization | 2,317 | 2,227 | ||||||
Loans Originated for Sale | (57,304 | ) | (53,059 | ) | ||||
Proceeds from Sales of Loans Held-for-Sale | 64,286 | 60,430 | ||||||
Provision for Loan Losses | 850 | 1,200 | ||||||
Gain on Sale of Loans, net | (1,646 | ) | (1,603 | ) | ||||
Gain on Securities, net | — | (968 | ) | |||||
Loss (Gain) on Sales of Other Real Estate and Repossessed Assets | (7 | ) | 1 | |||||
Loss on Disposition and Donation of Premises and Equipment | 2 | 5 | ||||||
Increase in Cash Surrender Value of Company Owned Life Insurance | (759 | ) | (502 | ) | ||||
Equity Based Compensation | 637 | 528 | ||||||
Change in Assets and Liabilities: | ||||||||
Interest Receivable and Other Assets | (196 | ) | 5,736 | |||||
Interest Payable and Other Liabilities | (751 | ) | (2,307 | ) | ||||
Net Cash from Operating Activities | 28,493 | 28,506 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Purchase of Other Short-term Investments | — | (1,000 | ) | |||||
Proceeds from Maturity of Other Short-term Investments | — | 248 | ||||||
Proceeds from Maturities, Calls, Redemptions of Securities Available-for-Sale | 40,792 | 46,809 | ||||||
Proceeds from Sales of Securities Available-for-Sale | — | 105,339 | ||||||
Purchase of Securities Available-for-Sale | (56,941 | ) | (91,368 | ) | ||||
Proceeds from Maturities of Securities Held-to-Maturity | — | 95 | ||||||
Purchase of Federal Home Loan Bank Stock | — | (1,350 | ) | |||||
Purchase of Loans | (59 | ) | (4,488 | ) | ||||
Loans Made to Customers, net of Payments Received | (43,297 | ) | (74,838 | ) | ||||
Proceeds from Sales of Other Real Estate | 190 | 869 | ||||||
Property and Equipment Expenditures | (3,302 | ) | (1,504 | ) | ||||
Acquisition of River Valley Bancorp | — | (793 | ) | |||||
Net Cash from Investing Activities | (62,617 | ) | (21,981 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Change in Deposits | 13,909 | 45,673 | ||||||
Change in Short-term Borrowings | (18,851 | ) | (24,888 | ) | ||||
Advances in Long-term Debt | 50,000 | — | ||||||
Repayments of Long-term Debt | (25,804 | ) | (20,096 | ) | ||||
Issuance of Common Stock | (29 | ) | 54 | |||||
Dividends Paid | (5,880 | ) | (5,137 | ) | ||||
Net Cash from Financing Activities | 13,345 | (4,394 | ) | |||||
Net Change in Cash and Cash Equivalents | (20,779 | ) | 2,131 | |||||
Cash and Cash Equivalents at Beginning of Year | 64,816 | 52,009 | ||||||
Cash and Cash Equivalents at End of Period | $ | 44,037 | $ | 54,140 | ||||
Cash Paid During the Period for | ||||||||
Interest | $ | 4,913 | $ | 3,901 | ||||
Income Taxes | 7,239 | 5,133 | ||||||
Supplemental Non Cash Disclosures | ||||||||
Loans Transferred to Other Real Estate | $ | 1,230 | $ | 10 | ||||
Reclassification of Land to Other Assets | 330 | — |
Three Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
Basic Earnings per Share: | ||||||||
Net Income | $ | 9,839 | $ | 9,788 | ||||
Weighted Average Shares Outstanding (1) | 22,929,426 | 22,884,028 | ||||||
Basic Earnings per Share | $ | 0.43 | $ | 0.43 | ||||
Diluted Earnings per Share: | ||||||||
Net Income | $ | 9,839 | $ | 9,788 | ||||
Weighted Average Shares Outstanding (1) | 22,929,426 | 22,884,028 | ||||||
Potentially Dilutive Shares, Net | — | 1,801 | ||||||
Diluted Weighted Average Shares Outstanding (1) | 22,929,426 | 22,885,829 | ||||||
Diluted Earnings per Share | $ | 0.43 | $ | 0.43 |
Six Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
Basic Earnings per Share: | ||||||||
Net Income | $ | 19,395 | $ | 14,934 | ||||
Weighted Average Shares Outstanding (1) | 22,919,094 | 21,885,655 | ||||||
Basic Earnings per Share | $ | 0.85 | $ | 0.68 | ||||
Diluted Earnings per Share: | ||||||||
Net Income | $ | 19,395 | $ | 14,934 | ||||
Weighted Average Shares Outstanding (1) | 22,919,094 | 21,885,655 | ||||||
Potentially Dilutive Shares, Net | — | 3,958 | ||||||
Diluted Weighted Average Shares Outstanding (1) | 22,919,094 | 21,889,613 | ||||||
Diluted Earnings per Share | $ | 0.85 | $ | 0.68 |
Securities Available-for-Sale: | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||
June 30, 2017 | ||||||||||||||||
Obligations of State and Political Subdivisions | $ | 258,242 | $ | 9,337 | $ | (592 | ) | $ | 266,987 | |||||||
MBS/CMO - Residential | 475,440 | 2,096 | (4,298 | ) | 473,238 | |||||||||||
Equity Securities | 353 | — | — | 353 | ||||||||||||
Total | $ | 734,035 | $ | 11,433 | $ | (4,890 | ) | $ | 740,578 | |||||||
December 31, 2016 | ||||||||||||||||
Obligations of State and Political Subdivisions | $ | 247,350 | $ | 3,847 | $ | (3,678 | ) | $ | 247,519 | |||||||
MBS/CMO - Residential | 471,852 | 480 | (10,418 | ) | 461,914 | |||||||||||
Equity Securities | 353 | — | — | 353 | ||||||||||||
Total | $ | 719,555 | $ | 4,327 | $ | (14,096 | ) | $ | 709,786 |
Securities Available-for-Sale: | Amortized Cost | Fair Value | ||||||
Due in one year or less | $ | 2,282 | $ | 2,303 | ||||
Due after one year through five years | 22,311 | 23,357 | ||||||
Due after five years through ten years | 75,810 | 79,589 | ||||||
Due after ten years | 157,839 | 161,738 | ||||||
MBS/CMO - Residential | 475,440 | 473,238 | ||||||
Equity Securities | 353 | 353 | ||||||
Total | $ | 734,035 | $ | 740,578 |
Three Months Ended | Three Months Ended | |||||||
June 30, 2017 | June 30, 2016 | |||||||
Proceeds from Sales | $ | — | $ | 42,364 | ||||
Gross Gains on Sales | — | 968 | ||||||
Income Taxes on Gross Gains | — | 339 |
Six Months Ended | Six Months Ended | |||||||
June 30, 2017 | June 30, 2016 | |||||||
Proceeds from Sales | $ | — | $ | 105,339 | ||||
Gross Gains on Sales | — | 968 | ||||||
Income Taxes on Gross Gains | — | 339 |
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
June 30, 2017 | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||
Obligations of State and Political Subdivisions | $ | 35,898 | $ | (592 | ) | $ | — | $ | — | $ | 35,898 | $ | (592 | ) | ||||||||||
MBS/CMO - Residential | 241,223 | (3,198 | ) | 45,397 | (1,100 | ) | 286,620 | (4,298 | ) | |||||||||||||||
Equity Securities | — | — | — | — | — | — | ||||||||||||||||||
Total | $ | 277,121 | $ | (3,790 | ) | $ | 45,397 | $ | (1,100 | ) | $ | 322,518 | $ | (4,890 | ) |
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
December 31, 2016 | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||
Obligations of State and Political Subdivisions | $ | 108,918 | $ | (3,678 | ) | $ | — | $ | — | $ | 108,918 | $ | (3,678 | ) | ||||||||||
MBS/CMO - Residential | 356,040 | (8,782 | ) | 47,271 | (1,636 | ) | 403,311 | (10,418 | ) | |||||||||||||||
Equity Securities | — | — | — | — | — | — | ||||||||||||||||||
Total | $ | 464,958 | $ | (12,460 | ) | $ | 47,271 | $ | (1,636 | ) | $ | 512,229 | $ | (14,096 | ) |
June 30, 2017 | December 31, 2016 | |||||||||||||||
Notional Amount | Fair Value | Notional Amount | Fair Value | |||||||||||||
Included in Other Assets: | ||||||||||||||||
Interest Rate Swaps | $ | 84,546 | $ | 1,655 | $ | 67,902 | $ | 1,291 | ||||||||
Included in Other Liabilities: | ||||||||||||||||
Interest Rate Swaps | $ | 84,546 | $ | 1,736 | $ | 67,902 | $ | 1,238 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Interest Rate Swaps: | ||||||||||||||||
Included in Other Operating Income | $ | — | $ | 104 | $ | 348 | $ | 158 |
June 30, 2017 | December 31, 2016 | |||||||
Commercial: | ||||||||
Commercial and Industrial Loans and Leases | $ | 467,754 | $ | 457,372 | ||||
Commercial Real Estate Loans | 870,100 | 856,094 | ||||||
Agricultural Loans | 313,254 | 303,128 | ||||||
Retail: | ||||||||
Home Equity Loans | 141,377 | 133,575 | ||||||
Consumer Loans | 61,185 | 59,945 | ||||||
Residential Mortgage Loans | 181,477 | 183,290 | ||||||
Subtotal | 2,035,147 | 1,993,404 | ||||||
Less: Unearned Income | (3,404 | ) | (3,449 | ) | ||||
Allowance for Loan Losses | (15,320 | ) | (14,808 | ) | ||||
Loans, Net | $ | 2,016,423 | $ | 1,975,147 |
June 30, 2017 | Commercial and Industrial Loans and Leases | Commercial Real Estate Loans | Agricultural Loans | Home Equity Loans | Consumer Loans | Residential Mortgage Loans | Unallocated | Total | ||||||||||||||||||||||||
Beginning Balance | $ | 3,612 | $ | 5,696 | $ | 4,361 | $ | 299 | $ | 244 | $ | 348 | $ | 606 | $ | 15,166 | ||||||||||||||||
Provision for Loan Losses | 62 | (259 | ) | 468 | 16 | 54 | 19 | (10 | ) | 350 | ||||||||||||||||||||||
Recoveries | 7 | 34 | — | 2 | 67 | 8 | — | 118 | ||||||||||||||||||||||||
Loans Charged-off | (9 | ) | (155 | ) | — | (17 | ) | (111 | ) | (22 | ) | — | (314 | ) | ||||||||||||||||||
Ending Balance | $ | 3,672 | $ | 5,316 | $ | 4,829 | $ | 300 | $ | 254 | $ | 353 | $ | 596 | $ | 15,320 |
June 30, 2016 | Commercial and Industrial Loans and Leases | Commercial Real Estate Loans | Agricultural Loans | Home Equity Loans | Consumer Loans | Residential Mortgage Loans | Unallocated | Total | ||||||||||||||||||||||||
Beginning Balance | $ | 4,346 | $ | 6,463 | $ | 2,529 | $ | 352 | $ | 230 | $ | 531 | $ | 710 | $ | 15,161 | ||||||||||||||||
Provision for Loan Losses | (180 | ) | 68 | 175 | 9 | 66 | 196 | 16 | 350 | |||||||||||||||||||||||
Recoveries | 24 | 2 | — | — | 43 | 4 | — | 73 | ||||||||||||||||||||||||
Loans Charged-off | — | — | — | (11 | ) | (97 | ) | (172 | ) | — | (280 | ) | ||||||||||||||||||||
Ending Balance | $ | 4,190 | $ | 6,533 | $ | 2,704 | $ | 350 | $ | 242 | $ | 559 | $ | 726 | $ | 15,304 |
June 30, 2017 | Commercial and Industrial Loans and Leases | Commercial Real Estate Loans | Agricultural Loans | Home Equity Loans | Consumer Loans | Residential Mortgage Loans | Unallocated | Total | ||||||||||||||||||||||||
Beginning Balance | $ | 3,725 | $ | 5,452 | $ | 4,094 | $ | 283 | $ | 235 | $ | 329 | $ | 690 | $ | 14,808 | ||||||||||||||||
Provision for Loan Losses | (53 | ) | 19 | 735 | 33 | 172 | 38 | (94 | ) | 850 | ||||||||||||||||||||||
Recoveries | 9 | 39 | — | 2 | 127 | 35 | — | 212 | ||||||||||||||||||||||||
Loans Charged-off | (9 | ) | (194 | ) | — | (18 | ) | (280 | ) | (49 | ) | — | (550 | ) | ||||||||||||||||||
Ending Balance | $ | 3,672 | $ | 5,316 | $ | 4,829 | $ | 300 | $ | 254 | $ | 353 | $ | 596 | $ | 15,320 |
June 30, 2016 | Commercial and Industrial Loans and Leases | Commercial Real Estate Loans | Agricultural Loans | Home Equity Loans | Consumer Loans | Residential Mortgage Loans | Unallocated | Total | ||||||||||||||||||||||||
Beginning Balance | $ | 4,242 | $ | 6,342 | $ | 2,115 | $ | 383 | $ | 230 | $ | 414 | $ | 712 | $ | 14,438 | ||||||||||||||||
Provision for Loan Losses | (75 | ) | 188 | 589 | 40 | 93 | 351 | 14 | 1,200 | |||||||||||||||||||||||
Recoveries | 28 | 3 | — | 1 | 88 | 9 | — | 129 | ||||||||||||||||||||||||
Loans Charged-off | (5 | ) | — | — | (74 | ) | (169 | ) | (215 | ) | — | (463 | ) | |||||||||||||||||||
Ending Balance | $ | 4,190 | $ | 6,533 | $ | 2,704 | $ | 350 | $ | 242 | $ | 559 | $ | 726 | $ | 15,304 |
June 30, 2017 | Total | Commercial and Industrial Loans and Leases | Commercial Real Estate Loans | Agricultural Loans | Home Equity Loans | Consumer Loans | Residential Mortgage Loans | Unallocated | ||||||||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | ||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 260 | $ | 10 | $ | 180 | $ | 70 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Collectively Evaluated for Impairment | 15,000 | 3,659 | 5,132 | 4,711 | 300 | 249 | 353 | 596 | ||||||||||||||||||||||||
Acquired with Deteriorated Credit Quality | 60 | 3 | 4 | 48 | — | 5 | — | — | ||||||||||||||||||||||||
Total Ending Allowance Balance | $ | 15,320 | $ | 3,672 | $ | 5,316 | $ | 4,829 | $ | 300 | $ | 254 | $ | 353 | $ | 596 | ||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Loans Individually Evaluated for Impairment | $ | 1,413 | $ | 187 | $ | 836 | $ | 390 | $ | — | $ | — | $ | — | n/m(2) | |||||||||||||||||
Loans Collectively Evaluated for Impairment | 2,031,844 | 467,531 | 864,532 | 315,691 | 141,851 | 61,281 | 180,958 | n/m(2) | ||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | 9,513 | 1,247 | 6,602 | 683 | — | 53 | 928 | n/m(2) | ||||||||||||||||||||||||
Total Ending Loans Balance(1) | $ | 2,042,770 | $ | 468,965 | $ | 871,970 | $ | 316,764 | $ | 141,851 | $ | 61,334 | $ | 181,886 | n/m(2) |
December 31, 2016 | Total | Commercial and Industrial Loans and Leases | Commercial Real Estate Loans | Agricultural Loans | Home Equity Loans | Consumer Loans | Residential Mortgage Loans | Unallocated | ||||||||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | ||||||||||||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 255 | $ | 24 | $ | 231 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Collectively Evaluated for Impairment | 14,448 | 3,698 | 5,172 | 4,046 | 283 | 230 | 329 | 690 | ||||||||||||||||||||||||
Acquired with Deteriorated Credit Quality | 105 | 3 | 49 | 48 | — | 5 | — | — | ||||||||||||||||||||||||
Total Ending Allowance Balance | $ | 14,808 | $ | 3,725 | $ | 5,452 | $ | 4,094 | $ | 283 | $ | 235 | $ | 329 | $ | 690 | ||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Loans Individually Evaluated for Impairment | $ | 1,239 | $ | 113 | $ | 832 | $ | 294 | $ | — | $ | — | $ | — | n/m(2) | |||||||||||||||||
Loans Collectively Evaluated for Impairment | 1,989,128 | 456,769 | 849,510 | 305,946 | 134,032 | 60,046 | 182,825 | n/m(2) | ||||||||||||||||||||||||
Loans Acquired with Deteriorated Credit Quality | 11,048 | 1,656 | 7,688 | 706 | — | 53 | 945 | n/m(2) | ||||||||||||||||||||||||
Total Ending Loans Balance(1) | $ | 2,001,415 | $ | 458,538 | $ | 858,030 | $ | 306,946 | $ | 134,032 | $ | 60,099 | $ | 183,770 | n/m(2) |
June 30, 2017 | Unpaid Principal Balance(1) | Recorded Investment | Allowance for Loan Losses Allocated | |||||||||
With No Related Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | $ | 196 | $ | 139 | $ | — | ||||||
Commercial Real Estate Loans | 838 | 450 | — | |||||||||
Agricultural Loans | 199 | 162 | — | |||||||||
Subtotal | 1,233 | 751 | — | |||||||||
With An Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | 105 | 64 | 13 | |||||||||
Commercial Real Estate Loans | 800 | 791 | 184 | |||||||||
Agricultural Loans | 806 | 715 | 118 | |||||||||
Subtotal | 1,711 | 1,570 | 315 | |||||||||
Total | $ | 2,944 | $ | 2,321 | $ | 315 | ||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 581 | $ | 203 | $ | — | ||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 844 | $ | 705 | $ | 55 |
December 31, 2016 | Unpaid Principal Balance(1) | Recorded Investment | Allowance for Loan Losses Allocated | |||||||||
With No Related Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | $ | 85 | $ | 29 | $ | — | ||||||
Commercial Real Estate Loans | 1,278 | 784 | — | |||||||||
Agricultural Loans | 356 | 294 | — | |||||||||
Subtotal | 1,719 | 1,107 | — | |||||||||
With An Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | 148 | 107 | 27 | |||||||||
Commercial Real Estate Loans | 839 | 827 | 280 | |||||||||
Agricultural Loans | 588 | 497 | 48 | |||||||||
Subtotal | 1,575 | 1,431 | 355 | |||||||||
Total | $ | 3,294 | $ | 2,538 | $ | 355 | ||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 1,018 | $ | 531 | $ | — | ||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 910 | $ | 768 | $ | 100 |
June 30, 2017 | Average Recorded Investment | Interest Income Recognized | Cash Basis Recognized | |||||||||
With No Related Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | $ | 150 | $ | 2 | $ | 1 | ||||||
Commercial Real Estate Loans | 1,124 | 26 | 26 | |||||||||
Agricultural Loans | 496 | 19 | 16 | |||||||||
Subtotal | 1,770 | 47 | 43 | |||||||||
With An Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | 65 | 1 | — | |||||||||
Commercial Real Estate Loans | 795 | 4 | — | |||||||||
Agricultural Loans | 727 | — | — | |||||||||
Subtotal | 1,587 | 5 | — | |||||||||
Total | $ | 3,357 | $ | 52 | $ | 43 | ||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 245 | $ | 25 | $ | 25 | ||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 712 | $ | 4 | $ | — |
June 30, 2016 | Average Recorded Investment | Interest Income Recognized | Cash Basis Recognized | |||||||||
With No Related Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | $ | 185 | $ | 3 | $ | 1 | ||||||
Commercial Real Estate Loans | 3,397 | 6 | 1 | |||||||||
Agricultural Loans | 845 | — | — | |||||||||
Subtotal | 4,427 | 9 | 2 | |||||||||
With An Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | 86 | — | — | |||||||||
Commercial Real Estate Loans | 2,198 | 1 | — | |||||||||
Agricultural Loans | — | — | — | |||||||||
Subtotal | 2,284 | 1 | — | |||||||||
Total | $ | 6,711 | $ | 10 | $ | 2 | ||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 2,324 | $ | 4 | $ | 1 | ||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | — | $ | — | $ | — |
June 30, 2017 | Average Recorded Investment | Interest Income Recognized | Cash Basis Recognized | |||||||||
With No Related Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | $ | 83 | $ | 2 | $ | 2 | ||||||
Commercial Real Estate Loans | 823 | 30 | 29 | |||||||||
Agricultural Loans | 607 | 24 | 16 | |||||||||
Subtotal | 1,513 | 56 | 47 | |||||||||
With An Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | 84 | 2 | 1 | |||||||||
Commercial Real Estate Loans | 1,609 | 10 | 6 | |||||||||
Agricultural Loans | 612 | — | — | |||||||||
Subtotal | 2,305 | 12 | 7 | |||||||||
Total | $ | 3,818 | $ | 68 | $ | 54 | ||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 311 | $ | 25 | $ | 25 | ||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | 721 | $ | 11 | $ | 7 |
June 30, 2016 | Average Recorded Investment | Interest Income Recognized | Cash Basis Recognized | |||||||||
With No Related Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | $ | 133 | $ | 25 | $ | 12 | ||||||
Commercial Real Estate Loans | 1,988 | 24 | 4 | |||||||||
Agricultural Loans | 428 | 2 | 1 | |||||||||
Subtotal | 2,549 | 51 | 17 | |||||||||
With An Allowance Recorded: | ||||||||||||
Commercial and Industrial Loans and Leases | 108 | — | — | |||||||||
Commercial Real Estate Loans | 2,216 | 2 | — | |||||||||
Agricultural Loans | — | — | — | |||||||||
Subtotal | 2,324 | 2 | — | |||||||||
Total | $ | 4,873 | $ | 53 | $ | 17 | ||||||
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) | $ | 1,697 | $ | 12 | $ | 2 | ||||||
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) | $ | — | $ | — | $ | — |
Non-Accrual Loans | Loans Past Due 90 Days or More & Still Accruing | |||||||||||||||
