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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2015	May 04, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Veritex Holdings, Inc.
Entity Central Index Key	0001501570
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		9,484,641
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$ 9,338	$ 9,223
Interest bearing deposits in other banks	76,206	84,028
Total cash and cash equivalents	85,544	93,251
Investment securities	53,391	45,127
Loans held for sale	2,508	8,858
Loans, net of allowance for loan losses of $5,981 and $5,018, respectively	609,439	597,278
Accrued interest receivable	1,539	1,542
Bank-owned life insurance	17,969	17,822
Bank premises, furniture and equipment, net	11,526	11,150
Non-marketable equity securities	3,136	4,139
Investment in unconsolidated subsidiary	93	93
Other real estate owned	548	105
Intangible assets	1,186	1,261
Goodwill	19,148	19,148
Other assets	2,879	2,512
Total assets	808,906	802,286
Deposits:
Noninterest-bearing	241,732	251,124
Interest-bearing	426,523	387,619
Total deposits	668,255	638,743
Accounts payable and accrued expenses	1,049	1,582
Accrued interest payable and other liabilities	1,395	575
Advances from Federal Home Loan Bank	15,000	40,000
Junior subordinated debentures	3,093	3,093
Subordinated notes	4,981	4,981
Total liabilities	693,773	688,974
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock, $0.01 par value; 10,000,000 and 500,000 shares authorized at September 30, 2014 and December 31, 2013, respectively; 8,000 shares Series C, issued and outstanding with a $1,000 liquidation value	8,000	8,000
Common stock, $0.01 par value; 75,000,000 and 10,000,000 shares authorized at December 31, 2014 and December 31, 2013, respectively; 9,470,832 and 5,804,703 shares issued and outstanding at December 31 2014 and December 31, 2013, respectively, (excluding 10,000 shares held in treasury)	95	95
Additional paid-in capital	97,480	97,469
Retained earnings	9,851	8,047
Unallocated Employee Stock Ownership Plan shares; 36,935 shares at September 30, 2014	(401)	(401)
Accumulated other comprehensive income	178	172
Treasury stock, 10,000 shares at cost	(70)	(70)
Total stockholders' equity	115,133	113,312
Total liabilities and stockholders' equity	$ 808,906	$ 802,286

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Consolidated Balance Sheets
Allowance for loan losses	$ 6,006	$ 5,981
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Series C preferred stock, shares issued	8,000	8,000
Series C preferred stock, shares outstanding	8,000	8,000
Series C preferred stock, liquidation value (in dollars per share)	$ 1,000	$ 1,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	9,484,641	9,470,832
Common stock, shares outstanding	9,484,641	9,470,832
Unallocated Employee Stock Ownership Plan shares, shares	36,935	36,935
Treasury stock, shares	10,000	10,000

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Mar. 31, 2015	Mar. 31, 2014
Interest income:
Interest and fees on loans	$ 7,348	$ 6,152
Interest on investment securities	212	216
Interest on deposits in other banks	54	36
Interest on other		1
Total interest income	7,614	6,405
Interest expense:
Interest on deposit accounts	631	587
Interest on borrowings	126	132
Total interest expense	757	719
Net interest income (expense)	6,857	5,686
Provision for loan losses	110	252
Net interest income after provision for loan losses	6,747	5,434
Noninterest income:
Service charges on deposit accounts	185	206
Gain on sales of investment securities	7	34
Gain on sales of loans held for sale	302	77
(Loss) gain on sales of other real estate owned, net	(2)	13
Bank-owned life insurance	178	108
Other	96	132
Total noninterest income	766	570
Noninterest expense:
Salaries and employee benefits	2,657	2,642
Occupancy of bank premises	526	446
Depreciation and amortization	325	333
Data processing	220	216
FDIC assessment fees	100	108
Legal fees	201	34
Other professional fees	237	132
Advertising and promotions	73	55
Utilities and telephone	73	69
Other real estate owned expenses and writedowns	13	26
Other	657	473
Total noninterest expense	5,082	4,534
Net income from operations	2,431	1,470
Income tax expense (benefit)	607	512
Net income	1,824	958
Preferred stock dividends	20	20
Net income available to common stockholders	$ 1,804	$ 938
Basic earnings per share (in dollars per share)	$ 0.19	$ 0.15
Diluted earnings per share (in dollars per share)	$ 0.19	$ 0.15

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statements of Comprehensive Income
Net income	$ 1,824	$ 958
Other comprehensive (loss) income:
Unrealized (losses) gains on securities available for sale arising during the period, net	16	(12)
Reclassification adjustment for net gains included in net income	7	34
Other comprehensive (losses) gains before tax	9	(46)
Income tax (benefit) expense	3	(16)
Other comprehensive (losses) gains, net of tax	6	(30)
Comprehensive income	$ 1,830	$ 928

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock.	Common stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unallocated Employee Stock Ownership Plan Shares	Treasury Stock	Private offering	Total
Balance at Dec. 31, 2013	$ 8,000	$ 58	$ 55,303	$ 2,922	$ 26		$ (70)		$ 66,239
Balance (in shares) at Dec. 31, 2013		5,804,703
Increase (Decrease) in Stockholders' Equity
Sale of common stock		$ 6	5,432						5,438
Sale of common stock (in shares)		508,047
Preferred stock dividend Series C				(20)					(20)
Sale and finance of stock to ESOP			500			$ (500)			500
Sale and finance of stock to ESOP (in shares)		46,082
Stock based compensation			121						121
Net income				958					958
Other comprehensive income (loss)					(30)				(30)
Balance at Mar. 31, 2014	8,000	$ 64	61,356	3,860	(4)	(500)	(70)		72,706
Balance (in shares) at Mar. 31, 2014		6,358,832
Balance at Dec. 31, 2014	8,000	$ 95	97,469	8,047	172	(401)	(70)		$ 113,312
Balance (in shares) at Dec. 31, 2014		9,470,832							9,470,832
Increase (Decrease) in Stockholders' Equity
Sale of common stock (in shares)								17,274
Restricted stock units vested, net 6,191 shares withheld to cover tax witholdings			(96)						$ (96)
Restricted stock units vested, net 6,191 shares withheld to cover tax witholdings, shares		13,809
Preferred stock dividend Series C				(20)					(20)
Stock based compensation			107						107
Net income				1,824					1,824
Other comprehensive income (loss)					6				6
Balance at Mar. 31, 2015	$ 8,000	$ 95	$ 97,480	$ 9,851	$ 178	$ (401)	$ (70)		$ 115,133
Balance (in shares) at Mar. 31, 2015		9,484,641							9,484,641

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Restricted stock units
Shares withheld to cover tax witholdings	6,191
Common stock
Shares withheld to cover tax witholdings	13,809
Common stock \| Private offering
Offering costs		$ 61

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$ 1,824	$ 958
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	325	333
Provision for loan losses	110	252
Accretion of loan purchase discount	(48)	(69)
Stock based compensation expense	107	121
Amortization of other intangible assets	1	3
Net amortization of premiums on investment securities	89	95
Change in cash surrender value of bank-owned life insurance	(147)	(89)
Net gain on sales of investment securities	(7)	(34)
Gain on sales of loans held for sale	(302)	(77)
Net gain on sales of other real estate owned	2	(13)
Net originations of loans held for sale	(10,022)	(5,538)
Proceeds from sales of loans held for sale	16,674	5,146
Decrease (increase) in accrued interest receivable and other assets	(460)	1,689
Increase (decrease) in accrued expenses and other liabilities	284	182
Net cash provided by operating activities	8,430	2,959
Cash flows from investing activities:
Purchases of securities available for sale	(14,922)	(8,955)
Sales of securities available for sale	3,778	981
Proceeds from maturities, calls and pay downs of investment securities	2,807	2,257
Purchases of non-marketable equity securities, net	1,003	(1)
Net loans originated	(12,716)	(5,879)
Net additions to bank premises and equipment	(627)	(121)
Proceeds from sales of other real estate owned	48	104
Net cash used in investing activities	(20,629)	(11,614)
Cash flows from financing activities:
Net change in deposits	29,512	(1,254)
Net increase in advances from Federal Home Loan Bank	(25,000)
Dividends paid on preferred stock	(20)	(20)
Proceeds from issuance of common stock, net offering cost of $61 for the year ended December 31, 2014		5,438
Net cash provided by financing activities	4,492	4,164
Net increase (decrease) in cash and cash equivalents	(7,707)	(4,491)
Cash and cash equivalents at beginning of year	93,251	76,646
Cash and cash equivalents at end of period	85,544	72,155
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	775	598
Cash paid for income taxes	100
Supplemental Disclosures of Non Cash Flow Information:
Sale and finance of stock to ESOP		500
Net issuance of common stock for vesting of restricted stock units to cover withholding	96
Net foreclosure of other real estate owned	$ 493	$ 1,060

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014
Private offering
Offering costs	$ 60	$ 61

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2015

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Nature of Organization

Veritex Holdings, Inc. (Veritex or the Company), a Texas corporation and bank holding company, was incorporated in July 2009 and was formed for the purpose of acquiring one or more financial institutions located in Dallas, Texas and surrounding areas.

Veritex through its wholly-owned subsidiary, Veritex Community Bank (Bank), is a Texas state banking organization,with corporate offices in Dallas, Texas, and currently operates eight branches and one mortgage office located throughout the greater Dallas, Texas metropolitan area. The Bank provides a full range of banking services to individual and corporate customers, which include commercial and retail lending, and the acceptance of checking and savings deposits. The Texas Department of Banking and the Federal Reserve are the primary regulators of the Company, which undergoes periodic examinations by those regulatory authorities.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Veritex and its wholly-owned subsidiary, the Bank. All material intercompany transactions have been eliminated in consolidation.

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP), but do not include all of the information and footnotes required for complete financial statements. In management’s opinion, these interim unaudited condensed consolidated financial statements include all adjustments of a normal recurring nature necessary for a fair statement of the Company’s consolidated financial position at March 31, 2015, consolidated results of operations for the three months ended March 31, 2015 and 2014, consolidated stockholders’ equity for the three months ended March 31, 2015 and 2014 and consolidated cash flows for the three months ended March 31, 2015 and 2014.

Accounting measurements at interim dates inherently involve greater reliance on estimates than at year end and the results for the interim periods shown in this report are not necessarily indicative of results to be expected for the full year due in part to global economic and financial market conditions, interest rates, access to sources of liquidity, market competition and interruptions of business processes. These interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2014 included within the Company’s Form 10-K as filed with the Securities and Exchange Commission on March 27, 2015.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions may also affect disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

Initial Public Offering (IPO):

The Company qualifies as an “emerging growth company” as defined by the Jumpstart Our Business Startups Act (JOBS Act). In Q2 2014, the Board of Directors of the Company approved a resolution for Veritex to sell shares of common stock to the public in an initial public offering. On July 22, 2014, the Company submitted a confidential draft Registration Statement on Form S-1 with the SEC with respect to the shares to be registered and sold. On August 29, 2014, the Company filed a Registration Statement on Form S-1 with the SEC. That Registration Statement was declared effective by the SEC on October 8, 2014. The Company sold and issued 3,105,000 shares of common stock at $13 per share in reliance on that Registration Statement. Total proceeds received by the Company, net of offering costs were approximately $36,000.

In connection with the initial public offering, on September 22, 2014, the Company amended its certificate of formation to authorize the issuance of up to 75,000,000 shares of common stock, par value $0.01 per share, and 10,000,000 shares of preferred stock, par value $1.00 per share, of which 8,000 shares are designated as Series C preferred stock. The authorized but unissued shares of capital stock are available for future issuance without shareholder approval, unless otherwise required by applicable law or the rules of any applicable securities exchange.

Pending Merger

On March 9, 2015, The Company entered into a definitive merger agreement with IBT Bancorp, Inc. ("IBT"), the parent holding company of Independent Bank of Texas ("Independent Bank"), headquartered in Irving, Texas. Independent Bank operates two banking locations in the Dallas metropolitan area. At December 31, 2014, IBT had total assets of approximately $121,000, total loans of approximately $99,000 and total deposits of approximately $104,000. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, the Company will issue 1,185,185 shares of common stock plus $4,000 in cash in exchange for all of the outstanding shares of IBT capital stock, subject to certain conditions and potential adjustments. Upon the closing of the transaction, Independent Bank will merge with and into Veritex Community Bank. Completion of the transaction is subject to certain closing conditions, including receipt of IBT shareholder approval and customary regulatory approvals. The transaction is expected to close in the third quarter of 2015.

Earnings Per Share

Earnings per share (EPS) are based upon the weighted‑average shares outstanding. The table below sets forth the reconciliation between weighted average shares used for calculating basic and diluted EPS for the three months ended March 31, 2015 and 2014:


	For the Three Months Ended March 31,
	2015		2014
Earnings (numerator)
Net income for common stockholders	$	1,824	$	958
Less: preferred stock dividends		20		20
Net income allocated to common stockholders	$	1,804	$	938
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)		9,448		6,140
Dilutive effect of employee stock-based awards		296		128
Adjusted weighted average shares outstanding		9,744		6,268
Earnings per share:
Basic	$	0.19	$	0.15
Diluted	$	0.19	$	0.15

For the three months ended March 31, 2015, the Company excluded from diluted EPS weighted average shares of stock options representing the right to purchase 44,080 shares of the Company’s common stock as the inclusion of these shares would have been anti-dilutive.

For the three months ended March 31, 2014, the Company excluded from diluted EPS weighted average shares of performance stock options representing the right to purchase 452,000 shares of the Company’s common stock because the issuance of shares related to these options was contingent upon the satisfaction of certain conditions unrelated to earnings or market value and these conditions were not met.

Common Stock and Preferred Stock	3 Months Ended
Common Stock and Preferred Stock	Mar. 31, 2015
Common Stock and Preferred Stock
Common Stock and Preferred Stock	2. Common Stock and Preferred Stock During January 2014, the Company engaged in a private offering of up to 500,000 shares of its common stock, par value $0.01 per share, at a price of $10.85 per share. As of March 31, 2014, the offering was completed and closed. The Company issued 490,773 shares in the offering generating total proceeds of approximately $5,325 and had offering costs of approximately $60. In addition, during January 2014, the Company issued 17,274 shares of common stock to an existing principal shareholder at $10 per share generating total proceeds of approximately $173.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Investment Securities

3 Months Ended

Mar. 31, 2015

Investment Securities

Investment Securities

3. Investment Securities

Debt and equity securities have been classified in the condensed consolidated balance sheets according to management’s intent. The carrying amount of securities and their approximate fair values are as follows:


	March 31, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Available for Sale
U.S. government agencies	$	1,877	$	—	$	23	$	1,854
Corporate bonds		—		—		—		—
Municipal securities		3,399		23		20		3,402
Mortgage-backed securities		35,640		238		74		35,804
Collateralized mortgage obligations		11,130		131		27		11,234
Asset-backed securities		1,076		21		—		1,097
	$	53,122	$	413	$	144	$	53,391


	December 31, 2014
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Available for Sale
U.S. government agencies	$	1,928	$	—	$	47	$	1,881
Corporate bonds		500		—		—		500
Municipal securities		965		22		—		987
Mortgage-backed securities		28,588		256		73		28,771
Collateralized mortgage obligations		11,752		124		37		11,839
Asset-backed securities		1,134		15		—		1,149
	$	44,867	$	417	$	157	$	45,127

The following tables disclose the Company’s investment securities that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 or more months:


	March 31, 2015
	Less Than 12 Months				12 Months or More				Totals
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
Available for Sale
U.S. government agencies	$	499	$	1	$	1,355	$	22	$	1,854	$	23
Municipal securities		2,407		20		—		—		2,407		20
Mortgage-backed securities		14,558		66		1,881		8		16,439		74
Collateralized mortgage obligations		1,375		4		2,346		23		3,721		27
	$	18,839	$	91	$	5,582	$	53	$	24,421	$	144


	December 31, 2014
	Less Than 12 Months				12 Months or More				Totals
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
Available for Sale
U.S. government agencies	$	—	$	—	$	1,881	$	47	$	1,881	$	47
Mortgage-backed securities		10,148		39		3,572		34		13,720		73
Collateralized mortgage obligations		1,580		7		2,442		30		4,022		37
	$	11,728	$	46	$	7,895	$	111	$	19,623	$	157

The number of investment positions in an unrealized loss position totaled 23 at March 31, 2015. The Company does not believe these unrealized losses are “other than temporary” as (i) the Company does not have the intent to sell investment securities prior to recovery and (ii) it is more likely than not that the Company will not have to sell these securities prior to recovery. The unrealized losses noted are interest rate related due to the level of interest rates at March 31, 2015. The Company has reviewed the ratings of the issuers and has not identified any issues related to the ultimate repayment of principal as a result of credit concerns on these securities.

