2015 Q4 Form 10-K Financial Statement

#000103877317000003 Filed on March 31, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 2014 Q4
Revenue
YoY Change
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 -$210.0K $992.7K -$150.0K
YoY Change 40.0% 25.92% -171.43%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $2.757M $650.2K
YoY Change 35.38% -15.81%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.080M $3.150M $664.4K
YoY Change 213.08% 6.79% 1.62%
Income Tax $900.0K $1.641M $253.4K
% Of Pretax Income 43.27% 52.09% 38.14%
Net Earnings $1.180M $1.510M $411.0K
YoY Change 187.13% -17.62% 1.7%
Net Earnings / Revenue
Basic Earnings Per Share $0.35 $0.01
Diluted Earnings Per Share $195.7K $0.32 $0.01
COMMON SHARES
Basic Shares Outstanding 5.735M shares 3.985M shares 6.627M shares
Diluted Shares Outstanding 4.282M shares

Balance Sheet

Concept 2015 Q4 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $246.4M $145.6M
YoY Change 69.2% -15.18%
Cash & Equivalents $79.96M $46.74M
Short-Term Investments $166.4M $98.88M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $25.04M $25.00M $15.94M
YoY Change 57.08% 57.23% 219.26%
Goodwill $4.166M $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.024B $1.024B $533.8M
YoY Change 91.82% 91.83% 23.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $28.10M $28.10M $9.800M
YoY Change 186.73% 186.73% -57.39%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $28.10M $28.10M $9.800M
YoY Change 186.73% 186.73% 9700.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.000M $3.000M $1.300M
YoY Change 130.77% 130.77% 44.44%
Total Long-Term Liabilities $3.000M $3.000M $1.300M
YoY Change 130.77% 130.77% 44.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.10M $28.10M $9.800M
Total Long-Term Liabilities $3.000M $3.000M $1.300M
Total Liabilities $923.8M $923.8M $477.9M
YoY Change 93.3% 93.3% 21.89%
SHAREHOLDERS EQUITY
Retained Earnings $12.09M $10.70M
YoY Change 12.98% -445.38%
Common Stock $5.806M $2.966M
YoY Change 95.78% -54.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $100.2M $100.2M $55.89M
YoY Change
Total Liabilities & Shareholders Equity $1.024B $1.024B $533.7M
YoY Change 91.86% 91.83% 23.48%

Cashflow Statement

Concept 2015 Q4 2015 2014 Q4
OPERATING ACTIVITIES
Net Income $1.180M $1.510M $411.0K
YoY Change 187.13% -17.62% 1.7%
Depreciation, Depletion And Amortization -$210.0K $992.7K -$150.0K
YoY Change 40.0% 25.92% -171.43%
Cash From Operating Activities $140.0K $2.340M $3.460M
YoY Change -95.95% -33.9% 110.98%
INVESTING ACTIVITIES
Capital Expenditures -$310.0K $1.082M $2.300M
YoY Change -113.48% -62.07% 22900.0%
Acquisitions
YoY Change
Other Investing Activities -$26.95M -$6.860M $55.60M
YoY Change -148.47% -219.51% -7137.97%
Cash From Investing Activities -$27.25M -$7.940M $57.90M
YoY Change -147.06% -244.1% -7429.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.043M
YoY Change 11564.1%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.14M 38.82M -42.74M
YoY Change -140.1% -311.32% -1654.18%
NET CHANGE
Cash From Operating Activities 140.0K 2.340M 3.460M
Cash From Investing Activities -27.25M -7.940M 57.90M
Cash From Financing Activities 17.14M 38.82M -42.74M
Net Change In Cash -9.970M 33.22M 18.62M
YoY Change -153.54% -456.44% 417.22%
FREE CASH FLOW
Cash From Operating Activities $140.0K $2.340M $3.460M
Capital Expenditures -$310.0K $1.082M $2.300M
Free Cash Flow $450.0K $1.258M $1.160M
YoY Change -61.21% 82.88% -28.83%

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CY2016Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.08
CY2016Q4 us-gaap Available For Sale Securities Pledged As Collateral
AvailableForSaleSecuritiesPledgedAsCollateral
86351000 USD
CY2015 us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
52255 USD
CY2016 us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
199587 USD
CY2015Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
16933000 USD
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
11943000 USD
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
24269000 USD
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
42307000 USD
CY2016Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
18507000 USD
CY2014 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
67000 USD
CY2014 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
19600000 USD
CY2015Q3 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
28435000 USD
CY2015Q3 us-gaap Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
2858000 USD
CY2015 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
1600000 USD
CY2015 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
7000000 USD
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
33502000 USD
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Marketable Securities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities
74254000 USD
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
4301000 USD
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
314827000 USD
CY2016Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.08
CY2016Q4 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.1
CY2015 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
33501510 USD
CY2016 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46736414 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
79964633 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68748308 USD
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
33228219 USD
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-11216325 USD
CY2015Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
40358647 USD
CY2016Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
34290617 USD
