Company Quick10K Filing
1st Constitution Bancorp
Price18.86 EPS2
Shares9 P/E12
MCap165 P/FCF24
Net Debt-21 EBIT31
TEV144 TEV/EBIT5
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-08-10
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-03-16
10-Q 2019-09-30 Filed 2019-11-08
10-Q 2019-06-30 Filed 2019-08-08
10-Q 2019-03-31 Filed 2019-05-08
10-K 2018-12-31 Filed 2019-03-15
10-Q 2018-09-30 Filed 2018-11-07
10-Q 2018-06-30 Filed 2018-08-08
10-Q 2018-03-31 Filed 2018-05-08
10-K 2017-12-31 Filed 2018-03-19
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-10
10-Q 2017-03-31 Filed 2017-05-09
10-K 2016-12-31 Filed 2017-03-16
10-Q 2016-09-30 Filed 2016-11-10
10-Q 2016-06-30 Filed 2016-08-10
10-Q 2016-03-31 Filed 2016-05-11
10-K 2015-12-31 Filed 2016-03-22
10-Q 2015-09-30 Filed 2015-11-16
10-Q 2015-06-30 Filed 2015-08-12
10-Q 2015-03-31 Filed 2015-05-13
10-K 2014-12-31 Filed 2015-03-26
10-Q 2014-09-30 Filed 2014-11-13
10-Q 2014-06-30 Filed 2014-08-14
10-Q 2014-03-31 Filed 2014-05-15
10-K 2013-12-31 Filed 2014-03-31
10-Q 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-08-14
10-Q 2013-03-31 Filed 2013-05-14
10-K 2012-12-31 Filed 2013-03-22
10-Q 2012-09-30 Filed 2012-11-14
10-Q 2012-06-30 Filed 2012-08-14
10-Q 2012-03-31 Filed 2012-05-15
10-K 2011-12-31 Filed 2012-03-23
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-15
10-Q 2011-03-31 Filed 2011-05-16
10-K 2010-12-31 Filed 2011-03-23
10-Q 2010-09-30 Filed 2010-11-15
10-Q 2010-06-30 Filed 2010-08-16
10-Q 2010-03-31 Filed 2010-05-14
10-K 2009-12-31 Filed 2010-03-26
8-K 2020-09-09 Regulation FD, Exhibits
8-K 2020-07-24 Earnings, Other Events, Exhibits
8-K 2020-06-16
8-K 2020-05-22
8-K 2020-05-04
8-K 2020-03-13
8-K 2020-01-31
8-K 2019-11-21
8-K 2019-11-12
8-K 2019-11-08
8-K 2019-10-18
8-K 2019-10-18
8-K 2019-10-15
8-K 2019-09-27
8-K 2019-08-30
8-K 2019-07-19
8-K 2019-06-23
8-K 2019-06-23
8-K 2019-06-03
8-K 2019-04-19
8-K 2019-02-21
8-K 2019-02-08
8-K 2019-01-31
8-K 2018-11-05
8-K 2018-10-19
8-K 2018-07-20
8-K 2018-05-24
8-K 2018-05-07
8-K 2018-04-20
8-K 2018-04-11
8-K 2018-03-22
8-K 2018-02-26
8-K 2018-02-14
8-K 2018-02-02

FCCY 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements.
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits.
EX-10.2 exhibit1021stconstitut.htm
EX-31.1 exhibit311ceocertifica.htm
EX-31.2 exhibit312cfocertifica.htm
EX-32 exhibit32ceoandcfocert.htm

1st Constitution Bancorp Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
1.41.10.80.60.30.02012201420172020
Assets, Equity
0.10.10.10.00.00.02016201720182020
Rev, G Profit, Net Income
0.20.10.0-0.0-0.1-0.22012201420172020
Ops, Inv, Fin