The amortized costs and estimated fair values of securities available for sale, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayments penalties. Mortgage‑ backed securities, collateralized mortgage obligations, and asset‑backed securities typically are issued with stated principal amounts, and the securities are backed by pools of mortgage loans and other loans that have varying maturities. The term of mortgage‑backed, collateralized mortgage obligations and asset‑backed securities thus approximates the term of the underlying mortgages and loans and can vary significantly due to prepayments. Therefore, these securities are not included in the maturity categories below.


	March 31, 2015
	Available For Sale
	Amortized		Fair
	Cost		Value
Due in one year or less	$	972	$	995
Due from one year to five years		933		924
Due from five years to ten years		944		930
Due after ten years		2,427		2,407
		5,276		5,256
Mortgage-backed securities		35,640		35,804
Collateralized mortgage obligations		11,130		11,234
Asset-backed securities		1,076		1,097
	$	53,122	$	53,391


	December 31, 2014
	Available For Sale
	Amortized Cost		Fair Value
Due in one year or less	$	500	$	500
Due from one year to five years		1,930		1,932
Due from five years to ten years		963		936
Due after ten years		—		—
		3,393		3,368
Mortgage-backed securities		28,588		28,771
Collateralized mortgage obligations		11,752		11,839
Asset-backed securities		1,134		1,149
	$	44,867	$	45,127

Proceeds from sales of investment securities available for sale and gross gains and losses for the three months ended March 31, 2015 and 2014 were as follows:


	For the Three Months Ended March 31,		For the Three Months Ended March 31,
	2015		2014
Proceeds from sales	$	3,778	$	981
Gross realized gains		7		34
Gross realized losses		—		—

There was a blanket floating lien on all securities to secure Federal Home Loan Bank advances as of March 31, 2015 and December 31, 2014.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Loans and Allowance for Loan Losses

3 Months Ended

Mar. 31, 2015

Loans and Allowance for Loan Losses

Loans and Allowance for Loan Losses

4. Loans and Allowance for Loan Losses

Loans in the accompanying consolidated balance sheets are summarized as follows:


	March 31,		December 31,
	2015		2014
Real estate:
Construction and land	$	84,030	$	69,966
Farmland		10,156		10,528
1 - 4 family residential		113,392		105,788
Multi-family residential		9,540		9,964
Nonfarm nonresidential		190,967		195,839
Commercial		204,061		207,101
Consumer		3,349		4,124
		615,495		603,310
Deferred loan fees		(50)		(51)
Allowance for loan losses		(6,006)		(5,981)
	$	609,439	$	597,278

Included in the net loan portfolio as of March 31, 2015 and December 31, 2014 is an accretable discount related to loans acquired within a business combination in the approximate amounts of $137 and $185, respectively. The discount is being accreted into income using the interest method over the life of the loans.

The majority of the loan portfolio is comprised of loans to businesses and individuals in the Dallas metropolitan area. This geographic concentration subjects the loan portfolio to the general economic conditions within this area. The risks created by this concentration have been considered by management in the determination of the adequacy of the allowance for loan losses. Management believes the allowance for loan losses was adequate to cover estimated losses on loans as of March 31, 2015 and December 31, 2014.

Non‑Accrual and Past Due Loans

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on non‑accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on non‑accrual status regardless of whether or not such loans are considered past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

Non‑accrual loans, excluding purchased credit impaired loans, aggregated by class of loans are as follows:


	March 31,		December 31,
	2015		2014
Real estate:
Construction and land		—	$	—
Farmland		—		—
1 - 4 family residential		—		—
Multi-family residential		—		—
Nonfarm nonresidential		—		375
Commercial		297		34
Consumer		26		27
	$	323	$	436

During the three months ended March 31, 2015 and 2014, interest income not recognized on non‑accrual loans was minimal.

An age analysis of past due loans, aggregated by class of loans, as of March 31, 2015 and December 31, 2014 is as follows:


	March 31, 2015
													Total 90 Days
													Past Due
	30 to 59		60 to 89		90 Days		Total		Total		Total		and Still
	Days		Days		or Greater		Past Due		Current		Loans		Accruing
Real estate:
Construction and land	$	—	$	—	$	—	$	—	$	84,030	$	84,030	$	—
Farmland		—		—		—		—		10,156		10,156		—
1 - 4 family residential		30		—		—		30		113,362		113,392		—
Multi-family residential		—		—		—		—		9,540		9,540		—
Nonfarm nonresidential		—		—		—		—		190,967		190,967		—
Commercial		269		—		—		269		203,792		204,061		—
Consumer		—		—		—		—		3,349		3,349		—
	$	299	$	—	$	—	$	299	$	615,196	$	615,495	$	—


	December 31, 2014
													Total 90 Days
													Past Due
	30 to 59		60 to 89		90 Days		Total		Total		Total		and Still
	Days		Days		or Greater		Past Due		Current		Loans		Accruing
Real estate:
Construction and land	$	12	$	—	$	541	$	553	$	69,413	$	69,966	$	—
Farmland		—		—		—		—		10,528		10,528		—
1 - 4 family residential		512		—		—		512		105,276		105,788		—
Multi-family residential		—		—		—		—		9,964		9,964		—
Nonfarm nonresidential		—		375		—		375		195,464		195,839		—
Commercial		6		34		—		40		207,061		207,101		—
Consumer		26		—		—		26		4,098		4,124		—
	$	556	$	409	$	541	$	1,506	$	601,804	$	603,310	$	—

Impaired Loans

Impaired loans are those loans where it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. All troubled debt restructurings (TDRs) are considered impaired loans. Impaired loans are measured based on either the present value of expected future cash flows discounted at the loan’s effective interest rate; the loan’s observable market price; or the fair value of the collateral if the loan is collateral dependent. Substantially all of the Company’s impaired loans are measured at the fair value of the collateral. Impaired loans, or portions thereof, are charged off when deemed uncollectible.

Impaired loans, including purchased credit impaired loans and troubled debt restructurings, at March 31, 2015 and December 31, 2014 are summarized in the following tables.


	March 31, 2015
	Unpaid		Recorded		Recorded						Average
	Contractual		Investment		Investment		Total				Recorded
	Principal		with No		With		Recorded		Related		Investment
	Balance		Allowance		Allowance		Investment		Allowance		During Year
Real estate:
Construction and land	$	—	$	—	$	—	$	—	$	—	$	42
Farmland		—		—		—		—		—		—
1 - 4 family residential		168		168		—		168		—		168
Multi-family residential		—		—		—		—		—		—
Nonfarm nonresidential		1,104		1,104		—		1,104		—		1,107
Commercial		482		183		299		482		113		254
Consumer		29		7		22		29		10		32
Total	$	1,783	$	1,462	$	321	$	1,783	$	123	$	1,603


	December 31, 2014
	Unpaid		Recorded		Recorded						Average
	Contractual		Investment		Investment		Total				Recorded
	Principal		with No		With		Recorded		Related		Investment
	Balance		Allowance		Allowance		Investment		Allowance		During Year
Real estate:
Construction and land	$	819	$	—	$	541	$	541	$	44	$	611
Farmland		—		—		—		—		—		—
1 - 4 family residential		168		168		—		168		—		205
Multi-family residential		—		—		—		—		—		—
Nonfarm nonresidential		1,086		1,086		—		1,086		—		980
Commercial		223		183		40		223		30		361
Consumer		38		8		30		38		13		44
Total	$	2,334	$	1,445	$	611	$	2,056	$	87	$	2,201

Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis.

During the three months ended March 31, 2015 and 2014, total interest income and cash‑based interest income recognized on impaired loans was minimal.

Troubled Debt Restructuring

Modifications of terms for the Company’s loans and their inclusion as troubled debt restructurings are based on individual facts and circumstances. Loan modifications that are included as troubled debt restructurings may involve a reduction of the stated interest rate of the loan, an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk, or deferral of principal payments, regardless of the period of the modification. The recorded investment in troubled debt restructurings was $1,511 and $1,677 as of March 31, 2015 and December 31, 2014.

During the three months ended March 31, 2015 and 2014, the terms of certain loans were modified as troubled debt restructurings as follows:


				During the three months ended March 31, 2015
				Post-Modification Outstanding Recorded Investment
										Extended
		Pre-						Extended		Maturity,
		Modification						Maturity		Restructured
		Outstanding		Adjusted				and		Payments and
	Number	Recorded		Interest		Extended		Restructured		Adjusted
	of Loans	Investment		Rate		Maturity		Payments		Interest Rate
Real estate loans:
Construction and land	—	$	—	$	—	$	—	$	—	$	—
Farmland	—		—		—		—		—		—
1 - 4 family residential	—		—		—		—		—		—
Multi-family residential	—		—		—		—		—		—
Nonfarm nonresidential	—		399		—		—		—		397
Commercial	1		—		—		—		—		—
Consumer	—		—		—		—		—		—
Total	1	$	399	$	—	$	—	$	—	$	397


				During the three months ended March 31, 2014
				Post-Modification Outstanding Recorded Investment
										Extended
		Pre-						Extended		Maturity,
		Modification						Maturity		Restructured
		Outstanding		Adjusted				and		Payments and
	Number	Recorded		Interest		Extended		Restructured		Adjusted
	of Loans	Investment		Rate		Maturity		Payments		Interest Rate
Real estate loans:
Construction and land	—	$	—	$	—	$	—	$	—	$	—
Farmland	—		—		—		—		—		—
1 - 4 family residential	—		—		—		—		—		—
Multi-family residential	—		—		—		—		—		—
Nonfarm nonresidential	—		—		—		—		—		—
Commercial	—		—		—		—		—		—
Consumer	2		17		—		11		6		—
Total	2	$	17	$	—	$	11	$	6	$	—

The one loan restructured during the three months ended March 31, 2015 was performing as agreed to the modified terms. Of the two loans restructured during the three months ended March 31, 2014, both were performing as agreed to the modified terms. No specific allowance for loan losses is recorded for loans that were modified as of March 31, 2015 and 2014.

There were no loans modified as a troubled debt restructured loan within the previous 12 months and for which there was a payment default during the three months ended March 31, 2015. There was one loan modified as a troubled debt restructured loan within the previous 12 months and for which there was a payment default during the three months ended March, 31, 2014. The loan was secured by real estate and the collateral property was foreclosed upon subsequent to the default. No amounts were recorded against the allowance for loan losses related to the foreclosure. A default for purposes of this disclosure is a troubled debt restructured loan in which the borrower is 90 days past due or results in the foreclosure and repossession of the applicable collateral.

Interest income recorded during the three months ended March 31, 2015 and 2014 on the restructured loans and interest income that would have been recorded had the terms of the loan not been modified was minimal.

The Company has not committed to lend additional amounts to customers with outstanding loans that were classified as TDRs as of March 31, 2015 or 2014.

Credit Quality Indicators

From a credit risk standpoint, the Company classifies its loans in one of four categories: (i) pass, (ii) special mention, (iii) substandard or (iv) doubtful. Loans classified as loss are charged‑off.

The classifications of loans reflect a judgment about the risks of default and loss associated with the loan. The Company reviews the ratings on criticized credits monthly. Ratings are adjusted to reflect the degree of risk and loss that is felt to be inherent in each credit as of each monthly reporting period. All classified credits are evaluated for impairment. If impairment is determined to exist, a specific reserve is established. The Company’s methodology is structured so that specific reserves are increased in accordance with deterioration in credit quality (and a corresponding increase in risk and loss) or decreased in accordance with improvement in credit quality (and a corresponding decrease in risk and loss).

Credits rated special mention show clear signs of financial weaknesses or deterioration in credit worthiness, however, such concerns are not so pronounced that the Company generally expects to experience significant loss within the short‑term. Such credits typically maintain the ability to perform within standard credit terms and credit exposure is not as prominent as credits rated more harshly.

Credits rated substandard are those in which the normal repayment of principal and interest may be, or has been, jeopardized by reason of adverse trends or developments of a financial, managerial, economic or political nature, or important weaknesses which exist in collateral. A protracted workout on these credits is a distinct possibility. Prompt corrective action is therefore required to strengthen the Company’s position, and/or to reduce exposure and to assure that adequate remedial measures are taken by the borrower. Credit exposure becomes more likely in such credits and a serious evaluation of the secondary support to the credit is performed.

Credits rated doubtful are those in which full collection of principal appears highly questionable, and which some degree of loss is anticipated, even though the ultimate amount of loss may not yet be certain and/or other factors exist which could affect collection of debt. Based upon available information, positive action by the Company is required to avert or minimize loss. Credits rated doubtful are generally also placed on non‑accrual.