June 30, | December 31, | June 30, | December 31, | |||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Commercial and Industrial Loans and Leases | $ | 60 | $ | 86 | $ | — | $ | 2 | ||||||||
Commercial Real Estate Loans | 982 | 1,408 | 32 | — | ||||||||||||
Agricultural Loans | 878 | 792 | 31 | — | ||||||||||||
Home Equity Loans | 72 | 73 | — | — | ||||||||||||
Consumer Loans | 433 | 85 | — | — | ||||||||||||
Residential Mortgage Loans | 672 | 1,349 | — | — | ||||||||||||
Total | $ | 3,097 | $ | 3,793 | $ | 63 | $ | 2 | ||||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | 820 | $ | 1,264 | $ | — | $ | — |
June 30, 2017 | Total | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | Loans Not Past Due | ||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 468,965 | $ | 51 | $ | 3 | $ | 53 | $ | 107 | $ | 468,858 | ||||||||||||
Commercial Real Estate Loans | 871,970 | 1,060 | 52 | 393 | 1,505 | 870,465 | ||||||||||||||||||
Agricultural Loans | 316,764 | 110 | — | 746 | 856 | 315,908 | ||||||||||||||||||
Home Equity Loans | 141,851 | 234 | 19 | 72 | 325 | 141,526 | ||||||||||||||||||
Consumer Loans | 61,334 | 164 | 40 | 433 | 637 | 60,697 | ||||||||||||||||||
Residential Mortgage Loans | 181,886 | 2,791 | 982 | 382 | 4,155 | 177,731 | ||||||||||||||||||
Total(1) | $ | 2,042,770 | $ | 4,410 | $ | 1,096 | $ | 2,079 | $ | 7,585 | $ | 2,035,185 | ||||||||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | 9,513 | $ | — | $ | — | $ | 568 | $ | 568 | $ | 8,945 |
December 31, 2016 | Total | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | Loans Not Past Due | ||||||||||||||||||
Commercial and Industrial Loans and Leases | $ | 458,538 | $ | 20 | $ | 4 | $ | 77 | $ | 101 | $ | 458,437 | ||||||||||||
Commercial Real Estate Loans | 858,030 | 1,509 | 21 | 330 | 1,860 | 856,170 | ||||||||||||||||||
Agricultural Loans | 306,946 | 84 | 50 | 610 | 744 | 306,202 | ||||||||||||||||||
Home Equity Loans | 134,032 | 707 | 16 | 73 | 796 | 133,236 | ||||||||||||||||||
Consumer Loans | 60,099 | 175 | 147 | 85 | 407 | 59,692 | ||||||||||||||||||
Residential Mortgage Loans | 183,770 | 3,470 | 1,251 | 806 | 5,527 | 178,243 | ||||||||||||||||||
Total(1) | $ | 2,001,415 | $ | 5,965 | $ | 1,489 | $ | 1,981 | $ | 9,435 | $ | 1,991,980 | ||||||||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | 11,048 | $ | 130 | $ | — | $ | 627 | $ | 757 | $ | 10,291 | ||||||||||||
Loans Acquired in Current Year (Included in the Total Above) | $ | 262,809 | $ | 2,752 | $ | 862 | $ | 1,126 | $ | 4,740 | $ | 258,069 |
June 30, 2017 | Total | Performing | Non-Accrual(1) | |||||||||
Commercial and Industrial Loans and Leases | $ | 127 | $ | 127 | $ | — | ||||||
Commercial Real Estate Loans | 27 | 27 | — | |||||||||
Total | $ | 154 | $ | 154 | $ | — |
December 31, 2016 | Total | Performing | Non-Accrual(1) | |||||||||
Commercial and Industrial Loans and Leases | $ | 28 | $ | 28 | $ | — | ||||||
Commercial Real Estate Loans | — | — | — | |||||||||
Total | $ | 28 | $ | 28 | $ | — |
June 30, 2017 | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||
Commercial and Industrial Loans and Leases | 1 | $ | 127 | $ | 127 | ||||||
Commercial Real Estate Loans | — | — | — | ||||||||
Total | 1 | $ | 127 | $ | 127 |
June 30, 2016 | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||
Commercial and Industrial Loans and Leases | — | $ | — | $ | — | ||||||
Commercial Real Estate Loans | — | — | — | ||||||||
Total | — | $ | — | $ | — |
June 30, 2017 | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||
Commercial and Industrial Loans and Leases | 1 | $ | 127 | $ | 127 | ||||||
Commercial Real Estate Loans | 1 | 28 | 28 | ||||||||
Total | 2 | $ | 155 | $ | 155 |
June 30, 2016 | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||
Commercial and Industrial Loans and Leases | — | $ | — | $ | — | ||||||
Commercial Real Estate Loans | — | — | — | ||||||||
Total | — | $ | — | $ | — |
June 30, 2017 | Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||
Commercial and Industrial Loans and Leases | $ | 449,772 | $ | 8,792 | $ | 10,401 | $ | — | $ | 468,965 | ||||||||||
Commercial Real Estate Loans | 833,572 | 23,865 | 14,533 | — | 871,970 | |||||||||||||||
Agricultural Loans | 287,410 | 26,230 | 3,124 | — | 316,764 | |||||||||||||||
Total | $ | 1,570,754 | $ | 58,887 | $ | 28,058 | $ | — | $ | 1,657,699 | ||||||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | 1,479 | $ | 3,120 | $ | 3,933 | $ | — | $ | 8,532 |
December 31, 2016 | Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||
Commercial and Industrial Loans and Leases | $ | 437,353 | $ | 10,454 | $ | 10,731 | $ | — | $ | 458,538 | ||||||||||
Commercial Real Estate Loans | 814,033 | 26,549 | 17,448 | — | 858,030 | |||||||||||||||
Agricultural Loans | 287,975 | 14,670 | 4,301 | — | 306,946 | |||||||||||||||
Total | $ | 1,539,361 | $ | 51,673 | $ | 32,480 | $ | — | $ | 1,623,514 | ||||||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | 1,897 | $ | 3,121 | $ | 5,032 | $ | — | $ | 10,050 | ||||||||||
Loans Acquired in Current Year (Included in the Total Above) | $ | 175,915 | $ | 11,638 | $ | 8,145 | $ | — | $ | 195,698 |
June 30, 2017 | Home Equity Loans | Consumer Loans | Residential Mortgage Loans | |||||||||
Performing | $ | 141,779 | $ | 60,901 | $ | 181,214 | ||||||
Nonperforming | 72 | 433 | 672 | |||||||||
Total | $ | 141,851 | $ | 61,334 | $ | 181,886 | ||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | — | $ | 53 | $ | 928 |
December 31, 2016 | Home Equity Loans | Consumer Loans | Residential Mortgage Loans | |||||||||
Performing | $ | 133,959 | $ | 60,014 | $ | 182,421 | ||||||
Nonperforming | 73 | 85 | 1,349 | |||||||||
Total | $ | 134,032 | $ | 60,099 | $ | 183,770 | ||||||
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) | $ | — | $ | 53 | $ | 945 |
June 30, 2017 | December 31, 2016 | |||||||
Commercial and Industrial Loans | $ | 1,247 | $ | 1,656 | ||||
Commercial Real Estate Loans | 6,602 | 7,688 | ||||||
Agricultural Loans | 683 | 706 | ||||||
Consumer Loans | 53 | 53 | ||||||
Residential Mortgage Loans | 928 | 945 | ||||||
Total | $ | 9,513 | $ | 11,048 | ||||
Carrying Amount, Net of Allowance | $ | 9,453 | $ | 10,943 |
2017 | 2016 | |||||||
Balance at April 1 | $ | 2,790 | $ | 2,613 | ||||
New Loans Purchased | — | — | ||||||
Accretion of Income | (240 | ) | (415 | ) | ||||
Reclassifications from Non-accretable Difference | 155 | — | ||||||
Charge-off of Accretable Yield | — | — | ||||||
Balance at June 30 | $ | 2,705 | $ | 2,198 |
2017 | 2016 | |||||||
Balance at January 1 | $ | 2,521 | $ | 1,279 | ||||
New Loans Purchased | — | 1,395 | ||||||
Accretion of Income | (282 | ) | (476 | ) | ||||
Reclassifications from Non-accretable Difference | 466 | — | ||||||
Charge-off of Accretable Yield | — | — | ||||||
Balance at June 30 | $ | 2,705 | $ | 2,198 |
Core Banking | Trust and Investment Advisory Services | Insurance | Other | Consolidated Totals | ||||||||||||||||
Three Months Ended | ||||||||||||||||||||
June 30, 2017 | ||||||||||||||||||||
Net Interest Income | $ | 24,999 | $ | 1 | $ | 2 | $ | (189 | ) | $ | 24,813 | |||||||||
Net Gains on Sales of Loans | 959 | — | — | — | 959 | |||||||||||||||
Net Gains on Securities | — | — | — | — | — | |||||||||||||||
Trust and Investment Product Fees | 1 | 1,350 | — | (1 | ) | 1,350 | ||||||||||||||
Insurance Revenues | 12 | 8 | 1,724 | — | 1,744 | |||||||||||||||
Noncash Items: | ||||||||||||||||||||
Provision for Loan Losses | 350 | — | — | — | 350 | |||||||||||||||
Depreciation and Amortization | 1,103 | 4 | 19 | 64 | 1,190 | |||||||||||||||
Income Tax Expense (Benefit) | 3,615 | 49 | 48 | (287 | ) | 3,425 | ||||||||||||||
Segment Profit (Loss) | 9,791 | 66 | 74 | (92 | ) | 9,839 | ||||||||||||||
Segment Assets at June 30, 2017 | 3,001,898 | 1,907 | 9,774 | (8,776 | ) | 3,004,803 |
Core Banking | Trust and Investment Advisory Services | Insurance | Other | Consolidated Totals | ||||||||||||||||
Three Months Ended | ||||||||||||||||||||
June 30, 2016 | ||||||||||||||||||||
Net Interest Income | $ | 24,873 | $ | 1 | $ | 1 | $ | (204 | ) | $ | 24,671 | |||||||||
Net Gains on Sales of Loans | 883 | — | — | — | 883 | |||||||||||||||
Net Gains on Securities | 968 | — | — | — | 968 | |||||||||||||||
Trust and Investment Product Fees | 2 | 1,221 | — | — | 1,223 | |||||||||||||||
Insurance Revenues | 4 | 5 | 1,596 | — | 1,605 | |||||||||||||||
Noncash Items: | ||||||||||||||||||||
Provision for Loan Losses | 350 | — | — | — | 350 | |||||||||||||||
Depreciation and Amortization | 1,089 | 1 | 25 | 64 | 1,179 | |||||||||||||||
Income Tax Expense (Benefit) | 4,419 | 50 | 58 | (278 | ) | 4,249 | ||||||||||||||
Segment Profit (Loss) | 9,800 | 76 | 87 | (175 | ) | 9,788 | ||||||||||||||
Segment Assets at December 31, 2016 | 2,958,585 | 1,851 | 8,494 | (12,936 | ) | 2,955,994 |
Core Banking | Trust and Investment Advisory Services | Insurance | Other | Consolidated Totals | ||||||||||||||||
Six Months Ended | ||||||||||||||||||||
June 30, 2017 | ||||||||||||||||||||
Net Interest Income | $ | 49,908 | $ | 2 | $ | 4 | $ | (376 | ) | $ | 49,538 | |||||||||
Net Gains on Sales of Loans | 1,646 | — | — | — | 1,646 | |||||||||||||||
Net Gains on Securities | — | — | — | — | — | |||||||||||||||
Trust and Investment Product Fees | 2 | 2,594 | — | (3 | ) | 2,593 | ||||||||||||||
Insurance Revenues | 14 | 13 | 4,357 | — | 4,384 | |||||||||||||||
Noncash Items: | ||||||||||||||||||||
Provision for Loan Losses | 850 | — | — | — | 850 | |||||||||||||||
Depreciation and Amortization | 2,144 | 7 | 38 | 128 | 2,317 | |||||||||||||||
Income Tax Expense (Benefit) | 7,237 | 83 | 475 | (549 | ) | 7,246 | ||||||||||||||
Segment Profit (Loss) | 18,756 | 110 | 747 | (218 | ) | 19,395 | ||||||||||||||
Segment Assets at June 30, 2017 | 3,001,898 | 1,907 | 9,774 | (8,776 | ) | 3,004,803 |
Core Banking | Trust and Investment Advisory Services | Insurance | Other | Consolidated Totals | ||||||||||||||||
Six Months Ended | ||||||||||||||||||||
June 30, 2016 | ||||||||||||||||||||
Net Interest Income | $ | 45,771 | $ | — | $ | 3 | $ | (319 | ) | $ | 45,455 | |||||||||
Net Gains on Sales of Loans | 1,603 | — | — | — | 1,603 | |||||||||||||||
Net Gains on Securities | 968 | — | — | — | 968 | |||||||||||||||
Trust and Investment Product Fees | 3 | 2,241 | — | — | 2,244 | |||||||||||||||
Insurance Revenues | 8 | 13 | 4,311 | — | 4,332 | |||||||||||||||
Noncash Items: | ||||||||||||||||||||
Provision for Loan Losses | 1,200 | — | — | — | 1,200 | |||||||||||||||
Depreciation and Amortization | 2,064 | 2 | 51 | 110 | 2,227 | |||||||||||||||
Income Tax Expense (Benefit) | 6,100 | 64 | 568 | (718 | ) | 6,014 | ||||||||||||||
Segment Profit (Loss) | 14,881 | 83 | 877 | (907 | ) | 14,934 | ||||||||||||||
Segment Assets at December 31, 2016 | 2,958,585 | 1,851 | 8,494 | (12,936 | ) | 2,955,994 |
Three Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
Restricted Stock Expense | $ | 342 | $ | 267 | ||||
Cash Entitlement Expense | 181 | 142 | ||||||
Tax Effect | (205 | ) | (165 | ) | ||||
Net of Tax | $ | 318 | $ | 244 |
Six Months Ended June 30, | ||||||||
2017 | 2016 | |||||||
Restricted Stock Expense | $ | 649 | $ | 855 | ||||
Cash Entitlement Expense | 340 | 284 | ||||||
Tax Effect | (388 | ) | (461 | ) | ||||
Net of Tax | $ | 601 | $ | 678 |
Fair Value Measurements at June 30, 2017 Using | ||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||||
Assets: | ||||||||||||||||
Obligations of State and Political Subdivisions | $ | — | $ | 260,523 | $ | 6,464 | $ | 266,987 | ||||||||
MBS/CMO - Residential | — | 473,238 | — | 473,238 | ||||||||||||
Equity Securities | — | — | 353 | 353 | ||||||||||||
Total Securities | $ | — | $ | 733,761 | $ | 6,817 | $ | 740,578 | ||||||||
Loans Held-for-Sale | $ | — | $ | 9,844 | $ | — | $ | 9,844 | ||||||||
Derivative Assets | $ | — | $ | 1,655 | $ | — | $ | 1,655 | ||||||||
Mortgage Servicing Rights | $ | — | $ | 575 | $ | — | $ | 575 | ||||||||
Derivative Liabilities | $ | — | $ | 1,736 | $ | — | $ | 1,736 |
Fair Value Measurements at December 31, 2016 Using | ||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||||
Assets: | ||||||||||||||||
Obligations of State and Political Subdivisions | $ | — | $ | 240,224 | $ | 7,295 | $ | 247,519 | ||||||||
MBS/CMO - Residential | — | 461,914 | — | 461,914 | ||||||||||||
Equity Securities | — | — | 353 | 353 | ||||||||||||
Total Securities | $ | — | $ | 702,138 | $ | 7,648 | $ | 709,786 | ||||||||
Loans Held-for-Sale | $ | — | $ | 15,273 | $ | — | $ | 15,273 | ||||||||
Derivative Assets | $ | — | $ | 1,291 | $ | — | $ | 1,291 | ||||||||
Mortgage Servicing Rights | $ | — | $ | 611 | $ | — | $ | 611 | ||||||||
Derivative Liabilities | $ | — | $ | 1,238 | $ | — | $ | 1,238 |
Obligations of State and Political Subdivisions | Equity Securities | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Balance of Recurring Level 3 Assets at April 1 | $ | 6,447 | $ | 8,196 | $ | 353 | $ | 353 | ||||||||
Total Gains or Losses Included in Other Comprehensive Income | 17 | 17 | — | — | ||||||||||||
Maturities / Calls | — | — | — | — | ||||||||||||
Purchases | — | — | — | — | ||||||||||||
Balance of Recurring Level 3 Assets at June 30 | $ | 6,464 | $ | 8,213 | $ | 353 | $ | 353 |
Obligations of State and Political Subdivisions | Equity Securities | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Balance of Recurring Level 3 Assets at January 1 | $ | 7,295 | $ | 9,020 | $ | 353 | $ | 353 | ||||||||
Total Gains or Losses Included in Other Comprehensive Income | 34 | 38 | — | — | ||||||||||||
Maturities / Calls | (865 | ) | (845 | ) | — | — | ||||||||||
Purchases | — | — | — | — | ||||||||||||
Balance of Recurring Level 3 Assets at June 30 | $ | 6,464 | $ | 8,213 | $ | 353 | $ | 353 |
Fair Value Measurements at June 30, 2017 Using | ||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||||
Assets: | ||||||||||||||||
Impaired Loans | ||||||||||||||||
Commercial and Industrial Loans | $ | — | $ | — | $ | 37 | $ | 37 | ||||||||
Commercial Real Estate Loans | — | — | 410 | 410 | ||||||||||||
Agricultural Loans | — | — | 158 | 158 |
Fair Value Measurements at December 31, 2016 Using | ||||||||||||||||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||||
Assets: | ||||||||||||||||
Impaired Loans | ||||||||||||||||
Commercial and Industrial Loans | $ | — | $ | — | $ | 60 | $ | 60 | ||||||||
Commercial Real Estate Loans | — | — | 348 | 348 | ||||||||||||
Agricultural Loans | — | — | — | — |
June 30, 2017 | Fair Value | Valuation Technique(s) | Unobservable Input(s) | Range (Weighted Average) | ||||||
Impaired Loans - Commercial and Industrial Loans | $ | 37 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 0%-100% (95%) | |||||
Impaired Loans - Commercial Real Estate Loans | $ | 410 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 33%-76% (52%) | |||||
Impaired Loans - Agricultural Loans | $ | 158 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 35% (35%) |
December 31, 2016 | Fair Value | Valuation Technique(s) | Unobservable Input(s) | Range (Weighted Average) | ||||||
Impaired Loans - Commercial and Industrial Loans | $ | 60 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 0%-100% (89%) | |||||
Impaired Loans - Commercial Real Estate Loans | $ | 348 | Sales comparison approach | Adjustment for physical condition of comparable properties sold | 33%-77% (56%) |
Fair Value Measurements at June 30, 2017 Using | ||||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and Short-term Investments | $ | 44,037 | $ | 36,833 | $ | 7,204 | $ | — | $ | 44,037 | ||||||||||
Loans, Net | 2,015,818 | — | — | 2,011,522 | 2,011,522 | |||||||||||||||
FHLB Stock and Other Restricted Stock | 13,048 | N/A | N/A | N/A | N/A | |||||||||||||||
Accrued Interest Receivable | 11,287 | — | 3,555 | 7,732 | 11,287 | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Demand, Savings, and Money Market Deposits | (2,011,047 | ) | (2,011,047 | ) | — | — | (2,011,047 | ) | ||||||||||||
Time Deposits | (352,274 | ) | — | (351,112 | ) | — | (351,112 | ) | ||||||||||||
Short-term Borrowings | (118,703 | ) | — | (118,703 | ) | — | (118,703 | ) | ||||||||||||
Long-term Debt | (144,766 | ) | — | (133,346 | ) | (11,110 | ) | (144,456 | ) | |||||||||||
Accrued Interest Payable | (773 | ) | — | (758 | ) | (15 | ) | (773 | ) |
Fair Value Measurements at December 31, 2016 Using | ||||||||||||||||||||
Carrying Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and Short-term Investments | $ | 64,816 | $ | 48,467 | $ | 16,349 | $ | — | $ | 64,816 | ||||||||||
Loans, Net | 1,974,074 | — | — | 1,980,523 | 1,980,523 | |||||||||||||||
FHLB Stock and Other Restricted Stock | 13,048 | N/A | N/A | N/A | N/A | |||||||||||||||
Accrued Interest Receivable | 11,413 | — | 3,289 | 8,124 | 11,413 | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Demand, Savings, and Money Market Deposits | (1,971,370 | ) | (1,971,370 | ) | — | — | (1,971,370 | ) | ||||||||||||
Time Deposits | (378,181 | ) | — | (378,000 | ) | — | (378,000 | ) | ||||||||||||
Short-term Borrowings | (137,554 | ) | — | (137,554 | ) | — | (137,554 | ) | ||||||||||||
Long-term Debt | (120,560 | ) | — | (109,709 | ) | (10,793 | ) | (120,502 | ) | |||||||||||
Accrued Interest Payable | (789 | ) | — | (775 | ) | (14 | ) | (789 | ) |
June 30, 2017 | Unrealized Gains and Losses on Available-for-Sale Securities | Postretirement Benefit Items | Total | |||||||||
Beginning Balance at April 1, 2017 | $ | (2,314 | ) | $ | (92 | ) | $ | (2,406 | ) | |||
Other Comprehensive Income (Loss) Before Reclassification | 6,566 | — | 6,566 | |||||||||
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | — | — | — | |||||||||
Net Current Period Other Comprehensive Income (Loss) | 6,566 | — | 6,566 | |||||||||
Ending Balance at June 30, 2017 | $ | 4,252 | $ | (92 | ) | $ | 4,160 |
June 30, 2017 | Unrealized Gains and Losses on Available-for-Sale Securities | Postretirement Benefit Items | Total | |||||||||
Beginning Balance at January 1, 2017 | $ | (6,312 | ) | $ | (92 | ) | $ | (6,404 | ) | |||
Other Comprehensive Income (Loss) Before Reclassification | 10,564 | — | 10,564 | |||||||||
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | — | — | — | |||||||||
Net Current Period Other Comprehensive Income (Loss) | 10,564 | — | 10,564 | |||||||||
Ending Balance at June 30, 2017 | $ | 4,252 | $ | (92 | ) | $ | 4,160 |