Document
false--12-31Q2202000011418071ST CONSTITUTION BANCORP0.4040.0010.1260.2660.0050.1150.0750.1500.090.183000000030000000102249741025837410191676102190480P5YP5YP3YP3Y0.4700.4700.4700.47050000005000000001418128581105551591933298393266028 0001141807 2020-01-01 2020-06-30 0001141807 2020-08-03 0001141807 2020-06-30 0001141807 2019-12-31 0001141807 2019-01-01 2019-06-30 0001141807 2019-04-01 2019-06-30 0001141807 2020-04-01 2020-06-30 0001141807 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommonStockMember 2020-04-01 2020-06-30 0001141807 us-gaap:RetainedEarningsMember 2019-03-31 0001141807 us-gaap:TreasuryStockMember 2019-03-31 0001141807 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommonStockMember 2019-03-31 0001141807 us-gaap:CommonStockMember 2020-03-31 0001141807 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0001141807 us-gaap:RetainedEarningsMember 2020-03-31 0001141807 us-gaap:TreasuryStockMember 2020-03-31 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001141807 us-gaap:RetainedEarningsMember 2019-01-01 2019-06-30 0001141807 us-gaap:CommonStockMember 2019-12-31 0001141807 us-gaap:CommonStockMember 2018-12-31 0001141807 us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-06-30 0001141807 us-gaap:RetainedEarningsMember 2020-01-01 2020-06-30 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001141807 us-gaap:RetainedEarningsMember 2018-12-31 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001141807 us-gaap:TreasuryStockMember 2018-12-31 0001141807 us-gaap:RetainedEarningsMember 2019-12-31 0001141807 us-gaap:CommonStockMember 2020-01-01 2020-06-30 0001141807 us-gaap:TreasuryStockMember 2020-01-01 2020-06-30 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-06-30 0001141807 us-gaap:TreasuryStockMember 2019-12-31 0001141807 2019-06-30 0001141807 2018-12-31 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember 2019-11-08 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:CoreDepositsMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember 2019-01-01 2019-12-31 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember 2019-11-08 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:CoreDepositsMember 2019-11-08 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialRealEstateMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember us-gaap:ConsumerPortfolioSegmentMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialRealEstateMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:ConsumerPortfolioSegmentMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ConsumerPortfolioSegmentMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember us-gaap:CommercialRealEstateMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-11-08 0001141807 fccy:ShoreCommunityBankMember 2019-01-01 2019-06-30 0001141807 fccy:ShoreCommunityBankMember 2019-04-01 2019-06-30 0001141807 fccy:ShoreCommunityBankMember 2020-01-01 2020-06-30 0001141807 fccy:ShoreCommunityBankMember 2020-01-01 2020-06-30 0001141807 us-gaap:StockOptionMember 2020-01-01 2020-06-30 0001141807 us-gaap:StockOptionMember 2019-01-01 2019-06-30 0001141807 us-gaap:StockOptionMember 2020-04-01 2020-06-30 0001141807 us-gaap:StockOptionMember 2019-04-01 2019-06-30 0001141807 us-gaap:OtherDebtSecuritiesMember 2019-12-31 0001141807 fccy:ResidentialCollateralizedMortgageObligationsGSEMember 2019-12-31 0001141807 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0001141807 us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0001141807 fccy:TrustPreferredDebtSecuritiesPooledMember 2019-12-31 0001141807 fccy:ResidentialCollateralizedMortgageObligationsGSEMember 2020-06-30 0001141807 us-gaap:USTreasuryAndGovernmentMember 2020-06-30 0001141807 us-gaap:OtherDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-06-30 0001141807 us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0001141807 fccy:TrustPreferredDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0001141807 fccy:AtlanticCommunityBankersBankStockMember us-gaap:EquitySecuritiesMember 2019-12-31 0001141807 us-gaap:FederalHomeLoanBankBorrowingsMember 2019-12-31 0001141807 us-gaap:FederalHomeLoanBankBorrowingsMember 2020-06-30 0001141807 2009-01-01 2009-12-31 0001141807 fccy:AtlanticCommunityBankersBankStockMember us-gaap:EquitySecuritiesMember 2020-06-30 0001141807 fccy:TrustPreferredDebtSecuritiesMember 2020-01-01 2020-06-30 0001141807 us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:USTreasuryAndGovernmentMember 2019-12-31 0001141807 fccy:TrustPreferredDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2020-06-30 0001141807 us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0001141807 fccy:TrustPreferredDebtSecuritiesPooledMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2020-04-01 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2019-01-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-01-01 2019-06-30 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2019-03-31 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2020-01-01 2020-06-30 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-01-01 2019-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2020-04-01 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2018-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2019-01-01 2019-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2020-04-01 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-04-01 2019-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2020-01-01 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2020-01-01 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-01-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2019-03-31 0001141807 2019-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2020-04-01 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2019-01-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2020-04-01 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2020-03-31 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2020-01-01 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2019-01-01 