falsedesktopBAYK2020-09-30000156459020051817{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer\t☐\tAccelerated filer\t☒\nNon-accelerated filer\t☐\tSmaller reporting company\t☒\n\t\tEmerging growth company\t☐\n", "q10k_tbl_1": "PART I - FINANCIAL INFORMATION\t\nITEM 1. FINANCIAL STATEMENTS\t3\nCONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30 2020 (UNAUDITED) AND DECEMBER 31 2019\t3\nCONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30 2020 AND 2019 (UNAUDITED)\t4\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30 2020 AND 2019 (UNAUDITED)\t5\nCONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30 2020 AND 2019 (UNAUDITED)\t6\nCONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30 2020 AND 2019 (UNAUDITED)\t8\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)\t9\nITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS\t30\nITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK\t43\nITEM 4. CONTROLS AND PROCEDURES\t43\nPART II - OTHER INFORMATION\t\nITEM 1. LEGAL PROCEEDINGS\t44\nITEM 1A. RISK FACTORS\t44\nITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS\t46\nITEM 3. DEFAULTS UPON SENIOR SECURITIES\t46\nITEM 4. MINE SAFETY DISCLOSURES\t46\nITEM 5. OTHER INFORMATION\t46\nITEM 6. EXHIBITS\t47\n", "q10k_tbl_2": "\t(unaudited)\t\n(Dollars in thousands except share data)\tSeptember 30 2020\tDecember 31 2019 (1)\nASSETS\t\t\nCash and due from banks\t9324\t6096\nInterest-earning deposits\t50069\t34358\nFederal funds sold\t152\t1359\nCertificates of deposit\t1266\t2754\nAvailable-for-sale securities at fair value\t87853\t99454\nRestricted securities\t5022\t5706\nLoans receivable net of allowance for loan losses of $12899 and $7562 respectively\t1041711\t916628\nLoans held for sale\t2687\t1231\nPremises and equipment net\t17859\t20141\nAccrued interest receivable\t4664\t3035\nOther real estate owned net\t1113\t1916\nBank owned life insurance\t20103\t19752\nGoodwill\t0\t10374\nMortgage servicing rights\t845\t935\nCore deposit intangible\t1094\t1518\nOther assets\t7820\t6666\nTotal assets\t1251582\t1131923\nLIABILITIES\t\t\nNoninterest-bearing demand deposits\t190843\t137933\nSavings and interest-bearing demand deposits\t424001\t382607\nTime deposits\t412837\t389900\nTotal deposits\t1027681\t910440\nSecurities sold under repurchase agreements\t1117\t6525\nFederal Home Loan Bank advances\t25000\t45000\nFederal Reserve Bank advances\t32637\t0\nSubordinated notes net of issuance costs\t31083\t31001\nOther liabilities\t12635\t12772\nTotal liabilities\t1130153\t1005738\nSHAREHOLDERS' EQUITY\t\t\nCommon stock ($5 par value; authorized - 30000000 shares; outstanding - 13342104 and 13261801 shares respectively) (2)\t66711\t66309\nAdditional paid-in capital\t36816\t36658\nUnearned employee stock ownership plan shares\t(1326)\t(1525)\nRetained earnings\t18012\t24660\nAccumulated other comprehensive income net\t1216\t83\nTotal shareholders' equity\t121429\t126185\nTotal liabilities and shareholders' equity\t1251582\t1131923\n", "q10k_tbl_3": "\tFor the Three Months Ended\t\tFor the Nine Months Ended\t\n(Dollars in thousands except per share data)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nINTEREST INCOME\t\t\t\t\nLoans including fees\t11371\t11930\t34013\t34849\nSecurities:\t\t\t\t\nTaxable\t596\t553\t1821\t1725\nTax-exempt\t88\t113\t270\t327\nFederal funds sold\t0\t6\t2\t31\nInterest-bearing deposit accounts\t6\t145\t119\t432\nCertificates of deposit\t9\t18\t37\t57\nTotal interest income\t12070\t12765\t36262\t37421\nINTEREST EXPENSE\t\t\t\t\nDeposits\t2104\t3123\t7364\t9019\nSecurities sold under repurchase agreements\t0\t4\t3\t11\nSubordinated notes\t510\t142\t1531\t417\nFederal Home Loan Bank advances\t50\t465\t374\t1784\nFederal Reserve Bank advances\t29\t0\t49\t0\nTotal interest expense\t2693\t3734\t9321\t11231\nNet interest income\t9377\t9031\t26941\t26190\nProvision for loan losses\t869\t495\t5673\t871\nNet interest income after provision for loan losses\t8508\t8536\t21268\t25319\nNONINTEREST INCOME\t\t\t\t\nTrust management\t220\t201\t615\t621\nService charges and fees on deposit accounts\t155\t243\t529\t727\nWealth management\t350\t185\t824\t654\nInterchange fees net\t149\t108\t378\t330\nOther service charges and fees\t33\t32\t94\t88\nSecondary market sales and servicing\t1082\t293\t2015\t632\nIncrease in cash surrender value of bank owned life insurance\t117\t122\t351\t362\nNet gains (losses) on sales and calls of available-for-sale securities\t0\t1\t29\t(1)\nNet gains (losses) on disposition of other assets\t12\t0\t5\t(2)\nNet gains (losses) gains on rabbi trust assets\t74\t0\t(76)\t130\nReferral fees\t86\t0\t1052\t0\nOther\t8\t15\t54\t44\nTotal noninterest income\t2286\t1200\t5870\t3585\nNONINTEREST EXPENSE\t\t\t\t\nSalaries and employee benefits\t3801\t3666\t11267\t11532\nOccupancy\t700\t805\t2156\t2510\nData processing\t491\t541\t1526\t1738\nBank franchise tax\t256\t209\t770\t655\nTelecommunications and other technology\t396\t258\t1176\t727\nFDIC assessments\t262\t(7)\t557\t371\nForeclosed property\t22\t48\t58\t110\nConsulting\t54\t156\t195\t418\nAdvertising and marketing\t47\t124\t140\t300\nDirectors' fees\t187\t148\t568\t525\nAudit and accounting\t92\t193\t402\t586\nLegal\t(210)\t20\t135\t130\nCore deposit intangible amortization\t134\t164\t425\t517\nNet other real estate owned losses\t176\t375\t256\t441\nGoodwill impairment\t0\t0\t10374\t0\nMerger-related\t1456\t0\t1456\t0\nOther\t782\t747\t1947\t2108\nTotal noninterest expense\t8646\t7447\t33408\t22668\nIncome (loss) before income taxes\t2148\t2289\t(6270)\t6236\nIncome tax expense\t655\t448\t378\t1180\nNet income (loss)\t1493\t1841\t(6648)\t5056\nBasic and diluted earnings (loss) per share\t0.11\t0.14\t(0.51)\t0.39\n", "q10k_tbl_4": "\tFor the Three Months Ended\t\tFor the Nine Months Ended\t\n(Dollars in thousands)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nNet income (loss)\t1493\t1841\t(6648)\t5056\nOther comprehensive income:\t\t\t\t\nUnrealized holding gain on available-for-sale securities arising during the period\t63\t296\t1463\t2109\nDeferred income tax expense on net unrealized gain on available-for-sale securities\t(13)\t(62)\t(307)\t(443)\nReclassification of net (gains) losses on sales and calls of available-for-sale securities recognized in net income\t0\t(1)\t(29)\t1\nIncome tax expense on net realized gain on available-for-sale securities\t0\t0\t6\t0\nTotal other comprehensive income\t50\t233\t1133\t1667\nComprehensive income (loss)\t1543\t2074\t(5515)\t6723\n", "q10k_tbl_5": "\tFor the Nine Months Ended September 30 2020\t\t\t\t\t\t\n\t\t\t\tEmployee Stock\t\tAccumulated\t\n\tShares of\t\tAdditional\tOwnership\t\tOther\tTotal\n\tCommon\tCommon\tPaid-in\tPlan\tRetained\tComprehensive\tShareholders'\n(Dollars in thousands)\tStock\tStock\tCapital\tShares\tEarnings\tIncome