June 30, 2016 | Unrealized Gains and Losses on Available-for-Sale Securities | Postretirement Benefit Items | Total | |||||||||
Beginning Balance at April 1, 2016 | $ | 7,919 | $ | (78 | ) | $ | 7,841 | |||||
Other Comprehensive Income (Loss) Before Reclassification | 3,983 | — | 3,983 | |||||||||
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | (629 | ) | — | (629 | ) | |||||||
Net Current Period Other Comprehensive Income (Loss) | 3,354 | — | 3,354 | |||||||||
Ending Balance at June 30, 2016 | $ | 11,273 | $ | (78 | ) | $ | 11,195 |
June 30, 2016 | Unrealized Gains and Losses on Available-for-Sale Securities | Postretirement Benefit Items | Total | |||||||||
Beginning Balance at January 1, 2016 | $ | 3,890 | $ | (78 | ) | $ | 3,812 | |||||
Other Comprehensive Income (Loss) Before Reclassification | 8,012 | — | 8,012 | |||||||||
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | (629 | ) | — | (629 | ) | |||||||
Net Current Period Other Comprehensive Income (Loss) | 7,383 | — | 7,383 | |||||||||
Ending Balance at June 30, 2016 | $ | 11,273 | $ | (78 | ) | $ | 11,195 |
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Statement Where Net Income is Presented | ||||
Unrealized Gains and Losses on Available-for-Sale Securities | $ | — | Net Gains on Securities | |||
— | Income Tax Expense | |||||
— | Net of Tax | |||||
Total Reclassifications for the Three Months Ended June 30, 2017 | $ | — |
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Statement Where Net Income is Presented | ||||
Unrealized Gains and Losses on Available-for-Sale Securities | $ | — | Net Gains on Securities | |||
— | Income Tax Expense | |||||
— | Net of Tax | |||||
Total Reclassifications for the Six Months Ended June 30, 2017 | $ | — |
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Statement Where Net Income is Presented | ||||
Unrealized Gains and Losses on Available-for-Sale Securities | $ | 968 | Net Gains on Securities | |||
(339 | ) | Income Tax Expense | ||||
629 | Net of Tax | |||||
Total Reclassifications for the Three Months Ended June 30, 2016 | $ | 629 |
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Statement Where Net Income is Presented | ||||
Unrealized Gains and Losses on Available-for-Sale Securities | $ | 968 | Net Gains on Securities | |||
(339 | ) | Income Tax Expense | ||||
629 | Net of Tax | |||||
Total Reclassifications for the Six Months Ended June 30, 2016 | $ | 629 |
• | Debt Prepayment or Debt Extinguishment Costs; |
• | Settlement of Zero-Coupon Bonds or Debt with Coupon Interest Rates That Are Insignificant in Relation to the Effective Interest Rate; |
• | Contingent Consideration payments Made Soon After a Business Combination; |
• | Proceeds From the Settlement of Insurance Claims; |
• | Proceeds From the Settlement of BOLI and COLI Policies; |
• | Distributions Received From Equity Method Investees; |
• | Beneficial Interests in Securitization Transactions; and |
• | Application of the Predominance Principle. |
Average Balance Sheet (Tax-equivalent basis / dollars in thousands) | ||||||||||||||||||||||
Three Months Ended June 30, 2017 | Three Months Ended June 30, 2016 | |||||||||||||||||||||
Principal Balance | Income / Expense | Yield / Rate | Principal Balance | Income / Expense | Yield / Rate | |||||||||||||||||
ASSETS | ||||||||||||||||||||||
Federal Funds Sold and Other Short-term Investments | $ | 13,268 | $ | 27 | 0.79 | % | $ | 25,918 | $ | 20 | 0.30 | % | ||||||||||
Securities: | ||||||||||||||||||||||
Taxable | 481,556 | 2,702 | 2.24 | % | 483,465 | 2,287 | 1.89 | % | ||||||||||||||
Non-taxable | 261,798 | 3,185 | 4.87 | % | 239,757 | 2,881 | 4.81 | % | ||||||||||||||
Total Loans and Leases(2) | 2,011,518 | 22,780 | 4.54 | % | 1,935,246 | 22,791 | 4.73 | % | ||||||||||||||
TOTAL INTEREST EARNING ASSETS | 2,768,140 | 28,694 | 4.15 | % | 2,684,386 | 27,979 | 4.19 | % | ||||||||||||||
Other Assets | 218,038 | 216,089 | ||||||||||||||||||||
Less: Allowance for Loan Losses | (15,433 | ) | (15,310 | ) | ||||||||||||||||||
TOTAL ASSETS | $ | 2,970,745 | $ | 2,885,165 | ||||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||||
Interest-bearing Demand, Savings and Money Market Deposits | $ | 1,446,994 | $ | 939 | 0.26 | % | $ | 1,369,446 | $ | 672 | 0.20 | % | ||||||||||
Time Deposits | 360,938 | 687 | 0.76 | % | 426,917 | 654 | 0.62 | % | ||||||||||||||
FHLB Advances and Other Borrowings | 233,197 | 962 | 1.65 | % | 235,435 | 853 | 1.46 | % | ||||||||||||||
TOTAL INTEREST-BEARING LIABILITIES | 2,041,129 | 2,588 | 0.51 | % | 2,031,798 | 2,179 | 0.43 | % | ||||||||||||||
Demand Deposit Accounts | 560,763 | 502,070 | ||||||||||||||||||||
Other Liabilities | 21,818 | 25,543 | ||||||||||||||||||||
TOTAL LIABILITIES | 2,623,710 | 2,559,411 | ||||||||||||||||||||
Shareholders’ Equity | 347,035 | 325,754 | ||||||||||||||||||||
TOTAL LIBABILITIES AND SHAREHOLDERS' EQUITY | $ | 2,970,745 | $ | 2,885,165 | ||||||||||||||||||
COST OF FUNDS | 0.37 | % | 0.33 | % | ||||||||||||||||||
NET INTEREST INCOME | $ | 26,106 | $ | 25,800 | ||||||||||||||||||
NET INTEREST MARGIN | 3.78 | % | 3.86 | % |
(1) | Effective tax rates were determined as though interest earned on the Company’s investments in municipal bonds and loans was fully taxable. |
(2) | Loans held-for-sale and non-accruing loans have been included in average loans. |
Average Balance Sheet (Tax-equivalent basis / dollars in thousands) | ||||||||||||||||||||||
Six Months Ended June 30, 2017 | Six Months Ended June 30, 2016 | |||||||||||||||||||||
Principal Balance | Income / Expense | Yield / Rate | Principal Balance | Income / Expense | Yield / Rate | |||||||||||||||||
ASSETS | ||||||||||||||||||||||
Federal Funds Sold and Other Short-term Investments | $ | 12,913 | $ | 54 | 0.83 | % | $ | 23,148 | $ | 37 | 0.32 | % | ||||||||||
Securities: | ||||||||||||||||||||||
Taxable | 480,720 | 5,421 | 2.26 | % | 481,447 | 4,564 | 1.90 | % | ||||||||||||||
Non-taxable | 256,924 | 6,300 | 4.90 | % | 228,252 | 5,530 | 4.85 | % | ||||||||||||||
Total Loans and Leases(2) | 1,993,283 | 45,220 | 4.57 | % | 1,814,944 | 41,546 | 4.60 | % | ||||||||||||||
TOTAL INTEREST EARNING ASSETS | 2,743,840 | 56,995 | 4.18 | % | 2,547,791 | 51,677 | 4.07 | % | ||||||||||||||
Other Assets | 219,923 | 191,077 | ||||||||||||||||||||
Less: Allowance for Loan Losses | (15,220 | ) | (14,936 | ) | ||||||||||||||||||
TOTAL ASSETS | $ | 2,948,543 | $ | 2,723,932 | ||||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||||
Interest-bearing Demand, Savings and Money Market Deposits | $ | 1,416,341 | $ | 1,677 | 0.24 | % | $ | 1,256,441 | $ | 1,136 | 0.18 | % | ||||||||||
Time Deposits | 380,935 | 1,392 | 0.74 | % | 413,635 | 1,345 | 0.65 | % | ||||||||||||||
FHLB Advances and Other Borrowings | 230,009 | 1,827 | 1.60 | % | 239,232 | 1,594 | 1.34 | % | ||||||||||||||
TOTAL INTEREST-BEARING LIABILITIES | 2,027,285 | 4,896 | 0.49 | % | 1,909,308 | 4,075 | 0.43 | % | ||||||||||||||
Demand Deposit Accounts | 559,345 | 484,793 | ||||||||||||||||||||
Other Liabilities | 20,570 | 24,831 | ||||||||||||||||||||
TOTAL LIABILITIES | 2,607,200 | 2,418,932 | ||||||||||||||||||||
Shareholders’ Equity | 341,343 | 305,000 | ||||||||||||||||||||
TOTAL LIBABILITIES AND SHAREHOLDERS' EQUITY | $ | 2,948,543 | $ | 2,723,932 | ||||||||||||||||||
COST OF FUNDS | 0.36 | % | 0.32 | % | ||||||||||||||||||
NET INTEREST INCOME | $ | 52,099 | $ | 47,602 | ||||||||||||||||||
NET INTEREST MARGIN | 3.82 | % | 3.75 | % |
(1) | Effective tax rates were determined as though interest earned on the Company’s investments in municipal bonds and loans was fully taxable. |
(2) | Loans held-for-sale and non-accruing loans have been included in average loans. |
Non-interest Income (dollars in thousands) | Three Months Ended June 30, | Change From Prior Period | |||||||||||||
Amount | Percent | ||||||||||||||
2017 | 2016 | Change | Change | ||||||||||||
Trust and Investment Product Fees | $ | 1,350 | $ | 1,223 | $ | 127 | 10 | % | |||||||
Service Charges on Deposit Accounts | 1,478 | 1,534 | (56 | ) | (4 | ) | |||||||||
Insurance Revenues | 1,744 | 1,605 | 139 | 9 | |||||||||||
Company Owned Life Insurance | 480 | 247 | 233 | 94 | |||||||||||
Interchange Fee Income | 1,156 | 873 | 283 | 32 | |||||||||||
Other Operating Income | 630 | 722 | (92 | ) | (13 | ) | |||||||||
Subtotal | 6,838 | 6,204 | 634 | 10 | |||||||||||
Net Gains on Sales of Loans | 959 | 883 | 76 | 9 | |||||||||||
Net Gains on Securities | — | 968 | (968 | ) | (100 | ) | |||||||||
Total Non-interest Income | $ | 7,797 | $ | 8,055 | $ | (258 | ) | (3 | ) |
Non-interest Income (dollars in thousands) | Six Months Ended June 30, | Change From Prior Period | |||||||||||||
Amount | Percent | ||||||||||||||
2017 | 2016 | Change | Change | ||||||||||||
Trust and Investment Product Fees | $ | 2,593 | $ | 2,244 | $ | 349 | 16 | % | |||||||
Service Charges on Deposit Accounts | 2,962 | 2,767 | 195 | 7 | |||||||||||
Insurance Revenues | 4,384 | 4,332 | 52 | 1 | |||||||||||
Company Owned Life Insurance | 734 | 462 | 272 | 59 | |||||||||||
Interchange Fee Income | 2,179 | 1,661 | 518 | 31 | |||||||||||
Other Operating Income | 1,487 | 1,235 | 252 | 20 | |||||||||||
Subtotal | 14,339 | 12,701 | 1,638 | 13 | |||||||||||
Net Gains on Sales of Loans | 1,646 | 1,603 | 43 | 3 | |||||||||||
Net Gains on Securities | — | 968 | (968 | ) | (100 | ) | |||||||||
Total Non-interest Income | $ | 15,985 | $ | 15,272 | $ | 713 | 5 |
Non-interest Expense (dollars in thousands) | Three Months Ended June 30, | Change From Prior Period | |||||||||||||
Amount | Percent | ||||||||||||||
2017 | 2016 | Change | Change | ||||||||||||
Salaries and Employee Benefits | $ | 11,460 | $ | 10,184 | $ | 1,276 | 13 | % | |||||||
Occupancy, Furniture and Equipment Expense | 2,224 | 2,218 | 6 | — | |||||||||||
FDIC Premiums | 232 | 339 | (107 | ) | (32 | ) | |||||||||
Data Processing Fees | 1,044 | 1,181 | (137 | ) | (12 | ) | |||||||||
Professional Fees | 913 | 780 | 133 | 17 | |||||||||||
Advertising and Promotion | 630 | 629 | 1 | — | |||||||||||
Intangible Amortization | 242 | 312 | (70 | ) | (22 | ) | |||||||||
Other Operating Expenses | 2,251 | 2,696 | (445 | ) | (17 | ) | |||||||||
Total Non-interest Expense | $ | 18,996 | $ | 18,339 | $ | 657 | 4 |
Non-interest Expense (dollars in thousands) | Six Months Ended June 30, | Change From Prior Period | |||||||||||||
Amount | Percent | ||||||||||||||
2017 | 2016 | Change | Change | ||||||||||||
Salaries and Employee Benefits | $ | 22,904 | $ | 21,785 | $ | 1,119 | 5 | % | |||||||
Occupancy, Furniture and Equipment Expense | 4,406 | 4,105 | 301 | 7 | |||||||||||
FDIC Premiums | 471 | 667 | (196 | ) | (29 | ) | |||||||||
Data Processing Fees | 2,055 | 3,346 | (1,291 | ) | (39 | ) | |||||||||
Professional Fees | 1,716 | 2,098 | (382 | ) | (18 | ) | |||||||||
Advertising and Promotion | 1,408 | 1,173 | 235 | 20 | |||||||||||
Intangible Amortization | 495 | 520 | (25 | ) | (5 | ) | |||||||||
Other Operating Expenses | 4,577 | 4,885 | (308 | ) | (6 | ) | |||||||||
Total Non-interest Expense | $ | 38,032 | $ | 38,579 | $ | (547 | ) | (1 | ) |
End of Period Loan Balances: (dollars in thousands) | June 30, 2017 | December 31, 2016 | Current Period Change | |||||||||
Commercial & Industrial Loans and Leases | $ | 467,754 | $ | 457,372 | $ | 10,382 | ||||||
Commercial Real Estate Loans | 870,100 | 856,094 | 14,006 | |||||||||
Agricultural Loans | 313,254 | 303,128 | 10,126 | |||||||||
Home Equity & Consumer Loans | 202,562 | 193,520 | 9,042 | |||||||||
Residential Mortgage Loans | 181,477 | 183,290 | (1,813 | ) | ||||||||
Total Loans | $ | 2,035,147 | $ | 1,993,404 | $ | 41,743 |
June 30, 2017 | December 31, 2016 | |||||||
Commercial and Industrial Loans and Leases | $ | 3,672 | $ | 3,725 | ||||
Commercial Real Estate Loans | 5,316 | 5,452 | ||||||
Agricultural Loans | 4,829 | 4,094 | ||||||
Home Equity and Consumer Loans | 554 | 518 | ||||||
Residential Mortgage Loans | 353 | 329 | ||||||
Unallocated | 596 | 690 | ||||||
Total Allowance for Loan Loss | $ | 15,320 | $ | 14,808 |
Non-performing Assets: (dollars in thousands) | June 30, 2017 | December 31, 2016 | ||||||
Non-accrual Loans | $ | 3,097 | $ | 3,793 | ||||
Past Due Loans (90 days or more) | 62 | 2 | ||||||
Total Non-performing Loans | 3,159 | 3,795 | ||||||
Other Real Estate | 1,289 | 242 | ||||||
Total Non-performing Assets | $ | 4,448 | $ | 4,037 | ||||
Restructured Loans | $ | 154 | $ | 28 | ||||
Non-performing Loans to Total Loans | 0.16 | % | 0.19 | % | ||||
Allowance for Loan Loss to Non-performing Loans | 484.96 | % | 390.20 | % |
Non-Accrual Loans | Loans Past Due 90 Days or More & Still Accruing | |||||||||||||||
June 30, 2017 | December 31, 2016 | June 30, 2017 | December 31, 2016 | |||||||||||||
Commercial and Industrial Loans and Leases | $ | 60 | $ | 86 | $ | — | $ | 2 | ||||||||
Commercial Real Estate Loans | 982 | 1,408 | 32 | — | ||||||||||||
Agricultural Loans | 878 | 792 | 30 | — | ||||||||||||
Home Equity Loans | 72 | 73 | — | — | ||||||||||||
Consumer Loans | 433 | 85 | — | — | ||||||||||||
Residential Mortgage Loans | 672 | 1,349 | — | — | ||||||||||||
Total | $ | 3,097 | $ | 3,793 | $ | 62 | $ | 2 |
End of Period Deposit Balances: (dollars in thousands) | June 30, 2017 | December 31, 2016 | Current Period Change | |||||||||
Non-interest-bearing Demand Deposits | $ | 557,535 | $ | 571,989 | $ | (14,454 | ) | |||||
Interest-bearing Demand, Savings, & Money Market Accounts | 1,453,512 | 1,399,381 | 54,131 | |||||||||
Time Deposits < $100,000 | 203,923 | 207,824 | (3,901 | ) | ||||||||
Time Deposits of $100,000 or more | 148,351 | 170,357 | (22,006 | ) | ||||||||
Total Deposits | $ | 2,363,321 | $ | 2,349,551 | $ | 13,770 |
6/30/2017 Ratio | 12/31/2016 Ratio | Minimum for Capital Adequacy Purposes | Well-Capitalized Guidelines | |||||||||
Total Capital (to Risk Weighted Assets) | ||||||||||||
Consolidated | 13.56 | % | 13.30 | % | 8.00 | % | N/A | |||||
Bank | 12.17 | % | 12.48 | % | 8.00 | % | 10.00 | % | ||||
Tier 1 (Core) Capital (to Risk Weighted Assets) | ||||||||||||
Consolidated | 12.92 | % | 12.66 | % | 6.00 | % | N/A | |||||
Bank | 11.52 | % | 11.84 | % | 6.00 | % | 8.00 | % | ||||
Common Tier 1, (CET 1) Capital Ratio (to Risk Weighted Assets) | ||||||||||||
Consolidated | 12.46 | % | 12.19 | % | 4.50 | % | N/A | |||||
Bank | 11.52 | % | 11.84 | % | 4.50 | % | 6.50 | % | ||||
Tier 1 Capital (to Average Assets) | ||||||||||||
Consolidated | 10.52 | % | 10.09 | % | 4.00 | % | N/A | |||||
Bank | 9.39 | % | 9.46 | % | 4.00 | % | 5.00 | % |
Net Interest Income | ||||||||
Changes in Rates | Amount | % Change | ||||||
+2% | $ | 98,356 | (3.01 | )% | ||||
+1% | 99,931 | (1.46 | )% | |||||
Base | 101,410 | — | ||||||
-1% | 96,447 | (4.89 | )% | |||||
-2% | 92,903 | (8.39 | )% |
Net Portfolio Value | Net Portfolio Value as a % of Present Value of Assets | ||||||||||||
Changes in Rates | Amount | % Change | NPV Ratio | Change | |||||||||
+2% | $ | 366,174 | (8.55 | )% | 13.10 | % | (52) b.p. | ||||||
+1% | 385,019 | (3.84 | )% | 13.43 | % | (19) b.p. | |||||||
Base | 400,394 | — | 13.62 | % | — | ||||||||
-1% | 380,287 | (5.02 | )% | 12.68 | % | (94) b.p. | |||||||
-2% | 318,297 | (20.50 | )% | 10.51 | % | (311) b.p. |
Period | Total Number of Shares (or Units) Purchased | Average Price Paid Per Share (or Unit) | Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased under the Plans or Programs (1) | ||||||||
April 2017 | — | — | — | 409,184 | ||||||||
May 2017 | — | — | — | 409,184 | ||||||||
June 2017 | — | — | — | 409,184 |
GERMAN AMERICAN BANCORP, INC. | |
Date: August 4, 2017 | By/s/Mark A. Schroeder |
Mark A. Schroeder | |
Chairman and Chief Executive Officer | |
(Principal Executive Officer) | |
Date: August 4, 2017 | By/s/Bradley M. Rust |
Bradley M. Rust | |
Executive Vice President and Chief Financial Officer | |
(Principal Financial and Accounting Officer) |
Exhibit No. | Description | |
3.1 | Restatement of the Articles of Incorporation of German American Bancorp, Inc., as amended, is incorporated by reference to Exhibit 3.1 of the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 filed on May 9, 2017 (SEC File No. 001-15877). | |
3.2 | Restated Bylaws of German American Bancorp, Inc., as amended and restated July 27, 2009, is incorporated by reference to Exhibit 3.2 of the Registrant's Annual Report on Form 10-K filed March 9, 2015 (SEC File No. 001-15877). | |
4.1 | No long-term debt instrument issued by the Registrant exceeds 10% of consolidated total assets or is registered. In accordance with paragraph 4 (iii) of Item 601(b) of Regulation S-K, the Registrant will furnish the Securities and Exchange Commission copies of long-term debt instruments and related agreements upon request. | |
4.2 | Terms of Common Shares and Preferred Shares of the Registrant (included in Restatement of Articles of Incorporation) are incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed July 1, 2011 (SEC File No. 001-15877). | |
4.3 | Specimen stock certificate for Common Shares of the Registrant is incorporated by reference to Exhibit 99.1 to the Registrant's Current Report on Form 8-K filed October 21, 2010 (SEC File No. 001-15877). | |
4.4 | Description of Assumed Junior Deferrable Interest Subordinated Debentures of River Valley Bancorp and Agreement to Furnish Copies of Related Instruments and Documents are incorporated by reference to Exhibit 4.4 of the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 filed on May 10, 2016 (SEC File No. 001-15877). | |
10.1* | Description of Director Compensation Arrangements for the twelve-month period ending June 30, 2018 is incorporated by reference from the description included in Item 5.02 of the Registrant’s Current Report on Form 8-K filed June 29, 2017 (SEC File No. 001-15877). | |
31.1** | Sarbanes-Oxley Act of 2002, Section 302 Certification for Chairman of the Board and Chief Executive Officer. | |
31.2** | Sarbanes-Oxley Act of 2002, Section 302 Certification for Executive Vice President and Chief Financial Officer. | |
32.1** | Sarbanes-Oxley Act of 2002, Section 906 Certification for Chairman of the Board and Chief Executive Officer. | |
32.2** | Sarbanes-Oxley Act of 2002, Section 906 Certification for Executive Vice President and Chief Financial Officer. | |