2019-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2019-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2019-04-01 2019-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2018-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2020-01-01 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2020-01-01 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2018-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2019-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2018-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2020-03-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2020-03-31 0001141807 2020-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2020-03-31 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2018-12-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2020-04-01 2020-06-30 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2020-01-01 2020-06-30 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2020-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-12-31 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-06-30 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2019-01-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2019-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2019-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2020-06-30 0001141807 us-gaap:UnallocatedFinancingReceivablesMember 2020-04-01 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2020-01-01 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2020-04-01 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2018-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2019-03-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2019-03-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2020-03-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2018-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2020-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2020-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-03-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2018-12-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:DoubtfulMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:PassMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:SpecialMentionMember 2019-12-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:SubstandardMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:SpecialMentionMember 2019-12-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:SpecialMentionMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:PassMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:DoubtfulMember 2019-12-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:PassMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:SubstandardMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:SpecialMentionMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:DoubtfulMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:PassMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:DoubtfulMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:PassMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:DoubtfulMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:SubstandardMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:SubstandardMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:SpecialMentionMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember 2019-01-01 2019-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember 2019-01-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember 2019-04-01 2019-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:DoubtfulMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:PassMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:SpecialMentionMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:SpecialMentionMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:DoubtfulMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:SubstandardMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:SubstandardMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:SubstandardMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:SpecialMentionMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:SubstandardMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:PassMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:DoubtfulMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:SpecialMentionMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:SpecialMentionMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:PassMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:PassMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:DoubtfulMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:SubstandardMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:DoubtfulMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:PassMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember 2020-01-01 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember 2020-01-01 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember 2020-04-01 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember 2020-04-01 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0001141807 us-gaap:LoansAndFinanceReceivablesMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0001141807 us-gaap:LoansAndFinanceReceivablesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0001141807 us-gaap:LoansAndFinanceReceivablesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0001141807 us-gaap:LoansAndFinanceReceivablesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-06-30 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-06-30 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-06-30 0001141807 us-gaap:NonperformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2019-12-31 0001141807 us-gaap:PerformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2019-12-31 0001141807 us-gaap:NonperformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2019-12-31 0001141807 us-gaap:PerformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0001141807 us-gaap:LoansAndFinanceReceivablesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0001141807 us-gaap:LoansAndFinanceReceivablesMember 2019-12-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0001141807 us-gaap:LoansAndFinanceReceivablesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0001141807 us-gaap:LoansAndFinanceReceivablesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0001141807 us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember 2019-12-31 0001141807 us-gaap:PerformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2020-06-30 0001141807 us-gaap:PerformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2020-06-30 0001141807 us-gaap:NonperformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2020-06-30 0001141807 us-gaap:NonperformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:UnallocatedFinancingReceivablesMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2019-12-31 0001141807 us-gaap:CommercialPortfolioSegmentMember us-gaap:SubsequentEventMember 2020-07-31 0001141807 us-gaap:PaymentDeferralMember us-gaap:SubsequentEventMember 2020-07-31 2020-07-31 0001141807 us-gaap:ExtendedMaturityMember us-gaap:SubsequentEventMember 2020-07-31 0001141807 us-gaap:SubsequentEventMember 2020-07-31 0001141807 us-gaap:PaymentDeferralMember us-gaap:SubsequentEventMember 2020-07-31 0001141807 us-gaap:ConsumerPortfolioSegmentMember us-gaap:SubsequentEventMember 2020-07-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:PerformingFinancingReceivableMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:PerformingFinancingReceivableMember 2019-12-31 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ResidentialPortfolioSegmentMember us-gaap:ResidentialRealEstateMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:ConsumerLoanMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember fccy:MortgageWarehouseLinesMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ConsumerPortfolioSegmentMember fccy:ConsumerOtherFinancingReceivablesMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember us-gaap:RealEstateLoanMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember us-gaap:ConstructionLoansMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:UnallocatedFinancingReceivablesMember 2020-06-30 0001141807 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialPortfolioSegmentMember fccy:CommercialBusinessMember 2020-06-30 0001141807 2019-01-01 2019-12-31 0001141807 fccy:OtherNoninterestIncomeMember 2019-01-01 2019-06-30 0001141807 fccy:ServicesChargesOnDepositsOverdraftFeesMember 2019-01-01 2019-06-30 0001141807 fccy:ServiceChargesOnDepositsOtherMember 2020-01-01 2020-06-30 0001141807 fccy:ServicesChargesOnDepositsOverdraftFeesMember 2020-04-01 2020-06-30 0001141807 fccy:InterchangeIncomeMember 2020-04-01 2020-06-30 0001141807 fccy:InterchangeIncomeMember 2019-01-01 2019-06-30 0001141807 fccy:ServiceChargesOnDepositsOtherMember 2020-04-01 2020-06-30 0001141807 fccy:OtherNoninterestIncomeMember 2019-04-01 2019-06-30 0001141807 fccy:OtherNoninterestIncomeMember 2020-01-01 2020-06-30 0001141807 fccy:ServiceChargesOnDepositsOtherMember 2019-04-01 2019-06-30 0001141807 fccy:InterchangeIncomeMember 2019-04-01 2019-06-30 0001141807 fccy:ServiceChargesOnDepositsOtherMember 2019-01-01 2019-06-30 0001141807 fccy:GainOnSaleOfOREOMember 2020-01-01 2020-06-30 0001141807 fccy:GainOnSaleOfOREOMember 2020-04-01 2020-06-30 0001141807 fccy:GainOnSaleOfOREOMember 2019-01-01 2019-06-30 0001141807 fccy:ServicesChargesOnDepositsOverdraftFeesMember 2020-01-01 2020-06-30 0001141807 fccy:GainOnSaleOfOREOMember 2019-04-01 2019-06-30 0001141807 fccy:InterchangeIncomeMember 2020-01-01 2020-06-30 0001141807 fccy:OtherNoninterestIncomeMember 2020-04-01 2020-06-30 0001141807 fccy:ServicesChargesOnDepositsOverdraftFeesMember 2019-04-01 2019-06-30 0001141807 us-gaap:RestrictedStockMember 2019-12-31 0001141807 us-gaap:RestrictedStockMember 2020-06-30 0001141807 us-gaap:RestrictedStockMember 2020-01-01 2020-06-30 0001141807 us-gaap:RestrictedStockUnitsRSUMember 2019-12-31 0001141807 us-gaap:RestrictedStockUnitsRSUMember 2020-06-30 0001141807 us-gaap:RestrictedStockUnitsRSUMember 2020-01-01 2020-06-30 0001141807 2020-03-19 2020-03-19 0001141807 2020-01-06 2020-01-06 0001141807 2020-01-06 0001141807 2020-03-19 0001141807 us-gaap:RestrictedStockUnitsRSUMember 2020-03-19 0001141807 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-06-30 0001141807 us-gaap:EmployeeStockOptionMember 2020-01-01 2020-06-30 0001141807 us-gaap:RestrictedStockMember 2019-01-01 2019-06-30 0001141807 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-06-30 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2019-12-31 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-12-31 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetGainLossIncludingPortionAttributableToNoncontrollingInterestMember 2019-12-31 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-04-01 2020-06-30 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2019-04-01 2019-06-30 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2018-12-31 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-04-01 2019-06-30 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-12-31 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-06-30 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-01-01 2020-06-30 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-06-30 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2020-03-31 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2019-01-01 2019-06-30 0001141807 fccy:AccumulatedOtherthanTemporaryImpairmentAndAccumulatedDefinedBenefitPlansAdjustmentAttributabletoParentMember 2019-04-01 2019-06-30 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-06-30 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-04-01 2019-06-30 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-03-31 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-06-30 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2020-04-01 2020-06-30 