pbib20170331

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note

– Securities

Securities are classified into available-for-sale (AFS) and held-to-maturity (HTM)

categories. AFS securities are those that

may

be sold if needed for liquidity, asset liability management, or other reasons. AFS securities are reported at fair value, with unrealized gains or losses included as a separate component of equity, net of tax. HTM securities are those that we have the intent and ability to hold to maturity and are reported at amortized cost.

The

amortized cost and fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(i n thousands)
March 31, 201 7
Available for sale
U.S. Government and federal agency	$	33,434	$	94	$	(489	)	$	33,039
Agency mortgage-backed: residential		99,251		701		(1,035	)		98,917
Collateralized loan obligations		18,868		13		—			18,881
State and municipal		2,028		19		(2	)		2,045
Corporate bonds		3,072		47		—			3,119
Tota l available for sale	$	156,653	$	874	$	(1,526	)	$	156,001

	Amortized Cost		Gross Unre cognized Gains		Gross Unre cognized Losses			Fair Value
Held to maturity
State and municipal	$	41,752	$	1,719	$	(2	)	$	43,469
Total held to maturity	$	41,752	$	1,719	$	(2	)	$	43,469

December 31, 201 6	Amortized Cost		Gross Unre alized Gains		Gross Unre alized Losses			Fair Value
Available for sale
U.S. Government and federal agency	$	34,757	$	50	$	(708	)	$	34,099
Agency mortgage-backed: residential		103,390		455		(1,492	)		102,353
Collateralized loan obligations		11,203		—		—			11,203
State and municipal		2,028		25		(8	)		2,045
Corporate bonds		3,069		24		(3	)		3,090
Total available for sale	$	154,447	$	554	$	(2,211	)	$	152,790

	Amortized Cost		Gross Unre cognized Gains		Gross Unre cognized Losses			Fair Value
Held to maturity
State and municipal	$	41,818	$	1,272	$	(18	)	$	43,072
Total held to maturity	$	41,818	$	1,272	$	(18	)	$	43,072

Sales and calls of securities were as follows:

	Three Months Ended March 31,
	201 7		201 6
	(in thousands)

Proceeds	$	—	$	3,486
Gross gains		—		203
Gross losses		—		—

The amortized cost and fair value of the debt investment securities portfolio are shown by contrac

tual maturity.

Contractual maturities

may

differ from actual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities not due at a single maturity date are detailed separately.

	March 31 , 201 7
	Amortized Cost		Fair Value
	(in thousands)
Maturity
Available for sale
Within one year	$	4,899	$	4,926
One to five years		7,780		7,831
Five to ten years		30,943		30,540
Beyond ten years		13,780		13,787
Agency mortgage-backed: residential		99,251		98,917
Total	$	156,653	$	156,001

Held to maturity
Within one year		645		647
One to five years	$	24,177	$	25,034
Five to ten years		16,930		17,788
Total	$	41,752	$	43,469

Securities pledged at

March

31,

2017

and

December

31,

2016

had carrying values of approximately

$60.6

million and

$61.2

million, respectively, and were pledged to secure public deposits.

March

31,

2017

and

December

31,

2016,

we held securities issued by the Commonwealth of Kentucky or Kentucky municipalities having a book value of

$16

million at each period end

. Additionally, at

March

31,

2017

and

December

31,

2016,

we held securities issued by the State of Texas or Texas municipalities having a book value of

$4.3

million at each period end

. At

March

31,

2017

and

December

31,

2016,

there were

other holdings of securities of any

one

issuer, other than the U.S. Government and its agencies, in an amount greater than

10%

of stockholders’ equity.

The Company evaluates securities for other than temporary impairment (OTTI) on a quarterly

basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition, credit quality, and near-term prospects of the issuer and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer’s financial condition, the Company

may

consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, the sector or industry trends and cycles affecting the issuer, and the results of reviews of the issuer’s financial condition. As of

March

31,

2017,

management does not believe securities within our portfolio with unrealized losses should be classified as other than temporarily impaired.

Securities with unrealized losses at

March

31,

2017

and

December

31,

2016,

aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, are as follows:

	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
	(in thousands)
March 31, 201 7
Available for sale
U.S. Government and federal Agency	$	24,796	$	(489	)	$	—	$	—		$	24,796	$	(489	)
Agency mortgage-backed: residential		40,580		(975	)		3,908		(60	)		44,488		(1,035	)
State and municipal		470		(2	)		—		—			470		(2	)
Total temporarily impaired	$	65,846	$	(1,466	)	$	3,908	$	(60	)	$	69,754	$	(1,526	)

Held to maturity
State and municipal	$	558	$	(2	)	$	—	$	—		$	558	$	(2	)
Total	$	558	$	(2	)	$	—	$	—		$	558	$	(2	)


December 31, 201 6
Available for sale
U.S. Government and federal agency	$	27,738	$	(708	)	$	—	$	—		$	27,738	$	(708	)
Agency mortgage-backed: residential		63,460		(1,449	)		2,745		(43	)		66,205		(1,492	)
State and municipal		465		(8	)		—		—			465		(8	)
Corporate bonds		—		—			1,566		(3	)		1,566		(3	)
Total temporarily impaired	$	91,663	$	(2,165	)	$	4,311	$	(46	)	$	95,974	$	(2,211	)

Held to maturity
State and municipal	$	1,540	$	(18	)	$	—	$	—		$	1,540	$	(18	)
Total	$	1,540	$	(18	)	$	—	$	—		$	1,540	$	(18	)

XML 22 R10.htm IDEA: XBRL DOCUMENT

Note 3 - Loans

3 Months Ended

Mar. 31, 2017

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note

– Loans

Loans

net of unearned income, deferred loan origination costs, and net premiums on acquired loans by class were as follows:

	March 31 ,			December 31,
	201 7			201 6
	(in thousands)
Commercial	$	104,850		$	97,761
Commercial Real Estate:
Construction		41,424			36,330
Farmland		83,252			71,507
Nonfarm nonresidential		151,921			149,546
Residential Real Estate:
Multi-family		49,350			48,197
1-4 Family		185,866			188,092
Consumer		9,542			9,818
Agriculture		37,515			37,508
Other		463			477
Subtotal		664,183			639,236
Less: Allowance for loan losses		(8,966	)		(8,967	)
Loans, net	$	655,217		$	630,269

The following table presents the activity in the allowance for loan losses by portfolio segment for the

three

months ended

March

31,

2017

and

2016:

	Commercial			Commercial Real Estate			Residential Real Estate			Consumer			Agriculture			Other			Total
	(in thousands)
March 31, 201 7 :
Beginning balance	$	475		$	4,894		$	3,426		$	8		$	162		$	2		$	8,967
P rovision (negative provision)		334			(866	)		394			4			138			(4	)		–
Loans charged off		–			(27	)		(294	)		(5	)		–			–			(326	)
Recoveries		5			241			43			25			7			4			325
Ending balance	$	814		$	4,242		$	3,569		$	32		$	307		$	2		$	8,966


March 31, 2016 :
Beginning balance	$	818		$	6,993		$	3,984		$	122		$	122		$	2		$	12,041
P rovision (negative provision)		(199	)		(375	)		129			(33	)		(65	)		(7	)		(550	)
Loans charged off		(12	)		(118	)		(595	)		(13	)		–			(11	)		(749	)
Recoveries		35			263			165			39			79			17			598
Ending balance	$	642		$	6,763		$	3,683		$	115		$	136		$	1		$	11,340

e following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of

March

31,

2017:

	Commercial		Commercial Real Estate		Residential Real Estate		Consumer		Agriculture		Other		Total
	(in thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	13	$	33	$	285	$	–	$	1	$	–	$	332
Collectively evaluated for impairment		801		4,209		3,284		32		306		2		8,634
Total ending allowance balance	$	814	$	4,242	$	3,569	$	32	$	307	$	2	$	8,966

Loans:
Loans individually evaluated for impairment	$	593	$	4,837	$	4,394	$	7	$	60	$	–	$	9,891
Loans collectively evaluated for impairment		104,257		271,760		230,822		9,535		37,455		463		654,292
Total ending loans balance	$	104,850	$	276,597	$	235,216	$	9,542	$	37,515	$	463	$	664,183

The following table presents the balance in the allowance f

or loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of

December

31,

2016:

	Commercial		Commercial Real Estate		Residential Real Estate		Consumer		Agriculture		Other		Total
	(in thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	13	$	35	$	350	$	–	$	1	$	–	$	399
Collectively evaluated for impairment		462		4,859		3,076		8		161		2		8,568
Total ending allowance balance	$	475	$	4,894	$	3,426	$	8	$	162	$	2	$	8,967


Loans:
Loans individually evaluated for impairment	$	595	$	5,854	$	8,621	$	1	$	60	$	–	$	15,131
Loans collectively evaluated for impairment		97,166		251,529		227,668		9,817		37,448		477		624,105
Total ending loans balance	$	97,761	$	257,383	$	236,289	$	9,818	$	37,508	$	477	$	639,236

Impaired Loans

Impaired loans include restructured loans

and loans on nonaccrual or classified as doubtful, whereby collection of the total amount is improbable, or loss, whereby all or a portion of the loan has been written off or a specific allowance for loss has been provided.