net\tEquity\nBalance at beginning of period\t13261801\t66309\t36658\t(1525)\t24660\t83\t126185\nNet loss\t0\t0\t0\t0\t(6648)\t0\t(6648)\nOther comprehensive income net\t0\t0\t0\t0\t0\t1133\t1133\nStock options exercised net\t16689\t83\t5\t0\t0\t0\t88\nDirector and executive stock grant\t21789\t109\t55\t0\t0\t0\t164\nRestricted stock awards\t45105\t226\t(226)\t0\t0\t0\t0\nShares repurchased pursuant to ESOP\t(3280)\t(16)\t(9)\t0\t0\t0\t(25)\nESOP collateral release\t0\t0\t0\t199\t0\t0\t199\nShare-based compensation expense\t0\t0\t333\t0\t0\t0\t333\nBalance at end of period\t13342104\t66711\t36816\t(1326)\t18012\t1216\t121429\n", "q10k_tbl_6": "\tFor the Nine Months Ended September 30 2019\t\t\t\t\t\t\n\t\t\t\tUnearned\t\t\t\n\t\t\t\tEmployee Stock\t\tAccumulated Other\t\n\tShares of\t\tAdditional\tOwnership\t\tComprehensive\tTotal\n\tCommon\tCommon\tPaid-in\tPlan\tRetained\tIncome (Loss)\tShareholders'\n(Dollars in thousands)\tStock\tStock\tCapital\tShares\tEarnings\tnet\tEquity\nBalance at beginning of period\t13201682\t66008\t36972\t(1734)\t17557\t(1327)\t117476\nNet income\t0\t0\t0\t0\t5056\t0\t5056\nOther comprehensive income net\t0\t0\t0\t0\t0\t1667\t1667\nStock options exercised net\t5173\t26\t(17)\t0\t0\t0\t9\nDirector stock grant\t18396\t92\t56\t0\t0\t0\t148\nRestricted stock awards\t109051\t545\t(545)\t0\t0\t0\t0\nESOP collateral release\t0\t0\t0\t141\t0\t0\t141\nShare-based compensation expense\t0\t0\t315\t0\t0\t0\t315\nCumulative effect adjustment of adoption of accounting principle\t0\t0\t0\t0\t45\t0\t45\nBalance at end of period\t13334302\t66671\t36781\t(1593)\t22658\t340\t124857\n", "q10k_tbl_7": "\tFor the Three Months Ended September 30 2020\t\t\t\t\t\t\n\t\t\t\tUnearned\t\t\t\n\t\t\t\tEmployee Stock\t\tAccumulated\t\n\tShares of\t\tAdditional\tOwnership\t\tOther\tTotal\n\tCommon\tCommon\tPaid-in\tPlan\tRetained\tComprehensive\tShareholders'\n(Dollars in thousands)\tStock\tStock\tCapital\tShares\tEarnings\tIncome net\tEquity\nBalance at beginning of period\t13334049\t66670\t36729\t(1394)\t16519\t1166\t119690\nNet income\t0\t0\t0\t0\t1493\t0\t1493\nOther comprehensive income net\t0\t0\t0\t0\t0\t50\t50\nDirector and executive stock grant\t10055\t51\t9\t0\t0\t0\t60\nRestricted stock forfeitures\t(2000)\t(10)\t10\t0\t0\t0\t0\nESOP collateral release\t0\t0\t0\t68\t0\t0\t68\nShare-based compensation expense\t0\t0\t68\t0\t0\t0\t68\nBalance at end of period\t13342104\t66711\t36816\t(1326)\t18012\t1216\t121429\n", "q10k_tbl_8": "\tFor the Three Months Ended September 30 2019\t\t\t\t\t\t\n\t\t\t\tUnearned\t\t\t\n\t\t\t\tEmployee Stock\t\tAccumulated Other\t\n\tShares of\t\tAdditional\tOwnership\t\tComprehensive\tTotal\n\tCommon\tCommon\tPaid-in\tPlan\tRetained\tIncome (Loss)\tShareholders'\n(Dollars in thousands)\tStock\tStock\tCapital\tShares\tEarnings\tnet\tEquity\nBalance at beginning of period\t13332484\t66662\t36699\t(1668)\t20817\t107\t122617\nNet income\t0\t0\t0\t0\t1841\t0\t1841\nOther comprehensive income net\t0\t0\t0\t0\t0\t233\t233\nRestricted stock awards\t1818\t9\t(9)\t0\t0\t0\t0\nESOP collateral release\t0\t0\t0\t75\t0\t0\t75\nShare-based compensation expense\t0\t0\t91\t0\t0\t0\t91\nBalance at end of period\t13334302\t66671\t36781\t(1593)\t22658\t340\t124857\n", "q10k_tbl_9": "\tFor the Nine Months Ended\t\n(Dollars in thousands)\tSeptember 30 2020\tSeptember 30 2019\nCash Flows From Operating Activities\t\t\nNet (loss) income\t(6648)\t5056\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nGoodwill impairment charge\t10374\t0\nDepreciation and amortization\t1075\t1279\nNet premium amortization on available-for-sale securities\t361\t397\nAmortization of subordinated notes issuance costs\t82\t13\nAmortization of core deposit intangible\t425\t517\nAccretion of fair value adjustment on acquired time deposits\t(59)\t(96)\nAccretion of fair value adjustments on acquired loans\t(381)\t(993)\nProvision for loan losses\t5673\t871\nShare-based compensation expense\t333\t315\nDeferred income tax benefit\t(590)\t0\nIncrease in other real estate owned valuation allowance\t290\t423\n(Gains) losses on sale of other real estate owned\t(34)\t18\nNet (gain) loss on the disposition of fixed and other assets\t(5)\t2\nDecrease in value of mortgage servicing rights\t90\t67\nIncrease in cash surrender value of bank owned life insurance\t(351)\t(362)\nNet (gains) losses on sales and calls of available-for-sale securities\t(29)\t1\nOriginations of loans held for sale (HFS)\t(147289)\t(42847)\nProceeds from HFS loan sales\t147527\t43411\nGain on HFS sold loans\t(1694)\t(464)\nIncrease in other assets and accrued interest receivable\t(702)\t(2914)\n(Decrease) increase in other liabilities\t(117)\t4438\nNet cash provided by operating activities\t8331\t9132\nCash Flows From Investing Activities\t\t\nProceeds from maturities calls and principal paydowns of available-for-sale securities\t24921\t8196\nPurchases of available-for-sale securities\t(12227)\t(5000)\nPurchases of restricted securities net\t684\t916\nMaturities of certificates of deposit\t1488\t248\nDecrease in federal funds sold\t1207\t533\nNet increase in loans\t(130921)\t(30300)\nProceeds from sale of other real estate owned\t1093\t1324\nNet purchases of premises and equipment\t(206)\t(167)\nNet cash used in investing activities\t(113961)\t(24250)\nCash Flows From Financing Activities\t\t\nIncrease in demand savings and other interest-bearing demand deposits\t94304\t23552\nNet increase in time deposits\t22996\t28040\nStock options exercised net\t88\t9\nNet (decrease) increase in securities sold under repurchase agreements and other borrowings\t(5431)\t164\nShares repurchased pursuant to ESOP\t(25)\t0\nDecrease in Federal Home Loan Bank advances\t(20000)\t(32000)\nIncrease in Federal Reserve Bank advances\t32637\t0\nNet cash provided by financing activities\t124569\t19765\nNet increase in cash and due from banks\t18939\t4647\nCash and cash equivalents (including interest-earning deposits) at beginning of period\t40454\t26666\nCash and cash equivalents (including interest-earning deposits) at end of period\t59393\t31313\nSupplemental Schedule of Cash Flow Information\t\t\nCash paid for:\t\t\nInterest\t9425\t11264\nIncome taxes\t650\t0\nNon-cash investing and financing activities:\t\t\nUnrealized gain on available-for-sale securities\t1425\t2109\nLoans transferred to other real estate owned\t546\t346\nChanges in deferred taxes resulting from other comprehensive income transactions\t(301)\t(443)\nCumulative effect adjustment of adoption of accounting principle\t0\t(45)\nEmployee stock ownership plan transactions\t(199)\t(141)\nDirector and executive stock grant\t164\t148\n", "q10k_tbl_10": "\t\tGross\tGross\t\n\tAmortized\tUnrealized\tUnrealized\tFair\nSeptember 30 2020\tCost\tGains\t(Losses)\tValue\nU.S. Government agencies and mortgage backed