CY2014Q4 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield
7983000 USD
CY2015Q4 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield
10217000 USD
CY2016Q4 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield
8950000 USD
CY2015 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion
1805000 USD
CY2016 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion
2588000 USD
CY2015 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Additions
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions
4282000 USD
CY2016 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Additions
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions
0 USD
CY2015 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Period Increase Decrease
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldPeriodIncreaseDecrease
-394000 USD
CY2016 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Period Increase Decrease
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldPeriodIncreaseDecrease
-264000 USD
CY2015 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldReclassificationsFromNonaccretableDifference
151000 USD
CY2016 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldReclassificationsFromNonaccretableDifference
1585000 USD
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5806477 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5896033 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5806477 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5896033 shares
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
5806477 USD
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
5896033 USD
CY2015 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1460792 USD
CY2016 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5148689 USD
CY2015Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
188000 USD
CY2016Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
2789000 USD
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
77000 USD
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2503000 USD
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
167000 USD
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
531000 USD
CY2016 us-gaap Deferred Compensation Arrangements Overall Description
DeferredCompensationArrangementsOverallDescription
After one year of service the Company matches 100 percent of employee contributions up to 3 percent of compensation and 50 percent of employee contributions on the next 2 percent of compensation.
CY2015 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
469000 USD
CY2016 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
356000 USD
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7752000 USD
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7191000 USD
CY2015Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
4247000 USD
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3703000 USD
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
339000 USD
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
0 USD
CY2015Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
618000 USD
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
561000 USD
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
253000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
415000 USD
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
1667000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
1932000 USD
CY2015 us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
27738 USD
CY2016 us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
660567 USD
CY2015Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
3505000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
3488000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1063000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
946000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
743000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
639000 USD
CY2015Q4 us-gaap Demand Deposit Accounts
DemandDepositAccounts
149423954 USD
CY2016Q4 us-gaap Demand Deposit Accounts
DemandDepositAccounts
162702457 USD
CY2015Q4 us-gaap Deposit Liabilities Reclassified As Loans Receivable1
DepositLiabilitiesReclassifiedAsLoansReceivable1
81859 USD
CY2016Q4 us-gaap Deposit Liabilities Reclassified As Loans Receivable1
DepositLiabilitiesReclassifiedAsLoansReceivable1
76380 USD
CY2015Q4 us-gaap Deposits
Deposits
858482551 USD
CY2016Q4 us-gaap Deposits
Deposits
907065171 USD
CY2015Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
236900945 USD
CY2016Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
274604724 USD
CY2015 us-gaap Depreciation
Depreciation
992746 USD
CY2016 us-gaap Depreciation
Depreciation
1435090 USD
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1085685 USD
CY2016 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2189088 USD
CY2016 us-gaap Description Of Regulatory Requirements Capital Adequacy Purposes
DescriptionOfRegulatoryRequirementsCapitalAdequacyPurposes
Cumulative preferred stock and trust preferred securities issued after May 19, 2010 will no longer qualify as Tier 1 capital, but such securities issued prior to May 19, 2010, including in the case of bank holding companies with less than $15 billion in total assets at that date, trust preferred securities issued prior to that date, will continue to count as Tier 1 capital subject to certain limitations. Tier 2 capital consists of the allowance for loan and lease losses in an amount not exceeding 1.25 percent of standardized risk-weighted assets, plus qualifying preferred stock, qualifying subordinated debt and qualifying total capital minority interest, net of Tier 2 investments in financial institutions.
