10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.

FORM 10 – Q/A

Amendment No. 1

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2015

Commission file number: 333-200112

BUSINESS FIRST BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

For the transition period from              to             

Louisiana	20-5340628
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)
Business First Bank Plaza 8440 Jefferson Highway, Suite 101 Baton Rouge, Louisiana 70809	70809
(Address of principal executive offices)	(Zip Code)

(Registrant’s telephone number, including area code: (225) 248-7600

Indicate by check mark whether the registrant: (i) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (ii) has been subject to such filing requirements for the past 90 days.    Yes  ¨    No  x

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    Yes  ¨    No  x

As of May 15, 2015 the issuer has 7,193,098 shares of common stock outstanding.

EXPLANATORY NOTE

This Amendment No. 1 to Quarterly Report on Form 10-Q/A (this “Amended Report”) is filed with the Securities and Exchange Commission to amend the Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015 (the “Original 10-Q”) of Business First Bancshares, Inc., solely to furnish XBRL (eXtensible Business Reporting Language) documents under Exhibit 101. As permitted by Rule 405(a)(2)(ii) of Regulation S-T, Exhibit 101 was required to be filed by amendment within 30 days of the original filing date of the Original 10-Q.

Except for the foregoing, this Amended Report speaks as of the filing date of the Original 10-Q and does not update or discuss any other developments after the date of the Original 10-Q. This Amended Report restates only those portions of the Original 10-Q affected by the above changes.

Item 6. Exhibits

Number	Description
3.1	Amended and Restated Articles of Incorporation of Business First Bancshares, Inc.(1)
3.2	Bylaws of Business First Bancshares, Inc.(2)
4.1	Specimen common stock certificate(3)
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
32.1	Certifications of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document

* Previously filed with Business First’s Form 10-Q for the period ended March 31, 2015, which was filed with the Securities and Exchange Commission on May 15, 2015.

** Filed herewith in accordance with the 30-day grace period provided by Rule 405(a)(2) of Regulation S-T.

(1) Incorporated by reference from Exhibit 3.1 to Business First’s Registration Statement on Form S-4 filed on November 12, 2014.

(2) Incorporated by reference from Exhibit 3.2 to Business First’s Registration Statement on Form S-4 filed on November 12, 2014.

(3) Incorporated by reference from Exhibit 4.1 to Business First’s Registration Statement on Form S-4 filed on November 12, 2014.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant hereby duly caused this Amended Report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BUSINESS FIRST BANCSHARES, INC.
May 27, 2015	/s/ David R. Melville, III
	David R. Melville, III
	President and Chief Executive Officer
May 27, 2015	/s/ Steven Champney
	Steven Champney
	Chief Financial Officer

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Fair Value of Financial Instruments - Bank Records Repossessed Assets as Level 2 (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 13,708	$ 14,350
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	10,751	11,322
Repossessed Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	2,957	3,028
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	13,708	14,350
Significant Other Observable Inputs (Level 2) [Member] | Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	10,751	11,322
Significant Other Observable Inputs (Level 2) [Member] | Repossessed Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 2,957	$ 3,028

XML

Loans and the Allowance for Loan Losses - Summary of Loans Receivable (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	$ 579,580	$ 558,386
Allowance for loan losses	(6,825)	(6,632)	(6,043)
Net loans	572,755	551,754
Construction and Land [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	65,860	61,062
Farmland [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	17,593	16,097
1-4 Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	43,345	41,552
Allowance for loan losses	(791)	(775)	(836)
Multi-family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	11,291	11,369
Nonfarm Nonresidential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	226,196	215,797
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	185,179	185,291
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	30,116	27,218
Allowance for loan losses	$ (409)	$ (325)	$ (271)

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Reclassifications

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Reclassifications

Note 2 – Reclassifications –

Certain reclassifications may have been made to conform to the classifications adopted for reporting in 2015. These reclassifications have no effect on previously reported net income.

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Loans and the Allowance for Loan Losses - Summary of Information Pertaining to Impaired Loans (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment, with an allowance recoded	$ 1,406	$ 1,469
Unpaid Principal Balance, with an allowance recorded	1,406	1,469
Related Allowance	505	546
Average Recorded Investment, with an allowance recorded	1,427	1,431
Recorded Investment, with no allowance recoded	9,850	10,399
Unpaid Principal Balance, with no allowance recorded	10,825	11,348
Average Recorded Investment, with no allowance recorded	9,966	12,022
Recorded Investment	11,256	11,868
Unpaid Principal Balance	12,231	12,817
Related Allowance	505	546
Average Recorded Investment	11,393	13,453
1-4 Family Residential [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment, with an allowance recorded		83
Recorded Investment, with no allowance recoded	873	977
Unpaid Principal Balance, with no allowance recorded	942	1,020
Average Recorded Investment, with no allowance recorded	907	1,090
Recorded Investment	873	977
Unpaid Principal Balance	942	1,020
Average Recorded Investment	907	1,173
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, with no allowance recoded	4,013	4,358
Unpaid Principal Balance, with no allowance recorded	4,919	5,264
Average Recorded Investment, with no allowance recorded	4,069	5,069
Recorded Investment	4,013	4,358
Unpaid Principal Balance	4,919	5,264
Average Recorded Investment	4,069	5,069
Construction and Land [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, with an allowance recoded	1,406	1,428
Unpaid Principal Balance, with an allowance recorded	1,406	1,428
Related Allowance	505	505
Average Recorded Investment, with an allowance recorded	1,413	1,345
Recorded Investment, with no allowance recoded	1,344	1,344
Unpaid Principal Balance, with no allowance recorded	1,344	1,344
Average Recorded Investment, with no allowance recorded	1,344	1,905
Recorded Investment	2,750	2,772
Unpaid Principal Balance	2,750	2,772
Related Allowance	505	505
Average Recorded Investment	2,757	3,250
Commercial [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, with an allowance recoded		41
Unpaid Principal Balance, with an allowance recorded		41
Related Allowance		41
Average Recorded Investment, with an allowance recorded	14	3
Recorded Investment, with no allowance recoded	3,595	3,673
Unpaid Principal Balance, with no allowance recorded	3,595	3,673
Average Recorded Investment, with no allowance recorded	3,610	3,753
Recorded Investment	3,595	3,714
Unpaid Principal Balance	3,595	3,714
Related Allowance		41
Average Recorded Investment	3,624	3,756
Consumer [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, with no allowance recoded	25	47
Unpaid Principal Balance, with no allowance recorded	25	47
Average Recorded Investment, with no allowance recorded	36	205
Recorded Investment	25	47
Unpaid Principal Balance	25	47
Average Recorded Investment	$ 36	$ 205

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Loans and the Allowance for Loan Losses - Summary of Aged Analysis of Past Due Loans Receivable (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due		$ 41
60-89 Days Past Due	0	0
Greater Than 90 Days Past Due	372	556
Total Past Due	372	597
Current	579,208	557,789
Total Loans Receivables	579,580	558,386
Recorded Investment Over 90 Days Past Due and Still Accruing		5
Construction and Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
60-89 Days Past Due	0	0
Greater Than 90 Days Past Due	182	182
Total Past Due	182	182
Current	65,678	60,880
Total Loans Receivables	65,860	61,062
Farmland [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
60-89 Days Past Due	0	0
Current	17,593	16,097
Total Loans Receivables	17,593	16,097
1-4 Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
60-89 Days Past Due	0	0
Greater Than 90 Days Past Due	59	63
Total Past Due	59	63
Current	43,286	41,489
Total Loans Receivables	43,345	41,552
Recorded Investment Over 90 Days Past Due and Still Accruing		5
Multi-family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
60-89 Days Past Due	0	0
Current	11,291	11,369
Total Loans Receivables	11,291	11,369
Nonfarm Nonresidential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
60-89 Days Past Due	0	0
Greater Than 90 Days Past Due	131	311
Total Past Due	131	311
Current	226,065	215,486
Total Loans Receivables	226,196	215,797
Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due		41
60-89 Days Past Due	0	0
Total Past Due		41
Current	185,179	185,250
Total Loans Receivables	185,179	185,291
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
60-89 Days Past Due	0	0
Current	30,116	27,218
Total Loans Receivables	$ 30,116	$ 27,218

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Loans and the Allowance for Loan Losses - Summary of Informative Data Regarding Loan Modifications (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Mar. 31, 2015 Contracts	Dec. 31, 2014 Contracts
Financing Receivable, Modifications [Line Items]
Number of Contracts	17	19
Pre-Modification Outstanding Recorded Investment	$ 14,154	$ 14,333
Post-Modification Outstanding Recorded	9,517	9,887
1-4 Family Residential [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts	4	5
Pre-Modification Outstanding Recorded Investment	1,388	1,519
Post-Modification Outstanding Recorded	871	973
Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts	5	5
Pre-Modification Outstanding Recorded Investment	7,201	7,201
Post-Modification Outstanding Recorded	3,883	4,047
Construction and Land [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts	1	1
Pre-Modification Outstanding Recorded Investment	1,586	1,586
Post-Modification Outstanding Recorded	1,162	1,162
Commercial [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts	5	6
Pre-Modification Outstanding Recorded Investment	3,840	3,888
Post-Modification Outstanding Recorded	3,576	3,658
Consumer [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts	2	2
Pre-Modification Outstanding Recorded Investment	139	139
Post-Modification Outstanding Recorded	$ 25	$ 47

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Fair Value of Financial Instruments - Additional Information (Detail) (USD $)	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Liabilities measured at fair value on a recurring basis	$ 0
Liabilities measured at fair value on a nonrecurring basis	$ 0

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Basis of Presentation

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Basis of Presentation

Note 1 – Basis of Presentation –

The unaudited consolidated financial statements include the accounts of Business First Bancshares, Inc. (the “Company” or Bancshares) and its wholly-owned subsidiary, Business First Bank (the Bank), and its wholly- owned subsidiary, Business First Insurance, LLC. The Bank operates in five full service locations and one loan production office in Louisiana (Baton Rouge, Shreveport, Covington, Lafayette, Lake Charles and Houma (LPO)). As a state bank, it is subject to regulation by the Office of Financial Institutions, State of Louisiana, and the Federal Deposit Insurance Corporation and undergoes periodic examinations by these agencies. The Company is regulated by the Federal Reserve and is also subject to periodic examinations.