The following table

s present information related to loans individually evaluated for impairment by class of loans as of

March

31,

2017

and

December

31,

2016

and for the

three

months ended

March

31,

2017

and

2016:

	As of March 31, 201 7						T hree Months Ended March 31, 201 7
	Unpaid Principal Balance		Recorded Investment		Allowance For Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
	(in thousands)
With No Related Allowance Recorded:
Commercial	$	704	$	493	$	—	$	494	$	—	$	—
Commercial real estate:
Construction		—		—		—		—		—		—
Farmland		4,421		2,786		—		3,264		206		206
Nonfarm nonresidential		1,868		1,165		—		1,192		32		30
Residential real estate:
Multi-family		—		—		—		2,050		—		—
1-4 Family		4,664		2,968		—		2,938		8		8
Consumer		47		7		—		4		—		—
Agriculture		—		—		—		—		—		—
Other		—		—		—		—		—		—
Subtotal		11,704		7,419		—		9,942		246		244

With An Allowance Recorded:
Commercial		100		100		13		100		2		—
Commercial real estate:
Construction		—		—		—		—		—		—
Farmland		610		586		5		588		—		—
Nonfarm nonresidential		300		300		28		301		4		—
Residential real estate:
Multi-family		—		—		—		—		—		—
1-4 Family		1,426		1,426		285		1,519		17		—
Consumer		—		—		—		—		—		—
Agriculture		78		60		1		60		—		—
Other		—		—		—		—		—		—
Subtotal		2,514		2,472		332		2,568		23		—
Total	$	14,218	$	9,891	$	332	$	12,510	$	269	$	244

	As of December 31, 201 6						T hree Months Ended March 31, 201 6
	Unpaid Principal Balance		Recorded Investment		Allowance For Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
	(in thousands)
With No Related Allowance Recorded:
Commercial	$	707	$	495	$	—	$	987	$	1	$	1
Commercial real estate:
Construction		—		—		—		261		3		—
Farmland		5,566		3,742		—		4,194		6		5
Nonfarm nonresidential		4,502		1,219		—		7,116		248		190
Residential real estate:
Multi-family		4,100		4,100		—		1,216		30		1
1-4 Family		4,663		2,910		—		8,795		58		6
Consumer		41		1		—		14		7		8
Agriculture		—		—		—		115		—		—
Other		—		—		—		—		—		—
Subtotal		19,579		12,467		—		22,698		353		211
With An Allowance Recorded:
Commercial		100		100		13		—		—		—
Commercial real estate:
Construction		—		—		—		—		—		—
Farmland		614		590		5		—		—		—
Nonfarm nonresidential		303		303		30		438		6		—
Residential real estate:
Multi-family		—		—		—		4,186		50		—
1-4 Family		1,676		1,611		350		1,684		20		—
Consumer		—		—		—		—		—		—
Agriculture		78		60		1		—		—		—
Other		—		—		—		—		—		—
Subtotal		2,771		2,664		399		6,308		76		—
Total	$	22,350	$	15,131	$	399	$	29,006	$	429	$	211

Troubled Debt Restructuring

A troubled debt restructuring (TDR)

occurs when the Bank has agreed to a loan modification in the form of a concession for a borrower who is experiencing financial difficulty. The majority of the Company’s TDRs involve a reduction in interest rate, a deferral of principal for a stated period of time, or an interest only period. All TDRs are considered impaired and the Bank has allocated reserves for these loans to reflect the present value of the concessionary terms granted to the customer.

The following table presents the types of TDR loan

modifications by portfolio segment outstanding as of

March

31,

2017

and

December

31,

2016:

	TDRs Performing to Modified Terms		TDRs Not Performing to Modified Terms		Total TDRs
	(in thousands)
March 31 , 201 7
Commercial
Rate reduction	$	—	$	33	$	33
Principal deferral		—		434		434
Commercial Real Estate:
Farmland
Principal deferral		—		2,300		2,300
Nonfarm nonresidential
Rate reduction		501		—		501
Principal deferral		—		607		607
Residential Real Estate:
1-4 Family
Rate reduction		743		—		743
Total TDRs	$	1,244	$	3,374	$	4,618

	TDRs Performing to Modified Terms		TDRs Not Performing to Modified Terms		Total TDRs
	(in thousands)
December 31, 201 6
Commercial
Rate reduction	$	—	$	33	$	33
Principal deferral		—		434		434
Commercial Real Estate:
Farmland
Principal deferral		—		2,300		2,300
Nonfarm nonresidential
Rate reduction		507		—		507
Principal deferral		—		607		607
Residential Real Estate:
Multi-family
Rate reduction		4,100		—		4,100
1-4 Family
Rate reduction		743		—		743
Total TDRs	$	5,350	$	3,374	$	8,724

March

31,

2017

and

December

31,

2016,

27%

and

61%,

respectively, of the Company’s TDRs were performing according to their modified terms. The Company allocated

$196,000

and

$197,000

in reserves to borrowers whose loan terms have been modified in TDRs as of

March

31,

2017,

and

December

31,

2016,

respectively. The Company has committed to lend

additional amounts as of

March

31,

2017

and

December

31,

2016

to borrowers with outstanding loans classified as TDRs.

difficulty and the renewal/modification did not contain a concessionary interest rate or other concessionary terms, management considers the potential removal of the TDR classification. If deemed appropriate based upon current underwriting, the TDR classification is removed as the borrower has complied with the terms of the loan at the date of renewal/modification and there was a reasonable expectation that the borrower would continue to comply with the terms of the loan subsequent to the date of the renewal/modification. In this instance, the TDR was originally considered a restructuring in a prior year as a result of a modification with an interest rate that was not commensurate with the risk of the underlying loan. Additionally, TDR classification can be removed in circumstances in which the Company performs a non-concessionary re-modification of the loan at terms that were considered to be at market for loans with comparable risk. Management expects the borrower will continue to perform under the re-modified terms based on the borrower’s past history of performance. As of

March

31,

2017,

the TDR classification was removed from

two

loans that met the requirements as discussed above. These loans totaled

$4.1

million at

December

31,

2016.

These loans are

longer evaluated individually for impairment.

TDR loan modification

s occurred during the

three

months ended

March

31,

2017

March

31,

2016.

During the

first

three

months of

2017

and

2016,

TDRs defaulted on their restructured loan within the

month period following the loan modification. A default is considered to have occurred once the TDR is past due

days or more or it has been placed on nonaccrual.

Non

performing Loans

Non

-performing loans include impaired loans and smaller balance homogeneous loans, such as residential mortgage and consumer loans, that are collectively evaluated for impairment. The following table presents the recorded investment in nonaccrual and loans past due

days and still on accrual by class of loan as of

March

31,

2017,

and

December

31,

2016:

	Nonaccrual				Loans Past Due 90 Days And Over Still Accruing
	March 31 , 201 7		December 31, 201 6		March 31 , 201 7		December 31, 201 6
	(in thousands)

Commercial	$	493	$	495	$	—	$	—
Commercial Real Estate:
Construction		—		—		—		—
Farmland		3,372		4,332		—		—
Nonfarm nonresidential		964		1,016		—		—
Residential Real Estate:
Multi-family		—		—		—		—
1-4 Family		3,206		3,312		—		—
Consumer		7		1		—		—
Agriculture		60		60		—		—
Other		—		—		—		—
Total	$	8,102	$	9,216	$	—	$	—

e following table presents the aging of the recorded investment in past due loans as of

March

31,

2017

and

December

31,

2016:

	30 – 59 Days Past Due		60 – 89 Days Past Due		90 Days And Over Past Due		Nonaccrual		Total Past Due And Nonaccrual
	(in thousands)
March 31, 201 7
Commercial	$	—	$	—	$	—	$	493	$	493
Commercial Real Estate:
Construction		—		—		—		—		—
Farmland		262		4		—		3,372		3,638
Nonfarm nonresidential		—		—		—		964		964
Residential Real Estate:
Multi-family		—		—		—		—		—
1-4 Family		691		281		—		3,206		4,178
Consumer		6		4		—		7		17
Agriculture		13		—		—		60		73
Other		—		—		—		—		—
Total	$	972	$	289	$	—	$	8,102	$	9,363

	30 – 59 Days Past Due		60 – 89 Days Past Due		90 Days And Over Past Due		Nonaccrual		Total Past Due And Nonaccrual
	(in thousands)
December 31, 201 6
Commercial	$	—	$	—	$	—	$	495	$	495
Commercial Real Estate:
Construction		—		—		—		—		—
Farmland		626		—		—		4,332		4,958
Nonfarm nonresidential		—		59		—		1,016		1,075
Residential Real Estate:
Multi-family		—		—		—		—		—
1-4 Family		1,454		256		—		3,312		5,022
Consumer		19		—		—		1		20
Agriculture		203		—		—		60		263
Other		—		—		—		—		—
Total	$	2,302	$	315	$	—	$	9,216	$	11,833

Credit Quality Indicators

We categorize

all loans into risk categories at origination based upon original underwriting. Thereafter, we categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends. Loans are also analyzed through our internal and external loan review processes. Borrower relationships in excess of

$500,000

are routinely analyzed through our credit administration processes which classify the loans as to credit risk. The following definitions are used for risk ratings:

Watch

–

Loans

classified as watch are those loans which have or

may

experience a potentially adverse development which necessitates increased monitoring.

Special Mention

–

Loans classified as special mention do not have all of the characteristics of substandard or doubtful loans. They have

one

or more deficiencies which warrant special attention and which corrective action, such as accelerated collection practices,

may

remedy.

Substandard

–

Loans classified as substandard are those loans with clear and defined weaknesses such as a highly leveraged position, unfavorable financial ratios, uncertain repayment sources or poor financial condition which

may

jeopardize the repayment of the debt as contractually agreed. They are characterized by the distinct possibility that we will sustain some losses if the deficiencies are not corrected.

Doubtful

– Loans classified as doubtful are those loans which have characteristics similar to substandard loans but with an increased risk that collection or liquidation in full is highly questionable and improbable.

Loans not meeting the criteria above that are analyzed individually as part of the above described process are consi

dered to be “Pass” rated loans. As of

March

31,

2017,

and

December

31,

2016,

and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

	Pass		Watch		Special Mention		Substandard		Doubtful		Total
	(in thousands)
March 31, 201 7
Commercial	$	103,597	$	293	$	—	$	960	$	—	$	104,850
Commercial Real Estate:
Construction		40,927		497		—		—		—		41,424
Farmland		76,161		1,335		—		5,756		—		83,252
Nonfarm nonresidential		146,628		3,221		441		1,631		—		151,921
Residential Real Estate:
Multi-family		39,536		5,991		—		3,823		—		49,350
1-4 Family		173,463		5,521		51		6,831		—		185,866
Consumer		9,130		314		—		98		—		9,542
Agriculture		27,456		9,270		—		789		—		37,515
Other		463		—		—		—		—		463
Total	$	617,361	$	26,442	$	492	$	19,888	$	—	$	664,183

	Pass		Watch		Special Mention		Substandard		Doubtful		Total
	(in thousands)
December 31, 201 6
Commercial	$	96,402	$	294	$	—	$	1,065	$	—	$	97,761
Commercial Real Estate:
Construction		35,823		507		—		—		—		36,330
Farmland		63,323		1,521		—		6,663		—		71,507
Nonfarm nonresidential		142,222		5,217		445		1,662		—		149,546
Residential Real Estate:
Multi-family		38,281		6,080		—		3,836		—		48,197
1-4 Family		173,565		6,909		52		7,566		—		188,092
Consumer		9,397		348		—		73		—		9,818
Agriculture		26,940		9,555		—		1,013		—		37,508
Other		477		—		—		—		—		477
Total	$	586,430	$	30,431	$	497	$	21,878	$	—	$	639,236

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

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Note 4 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2017

Real Estate Owned [Text Block]

Note

– Other Real Estate Owned

Other real estate owned (OREO) is real estate acquired as a result of foreclosure or by deed in lieu of fore

closure. It is classified as real estate owned until such time as it is sold. When property is acquired as a result of foreclosure or by deed in lieu of foreclosure, it is recorded at its fair market value less expected cost to sell. Any write-down of the property at the time of acquisition is charged to the allowance for loan losses.