As of March 31, 2015 and December 31, 2014, the following summarizes the Company’s internal ratings of its loans, including purchased credit impaired loans:


	March 31, 2015
			Special
	Pass		Mention		Substandard		Doubtful		Total
Real estate:
Construction and land	$	84,030	$	—	$	—	$	—	$	84,030
Farmland		10,156		—		—		—		10,156
1 - 4 family residential		113,055		—		337		—		113,392
Multi-family residential		9,540		—		—		—		9,540
Nonfarm nonresidential		190,570		397		—		—		190,967
Commercial		202,238		1,143		680		—		204,061
Consumer		3,320		—		29		—		3,349
Total	$	612,909	$	1,540	$	1,046	$	—	$	615,495


	December 31, 2014
			Special
	Pass		Mention		Substandard		Doubtful		Total
Real estate:
Construction and land	$	69,425	$	—	$	541	$	—	$	69,966
Farmland		10,528		—		—		—		10,528
1 - 4 family residential		105,786		—		2		—		105,788
Multi-family residential		9,964		—		—		—		9,964
Nonfarm nonresidential		195,464		—		375		—		195,839
Commercial		205,681		672		748		—		207,101
Consumer		3,925		—		199		—		4,124
Total	$	600,773	$	672	$	1,865	$	—	$	603,310

An analysis of the allowance for loan losses for the three months ended March 31, 2015 and 2014 and year ended December 31, 2014 is as follows:


	For the		For the		For the
	Three Months Ended		Year Ended		Three Months Ended
	2015		2014		2014
Balance at beginning of year	$	5,981	$	5,018	$	5,018
Provision charged to earnings		110		1,423		252
Charge-offs		(102)		(510)		(60)
Recoveries		17		50		5
Net charge-offs		(85)		(460)		(55)
Balance at end of year	$	6,006	$	5,981	$	5,215

The allowance for loan losses as a percentage of total loans is 0.98%, 0.99%, and 1.04% as of March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

The following tables summarize the activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2015 and 2014 and the year ended December 31, 2014:


	March 31, 2015
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of year	$	769	$	1,166	$	1,890	$	2,092	$	64	$	5,981
Provision (recapture) charged to earnings		137		74		(54)		(40)		(7)		110
Charge-offs		(48)		—		—		(50)		(4)		(102)
Recoveries		—		—		5		12		—		17
Net charge-offs (recoveries)		(48)		—		5		(38)		(4)		(85)
Balance at end of year	$	858	$	1,240	$	1,841	$	2,014	$	53	$	6,006
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	—	$	—	$	—	$	113	$	10	$	123
Total specific reserves		—		—		—		113		10		123
General reserves		858		1,240		1,841		1,901		43		5,883
Total	$	858	$	1,240	$	1,841	$	2,014	$	53	$	6,006


	December 31, 2014
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of year	$	660	$	970	$	1,726	$	1,585	$	77	$	5,018
Provision (recapture) charged to earnings		137		226		162		909		(11)		1,423
Charge-offs		(28)		(30)		—		(448)		(4)		(510)
Recoveries		—		—		2		46		2		50
Net charge-offs (recoveries)		(28)		(30)		2		(402)		(2)		(460)
Balance at end of year	$	769	$	1,166	$	1,890	$	2,092	$	64	$	5,981
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	44	$	—	$	—	$	30	$	13	$	87
Total specific reserves		44		—		—		30		13		87
General reserves		725		1,166		1,890		2,062		51		5,894
Total	$	769	$	1,166	$	1,890	$	2,092	$	64	$	5,981


	March 31, 2014
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of year	$	660	$	970	$	1,726	$	1,585	$	77	$	5,018
Provision (recapture) charged to earnings		(6)		150		(372)		493		(13)		252
Charge-offs		—		—		—		(60)		—		(60)
Recoveries		—		—		—		3		2		5
Net charge-offs (recoveries)		—		—		—		(57)		2		(55)
Balance at end of year	$	654	$	1,120	$	1,354	$	2,021	$	66	$	5,215
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	—	$	26	$	—	$	—	$	—	$	26
Total specific reserves		—		26		—		—		—		26
General reserves		654		1,094		1,354		2,021		66		5,189
Total	$	654	$	1,120	$	1,354	$	2,021	$	66	$	5,215

The Company’s recorded investment in loans as of March 31, 2015 and December 31, 2014 related to the balance in the allowance for loan losses on the basis of the Company’s impairment methodology is as follows:


	March 31, 2015
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Loans individually evaluated for impairment	$	—	$	168	$	1,104	$	482	$	29	$	1,783
Loans collectively evaluated for impairment		94,186		122,764		189,863		203,579		3,320		613,712
Total	$	94,186	$	122,932	$	190,967	$	204,061	$	3,349	$	615,495


	December 31, 2014
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Loans individually evaluated for impairment	$	541	$	168	$	1,086	$	223	$	38	$	2,056
Loans collectively evaluated for impairment		79,953		115,584		194,753		206,878		4,086		601,254
Total	$	80,494	$	115,752	$	195,839	$	207,101	$	4,124	$	603,310

The Company has acquired certain loans which experienced credit deterioration since origination (purchased credit impaired loans). Accretion on purchased credit impaired loans is based on estimated future cash flows, regardless of contractual maturity. The related carrying amounts of those loans as of December 31, 2014 was $541. There are no purchase credit impaired loans as of March 31, 2015.

There were no loans purchased during the three months ended March 31, 2015 and 2014.

Income is not recognized on certain purchased credit impaired loans if the Company cannot reasonably estimate cash flows expected to be collected. Income on these loans is recognized using the asset recovery method. As of March 31, 2015, there were no remaining purchase credit impaired loans. As of December 31, 2014, there was only one purchased credit impaired loan remaining with a carrying amount of $541, which was accounted for using the cost recovery method.

- Definition

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

+ References + Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2015
Income Taxes
Income Taxes	5. Income Taxes The Company’s estimated annual effective tax rate, before reporting the net impact of discrete items, was approximately 32.6% and 34.8% for the three months ended March 31, 2015 and 2014. The Company’s reported effective tax rates after including the net impact of discrete items for the three months ended March 31, 2015 and 2014 of 25.0% and 34.8%, respectively, in the accompanying condensed consolidated statements of income. The Company’s provision for income taxes for the three months ended March 31, 2015, was impacted by a net discrete tax benefit of $186 associated primarily with the recognition of deferred tax assets related to non-qualified stock options. There were no discrete items for the three months ended March 31, 2014 that affected the Company’s provision for income taxes. Deferred income taxes reflect the net tax effects of temporary differences between the recorded amounts of assets and liabilities for financial reporting purposes, and the amounts used for income tax purposes. Included in the accompanying consolidated balance sheets as of March 31, 2015 is a current tax payable of approximately $787 in other liabilities and a net deferred tax asset of approximately $1,566 in other assets. Included in the accompanying consolidated balance sheets in as of December 31, 2014 is a current tax liability of $89 in accrued interest payable and other liabilities and a net deferred tax asset of $1,385 in other assets.

Commitment and Contingencies	3 Months Ended
Commitment and Contingencies	Mar. 31, 2015
Commitments and Contingencies
Commitments and Contingencies	6. Commitments and Contingencies Litigation The Company may from time to time be involved in legal actions arising from normal business activities. Management believes that these actions are without merit or that the ultimate liability, if any, resulting from them will not materially affect the financial position or results of operations of the Company. Operating Leases The Company leases several of its banking facilities under operating leases. Rental expense related to these leases was approximately $363 and $351 for the three months ended March 31, 2015 and 2014, respectively.

Other Non-interest Expense

3 Months Ended

Mar. 31, 2015

Other Non-interest Expense

Other Non-interest Expense

7. Other Non-Interest Expense

Significant components of the Company’s other non‑interest expense are as follows:


	For the Three Months Ended March 31,
	2015		2014
Business development	$	101	$	61
Office and postage		140		57
Director fees		35		20
Insurance		30		24
Security		21		34
Charitable contributions and donations		78		65
Travel		7		5
Training		10		10
Other		235		197
Total	$	657	$	473

Fair Value Disclosures

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures

Fair Value Disclosures

8. Fair Value Disclosures

The authoritative guidance for fair value measurements defines fair value as the price that would be received to sell an asset or paid to transfer a liaebility in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact.

The authoritative guidance requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, the authoritative guidance establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

Level 1 Inputs. Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs. Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 2 investments consist primarily of obligations of U.S. government sponsored enterprises and agencies, obligations of state and municipal subdivisions, corporate bonds and mortgage‑backed securities.

Level 3 Inputs. Significant unobservable inputs that reflect an entity’s own assumptions that market participants would use in pricing the assets or liabilities.

In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market‑ based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below.

Assets and liabilities measured at fair value on a recurring basis include the following:

Investment Securities Available For Sale: Securities classified as available for sale are reported at fair value utilizing Level 2 inputs. For those securities classified as Level 2, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U. S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayments speeds, credit information and the bond’s terms and conditions, among other things.

The following table summarizes assets measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	Fair Value
	Measurements Using
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
As of March 31, 2015
Investment securities available for sale	$	—	$	53,391	$	—	$	53,391
As of December 31, 2014
Investment securities available for sale	$	—	$	45,127	$	—	$	45,127

There were no liabilities measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014.

There were no transfers between Level 2 and Level 3 during the three months ended March 31, 2015 and 2014.

Certain assets and liabilities are measured at fair value on a non‑ recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment).

Assets measured at fair value on a non‑recurring basis include impaired loans and other real estate owned. The fair value of impaired loans with specific allocations of the allowance for loan losses and other real estate owned is based upon recent real estate appraisals less estimated costs of sale. For residential real estate impaired loans and other real estate owned, appraised values are based on the comparative sales approach. For commercial and commercial real estate impaired loans and other real estate owned, appraisers may use either a single valuation approach or a combination of approaches such as comparative sales, cost or the income approach. A significant unobservable input in the income approach is the estimated income capitalization rate for a given piece of collateral. Adjustments to appraisals may be made to reflect local market conditions or other economic factors and may result in changes in the fair value of a given asset over time. As such, the fair value of impaired loans and other real estate owned are considered a Level 3 in the fair value hierarchy.

The Company recovers the carrying value of other real estate owned through the sale of the property. The ability to affect future sales prices is subject to market conditions and factors beyond the Company’s control and may impact the estimated fair value of a property.

Appraisals for impaired loans and other real estate owned are performed by certified general appraisers whose qualifications and licenses have been reviewed and verified by the Company. Once reviewed, a member of the credit department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparisons to independent data sources such as recent market data or industry wide‑statistics. On a periodic basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustments, if any, should be made to the appraisal value to arrive at fair value.

The following table summarizes assets measured at fair value on a non‑ recurring basis as of March 31, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:


	Fair Value
	Measurements Using
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
As of March 31, 2015
Assets:
Impaired loans	$	—	$	—	$	1,783	$	1,783
Other real estate owned	$	—	$	—	$	493	$	493
As of December 31, 2014
Assets:
Impaired loans	$	—	$	—	$	2,056	$	2,056
Other real estate owned	$	—	$	—	$	50	$	50

At March 31, 2015, impaired loans had a carrying value of $1,783, with $123 specific allowance for loan loss allocated.

At December 31, 2014, impaired loans had a carrying value of $2,056, with $87 specific allowance for loan loss allocated.

There were no liabilities measured at fair value on a non‑recurring basis as of March 31, 2015 and December 31, 2014.

For Level 3 financial assets measured at fair value as of March 31, 2015 and December 31, 2014, the significant unobservable inputs used in the fair value measurements were as follows:


March 31, 2015
			Valuation	Unobservable	Weighted
Assets/Liabilities	Fair Value		Technique	Input(s)	Average
Impaired loans	$	1,783	Collateral Method	Adjustments for selling costs	8	%
Other real estate owned	$	493	Collateral Method	Adjustments for selling costs	8	%


December 31, 2014
			Valuation	Unobservable	Weighted
Assets/Liabilities	Fair Value		Technique	Input(s)	Average
Impaired loans	$	2,056	Collateral Method	Adjustments for selling costs	8	%
Other real estate owned	$	50	Collateral Method	Adjustments for selling costs	8	%

Fair Value of Financial Instruments

The Company is required under current authoritative guidance to disclose the estimated fair value of their financial instrument assets and liabilities including those subject to the requirements discussed above. For the Company, as for most financial institutions, substantially all of its assets and liabilities are considered financial instruments, as defined. Many of the Company’s financial instruments, however, lack an available trading market as characterized by a willing buyer and willing seller engaging in an exchange transaction.

The estimated fair value amounts of financial instruments have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. In addition, reasonable comparability between financial institutions may not be likely due to the wide range of permitted valuation techniques and numerous estimates that must be made given the absence of active secondary markets for many of the financial instruments. This lack of uniform valuation methodologies also introduces a greater degree of subjectivity to these estimated fair values.

The methods and assumptions used by the Company in estimating fair values of financial instruments as disclosed herein in accordance with ASC Topic 825, Financial Instruments, other than for those measured at fair value on a recurring and nonrecurring basis discussed above, are as follows:

Cash and cash equivalents: The carrying amounts of cash and cash equivalents approximate their fair value.

Loans and loans held for sale: For variable‑rate loans that reprice frequently and have no significant changes in credit risk, fair values are based on carrying values. Fair values for certain mortgage loans (for example, one‑to‑four family residential), commercial real estate and commercial loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality.

Bank‑owned life insurance: The carrying amounts of bank‑owned life insurance approximate their fair value.

Non‑marketable equity securities: The carrying value of restricted securities such as stock in the Federal Home Loan Bank of Dallas and Independent Bankers Financial Corporation approximates fair value.

Deposits: The fair values disclosed for demand deposits are, by definition, equal to the amount payable on demand at the reporting date (that is their carrying amounts). The carrying amounts of variable‑rate certificates of deposit (CDs) approximate their fair values at the reporting date. Fair values for fixed‑rate CDs are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits.

Advances from Federal Home Loan Bank: The fair value of advances maturing within 90 days approximates carrying value. Fair value of other advances is based on the Company’s current borrowing rate for similar arrangements.

Junior subordinated debentures and subordinated notes: The fair values are based upon prevailing rates on similar debt in the market place.

Accrued interest: The carrying amounts of accrued interest approximate their fair values due to short term maturity.

Off‑balance sheet instruments: Commitments to extend credit and standby letters of credit are generally priced at market at the time of funding and were not material to the Company’s condensed consolidated financial statements.

The estimated fair values and carrying values of all financial instruments under current authoritative guidance as of March 31, 2015 and December 31, 2015 were as follows:



	March 31,				December 31,
	2015				2014
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	85,544	$	85,544	$	93,251	$	93,251
Securities available for sale		53,391		53,391		45,127		45,127
Loans held for sale		2,508		2,508		8,858		8,858
Accrued interest receivable		1,539		1,539		1,542		1,542
Bank-owned life insurance		17,969		17,969		17,822		17,822
Non-marketable equity securities		3,136		3,136		4,139		4,139
Level 3 inputs:
Loans, net		609,439		606,819		597,278		596,138
Financial liabilities:
Level 2 inputs:
Deposits	$	668,255	$	659,415	$	638,743	$	630,402
Advances from FHLB		15,000		15,029		40,000		40,028
Accrued interest payable		110		110		126		126
Junior subordinated debentures		3,093		3,093		3,093		3,093
Subordinated notes		4,981		4,981		4,981		4,981

- Definition

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

+ References + Details

Financial Instruments with Off-Balance Sheet Risk

3 Months Ended

Mar. 31, 2015

Financial Instruments with Off-Balance Sheet Risk Disclosure [Abstract]

Financial Instruments with Off-Balance Sheet Risk

9. Financial Instruments with Off‑Balance Sheet Risk

The Company is a party to financial instruments with off‑balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the condensed consolidated balance sheets.

The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on balance sheet instruments.

The following table sets forth the approximate amounts of these financial instruments as of March 31, 2015 and December 31, 2014:


	March 31,		December 31,
	2015		2014
Commitments to extend credit	$	173,434	$	144,224
Standby letters of credit		1,038		818
	$	174,472	$	145,042

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Management evaluates each customer’s creditworthiness on a case‑by‑case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation of the borrower.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Standby letters of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company’s policy for obtaining collateral and the nature of such collateral is essentially the same as that involved in making commitments to extend credit.

Although the maximum exposure to loss is the amount of such commitments, management currently anticipates no material losses from such activities.

Employee Benefits

3 Months Ended

Mar. 31, 2015

Employee Benefits

Employee Benefits

10. Employee Benefits

Defined contribution plan

The Company maintains a retirement savings 401(k) profit sharing plan (Plan) in which substantially all employees may participate. The Plan provides for “before tax” employee contributions through salary reductions under section 401(k) of the Internal Revenue Code. The Company may make a discretionary match of employees’ contributions based on a percentage of salary deferrals and certain discretionary profit sharing contributions. No matching contributions to the Plan were made for the three months ending March 31, 2015 and 2014.

