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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2016	Apr. 28, 2016
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, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		10,724,078
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 12,416	$ 10,989
Interest bearing deposits in other banks	79,967	60,562
Total cash and cash equivalents	92,383	71,551
Investment securities	79,146	75,813
Loans held for sale	3,597	2,831
Loans, net of allowance for loan losses of $7,372 and $6,772, respectively	877,978	813,733
Accrued interest receivable	2,252	2,216
Bank-owned life insurance	19,614	19,459
Bank premises, furniture and equipment, net	17,248	17,449
Non-marketable equity securities	5,541	4,167
Investment in unconsolidated subsidiary	93	93
Other real estate owned	493	493
Intangible assets, net of accumulated amortization of $1,724 and $1,605, respectively	2,347	2,410
Goodwill	26,865	26,865
Other assets	2,923	2,520
Total assets	1,130,480	1,039,600
Deposits:
Noninterest-bearing	296,481	301,367
Interest-bearing	649,577	567,043
Total deposits	946,058	868,410
Accounts payable and accrued expenses	2,122	1,776
Accrued interest payable and other liabilities	573	848
Advances from Federal Home Loan Bank	38,410	28,444
Junior subordinated debentures	3,093	3,093
Subordinated notes	4,983	4,983
Total liabilities	995,239	907,554
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock, $0.01 par value; 10,000,000 shares authorized at March 31, 2016 and December 31, 2015
Common stock, $0.01 par value; 75,000,000 shares authorized at March 31, 2016 and December 31, 2015; 10,724,078 and 10,712,472 shares issued and outstanding at March 31, 2016 and December 31, 2015, (excluding 10,000 shares held in treasury)	107	107
Additional paid-in capital	115,876	115,721
Retained earnings	19,552	16,739
Unallocated Employee Stock Ownership Plan shares; 27,993 and 27,993 shares at March 31, 2016 and December 31, 2015, respectively	(309)	(309)
Accumulated other comprehensive income (loss)	85	(142)
Treasury stock, 10,000 shares at cost	(70)	(70)
Total stockholders' equity	135,241	132,046
Total liabilities and stockholders' equity	$ 1,130,480	$ 1,039,600

Condensed Consolidated Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Consolidated Balance Sheets
Allowance for loan losses	$ 7,372	$ 6,772
Accumulated amortization	$ 1,724	$ 1,605
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
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	10,724,078	10,712,472
Common stock, shares outstanding	10,724,078	10,712,472
Unallocated Employee Stock Ownership Plan shares, shares	27,993	27,993
Treasury stock, shares	10,000	10,000

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income:
Interest and fees on loans	$ 10,355	$ 7,348
Interest on investment securities	335	212
Interest on deposits in other banks	92	54
Interest on other	1
Total interest income	10,783	7,614
Interest expense:
Interest on deposit accounts	935	631
Interest on borrowings	158	126
Total interest expense	1,093	757
Net interest income	9,690	6,857
Provision for loan losses	845	110
Net interest income after provision for loan losses	8,845	6,747
Noninterest income:
Service charges and fees on deposit accounts	434	245
Gain on sales of investment securities	15	7
Gain on sales of loans	662	302
Gain (loss) on sales of other assets owned		(2)
Bank-owned life insurance	193	178
Other	69	36
Total noninterest income	1,373	766
Noninterest expense:
Salaries and employee benefits	3,174	2,657
Occupancy and equipment	901	857
Professional fees	573	540
Data processing and software expense	284	263
FDIC assessment fees	137	100
Marketing	200	205
Other assets owned expenses and writedowns	75	13
Amortization of intangibles	95	73
Telephone and communications	97	57
Other	439	317
Total noninterest expense	5,975	5,082
Net income from operations	4,243	2,431
Income tax expense	1,430	607
Net income	2,813	1,824
Preferred stock dividends		20
Net income available to common stockholders	$ 2,813	$ 1,804
Basic earnings per share (in dollars per share)	$ 0.26	$ 0.19
Diluted earnings per share (in dollars per share)	$ 0.26	$ 0.19

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Comprehensive Income
Net income	$ 2,813	$ 1,824
Other comprehensive income (loss):
Unrealized (losses) gains on securities available for sale arising during the period, net	359	16
Reclassification adjustment for net gains included in net income	15	7
Other comprehensive income before tax	344	9
Income tax (benefit) expense	117	3
Other comprehensive income, net of tax	227	6
Comprehensive income	$ 3,040	$ 1,830

- Definition

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

+ References + Details

Condensed 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	Total
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
Increase (Decrease) in Stockholders' Equity
Restricted stock units vested, net 4,171 and 6,191 shares withheld to cover tax withholdings for March 31, 2016 and 2015, respectively			(96)					(96)
Restricted stock units vested, net 4,171 and 6,191 shares withheld to cover tax withholdings for March 31, 2016 and 2015, respectively, shares		13,809
Preferred stock dividend Series C				(20)				(20)
Stock based compensation			107					107
Net income				1,824				1,824
Other comprehensive income					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
Balance at Dec. 31, 2015		$ 107	115,721	16,739	(142)	(309)	(70)	$ 132,046
Balance (in shares) at Dec. 31, 2015		10,712,472						10,712,472
Increase (Decrease) in Stockholders' Equity
Restricted stock units vested, net 4,171 and 6,191 shares withheld to cover tax withholdings for March 31, 2016 and 2015, respectively			(68)					$ (68)
Restricted stock units vested, net 4,171 and 6,191 shares withheld to cover tax withholdings for March 31, 2016 and 2015, respectively, shares		11,606
Stock based compensation			223					223
Net income				2,813				2,813
Other comprehensive income					227			227
Balance at Mar. 31, 2016		$ 107	$ 115,876	$ 19,552	$ 85	$ (309)	$ (70)	$ 135,241
Balance (in shares) at Mar. 31, 2016		10,724,078						10,724,078

- Definition

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

+ References + Details

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restricted stock units
Shares withheld to cover tax withholdings	4,171	6,191
Common stock
Shares withheld to cover tax withholdings	11,606	13,809

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 2,813	$ 1,824
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of core deposit intangibles	373	325
Provision for loan losses	845	110
Accretion of loan purchase discount	(84)	(48)
Stock based compensation expense	223	107
Amortization of other intangible assets	21	1
Net amortization of premiums on investment securities	189	89
Change in cash surrender value of bank-owned life insurance	(155)	(147)
Net gain on sales of investment securities	(15)	(7)
Gain on sales of loans held for sale	(662)	(302)
Net gain on sales of other real estate owned		2
Net originations of loans held for sale	(10,562)	(10,022)
Write down on foreclosed assets	64
Proceeds from sales of loans held for sale	10,010	16,674
Increase in accrued interest receivable and other assets	(514)	(460)
(Decrease) increase in accounts payable, accrued expenses, accrued interest payable and other liabilities	(45)	284
Net cash provided by operating activities	2,501	8,430
Cash flows from investing activities:
Purchases of securities available for sale	(18,228)	(14,922)
Sales of securities available for sale	8,378	3,778
Proceeds from maturities, calls and pay downs of investment securities	6,686	2,807
(Purchases) sales of non-marketable equity securities, net	(1,374)	1,003
Net loans originated	(64,672)	(12,716)
Net additions to bank premises and equipment	(73)	(627)
Proceeds from sales of other real estate owned		48
Net cash used in investing activities	(69,283)	(20,629)
Cash flows from financing activities:
Net change in deposits	77,648	29,512
Net increase (decrease) in advances from Federal Home Loan Bank	9,966	(25,000)
Dividends paid on preferred stock		(20)
Net cash provided by financing activities	87,614	4,492
Net increase (decrease) in cash and cash equivalents	20,832	(7,707)
Cash and cash equivalents at beginning of year	71,551	93,251
Cash and cash equivalents at end of period	$ 92,383	$ 85,544

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2016

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

VERITEX HOLDINGS, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements

(Dollars in thousands, except for per share amounts)

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, formerly known as Veritex Community Bank, National Association (the “Bank”), is a Texas state banking organization, with corporate offices in Dallas, Texas, and currently operates ten 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 Board of Governors of the Federal Reserve System are the primary regulators of the Company, which performs periodic examinations to ensure regulatory compliance.

Basis of Presentation

The accompanying consolidated financial statements include the accounts of Veritex and the Bank as its wholly‑owned subsidiary.

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, 2016 and December 31, 2015, consolidated results of operations for the three months ended March 31, 2016 and 2015, consolidated stockholders’ equity for the three months ended March 31, 2016 and 2015 and consolidated cash flows for the three months ended March 31, 2016 and 2015.

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, 2015 included within the Company’s Form 10-K as filed with the Securities and Exchange Commission on March 15, 2016.

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.

Segment Reporting

The Company has one reportable segment. All of the Company’s activities are interrelated, and each activity is dependent on the other and assessed based on how each of the activities of the Company supports the others. For example, lending is dependent upon the ability of the Company to fund itself with deposits and borrowings while managing interest rate and credit risk. Accordingly, all significant operating decisions are based upon analysis of the Company as one segment or unit. The Company’s chief operating decision-maker, the CEO, uses the consolidated results to make operating and strategic decisions.

Reclassifications

Certain prior period amounts have been reclassified to conform to the 2016 financial statement presentation. These reclassifications only changed the reporting categories and did not affect the consolidated results of operations or consolidated financial position.

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, 2016 and 2015:


	Three Months Ended March 31,
	2016		2015
Earnings (numerator)
Net income	$	2,813	$	1,824
Less: preferred stock dividends		—		20
Net income allocated to common stockholders	$	2,813	$	1,804
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)		10,694		9,448
Dilutive effect of employee stock-based awards		270		296
Adjusted weighted average shares outstanding		10,964		9,744
Earnings per share:
Basic	$	0.26	$	0.19
Diluted	$	0.26	$	0.19

For the three months ended March 31, 2016 and 2015, the Company excluded from diluted EPS weighted average shares of stock options representing the right to purchase 111,882 and 44,080 shares of the Company’s common stock, respectively, as the inclusion of those shares would have been anti-dilutive.

Recent Accounting Pronouncements

ASU 2016-09 " Compensation —Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." (“ASU 2016-09”) simplifies several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public business entities, this ASU is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods therein. The Company is in process of evaluating the impact of this pronouncement, which is not expected to have a significant impact on the consolidated financial statements.

Supplemental Statement of Cash Flows

3 Months Ended

Mar. 31, 2016

Supplemental Cash Flow Elements [Abstract]

Supplemental Statement of Cash Flows

2. Statement of Cash Flows

Other supplemental cash flow information is presented below:


	Three Months Ended March 31,
	2016		2015
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	1,106	$	775
Cash paid for income taxes		2,025		100
Supplemental Disclosures of Non-Cash Flow Information:
Net issuance of common stock for vesting of restricted stock units to cover withholding		68		96
Net foreclosure of other real estate owned	$	114	$	493

Investment Securities

3 Months Ended

Mar. 31, 2016

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, 2016
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Available for Sale
U.S. government agencies	$	782	$	—	$	22	$	760
Municipal securities		7,048		26		25		7,049
Mortgage-backed securities		45,496		140		146		45,490
Collateralized mortgage obligations		24,821		200		24		24,997
Asset-backed securities		871		—		21		850
	$	79,018	$	366	$	238	$	79,146


	December 31, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Available for Sale
U.S. government agencies	$	3,823	$	—	$	36	$	3,787
Municipal securities		6,738		9		52		6,695
Mortgage-backed securities		46,180		169		292		46,057
Collateralized mortgage obligations		18,379		64		59		18,384
Asset-backed securities		907		—		17		890
	$	76,027	$	242	$	456	$	75,813

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, 2016
	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	$	—	$	—	$	760	$	22	$	760	$	22
Municipal securities		3,444		25		—		—		3,444		25
Mortgage-backed securities		18,828		100		3,514		46		22,342		146
Collateralized mortgage obligations		3,632		32		1,134		13		4,766		45
	$	25,904	$	157	$	5,408	$	81	$	31,312	$	238


	December 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	$	2,978	$	7	$	809	$	29	$	3,787	$	36
Municipal securities		4,216		52		—		—		4,216		52
Mortgage-backed securities		32,255		253		2,792		39		35,047		292
Collateralized mortgage obligations		8,672		76		—		—		8,672		76
	$	48,121	$	388	$	3,601	$	68	$	51,722	$	456

The number of investment positions in an unrealized loss position totaled 24 and 52 at March 31, 2016 and December 31, 2015, respectively. 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, 2016. 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, as of the dates indicated, are shown in the table 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, 2016
	Available For Sale
	Amortized		Fair
	Cost		Value
Due in one year or less	$	—	$	—
Due from one year to five years		2,617		2,628
Due from five years to ten years		396		389
Due after ten years		4,817		4,792
		7,830		7,809
Mortgage-backed securities		45,496		45,490
Collateralized mortgage obligations		24,821		24,997
Asset-backed securities		871		850
	$	79,018	$	79,146


	December 31, 2015
	Available For Sale
	Amortized		Fair
	Cost		Value
Due in one year or less	$	996	$	999
Due from one year to five years		4,869		4,851
Due from five years to ten years		428		417
Due after ten years		4,268		4,215
		10,561		10,482
Mortgage-backed securities		46,180		46,057
Collateralized mortgage obligations		18,379		18,384
Asset-backed securities		907		890
	$	76,027	$	75,813

Proceeds from sales of investment securities available for sale and gross gains and losses for the three months ended March 31, 2016 and 2015 were as follows:


	Three Months Ended March 31,		Three Months Ended March 31,
	2016		2015
Proceeds from sales	$	8,378	$	3,778
Gross realized gains		43		7
Gross realized losses		39		-

Also included in gain on sale of investment securities in the accompanying condensed consolidated statements of income are gross gains of $11 and losses of $0 from calls of investment securities for the three months ended March 31, 2016. There were no gross gains or losses from calls of investment securities for the three months ended March 31, 2015.