Fair value of OREO is determined on an individual property basis.

When foreclosed properties are acquired, we obtain a new appraisal of the subject property or have staff from our special assets group or in our centralized appraisal department evaluate the latest in-file appraisal in connection with the transfer to OREO. We typically obtain updated appraisals within

five

quarters of the anniversary date of ownership unless a sale is imminent. Subsequent reductions in fair value are recorded as non-interest expense when a new appraisal indicates a decline in value or in cases where a listing price is lowered below the appraised amount.

The following table presents the major categories of OREO at the period-ends indicated:

	March 31, 2017		December 31, 201 6
	(in thousands)
Commercial Real Estate:
Construction	$	6,571	$	6,571
Residential Real Estate:
1-4 Family		—		250
	$	6,571	$	6,821

esidential loans secured by

family residential properties in the process of foreclosure totaled

$822,000

and

$932,000

March

31,

2017

and

December

31,

2016,

respectively. Net activity relating to other real estate owned during the

three

months ended

March

31,

2017

and

2016

is as follows:

	For the Three Months Ended March 31,
	201 7			201 6
	(in thousands)
OREO Activity
OREO as of January 1	$	6,821		$	19,214
Real estate acquired		100			441
Valuation adjustment write-downs		—			(500	)
Net gain on sales		38			55
Proceeds from sale s of properties		(388	)		(1,349	)
OREO as of March 31	$	6,571		$	17,861

We recognized

OREO rental income for the

three

months ended

March

31,

2017,

and

$256,000

for the

three

months ended

March

31,

2016.

Expenses related to other real estate

owned include:

	For the Three Months Ended March 31 ,
	201 7			201 6
	(in thousands)
Net gain on sales	$	(38	)	$	(55	)
Valuation adjustment write-downs		—			500
Operating expense		22			223
Total	$	(16	)	$	668

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 40
-Section 40
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=84176060&loc=d3e18551-111553

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 40
-Section 40
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84176060&loc=d3e18511-111553

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=82891408&loc=d3e4437-111522

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 35
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(c)(Schedule III))
-URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(4))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
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-URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(8))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

+ Details

XML 24 R12.htm IDEA: XBRL DOCUMENT

Note 5 - Deposits

3 Months Ended

Mar. 31, 2017

Deposit Liabilities Disclosures [Text Block]

Note

– Deposits

The following table shows

ending deposit balances by category as of:

	March 31 , 201 7		December 31, 201 6
	(in thousands)
Non-interest bearing	$	127,049	$	124,395
Interest checking		104,811		103,876
Money market		122,434		142,497
Savings		36,380		34,518
Certificates of deposit		470,029		444,639
Total	$	860,703	$	849,925

Time deposits of $

250,000

or more were

$34.5

million and

$29.1

million at

March

31,

2017

and

December

31,

2016,

respectively.

Scheduled maturities of all

time deposits at

March

31,

2017

were as follows (in thousands):

Year 1	$	225,126
Year 2		155,900
Year 3		61,411
Year 4		21,374
Year 5		6,218
	$	470,029

XML 25 R13.htm IDEA: XBRL DOCUMENT

Note 6 - Advances From the Federal Home Loan Bank

3 Months Ended

Mar. 31, 2017

Federal Home Loan Bank Advances, Disclosure [Text Block]

Note

– Advance

from the Federal Home Loan Bank

Advances from the Federal Home Loan Bank

were as follows:

	March 31,		December 31,
	201 7		201 6
	(in thousands)
A dvances with fixed rates from 0.00% to 5.25% and maturities ranging from 2 017 through 2033, averaging 1.04% at March 31, 2017 and 0.85% at December 31, 2016	$	17,313	$	22,458

Scheduled principal payments on the above during the next

five

years and thereafter (in thousands):

	Advances
Year 1	$	15,528
Year 2		226
Year 3		508
Year 4		762
Year 5		109
Thereafter		180
	$	17,313

Each advance is payable

based upon the terms of agreement, with a prepayment penalty. New advances are limited to a

one

year maturity or less.

prepayment penalties were incurred during

2017

2016.

The advances are collateralized by

first

mortgage-residential loans. The borrowing capacity is based on the market value of the underlying pledged loans. At

March

31,

2017,

our additional borrowing capacity with the FHLB was

$13.9

million. The availability of our borrowing capacity could be affected by our financial condition and the FHLB could require additional collateral or, among other things, exercise its right to deny a funding request, at its discretion.

XML 26 R14.htm IDEA: XBRL DOCUMENT

Note 7 - Fair Values Measurement

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Text Block]

Note

– Fair Values Measurement

e measurement date. We use various valuation techniques to determine fair value, including market, income and cost approaches. There are

three

levels of inputs that

may

be used to measure fair values:

Level

Quoted prices (unadjusted) for identical assets or liabilities in active markets that an entity has the ability to access as of the measurement date, or observable inputs.

Level

Significant other observable inputs other than Level

prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data.

Level

Significant unobservable inputs that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

In certain cases, the inputs used to measure fair value

may

fall into different leve

ls of the fair value hierarchy. When that occurs, we classify the fair value hierarchy on the lowest level of input that is significant to the fair value measurement. We used the following methods and significant assumptions to estimate fair value.

Securities:

The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges, if available. This valuation method is classified as Level

in the fair value hierarchy. For securities where quoted prices are not available, fair values are calculated on market prices of similar securities, or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities. Matrix pricing relies on the securities’ relationship to similarly traded securities, benchmark curves, and the benchmarking of like securities. Matrix pricing utilizes observable market inputs such as benchmark yields, reported trades, broker/dealer quotes, issuer spreads,

two

-sided markets, benchmark securities, bids, offers, reference data, and industry and economic events. In instances where broker quotes are used, these quotes are obtained from market makers or broker-dealers recognized to be market participants. This valuation method is classified as Level

in the fair value hierarchy. For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators.

This valuation method is classified as Level

in the fair value hierarchy. Discounted cash flows are calculated using spread to swap and LIBOR curves that are updated to incorporate loss severities, volatility, credit spread and optionality. During times when trading is more liquid, broker quotes are used (if available) to validate the model.

Rating agency and industry research reports as well as defaults and deferrals on individual securities are reviewed and incorporated into the calculations.

Impaired Loans:

An impaired loan is evaluated at the time the loan is identified as impaired and is recorded at fair value less costs to sell. Fair value is measured based on the value of the collateral securing the loan and is classified as Level

in the fair value hierarchy. Fair value is determined using several methods. Generally, the fair value of real estate is determined based on appraisals by qualified licensed appraisers. These appraisals

may

utilize a single valuation approach or a combination of approaches including comparable sales and the income approach.

Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available.

These routine adjustments are made to adjust the value of a specific property relative to comparable properties for variations in qualities such as location, size, and income production capacity relative to the subject property of the appraisal. Such adjustments are typically significant and result in a Level

classification of the inputs for determining fair value.

We routinely apply an internal discount to the value of appraisals used in the fair value evaluation of our impaired loans. The deductions to

the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where our appraisal date predates a likely change in market conditions. These deductions range from

10%

for routine real estate collateral to

25%

for real estate that is determined

(1)

to have a thin trading market or

(2)

to be specialized collateral. This is in addition to estimated discounts for cost to sell of

six

ten

percent.

We also apply discounts to the expected fair val

ue of collateral for impaired loans where the likely resolution involves litigation or foreclosure. Resolution of this nature generally results in receiving lower values for real estate collateral in a more aggressive sales environment. We have utilized discounts ranging from

10%

33%

in our impairment evaluations when applicable.

Impaired loans are evaluated quarterly for additional impairment. We obtain updated appraisals on properties securing our loans when circumstances are warranted such as at the t

ime of renewal or when market conditions have significantly changed. This determination is made on a property-by-property basis in light of circumstances in the broader economic climate and our assessment of deterioration of real estate values in the market in which the property is located. The

first

stage of our assessment involves management’s inspection of the property in question. Management also engages in conversations with local real estate professionals and market participants to determine the likely marketing time and value range for the property. The

second

stage involves an assessment of current trends in the regional market. After thorough consideration of these factors, management will either internally evaluate fair value or order a new appraisal.

Other Real Estate Owned (OREO)

: OREO is evaluated at the time of acquisition and recorded at fair value as determined by independent appraisal or internal evaluation less cost to sell. Our quarterly evaluations of OREO for impairment are driven by property type. For smaller dollar single family homes, we consult with internal real estate sales staff and external realtors, investors, and appraisers. Based on these consultations, we determine asking prices for OREO properties we are marketing for sale. If the internally evaluated fair value or asking price is below our recorded investment in the property, appropriate write-downs are taken.

For larger dollar commercial real estate properties, we obtain a new appraisal of the subject property or have staff

in our special assets group or centralized appraisal department evaluate the latest in-file appraisal in connection with the transfer to other real estate owned. We generally obtain updated appraisals within

five

quarters of the anniversary date of ownership unless a sale is imminent. When an asking price is lowered below the most recent appraised value, appropriate write-downs are taken.

We routinely apply an internal discount to the value of appraisals used in the fair value evaluation of our OREO. The de

ductions to the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where our appraisal date predates a likely change in market conditions. These deductions range from

10%

for routine real estate collateral to

25%

for real estate that is determined

(1)

to have a thin trading market or

(2)

to be specialized collateral. This is in addition to estimated discounts for cost to sell of

six

ten

percent.

Financial assets measured at fair value on a recurring basis at

March

31,

2017

and

December

31,

2016

are summarized below:

			Fair Value Measurements at March 31, 201 7 Using
			(in thousands)
	Carrying		Quoted Prices In Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	Value		(Level 1)		(Level 2)		(Level 3)
Available for sale securities
U.S. Government and federal agency	$	33,039	$	—	$	33,039	$	—
Agency mortgage-backed: residential		98,917		—		98,917		—
Collateralized loan obligations		18,881		—		18,881		—
State and municipal		2,045		—		2,045		—
Corporate bonds		3,119		—		3,119		—
Total	$	156,001	$	—	$	156,001	$	—

			Fair Value Measurements at December 31, 201 6 Using
			(in thousands)
Description	Carrying Value		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities
U.S. Government and federal agency	$	34,099	$	—	$	34,099	$	—
Agency mortgage-backed: residential		102,353		—		102,353		—
Collateralized loan obligations		11,203		—		11,203		—
State and municipal		2,045		—		2,045		—
Corporate bonds		3,090		—		3,090		—
Total	$	152,790	$	—	$	152,790	$	—

There were

no transfers between Level

and Level

during

2017

2016.

