$JUVF
JUNIATA VALLEY FINANCIAL CORP

2018 Q4 Form 10-K Financial Statement

#000114420419017688 Filed on April 02, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $6.139M $6.129M $5.944M
YoY Change 13.79% 12.31% 11.14%
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 $250.0K $220.0K $220.0K
YoY Change 25.0% 22.22% 22.22%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.001M $950.0K $890.0K
YoY Change 29.33% 26.33% 26.78%
% of Operating Profit
Other Income/Expense, Net $4.859M $4.847M $4.530M
YoY Change 0.77% 9.12% 7.12%
Pretax Income $1.030M $1.356M $1.603M
YoY Change 9.93% 1.73% 4.23%
Income Tax -$187.0K -$29.00K -$372.0K
% Of Pretax Income -18.16% -2.14% -23.21%
Net Earnings $1.217M $1.385M $1.975M
YoY Change 110.55% 14.84% 52.63%
Net Earnings / Revenue 19.82% 22.6% 33.23%
Basic Earnings Per Share $0.24 $0.27 $0.39
Diluted Earnings Per Share $0.24 $0.27 $0.39
COMMON SHARES
Basic Shares Outstanding 5.094M 5.094M 4.987M
Diluted Shares Outstanding 5.120M

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $16.46M $15.33M
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 $8.744M $8.659M $8.700M
YoY Change -1.61% 29.24% 27.94%
Goodwill $9.139M $9.139M
YoY Change 67.75%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $625.2M $620.7M $631.5M
YoY Change 5.62% 3.47% 4.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.000M $4.600M $6.500M
YoY Change -23.08% -30.3% 10.17%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $14.51M $5.300M $5.400M
YoY Change -33.34% -22.06% -12.9%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.000M $4.600M $6.500M
YoY Change -23.08% -30.3% 10.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.000M $4.600M $6.500M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $557.9M $555.3M $566.9M
YoY Change 4.75% 2.93% 4.59%
SHAREHOLDERS EQUITY
Retained Earnings $42.53M $42.02M
YoY Change 4.03%
Common Stock $5.134M $5.134M
YoY Change 6.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $803.0K $773.0K
YoY Change -3.37%
Treasury Stock Shares $42.20K $40.71K
Shareholders Equity $67.38M $65.38M $64.70M
YoY Change
Total Liabilities & Shareholders Equity $625.2M $620.7M $631.5M
YoY Change 5.62% 3.47% 4.85%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $1.217M $1.385M $1.975M
YoY Change 110.55% 14.84% 52.63%
Depreciation, Depletion And Amortization $250.0K $220.0K $220.0K
YoY Change 25.0% 22.22% 22.22%
Cash From Operating Activities $2.000M $760.0K $1.830M
YoY Change -42.69% -24.75% 71.03%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$180.0K -$30.00K
YoY Change -87.39% 260.0% 50.0%
Acquisitions
YoY Change
Other Investing Activities -$1.520M $8.350M $10.85M
YoY Change -145.65% 162.58% -310.27%
Cash From Investing Activities -$1.810M $8.160M $10.83M
YoY Change -288.54% 161.54% -309.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 940.0K -10.76M -7.650M
YoY Change -111.9% 146.22% -185.86%
NET CHANGE
Cash From Operating Activities 2.000M 760.0K 1.830M
Cash From Investing Activities -1.810M 8.160M 10.83M
Cash From Financing Activities 940.0K -10.76M -7.650M
Net Change In Cash 1.130M -1.840M 5.010M
YoY Change -132.75% 666.67% 4.38%
FREE CASH FLOW
Cash From Operating Activities $2.000M $760.0K $1.830M
Capital Expenditures -$300.0K -$180.0K -$30.00K
Free Cash Flow $2.300M $940.0K $1.860M
YoY Change -60.82% -11.32% 70.64%

Facts In Submission

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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">23.&nbsp;&nbsp;Financial Instruments With Off-Balance Sheet Risk </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments may include commitments to extend credit and letters of credit. Because many commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. These instruments involve, to varying degrees, elements of credit risk that are not recognized in the consolidated financial statements.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">Exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making these commitments and conditional obligations as it does for on-balance sheet instruments. The Company controls the credit risk of its financial instruments through credit approvals, limits and monitoring procedures; however, it does not generally require collateral for such financial instruments since there is no principal credit risk. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">A summary of the Company&#x2019;s financial instrument commitments is as follows:</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Helvetica;font-size: 1pt"> <font style="display: inline;font-family:Times New Roman;font-size:1pt;">&#xFEFF;</font> </p> <div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:63.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:1.00pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;height:1.00pt;overflow:hidden;font-size: 1pt"> <font style="display: inline;font-size:1pt;">&#xFEFF;</font></p> </td> <td valign="bottom" style="width:03.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:1.00pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:1.00pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:04.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:1.00pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:03.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:1.00pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:1.00pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;height:1.00pt;overflow:hidden;font-size:0pt;"> &nbsp;</p> </td> </tr> <tr> <td valign="bottom" style="width:63.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 8pt"> <font style="display: inline;font-style:italic;font-size:8pt;">&#xFEFF;</font><font style="display: inline;font-family:Times New Roman;font-style:italic;font-size:8pt;">(Dollars in thousands)</font></p> </td> <td colspan="5" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">December 31,</font></p> </td> </tr> <tr> <td valign="bottom" style="width:63.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font></p> </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">2018</font></p> </td> <td valign="bottom" style="width:04.38%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Helvetica;overflow: hidden;font-size:0pt;"> &nbsp;</p> </td> <td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">2017</font></p> </td> </tr> <tr> <td valign="bottom" style="width:63.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font><font style="display: inline;font-family:Times New Roman;">Commitments to grant loans</font></p> </td> <td valign="bottom" style="width:03.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">$</font></p> </td> <td valign="bottom" style="width:12.44%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap">72,755&nbsp; </td> <td valign="bottom" style="width:04.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;overflow: hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:03.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">$</font></p> </td> <td valign="bottom" style="width:12.44%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap">77,023&nbsp; </td> </tr> <tr> <td valign="bottom" style="width:63.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font><font style="display: inline;font-family:Times New Roman;">Unfunded commitments under lines of credit</font></p> </td> <td valign="bottom" style="width:03.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;overflow: hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap">14,468&nbsp; </td> <td valign="bottom" style="width:04.