$BOTJ
BANK OF THE JAMES FINANCIAL GROUP INC

2020 Q1 Form 10-Q Financial Statement

#000119312520141390 Filed on May 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $7.488M $7.234M
YoY Change 3.51% 17.53%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $504.0K $377.0K
YoY Change 33.69% 77.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.352M $1.104M
YoY Change 22.46% 33.98%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.237M $1.540M
YoY Change -19.68% 10.16%
Income Tax $242.0K $306.0K
% Of Pretax Income 19.56% 19.87%
Net Earnings $995.0K $1.234M
YoY Change -19.37% 9.88%
Net Earnings / Revenue 13.29% 17.06%
Basic Earnings Per Share $0.23 $0.28
Diluted Earnings Per Share $0.23 $0.28
COMMON SHARES
Basic Shares Outstanding 4.348M 4.378M
Diluted Shares Outstanding 4.348M 4.381M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $64.20M $48.74M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $16.49M $14.47M
YoY Change 13.96% 19.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $800.0K $1.500M
YoY Change -46.67% -6.25%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $746.1M $684.4M
YoY Change 9.01% 4.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $200.0K
YoY Change 0.0% 100.0%
Accrued Expenses $2.900M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $500.0K $3.100M
YoY Change -83.87% 3000.0%
LONG-TERM LIABILITIES
Long-Term Debt $5.000M $5.000M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $8.900M $2.500M
YoY Change 256.0% 8.7%
Total Long-Term Liabilities $13.90M $7.500M
YoY Change 85.33% 2.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $500.0K $3.100M
Total Long-Term Liabilities $13.90M $7.500M
Total Liabilities $682.7M $627.2M
YoY Change 8.85% 4.19%
SHAREHOLDERS EQUITY
Retained Earnings $21.59M $17.49M
YoY Change 23.43%
Common Stock $40.28M $40.89M
YoY Change -1.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $63.33M $57.15M
YoY Change
Total Liabilities & Shareholders Equity $746.1M $684.4M
YoY Change 9.01% 4.71%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $995.0K $1.234M
YoY Change -19.37% 9.88%
Depreciation, Depletion And Amortization $504.0K $377.0K
YoY Change 33.69% 77.0%
Cash From Operating Activities $191.0K $313.0K
YoY Change -38.98% -68.92%
INVESTING ACTIVITIES
Capital Expenditures $159.0K $1.286M
YoY Change -87.64% 381.65%
Acquisitions
YoY Change
Other Investing Activities $6.900M -$5.660M
YoY Change -221.91% -38.68%
Cash From Investing Activities $6.743M -$6.946M
YoY Change -197.08% -26.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $275.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.15M 4.438M
YoY Change 309.01% -83.42%
NET CHANGE
Cash From Operating Activities 191.0K 313.0K
Cash From Investing Activities 6.743M -6.946M
Cash From Financing Activities 18.15M 4.438M
Net Change In Cash 25.09M -2.195M
YoY Change -1242.87% -112.01%
FREE CASH FLOW
Cash From Operating Activities $191.0K $313.0K
Capital Expenditures $159.0K $1.286M
Free Cash Flow $32.00K -$973.0K
YoY Change -103.29% -231.49%

Facts In Submission

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CY2020Q1 us-gaap Basis Of Accounting
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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-weight:bold;">Note 1 &#x2013;</font><font style="display: inline;font-weight:bold;"> Basis of Presentation</font> </p> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">The unaudited consolidated financial statements have been prepared by Bank of the James Financial Group, Inc. (&#x201C;Financial&#x201D; or the &#x201C;Company&#x201D;) pursuant to the rules and regulations of the Securities and Exchange Commission. In management&#x2019;s opinion the accompanying financial statements, which unless otherwise noted are unaudited, reflect all adjustments, consisting solely of normal recurring accruals, necessary for a fair presentation of the financial information as of March 31, 2020 and for the three months ended March 31, 2020 and 2019 in conformity with accounting principles generally accepted in the United States of America.&nbsp;&nbsp;Additional information concerning the organization and business of Financial, accounting policies followed, and other related information is contained in Financial&#x2019;s Annual Report on Form 10-K for the year ended December 31, 2019.&nbsp;&nbsp;These financial statements should be read in conjunction with the audited consolidated financial statements and footnotes for the year ended December 31, 2019 included in Financial&#x2019;s Annual Report on Form 10-K.&nbsp;&nbsp;Results for the three month period ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.</font> </p> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">Certain immaterial reclassifications have been made to prior period balances to conform to the current period presentation.</font> </p> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">The Company&#x2019;s primary market area consists of the area commonly referred to as Region 2000 which encompasses the </font><font style="display: inline;">seven</font><font style="display: inline;"> jurisdictions of the Town of Altavista, Amherst County, Appomattox County, the Town of Bedford, Bedford County, Campbell County, and the City of Lynchburg.