CY2016 us-gaap Dividends
Dividends
3000000 USD
CY2016Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
6600000 USD
CY2015 us-gaap Dividends Preferred Stock
DividendsPreferredStock
120000 USD
CY2016 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1022000 USD
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.82
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2015Q3 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.56
CY2015 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
487686 USD
CY2016 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
605917 USD
CY2016Q4 us-gaap Federal Funds Purchased
FederalFundsPurchased
13499625 USD
CY2015Q4 us-gaap Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
FederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase
28068215 USD
CY2016Q4 us-gaap Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
FederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase
26621984 USD
CY2015Q4 us-gaap Federal Funds Sold
FederalFundsSold
6200000 USD
CY2016Q4 us-gaap Federal Funds Sold
FederalFundsSold
0 USD
CY2016Q4 us-gaap Federal Home Loan Bank Advances Maturities Summary In Next Rolling Twelve Months
FederalHomeLoanBankAdvancesMaturitiesSummaryInNextRollingTwelveMonths
18500000 USD
CY2015Q4 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
187462 USD
CY2016Q4 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
5765 USD
CY2015 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
912806 USD
CY2016 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
1127814 USD
CY2015 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0 contract
CY2016 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0 contract
CY2015Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
685276000 USD
CY2016Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
782015000 USD
CY2015Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
2252000 USD
CY2016Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
1415000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
600000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
280000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1420000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
210000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
210000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
210000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
210000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
210000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3375000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2750000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2470000 USD
CY2015Q4 us-gaap Foreclosed Assets
ForeclosedAssets
5358000 USD
CY2016Q4 us-gaap Foreclosed Assets
ForeclosedAssets
2386239 USD
CY2016Q4 us-gaap Foreclosed Assets
ForeclosedAssets
2386000 USD
CY2015 us-gaap Foreclosed Real Estate Expense
ForeclosedRealEstateExpense
289624 USD
CY2016 us-gaap Foreclosed Real Estate Expense
ForeclosedRealEstateExpense
236148 USD
CY2015Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
5701000 USD
CY2016Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
7043000 USD
CY2015 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
52255 USD
CY2016 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
199587 USD
CY2015 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
266487 USD
CY2016 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
191050 USD
CY2015Q3 us-gaap Goodwill
Goodwill
4166069 USD
CY2015Q3 us-gaap Goodwill
Goodwill
4166000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3150456 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9160888 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1640744 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1641000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3362000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3362080 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1071000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3115000 USD
CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
295000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
0 USD
CY2015 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
99000 USD
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-146000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
176000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
393000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
1977958 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
3754784 USD
CY2015 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-101189 USD
CY2016 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-110952 USD
CY2015 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
54213883 USD
CY2016 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
48582620 USD
CY2015 us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
IncreaseDecreaseInFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchaseNet
687811 USD
CY2016 us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
IncreaseDecreaseInFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchaseNet
-1446231 USD
CY2015 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-11218 USD
CY2016 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-8373 USD
CY2015 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
1200552 USD
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3918803 USD
CY2015 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1196484 USD
CY2016 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
1893386 USD
CY2015 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
1861269 USD
CY2016 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
2553652 USD
CY2015 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
25730909 USD
CY2016 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
39763582 USD
CY2015Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
33405986 USD
CY2016Q4 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
34457691 USD
CY2015 us-gaap Interest Expense
InterestExpense
2757142 USD
CY2016 us-gaap Interest Expense
InterestExpense
4299682 USD
CY2015 us-gaap Interest Expense Deposits
InterestExpenseDeposits
2625674 USD
CY2016 us-gaap Interest Expense Deposits
InterestExpenseDeposits
4105304 USD
CY2015 us-gaap Interest Expense Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
InterestExpenseFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase
30382 USD
CY2016 us-gaap Interest Expense Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
InterestExpenseFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase
65276 USD
CY2015 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
24073136 USD
CY2016 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
37477164 USD
CY2015 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
24996091 USD
CY2016 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
38264709 USD