securities\t47598\t1277\t(5)\t48870\nState and municipal obligations\t18116\t741\t(11)\t18846\nCorporate bonds\t20154\t74\t(91)\t20137\nTotal available-for-sale securities\t85868\t2092\t(107)\t87853\n", "q10k_tbl_11": "\t\tGross\tGross\t\n\tAmortized\tUnrealized\tUnrealized\tFair\nDecember 31 2019\tCost\tGains\t(Losses)\tValue\nU.S. Government agencies and mortgage backed securities\t67491\t284\t(178)\t67597\nState and municipal obligations\t16238\t341\t(3)\t16576\nCorporate bonds\t15165\t116\t0\t15281\nTotal available-for-sale securities\t98894\t741\t(181)\t99454\n", "q10k_tbl_12": "\t\tLess than 12 months\t\t12 months or more\t\tTotal\t\nSeptember 30 2020\tNumber of Securities\tFair Value\tUnrealized Loss\tFair Value\tUnrealized Loss\tFair Value\tUnrealized Loss\nU.S. Government agencies and mortgage backed securities\t4\t392\t(5)\t0\t0\t392\t(5)\nCorporate bonds\t9\t8680\t(91)\t0\t0\t8680\t(91)\nState and municipal obligations\t1\t1194\t(11)\t0\t0\t1194\t(11)\nTotal temporarily impaired securities\t14\t10266\t(107)\t0\t0\t10266\t(107)\n", "q10k_tbl_13": "\t\tLess than 12 months\t\t12 months or more\t\tTotal\t\nDecember 31 2019\tNumber of Securities\tFair Value\tUnrealized Loss\tFair Value\tUnrealized Loss\tFair Value\tUnrealized Loss\nU.S. Government agencies and mortgage backed securities\t38\t12356\t(53)\t16930\t(125)\t29286\t(178)\nState and municipal obligations\t1\t610\t(3)\t0\t0\t610\t(3)\nTotal temporarily impaired securities\t39\t12966\t(56)\t16930\t(125)\t29896\t(181)\n", "q10k_tbl_14": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\nDue in one year or less\t10557\t10578\t10528\t10563\nDue after one year but less than five years\t48326\t49718\t49586\t49921\nDue after five years but less than ten years\t19989\t20453\t33332\t33535\nDue after ten years\t6996\t7104\t5448\t5435\nTotal available-for-sale securities\t85868\t87853\t98894\t99454\n", "q10k_tbl_15": "\tSeptember 30 2020\tDecember 31 2019\nMortgage loans on real estate:\t\t\nResidential first mortgages\t286127\t293913\nCommercial mortgages (non-owner occupied)\t282378\t196143\nConstruction land and land development\t132502\t126010\nCommercial mortgages (owner occupied)\t76225\t82829\nResidential revolving and junior mortgages\t29051\t31893\nCommercial and industrial\t187219\t181730\nPaycheck Protection Program\t56788\t0\nConsumer\t6443\t11985\nTotal loans\t1056733\t924503\nNet unamortized deferred loan fees\t(2123)\t(313)\nAllowance for loan losses\t(12899)\t(7562)\nLoans receivable net\t1041711\t916628\n", "q10k_tbl_16": "\tLoan Count\tPrincipal Balance\t% of Loan Type\nMortgage loans on real estate:\t\t\t\nResidential first mortgages\t14\t2886\t1%\nCommercial mortgages (non-owner occupied)\t23\t47102\t17%\nConstruction land and land development\t13\t22879\t17%\nCommercial mortgages (owner occupied)\t17\t10520\t14%\nResidential revolving and junior mortgages\t1\t257\t1%\nCommercial and industrial\t87\t17575\t9%\nConsumer\t2\t8\t0%\nTotal\t157\t101227\t10%\n", "q10k_tbl_17": "September 30 2020\t30-89 Days Past Due\t90 Days or More Past Due and Still Accruing\tNonaccrual\tTotal Past Due and Nonaccrual\tCurrent\tTotal Loans\nMortgage loans on real estate:\t\t\t\t\t\t\nResidential first mortgages\t768\t13\t2848\t3629\t282498\t286127\nCommercial mortgages (non-owner occupied)\t0\t128\t6107\t6235\t276143\t282378\nConstruction land and land development\t484\t0\t899\t1383\t131119\t132502\nCommercial mortgages (owner occupied)\t48\t21\t208\t277\t75948\t76225\nResidential revolving and junior mortgages\t61\t0\t397\t458\t28593\t29051\nCommercial and industrial\t684\t0\t6553\t7237\t179982\t187219\nPaycheck Protection Program\t0\t0\t0\t0\t56788\t56788\nConsumer\t23\t\t186\t209\t6234\t6443\nTotal loans\t2068\t162\t17198\t19428\t1037305\t1056733\n", "q10k_tbl_18": "December 31 2019\t30-89 Days Past Due\t90 Days or More Past Due and Still Accruing\tNonaccrual\tTotal Past Due and Nonaccrual\tCurrent\tTotal Loans\nMortgage loans on real estate:\t\t\t\t\t\t\nResidential first mortgages\t3904\t16\t1403\t5323\t288590\t293913\nCommercial mortgages (non-owner occupied)\t126\t0\t433\t559\t195584\t196143\nConstruction land and land development\t77\t0\t417\t494\t125516\t126010\nCommercial mortgages (owner occupied)\t173\t0\t587\t760\t82069\t82829\nResidential revolving and junior mortgages\t52\t0\t724\t776\t31117\t31893\nCommercial and industrial\t570\t0\t670\t1240\t180490\t181730\nConsumer\t139\t0\t242\t381\t11604\t11985\nTotal loans\t5041\t16\t4476\t9533\t914970\t924503\n", "q10k_tbl_19": "September 30 2020\t30-89 Days Past Due\t90 Days or More Past Due and Still Accruing\tNonaccrual\tTotal Past Due and Nonaccrual\tCurrent\tTotal PCI Loans\nMortgage loans on real estate:\t\t\t\t\t\t\nResidential first mortgages\t39\t13\t0\t52\t2381\t2433\nCommercial mortgages (non-owner occupied)\t0\t128\t0\t128\t0\t128\nConstruction land and land development\t0\t0\t0\t0\t1368\t1368\nCommercial mortgages (owner occupied)\t0\t21\t0\t21\t203\t224\nResidential revolving and junior mortgages\t0\t0\t0\t0\t0\t0\nCommercial and industrial\t0\t0\t0\t0\t0\t0\nPaycheck Protection Program\t0\t0\t0\t0\t0\t0\nConsumer\t0\t0\t0\t0\t37\t37\nTotal purchased credit-impaired loans\t39\t162\t0\t201\t3989\t4190\n", "q10k_tbl_20": "December 31 2019\t30-89 Days Past Due\t90 Days or More Past Due and Still Accruing\tNonaccrual\tTotal Past Due and Nonaccrual\tCurrent\tTotal PCI Loans\nMortgage loans on real estate:\t\t\t\t\t\t\nResidential first mortgages\t239\t16\t0\t255\t2836\t3091\nCommercial mortgages (non-owner occupied)\t126\t0\t0\t126\t0\t126\nConstruction land and land development\t0\t0\t0\t0\t1357\t1357\nCommercial mortgages (owner occupied)\t25\t0\t0\t25\t229\t254\nResidential revolving and junior mortgages\t0\t0\t0\t0\t0\t0\nCommercial and industrial\t0\t0\t0\t0\t0\t0\nConsumer\t0\t0\t0\t0\t42\t42\nTotal purchased credit-impaired loans\t390\t16\t0\t406\t4464\t4870\n", "q10k_tbl_21": "\tFor the Three Months Ended\t\tFor the Nine Months Ended\t\n\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nBalance at beginning of period\t702\t858\t973\t1083\nAccretion of acquisition accounting adjustment\t(64)\t(121)\t(203)\t(305)\nReclassifications from nonaccretable balance net\t0\t6\t5\t62\nOther changes net\t0\t250\t(137)\t153\nBalance at end of period\t638\t993\t638\t993\n", "q10k_tbl_22": "\tGrade\t\t\t\t\nSeptember 30 2020\tPass\tSpecial Mention\tSubstandard\tDoubtful\tTotal Loans\nResidential first mortgages\t280760\t1890\t3477\t0\t286127\nCommercial mortgages (non-owner occupied)\t236058\t40084\t6236\t0\t282378\nConstruction land and land development\t103472\t26764\t2266\t0\t132502\nCommercial mortgages (owner occupied)\t64993\t10893\t339\t0\t76225\nResidential revolving and junior mortgages\t28140\t514\t397\t0\t29051\nCommercial and industrial\t166650\t14607\t5962\t0\t187219\nPaycheck