Financial assets measured at fair value on a non-recurring basis are summarized below:

			Fair Value Measurements at March 31, 201 7 Using
			(in thousands)
Description	Carrying Value		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans:
Commercial	$	87	$	—	$	—	$	87
Commercial real estate:
Construction		—		—		—		—
Farmland		581		—		—		581
Nonfarm nonresidential		—		—		—		—
Residential real estate:
Multi-family		—		—		—		—
1-4 Family		1,141		—		—		1,141
Consumer		—		—		—		—
Agriculture		59		—		—		59
Other		—		—		—		—
Other real estate owned, net:
Commercial real estate:
Construction		6,571		—		—		6,571
Farmland		—		—		—		—
Nonfarm nonresidential		—		—		—		—
Residential real estate:
Multi-family		—		—		—		—
1-4 Family		—		—		—		—

			Fair Value Measurements at December 31, 201 6 Using
			(in thousands)
Description	Carrying Value		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans:
Commercial	$	87	$	—	$	—	$	87
Commercial real estate:
Construction		—		—		—		—
Farmland		585		—		—		585
Nonfarm nonresidential		—		—		—		—
Residential real estate:
Multi-family		—		—		—		—
1-4 Family		1,261		—		—		1,261
Consumer		—		—		—		—
Agriculture		59		—		—		59
Other		—		—		—		—
Other real estate owned, net:
Commercial real estate:
Construction		6,571		—		—		6,571
Farmland		—		—		—		—
Nonfarm nonresidential		—		—		—		—
Residential real estate:
Multi-family		—		—		—		—
1-4 Family		250		—		—		250

Impaired loans,

which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of

$2.2

million at

March

31,

2017

with a valuation allowance of

$303,000,

resulting in

additional provision for loan losses for the

three

months ended

March

31,

2017.

Impaired loans had a carrying amount of

$1.8

million with a valuation allowance of

$383,000,

resulting in an additional provision for loan losses of

$46,000

for the

three

months ended

March

31,

2016.

December

31,

2016,

impaired loans had a carrying amount of

$2.4

million, with a valuation allowance of

$370,000.

OREO

, which is measured at the lower of carrying or fair value less costs to sell, had a net carrying amount of

$6.6

million as of

March

31,

2017,

compared with

$17.9

million at

March

31,

2016

and

$6.8

million at

December

31,

2016.

write-downs were recorded on OREO for the

three

months ended

March

31,

2017,

compared to write-downs of

$500,000

for the

three

months ended

March

31,

2016.

The following table presents qualitative information about level

fair value measurements for financial instruments measured at fair value on a non-recurring basis at

March

31,

2017:

	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
	(in thousands )

Impaired loans – Residential real estate	$	1,141	Sales comparison approach	Adjustment for differences between the comparable sales		0%	-	22%	(9%)

Other real estate owned – Commercial real estate	$	6,571	Sales comparison approach	Adjustment for differences between the comparable sales		0%	-	20%	(9%)

			Income approach	Discount or capitalization rate		18%	-	20%	(19%)

The following table presents qualitative information about level

fair value measurements for financial instruments measured at fair value on a non-recurring basis at

December

31,

201

	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
	(in thousands)

Impaired loans – Residential real estate	$	1,261	Sales comparison approach	Adjustment for differences between the comparable sales		0%	-	22%	(9%)

Other real estate owned – Commercial real estate	$	6,571	Sales comparison approach	Adjustment for differences between the comparable sales		0%	-	20%	(9%)

			Income approach	Discount or capitalization rate		18%	-	20%	(19%)

Carrying amount and estimated fair values of financial instruments were as follows for the periods indicated:

			Fair Value Measurements at March 31, 201 7 Using
	Carrying Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
Financial assets
Cash and cash equivalents	$	37,785	$	36,094	$	1,691	$	—	$	37,785
Securities available for sale		156,001		—		156,001		—		156,001
Securities held to maturity		41,752		—		43,469		—		43,469
Federal Home Loan Bank stock		7,323		N/A		N/A		N/A		N/A
L oans held for sale		—		—		—		—		—
Loans, net		655,217		—		—		652,746		652,746
Accrued interest receivable		3,100		—		1,123		1,977		3,100
Financial liabilities
Deposits	$	860,703	$	127,049	$	720,593	$	—	$	847,642
Federal Home Loan Bank advances		17,313		—		17,338		—		17,338
Subordinated capital notes		2,925		—		—		2,846		2,846
Junior subordinated debentures		21,000		—		—		16,263		16,263
Accrued interest payable		902		—		362		540		902

			Fair Value Measurements at December 31, 201 6 Using
	Carrying Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
Financial assets
Cash and cash equivalents	$	66,316	$	31,091	$	35,225	$	—	$	66,316
Securities available for sale		152,790		—		152,790		—		152,790
Securities held to maturity		41,818		—		43,072		—		43,072
Federal Home Loan Bank stock		7,323		N/A		N/A		N/A		N/A
Loans held for sale		—		—		—		—		—
Loans, net		630,269		—		—		632,528		632,528
Accrued interest receivable		3,137		—		1,203		1,934		3,137
Financial liabilities
Deposits	$	849,925	$	124,395	$	712,458	$	—	$	836,853
Federal Home Loan Bank advances		22,458		—		22,475		—		22,475
Subordinated capital notes		3,150		—		—		3,091		3,091
Junior subordinated debentures		21,000		—		—		13,263		13,263
Accrued interest payable		734		—		369		365		734

The methods and assumptions, not previously presented, used to estimate fair values are described as follows:

(a) Cash and Cash Equivalents

The

carrying amounts of cash and short-term instruments approximate fair values and are classified as either Level

or Level

Non-interest bearing deposits are Level

whereas interest bearing due from bank accounts and fed funds sold are Level

(b) FHLB

Stock

It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability.

Fair values of loans, excluding loans held for

sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level

classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level

classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price.

(d) Loans Held for Sale

The fair value of loans held for sale is estimated based upon binding contracts and quotes from

third

party investors resulting in a Level

classification.

(e) Deposits

The fair values disclosed for non-interest bearing deposits are, by definition, equal to the amount payable on demand at the reporting date resulting in a Level

classification. The carrying amounts of variable rate interest bearing deposits approximate

their fair values at the reporting date resulting in a Level

classification. Fair values for fixed rate interest bearing deposits are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level

classification.

(

) Other Borrowings

The fair values of the Company

’s FHLB advances are estimated using discounted cash flow analyses based on the current borrowing rates resulting in a Level

classification.

The fair values of the Company

’s subordinated capital notes and junior subordinated debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level

classification.

) Accrued Interest Receivable/Payable

The carrying amounts of accrued interest approximate fair value resulting in a Level

or Level

classification based on the level of the asset or liabil

ity with which the accrual is associated.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 27 R15.htm IDEA: XBRL DOCUMENT

Note 8 - Income Taxes

3 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Text Block]

Note

– Income Taxes

Deferred tax assets and liabilities were due to the following as of:

	March 31,			December 31,
	201 7			201 6
	(in thousands)
Deferred tax assets:
Net operating loss carry-forward	$	44,630		$	42,094
Allowance for loan losses		3,138			3,139
Other real estate owned write-down		3,366			3,366
Alternative minimum tax credit carry-forward		692			692
Net assets from acquisitions		655			674
Net unrealized loss on securities		504			867
New market tax credit carry-forward		208			208
Nonaccrual loan interest		487			481
Accrued e xpenses		241			3,860
Other		773			825
		54,694			56,206

Deferred tax liabilities:
FHLB stock dividends		928			928
Fixed assets		84			89
Other		416			1,140
		1,428			2,157
Net deferred tax assets before valuation allowance		53,266			54,049
Valuation allowance		(53,266	)		(54,049	)
Net deferred tax asset	$	—		$	—

Our estimate of

our ability to realize the deferred tax asset depends on our estimate of projected future levels of taxable income. In analyzing future taxable income levels, we considered all evidence currently available, both positive and negative. Based on our analysis, we established a valuation allowance for all deferred tax assets as of

December

31,

2011.

The valuation allowance remains in effect as of

March

31,

2017

The Company does

not

have any beginning and ending unrecognized tax benefits. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twel

ve months. There were

interest and penalties recorded in the income statement or accrued for the

three

months ended

March

31,

2017

March

31,

2016

related to unrecognized tax benefits.

Under Section

382

of the Internal Revenue Code, as amended (“

Section

382”),

the Company’s its net operating loss carryforwards (“NOLs”) and other deferred tax assets can generally be used to offset future taxable income and therefore reduce federal income tax obligations. However, the Company's ability to use its NOLs would be limited if there was an “ownership change” as defined by Section

382.

This would occur if shareholders owning (or deemed to own under the tax rules)

or more of the Company's voting and non-voting common shares increase their aggregate ownership of the Company by more than

percentage points over a defined period of time.

2015,

the Company took

two

measures to preserve the value of its NOLs. First, we adopted a tax benefits preservation plan designed to reduce the likelihood of an “ownership change” occurring as a result of purchases and sales of the Company's common shares. Upon adoption of plan, the Company declared a dividend of

one

preferred stock purchase right for each common share outstanding as of the close of business on

July

10,

2015.

Any shareholder or group that acquires beneficial ownership of

or more of the Company (an “acquiring person”) could be subject to significant dilution in its holdings if the Company's Board of Directors does not approve such acquisition. Existing shareholders holding

or more of the Company will not be considered acquiring persons unless they acquire additional shares, subject to certain exceptions described in the plan. In addition, the Board of Directors has the discretion to exempt certain transactions and certain persons whose acquisition of securities is determined by the Board not to jeopardize the Company's deferred tax assets. The rights will expire upon the earlier of (i)

June

29,

2018,

(ii) the beginning of a taxable year with respect to which the Board of Directors determines that no tax benefits

may

be carried forward, (iii) the repeal or amendment of Section

382

or any successor statute, if the Board of Directors determines that the plan is no longer needed to preserve the tax benefits, and (iv) certain other events as described in the plan.

September

23,

2015,

our shareholders approved an amendment to the Company’s articles of incorporation to further help protect the long-term value of the Company’s NOLs. The amendment provides a means to block transfers of our common shares that could result in an ownership change under Section

382.

The transfer restrictions will expire on the earlier of (i)

September

23,

2018,

(ii) the beginning of a taxable year with respect to which the Board of Directors determines that no tax benefit

may

be carried forward, (iii) the repeal of Section

382

or any successor statute if our Board determines that the transfer restrictions are no longer needed to preserve the tax benefits of our NOLs, or (iv) such date as the Board otherwise determines that the transfer restrictions are no longer necessary.