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-03-31 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2019-03-31 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2020-01-01 2020-06-30 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2020-06-30 0001141807 fccy:AccumulatedOtherthanTemporaryImpairmentAndAccumulatedDefinedBenefitPlansAdjustmentAttributabletoParentMember 2020-01-01 2020-06-30 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2020-01-01 2020-06-30 0001141807 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2019-06-30 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2020-04-01 2020-06-30 0001141807 us-gaap:AccumulatedOtherThanTemporaryImpairmentMember 2020-06-30 0001141807 fccy:AccumulatedOtherthanTemporaryImpairmentAndAccumulatedDefinedBenefitPlansAdjustmentAttributabletoParentMember 2020-04-01 2020-06-30 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-12-31 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-06-30 0001141807 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-03-31 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2020-03-31 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-12-31 0001141807 fccy:AccumulatedOtherthanTemporaryImpairmentAndAccumulatedDefinedBenefitPlansAdjustmentAttributabletoParentMember 2019-01-01 2019-06-30 0001141807 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetGainLossIncludingPortionAttributableToNoncontrollingInterestMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-06-30 0001141807 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-06-30 0001141807 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel1Member 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member 2019-12-31 0001141807 us-gaap:FairValueInputsLevel2Member 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member fccy:TrustPreferredDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasuryAndGovernmentMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member fccy:TrustPreferredDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:OtherDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel2Member fccy:TrustPreferredDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel3Member fccy:ResidentialCollateralizedMortgageObligationsGSEMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:OtherDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:USTreasuryAndGovernmentMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:USTreasuryAndGovernmentMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member fccy:ResidentialCollateralizedMortgageObligationsGSEMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:OtherDebtSecuritiesMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel2Member fccy:ResidentialCollateralizedMortgageObligationsGSEMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:USTreasuryAndGovernmentMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member fccy:ResidentialCollateralizedMortgageObligationsGSEMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member fccy:ResidentialCollateralizedMortgageObligationsGSEMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel1Member fccy:TrustPreferredDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:CorporateDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:OtherDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:USTreasuryAndGovernmentMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:OtherDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:OtherDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel3Member fccy:TrustPreferredDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasuryAndGovernmentMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member fccy:TrustPreferredDebtSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel1Member fccy:ResidentialCollateralizedMortgageObligationsGSEMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:ResidentialMortgageBackedSecuritiesMember 2020-06-30 0001141807 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 0001141807 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 0001141807 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 0001141807 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0001141807 srt:MinimumMember us-gaap:MeasurementInputComparabilityAdjustmentMember 2019-12-31 0001141807 srt:MaximumMember us-gaap:MeasurementInputComparabilityAdjustmentMember 2020-06-30 0001141807 srt:WeightedAverageMember us-gaap:MeasurementInputComparabilityAdjustmentMember 2019-12-31 0001141807 srt:MinimumMember us-gaap:MeasurementInputComparabilityAdjustmentMember 2020-06-30 0001141807 srt:MaximumMember us-gaap:MeasurementInputComparabilityAdjustmentMember 2019-12-31 0001141807 srt:WeightedAverageMember us-gaap:MeasurementInputComparabilityAdjustmentMember 2020-06-30 0001141807 us-gaap:OtherExpenseMember 2019-01-01 2019-06-30 0001141807 us-gaap:OtherExpenseMember 2020-01-01 2020-06-30 0001141807 fccy:OccupancyNetMember 2019-04-01 2019-06-30 0001141807 us-gaap:OtherExpenseMember 2019-04-01 2019-06-30 0001141807 fccy:OccupancyNetMember 2020-01-01 2020-06-30 0001141807 fccy:OccupancyNetMember 2019-01-01 2019-06-30 0001141807 fccy:OccupancyNetMember 2020-04-01 2020-06-30 0001141807 us-gaap:OtherExpenseMember 2020-04-01 2020-06-30 0001141807 us-gaap:AutomobilesMember 2020-01-01 2020-06-30 0001141807 fccy:BuildingBranchOfficesMember 2019-01-01 2019-12-31 0001141807 fccy:BuildingGeneralOfficeSpaceMember 2019-01-01 2019-12-31 0001141807 us-gaap:OfficeEquipmentMember 2019-01-01 2019-12-31 0001141807 us-gaap:BuildingMember 2019-01-01 2019-12-31 0001141807 us-gaap:LandMember 2020-01-01 2020-06-30 0001141807 srt:MinimumMember us-gaap:AutomobilesMember 2020-06-30 0001141807 srt:MaximumMember us-gaap:AutomobilesMember 2020-06-30 0001141807 srt:MaximumMember us-gaap:OfficeEquipmentMember 2020-06-30 0001141807 srt:MinimumMember us-gaap:OfficeEquipmentMember 2020-06-30 xbrli:shares xbrli:pure fccy:security fccy:financial_institution iso4217:USD xbrli:shares iso4217:USD fccy:loan fccy:lease fccy:contract