In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the Company’s consolidated balance sheet, statement of income, comprehensive income, changes in stockholders’ equity and cash flows for the periods presented, and all such adjustments are of a normal recurring nature. All material intercompany transactions are eliminated. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the entire year.

These interim consolidated financial statements have been prepared according to the rules and regulations of the Securities and Exchange Commission and, therefore, certain information and footnote disclosures normally presented in accordance with accounting principles generally accepted in the United State of America (“U.S. GAAP”) have been omitted or abbreviated.

Preparation of financial statements in conformity with U.S. GAAP requires management make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Estimates are used in accounting for, among other items, the allowance for loan losses, useful lives for depreciation and amortization, fair value of financial instruments, deferred taxes, and contingencies. Estimates that are particularly susceptible to significant change for the Company include the determination of the allowance for loan losses and the assessment of deferred tax assets and liabilities, and therefore are critical accounting policies. Management does not anticipate any material changes to estimates in the near term. Factors that may cause sensitivity to the aforementioned estimates include but are not limited to: external market factors such as market interest rates and employment rates, changes to operating policies and procedures, economic conditions in our markets, and changes in applicable banking regulations. Actual results may ultimately differ from estimates, although management does not generally believe such differences would materially affect the consolidated financial statements in any individual reporting period presented.

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Fair Value of Financial Instruments - Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	$ 89,428	$ 74,503
U.S. Government Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	11,352	9,142
Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	8,624
Mortgage - Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	34,760	34,026
Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	34,081	30,660
Other Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	611	675
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	89,428	74,503
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	89,428	74,503
Fair Value, Measurements, Recurring [Member] | U.S. Government Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	11,352	9,142
Fair Value, Measurements, Recurring [Member] | Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	8,624
Fair Value, Measurements, Recurring [Member] | Mortgage - Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	34,760	34,026
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	34,081	30,660
Fair Value, Measurements, Recurring [Member] | Other Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	611	675
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	89,428	74,503
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	11,352	9,142
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	8,624
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage - Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	34,760	34,026
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Municipal Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	34,081	30,660
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	$ 611	$ 675

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
ASSETS
Cash and Due from Banks	$ 31,483	$ 26,015
Federal Funds Sold	8,479	817
Securities Available for Sale, at Fair Values	89,428	74,503
Loans and Lease Receivable, Net of Allowance for Loan Losses of $6,825 at March 31, 2015 and $6,632 at December 31, 2014	572,755	551,754
Premises and Equipment, Net	2,050	2,180
Accrued Interest Receivable	1,691	1,772
Other Equity Securities	3,693	1,799
Other Real Estate Owned	2,957	3,028
Cash Value of Life Insurance	17,513	17,376
Other Assets	4,848	5,258
Total Assets	734,897	684,502
Deposits:
Noninterest Bearing	119,383	108,965
Interest Bearing	506,263	478,287
Total Deposits	625,646	587,252
Federal Home Loan Bank Borrowings	25,000	15,000
Accrued Interest Payable	401	416
Other Liabilities	3,327	2,989
Total Liabilities	654,374	605,657
STOCKHOLDERS' EQUITY
Common Stock, $1 Par Value; 10,000,000 Shares Authorized; 5,314,925 Shares Issued at March 31, 2015 and December 31, 2014	5,315	5,315
Additional Paid-in Capital	57,346	57,225
Retained Earnings	18,081	16,948
Accumulated Other Comprehensive Loss	(219)	(643)
Total Stockholders' Equity	80,523	78,845
Total Liabilities and Stockholders' Equity	$ 734,897	$ 684,502

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Consolidated Statements of Changes in Stockholders' Equity (USD $) In Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2013	$ 71,923	$ 5,315	$ 56,740	$ 12,915	$ (3,047)
Net Income	1,139			1,139
Other Comprehensive Income (Loss)	1,107				1,107
Stock Based Compensation Cost	125		125
Ending balance at Mar. 31, 2014	74,294	5,315	56,865	14,054	(1,940)
Beginning Balance at Dec. 31, 2014	78,845	5,315	57,225	16,948	(643)
Net Income	1,133			1,133
Other Comprehensive Income (Loss)	424				424
Stock Based Compensation Cost	121		121
Ending balance at Mar. 31, 2015	$ 80,523	$ 5,315	$ 57,346	$ 18,081	$ (219)

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Other Matters - Additional Information (Detail) (American Gateway Financial Corporation [Member])	Mar. 31, 2015 Branches
American Gateway Financial Corporation [Member]
Business Acquisition [Line Items]
Number of branches	11

XML

Securities - Amortized Cost and Fair Values of Securities Available for Sale (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 89,759	$ 75,477
Gross Unrealized Gains	768	644
Gross Unrealized Losses	1,099	1,618
Fair Value	89,428	74,503
U.S. Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	11,336	9,260
Gross Unrealized Gains	36	31
Gross Unrealized Losses	20	149
Fair Value	11,352	9,142
Corporate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	8,637
Gross Unrealized Gains	17
Gross Unrealized Losses	30
Fair Value	8,624
Mortgage - Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	35,068	34,591
Gross Unrealized Gains	75	51
Gross Unrealized Losses	383	616
Fair Value	34,760	34,026
Municipal Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	33,596	30,324
Gross Unrealized Gains	640	562
Gross Unrealized Losses	155	226
Fair Value	34,081	30,660
Other Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,122	1,302
Gross Unrealized Losses	511	627
Fair Value	$ 611	$ 675

XML

Securities - Summary of Amortized Cost and Fair Values of Securities Available for Sale by Contractual Maturity (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Less Than One Year, Amortized cost	$ 696
One to Five Years, Amortized cost	11,788
Over Five to Ten Years, Amortized cost	31,072
Over Ten Years, Amortized cost	46,203
Total, Amortized cost	89,759
Less Than One Year, Fair Value	701
One to Five Years, Fair Value	12,091
Over Five to Ten Years, Fair Value	31,279
Over Ten Years, Fair Value	45,357
Total, Fair Value	$ 89,428

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Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Cash Flows From Operating Activities:
Consolidated Net Income	$ 1,133	$ 1,139
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:
Provision for Loan Losses	150	150	700
Depreciation and Amortization	202	203
Noncash Compensation Expense	121	125
Net Amortization of Securities	87	136
Gain on Sales of Securities		(6)
Gain on Sale of Other Real Estate Owned	(22)
Increase in Cash Value of Life Insurance	(137)	(137)
Credit for Deferred Income Taxes	(30)	(20)
Changes in Assets and Liabilities:
Decrease in Accrued Interest Receivable	81	6
Decrease in Other Assets	221	1,922
Decrease in Accrued Interest Payable	(15)	(13)
Increase in Other Liabilities	338	362
Net Cash Provided by Operating Activities	2,129	3,867
Cash Flows From Investing Activities:
Purchases of Securities Available for Sale	(15,820)
Proceeds from Maturities / Sales of Securities Available for Sale		24,504
Proceeds from Paydowns of Securities Available for Sale	1,451	1,238
Purchases of Other Equity Securities	(1,894)	(542)
Proceeds from Sales of Other Equity Securities		1,866
Net Increase (Decrease) in Loans	(21,151)	3,009
Purchases of Premises and Equipment	(72)	(33)
Proceeds from Sales of Other Real Estate	93
Net Increase in Federal Funds Sold	(7,662)	(18,397)
Net Cash Provided by (Used in) Investing Activities	(45,055)	11,645
Cash Flows From Financing Activities:
Net Increase in Deposits	38,394	4,021
Net Advances on Borrowings	10,000
Net Cash Provided by Financing Activities	48,394	4,021
Net Increase in Cash and Cash Equivalents	5,468	19,533
Cash and Cash Equivalents at Beginning of Year	26,015	10,074	10,074
Cash and Cash Equivalents at End of Year	31,483	29,607	26,015
Supplemental Disclosures for Cash Flow Information:
Interest on Deposits	865	918
Interest on Borrowings	86	74
Supplemental Schedule for Noncash Investing and Financing Activities:
Change in the Unrealized Gain (Loss) on Securities Available for Sale	643	1,678
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale	(219)	(570)
Transfer of Loans to Other Real Estate	$ 0	$ 0