&nbsp;&nbsp;Recently, the Company has expanded into Charlottesville, Roanoke, Blacksburg, Harrisonburg, Lexington, and Rustburg.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">Financial&#x2019;s critical accounting policies include the evaluation of the allowance for loan losses which is based on management&#x2019;s estimate of an amount that is adequate to absorb probable losses inherent in the loan portfolio of Bank of the James (the &#x201C;Bank&#x201D;), Financial&#x2019;s wholly-owned subsidiary. The allowance for loan losses is established through a provision for loan losses based on available information including the composition of the loan portfolio, historical loan losses, specific impaired loans, availability and quality of collateral, age of the various portfolios, changes in local economic conditions, and loan performance and quality of the portfolio. Different assumptions used in evaluating the adequacy of the Bank&#x2019;s allowance for loan losses could result in material changes in Financial&#x2019;s financial condition and results of operations. The Bank&#x2019;s policy with respect to the methodology for determining the allowance for loan losses involves a higher degree of complexity and requires management to make subjective judgments that often require assumptions or estimates about uncertain matters. This critical policy and its assumptions are periodically reviewed with the Board of Directors.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">Financial also considers valuation of other real estate owned (OREO) a critical accounting policy.&nbsp; </font><font style="display: inline;">OREO consists of properties acquired through foreclosure or deed in lieu of foreclosure.&nbsp;&nbsp;These properties are carried at fair value less estimated costs to sell at the date of foreclosure.&nbsp;&nbsp;Losses from the acquisition of property in full or partial satisfaction of loans are charged against the allowance for loan losses.&nbsp;&nbsp;Subsequent write-downs, if any, are charged against expense.&nbsp;&nbsp;Gains and losses on the sales of foreclosed properties are included in determining net income in the year of the sale.&nbsp;&nbsp;Operating costs after acquisition are expensed. </font> </p> <p><font size="1"> </font></p> </div> </div>
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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-weight:bold;">Note 10 &#x2013;</font><font style="display: inline;font-weight:bold;"> Recent accounting pronouncements</font><font style="display: inline;font-weight:bold;"> and other authoritative guidance</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, &#x201C;Financial Instruments &#x2013; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.&#x201D;&nbsp;&nbsp;The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The FASB has issued multiple updates to ASU 2016-13 as codified in Topic 326, including ASU&#x2019;s 2019-04, 2019-05, 2019-10, 2019-11, 2020-02, and 2020-03.&nbsp;&nbsp;These ASU&#x2019;s have provided for various minor technical corrections and improvements to the codification as well as other transition matters.&nbsp;&nbsp;Smaller reporting companies who file with the U.S. Securities and Exchange Commission (SEC) and all other entities who do not file with the SEC are required to apply the </font> </p> <p style="margin:0pt 0pt 0pt 36pt;text-indent: -36pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-weight:bold;">Note 10 &#x2013; Recent accounting pronouncements </font><font style="display: inline;font-weight:bold;">and other authoritative guidance </font><font style="display: inline;font-weight:bold;">(continued)</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022.&nbsp; </font><font style="display: inline;">The Company is currently assessing the impact that ASU 2016-13 will have on its consolidated financial statements. The Company has been in discussions with its core processor to coordinate plans for implementation and has contracted with an additional vendor to begin implementation. </font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">Effective November 25, 2019, the SEC adopted Staff Accounting Bulletin (SAB) 119.&nbsp;&nbsp;SAB 119 updated portions of SEC interpretative guidance to align with FASB ASC 326, &#x201C;Financial Instruments &#x2013; Credit Losses.&#x201D;&nbsp;&nbsp;It covers topics including (1) measuring current expected credit losses; (2) development, governance, and documentation of a systematic methodology; (3) documenting the results of a systematic methodology; and (4) validating a systematic methodology.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">In December 2019, the FASB issued ASU 2019-12, &#x201C;Income Taxes (Topic 740) &#x2013; Simplifying the Accounting for Income Taxes.