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;overflow: hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:03.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;overflow: hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap">3,150&nbsp; </td> </tr> <tr> <td valign="bottom" style="width:63.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font><font style="display: inline;font-family:Times New Roman;">Outstanding letters of credit</font></p> </td> <td valign="bottom" style="width:03.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;overflow: hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap">2,749&nbsp; </td> <td valign="bottom" style="width:04.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;overflow: hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:03.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;padding:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;overflow: hidden;font-size:0pt;"> &nbsp;</p> </td> <td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:12.75pt;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap">2,541&nbsp; </td> </tr> </table></div> <p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since portions of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer's creditworthiness on a case-by-case basis. The amount of collateral obtained by the Bank upon extension of credit is based on management's credit evaluation of the counter-party. Collateral held varies but may include personal or commercial real estate, accounts receivable, inventory and equipment.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">Outstanding letters of credit are instruments issued by the Bank that guarantee the beneficiary payment by the Bank in the event of default by the Bank&#x2019;s customer in the non-performance of an obligation or service. Most letters of credit are extended for one year periods. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Bank holds collateral supporting those commitments for which collateral is deemed necessary. The amount of the liability as of December 31, 2018 and 2017 for guarantees under letters of credit issued is not material.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">The maximum undiscounted exposure related to these guarantees at December 31, 2018 was $</font><font style="display: inline;font-family:Times New Roman;">2,749,000</font><font style="display: inline;font-family:Times New Roman;">, and the approximate value of underlying collateral upon liquidation that would be expected to cover this maximum potential exposure was </font><font style="display: inline;font-family:Times New Roman;">$22,963,000</font><font style="display: inline;font-family:Times New Roman;">.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2016 juvf Gain From Life Insurance Proceeds
GainFromLifeInsuranceProceeds
364000
CY2016 juvf Gross Gains From Business Combinations
GrossGainsFromBusinessCombinations
100000
CY2017 juvf Gross Gains From Business Combinations
GrossGainsFromBusinessCombinations
5000
CY2018Q4 juvf Gross Unrealized Gains On Afs Securities Without Single Maturity Date
GrossUnrealizedGainsOnAfsSecuritiesWithoutSingleMaturityDate
-1000
CY2018 juvf Guarantee Obligations Value Of Underlying Collateral
GuaranteeObligationsValueOfUnderlyingCollateral
22963000
CY2018 juvf Income Tax Credits And Adjustments Period
IncomeTaxCreditsAndAdjustmentsPeriod
P10Y
CY2018 juvf Income Tax Reconciliation Basis Difference Related To Equity Method Investment Prior To Acquisition
IncomeTaxReconciliationBasisDifferenceRelatedToEquityMethodInvestmentPriorToAcquisition
406000
CY2016 juvf Income Tax Reconciliation Gain From Life Insurance Proceeds
IncomeTaxReconciliationGainFromLifeInsuranceProceeds
124000
CY2018 juvf Income Tax Reconciliation Merger And Acquisition Expenses
IncomeTaxReconciliationMergerAndAcquisitionExpenses
33000
CY2018 juvf Increase Decrease In Federal Statutory Tax Rate Tax Cuts And Jobs Act Of2017
IncreaseDecreaseInFederalStatutoryTaxRateTaxCutsAndJobsActOf2017
0.13
CY2016 juvf Increase In Accrued Interest Receivable And Other Assets
IncreaseInAccruedInterestReceivableAndOtherAssets
461000
CY2017 juvf Increase In Accrued Interest Receivable And Other Assets
IncreaseInAccruedInterestReceivableAndOtherAssets
-6000
CY2018 juvf Increase In Accrued Interest Receivable And Other Assets
IncreaseInAccruedInterestReceivableAndOtherAssets
-1493000
CY2017Q4 juvf Interest Bearing Domestic Deposit Time Deposits100000 Or More
InterestBearingDomesticDepositTimeDeposits100000OrMore
8456000
CY2018Q4 juvf Interest Bearing Domestic Deposit Time Deposits100000 Or More
InterestBearingDomesticDepositTimeDeposits100000OrMore
8368000
CY2018 juvf Investee Line Of Credit Maturity Period
InvesteeLineOfCreditMaturityPeriod
P5Y
CY2018 juvf Loans And Leases Receivable Period For Trouble Debt Restructuring Loan To Be Considered In Default
LoansAndLeasesReceivablePeriodForTroubleDebtRestructuringLoanToBeConsideredInDefault
P30D
CY2018 juvf Merger Related Adjustments For Investment In Unconsolidated Subsidiary
MergerRelatedAdjustmentsForInvestmentInUnconsolidatedSubsidiary
215000
CY2017 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossTax
-199000
CY2018 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossTax
-71000
CY2016 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Before Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsBeforeTax
-305000
CY2017 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Before Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsBeforeTax
-1141000
CY2018 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Before Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsBeforeTax
601000
CY2016 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsNetOfTax
-201000
CY2017 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsNetOfTax
-753000
CY2016 juvf Net Amortization Of Purchase Fair Value Adjustments
NetAmortizationOfPurchaseFairValueAdjustments
-9000
CY2017 juvf Net Amortization Of Purchase Fair Value Adjustments
NetAmortizationOfPurchaseFairValueAdjustments
17000
CY2018 juvf Net Amortization Of Purchase Fair Value Adjustments
NetAmortizationOfPurchaseFairValueAdjustments
-102000
CY2016 juvf Net Decrease In Securities Sold Under Agreements To Repurchase
NetDecreaseInSecuritiesSoldUnderAgreementsToRepurchase
-2861000
CY2017 juvf Net Decrease In Securities Sold Under Agreements To Repurchase
NetDecreaseInSecuritiesSoldUnderAgreementsToRepurchase
-10427000
CY2018 juvf Net Decrease In Securities Sold Under Agreements To Repurchase
NetDecreaseInSecuritiesSoldUnderAgreementsToRepurchase
-7258000
CY2016 juvf Net Gains From Life Insurance Claim
NetGainsFromLifeInsuranceClaim
364000
CY2018 juvf Noncash Or Part Nocash Acquisition Interest Bearing Time Deposits With Banks
NoncashOrPartNocashAcquisitionInterestBearingTimeDepositsWithBanks
3675000
CY2018 juvf Noncash Or Part Noncash Acquisition Fhlb Stock Acquired
NoncashOrPartNoncashAcquisitionFhlbStockAcquired
124000
CY2018 juvf Noncash Or Part Noncash Acquisition Loans Acquired
NoncashOrPartNoncashAcquisitionLoansAcquired
31331000
CY2016 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Before Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossBeforeTax
-248000
CY2017 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Before Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossBeforeTax
-584000
CY2018 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Before Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossBeforeTax
-338000
CY2016 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Net Of Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossNetOfTax
-164000
CY2017 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Net Of Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossNetOfTax
-385000
CY2018 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Net Of Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossNetOfTax
-267000
CY2016 juvf Other Comprehensive Income Amortization Of Defined Benefit Plans Net Actuarial Loss Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlansNetActuarialLossTax
-84000
CY2018 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsNetOfTax
475000
CY2016 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsTax
-104000
CY2017 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsTax
-388000
CY2018 juvf Other Comprehensive Income Defined Benefit Plans Net Unrecognized Pension Cost Due To Change In Assumptions Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnrecognizedPensionCostDueToChangeInAssumptionsTax
126000
CY2016 juvf Other Comprehensive Income Loss Before Tax Unrealized Holding Gains From Unconsolidated Subsidiary
OtherComprehensiveIncomeLossBeforeTaxUnrealizedHoldingGainsFromUnconsolidatedSubsidiary
17000
CY2017 juvf Other Comprehensive Income Loss Before Tax Unrealized Holding Gains From Unconsolidated Subsidiary
OtherComprehensiveIncomeLossBeforeTaxUnrealizedHoldingGainsFromUnconsolidatedSubsidiary
-3000
CY2018 juvf Other Comprehensive Income Loss Before Tax Unrealized Holding Gains From Unconsolidated Subsidiary
OtherComprehensiveIncomeLossBeforeTaxUnrealizedHoldingGainsFromUnconsolidatedSubsidiary
-5000
CY2016 juvf Other Comprehensive Income Loss Net Of Tax Unrealized Holding Gains From Unconsolidated Subsidiary
OtherComprehensiveIncomeLossNetOfTaxUnrealizedHoldingGainsFromUnconsolidatedSubsidiary
17000
CY2017 juvf Other Comprehensive Income Loss Net Of Tax Unrealized Holding Gains From Unconsolidated Subsidiary
OtherComprehensiveIncomeLossNetOfTaxUnrealizedHoldingGainsFromUnconsolidatedSubsidiary
-3000
CY2018 juvf Other Comprehensive Income Loss Net Of Tax Unrealized Holding Gains From Unconsolidated Subsidiary
OtherComprehensiveIncomeLossNetOfTaxUnrealizedHoldingGainsFromUnconsolidatedSubsidiary
-5000
CY2017Q4 juvf Other Interest Bearing Liabilites
OtherInterestBearingLiabilites
1593000
CY2018Q4 juvf Other Interest Bearing Liabilites
OtherInterestBearingLiabilites
1596000
CY2017 juvf Percentage Of Increase Decrease In Pension Liability
PercentageOfIncreaseDecreaseInPensionLiability
0.12
CY2018 juvf Percentage Of Increase Decrease In Pension Liability
PercentageOfIncreaseDecreaseInPensionLiability
0.09
CY2016 juvf Purchases Of Bank Owned Life Insurance And Annuities
PurchasesOfBankOwnedLifeInsuranceAndAnnuities
53000
CY2017 juvf Purchases Of Bank Owned Life Insurance And Annuities
PurchasesOfBankOwnedLifeInsuranceAndAnnuities
40000
CY2018 juvf Purchases Of Bank Owned Life Insurance And Annuities
PurchasesOfBankOwnedLifeInsuranceAndAnnuities
39000
CY2016 juvf Securities Sold Not Yet Settled
SecuritiesSoldNotYetSettled
104000
CY2018Q4 juvf Shares Available For Issuance Under Dividend Reinvestment Plan
SharesAvailableForIssuanceUnderDividendReinvestmentPlan
141887
CY2018 juvf Special Merger Related Dividend
SpecialMergerRelatedDividend
39000
CY2017 juvf Tax Cuts And Jobs Act Of2017 Reclassification Out Of Accumulated Other Comprehensive Income To Income
TaxCutsAndJobsActOf2017ReclassificationOutOfAccumulatedOtherComprehensiveIncomeToIncome
416000
CY2016 juvf Total Comprehensive Income Before Tax Amount
TotalComprehensiveIncomeBeforeTaxAmount
4459000
CY2017 juvf Total Comprehensive Income Before Tax Amount
TotalComprehensiveIncomeBeforeTaxAmount
5237000
CY2018 juvf Total Comprehensive Income Before Tax Amount
TotalComprehensiveIncomeBeforeTaxAmount
5106000
CY2016 juvf Total Comprehensive Income Tax Expense
TotalComprehensiveIncomeTaxExpense
309000
CY2017 juvf Total Comprehensive Income Tax Expense
TotalComprehensiveIncomeTaxExpense
937000
CY2018 juvf Total Comprehensive Income Tax Expense
TotalComprehensiveIncomeTaxExpense
-689000
CY2016 juvf Transfer Of Loans To Repossessed Assets
TransferOfLoansToRepossessedAssets
20000
CY2017 juvf Transfer Of Loans To Repossessed Assets
TransferOfLoansToRepossessedAssets
21000
CY2018 juvf Transfer Of Loans To Repossessed Assets
TransferOfLoansToRepossessedAssets
12000
CY2018Q4 juvf Undistributed Earnings Of Subsidiary Available For Distribution
UndistributedEarningsOfSubsidiaryAvailableForDistribution
42119000
CY2016 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-740000
CY2017 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-650000
CY2018 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-540000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9495000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10276000
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-866000
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-1683000
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-2647000
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
2343000
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
2351000
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
1652000
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-3209000
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4034000
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4299000
CY2016 us-gaap Acquisition Costs
AcquisitionCosts
347000
CY2017 us-gaap Acquisition Costs
AcquisitionCosts
13000
CY2017Q4 us-gaap Acquisition Costs
AcquisitionCosts
13000
CY2018Q1 us-gaap Acquisition Costs
AcquisitionCosts
64000
CY2018 us-gaap Acquisition Costs
AcquisitionCosts
884000
CY2018Q2 us-gaap Acquisition Costs
AcquisitionCosts
376000
CY2018Q3 us-gaap Acquisition Costs
AcquisitionCosts
185000
CY2018Q4 us-gaap Acquisition Costs
AcquisitionCosts
259000
CY2017Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
18565000
CY2018Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
24821000
CY2018 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Advertising</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">The Company follows the policy of charging costs of advertising to expense as incurred. Advertising expenses were $</font><font style="display: inline;font-family:Times New Roman;">294,000</font><font style="display: inline;font-family:Times New Roman;">, $</font><font style="display: inline;font-family:Times New Roman;">272,000</font><font style="display: inline;font-family:Times New Roman;"> and $</font><font style="display: inline;font-family:Times New Roman;">243,000</font><font style="display: inline;font-family:Times New Roman;"> in 2018, 2017 and 2016, respectively.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2016 us-gaap Advertising Expense
AdvertisingExpense
243000
CY2017 us-gaap Advertising Expense
AdvertisingExpense
272000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
294000
CY2016 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
67000
CY2017 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
71000
CY2018 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
82000
CY2016 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
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185000
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2435000
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42000
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139000
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32000
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Otherwise, there were no concentrations of credit to any particular industry equaling more than 25% of total capital.