Protection Program\t56788\t0\t0\t0\t56788\nConsumer\t5704\t541\t198\t0\t6443\nTotal loans\t942565\t95293\t18875\t0\t1056733\n", "q10k_tbl_23": "\tGrade\t\t\t\t\nDecember 31 2019\tPass\tSpecial Mention\tSubstandard\tDoubtful\tTotal Loans\nResidential first mortgages\t290322\t1091\t2500\t0\t293913\nCommercial mortgages (non-owner occupied)\t195584\t0\t559\t0\t196143\nConstruction land and land development\t123916\t0\t2094\t0\t126010\nCommercial mortgages (owner occupied)\t81936\t149\t744\t0\t82829\nResidential revolving and junior mortgages\t31084\t86\t723\t0\t31893\nCommercial and industrial\t177608\t2289\t1833\t0\t181730\nConsumer\t11729\t0\t256\t0\t11985\nTotal loans\t912179\t3615\t8709\t0\t924503\n", "q10k_tbl_24": "September 30 2020\tMortgage Loans on Real Estate\tCommercial and Industrial\tConsumer\tTotal\nAllowance for loan losses applicable to:\t\t\t\t\nLoans individually evaluated for impairment\t2036\t746\t105\t2887\nLoans collectively evaluated for impairment\t7551\t2143\t318\t10012\nPurchased credit-impaired loans\t0\t0\t0\t0\nTotal allowance for loan losses\t9587\t2889\t423\t12899\nLoan balances applicable to:\t\t\t\t\nLoans individually evaluated for impairment\t12249\t5754\t105\t18108\nLoans collectively evaluated for impairment\t789881\t238253\t6301\t1034435\nPurchased credit-impaired loans\t4153\t0\t37\t4190\nTotal loans\t806283\t244007\t6443\t1056733\nDecember 31 2019\t\t\t\t\nAllowance for loan losses applicable to:\t\t\t\t\nLoans individually evaluated for impairment\t878\t49\t112\t1039\nLoans collectively evaluated for impairment\t4494\t1522\t507\t6523\nPurchased credit-impaired loans\t0\t0\t0\t0\nTotal allowance for loan losses\t5372\t1571\t619\t7562\nLoan balances applicable to:\t\t\t\t\nLoans individually evaluated for impairment\t5502\t455\t112\t6069\nLoans collectively evaluated for impairment\t720458\t181275\t11831\t913564\nPurchased credit-impaired loans\t4828\t0\t42\t4870\nTotal loans\t730788\t181730\t11985\t924503\n", "q10k_tbl_25": "For the Three Months Ended September 30 2020\tMortgage Loans on Real Estate\tCommercial and Industrial\tConsumer\tTotal\nBeginning of period\t8863\t2626\t518\t12007\nCharge-offs\t(64)\t0\t(47)\t(111)\nRecoveries\t72\t0\t62\t134\nProvision (recovery of)\t716\t263\t(110)\t869\nEnding of period\t9587\t2889\t423\t12899\nFor the Three Months Ended September 30 2019\tMortgage Loans on Real Estate\tCommercial and Industrial\tConsumer\tTotal\nBeginning of period\t5052\t1537\t890\t7479\nCharge-offs\t(209)\t0\t(345)\t(554)\nRecoveries\t24\t1\t50\t75\nProvision\t214\t114\t167\t495\nEnding of period\t5081\t1652\t762\t7495\nFor the Nine Months Ended September 30 2020\tMortgage Loans on Real Estate\tCommercial and Industrial\tConsumer\tTotal\nBeginning of period\t5372\t1571\t619\t7562\nCharge-offs\t(315)\t0\t(303)\t(618)\nRecoveries\t84\t0\t198\t282\nProvision (recovery of)\t4446\t1318\t(91)\t5673\nEnding of period\t9587\t2889\t423\t12899\nFor the Nine Months Ended September 30 2019\tMortgage Loans on Real Estate\tCommercial and Industrial\tConsumer\tTotal\nBeginning of period\t4967\t1374\t1561\t7902\nCharge-offs\t(368)\t0\t(1163)\t(1531)\nRecoveries\t67\t1\t185\t253\nProvision\t415\t277\t179\t871\nEnding of period\t5081\t1652\t762\t7495\n", "q10k_tbl_26": "\tAs of September 30 2020\t\t\tAs of December 31 2019\t\t\n\tRecorded Investment\tBorrowers' Unpaid Principal Balance\tRelated Allowance\tRecorded Investment\tBorrowers' Unpaid Principal Balance\tRelated Allowance\nWith no related allowance:\t\t\t\t\t\t\nResidential first mortgages\t712\t712\t0\t510\t510\t0\nCommercial mortgages (non-owner occupied)\t3270\t3270\t0\t0\t0\t0\nConstruction land and land development\t15\t15\t0\t17\t17\t0\nCommercial mortgages (owner occupied)\t361\t361\t0\t419\t419\t0\nResidential revolving and junior mortgages\t0\t0\t0\t0\t0\t0\nCommercial and industrial\t1014\t1014\t0\t0\t0\t0\nConsumer\t0\t0\t0\t0\t0\t0\nTotal impaired loans with no related allowance\t5372\t5372\t0\t946\t946\t0\nWith an allowance recorded:\t\t\t\t\t\t\nResidential first mortgages\t3585\t3585\t763\t2857\t2857\t676\nCommercial mortgages (non-owner occupied)\t2838\t2838\t651\t433\t433\t58\nConstruction land and land development\t766\t766\t546\t171\t171\t44\nCommercial mortgages (owner occupied)\t657\t657\t31\t1048\t1048\t53\nResidential revolving and junior mortgages\t45\t45\t45\t47\t47\t47\nCommercial and industrial\t4740\t4740\t746\t455\t455\t49\nConsumer\t105\t105\t105\t112\t112\t112\nTotal impaired loans with allowance recorded\t12736\t12736\t2887\t5123\t5123\t1039\nTotal impaired loans:\t\t\t\t\t\t\nResidential first mortgages\t4297\t4297\t763\t3367\t3367\t676\nCommercial mortgages (non-owner occupied)\t6108\t6108\t651\t433\t433\t58\nConstruction land and land development\t781\t781\t546\t188\t188\t44\nCommercial mortgages (owner occupied)\t1018\t1018\t31\t1467\t1467\t53\nResidential revolving and junior mortgages\t45\t45\t45\t47\t47\t47\nCommercial and industrial\t5754\t5754\t746\t455\t455\t49\nConsumer\t105\t105\t105\t112\t112\t112\nTotal impaired loans\t18108\t18108\t2887\t6069\t6069\t1039\n", "q10k_tbl_27": "\tFor the Three Months Ended\t\t\t\n\tSeptember 30 2020\t\tSeptember 30 2019\t\n\tAverage Recorded Investment\tInterest Income Recognized\tAverage Recorded Investment\tInterest Income Recognized\nWith no related allowance:\t\t\t\t\nResidential first mortgages\t714\t8\t1039\t14\nCommercial mortgages (non-owner occupied)\t3263\t23\t0\t0\nConstruction land and land development\t15\t0\t326\t1\nCommercial mortgages (owner occupied)\t363\t7\t427\t6\nResidential revolving and junior mortgages\t0\t0\t0\t0\nCommercial and industrial\t1024\t13\t0\t0\nConsumer\t0\t0\t0\t0\nTotal impaired loans with no allowance\t5379\t51\t1792\t21\nWith an allowance recorded:\t\t\t\t\nResidential first mortgages\t3595\t19\t3039\t34\nCommercial mortgages (non-owner occupied)\t1635\t22\t434\t3\nConstruction land and land development\t768\t5\t175\t3\nCommercial mortgages (owner occupied)\t656\t8\t1055\t14\nResidential revolving and junior mortgages\t46\t1\t128\t2\nCommercial and industrial\t3561\t64\t1344\t30\nConsumer\t108\t0\t118\t2\nTotal impaired loans with allowance recorded\t10369\t119\t6293\t88\nTotal impaired loans:\t\t\t\t\nResidential first mortgages\t4309\t27\t4078\t48\nCommercial mortgages (non-owner occupied)\t4898\t45\t434\t3\nConstruction land and land development\t783\t5\t501\t4\nCommercial mortgages (owner occupied)\t1019\t15\t1482\t20\nResidential revolving and junior mortgages\t46\t1\t128\t2\nCommercial and industrial\t4585\t77\t1344\t30\nConsumer\t108\t0\t118\t2\nTotal impaired loans\t15748\t170\t8085\t109\n", "q10k_tbl_28": "\tFor the Nine Months Ended\t\t\t\n\tSeptember 30 2020\t\tSeptember 30 2019\t\n\tAverage Recorded Investment\tInterest Income Recognized\tAverage Recorded Investment\tInterest Income