XML

Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for Loan Losses	$ 6,825	$ 6,632
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	5,314,925	5,314,925

XML

Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings per Common Share

	For The Three Months Ended March 31,
	2015		2014
	(Dollars in thousands) (except per share data)
Numerator:
Net Income Available to Common Shares	$	1,133	$	1,139
Denominator:
Weighted Average Common Shares Outstanding		5,314,925		5,314,925
Dilutive Effect of Stock Options and Warrants		293,600		194,888
Weighted Average Dilutive Common Shares		5,608,525		5,509,813
Basic Earnings Per Common Share From Net Income Available to Common Shares	$	0.21	$	0.21
Diluted Earnings Per Common Share From Net Income Available to Common Shares	$	0.20	$	0.21

XML

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	May 15, 2015
Document And Entity Information [Abstract]
Document Type	10-Q/A
Amendment Flag	false
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	BUSINESS FIRST BANCSHARES, INC.
Entity Central Index Key	0001624322
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		7,193,098

XML

Securities (Tables)

3 Months Ended

Mar. 31, 2015

Text Block [Abstract]

Amortized Cost and Fair Values of Securities Available for Sale

The amortized cost and fair values of securities available for sale as of March 31, 2015 and December 31, 2014 are summarized as follows:

	March 31, 2015
	(Dollars in thousands)
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
U.S. Government Agencies	$	11,336	$	36	$	20	$	11,352
Corporate Securities		8,637		17		30		8,624
Mortgage-Backed Securities		35,068		75		383		34,760
Municipal Securities		33,596		640		155		34,081
Other Securities		1,122		—		511		611
	$	89,759	$	768	$	1,099	$	89,428

	December 31, 2014
	(Dollars in thousands)
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
U.S. Government Agencies	$	9,260	$	31	$	149	$	9,142
Corporate Securities		—		—		—		—
Mortgage-Backed Securities		34,591		51		616		34,026
Municipal Securities		30,324		562		226		30,660
Other Securities		1,302		—		627		675
	$	75,477	$	644	$	1,618	$	74,503

Summary of Securities with Gross Unrealized Losses and Fair Values

The following table is a summary of securities with gross unrealized losses and fair values at March 31, 2015 and December 31, 2014, aggregated by investment category and length of time in a continued unrealized loss position. Due to the nature of these investments and current prevailing market prices, these unrealized losses are considered a temporary impairment of the securities.

	March 31, 2015
	Less Than 12 Months				12 Months or Greater				Total
					(Dollars in thousands)
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
U.S. Government Agencies	$	1,713	$	1	$	3,871	$	19	$	5,584	$	20
Corporate Securities		6,547		30		—		—		6,547		30
Mortgage-Backed Securities		—		—		28,015		383		28,015		383
Municipal Securities		6,290		45		4,858		110		11,148		155
Other Securities		—		—		611		511		611		511
	$	14,550	$	76	$	37,355	$	1,023	$	51,905	$	1,099

	December 31, 2014
	Less Than 12 Months				12 Months or Greater				Total
					(Dollars in thousands)
							Gross				Gross
					Fair		Unrealized		Fair		Unrealized
					Value		Losses		Value		Losses
U.S. Government Agencies	$	—	$	—	$	8,003	$	149	$	8,003	$	149
Corporate Securities		—		—		—		—		—		—
Mortgage-Backed Securities		—		—		32,714		616		32,714		616
Municipal Securities		4,703		20		9,687		206		14,390		226
Other Securities		—		—		675		627		675		627
	$	4,703	$	20	$	51,079	$	1,598	$	55,782	$	1,618

Summary of Amortized Cost and Fair Values of Securities Available for Sale by Contractual Maturity

The amortized cost and fair values of securities available for sale as of March 31, 2015 by contractual maturity are shown below.

	Amortized		Fair
	Cost		Value
Less Than One Year	$	696	$	701
One to Five Years		11,788		12,091
Over Five to Ten Years		31,072		31,279
Over Ten Years		46,203		45,357
	$	89,759	$	89,428

XML

Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Interest Income:
Interest and Fees on Loans	$ 6,633	$ 6,507
Interest and Dividends on Securities	463	470
Interest on Federal Funds Sold	6	14
Total Interest Income	7,102	6,991
Interest Expense:
Interest on Deposits	850	904
Interest on Borrowings	86	75
Total Interest Expense	936	979
Net Interest Income	6,166	6,012
Provision for Loan Losses	150	150
Net Interest Income after Provision for Loan Losses	6,016	5,862
Other Income:
Service Charges on Deposit Accounts	149	138
Gain on Sales of Securities		6
Other Income	280	193
Total Other Income	429	337
Other Expenses:
Salaries and Employee Benefits	2,938	2,726
Occupancy and Equipment Expense	657	630
Other Expenses	1,287	1,307
Total Other Expenses	4,882	4,663
Income Before Income Taxes	1,563	1,536
Provision for Income Taxes	430	397
Net Income	$ 1,133	$ 1,139
Earnings Per Share:
Basic	$ 0.21	$ 0.21
Diluted	$ 0.20	$ 0.21

XML

Loans and the Allowance for Loan Losses

3 Months Ended

Mar. 31, 2015

Receivables [Abstract]

Loans and the Allowance for Loan Losses

Note 5 – Loans and the Allowance for Loan Losses –

Loans receivable at March 31, 2015 and December 31, 2014 are summarized as follows:

	March 31,			December 31,
	2015			2014
	(Dollars in thousands)
Real estate loans:
Construction and land	$	65,860		$	61,062
Farmland		17,593			16,097
1-4 family residential		43,345			41,552
Multi-family residential		11,291			11,369
Nonfarm nonresidential		226,196			215,797
Commercial		185,179			185,291
Consumer		30,116			27,218
Total loans held for investment		579,580			558,386
Less:
Allowance for loan losses		(6,825	)		(6,632	)
Net loans	$	572,755		$	551,754

The Bank grants loans and extensions of credit to individuals and a variety of businesses and corporations located in its general market areas throughout Louisiana. Management segregates the loan portfolio into portfolio segments which is defined as the level at which the Bank develops and documents a systematic method for determining its allowance for loan losses. The portfolio segments are segregated based on loan types and the underlying risk factors present in each loan type. Such risk factors are periodically reviewed by management and revised as deemed appropriate. The following table sets forth, as of March 31, 2015 and December 31, 2014, the balance of the allowance for loan losses by portfolio segment, disaggregated by impairment methodology, which is then further segregated by amounts evaluated for impairment collectively and individually. The allowance for loan losses allocated to each portfolio segment is not necessarily indicative of future losses in any particular portfolio segment and does not restrict the use of the allowance to absorb losses in other portfolio segments.

Allowance for Credit Losses and Recorded Investment in Loans Receivable

	March 31, 2015
	(Dollars in thousands)
			Real Estate
	Real Estate		Commercial and		Real Estate
	1 to 4 Family		Other		Construction		Commercial			Consumer		Total
Allowance for credit losses:
Beginning Balance	$	775	$	1,194	$	525	$	3,813		$	325	$	6,632
Charge-offs		—		—		—		(41	)		—		(41	)
Recoveries		4		—		—		2			78		84
Provision		12		46		49		37			6		150
Ending Balance	$	791	$	1,240	$	574	$	3,811		$	409	$	6,825
Ending Balance:
Individually evaluated for impairment	$	—	$	—	$	505	$	—		$	—	$	505
Collectively evaluated for impairment	$	791	$	1,240	$	69	$	3,811		$	409	$	6,320
Loans receivable:
Ending Balance	$	43,345	$	255,080	$	65,860	$	185,179		$	30,116	$	579,580
Ending Balance:
Individually evaluated for impairment	$	873	$	4,013	$	2,750	$	3,595		$	25	$	11,256
Collectively evaluated for impairment	$	42,472	$	251,067	$	63,110	$	181,584		$	30,091	$	568,324

	December 31, 2014
	(Dollars in thousands)
				Real Estate
	Real Estate			Commercial and		Real Estate
	1 to 4 Family			Other		Construction		Commercial			Consumer		Total
Allowance for credit losses:
Beginning balance	$	836		$	974	$	315	$	3,647		$	271	$	6,043
Charge-offs		(174	)		—		—		(10	)		—		(184	)
Recoveries		29			—		—		16			28		73
Provision		84			220		210		160			26		700
Ending Balance	$	775		$	1,194	$	525	$	3,813		$	325	$	6,632
Ending Balance:
Individually evaluated for impairment	$	—		$	—	$	505	$	41		$	—	$	546
Collectively evaluated for impairment	$	775		$	1,194	$	20	$	3,772		$	325	$	6,086
Loans receivable:
Ending Balance	$	41,552		$	243,263	$	61,062	$	185,291		$	27,218	$	558,386
Ending Balance:
Individually evaluated for impairment	$	977		$	4,358	$	2,772	$	3,714		$	47	$	11,868
Collectively evaluated for impairment	$	40,575		$	238,905	$	58,290	$	181,577		$	27,171	$	546,518

Management further disaggregates the loan portfolio segments into classes of loans, which are based on the initial measurement of the loan, risk characteristics of the loan and the method for monitoring and assessing the credit risk of the loan.