There was a blanket floating lien on all securities to secure Federal Home Loan Bank advances as of March 31, 2016 and December 31, 2015.

- 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, 2016

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,
	2016		2015
Real estate:
Construction and land	$	143,405	$	126,422
Farmland		11,288		11,696
1 - 4 family residential		136,734		137,704
Multi-family residential		16,594		8,695
Nonfarm nonresidential		307,949		284,622
Commercial		264,492		246,124
Consumer		4,953		5,304
		885,415		820,567
Deferred loan fees		(65)		(62)
Allowance for loan losses		(7,372)		(6,772)
	$	877,978	$	813,733

Included in the net loan portfolio as of March 31, 2016 and December 31, 2015 is an accretable discount related to loans acquired within a business combination in the approximate amounts of $857 and $1,029, 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, 2016 and December 31, 2015.

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 the accrual of interest 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,
	2016		2015
Real estate:
Construction and land	$	—	$	—
Farmland		—		—
1 - 4 family residential		184		187
Multi-family residential		—		—
Nonfarm nonresidential		—		—
Commercial		322		383
Consumer		19		21
	$	525	$	591

During the three months ended March 31, 2016 and 2015, interest income not recognized on non‑accrual loans was minimal.

An aging analysis of past due loans, aggregated by class of loans, as of March 31, 2016 and December 31, 2015 is as follows:


	March 31, 2016
													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	$	45	$	—	$	—	$	45	$	143,360	$	143,405	$	—
Farmland		—		—		—		—		11,288		11,288		—
1 - 4 family residential		709		228		228		1,165		135,569		136,734		60
Multi-family residential		—		—		—		—		16,594		16,594		—
Nonfarm nonresidential		—		—		—		—		307,949		307,949		—
Commercial		1,142		37		224		1,403		263,089		264,492		81
Consumer		4		—		—		4		4,949		4,953		—
	$	1,900	$	265	$	452	$	2,617	$	882,798	$	885,415	$	141


	December 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	$	3	$	—	$	—	$	3	$	126,419	$	126,422	$	—
Farmland		—		—		—		—		11,696		11,696		—
1 - 4 family residential		215		438		187		840		136,864		137,704		—
Multi-family residential		—		—		—		—		8,695		8,695		—
Nonfarm nonresidential		—		175		—		175		284,447		284,622		—
Commercial		883		81		159		1,123		245,001		246,124		83
Consumer		8		2		1		11		5,293		5,304		1
	$	1,109	$	696	$	347	$	2,152	$	818,415	$	820,567	$	84

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 TDRs, at March 31, 2016 and December 31, 2015 are summarized in the following tables.


	March 31, 2016
	Unpaid		Recorded		Recorded						Average
	Contractual		Investment		Investment		Total				Recorded
	Principal		with No		With		Recorded		Related		Investment
	Balance		Allowance		Allowance		Investment		Allowance		YTD
Real estate:
Construction and land	$	—	$	—	$	—	$	—	$	—	$	—
Farmland		—		—		—		—		—		—
1 - 4 family residential		350		350		—		350		—		352
Multi-family residential		—		—		—		—		—		—
Nonfarm nonresidential		388		388		—		388		—		604
Commercial		294		126		168		294		41		202
Consumer		19		2		17		19		6		21
Total	$	1,051	$	866	$	185	$	1,051	$	47	$	1,179


	December 31, 2015
	Unpaid		Recorded		Recorded						Average
	Contractual		Investment		Investment		Total				Recorded
	Principal		with No		With		Recorded		Related		Investment
	Balance		Allowance		Allowance		Investment		Allowance		YTD
Real estate:
Construction and land	$	—	$	—	$	—	$	—	$	—	$	10
Farmland		—		—		—		—		—		—
1 - 4 family residential		353		353		—		353		—		191
Multi-family residential		—		—		—		—		—		—
Nonfarm nonresidential		1,265		1,265		—		1,265		—		1,146
Commercial		740		390		350		740		186		533
Consumer		21		3		18		21		7		27
Total	$	2,379	$	2,011	$	368	$	2,379	$	193	$	1,907

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, 2016 and 2015, 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 TDRs are based on individual facts and circumstances. Loan modifications that are included as TDRs 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 TDRs was $593 and $1,727 as of March 31, 2016 and December 31, 2015, respectively.

During the three months ended March 31, 2016, no loans were modified as TDRs. During the three months ended March 31, 2015 the terms of certain loans modified as TDRs were 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	1		399		—		—		—		397
Commercial	—		—		—		—		—		—
Consumer	—		—		—		—		—		—
Total	1	$	399	$	—	$	—	$	—	$	397

The one loan restructured during the three months ended March 31, 2015 was performing as agreed to the modified terms.

There was one loan modified as a TDR loan within the previous 12 months and for which there was a payment default during the three months ended March 31, 2016. The loan was secured by inventory that was repossessed subsequent to the default. The allowance for loan loss was charged $143 related to the repossession. There were no loans modified as a TDR loan within the previous 12 months and for which there was a payment default during the three months ended March 31, 2015. A default for purposes of this disclosure is a TDR 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, 2016 and 2015 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 classified as TDRs as of March 31, 2016 or December 31, 2015.

Credit Quality Indicators

From a credit risk standpoint, the Company classifies its loans in the following 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 impairments. 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 in 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.

The following tables summarize the Company’s internal ratings of its loans, including purchased credit impaired loans, as of March 31, 2016 and December 31, 2015:


	March 31, 2016
			Special
	Pass		Mention		Substandard		Doubtful		Total
Real estate:
Construction and land	$	143,405	$	—	$	—	$	—	$	143,405
Farmland		11,288		—		—		—		11,288
1 - 4 family residential		135,129		759		846		—		136,734
Multi-family residential		16,594		—		—		—		16,594
Nonfarm nonresidential		307,185		764		—		—		307,949
Commercial(1)		251,430		12,053		994		15		264,492
Consumer		4,934		—		19		—		4,953
Total	$	869,965	$	13,576	$	1,859	$	15	$	885,415


	December 31, 2015
			Special
	Pass		Mention		Substandard		Doubtful		Total
Real estate:
Construction and land	$	126,422	$	—	$	—	$	—	$	126,422
Farmland		11,696		—		—		—		11,696
1 - 4 family residential		136,856		—		848		—		137,704
Multi-family residential		8,695		—		—		—		8,695
Nonfarm nonresidential		282,404		2,043		175		—		284,622
Commercial		244,948		573		527		76		246,124
Consumer		5,282		1		21		—		5,304
Total	$	816,303	$	2,617	$	1,571	$	76	$	820,567

(1)

Subsequent to March 31, 2016, the Company further downgraded a $6.0 million loan classified as Special Mention to Substandard.

An analysis of the allowance for loan losses for the three months ended March 31, 2016, the year ended December 31, 2015, and the three months ended March 31, 2015 is as follows:



	Three Months Ended		Year Ended		Three Months Ended
	March 31, 2016		December 31, 2015		March 31, 2015
Balance at beginning of year	$	6,772	$	5,981	$	5,981
Provision charged to earnings		845		868		110
Charge-offs		(249)		(140)		(102)
Recoveries		4		63		17
Net charge-offs		(245)		(77)		(85)
Balance at end of year	$	7,372	$	6,772	$	6,006

The allowance for loan losses as a percentage of total loans was 0.83%, 0.98% and 0.83% as of March 31, 2016, March 31, 2015, and December 31, 2015, respectively.

The following tables summarize the activity in the allowance for loan losses by portfolio segment for the periods indicated:


	For the Three Months Ended March 31, 2016
	Real Estate
	Construction,				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of period	$	1,104	$	1,124	$	2,189	$	2,324	$	31	$	6,772
Provision charged to earnings		191		2		296		351		5		845
Charge-offs		—		—		—		(240)		(9)		(249)
Recoveries		—		—		—		4		—		4
Net charge-offs (recoveries)		—		—		—		(236)		(9)		(245)
Balance at end of period	$	1,295	$	1,126	$	2,485	$	2,439	$	27	$	7,372
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	—	$	—	$	—	$	42	$	6	$	48
Total specific reserves		—		—		—		42		6		48
General reserves		1,295		1,126		2,485		2,397		21		7,324
Total	$	1,295	$	1,126	$	2,485	$	2,439	$	27	$	7,372


	For the Three Months Ended March 31, 2015
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of period	$	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 period	$	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


	For the Year Ended December 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		383		(42)		294		262		(29)		868
Charge-offs		(48)		—		—		(87)		(5)		(140)
Recoveries		—		—		5		57		1		63
Net charge-offs (recoveries)		(48)		—		5		(30)		(4)		(77)
Balance at end of year	$	1,104	$	1,124	$	2,189	$	2,324	$	31	$	6,772
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	—	$	—	$	—	$	186	$	7	$	193
Total specific reserves		—		—		—		186		7		193
General reserves		1,104		1,124		2,189		2,138		24		6,579
Total	$	1,104	$	1,124	$	2,189	$	2,324	$	31	$	6,772

The Company’s recorded investment in loans as of March 31, 2016 and December 31, 2015 related to the balance in the allowance for loan losses on the basis of the Company’s impairment methodology is as follows:


	March 31, 2016
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Loans individually evaluated for impairment	$	—	$	350	$	388	$	294	$	19	$	1,051
Loans collectively evaluated for impairment		154,693		152,978		307,561		264,198		4,934		884,364
Total	$	154,693	$	153,328	$	307,949	$	264,492	$	4,953	$	885,415


	December 31, 2015
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Loans individually evaluated for impairment	$	—	$	353	$	1,265	$	740	$	21	$	2,379
Loans collectively evaluated for impairment		138,118		146,046		283,357		245,384		5,283		818,188
Total	$	138,118	$	146,399	$	284,622	$	246,124	$	5,304	$	820,567

The Company has acquired certain loans which experienced credit deterioration since origination (purchased credit impaired, or “PCI” loans). Accretion on PCI loans is based on estimated future cash flows, regardless of contractual maturity.