ESOP

Effective January 1, 2012, the Company adopted an Employee Stock Ownership Plan (ESOP) covering all employees that meet certain age and service requirements. Plan assets are held and managed by the Company. Shares of the Company’s common stock purchased by the Veritex Community Bank Employee Stock Ownership Plan (ESOP) are held in a suspense account until released for allocation to participants. Shares released are allocated to each eligible participant based on the participant’s 401(k) contribution made during that year. Compensation expense is measured based upon the expected amount of the Company’s discretionary contribution which is determined on an annual basis and is accrued ratably over the year. Shares are committed to be released to settle the liability upon formal declaration of the contribution at the end of the year. The number of shares released to settle the liability is based upon fair value of the shares as of the end of the year and become outstanding shares for earnings per share computations. The cost of shares issued to the ESOP, but not yet committed to be released, is shown as a reduction of stockholders’ equity. To the extent that the fair value of the ESOP shares differs from the cost of such shares, the difference is charged or credited to stockholders’ equity as additional paid in capital.

In January 2014, the ESOP borrowed $500 from the Company and purchased 46,082 shares of the common stock of the Company. The ESOP debt is secured by shares of the Company. The loan will be repaid from contributions to the ESOP from the Company. As the debt is repaid, shares are released from collateral and allocated to employees’ accounts. The shares pledged as collateral are reported as unearned ESOP shares in the condensed consolidated balance sheets.

Compensation expense attributed to the ESOP contributions recorded in the accompanying condensed consolidated statements of income for three months ended March 31, 2015 and 2014 was approximately $45 and $45, respectively.

The following is a summary of ESOP shares as of March 31, 2015 and December 31, 2014.


	March 31,		December 31,
	2015		2014
Allocated shares		16,958		16,958
Unearned shares		36,935		36,935
Total ESOP shares		53,893		53,893
Fair value of unearned shares	$	516	$	523

Stock and Incentive Plans

3 Months Ended

Mar. 31, 2015

Stock and Incentive Plans

Stock and Incentive Plans

11. Stock and Incentive Plans

2010 Stock Option and Equity Incentive Plan

In 2010, the Company adopted the 2010 Stock Option and Equity Incentive Plan (the Incentive Plan), which the Company’s shareholders approved in 2011. The maximum number of shares of common stock that may be issued pursuant to grants or options under the Incentive Plan is 1,000,000. The Incentive Plan is administered by the Board of Directors and provides for both the direct award of stock and the grant of stock options to eligible directors, officers, employees and outside consultants of the Company or its affiliates as defined in the Incentive Plan. The Company may grant either incentive stock options or nonqualified stock options as directed in the Incentive Plan.

The Board authorized that the Incentive Plan provide for the award of 100,000 shares of direct stock awards (restricted shares) and 900,000 shares of stock options, of which 500,000 shares are performance‑based stock options. Options are generally granted with an exercise price equal to the market price of the Company’s stock at the date of the grant; those option awards generally vest based on 5 years of continuous service and have 10‑year contractual terms for non‑controlling participants as defined by the Incentive Plan, and forfeiture of unexercised options upon termination of employment with the Company. Other grant terms can vary for controlling participants as defined by the Incentive Plan. Restricted share awards generally vest after 4 years of continuous service. The terms of the Incentive Plan include a provision whereby all unearned non‑performance options and restricted shares become immediately exercisable and fully vested upon a change in control. The vesting of a performance‑based stock option is contingent upon a change of control and the achievement of specific performance criteria or other objectives set at the grant date.

With the adoption of the 2014 Omnibus Plan, which is discussed below, the Company does not plan to award any additional grants or options under the Incentive Plan.

During the three months ended March 31, 2015, the Company did not award any restricted stock units, non-performance‑based stock options or performance‑based stock options.

During the three months ended March 31, 2014, the Company awarded 20,000 non-performance‑based stock options and 40,000 performance‑based stock options. During the three months ended March 31, 2014, the Company did not award any restricted stock units.

Stock based compensation expense is measured based upon the fair market value of the award at the grant date and is recognized ratably over the period during which the shares are earned (the requisite service period). For the three months ended March 31, 2015 and 2014, approximately $21 and $121 of stock compensation expense related to the Incentive Plan, respectively, was recognized in the accompanying condensed consolidated statements of income.

The fair value of each option award is estimated on the grant date using the Black‑Scholes option‑pricing model with the following assumptions used for the grants:


	For the Three Months Ended March 31,
	2015	2014
Dividend yield	—	0.00%
Expected life	—	10 years
Expected volatility	—	5.60%
Risk-free interest rate	—	2.71%

The expected life is based on the expected amount of time that options granted are expected to be outstanding. The dividend yield assumption is based on the Company’s history. The expected volatility is based on historical volatility of the Company. The risk‑free interest rates are based upon yields of U.S. Treasury issues with a term equal to the expected life of the option being valued.

A summary of option activity under the 2010 Incentive Plan for the three months ended March 31, 2015 and 2014, and changes during the years then ended is presented below:


	2015
	Nonperformance-based stock options				Performance-based stock options
				Weighted		Weighted		Weighted
	Shares	Weighted		Average	Shares	Average		Average
	Underlying	Exercise		Contractual	Underlying	Exercise		Contractual
	Options	Price		Term	Options	Price		Term
Outstanding at beginning of year	352,500	$	10.14	6.58 years	—	$	—	—
Granted during the period	—		—		—		—
Forfeited during the period	—		—		—		—
Cancelled during the period	—		—		—		—
Exercised during the period	—		—		—		—
Outstanding at the end of period	352,500	$	10.14	6.33 years	—	$	—	—
Options exercisable at end of period	245,000	$	10.05	6.10 years	—	$	—	—
Weighted average fair value of options granted during the period		$	—			$	—


	2014
	Nonperformance-based stock options				Performance-based stock options
				Weighted		Weighted		Weighted
	Shares	Weighted		Average	Shares	Average		Average
	Underlying	Exercise		Contractual	Underlying	Exercise		Contractual
	Options	Price		Term	Options	Price		Term
Outstanding at beginning of year	327,500	$	10.03	7.69 years	422,500	$	10.02	8.0 years
Granted during the period	20,000		10.85		40,000		10.85
Forfeited during the period	—		—		—		—
Exercised during the period	—		—		—		—
Outstanding at the end of period	347,500	$	10.07	7.57 years	462,500	$	10.09	8.0 years
Options exercisable at end of period	179,800	$	10.39	6.36 years	—	$	—	—
Weighted average fair value of options granted during the period		$	2.62			$	2.74

As of March 31, 2015 and 2014, the aggregate intrinsic value was $1,350 and $983, respectively, for outstanding non-performance‑based stock options and $960 and $451, respectively, for exercisable non-performance‑based stock options.

As of March 31, 2015, there were no performance‑based stock options outstanding or exercisable. As of March 31, 2014, the aggregate intrinsic value was $1,300 for outstanding performance-based stock options. No performance-based stock options were exercisable as of March 31, 2014.

As of March 31, 2015 and 2014, there was approximately $186 and $381 respectively, of unrecognized compensation expense related to non-performance‑based stock options. The unrecognized compensation expense as of March 31, 2015 is expected to be recognized over the remaining weighted average requisite service period of 1.76 years.

As of March 31, 2015, there was no unrecognized compensation expense related to performance-based options.

A summary of the status of the Company’s restricted stock units as of March 31, 2015 and 2014, and changes during the three months then ended is as follows:


	2015			2014
		Weighted			Weighted
		Average			Average
		Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value
Nonvested at January 1,	62,250	$	10.86	35,000	$	10.00
Granted during the period	—		—	13,500		10.85
Vested during the period	(20,000)		10.00	—		—
Forfeited during the period	—		—	(250)		10.85
Nonvested at March 31,	42,250	$	11.30	48,250	$	10.25

As of March 31, 2015 and 2014, there was $258, and $247, respectively, of total unrecognized compensation expense related to nonvested restricted stock units. The compensation expense as of March 31, 2015 expected to be recognized over the remaining weighted average requisite service period of 2.32 years.

2014 Omnibus Plan

In September of 2014, the Company adopted an omnibus incentive plan or the 2014 Omnibus Plan (Omnibus Plan). The purpose of the Omnibus Plan is to align the long‑term financial interests of the employees, directors, consultants and other service providers with those of the shareholders, to attract and retain those employees, directors, consultants and other service providers by providing compensation opportunities that are competitive with other companies and to provide incentives to those individuals who contribute significantly to the Company’s long‑term performance and growth. To accomplish these goals, the Omnibus Plan permits the issuance of stock options, share appreciation rights, restricted shares, restricted share units, deferred shares, unrestricted shares and cash‑based awards. The maximum number of shares of the Company’s common stock that may be issued pursuant to grants or options under the Omnibus Plan is 1,000,000.

The Company granted 44,080 options and 25,474 restricted stock units to its employees and directors during the three months ended March 31, 2015 under the Omnibus Plan. The options vest equally over 3 years from the date of grant. The restricted stock units include a market condition based on the Company’s total shareholder return relative to a market index which determines the number of restricted stock units which may vest. The Company’s 2014 Omnibus Plan was not adopted until September of 2014. Accordingly, no restricted stock units or options were granted to its employees and directors during the three months ended March 31, 2014 under the Omnibus Plan.

The fair value of each option award is estimated on the grant date using the Black‑Scholes option‑pricing model with the following assumptions used for the grants:


	For the Three Months Ended March 31,
	2015	2014
Dividend yield	0.00%	—
Expected life	6 years	—
Expected volatility	37.00%	—
Risk-free interest rate	1.81%	—

The expected life is based on the expected amount of time that options granted are expected to be outstanding. The dividend yield assumption is based on the Company’s history. The expected volatility is based on historical volatility of the Company as well as the volatility of certain comparable public company peers. The risk‑free interest rates are based upon yields of U.S. Treasury issues with a term equal to the expected life of the option being valued.

A summary of the status of the Company’s options and restricted stock units as of March 31, 2015 and changes during the three months then ended is as follows:


	2015
	Nonperformance-based stock options
				Weighted
	Shares	Weighted		Average
	Underlying	Exercise		Contractual
	Options	Price		Term
Outstanding at beginning of year	—	$	—	—
Granted during the period	44,080		14.17
Forfeited during the period	—		—
Cancelled during the period	—		—
Exercised during the period	—		—
Outstanding at the end of period	44,080	$	14.17	9.76 years
Options exercisable at end of period	—	$	—	—
Weighted average fair value of options granted during the period		$	5.46

As of March 31, 2015, there was no aggregate intrinsic value for outstanding non-performance-based stock options.


	2015
		Weighted
		Average
		Grant Date
	Shares	Fair Value
Nonvested at January 1,	82,903	$	13.00
Granted during the period	25,474		14.17
Vested during the period	—		—
Forfeited during the period	—		—
Nonvested at March 31,	108,377	$	13.28

For the three months ended March 31, 2015 approximately $18 and $69 of stock compensation expense awarded under the 2014 Omnibus Plan related to options and restricted stock units, respectively, which was recognized in the accompanying condensed consolidated statements of income.

As of March 31, 2015 there was $201 and $1,072 of total unrecognized compensation expense related to options and restricted stock units awarded under the 2014 Omnibus Plan, respectively. The compensation expense related to these options and restricted stock units is expected to be recognized over the remaining weighted average requisite service periods of 2.76 and 4.21 years, respectively.

Significant Concentrations of Credit Risk	3 Months Ended
Significant Concentrations of Credit Risk	Mar. 31, 2015
Significant Concentrations of Credit Risk
Significant Concentrations of Credit Risk	12. Significant Concentrations of Credit Risk Most of the Company’s business activity is with customers located within the Dallas Metropolitan area. Such customers are normally also depositors of the Company. The distribution of commitments to extend credit approximates the distribution of loans outstanding. Commercial and standby letters of credit were granted primarily to commercial borrowers. The contractual amounts of credit related financial instruments such as commitments to extend credit, credit card arrangements, and letters of credit represent the amounts of potential accounting loss should the contract be fully drawn upon, the customer default, and the value of any existing collateral become worthless.

Preferred Stock	3 Months Ended
Preferred Stock	Mar. 31, 2015
Preferred Stock Disclosure [Abstract]
Preferred Stock	13. Preferred Stock On August 25, 2011, the Company entered into a Small Business Lending Fund‑Securities Purchase Agreement (SBLF Purchase Agreement) with the Secretary of the Treasury, pursuant to which the Company (i) sold 8,000 shares of the Company’s Senior Non‑Cumulative Perpetual Preferred Stock, Series C (the SBLF Preferred Stock) to the Secretary of the Treasury for a purchase price of $8,000. The issuance was pursuant to the SBLF program, a fund established under the Small Business Jobs Act of 2010 that was created to encourage lending to small business by providing capital to qualified community banks. The SBLF Preferred Stock qualifies as Tier 1 capital and pays non‑ cumulative dividends quarterly, on each January 1, April 1, July 1 and October 1. The dividend rate, as a percentage of the liquidation amount, can fluctuate on a quarterly basis during the first 10 quarters during which the SBLF Preferred Stock is outstanding, based upon changes in the level of “Qualified Small Business Lending” or “QBSL” (as defined in the SBLF Purchase Agreement) by the Bank. Based upon the increase in the Bank’s level of QBSL over the baseline level calculated under the terms of the SBLF Purchase Agreement, the dividend rate for the initial dividend period for the Company was set at 1.00%. For the tenth calendar quarter through 4.5 years after issuance, the dividend rate will be fixed and as of March 31, 2015 was set at one percent (1%) based upon the increase in QBSL as compared to the baseline. After 4.5 years from issuance, the dividend rate will increase to 9% (including a quarterly lending incentive fee of 0.5%). The SBLF Preferred Stock is non‑voting, except in limited circumstances. In the event that the Company misses five dividend payments, whether or not consecutive, the holder of the SBLF Preferred Stock will have the right, but not the obligation, to appoint a representative as an observer on the Company’s Board of Directors. The right expires when full dividends have been paid for four consecutive dividend periods. The SBLF Preferred Stock may be redeemed at any time at the Company’s option, at a redemption price of 100% of the liquidation amount of $1,000 per share plus accrued but unpaid dividends to the date of redemption for the current period, subject to the approval of its federal banking regulator.

Capital Requirements and Restrictions on Retained Earnings

3 Months Ended

Mar. 31, 2015

Capital Requirements and Restrictions on Retained Earnings Disclosure [Abstract]

Capital Requirements and Restrictions on Retained Earnings

14. Capital Requirements and Restrictions on Retained Earnings

Under banking law, there are legal restrictions limiting the amount of dividends the Company can declare. Approval of the regulatory authorities is required if the effect of the dividends declared would cause regulatory capital of the Company to fall below specified minimum levels.

The Bank is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 capital (as defined in the regulations) to risk weighted assets (as defined), and of Tier 1 capital (as defined) to average assets (as defined). Management believes, as of March 31, 2015 and December 31, 2014 that the Bank met all capital adequacy requirements to which it was subject.

As of March 31, 2015 and December 31, 2014, the Bank’s capital ratios exceeded those levels necessary to be categorized as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized”, the Bank must maintain minimum total risk‑based, Tier 1 risk‑based and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since March 31, 2015 that management believes have changed the Bank’s category.