As of March 31, 2015 and December 31, 2014, the credit quality indicators, disaggregated by class of loan, are as follows:

Credit Quality Indicators

	March 31, 2015
	Pass		Special Mention		Substandard		Doubtful		Total
					(Dollars in thousands)
Real Estate Loans:
Construction	$	61,589	$	2,052	$	631	$	1,588	$	65,860
Farmland		17,593		—		—		—		17,593
1-4 family residential		41,662		849		775		59		43,345
Multi-family residential		10,346		945		—		—		11,291
Nonfarm nonresidential		206,535		11,021		7,739		901		226,196
Commercial		164,898		9,126		11,154		1		185,179
Consumer		29,414		677		25		—		30,116
Total	$	532,037	$	24,670	$	20,324	$	2,549	$	579,580
	December 31, 2014
	Pass		Special Mention		Substandard		Doubtful		Total
					(Dollars in thousands)
Real Estate Loans:
Construction	$	56,740	$	2,069	$	642	$	1,611	$	61,062
Farmland		16,097		—		—		—		16,097
1-4 family residential		39,702		912		786		152		41,552
Multi-family residential		10,463		906		—		—		11,369
Nonfarm nonresidential		190,356		16,410		7,812		1,219		215,797
Commercial		161,904		12,087		11,254		46		185,291
Consumer		26,654		517		47		—		27,218
Total	$	501,916	$	32,901	$	20,541	$	3,028	$	558,386

The above classifications follow regulatory guidelines and can generally be described as follows:

• Pass loans are of satisfactory quality.

• Special mention loans have an existing weakness that could cause future impairment, including the deterioration of financial ratios, past due status, questionable management capabilities and possible reduction in the collateral values.

• Substandard loans have an existing specific and well defined weakness that may include poor liquidity and deterioration of financial ratios. The loan may be past due and related deposit accounts experiencing overdrafts. Immediate corrective action is necessary.

• Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable.

The following table reflects certain information with respect to the loan portfolio delinquencies by loan class and amount as of March 31, 2015 and December 31, 2014. All loans greater than 90 days past due are placed on non-accrual status.

Aged Analysis of Past Due Loans Receivable

	March 31, 2015
	(Dollars in thousands)
													Recorded
					Greater								Investment Over
	30-59 Days		60-89 Days		Than 90 Days		Total				Total Loans		90 Days Past Due
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		and Still Accruing
Real Estate Loans:
Construction	$	—	$	—	$	182	$	182	$	65,678	$	65,860	$	—
Farmland		—		—		—		—		17,593		17,593		—
1-4 family residential		—		—		59		59		43,286		43,345		—
Multi-family residential		—		—		—		—		11,291		11,291		—
Nonfarm nonresidential		—		—		131		131		226,065		226,196		—
Commercial		—		—		—		—		185,179		185,179		—
Consumer		—		—		—		—		30,116		30,116		—
Total	$	—	$	—	$	372	$	372	$	579,208	$	579,580	$	—
	December 31, 2014
	(Dollars in thousands)
													Recorded
					Greater								Investment Over
	30-59 Days		60-89 Days		Than 90 Days		Total				Total Loans		90 Days Past Due
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		and Still Accruing
Real Estate Loans:
Construction	$	—	$	—		182	$	182	$	60,880	$	61,062	$	—
Farmland		—		—		—		—		16,097		16,097		—
1-4 family residential		—		—		63		63		41,489		41,552		5
Multi-family residential		—		—		—		—		11,369		11,369		—
Nonfarm nonresidential		—		—		311		311		215,486		215,797		—
Commercial		41		—		—		41		185,250		185,291		—
Consumer		—		—		—		—		27,218		27,218		—
Total	$	41	$	—		556	$	597	$	557,789	$	558,386	$	5

The following is a summary of information pertaining to impaired loans as of March 31, 2015 and December 31, 2014. The interest income recognized for impaired loans was insignificant.

	March 31, 2015
			(Dollars in thousands)
			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
With an allowance recorded:
Real Estate Loans
1 to 4 Family	$	—	$	—	$	—	$	—
Multifamily		—		—		—		—
Commercial Real Estate		—		—		—		—
Construction		1,406		1,406		505		1,413
Other		—		—		—		—
Other Loans
Commercial		—		—		—		14
Consumer		—		—		—		—
	$	1,406	$	1,406	$	505	$	1,427
With no allowance recorded:
Real Estate Loans
1 to 4 Family	$	873	$	942	$	—	$	907
Multifamily		—		—		—		—
Commercial Real Estate		4,013		4,919		—		4,069
Construction		1,344		1,344		—		1,344
Other		—		—		—		—
Other Loans
Commercial		3,595		3,595		—		3,610
Consumer		25		25		—		36
	$	9,850	$	10,825	$	—	$	9,966
Total Impaired Loans:
Real Estate Loans
1 to 4 Family	$	873	$	942	$	—	$	907
Multifamily		—		—		—		—
Commercial Real Estate		4,013		4,919		—		4,069
Construction		2,750		2,750		505		2,757
Other		—		—		—		—
Other Loans
Commercial		3,595		3,595		—		3,624
Consumer		25		25		—		36
	$	11,256	$	12,231	$	505	$	11,393
	December 31, 2014
			(Dollars in thousands)
			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
With an allowance recorded:
Real Estate Loans
1 to 4 Family	$	—	$	—	$	—	$	83
Multifamily		—		—		—		—
Commercial Real Estate		—		—		—		—
Construction		1,428		1,428		505		1,345
Other		—		—		—		—
Other Loans
Commercial		41		41		41		3
Consumer		—		—		—		—
	$	1,469	$	1,469	$	546	$	1,431
With no allowance recorded:
Real Estate Loans
1 to 4 Family	$	977	$	1,020	$	—	$	1,090
Multifamily		—		—		—		—
Commercial Real Estate		4,358		5,264		—		5,069
Construction		1,344		1,344		—		1,905
Other		—		—		—		—
Other Loans
Commercial		3,673		3,673		—		3,753
Consumer		47		47		—		205
	$	10,399	$	11,348	$	—	$	12,022
Total Impaired Loans:
Real Estate Loans
1 to 4 Family	$	977	$	1,020	$	—	$	1,173
Multifamily		—		—		—		—
Commercial Real Estate		4,358		5,264		—		5,069
Construction		2,772		2,772		505		3,250
Other		—		—		—		—
Other Loans
Commercial		3,714		3,714		41		3,756
Consumer		47		47		—		205
	$	11,868	$	12,817	$	546	$	13,453

The Bank seeks to assist customers that are experiencing financial difficulty by renegotiating loans within lending regulations and guidelines. The Bank makes loan modifications, primarily utilizing internal renegotiation programs via direct customer contact, that manage customers’ debt exposures held only by the Bank. Additionally, the Bank makes loan modifications with customers who have elected to work with external renegotiation agencies and these modifications provide solutions to customers’ entire unsecured debt structures. During the periods ended March 31, 2015 and December 31, 2014, the concessions granted to certain borrowers included extending the payment due dates, lowering the contractual interest rate, reducing accrued interest, and reducing the debt’s face or maturity amount.

Once modified in a troubled debt restructuring, a loan is generally considered impaired until its contractual maturity. At the time of the restructuring, the loan is evaluated for an asset-specific allowance for credit losses. The Bank continues to specifically reevaluate the loan in subsequent periods, regardless of the borrower’s performance under the modified terms. If a borrower subsequently defaults on the loan after it is restructured the Bank provides an allowance for credit losses for the amount of the loan that exceeds the value of the related collateral.

The following tables present informative data regarding loan modifications occurring as of March 31, 2015 and December 31, 2014.

Modifications as of March 31, 2015:

			Pre-Modification		Post-Modification
	Number		Outstanding		Outstanding
	of		Recorded		Recorded
	Contracts		Investment		Investment
			(Dollars in thousands)
Troubled Debt Restructing
Real Estate Loans:
1 - 4 Family		4	$	1,388	$	871
Multifamily				—		—
Commercial Real Estate		5		7,201		3,883
Construction		1		1,586		1,162
Other				—		—
Other Loans:
Commercial		5		3,840		3,576
Consumer		2		139		25
Total Loans		17	$	14,154	$	9,517

Modifications as of December 31, 2014:

			Pre-Modification		Post-Modification
	Number		Outstanding		Outstanding
	of		Recorded		Recorded
	Contracts		Investment		Investment
			(Dollars in thousands)
Troubled Debt Restructing
Real Estate Loans:
1 - 4 Family		5	$	1,519	$	973
Multifamily				—		—
Commercial Real Estate		5		7,201		4,047
Construction		1		1,586		1,162
Other				—		—
Other Loans:
Commercial		6		3,888		3,658
Consumer		2		139		47
Total Loans		19	$	14,333	$	9,887

XML

Securities

3 Months Ended

Mar. 31, 2015

Text Block [Abstract]

Securities

Note 4 – Securities –

The amortized cost and fair values of securities available for sale as of March 31, 2015 and December 31, 2014 are summarized as follows:

	March 31, 2015
	(Dollars in thousands)
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
U.S. Government Agencies	$	11,336	$	36	$	20	$	11,352
Corporate Securities		8,637		17		30		8,624
Mortgage-Backed Securities		35,068		75		383		34,760
Municipal Securities		33,596		640		155		34,081
Other Securities		1,122		—		511		611
	$	89,759	$	768	$	1,099	$	89,428

	December 31, 2014
	(Dollars in thousands)
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
U.S. Government Agencies	$	9,260	$	31	$	149	$	9,142
Corporate Securities		—		—		—		—
Mortgage-Backed Securities		34,591		51		616		34,026
Municipal Securities		30,324		562		226		30,660
Other Securities		1,302		—		627		675
	$	75,477	$	644	$	1,618	$	74,503

The following table is a summary of securities with gross unrealized losses and fair values at March 31, 2015 and December 31, 2014, aggregated by investment category and length of time in a continued unrealized loss position. Due to the nature of these investments and current prevailing market prices, these unrealized losses are considered a temporary impairment of the securities.