Servicing Assets

At March 31, 2016, the Company was servicing loans of approximately $24,035. A summary of the changes in the related servicing assets are as follows:


	Three months ended March 31,
	2016
Balance at beginning of year	$	426
Servicing asset acquired through acquisition		—
Increase from loan sales		57
Amortization charged to income		(19)
Increase in valuation allowance		—
Balance at end of period	$	464

The estimated fair value of the servicing assets approximated the carrying amount at March 31, 2016. No servicing assets were held by the bank prior to the acquisition of IBT Bancorp, Inc. (“IBT”). Fair value is estimated by discounting estimated future cash flows from the servicing assets using discount rates that approximate current market rates over the expected lives of the loans being serviced. A valuation allowance is recorded when the fair value is below the carrying amount of the asset. At March 31, 2016, there was no valuation allowance recorded

The Company may also receive a portion of subsequent interest collections on loans sold that exceed the contractual servicing fee. In that case, the Company records an interest-only strip based on the relative fair market value of it and the other components of the loans. There was no interest-only strip receivable recorded at March 31, 2016.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2016
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 34.1% and 32.6% for the three months ended March 31, 2016 and 2015. For the three months ended March 31, 2016, the effective tax rate is below the statutory rate, primarily because of tax-exempt income generated from bank owned life insurance. The Company’s reported effective tax rates after including the net impact of discrete items for the three months ended March 31, 2016 and 2015 of 33.7% and 25.0%, 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. 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, 2016 is a current tax receivable of approximately $86 and a net deferred tax asset of approximately $1,435 in other assets. Included in the accompanying consolidated balance sheets as of December 31, 2015 is a current tax liability of $488 in accrued interest payable and other liabilities and a net deferred tax asset of $1,532 in other assets.

Commitment and Contingencies	3 Months Ended
Commitment and Contingencies	Mar. 31, 2016
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 $341 and $363 for the three months ended March 31, 2016 and 2015, respectively.

Fair Value Disclosures

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures

Fair Value Disclosures

7. 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 liability 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, mortgage‑backed securities, collateralized mortgage obligations, and asset-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, 2016 and December 31, 2015, 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, 2016
Investment securities available for sale	$	—	$	79,146	$	—	$	79,146
As of December 31, 2015
Investment securities available for sale	$	—	$	75,813	$	—	$	75,813

There were no liabilities measured at fair value on a recurring basis as of March 31, 2016 or December 31, 2015.

There were no transfers between Level 2 and Level 3 during the three months ended March 31, 2016 and 2015.

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, 2016 and December 31, 2015, 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, 2016
Assets:
Impaired loans	$	—	$	—	$	1,051	$	1,051
Other real estate owned	$	—	$	—	$	—	$	—
As of December 31, 2015
Assets:
Impaired loans	$	—	$	—	$	2,379	$	2,379
Other real estate owned	$	—	$	—	$	—	$	—

At March 31, 2016, impaired loans had a carrying value of $1,051, with $47 specific allowance for loan loss allocated.

At December 31, 2015, impaired loans had a carrying value of $2,379, with $193 specific allowance for loan loss allocated.

There were no liabilities measured at fair value on a non‑recurring basis as of March 31, 2016 or December 31, 2015.

For Level 3 financial assets measured at fair value as of March 31, 2016 and December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows:


March 31, 2016
			Valuation	Unobservable	Weighted
Assets/Liabilities	Fair Value		Technique	Input(s)	Average
Impaired loans	$	1,051	Collateral Method	Adjustments for selling costs	8	%
Other real estate owned	$	—	Collateral Method	Adjustments for selling costs	8	%


December 31, 2015
			Valuation	Unobservable	Weighted
Assets/Liabilities	Fair Value		Technique	Input(s)	Average
Impaired loans	$	2,379	Collateral Method	Adjustments for selling costs	8	%
Other real estate owned	$	—	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 its 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 an estimate 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 valuation 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, 1-4 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.

Servicing assets: The estimated fair value of the servicing assets approximated the carrying amount at March 31, 2016. Fair value is estimated by discounting estimated future cash flows from the servicing assets using discount rates that approximate current market rates over the expected lives of the loans being serviced. A valuation allowance is recorded when the fair value is below the carrying amount of the asset. At March 31, 2016 no valuation allowance was recorded.

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, 2016 and December 31, 2015 were as follows:


	March 31,				December 31,
	2016				2015
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	92,383	$	92,383	$	71,551	$	71,551
Investment securities		79,146		79,146		75,813		75,813
Loans held for sale		3,597		3,597		2,831		2,831
Accrued interest receivable		2,252		2,252		2,216		2,216
Bank-owned life insurance		19,614		19,614		19,459		19,459
Servicing asset		464		464		426		426
Non-marketable equity securities		5,541		5,541		4,167		4,167
Level 3 inputs:
Loans, net		877,978		875,941		813,733		811,455
Financial liabilities:
Level 2 inputs:
Deposits	$	946,058	$	925,840	$	868,410	$	844,966
Advances from FHLB		38,410		38,706		28,444		28,826
Accrued interest payable		95		95		108		108
Junior subordinated debentures		3,093		3,093		3,093		3,093
Subordinated notes		4,983		4,983		4,983		4,983

- 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, 2016

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

Financial Instruments with Off-Balance Sheet Risk

8. 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, 2016 and December 31, 2015:


	March 31,		December 31,
	2016		2015
Commitments to extend credit	$	252,003	$	236,678
Standby and commercial letters of credit		1,650		1,950
	$	253,653	$	238,628

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, 2016

Employee Benefits

Employee Benefits

9. 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 ended March 31, 2016 and 2015.

ESOP

Effective January 1, 2012, the Company adopted the Veritex Community Bank 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 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 that 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 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.

The Company issued 9,147 shares to the ESOP in June of 2015 to settle in full the 401(k) matching liability that was accrued prior to the origination of the $500 loan to the ESOP in January 2014.

Compensation expense attributed to the ESOP contributions recorded in the accompanying condensed consolidated statements of income for the three months ended March 31, 2016 and 2015 was approximately $41 and $45, respectively.

The following is a summary of ESOP shares as of March 31, 2016 and December 31, 2015:


	March 31,		December 31,
	2016		2015
Allocated shares		35,047		35,047
Unearned shares		27,993		27,993
Total ESOP shares		63,040		63,040
Fair value of unearned shares	$	407	$	454

Stock and Incentive Plans

3 Months Ended

Mar. 31, 2016

Stock and Incentive Plans

Stock and Incentive Plans

10. 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 “2010 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 2010 Incentive Plan is 1,000,000. The 2010 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 2010 Incentive Plan. The Company may grant either incentive stock options or nonqualified stock options as directed in the 2010 Incentive Plan.

The Board authorized that the 2010 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 2010 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 2010 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 2010 Incentive Plan.

During the three months ended March 31, 2016 and 2015, the Company did not award any restricted stock units, non-performance‑based stock options or performance‑based stock options under the 2010 Incentive Plan.

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, 2016 and 2015, approximately $29 and $21 of stock compensation expense related to the 2010 Incentive Plan, respectively, was recognized in the accompanying condensed consolidated statements of income.

A summary of option activity under the 2010 Incentive Plan for the three months ended March 31, 2016 and 2015, and changes during the period then ended is presented below:


	For Three Months Ended March 31, 2016
	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	325,500	$	10.15	5.56 years	—	$	—	—
Granted during the period	—		—		—		—
Forfeited during the period	—		—		—		—
Cancelled during the period	—		—		—		—
Exercised during the period	—		—		—		—
Outstanding at the end of period	325,500	$	10.15	5.31 years	—	$	—	—
Options exercisable at end of period	294,500	$	10.07	5.14 years	—	$	—	—
Weighted average fair value of options granted during the period		$	—			$	—


	For Three Months Ended March 31, 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	—		—		—		—
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		$	—			$	—

As of March 31, 2016, December 31, 2015 and March 31, 2015, the aggregate intrinsic value was $1,426 $1,971 and $1,350, respectively, for outstanding non-performance‑based stock options, $1,313, $1,462 and $960, respectively, for exercisable non-performance‑based stock options.

As of March 31, 2016, December 31, 2015 and March 31, 2015, there were no performance‑based stock options outstanding or exercisable.

As of March 31, 2016, December 31, 2015 and March 31, 2015, there was approximately $43, $51 and $186 respectively, of unrecognized compensation expense related to non-performance‑based stock options. The unrecognized compensation expense at March 31, 2016 is expected to be recognized over the remaining weighted average requisite service period of 1.95 years.

As of March 31, 2016, there was no unrecognized compensation expense related to performance-based options.

A summary of the status of the Company’s restricted stock units under the 2010 incentive plan as of March 31, 2016 and 2015, and changes during the three months then ended is as follows:


	2016			2015
		Weighted			Weighted
		Average			Average
		Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value
Nonvested at January 1,	39,750	$	11.34	62,250	$	10.86
Granted during the period	—		—	—		—
Vested during the period	(5,000)		10.00	(20,000)		10.00
Forfeited during the period	—		—	—		—
Nonvested at March 31,	34,750	$	11.53	42,250	$	11.30

As of March 31, 2016, December 31, 2015 and March 31, 2015, there was $153, $174, and $258 respectively, of total unrecognized compensation expense related to nonvested restricted stock units. The compensation expense as of March 31, 2016 expected to be recognized over the remaining weighted average requisite service period of 1.60 years.

2014 Omnibus Plan

In September of 2014, the Company adopted an omnibus incentive plan or the 2014 Omnibus Plan (“2014 Omnibus Plan”). The purpose of the 2014 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 2014 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 2014 Omnibus Plan is 1,000,000.

The Company granted 71,286 options and 54,930 restricted stock units to its employees and directors during the three months ended March 31, 2016 under the 2014 Omnibus Plan. Of the options awarded, 56,286 vest in equal annual installments over a three-year period from the grant date and the remainder vest in equal annual installments over a five-year period from the grant date. 34,190 of the restricted stock units awarded include a market condition based on the Company’s total shareholder return relative to a market index that determines the number of restricted stock units that may vest equally over a three-year period from the date of grant. The remaining 20,740 grants do not include market conditions, 8,000 vest in five equal annual installments beginning in 2017, 9,240 vest in equal quarterly installments during 2016 and the remaining 3,500 vest in three equal annual installments beginning January 1, 2017.

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 2014 Omnibus Plan. The options vest equally over three 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 that determines the number of restricted stock units that may vest equally over a three-year period from the date of grant.

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,
	2016	2015
Dividend yield	0.00%	0.00%
Expected life	5.0 to 6.5 years	6 years
Expected volatility	35.23% to 37.55%	37.00%
Risk-free interest rate	1.26% to 2.01%	1.81%

The expected life is based on the 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 stock options under the 2014 Omnibus Plan as of March 31, 2016 and 2015, and changes during the three months ended is as follows:


	2016				2015
	Nonperformance-based stock options				Nonperformance-based stock options
				Weighted				Weighted
	Shares	Weighted		Average	Shares	Weighted		Average
	Underlying	Exercise		Contractual	Underlying	Exercise		Contractual
	Options	Price		Term	Options	Price		Term
Outstanding at beginning of year	52,080	$	14.35	9.12 years	—	$	—
Granted during the period	71,286		15.88		44,080		14.17
Forfeited during the period	—		—		—		—
Cancelled during the period	—		—		—		—
Exercised during the period	—		—		—		—
Outstanding at the end of period	123,366	$	15.23	9.41 years	44,080	$	14.17	9.76 years
Options exercisable at end of period	14,693	$	14.17	8.76 years	—	$	—
Weighted average fair value of options granted during the period		$	6.09			$	5.46

As of March 31, 2016, December 31, 2015 and March 31, 2015 the aggregate intrinsic value was $0, $97 and $0 for outstanding stock options under the 2014 Omnibus plan. As of March 31, 2016 the aggregate intrinsic value was $5 for exercisable stock options outstanding under the 2014 Omnibus plan, there were no exercisable stock options outstanding under the 2014 Omnibus Plan as of December 31, 2015 or March 31, 2015.

A summary of the status of the Company’s restricted stock units under the 2014 Omnibus Plan as of March 31, 2016 and 2015, and changes during the three months ended is as follows:


	2016			2015
	Restricted stock units			Restricted stock units
		Weighted			Weighted
		Average			Average
		Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value
Nonvested at January 1,	96,393	$	13.00	82,903	$	13.00
Granted during the period	54,930		11.82	25,474		9.45
Vested during the period	(10,777)		14.61	—		—
Forfeited during the period	—		—	—		—
Nonvested at March 31,	140,546	$	12.42	108,377	$	13.28

For the three months ended March 31, 2016, compensation expense for awards granted under the 2014 Omnibus Plan was approximately $51 and $144 for options and restricted stock units, respectively.

For the three months ended March 31, 2015, compensation expense for awards granted under the 2014 Omnibus Plan was approximately $18 and $69 for options and restricted stock units, respectively.

As of March 31, 2016, December 31, 2015 and March 31, 2015 there was $560, $187 and $201 of total unrecognized compensation expense related to options awarded under the 2014 Omnibus Plan, respectively. As of March 31, 2016, December 31, 2015 and March 31, 2015 there was $1,485, $979 and $1,072 of total unrecognized compensation related to 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 2.91 and 3.19 years, respectively.