A comparison of the Company’s and Bank’s actual capital amounts and ratios to required capital amounts and ratios is presented in the following table:


												To Be Well
												Capitalized Under
						For Capital						Prompt Corrective
	Actual					Adequacy Purposes						Action Provisions
	Amount		Ratio			Amount			Ratio			Amount			Ratio
As of March 31, 2015
Total capital (to risk weighted assets)
Company	$	109,414	17.16	%	≥	$	51,015	≥	8.0	%	≥		N/A	≥	N/A
Bank	$	82,235	12.91	%	≥	$	50,977	≥	8.0	%	≥	$	63,722	≥	10.0	%
Tier 1 capital (to risk weighted assets)
Company	$	98,427	15.43	%	≥	$	25,508	≥	4.0	%	≥		N/A	≥	N/A
Bank	$	76,229	11.96	%	≥	$	25,489	≥	4.0	%	≥	$	38,233	≥	6.0	%
Tier 1 capital (to average assets)
Company	$	98,427	12.78	%	≥	$	30,800	≥	4.0	%	≥		N/A	≥	N/A
Bank	$	76,229	9.90	%	≥	$	30,790	≥	4.0	%	≥	$	38,487	≥	5.0	%
As of December 31, 2014
Total capital (to risk weighted assets)
Company	$	107,197	17.22	%	≥	$	49,814	≥	8.0	%	≥		N/A	≥	N/A
Bank	$	79,616	12.79	%	≥	$	49,788	≥	8.0	%	≥	$	62,235	≥	10.0	%
Tier 1 capital (to risk weighted assets)
Company	$	96,236	15.46	%	≥	$	24,907	≥	4.0	%	≥		N/A	≥	N/A
Bank	$	73,635	11.83	%	≥	$	24,894	≥	4.0	%	≥	$	37,341	≥	6.0	%
Tier 1 capital (to average assets)
Company	$	96,236	12.66	%	≥	$	30,400	≥	4.0	%	≥		N/A	≥	N/A
Bank	$	73,635	9.69	%	≥	$	30,386	≥	4.0	%	≥	$	37,983	≥	5.0	%

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1G
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958577-112826

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1C
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958572-112826

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1E
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958574-112826

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1H
-URI http://asc.fasb.org/extlink&oid=35709795&loc=d3e65071-112826

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958569-112826

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958570-112826

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1F
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958575-112826

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958568-112826

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1D
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958573-112826

+ Details

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2015

Summary of Significant Accounting Policies

Basis of Presentation

Initial Public Offering (IPO)

Initial Public Offering (IPO):

Earnings Per Share


	For the Three Months Ended March 31,
	2015		2014
Earnings (numerator)
Net income for common stockholders	$	1,824	$	958
Less: preferred stock dividends		20		20
Net income allocated to common stockholders	$	1,804	$	938
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)		9,448		6,140
Dilutive effect of employee stock-based awards		296		128
Adjusted weighted average shares outstanding		9,744		6,268
Earnings per share:
Basic	$	0.19	$	0.15
Diluted	$	0.19	$	0.15

Summary of Significant Accounting Policy (Tables)

3 Months Ended

Mar. 31, 2015

Summary of Significant Accounting Policies

Schedule of reconciliation between weighted average shares used for calculating basic and diluted EPS


	For the Three Months Ended March 31,
	2015		2014
Earnings (numerator)
Net income for common stockholders	$	1,824	$	958
Less: preferred stock dividends		20		20
Net income allocated to common stockholders	$	1,804	$	938
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)		9,448		6,140
Dilutive effect of employee stock-based awards		296		128
Adjusted weighted average shares outstanding		9,744		6,268
Earnings per share:
Basic	$	0.19	$	0.15
Diluted	$	0.19	$	0.15

Investment Securities (Tables)

3 Months Ended

Mar. 31, 2015

Investment Securities

Schedule of carrying amount and approximate fair values of available-for-sale securities


	March 31, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Available for Sale
U.S. government agencies	$	1,877	$	—	$	23	$	1,854
Corporate bonds		—		—		—		—
Municipal securities		3,399		23		20		3,402
Mortgage-backed securities		35,640		238		74		35,804
Collateralized mortgage obligations		11,130		131		27		11,234
Asset-backed securities		1,076		21		—		1,097
	$	53,122	$	413	$	144	$	53,391


	December 31, 2014
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Available for Sale
U.S. government agencies	$	1,928	$	—	$	47	$	1,881
Corporate bonds		500		—		—		500
Municipal securities		965		22		—		987
Mortgage-backed securities		28,588		256		73		28,771
Collateralized mortgage obligations		11,752		124		37		11,839
Asset-backed securities		1,134		15		—		1,149
	$	44,867	$	417	$	157	$	45,127

Schedule of investment securities that have been in a continuous unrealized loss position


	March 31, 2015
	Less Than 12 Months				12 Months or More				Totals
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
Available for Sale
U.S. government agencies	$	499	$	1	$	1,355	$	22	$	1,854	$	23
Municipal securities		2,407		20		—		—		2,407		20
Mortgage-backed securities		14,558		66		1,881		8		16,439		74
Collateralized mortgage obligations		1,375		4		2,346		23		3,721		27
	$	18,839	$	91	$	5,582	$	53	$	24,421	$	144


	December 31, 2014
	Less Than 12 Months				12 Months or More				Totals
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
Available for Sale
U.S. government agencies	$	—	$	—	$	1,881	$	47	$	1,881	$	47
Mortgage-backed securities		10,148		39		3,572		34		13,720		73
Collateralized mortgage obligations		1,580		7		2,442		30		4,022		37
	$	11,728	$	46	$	7,895	$	111	$	19,623	$	157

Schedule of amortized costs and estimated fair values of securities available for sale, by contractual maturity


	March 31, 2015
	Available For Sale
	Amortized		Fair
	Cost		Value
Due in one year or less	$	972	$	995
Due from one year to five years		933		924
Due from five years to ten years		944		930
Due after ten years		2,427		2,407
		5,276		5,256
Mortgage-backed securities		35,640		35,804
Collateralized mortgage obligations		11,130		11,234
Asset-backed securities		1,076		1,097
	$	53,122	$	53,391


	December 31, 2014
	Available For Sale
	Amortized Cost		Fair Value
Due in one year or less	$	500	$	500
Due from one year to five years		1,930		1,932
Due from five years to ten years		963		936
Due after ten years		—		—
		3,393		3,368
Mortgage-backed securities		28,588		28,771
Collateralized mortgage obligations		11,752		11,839
Asset-backed securities		1,134		1,149
	$	44,867	$	45,127

Schedule of proceeds from sales of investment securities available for sale and gross gains and losses


	For the Three Months Ended March 31,		For the Three Months Ended March 31,
	2015		2014
Proceeds from sales	$	3,778	$	981
Gross realized gains		7		34
Gross realized losses		—		—

Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2015

Loans and Allowance for Loan Losses

Summary of loans


	March 31,		December 31,
	2015		2014
Real estate:
Construction and land	$	84,030	$	69,966
Farmland		10,156		10,528
1 - 4 family residential		113,392		105,788
Multi-family residential		9,540		9,964
Nonfarm nonresidential		190,967		195,839
Commercial		204,061		207,101
Consumer		3,349		4,124
		615,495		603,310
Deferred loan fees		(50)		(51)
Allowance for loan losses		(6,006)		(5,981)
	$	609,439	$	597,278

Schedule of non-accrual loans, excluding purchased credit impaired loans, aggregated by class of loans


	March 31,		December 31,
	2015		2014
Real estate:
Construction and land		—	$	—
Farmland		—		—
1 - 4 family residential		—		—
Multi-family residential		—		—
Nonfarm nonresidential		—		375
Commercial		297		34
Consumer		26		27
	$	323	$	436

Schedule of age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans


	March 31, 2015
													Total 90 Days
													Past Due
	30 to 59		60 to 89		90 Days		Total		Total		Total		and Still
	Days		Days		or Greater		Past Due		Current		Loans		Accruing
Real estate:
Construction and land	$	—	$	—	$	—	$	—	$	84,030	$	84,030	$	—
Farmland		—		—		—		—		10,156		10,156		—
1 - 4 family residential		30		—		—		30		113,362		113,392		—
Multi-family residential		—		—		—		—		9,540		9,540		—
Nonfarm nonresidential		—		—		—		—		190,967		190,967		—
Commercial		269		—		—		269		203,792		204,061		—
Consumer		—		—		—		—		3,349		3,349		—
	$	299	$	—	$	—	$	299	$	615,196	$	615,495	$	—


	December 31, 2014
													Total 90 Days
													Past Due
	30 to 59		60 to 89		90 Days		Total		Total		Total		and Still
	Days		Days		or Greater		Past Due		Current		Loans		Accruing
Real estate:
Construction and land	$	12	$	—	$	541	$	553	$	69,413	$	69,966	$	—
Farmland		—		—		—		—		10,528		10,528		—
1 - 4 family residential		512		—		—		512		105,276		105,788		—
Multi-family residential		—		—		—		—		9,964		9,964		—
Nonfarm nonresidential		—		375		—		375		195,464		195,839		—
Commercial		6		34		—		40		207,061		207,101		—
Consumer		26		—		—		26		4,098		4,124		—
	$	556	$	409	$	541	$	1,506	$	601,804	$	603,310	$	—

Summary of impaired loans, including purchased credit impaired loans and trouble debt restructurings


	March 31, 2015
	Unpaid		Recorded		Recorded						Average
	Contractual		Investment		Investment		Total				Recorded
	Principal		with No		With		Recorded		Related		Investment
	Balance		Allowance		Allowance		Investment		Allowance		During Year
Real estate:
Construction and land	$	—	$	—	$	—	$	—	$	—	$	42
Farmland		—		—		—		—		—		—
1 - 4 family residential		168		168		—		168		—		168
Multi-family residential		—		—		—		—		—		—
Nonfarm nonresidential		1,104		1,104		—		1,104		—		1,107
Commercial		482		183		299		482		113		254
Consumer		29		7		22		29		10		32
Total	$	1,783	$	1,462	$	321	$	1,783	$	123	$	1,603


	December 31, 2014
	Unpaid		Recorded		Recorded						Average
	Contractual		Investment		Investment		Total				Recorded
	Principal		with No		With		Recorded		Related		Investment
	Balance		Allowance		Allowance		Investment		Allowance		During Year
Real estate:
Construction and land	$	819	$	—	$	541	$	541	$	44	$	611
Farmland		—		—		—		—		—		—
1 - 4 family residential		168		168		—		168		—		205
Multi-family residential		—		—		—		—		—		—
Nonfarm nonresidential		1,086		1,086		—		1,086		—		980
Commercial		223		183		40		223		30		361
Consumer		38		8		30		38		13		44
Total	$	2,334	$	1,445	$	611	$	2,056	$	87	$	2,201

Schedule of terms of certain loans that were modified as troubled debt restructurings


				During the three months ended March 31, 2015
				Post-Modification Outstanding Recorded Investment
										Extended
		Pre-						Extended		Maturity,
		Modification						Maturity		Restructured
		Outstanding		Adjusted				and		Payments and
	Number	Recorded		Interest		Extended		Restructured		Adjusted
	of Loans	Investment		Rate		Maturity		Payments		Interest Rate
Real estate loans:
Construction and land	—	$	—	$	—	$	—	$	—	$	—
Farmland	—		—		—		—		—		—
1 - 4 family residential	—		—		—		—		—		—
Multi-family residential	—		—		—		—		—		—
Nonfarm nonresidential	—		399		—		—		—		397
Commercial	1		—		—		—		—		—
Consumer	—		—		—		—		—		—
Total	1	$	399	$	—	$	—	$	—	$	397


				During the three months ended March 31, 2014
				Post-Modification Outstanding Recorded Investment
										Extended
		Pre-						Extended		Maturity,
		Modification						Maturity		Restructured
		Outstanding		Adjusted				and		Payments and
	Number	Recorded		Interest		Extended		Restructured		Adjusted
	of Loans	Investment		Rate		Maturity		Payments		Interest Rate
Real estate loans:
Construction and land	—	$	—	$	—	$	—	$	—	$	—
Farmland	—		—		—		—		—		—
1 - 4 family residential	—		—		—		—		—		—
Multi-family residential	—		—		—		—		—		—
Nonfarm nonresidential	—		—		—		—		—		—
Commercial	—		—		—		—		—		—
Consumer	2		17		—		11		6		—
Total	2	$	17	$	—	$	11	$	6	$	—

Summary of internal ratings of loans, including purchased credit impaired loans


	March 31, 2015
			Special
	Pass		Mention		Substandard		Doubtful		Total
Real estate:
Construction and land	$	84,030	$	—	$	—	$	—	$	84,030
Farmland		10,156		—		—		—		10,156
1 - 4 family residential		113,055		—		337		—		113,392
Multi-family residential		9,540		—		—		—		9,540
Nonfarm nonresidential		190,570		397		—		—		190,967
Commercial		202,238		1,143		680		—		204,061
Consumer		3,320		—		29		—		3,349
Total	$	612,909	$	1,540	$	1,046	$	—	$	615,495


	December 31, 2014
			Special
	Pass		Mention		Substandard		Doubtful		Total
Real estate:
Construction and land	$	69,425	$	—	$	541	$	—	$	69,966
Farmland		10,528		—		—		—		10,528
1 - 4 family residential		105,786		—		2		—		105,788
Multi-family residential		9,964		—		—		—		9,964
Nonfarm nonresidential		195,464		—		375		—		195,839
Commercial		205,681		672		748		—		207,101
Consumer		3,925		—		199		—		4,124
Total	$	600,773	$	672	$	1,865	$	—	$	603,310

Schedule of analysis of the allowance for loan losses


	For the		For the		For the
	Three Months Ended		Year Ended		Three Months Ended
	2015		2014		2014
Balance at beginning of year	$	5,981	$	5,018	$	5,018
Provision charged to earnings		110		1,423		252
Charge-offs		(102)		(510)		(60)
Recoveries		17		50		5
Net charge-offs		(85)		(460)		(55)
Balance at end of year	$	6,006	$	5,981	$	5,215

Summary of activity in the allowance for loan losses by class of loans


	March 31, 2015
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of year	$	769	$	1,166	$	1,890	$	2,092	$	64	$	5,981
Provision (recapture) charged to earnings		137		74		(54)		(40)		(7)		110
Charge-offs		(48)		—		—		(50)		(4)		(102)
Recoveries		—		—		5		12		—		17
Net charge-offs (recoveries)		(48)		—		5		(38)		(4)		(85)
Balance at end of year	$	858	$	1,240	$	1,841	$	2,014	$	53	$	6,006
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	—	$	—	$	—	$	113	$	10	$	123
Total specific reserves		—		—		—		113		10		123
General reserves		858		1,240		1,841		1,901		43		5,883
Total	$	858	$	1,240	$	1,841	$	2,014	$	53	$	6,006


	December 31, 2014
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of year	$	660	$	970	$	1,726	$	1,585	$	77	$	5,018
Provision (recapture) charged to earnings		137		226		162		909		(11)		1,423
Charge-offs		(28)		(30)		—		(448)		(4)		(510)
Recoveries		—		—		2		46		2		50
Net charge-offs (recoveries)		(28)		(30)		2		(402)		(2)		(460)
Balance at end of year	$	769	$	1,166	$	1,890	$	2,092	$	64	$	5,981
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	44	$	—	$	—	$	30	$	13	$	87
Total specific reserves		44		—		—		30		13		87
General reserves		725		1,166		1,890		2,062		51		5,894
Total	$	769	$	1,166	$	1,890	$	2,092	$	64	$	5,981