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission file Number:        000-32891
1ST CONSTITUTION BANCORP
(Exact Name of Registrant as Specified in Its Charter)
New Jersey
 
22-3665653
(State of Other Jurisdiction
of Incorporation or Organization)
 
(I.R.S. Employer Identification No.)

2650 Route 130
P.O. Box 634
Cranbury
New Jersey
08512
(Address of Principal Executive Offices)
(Zip Code)

(Registrant’s Telephone Number, Including Area Code)
(609)
655-4500
 
(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
Common stock, no par value
FCCY
NASDAQ Global Market

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, smaller reporting company, or an emerging growth company. See the definitions 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, indicated 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  
As of August 3, 2020, there were 10,215,550 shares of the registrant’s common stock, no par value, outstanding.




1ST CONSTITUTION BANCORP
FORM 10-Q
INDEX
 
 
Page
 
 
 
PART I.
FINANCIAL INFORMATION
 
 
 
 
Item 1.
Financial Statements
 
 
 
 
Consolidated Balance Sheets at June 30, 2020 and December 31, 2019 (unaudited)
 
 
 
 
Consolidated Statements of Income for the Three and Six Months Ended June 30, 2020 and June 30, 2019 (unaudited)
 
 
 
 
Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2020 and June 30, 2019 (unaudited)
 
 
 
 
Consolidated Statements of Changes in Shareholders' Equity for the Three and Six Months Ended June 30, 2020 and June 30, 2019 (unaudited)
 
 
 
 
Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2020 and June 30, 2019 (unaudited)
 
 
 
 
Notes to Consolidated Financial Statements (unaudited)
 
 
 
Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
 
 
 
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
 
 
 
Item 4.
Controls and Procedures
 
 
 
PART II.
OTHER INFORMATION
 
 
 
 
Item 1.
Legal Proceedings
 
 
 
Item 1A.
Risk Factors
 
 
 
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
 
 
 
Item 3.
Defaults Upon Senior Securities
 
 
 




Item 4.
Mine Safety Disclosures
 
 
 
Item 5.
Other Information
 
 
 
Item 6.
Exhibits
 
 
 
SIGNATURES




PART I. FINANCIAL INFORMATION
Item 1.    Financial Statements.

1ST Constitution Bancorp
Consolidated Balance Sheets
(Dollars in thousands)
(Unaudited)
 
 
June 30, 2020
 
December 31, 2019
ASSETS
 
 
 
 
Cash and due from banks
 
$
10,101

 
$
2,547

Interest-earning deposits
 
2,481

 
12,295

Total cash and cash equivalents
 
12,582

 
14,842

Investment securities
 
 

 
 

Available for sale, at fair value
 
151,661

 
155,782

Held to maturity (fair value of $97,567 and $78,223 at June 30, 2020
and December 31, 2019, respectively)
 
94,440

 
76,620

Total investment securities
 
246,101

 
232,402

Loans held for sale
 
11,129

 
5,927

Loans
 
1,355,436

 
1,216,028

  Less: allowance for loan losses
 
(12,126
)
 
(9,271
)
    Net loans
 
1,343,310

 
1,206,757

Premises and equipment, net
 
14,691

 
15,262

Right-of-use assets
 
17,282

 
17,957

Accrued interest receivable
 
5,740

 
4,945

Bank-owned life insurance
 
36,943

 
36,678

Other real estate owned
 
470

 
571

Goodwill and intangible assets
 
36,563

 
36,779

Other assets
 
16,139

 
14,142

Total assets
 
$
1,740,950

 
$
1,586,262

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 

 
 

LIABILITIES
 
 

 
 

Deposits
 
 

 
 

Non-interest bearing
 
$
397,238

 
$
287,555

Interest bearing
 
1,012,154

 
989,807

Total deposits
 
1,409,392

 
1,277,362

Short-term borrowings
 
107,250

 
92,050

Redeemable subordinated debentures
 
18,557

 
18,557

Accrued interest payable
 
1,296

 
1,592

Lease liability
 
18,036

 
18,617

Accrued expenses and other liabilities
 
8,935

 
7,506

Total liabilities
 
1,563,466

 
1,415,684

SHAREHOLDERS' EQUITY
 
 

 
 

Preferred stock, no par value; 5,000,000 shares authorized; none issued
 

 