The Company and its subsidiaries are subject to U.S. federal income tax and th

e Company is subject to income tax in the Commonwealth of Kentucky. The Company is no longer subject to examination by taxing authorities for years before

2013

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Note 9 - Stock Plans and Stock Based Compensation

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note

– Stock Plans and Stock Based Compensation

hares available for issuance under the

2016

Omnibus Equity Compensation Plan

(“2016

Plan”) total

23,684.

Shares issued to employees under the plan vest annually on the anniversary date of the grant generally over

three

four

years.

The Company also main

tains the Porter Bancorp, Inc.

2006

Non-Employee Directors Stock Ownership Incentive Plan

(“2006

Director Plan”) pursuant to which

17,912

shares remain available for issuance as annual awards of restricted stock to the Company’s non-employee directors. Shares issued annually to non-employee directors have a fair market value of

$25,000

and vest on

December

in the year of grant

The fair value of t

2017

unvested shares issued was

$215,000,

$9.44

per weighted-average share. The Company recorded

$54,000

and

$73,000

of stock-based compensation during the

first

three

months of

2017

and

2016,

respectively, to salaries and employee benefits

. We expect substantially all of the unvested shares outstanding at the end of the period to vest according to the vesting schedule.

deferred tax benefit was recognized related to this expense for either period.

The following table summarizes unvested share activity as of and for the periods indicated

for the Stock Incentive Plan:

	Three Months Ended					Twelve Months Ended
	March 31 , 201 7					December 31, 201 6
				Weighted					Weighted
				Average					Average
				Grant					Grant
	Shares			Price		Shares			Price
Outstanding, beginning		179,513		$	4.89		184,482		$	4.81
Granted		22,787			9.44		35,465			9.10
Vested		(53,335	)		4.45		(38,462	)		8.32
Forfeited		—			—		(1,972	)		6.16
Outstanding, ending		148,965		$	5.74		179,513		$	4.89

Unrecognized stock based compensation expense related to unvested shares for the remainder of

201

and beyond is estimated as follows (in thousands):

April 201 7 – December 2017	$	199
201 8		262
201 9		102
20 20 & thereafter		25

XML 29 R17.htm IDEA: XBRL DOCUMENT

Note 10 - Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Text Block]

Note

– Earnings (Loss) per Share

The factors used in the basic and diluted earnings

per share computations follow:

	Three Months Ended
	March 31 ,
	201 7		201 6
	(in thousands, except share and per share data)

Net income	$	1,680	$	1,480
Less:
Earnings allocated to unvested shares		44		51
Net income available to common shareholders, basic and diluted	$	1,636	$	1,429

Basic
Weighted average common shares including unvested common shares outstanding		6,227,265		5,389,062
Less:
Weighted average unvested common shares		164,239		183,996
Weighted average common shares outstanding		6,063,026		5,205,066
Basic income per common share	$	0.27	$	0.27

Diluted
Add: Dilutive effects of assumed exercises of common stock warrants		—		—
Weighted average common shares and potential common shares		6,063,026		5,205,066
Diluted income per common share	$	0.27	$	0.27

The Company had

outstanding

stock options at

March

31,

2017

2016.

A warrant for the purchase of

66,113

shares of the Company’s common stock at an exercise price of

$79.41

was outstanding at

March

31,

2017

and

2016,

but was not included in the diluted EPS computation as inclusion would have been anti-dilutive.

XML 30 R18.htm IDEA: XBRL DOCUMENT

Note 11 - Capital Requirements and Restrictions of Retained Earnings

3 Months Ended

Mar. 31, 2017

Regulatory Capital Requirements under Banking Regulations [Text Block]

Note

– Capital Requirements and Restrictions on Retained Earnings

Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt correcti

ve action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action.

The final rules implementing Basel Committee on Banking Supervision

’s capital guidelines for U.S. Banks (Basel III rules) became effective for the Company and Bank on

January

2015

with full compliance with all of the requirements being phased in over a multi-year schedule through

January

2019.

The final rules allowed banks and their holding companies with less than

$250

billion in assets a

one

-time opportunity to opt-out of a requirement to include unrealized gains and losses in accumulated other comprehensive income in their capital calculation. The Company and the Bank opted out of this requirement. The rules also establish a “capital conservation buffer” of

2.5%

above the regulatory minimum risk-based capital ratios. Once the capital conservation buffer is fully phased in, the minimum ratios are a common equity Tier

risk-based capital ratio of

7.0%,

a Tier

risk-based capital ratio of

8.5%,

and a total risk-based capital ratio of

10.5%.

The phase-in of the capital conservation buffer requirement began in

January

2016

0.625%

of risk-weighted assets and increases to

1.25%

2017,

1.875%

2018,

and

2.5%

2019.

An institution is subject to limitations on paying dividends, engaging in share repurchases and paying discretionary bonuses if capital levels fall below minimum levels plus the buffer amounts. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions.

In its

Consent Order with the FDIC and the KDFI, the Bank has agreed to maintain a minimum Tier

leverage ratio of

and a minimum total risk based capital ratio of

12%.

The Bank cannot be considered well-capitalized while subject to the Consent Order. We are also restricted from accepting, renewing, or rolling-over brokered deposits without the prior receipt of a waiver on a case-by-case basis from our regulators.

September

21,

2011,

we entered into a Written Agreement with the Federal Reserve Bank of St. L

ouis. Pursuant to the Agreement, we made formal commitments to use our financial and management resources to serve as a source of strength for the Bank and to assist the Bank in addressing weaknesses identified by the FDIC and the KDFI, to pay no dividends without prior written approval, to pay no interest or principal on trust preferred securities without prior written approval, and to submit an acceptable plan to maintain sufficient capital.

The following tables show the ratios (excluding capital conserva

tion buffer) and amounts of common equity Tier

Tier

capital, and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and the Bank at the dates indicated (dollars in thousands):

	Actual					Regulatory Minimums for Capital Adequacy Purposes
	Amount		Ratio			Amount		Ratio
As of March 31, 201 7 :
Total risk-based capital (to risk- weighted assets)
Consolidated	$	72,920		10.15	%	$	57,457		8.00	%
Bank		70,957		9.89			57,402		8.00
Total common equity Tier 1 risk- based capital (to risk weighted assets)
Consolidated		37,978		5.29			32,319		4.50
Bank		59,786		8.33			32,289		4.50
Tier I capital (to risk-weighted assets)
Consolidated		50,936		7.09			43,093		6.00
Bank		59,786		8.33			43,052		6.00
Tier I capital (to average assets)
Consolidated		50,936		5.43			37,553		4.00
Bank		59,786		6.37			37,525		4.00

	Actual					Regulatory Minimums f or Capital Adequacy Purposes
	Amount		Ratio			Amount		Ratio
As of December 31, 201 6 :
Total risk-based capital (to risk- weighted assets)
Consolidated	$	71,109		10.21	%	$	55,714		8.00	%
Bank		68,773		9.88			55,663		8.00
Total common equity Tier 1risk- based capital (to risk weighted assets)
Consolidated		36,199		5.20			31,339		4.50	%
Bank		57,642		8.28			31,311		4.50
Tier I capital (to risk-weighted assets)
Consolidated		48,713		6.99			41,786		6.00
Bank		57,642		8.28			41,747		6.00
Tier I capital (to average assets)
Consolidated		48,713		5.27			36,975		4.00
Bank		57,642		6.24			36,949		4.00

The Consent Order requires the Bank to achieve the minimum capital ratios presented below:

	Actual as of March 31, 201 7					Ratio Required by Consent Order
	Amount		Ratio			Amount		Ratio

Total capital to risk-weighted assets	$	70,957		9.89	%	$	86,103		12.00	%
Tier I capital to average assets		59,786		6.37			84,431		9.00

Bank regulatory agencies can exercise discretion when an institution

does not meet the terms of a Consent Order. Based on individual circumstances, the agencies

may

issue mandatory directives, impose monetary penalties, initiate changes in management, or take more serious adverse actions.

Kentucky banking laws limit the a

mount of dividends that

may

be paid to a holding company by its subsidiary banks without prior approval. These laws limit the amount of dividends that

may

be paid in any calendar year to current year’s net income, as defined in the laws, combined with the retained net income of the preceding

two

years, less any dividends declared during those periods. The Bank has agreed with its primary regulators to obtain their written consent prior to declaring or paying any future dividends. As a practical matter, the Bank cannot pay dividends to the Company until the Consent Order is lifted or modified and the Bank returns to consistent profitability.

The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1G
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958577-112826

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1C
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958572-112826

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1E
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958574-112826

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1H
-URI http://asc.fasb.org/extlink&oid=84167132&loc=d3e65071-112826

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958569-112826

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958570-112826

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1F
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958575-112826

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
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-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958568-112826

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1D
-URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958573-112826

+ Details

XML 31 R19.htm IDEA: XBRL DOCUMENT

Note 12 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Text Block]

Note

–

Off Balance Sheet Risks, Commitments, and Contingent Liabilities

ents reflect the potential future obligations of the Company pursuant to those financial instruments. Creditworthiness for all instruments is evaluated on a case-by-case basis in accordance with the Company’s credit policies. Collateral from the client

may

be required based on the Company’s credit evaluation of the client and

may

include business assets of commercial clients, as well as personal property and real estate of individual clients or guarantors.

An approved but unfunded loan commitment represe

nts a potential credit risk and a liquidity risk, since the Company’s client(s)

may

demand immediate cash that would require funding. In addition, unfunded loan commitments represent interest rate risk as market interest rates

may

rise above the rate committed to the Company’s client. Since a portion of these loan commitments normally expire unused, the total amount of outstanding commitments at any point in time

may

not require future funding.

Standby letters of credit are conditional commitments issued

by the Company to guarantee the performance of a client to a

third

party. The terms and risk of loss involved in issuing standby letters of credit are similar to those involved in issuing loan commitments and extending credit. In addition to credit risk, the Company also has liquidity risk associated with standby letters of credit because funding for these obligations could be required immediately. The Company does not deem this risk to be material. No liability is currently established for standby letters of credit.

The following table presents the contractual amounts of financial instruments with off-balance sheet risk for each period ended:

	March 31, 201 7				December 31, 201 6
	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
	(in thousands)
Commitments to make loans	$	25,462	$	16,732	$	19,445	$	18,347
Unused lines of credit		10,356		46,662		7,935		51,407
Standby letters of credit		573		373		582		360

Commitments to make loans are generally made for periods of

one

year or less.

In connection with the purchase of

two

loan participations, the Bank entered into

two

risk participation agreements during the

fourth

quarter of

2016,

which had notional amounts

totaling

$14.6

million at both

March

31,

2017

and

December

31,

2016.