	March 31, 2015
	Less Than 12 Months				12 Months or Greater				Total
					(Dollars in thousands)
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
U.S. Government Agencies	$	1,713	$	1	$	3,871	$	19	$	5,584	$	20
Corporate Securities		6,547		30		—		—		6,547		30
Mortgage-Backed Securities		—		—		28,015		383		28,015		383
Municipal Securities		6,290		45		4,858		110		11,148		155
Other Securities		—		—		611		511		611		511
	$	14,550	$	76	$	37,355	$	1,023	$	51,905	$	1,099

	December 31, 2014
	Less Than 12 Months				12 Months or Greater				Total
					(Dollars in thousands)
							Gross				Gross
					Fair		Unrealized		Fair		Unrealized
					Value		Losses		Value		Losses
U.S. Government Agencies	$	—	$	—	$	8,003	$	149	$	8,003	$	149
Corporate Securities		—		—		—		—		—		—
Mortgage-Backed Securities		—		—		32,714		616		32,714		616
Municipal Securities		4,703		20		9,687		206		14,390		226
Other Securities		—		—		675		627		675		627
	$	4,703	$	20	$	51,079	$	1,598	$	55,782	$	1,618

Management evaluates securities for other than temporary impairment when economic and market conditions warrant such evaluations. Consideration is given to the extent and length of time the fair value has been below cost, the reasons for the decline in value, and the Company’s intent to sell a security or whether it is more likely than not that the Company will be required to sell the security before the recovery of its amortized cost. The Company developed a process to identify securities that could potentially have a credit impairment that is other than temporary. This process involves evaluating each security for impairment by monitoring credit performance, collateral type, collateral geography, loan-to-value ratios, credit scores, loss severity levels, pricing levels, downgrades by rating agencies, cash flow projections and other factors as indicators of potential credit issues. When the Company determines that a security is deemed to be other than temporarily impaired, an impairment loss is recognized.

The amortized cost and fair values of securities available for sale as of March 31, 2015 by contractual maturity are shown below. Actual maturities may differ from contractual maturities in mortgage- backed securities because the mortgages underlying the securities may be called or repaid without any penalties.

	Amortized		Fair
	Cost		Value
Less Than One Year	$	696	$	701
One to Five Years		11,788		12,091
Over Five to Ten Years		31,072		31,279
Over Ten Years		46,203		45,357
	$	89,759	$	89,428

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Securities - Summary of Securities with Gross Unrealized Losses and Fair Values (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less Than 12 Months	$ 14,550	$ 4,703
Gross Unrealized Losses, Less Than 12 Months	76	20
Fair Value, 12 Months or Greater	37,355	51,079
Gross Unrealized Losses, 12 Months or Greater	1,023	1,598
Fair Value	51,905	55,782
Gross Unrealized Losses	1,099	1,618
U.S. Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less Than 12 Months	1,713
Gross Unrealized Losses, Less Than 12 Months	1
Fair Value, 12 Months or Greater	3,871	8,003
Gross Unrealized Losses, 12 Months or Greater	19	149
Fair Value	5,584	8,003
Gross Unrealized Losses	20	149
Corporate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less Than 12 Months	6,547
Gross Unrealized Losses, Less Than 12 Months	30
Fair Value	6,547
Gross Unrealized Losses	30
Mortgage - Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, 12 Months or Greater	28,015	32,714
Gross Unrealized Losses, 12 Months or Greater	383	616
Fair Value	28,015	32,714
Gross Unrealized Losses	383	616
Municipal Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less Than 12 Months	6,290	4,703
Gross Unrealized Losses, Less Than 12 Months	45	20
Fair Value, 12 Months or Greater	4,858	9,687
Gross Unrealized Losses, 12 Months or Greater	110	206
Fair Value	11,148	14,390
Gross Unrealized Losses	155	226
Other Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, 12 Months or Greater	611	675
Gross Unrealized Losses, 12 Months or Greater	511	627
Fair Value	611	675
Gross Unrealized Losses	$ 511	$ 627

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Loans and the Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2015

Receivables [Abstract]

Summary of Loans Receivable

Loans receivable at March 31, 2015 and December 31, 2014 are summarized as follows:

	March 31,			December 31,
	2015			2014
	(Dollars in thousands)
Real estate loans:
Construction and land	$	65,860		$	61,062
Farmland		17,593			16,097
1-4 family residential		43,345			41,552
Multi-family residential		11,291			11,369
Nonfarm nonresidential		226,196			215,797
Commercial		185,179			185,291
Consumer		30,116			27,218
Total loans held for investment		579,580			558,386
Less:
Allowance for loan losses		(6,825	)		(6,632	)
Net loans	$	572,755		$	551,754

Summary of Allowance for Credit Losses and Recorded Investment in Loans Receivable

Allowance for Credit Losses and Recorded Investment in Loans Receivable

	March 31, 2015
	(Dollars in thousands)
			Real Estate
	Real Estate		Commercial and		Real Estate
	1 to 4 Family		Other		Construction		Commercial			Consumer		Total
Allowance for credit losses:
Beginning Balance	$	775	$	1,194	$	525	$	3,813		$	325	$	6,632
Charge-offs		—		—		—		(41	)		—		(41	)
Recoveries		4		—		—		2			78		84
Provision		12		46		49		37			6		150
Ending Balance	$	791	$	1,240	$	574	$	3,811		$	409	$	6,825
Ending Balance:
Individually evaluated for impairment	$	—	$	—	$	505	$	—		$	—	$	505
Collectively evaluated for impairment	$	791	$	1,240	$	69	$	3,811		$	409	$	6,320
Loans receivable:
Ending Balance	$	43,345	$	255,080	$	65,860	$	185,179		$	30,116	$	579,580
Ending Balance:
Individually evaluated for impairment	$	873	$	4,013	$	2,750	$	3,595		$	25	$	11,256
Collectively evaluated for impairment	$	42,472	$	251,067	$	63,110	$	181,584		$	30,091	$	568,324

	December 31, 2014
	(Dollars in thousands)
				Real Estate
	Real Estate			Commercial and		Real Estate
	1 to 4 Family			Other		Construction		Commercial			Consumer		Total
Allowance for credit losses:
Beginning balance	$	836		$	974	$	315	$	3,647		$	271	$	6,043
Charge-offs		(174	)		—		—		(10	)		—		(184	)
Recoveries		29			—		—		16			28		73
Provision		84			220		210		160			26		700
Ending Balance	$	775		$	1,194	$	525	$	3,813		$	325	$	6,632
Ending Balance:
Individually evaluated for impairment	$	—		$	—	$	505	$	41		$	—	$	546
Collectively evaluated for impairment	$	775		$	1,194	$	20	$	3,772		$	325	$	6,086
Loans receivable:
Ending Balance	$	41,552		$	243,263	$	61,062	$	185,291		$	27,218	$	558,386
Ending Balance:
Individually evaluated for impairment	$	977		$	4,358	$	2,772	$	3,714		$	47	$	11,868
Collectively evaluated for impairment	$	40,575		$	238,905	$	58,290	$	181,577		$	27,171	$	546,518

Summary of Credit Quality Indicators, Disaggregated by Class of Loan

Credit Quality Indicators

	March 31, 2015
	Pass		Special Mention		Substandard		Doubtful		Total
					(Dollars in thousands)
Real Estate Loans:
Construction	$	61,589	$	2,052	$	631	$	1,588	$	65,860
Farmland		17,593		—		—		—		17,593
1-4 family residential		41,662		849		775		59		43,345
Multi-family residential		10,346		945		—		—		11,291
Nonfarm nonresidential		206,535		11,021		7,739		901		226,196
Commercial		164,898		9,126		11,154		1		185,179
Consumer		29,414		677		25		—		30,116
Total	$	532,037	$	24,670	$	20,324	$	2,549	$	579,580
	December 31, 2014
	Pass		Special Mention		Substandard		Doubtful		Total
					(Dollars in thousands)
Real Estate Loans:
Construction	$	56,740	$	2,069	$	642	$	1,611	$	61,062
Farmland		16,097		—		—		—		16,097
1-4 family residential		39,702		912		786		152		41,552
Multi-family residential		10,463		906		—		—		11,369
Nonfarm nonresidential		190,356		16,410		7,812		1,219		215,797
Commercial		161,904		12,087		11,254		46		185,291
Consumer		26,654		517		47		—		27,218
Total	$	501,916	$	32,901	$	20,541	$	3,028	$	558,386

Summary of Aged Analysis of Past Due Loans Receivable

The following table reflects certain information with respect to the loan portfolio delinquencies by loan class and amount as of March 31, 2015 and December 31, 2014. All loans greater than 90 days past due are placed on non-accrual status.