Common stock, no par value; 30,000,000 shares authorized; 10,258,374 and 10,224,974 shares issued and 10,219,048 and 10,191,676 shares outstanding as of June 30, 2020 and December 31, 2019, respectively
 
110,546

 
109,964

Retained earnings
 
66,067

 
60,791

Treasury stock, 39,326 and 33,298 shares at June 30, 2020 and December 31, 2019, respectively
 
(503
)
 
(368
)
Accumulated other comprehensive income
 
1,374

 
191

Total shareholders' equity
 
177,484

 
170,578

Total liabilities and shareholders' equity
 
$
1,740,950

 
$
1,586,262

The accompanying notes are an integral part of these consolidated financial statements.

1



1ST Constitution Bancorp
Consolidated Statements of Income
(Dollars in thousands, except per share data)
(Unaudited)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
INTEREST INCOME
 
 
 
 
 
 
 
Loans, including fees
$
15,374

 
$
12,869

 
$
30,179

 
$
25,026

Securities:
 
 
 
 
 
 
 
Taxable
852

 
1,215

 
1,908

 
2,485

Tax-exempt
496

 
422

 
934

 
863

Federal funds sold and short-term investments
4

 
47

 
93

 
94

Total interest income
16,726

 
14,553

 
33,114

 
28,468

INTEREST EXPENSE
 
 
 
 
 
 
 
Deposits
2,724

 
2,671

 
5,962

 
4,988

Borrowings
48

 
257

 
110

 
430

Redeemable subordinated debentures
106

 
192

 
258

 
390

Total interest expense
2,878

 
3,120

 
6,330

 
5,808

Net interest income
13,848

 
11,433

 
26,784

 
22,660

PROVISION FOR LOAN LOSSES
2,125

 
400

 
3,020

 
700

Net interest income after provision for loan losses
11,723

 
11,033

 
23,764

 
21,960

NON-INTEREST INCOME
 
 
 
 
 
 
 
Service charges on deposit accounts
132

 
159

 
345

 
325

Gain on sales of loans
2,121

 
1,160

 
3,591

 
2,205

Income on bank-owned life insurance
264

 
149

 
444

 
288

Gain on sales and calls of securities
10

 

 
18

 

Other income
573

 
702

 
1,158

 
1,218

Total non-interest income
3,100

 
2,170

 
5,556

 
4,036

NON-INTEREST EXPENSES
 
 
 
 
 
 
 
Salaries and employee benefits
6,001

 
5,278

 
12,170

 
10,241

Occupancy expense
1,205

 
991

 
2,375

 
2,012

Data processing expenses
470

 
345

 
916

 
693

FDIC insurance expense
225

 
60

 
259

 
160

Other real estate owned expenses
14

 
34

 
31

 
82

Merger-related expenses

 
258

 
64

 
273

Other operating expenses
1,922

 
1,600

 
3,815

 
3,199

Total non-interest expenses
9,837

 
8,566

 
19,630

 
16,660

Income before income taxes
4,986

 
4,637

 
9,690

 
9,336

INCOME TAXES
1,296

 
1,267

 
2,579

 
2,569

Net income
$
3,690

 
$
3,370

 
$
7,111

 
$
6,767

EARNINGS PER COMMON SHARE
 
 
 
 
 
 
 
Basic
$
0.36

 
$
0.39

 
$
0.70

 
$
0.78

Diluted
$
0.36

 
$
0.39

 
$
0.69

 
$
0.78

WEIGHTED AVERAGE SHARES OUTSTANDING
 
 
 
 
 
 
 
Basic
10,209,295

 
8,634,251

 
10,205,065

 
8,629,197

Diluted
10,248,156

 
8,696,943

 
10,256,481

 
8,692,063

The accompanying notes are an integral part of these consolidated financial statements.