The Company is

subject to claims and lawsuits that arise primarily in the ordinary course of business. Litigation is subject to inherent uncertainties and unfavorable rulings could occur. The Company records contingent liabilities resulting from claims against it when a loss is assessed to be probable and the amount of the loss is reasonably estimable. Accruals are not made in cases where liability is not probable or the amount cannot be reasonably estimated. Assessing probability of loss and estimating probable losses requires analysis of multiple factors, including in some cases judgments about the potential actions of

third

party claimants and courts. Recorded contingent liabilities are based on the best information available and actual losses in any future period are inherently uncertain. Based upon current knowledge and after consultation with counsel, the Company believes the pending legal proceedings or claims should not have a material impact on its financial position or results of operations. However, in light of the uncertainties involved in such proceedings, the outcome of a particular matter

may

be material to the financial position or results of operations for a particular reporting period in the future.

June

18,

2010,

three

real estate development companies filed suit in Kentucky state court against PBI Bank and

Managed Assets of Kentucky. On

July

16,

2013,

a jury in Louisville, Kentucky returned a verdict against the Bank, awarding the plaintiffs compensatory damages of

$1,515,000

and punitive damages of

$5,500,000.

The Bank filed an appeal with the Kentucky Court of Appeals on

October

25,

2013.

December

2016,

the Court of Appeals ruled against the Bank and upheld the previous award of

$7.015

million in damages, with

one

dissenting opinion as to the amount of punitive damages awarded.

The Bank previously accrued the compensatory damages of the trial court

verdict along with interest at the statutory rate. Following the appellate court ruling, the Bank accrued the punitive damages award and statutory interest that totaled approximately

$8.0

million, which had a negative impact on earnings and capital for

2016.

March

2017,

the parties entered into a settlement agreement , the court entered an agreed order ending the litigation, payment was made, and the Bank withdrew its motion for discretionary review with the Kentucky Supreme Court. As the Company had previously established a reserve for this matter, the settlement did not have a material effect on the Company’s results of operation for

2017.

October

17,

2014,

the United States

Department of Justice (“DOJ”) notified the Bank that it was the subject of an investigation into possible violations of federal laws, including, among other things, possible violations related to false bank entries, bank fraud and securities fraud. The investigation concerns allegations that Bank personnel engaged in practices intended to delay or avoid disclosure of the Bank’s asset quality at the time of and following the United States Treasury’s purchase of preferred shares from the Company in

November

2008.

The Bank has cooperated with all requests for information from the DOJ. As of the date of this report, the DOJ has made no determination whether to pursue any action in the matter.

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Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation – The consolidated financial statements include Porter Bancorp, Inc. (Company) and its subsidiary, PBI Bank (Bank). The Company owns a 100% interest in the Bank. All significant inter-company transactions and accounts have been eliminated in consolidation. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10 -Q and Rule 10 - 01 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the entire year. A description of other significant accounting policies is presented in the notes to the Consolidated Financial Statements for the year ended December 31, 2016 included in the Company’s Annual Report on Form 10 -K.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates – To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ.
Reclassification, Policy [Policy Text Block]	Reclassifications – Some items in the prior year financial statements were reclassified to conform to the current presentation. The reclassifications did not impact net income or stockholders’ equity.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards – In August 2015, FASB issued ASU 2015 - 14, Revenue from Contracts with Customers (Topic 606). This ASU is an update to ASU 2014 - 09, and delays the effective date of ASU 2014 - 09. The ASU provides guidance on revenue recognition for entities that enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additional disclosures are required to provide quantitative and qualitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. Early adoption is not permitted. Based on types of products we offer, a significant portion of the Company's revenue is scoped out of the standard. Therefore, adoption of this new guidance will not have a material impact on the consolidated financial statements. In January 2016, the FASB issued an update ASU No. 2016 - 01, Financial Instruments - Overall (Subtopic 825 - 10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this update impact public business entities as follows: 1) Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. 2) Simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3) Eliminate the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4) Require entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5) Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6) Require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7) Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. The impact of adopting the new guidance on the consolidated financial statements is not expected to have a material impact. In February 2016, the FASB issued an update ASU No. 2016 - 02, Leases (Topic 842). Under the new guidance, lesse es will be required to recognize the following for all leases, with the exception of short-term leases, at the commencement date: a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting in largely unchanged. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2018. The impact of adopting the new guidance on the consolidated financial statements will not have a material impact. In June 2016, the FASB issued ASU No. 2016 - 13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The final standard will change estimates for credit losses related to financial assets measured at amortized cost such as loans, held-to-maturity debt securities, and certain other contracts. For estimating credit losses, the FASB is replacing the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (CECL) model. The largest impact will be on the allowance for loan and lease losses and held-to-maturity securities. The standard is effective for public companies for fiscal years beginning after December 15, 2019. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements and assessing our data and systems needs. In March 2017, the FASB issued ASU No. 2017 - 08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310 - 20): Premium Amortization of Purchased Callable Debt Securities. The final standard will shorten the amortization period for premiums on callable debt securities by requiring that premiums be amortized to the first (or earliest) call date instead of as an adjustment to the yield over the contractual life. The standard is effective for public companies for fiscal years beginning after December 15, 2018. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements.

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Note 2 - Securities (Tables)

3 Months Ended

Mar. 31, 2017

Marketable Securities [Table Text Block]

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(i n thousands)
March 31, 201 7
Available for sale
U.S. Government and federal agency	$	33,434	$	94	$	(489	)	$	33,039
Agency mortgage-backed: residential		99,251		701		(1,035	)		98,917
Collateralized loan obligations		18,868		13		—			18,881
State and municipal		2,028		19		(2	)		2,045
Corporate bonds		3,072		47		—			3,119
Tota l available for sale	$	156,653	$	874	$	(1,526	)	$	156,001

	Amortized Cost		Gross Unre cognized Gains		Gross Unre cognized Losses			Fair Value
Held to maturity
State and municipal	$	41,752	$	1,719	$	(2	)	$	43,469
Total held to maturity	$	41,752	$	1,719	$	(2	)	$	43,469

December 31, 201 6	Amortized Cost		Gross Unre alized Gains		Gross Unre alized Losses			Fair Value
Available for sale
U.S. Government and federal agency	$	34,757	$	50	$	(708	)	$	34,099
Agency mortgage-backed: residential		103,390		455		(1,492	)		102,353
Collateralized loan obligations		11,203		—		—			11,203
State and municipal		2,028		25		(8	)		2,045
Corporate bonds		3,069		24		(3	)		3,090
Total available for sale	$	154,447	$	554	$	(2,211	)	$	152,790

	Amortized Cost		Gross Unre cognized Gains		Gross Unre cognized Losses			Fair Value
Held to maturity
State and municipal	$	41,818	$	1,272	$	(18	)	$	43,072
Total held to maturity	$	41,818	$	1,272	$	(18	)	$	43,072

Schedule of Realized Gain (Loss) [Table Text Block]

	Three Months Ended March 31,
	201 7		201 6
	(in thousands)

Proceeds	$	—	$	3,486
Gross gains		—		203
Gross losses		—		—

Investments Classified by Contractual Maturity Date [Table Text Block]

	March 31 , 201 7
	Amortized Cost		Fair Value
	(in thousands)
Maturity
Available for sale
Within one year	$	4,899	$	4,926
One to five years		7,780		7,831
Five to ten years		30,943		30,540
Beyond ten years		13,780		13,787
Agency mortgage-backed: residential		99,251		98,917
Total	$	156,653	$	156,001

Held to maturity
Within one year		645		647
One to five years	$	24,177	$	25,034
Five to ten years		16,930		17,788
Total	$	41,752	$	43,469

Schedule of Unrealized Loss on Investments [Table Text Block]

	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
	(in thousands)
March 31, 201 7
Available for sale
U.S. Government and federal Agency	$	24,796	$	(489	)	$	—	$	—		$	24,796	$	(489	)
Agency mortgage-backed: residential		40,580		(975	)		3,908		(60	)		44,488		(1,035	)
State and municipal		470		(2	)		—		—			470		(2	)
Total temporarily impaired	$	65,846	$	(1,466	)	$	3,908	$	(60	)	$	69,754	$	(1,526	)

Held to maturity
State and municipal	$	558	$	(2	)	$	—	$	—		$	558	$	(2	)
Total	$	558	$	(2	)	$	—	$	—		$	558	$	(2	)


December 31, 201 6
Available for sale
U.S. Government and federal agency	$	27,738	$	(708	)	$	—	$	—		$	27,738	$	(708	)
Agency mortgage-backed: residential		63,460		(1,449	)		2,745		(43	)		66,205		(1,492	)
State and municipal		465		(8	)		—		—			465		(8	)
Corporate bonds		—		—			1,566		(3	)		1,566		(3	)
Total temporarily impaired	$	91,663	$	(2,165	)	$	4,311	$	(46	)	$	95,974	$	(2,211	)

Held to maturity
State and municipal	$	1,540	$	(18	)	$	—	$	—		$	1,540	$	(18	)
Total	$	1,540	$	(18	)	$	—	$	—		$	1,540	$	(18	)

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Note 3 - Loans (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	March 31 ,			December 31,
	201 7			201 6
	(in thousands)
Commercial	$	104,850		$	97,761
Commercial Real Estate:
Construction		41,424			36,330
Farmland		83,252			71,507
Nonfarm nonresidential		151,921			149,546
Residential Real Estate:
Multi-family		49,350			48,197
1-4 Family		185,866			188,092
Consumer		9,542			9,818
Agriculture		37,515			37,508
Other		463			477
Subtotal		664,183			639,236
Less: Allowance for loan losses		(8,966	)		(8,967	)
Loans, net	$	655,217		$	630,269

Allowance for Credit Losses on Financing Receivables [Table Text Block]

	Commercial			Commercial Real Estate			Residential Real Estate			Consumer			Agriculture			Other			Total
	(in thousands)
March 31, 201 7 :
Beginning balance	$	475		$	4,894		$	3,426		$	8		$	162		$	2		$	8,967
P rovision (negative provision)		334			(866	)		394			4			138			(4	)		–
Loans charged off		–			(27	)		(294	)		(5	)		–			–			(326	)
Recoveries		5			241			43			25			7			4			325
Ending balance	$	814		$	4,242		$	3,569		$	32		$	307		$	2		$	8,966


March 31, 2016 :
Beginning balance	$	818		$	6,993		$	3,984		$	122		$	122		$	2		$	12,041
P rovision (negative provision)		(199	)		(375	)		129			(33	)		(65	)		(7	)		(550	)
Loans charged off		(12	)		(118	)		(595	)		(13	)		–			(11	)		(749	)
Recoveries		35			263			165			39			79			17			598
Ending balance	$	642		$	6,763		$	3,683		$	115		$	136		$	1		$	11,340