Aged Analysis of Past Due Loans Receivable

	March 31, 2015
	(Dollars in thousands)
													Recorded
					Greater								Investment Over
	30-59 Days		60-89 Days		Than 90 Days		Total				Total Loans		90 Days Past Due
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		and Still Accruing
Real Estate Loans:
Construction	$	—	$	—	$	182	$	182	$	65,678	$	65,860	$	—
Farmland		—		—		—		—		17,593		17,593		—
1-4 family residential		—		—		59		59		43,286		43,345		—
Multi-family residential		—		—		—		—		11,291		11,291		—
Nonfarm nonresidential		—		—		131		131		226,065		226,196		—
Commercial		—		—		—		—		185,179		185,179		—
Consumer		—		—		—		—		30,116		30,116		—
Total	$	—	$	—	$	372	$	372	$	579,208	$	579,580	$	—
	December 31, 2014
	(Dollars in thousands)
													Recorded
					Greater								Investment Over
	30-59 Days		60-89 Days		Than 90 Days		Total				Total Loans		90 Days Past Due
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		and Still Accruing
Real Estate Loans:
Construction	$	—	$	—		182	$	182	$	60,880	$	61,062	$	—
Farmland		—		—		—		—		16,097		16,097		—
1-4 family residential		—		—		63		63		41,489		41,552		5
Multi-family residential		—		—		—		—		11,369		11,369		—
Nonfarm nonresidential		—		—		311		311		215,486		215,797		—
Commercial		41		—		—		41		185,250		185,291		—
Consumer		—		—		—		—		27,218		27,218		—
Total	$	41	$	—		556	$	597	$	557,789	$	558,386	$	5

Summary of Information Pertaining to Impaired Loans

The following is a summary of information pertaining to impaired loans as of March 31, 2015 and December 31, 2014. The interest income recognized for impaired loans was insignificant.

	March 31, 2015
			(Dollars in thousands)
			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
With an allowance recorded:
Real Estate Loans
1 to 4 Family	$	—	$	—	$	—	$	—
Multifamily		—		—		—		—
Commercial Real Estate		—		—		—		—
Construction		1,406		1,406		505		1,413
Other		—		—		—		—
Other Loans
Commercial		—		—		—		14
Consumer		—		—		—		—
	$	1,406	$	1,406	$	505	$	1,427
With no allowance recorded:
Real Estate Loans
1 to 4 Family	$	873	$	942	$	—	$	907
Multifamily		—		—		—		—
Commercial Real Estate		4,013		4,919		—		4,069
Construction		1,344		1,344		—		1,344
Other		—		—		—		—
Other Loans
Commercial		3,595		3,595		—		3,610
Consumer		25		25		—		36
	$	9,850	$	10,825	$	—	$	9,966
Total Impaired Loans:
Real Estate Loans
1 to 4 Family	$	873	$	942	$	—	$	907
Multifamily		—		—		—		—
Commercial Real Estate		4,013		4,919		—		4,069
Construction		2,750		2,750		505		2,757
Other		—		—		—		—
Other Loans
Commercial		3,595		3,595		—		3,624
Consumer		25		25		—		36
	$	11,256	$	12,231	$	505	$	11,393
	December 31, 2014
			(Dollars in thousands)
			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
With an allowance recorded:
Real Estate Loans
1 to 4 Family	$	—	$	—	$	—	$	83
Multifamily		—		—		—		—
Commercial Real Estate		—		—		—		—
Construction		1,428		1,428		505		1,345
Other		—		—		—		—
Other Loans
Commercial		41		41		41		3
Consumer		—		—		—		—
	$	1,469	$	1,469	$	546	$	1,431
With no allowance recorded:
Real Estate Loans
1 to 4 Family	$	977	$	1,020	$	—	$	1,090
Multifamily		—		—		—		—
Commercial Real Estate		4,358		5,264		—		5,069
Construction		1,344		1,344		—		1,905
Other		—		—		—		—
Other Loans
Commercial		3,673		3,673		—		3,753
Consumer		47		47		—		205
	$	10,399	$	11,348	$	—	$	12,022
Total Impaired Loans:
Real Estate Loans
1 to 4 Family	$	977	$	1,020	$	—	$	1,173
Multifamily		—		—		—		—
Commercial Real Estate		4,358		5,264		—		5,069
Construction		2,772		2,772		505		3,250
Other		—		—		—		—
Other Loans
Commercial		3,714		3,714		41		3,756
Consumer		47		47		—		205
	$	11,868	$	12,817	$	546	$	13,453

Summary of Informative Data Regarding Loan Modifications

The following tables present informative data regarding loan modifications occurring as of March 31, 2015 and December 31, 2014.

Modifications as of March 31, 2015:

			Pre-Modification		Post-Modification
	Number		Outstanding		Outstanding
	of		Recorded		Recorded
	Contracts		Investment		Investment
			(Dollars in thousands)
Troubled Debt Restructing
Real Estate Loans:
1 - 4 Family		4	$	1,388	$	871
Multifamily				—		—
Commercial Real Estate		5		7,201		3,883
Construction		1		1,586		1,162
Other				—		—
Other Loans:
Commercial		5		3,840		3,576
Consumer		2		139		25
Total Loans		17	$	14,154	$	9,517

Modifications as of December 31, 2014:

			Pre-Modification		Post-Modification
	Number		Outstanding		Outstanding
	of		Recorded		Recorded
	Contracts		Investment		Investment
			(Dollars in thousands)
Troubled Debt Restructing
Real Estate Loans:
1 - 4 Family		5	$	1,519	$	973
Multifamily				—		—
Commercial Real Estate		5		7,201		4,047
Construction		1		1,586		1,162
Other				—		—
Other Loans:
Commercial		6		3,888		3,658
Consumer		2		139		47
Total Loans		19	$	14,333	$	9,887

XML

Other Matters

3 Months Ended

Mar. 31, 2015

Text Block [Abstract]

Other Matters

Note 8 – Other Matters –

After the close of business on March 31, 2015, the Company merged with American Gateway Financial Corporation (AGFC), parent bank holding company for American Gateway Bank, to which the operations of AGFC merged with the Company. AGFC is a full service bank with 11 branches located in the Baton Rouge metro region. As part of the merger, the Company issued common stock, as well as cash, for the outstanding shares of AGFC. The Company believes with this merger, it will not only increase its presence in the Baton Rouge region, but also in Louisiana statewide, by being able to offer more services to its customers. The Company also believes that merging with AGFC will increase its core deposits and allow the opportunity to further increase the loan portfolio. The merger took place after the close of business on March 31, 2015. Accordingly, the unaudited financial statements do not give affect to the merger.

XML

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 6 – Fair Value of Financial Instruments –

Fair Value Disclosures

The Company groups its financial assets and liabilities measured at fair value in three levels. Fair value should be based on the assumptions market participants would use when pricing the asset or liability and establishes a fair value hierarchy that prioritizes the inputs used to develop those assumptions and measure fair value. The hierarchy requires companies to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:

• Level 1 – Includes the most reliable sources, and includes quoted prices in active markets for identical assets or liabilities.

• Level 2 – Includes observable inputs. Observable inputs include inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates) as well as inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs).

• Level 3 – Includes unobservable inputs and should be used only when observable inputs are unavailable.

Recurring Basis

Fair values of investment securities available for sale were primarily measured using information from a third-party pricing service. This pricing service provides information by utilizing evaluated pricing models supported with market data information. Standard inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, and reference data from market research publications.

The following tables present the balance of assets and liabilities measured on a recurring basis as of March 31, 2015 and December 31, 2014. The Company did not record any liabilities at fair value for which measurement of the fair value was made on a recurring basis.

			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
			(Dollars in thousands)
March 31, 2015
Available for Sale:
U.S. Government Agency Securities	$	11,352	$	—	$	11,352	$	—
Corporate Securities		8,624		—		8,624		—
Mortgage-Backed Securities		34,760		—		34,760		—
Municipal Securities		34,081		—		34,081		—
Other Securities		611		—		611		—
Total	$	89,428	$	—	$	89,428	$	—
December 31, 2014
Available for Sale:
U.S. Government Agency Securities	$	9,142	$	—	$	9,142	$	—
Corporate Securities		—		—		—		—
Mortgage-Backed Securities		34,026		—		34,026		—
Municipal Securities		30,660		—		30,660		—
Other Securities		675		—		675		—
Total	$	74,503	$	—	$	74,503	$	—

Nonrecurring Basis

The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. The Company did not record any liabilities at fair value for which measurement of the fair value was made on a nonrecurring basis.

