$JUVF
Juniata Valley Financial Corp

2019 Q1 Form 10-Q Financial Statement

#000114420419025131 Filed on May 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q1
Revenue $6.218M $6.139M $5.439M
YoY Change 14.32% 13.79% 5.12%
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 $220.0K $250.0K $210.0K
YoY Change 4.76% 25.0% 16.67%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.059M $1.001M $794.0K
YoY Change 33.38% 29.33% 26.63%
% of Operating Profit
Other Income/Expense, Net $4.859M $4.341M
YoY Change 0.77% 1.69%
Pretax Income $1.403M $1.030M $1.256M
YoY Change 11.7% 9.93% -29.79%
Income Tax -$10.00K -$187.0K -$71.00K
% Of Pretax Income -0.71% -18.16% -5.65%
Net Earnings $1.413M $1.217M $1.327M
YoY Change 6.48% 110.55% -9.05%
Net Earnings / Revenue 22.72% 19.82% 24.4%
Basic Earnings Per Share $0.28 $0.24 $0.28
Diluted Earnings Per Share $0.28 $0.24 $0.28
COMMON SHARES
Basic Shares Outstanding 5.095M 5.094M 4.770M
Diluted Shares Outstanding 5.117M 4.788M

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $24.28M $16.46M $12.15M
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 $8.644M $8.744M $8.700M
YoY Change -0.64% -1.61% 24.29%
Goodwill $9.047M $9.139M
YoY Change 67.75%
Intangibles
YoY Change
Long-Term Investments $0.00 $4.800M
YoY Change -100.0% 2.13%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $627.8M $625.2M $595.0M
YoY Change 5.51% 5.62% 0.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.000M $5.000M $6.100M
YoY Change -18.03% -23.08% -4.69%
Accrued Expenses $500.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $4.300M $14.51M $5.800M
YoY Change -25.86% -33.34% 11.54%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.500M $5.000M $6.100M
YoY Change -9.84% -23.08% -4.69%
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 $5.500M $5.000M $6.100M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $558.6M $557.9M $537.0M
YoY Change 4.02% 4.75% 0.81%
SHAREHOLDERS EQUITY
Retained Earnings $42.82M $42.53M
YoY Change 4.03%
Common Stock $5.142M $5.134M
YoY Change 6.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $803.0K $803.0K
YoY Change -3.37%
Treasury Stock Shares $43.00K $42.20K
Shareholders Equity $69.17M $67.38M $58.00M
YoY Change
Total Liabilities & Shareholders Equity $627.8M $625.2M $595.0M
YoY Change 5.51% 5.62% 0.49%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q1
OPERATING ACTIVITIES
Net Income $1.413M $1.217M $1.327M
YoY Change 6.48% 110.55% -9.05%
Depreciation, Depletion And Amortization $220.0K $250.0K $210.0K
YoY Change 4.76% 25.0% 16.67%
Cash From Operating Activities $2.371M $2.000M $727.0K
YoY Change 226.13% -42.69% -40.89%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$300.0K -$40.00K
YoY Change 150.0% -87.39% -84.0%
Acquisitions
YoY Change
Other Investing Activities $6.360M -$1.520M -$2.300M
YoY Change -376.52% -145.65% -81.53%
Cash From Investing Activities $6.263M -$1.810M -$2.344M
YoY Change -367.19% -288.54% -81.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $40.00K
YoY Change
Debt Paid & Issued, Net $5.000M
YoY Change
Cash From Financing Activities -813.0K 940.0K 3.872M
YoY Change -121.0% -111.9% -63.81%
NET CHANGE
Cash From Operating Activities 2.371M 2.000M 727.0K
Cash From Investing Activities 6.263M -1.810M -2.344M
Cash From Financing Activities -813.0K 940.0K 3.872M
Net Change In Cash 7.821M 1.130M 2.255M
YoY Change 246.83% -132.75% -392.86%
FREE CASH FLOW
Cash From Operating Activities $2.371M $2.000M $727.0K
Capital Expenditures -$100.0K -$300.0K -$40.00K
Free Cash Flow $2.471M $2.300M $767.0K
YoY Change 222.16% -60.82% -48.18%