101+ | The following materials from German American Bancorp, Inc.’s Form 10-Q Report for the quarterly period ended June 30, 2017, formatted in XBRL: (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income, (iii) the Consolidated Statements of Comprehensive Income, (iv) the Consolidated Statements of Cash Flows, and (v) the Notes to Consolidated Financial Statements. |
1. | I have reviewed this Quarterly Report on Form 10-Q of German American Bancorp, Inc. (the “registrant”): |
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 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 officer 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: |
5. | The registrant's other certifying officer 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): |
1. | I have reviewed this Quarterly Report on Form 10-Q of German American Bancorp, Inc. (the “registrant”): |
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 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 officer 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: |
5. | The registrant's other certifying officer 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): |
1. | The Quarterly Report on Form 10-Q for the quarter ended June 30, 2017 (the “Periodic Report”), which this statement accompanies, fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78m); and |
2. | Information contained in the Periodic Report fairly presents, in all material respects, the financial condition and results of operations of German American Bancorp, Inc. |
1. | The Quarterly Report on Form 10-Q for the quarter ended June 30, 2017 (the “Periodic Report”), which this statement accompanies, fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78m); and |
2. | Information contained in the Periodic Report fairly presents, in all material respects, the financial condition and results of operations of German American Bancorp, Inc. |
Document And Entity Information - shares |
6 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Aug. 01, 2017 |
|
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2017 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | GABC | |
Entity Common Stock, Shares Outstanding | 22,929,807 | |
Entity Registrant Name | GERMAN AMERICAN BANCORP, INC. | |
Entity Central Index Key | 0000714395 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares |
Jun. 30, 2017 |
Dec. 31, 2016 |
||
---|---|---|---|---|
Statement of Financial Position [Abstract] | ||||
Preferred Stock, shares authorized (shares) | 500,000 | 500,000 | ||
Preferred Stock, shares issued (shares) | 0 | 0 | ||
Common Stock, stated value (USD per share) | $ 1 | $ 1 | ||
Common Stock, shares authorized (shares) | [1] | 45,000,000 | 45,000,000 | |
|
CONSOLIDATED STATEMENTS OF INCOME $ in Thousands |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Jun. 30, 2017
USD ($)
$ / shares
|
Jun. 30, 2016
USD ($)
$ / shares
|
Jun. 30, 2017
USD ($)
$ / shares
|
Jun. 30, 2016
USD ($)
$ / shares
|
||||
INTEREST INCOME | |||||||
Interest and Fees on Loans | $ 22,602 | $ 22,670 | $ 44,864 | $ 41,334 | |||
Interest on Federal Funds Sold and Other Short-term Investments | 27 | 20 | 54 | 37 | |||
Interest and Dividends on Securities: | |||||||
Taxable | 2,702 | 2,287 | 5,421 | 4,564 | |||
Non-taxable | 2,070 | 1,873 | 4,095 | 3,595 | |||
TOTAL INTEREST INCOME | 27,401 | 26,850 | 54,434 | 49,530 | |||
INTEREST EXPENSE | |||||||
Interest on Deposits | 1,626 | 1,326 | 3,069 | 2,481 | |||
Interest on FHLB Advances and Other Borrowings | 962 | 853 | 1,827 | 1,594 | |||
TOTAL INTEREST EXPENSE | 2,588 | 2,179 | 4,896 | 4,075 | |||
NET INTEREST INCOME | 24,813 | 24,671 | 49,538 | 45,455 | |||
Provision for Loan Losses | 350 | 350 | 850 | 1,200 | |||
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 24,463 | 24,321 | 48,688 | 44,255 | |||
NON-INTEREST INCOME | |||||||
Trust and Investment Product Fees | 1,350 | 1,223 | 2,593 | 2,244 | |||
Service Charges on Deposit Accounts | 1,478 | 1,534 | 2,962 | 2,767 | |||
Insurance Revenues | 1,744 | 1,605 | 4,384 | 4,332 | |||
Company Owned Life Insurance | 480 | 247 | 734 | 462 | |||
Interchange Fee Income | 1,156 | 873 | 2,179 | 1,661 | |||
Other Operating Income | 630 | 722 | 1,487 | 1,235 | |||
Net Gains on Sales of Loans | 959 | 883 | 1,646 | 1,603 | |||
Net Gains on Securities | 0 | 968 | 0 | 968 | |||
TOTAL NON-INTEREST INCOME | 7,797 | 8,055 | 15,985 | 15,272 | |||
NON-INTEREST EXPENSE | |||||||
Salaries and Employee Benefits | 11,460 | 10,184 | 22,904 | 21,785 | |||
Occupancy Expense | 1,570 | 1,614 | 3,119 | 2,993 | |||
Furniture and Equipment Expense | 654 | 604 | 1,287 | 1,112 | |||
FDIC Premiums | 232 | 339 | 471 | 667 | |||
Data Processing Fees | 1,044 | 1,181 | 2,055 | 3,346 | |||
Professional Fees | 913 | 780 | 1,716 | 2,098 | |||
Advertising and Promotion | 630 | 629 | 1,408 | 1,173 | |||
Intangible Amortization | 242 | 312 | 495 | 520 | |||
Other Operating Expenses | 2,251 | 2,696 | 4,577 | 4,885 | |||
TOTAL NON-INTEREST EXPENSE | 18,996 | 18,339 | 38,032 | 38,579 | |||
Income before Income Taxes | 13,264 | 14,037 | 26,641 | 20,948 | |||
Income Tax Expense | 3,425 | 4,249 | 7,246 | 6,014 | |||
NET INCOME | $ 9,839 | $ 9,788 | $ 19,395 | $ 14,934 | |||
Basic Earnings Per Share (USD per share) | $ / shares | [1] | $ 0.43 | $ 0.43 | $ 0.85 | $ 0.68 | ||
Diluted Earnings Per Share (USD per share) | $ / shares | [1] | 0.43 | 0.43 | 0.85 | 0.68 | ||
Dividends Per Share (USD per share) | $ / shares | [1] | $ 0.13 | $ 0.12 | $ 0.26 | $ 0.24 | ||
|
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Statement of Comprehensive Income [Abstract] | ||||
NET INCOME | $ 9,839 | $ 9,788 | $ 19,395 | $ 14,934 |
Unrealized Gains on Securities | ||||
Unrealized Holding Gain Arising During the Period | 10,133 | 6,134 | 16,312 | 12,343 |
Reclassification Adjustment for Losses (Gains) Included in Net Income | 0 | (968) | 0 | (968) |
Tax Effect | (3,567) | (1,812) | (5,748) | (3,992) |
Net of Tax | 6,566 | 3,354 | 10,564 | 7,383 |
Total Other Comprehensive Income | 6,566 | 3,354 | 10,564 | 7,383 |
COMPREHENSIVE INCOME | $ 16,405 | $ 13,142 | $ 29,959 | $ 22,317 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
|
CASH FLOWS FROM OPERATING ACTIVITIES | ||
NET INCOME | $ 19,395 | $ 14,934 |
Adjustments to Reconcile Net Income to Net Cash from Operating Activities: | ||
Net Amortization on Securities | 1,669 | 1,884 |
Depreciation and Amortization | 2,317 | 2,227 |
Loans Originated for Sale | (57,304) | (53,059) |
Proceeds from Sales of Loans Held-for-Sale | 64,286 | 60,430 |
Provision for Loan Losses | 850 | 1,200 |
Gain on Sale of Loans, net | (1,646) | (1,603) |
Gain on Securities, net | 0 | (968) |
Loss (Gain) on Sales of Other Real Estate and Repossessed Assets | (7) | 1 |
Loss on Disposition and Donation of Premises and Equipment | 2 | 5 |
Increase in Cash Surrender Value of Company Owned Life Insurance | (759) | (502) |
Equity Based Compensation | 637 | 528 |
Change in Assets and Liabilities: | ||
Interest Receivable and Other Assets | (196) | 5,736 |
Interest Payable and Other Liabilities | (751) | (2,307) |
Net Cash from Operating Activities | 28,493 | 28,506 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of Other Short-term Investments | 0 | (1,000) |
Proceeds from Maturity of Other Short-term Investments | 0 | 248 |
Proceeds from Maturities, Calls, Redemptions of Securities Available-for-Sale | 40,792 | 46,809 |
Proceeds from Sales of Securities Available-for-Sale | 0 | 105,339 |
Purchase of Securities Available-for-Sale | (56,941) | (91,368) |
Proceeds from Maturities of Securities Held-to-Maturity | 0 | 95 |
Purchase of Federal Home Loan Bank Stock | 0 | (1,350) |
Purchase of Loans | (59) | (4,488) |
Loans Made to Customers, net of Payments Received | (43,297) | (74,838) |
Proceeds from Sales of Other Real Estate | 190 | 869 |
Property and Equipment Expenditures | (3,302) | (1,504) |
Acquisition of River Valley Bancorp | 0 | (793) |
Net Cash from Investing Activities | (62,617) | (21,981) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Change in Deposits | 13,909 | 45,673 |
Change in Short-term Borrowings | (18,851) | (24,888) |
Advances in Long-term Debt | 50,000 | 0 |
Repayments of Long-term Debt | (25,804) | (20,096) |
Payments for common stock | (29) | |
Issuance of Common Stock | 54 | |
Dividends Paid | (5,880) | (5,137) |
Net Cash from Financing Activities | 13,345 | (4,394) |
Net Change in Cash and Cash Equivalents | (20,779) | 2,131 |
Cash and Cash Equivalents at Beginning of Year | 64,816 | 52,009 |
Cash and Cash Equivalents at End of Period | 44,037 | 54,140 |
Cash Paid During the Period for | ||
Interest | 4,913 | 3,901 |
Income Taxes | 7,239 | 5,133 |
Supplemental Non Cash Disclosures | ||
Loans Transferred to Other Real Estate | 1,230 | 10 |
Reclassification of Land to Other Assets | $ 330 | $ 0 |
Basis of Presentation |
6 Months Ended |
---|---|
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation German American Bancorp, Inc. operates primarily in the banking industry. The accounting and reporting policies of German American Bancorp, Inc. and its subsidiaries (hereinafter collectively referred to as the "Company") conform to U.S. generally accepted accounting principles. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the periods reported have been included in the accompanying unaudited consolidated financial statements, and all such adjustments are of a normal recurring nature. It is suggested that these consolidated financial statements and notes be read in conjunction with the financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended December 31, 2016. Certain items included in the prior period financial statements were reclassified to conform to the current presentation. There was no effect on net income or total shareholders' equity based on these reclassifications. |
Common Stock Split |
6 Months Ended |
---|---|
Jun. 30, 2017 | |
Equity [Abstract] | |
Common Stock Split | Common Stock Split On March 27, 2017, the Company declared a 3-for-2 stock split on the Company's authorized and outstanding common shares. The stock split was distributed on April 21, 2017, to shareholders of record as of April 6, 2017. All share and per share data in this Quarterly Report on Form 10-Q relating to a date or period that precedes April 21, 2017 have been adjusted to retroactively reflect the stock split. Stock Repurchase Plan On April 26, 2001, the Company announced that its Board of Directors approved a stock repurchase program for up to 911,631 of the outstanding shares of common stock of the Company. Shares may be purchased from time to time in the open market and in large block privately negotiated transactions. The Company is not obligated to purchase any shares under the program, and the program may be discontinued at any time before the maximum number of shares specified by the program are purchased. The Board of Directors established no expiration date for this program. As of June 30, 2017, the Company had purchased 502,447 shares under the program. No shares were purchased under the program during the three or six months ended June 30, 2017 and 2016. |
Per Share Data |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Per Share Data | Per Share Data The computation of Basic Earnings per Share and Diluted Earnings per Share are as follows:
For the three months ended June 30, 2017 and 2016, there were no anti-dilutive shares.
(1) Share and per share data has been adjusted to reflect a 3-for-2 stock split on April 21, 2017. For the six months ended June 30, 2017 and 2016, there were no anti-dilutive shares. |
Securities |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of Securities Available-for-Sale at June 30, 2017 and December 31, 2016, were as follows:
Equity securities that do not have readily determinable fair values are included in the above totals, are carried at historical cost and are evaluated for impairment on a periodic basis. All mortgage-backed securities in the above table are residential mortgage-backed securities and guaranteed by government sponsored entities. The amortized cost and fair value of securities at June 30, 2017 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because some issuers have the right to call or prepay certain obligations with or without call or prepayment penalties. Mortgage-backed and Equity Securities are not due at a single maturity date and are shown separately in the table below.
Proceeds from the Sales of Securities are summarized below:
The carrying value of securities pledged to secure repurchase agreements, public and trust deposits, and for other purposes as required by law was $174,047 and $186,572 as of June 30, 2017 and December 31, 2016, respectively. Below is a summary of securities with unrealized losses as of June 30, 2017 and December 31, 2016, presented by length of time the securities have been in a continuous unrealized loss position:
Securities are written down to fair value when a decline in fair value is not considered temporary. In estimating other-than-temporary losses, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The Company does not intend to sell or expect to be required to sell these securities, and the decline in fair value is largely due to changes in market interest rates. Therefore, the Company does not consider these securities to be other-than-temporarily impaired. All mortgage-backed securities and collateralized mortgage obligations (MBS/CMO - Residential) in the Company’s portfolio are guaranteed by government sponsored entities, are investment grade, and are performing as expected. The Company's equity securities consist of one non-controlling investment in a single banking organization at June 30, 2017 and December 31, 2016. The original investment totaled $1,350 and other-than-temporary impairment was previously recorded totaling $997. When a decline in fair value below cost is deemed to be other-than-temporary, the unrealized loss must be recognized as a charge to earnings. |
Derivatives |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives | Derivatives The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. The notional amounts of these interest rate swaps and the offsetting counterparty derivative instruments were $84.5 million at June 30, 2017 and $67.9 million at December 31, 2016. These interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions with approved, reputable, independent counterparties with substantially matching terms. The agreements are considered stand alone derivatives and changes in the fair value of derivatives are reported in earnings as non-interest income. Credit risk arises from the possible inability of counterparties to meet the terms of their contracts. The Company’s exposure is limited to the replacement value of the contracts rather than the notional, principal or contract amounts. There are provisions in the agreements with the counterparties that allow for certain unsecured credit exposure up to an agreed threshold. Exposures in excess of the agreed thresholds are collateralized. In addition, the Company minimizes credit risk through credit approvals, limits, and monitoring procedures. The following table reflects the fair value hedges included in the Consolidated Balance Sheets as of:
The following table presents the effect of derivative instruments on the Consolidated Statements of Income for the periods presented:
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Loans |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans Loans were comprised of the following classifications at June 30, 2017 and December 31, 2016:
The following tables present the activity in the allowance for loan losses by portfolio class for the three months ended June 30, 2017 and 2016:
The following tables present the activity in the allowance for loan losses by portfolio class for the six months ended June 30, 2017 and 2016:
In determining the adequacy of the allowance for loan loss, general allocations are made for pools of loans, including non-classified loans, homogeneous portfolios of consumer and residential real estate loans, and loans within certain industry categories believed to present unique risk of loss. General allocations of the allowance are primarily made based on historical averages for loan losses for these portfolios, judgmentally adjusted for current economic factors and portfolio trends. Loan impairment is reported when full repayment under the terms of the loan is not expected. This methodology is used for all loans, including loans acquired with deteriorated credit quality if such loans perform worse than what was expected at the time of acquisition. For purchased loans, the assessment is made at the time of acquisition as well as over the life of loan. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net, at the present value of estimated future cash flows using the loan’s existing rate, or at the fair value of collateral if repayment is expected solely from the collateral. Commercial and industrial loans, commercial real estate loans, and agricultural loans are evaluated individually for impairment. Smaller balance homogeneous loans are evaluated for impairment in total. Such loans include real estate loans secured by one-to-four family residences and loans to individuals for household, family and other personal expenditures. Individually evaluated loans on non-accrual are generally considered impaired. Impaired loans, or portions thereof, are charged off when deemed uncollectible. Specific allocations on impaired loans are determined by comparing the loan balance to the present value of expected cash flows or expected collateral proceeds. Allocations are also applied to categories of loans not considered individually impaired but for which the rate of loss is expected to be greater than historical averages, including non-performing consumer or residential real estate loans. Such allocations are based on past loss experience and information about specific borrower situations and estimated collateral values. The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of June 30, 2017 and December 31, 2016:
(1)Total recorded investment in loans includes $7,623 in accrued interest. (2)n/m = not meaningful
(1)Total recorded investment in loans includes $8,011 in accrued interest. (2)n/m = not meaningful The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2017 and December 31, 2016:
(1) Unpaid Principal Balance is the remaining contractual payments gross of partial charge-offs and discounts.