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Significant group concentrations of credit risk</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">Most of the Company&#x2019;s activities are with customers located within the Juniata Valley and the JVB Northern Tier regions. Note 6 discusses the types of securities in which the Company invests. Note 7 discusses the types of lending in which the Company engages. </font> </p> <p style="margin:0pt 0pt 0pt 21.6pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">As of December 31, 2018, credit exposure to lessors of non-residential buildings and dwellings represented </font><font style="display: inline;font-family:Times New Roman;">55.3%</font><font style="display: inline;font-family:Times New Roman;"> of capital, credit exposure to hotels and motels represented </font><font style="display: inline;font-family:Times New Roman;">40.0%</font><font style="display: inline;font-family:Times New Roman;"> of capital, credit exposure to continuing care retirement communities represented </font><font style="display: inline;font-family:Times New Roman;">28.4%</font><font style="display: inline;font-family:Times New Roman;"> of capital, and credit exposure to residential buildings and dwellings represented </font><font style="display: inline;font-family:Times New Roman;">27.9%</font><font style="display: inline;font-family:Times New Roman;"> of capital. </font><font style="display: inline;font-family:Times New Roman;">Otherwise, there were no concentrations of credit to any particular industry equaling more than </font><font style="display: inline;font-family:Times New Roman;">25%</font><font style="display: inline;font-family:Times New Roman;"> of total capital.</font><font style="display: inline;font-family:Times New Roman;"> The Bank&#x2019;s business activities are geographically concentrated in the counties of Juniata, Mifflin, Perry, Huntingdon, Centre, Franklin, McKean, Potter and Snyder, Pennsylvania. The Bank has a diversified loan portfolio; however, a substantial portion of its debtors&#x2019; ability to honor their obligations is dependent upon the economy in central Pennsylvania.</font> </p> <p><font size="1"> </font></p> </div> </div>
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-210000
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234000
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199000
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CY2018 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;line-height:115%;text-align:left;font-family:Trebuchet MS;color:#685040;text-justify:inter-ideograph;font-size: 9pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;font-size:9pt;background-color:lime;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">3.&nbsp;&nbsp;RECENT ACCOUNTING STANDARDS UPDATE (&#x201C;asu&#x201D;)</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 9pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-size:9.5pt;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;text-decoration:underline;">New Accounting Standards Adopted in 2018 </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;">ASU 2014-09, Revenue from Contracts with Customers (Topic 606)</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Issued: </font><font style="display: inline;font-family:Times New Roman;">May 2014</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Summary:</font><font style="display: inline;font-family:Times New Roman;"> The amendments in this Update establish a comprehensive revenue recognition standard for virtually all industries under U.S. GAAP, including those that previously followed industry-specific guidance. The revenue standard&#x2019;s core principle requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To accomplish this objective, the standard requires five basic steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">In August 2015, the FASB issued </font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;">ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date</font><font style="display: inline;font-family:Times New Roman;">. ASU 2015-14 deferred the effective date of the new revenue recognition standard by one year. As a result, the standard was effective for public entities in fiscal years beginning after December 15, 2017. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">The Company adopted the ASU 2014-09 on January 1, 2018 and elected the modified retrospective transition method. Because the amended guidance does not apply to revenue associated with financial instruments accounted for under other U.S. GAAP, the Company assessed the effect the guidance had on the recognition processes of certain recurring revenue streams related to non-interest income. The Company did not identify any significant changes in the timing of revenue recognition when considering the amended accounting guidance. Additional disclosures related to revenue recognition appear in Note 21.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;">ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income</font><font style="display: inline;font-family:Times New Roman;font-style:italic;font-size:9pt;">. &nbsp;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 9pt"> <font style="display: inline;font-family:Times New Roman;font-size:9pt;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Issued: </font><font style="display: inline;font-family:Times New Roman;">February 2018</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 9pt"> <font style="display: inline;font-family:Times New Roman;font-size:9pt;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Summary:</font><font style="display: inline;font-family:Times New Roman;font-size:9pt;"> &nbsp; &nbsp;</font><font style="display: inline;font-family:Times New Roman;">The Update allows entities to reclassify from accumulated other comprehensive income (&#x201C;AOCI&#x201D;) to retained earnings the 'stranded' tax effects of</font><font style="display: inline;font-family:Times New Roman;font-weight:bold;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;">accounting for income tax rate changes on items accounted for in AOCI that were impacted by tax reform enacted in December 2017. Because the impact of tax rate changes is recorded in income, items accounted for in AOCI could be left with a stranded tax effect appearing as though those items do not reflect the appropriate tax rate. The FASB's changes were intended to improve the usefulness of information reported to financial statement users. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Effective Date:</font><font style="display: inline;font-family:Times New Roman;"> &nbsp;The changes are effective for years beginning after December 31, 2018, with early adoption permitted. The Company elected to adopt the changes in the first quarter of 2018, as of December 31, 2017. The amount transferred from AOCI to retained earnings totaled </font><font style="display: inline;font-family:Times New Roman;">$588,000</font><font style="display: inline;font-family:Times New Roman;"> and represented the impact of the Company&#x2019;s corporate tax rate change from </font><font style="display: inline;font-family:Times New Roman;">34%</font><font style="display: inline;font-family:Times New Roman;"> to </font><font style="display: inline;font-family:Times New Roman;">21%</font><font style="display: inline;font-family:Times New Roman;"> at the date of enactment of the tax reform for the unrealized gains and losses on securities and the defined benefit plan accounted for in AOCI.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;">ASU 2016-01, Measurement of Financial Instruments</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Issued: </font><font style="display: inline;font-family:Times New Roman;">January 2016</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 9pt"> <font style="display: inline;font-family:TrebuchetMS-Bold;font-weight:bold;font-size:9.5pt;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Summary:</font><font style="display: inline;font-family:Times New Roman;"> The amendments in this Update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those changes accounted for under the equity method of accounting or those that result in consolidation of the investee).&nbsp;The amendments in this Update also require an entity to present separately in AOCI the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the Update emphasizes the existing requirement to use exit prices to measure fair value for disclosure purposes and clarifies that entities should not make use of a practicability exception in determining the fair value of loans.&nbsp;&nbsp;Accordingly, we refined the calculations used to determine the disclosed fair value of our loans as part of adopting this standard. The redefined calculation did not have a significant impact on our fair value disclosures.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Effective Date:</font><font style="display: inline;font-family:Times New Roman;"> For public entities, the amendments in the Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years.&nbsp;The Company currently holds a small portfolio of equity investments for which the fair value fluctuates with market activity. The Company adopted ASU 2016-01 on January 1, 2018. As of this date, the Company had </font><font style="display: inline;font-family:Times New Roman;">$197,000</font><font style="display: inline;font-family:Times New Roman;"> in unrealized gains on equity securities (see Note 6). The adoption of this Update resulted in a reclassification of </font><font style="display: inline;font-family:Times New Roman;">$156,000</font><font style="display: inline;font-family:Times New Roman;"> from other comprehensive loss to retained earnings. The Company recorded a decline of </font><font style="display: inline;font-family:Times New Roman;">$1,000</font><font style="display: inline;font-family:Times New Roman;"> during the year ended December 31, 2018 for the change in fair value of equity securities on the consolidated statements of income.</font> </p> <p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;">ASU 2018-03, Technical Corrections and Improvements to Financial Instruments &#x2013; Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities</font> </p> <p style="margin:0pt;line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Issued:</font><font style="display: inline;font-family:Times New Roman;"> February 2018</font> </p> <p style="margin:0pt;line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Summary:</font><font style="display: inline;font-family:Times New Roman;"> The FASB issued this Update to clarify certain aspects of the guidance on recognizing and measuring financial assets and liabilities in ASU 2016-01:</font> </p> <p style="margin:0pt;line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="margin:0pt 0pt 8pt;font-family:Symbol;line-height:105%;text-align:left;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Clarification regarding the ability to discontinue application of the measurement alternative for equity securities without a readily determinable fair value;</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="margin:0pt 0pt 8pt;font-family:Symbol;line-height:105%;text-align:left;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Clarification of the measurement date for fair value adjustments to the carrying amount of equity securities without a readily determinable fair value for which the measurement alternative is elected;</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="margin:0pt 0pt 8pt;font-family:Symbol;line-height:105%;text-align:left;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Clarification of the unit of account for fair value adjustments to forward contracts and purchased options on equity securities without a readily determinable fair value for which the measurement alternative is expected to be elected;</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="margin:0pt 0pt 8pt;font-family:Symbol;line-height:105%;text-align:left;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Presentation requirements for certain hybrid financial liabilities for which the fair value option is elected;</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="margin:0pt 0pt 8pt;font-family:Symbol;line-height:105%;text-align:left;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Measurement of financial liabilities denominated in a foreign currency for which the fair value option is elected; and</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="margin:0pt 0pt 8pt;font-family:Symbol;line-height:105%;text-align:left;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt 0pt 8pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Transition guidance for equity securities without a readily determinable fair value.