The fair value of the impaired loans is measured at the fair value of the collateral for collateral- dependent loans. Impaired loans are Level 2 assets measured using appraisals from external parties of the collateral less any prior liens. Repossessed assets are initially recorded at fair value less estimated cost to sell. The fair value of repossessed assets is based on property appraisals and an analysis of similar properties available. As such, the Bank records repossessed assets as Level 2.

			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
			(Dollars in thousands)
March 31, 2015
Assets:
Impaired Loans	$	10,751	$	—	$	10,751	$	—
Repossessed Assets		2,957		—		2,957		—
Total	$	13,708	$	—	$	13,708	$	—
December 31, 2014
Assets:
Impaired Loans	$	11,322	$	—	$	11,322	$	—
Repossessed Assets		3,028		—		3,028		—
Total	$	14,350	$	—	$	14,350	$	—

Fair Value Financial Instruments

The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. In accordance with generally accepted accounting principles, certain financial instruments and all non- financial instruments are excluded from these disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company.

The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value:

Cash and Short-Term Investments – For those short-term instruments, the carrying amount is a reasonable estimate of fair value.

Securities – Fair value of securities is based on quoted market prices. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities.

Loans – The fair value for loans is estimated using discounted cash flow analyses, with interest rates currently being offered for similar loans to borrowers with similar credit rates. Loans with similar classifications are aggregated for purposes of the calculations. The allowance for loan losses, which was used to measure the credit risk, is subtracted from loans.

Cash Value of Bank-Owned Life Insurance (BOLI) – The carrying amount approximates its fair value.

Deposits – The fair value of demand deposits and certain money market deposits is the amount payable at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using discounted cash flow analyses, with interest rates currently offered for deposits of similar remaining maturities.

Borrowings – The fair value of FHLB advances and other long-term borrowings is estimated using the rates currently offered for advances of similar maturities. The carrying amount of short-term borrowings maturing within ninety days approximates the fair value.

Commitments to Extend Credit and Standby and Commercial Letters of Credit – The fair values of commitments to extend credit and standby and commercial letters of credit do not differ significantly from the commitment amount and are therefore omitted from this disclosure.

The estimated approximate fair values of the Bank’s financial instruments as of March 31, 2015 and December 31, 2014 are as follows:

					Quoted Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying		Total		Assets		Inputs		Inputs
	Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
					(Dollars in thousands)
March 31, 2015
Financial Assets:
Cash and Short-Term Investments	$	39,962	$	39,962	$	39,962	$	—	$	—
Securities		89,428		89,428		—		89,428		—
Loans- Net		572,755		571,374		—		—		571,374
Cash Value of BOLI		17,513		17,513		—		17,513		—
	$	719,658	$	718,277	$	39,962	$	106,941	$	571,374
Financial Liabilities:
Deposits	$	625,646	$	614,682	$	—	$	—	$	614,682
Borrowings		25,000		15,850		—		15,850		—
	$	650,646	$	630,532	$	—	$	15,850	$	614,682

					Quoted Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying		Total		Assets		Inputs		Inputs
	Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
					(Dollars in thousands)
December 31, 2014
Financial Assets:
Cash and Short-Term Investments	$	26,832	$	26,832	$	26,832	$	—	$	—
Securities		74,503		74,503		—		74,503		—
Loans - Net		551,754		551,037		—		—		551,037
Cash Value of BOLI		17,376		17,376		—		17,376		—
	$	670,465	$	669,748	$	26,832	$	91,879	$	551,037
Financial Liabilities:
Deposits	$	587,252	$	581,239	$	—	$	—	$	581,239
Borrowings		15,000		14,986		—		14,986		—
	$	602,252	$	596,225	$	—	$	14,986	$	581,239

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Recently Issued Accounting Pronouncements

3 Months Ended

Mar. 31, 2015

Accounting Changes and Error Corrections [Abstract]

Recently Issued Accounting Pronouncements

Note 7 – Recently Issued Accounting Pronouncements –

In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-01, Investments – Equity Method and Joint Venture – Accounting for Investments in Qualified Affordable Housing Projects, which permits entities to make an accounting policy election to account for investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. The new guidance also requires new disclosures for all investors in these projects. ASU No. 2014-01 is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In January 2014, the FASB issued ASU No. 2014-04, Receivables – Troubled Debt Restructurings by Creditors – Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, which clarifies when an in-substance repossession of foreclosure is deemed to occur, that is when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, and the loan should be derecognized and the real estate property should be recognized. This ASU clarifies that an in-substance repossession or foreclosure has occurred when either the creditor obtains legal title to the property or the borrower conveys all interest in the property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or similar legal agreement. ASU 2014-04 also requires the Company to disclose both the amount of foreclosed residential real estate property held and the investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure. This ASU is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In August 2014, the FASB issued ASU No. 2014-14, Receivables – Troubled Debt Restructurings by Creditors – Classification of Certain Government-Guaranteed Residential Mortgage Loans Upon Foreclosure, which provides guidance concerning the classification of foreclosed residential mortgage loans held by creditors that are fully guaranteed under certain government programs. If certain conditions are met, a residential mortgage loan is derecognized and a separate other receivable is recorded upon foreclosure. ASU No. 2014-14 is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern: Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which requires management to evaluate whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued. This ASU is effective for interim and annual reporting periods beginning after December 15, 2016. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.

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Recently Issued Accounting Pronouncements (Policies)

3 Months Ended

Mar. 31, 2015

Accounting Changes and Error Corrections [Abstract]

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements –

In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-01, Investments – Equity Method and Joint Venture – Accounting for Investments in Qualified Affordable Housing Projects, which permits entities to make an accounting policy election to account for investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. The new guidance also requires new disclosures for all investors in these projects. ASU No. 2014-01 is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In January 2014, the FASB issued ASU No. 2014-04, Receivables – Troubled Debt Restructurings by Creditors – Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, which clarifies when an in-substance repossession of foreclosure is deemed to occur, that is when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, and the loan should be derecognized and the real estate property should be recognized. This ASU clarifies that an in-substance repossession or foreclosure has occurred when either the creditor obtains legal title to the property or the borrower conveys all interest in the property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or similar legal agreement. ASU 2014-04 also requires the Company to disclose both the amount of foreclosed residential real estate property held and the investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure. This ASU is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In August 2014, the FASB issued ASU No. 2014-14, Receivables – Troubled Debt Restructurings by Creditors – Classification of Certain Government-Guaranteed Residential Mortgage Loans Upon Foreclosure, which provides guidance concerning the classification of foreclosed residential mortgage loans held by creditors that are fully guaranteed under certain government programs. If certain conditions are met, a residential mortgage loan is derecognized and a separate other receivable is recorded upon foreclosure. ASU No. 2014-14 is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern: Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which requires management to evaluate whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued. This ASU is effective for interim and annual reporting periods beginning after December 15, 2016. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.

XML

Fair Value of Financial Instruments - Schedule of Estimated Fair Values of Banks Financial Instruments (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities	$ 89,428	$ 74,503
Borrowings	25,000	15,000
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Short-Term Investments	39,962	26,832
Securities	89,428	74,503
Loans - Net	572,755	551,754
Cash Value of BOLI	17,513	17,376
Total Assets	719,658	670,465
Deposits	625,646	587,252
Borrowings	25,000	15,000
Total Liabilities	650,646	602,252
Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Short-Term Investments	39,962	26,832
Securities	89,428	74,503
Loans - Net	571,374	551,037
Cash Value of BOLI	17,513	17,376
Total Assets	718,277	669,748
Deposits	614,682	581,239
Borrowings	15,850	14,986
Total Liabilities	630,532	596,225
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Short-Term Investments	39,962	26,832
Total Assets	39,962	26,832
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities	89,428	74,503
Cash Value of BOLI	17,513	17,376
Total Assets	106,941	91,879
Borrowings	15,850	14,986
Total Liabilities	15,850	14,986
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans - Net	571,374	551,037
Total Assets	571,374	551,037
Deposits	614,682	581,239
Total Liabilities	$ 614,682	$ 581,239

XML

Earnings per Common Share - Computation of Basic and Diluted Earnings per Common Share (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net Income Available to Common Shares	$ 1,133	$ 1,139
Weighted Average Common Shares Outstanding	5,314,925	5,314,925
Dilutive Effect of Stock Options and Warrants	293,600	194,888
Weighted Average Dilutive Common Shares	5,608,525	5,509,813
Basic Earnings Per Common Share From Net Income Available to Common Shares	$ 0.21	$ 0.21
Diluted Earnings Per Common Share From Net Income Available to Common Shares	$ 0.20	$ 0.21