Significant Concentrations of Credit Risk	3 Months Ended
Significant Concentrations of Credit Risk	Mar. 31, 2016
Significant Concentrations of Credit Risk
Significant Concentrations of Credit Risk	11. 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, 2016
Preferred Stock Disclosure [Abstract]
Preferred Stock	12. Preferred Stock On August 25, 2011, the Company entered into a Small Business Lending Fund‑Securities Purchase Agreement (the “SBLF Purchase Agreement”) with the Secretary of the Treasury (the “Treasury”), pursuant to which the Company sold 8,000 shares of the Company’s Senior Non‑Cumulative Perpetual Preferred Stock, Series C (the “SBLF Preferred Stock”) to the Treasury for a purchase price of $8,000. The issuance was pursuant to the Small Business Lending Fund (“SBLF”) program, a fund established under the Small Business Jobs Act of 2010 that was created to encourage lending to small businesses 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%. For the tenth calendar quarter through 4.5 years after issuance, the dividend rate will be fixed and as of December 22, 2015 was set at 1% based upon the increase in QBSL as compared to the baseline. 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. On December 22, 2015, the Company redeemed all 8,000 shares of SBLF Preferred Stock at its liquidation value of $1,000 per share plus accrued dividends for a total redemption amount of $8,018. The redemption was approved by the Company’s primary federal regulator and was funded with the Company’s surplus capital. Immediately after the redemption, the Company’s capital ratios remained in excess of those levels necessary to be categorized as “well capitalized” under the regulatory framework for prompt corrective action. The redemption terminated the Company’s participation in the SBLF program.

Capital Requirements and Restrictions on Retained Earnings

3 Months Ended

Mar. 31, 2016

Capital Requirements and Restrictions on Retained Earnings Disclosure [Abstract]

Capital Requirements and Restrictions on Retained Earnings

13. 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 Company on a consolidated basis and the Bank are 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 Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities, and certain off balance sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.

In July 2013, the Federal Reserve published final rules for the adoption of the Basel III regulatory capital framework (the “Basel III Capital Rules”). The Basel III Capital Rules, among other things, (i) introduce a new capital measure called “Common Equity Tier 1” (“CET1”), (ii) specify that Tier 1 capital consist of Common Equity Tier 1 and “Additional Tier 1 Capital” instruments meeting specified requirements, (iii) define Common Equity Tier 1 narrowly by requiring that most deductions/adjustments to regulatory capital measures be made to Common Equity Tier 1 and not to the other components of capital and (iv) expand the scope of the deductions/adjustments as compared to existing regulations. The Basel III Capital Rules became effective for the Company on January 1, 2015 with certain transition provisions to be fully phased in by January 1, 2019.

Starting in January 2016, the implementation of the capital conservation buffer became effective for the Company starting at the 0.625% level and increasing 0.625% each year thereafter, until it reaches 2.5% on January 1, 2019. The capital conservation buffer is designed to absorb losses during periods of economic stress and effectively increases the minimum required risk-weighted capital ratios.

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, CET1 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, 2016 and December 31, 2015 that the Bank met all capital adequacy requirements to which it was subject.

As of March 31, 2016 and December 31, 2015, the Company’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 Company must maintain minimum total risk‑based, CET1, Tier 1 risk‑based and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since March 31, 2016 that management believes have changed the Company’s categorization as “well capitalized”.

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, 2016
Total capital (to risk-weighted assets)
Company	$	122,332	13.38	%	≥	$	73,143	≥	8.0	%	≥		n/a	≥	n/a
Bank	$	107,771	11.76	%	≥	$	73,314	≥	8.0	%	≥	$	91,642	≥	10.0	%
Tier 1 capital (to risk-weighted assets)
Company	$	109,976	12.03	%	≥	$	54,851	≥	6.0	%	≥		n/a	≥	n/a
Bank	$	100,399	10.95	%	≥	$	55,013	≥	6.0	%	≥	$	73,351	≥	8.0	%
Common equity tier 1 to risk-weighted assets
Company	$	106,883	11.69	%	≥	$	41,144	≥	4.5	%	≥		n/a	≥	n/a
Bank	$	100,399	10.95	%	≥	$	41,260	≥	4.5	%	≥	$	59,598	≥	6.5	%
Tier 1 capital (to average assets)
Company	$	109,976	10.38	%	≥	$	42,380	≥	4.0	%	≥		n/a	≥	n/a
Bank	$	100,399	9.48	%	≥	$	42,362	≥	4.0	%	≥	$	52,953	≥	5.0	%
As of December 31, 2015
Total capital (to risk-weighted assets)
Company	$	119,208	14.25	%	≥	$	66,924	≥	8.0	%	≥		n/a	≥	n/a
Bank	$	104,427	12.49	%	≥	$	66,887	≥	8.0	%	≥	$	83,608	≥	10.0	%
Tier 1 capital (to risk-weighted assets)
Company	$	107,453	12.85	%	≥	$	50,173	≥	6.0	%	≥		n/a	≥	n/a
Bank	$	97,655	11.68	%	≥	$	50,165	≥	6.0	%	≥	$	66,887	≥	8.0	%
Common equity tier 1 to risk-weighted assets
Company	$	104,360	12.48	%	≥	$	37,630	≥	4.5	%	≥		n/a	≥	n/a
Bank	$	97,655	11.68	%	≥	$	37,624	≥	4.5	%	≥	$	54,346	≥	6.5	%
Tier 1 capital (to average assets)
Company	$	107,453	10.75	%	≥	$	39,983	≥	4.0	%	≥		n/a	≥	n/a
Bank	$	97,655	9.78	%	≥	$	39,941	≥	4.0	%	≥	$	49,926	≥	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, 2016

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying consolidated financial statements include the accounts of Veritex and the Bank as its wholly‑owned subsidiary.

Segment Reporting

Reclassifications

Earnings Per Share


	Three Months Ended March 31,
	2016		2015
Earnings (numerator)
Net income	$	2,813	$	1,824
Less: preferred stock dividends		—		20
Net income allocated to common stockholders	$	2,813	$	1,804
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)		10,694		9,448
Dilutive effect of employee stock-based awards		270		296
Adjusted weighted average shares outstanding		10,964		9,744
Earnings per share:
Basic	$	0.26	$	0.19
Diluted	$	0.26	$	0.19

Recent Accounting Pronouncements

Summary of Significant Accounting Policy (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Significant Accounting Policies

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


	Three Months Ended March 31,
	2016		2015
Earnings (numerator)
Net income	$	2,813	$	1,824
Less: preferred stock dividends		—		20
Net income allocated to common stockholders	$	2,813	$	1,804
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)		10,694		9,448
Dilutive effect of employee stock-based awards		270		296
Adjusted weighted average shares outstanding		10,964		9,744
Earnings per share:
Basic	$	0.26	$	0.19
Diluted	$	0.26	$	0.19

Supplemental Statement of Cash Flows (Tables)

3 Months Ended

Mar. 31, 2016

Supplemental Cash Flow Elements [Abstract]

Schedule of other supplemental cash flow information


	Three Months Ended March 31,
	2016		2015
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	1,106	$	775
Cash paid for income taxes		2,025		100
Supplemental Disclosures of Non-Cash Flow Information:
Net issuance of common stock for vesting of restricted stock units to cover withholding		68		96
Net foreclosure of other real estate owned	$	114	$	493

Investment Securities (Tables)

3 Months Ended

Mar. 31, 2016

Investment Securities

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


	March 31, 2016
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Available for Sale
U.S. government agencies	$	782	$	—	$	22	$	760
Municipal securities		7,048		26		25		7,049
Mortgage-backed securities		45,496		140		146		45,490
Collateralized mortgage obligations		24,821		200		24		24,997
Asset-backed securities		871		—		21		850
	$	79,018	$	366	$	238	$	79,146


	December 31, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
Available for Sale
U.S. government agencies	$	3,823	$	—	$	36	$	3,787
Municipal securities		6,738		9		52		6,695
Mortgage-backed securities		46,180		169		292		46,057
Collateralized mortgage obligations		18,379		64		59		18,384
Asset-backed securities		907		—		17		890
	$	76,027	$	242	$	456	$	75,813

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


	March 31, 2016
	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	$	—	$	—	$	760	$	22	$	760	$	22
Municipal securities		3,444		25		—		—		3,444		25
Mortgage-backed securities		18,828		100		3,514		46		22,342		146
Collateralized mortgage obligations		3,632		32		1,134		13		4,766		45
	$	25,904	$	157	$	5,408	$	81	$	31,312	$	238


	December 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	$	2,978	$	7	$	809	$	29	$	3,787	$	36
Municipal securities		4,216		52		—		—		4,216		52
Mortgage-backed securities		32,255		253		2,792		39		35,047		292
Collateralized mortgage obligations		8,672		76		—		—		8,672		76
	$	48,121	$	388	$	3,601	$	68	$	51,722	$	456

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


	March 31, 2016
	Available For Sale
	Amortized		Fair
	Cost		Value
Due in one year or less	$	—	$	—
Due from one year to five years		2,617		2,628
Due from five years to ten years		396		389
Due after ten years		4,817		4,792
		7,830		7,809
Mortgage-backed securities		45,496		45,490
Collateralized mortgage obligations		24,821		24,997
Asset-backed securities		871		850
	$	79,018	$	79,146


	December 31, 2015
	Available For Sale
	Amortized		Fair
	Cost		Value
Due in one year or less	$	996	$	999
Due from one year to five years		4,869		4,851
Due from five years to ten years		428		417
Due after ten years		4,268		4,215
		10,561		10,482
Mortgage-backed securities		46,180		46,057
Collateralized mortgage obligations		18,379		18,384
Asset-backed securities		907		890
	$	76,027	$	75,813

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


	Three Months Ended March 31,		Three Months Ended March 31,
	2016		2015
Proceeds from sales	$	8,378	$	3,778
Gross realized gains		43		7
Gross realized losses		39		-

Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2016

Loans and Allowance for Loan Losses

Summary of loans


	March 31,		December 31,
	2016		2015
Real estate:
Construction and land	$	143,405	$	126,422
Farmland		11,288		11,696
1 - 4 family residential		136,734		137,704
Multi-family residential		16,594		8,695
Nonfarm nonresidential		307,949		284,622
Commercial		264,492		246,124
Consumer		4,953		5,304
		885,415		820,567
Deferred loan fees		(65)		(62)
Allowance for loan losses		(7,372)		(6,772)
	$	877,978	$	813,733

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


	March 31,		December 31,
	2016		2015
Real estate:
Construction and land	$	—	$	—
Farmland		—		—
1 - 4 family residential		184		187
Multi-family residential		—		—
Nonfarm nonresidential		—		—
Commercial		322		383
Consumer		19		21
	$	525	$	591

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


	March 31, 2016
													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	$	45	$	—	$	—	$	45	$	143,360	$	143,405	$	—
Farmland		—		—		—		—		11,288		11,288		—
1 - 4 family residential		709		228		228		1,165		135,569		136,734		60
Multi-family residential		—		—		—		—		16,594		16,594		—
Nonfarm nonresidential		—		—		—		—		307,949		307,949		—
Commercial		1,142		37		224		1,403		263,089		264,492		81
Consumer		4		—		—		4		4,949		4,953		—
	$	1,900	$	265	$	452	$	2,617	$	882,798	$	885,415	$	141


	December 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	$	3	$	—	$	—	$	3	$	126,419	$	126,422	$	—
Farmland		—		—		—		—		11,696		11,696		—
1 - 4 family residential		215		438		187		840		136,864		137,704		—
Multi-family residential		—		—		—		—		8,695		8,695		—
Nonfarm nonresidential		—		175		—		175		284,447		284,622		—
Commercial		883		81		159		1,123		245,001		246,124		83
Consumer		8		2		1		11		5,293		5,304		1
	$	1,109	$	696	$	347	$	2,152	$	818,415	$	820,567	$	84