</font></p></td></tr></table></div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;line-height:105%;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments in ASU 2018-03 are effective for public business entities for fiscal years beginning after December 15, 2017 and for interim periods within those fiscal years beginning after June 15, 2018. For all other entities, the effective date is the same as the effective date for ASU 2016-01. All entities may early adopt the amendments, including adoption in an interim period, provided they have already adopted ASU 2016-01. The Company adopted this Update in conjunction with the adoption of ASU 2016-01 on January 1, 2018. The adoption had </font><font style="display: inline;font-family:Times New Roman;color:#000000;">no material impact to the Company&#x2019;s consolidated financial position or results of operations.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2017-09, Scope of Modification Accounting</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">May 2017</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2017-09 clarifies Topic 718 such that an entity must apply modification accounting to changes in the terms or conditions of a share-based payment award unless all of the following criteria are met:</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size:10pt;;"> 1.</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">The fair value of the modified award is the same as the fair value of the original award immediately before the modification.&nbsp;&nbsp;The standard indicates that if the modification does not affect any of the inputs to the valuation technique used to value the award, the entity is not required to estimate the value immediately before and after the modification.</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size:10pt;;"> 2.</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the modification.</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size:10pt;;"> 3.</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the modification. </font></p></td></tr></table></div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 9pt"> <font style="display: inline;font-family:Times New Roman;font-size:9.5pt;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments were effective for all entities for fiscal years beginning after December 15, 2017, including interim periods within those years. The Company adopted ASU 2017-09 on January 1, 2018 and it had no material impact on the Company&#x2019;s consolidated financial position or results of operations.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">March 2017</font> </p> <p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2017-08 shortens the amortization period for premiums on purchased callable debt securities to the earliest call date, rather than amortizing over the full contractual term. The ASU does not change the accounting for securities held at a discount.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments are effective for public business entities for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company chose to early adopt this standard, and the financial statements as of, and for the year ended, December 31, 2017 reflected the impact of premium amortization on callable debt securities to the earliest call date. The adoption of this ASU did not have a material impact on the Company&#x2019;s consolidated financial statements.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: March 2017</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2017-07 requires that an employer disaggregate the service cost component from the other components of net benefit cost.</font><font style="display: inline;font-family:inherit;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments also provide explicit guidance on how to present the service cost component and the other components of net benefit cost in the income statement and allows only the service cost component of net benefit cost to be eligible for capitalization.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments were effective for public business entities for fiscal years beginning after December 15, 2017. The Company adopted this Update on January 1, 2018, and it had no impact on the Company&#x2019;s consolidated financial position and results of operations because the Company&#x2019;s defined benefit plan is frozen; therefore, there is no service cost component to consider. The cost for other components related to the defined benefit plan are recorded in employee benefits expense on the consolidated statements of income.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments</font> </p> <p style="margin:16pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">August 2016</font> </p> <p style="margin:0pt 0pt 12pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2016-15 clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments are intended to reduce diversity in practice.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments were effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The Company adopted this Update on January 1, 2018 and it did not have a material impact on the Company&#x2019;s consolidated financial position or results of operations.</font> </p> <p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;text-decoration:underline;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> </p> <p><font size="1"> </font></p> <p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;;font-size: 10pt"><font style="display: inline;font-family:Times New Roman;font-weight:bold;text-decoration:underline;"></font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;text-decoration:underline;">Pending Accounting Standards</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;text-decoration:underline;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;">ASU 2016-02, Leases</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Issued: </font><font style="display: inline;font-family:Times New Roman;">February 2016</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 9pt"> <font style="display: inline;font-family:TrebuchetMS-Bold;font-weight:bold;font-size:9.5pt;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Summary: </font><font style="display: inline;font-family:Times New Roman;">The new standard establishes a right-of-use (&#x201C;ROU&#x201D;) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">In July 2018, the FASB issued </font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;">ASU-2018-10, Codification Improvements to Topic 842, Leases</font><font style="display: inline;font-family:Times New Roman;">. ASU 2018-10 clarifies the intended application of certain narrow aspects of the guidance in ASU 2016-02. The amendments are similar in nature to those in the FASB&#x2019;s ongoing project to make improvements to clarify the Codification or correct unintended application of the guidance. Key amendments in this ASU include:</font> </p> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;font-family:Symbol;text-align:justify;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Updating the definition of Rate Implicit in the Lease to clarify that the rate cannot be less than zero;</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;font-family:Symbol;text-align:justify;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Clarifying application of guidance for lessors when determining impairment of net investment in the lease;</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;font-family:Symbol;text-align:justify;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Clarifying whether lessors and lessees should recognize certain transition adjustments to earnings rather than through equity;</font></p></td></tr></table></div> <div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="margin:0pt;font-family:Symbol;text-align:justify;text-justify:inter-ideograph;font-size:10pt;;"> &#xB7;</font> </p> </td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top"> <p style="text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt;margin:0pt;"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Clarifying certain transition guidance for amounts previously recognized in business combinations.</font></p></td></tr></table></div> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">In July 2018, the FASB also issued </font><font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2018-11, Leases (Topic 842): Targeted Improvements</font><font style="display: inline;font-family:Times New Roman;color:#000000;">. ASU 2018-11 provides entities with an additional (and optional) transition method to adopt the new leases standard. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2018-11 also provides lessors with a practical expedient, by class of underlying asset, to elect not to separate nonlease components from the associated lease component and, instead, to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue guidance (Topic 606) and both the timing and pattern of transfer of the nonlease component(s) and associated lease component are the same, and the lease component, if accounted for separately, would be classified as an operating lease. If the nonlease component or components associated with the lease component are the predominant component of the combined component, an entity is required to account for the combined component in accordance with Topic 606. Otherwise, the entity must account for the combined component as an operating lease in accordance with Topic 842. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date:</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The effective date and transition requirements of ASU 2018-10 and ASU 2018-11 are the same as the effective date and transition requirements in Topic 842. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">The Company adopted ASU 2016-02 on January 1, 2019 using the optional transition method. The Company also elected the following practical expedients: the package of practical expedients, combining lease and nonlease components by class of underlying asset, and using hindsight in determining the lease terms. </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The adoption of this standard resulted in the recording of a ROU asset of </font><font style="display: inline;font-family:Times New Roman;color:#000000;">$519,000</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> and a lease liability of </font><font style="display: inline;font-family:Times New Roman;color:#000000;">$510,000</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> as of January 1, 2019 for the Company&#x2019;s four operating lease obligations. The adoption of this standard is not expected to have a material impact on the Company&#x2019;s operations, cash flows or capital ratios, nor should it cause the Company to no longer be well capitalized. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;text-decoration:underline;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2018-14, Compensation&#x2014;Retirement Benefits&#x2014;Defined Benefit Plans&#x2014;General (Topic 715-20): Disclosure Framework&#x2014;Changes to the Disclosure Requirements for Defined Benefit Plans</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">August 2018</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2018-14 modifies the disclosure requirements under ASC 715-20 for employers that sponsor defined benefit pension or other postretirement plans. Those modifications include the removal and addition of disclosure requirements as well as clarifying specific disclosure requirements.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments are effective for public business entities for fiscal years ending after December 15, 2020. For all other entities, the amendments are effective for annual reporting periods ending after December 15, 2021. Early adoption is permitted. This Update will have no impact on the Company&#x2019;s consolidated financial position and results of operations because in August 2018, Juniata&#x2019;s Board of Directors resolved to terminate the Company&#x2019;s </font><font style="display: inline;font-family:Times New Roman;color:#000000;">defined benefit retirement plan, The Juniata Valley Bank Retirement Plan</font><font style="display: inline;font-family:Times New Roman;color:#000000;">, effective November 30, 2018. All participants have been properly notified and settlement of all obligations is expected to occur in mid-2019. See Note 22 for additional information. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework&#x2014;Changes to the Disclosure Requirements for Fair Value Measurement</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">August 2018</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2018-13 modifies the disclosure requirements for fair value measurements required under ASC 820. Those modifications include the removal and addition of disclosure requirements as well as clarifying specific disclosure requirements.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments become effective for all entities for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted upon issuance of this ASU. An entity is permitted to early adopt all disclosure requirements in the ASU or early adopt only the removed and modified disclosures and delay adoption of the additional disclosures until their effective date. This Update is not expected to have an impact on the Company&#x2019;s consolidated financial position or results of operations.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">August 2017</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2017-12 improves Topic 815</font><font style="display: inline;font-family:Times New Roman;color:#000000;font-size:5pt;vertical-align:super;line-height:100%">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">by simplifying and expanding the eligible hedging strategies for financial and nonfinancial risks by more closely aligning hedge accounting with a company&#x2019;s risk management activities, and also simplifies its application through targeted improvements in key practice areas. This includes expanding the list of items eligible to be hedged and amending the methods used to measure the effectiveness of hedging relationships. In addition, the ASU prescribes how hedging results should be presented and requires incremental disclosures. These changes are intended to allow preparers more flexibility and to enhance the transparency of how hedging results are presented and disclosed. Further, the new standard provides partial relief on the timing of certain aspects of hedge documentation and eliminates the requirement to recognize hedge ineffectiveness separately in earnings in the current period.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments are effective for public business entities, for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early application is permitted in any interim period after issuance of the amendments for existing hedging relationships on the date of adoption.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">This Update will have no impact on the Company&#x2019;s consolidated financial position and results of operations.</font> </p> <p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2017-04, Simplifying the Test for Goodwill Impairment</font> </p> <p style="margin:16pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">January 2017</font> </p> <p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2017-04 eliminates the requirement of Step 2 in the current guidance to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit&#x2019;s carrying amount over its fair value in Step 1 of the current guidance.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">The amendments are effective for public business entities for fiscal years beginning after December 15, 2019. The adoption of this Update is not expected to have an impact on the Company&#x2019;s consolidated financial position and results of operations.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">ASU 2016-13, Financial Instruments &#x2013; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;font-style:italic;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Issued: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">June 2016</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 9pt"> <font style="display: inline;font-family:TrebuchetMS-Bold;font-weight:bold;font-size:9.5pt;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Summary: </font><font style="display: inline;font-family:Times New Roman;color:#000000;">ASU 2016-13 requires credit losses on most financial assets to be measured at amortized cost and certain other instruments to be measured using an expected credit loss model (referred to as the current expected credit loss (&#x201C;CECL&#x201D;) model). Under this model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments, but not expected extensions or modifications unless reasonable expectation of a troubled debt restructuring exists) from the date of initial recognition of that instrument. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">The ASU also replaces the current accounting model for purchased credit impaired loans and debt securities. The allowance for credit losses for purchased financial assets with a more-than insignificant amount of credit deterioration since origination (&#x201C;PCD assets&#x201D;), should be determined in a similar manner to other financial assets measured on an amortized cost basis. However, upon initial recognition, the allowance for credit losses is added to the purchase price (&#x201C;gross up approach&#x201D;) to determine the initial amortized cost basis. The subsequent accounting for PCD financial assets is the same expected loss model described above.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">Further, the ASU made certain targeted amendments to the existing impairment model for available for sale (AFS) debt securities. For an AFS debt security for which there is neither the intent nor a more-likely-than-not requirement to sell, an entity will record credit losses as an allowance rather than a write-down of the amortized cost basis.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;color:#000000;">Effective Date:</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;</font><font style="display: inline;font-family:Times New Roman;color:#000000;">The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years.</font><font style="display: inline;font-family:Times New Roman;color:#000000;">&nbsp;While the Company&#x2019;s senior management is currently in the process of evaluating the impact of the amended guidance on its consolidated financial statements and disclosures, it currently expects the ALLL to increase upon adoption given that the allowance will be required to cover the full remaining expected life of the portfolio, rather than the incurred loss under current U.S. GAAP. The extent of this increase is still being evaluated and will depend on economic conditions and the composition of the Company&#x2019;s loan portfolio at the time of adoption. In preparation, the Company has taken steps to prepare for the implementation when it becomes effective by forming an internal taskforce, gathering pertinent data, participating in training courses, and partnering with a software provider that specializes in ALLL analysis, as well as assessing the sufficiency of data currently available through its core database. </font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;color:#000000;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
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CY2016Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12447000
CY2017Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
7731000
CY2018Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
2133000
CY2017 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
9
CY2018 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
9
CY2017 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
442000
CY2018 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
575000
CY2017 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
413000
CY2018 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
547000
CY2017Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
339000
CY2018Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
445000
CY2017Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
215000
CY2018Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
336000
CY2017Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
382804000
CY2018Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
414328000
CY2017Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
2874000
CY2018Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
1707000
CY2017Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
1100000
CY2018Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
3303000
CY2017Q4 us-gaap Finite Lived Core Deposits Gross
FiniteLivedCoreDepositsGross
195000
CY2018Q4 us-gaap Finite Lived Core Deposits Gross
FiniteLivedCoreDepositsGross
405000
CY2016 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
218000
CY2017 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
512000
CY2018 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-188000
CY2016 us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
228000
CY2017 us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
107000
CY2018 us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
70000
CY2016 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-148000
CY2017 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
8000
CY2016 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
113000
CY2016 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-150000
CY2017 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
8000
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
3402000
CY2017 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
3402000
CY2018 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
3402000
CY2018 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
60000
CY2017Q4 us-gaap Goodwill
Goodwill
5448000
CY2018Q4 us-gaap Goodwill
Goodwill
9139000
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2018 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2018Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
2749000
CY2017Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
0
CY2018Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
0
CY2016 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
9967000
CY2017 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
10882000
CY2018 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
5955000
CY2016 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
524000
CY2017 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
393000
CY2018 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
19000
CY2016 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
37000
CY2017 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
20000
CY2018 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
33000
CY2017Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
8259000
CY2018Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
3648000
CY2017Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
10803000
CY2018Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
6008000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5975000
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1789000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5597000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1538000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1333000
CY2017Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
937000
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1256000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5245000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1603000
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1356000
CY2018Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1030000
CY2016 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
222000
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
167000
CY2018 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
296000
CY2016 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
167000
CY2017 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
106000
CY2018 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-194000
CY2016 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
17559000
CY2017 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
18005000
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
200000
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
735000