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DescriptionOfNewAccountingPronouncementsNotYetAdopted
<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;">2. RECENT ACCOUNTING STANDARDS UPDATES (&#x201C;ASU&#x201D;)</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;text-decoration:underline;">Adoption of New 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;">&#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 the 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 was effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The effective date of the amendments in ASU 2018-10 and ASU 2018-11 were the same as the effective date for ASU 2016-02. </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 </font><font style="display: inline;font-family:Times New Roman;color:#000000;">practical expedients</font><font style="display: inline;font-family:Times New Roman;color:#000000;">: the package of practical expedients, combining lease and nonlease components by class of underlying asset, and using </font><font style="display: inline;font-family:Times New Roman;color:#000000;">hindsight</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> 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 and </font><font style="display: inline;font-family:Times New Roman;color:#000000;">lease</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> liability of </font><font style="display: inline;font-family:Times New Roman;color:#000000;">$556,000</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> as of January 1, 2019 for the Company&#x2019;s </font><font style="display: inline;font-family:Times New Roman;color:#000000;">four</font><font style="display: inline;font-family:Times New Roman;color:#000000;"> operating lease obligations. The adoption of this standard did not have a material impact on the Company&#x2019;s operations, cash flows or capital ratios, nor has it caused the Company to no longer be well capitalized. See Note 14 for more 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;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;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;text-decoration:underline;color:#000000;">Newly Issued, Not Yet Effective 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;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 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 the third quarter of 2019. See Note 11 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;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;font-style:italic;"></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 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;">Issued: </font><font style="display: inline;font-family:Times New Roman;">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;">Summary: </font><font style="display: inline;font-family:Times New Roman;">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;">Effective Date: </font><font style="display: inline;font-family:Times New Roman;">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;">&#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 2016-13, 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;">&#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;">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;">&#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;">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;">&#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 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;">&#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;">Further, the ASU made certain targeted amendments to the existing impairment model for available for sale debt securities. For an available for sale 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;">&#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;</font><font style="display: inline;font-family:Times New Roman;">The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years.&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 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;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2018Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1049000
CY2019Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1120000
CY2018Q1 us-gaap Earnings Per Share Basic
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0.28
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2018Q1 us-gaap Equipment Expense
EquipmentExpense
207000
CY2019Q1 us-gaap Equipment Expense
EquipmentExpense
214000
CY2018Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
25000
CY2019Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
0
CY2018Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
1118000
CY2019Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
1127000
CY2018Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2019Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2018Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
70000
CY2019Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
56000
CY2018Q4 us-gaap Federal Funds Sold
FederalFundsSold
729000
CY2019Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
878000
CY2019Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
1791000
CY2018Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
3303000
CY2019Q1 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
2551000
CY2018 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
547000
CY2019Q1 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
829000
CY2018Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
445000
CY2019Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
766000
CY2018Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
336000
CY2019Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
6000
CY2018Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
414328000
CY2019Q1 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
412428000
CY2018Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
1707000
CY2018Q4 us-gaap Finite Lived Core Deposits Gross
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CY2019Q1 us-gaap Federal Funds Sold
FederalFundsSold
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CY2018Q4 us-gaap Federal Home Loan Bank Stock
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2441000
CY2019Q1 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
2535000
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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3035000
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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3034000
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
2994000
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
73000
CY2018 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
285000
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
73000
CY2018Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
385681000
CY2018Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
413983000
CY2019Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
410967000
CY2018Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
3000000
CY2018Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
2133000
CY2019Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
2537000
CY2018 us-gaap Financing Receivable Modifications Number Of Contracts2
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9
CY2019Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
10
CY2018 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
575000
CY2019Q1 us-gaap Finite Lived Core Deposits Gross
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383000
CY2018Q1 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-15000
CY2019Q1 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
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CY2018Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
19000
CY2019Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
17000
CY2018Q4 us-gaap Goodwill
Goodwill
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CY2019Q1 us-gaap Goodwill
Goodwill
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CY2018Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2019Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2018Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
5880000
CY2019Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
3833000
CY2018Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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5000
CY2019Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
8000
CY2018Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
1000
CY2019Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
12000
CY2018Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
3648000
CY2019Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
4012000
CY2018Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
6008000
CY2019Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
5231000
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1256000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1403000
CY2018Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
69000
CY2018Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
44000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2018Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
10455000
CY2019Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
2135000
CY2017Q4 us-gaap Increase Decrease In Pension Plan Obligations
IncreaseDecreaseInPensionPlanObligations
377000
CY2019Q1 us-gaap Increase Decrease In Pension Plan Obligations
IncreaseDecreaseInPensionPlanObligations
210000
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
17000
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
22000
CY2018Q1 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
416000
CY2019Q1 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
461000
CY2018Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
5439000
CY2019Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
6218000
CY2018Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
4551000
CY2019Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
5255000
CY2018Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
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CY2019Q1 us-gaap Interest Bearing Deposit Liabilities Domestic
InterestBearingDepositLiabilitiesDomestic
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CY2018Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
110000
CY2019Q1 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
5539000
CY2018Q1 us-gaap Interest Expense
InterestExpense
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CY2019Q1 us-gaap Interest Expense
InterestExpense
1059000