	March 31, 2014
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of year	$	660	$	970	$	1,726	$	1,585	$	77	$	5,018
Provision (recapture) charged to earnings		(6)		150		(372)		493		(13)		252
Charge-offs		—		—		—		(60)		—		(60)
Recoveries		—		—		—		3		2		5
Net charge-offs (recoveries)		—		—		—		(57)		2		(55)
Balance at end of year	$	654	$	1,120	$	1,354	$	2,021	$	66	$	5,215
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	—	$	26	$	—	$	—	$	—	$	26
Total specific reserves		—		26		—		—		—		26
General reserves		654		1,094		1,354		2,021		66		5,189
Total	$	654	$	1,120	$	1,354	$	2,021	$	66	$	5,215

Schedule of recorded investment in loans related to the balance in the allowance for loan losses on the basis of the Company's impairment methodology


	March 31, 2015
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Loans individually evaluated for impairment	$	—	$	168	$	1,104	$	482	$	29	$	1,783
Loans collectively evaluated for impairment		94,186		122,764		189,863		203,579		3,320		613,712
Total	$	94,186	$	122,932	$	190,967	$	204,061	$	3,349	$	615,495


	December 31, 2014
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Loans individually evaluated for impairment	$	541	$	168	$	1,086	$	223	$	38	$	2,056
Loans collectively evaluated for impairment		79,953		115,584		194,753		206,878		4,086		601,254
Total	$	80,494	$	115,752	$	195,839	$	207,101	$	4,124	$	603,310

Other Non-interest Expense (Tables)

3 Months Ended

Mar. 31, 2015

Other Non-interest Expense

Schedule of other non-interest expense


	For the Three Months Ended March 31,
	2015		2014
Business development	$	101	$	61
Office and postage		140		57
Director fees		35		20
Insurance		30		24
Security		21		34
Charitable contributions and donations		78		65
Travel		7		5
Training		10		10
Other		235		197
Total	$	657	$	473

Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures

Schedule of assets measured at fair value on a recurring basis


	Fair Value
	Measurements Using
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
As of March 31, 2015
Investment securities available for sale	$	—	$	53,391	$	—	$	53,391
As of December 31, 2014
Investment securities available for sale	$	—	$	45,127	$	—	$	45,127

Schedule of assets measured at fair value on a non-recurring basis


	Fair Value
	Measurements Using
	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
As of March 31, 2015
Assets:
Impaired loans	$	—	$	—	$	1,783	$	1,783
Other real estate owned	$	—	$	—	$	493	$	493
As of December 31, 2014
Assets:
Impaired loans	$	—	$	—	$	2,056	$	2,056
Other real estate owned	$	—	$	—	$	50	$	50

Schedule of significant unobservable inputs used in the fair value measurements


March 31, 2015
			Valuation	Unobservable	Weighted
Assets/Liabilities	Fair Value		Technique	Input(s)	Average
Impaired loans	$	1,783	Collateral Method	Adjustments for selling costs	8	%
Other real estate owned	$	493	Collateral Method	Adjustments for selling costs	8	%


December 31, 2014
			Valuation	Unobservable	Weighted
Assets/Liabilities	Fair Value		Technique	Input(s)	Average
Impaired loans	$	2,056	Collateral Method	Adjustments for selling costs	8	%
Other real estate owned	$	50	Collateral Method	Adjustments for selling costs	8	%

Schedule of estimated fair values and carrying values of all financial instruments



	March 31,				December 31,
	2015				2014
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	85,544	$	85,544	$	93,251	$	93,251
Securities available for sale		53,391		53,391		45,127		45,127
Loans held for sale		2,508		2,508		8,858		8,858
Accrued interest receivable		1,539		1,539		1,542		1,542
Bank-owned life insurance		17,969		17,969		17,822		17,822
Non-marketable equity securities		3,136		3,136		4,139		4,139
Level 3 inputs:
Loans, net		609,439		606,819		597,278		596,138
Financial liabilities:
Level 2 inputs:
Deposits	$	668,255	$	659,415	$	638,743	$	630,402
Advances from FHLB		15,000		15,029		40,000		40,028
Accrued interest payable		110		110		126		126
Junior subordinated debentures		3,093		3,093		3,093		3,093
Subordinated notes		4,981		4,981		4,981		4,981

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies

Schedule of minimum future rental payments under non-cancelable operating leases


	March 31,		December 31,
	2015		2014
Commitments to extend credit	$	173,434	$	144,224
Standby letters of credit		1,038		818
	$	174,472	$	145,042

Financial Instruments with Off-Balance Sheet Risk (Tables)

3 Months Ended

Mar. 31, 2015

Financial Instruments with Off-Balance Sheet Risk Disclosure [Abstract]

Schedule of the approximate amounts of financial instruments with off-balance sheet risk


	March 31,		December 31,
	2015		2014
Commitments to extend credit	$	173,434	$	144,224
Standby letters of credit		1,038		818
	$	174,472	$	145,042

Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2015

Employee Benefits

Summary of ESOP shares


	March 31,		December 31,
	2015		2014
Allocated shares		16,958		16,958
Unearned shares		36,935		36,935
Total ESOP shares		53,893		53,893
Fair value of unearned shares	$	516	$	523

Stock Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2015

2010 Stock Option and Equity Incentive Plan

Schedule of assumptions used to measure fair value of each option award estimated on grant date using Black-Scholes option-pricing model


	For the Three Months Ended March 31,
	2015	2014
Dividend yield	—	0.00%
Expected life	—	10 years
Expected volatility	—	5.60%
Risk-free interest rate	—	2.71%

Summary of option activity


	2015
	Nonperformance-based stock options				Performance-based stock options
				Weighted		Weighted		Weighted
	Shares	Weighted		Average	Shares	Average		Average
	Underlying	Exercise		Contractual	Underlying	Exercise		Contractual
	Options	Price		Term	Options	Price		Term
Outstanding at beginning of year	352,500	$	10.14	6.58 years	—	$	—	—
Granted during the period	—		—		—		—
Forfeited during the period	—		—		—		—
Cancelled during the period	—		—		—		—
Exercised during the period	—		—		—		—
Outstanding at the end of period	352,500	$	10.14	6.33 years	—	$	—	—
Options exercisable at end of period	245,000	$	10.05	6.10 years	—	$	—	—
Weighted average fair value of options granted during the period		$	—			$	—


	2014
	Nonperformance-based stock options				Performance-based stock options
				Weighted		Weighted		Weighted
	Shares	Weighted		Average	Shares	Average		Average
	Underlying	Exercise		Contractual	Underlying	Exercise		Contractual
	Options	Price		Term	Options	Price		Term
Outstanding at beginning of year	327,500	$	10.03	7.69 years	422,500	$	10.02	8.0 years
Granted during the period	20,000		10.85		40,000		10.85
Forfeited during the period	—		—		—		—
Exercised during the period	—		—		—		—
Outstanding at the end of period	347,500	$	10.07	7.57 years	462,500	$	10.09	8.0 years
Options exercisable at end of period	179,800	$	10.39	6.36 years	—	$	—	—
Weighted average fair value of options granted during the period		$	2.62			$	2.74

Summary of status of the Company's restricted shares or restricted stock units


	2015			2014
		Weighted			Weighted
		Average			Average
		Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value
Nonvested at January 1,	62,250	$	10.86	35,000	$	10.00
Granted during the period	—		—	13,500		10.85
Vested during the period	(20,000)		10.00	—		—
Forfeited during the period	—		—	(250)		10.85
Nonvested at March 31,	42,250	$	11.30	48,250	$	10.25

Omnibus Plan

Schedule of assumptions used to measure fair value of each option award estimated on grant date using Black-Scholes option-pricing model


	For the Three Months Ended March 31,
	2015	2014
Dividend yield	0.00%	—
Expected life	6 years	—
Expected volatility	37.00%	—
Risk-free interest rate	1.81%	—

Summary of status of the Company's restricted shares or restricted stock units


	2015
		Weighted
		Average
		Grant Date
	Shares	Fair Value
Nonvested at January 1,	82,903	$	13.00
Granted during the period	25,474		14.17
Vested during the period	—		—
Forfeited during the period	—		—
Nonvested at March 31,	108,377	$	13.28

Capital Requirements and Restrictions on Retained Earnings (Tables)

3 Months Ended

Mar. 31, 2015

Capital Requirements and Restrictions on Retained Earnings Disclosure [Abstract]

Schedule of comparison of the Company's and Bank's actual capital amounts and ratios to required capital amounts and ratios


												To Be Well
												Capitalized Under
						For Capital						Prompt Corrective
	Actual					Adequacy Purposes						Action Provisions
	Amount		Ratio			Amount			Ratio			Amount			Ratio
As of March 31, 2015
Total capital (to risk weighted assets)
Company	$	109,414	17.16	%	≥	$	51,015	≥	8.0	%	≥		N/A	≥	N/A
Bank	$	82,235	12.91	%	≥	$	50,977	≥	8.0	%	≥	$	63,722	≥	10.0	%
Tier 1 capital (to risk weighted assets)
Company	$	98,427	15.43	%	≥	$	25,508	≥	4.0	%	≥		N/A	≥	N/A
Bank	$	76,229	11.96	%	≥	$	25,489	≥	4.0	%	≥	$	38,233	≥	6.0	%
Tier 1 capital (to average assets)
Company	$	98,427	12.78	%	≥	$	30,800	≥	4.0	%	≥		N/A	≥	N/A
Bank	$	76,229	9.90	%	≥	$	30,790	≥	4.0	%	≥	$	38,487	≥	5.0	%
As of December 31, 2014
Total capital (to risk weighted assets)
Company	$	107,197	17.22	%	≥	$	49,814	≥	8.0	%	≥		N/A	≥	N/A
Bank	$	79,616	12.79	%	≥	$	49,788	≥	8.0	%	≥	$	62,235	≥	10.0	%
Tier 1 capital (to risk weighted assets)
Company	$	96,236	15.46	%	≥	$	24,907	≥	4.0	%	≥		N/A	≥	N/A
Bank	$	73,635	11.83	%	≥	$	24,894	≥	4.0	%	≥	$	37,341	≥	6.0	%
Tier 1 capital (to average assets)
Company	$	96,236	12.66	%	≥	$	30,400	≥	4.0	%	≥		N/A	≥	N/A
Bank	$	73,635	9.69	%	≥	$	30,386	≥	4.0	%	≥	$	37,983	≥	5.0	%

Summary of Sgnificant Accounting Policies - Nature of Organization (Details)	3 Months Ended
	Mar. 31, 2015 item
Nature of Organization
Number of Branches	8
Number of mortgage offices	1

Summary of Significant Accounting Policies - IPO (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Oct. 31, 2014	Mar. 31, 2015	Dec. 31, 2014	Sep. 22, 2014
Initial Public Offering [Abstract]
Common stock, shares authorized		75,000,000	75,000,000	75,000,000
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized		10,000,000	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)		$ 0.01	$ 0.01	$ 1.00
Series C preferred stock, shares issued		8,000	8,000	8,000
Series C preferred stock, shares outstanding		8,000	8,000
Initial public offering
Initial Public Offering [Abstract]
Shares of common stock sold and issued	3,105,000
Initial public offering price (in dollars per share)	$ 13
Proceeds received, net of offering costs	$ 36,000

Summary of Significant Accounting Policies - Pending Merger (Details) $ in Thousands	Mar. 09, 2015 USD ($) item shares	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Business Combinations [Abstract]
Total assets		$ 808,906	$ 802,286
Total loans		609,439	597,278
Total deposits		$ 668,255	638,743
IBT
Business Combinations [Abstract]
Number of banking location in the Dallas metropolitan area. \| item	2
Total assets			121,000
Total loans			99,000
Total deposits			$ 104,000
Number of common stock issues \| shares	1,185,185
Payments in cash	$ 4,000,000

Summary of Significant Accounting Policy - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings (numerator)
Net income for common stockholders	$ 1,824	$ 958
Less: preferred stock dividends	20	20
Net income available to common stockholders	$ 1,804	$ 938
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)	9,448	6,140
Dilutive effect of employee stock based awards and warrants	296	128
Adjusted weighted average shares outstanding	9,744	6,268
Earnings per share:
Basic (in dollars per share)	$ 0.19	$ 0.15
Diluted (in dollars per share)	$ 0.19	$ 0.15

Summary of Significant Accounting Policies - Antidilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Performance-based stock options
Earnings Per Share
Excluded from diluted EPS weighted average shares	44,080	452,000

Common Stock and Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Mar. 31, 2014	Jan. 31, 2014	Mar. 31, 2015	Dec. 31, 2014	Sep. 22, 2014
Common Stock and Preferred Stock
Common stock, par value (in dollars per share)			$ 0.01	$ 0.01	$ 0.01
Private offering
Common Stock and Preferred Stock
Maximum number of shares offered		500,000
Common stock, par value (in dollars per share)		$ 0.01
Private offering price (in dollars per share)		$ 10.85	$ 10
Shares of common stock issued	490,773		17,274
Total proceeds from issuance of common stock	$ 5,325		$ 173
Offering costs	$ 60			$ 61

Investment Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Available for Sale securities
Amortized Cost	$ 53,122	$ 44,867
Gross Unrealized Gains	413	417
Gross Unrealized Losses	144	157
Fair Value	53,391	45,127
U.S. government agencies
Available for Sale securities
Amortized Cost	1,877	1,928
Gross Unrealized Losses	23	47
Fair Value	1,854	1,881
Corporate bonds
Available for Sale securities
Amortized Cost		500
Fair Value		500
Municipal securities
Available for Sale securities
Amortized Cost	3,399	965
Gross Unrealized Gains	23	22
Gross Unrealized Losses	20
Fair Value	3,402	987
Mortgage-backed securities
Available for Sale securities
Amortized Cost	35,640	28,588
Gross Unrealized Gains	238	256
Gross Unrealized Losses	74	73
Fair Value	35,804	28,771
Collateralized mortgage obligations
Available for Sale securities
Amortized Cost	11,130	11,752
Gross Unrealized Gains	131	124
Gross Unrealized Losses	27	37
Fair Value	11,234	11,839
Asset-backed securities
Available for Sale securities
Amortized Cost	1,076	1,134
Gross Unrealized Gains	21	15
Fair Value	$ 1,097	$ 1,149

Investment Securities - Unrealized Loss Position (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2015 USD ($) item	Dec. 31, 2014 USD ($)
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	$ 18,839	$ 11,728
Less Than 12 Months, Unrealized Loss	91	46
12 Months or More, Fair Value	5,582	7,895
12 Months or More, Unrealized Loss	53	111
Total Fair Value	24,421	19,623
Total Unrealized Loss	$ 144	157
Number of investment positions in an unrealized loss position \| item	23
U.S. government agencies
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	$ 499
Less Than 12 Months, Unrealized Loss	1
12 Months or More, Fair Value	1,355	1,881
12 Months or More, Unrealized Loss	22	47
Total Fair Value	1,854	1,881
Total Unrealized Loss	23	47
Municipal securities
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	2,407
Less Than 12 Months, Unrealized Loss	20
Total Fair Value	2,407
Total Unrealized Loss	20
Mortgage-backed securities
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	14,558	10,148
Less Than 12 Months, Unrealized Loss	66	39
12 Months or More, Fair Value	1,881	3,572
12 Months or More, Unrealized Loss	8	34
Total Fair Value	16,439	13,720
Total Unrealized Loss	74	73
Collateralized mortgage obligations
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	1,375	1,580
Less Than 12 Months, Unrealized Loss	4	7
12 Months or More, Fair Value	2,346	2,442
12 Months or More, Unrealized Loss	23	30
Total Fair Value	3,721	4,022
Total Unrealized Loss	$ 27	$ 37