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-663000
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
819000
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
330000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1060000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
244000
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
127000
CY2017Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
359000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-71000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-659000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-372000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-29000
CY2018Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-187000
CY2016 us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
15000
CY2017 us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
17000
CY2018 us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
10000
CY2016 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
84000
CY2017 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
75000
CY2018 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
50000
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2032000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1903000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1101000
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
23000
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
24000
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
19000
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-14000
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-26000
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
24000
CY2018 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-198000
CY2016 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
572000
CY2017 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
722000
CY2018 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
901000
CY2016 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
427000
CY2017 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
443000
CY2018 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
271000
CY2016 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-1293000
CY2017 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
21837000
CY2018 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
8010000
CY2018 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-168000
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
10000
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
22000
CY2016 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1807000
CY2017 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1751000
CY2018 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1924000
CY2016 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
20469000
CY2017Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
5174000
CY2017 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
21374000
CY2017Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
5348000
CY2017Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
5457000
CY2017Q4 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
5395000
CY2018Q1 us-gaap Interest Expense
InterestExpense
794000
CY2018Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
5439000
CY2018 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
23651000
CY2018 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
966000
CY2018 us-gaap Interest Expense
InterestExpense
3635000
CY2018Q2 us-gaap Interest Expense
InterestExpense
890000
CY2018Q3 us-gaap Interest Expense
InterestExpense
950000
CY2018Q4 us-gaap Interest Expense
InterestExpense
1001000
CY2016 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
1811000
CY2018 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
20060000
CY2017Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
361757000
CY2018Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
395665000
CY2017Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
58000
CY2018Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
110000
CY2017Q4 us-gaap Interest Bearing Domestic Deposit Savings
InterestBearingDomesticDepositSavings
98966000
CY2018Q4 us-gaap Interest Bearing Domestic Deposit Savings
InterestBearingDomesticDepositSavings
99236000
CY2017Q4 us-gaap Interest Bearing Domestic Deposit Time Deposits
InterestBearingDomesticDepositTimeDeposits
131928000
CY2018Q4 us-gaap Interest Bearing Domestic Deposit Time Deposits
InterestBearingDomesticDepositTimeDeposits
140648000
CY2016 us-gaap Interest Expense
InterestExpense
2268000
CY2017Q1 us-gaap Interest Expense
InterestExpense
627000
CY2017 us-gaap Interest Expense
InterestExpense
2855000
CY2017Q2 us-gaap Interest Expense
InterestExpense
702000
CY2017Q3 us-gaap Interest Expense
InterestExpense
752000
CY2017Q4 us-gaap Interest Expense
InterestExpense
774000
CY2017 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
2129000
CY2018 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
3068000
CY2016 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
328000
CY2017 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
369000
CY2018 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
276000
CY2016 us-gaap Interest Expense Other
InterestExpenseOther
30000
CY2017 us-gaap Interest Expense Other
InterestExpenseOther
31000
CY2018 us-gaap Interest Expense Other
InterestExpenseOther
39000
CY2016 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
5000
CY2017 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
31000
CY2018 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
62000
CY2016 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
94000
CY2017 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
295000
CY2018 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
190000
CY2016 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
17735000
CY2017 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
18080000
CY2018 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
19679000
CY2016 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
18201000
CY2017Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4547000
CY2017 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
18519000
CY2017Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4646000
CY2017Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4705000
CY2017Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4621000
CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4645000
CY2018 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
20016000
CY2018Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
5054000
CY2018Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
5179000
CY2018Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
5138000
CY2016 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
2475000
CY2017 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
2888000
CY2018 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
3040000
CY2016 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
418000
CY2017 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
451000
CY2018 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
393000
CY2016 us-gaap Interest Paid Net
InterestPaidNet
2237000
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
591945000
CY2017 us-gaap Interest Paid Net
InterestPaidNet
2823000
CY2018 us-gaap Interest Paid Net
InterestPaidNet
3646000
CY2017Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
5245000
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
4545000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
5904000
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
625236000
CY2016 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
341000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
1975000
CY2017Q4 us-gaap Liabilities
Liabilities
532558000
CY2018Q4 us-gaap Liabilities
Liabilities
557858000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
1385000
CY2017Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
383904000
CY2018 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-30000
CY2018Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
417631000
CY2016Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
378297000
CY2018Q4 us-gaap Line Of Credit
LineOfCredit
26600000
CY2017Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
163181000
CY2018Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
187818000
CY2015Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
2478000
CY2016Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
2723000
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
2939000
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3034000
CY2016 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
281000
CY2017 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
300000
CY2018 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
311000
CY2017Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
380965000
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
414597000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
1217000
CY2017Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
224561000
CY2018Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
261442000
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
25000000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
15000000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
15000000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
CY2018 us-gaap Longterm Purchase Commitment Period
LongtermPurchaseCommitmentPeriod
P7Y
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5321000
CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-1215000
CY2016 us-gaap Net Income Loss
NetIncomeLoss
5156000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
1459000
CY2018 us-gaap Maturity Of Time Deposits
MaturityOfTimeDeposits
P5Y
CY2018 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-961000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
4537000
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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">1. Nature Of Operations</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">Juniata Valley Financial Corp. (&#x201C;Juniata&#x201D; or the &#x201C;Company&#x201D;) is a bank holding company operating in central Pennsylvania for the purpose of delivering financial services within its local market. Through its wholly-owned banking subsidiary, The Juniata Valley Bank (the &#x201C;Bank&#x201D;), Juniata provides retail and commercial banking and other financial services through 16 branch locations located in Juniata, Mifflin, Perry, McKean, Potter and Huntingdon Counties. Additionally, in Mifflin, Juniata and Centre Counties, the Company maintains three offices for loan production, trust services and wealth management sales. Each of the Company&#x2019;s lines of business are part of the same reporting segment, whose operating results are regularly reviewed and managed by a centralized executive management group. As a result, the Company has only </font><font style="display: inline;font-family:Times New Roman;">one</font><font style="display: inline;font-family:Times New Roman;"> reportable segment for financial reporting purposes. The Bank provides a full range of banking services, including online and mobile banking, an automatic teller machine network, checking accounts, identity protection products for consumers, savings accounts, money market accounts, fixed rate certificates of deposit, club accounts, secured and unsecured commercial and consumer loans, construction and mortgage loans, safe deposit facilities and credit loans with overdraft checking protection. The Bank also provides a variety of trust services. The Company has a contractual arrangement with a broker-dealer to allow the offering of annuities, mutual funds, stock and bond brokerage services and long-term care insurance to its local market. Most of the Company&#x2019;s commercial customers are small and mid-sized businesses operating in the Bank&#x2019;s local service area. The Bank operates under a state bank charter and is subject to regulation by the Pennsylvania Department of Banking and the Federal Deposit Insurance Corporation. Juniata is subject to regulation by the Board of Governors of the Federal Reserve Bank and the Pennsylvania Department of Banking and Securities.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
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NetCashProvidedByUsedInFinancingActivities
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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NetCashProvidedByUsedInFinancingActivities