CY2018Q1 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
594000
CY2019Q1 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
863000
CY2018Q1 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
93000
CY2019Q1 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
161000
CY2018Q1 us-gaap Interest Expense Other
InterestExpenseOther
8000
CY2019Q1 us-gaap Interest Expense Other
InterestExpenseOther
11000
CY2018Q1 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
15000
CY2019Q1 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
11000
CY2018Q1 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
84000
CY2019Q1 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
13000
CY2018Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
4487000
CY2019Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
5144000
CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4645000
CY2019Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
5159000
CY2018Q1 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
775000
CY2019Q1 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
849000
CY2018Q1 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
103000
CY2019Q1 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
61000
CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
792000
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
933000
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
4545000
CY2019Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
4435000
CY2019Q1 us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
CY2019Q1 us-gaap Lease Practical Expedient Use Of Hindsight
LeasePracticalExpedientUseOfHindsight
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CY2019Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
660000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
233000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
120000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
47000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
47000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
97000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
116000
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
125000
CY2018Q4 us-gaap Liabilities
Liabilities
557858000
CY2019Q1 us-gaap Liabilities
Liabilities
558609000
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
625236000
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
627782000
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
2939000
CY2018Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3035000
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3034000
CY2019Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
2994000
CY2018Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
389180000
CY2018Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
417631000
CY2019Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
414979000
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
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414597000
CY2019Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
411985000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
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CY2019Q1 us-gaap Long Term Debt
LongTermDebt
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CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6263000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
727000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2371000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
1327000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
1413000
CY2018Q4 us-gaap Noninterest Bearing Deposit Liabilities Domestic
NoninterestBearingDepositLiabilitiesDomestic
126057000
CY2019Q1 us-gaap Noninterest Bearing Deposit Liabilities Domestic
NoninterestBearingDepositLiabilitiesDomestic
128670000
CY2018Q1 us-gaap Noninterest Expense
NoninterestExpense
4405000
CY2019Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
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CY2018Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
23000
CY2019Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
24000
CY2018Q1 us-gaap Professional Fees
ProfessionalFees
177000
CY2019Q1 us-gaap Professional Fees
ProfessionalFees
197000
CY2019Q1 us-gaap Noninterest Expense
NoninterestExpense
4835000
CY2018Q1 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
54000
CY2019Q1 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
51000
CY2018Q1 us-gaap Noninterest Income
NoninterestIncome
1174000
CY2019Q1 us-gaap Noninterest Income
NoninterestIncome
1094000
CY2018Q1 us-gaap Noninterest Income Other Operating Income
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75000
CY2019Q1 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
85000
CY2018Q1 us-gaap Occupancy Net
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318000
CY2019Q1 us-gaap Occupancy Net
OccupancyNet
349000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
535000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
30000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
534000
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0545
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
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CY2019Q1 us-gaap Proceeds From Payments For In Interest Bearing Deposits In Banks
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490000
CY2018Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2018Q1 us-gaap Other Comprehensive Income Loss Before Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Before Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
395000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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1793000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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1416000
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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377000
CY2018Q4 us-gaap Other Intangible Assets Net
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CY2019Q1 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
193000
CY2018Q1 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
10000
CY2019Q1 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
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CY2018Q1 us-gaap Other Noninterest Expense
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CY2019Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
442000
CY2018Q4 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
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CY2018Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
3290000
CY2019Q1 us-gaap Other Short Term Investments
OtherShortTermInvestments
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CY2018Q1 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
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CY2019Q1 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
94000
CY2018Q1 us-gaap Payments For Proceeds From Other Loans And Leases
PaymentsForProceedsFromOtherLoansAndLeases
5342000
CY2019Q1 us-gaap Payments For Proceeds From Other Loans And Leases
PaymentsForProceedsFromOtherLoansAndLeases
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CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1049000
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1120000
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
4119000
CY2019Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
11214000
CY2018Q1 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
6000
CY2019Q1 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
6000
CY2018Q1 us-gaap Payments To Acquire Limited Partnership Interests
PaymentsToAcquireLimitedPartnershipInterests
100000
CY2019Q1 us-gaap Payments To Acquire Limited Partnership Interests
PaymentsToAcquireLimitedPartnershipInterests
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CY2018Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
41000
CY2019Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
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96000
CY2018Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
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CY2019Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
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CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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15000000
CY2018Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
35000
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2779000
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
3512000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8744000
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8644000
CY2018Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
158000
CY2018 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
337000
CY2019Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
15000
CY2018Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
744000
CY2019Q1 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
744000
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
42525000
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
42818000
CY2018Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
2911000
CY2019Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
2683000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
59387000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
57999000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
67378000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
69173000
CY2018Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
35000
CY2018Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
18000
CY2019Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
19000
CY2018Q1 us-gaap Taxes Other
TaxesOther
113000
CY2019Q1 us-gaap Taxes Other
TaxesOther
134000
CY2018Q1 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
22000
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
42201
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
43001
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
803000
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
803000
CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
40000
CY2018Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-6000
CY2019Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
9000
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4787769
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5117024
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4770389
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5095132
CY2019Q1 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
us-gaap:OtherLiabilities

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