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


	March 31, 2016
	Unpaid		Recorded		Recorded						Average
	Contractual		Investment		Investment		Total				Recorded
	Principal		with No		With		Recorded		Related		Investment
	Balance		Allowance		Allowance		Investment		Allowance		YTD
Real estate:
Construction and land	$	—	$	—	$	—	$	—	$	—	$	—
Farmland		—		—		—		—		—		—
1 - 4 family residential		350		350		—		350		—		352
Multi-family residential		—		—		—		—		—		—
Nonfarm nonresidential		388		388		—		388		—		604
Commercial		294		126		168		294		41		202
Consumer		19		2		17		19		6		21
Total	$	1,051	$	866	$	185	$	1,051	$	47	$	1,179


	December 31, 2015
	Unpaid		Recorded		Recorded						Average
	Contractual		Investment		Investment		Total				Recorded
	Principal		with No		With		Recorded		Related		Investment
	Balance		Allowance		Allowance		Investment		Allowance		YTD
Real estate:
Construction and land	$	—	$	—	$	—	$	—	$	—	$	10
Farmland		—		—		—		—		—		—
1 - 4 family residential		353		353		—		353		—		191
Multi-family residential		—		—		—		—		—		—
Nonfarm nonresidential		1,265		1,265		—		1,265		—		1,146
Commercial		740		390		350		740		186		533
Consumer		21		3		18		21		7		27
Total	$	2,379	$	2,011	$	368	$	2,379	$	193	$	1,907

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	1		399		—		—		—		397
Commercial	—		—		—		—		—		—
Consumer	—		—		—		—		—		—
Total	1	$	399	$	—	$	—	$	—	$	397

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

	March 31, 2016
			Special
	Pass		Mention		Substandard		Doubtful		Total
Real estate:
Construction and land	$	143,405	$	—	$	—	$	—	$	143,405
Farmland		11,288		—		—		—		11,288
1 - 4 family residential		135,129		759		846		—		136,734
Multi-family residential		16,594		—		—		—		16,594
Nonfarm nonresidential		307,185		764		—		—		307,949
Commercial(1)		251,430		12,053		994		15		264,492
Consumer		4,934		—		19		—		4,953
Total	$	869,965	$	13,576	$	1,859	$	15	$	885,415


	December 31, 2015
			Special
	Pass		Mention		Substandard		Doubtful		Total
Real estate:
Construction and land	$	126,422	$	—	$	—	$	—	$	126,422
Farmland		11,696		—		—		—		11,696
1 - 4 family residential		136,856		—		848		—		137,704
Multi-family residential		8,695		—		—		—		8,695
Nonfarm nonresidential		282,404		2,043		175		—		284,622
Commercial		244,948		573		527		76		246,124
Consumer		5,282		1		21		—		5,304
Total	$	816,303	$	2,617	$	1,571	$	76	$	820,567

(1)

Subsequent to March 31, 2016, the Company further downgraded a $6.0 million loan classified as Special Mention to Substandard.

Schedule of analysis of the allowance for loan losses



	Three Months Ended		Year Ended		Three Months Ended
	March 31, 2016		December 31, 2015		March 31, 2015
Balance at beginning of year	$	6,772	$	5,981	$	5,981
Provision charged to earnings		845		868		110
Charge-offs		(249)		(140)		(102)
Recoveries		4		63		17
Net charge-offs		(245)		(77)		(85)
Balance at end of year	$	7,372	$	6,772	$	6,006

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


	For the Three Months Ended March 31, 2016
	Real Estate
	Construction,				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of period	$	1,104	$	1,124	$	2,189	$	2,324	$	31	$	6,772
Provision charged to earnings		191		2		296		351		5		845
Charge-offs		—		—		—		(240)		(9)		(249)
Recoveries		—		—		—		4		—		4
Net charge-offs (recoveries)		—		—		—		(236)		(9)		(245)
Balance at end of period	$	1,295	$	1,126	$	2,485	$	2,439	$	27	$	7,372
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	—	$	—	$	—	$	42	$	6	$	48
Total specific reserves		—		—		—		42		6		48
General reserves		1,295		1,126		2,485		2,397		21		7,324
Total	$	1,295	$	1,126	$	2,485	$	2,439	$	27	$	7,372


	For the Three Months Ended March 31, 2015
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Balance at beginning of period	$	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 period	$	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


	For the Year Ended December 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		383		(42)		294		262		(29)		868
Charge-offs		(48)		—		—		(87)		(5)		(140)
Recoveries		—		—		5		57		1		63
Net charge-offs (recoveries)		(48)		—		5		(30)		(4)		(77)
Balance at end of year	$	1,104	$	1,124	$	2,189	$	2,324	$	31	$	6,772
Period-end amount allocated to:
Specific reserves:
Impaired loans	$	—	$	—	$	—	$	186	$	7	$	193
Total specific reserves		—		—		—		186		7		193
General reserves		1,104		1,124		2,189		2,138		24		6,579
Total	$	1,104	$	1,124	$	2,189	$	2,324	$	31	$	6,772

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, 2016
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Loans individually evaluated for impairment	$	—	$	350	$	388	$	294	$	19	$	1,051
Loans collectively evaluated for impairment		154,693		152,978		307,561		264,198		4,934		884,364
Total	$	154,693	$	153,328	$	307,949	$	264,492	$	4,953	$	885,415


	December 31, 2015
	Real Estate
	Construction				Nonfarm
	Land and				Non-
	Farmland		Residential		Residential		Commercial		Consumer		Total
Loans individually evaluated for impairment	$	—	$	353	$	1,265	$	740	$	21	$	2,379
Loans collectively evaluated for impairment		138,118		146,046		283,357		245,384		5,283		818,188
Total	$	138,118	$	146,399	$	284,622	$	246,124	$	5,304	$	820,567

Schedule of summary of changes in servicing assets


	Three months ended March 31,
	2016
Balance at beginning of year	$	426
Servicing asset acquired through acquisition		—
Increase from loan sales		57
Amortization charged to income		(19)
Increase in valuation allowance		—
Balance at end of period	$	464

Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016
Investment securities available for sale	$	—	$	79,146	$	—	$	79,146
As of December 31, 2015
Investment securities available for sale	$	—	$	75,813	$	—	$	75,813

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, 2016
Assets:
Impaired loans	$	—	$	—	$	1,051	$	1,051
Other real estate owned	$	—	$	—	$	—	$	—
As of December 31, 2015
Assets:
Impaired loans	$	—	$	—	$	2,379	$	2,379
Other real estate owned	$	—	$	—	$	—	$	—

Schedule of significant unobservable inputs used in the fair value measurements


March 31, 2016
			Valuation	Unobservable	Weighted
Assets/Liabilities	Fair Value		Technique	Input(s)	Average
Impaired loans	$	1,051	Collateral Method	Adjustments for selling costs	8	%
Other real estate owned	$	—	Collateral Method	Adjustments for selling costs	8	%


December 31, 2015
			Valuation	Unobservable	Weighted
Assets/Liabilities	Fair Value		Technique	Input(s)	Average
Impaired loans	$	2,379	Collateral Method	Adjustments for selling costs	8	%
Other real estate owned	$	—	Collateral Method	Adjustments for selling costs	8	%

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


	March 31,				December 31,
	2016				2015
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Level 2 inputs:
Cash and cash equivalents	$	92,383	$	92,383	$	71,551	$	71,551
Investment securities		79,146		79,146		75,813		75,813
Loans held for sale		3,597		3,597		2,831		2,831
Accrued interest receivable		2,252		2,252		2,216		2,216
Bank-owned life insurance		19,614		19,614		19,459		19,459
Servicing asset		464		464		426		426
Non-marketable equity securities		5,541		5,541		4,167		4,167
Level 3 inputs:
Loans, net		877,978		875,941		813,733		811,455
Financial liabilities:
Level 2 inputs:
Deposits	$	946,058	$	925,840	$	868,410	$	844,966
Advances from FHLB		38,410		38,706		28,444		28,826
Accrued interest payable		95		95		108		108
Junior subordinated debentures		3,093		3,093		3,093		3,093
Subordinated notes		4,983		4,983		4,983		4,983

Financial Instruments with Off-Balance Sheet Risk (Tables)

3 Months Ended

Mar. 31, 2016

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,
	2016		2015
Commitments to extend credit	$	252,003	$	236,678
Standby and commercial letters of credit		1,650		1,950
	$	253,653	$	238,628

Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2016

Employee Benefits

Summary of ESOP shares


	March 31,		December 31,
	2016		2015
Allocated shares		35,047		35,047
Unearned shares		27,993		27,993
Total ESOP shares		63,040		63,040
Fair value of unearned shares	$	407	$	454

Stock Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2016

2010 Stock Option and Equity Incentive Plan

Summary of option activity


	For Three Months Ended March 31, 2016
	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	325,500	$	10.15	5.56 years	—	$	—	—
Granted during the period	—		—		—		—
Forfeited during the period	—		—		—		—
Cancelled during the period	—		—		—		—
Exercised during the period	—		—		—		—
Outstanding at the end of period	325,500	$	10.15	5.31 years	—	$	—	—
Options exercisable at end of period	294,500	$	10.07	5.14 years	—	$	—	—
Weighted average fair value of options granted during the period		$	—			$	—


	For Three Months Ended March 31, 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	—		—		—		—
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		$	—			$	—

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


	2016			2015
		Weighted			Weighted
		Average			Average
		Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value
Nonvested at January 1,	39,750	$	11.34	62,250	$	10.86
Granted during the period	—		—	—		—
Vested during the period	(5,000)		10.00	(20,000)		10.00
Forfeited during the period	—		—	—		—
Nonvested at March 31,	34,750	$	11.53	42,250	$	11.30

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,
	2016	2015
Dividend yield	0.00%	0.00%
Expected life	5.0 to 6.5 years	6 years
Expected volatility	35.23% to 37.55%	37.00%
Risk-free interest rate	1.26% to 2.01%	1.81%

Summary of option activity


	2016				2015
	Nonperformance-based stock options				Nonperformance-based stock options
				Weighted				Weighted
	Shares	Weighted		Average	Shares	Weighted		Average
	Underlying	Exercise		Contractual	Underlying	Exercise		Contractual
	Options	Price		Term	Options	Price		Term
Outstanding at beginning of year	52,080	$	14.35	9.12 years	—	$	—
Granted during the period	71,286		15.88		44,080		14.17
Forfeited during the period	—		—		—		—
Cancelled during the period	—		—		—		—
Exercised during the period	—		—		—		—
Outstanding at the end of period	123,366	$	15.23	9.41 years	44,080	$	14.17	9.76 years
Options exercisable at end of period	14,693	$	14.17	8.76 years	—	$	—
Weighted average fair value of options granted during the period		$	6.09			$	5.46

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


	2016			2015
	Restricted stock units			Restricted stock units
		Weighted			Weighted
		Average			Average
		Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value
Nonvested at January 1,	96,393	$	13.00	82,903	$	13.00
Granted during the period	54,930		11.82	25,474		9.45
Vested during the period	(10,777)		14.61	—		—
Forfeited during the period	—		—	—		—
Nonvested at March 31,	140,546	$	12.42	108,377	$	13.28

Capital Requirements and Restrictions on Retained Earnings (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016
Total capital (to risk-weighted assets)
Company	$	122,332	13.38	%	≥	$	73,143	≥	8.0	%	≥		n/a	≥	n/a
Bank	$	107,771	11.76	%	≥	$	73,314	≥	8.0	%	≥	$	91,642	≥	10.0	%
Tier 1 capital (to risk-weighted assets)
Company	$	109,976	12.03	%	≥	$	54,851	≥	6.0	%	≥		n/a	≥	n/a
Bank	$	100,399	10.95	%	≥	$	55,013	≥	6.0	%	≥	$	73,351	≥	8.0	%
Common equity tier 1 to risk-weighted assets
Company	$	106,883	11.69	%	≥	$	41,144	≥	4.5	%	≥		n/a	≥	n/a
Bank	$	100,399	10.95	%	≥	$	41,260	≥	4.5	%	≥	$	59,598	≥	6.5	%
Tier 1 capital (to average assets)
Company	$	109,976	10.38	%	≥	$	42,380	≥	4.0	%	≥		n/a	≥	n/a
Bank	$	100,399	9.48	%	≥	$	42,362	≥	4.0	%	≥	$	52,953	≥	5.0	%
As of December 31, 2015
Total capital (to risk-weighted assets)
Company	$	119,208	14.25	%	≥	$	66,924	≥	8.0	%	≥		n/a	≥	n/a
Bank	$	104,427	12.49	%	≥	$	66,887	≥	8.0	%	≥	$	83,608	≥	10.0	%
Tier 1 capital (to risk-weighted assets)
Company	$	107,453	12.85	%	≥	$	50,173	≥	6.0	%	≥		n/a	≥	n/a
Bank	$	97,655	11.68	%	≥	$	50,165	≥	6.0	%	≥	$	66,887	≥	8.0	%
Common equity tier 1 to risk-weighted assets
Company	$	104,360	12.48	%	≥	$	37,630	≥	4.5	%	≥		n/a	≥	n/a
Bank	$	97,655	11.68	%	≥	$	37,624	≥	4.5	%	≥	$	54,346	≥	6.5	%
Tier 1 capital (to average assets)
Company	$	107,453	10.75	%	≥	$	39,983	≥	4.0	%	≥		n/a	≥	n/a
Bank	$	97,655	9.78	%	≥	$	39,941	≥	4.0	%	≥	$	49,926	≥	5.0	%