Recognized\nWith no related allowance:\t\t\t\t\nResidential first mortgages\t519\t20\t1113\t43\nCommercial mortgages (non-owner occupied)\t1632\t43\t0\t0\nConstruction land and land development\t16\t1\t330\t4\nCommercial mortgages (owner occupied)\t365\t19\t405\t20\nResidential revolving and junior mortgages\t0\t0\t0\t0\nCommercial and industrial\t512\t25\t0\t0\nConsumer\t0\t0\t0\t0\nTotal impaired loans with no allowance\t3044\t108\t1848\t67\nWith an allowance recorded:\t\t\t\t\nResidential first mortgages\t3262\t55\t3181\t93\nCommercial mortgages (non-owner occupied)\t1034\t32\t436\t30\nConstruction land and land development\t468\t11\t224\t18\nCommercial mortgages (owner occupied)\t658\t25\t1061\t42\nResidential revolving and junior mortgages\t46\t3\t397\t7\nCommercial and industrial\t1918\t105\t672\t30\nConsumer\t109\t0\t119\t6\nTotal impaired loans with allowance recorded\t7495\t231\t6090\t226\nTotal impaired loans:\t\t\t\t\nResidential first mortgages\t3781\t75\t4294\t136\nCommercial mortgages (non-owner occupied)\t2666\t75\t436\t30\nConstruction land and land development\t484\t12\t554\t22\nCommercial mortgages (owner occupied)\t1023\t44\t1466\t62\nResidential revolving and junior mortgages\t46\t3\t397\t7\nCommercial and industrial\t2430\t130\t672\t30\nConsumer\t109\t0\t119\t6\nTotal impaired loans\t10539\t339\t7938\t293\n", "q10k_tbl_29": "\tSeptember 30 2020\tDecember 31 2019\nNonaccrual loans\t17198\t4476\nNonaccrual loans collectively evaluated for impairment\t(1512)\t(1895)\nNonaccrual impaired loans\t15686\t2581\nTDRs on accrual\t2422\t3270\nOther impaired loans on accrual\t0\t218\nTotal impaired loans\t18108\t6069\n", "q10k_tbl_30": "\tFor the Three Months Ended\t\t\t\t\t\n\tSeptember 30 2020\t\t\tSeptember 30 2019\t\t\n\tNumber of Loans\tPre-Modification Outstanding Recorded Investment\tPost-Modification Outstanding Recorded Investment\tNumber of Loans\tPre-Modification Outstanding Recorded Investment\tPost-Modification Outstanding Recorded Investment\nCommercial mortgages (non-owner occupied) (1)\t1\t220\t220\t0\t0\t0\n", "q10k_tbl_31": "\tFor the Nine Months Ended\t\t\t\t\t\n\tSeptember 30 2020\t\t\tSeptember 30 2019\t\t\n\tNumber of Loans\tPre-Modification Outstanding Recorded Investment\tPost-Modification Outstanding Recorded Investment\tNumber of Loans\tPre-Modification Outstanding Recorded Investment\tPost-Modification Outstanding Recorded Investment\nResidential first mortgages (1)\t1\t391\t391\t0\t0\t0\nCommercial mortgages (owner occupied) (2)\t0\t0\t0\t1\t48\t52\nCommercial mortgages (non-owner occupied) (2)\t1\t220\t220\t0\t0\t0\n", "q10k_tbl_32": "\tAccruing\tNonaccrual\tTotal\nBalance as of December 31 2019\t3270\t1352\t4622\nCharge-offs\t(183)\t(327)\t(510)\nPayments and other adjustments\t(615)\t(36)\t(651)\nNew TDR designation\t0\t611\t611\nRelease TDR designation\t(50)\t0\t(50)\nTransfer\t0\t0\t0\nBalance as of September 30 2020\t2422\t1600\t4022\n", "q10k_tbl_33": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tNumber of\tCarrying\tNumber of\tCarrying\n\tProperties\tValue\tProperties\tValue\nResidential\t4\t228\t4\t302\nLand\t8\t625\t13\t1354\nCommercial properties\t1\t260\t1\t260\nTotal other real estate owned net\t13\t1113\t18\t1916\n", "q10k_tbl_34": "\tSeptember 30 2020\nOperating lease right-of-use assets\t3708\nCurrent operating lease liabilities\t867\nNoncurrent lease liabilities\t3091\nTotal operating lease liabilities\t3958\n", "q10k_tbl_35": "2020\t220\n2021\t995\n2022\t619\n2023\t370\n2024\t380\nThereafter\t1908\nTotal\t4492\nLess interest\t(534)\nLease liability\t3958\n", "q10k_tbl_36": "\tFor the Nine Months Ended\t\n\tSeptember 30 2020\tSeptember 30 2019\nCash paid for amount included in the measurement of lease liabilities:\t\t\nOperating cash flows from operating leases\t746\t744\nRight-of-use assets obtained in exchange for new operating lease liabilities\t0\t1304\n", "q10k_tbl_37": "\tFor the Three Months Ended September 30\t\tFor the Nine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nNet income (loss)\t1493\t1841\t(6648)\t5056\nWeighted average shares outstanding basic\t13090035\t13077600\t13075761\t13046694\nDilutive shares:\t\t\t\t\nStock options\t12679\t32756\t0\t33034\nRestricted shares\t35276\t22103\t0\t12639\nWeighted average shares outstanding dilutive\t13137990\t13132459\t13075761\t13092367\nBasic and diluted income (loss) per share\t0.11\t0.14\t(0.51)\t0.39\n", "q10k_tbl_38": "\t\t\tStated\tMaturity\n\tBalance\tOriginated\tInterest Rate\tDate\nConvertible\t10000\t2/28/2020\t0.56%\t2/28/2030\nFixed rate credit\t5000\t9/8/2020\t0.24%\t10/8/2020\nFixed rate credit\t10000\t9/24/2020\t0.22%\t10/23/2020\nTotal FHLB borrowings\t25000\t\t\t\n", "q10k_tbl_39": "\t\tFair Value Measurements as of September 30 2020 Using\t\t\n\tBalance as of September 30 2020\tLevel 1\tLevel 2\tLevel 3\nAvailable-for-sale securities:\t\t\t\t\nU. S. Government agencies and mortgage backed securities\t48870\t0\t48870\t0\nState and municipal obligations\t18846\t0\t18846\t0\nCorporate bonds\t20137\t0\t14464\t5673\nTotal available-for-sale securities\t87853\t0\t82180\t5673\nMSR assets\t845\t0\t0\t845\nRabbi trust assets\t959\t959\t0\t0\n", "q10k_tbl_40": "\t\tFair Value Measurements as of December 31 2019 Using\t\t\n\tBalance as of December 31 2019\tLevel 1\tLevel 2\tLevel 3\nAvailable-for-sale securities:\t\t\t\t\nU. S. Government agencies and mortgage backed securities\t67597\t7024\t60573\t0\nState and municipal obligations\t16576\t0\t16576\t0\nCorporate bonds\t15281\t2000\t10631\t2650\nTotal available-for-sale securities\t99454\t9024\t87780\t2650\nMSR assets\t935\t0\t0\t935\nRabbi trust assets\t1082\t1082\t0\t0\n", "q10k_tbl_41": "\tMSR Assets\tCorporate Bonds\nBalance as of January 1 2020\t935\t2650\nPurchases\t0\t1000\nTransfers from Level 2 to Level 3\t0\t2028\nFair value adjustments\t(90)\t(5)\nSales\t0\t0\nBalance as of September 30 2020\t845\t5673\n", "q10k_tbl_42": "\t\tFair Value Measurements as of September 30 2020 Using\t\t\n\tBalance as of September 30 2020\tLevel 1\tLevel 2\tLevel 3\nImpaired loans net\t9849\t0\t0\t9849\nOther real estate owned net\t1113\t0\t0\t1113\n", "q10k_tbl_43": "\t\tFair Value Measurements as of December 31 2019 Using\t\t\n\tBalance as of December 31 2019\tLevel 1\tLevel 2\tLevel 3\nImpaired loans net\t4084\t0\t0\t4084\nOther real estate owned net\t1916\t0\t0\t1916\n", "q10k_tbl_44": "\tBalance as of September 30 2020\tValuation Technique\tUnobservable Input\tRange (Weighted Average)\nImpaired loans net\t9849\tDiscounted appraised value\tSelling Cost Lack of Marketability\t7% 13%-93% (23%)\n\t\tDiscounted cash flows\tDiscount rate\t6%-7% (6%)\n\t\tEnterprise Value (\"EV\")\tEV Multiple\t7.0-12.9 (7.1)\nOther real estate owned net\t1113\tDiscounted appraised value\tSelling Cost Lack of Marketability\t0%-8% (6%) 41%-65% (58%)\n", "q10k_tbl_45": "\tBalance