CY2015 us-gaap Interest Income Operating
InterestIncomeOperating
27753233 USD
CY2016 us-gaap Interest Income Operating
InterestIncomeOperating
42564391 USD
CY2015 us-gaap Interest Paid
InterestPaid
2610476 USD
CY2016 us-gaap Interest Paid
InterestPaid
4308055 USD
CY2015Q4 us-gaap Investment Owned Restricted Cost
InvestmentOwnedRestrictedCost
4451050 USD
CY2016Q4 us-gaap Investment Owned Restricted Cost
InvestmentOwnedRestrictedCost
5627950 USD
CY2015 us-gaap Labor And Related Expense
LaborAndRelatedExpense
11831234 USD
CY2016 us-gaap Labor And Related Expense
LaborAndRelatedExpense
17715222 USD
CY2015Q4 us-gaap Land
Land
7012000 USD
CY2016Q4 us-gaap Land
Land
8354000 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
565667 USD
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
728004 USD
CY2015Q4 us-gaap Liabilities
Liabilities
923786020 USD
CY2016Q4 us-gaap Liabilities
Liabilities
957216145 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1023962879 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1062456285 USD
CY2015Q4 us-gaap Line Of Credit
LineOfCredit
2000000 USD
CY2016Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2015Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
LineOfCreditFacilityInterestRateAtPeriodEnd
0.035
CY2016Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
2247000 USD
CY2014Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3880000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
4354000 USD
CY2016Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
5105000 USD
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CY2016Q4 us-gaap Loans And Leases Receivable Net Reported Amount
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CY2016Q4 us-gaap Loans And Leases Receivable Net Reported Amount
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CY2016 us-gaap Loans And Leases Receivable Related Parties Additions
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CY2016 us-gaap Loans And Leases Receivable Related Parties Collections
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CY2016 us-gaap Long Term Debt Description
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Pursuant to the Loan Agreement, the Bank may not permit non-performing assets to be greater than 3.25% of total assets. The Bank must not permit its Texas ratio (nonperforming assets divided by the sum of tangible equity plus the allowance for loan and lease losses) to be greater than 35.00%, and must not permit its liquidity ratio to be less than 9.00% (or less than 10.00% for two consecutive quarters).
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CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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76422 USD
CY2015 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2015Q4 us-gaap Other Intangible Assets Net
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CY2016Q4 us-gaap Other Liabilities
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CY2015 us-gaap Other Noninterest Expense
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CY2016 us-gaap Other Noninterest Expense
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3855246 USD
CY2015 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
150000 USD
CY2016 us-gaap Other Tax Expense Benefit
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115000 USD
CY2015 us-gaap Payments For Proceeds From Loans Receivable
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CY2015 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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120000 USD
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CY2015 us-gaap Payments To Acquire Available For Sale Securities
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CY2015 us-gaap Payments To Acquire Restricted Investments
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CY2015 us-gaap Preferred Stock Dividend Rate Percentage
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0.01
CY2016 us-gaap Preferred Stock Dividend Rate Percentage
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CY2015 us-gaap Preferred Stock Dividends Income Statement Impact
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120000 USD
CY2015 us-gaap Preferred Stock Dividends Income Statement Impact
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120000 USD
CY2016 us-gaap Preferred Stock Dividends Income Statement Impact
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1022000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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1
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1
CY2015Q4 us-gaap Preferred Stock Shares Authorized
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CY2016Q4 us-gaap Preferred Stock Shares Authorized
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CY2015Q4 us-gaap Preferred Stock Shares Issued
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CY2016Q4 us-gaap Preferred Stock Shares Issued
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CY2015Q4 us-gaap Preferred Stock Shares Outstanding
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CY2016Q4 us-gaap Preferred Stock Shares Outstanding
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CY2015Q4 us-gaap Preferred Stock Value
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12000 USD
CY2016Q4 us-gaap Preferred Stock Value
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CY2015 us-gaap Proceeds From Income Tax Refunds
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CY2016 us-gaap Proceeds From Income Tax Refunds
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CY2015 us-gaap Proceeds From Issuance Of Common Stock
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CY2016 us-gaap Proceeds From Issuance Of Common Stock
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803957 USD
CY2015 us-gaap Proceeds From Payments For Other Financing Activities
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CY2016 us-gaap Proceeds From Payments For Other Financing Activities
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CY2015 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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CY2016 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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CY2015 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2016 us-gaap Proceeds From Sale Of Available For Sale Securities
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31599000 USD
CY2016 us-gaap Proceeds From Stock Options Exercised
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803957 USD
CY2015 us-gaap Professional And Contract Services Expense
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750957 USD
CY2016 us-gaap Professional And Contract Services Expense
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1154003 USD