Investment Securities - Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Amortized costs of securities available for sale, by contractual maturity
Due in one year or less	$ 972	$ 500
Due from one year to five years	933	1,930
Due from five years to ten years	944	963
Due after ten years	2,427
Total investment securities available for sale, single maturity date	5,276	3,393
Total investment securities available for sale, amortized cost basis	53,122	44,867
Estimated fair values of securities available for sale, by contractual maturity
Due in one year or less	995	500
Due from one year to five years	924	1,932
Due from five years to ten years	930	936
Due after ten years	2,407
Total investment securities available for sale	5,256	3,368
Total investment securities available for sale, fair value	53,391	45,127
Mortgage-backed securities
Amortized costs of securities available for sale, by contractual maturity
Amortized Cost	35,640	28,588
Estimated fair values of securities available for sale, by contractual maturity
Fair Value	35,804	28,771
Collateralized mortgage obligations
Amortized costs of securities available for sale, by contractual maturity
Amortized Cost	11,130	11,752
Estimated fair values of securities available for sale, by contractual maturity
Fair Value	11,234	11,839
Asset-backed securities
Amortized costs of securities available for sale, by contractual maturity
Amortized Cost	1,076	1,134
Estimated fair values of securities available for sale, by contractual maturity
Fair Value	$ 1,097	$ 1,149

Investment Securities - Proceeds and Gross Gains/Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Proceeds from sales of investment securities available for sale and gross gains and losses
Proceeds from sales	$ 3,778	$ 981
Gross realized gains	$ 7	$ 34

Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Loans and Allowance for Loan Losses
Loans, gross	$ 615,495	$ 603,310
Deferred loan fees	(50)	(51)
Allowance for loan losses	(6,006)	(5,981)	$ (5,215)	$ (5,018)
Loans, net	609,439	597,278
Accretable discount related to loans acquired within a business combination	137	185
Construction and land
Loans and Allowance for Loan Losses
Loans, gross	84,030	69,966
Farmland
Loans and Allowance for Loan Losses
Loans, gross	10,156	10,528
1 - 4 family residential
Loans and Allowance for Loan Losses
Loans, gross	113,392	105,788
Multi-family residential
Loans and Allowance for Loan Losses
Loans, gross	9,540	9,964
Nonfarm nonresidential
Loans and Allowance for Loan Losses
Loans, gross	190,967	195,839
Allowance for loan losses	(1,841)	(1,890)	(1,354)	(1,726)
Commercial
Loans and Allowance for Loan Losses
Loans, gross	204,061	207,101
Allowance for loan losses	(2,014)	(2,092)	(2,021)	(1,585)
Consumer
Loans and Allowance for Loan Losses
Loans, gross	3,349	4,124
Allowance for loan losses	$ (53)	$ (64)	$ (66)	$ (77)

Loans and Allowance for Loan Losses - Nonaccrual (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Loans and Allowance for Loan Losses
Non-accrual loans, excluding purchased credit impaired loans	$ 323	$ 436
Nonfarm nonresidential
Loans and Allowance for Loan Losses
Non-accrual loans, excluding purchased credit impaired loans		375
Commercial
Loans and Allowance for Loan Losses
Non-accrual loans, excluding purchased credit impaired loans	297	34
Consumer
Loans and Allowance for Loan Losses
Non-accrual loans, excluding purchased credit impaired loans	$ 26	$ 27

Loans and Allowance for Loan Losses - Past Due (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
30-59 Days	$ 299	$ 556
60-89 Days		409
90 Days or Greater		541
Total Past Due	299	1,506
Total Current	615,196	601,804
Total Loans	615,495	603,310
Construction and land
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
30-59 Days		12
90 Days or Greater		541
Total Past Due		553
Total Current	84,030	69,413
Total Loans	84,030	69,966
Farmland
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Current	10,156	10,528
Total Loans	10,156	10,528
1 - 4 family residential
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
30-59 Days	30	512
Total Past Due	30	512
Total Current	113,362	105,276
Total Loans	113,392	105,788
Multi-family residential
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Current	9,540	9,964
Total Loans	9,540	9,964
Nonfarm nonresidential
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
60-89 Days		375
Total Past Due		375
Total Current	190,967	195,464
Total Loans	190,967	195,839
Commercial
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
30-59 Days	269	6
60-89 Days		34
Total Past Due	269	40
Total Current	203,792	207,061
Total Loans	204,061	207,101
Consumer
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
30-59 Days		26
Total Past Due		26
Total Current	3,349	4,098
Total Loans	$ 3,349	$ 4,124

Loans and Allowance for Loan Losses - Imparied Loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Impaired Loans
Unpaid Contractual Principal Balance	$ 1,783	$ 2,334
Recorded Investment with No Allowance	1,462	1,445
Recorded Investment with Allowance	321	611
Total Recorded Investment	1,783	2,056
Related Allowance	123	87
Average Recorded Investment During Year	1,603	2,201
Construction and land
Impaired Loans
Unpaid Contractual Principal Balance		819
Recorded Investment with Allowance		541
Total Recorded Investment		541
Related Allowance		44
Average Recorded Investment During Year	42	611
1 - 4 family residential
Impaired Loans
Unpaid Contractual Principal Balance	168	168
Recorded Investment with No Allowance	168	168
Total Recorded Investment	168	168
Average Recorded Investment During Year	168	205
Nonfarm nonresidential
Impaired Loans
Unpaid Contractual Principal Balance	1,104	1,086
Recorded Investment with No Allowance	1,104	1,086
Total Recorded Investment	1,104	1,086
Average Recorded Investment During Year	1,107	980
Commercial
Impaired Loans
Unpaid Contractual Principal Balance	482	223
Recorded Investment with No Allowance	183	183
Recorded Investment with Allowance	299	40
Total Recorded Investment	482	223
Related Allowance	113	30
Average Recorded Investment During Year	254	361
Consumer
Impaired Loans
Unpaid Contractual Principal Balance	29	38
Recorded Investment with No Allowance	7	8
Recorded Investment with Allowance	22	30
Total Recorded Investment	29	38
Related Allowance	10	13
Average Recorded Investment During Year	$ 32	$ 44

Loans and Allowance for Loan Losses - Trouble Debt Restructuring (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2015 USD ($) loan	Dec. 31, 2014 USD ($) loan
Troubled Debt Restructuring
Recorded investment in TDRs	$ 1,511	$ 1,677
Number of Loans \| loan	1	2
Pre-Modification Outstanding Recorded Investment	$ 399	$ 17
Post-Modification Outstanding Recorded Investment
Extended Maturity		11
Extended Maturity and Restructured Payments		$ 6
Extended Maturity, Restructured Payments and Adjusted Interest Rate	397
Nonfarm nonresidential
Troubled Debt Restructuring
Pre-Modification Outstanding Recorded Investment	399
Post-Modification Outstanding Recorded Investment
Extended Maturity, Restructured Payments and Adjusted Interest Rate	$ 397
Commercial
Troubled Debt Restructuring
Number of Loans \| loan	1
Consumer
Troubled Debt Restructuring
Number of Loans \| loan		2
Pre-Modification Outstanding Recorded Investment		$ 17
Post-Modification Outstanding Recorded Investment
Extended Maturity		11
Extended Maturity and Restructured Payments		$ 6

Loans and Allowance for Loan Losses - TDR's additional information (Details) - loan	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Loans and Allowance for Loan Losses
Number of loans restructured performing as agreed to modified terms	2
Number of loans modified as a troubled debt restructured loan within previous 12 months and for which there was a payment default	0	1
Period of time payment is past due for trouble debt restructuring to be default.	90 days

Loans and Allowance for Loan Losses - Credit Quality Indicators (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2015 USD ($) loan	Dec. 31, 2014 USD ($)
Credit Quality Indicators
Number of categories, credit risk \| loan	4
Loans	$ 615,495	$ 603,310
Pass
Credit Quality Indicators
Loans	612,909	600,773
Special Mention
Credit Quality Indicators
Loans	1,540	672
Substandard
Credit Quality Indicators
Loans	1,046	1,865
Construction and land
Credit Quality Indicators
Loans	84,030	69,966
Construction and land \| Pass
Credit Quality Indicators
Loans	84,030	69,425
Construction and land \| Substandard
Credit Quality Indicators
Loans		541
Farmland
Credit Quality Indicators
Loans	10,156	10,528
Farmland \| Pass
Credit Quality Indicators
Loans	10,156	10,528
1 - 4 family residential
Credit Quality Indicators
Loans	113,392	105,788
1 - 4 family residential \| Pass
Credit Quality Indicators
Loans	113,055	105,786
1 - 4 family residential \| Substandard
Credit Quality Indicators
Loans	337	2
Multi-family residential
Credit Quality Indicators
Loans	9,540	9,964
Multi-family residential \| Pass
Credit Quality Indicators
Loans	9,540	9,964
Nonfarm nonresidential
Credit Quality Indicators
Loans	190,967	195,839
Nonfarm nonresidential \| Pass
Credit Quality Indicators
Loans	190,570	195,464
Nonfarm nonresidential \| Special Mention
Credit Quality Indicators
Loans	397
Nonfarm nonresidential \| Substandard
Credit Quality Indicators
Loans		375
Commercial
Credit Quality Indicators
Loans	204,061	207,101
Commercial \| Pass
Credit Quality Indicators
Loans	202,238	205,681
Commercial \| Special Mention
Credit Quality Indicators
Loans	1,143	672
Commercial \| Substandard
Credit Quality Indicators
Loans	680	748
Consumer
Credit Quality Indicators
Loans	3,349	4,124
Consumer \| Pass
Credit Quality Indicators
Loans	3,320	3,925
Consumer \| Substandard
Credit Quality Indicators
Loans	$ 29	$ 199

Loans and Allowance for Loan Losses - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Analysis of allowance for loan losses
Balance at beginning of year	$ 5,981	$ 5,018	$ 5,018
Provision charged to earnings	110	252	1,423
Charge-offs	(102)	(60)	(510)
Recoveries	17	5	50
Net charge-offs	(85)	(55)	(460)
Balance at end of year	6,006	5,215	5,981
Specific Reserves:
Impaired loans				$ 123	$ 87	$ 26
Total specific reserves				123	87	26
General reserves				5,883	5,894	5,189
Total	5,981	5,018	5,018	$ 6,006	$ 5,981	$ 5,215
Allowance for loan losses				0.98%	0.99%	1.04%
Construction land and Farmland
Analysis of allowance for loan losses
Balance at beginning of year	769	660	660
Provision charged to earnings	137	(6)	137
Charge-offs	(48)		(28)
Net charge-offs	(48)		(28)
Balance at end of year	858	654	769
Specific Reserves:
Impaired loans					$ 44
Total specific reserves					44
General reserves				$ 858	725	$ 654
Total	769	660	660	858	769	654
Residential
Analysis of allowance for loan losses
Balance at beginning of year	1,166	970	970
Provision charged to earnings	74	150	226
Charge-offs			(30)
Net charge-offs			(30)
Balance at end of year	1,240	1,120	1,166
Specific Reserves:
Impaired loans						26
Total specific reserves						26
General reserves				1,240	1,166	1,094
Total	1,166	970	970	1,240	1,166	1,120
Nonfarm nonresidential
Analysis of allowance for loan losses
Balance at beginning of year	1,890	1,726	1,726
Provision charged to earnings	(54)	(372)	162
Recoveries	5		2
Net charge-offs	5		2
Balance at end of year	1,841	1,354	1,890
Specific Reserves:
General reserves				1,841	1,890	1,354
Total	1,890	1,726	1,726	1,841	1,890	1,354
Commercial
Analysis of allowance for loan losses
Balance at beginning of year	2,092	1,585	1,585
Provision charged to earnings	(40)	493	909
Charge-offs	(50)	(60)	(448)
Recoveries	12	3	46
Net charge-offs	(38)	(57)	(402)
Balance at end of year	2,014	2,021	2,092
Specific Reserves:
Impaired loans				113	30
Total specific reserves				113	30
General reserves				1,901	2,062	2,021
Total	2,092	1,585	1,585	2,014	2,092	2,021
Consumer
Analysis of allowance for loan losses
Balance at beginning of year	64	77	77
Provision charged to earnings	(7)	(13)	(11)
Charge-offs	(4)		(4)
Recoveries		2	2
Net charge-offs	(4)	2	(2)
Balance at end of year	53	66	64
Specific Reserves:
Impaired loans				10	13
Total specific reserves				10	13
General reserves				43	51	66
Total	$ 64	$ 77	$ 77	$ 53	$ 64	$ 66

Loans and Allowance for Loan Losses - Allowance, Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Allowance, impairment methodology
Loans individually evaluated for impairment	$ 1,783	$ 2,056
Loans collectively evaluated for impairment	613,712	601,254
Total Loans	615,495	603,310
Construction land and Farmland
Allowance, impairment methodology
Loans individually evaluated for impairment		541
Loans collectively evaluated for impairment	94,186	79,953
Total Loans	94,186	80,494
Residential
Allowance, impairment methodology
Loans individually evaluated for impairment	168	168
Loans collectively evaluated for impairment	122,764	115,584
Total Loans	122,932	115,752
Nonfarm nonresidential
Allowance, impairment methodology
Loans individually evaluated for impairment	1,104	1,086
Loans collectively evaluated for impairment	189,863	194,753
Total Loans	190,967	195,839
Commercial
Allowance, impairment methodology
Loans individually evaluated for impairment	482	223
Loans collectively evaluated for impairment	203,579	206,878
Total Loans	204,061	207,101
Consumer
Allowance, impairment methodology
Loans individually evaluated for impairment	29	38
Loans collectively evaluated for impairment	3,320	4,086
Total Loans	$ 3,349	$ 4,124

Loans and Allowance for Loan Losses - Purchased Credit Impaired Loans (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2015 USD ($) loan	Mar. 31, 2014 loan	Dec. 31, 2014 USD ($) loan
Purchased Credit Impaired Loans
Carrying amount \| $	$ 0		$ 541
Number of purchased credit impaired loans acquired	0	0
Loan acquired using cost recovery method
Number of purchased credit impaired loans accounted for using cost recovery method			1

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Components of Deferred Tax Assets and Liabilities [Abstract]
Estimated Annual Effective Tax Rate	32.6	34.8
Effective tax rate (as a percent)	25.00%	34.80%
Discrete tax credit related to non-qualified stock options	$ 186	$ 0
Taxes payable, current	787
Other assets.
Components of Deferred Tax Assets and Liabilities [Abstract]
Net deferred tax asset	1,566		$ 1,385
Current tax liability	$ 89

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating Leases
Rental expense on operating lease	$ 363	$ 351

Other Non-interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Other Non-interest Expense
Business development	$ 101	$ 61
Office and postage	140	57
Director fees	35	20
Insurance	30	24
Security	21	34
Charitable contributions and donations	78	65
Travel	7	5
Training	10	10
Other	235	197
Total	$ 657	$ 473