as of December 31 2019\tValuation Technique\tUnobservable Input\tRange (Weighted Average)\nImpaired loans net\t4084\tDiscounted appraised value\tSelling Cost Lack of Marketability\t7% 13%-100% (24%)\n\t\tDiscounted cash flows\tDiscount rate\t6%-7% (6%)\nOther real estate owned net\t1916\tDiscounted appraised value\tSelling Cost Lack of Marketability\t6%-10% (8%) 18%-100% (47%)\n", "q10k_tbl_46": "\tCarrying Value as of\tFair Value as of\tFair Value Measurements as of September 30 2020 Using\t\t\n\tSeptember 30 2020\tSeptember 30 2020\tLevel 1\tLevel 2\tLevel 3\nFinancial Assets:\t\t\t\t\t\nCash and due from banks\t9324\t9324\t9324\t0\t0\nInterest-earning deposits\t50069\t50069\t50069\t0\t0\nFederal funds sold\t152\t152\t152\t0\t0\nCertificates of deposit\t1266\t1266\t0\t1266\t0\nRestricted securities\t5022\t5022\t0\t0\t5022\nLoans receivable net\t1041711\t1041429\t0\t0\t1041429\nLoans held for sale\t2687\t2687\t0\t2687\t0\nAccrued interest receivable\t4664\t4664\t0\t4664\t0\nFinancial Liabilities:\t\t\t\t\t\nNoninterest-bearing demand deposits\t190843\t190843\t190843\t0\t0\nSavings and interest-bearing demand deposits\t424001\t424001\t424001\t0\t0\nTime deposits\t412837\t419752\t0\t0\t419752\nSecurities sold under repurchase agreements\t1117\t1117\t1117\t0\t0\nFHLB advances\t25000\t24849\t0\t24849\t0\nFRB advances\t32637\t32637\t32637\t0\t0\nSubordinated notes net\t31083\t33087\t0\t0\t33087\n", "q10k_tbl_47": "\tCarrying Value as of\tFair Value as of\tFair Value Measurements as of December 31 2019 Using\t\t\n\tDecember 31 2019\tDecember 31 2019\tLevel 1\tLevel 2\tLevel 3\nFinancial Assets:\t\t\t\t\t\nCash and due from banks\t6096\t6096\t6096\t0\t0\nInterest-earning deposits\t34358\t34358\t34358\t0\t0\nFederal funds sold\t1359\t1359\t1359\t0\t0\nCertificates of deposit\t2754\t2754\t0\t2754\t0\nRestricted securities\t5706\t5706\t0\t0\t5706\nLoans receivable net\t916628\t910678\t0\t0\t910678\nLoans held for sale\t1231\t1231\t0\t1231\t0\nAccrued interest receivable\t3035\t3035\t0\t3035\t0\nFinancial Liabilities:\t\t\t\t\t\nNoninterest-bearing demand deposits\t137933\t137933\t137933\t0\t0\nSavings and interest-bearing demand deposits\t382607\t382607\t382607\t0\t0\nTime deposits\t389900\t392562\t0\t0\t392562\nSecurities sold under repurchase agreements\t6525\t6525\t6525\t0\t0\nFHLB advances\t45000\t44936\t0\t44936\t0\nSubordinated notes net\t31001\t32552\t0\t0\t32552\n", "q10k_tbl_48": "\tFor the Three Months Ended September 30 2020\t\t\n\tNet Unrealized Gains on Available-for-Sale Securities\tPension and Post-retirement Benefit Plans\tAccumulated Other Comprehensive Income net\nBalance as of July 1 2020\t1520\t(354)\t1166\nChange in net unrealized holding gain on available-for-sale securities net of deferred income tax expense of $13\t50\t0\t50\nBalance as of September 30 2020\t1570\t(354)\t1216\n\tFor the Three Months Ended September 30 2019\t\t\n\tNet Unrealized Gains on Available-for-Sale Securities\tPension and Post-retirement Benefit Plans\tAccumulated Other Comprehensive Income net\nBalance as of July 1 2019\t182\t(75)\t107\nChange in net unrealized holding gain on available-for-sale securities net of deferred income tax expense of $62\t233\t0\t233\nBalance as of September 30 2019\t415\t(75)\t340\n", "q10k_tbl_49": "\tFor the Nine Months Ended September 30 2020\t\t\n\tNet Unrealized Gains on Available-for-Sale Securities\tPension and Post-retirement Benefit Plans\tAccumulated Other Comprehensive Income net\nBalance as of January 1 2020\t437\t(354)\t83\nChange in net unrealized holding gain on available-for-sale securities net of deferred tax expense of $307\t1156\t0\t1156\nReclassification for previously unrealized net gains recognized in net income net of income tax expense of $6\t(23)\t0\t(23)\nBalance as of September 30 2020\t1570\t(354)\t1216\n\tFor the Nine Months Ended September 30 2019\t\t\n\tNet Unrealized Gains (Losses) on Available-for-Sale Securities\tPension and Post-retirement Benefit Plans\tAccumulated Other Comprehensive Income (Loss) net\nBalance as of January 1 2019\t(1252)\t(75)\t(1327)\nChange in net unrealized holding gain on available-for-sale securities net of deferred income tax expense of $443\t1667\t0\t1667\nBalance as of September 30 2019\t415\t(75)\t340\n", "q10k_tbl_50": "\tAverage Balances Income and Expense Yields and Rates\t\t\t\t\t\t\t\t\n\tAs of and For the Three Months Ended September 30\t\t\t\t\t\t\t\t\n\t2020\t\t\t2019\t\t\t2020 Compared to 2019\t\t\n\tAverage\tIncome/\tYield/\tAverage\tIncome/\tYield/\tIncome/ Expense\tVariance Attributable to (8)\t\n\tBalance\tExpense\tCost\tBalance\tExpense\tCost\tVariance\tRate\tVolume\nASSETS:\t\t\t\t\t\t\t\t\t\nTaxable securities\t83990\t596\t2.82%\t71752\t553\t3.06%\t43\t(51)\t94\nTax-exempt securities (1)\t14558\t111\t3.04%\t16086\t143\t3.53%\t(32)\t(18)\t(14)\nTotal securities\t98548\t707\t2.86%\t87838\t696\t3.14%\t11\t(69)\t81\nGross loans (2) (3)\t1057005\t11371\t4.28%\t923606\t11930\t5.12%\t(559)\t(2277)\t1718\nInterest-earning deposits and federal funds sold\t35336\t6\t0.07%\t28301\t151\t2.12%\t(145)\t(182)\t37\nCertificates of deposits\t1781\t9\t2.01%\t3498\t18\t2.04%\t(9)\t(0)\t(9)\nTotal interest-earning assets\t1192670\t12093\t4.03%\t1043243\t12795\t4.87%\t(702)\t(2529)\t1828\nNoninterest-earning assets\t54319\t\t\t62168\t\t\t\t\t\nTotal average assets\t1246989\t\t\t1105411\t\t\t\t\t\nLIABILITIES:\t\t\t\t\t\t\t\t\t\nSavings deposits\t64852\t17\t0.10%\t57770\t40\t0.27%\t(23)\t(28)\t5\nDemand deposits\t86863\t22\t0.10%\t71905\t26\t0.14%\t(4)\t(9)\t5\nTime deposits (4)\t407866\t1743\t1.70%\t392868\t2163\t2.18%\t(420)\t(502)\t82\nMoney market deposits\t266691\t322\t0.48%\t241360\t894\t1.47%\t(572)\t(666)\t94\nTotal interest-bearing deposits\t826272\t2104\t1.01%\t763903\t3123\t1.62%\t(1019)\t(1205)\t186\nSecurities sold under repurchase agreements\t1097\t1\t0.36%\t6439\t4\t0.25%\t(3)\t0\t(3)\nSubordinated notes and ESOP debt\t32436\t510\t6.24%\t8550\t142\t6.59%\t367\t(29)\t396\nFHLB advances\t33370\t50\t0.60%\t72500\t465\t2.54%\t(415)\t(165)\t(250)\nFRB advances\t32637\t29\t0.35%\t0\t0\t0.00%\t29\t29\t0\nTotal interest-bearing liabilities\t925812\t2694\t1.16%\t851392\t3734\t1.74%\t(1040)\t(1369)\t328\nNoninterest-bearing deposits\t188852\t\t\t123541\t\t\t\t\t\nOther noninterest-bearing liabilities\t11755\t\t\t9919\t\t\t\t\t\nTotal average liabilities\t1126419\t\t\t984852\t\t\t\t\t\nAverage shareholders' equity\t120570\t\t\t120559\t\t\t\t\t\nTotal average liabilities and shareholders' equity\t1246989\t\t\t1105411\t\t\t\t\t\nNet interest income and NIM (5)\t\t9399\t3.14%\t\t9061\t3.45%\t338\t(1160)\t1499\nTotal cost of funds (6)\t\t\t0.96%\t\t\t1.52%\t\t\t\nNet interest spread (7)\t\t\t2.88%\t\t\t3.13%\t\t\t\n", "q10k_tbl_51": "\tAverage Balances Income and Expense Yields and Rates\t\t\t\t\t\t\t\t\n\tAs