Summary of Significant Accounting Policies - Nature of Organization (Details)	3 Months Ended
	Mar. 31, 2016 item
Nature of Organization
Number of Branches	10
Number of mortgage offices	1
Segment Reporting:
Number of reportable segment	1

Summary of Significant Accounting Policies - IPO (Details) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Initial Public Offering [Abstract]
Common stock, shares authorized	75,000,000	75,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01

Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings (numerator)
Net income for common stockholders	$ 2,813	$ 1,824
Less: preferred stock dividends		20
Net income available to common stockholders	$ 2,813	$ 1,804
Shares (denominator)
Weighted average shares outstanding for basic EPS (thousands)	10,694	9,448
Dilutive effect of employee stock based awards and warrants	270	296
Adjusted weighted average shares outstanding	10,964	9,744
Earnings per share:
Basic (in dollars per share)	$ 0.26	$ 0.19
Diluted (in dollars per share)	$ 0.26	$ 0.19

Summary of Significant Accounting Policies - Antidilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Performance-based stock options
Earnings Per Share
Excluded from diluted EPS weighted average shares	111,882	44,080

Supplemental Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$ 1,106	$ 775
Cash paid for income taxes	2,025	100
Supplemental Disclosures of Non Cash Flow Information:
Net issuance of common stock for vesting of restricted stock units to cover withholding	68	96
Net foreclosure of other real estate owned	$ 114	$ 493

Investment Securities - Carrying Amount and Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Available for Sale securities
Amortized Cost	$ 79,018	$ 76,027
Gross Unrealized Gains	366	242
Gross Unrealized Losses	238	456
Fair Value	79,146	75,813
U.S. government agencies
Available for Sale securities
Amortized Cost	782	3,823
Gross Unrealized Losses	22	36
Fair Value	760	3,787
Municipal securities
Available for Sale securities
Amortized Cost	7,048	6,738
Gross Unrealized Gains	26	9
Gross Unrealized Losses	25	52
Fair Value	7,049	6,695
Mortgage-backed securities
Available for Sale securities
Amortized Cost	45,496	46,180
Gross Unrealized Gains	140	169
Gross Unrealized Losses	146	292
Fair Value	45,490	46,057
Collateralized mortgage obligations
Available for Sale securities
Amortized Cost	24,821	18,379
Gross Unrealized Gains	200	64
Gross Unrealized Losses	24	59
Fair Value	24,997	18,384
Asset-backed securities
Available for Sale securities
Amortized Cost	871	907
Gross Unrealized Losses	21	17
Fair Value	$ 850	$ 890

Investment Securities - Unrealized Loss Position (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016 USD ($) item	Dec. 31, 2015 USD ($) item
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	$ 25,904	$ 48,121
Less Than 12 Months, Unrealized Loss	157	388
12 Months or More, Fair Value	5,408	3,601
12 Months or More, Unrealized Loss	81	68
Total Fair Value	31,312	51,722
Total Unrealized Loss	$ 238	$ 456
Number of investment positions in an unrealized loss position \| item	24	52
U.S. government agencies
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value		$ 2,978
Less Than 12 Months, Unrealized Loss		7
12 Months or More, Fair Value	$ 760	809
12 Months or More, Unrealized Loss	22	29
Total Fair Value	760	3,787
Total Unrealized Loss	22	36
Municipal securities
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	3,444	4,216
Less Than 12 Months, Unrealized Loss	25	52
Total Fair Value	3,444	4,216
Total Unrealized Loss	25	52
Mortgage-backed securities
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	18,828	32,255
Less Than 12 Months, Unrealized Loss	100	253
12 Months or More, Fair Value	3,514	2,792
12 Months or More, Unrealized Loss	46	39
Total Fair Value	22,342	35,047
Total Unrealized Loss	146	292
Collateralized mortgage obligations
Available for sale investment securities that have been in a continuous unrealized loss position
Less Than 12 Months, Fair Value	3,632	8,672
Less Than 12 Months, Unrealized Loss	32	76
12 Months or More, Fair Value	1,134
12 Months or More, Unrealized Loss	13
Total Fair Value	4,766	8,672
Total Unrealized Loss	$ 45	$ 76

Investment Securities - Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Amortized costs of securities available for sale, by contractual maturity
Due in one year or less		$ 996
Due from one year to five years	$ 2,617	4,869
Due from five years to ten years	396	428
Due after ten years	4,817	4,268
Total investment securities available for sale, single maturity date	7,830	10,561
Total investment securities available for sale, amortized cost basis	79,018	76,027
Estimated fair values of securities available for sale, by contractual maturity
Due in one year or less		999
Due from one year to five years	2,628	4,851
Due from five years to ten years	389	417
Due after ten years	4,792	4,215
Total investment securities available for sale	7,809	10,482
Total investment securities available for sale, fair value	79,146	75,813
Mortgage-backed securities
Amortized costs of securities available for sale, by contractual maturity
Amortized Cost	45,496	46,180
Estimated fair values of securities available for sale, by contractual maturity
Fair Value	45,490	46,057
Collateralized mortgage obligations
Amortized costs of securities available for sale, by contractual maturity
Amortized Cost	24,821	18,379
Estimated fair values of securities available for sale, by contractual maturity
Fair Value	24,997	18,384
Asset-backed securities
Amortized costs of securities available for sale, by contractual maturity
Amortized Cost	871	907
Estimated fair values of securities available for sale, by contractual maturity
Fair Value	$ 850	$ 890

Investment Securities - Proceeds and Gross Gains/Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Proceeds from sales of investment securities available for sale and gross gains and losses
Proceeds from sales	$ 8,378	$ 3,778
Gross realized gains	43	7
Gross realized losses	39
Calls of investment securities
Proceeds from sales of investment securities available for sale and gross gains and losses
Gross realized gains	11	0
Gross realized losses	$ 0	$ 0

Loans and Allowance for Loan Losses - Balance Sheet Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Loans and Allowance for Loan Losses
Loans, gross	$ 885,415	$ 820,567
Deferred loan fees	(65)	(62)
Allowance for loan losses	(7,372)	(6,772)	$ (6,006)	$ (5,981)
Loans, net	877,978	813,733
Accretable discount related to loans acquired within a business combination	857	1,029
Construction and land
Loans and Allowance for Loan Losses
Loans, gross	143,405	126,422
Farmland
Loans and Allowance for Loan Losses
Loans, gross	11,288	11,696
1 - 4 family residential
Loans and Allowance for Loan Losses
Loans, gross	136,734	137,704
Multi-family residential
Loans and Allowance for Loan Losses
Loans, gross	16,594	8,695
Nonfarm nonresidential
Loans and Allowance for Loan Losses
Loans, gross	307,949	284,622
Allowance for loan losses	(2,485)	(2,189)	(1,841)	(1,890)
Commercial
Loans and Allowance for Loan Losses
Loans, gross	264,492	246,124
Allowance for loan losses	(2,439)	(2,324)	(2,014)	(2,092)
Consumer
Loans and Allowance for Loan Losses
Loans, gross	4,953	5,304
Allowance for loan losses	$ (27)	$ (31)	$ (53)	$ (64)

Loans and Allowance for Loan Losses - Nonaccrual (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Loans and Allowance for Loan Losses
Non-accrual loans, excluding purchased credit impaired loans	$ 525	$ 591
1 - 4 family residential
Loans and Allowance for Loan Losses
Non-accrual loans, excluding purchased credit impaired loans	184	187
Commercial
Loans and Allowance for Loan Losses
Non-accrual loans, excluding purchased credit impaired loans	322	383
Consumer
Loans and Allowance for Loan Losses
Non-accrual loans, excluding purchased credit impaired loans	$ 19	$ 21

Loans and Allowance for Loan Losses - Past Due (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	$ 2,617	$ 2,152
Total Current	882,798	818,415
Total Loans	885,415	820,567
Total 90 Days Past Due and Still Accruing	141	84
30 to 59 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	1,900	1,109
60 to 89 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	265	696
90 Days or Greater
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	452	347
Construction and land
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	45	3
Total Current	143,360	126,419
Total Loans	143,405	126,422
Construction and land \| 30 to 59 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	45	3
Farmland
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Current	11,288	11,696
Total Loans	11,288	11,696
1 - 4 family residential
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	1,165	840
Total Current	135,569	136,864
Total Loans	136,734	137,704
Total 90 Days Past Due and Still Accruing	60
1 - 4 family residential \| 30 to 59 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	709	215
1 - 4 family residential \| 60 to 89 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	228	438
1 - 4 family residential \| 90 Days or Greater
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	228	187
Multi-family residential
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Current	16,594	8,695
Total Loans	16,594	8,695
Nonfarm nonresidential
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due		175
Total Current	307,949	284,447
Total Loans	307,949	284,622
Nonfarm nonresidential \| 60 to 89 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due		175
Commercial
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	1,403	1,123
Total Current	263,089	245,001
Total Loans	264,492	246,124
Total 90 Days Past Due and Still Accruing	81	83
Commercial \| 30 to 59 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	1,142	883
Commercial \| 60 to 89 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	37	81
Commercial \| 90 Days or Greater
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	224	159
Consumer
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	4	11
Total Current	4,949	5,293
Total Loans	4,953	5,304
Total 90 Days Past Due and Still Accruing		1
Consumer \| 30 to 59 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due	$ 4	8
Consumer \| 60 to 89 Days
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due		2
Consumer \| 90 Days or Greater
Age analysis of past due loans, excluding purchased credit impaired loans, aggregated by class of loans
Total Past Due		$ 1

Loans and Allowance for Loan Losses - Imparied Loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Impaired Loans
Unpaid Contractual Principal Balance	$ 1,051	$ 2,379
Recorded Investment with No Allowance	866	2,011
Recorded Investment with Allowance	185	368
Total Recorded Investment	1,051	2,379
Related Allowance	47	193
Average Recorded Investment During Year	1,179	1,907
Construction and land
Impaired Loans
Average Recorded Investment During Year		10
1 - 4 family residential
Impaired Loans
Unpaid Contractual Principal Balance	350	353
Recorded Investment with No Allowance	350	353
Total Recorded Investment	350	353
Average Recorded Investment During Year	352	191
Nonfarm nonresidential
Impaired Loans
Unpaid Contractual Principal Balance	388	1,265
Recorded Investment with No Allowance	388	1,265
Total Recorded Investment	388	1,265
Average Recorded Investment During Year	604	1,146
Commercial
Impaired Loans
Unpaid Contractual Principal Balance	294	740
Recorded Investment with No Allowance	126	390
Recorded Investment with Allowance	168	350
Total Recorded Investment	294	740
Related Allowance	41	186
Average Recorded Investment During Year	202	533
Consumer
Impaired Loans
Unpaid Contractual Principal Balance	19	21
Recorded Investment with No Allowance	2	3
Recorded Investment with Allowance	17	18
Total Recorded Investment	19	21
Related Allowance	6	7
Average Recorded Investment During Year	$ 21	$ 27

Loans and Allowance for Loan Losses - Trouble Debt Restructuring (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($) item	Mar. 31, 2015 USD ($) item	Dec. 31, 2015 USD ($)
Troubled Debt Restructuring
Recorded investment in TDRs	$ 593		$ 1,727
Number of Loans \| item	0	1
Pre-Modification Outstanding Recorded Investment		$ 399
Post-Modification Outstanding Recorded Investment
Extended Maturity, Restructured Payments and Adjusted Interest Rate		$ 397
Nonfarm nonresidential
Troubled Debt Restructuring
Number of Loans \| item		1
Pre-Modification Outstanding Recorded Investment		$ 399
Post-Modification Outstanding Recorded Investment
Extended Maturity, Restructured Payments and Adjusted Interest Rate		$ 397

