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Note 15 - Fair Value Measurements and Fair Values of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
 
 
 
 
(dollars in thousands)
 
 
 
 
 
Total
   
(Level 1)
Quoted Prices
in Active
Markets for
Identical Assets
   
(Level 2)
Significant
Other
Observable
Inputs
   
 
(Level 3)
Significant
Unobservable
Inputs
 
                                 
December 31, 201
9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
U.S. Government agencies
  $
38,305
    $
-
    $
38,305
    $
-
 
Collateralized mortgage obligations
   
331,438
     
-
     
331,438
     
-
 
Agency mortgage-backed securities
   
98,937
     
-
     
98,937
     
-
 
Municipal securities
   
4,082
     
-
     
4,082
     
-
 
Corporate bonds
   
66,280
     
-
     
63,460
     
2,820
 
Securities Available for Sale
  $
539,042
    $
-
    $
536,222
    $
2,820
 
                                 
Mortgage Loans Held for Sale
  $
10,345
    $
-
    $
10,345
    $
-
 
SBA Servicing Assets
   
4,447
     
-
     
-
     
4,447
 
Interest Rate Lock Commitments
   
362
     
-
     
362
     
-
 
Best Efforts Forward Loan Sales Commitments
   
4
     
-
     
4
     
-
 
Mandatory Forward Loan Sales Commitments
   
2
     
-
     
2
     
-
 
                                 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Interest Rate Lock Commitments
   
-
     
-
     
-
     
-
 
Best Efforts Forward Loan Sales Commitments
   
133
     
-
     
133
     
-
 
Mandatory Forward Loan Sales Commitments
   
83
     
-
     
83
     
-
 
                                 
December 31, 201
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Collateralized mortgage obligations
  $
196,259
    $
-
    $
196,259
    $
-
 
Agency mortgage-backed securities
   
38,499
     
-
     
38,499
     
-
 
Municipal securities
   
20,639
     
-
     
20,639
     
-
 
Corporate bonds
   
59,274
     
-
     
56,205
     
3,069
 
Asset-backed securities
   
6,343
     
-
     
6,343
     
-
 
Securities Available for Sale
  $
321,014
    $
-
    $
317,945
    $
3,069
 
                                 
Mortgage Loans Held for Sale
  $
20,887
    $
-
    $
20,887
    $
-
 
SBA Servicing Assets
   
4,785
     
-
     
-
     
4,785
 
Interest Rate Lock Commitments
   
410
     
-
     
410
     
-
 
Best Efforts Forward Loan Sales Commitments
   
5
     
-
     
5
     
-
 
Mandatory Forward Loan Sales Commitments
   
10
     
-
     
10
     
-
 
                                 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Interest Rate Lock Commitments
   
-
     
-
     
-
     
-
 
Best Efforts Forward Loan Sales Commitments
   
138
     
-
     
138
     
-
 
Mandatory Forward Loan Sales Commitments
   
230
     
-
     
230
     
-
 
Schedule of Servicing Assets at Fair Value [Table Text Block]
 
(dollars in thousands)
 
201
9
   
201
8
   
201
7
 
Beginning balance, January 1
st
  $
4,785
    $
5,243
    $
5,352
 
Additions
   
1,026
     
1,000
     
1,078
 
Fair value adjustments
   
(1,364
)    
(1,458
)    
(1,187
)
Ending balance, December 31
st
  $
4,447
    $
4,785
    $
5,243
 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
   
Year Ended
December 31, 201
9
   
Year Ended
December 31, 201
8
   
Year Ended
December 31, 201
7
 
Level 3 Investments Only
(dollars in thousands)
 
Trust
Preferred
Securities
   
Corporate
Bonds
   
Trust
Preferred
Securities
   
Corporate
Bonds
   
Trust
Preferred
Securities
   
Corporate
Bonds
 
Balance, January 1,
  $
-
    $
3,069
    $
489
    $
3,086
    $
1,820
    $
2,971
 
Security transferred to Level 3 measurement
   
-
     
-
     
-
     
-
     
-
     
-
 
Unrealized (losses) gains
   
-
     
(249
)    
237
     
(17
)    
1,006
     
115
 
Paydowns
   
-
     
-
     
-
     
-
     
-
     
-
 
Proceeds from sales
   
-
     
-
     
(660
)    
-
     
(1,539
)    
-
 
Realized losses
   
-
     
-
     
(66
)    
-
     
(798
)    
-
 
Impairment charges on Level 3
   
-
     
-
     
-
     
-
     
-
     
-
 
Balance, December 31,
  $
-
    $
2,820
    $
-
    $
3,069
    $
489
    $
3,086
 