of and For the Nine Months Ended September 30\t\t\t\t\t\t\t\t\n\t2020\t\t\t2019\t\t\t2020 Compared to 2019\t\t\n\tAverage\tIncome/\tYield/\tAverage\tIncome/\tYield/\tIncome/ Expense\tVariance Attributable to (8)\t\n\tBalance\tExpense\tCost\tBalance\tExpense\tCost\tVariance\tRate\tVolume\nASSETS:\t\t\t\t\t\t\t\t\t\nTaxable securities\t84408\t1821\t2.88%\t70549\t1725\t3.27%\t96\t(243)\t339\nTax-exempt securities (1)\t14802\t343\t3.10%\t17436\t414\t3.17%\t(71)\t(8)\t(63)\nTotal securities\t99210\t2164\t2.91%\t87985\t2139\t3.25%\t25\t(251)\t277\nGross loans (2) (3)\t1007142\t34013\t4.51%\t916289\t34849\t5.08%\t(836)\t(4295)\t3459\nInterest-earning deposits and federal funds sold\t34836\t119\t0.46%\t27088\t463\t2.29%\t(344)\t(476)\t133\nCertificates of deposits\t2415\t37\t2.05%\t3653\t57\t2.09%\t(20)\t(1)\t(19)\nTotal interest-earning assets\t1143603\t36333\t4.24%\t1035015\t37508\t4.85%\t(1175)\t(5022)\t3848\nNoninterest-earning assets\t63543\t\t\t61893\t\t\t\t\t\nTotal average assets\t1207146\t\t\t1096908\t\t\t\t\t\nLIABILITIES:\t\t\t\t\t\t\t\t\t\nSavings deposits\t61005\t74\t0.16%\t57648\t128\t0.30%\t(54)\t(61)\t7\nDemand deposits\t79833\t67\t0.11%\t73727\t95\t0.17%\t(28)\t(36)\t8\nTime deposits (4)\t408990\t5724\t1.87%\t382179\t6036\t2.11%\t(312)\t(736)\t424\nMoney market deposits\t263845\t1499\t0.76%\t239548\t2760\t1.54%\t(1261)\t(1541)\t280\nTotal interest-bearing deposits\t813673\t7364\t1.21%\t753102\t9019\t1.60%\t(1655)\t(2374)\t719\nSecurities sold under repurchase agreements\t2171\t3\t0.18%\t6418\t11\t0.23%\t(8)\t0\t(8)\nSubordinated notes and ESOP debt\t32470\t1531\t6.30%\t8578\t417\t6.50%\t1114\t(49)\t1163\nFHLB advances\t37354\t374\t1.34%\t86015\t1784\t2.77%\t(1410)\t(400)\t(1010)\nFRB advances\t18492\t49\t0.35%\t0\t0\t0.00%\t49\t49\t0\nTotal interest-bearing liabilities\t904160\t9321\t1.38%\t854113\t11231\t1.76%\t(1910)\t(2774)\t863\nNoninterest-bearing deposits\t166012\t\t\t116055\t\t\t\t\t\nOther noninterest-bearing liabilities\t11829\t\t\t7404\t\t\t\t\t\nTotal average liabilities\t1082001\t\t\t977572\t\t\t\t\t\nAverage shareholders' equity\t125145\t\t\t119336\t\t\t\t\t\nTotal average liabilities and shareholders' equity\t1207146\t\t\t1096908\t\t\t\t\t\nNet interest income and NIM (5)\t\t27012\t3.16%\t\t26277\t3.39%\t735\t(2249)\t2985\nTotal cost of funds (6)\t\t\t1.16%\t\t\t1.55%\t\t\t\nNet interest spread (7)\t\t\t2.87%\t\t\t3.09%\t\t\t\n", "q10k_tbl_52": "\tThree Months Ended\t\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\t Change\t% Change\t\nTrust management\t220\t201\t19\t9.5%\t\nService charges and fees on deposit accounts\t155\t243\t(88)\t(36.2\t%)\nWealth management\t350\t185\t165\t89.2%\t\nInterchange fees net\t149\t108\t41\t38.0%\t\nOther service charges and fees\t33\t32\t1\t3.1%\t\nSecondary market sales and servicing\t1082\t293\t789\t269.3%\t\nIncrease in cash surrender value of bank owned life insurance\t117\t122\t(5)\t(4.1\t%)\nNet gains on sales and calls of available-for-sale securities\t0\t1\t(1)\t(100.0\t%)\nNet gains on disposition of other assets\t12\t0\t12\t100.0%\t\nNet gains on rabbi trust assets\t74\t0\t74\t100.0%\t\nReferral fees\t86\t0\t86\t100.0%\t\nOther\t8\t15\t(7)\t(46.7\t%)\nTotal noninterest income\t2286\t1200\t1086\t90.5%\t\n", "q10k_tbl_53": "\tNine Months Ended\t\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\t Change\t% Change\t\nTrust management\t615\t621\t(6)\t(1.0\t%)\nService charges and fees on deposit accounts\t529\t727\t(198)\t(27.2\t%)\nWealth management\t824\t654\t170\t26.0%\t\nInterchange fees net\t378\t330\t48\t14.5%\t\nOther service charges and fees\t94\t88\t6\t6.8%\t\nSecondary market sales and servicing\t2015\t632\t1383\t218.8%\t\nIncrease in cash surrender value of bank owned life insurance\t351\t362\t(11)\t(3.0\t%)\nNet gains (losses) on sales and calls of available-for-sale securities\t29\t(1)\t30\tn/m\t\nNet gains (losses) on disposition of other assets\t5\t(2)\t7\tn/m\t\nNet (losses) gains on rabbi trust assets\t(76)\t130\t(206)\t(158.5\t%)\nReferral fees\t1052\t0\t1052\t100.0%\t\nOther\t54\t44\t10\t22.7%\t\nTotal noninterest income\t5870\t3585\t2285\t63.7%\t\n", "q10k_tbl_54": "\tThree Months Ended\t\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\t Change\t% Change\t\nSalaries and employee benefits\t3801\t3666\t135\t3.7%\t\nOccupancy\t700\t805\t(105)\t(13.0\t%)\nData processing\t491\t541\t(50)\t(9.2\t%)\nBank franchise tax\t256\t209\t47\t22.5%\t\nTelecommunications and other technology\t396\t258\t138\t53.5%\t\nFDIC assessments\t262\t(7)\t269\tn/m\t\nForeclosed property\t22\t48\t(26)\t(54.2\t%)\nConsulting\t54\t156\t(102)\t(65.4\t%)\nAdvertising and marketing\t47\t124\t(77)\t(62.1\t%)\nDirectors' fees\t187\t148\t39\t26.4%\t\nAudit and accounting\t92\t193\t(101)\t(52.3\t%)\nLegal\t(210)\t20\t(230)\tn/m\t\nCore deposit intangible amortization\t134\t164\t(30)\t(18.3\t%)\nNet other real estate owned losses\t176\t375\t(199)\t(53.1\t%)\nMerger-related\t1456\t0\t1456\t100.0%\t\nOther\t782\t747\t35\t4.7%\t\nTotal noninterest expense\t8646\t7447\t1199\t16.1%\t\n", "q10k_tbl_55": "\tNine Months Ended\t\t\t\t\n\tSeptember 30 2020\tSeptember 30 2019\t Change\t% Change\t\nSalaries and employee benefits\t11267\t11532\t(265)\t(2.3\t%)\nOccupancy\t2156\t2510\t(354)\t(14.1\t%)\nData processing\t1526\t1738\t(212)\t(12.2\t%)\nBank franchise tax\t770\t655\t115\t17.6%\t\nTelecommunications and other technology\t1176\t727\t449\t61.8%\t\nFDIC assessments\t557\t371\t186\t50.1%\t\nForeclosed property\t58\t110\t(52)\t(47.3\t%)\nConsulting\t195\t418\t(223)\t(53.3\t%)\nAdvertising and marketing\t140\t300\t(160)\t(53.3\t%)\nDirectors' fees\t568\t525\t43\t8.2%\t\nAudit and accounting\t402\t586\t(184)\t(31.4\t%)\nLegal\t135\t130\t5\t3.8%\t\nCore deposit intangible amortization\t425\t517\t(92)\t(17.8\t%)\nNet other real estate owned losses\t256\t441\t(185)\t(42.0\t%)\nGoodwill impairment\t10374\t0\t10374\t100.0%\t\nMerger-related\t1456\t0\t1456\t100.0%\t\nOther\t1947\t2108\t(161)\t(7.6\t%)\nTotal noninterest expense\t33408\t22668\t10740\t47.4%\t\n", "q10k_tbl_56": "\tThree Months Ended\t\tNine Months Ended\t\n\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nIncome tax expense\t655\t448\t378\t1180\nEffective income tax rate\t30.5%\t19.6%\t6.0%\t18.9%\n", "q10k_tbl_57": "Loan Count\t\tPrincipal Balance\t% of Loan Type\nMortgage loans on real estate:\t\t\t\nResidential first mortgages\t14\t2886\t1%\nCommercial mortgages (non-owner occupied)\t23\t47102\t17%\nConstruction land and land development\t13\t22879\t17%\nCommercial mortgages (owner occupied)\t17\t10520\t14%\nResidential revolving and junior mortgages\t1\t257\t1%\nCommercial and industrial\t87\t17575\t9%\nConsumer\t2\t8\t0%\nTotal\t157\t101227\t10%\n", "q10k_tbl_58": "\tSeptember 30 2020\tDecember 31 2019\nLoans past due 90 days or more and still accruing (1)\t0\t0\nNonaccrual loans (1)\t17198\t4476\nTotal nonperforming loans\t17198\t4476\nOther real estate owned net\t1113\t1916\nTotal nonperforming assets\t18311\t6392\nAllowance for loan losses\t12899\t7562\nGross loans\t1054610\t924190\nTotal assets\t1251582\t1131923\nAllowance for loan losses to gross loans\t1.22%\t0.82%\nAllowance for loan losses to nonperforming loans\t75.0%\t168.9%\nNonperforming assets to total assets\t1.46%\t0.56%\nNonperforming loans to gross loans\t1.63%\t0.48%\n", "q10k_tbl_59": "\tSeptember 30 2020\t\t\t\n\tAmortized Cost\tFair Value\tWeighted Average Life in Years\tWeighted Average Yield\nU.S. Government agencies and mortgage backed securities\t47598\t48870\t5.1\t2.00%\nState and municipal obligations\t18116\t18846\t4.8\t3.04%\nCorporate bonds\t20154\t20137\t6.0\t5.18%\nTotal available-for-sale securities\t85868\t87853\t5.3\t2.80%\nRestricted securities\t5022\t5022\tn/a\t4.98%\nTotal securities\t90890\t92875\t\t2.91%\n", "q10k_tbl_60": "\tDecember 31 2019\t\t\t\n\tAmortized Cost\tFair Value\tWeighted Average Life in Years\tWeighted Average Yield\nU.S. Government agencies and mortgage backed securities\t67491\t67597\t6.1\t2.18%\nState and municipal obligations\t16238\t16576\t5.4\t3.16%\nCorporate bonds\t15165\t15281\t3.8\t5.61%\nTotal available-for-sale securities\t98894\t99454\t5.1\t2.92%\nRestricted securities\t5706\t5706\tn/a\t6.30%\nTotal securities\t104600\t105160\t\t3.18%\n", "q10k_tbl_61": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tAmount\tPercent of Total\tAmount\tPercent of Total\nMortgage loans on real estate:\t\t\t\t\nResidential first mortgages\t286127\t27.2%\t293913\t31.8%\nCommercial mortgages (non-owner occupied)\t282378\t26.7%\t196143\t21.2%\nConstruction land and land development\t132502\t12.5%\t126010\t13.6%\nCommercial mortgages (owner occupied)\t76225\t7.2%\t82829\t9.0%\nResidential revolving and junior mortgages\t29051\t2.7%\t31893\t3.4%\nCommercial and industrial\t187219\t17.6%\t181730\t19.7%\nPaycheck Protection Program\t56788\t5.4%\t0\t0.0%\nConsumer\t6443\t0.7%\t11985\t1.3%\nTotal loans\t1056733\t100.0%\t924503\t100.0%\nNet unamortized deferred loan fees\t(2123)\t\t(313)\t\nAllowance for loan losses\t(12899)\t\t(7562)\t\nLoans receivable net\t1041711\t\t916628\t\n", "q10k_tbl_62": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tAmount\tPercent of loans in each category to total loans\tAmount\tPercent of loans in each category to total loans\nMortgage loans on real estate\t9587\t76.3%\t5372\t79.0%\nCommercial and industrial\t2889\t17.6%\t1571\t19.7%\nPaycheck Protection Program\t0\t5.4%\t0\t0.0%\nConsumer\t423\t0.7%\t619\t1.3%\nTotal allowance for loan losses\t12899\t100.0%\t7562\t100.0%\n", "q10k_tbl_63": "\tWithin 3 Months\t3-6 Months\t6-12 Months\tOver 12 Months\tTotal\tPercent of Total Deposits\nTime deposits\t91632\t31254\t46697\t100295\t269878\t26.3%\n", "q10k_tbl_64": "\tNine Months Ended September 30 2020\t\t\t\tTwelve Months Ended December 31 2019\t\t\t\n\tPeriod-End Balance\tHighest Month-End Balance\tAverage Balance\tWeighted Average Rate\tPeriod-End Balance\tHighest Month-End Balance\tAverage Balance\tWeighted Average Rate\nFHLB advances\t25000\t50000\t37354\t1.34%\t45000\t100000\t76181\t2.74%\nFRB advances\t32637\t33557\t18492\t0.35%\t0\t0\t0\t0.00%\n", "q10k_tbl_65": "As of September 30 2020\tActual Ratio\tMinimum Capital Requirement Ratio with Conservation Buffer\tMinimum to be Well Capitalized\nTotal risk-based capital\t13.68%\t10.50%\t10.00%\nTier 1 capital\t12.43%\t8.50%\t8.00%\nCommon equity tier 1\t12.43%\t7.00%\t6.50%\nTier 1 leverage ratio\t10.47%\t4.00%\t5.00%\n", "q10k_tbl_66": "As of December 31 2019\tActual Ratio\tMinimum Capital Requirement Ratio with Conservation Buffer\tMinimum to be Well Capitalized\nTotal risk-based capital\t13.07%\t10.50%\t10.00%\nTier 1 capital\t12.26%\t8.50%\t8.00%\nCommon equity tier 1\t12.26%\t7.00%\t6.50%\nTier 1 leverage ratio\t10.42%\t4.00%\t5.00%\n", "q10k_tbl_67": "\tSeptember 30 2020\tDecember 31 2019\nTotal loan commitments outstanding\t172304\t164751\nStand-by letters of credit\t6778\t6118\n", "q10k_tbl_68": "2.1\tAgreement and Plan of Reorganization dated as of August 12 2020 between Blue Ridge Bankshares Inc. and Bay Banks of Virginia Inc. (included as Exhibit 2.1 to the Company's Current Report on Form 8-K filed August 17 2020 and incorporated herein by reference).\n31.1\tCertification of Chief Executive Officer Pursuant to Rule 13a-14(a) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n31.2\tCertification of Chief Financial Officer Pursuant to Rule 13a-14(a) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n32.1\tCertification Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n101\tThe following materials from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30 2020 formatted in Inline Extensible Business Reporting Language (iXBRL): (i) Consolidated Balance Sheets as of September 30 2020 and December 31 2019 (ii) Consolidated Statements of Operations for the three and nine months ended September 30 2020 and 2019 (iii) Consolidated Statements of Comprehensive (Loss) Income for the three and nine months ended September 30 2020 and 2019 (iv) Consolidated Statements of Changes in Shareholders' Equity for the three and nine months ended September 30 2020 and 2019 (v) Consolidated Statements of Cash Flows for the nine months ended September 30 2020 and 2019 and (vi) Notes to Consolidated Financial Statements.\n104\tThe cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30 2020 formatted in Inline XBRL (included with Exhibit 101).\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_9"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE
QUARTERLY PERIOD ENDED SEPTEMBER 30, 2020
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
COMMISSION FILE NUMBER: 0-22955
BAY BANKS OF VIRGINIA, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Virginia
54-1838100
(STATE OR OTHER JURISDICTION OF
INCORPORATION OR ORGANIZATION)
(I.R.S. EMPLOYER
IDENTIFICATION NO.)
1801 BAYBERRY COURT, SUITE 101
RICHMOND, Virginia23226
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(804) 325-3775
(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)
N/A
(FORMER NAME, FORMER ADDRESS, AND FORMER FISCAL YEAR, IF CHANGED SINCE LAST REPORT)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
None
Indicate by check mark whether the registrant (1) 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 (2) has been subject to such filing requirements for the past 90 days. ☒ yes ☐ no
Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ yes ☐ no
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☒
Non-accelerated filer
☐
Smaller reporting company
☒
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ yes ☒ no
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 13,329,695 shares of common stock on October 30, 2020.