Loans and Allowance for Loan Losses - TDR's additional information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($) item	Mar. 31, 2015 loan item
Loans and Allowance for Loan Losses
Number of loans restructured performing as agreed to modified terms \| item		1
Number of loans modified as a troubled debt restructured loan within previous 12 months and for which there was a payment default	1	0
Charge-off of restructured loan with subsequent payment default \| $	$ 143

Loans and Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Apr. 01, 2016	Mar. 31, 2016	Dec. 31, 2015
Credit Quality Indicators
Loans		$ 885,415	$ 820,567
Pass
Credit Quality Indicators
Loans		869,965	816,303
Special Mention
Credit Quality Indicators
Loans		13,576	2,617
Substandard
Credit Quality Indicators
Loans		1,859	1,571
Doubtful
Credit Quality Indicators
Loans		15	76
Construction and land
Credit Quality Indicators
Loans		143,405	126,422
Construction and land \| Pass
Credit Quality Indicators
Loans		143,405	126,422
Farmland
Credit Quality Indicators
Loans		11,288	11,696
Farmland \| Pass
Credit Quality Indicators
Loans		11,288	11,696
1 - 4 family residential
Credit Quality Indicators
Loans		136,734	137,704
1 - 4 family residential \| Pass
Credit Quality Indicators
Loans		135,129	136,856
1 - 4 family residential \| Special Mention
Credit Quality Indicators
Loans		759
1 - 4 family residential \| Substandard
Credit Quality Indicators
Loans		846	848
Multi-family residential
Credit Quality Indicators
Loans		16,594	8,695
Multi-family residential \| Pass
Credit Quality Indicators
Loans		16,594	8,695
Nonfarm nonresidential
Credit Quality Indicators
Loans		307,949	284,622
Nonfarm nonresidential \| Pass
Credit Quality Indicators
Loans		307,185	282,404
Nonfarm nonresidential \| Special Mention
Credit Quality Indicators
Loans		764	2,043
Nonfarm nonresidential \| Substandard
Credit Quality Indicators
Loans			175
Commercial
Credit Quality Indicators
Loans		264,492	246,124
Commercial \| Pass
Credit Quality Indicators
Loans		251,430	244,948
Commercial \| Special Mention
Credit Quality Indicators
Loans		12,053	573
Commercial \| Special Mention \| Subsequent event
Credit Quality Indicators
Loans	$ (6,000)
Commercial \| Substandard
Credit Quality Indicators
Loans		994	527
Commercial \| Substandard \| Subsequent event
Credit Quality Indicators
Loans	$ 6,000
Commercial \| Doubtful
Credit Quality Indicators
Loans		15	76
Consumer
Credit Quality Indicators
Loans		4,953	5,304
Consumer \| Pass
Credit Quality Indicators
Loans		4,934	5,282
Consumer \| Special Mention
Credit Quality Indicators
Loans			1
Consumer \| Substandard
Credit Quality Indicators
Loans		$ 19	$ 21

Loans and Allowance for Loan Losses - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Analysis of allowance for loan losses
Balance at beginning of year	$ 6,772	$ 5,981	$ 5,981
Provision charged to earnings	845	110	868
Charge-offs	(249)	(102)	(140)
Recoveries	4	17	63
Net charge-offs	(245)	(85)	(77)
Balance at end of year	7,372	6,006	6,772
Specific Reserves:
Impaired loans				$ 48	$ 193	$ 123
Total specific reserves				48	193	123
General reserves				7,324	6,579	5,883
Total	6,772	5,981	5,981	$ 7,372	$ 6,772	$ 6,006
Allowance for loan losses (as a percent)				0.83%	0.83%	0.98%
Construction land and Farmland
Analysis of allowance for loan losses
Balance at beginning of year	1,104	769	769
Provision charged to earnings	191	137	383
Charge-offs		(48)	(48)
Net charge-offs		(48)	(48)
Balance at end of year	1,295	858	1,104
Specific Reserves:
General reserves				$ 1,295	$ 1,104	$ 858
Total	1,104	769	769	1,295	1,104	858
Residential
Analysis of allowance for loan losses
Balance at beginning of year	1,124	1,166	1,166
Provision charged to earnings	2	74	(42)
Balance at end of year	1,126	1,240	1,124
Specific Reserves:
General reserves				1,126	1,124	1,240
Total	1,124	1,166	1,166	1,126	1,124	1,240
Nonfarm nonresidential
Analysis of allowance for loan losses
Balance at beginning of year	2,189	1,890	1,890
Provision charged to earnings	296	(54)	294
Recoveries		5	5
Net charge-offs		5	5
Balance at end of year	2,485	1,841	2,189
Specific Reserves:
General reserves				2,485	2,189	1,841
Total	2,189	1,890	1,890	2,485	2,189	1,841
Commercial
Analysis of allowance for loan losses
Balance at beginning of year	2,324	2,092	2,092
Provision charged to earnings	351	(40)	262
Charge-offs	(240)	(50)	(87)
Recoveries	4	12	57
Net charge-offs	(236)	(38)	(30)
Balance at end of year	2,439	2,014	2,324
Specific Reserves:
Impaired loans				42	186	113
Total specific reserves				42	186	113
General reserves				2,397	2,138	1,901
Total	2,324	2,092	2,092	2,439	2,324	2,014
Consumer
Analysis of allowance for loan losses
Balance at beginning of year	31	64	64
Provision charged to earnings	5	(7)	(29)
Charge-offs	(9)	(4)	(5)
Recoveries			1
Net charge-offs	(9)	(4)	(4)
Balance at end of year	27	53	31
Specific Reserves:
Impaired loans				6	7	10
Total specific reserves				6	7	10
General reserves				21	24	43
Total	$ 31	$ 64	$ 64	$ 27	$ 31	$ 53

Loans and Allowance for Loan Losses - Allowance, Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Allowance, impairment methodology
Loans individually evaluated for impairment	$ 1,051	$ 2,379
Loans collectively evaluated for impairment	884,364	818,188
Total Loans	885,415	820,567
Construction land and Farmland
Allowance, impairment methodology
Loans collectively evaluated for impairment	154,693	138,118
Total Loans	154,693	138,118
Residential
Allowance, impairment methodology
Loans individually evaluated for impairment	350	353
Loans collectively evaluated for impairment	152,978	146,046
Total Loans	153,328	146,399
Nonfarm nonresidential
Allowance, impairment methodology
Loans individually evaluated for impairment	388	1,265
Loans collectively evaluated for impairment	307,561	283,357
Total Loans	307,949	284,622
Commercial
Allowance, impairment methodology
Loans individually evaluated for impairment	294	740
Loans collectively evaluated for impairment	264,198	245,384
Total Loans	264,492	246,124
Consumer
Allowance, impairment methodology
Loans individually evaluated for impairment	19	21
Loans collectively evaluated for impairment	4,934	5,283
Total Loans	$ 4,953	$ 5,304

Loans and Allowance for Loan Losses - Servicing Assets (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Jun. 30, 2015
Servicing asset				$ 0
Summary of changes in related servicing assets
Increase in valuation allowance	$ 0
Valuation allowance recorded	0
Proceeds from sale of loans	10,010,000	$ 16,674,000
Gain on sale of loans	662,000	$ 302,000
Interest receivable	2,252,000		$ 2,216,000
Interest-only strip
Summary of changes in related servicing assets
Interest receivable	0
IBT
Servicing asset	24,035,000
Summary of changes in related servicing assets
Balance at beginning of year	426,000
Increase from loan sales	57,000
Amortization charged to income	(19,000)
Balance at end of period	$ 464,000

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Components of Deferred Tax Assets and Liabilities [Abstract]
Estimated Annual Effective Tax Rate	34.1	32.6
Effective tax rate (as a percent)	33.70%	25.00%
Discrete tax credit related to non-qualified stock options		$ 186
Current tax receivable	$ 86
Net deferred tax asset			$ 1,532
Other assets.
Components of Deferred Tax Assets and Liabilities [Abstract]
Net deferred tax asset	$ 1,435
Interest Payable and Other Liabilities [Member]
Components of Deferred Tax Assets and Liabilities [Abstract]
Current tax liability			$ 488

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Leases
Rental expense on operating lease	$ 341	$ 363

Fair Value Disclosures - Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Assets measured at fair value
Investment securities available for sale	$ 79,146		$ 75,813
Recurring
Assets measured at fair value
Investment securities available for sale	79,146		75,813
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	$ 79,146		$ 75,813

Fair Value Disclosures - Non-recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets measured at fair value
Impaired loans, carrying value	$ 1,051	$ 2,379
Impaired loans, specific allowance	47	193
Non-recurring
Assets measured at fair value
Impaired loans	1,051	2,379
Liabilities measured at fair value	0	0
Non-recurring \| Level 3
Assets measured at fair value
Impaired loans	$ 1,051	$ 2,379

Fair Value Disclosures - Level 3 (Details) - Collateral Method - Level 3 - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Impaired loans
Significant unobservable inputs used in the fair value measurements
Fair Value	$ 1,051	$ 2,379
Weighted Average (as a percent)	8.00%	8.00%
Other real estate owned, net
Significant unobservable inputs used in the fair value measurements
Weighted Average (as a percent)	8.00%	8.00%

Fair Value Disclosures - Financial Instruments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Estimated fair values and carrying values of all financial instruments
Servicing Asset at Amortized Cost, Valuation Allowance	$ 0
Maximum maturity period for Federal Home Loan Bank advances recorded at carrying value	90 days
Financial assets:
Securities available for sale	$ 79,146,000	$ 75,813,000
Financial liabilities:
Junior subordinated debentures	3,093,000	3,093,000
Subordinated notes	4,983,000	4,983,000
Level 2 \| Carrying Amount
Financial assets:
Cash and cash equivalents	92,383,000	71,551,000
Securities available for sale	79,146,000	75,813,000
Loans held for sale	3,597,000	2,831,000
Accrued interest receivable	2,252,000	2,216,000
Bank-owned life insurance	19,614,000	19,459,000
Servicing asset	464,000	426,000
Non-marketable equity securities	5,541,000	4,167,000
Financial liabilities:
Deposits	946,058,000	868,410,000
Advances from FHLB	38,410,000	28,444,000
Accrued interest payable	95,000	108,000
Junior subordinated debentures	3,093,000	3,093,000
Subordinated notes	4,983,000	4,983,000
Level 2 \| Total Fair Value
Financial assets:
Cash and cash equivalents	92,383,000	71,551,000
Securities available for sale	79,146,000	75,813,000
Loans held for sale	3,597,000	2,831,000
Accrued interest receivable	2,252,000	2,216,000
Bank-owned life insurance	19,614,000	19,459,000
Servicing asset	464,000	426,000
Non-marketable equity securities	5,541,000	4,167,000
Financial liabilities:
Deposits	925,840,000	844,966,000
Advances from FHLB	38,706,000	28,826,000
Accrued interest payable	95,000	108,000
Junior subordinated debentures	3,093,000	3,093,000
Subordinated notes	4,983,000	4,983,000
Level 3 \| Carrying Amount
Financial assets:
Loans, net	877,978,000	813,733,000
Level 3 \| Total Fair Value
Financial assets:
Loans, net	$ 875,941,000	$ 811,455,000

Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financial instruments with off-balance sheet risk
Total commitments	$ 253,653	$ 238,628
Commitments to extend credit
Financial instruments with off-balance sheet risk
Total commitments	252,003	236,678
Standby and commercial letters of credit
Financial instruments with off-balance sheet risk
Total commitments	$ 1,650	$ 1,950

Employee Benefits (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
Employee Benefits (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jan. 31, 2014	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
ESOP
Matching contributions to 401(k) profit sharing Plan			$ 0	$ 0
Summary of ESOP shares
Allocated shares			35,047		35,047
Unearned shares			27,993		27,993
Total ESOP shares			63,040		63,040
Fair value of unearned shares			$ 407		$ 454
ESOP
ESOP
Amount borrowed		$ 500
Common stock shares purchased by ESOP		46,082
Issuance of stock to ESOP (in shares)	9,147
Compensation expense			$ 41	$ 45