XML

Loans and the Allowance for Loan Losses - Summary of Allowance for Credit Losses and Recorded Investment in Loans Receivable (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses, Beginning balance	$ 6,632	$ 6,043	$ 6,043
Allowance for credit losses, Charge-offs	(41)		(184)
Allowance for credit losses, Recoveries	84		73
Allowance for credit losses, Provision	150	150	700
Allowance for credit losses, Ending Balance	6,825		6,632
Allowance for credit losses, Individually evaluated for impairment	505		546
Allowance for credit losses, Collectively evaluated for impairment	6,320		6,086
Loans receivable, Ending Balance	579,580		558,386
Loans receivable, Individually evaluated for impairment	11,256		11,868
Loans receivable, Collectively evaluated for impairment	568,324		546,518
1-4 Family Residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses, Beginning balance	775	836	836
Allowance for credit losses, Charge-offs			(174)
Allowance for credit losses, Recoveries	4		29
Allowance for credit losses, Provision	12		84
Allowance for credit losses, Ending Balance	791		775
Allowance for credit losses, Collectively evaluated for impairment	791		775
Loans receivable, Ending Balance	43,345		41,552
Loans receivable, Individually evaluated for impairment	873		977
Loans receivable, Collectively evaluated for impairment	42,472		40,575
Real Estate Commercial and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses, Beginning balance	1,194	974	974
Allowance for credit losses, Provision	46		220
Allowance for credit losses, Ending Balance	1,240		1,194
Allowance for credit losses, Collectively evaluated for impairment	1,240		1,194
Loans receivable, Ending Balance	255,080		243,263
Loans receivable, Individually evaluated for impairment	4,013		4,358
Loans receivable, Collectively evaluated for impairment	251,067		238,905
Real Estate Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses, Beginning balance	525	315	315
Allowance for credit losses, Provision	49		210
Allowance for credit losses, Ending Balance	574		525
Allowance for credit losses, Individually evaluated for impairment	505		505
Allowance for credit losses, Collectively evaluated for impairment	69		20
Loans receivable, Ending Balance	65,860		61,062
Loans receivable, Individually evaluated for impairment	2,750		2,772
Loans receivable, Collectively evaluated for impairment	63,110		58,290
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses, Beginning balance	3,813	3,647	3,647
Allowance for credit losses, Charge-offs	(41)		(10)
Allowance for credit losses, Recoveries	2		16
Allowance for credit losses, Provision	37		160
Allowance for credit losses, Ending Balance	3,811		3,813
Allowance for credit losses, Individually evaluated for impairment			41
Allowance for credit losses, Collectively evaluated for impairment	3,811		3,772
Loans receivable, Ending Balance	185,179		185,291
Loans receivable, Individually evaluated for impairment	3,595		3,714
Loans receivable, Collectively evaluated for impairment	181,584		181,577
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses, Beginning balance	325	271	271
Allowance for credit losses, Recoveries	78		28
Allowance for credit losses, Provision	6		26
Allowance for credit losses, Ending Balance	409		325
Allowance for credit losses, Collectively evaluated for impairment	409		325
Loans receivable, Ending Balance	30,116		27,218
Loans receivable, Individually evaluated for impairment	25		47
Loans receivable, Collectively evaluated for impairment	$ 30,091		$ 27,171

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Consolidated Statements of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Consolidated Net Income	$ 1,133	$ 1,139
Other Comprehensive Income (Loss):
Unrealized Gain (Loss) on Investment Securities	642	1,671
Reclassification Adjustment for Gains included in Net Income		6
Income Tax Effect	(218)	(570)
Other Comprehensive Income (Loss)	424	1,107
Consolidated Comprehensive Income (Loss)	$ 1,557	$ 2,246

XML

Earnings per Common Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings per Common Share

Note 3 – Earnings per Common Share –

Basic earnings per share (EPS) represents income available to common stockholders divided by the weighted average number of common shares outstanding; no dilution for any potentially convertible shares is included in the calculation. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. The potential common shares that may be issued by the Company relate to outstanding stock warrants and stock options.

	For The Three Months Ended March 31,
	2015		2014
	(Dollars in thousands) (except per share data)
Numerator:
Net Income Available to Common Shares	$	1,133	$	1,139
Denominator:
Weighted Average Common Shares Outstanding		5,314,925		5,314,925
Dilutive Effect of Stock Options and Warrants		293,600		194,888
Weighted Average Dilutive Common Shares		5,608,525		5,509,813
Basic Earnings Per Common Share From Net Income Available to Common Shares	$	0.21	$	0.21
Diluted Earnings Per Common Share From Net Income Available to Common Shares	$	0.20	$	0.21

XML

Loans and the Allowance for Loan Losses - Summary of Credit Quality Indicators, Disaggregated by Class of Loan (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	$ 579,580	$ 558,386
Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	65,860	61,062
Farmland [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	17,593	16,097
1-4 Family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	43,345	41,552
Multi-family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	11,291	11,369
Nonfarm Nonresidential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	226,196	215,797
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	185,179	185,291
Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	30,116	27,218
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	532,037	501,916
Pass [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	61,589	56,740
Pass [Member] | Farmland [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	17,593	16,097
Pass [Member] | 1-4 Family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	41,662	39,702
Pass [Member] | Multi-family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	10,346	10,463
Pass [Member] | Nonfarm Nonresidential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	206,535	190,356
Pass [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	164,898	161,904
Pass [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	29,414	26,654
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	24,670	32,901
Special Mention [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	2,052	2,069
Special Mention [Member] | 1-4 Family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	849	912
Special Mention [Member] | Multi-family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	945	906
Special Mention [Member] | Nonfarm Nonresidential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	11,021	16,410
Special Mention [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	9,126	12,087
Special Mention [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	677	517
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	20,324	20,541
Substandard [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	631	642
Substandard [Member] | 1-4 Family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	775	786
Substandard [Member] | Nonfarm Nonresidential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	7,739	7,812
Substandard [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	11,154	11,254
Substandard [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	25	47
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	2,549	3,028
Doubtful [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	1,588	1,611
Doubtful [Member] | 1-4 Family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	59	152
Doubtful [Member] | Nonfarm Nonresidential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	901	1,219
Doubtful [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit quality indicators	$ 1	$ 46

XML

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following tables present the balance of assets and liabilities measured on a recurring basis as of March 31, 2015 and December 31, 2014. The Company did not record any liabilities at fair value for which measurement of the fair value was made on a recurring basis.

			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
			(Dollars in thousands)
March 31, 2015
Available for Sale:
U.S. Government Agency Securities	$	11,352	$	—	$	11,352	$	—
Corporate Securities		8,624		—		8,624		—
Mortgage-Backed Securities		34,760		—		34,760		—
Municipal Securities		34,081		—		34,081		—
Other Securities		611		—		611		—
Total	$	89,428	$	—	$	89,428	$	—
December 31, 2014
Available for Sale:
U.S. Government Agency Securities	$	9,142	$	—	$	9,142	$	—
Corporate Securities		—		—		—		—
Mortgage-Backed Securities		34,026		—		34,026		—
Municipal Securities		30,660		—		30,660		—
Other Securities		675		—		675		—
Total	$	74,503	$	—	$	74,503	$	—

Schedule of Bank Records Repossessed Assets as Level 2

The fair value of repossessed assets is based on property appraisals and an analysis of similar properties available. As such, the Bank records repossessed assets as Level 2.

			Quoted Prices in		Significant
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
			(Dollars in thousands)
March 31, 2015
Assets:
Impaired Loans	$	10,751	$	—	$	10,751	$	—
Repossessed Assets		2,957		—		2,957		—
Total	$	13,708	$	—	$	13,708	$	—
December 31, 2014
Assets:
Impaired Loans	$	11,322	$	—	$	11,322	$	—
Repossessed Assets		3,028		—		3,028		—
Total	$	14,350	$	—	$	14,350	$	—

Schedule of Estimated Fair Values of Banks Financial Instruments

The estimated approximate fair values of the Bank’s financial instruments as of March 31, 2015 and December 31, 2014 are as follows:

					Quoted Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying		Total		Assets		Inputs		Inputs
	Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
					(Dollars in thousands)
March 31, 2015
Financial Assets:
Cash and Short-Term Investments	$	39,962	$	39,962	$	39,962	$	—	$	—
Securities		89,428		89,428		—		89,428		—
Loans- Net		572,755		571,374		—		—		571,374
Cash Value of BOLI		17,513		17,513		—		17,513		—
	$	719,658	$	718,277	$	39,962	$	106,941	$	571,374
Financial Liabilities:
Deposits	$	625,646	$	614,682	$	—	$	—	$	614,682
Borrowings		25,000		15,850		—		15,850		—
	$	650,646	$	630,532	$	—	$	15,850	$	614,682

					Quoted Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying		Total		Assets		Inputs		Inputs
	Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
					(Dollars in thousands)
December 31, 2014
Financial Assets:
Cash and Short-Term Investments	$	26,832	$	26,832	$	26,832	$	—	$	—
Securities		74,503		74,503		—		74,503		—
Loans - Net		551,754		551,037		—		—		551,037
Cash Value of BOLI		17,376		17,376		—		17,376		—
	$	670,465	$	669,748	$	26,832	$	91,879	$	551,037
Financial Liabilities:
Deposits	$	587,252	$	581,239	$	—	$	—	$	581,239
Borrowings		15,000		14,986		—		14,986		—
	$	602,252	$	596,225	$	—	$	14,986	$	581,239