(1) Unpaid Principal Balance is the remaining contractual payments gross of partial charge-offs and discounts. The following tables present loans individually evaluated for impairment by class of loans for the three month period ended June 30, 2017 and 2016:
The following tables present loans individually evaluated for impairment by class of loans for the six month period ended June 30, 2017 and 2016:
All classes of loans, including loans acquired with deteriorated credit quality, are generally placed on non-accrual status when scheduled principal or interest payments are past due for 90 days or more or when the borrower’s ability to repay becomes doubtful. For purchased loans, the determination is made at the time of acquisition as well as over the life of the loan. Uncollected accrued interest for each class of loans is reversed against income at the time a loan is placed on non-accrual. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. All classes of loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans are typically charged-off at 180 days past due, or earlier if deemed uncollectible. Exceptions to the non-accrual and charge-off policies are made when the loan is well secured and in the process of collection. The following tables present the recorded investment in non-accrual loans and loans past due 90 days or more still on accrual by class of loans as of June 30, 2017 and December 31, 2016:
The following tables present the aging of the recorded investment in past due loans by class of loans as of June 30, 2017 and December 31, 2016:
Troubled Debt Restructurings: In certain instances, the Company may choose to restructure the contractual terms of loans. A troubled debt restructuring occurs when the Bank grants a concession to the borrower that it would not otherwise consider due to a borrower’s financial difficulty. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without modification. This evaluation is performed under the Company’s internal underwriting policy. The Company uses the same methodology for loans acquired with deteriorated credit quality as for all other loans when determining whether the loan is a troubled debt restructuring. During the three months ended June 30, 2017 there was one loan modified as a troubled debt restructuring. During the six months ended June 30, 2017, there were two loans modified as troubled debt restructurings. During the three and six months ended June 30, 2016, there were no loans modified as troubled debt restructurings. The following tables present the recorded investment of troubled debt restructurings by class of loans as of June 30, 2017 and December 31, 2016:
(1)The non-accrual troubled debt restructurings are included in the Non-Accrual Loan table presented on a previous page. The Company had not committed to lending any additional amounts as of June 30, 2017 and December 31, 2016 to customers with outstanding loans that are classified as troubled debt restructurings. The total allowance associated with the loans modified as troubled debt restructurings as of June 30, 2017 and December 31, 2016 was $16 and $3, respectively. The following tables present loans by class modified as troubled debt restructurings that occurred during the three months ending June 30, 2017 and 2016:
The troubled debt restructurings described above increased the allowance for loan losses by $8 and resulted in charge-offs of $0 during the three months ending June 30, 2017.
The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the three months ending June 30, 2016. The following tables present loans by class modified as troubled debt restructurings that occurred during the six months ending June 30, 2017 and 2016:
The troubled debt restructurings described above increased the allowance for loan losses by $10 and resulted in charge-offs of $0 during the six months ending June 30, 2017.
The troubled debt restructurings described above increased the allowance for loan losses by $0 and resulted in charge-offs of $0 during the six months ending June 30, 2016. Additionally, there were no loans modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the three and six months ending June 30, 2017 and 2016. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company classifies loans as to credit risk by individually analyzing loans. This analysis includes commercial and industrial loans, commercial real estate loans, and agricultural loans with an outstanding balance greater than $250. This analysis is typically performed on at least an annual basis. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows:
The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For home equity, consumer and residential mortgage loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in home equity, consumer and residential mortgage loans based on payment activity as of June 30, 2017 and December 31, 2016:
The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The recorded investment of those loans is as follows:
Accretable yield, or income expected to be collected, is as follows:
For those purchased loans disclosed above, the Company did not increase the allowance for loan losses during the three months ended June 30, 2017 and 2016. The Company reversed allowances for loan losses of $56 during the three months ended June 30, 2017. No allowance for loan losses were reversed during the three months ended June 30, 2016.
For those purchased loans disclosed above, the Company increased the allowance for loan losses by $11 and $0 during the six months ended June 30, 2017 and 2016. The Company reversed allowances for loan losses of $56 during the six months ended June 30, 2017. No allowance for loan losses was reversed during the six months ended June 30, 2016. The carrying amount of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction totaled $137 as of June 30, 2017 and $202 as of December 31, 2016. |
Repurchase Agreements Accounted for as Secured Borrowings |
6 Months Ended |
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Jun. 30, 2017 | |
Transfers and Servicing [Abstract] | |
Repurchase Agreements Accounted for as Secured Borrowings | Repurchase Agreements Accounted for as Secured Borrowings Repurchase agreements are short-term borrowings included in FHLB Advances and Other Borrowings and mature overnight and continuously. Repurchase agreements, which were secured by mortgage-backed securities, totaled $43,026 and $42,412 as of June 30, 2017 and December 31, 2016, respectively. Risk could arise when the collateral pledged to a repurchase agreement declines in fair value. The Company minimizes risk by consistently monitoring the value of the collateral pledged. At the point in time where the collateral has declined in fair value, the Company is required to provide additional collateral based on the value of the underlying securities. |
Segment Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | Segment Information The Company’s operations include three primary segments: core banking, trust and investment advisory services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company’s local markets. The core banking segment also involves the sale of residential mortgage loans in the secondary market. The trust and investment advisory services segment involves providing trust, investment advisory, and brokerage services to customers. The insurance segment offers a full range of personal and corporate property and casualty insurance products, primarily in the Company’s banking subsidiary’s local markets. The core banking segment is comprised by the Company’s banking subsidiary, German American Bancorp, which operated through 52 banking offices at June 30, 2017. Net interest income from loans and investments funded by deposits and borrowings is the primary revenue for the core-banking segment. The trust and investment advisory services segment’s revenues are comprised primarily of fees generated by the trust operations of the Company's banking subsidiary and by German American Investment Services, Inc. These fees are derived by providing trust, investment advisory, and brokerage services to its customers. The insurance segment primarily consists of German American Insurance, Inc., which provides a full line of personal and corporate insurance products. Commissions derived from the sale of insurance products are the primary source of revenue for the insurance segment. The following segment financial information has been derived from the internal financial statements of the Company which are used by management to monitor and manage financial performance. The accounting policies of the three segments are the same as those of the Company. The evaluation process for segments does not include holding company income and expense. Holding company amounts are the primary differences between segment amounts and consolidated totals, and are reflected in the column labeled “Other” below, along with amounts to eliminate transactions between segments.
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Stock Repurchase Plan |
6 Months Ended |
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Jun. 30, 2017 | |
Stockholders' Equity Note [Abstract] | |
Stock Repurchase Plan | Common Stock Split On March 27, 2017, the Company declared a 3-for-2 stock split on the Company's authorized and outstanding common shares. The stock split was distributed on April 21, 2017, to shareholders of record as of April 6, 2017. All share and per share data in this Quarterly Report on Form 10-Q relating to a date or period that precedes April 21, 2017 have been adjusted to retroactively reflect the stock split. Stock Repurchase Plan On April 26, 2001, the Company announced that its Board of Directors approved a stock repurchase program for up to 911,631 of the outstanding shares of common stock of the Company. Shares may be purchased from time to time in the open market and in large block privately negotiated transactions. The Company is not obligated to purchase any shares under the program, and the program may be discontinued at any time before the maximum number of shares specified by the program are purchased. The Board of Directors established no expiration date for this program. As of June 30, 2017, the Company had purchased 502,447 shares under the program. No shares were purchased under the program during the three or six months ended June 30, 2017 and 2016. |
Equity Plans and Equity Based Compensation |
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Plans and Equity Based Compensation | Equity Plans and Equity Based Compensation The Company maintains three equity incentive plans under which stock options, restricted stock, and other equity incentive awards can be granted. At June 30, 2017, the Company has reserved 412,104 shares of common stock for the purpose of issuance pursuant to outstanding and future grants of options, restricted stock, and other equity awards to officers, directors and other employees of the Company. For the three and six months ended June 30, 2017 and 2016, the Company granted no options. The Company recorded no stock compensation expense applicable to options during the three and six months ended June 30, 2017 and 2016 because all outstanding options were fully vested prior to 2007. In addition, there was no unrecognized option expense. During the periods presented, awards of long-term incentives were granted in the form of restricted stock. Awards that were granted to management under a management incentive plan were granted in tandem with cash credit entitlements (typically in the form of 60% restricted stock grants and 40% cash credit entitlements). The management and employee restricted stock grants and tandem cash credit entitlements awarded will vest in three equal installments of 33.3% with the first annual vesting on December 5th of the year of the grant and on December 5th of the next two succeeding years. Awards that were granted to directors as additional retainer for their services do not include any cash credit entitlement. These director restricted stock grants are subject to forfeiture in the event that the recipient of the grant does not continue in service as a director of the Company through December 5th of the year after grant or does not satisfy certain meeting attendance requirements, at which time they generally vest 100 percent. For measuring compensation costs, restricted stock awards are valued based upon the market value of the common shares on the date of grant. During the three months ended June 30, 2017, the Company granted awards of 210 shares of restricted stock. The Company granted no shares of restricted stock during the three months ended June 30, 2016. During the six months ended June 30, 2017 and 2016, the Company granted awards of 38,100 and 48,375 shares of restricted stock, respectively. Total unvested restricted stock awards at June 30, 2017 and December 31, 2016 were 91,263 and 53,163, respectively. The following table presents expense recorded for restricted stock and cash entitlements as well as the related tax information for the periods presented:
Unrecognized expense associated with the restricted stock grants and cash entitlements totaled $2,739 and $2,411 as of June 30, 2017 and 2016, respectively. The Company maintains an Employee Stock Purchase Plan whereby eligible employees have the option to purchase the Company’s common stock at a discount. The purchase price of the shares under this Plan has been set at 95% of the fair market value of the Company’s common stock as of the last day of the plan year. The plan provided for the purchase of up to 750,000 shares of common stock, which the Company may obtain by purchases on the open market or from private sources, or by issuing authorized but unissued common shares. At June 30, 2017, there were 577,426 shares available for future issuance under this plan. Funding for the purchase of common stock is from employee and Company contributions. There was no expense recorded for the employee stock purchase plan during the three or six months ended June 30, 2017. There was no expense recorded for the employee stock purchase plan during the three and six months ended June 30, 2016. There was no unrecognized compensation expense as of June 30, 2017 and 2016 for the Employee Stock Purchase Plan. |
Fair Value |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Investment Securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Level 3 pricing is obtained from a third-party based upon similar trades that are not traded frequently without adjustment by the Company. At June 30, 2017, the Company held $6.8 million in Level 3 securities which consist of $6.5 million of non-rated Obligations of State and Political Subdivisions and $353 thousand of equity securities that are not actively traded. Absent the credit rating, significant assumptions must be made such that the credit risk input becomes an unobservable input and thus these securities are reported by the Company in a Level 3 classification. Derivatives: The fair values of derivatives are based on valuation models using observable market data as of the measurement date (Level 2). Impaired Loans: Fair values for impaired collateral dependent loans are generally based on appraisals obtained from licensed real estate appraisers and in certain circumstances includes consideration of offers obtained to purchase properties prior to foreclosure. Appraisals for commercial real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value in the cost to replace the current property. Value of market comparison approach evaluates the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and an investor's required return. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Comparable sales adjustments are based on known sales prices of similar type and similar use properties and duration of time that the property has been on the market to sell. Such adjustments made in the appraisal process are typically significant and result in a Level 3 classification of the inputs for determining fair value. Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Company’s Risk Management Area reviews the assumptions and approaches utilized in the appraisal. In determining the value of impaired collateral dependent loans and other real estate owned, significant unobservable inputs may be used which include: physical condition of comparable properties sold, net operating income generated by the property and investor rates of return. Other Real Estate: Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate (ORE) are measured at the lower of carrying amount or fair value, less costs to sell. Fair values are generally based on third party appraisals of the property utilizing similar techniques as discussed above for Impaired Loans, resulting in a Level 3 classification. In cases where the carrying amount exceeds the fair value, less costs to sell, impairment loss is recognized. Loan Servicing Rights: On a quarterly basis, loan servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount resulting in a Level 2 classification. The valuation model utilizes interest rate, prepayment speed, and default rate assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data. Loans Held-for-Sale: The fair values of loans held for sale are determined by using quoted prices for similar assets, adjusted for specific attributes of that loan resulting in a Level 2 classification. Assets and Liabilities Measured on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized below:
There were no transfers between Level 1 and Level 2 for the periods ended June 30, 2017 and December 31, 2016. At June 30, 2017, the aggregate fair value of the Loans Held-for-Sale was $9,844. Aggregate contractual principal balance was $9,622 with a difference of $222. At December 31, 2016, the aggregate fair value of the Loans Held-for-Sale was $15,273. Aggregate contractual principal balance was $14,983 with a difference of $290. The tables below present a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016:
Of the total gain/loss for the three and six months ended June 30, 2017, $17 and $34 was attributable to other changes in fair value. Of the total gain/loss included in other comprehensive income for the three and six months ended June 30, 2016, $17 and $38, respectively, was attributable to other changes in fair value. Assets and Liabilities Measured on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis are summarized below:
Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $865 with a valuation allowance of $260, resulting in a decrease to the provision for loan losses of $273 for the three months ended June 30, 2017 and an increase to the provision for loan losses of $5 for the six months ended June 30, 2017. For the three and six months ended June 30, 2016, impaired loans resulted in a reduction to the provision for loan losses of $5 and $8, respectively. Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $663 with a valuation allowance of $255, resulting in an increase to the provision for loan losses of $115 for the year ended December 31, 2016. There was no Other Real Estate carried at fair value less costs to sell at June 30, 2017. No charge to earnings was included in the three and six months ended June 30, 2017 and 2016. There was no Other Real Estate carried at fair value less costs to sell at December 31, 2016. A charge to earnings through Other Operating Income of $75 was included in the year ended December 31, 2016. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2017 and December 31, 2016:
The carrying amounts and estimated fair values of the Company’s financial instruments not previously presented are provided in the tables below for the periods ending June 30, 2017 and December 31, 2016. Not all of the Company’s assets and liabilities are considered financial instruments, and therefore are not included in the tables. Because no active market exists for a significant portion of the Company’s financial instruments, fair value estimates were based on subjective judgments, and therefore cannot be determined with precision.
Cash and Short-term Investments: The carrying amount of cash and short-term investments approximate fair values and are classified as Level 1 or Level 2. FHLB Stock and Other Restricted Stock: It is not practical to determine the fair values of FHLB stock and other restricted stock due to restrictions placed on their transferability. Loans: Fair values of loans, excluding loans held for sale and collateral dependent impaired loans carried at fair value, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analysis, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued as described previously. The methods utilized to estimate fair value of loans do not necessarily represent an exit price. Accrued Interest Receivable: The carrying amount of accrued interest approximates fair value resulting in a Level 2 or Level 3 classification consistent with the asset they are associated with. Deposits: The fair values disclosed for demand deposits (e.g., interest and non-interest checking, savings and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. Fair values for fixed rate time deposits are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. Short-term Borrowings: The carrying amounts of federal funds purchased, borrowings under repurchase agreements, and other short-term borrowings, generally maturing within ninety days, approximate their fair values resulting in a Level 2 classification. Long-term Debt: The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. The fair values of the Company’s subordinated debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. Accrued Interest Payable: The carrying amount of accrued interest approximates fair value resulting in a Level 2 or Level 3 classification consistent with the liability they are associated with. |
Other Comprehensive Income (Loss) |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) The tables below summarize the changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2017 and 2016, net of tax:
The tables below summarize the classifications out of accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2017 and 2016:
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Newly Issued Accounting Pronouncements |
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||||||||||||||||||||||||||||
Newly Issued Accounting Pronouncements | Newly Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the "FASB") amended existing guidance (ASU 2014-09 Revenue From Contracts With Customers) related to revenue from contracts with customers. This amendment supersedes and replaces nearly all existing revenue recognition guidance, including industry-specific guidance, establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics and expands and improves disclosures about revenue. In addition, this amendment specifies the accounting for some costs to obtain or fulfill a contract with a customer. These amendments are effective for public business entities for fiscal periods beginning after December 15, 2017, including interim periods within that reporting period. The Company does not expect this pronouncement to have a material impact on the Company's consolidated results of operations and financial condition as the Company's core revenue does not fall under this guidance. In January 2016, the FASB amended existing guidance (ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities) that requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. Also, it requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. It requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables). It eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost. These amendments are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The Company notes that the impact of adoption is to carry the equity security at fair value through the income statement or at cost, less impairment when fair value is not readily determinable, with observable price changes being recognized in earnings. The Company doesn't expect the impact to be material. For additional information on this equity security, see Note 4 - Securities. In February 2016, the FASB amended existing guidance (ASU No. 2016-02, Leases (Topic 842)) that requires lessees recognize the following for all leases (with the exception of short-term leases) at the commencement date (1) A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. These amendments are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. Based on our leases outstanding as of June 30, 2017, the Company does not expect this new guidance to have a material impact on the consolidated results of operation. However as a result of this new guidance, the Company anticipates an estimated increase in its Consolidated Balance Sheet of approximately $6,000. This impact will vary based on the Company's future decisions to enter into new lease agreements or exit/renew current lease agreements prior to the date of implementation. In June 2016, the FASB issued guidance (ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326)) to replace the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (CECL) model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held-to-maturity debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. These amendments are effective for public business entities for fiscal years beginning after December 15, 2019, including interim periods within that reporting period. The Company anticipates there may be an increase in its allowance for loan losses at the time of adoption of this standard, but can not estimate the amount at this time. In August 2016, the FASB issued this ASU (ASU No. 2016-15, Statement of Cash Flows (Topic 320): Classification of Certain Cash Receipts and Cash Payments) to address the diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows including the following:
These amendments are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. This guidance currently has no material impact on the Company's Consolidated Statements of Cash Flows; however, the Company will continue to monitor it going forward. In March 2017, the FASB issued this ASU (ASU No. 2017-08, Premium Amortization on Purchased Callable Debt Securities) to align the accounting with the economics of a callable debt security and to align the amortization period with expectations that already are included in market pricing on the callable debt securities. This ASU will shorten the amortization period for premiums on purchased callable debt securities by requiring that premiums be amortized to the first (or earliest) call date instead of as an adjustment to the yield over the contractual life. This guidance is effective for for public business entities for fiscal years beginning after December 15, 2018, including interim period within that reporting period. As a result of the Company's analysis, the Company doesn't expect this pronouncement to have a material impact on its consolidated results of operations and financial condition. |
Newly Issued Accounting Pronouncements (Policies) |
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New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||||||||||||||||||||||||||||
Basis of Presentation | The accounting and reporting policies of German American Bancorp, Inc. and its subsidiaries (hereinafter collectively referred to as the "Company") conform to U.S. generally accepted accounting principles. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the periods reported have been included in the accompanying unaudited consolidated financial statements, and all such adjustments are of a normal recurring nature. |
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Newly Issued Accounting Pronouncements | In May 2014, the Financial Accounting Standards Board (the "FASB") amended existing guidance (ASU 2014-09 Revenue From Contracts With Customers) related to revenue from contracts with customers. This amendment supersedes and replaces nearly all existing revenue recognition guidance, including industry-specific guidance, establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics and expands and improves disclosures about revenue. In addition, this amendment specifies the accounting for some costs to obtain or fulfill a contract with a customer. These amendments are effective for public business entities for fiscal periods beginning after December 15, 2017, including interim periods within that reporting period. The Company does not expect this pronouncement to have a material impact on the Company's consolidated results of operations and financial condition as the Company's core revenue does not fall under this guidance. In January 2016, the FASB amended existing guidance (ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities) that requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. Also, it requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. It requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables). It eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost. These amendments are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The Company notes that the impact of adoption is to carry the equity security at fair value through the income statement or at cost, less impairment when fair value is not readily determinable, with observable price changes being recognized in earnings. The Company doesn't expect the impact to be material. For additional information on this equity security, see Note 4 - Securities. In February 2016, the FASB amended existing guidance (ASU No. 2016-02, Leases (Topic 842)) that requires lessees recognize the following for all leases (with the exception of short-term leases) at the commencement date (1) A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. These amendments are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. Based on our leases outstanding as of June 30, 2017, the Company does not expect this new guidance to have a material impact on the consolidated results of operation. However as a result of this new guidance, the Company anticipates an estimated increase in its Consolidated Balance Sheet of approximately $6,000. This impact will vary based on the Company's future decisions to enter into new lease agreements or exit/renew current lease agreements prior to the date of implementation. In June 2016, the FASB issued guidance (ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326)) to replace the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (CECL) model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held-to-maturity debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. These amendments are effective for public business entities for fiscal years beginning after December 15, 2019, including interim periods within that reporting period. The Company anticipates there may be an increase in its allowance for loan losses at the time of adoption of this standard, but can not estimate the amount at this time. In August 2016, the FASB issued this ASU (ASU No. 2016-15, Statement of Cash Flows (Topic 320): Classification of Certain Cash Receipts and Cash Payments) to address the diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows including the following:
These amendments are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. This guidance currently has no material impact on the Company's Consolidated Statements of Cash Flows; however, the Company will continue to monitor it going forward. In March 2017, the FASB issued this ASU (ASU No. 2017-08, Premium Amortization on Purchased Callable Debt Securities) to align the accounting with the economics of a callable debt security and to align the amortization period with expectations that already are included in market pricing on the callable debt securities. This ASU will shorten the amortization period for premiums on purchased callable debt securities by requiring that premiums be amortized to the first (or earliest) call date instead of as an adjustment to the yield over the contractual life. This guidance is effective for for public business entities for fiscal years beginning after December 15, 2018, including interim period within that reporting period. As a result of the Company's analysis, the Company doesn't expect this pronouncement to have a material impact on its consolidated results of operations and financial condition. |
Per Share Data (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Computations of Basic Earnings Per Share and Diluted Earnings Per Share |
(1) Share and per share data has been adjusted to reflect a 3-for-2 stock split on April 21, 2017. The computation of Basic Earnings per Share and Diluted Earnings per Share are as follows:
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Securities (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Securities Available-for-Sale | The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of Securities Available-for-Sale at June 30, 2017 and December 31, 2016, were as follows:
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Schedule of Securities by Contractual Maturity | The amortized cost and fair value of securities at June 30, 2017 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because some issuers have the right to call or prepay certain obligations with or without call or prepayment penalties. Mortgage-backed and Equity Securities are not due at a single maturity date and are shown separately in the table below.