&#x201D;&nbsp;&nbsp;The ASU is expected to reduce cost and complexity related to the accounting for income taxes by removing specific exceptions to general principles in Topic 740 (eliminating the need for an organization to analyze whether certain exceptions apply in a given period) and improving financial statement preparers&#x2019; application of certain income tax-related guidance. This ASU is part of the FASB&#x2019;s simplification initiative to make narrow-scope simplifications and improvements to accounting standards through a series of short-term projects.&nbsp;&nbsp;For public business entities, the amendments are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years.&nbsp;&nbsp;Early adoption is permitted. The Company is currently assessing the impact that ASU 2019-12 will have on its consolidated financial statements.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-style:italic;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">In January 2020, the FASB issued ASU 2020-01, &#x201C;Investments &#x2013; Equity Securities (Topic 321), Investments &#x2013; Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) &#x2013; Clarifying the Interactions between Topic 321, Topic 323, and Topic 815.&#x201D;&nbsp;&nbsp;The ASU is based on a consensus of the Emerging Issues Task Force and is expected to increase comparability in accounting for these transactions.&nbsp;&nbsp;ASU 2016-01 made targeted improvements to accounting for financial instruments, including providing an entity the ability to measure </font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">certain equity securities without a readily determinable fair value at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.&nbsp;&nbsp;Among other topics, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting.&nbsp;&nbsp;For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years.&nbsp;&nbsp;Early adoption is permitted. The Company does not expect the adoption of ASU 2020-01 to have a material impact on its consolidated financial statements</font><font style="display: inline;font-style:italic;">.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04 &#x201C;Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.&#x201D; These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. It is intended to help </font> </p> <p style="margin:0pt 0pt 0pt 36pt;text-indent: -36pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-weight:bold;">Note 10 &#x2013; Recent accounting pronouncements </font><font style="display: inline;font-weight:bold;">and other authoritative guidance</font><font style="display: inline;font-weight:bold;">(continued)</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. The Company has identified a very small number of loans influenced by LIBOR and is currently evaluating different benchmarks that could be used as a substitute for LIBOR.&nbsp;&nbsp;The Company is assessing ASU 2020-04 and its impact on the Company&#x2019;s transition away from LIBOR for its</font><font style="display: inline;"> affected loans.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">On March 12, 2020, the SEC fina</font><font style="display: inline;">lized amendments to</font><font style="display: inline;"> its &#x201C;accelerated filer&#x201D; and &#x201C;large accelerated filer&#x201D; definitions. The amendments increase the threshold criteria for meeting these filer classifications and are effective on April 27, 2020. Any changes in filer status are to be applied beginning with the filer&#x2019;s first annual report filed with the SEC subsequent to the effective date.&nbsp; The rule change expands the definition of &#x201C;smaller reporting companies&#x201D; to include entities with public float of less than $700 million and less than $100 million in annual revenues.&nbsp; This change does not change the Company&#x2019;s annual reporting and audit requirements.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;color:#212529;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">In March 2020, various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, (&#x201C;the agencies&#x201D;) issued an interagency statement on loan modifications and reporting for financial institutions working with customers affected by the Coronavirus. The interagency statement was effective immediately and impacted accounting for loan modifications. Under Accounting Standards Codification 310-40, &#x201C;Receivables &#x2013; Troubled Debt Restructurings by Creditors,&#x201D; (&#x201C;ASC 310-40&#x201D;), a restructuring of debt constitutes a troubled debt restructuring (&#x201C;TDR&#x201D;) if the creditor, for economic or legal reasons related to the debtor</font><font style="display: inline;">&#x2019;s financial difficulties, grant</font><font style="display: inline;">s a concession to the debtor that it would not otherwise consider. The agencies confirmed with the staff of the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not to be considered TDRs. This</font><font style="display: inline;"> includes short-term (e.g., three </font><font style="display: inline;">months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented. The Company has applied a </font><font style="display: inline;">three</font><font style="display: inline;">-month payment deferral option or a </font><font style="display: inline;">three</font><font style="display: inline;">-month interest only option to approximately </font><font style="display: inline;">159</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">individual loans (all of which were current before the onset of the pandemic) totaling approximately </font><font style="display: inline;">$89</font><font style="display: inline;"> million in principal balances.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18152000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6946000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