Fair Value Measurements, Nonrecurring [Table Text Block]
 
(dollars in thousands)
 
 
Total
   
(Level 1)
Quoted Prices
in Active
Markets for
Identical Assets
   
(Level 2)
Significant
Other
Observable
Inputs
   
(Level 3)
Significant
Unobservable
Inputs
 
December 31, 2019:
                               
Impaired loans
  $
5,730
    $
-
    $
-
    $
5,730
 
Other real estate owned
   
899
     
-
     
-
     
899
 
                                 
December 31, 2018:
                               
Impaired loans
  $
5,955
    $
-
    $
-
    $
5,955
 
Other real estate owned
   
1,114
     
-
     
-
     
1,114
 
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
   
Quantitative Information about Level 3 Fair Value Measurements
     
Asset Description
 
Fair Value
 
Valuation
Technique
 
Unobservable Input
 
Range (Weighted
Average)
 
December 31,
201
9
 
 
 
 
       
 
 
   
 
                           
Corporate bonds
  $
2,820
 
Discounted Cash Flows
 
Discount Rate
 
(6.66%)
 
                           
SBA servicing assets
  $
4,447
 
Discounted Cash Flows
 
Conditional Prepayment Rate
 
(13.53%)
 
                           
     
 
 
 
 
Discount Rate
 
(10.75%)
 
                           
Impaired loans
  $
5,730
 
Appraised Value of Collateral (1)
 
Liquidation expenses (2)
 
 9%
-
20%
(12%)
(3)
                           
Other real estate owned
  $
899
 
Appraised Value of Collateral (1)
 
Liquidation expenses (2)
 
 6%
-
16%
(8%)
(3)
                           
December 31, 201
8
 
 
 
 
       
 
 
   
 
                       
Corporate bonds
  $
3,069
 
Discounted Cash Flows
 
Discount Rate
 
(8.24%)
 
                           
SBA servicing assets
  $
4,785
 
Discounted Cash Flows
 
Conditional Prepayment Rate
 
(10.31%)
 
                           
     
 
 
 
 
Discount Rate
 
(11.50%)
 
                           
Impaired loans
  $
5,955
 
Appraised Value of Collateral (1)
 
Liquidation expenses (2)
 
 11%
-
24%
(13%)
(3)
                           
Other real estate owned
  $
1,114
 
Appraised Value of Collateral (1)
 
Liquidation expenses (2)
 
(7%) (3)
 
Fair Value Option, Disclosures [Table Text Block]
   
Carrying
Amount
   
Aggregate Unpaid
Principal Balance
   
Excess Carrying
Amount Over
Aggregate Unpaid
Principal Balance
 
December 31, 2019
  $
10,345
    $
9,983
    $
362
 
                         
December 31, 2018
  $
20,887
    $
20,071
    $
816
 
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block]
(dollars in thousands)
 
December 31, 201
9
   
December 31, 201
8
 
                 
SBA Servicing Asset
 
 
 
 
 
 
 
 
                 
Fair Value of SBA Servicing Asset
  $
4,447
    $
4,785
 
                 
Composition of SBA Loans Serviced for Others
               
Fixed-rate SBA loans
   
2
%    
2
%
Adjustable-rate SBA loans
   
98
%    
98
%
Total
   
100
%    
100
%
                 
Weighted Average Remaining Term (in years)
 
20.7
   
20.4
 
                 
Prepayment Speed
   
13.53
%    
10.31
%
Effect on fair value of a 10% increase
  $
(175
)   $
(170
)
Effect on fair value of a 20% increase
   
(338
)    
(330
)
                 
Weighted Average Discount Rate
   
10.75
%    
11.50
%
Effect on fair value of a 10% increase
  $
(154
)   $
(186
)
Effect on fair value of a 20% increase
   
(298
)    
(359
)
Fair Value, by Balance Sheet Grouping [Table Text Block]
   
Fair Value Measurements at
December
3
1
, 2019
 
 
(dollars in thousands)
 
Carrying
Amount
   
Fair
Value
   
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
   
Significant
Other
Observable
Inputs
(Level 2)
   