Impairment Evaluation of Financing Receivables [Table Text Block]

	Commercial		Commercial Real Estate		Residential Real Estate		Consumer		Agriculture		Other		Total
	(in thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	13	$	33	$	285	$	–	$	1	$	–	$	332
Collectively evaluated for impairment		801		4,209		3,284		32		306		2		8,634
Total ending allowance balance	$	814	$	4,242	$	3,569	$	32	$	307	$	2	$	8,966

Loans:
Loans individually evaluated for impairment	$	593	$	4,837	$	4,394	$	7	$	60	$	–	$	9,891
Loans collectively evaluated for impairment		104,257		271,760		230,822		9,535		37,455		463		654,292
Total ending loans balance	$	104,850	$	276,597	$	235,216	$	9,542	$	37,515	$	463	$	664,183

	Commercial		Commercial Real Estate		Residential Real Estate		Consumer		Agriculture		Other		Total
	(in thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	13	$	35	$	350	$	–	$	1	$	–	$	399
Collectively evaluated for impairment		462		4,859		3,076		8		161		2		8,568
Total ending allowance balance	$	475	$	4,894	$	3,426	$	8	$	162	$	2	$	8,967


Loans:
Loans individually evaluated for impairment	$	595	$	5,854	$	8,621	$	1	$	60	$	–	$	15,131
Loans collectively evaluated for impairment		97,166		251,529		227,668		9,817		37,448		477		624,105
Total ending loans balance	$	97,761	$	257,383	$	236,289	$	9,818	$	37,508	$	477	$	639,236

Impaired Financing Receivables [Table Text Block]

	As of March 31, 201 7						T hree Months Ended March 31, 201 7
	Unpaid Principal Balance		Recorded Investment		Allowance For Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
	(in thousands)
With No Related Allowance Recorded:
Commercial	$	704	$	493	$	—	$	494	$	—	$	—
Commercial real estate:
Construction		—		—		—		—		—		—
Farmland		4,421		2,786		—		3,264		206		206
Nonfarm nonresidential		1,868		1,165		—		1,192		32		30
Residential real estate:
Multi-family		—		—		—		2,050		—		—
1-4 Family		4,664		2,968		—		2,938		8		8
Consumer		47		7		—		4		—		—
Agriculture		—		—		—		—		—		—
Other		—		—		—		—		—		—
Subtotal		11,704		7,419		—		9,942		246		244

With An Allowance Recorded:
Commercial		100		100		13		100		2		—
Commercial real estate:
Construction		—		—		—		—		—		—
Farmland		610		586		5		588		—		—
Nonfarm nonresidential		300		300		28		301		4		—
Residential real estate:
Multi-family		—		—		—		—		—		—
1-4 Family		1,426		1,426		285		1,519		17		—
Consumer		—		—		—		—		—		—
Agriculture		78		60		1		60		—		—
Other		—		—		—		—		—		—
Subtotal		2,514		2,472		332		2,568		23		—
Total	$	14,218	$	9,891	$	332	$	12,510	$	269	$	244

	As of December 31, 201 6						T hree Months Ended March 31, 201 6
	Unpaid Principal Balance		Recorded Investment		Allowance For Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
	(in thousands)
With No Related Allowance Recorded:
Commercial	$	707	$	495	$	—	$	987	$	1	$	1
Commercial real estate:
Construction		—		—		—		261		3		—
Farmland		5,566		3,742		—		4,194		6		5
Nonfarm nonresidential		4,502		1,219		—		7,116		248		190
Residential real estate:
Multi-family		4,100		4,100		—		1,216		30		1
1-4 Family		4,663		2,910		—		8,795		58		6
Consumer		41		1		—		14		7		8
Agriculture		—		—		—		115		—		—
Other		—		—		—		—		—		—
Subtotal		19,579		12,467		—		22,698		353		211
With An Allowance Recorded:
Commercial		100		100		13		—		—		—
Commercial real estate:
Construction		—		—		—		—		—		—
Farmland		614		590		5		—		—		—
Nonfarm nonresidential		303		303		30		438		6		—
Residential real estate:
Multi-family		—		—		—		4,186		50		—
1-4 Family		1,676		1,611		350		1,684		20		—
Consumer		—		—		—		—		—		—
Agriculture		78		60		1		—		—		—
Other		—		—		—		—		—		—
Subtotal		2,771		2,664		399		6,308		76		—
Total	$	22,350	$	15,131	$	399	$	29,006	$	429	$	211

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

	TDRs Performing to Modified Terms		TDRs Not Performing to Modified Terms		Total TDRs
	(in thousands)
March 31 , 201 7
Commercial
Rate reduction	$	—	$	33	$	33
Principal deferral		—		434		434
Commercial Real Estate:
Farmland
Principal deferral		—		2,300		2,300
Nonfarm nonresidential
Rate reduction		501		—		501
Principal deferral		—		607		607
Residential Real Estate:
1-4 Family
Rate reduction		743		—		743
Total TDRs	$	1,244	$	3,374	$	4,618

	TDRs Performing to Modified Terms		TDRs Not Performing to Modified Terms		Total TDRs
	(in thousands)
December 31, 201 6
Commercial
Rate reduction	$	—	$	33	$	33
Principal deferral		—		434		434
Commercial Real Estate:
Farmland
Principal deferral		—		2,300		2,300
Nonfarm nonresidential
Rate reduction		507		—		507
Principal deferral		—		607		607
Residential Real Estate:
Multi-family
Rate reduction		4,100		—		4,100
1-4 Family
Rate reduction		743		—		743
Total TDRs	$	5,350	$	3,374	$	8,724

Schedule of Financing Receivables, Non Accrual Status [Table Text Block]

	Nonaccrual				Loans Past Due 90 Days And Over Still Accruing
	March 31 , 201 7		December 31, 201 6		March 31 , 201 7		December 31, 201 6
	(in thousands)

Commercial	$	493	$	495	$	—	$	—
Commercial Real Estate:
Construction		—		—		—		—
Farmland		3,372		4,332		—		—
Nonfarm nonresidential		964		1,016		—		—
Residential Real Estate:
Multi-family		—		—		—		—
1-4 Family		3,206		3,312		—		—
Consumer		7		1		—		—
Agriculture		60		60		—		—
Other		—		—		—		—
Total	$	8,102	$	9,216	$	—	$	—

Past Due Financing Receivables [Table Text Block]

	30 – 59 Days Past Due		60 – 89 Days Past Due		90 Days And Over Past Due		Nonaccrual		Total Past Due And Nonaccrual
	(in thousands)
March 31, 201 7
Commercial	$	—	$	—	$	—	$	493	$	493
Commercial Real Estate:
Construction		—		—		—		—		—
Farmland		262		4		—		3,372		3,638
Nonfarm nonresidential		—		—		—		964		964
Residential Real Estate:
Multi-family		—		—		—		—		—
1-4 Family		691		281		—		3,206		4,178
Consumer		6		4		—		7		17
Agriculture		13		—		—		60		73
Other		—		—		—		—		—
Total	$	972	$	289	$	—	$	8,102	$	9,363

	30 – 59 Days Past Due		60 – 89 Days Past Due		90 Days And Over Past Due		Nonaccrual		Total Past Due And Nonaccrual
	(in thousands)
December 31, 201 6
Commercial	$	—	$	—	$	—	$	495	$	495
Commercial Real Estate:
Construction		—		—		—		—		—
Farmland		626		—		—		4,332		4,958
Nonfarm nonresidential		—		59		—		1,016		1,075
Residential Real Estate:
Multi-family		—		—		—		—		—
1-4 Family		1,454		256		—		3,312		5,022
Consumer		19		—		—		1		20
Agriculture		203		—		—		60		263
Other		—		—		—		—		—
Total	$	2,302	$	315	$	—	$	9,216	$	11,833

Financing Receivable Credit Quality Indicators [Table Text Block]

	Pass		Watch		Special Mention		Substandard		Doubtful		Total
	(in thousands)
March 31, 201 7
Commercial	$	103,597	$	293	$	—	$	960	$	—	$	104,850
Commercial Real Estate:
Construction		40,927		497		—		—		—		41,424
Farmland		76,161		1,335		—		5,756		—		83,252
Nonfarm nonresidential		146,628		3,221		441		1,631		—		151,921
Residential Real Estate:
Multi-family		39,536		5,991		—		3,823		—		49,350
1-4 Family		173,463		5,521		51		6,831		—		185,866
Consumer		9,130		314		—		98		—		9,542
Agriculture		27,456		9,270		—		789		—		37,515
Other		463		—		—		—		—		463
Total	$	617,361	$	26,442	$	492	$	19,888	$	—	$	664,183

	Pass		Watch		Special Mention		Substandard		Doubtful		Total
	(in thousands)
December 31, 201 6
Commercial	$	96,402	$	294	$	—	$	1,065	$	—	$	97,761
Commercial Real Estate:
Construction		35,823		507		—		—		—		36,330
Farmland		63,323		1,521		—		6,663		—		71,507
Nonfarm nonresidential		142,222		5,217		445		1,662		—		149,546
Residential Real Estate:
Multi-family		38,281		6,080		—		3,836		—		48,197
1-4 Family		173,565		6,909		52		7,566		—		188,092
Consumer		9,397		348		—		73		—		9,818
Agriculture		26,940		9,555		—		1,013		—		37,508
Other		477		—		—		—		—		477
Total	$	586,430	$	30,431	$	497	$	21,878	$	—	$	639,236

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Note 4 - Other Real Estate Owned (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Real Estate Properties [Table Text Block]

	March 31, 2017		December 31, 201 6
	(in thousands)
Commercial Real Estate:
Construction	$	6,571	$	6,571
Residential Real Estate:
1-4 Family		—		250
	$	6,571	$	6,821

Schedule of Expenses Related to Foreclosed Real Estate [Table Text Block]

	For the Three Months Ended March 31,
	201 7			201 6
	(in thousands)
OREO Activity
OREO as of January 1	$	6,821		$	19,214
Real estate acquired		100			441
Valuation adjustment write-downs		—			(500	)
Net gain on sales		38			55
Proceeds from sale s of properties		(388	)		(1,349	)
OREO as of March 31	$	6,571		$	17,861

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

	For the Three Months Ended March 31 ,
	201 7			201 6
	(in thousands)
Net gain on sales	$	(38	)	$	(55	)
Valuation adjustment write-downs		—			500
Operating expense		22			223
Total	$	(16	)	$	668

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Note 5 - Deposits (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Deposits [Table Text Block]