313000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
191000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
1234000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
995000
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
578103000
CY2020Q1 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
97104000
CY2020Q1 us-gaap Notes Payable
NotesPayable
5000000
CY2020Q1 us-gaap Other Assets
OtherAssets
7642000
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019Q1 us-gaap Occupancy Net
OccupancyNet
421000
CY2020Q1 us-gaap Occupancy Net
OccupancyNet
436000
CY2019Q4 us-gaap Other Assets
OtherAssets
8173000
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1036000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1467000
CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
431000
CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
91000
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
1311000
CY2020Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
2287000
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
275000
CY2020Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
480000
CY2019Q4 us-gaap Other Liabilities
OtherLiabilities
9193000
CY2020Q1 us-gaap Other Liabilities
OtherLiabilities
8934000
CY2020Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
259000
CY2019Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
20671000
CY2020Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
46773000
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
304000
CY2020Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
8259000
CY2020Q1 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
2750000
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1286000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
588000
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
444000
CY2020Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
14619000
CY2019 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
570000
CY2020Q1 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
500000
CY2019Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
20428000
CY2020Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
46037000
CY2019Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
349000
CY2020Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
500000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16698000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16493000
CY2019Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
210000
CY2019 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
523000
CY2020Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
888000
CY2018Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
2430000
CY2020Q1 us-gaap Restricted Investments
RestrictedInvestments
1506000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20900000
CY2020Q1 us-gaap Time Deposits
TimeDeposits
193659000
CY2019Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
2339000
CY2020Q1 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
1761000
CY2019 us-gaap Real Estate Owned Valuation Allowance Amounts Applied
RealEstateOwnedValuationAllowanceAmountsApplied
287000
CY2020Q1 us-gaap Real Estate Owned Valuation Allowance Amounts Applied
RealEstateOwnedValuationAllowanceAmountsApplied
102000
CY2019Q4 us-gaap Restricted Investments
RestrictedInvestments
1506000
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
21591000
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
488000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2990000
CY2019Q1 us-gaap Supplies Expense
SuppliesExpense
162000
CY2020Q1 us-gaap Supplies Expense
SuppliesExpense
127000
CY2019Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
124000
CY2020Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
347000
CY2019Q4 us-gaap Time Deposits
TimeDeposits
192702000
CY2019Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
300000
CY2019 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
785000
CY2020Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
18000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4380959
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
27000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
55143000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
57150000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
61445000
CY2020Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
275000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4348040
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4378436
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4348040

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