Stock and Incentive Plan - 2010 Plan (Details) - 2010 Stock Option and Equity Incentive Plan - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2010
Stock and Incentive Plans
Number of shares authorized			1,000,000
Stock based compensation expense	$ 29	$ 21
Restricted shares
Stock and Incentive Plans
Number of shares authorized			100,000
Term of continuous service for vesting awards	4 years
Stock option
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
Stock and Incentive Plans
Number of shares authorized			500,000
Nonperformance-based stock options
Stock and Incentive Plans
Number of shares awarded under stock options

Stock and Incentive Plan - 2010 Plan - Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
2010 Stock Option and Equity Incentive Plan
Additional disclosures
Stock based compensation expense	$ 29	$ 21
Performance-based stock options \| 2010 Stock Option and Equity Incentive Plan
Additional disclosures
Aggregate intrinsic value of outstanding stock options (in dollars)	0	0	$ 0
Aggregate intrinsic value of exercisable stock options (in dollars)	0	$ 0	$ 0
Unrecognized compensation expense (in dollars)	$ 0
Nonperformance-based stock options
Weighted Average Contractual Term
Options exercisable at end of period	9 years 4 months 28 days
Nonperformance-based stock options \| 2010 Stock Option and Equity Incentive Plan
Shares Underlying Options activity
Outstanding at beginning of period (in shares)	325,500	352,500	352,500
Granted during the period (in shares)
Forfeited during the period (in shares)
Cancelled during the period (in shares)
Exercised during the period (in shares)
Outstanding at the end of period (in shares)	325,500	352,500	325,500	352,500
Options exercisable at end of period (in shares)	294,500	245,000
Activity in weighted exercise price
Outstanding at beginning of period (in dollars per share)	$ 10.15	$ 10.14	$ 10.14
Granted during the period (in dollars per share)
Forfeited during the period (in dollars per share)
Cancelled during the period (in dollars per share)
Exercised during the period (in dollars per share)
Outstanding at the end of period (in dollars per share)	10.15	10.14	$ 10.15	$ 10.14
Options exercisable at end of period (in dollars per share)	10.07	10.05
Weighted average fair value of options granted during the period (in dollars per share)
Weighted Average Contractual Term
Outstanding at beginning of period	5 years 3 months 22 days	6 years 3 months 29 days	5 years 6 months 22 days	6 years 6 months 29 days
Outstanding at the end of period	5 years 3 months 22 days	6 years 3 months 29 days	5 years 6 months 22 days	6 years 6 months 29 days
Options exercisable at end of period	5 years 1 month 21 days	6 years 1 month 6 days
Additional disclosures
Aggregate intrinsic value of outstanding stock options (in dollars)	$ 1,426	$ 1,350	$ 1,971
Aggregate intrinsic value of exercisable stock options (in dollars)	$ 1,313	960	1,462
Requisite service period to recognize compensation cost	1 year 11 months 12 days
Unrecognized compensation expense (in dollars)	$ 43	$ 186	$ 51

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, 2016	Mar. 31, 2015	Dec. 31, 2015
Activity in shares
Nonvested at the beginning of the period (in shares)	39,750	62,250
Vested (in shares)	(5,000)	(20,000)
Nonvested at the end of the period (in shares)	34,750	42,250
Activity in weighted average grant date fair value
Nonvested at the beginning of the period (in dollars per share)	$ 11.34	$ 10.86
Vested (in dollars per share)	10.00	10.00
Nonvested at the end of the period (in dollars per share)	$ 11.53	$ 11.30
Additional disclosures
Unrecognized compensation expense (in dollars)	$ 153	$ 258	$ 174
Requisite service period to recognize compensation cost	1 year 7 months 6 days

Stock and Incentive Plan - Omnibus Plan (Details) - Omnibus Plan - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock and Incentive Plans
Number of shares authorized	1,000,000
Vesting period		3 years
Restricted stock units
Stock and Incentive Plans
Number of shares awarded	54,930	25,474
Units granted to employees and directors		25,474
Restricted stock units \| Share-based Compensation Award, Tranche Three: Market condition based on the Company's total shareholder return relative to a market index
Stock and Incentive Plans
Number of shares awarded	34,190
Vesting period	3 years
Restricted stock units \| Share-based Compensation Award, Tranche Four: No market condition
Stock and Incentive Plans
Number of shares awarded	20,740
Restricted stock units \| Share-based Compensation Award, Tranche Five: No market condition, five annual installments
Stock and Incentive Plans
Number of shares awarded	8,000
Restricted stock units \| Share-based Compensation Award, Tranche Six: No market condition, quarterly installments
Stock and Incentive Plans
Number of shares awarded	9,240
Restricted stock units \| Share-based Compensation Award, Tranche Seven: No market condition, three annual installments
Stock and Incentive Plans
Number of shares awarded	3,500
Stock option
Stock and Incentive Plans
Number of shares awarded under stock options	71,286
Units granted to employees and directors		44,080
Stock option \| Share-based Compensation Award, Tranche One
Stock and Incentive Plans
Number of shares awarded	56,286
Vesting period	3 years
Stock option \| Share-based Compensation Award, Tranche Two
Stock and Incentive Plans
Vesting period	5 years

Stock and Incentive Plan - Omnibus Plan Black Scholes Assumptions- (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Assumptions used to measure fair value of each option award estimated on grant date using Black-Scholes option-pricing model
Expected volatility, minimum (as a percent)	35.23%
Omnibus Plan
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%	0.00%
Expected life		6 years
Expected volatility, maximum (as a percent)	37.55%
Expected volatility (as a percent)		37.00%
Risk-free interest rate, minimum (as a percent)	1.26%
Risk-free interest rate, maximum (as a percent)	2.01%
Risk-free interest rate (as a percent)		1.81%
Omnibus Plan \| Minimum
Assumptions used to measure fair value of each option award estimated on grant date using Black-Scholes option-pricing model
Expected life	5 years
Omnibus Plan \| Maximum
Assumptions used to measure fair value of each option award estimated on grant date using Black-Scholes option-pricing model
Expected life	6 years 6 months

Stock and Incentive Plan - Omnibus Plan - Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Nonperformance-based stock options
Weighted Average Contractual Term
Options exercisable at end of period	9 years 4 months 28 days
Omnibus Plan \| Stock option
Shares Underlying Options activity
Granted during the period (in shares)	71,286
Omnibus Plan \| Nonperformance-based stock options
Shares Underlying Options activity
Outstanding at beginning of period (in shares)	52,080
Granted during the period (in shares)	71,286	44,080
Outstanding at the end of period (in shares)	123,366	44,080	52,080
Options exercisable at end of period (in shares)	14,693
Activity in weighted exercise price
Outstanding at beginning of period (in dollars per share)	$ 14.35
Granted during the period (in dollars per share)	15.88	$ 14.17
Outstanding at the end of period (in dollars per share)	15.23	14.17	$ 14.35
Options exercisable at end of period (in dollars per share)	14.17
Weighted average fair value of options granted during the period (in dollars per share)	$ 6.09	$ 5.46
Weighted Average Contractual Term
Outstanding at beginning of period	9 years 1 month 13 days	9 years 9 months 4 days
Outstanding at the end of period	9 years 1 month 13 days	9 years 9 months 4 days
Options exercisable at end of period	8 years 9 months 4 days
Additional disclosures
Aggregate intrinsic value of outstanding stock options (in dollars)	$ 0	$ 0	$ 97

Stock and Incentive Plan - Omnibus Plan - Restricted Stock Units (Details) - Omnibus Plan - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Restricted stock units
Activity in shares
Nonvested at the beginning of the period (in shares)	96,393	82,903
Granted (in shares)	54,930	25,474
Vested (in shares)	(10,777)
Nonvested at the end of the period (in shares)	140,546	108,377
Activity in weighted average grant date fair value
Nonvested at the beginning of the period (in dollars per share)	$ 13.00	$ 13.00
Granted (in dollars per share)	11.82	9.45
Vested (in dollars per share)	14.61
Nonvested at the end of the period (in dollars per share)	$ 12.42	$ 13.28
Additional disclosures
Stock based compensation expense	$ 144	$ 69
Unrecognized compensation expense (in dollars)	$ 1,485	1,072	$ 979
Requisite service period to recognize compensation cost	3 years 2 months 9 days
Stock option
Additional disclosures
Stock based compensation expense	$ 51	18
Unrecognized compensation expense (in dollars)	$ 560	$ 201	$ 187
Requisite service period to recognize compensation cost	2 years 10 months 28 days

Preferred Stock (Details) - SBLF Preferred Stock $ / shares in Units, $ in Thousands	Dec. 22, 2015 USD ($) $ / shares shares	Aug. 25, 2011 USD ($) item shares
Preferred Stock
Number of quarters during which dividend rate fluctuates \| item		10
Redemption price as a percentage of liquidation amount plus accrued but unpaid dividends	100.00%
Liquidation amount (in dollars per share) \| $ / shares	$ 1,000
Shares redeemed \| shares	8,000
Payments for redemption of preferred stock \| $	$ 8,018
SBLF Purchase Agreement \| Initial dividend period
Preferred Stock
Dividend rate (as a percent)		1.00%
SBLF Purchase Agreement \| 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 \| 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 ($)		1 Months Ended
	Jan. 01, 2019	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Capital Requirements and Restrictions on Retained Earnings
Capital conservation buffer					0.625%
Total capital (to risk weighted assets)
Actual Amount						$ 122,332,000	$ 119,208,000
Actual Ratio (as a percent)						13.38%	14.25%
For Capital Adequacy Purposes Amount						$ 73,143,000	$ 66,924,000
For Capital Adequacy Purposes Ratio (as a percent)						8.00%	8.00%
Tier 1 capital (to risk weighted assets)
Actual Amount						$ 109,976,000	$ 107,453,000
Actual Ratio (as a percent)						12.03%	12.85%
For Capital Adequacy Purposes Amount						$ 54,851,000	$ 50,173,000
For Capital Adequacy Purposes Ratio (as a percent)						6.00%	6.00%
Common equity tier 1 to risk weighted assets
Actual Amount						$ 106,883,000	$ 104,360,000
Actual Ratio (as a percent)						11.69	12.48
For Capital Adequacy Purposes Amount						$ 41,144,000	$ 37,630,000
For Capital Adequacy Purposes Amount (as a percent)						4.50%	4.50%
Tier 1 capital (to average assets)
Actual Amount						$ 109,976,000	$ 107,453,000
Actual Ratio (as a percent)						10.38%	10.75%
For Capital Adequacy Purposes Amount						$ 42,380,000	$ 39,983,000
For Capital Adequacy Purposes Ratio (as a percent)						4.00%	4.00%
Scenario, Forecast [Member]
Capital Requirements and Restrictions on Retained Earnings
Capital conservation buffer yearly increase		0.625%	0.625%	0.625%
Capital conservation buffer desired rate	2.50%
Bank
Total capital (to risk weighted assets)
Actual Amount						$ 107,771,000	$ 104,427,000
Actual Ratio (as a percent)						11.76%	12.49%
For Capital Adequacy Purposes Amount						$ 73,314,000	$ 66,887,000
For Capital Adequacy Purposes Ratio (as a percent)						8.00%	8.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount						$ 91,642,000	$ 83,608,000
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						$ 100,399,000	$ 97,655,000
Actual Ratio (as a percent)						10.95%	11.68%
For Capital Adequacy Purposes Amount						$ 55,013,000	$ 50,165,000
For Capital Adequacy Purposes Ratio (as a percent)						6.00%	6.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount						$ 73,351,000	$ 66,887,000
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)						8.00%	8.00%
Common equity tier 1 to risk weighted assets
Actual Amount						$ 100,399,000	$ 97,655,000
Actual Ratio (as a percent)						10.95	11.68
For Capital Adequacy Purposes Amount						$ 41,260,000	$ 37,624,000
For Capital Adequacy Purposes Amount (as a percent)						4.50%	4.50%
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount						$ 59,598,000	$ 54,346,000
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)						6.5	6.5
Tier 1 capital (to average assets)
Actual Amount						$ 100,399,000	$ 97,655,000
Actual Ratio (as a percent)						9.48%	9.78%
For Capital Adequacy Purposes Amount						$ 42,362,000	$ 39,941,000
For Capital Adequacy Purposes Ratio (as a percent)						4.00%	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount						$ 52,953,000	$ 49,926,000
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio (as a percent)						5.00%	5.00%