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NetCashProvidedByUsedInInvestingActivities
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NetCashProvidedByUsedInInvestingActivities
14835000
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NoncashOrPartNoncashAcquisitionEmployeeBenefitLiabilitiesAssumed1
266000
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NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
125000
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NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
289000
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NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
267000
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17178000
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NoninterestExpense
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238000
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241000
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215000
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NoninterestIncomeOtherOperatingIncome
294000
CY2018 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
334000
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-108000
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93000
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95000
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142000
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147000
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109000
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676000
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-44000
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-3000
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OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
348000
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-11000
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OtherComprehensiveIncomeLossBeforeTax
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CY2018 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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OtherComprehensiveIncomeLossNetOfTax
-1006000
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OtherComprehensiveIncomeLossNetOfTax
-237000
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-109000
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-9000
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1024000
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-55000
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
218000
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
512000
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
-188000
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
144000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
338000
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-149000
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
74000
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1851000
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-1216000
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-802000
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-210000
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OtherComprehensiveIncomeLossTax
-123000
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-255000
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200000
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OtherPostretirementBenefitExpense
38000
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4269000
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OtherExpenses
4229000
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OtherExpenses
4442000
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OtherExpenses
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OtherExpenses
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OtherExpenses
4530000
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OtherExpenses
4847000
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OtherExpenses
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OtherIncome
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OtherIncome
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OtherIncome
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OtherIncome
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OtherIncome
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OtherIncome
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OtherIncome
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OtherIncome
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225000
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1892000
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OtherPostretirementBenefitExpense
61000
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OtherPostretirementBenefitExpense
95000
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350000
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111000
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185000
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103000
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25000
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22000
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1007000
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352000
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172000
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539000
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571000
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640000
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1256000
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466000
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158000
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337000
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21.10
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142524
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437000
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1215000
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RepaymentsOfLongTermDebt
7500000
CY2018 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10000000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
40876000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
42525000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
139155
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
22.36
CY2017 us-gaap Taxes Other
TaxesOther
463000
CY2018 us-gaap Taxes Other
TaxesOther
498000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
125026
CY2017Q4 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
0
CY2018Q4 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
0
CY2017Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
9769000
CY2018Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
2911000
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
387318
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
110911
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
10807.00
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
15240
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
3369
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
4425
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
6100
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
113756
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.07
CY2017Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.0943
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.97
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.91
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.76
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
97584
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
110282
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
110911
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
17.74
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
17.47
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
32196000
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
21769000
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
14511000
CY2016 us-gaap Shortterm Debt Maximum Monthend Outstanding Amount
ShorttermDebtMaximumMonthendOutstandingAmount
38318000
CY2017 us-gaap Shortterm Debt Maximum Monthend Outstanding Amount
ShorttermDebtMaximumMonthendOutstandingAmount
40490000
CY2018 us-gaap Shortterm Debt Maximum Monthend Outstanding Amount
ShorttermDebtMaximumMonthendOutstandingAmount
33858000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
59962000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
59090000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
59387000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
67378000
CY2016 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
3764
CY2017 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
1961
CY2018 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
2134
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
9704
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5170
CY2017 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
34000
CY2018 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
42000
CY2016 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
64000
CY2018 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
6463000
CY2017 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
172000
CY2018 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
90000
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
803000
CY2016 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
67000
CY2017 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
71000
CY2018 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
82000
CY2018Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
170574
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
927000
CY2017Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
55808000
CY2018Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.1001
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
86000
CY2017Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
23666000
CY2018Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
60849000
CY2018Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
24318000
CY2017Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.0400
CY2017Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
55808000
CY2018Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
60849000
CY2017Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
23857000
CY2018Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
24160000
CY2017Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0600
CY2018Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0600
CY2017Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1404
CY2018Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1511
CY2016 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
313000
CY2017 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
716000
CY2018 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
681000
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
43955
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
42201
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
831000
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
70000
CY2017Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
52000
CY2018Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
11000
CY2018 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-1000
CY2016 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
CY2017 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
CY2018 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;font-weight:bold;">Use of estimates</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Helvetica;font-size: 10pt"> <font style="display: inline;font-family:Times New Roman;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the determination of other-than-temporary impairment on securities, impairment of goodwill and the value of assets acquired and liabilities assumed in business combinations. </font> </p> <p><font size="1"> </font></p> </div> </div>
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4802175
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4775505
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5009484
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4801245
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4765165
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4987186

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