	March 31 , 201 7		December 31, 201 6
	(in thousands)
Non-interest bearing	$	127,049	$	124,395
Interest checking		104,811		103,876
Money market		122,434		142,497
Savings		36,380		34,518
Certificates of deposit		470,029		444,639
Total	$	860,703	$	849,925

Schedule of Maturities of Time Deposits [Table Text Block]

Year 1	$	225,126
Year 2		155,900
Year 3		61,411
Year 4		21,374
Year 5		6,218
	$	470,029

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Note 6 - Advances From the Federal Home Loan Bank (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block]

	March 31,		December 31,
	201 7		201 6
	(in thousands)
A dvances with fixed rates from 0.00% to 5.25% and maturities ranging from 2 017 through 2033, averaging 1.04% at March 31, 2017 and 0.85% at December 31, 2016	$	17,313	$	22,458

Schedule of Maturities of Long-term Debt [Table Text Block]

	Advances
Year 1	$	15,528
Year 2		226
Year 3		508
Year 4		762
Year 5		109
Thereafter		180
	$	17,313

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Note 7 - Fair Values Measurement (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

			Fair Value Measurements at March 31, 201 7 Using
			(in thousands)
	Carrying		Quoted Prices In Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	Value		(Level 1)		(Level 2)		(Level 3)
Available for sale securities
U.S. Government and federal agency	$	33,039	$	—	$	33,039	$	—
Agency mortgage-backed: residential		98,917		—		98,917		—
Collateralized loan obligations		18,881		—		18,881		—
State and municipal		2,045		—		2,045		—
Corporate bonds		3,119		—		3,119		—
Total	$	156,001	$	—	$	156,001	$	—

			Fair Value Measurements at December 31, 201 6 Using
			(in thousands)
Description	Carrying Value		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities
U.S. Government and federal agency	$	34,099	$	—	$	34,099	$	—
Agency mortgage-backed: residential		102,353		—		102,353		—
Collateralized loan obligations		11,203		—		11,203		—
State and municipal		2,045		—		2,045		—
Corporate bonds		3,090		—		3,090		—
Total	$	152,790	$	—	$	152,790	$	—

			Fair Value Measurements at March 31, 201 7 Using
			(in thousands)
Description	Carrying Value		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans:
Commercial	$	87	$	—	$	—	$	87
Commercial real estate:
Construction		—		—		—		—
Farmland		581		—		—		581
Nonfarm nonresidential		—		—		—		—
Residential real estate:
Multi-family		—		—		—		—
1-4 Family		1,141		—		—		1,141
Consumer		—		—		—		—
Agriculture		59		—		—		59
Other		—		—		—		—
Other real estate owned, net:
Commercial real estate:
Construction		6,571		—		—		6,571
Farmland		—		—		—		—
Nonfarm nonresidential		—		—		—		—
Residential real estate:
Multi-family		—		—		—		—
1-4 Family		—		—		—		—

			Fair Value Measurements at December 31, 201 6 Using
			(in thousands)
Description	Carrying Value		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans:
Commercial	$	87	$	—	$	—	$	87
Commercial real estate:
Construction		—		—		—		—
Farmland		585		—		—		585
Nonfarm nonresidential		—		—		—		—
Residential real estate:
Multi-family		—		—		—		—
1-4 Family		1,261		—		—		1,261
Consumer		—		—		—		—
Agriculture		59		—		—		59
Other		—		—		—		—
Other real estate owned, net:
Commercial real estate:
Construction		6,571		—		—		6,571
Farmland		—		—		—		—
Nonfarm nonresidential		—		—		—		—
Residential real estate:
Multi-family		—		—		—		—
1-4 Family		250		—		—		250

Fair Value Assets Measured on Nonrecurring Basis Unobservable Input Reconciliation [Table Text Block]

	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
	(in thousands )

Impaired loans – Residential real estate	$	1,141	Sales comparison approach	Adjustment for differences between the comparable sales		0%	-	22%	(9%)

Other real estate owned – Commercial real estate	$	6,571	Sales comparison approach	Adjustment for differences between the comparable sales		0%	-	20%	(9%)

			Income approach	Discount or capitalization rate		18%	-	20%	(19%)

	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
	(in thousands)

Impaired loans – Residential real estate	$	1,261	Sales comparison approach	Adjustment for differences between the comparable sales		0%	-	22%	(9%)

Other real estate owned – Commercial real estate	$	6,571	Sales comparison approach	Adjustment for differences between the comparable sales		0%	-	20%	(9%)

			Income approach	Discount or capitalization rate		18%	-	20%	(19%)

Fair Value, by Balance Sheet Grouping [Table Text Block]

			Fair Value Measurements at March 31, 201 7 Using
	Carrying Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
Financial assets
Cash and cash equivalents	$	37,785	$	36,094	$	1,691	$	—	$	37,785
Securities available for sale		156,001		—		156,001		—		156,001
Securities held to maturity		41,752		—		43,469		—		43,469
Federal Home Loan Bank stock		7,323		N/A		N/A		N/A		N/A
L oans held for sale		—		—		—		—		—
Loans, net		655,217		—		—		652,746		652,746
Accrued interest receivable		3,100		—		1,123		1,977		3,100
Financial liabilities
Deposits	$	860,703	$	127,049	$	720,593	$	—	$	847,642
Federal Home Loan Bank advances		17,313		—		17,338		—		17,338
Subordinated capital notes		2,925		—		—		2,846		2,846
Junior subordinated debentures		21,000		—		—		16,263		16,263
Accrued interest payable		902		—		362		540		902

			Fair Value Measurements at December 31, 201 6 Using
	Carrying Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
Financial assets
Cash and cash equivalents	$	66,316	$	31,091	$	35,225	$	—	$	66,316
Securities available for sale		152,790		—		152,790		—		152,790
Securities held to maturity		41,818		—		43,072		—		43,072
Federal Home Loan Bank stock		7,323		N/A		N/A		N/A		N/A
Loans held for sale		—		—		—		—		—
Loans, net		630,269		—		—		632,528		632,528
Accrued interest receivable		3,137		—		1,203		1,934		3,137
Financial liabilities
Deposits	$	849,925	$	124,395	$	712,458	$	—	$	836,853
Federal Home Loan Bank advances		22,458		—		22,475		—		22,475
Subordinated capital notes		3,150		—		—		3,091		3,091
Junior subordinated debentures		21,000		—		—		13,263		13,263
Accrued interest payable		734		—		369		365		734

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Note 8 - Income Taxes (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	March 31,			December 31,
	201 7			201 6
	(in thousands)
Deferred tax assets:
Net operating loss carry-forward	$	44,630		$	42,094
Allowance for loan losses		3,138			3,139
Other real estate owned write-down		3,366			3,366
Alternative minimum tax credit carry-forward		692			692
Net assets from acquisitions		655			674
Net unrealized loss on securities		504			867
New market tax credit carry-forward		208			208
Nonaccrual loan interest		487			481
Accrued e xpenses		241			3,860
Other		773			825
		54,694			56,206

Deferred tax liabilities:
FHLB stock dividends		928			928
Fixed assets		84			89
Other		416			1,140
		1,428			2,157
Net deferred tax assets before valuation allowance		53,266			54,049
Valuation allowance		(53,266	)		(54,049	)
Net deferred tax asset	$	—		$	—

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Note 9 - Stock Plans and Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Nonvested Share Activity [Table Text Block]

	Three Months Ended					Twelve Months Ended
	March 31 , 201 7					December 31, 201 6
				Weighted					Weighted
				Average					Average
				Grant					Grant
	Shares			Price		Shares			Price
Outstanding, beginning		179,513		$	4.89		184,482		$	4.81
Granted		22,787			9.44		35,465			9.10
Vested		(53,335	)		4.45		(38,462	)		8.32
Forfeited		—			—		(1,972	)		6.16
Outstanding, ending		148,965		$	5.74		179,513		$	4.89

Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]

April 201 7 – December 2017	$	199
201 8		262
201 9		102
20 20 & thereafter		25

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Note 10 - Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended
	March 31 ,
	201 7		201 6
	(in thousands, except share and per share data)

Net income	$	1,680	$	1,480
Less:
Earnings allocated to unvested shares		44		51
Net income available to common shareholders, basic and diluted	$	1,636	$	1,429

Basic
Weighted average common shares including unvested common shares outstanding		6,227,265		5,389,062
Less:
Weighted average unvested common shares		164,239		183,996
Weighted average common shares outstanding		6,063,026		5,205,066
Basic income per common share	$	0.27	$	0.27

Diluted
Add: Dilutive effects of assumed exercises of common stock warrants		—		—
Weighted average common shares and potential common shares		6,063,026		5,205,066
Diluted income per common share	$	0.27	$	0.27

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Note 11 - Capital Requirements and Restrictions of Retained Earnings (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]

	Actual					Regulatory Minimums for Capital Adequacy Purposes
	Amount		Ratio			Amount		Ratio
As of March 31, 201 7 :
Total risk-based capital (to risk- weighted assets)
Consolidated	$	72,920		10.15	%	$	57,457		8.00	%
Bank		70,957		9.89			57,402		8.00
Total common equity Tier 1 risk- based capital (to risk weighted assets)
Consolidated		37,978		5.29			32,319		4.50
Bank		59,786		8.33			32,289		4.50
Tier I capital (to risk-weighted assets)
Consolidated		50,936		7.09			43,093		6.00
Bank		59,786		8.33			43,052		6.00
Tier I capital (to average assets)
Consolidated		50,936		5.43			37,553		4.00
Bank		59,786		6.37			37,525		4.00

	Actual					Regulatory Minimums f or Capital Adequacy Purposes
	Amount		Ratio			Amount		Ratio
As of December 31, 201 6 :
Total risk-based capital (to risk- weighted assets)
Consolidated	$	71,109		10.21	%	$	55,714		8.00	%
Bank		68,773		9.88			55,663		8.00
Total common equity Tier 1risk- based capital (to risk weighted assets)
Consolidated		36,199		5.20			31,339		4.50	%
Bank		57,642		8.28			31,311		4.50
Tier I capital (to risk-weighted assets)
Consolidated		48,713		6.99			41,786		6.00
Bank		57,642		8.28			41,747		6.00
Tier I capital (to average assets)
Consolidated		48,713		5.27			36,975		4.00
Bank		57,642		6.24			36,949		4.00

Banker's Acceptance Disclosures [Table Text Block]

	Actual as of March 31, 201 7					Ratio Required by Consent Order
	Amount		Ratio			Amount		Ratio

Total capital to risk-weighted assets	$	70,957		9.89	%	$	86,103		12.00	%
Tier I capital to average assets		59,786		6.37			84,431		9.00

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Note 12 - Off Balance Sheet Risks, Commitments, and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2017