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Schedule of Proceeds from the Sales of Securities | Proceeds from the Sales of Securities are summarized below:
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Schedule of Securities with Unrealized Losses | Below is a summary of securities with unrealized losses as of June 30, 2017 and December 31, 2016, presented by length of time the securities have been in a continuous unrealized loss position:
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Derivatives (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities | The following table reflects the fair value hedges included in the Consolidated Balance Sheets as of:
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Derivative Instruments Consolidated Statements of Income | The following table presents the effect of derivative instruments on the Consolidated Statements of Income for the periods presented:
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Loans (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Loans | Loans were comprised of the following classifications at June 30, 2017 and December 31, 2016:
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Schedule of Allowance for Loan Losses | The following tables present the activity in the allowance for loan losses by portfolio class for the three months ended June 30, 2017 and 2016:
The following tables present the activity in the allowance for loan losses by portfolio class for the six months ended June 30, 2017 and 2016:
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Schedule of Allowance for Loan Losses and Recorded Investment in Loans | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of June 30, 2017 and December 31, 2016:
(1)Total recorded investment in loans includes $7,623 in accrued interest. (2)n/m = not meaningful
(1)Total recorded investment in loans includes $8,011 in accrued interest. (2)n/m = not meaningful |
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Schedule for Loans Individually Evaluated for Impairment | The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2017 and December 31, 2016:
(1) Unpaid Principal Balance is the remaining contractual payments gross of partial charge-offs and discounts.
(1) Unpaid Principal Balance is the remaining contractual payments gross of partial charge-offs and discounts. The following tables present loans individually evaluated for impairment by class of loans for the three month period ended June 30, 2017 and 2016:
The following tables present loans individually evaluated for impairment by class of loans for the six month period ended June 30, 2017 and 2016:
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Schedule of Recorded Investment in Nonaccrual Loans | The following tables present the recorded investment in non-accrual loans and loans past due 90 days or more still on accrual by class of loans as of June 30, 2017 and December 31, 2016:
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Schedule of Aging of Recorded Investment in Past Due Loans | The following tables present the aging of the recorded investment in past due loans by class of loans as of June 30, 2017 and December 31, 2016:
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Schedule of Recorded Investment of Troubled Debt Restructurings | The following tables present the recorded investment of troubled debt restructurings by class of loans as of June 30, 2017 and December 31, 2016:
(1)The non-accrual troubled debt restructurings are included in the Non-Accrual Loan table presented on a previous page. |
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Schedule of Modified Troubled Debt Restructuring |
The following tables present loans by class modified as troubled debt restructurings that occurred during the three months ending June 30, 2017 and 2016:
The following tables present loans by class modified as troubled debt restructurings that occurred during the six months ending June 30, 2017 and 2016:
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Schedule of Risk Category of Loans | Based on the most recent analysis performed, the risk category of loans by class of loans is as follows:
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Schedule of Recorded Investment in Home Equity, Consumer and Residential Mortgage Loans | The following table presents the recorded investment in home equity, consumer and residential mortgage loans based on payment activity as of June 30, 2017 and December 31, 2016:
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Schedule of Carrying Amount of Loans with Deterioration of Credit Quality | The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The recorded investment of those loans is as follows:
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Schedule of Accretable Yield, or Income Expected to be Collected |
Accretable yield, or income expected to be collected, is as follows:
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Segment Information (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Financial Information | The following segment financial information has been derived from the internal financial statements of the Company which are used by management to monitor and manage financial performance. The accounting policies of the three segments are the same as those of the Company. The evaluation process for segments does not include holding company income and expense. Holding company amounts are the primary differences between segment amounts and consolidated totals, and are reflected in the column labeled “Other” below, along with amounts to eliminate transactions between segments.
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Equity Plans and Equity Based Compensation (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expense Recorded For Restricted Stock And Cash Entitlements | The following table presents expense recorded for restricted stock and cash entitlements as well as the related tax information for the periods presented:
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Fair Value (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized below:
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Reconciliation of all Assets Measured at Fair Value on Recurring Basis, Using Significant Unobservable Inputs (Level 3) | The tables below present a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016:
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Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | Assets and liabilities measured at fair value on a non-recurring basis are summarized below:
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Fair Value Assets and Liabilities Measured on Nonrecurring Basis Valuation Techniques | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2017 and December 31, 2016:
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Carrying Amounts and Estimated Fair Values of Company's Financial Instruments | The carrying amounts and estimated fair values of the Company’s financial instruments not previously presented are provided in the tables below for the periods ending June 30, 2017 and December 31, 2016. Not all of the Company’s assets and liabilities are considered financial instruments, and therefore are not included in the tables. Because no active market exists for a significant portion of the Company’s financial instruments, fair value estimates were based on subjective judgments, and therefore cannot be determined with precision.
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Other Comprehensive Income (Loss) (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | The tables below summarize the changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2017 and 2016, net of tax:
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Classifications Out of Accumulated Other Comprehensive Income (Loss) | The tables below summarize the classifications out of accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2017 and 2016:
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Common Stock Split (Details) |
Apr. 21, 2017 |
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Equity [Abstract] | |
Stock split, conversion ratio | 0.6667 |
Per Share Data (Computations of Basic Earnings Per Share and Diluted Earnings Per Share) (Details) $ / shares in Units, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Apr. 21, 2017 |
Jun. 30, 2017
USD ($)
$ / shares
shares
|
Jun. 30, 2016
USD ($)
$ / shares
shares
|
Jun. 30, 2017
USD ($)
$ / shares
shares
|
Jun. 30, 2016
USD ($)
$ / shares
shares
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Basic Earnings per Share: | ||||||||||
NET INCOME | $ | $ 9,839 | $ 9,788 | $ 19,395 | $ 14,934 | ||||||
Weighted Average Shares Outstanding (in shares) | [1] | 22,929,426 | 22,884,028 | 22,919,094 | 21,885,655 | |||||
Basic Earnings per Share (USD per share) | $ / shares | [2] | $ 0.43 | $ 0.43 | $ 0.85 | $ 0.68 | |||||
Diluted Earnings per Share: | ||||||||||
NET INCOME | $ | $ 9,839 | $ 9,788 | $ 19,395 | $ 14,934 | ||||||
Weighted Average Shares Outstanding (in shares) | [1] | 22,929,426 | 22,884,028 | 22,919,094 | 21,885,655 | |||||
Potentially Dilutive Shares, Net (in shares) | 0 | 1,801 | 0 | 3,958 | ||||||
Diluted Weighted Average Shares Outstanding (in shares) | [1] | 22,929,426 | 22,885,829 | 22,919,094 | 21,889,613 | |||||
Diluted Earnings per Share (USD per share) | $ / shares | [2] | $ 0.43 | $ 0.43 | $ 0.85 | $ 0.68 | |||||
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 0 | 0 | 0 | 0 | ||||||
Stock split, conversion ratio | 0.6667 | |||||||||
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Securities (Schedule of Securities Available-for-Sale) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 734,035 | $ 719,555 |
Gross Unrealized Gains | 11,433 | 4,327 |
Gross Unrealized Losses | (4,890) | (14,096) |
Total Fair Value | 740,578 | 709,786 |
Obligations of State and Political Subdivisions | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 258,242 | 247,350 |
Gross Unrealized Gains | 9,337 | 3,847 |
Gross Unrealized Losses | (592) | (3,678) |
Total Fair Value | 266,987 | 247,519 |
MBS/CMO - Residential | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 475,440 | 471,852 |
Gross Unrealized Gains | 2,096 | 480 |
Gross Unrealized Losses | (4,298) | (10,418) |
Total Fair Value | 473,238 | 461,914 |
Equity Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 353 | 353 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Total Fair Value | $ 353 | $ 353 |
Securities (Schedule of Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Securities Available-for-Sale: Amortized cost | ||
Due in one year or less | $ 2,282 | |
Due after one year through five years | 22,311 | |
Due after five years through ten years | 75,810 | |
Due after ten years | 157,839 | |
Amortized Cost | 734,035 | $ 719,555 |
Securities Available-for-Sale, Fair Value | ||
Due in one year or less | 2,303 | |
Due after one year through five years | 23,357 | |
Due after five years through ten years | 79,589 | |
Due after ten years | 161,738 | |
Total Fair Value | 740,578 | 709,786 |
MBS/CMO - Residential | ||
Securities Available-for-Sale: Amortized cost | ||
Amortized cost | 475,440 | |
Amortized Cost | 475,440 | 471,852 |
Securities Available-for-Sale, Fair Value | ||
Fair value | 473,238 | |
Total Fair Value | 473,238 | 461,914 |
Equity Securities | ||
Securities Available-for-Sale: Amortized cost | ||
Amortized cost | 353 | |
Amortized Cost | 353 | 353 |
Securities Available-for-Sale, Fair Value | ||
Fair value | 353 | |
Total Fair Value | $ 353 | $ 353 |
Securities (Schedule of Proceeds from Sales of Securities) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Schedule of Investments [Line Items] | ||||
Proceeds from Sales | $ 0 | $ 105,339 | ||
Gross Gains on Sales | $ 0 | $ 968 | 0 | 968 |
Sale of Securities | ||||
Schedule of Investments [Line Items] | ||||
Proceeds from Sales | 0 | 42,364 | 0 | 105,339 |
Gross Gains on Sales | 0 | 968 | 0 | 968 |
Income Taxes on Gross Gains | $ 0 | $ 339 | $ 0 | $ 339 |
Securities (Additional Information) (Details) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2009
USD ($)
|
Jun. 30, 2017
USD ($)
investment
|
Dec. 31, 2016
USD ($)
investment
|
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Schedule of Available-for-sale Securities [Line Items] | |||
Carrying value of securities pledged to secure repurchase agreements, public and trust deposits and other by law | $ 174,047 | $ 186,572 | |
Original amount in non-controlling investment security in a single banking organization | $ 1,350 | ||
Equity Securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of non-controlling investments in a single banking organization. | investment | 1 | 1 | |
Other than temporary impairment loss recognized in earnings, non-controlling investment in single banking organization | $ 997 |
Securities (Schedule of Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | $ 277,121 | $ 464,958 |
Less than 12 Months Unrealized Loss | (3,790) | (12,460) |
12 Months or More Fair Value | 45,397 | 47,271 |
12 Months or More Unrealized Loss | (1,100) | (1,636) |
Total Fair Value | 322,518 | 512,229 |
Total Unrealized Loss | (4,890) | (14,096) |
Obligations of State and Political Subdivisions | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | 35,898 | 108,918 |
Less than 12 Months Unrealized Loss | (592) | (3,678) |
12 Months or More Fair Value | 0 | 0 |
12 Months or More Unrealized Loss | 0 | 0 |
Total Fair Value | 35,898 | 108,918 |
Total Unrealized Loss | (592) | (3,678) |
MBS/CMO - Residential | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | 241,223 | 356,040 |
Less than 12 Months Unrealized Loss | (3,198) | (8,782) |
12 Months or More Fair Value | 45,397 | 47,271 |
12 Months or More Unrealized Loss | (1,100) | (1,636) |
Total Fair Value | 286,620 | 403,311 |
Total Unrealized Loss | (4,298) | (10,418) |
Equity Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months Fair Value | 0 | 0 |
Less than 12 Months Unrealized Loss | 0 | 0 |
12 Months or More Fair Value | 0 | 0 |
12 Months or More Unrealized Loss | 0 | 0 |
Total Fair Value | 0 | 0 |
Total Unrealized Loss | $ 0 | $ 0 |
Derivatives (Additional Information) (Details) - USD ($) $ in Millions |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 84.5 | $ 67.9 |
Derivatives (Derivative Instruments And Hedging Activities) (Details) - Interest Rate Swap - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Derivatives, Fair Value [Line Items] | ||
Other Assets, Notional Amount of Interest Rate Swaps | $ 84,546 | $ 67,902 |
Other Assets, Fair Value of Interest Rate Swaps | 1,655 | 1,291 |
Other Liabilities, Notional Amount of Interest Rate Swap | 84,546 | 67,902 |
Other Liabilities, Fair Value of Interest Rate Swap | $ 1,736 | $ 1,238 |
Derivatives (Derivative Instruments Consolidated Statement) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Interest Rate Swap | ||||
Derivative [Line Items] | ||||
Included in Other Operating Income | $ 0 | $ 104 | $ 348 | $ 158 |
Loans (Components of Loans) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
---|---|---|---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Gross | $ 2,035,147 | $ 1,993,404 | ||||
Less: Unearned Income | (3,404) | (3,449) | ||||
Allowance for Loan Losses | (15,320) | $ (15,166) | (14,808) | $ (15,304) | $ (15,161) | $ (14,438) |
Loans, Net | 2,016,423 | 1,975,147 | ||||
Commercial and Industrial Loans and Leases | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | (3,672) | (3,612) | (3,725) | (4,190) | (4,346) | (4,242) |
Commercial Real Estate Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | (5,316) | (5,696) | (5,452) | (6,533) | (6,463) | (6,342) |
Agricultural Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | (4,829) | (4,361) | (4,094) | (2,704) | (2,529) | (2,115) |
Home Equity Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | (300) | (299) | (283) | (350) | (352) | (383) |
Consumer Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | (254) | (244) | (235) | (242) | (230) | (230) |
Residential Mortgage Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for Loan Losses | (353) | $ (348) | (329) | $ (559) | $ (531) | $ (414) |
Commercial | Commercial and Industrial Loans and Leases | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Gross | 467,754 | 457,372 | ||||
Commercial | Commercial Real Estate Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Gross | 870,100 | 856,094 | ||||
Commercial | Agricultural Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Gross | 313,254 | 303,128 | ||||
Retail | Home Equity Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Gross | 141,377 | 133,575 | ||||
Retail | Consumer Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Gross | 61,185 | 59,945 | ||||
Retail | Residential Mortgage Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Gross | $ 181,477 | $ 183,290 |
Loans (Schedule of Allowance for Loan Losses) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | $ 15,166 | $ 15,161 | $ 14,808 | $ 14,438 |
Provision for Loan Losses | 350 | 350 | 850 | 1,200 |
Recoveries | 118 | 73 | 212 | 129 |
Loans Charged-off | (314) | (280) | (550) | (463) |
Ending Balance | 15,320 | 15,304 | 15,320 | 15,304 |
Commercial and Industrial Loans and Leases | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 3,612 | 4,346 | 3,725 | 4,242 |
Provision for Loan Losses | 62 | (180) | (53) | (75) |
Recoveries | 7 | 24 | 9 | 28 |
Loans Charged-off | (9) | 0 | (9) | (5) |
Ending Balance | 3,672 | 4,190 | 3,672 | 4,190 |
Commercial Real Estate Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 5,696 | 6,463 | 5,452 | 6,342 |
Provision for Loan Losses | (259) | 68 | 19 | 188 |
Recoveries | 34 | 2 | 39 | 3 |
Loans Charged-off | (155) | 0 | (194) | 0 |
Ending Balance | 5,316 | 6,533 | 5,316 | 6,533 |
Agricultural Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 4,361 | 2,529 | 4,094 | 2,115 |
Provision for Loan Losses | 468 | 175 | 735 | 589 |
Recoveries | 0 | 0 | 0 | 0 |
Loans Charged-off | 0 | 0 | 0 | 0 |
Ending Balance | 4,829 | 2,704 | 4,829 | 2,704 |
Home Equity Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 299 | 352 | 283 | 383 |
Provision for Loan Losses | 16 | 9 | 33 | 40 |
Recoveries | 2 | 0 | 2 | 1 |
Loans Charged-off | (17) | (11) | (18) | (74) |
Ending Balance | 300 | 350 | 300 | 350 |
Consumer Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 244 | 230 | 235 | 230 |
Provision for Loan Losses | 54 | 66 | 172 | 93 |
Recoveries | 67 | 43 | 127 | 88 |
Loans Charged-off | (111) | (97) | (280) | (169) |
Ending Balance | 254 | 242 | 254 | 242 |
Residential Mortgage Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 348 | 531 | 329 | 414 |
Provision for Loan Losses | 19 | 196 | 38 | 351 |
Recoveries | 8 | 4 | 35 | 9 |
Loans Charged-off | (22) | (172) | (49) | (215) |
Ending Balance | 353 | 559 | 353 | 559 |
Unallocated | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 606 | 710 | 690 | 712 |
Provision for Loan Losses | (10) | 16 | (94) | 14 |
Recoveries | 0 | 0 | 0 | 0 |
Loans Charged-off | 0 | 0 | 0 | 0 |
Ending Balance | $ 596 | $ 726 | $ 596 | $ 726 |
Loans (Schedule of Allowance for Loan Losses and Recorded Investment in Loans) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
|||
---|---|---|---|---|---|---|---|---|---|
Allowance for Loan Losses: | |||||||||
Individually Evaluated for Impairment | $ 260 | $ 255 | |||||||
Collectively Evaluated for Impairment | 15,000 | 14,448 | |||||||
Total Ending Allowance Balance | 15,320 | $ 15,166 | 14,808 | $ 15,304 | $ 15,161 | $ 14,438 | |||
Loans: | |||||||||
Loans Individually Evaluated for Impairment | 1,413 | 1,239 | |||||||
Loans Collectively Evaluated for Impairment | 2,031,844 | 1,989,128 | |||||||
Loans, net of deferred income | [1] | 2,042,770 | 2,001,415 | ||||||
Accrued interest | 7,623 | 8,011 | |||||||
Receivables Acquired with Deteriorated Credit Quality | |||||||||
Allowance for Loan Losses: | |||||||||
Acquired with Deteriorated Credit Quality | 60 | 105 | |||||||
Loans: | |||||||||
Loans, net of deferred income | [1] | 9,513 | 11,048 | ||||||
Commercial and Industrial Loans and Leases | |||||||||
Allowance for Loan Losses: | |||||||||
Individually Evaluated for Impairment | 10 | 24 | |||||||
Collectively Evaluated for Impairment | 3,659 | 3,698 | |||||||
Total Ending Allowance Balance | 3,672 | 3,612 | 3,725 | 4,190 | 4,346 | 4,242 | |||
Loans: | |||||||||
Loans Individually Evaluated for Impairment | 187 | 113 | |||||||
Loans Collectively Evaluated for Impairment | 467,531 | 456,769 | |||||||
Loans, net of deferred income | [1] | 468,965 | 458,538 | ||||||
Commercial and Industrial Loans and Leases | Receivables Acquired with Deteriorated Credit Quality | |||||||||
Allowance for Loan Losses: | |||||||||
Acquired with Deteriorated Credit Quality | 3 | 3 | |||||||
Loans: | |||||||||
Loans, net of deferred income | [1] | 1,247 | 1,656 | ||||||
Commercial Real Estate Loans | |||||||||
Allowance for Loan Losses: | |||||||||
Individually Evaluated for Impairment | 180 | 231 | |||||||
Collectively Evaluated for Impairment | 5,132 | 5,172 | |||||||
Total Ending Allowance Balance | 5,316 | 5,696 | 5,452 | 6,533 | 6,463 | 6,342 | |||
Loans: | |||||||||
Loans Individually Evaluated for Impairment | 836 | 832 | |||||||
Loans Collectively Evaluated for Impairment | 864,532 | 849,510 | |||||||
Loans, net of deferred income | [1] | 871,970 | 858,030 | ||||||
Commercial Real Estate Loans | Receivables Acquired with Deteriorated Credit Quality | |||||||||
Allowance for Loan Losses: | |||||||||