Fair Value Disclosures - Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Assets measured at fair value
Investment securities available for sale	$ 53,391	$ 45,127
Recurring
Assets measured at fair value
Investment securities available for sale	53,391	45,127
Liabilities measured at fair value	0	0
Transfer of assets from Level 2 to Level 3	0	0
Transfer of assets from Level 3 to Level 2	0	0
Recurring \| Level 2
Assets measured at fair value
Investment securities available for sale	$ 53,391	$ 45,127

Fair Value Disclosures - Non-recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Assets measured at fair value
Impaired loans, carrying value	$ 1,783	$ 2,056
Impaired loans, specific allowance	123	87
Non-recurring
Assets measured at fair value
Impaired loans	1,783	2,056
Other real estate owned	493	50
Liabilities measured at fair value	0	0
Non-recurring \| Level 3
Assets measured at fair value
Impaired loans	1,783	2,056
Other real estate owned	$ 493	$ 50

Fair Value Disclosures - Level 3 (Details) - Collateral Method - Level 3 - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Impaired loans
Significant unobservable inputs used in the fair value measurements
Fair Value	$ 1,783	$ 2,056
Weighted Average (as a percent)	8.00%	8.00%
Other real estate owned, net
Significant unobservable inputs used in the fair value measurements
Fair Value	$ 493	$ 50
Weighted Average (as a percent)	8.00%	8.00%

Fair Value Disclosures - Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Estimated fair values and carrying values of all financial instruments
Maximum maturity period for Federal Home Loan Bank advances recorded at carrying value	90 days
Financial assets:
Securities available for sale	$ 53,391	$ 45,127
Financial liabilities:
Junior subordinated debentures	3,093	3,093
Subordinated notes	4,981	4,981
Level 2 \| Carrying Amount
Financial assets:
Cash and cash equivalents	85,544	93,251
Securities available for sale	53,391	45,127
Loans held for sale	2,508	8,858
Accrued interest receivable	1,539	1,542
Bank-owned life insurance	17,969	17,822
Non-marketable equity securities	3,136	4,139
Financial liabilities:
Deposits	668,255	638,743
Advances from FHLB	15,000	40,000
Accrued interest payable	110	126
Junior subordinated debentures	3,093	3,093
Subordinated notes	4,981	4,981
Level 2 \| Total Fair Value
Financial assets:
Cash and cash equivalents	85,544	93,251
Securities available for sale	53,391	45,127
Loans held for sale	2,508	8,858
Accrued interest receivable	1,539	1,542
Bank-owned life insurance	17,969	17,822
Non-marketable equity securities	3,136	4,139
Financial liabilities:
Deposits	659,415	630,402
Advances from FHLB	15,029	40,028
Accrued interest payable	110	126
Junior subordinated debentures	3,093	3,093
Subordinated notes	4,981	4,981
Level 3 \| Carrying Amount
Financial assets:
Loans, net	609,439	597,278
Level 3 \| Total Fair Value
Financial assets:
Loans, net	$ 606,819	$ 596,138

Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Financial instruments with off-balance sheet risk
Total commitments	$ 174,472	$ 145,042
Commitments to extend credit
Financial instruments with off-balance sheet risk
Total commitments	173,434	144,224
Standby letters of credit
Financial instruments with off-balance sheet risk
Total commitments	$ 1,038	$ 818

Employee Benefits (Details) - USD ($)	3 Months Ended
Employee Benefits (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
ESOP
Matching contributions to 401(k) profit sharing Plan	$ 0	$ 0
Summary of ESOP shares
Allocated shares	16,958		16,958
Unearned shares	36,935		36,935
Total ESOP shares	53,893		53,893
Fair value of unearned shares	$ 516		$ 523
ESOP
ESOP
Amount borrowed	$ 500,000
Shares purchased	46,082
Compensation expense	$ 45,000	$ 45,000

Stock and Incentive Plan - 2010 Plan (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2010
2010 Stock Option and Equity Incentive Plan
Stock and Incentive Plans
Number of shares authorized				1,000,000
Stock based compensation expense	$ 21		$ 121
Restricted shares \| 2010 Stock Option and Equity Incentive Plan
Stock and Incentive Plans
Number of shares authorized				100,000
Term of continuous service for vesting awards	4 years
Stock option \| 2010 Stock Option and Equity Incentive Plan
Stock and Incentive Plans
Number of shares authorized				900,000
Term of continuous service for vesting awards	5 years
Contractual terms for non-controlling participants	10 years
Performance-based stock options \| 2010 Stock Option and Equity Incentive Plan
Stock and Incentive Plans
Number of shares authorized				500,000
Number of shares awarded under stock options		40,000	40,000
Nonperformance-based stock options
Stock and Incentive Plans
Number of shares awarded under stock options	44,080
Nonperformance-based stock options \| 2010 Stock Option and Equity Incentive Plan
Stock and Incentive Plans
Number of shares awarded under stock options		20,000	20,000

Stock and Incentive Plan - 2010 Plan - Black Scholes Assumptions (Details) - 2010 Stock Option and Equity Incentive Plan	3 Months Ended
	Mar. 31, 2014
Assumptions used to measure fair value of each option award estimated on grant date using Black-Scholes option-pricing model
Dividend yield (as a percent)	0.00%
Expected volatility (as a percent)	5.60%
Risk-free interest rate (as a percent)	2.71%

Stock and Incentive Plan - 2010 Plan - Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
2010 Stock Option and Equity Incentive Plan
Additional disclosures
Stock based compensation expense	$ 21		$ 121
Performance-based stock options \| 2010 Stock Option and Equity Incentive Plan
Shares Underlying Options activity
Outstanding at beginning of period (in shares)		422,500	422,500
Granted during the period (in shares)		40,000	40,000
Outstanding at the end of period (in shares)		462,500		422,500
Activity in weighted exercise price
Outstanding at beginning of period (in dollars per share)		$ 10.02	$ 10.02
Granted during the period (in dollars per share)		10.85
Outstanding at the end of period (in dollars per share)		10.09		$ 10.02
Weighted average fair value of options granted during the period (in dollars per share)		$ 2.74
Weighted Average Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2		8 years		8 years
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2		8 years		8 years
Additional disclosures
Aggregate intrinsic value of outstanding stock options (in dollars)	0	$ 1,300
Aggregate intrinsic value of exercisable stock options (in dollars)	0	$ 0
Unrecognized compensation expense (in dollars)	$ 0
Nonperformance-based stock options
Shares Underlying Options activity
Granted during the period (in shares)	44,080
Outstanding at the end of period (in shares)	44,080
Activity in weighted exercise price
Granted during the period (in dollars per share)	$ 14.17
Outstanding at the end of period (in dollars per share)	14.17
Weighted average fair value of options granted during the period (in dollars per share)	$ 5.46
Weighted Average Contractual Term
Options exercisable at end of period	9 years 9 months 4 days
Additional disclosures
Aggregate intrinsic value of outstanding stock options (in dollars)	$ 0
Nonperformance-based stock options \| 2010 Stock Option and Equity Incentive Plan
Shares Underlying Options activity
Outstanding at beginning of period (in shares)	352,500	327,500	327,500
Granted during the period (in shares)		20,000	20,000
Outstanding at the end of period (in shares)	352,500	347,500	352,500	327,500
Options exercisable at end of period (in shares)	245,000	179,800
Activity in weighted exercise price
Outstanding at beginning of period (in dollars per share)	$ 10.14	$ 10.03	$ 10.03
Granted during the period (in dollars per share)		10.85
Outstanding at the end of period (in dollars per share)	10.14	10.07	$ 10.14	$ 10.03
Options exercisable at end of period (in dollars per share)	$ 10.05	10.39
Weighted average fair value of options granted during the period (in dollars per share)		$ 2.62
Weighted Average Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	6 years 3 months 29 days	7 years 6 months 26 days	6 years 6 months 29 days	7 years 8 months 9 days
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	6 years 3 months 29 days	7 years 6 months 26 days	6 years 6 months 29 days	7 years 8 months 9 days
Options exercisable at end of period	6 years 1 month 6 days	6 years 4 months 10 days
Additional disclosures
Aggregate intrinsic value of outstanding stock options (in dollars)	$ 1,350	$ 983
Aggregate intrinsic value of exercisable stock options (in dollars)	$ 960	451
Requisite service period to recognize compensation cost	1 year 9 months 4 days
Unrecognized compensation expense (in dollars)	$ 186	$ 381

Stock and Incentive Plan - 2010 Plan - Restricted Stock Units (Details) - Restricted shares - 2010 Stock Option and Equity Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Activity in shares
Nonvested at the beginning of the period (in shares)	62,250	35,000
Granted (in shares)		13,500
Vested (in shares)	(20,000)
Forfeited (in shares)		(250)
Nonvested at the end of the period (in shares)	42,250	48,250
Activity in weighted average grant date fair value
Nonvested at the beginning of the period (in dollars per share)	$ 10.86	$ 10.00
Granted (in dollars per share)		10.85
Vested (in dollars per share)	10.00
Forfeited (in dollars per share)		(10.85)
Nonvested at the end of the period (in dollars per share)	$ 11.30	$ 10.25
Additional disclosures
Unrecognized compensation expense (in dollars)	$ 258		$ 247
Requisite service period to recognize compensation cost	2 years 3 months 26 days

Stock and Incentive Plan - Omnibus Plan (Details) - Omnibus Plan - shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Stock and Incentive Plans
Number of shares authorized	1,000,000
Restricted stock units
Stock and Incentive Plans
Units granted to employees and directors	25,474	0
Stock option
Stock and Incentive Plans
Units granted to employees and directors	44,080	0
Options vesting period	3 years

Stock and Incentive Plan - Omnibus Plan Black Scholes Assumptions- (Details) - Omnibus Plan	3 Months Ended
	Mar. 31, 2015
Assumptions used to measure fair value of each option award estimated on grant date using Black-Scholes option-pricing model
Dividend yield (as a percent)	0.00%
Expected life	6 years
Expected volatility (as a percent)	37.00%
Risk-free interest rate (as a percent)	1.81%

Stock and Incentive Plan - Omnibus Plan - Options (Details) - Nonperformance-based stock options $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2015 USD ($) $ / shares shares
Shares Underlying Options activity
Granted during the period (in shares) \| shares	44,080
Outstanding at the end of period (in shares) \| shares	44,080
Activity in weighted exercise price
Granted during the period (in dollars per share)	$ 14.17
Outstanding at the end of period (in dollars per share)	14.17
Weighted average fair value of options granted during the period (in dollars per share)	$ 5.46
Weighted Average Contractual Term
Options exercisable at end of period	9 years 9 months 4 days
Additional disclosures
Aggregate intrinsic value of outstanding stock options (in dollars) \| $	$ 0

Stock and Incentive Plan - Omnibus Plan - Restricted Stock Units (Details) - Omnibus Plan $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2015 USD ($) $ / shares shares
Restricted stock units
Activity in shares
Nonvested at the beginning of the period (in shares) \| shares	82,903
Granted (in shares) \| shares	25,474
Nonvested at the end of the period (in shares) \| shares	108,377
Activity in weighted average grant date fair value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 13.00
Granted (in dollars per share) \| $ / shares	14.17
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 13.28
Additional disclosures
Stock based compensation expense	$ 69
Unrecognized compensation expense (in dollars)	$ 1,072
Requisite service period to recognize compensation cost	4 years 2 months 16 days
Stock option
Additional disclosures
Stock based compensation expense	$ 18
Unrecognized compensation expense (in dollars)	$ 201
Requisite service period to recognize compensation cost	2 years 9 months 4 days

Preferred Stock (Details) $ / shares in Units, $ in Thousands			3 Months Ended
	Mar. 31, 2015 $ / shares	Aug. 25, 2011 USD ($) item shares	Mar. 31, 2014 USD ($)	Dec. 31, 2014 $ / shares
Preferred Stock
Shares issued pursuant to SBLF program, value \| $			$ 5,438
Liquidation amount (in dollars per share) \| $ / shares	$ 1,000			$ 1,000
SBLF Preferred Stock
Preferred Stock
Number of quarters during which dividend rate fluctuates \| item		10
Number of dividend payment defaults triggering appointment of a representative as an observer on the Company's Board of Directors \| item		5
Redemption price as a percentage of liquidation amount plus accrued but unpaid dividends	100.00%
Liquidation amount (in dollars per share) \| $ / shares	$ 1,000
SBLF Purchase Agreement \| SBLF Preferred Stock \| Initial dividend period
Preferred Stock
Dividend rate (as a percent)		1.00%
SBLF Purchase Agreement \| SBLF Preferred Stock \| Dividend period for tenth calendar quarter through four and one half years after issuance
Preferred Stock
Dividend rate (as a percent)	1.00%
Dividend period used in setting dividend rate		4 years 6 months
SBLF Purchase Agreement \| SBLF Preferred Stock \| Dividend period after four and one half years from issuance
Preferred Stock
Dividend rate (as a percent)		9.00%
Dividend period used in setting dividend rate		4 years 6 months
Quarterly lending incentive fee (as a percent)		0.50%
SBLF Purchase Agreement \| SBLF Preferred Stock \| Secretary of the Treasury
Preferred Stock
Shares issued pursuant to SBLF program \| shares		8,000
Shares issued pursuant to SBLF program, value \| $		$ 8,000

Capital Requirements and Restrictions on Retained Earnings (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Total capital (to risk weighted assets)
Actual Amount	$ 109,414	$ 107,197
Actual Ratio (as a percent)	17.16%	17.22%
For Capital Adequacy Purposes Amount	$ 51,015	$ 49,814
For Capital Adequacy Purposes Ratio (as a percent)	8.00%	8.00%
Tier 1 capital (to risk weighted assets)
Actual Amount	$ 98,427	$ 96,236
Actual Ratio (as a percent)	15.43%	15.46%
For Capital Adequacy Purposes Amount	$ 25,508	$ 24,907
For Capital Adequacy Purposes Ratio (as a percent)	4.00%	4.00%
Tier 1 capital (to average assets)
Actual Amount	$ 98,427	$ 96,236
Actual Ratio (as a percent)	12.78%	12.66%
For Capital Adequacy Purposes Amount	$ 30,800	$ 30,400
For Capital Adequacy Purposes Ratio (as a percent)	4.00%	4.00%
Bank
Total capital (to risk weighted assets)
Actual Amount	$ 82,235	$ 79,616
Actual Ratio (as a percent)	12.91%	12.79%
For Capital Adequacy Purposes Amount	$ 50,977	$ 49,788
For Capital Adequacy Purposes Ratio (as a percent)	8.00%	8.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 63,722	$ 62,235
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	10.00%	10.00%
Tier 1 capital (to risk weighted assets)
Actual Amount	$ 76,229	$ 73,635
Actual Ratio (as a percent)	11.96%	11.83%
For Capital Adequacy Purposes Amount	$ 25,489	$ 24,894
For Capital Adequacy Purposes Ratio (as a percent)	4.00%	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 38,233	$ 37,341
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	6.00%	6.00%
Tier 1 capital (to average assets)
Actual Amount	$ 76,229	$ 73,635
Actual Ratio (as a percent)	9.90%	9.69%
For Capital Adequacy Purposes Amount	$ 30,790	$ 30,386
For Capital Adequacy Purposes Ratio (as a percent)	4.00%	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 38,487	$ 37,983
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)	5.00%	5.00%