CY2015 us-gaap Professional Fees
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2454339 USD
CY2016 us-gaap Professional Fees
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2122845 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
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CY2016Q4 us-gaap Property Plant And Equipment Gross
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36693000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
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25038000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
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25037510 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
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30536000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
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30535594 USD
CY2015 us-gaap Provision For Loan And Lease Losses
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922955 USD
CY2015 us-gaap Provision For Loan And Lease Losses
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923000 USD
CY2016 us-gaap Provision For Loan And Lease Losses
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787545 USD
CY2016 us-gaap Provision For Loan And Lease Losses
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788000 USD
CY2015 us-gaap Real Estate Acquisitions Through Foreclosures
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864669 USD
CY2016 us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
1431857 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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12094488 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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16871296 USD
CY2015Q4 us-gaap Securities Sold Under Agreements To Repurchase
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CY2016Q4 us-gaap Securities Sold Under Agreements To Repurchase
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CY2015 us-gaap Share Based Compensation
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CY2016 us-gaap Share Based Compensation
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CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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660476 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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5905718 USD
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
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CY2016Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
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CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
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CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
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CY2016Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
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10.25
CY2015 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
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CY2015 us-gaap Stock Issued During Period Value Acquisitions
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CY2015 us-gaap Stock Issued During Period Value Conversion Of Units
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CY2015 us-gaap Stock Issued During Period Value New Issues
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CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised Net Of Tax Benefit Expense
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CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised Net Of Tax Benefit Expense
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803957 USD
CY2014Q4 us-gaap Stockholders Equity
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CY2015Q4 us-gaap Stockholders Equity
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100176859 USD
CY2016Q4 us-gaap Stockholders Equity
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CY2016Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
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0.04
CY2016Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
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0.05
CY2016Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.06
CY2016Q4 us-gaap Time Deposit Maturities After Year Five
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120000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year Five
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6817000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year Four
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14713000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year One
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193389000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year Three
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18403000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year Two
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82529000 USD
CY2015Q4 us-gaap Time Deposits
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340739072 USD
CY2016Q4 us-gaap Time Deposits
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316275340 USD
CY2016Q4 us-gaap Time Deposits Noncurrent
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315971000 USD
CY2016Q4 us-gaap Unused Commitments To Extend Credit
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145300000 USD
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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296307 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3985202 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5838574 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
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5838574 shares
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Basis of Presentation and Accounting Estimates:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany balances and transactions have been eliminated in consolidation.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of foreclosed assets and deferred taxes, other than temporary impairments of securities, and the fair value of financial instruments.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans, management obtains independent appraisals for significant collateral.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Company has a diversified loan portfolio, a substantial portion of its debtors' ability to honor their contracts is dependent on local economic conditions.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has evaluated subsequent events for potential recognition and/or disclosure in the consolidated financial statements and accompanying notes included in this Annual Report.</font></div></div>

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