Acquired with Deteriorated Credit Quality | 4 | 49 | |||||||
Loans: | |||||||||
Loans, net of deferred income | [1] | 6,602 | 7,688 | ||||||
Agricultural Loans | |||||||||
Allowance for Loan Losses: | |||||||||
Individually Evaluated for Impairment | 70 | 0 | |||||||
Collectively Evaluated for Impairment | 4,711 | 4,046 | |||||||
Total Ending Allowance Balance | 4,829 | 4,361 | 4,094 | 2,704 | 2,529 | 2,115 | |||
Loans: | |||||||||
Loans Individually Evaluated for Impairment | 390 | 294 | |||||||
Loans Collectively Evaluated for Impairment | 315,691 | 305,946 | |||||||
Loans, net of deferred income | [1] | 316,764 | 306,946 | ||||||
Agricultural Loans | Receivables Acquired with Deteriorated Credit Quality | |||||||||
Allowance for Loan Losses: | |||||||||
Acquired with Deteriorated Credit Quality | 48 | 48 | |||||||
Loans: | |||||||||
Loans, net of deferred income | [1] | 683 | 706 | ||||||
Home Equity Loans | |||||||||
Allowance for Loan Losses: | |||||||||
Individually Evaluated for Impairment | 0 | 0 | |||||||
Collectively Evaluated for Impairment | 300 | 283 | |||||||
Total Ending Allowance Balance | 300 | 299 | 283 | 350 | 352 | 383 | |||
Loans: | |||||||||
Loans Individually Evaluated for Impairment | 0 | 0 | |||||||
Loans Collectively Evaluated for Impairment | 141,851 | 134,032 | |||||||
Loans, net of deferred income | [1] | 141,851 | 134,032 | ||||||
Home Equity Loans | Receivables Acquired with Deteriorated Credit Quality | |||||||||
Allowance for Loan Losses: | |||||||||
Acquired with Deteriorated Credit Quality | 0 | 0 | |||||||
Loans: | |||||||||
Loans, net of deferred income | 0 | 0 | |||||||
Consumer Loans | |||||||||
Allowance for Loan Losses: | |||||||||
Individually Evaluated for Impairment | 0 | 0 | |||||||
Collectively Evaluated for Impairment | 249 | 230 | |||||||
Total Ending Allowance Balance | 254 | 244 | 235 | 242 | 230 | 230 | |||
Loans: | |||||||||
Loans Individually Evaluated for Impairment | 0 | 0 | |||||||
Loans Collectively Evaluated for Impairment | 61,281 | 60,046 | |||||||
Loans, net of deferred income | [1] | 61,334 | 60,099 | ||||||
Consumer Loans | Receivables Acquired with Deteriorated Credit Quality | |||||||||
Allowance for Loan Losses: | |||||||||
Acquired with Deteriorated Credit Quality | 5 | 5 | |||||||
Loans: | |||||||||
Loans, net of deferred income | [1] | 53 | 53 | ||||||
Residential Mortgage Loans | |||||||||
Allowance for Loan Losses: | |||||||||
Individually Evaluated for Impairment | 0 | 0 | |||||||
Collectively Evaluated for Impairment | 353 | 329 | |||||||
Total Ending Allowance Balance | 353 | 348 | 329 | 559 | 531 | 414 | |||
Loans: | |||||||||
Loans Individually Evaluated for Impairment | 0 | 0 | |||||||
Loans Collectively Evaluated for Impairment | 180,958 | 182,825 | |||||||
Loans, net of deferred income | [1] | 181,886 | 183,770 | ||||||
Residential Mortgage Loans | Receivables Acquired with Deteriorated Credit Quality | |||||||||
Allowance for Loan Losses: | |||||||||
Acquired with Deteriorated Credit Quality | 0 | 0 | |||||||
Loans: | |||||||||
Loans, net of deferred income | [1] | 928 | 945 | ||||||
Unallocated | |||||||||
Allowance for Loan Losses: | |||||||||
Individually Evaluated for Impairment | 0 | 0 | |||||||
Collectively Evaluated for Impairment | 596 | 690 | |||||||
Total Ending Allowance Balance | 596 | $ 606 | 690 | $ 726 | $ 710 | $ 712 | |||
Unallocated | Receivables Acquired with Deteriorated Credit Quality | |||||||||
Allowance for Loan Losses: | |||||||||
Acquired with Deteriorated Credit Quality | $ 0 | $ 0 | |||||||
|
Loans (Schedule for Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance | $ 1,233 | $ 1,233 | $ 1,719 | ||
Recorded Investment | 751 | 751 | 1,107 | ||
Average Recorded Investment | 1,770 | $ 4,427 | 1,513 | $ 2,549 | |
Interest Income Recognized | 47 | 9 | 56 | 51 | |
Cash Basis Recognized | 43 | 2 | 47 | 17 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance | 1,711 | 1,711 | 1,575 | ||
Recorded Investment | 1,570 | 1,570 | 1,431 | ||
Allowance for Loan Losses Allocated | 315 | 315 | 355 | ||
Average Recorded Investment | 1,587 | 2,284 | 2,305 | 2,324 | |
Interest Income Recognized | 5 | 1 | 12 | 2 | |
Cash Basis Recognized | 0 | 0 | 7 | 0 | |
Unpaid Principal Balance | 2,944 | 2,944 | 3,294 | ||
Recorded Investment | 2,321 | 2,321 | 2,538 | ||
Average Recorded Investment | 3,357 | 6,711 | 3,818 | 4,873 | |
Interest Income Recognized | 52 | 10 | 68 | 53 | |
Cash Basis Recognized | 43 | 2 | 54 | 17 | |
Receivables Acquired with Deteriorated Credit Quality | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance | 581 | 581 | 1,018 | ||
Recorded Investment | 203 | 203 | 531 | ||
Average Recorded Investment | 245 | 2,324 | 311 | 1,697 | |
Interest Income Recognized | 25 | 4 | 25 | 12 | |
Cash Basis Recognized | 25 | 1 | 25 | 2 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance | 844 | 844 | 910 | ||
Recorded Investment | 705 | 705 | 768 | ||
Allowance for Loan Losses Allocated | 55 | 55 | 100 | ||
Average Recorded Investment | 712 | 0 | 721 | 0 | |
Interest Income Recognized | 4 | 0 | 11 | 0 | |
Cash Basis Recognized | 0 | 0 | 7 | 0 | |
Commercial and Industrial Loans and Leases | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance | 196 | 196 | 85 | ||
Recorded Investment | 139 | 139 | 29 | ||
Average Recorded Investment | 150 | 185 | 83 | 133 | |
Interest Income Recognized | 2 | 3 | 2 | 25 | |
Cash Basis Recognized | 1 | 1 | 2 | 12 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance | 105 | 105 | 148 | ||
Recorded Investment | 64 | 64 | 107 | ||
Allowance for Loan Losses Allocated | 13 | 13 | 27 | ||
Average Recorded Investment | 65 | 86 | 84 | 108 | |
Interest Income Recognized | 1 | 0 | 2 | 0 | |
Cash Basis Recognized | 0 | 0 | 1 | 0 | |
Commercial Real Estate Loans | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance | 838 | 838 | 1,278 | ||
Recorded Investment | 450 | 450 | 784 | ||
Average Recorded Investment | 1,124 | 3,397 | 823 | 1,988 | |
Interest Income Recognized | 26 | 6 | 30 | 24 | |
Cash Basis Recognized | 26 | 1 | 29 | 4 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance | 800 | 800 | 839 | ||
Recorded Investment | 791 | 791 | 827 | ||
Allowance for Loan Losses Allocated | 184 | 184 | 280 | ||
Average Recorded Investment | 795 | 2,198 | 1,609 | 2,216 | |
Interest Income Recognized | 4 | 1 | 10 | 2 | |
Cash Basis Recognized | 0 | 0 | 6 | 0 | |
Agricultural Loans | |||||
With No Related Allowance Recorded: | |||||
Unpaid Principal Balance | 199 | 199 | 356 | ||
Recorded Investment | 162 | 162 | 294 | ||
Average Recorded Investment | 496 | 845 | 607 | 428 | |
Interest Income Recognized | 19 | 0 | 24 | 2 | |
Cash Basis Recognized | 16 | 0 | 16 | 1 | |
With An Allowance Recorded: | |||||
Unpaid Principal Balance | 806 | 806 | 588 | ||
Recorded Investment | 715 | 715 | 497 | ||
Allowance for Loan Losses Allocated | 118 | 118 | $ 48 | ||
Average Recorded Investment | 727 | 0 | 612 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Cash Basis Recognized | $ 0 | $ 0 | $ 0 | $ 0 |
Loans (Schedule of Recorded Investment in Nonaccrual Loans) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 3,097 | $ 3,793 |
Loans Past Due 90 Days or More & Still Accruing | 63 | 2 |
Commercial and Industrial Loans and Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 60 | 86 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 2 |
Commercial Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 982 | 1,408 |
Loans Past Due 90 Days or More & Still Accruing | 32 | 0 |
Agricultural Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 878 | 792 |
Loans Past Due 90 Days or More & Still Accruing | 31 | 0 |
Home Equity Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 72 | 73 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 0 |
Consumer Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 433 | 85 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 0 |
Residential Mortgage Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 672 | 1,349 |
Loans Past Due 90 Days or More & Still Accruing | 0 | 0 |
Receivables Acquired with Deteriorated Credit Quality | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 820 | 1,264 |
Loans Past Due 90 Days or More & Still Accruing | $ 0 | $ 0 |
Loans (Schedule of Aging of Recorded Investment in Loans) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
|||
---|---|---|---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | $ 2,042,770 | $ 2,001,415 | ||
Loans Past Due | 7,585 | 9,435 | |||
Loans Not Past Due | 2,035,185 | 1,991,980 | |||
Accrued interest | 7,623 | 8,011 | |||
Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 9,513 | 11,048 | ||
Loans Past Due | 568 | 757 | |||
Loans Not Past Due | 8,945 | 10,291 | |||
Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | 262,809 | ||||
Loans Past Due | 4,740 | ||||
Loans Not Past Due | 258,069 | ||||
30-59 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 4,410 | 5,965 | |||
30-59 Days Past Due | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 0 | 130 | |||
30-59 Days Past Due | Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 2,752 | ||||
60-89 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 1,096 | 1,489 | |||
60-89 Days Past Due | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 0 | 0 | |||
60-89 Days Past Due | Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 862 | ||||
90 Days or More Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 2,079 | 1,981 | |||
90 Days or More Past Due | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 568 | 627 | |||
90 Days or More Past Due | Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 1,126 | ||||
Commercial and Industrial Loans and Leases | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 468,965 | 458,538 | ||
Loans Past Due | 107 | 101 | |||
Loans Not Past Due | 468,858 | 458,437 | |||
Commercial and Industrial Loans and Leases | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 1,247 | 1,656 | ||
Commercial and Industrial Loans and Leases | 30-59 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 51 | 20 | |||
Commercial and Industrial Loans and Leases | 60-89 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 3 | 4 | |||
Commercial and Industrial Loans and Leases | 90 Days or More Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 53 | 77 | |||
Commercial Real Estate Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 871,970 | 858,030 | ||
Loans Past Due | 1,505 | 1,860 | |||
Loans Not Past Due | 870,465 | 856,170 | |||
Commercial Real Estate Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 6,602 | 7,688 | ||
Commercial Real Estate Loans | 30-59 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 1,060 | 1,509 | |||
Commercial Real Estate Loans | 60-89 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 52 | 21 | |||
Commercial Real Estate Loans | 90 Days or More Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 393 | 330 | |||
Agricultural Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 316,764 | 306,946 | ||
Loans Past Due | 856 | 744 | |||
Loans Not Past Due | 315,908 | 306,202 | |||
Agricultural Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 683 | 706 | ||
Agricultural Loans | 30-59 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 110 | 84 | |||
Agricultural Loans | 60-89 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 0 | 50 | |||
Agricultural Loans | 90 Days or More Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 746 | 610 | |||
Home Equity Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 141,851 | 134,032 | ||
Loans Past Due | 325 | 796 | |||
Loans Not Past Due | 141,526 | 133,236 | |||
Home Equity Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | 0 | 0 | |||
Home Equity Loans | 30-59 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 234 | 707 | |||
Home Equity Loans | 60-89 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 19 | 16 | |||
Home Equity Loans | 90 Days or More Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 72 | 73 | |||
Consumer Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 61,334 | 60,099 | ||
Loans Past Due | 637 | 407 | |||
Loans Not Past Due | 60,697 | 59,692 | |||
Consumer Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 53 | 53 | ||
Consumer Loans | 30-59 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 164 | 175 | |||
Consumer Loans | 60-89 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 40 | 147 | |||
Consumer Loans | 90 Days or More Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 433 | 85 | |||
Residential Mortgage Loans | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 181,886 | 183,770 | ||
Loans Past Due | 4,155 | 5,527 | |||
Loans Not Past Due | 177,731 | 178,243 | |||
Residential Mortgage Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans, net of deferred income | [1] | 928 | 945 | ||
Residential Mortgage Loans | 30-59 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 2,791 | 3,470 | |||
Residential Mortgage Loans | 60-89 Days Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | 982 | 1,251 | |||
Residential Mortgage Loans | 90 Days or More Past Due | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Loans Past Due | $ 382 | $ 806 | |||
|
Loans (Schedule of Recorded Investment of Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Financing Receivable, Modifications [Line Items] | ||
Total | $ 154 | $ 28 |
Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 154 | 28 |
Non-Accrual | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 0 | 0 |
Commercial and Industrial Loans and Leases | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 127 | 28 |
Commercial and Industrial Loans and Leases | Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 127 | 28 |
Commercial and Industrial Loans and Leases | Non-Accrual | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 0 | 0 |
Commercial Real Estate Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 27 | 0 |
Commercial Real Estate Loans | Performing | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 27 | 0 |
Commercial Real Estate Loans | Non-Accrual | ||
Financing Receivable, Modifications [Line Items] | ||
Total | $ 0 | $ 0 |
Loans (Additional Information) (Details) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017
USD ($)
loan
|
Jun. 30, 2016
USD ($)
loan
|
Jun. 30, 2017
USD ($)
loan
|
Jun. 30, 2016
USD ($)
loan
|
Dec. 31, 2016
USD ($)
|
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of loans modified as troubled debt restructurings | loan | 1 | 0 | 2 | 0 | |
Additional lending amount to customers whose loan terms has been modified in troubled debt restructuring | $ 0 | $ 0 | $ 0 | ||
Total allowance for loan losses for troubled debt restructuring loans | 16,000 | 16,000 | 3,000 | ||
Increase in allowance for loan losses for troubled debt restructuring loans | 8,000 | $ 0 | 10,000 | $ 0 | |
Charge-offs due to troubled debt restructurings | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of loans modified as troubled debt restructuring subsequently defaulted | loan | 0 | 0 | 0 | 0 | |
Carrying amount of consumer mortgage loans secured by residential real estate properties | $ 137,000 | $ 137,000 | $ 202,000 | ||
Receivables Acquired with Deteriorated Credit Quality | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Increase in allowance for purchased loans | 0 | $ 0 | 11,000 | $ 0 | |
Reversal allowance for purchased loans | $ 56,000 | $ 0 | $ 56,000 | $ 0 |
Loans Loans (Schedule of Loans Modified as Troubled Debt Restructuring) (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017
USD ($)
loan
|
Jun. 30, 2016
USD ($)
loan
|
Jun. 30, 2017
USD ($)
loan
|
Jun. 30, 2016
USD ($)
loan
|
|
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 1 | 0 | 2 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 127 | $ 0 | $ 155 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 127 | $ 0 | $ 155 | $ 0 |
Commercial and Industrial Loans and Leases | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 1 | 0 | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 127 | $ 0 | $ 127 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 127 | $ 0 | $ 127 | $ 0 |
Commercial Real Estate Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 0 | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 28 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 28 | $ 0 |
Loans (Schedule of Risk Category of Loans) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
|||
---|---|---|---|---|---|
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | $ 2,042,770 | $ 2,001,415 | ||
Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 9,513 | 11,048 | ||
Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 262,809 | ||||
Pass | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 1,570,754 | 1,539,361 | |||
Pass | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 1,479 | 1,897 | |||
Pass | Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 175,915 | ||||
Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 58,887 | 51,673 | |||
Special Mention | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 3,120 | 3,121 | |||
Special Mention | Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 11,638 | ||||
Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 28,058 | 32,480 | |||
Substandard | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 3,933 | 5,032 | |||
Substandard | Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 8,145 | ||||
Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 0 | 0 | |||
Doubtful | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 0 | 0 | |||
Doubtful | Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 0 | ||||
Total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 1,657,699 | 1,623,514 | |||
Total | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 8,532 | 10,050 | |||
Total | Receivables Acquired with Deteriorated Credit Quality | River Valley Bancorp | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 195,698 | ||||
Commercial and Industrial Loans and Leases | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 468,965 | 458,538 | ||
Commercial and Industrial Loans and Leases | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 1,247 | 1,656 | ||
Commercial and Industrial Loans and Leases | Pass | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 449,772 | 437,353 | |||
Commercial and Industrial Loans and Leases | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 8,792 | 10,454 | |||
Commercial and Industrial Loans and Leases | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 10,401 | 10,731 | |||
Commercial and Industrial Loans and Leases | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 0 | 0 | |||
Commercial and Industrial Loans and Leases | Total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 468,965 | 458,538 | |||
Commercial Real Estate Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 871,970 | 858,030 | ||
Commercial Real Estate Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 6,602 | 7,688 | ||
Commercial Real Estate Loans | Pass | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 833,572 | 814,033 | |||
Commercial Real Estate Loans | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 23,865 | 26,549 | |||
Commercial Real Estate Loans | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 14,533 | 17,448 | |||
Commercial Real Estate Loans | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 0 | 0 | |||
Commercial Real Estate Loans | Total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 871,970 | 858,030 | |||
Agricultural Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 316,764 | 306,946 | ||
Agricultural Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 683 | 706 | ||
Agricultural Loans | Pass | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 287,410 | 287,975 | |||
Agricultural Loans | Special Mention | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 26,230 | 14,670 | |||
Agricultural Loans | Substandard | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 3,124 | 4,301 | |||
Agricultural Loans | Doubtful | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 0 | 0 | |||
Agricultural Loans | Total | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | $ 316,764 | $ 306,946 | |||
|
Loans (Schedule of Recorded Investment in Home Equity, Consumer and Residential Mortgage Loans) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
|||
---|---|---|---|---|---|
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | $ 2,042,770 | $ 2,001,415 | ||
Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 9,513 | 11,048 | ||
Home Equity Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 141,851 | 134,032 | ||
Home Equity Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 0 | 0 | |||
Home Equity Loans | Performing | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 141,779 | 133,959 | |||
Home Equity Loans | Nonperforming | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 72 | 73 | |||
Consumer Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 61,334 | 60,099 | ||
Consumer Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 53 | 53 | ||
Consumer Loans | Performing | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 60,901 | 60,014 | |||
Consumer Loans | Nonperforming | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 433 | 85 | |||
Residential Mortgage Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 181,886 | 183,770 | ||
Residential Mortgage Loans | Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 928 | 945 | ||
Residential Mortgage Loans | Performing | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | 181,214 | 182,421 | |||