Significant
Unobservable
Inputs
(Level 3)
 
Balance Sheet Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial assets:
                                       
Cash and cash equivalents
  $
168,319
    $
168,319
    $
168,319
    $
-
    $
-
 
Investment securities available for sale
   
539,042
     
539,042
     
-
     
536,222
     
2,820
 
Investment securities held to maturity
   
644,842
     
653,109
     
-
     
653,109
     
-
 
Restricted stock
   
2,746
     
2,746
     
-
     
2,746
     
-
 
Loans held for sale
   
13,349
     
13,349
     
-
     
10,345
     
3,004
 
Loans receivable, net
   
1,738,929
     
1,731,876
     
-
     
-
     
1,731,876
 
SBA servicing assets
   
4,447
     
4,447
     
-
     
-
     
4,447
 
Accrued interest receivable
   
9,934
     
9,934
     
-
     
9,934
     
-
 
Interest rate lock commitments
   
362
     
362
     
-
     
362
     
-
 
Best efforts forward loan sales commitments
   
4
     
4
     
-
     
4
     
-
 
Mandatory forward loan sales commitments
   
2
     
2
     
-
     
2
     
-
 
                                         
Financial liabilities:
                                       
Deposits
                                       
Demand, savings and money market
  $
2,775,584
    $
2,775,584
    $
-
    $
2,775,584
    $
-
 
Time
   
223,579
     
224,095
     
-
     
224,095
     
-
 
Subordinated debt
   
11,265
     
8,540
     
-
     
-
     
8,540
 
Accrued interest payable
   
1,630
     
1,630
     
-
     
1,630
     
-
 
Interest rate lock commitments
   
-
     
-
     
-
     
-
     
-
 
Best efforts forward loan sales commitments
   
133
     
133
     
-
     
133
     
-
 
Mandatory forward loan sales commitments
   
83
     
83
     
-
     
83
     
-
 
                                         
Off-Balance Sheet Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commitments to extend credit
   
-
     
-
     
-
     
-
     
-
 
Standby letters-of-credit
   
-
     
-
     
-
     
-
     
-
 
   
Fair Value Measurements at December 31, 201
8
 
 
(dollars in thousands)
 
Carrying
Amount
   
Fair
Value
   
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
   
Significant
Other
Observable
Inputs
(Level 2)
   
Significant
Unobservable
Inputs
(Level 3)
 
Balance Sheet Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial assets:
                                       
Cash and cash equivalents
  $
72,473
    $
72,473
    $
72,473
    $
-
    $
-
 
Investment securities available for sale
   
321,014
     
321,014
     
-
     
317,945
     
3,069
 
Investment securities held to maturity
   
761,563
     
747,323
     
-
     
747,323
     
-
 
Restricted stock
   
5,754
     
5,754
     
-
     
5,754
     
-
 
Loans held for sale
   
26,291
     
26,291
     
-
     
20,887
     
5,404
 
Loans receivable, net
   
1,427,983
     
1,410,945
     
-
     
-
     
1,410,945
 
SBA servicing assets
   
4,785
     
4,785
     
-
     
-
     
4,785
 
Accrued interest receivable
   
9,025
     
9,025
     
-
     
9,025
     
-
 
Interest rate lock commitments
   
410
     
410
     
-
     
410
     
-
 
Best efforts forward loan sales commitments
   
5
     
5
     
-
     
5
     
-
 
Mandatory forward loan sales commitments
   
10
     
10
     
-
     
10
     
-
 
                                         
Financial liabilities:
                                       
Deposits
                                       
Demand, savings and money market
  $
2,238,610
    $
2,238,610
    $
-
    $
2,238,610
    $
-
 
Time
   
154,257
     
152,989
     
-
     
152,989
     
-
 
Subordinated debt
   
11,259
     
8,279
     
-
     
-
     
8,279
 
Accrued interest payable
   
558
     
558
     
-
     
558
     
-
 
Interest rate lock commitments
   
-
     
-
     
-
     
-
     
-
 
Best efforts forward loan sales commitments
   
138
     
138
     
-
     
138
     
-
 
Mandatory forward loan sales commitments
   
230
     
230
     
-
     
230
     
-
 
                                         
Off-Balance Sheet Data
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commitments to extend credit
   
-
     
-
     
-
     
-
     
-
 
Standby letters-of-credit
   
-
     
-
     
-
     
-
     
-