2



1ST Constitution Bancorp
Consolidated Statements of Comprehensive Income
(Dollars in thousands)
(Unaudited)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
 
 
 
 
 
 
 
 
Net income
$
3,690

 
$
3,370

 
$
7,111

 
$
6,767

Other comprehensive income (loss):
 
 
 
 
 
 
 
Unrealized holding gains on securities available for sale
1,716

 
1,021

 
1,529

 
2,431

Tax effect
(418
)
 
(251
)
 
(372
)
 
(590
)
Net of tax amount
1,298

 
770

 
1,157

 
1,841

 
 
 
 
 
 
 
 
Reclassification adjustment for gains on securities available for sale(1)
(10
)
 

 
(11
)
 

   Tax effect (2)
3

 

 
3

 

Net of tax amount
(7
)
 

 
(8
)
 

 
 
 
 
 
 
 
 
Reclassification adjustment for unrealized impairment loss on held to maturity security(3)
5

 
3

 
8

 
4

Tax effect
(2
)
 
(1
)
 
(3
)
 
(1
)
Net of tax amount
3

 
2

 
5

 
3

 
 
 
 
 
 
 
 
Pension liability
85

 
56

 
141

 
111

Tax effect
(25
)
 
(14
)
 
(42
)
 
(31
)
Net of tax amount
60

 
42

 
99

 
80

 
 
 
 
 
 
 
 
Reclassification adjustment for actuarial gains for unfunded pension liability(4)
(56
)

(44
)
 
(100
)

(88
)
Tax effect (2)
17

 
13

 
30

 
26

Net of tax amount
(39
)
 
(31
)
 
(70
)
 
(62
)
 
 
 
 
 
 
 
 
Total other comprehensive income
1,315

 
783

 
1,183

 
1,862

 
 
 
 
 
 
 
 
Comprehensive income
$
5,005

 
$
4,153

 
$
8,294

 
$
8,629


(1) Included in gain on sales of securities on the consolidated statements of income
(2) Included in income taxes on the consolidated statements of income
(3) Included in investment securities held to maturity on the consolidated balance sheets
(4) Included in salaries and employee benefits expense on the consolidated statements of income


        
The accompanying notes are an integral part of these consolidated financial statements.


3



1ST Constitution Bancorp
Consolidated Statements of Changes in Shareholders’ Equity
For the Three and Six Months Ended June 30, 2020 and 2019
(Dollars in thousands)
(Unaudited)

 
Common
Stock
 
Retained
Earnings
 
Treasury
Stock
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Total
Shareholders’
Equity
Balance, April 1, 2019
$
79,828

 
$
52,501

 
$
(368
)
 
$
(754
)
 
$
131,207

Net income

 
3,370

 

 

 
3,370

Exercise of stock options and issuance of restricted shares (10,555 shares and 14,181 shares, respectively)
66

 

 

 

 
66

Share-based compensation
296

 

 

 

 
296

Cash dividends ($0.075 per share)

 
(647
)
 

 

 
(647
)
Other comprehensive income

 

 

 
783

 
783

Balance, June 30 2019
$
80,190

 
$
55,224

 
$
(368
)
 
$
29

 
$
135,075

 
 
 
 
 
 
 
 
 
 
Balance, April 1, 2020
$
110,254

 
$
63,295

 
$
(503
)
 
$
59

 
$
173,105

Net income

 
3,690

 

 

 
3,690

Share-based compensation
292

 

 

 

 
292

Cash dividends ($0.09 per share)

 
(918
)
 

 

 
(918
)
Other comprehensive income

 

 

 
1,315

 
1,315

Balance, June 30, 2020
$
110,546

 
$
66,067

 
$
(503
)
 
$
1,374

 
$
177,484


 
Common
Stock
 
Retained
Earnings
 
Treasury
Stock
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Total
Shareholders’
Equity
Balance, January 1, 2019
$
79,536

 
$
49,750

 
$
(368
)
 
$
(1,833
)
 
$
127,085

Net income

 
6,767

 

 

 
6,767

Exercise of stock options and issuance of restricted shares (15,919 shares and 28,581 shares, respectively)
89

 

 

 

 
89

Share-based compensation
565

 

 

 

 
565

Cash dividends ($0.15 per share)

 
(1,293
)
 

 

 
(1,293
)
Other comprehensive income

 

 

 
1,862

 
1,862

Balance, June 30, 2019
$
80,190

 
$
55,224

 
$
(368
)
 
$
29

 
$
135,075

 
 
 
 
 
 
 
 
 
 
Balance, January 1, 2020
$
109,964

 
$
60,791

 
$
(368
)
 
$
191

 
$
170,578

Net income

 
7,111

 

 

 
7,111

Share-based compensation
582

 

 

 

 
582

Cash dividends ($0.18 per share)

 
(1,835
)