Residential Mortgage Loans | Nonperforming | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | $ 672 | $ 1,349 | |||
|
Loans (Schedule of Carrying Amount of Loans with Deterioration of Credit Quality) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
|||
---|---|---|---|---|---|
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | $ 2,042,770 | $ 2,001,415 | ||
Commercial and Industrial Loans and Leases | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 468,965 | 458,538 | ||
Commercial Real Estate Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 871,970 | 858,030 | ||
Agricultural Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 316,764 | 306,946 | ||
Consumer Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 61,334 | 60,099 | ||
Residential Mortgage Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 181,886 | 183,770 | ||
Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 9,513 | 11,048 | ||
Carrying Amount, Net of Allowance | 9,453 | 10,943 | |||
Receivables Acquired with Deteriorated Credit Quality | Commercial and Industrial Loans and Leases | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 1,247 | 1,656 | ||
Receivables Acquired with Deteriorated Credit Quality | Commercial Real Estate Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 6,602 | 7,688 | ||
Receivables Acquired with Deteriorated Credit Quality | Agricultural Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 683 | 706 | ||
Receivables Acquired with Deteriorated Credit Quality | Consumer Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | 53 | 53 | ||
Receivables Acquired with Deteriorated Credit Quality | Residential Mortgage Loans | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans, net of deferred income | [1] | $ 928 | $ 945 | ||
|
Loans (Schedule of Accretable Yield, or Income Expected to be Collected) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Beginning Balance | $ 2,790 | $ 2,613 | $ 2,521 | $ 1,279 |
New Loans Purchased | 0 | 0 | 0 | 1,395 |
Accretion of Income | (240) | (415) | (282) | (476) |
Reclassifications from Non-accretable Difference | 155 | 0 | 466 | 0 |
Charge-off of Accretable Yield | 0 | 0 | 0 | 0 |
Ending Balance | $ 2,705 | $ 2,198 | $ 2,705 | $ 2,198 |
Repurchase Agreements Accounted for as Secured Borrowings (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Collateralized Mortgage Backed Securities | Maturity Overnight | FHLB Advances and Other Borrowings | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchased agreements | $ 43,026 | $ 42,412 |
Segment Information (Additional Information) (Details) |
6 Months Ended |
---|---|
Jun. 30, 2017
segment
office
| |
Segment Reporting [Abstract] | |
Number of operating segments | segment | 3 |
Number of offices | office | 52 |
Segment Information (Segment Financial Information) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Segment Reporting Information [Line Items] | |||||
Net Interest Income | $ 24,813 | $ 24,671 | $ 49,538 | $ 45,455 | |
Net Gains on Sales of Loans | 959 | 883 | 1,646 | 1,603 | |
Net Gains on Securities | 0 | 968 | 0 | 968 | |
Trust and Investment Product Fees | 1,350 | 1,223 | 2,593 | 2,244 | |
Insurance Revenues | 1,744 | 1,605 | 4,384 | 4,332 | |
Noncash Items: | |||||
Provision for Loan Losses | 350 | 350 | 850 | 1,200 | |
Depreciation and Amortization | 1,190 | 1,179 | 2,317 | 2,227 | |
Income Tax Expense (Benefit) | 3,425 | 4,249 | 7,246 | 6,014 | |
Segment Profit (Loss) | 9,839 | 9,788 | 19,395 | 14,934 | |
Segment Assets | 3,004,803 | 3,004,803 | $ 2,955,994 | ||
Operating Segments | Core Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest Income | 24,999 | 24,873 | 49,908 | 45,771 | |
Net Gains on Sales of Loans | 959 | 883 | 1,646 | 1,603 | |
Net Gains on Securities | 0 | 968 | 0 | 968 | |
Trust and Investment Product Fees | 1 | 2 | 2 | 3 | |
Insurance Revenues | 12 | 4 | 14 | 8 | |
Noncash Items: | |||||
Provision for Loan Losses | 350 | 350 | 850 | 1,200 | |
Depreciation and Amortization | 1,103 | 1,089 | 2,144 | 2,064 | |
Income Tax Expense (Benefit) | 3,615 | 4,419 | 7,237 | 6,100 | |
Segment Profit (Loss) | 9,791 | 9,800 | 18,756 | 14,881 | |
Segment Assets | 3,001,898 | 3,001,898 | 2,958,585 | ||
Operating Segments | Trust and Investment Advisory Services | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest Income | 1 | 1 | 2 | 0 | |
Net Gains on Sales of Loans | 0 | 0 | 0 | 0 | |
Net Gains on Securities | 0 | 0 | 0 | 0 | |
Trust and Investment Product Fees | 1,350 | 1,221 | 2,594 | 2,241 | |
Insurance Revenues | 8 | 5 | 13 | 13 | |
Noncash Items: | |||||
Provision for Loan Losses | 0 | 0 | 0 | 0 | |
Depreciation and Amortization | 4 | 1 | 7 | 2 | |
Income Tax Expense (Benefit) | 49 | 50 | 83 | 64 | |
Segment Profit (Loss) | 66 | 76 | 110 | 83 | |
Segment Assets | 1,907 | 1,907 | 1,851 | ||
Operating Segments | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest Income | 2 | 1 | 4 | 3 | |
Net Gains on Sales of Loans | 0 | 0 | 0 | 0 | |
Net Gains on Securities | 0 | 0 | 0 | 0 | |
Trust and Investment Product Fees | 0 | 0 | 0 | 0 | |
Insurance Revenues | 1,724 | 1,596 | 4,357 | 4,311 | |
Noncash Items: | |||||
Provision for Loan Losses | 0 | 0 | 0 | 0 | |
Depreciation and Amortization | 19 | 25 | 38 | 51 | |
Income Tax Expense (Benefit) | 48 | 58 | 475 | 568 | |
Segment Profit (Loss) | 74 | 87 | 747 | 877 | |
Segment Assets | 9,774 | 9,774 | 8,494 | ||
Other | |||||
Segment Reporting Information [Line Items] | |||||
Net Interest Income | (189) | (204) | (376) | (319) | |
Net Gains on Sales of Loans | 0 | 0 | 0 | 0 | |
Net Gains on Securities | 0 | 0 | 0 | 0 | |
Trust and Investment Product Fees | (1) | 0 | (3) | 0 | |
Insurance Revenues | 0 | 0 | 0 | 0 | |
Noncash Items: | |||||
Provision for Loan Losses | 0 | 0 | 0 | 0 | |
Depreciation and Amortization | 64 | 64 | 128 | 110 | |
Income Tax Expense (Benefit) | (287) | (278) | (549) | (718) | |
Segment Profit (Loss) | (92) | $ (175) | (218) | $ (907) | |
Segment Assets | $ (8,776) | $ (8,776) | $ (12,936) |
Stock Repurchase Plan (Details) - shares |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Apr. 26, 2001 |
|
Stockholders' Equity Note [Abstract] | |||||
Common stock, authorized shares repurchase (up to) (in shares) | 911,631 | ||||
Common stock, total shares repurchased (in shares) | 502,447 | 502,447 | |||
Common stock, shares purchased (in shares) | 0 | 0 | 0 | 0 |
Equity Plans and Equity Based Compensation (Additional Information) (Details) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017
USD ($)
Plan
shares
|
Jun. 30, 2016
USD ($)
shares
|
Jun. 30, 2017
USD ($)
Plan
installment
shares
|
Jun. 30, 2016
USD ($)
shares
|
Dec. 31, 2016
shares
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based compensation arrangement by share-based payment award, number of plans | Plan | 3 | 3 | |||
Number of shares reserved for grant (in shares) | shares | 412,104 | 412,104 | |||
Stock compensation expense | $ | $ 181,000 | $ 142,000 | $ 340,000 | $ 284,000 | |
Stock granted during period percentage | 60.00% | ||||
Stock cash credit entitlement percentage | 40.00% | ||||
Number of equal installments | installment | 3 | ||||
Stock granted during period (in shares) | shares | 210 | 0 | 38,100 | 48,375 | |
Unrecognized stock expenses in restricted stock | $ | $ 2,739,000 | $ 2,411,000 | |||
Discount from market price, offering date | 95.00% | ||||
Installment 1 | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vested in period percentage | 33.30% | ||||
Installment 2 | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vested in period percentage | 33.30% | ||||
Installment 3 | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vested in period percentage | 33.30% | ||||
Director | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vested in period percentage | 100.00% | ||||
Employee Stock Option | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of options granted (in shares) | shares | 0 | 0 | 0 | 0 | |
Stock compensation expense | $ | $ 0 | $ 0 | $ 0 | $ 0 | |
Unrecognized option expense | $ | $ 0 | 0 | $ 0 | 0 | |
Restricted Stock | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Unvested restricted stock awards (in shares) | shares | 91,263 | 91,263 | 53,163 | ||
Employee Stock Purchase Plan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares reserved for grant (in shares) | shares | 577,426 | 577,426 | |||
Stock compensation expense | $ | $ 0 | 0 | $ 0 | 0 | |
Unrecognized option expense | $ | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of shares authorized provided by the plan (in shares) | shares | 750,000 | 750,000 |
Equity Plans and Equity Based Compensation (Expense Recorded For Restricted Stock And Cash Entitlements) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Restricted Stock Expense | $ 342 | $ 267 | $ 649 | $ 855 |
Cash Entitlement Expense | 181 | 142 | 340 | 284 |
Tax Effect | (205) | (165) | (388) | (461) |
Net of Tax | $ 318 | $ 244 | $ 601 | $ 678 |
Fair Value (Additional Information) (Details) - USD ($) |
3 Months Ended | 6 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Loan held for sale, at fair value | $ 9,844,000 | $ 9,844,000 | $ 15,273,000 | ||
Contractual principal balance of Loan held for sale | 9,622,000 | 9,622,000 | 14,983,000 | ||
Difference in amount of loan held for sale | 222,000 | 222,000 | 290,000 | ||
Impaired loans, carrying amount | 1,711,000 | 1,711,000 | 1,575,000 | ||
Valuation allowance for loans losses | 315,000 | 315,000 | 355,000 | ||
Cost of real estate sales | $ 0 | 0 | 75,000 | ||
Other real estate, carrying value | 0 | 0 | 0 | ||
Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 740,578,000 | 740,578,000 | 709,786,000 | ||
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 6,817,000 | 6,817,000 | 7,648,000 | ||
Obligations of State and Political Subdivisions | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Total gains/loss included in earnings attributable to other changes in fair value | 17,000 | 17,000 | 34,000 | $ 38,000 | |
Obligations of State and Political Subdivisions | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 266,987,000 | 266,987,000 | 247,519,000 | ||
Total gains/loss included in earnings attributable to other changes in fair value | 17,000 | 17,000 | 34,000 | 38,000 | |
Obligations of State and Political Subdivisions | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 6,464,000 | 6,464,000 | 7,295,000 | ||
Equity Securities | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 353,000 | 353,000 | 353,000 | ||
Total gains/loss included in earnings attributable to other changes in fair value | 0 | 0 | 0 | 0 | |
Equity Securities | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities | 353,000 | 353,000 | 353,000 | ||
Commercial Real Estate Loans | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Impaired loans, carrying amount | 865,000 | 865,000 | 663,000 | ||
Valuation allowance for loans losses | 260,000 | 260,000 | 255,000 | ||
Increase (decrease) to provision for loan losses | $ (273,000) | $ (5,000) | $ 5,000 | $ (8,000) | $ 115,000 |
Fair Value (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Assets: | ||
Securities | $ 740,578 | $ 709,786 |
Loans Held-for-Sale | 9,844 | 15,273 |
Derivative Assets | 1,655 | 1,291 |
Mortgage Servicing Rights | 575 | 611 |
Derivative Liabilities | 1,736 | 1,238 |
Obligations of State and Political Subdivisions | ||
Assets: | ||
Securities | 266,987 | 247,519 |
MBS/CMO - Residential | ||
Assets: | ||
Securities | 473,238 | 461,914 |
Equity Securities | ||
Assets: | ||
Securities | 353 | 353 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Assets: | ||
Securities | 0 | 0 |
Loans Held-for-Sale | 0 | 0 |
Derivative Assets | 0 | 0 |
Mortgage Servicing Rights | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Obligations of State and Political Subdivisions | ||
Assets: | ||
Securities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | MBS/CMO - Residential | ||
Assets: | ||
Securities | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity Securities | ||
Assets: | ||
Securities | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Securities | 733,761 | 702,138 |
Loans Held-for-Sale | 9,844 | 15,273 |
Derivative Assets | 1,655 | 1,291 |
Mortgage Servicing Rights | 575 | 611 |
Derivative Liabilities | 1,736 | 1,238 |
Significant Other Observable Inputs (Level 2) | Obligations of State and Political Subdivisions | ||
Assets: | ||
Securities | 260,523 | 240,224 |
Significant Other Observable Inputs (Level 2) | MBS/CMO - Residential | ||
Assets: | ||
Securities | 473,238 | 461,914 |
Significant Other Observable Inputs (Level 2) | Equity Securities | ||
Assets: | ||
Securities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Securities | 6,817 | 7,648 |
Loans Held-for-Sale | 0 | 0 |
Derivative Assets | 0 | 0 |
Mortgage Servicing Rights | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Obligations of State and Political Subdivisions | ||
Assets: | ||
Securities | 6,464 | 7,295 |
Significant Unobservable Inputs (Level 3) | MBS/CMO - Residential | ||
Assets: | ||
Securities | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Equity Securities | ||
Assets: | ||
Securities | $ 353 | $ 353 |
Fair Value (Reconciliation of all Assets Measured at Fair Value on Recurring Basis, Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Obligations of State and Political Subdivisions | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total Gains or Losses Included in Other Comprehensive Income | $ 17 | $ 17 | $ 34 | $ 38 |
Fair Value, Measurements, Recurring | Obligations of State and Political Subdivisions | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance of Recurring Level 3 Assets at April 1 | 6,447 | 8,196 | 7,295 | 9,020 |
Total Gains or Losses Included in Other Comprehensive Income | 17 | 17 | 34 | 38 |
Maturities / Calls | 0 | 0 | (865) | (845) |
Purchases | 0 | 0 | 0 | 0 |
Balance of Recurring Level 3 Assets at June 30 | 6,464 | 8,213 | 6,464 | 8,213 |
Fair Value, Measurements, Recurring | Equity Securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance of Recurring Level 3 Assets at April 1 | 353 | 353 | 353 | 353 |
Total Gains or Losses Included in Other Comprehensive Income | 0 | 0 | 0 | 0 |
Maturities / Calls | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Balance of Recurring Level 3 Assets at June 30 | $ 353 | $ 353 | $ 353 | $ 353 |
Fair Value (Assets and Liabilities Measured at Fair Value on Non-Recurring Basis) (Details) - Fair Value, Measurements, Nonrecurring - Impaired Loans - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Commercial and Industrial Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | $ 37 | $ 60 |
Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 410 | 348 |
Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 158 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial and Industrial Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Commercial and Industrial Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Commercial and Industrial Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 37 | 60 |
Significant Unobservable Inputs (Level 3) | Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | 410 | 348 |
Significant Unobservable Inputs (Level 3) | Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Assets | $ 158 | $ 0 |
Fair Value (Quantitative Information of Fair Value Measurements) (Details) - Impaired Loans - Significant Unobservable Inputs (Level 3) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Commercial and Industrial Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 37 | $ 60 |
Commercial and Industrial Loans | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 0.00% | 0.00% |
Commercial and Industrial Loans | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 100.00% | 100.00% |
Commercial and Industrial Loans | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 95.00% | 89.00% |
Commercial Real Estate Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 410 | $ 348 |
Commercial Real Estate Loans | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 33.00% | 33.00% |
Commercial Real Estate Loans | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 76.00% | 77.00% |
Commercial Real Estate Loans | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 52.00% | 56.00% |
Agricultural Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 158 | |
Range (Weighted Average) | 35.00% | |
Agricultural Loans | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average) | 35.00% |
Fair Value (Carrying Amounts and Estimated Fair Values of Company's Financial Instruments) (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Financial Assets: | ||
Loans, Net | $ 2,016,423 | $ 1,975,147 |
FHLB Stock and Other Restricted Stock | 13,048 | 13,048 |
Financial Liabilities: | ||
Time Deposits | (352,274) | (378,181) |
Level 1 | ||
Financial Assets: | ||
Cash and Short-term Investments | 36,833 | 48,467 |
Loans, Net | 0 | 0 |
Accrued Interest Receivable | 0 | 0 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | (2,011,047) | (1,971,370) |
Time Deposits | 0 | 0 |
Short-term Borrowings | 0 | 0 |
Long-term Debt | 0 | 0 |
Accrued Interest Payable | 0 | 0 |
Level 2 | ||
Financial Assets: | ||
Cash and Short-term Investments | 7,204 | 16,349 |
Loans, Net | 0 | 0 |
Accrued Interest Receivable | 3,555 | 3,289 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | 0 | 0 |
Time Deposits | (351,112) | (378,000) |
Short-term Borrowings | (118,703) | (137,554) |
Long-term Debt | (133,346) | (109,709) |
Accrued Interest Payable | (758) | (775) |
Level 3 | ||
Financial Assets: | ||
Cash and Short-term Investments | 0 | 0 |
Loans, Net | 2,011,522 | 1,980,523 |
Accrued Interest Receivable | 7,732 | 8,124 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | 0 | 0 |
Time Deposits | 0 | 0 |
Short-term Borrowings | 0 | 0 |
Long-term Debt | (11,110) | (10,793) |
Accrued Interest Payable | (15) | (14) |
Carrying Value | ||
Financial Assets: | ||
Cash and Short-term Investments | 44,037 | 64,816 |
Loans, Net | 2,015,818 | 1,974,074 |
FHLB Stock and Other Restricted Stock | 13,048 | 13,048 |
Accrued Interest Receivable | 11,287 | 11,413 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | (2,011,047) | (1,971,370) |
Time Deposits | (352,274) | (378,181) |
Short-term Borrowings | (118,703) | (137,554) |
Long-term Debt | (144,766) | (120,560) |
Accrued Interest Payable | (773) | (789) |
Total | ||
Financial Assets: | ||
Cash and Short-term Investments | 44,037 | 64,816 |
Loans, Net | 2,011,522 | 1,980,523 |
Accrued Interest Receivable | 11,287 | 11,413 |
Financial Liabilities: | ||
Demand, Savings, and Money Market Deposits | (2,011,047) | (1,971,370) |
Time Deposits | (351,112) | (378,000) |
Short-term Borrowings | (118,703) | (137,554) |
Long-term Debt | (144,456) | (120,502) |
Accrued Interest Payable | $ (773) | $ (789) |
Other Comprehensive Income (Loss) (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning Balance | $ 330,267 | |||
Other Comprehensive Income (Loss) Before Reclassification | $ 6,566 | $ 3,983 | 10,564 | $ 8,012 |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | 0 | (629) | 0 | (629) |
Total Other Comprehensive Income | 6,566 | 3,354 | 10,564 | 7,383 |
Ending Balance | 354,954 | 354,954 | ||
Unrealized Gains and Losses on Available-for-Sale Securities | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning Balance | (2,314) | 7,919 | (6,312) | 3,890 |
Other Comprehensive Income (Loss) Before Reclassification | 6,566 | 3,983 | 10,564 | 8,012 |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | 0 | (629) | 0 | (629) |
Total Other Comprehensive Income | 6,566 | 3,354 | 10,564 | 7,383 |
Ending Balance | 4,252 | 11,273 | 4,252 | 11,273 |
Postretirement Benefit Items | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning Balance | (92) | (78) | (92) | (78) |
Other Comprehensive Income (Loss) Before Reclassification | 0 | 0 | 0 | 0 |
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 |
Total Other Comprehensive Income | 0 | 0 | 0 | 0 |
Ending Balance | (92) | (78) | (92) | (78) |
AOCI Including Portion Attributable to Noncontrolling Interest [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Beginning Balance | (2,406) | 7,841 | (6,404) | 3,812 |
Ending Balance | $ 4,160 | $ 11,195 | $ 4,160 | $ 11,195 |
Other Comprehensive Income (Loss) (Classifications out of accumulated other comprehensive income) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income Tax Expense | $ (3,425) | $ (4,249) | $ (7,246) | $ (6,014) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 629 | 0 | 629 |
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 629 | 0 | 629 |
Unrealized Gains and Losses on Available-for-Sale Securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 629 | 0 | 629 |
Unrealized Gains and Losses on Available-for-Sale Securities | Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net Gains on Securities | 0 | 968 | 0 | 968 |
Income Tax Expense | 0 | (339) | 0 | (339) |
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | $ 0 | $ 629 | $ 0 | $ 629 |
Newly Issued Accounting Pronouncements Newly Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|---|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Assets | $ 3,004,803 | $ 2,955,994 | |
Liabilities and Equity | $ 3,004,803 | $ 2,955,994 | |
New Accounting Pronouncement, Early Adoption, Effect | Accounting Standards Update 2016-02 | Scenario, Forecast | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Assets | $ 6,000 | ||
Liabilities and Equity | $ 6,000 |
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