First Community Bancshares, Inc. Announces Record Second Quarter 2018 Results and Increased Quarterly Dividend

Company Release - 7/24/2018 4:00 PM ET

BLUEFIELD, Va., July 24, 2018 (GLOBE NEWSWIRE) -- First Community Bancshares, Inc. (NASDAQ:FCBC) (www.firstcommunitybank.com) (the “Company”) today reported its unaudited results of operations and other financial information for the quarter and six months ended June 30, 2018. The Company reported net income of $9.07 million, or $0.54 per diluted common share, for the quarter ended June 30, 2018, which represents a 42.11% increase in per share diluted earnings compared to the same quarter of 2017. Net income was $17.93 million, or $1.06 per diluted common share, for the six months ended June 30, 2018, which represents a 43.24% increase in per share diluted earnings compared to the same period of 2017.

The Company also announced today that the Board of Directors declared a quarterly cash dividend to common shareholders of  twenty-one cents ($0.21) per common share, an increase of 16.67% over the $0.18 dividend paid last quarter. The quarterly dividend is payable to common shareholders of record on August 3, 2018, and is expected to be paid on or about August 17, 2018. The current year marks the 33rd consecutive year of regular cash dividends paid to shareholders.

Second Quarter 2018 Highlights

  • Income Statement
    • Pre-tax income increased $2.19 million, or 23.34%, to $11.57 million and net income increased $2.65 million, or 41.26%, to $9.07 million compared to the same quarter of 2017.
    • Diluted earnings per share increased $0.16, or 42.11%, to $0.54 and core diluted earnings per share increased $0.17, or 44.74%, to $0.55 compared to the same quarter of 2017.
    • Return on average assets improved 45 basis points to 1.53% and return on average equity improved 327 basis points to 10.68% compared to the same quarter of 2017.
    • The GAAP efficiency ratio improved 349 basis points to 58.81% and the non-GAAP efficiency ratio improved 470 basis points to 54.25% compared to the same quarter of 2017.
    • Net interest margin decreased 3 basis points to 4.16%, while the normalized net interest margin increased 5 basis points to 4.04% compared to the same quarter of 2017.
       
  • Balance Sheet
    • The Company repurchased 286,940 common shares during the quarter. Year to date, the Company has repurchased 474,240 common shares for $14.72 million compared to 10,602 shares during the same period of 2017.
    • The Company and its subsidiary bank both significantly exceed regulatory “well capitalized” targets as of June 30, 2018.

Non-GAAP Financial Measures

The Company prepares its financial statements in accordance with GAAP. This press release also refers to certain non-GAAP financial measures that the Company believes provide investors with important information, when used in conjunction with results presented in accordance with GAAP, regarding its operational performance. The Company’s non-GAAP financial measures presented in this release include core earnings, the efficiency ratio, tangible book value per common share, average tangible common equity, and normalized net interest margin. Management believes that core earnings provide the Company and investors a valuable tool to evaluate the Company’s financial results. Management believes that the efficiency ratio provides important information about the Company’s operating expense control and efficiency of operations. Management also believes this ratio focuses attention on the core operating performance of the Company over time and is highly useful in comparing period-to-period operating performance of core business operations. The efficiency ratio used by the Company may not be comparable to efficiency ratios reported by other financial institutions. The reconciliations of these measures to GAAP measures are provided within this news release.

About First Community Bancshares, Inc.

First Community Bancshares, Inc., a financial holding company headquartered in Bluefield, Virginia, provides banking products and services through its wholly owned subsidiary First Community Bank. First Community Bank operated 44 branch banking locations in Virginia, West Virginia, North Carolina, and Tennessee as of June 30, 2018. First Community Bank provides insurance services through First Community Insurance Services, which operates in-branch locations in Virginia and West Virginia and offers wealth management and investment advice through its Trust Division and First Community Wealth Management, which collectively managed $969 million in combined assets as of June 30, 2018. The Company reported consolidated assets of $2.35 billion as of June 30, 2018. The Company’s common stock is listed on the NASDAQ Global Select Market under the trading symbol, “FCBC”. Additional investor information is available on the Company’s website at www.firstcommunitybank.com.

This news release may include forward-looking statements. These forward-looking statements are based on current expectations that involve risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may differ materially. These risks include: changes in business or other market conditions; the timely development, production and acceptance of new products and services; the challenge of managing asset/liability levels; the management of credit risk and interest rate risk; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company’s Securities and Exchange Commission reports including, but not limited to, the Annual Report on Form 10-K for the most recent fiscal year end. Pursuant to the Private Securities Litigation Reform Act of 1995, the Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Financial Performance

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) 
                 
   Three Months Ended Six Months Ended 
   June 30, March 31, December 31, September 30, June 30, June 30, 
(Amounts in thousands, except share and per share data) 2018   2018   2017   2017   2017   2018   2017  
Interest income               
 Interest and fees on loans$  22,422  $  22,755  $  22,314  $  22,694  $  22,914  $  45,177  $  44,741  
 Interest on securities   1,361     1,104     1,095     1,080     1,170     2,465     2,376  
 Interest on deposits in banks   514     471     353     275     221     985     380  
Total interest income    24,297    -   24,330    -   23,762    -   24,049    -   24,305    -    48,627   -    47,497  
Interest expense               
 Interest on deposits   1,327     1,251     1,313     1,275     1,233     2,578     2,399  
 Interest on borrowings   708     700     716     724     778     1,408     1,663  
Total interest expense    2,035    -   1,951    -   2,029    -   1,999    -   2,011    -    3,986   -    4,062  
Net interest income    22,262    -   22,379    -   21,733    -   22,050    -   22,294    -    44,641   -    43,435  
Provision for loan losses   495     495     615     730     934     990     1,426  
Net interest income after provision   21,767    -   21,884    -   21,118    -   21,320    -   21,360    -    43,651   -    42,009  
Noninterest income     7,016     6,611     7,498     6,703     5,055     13,627     10,367  
Noninterest expense    17,217     17,059     16,683     16,477     17,038     34,276     33,742  
Income before income taxes   11,566    -   11,436    -   11,933    -   11,546    -   9,377    -    23,002   -   18,634  
Income tax expense    2,500     2,568     10,720     3,894     2,959     5,068     6,014  
Net income $  9,066 $  - $  8,868 $  - $  1,213 $  - $  7,652 $  - $  6,418 $  - $  17,934   -$  12,620  
                 
Earnings per common share              
 Basic $  0.54  $  0.52  $  0.07  $  0.45  $  0.38  $  1.06  $  0.74  
 Diluted    0.54     0.52     0.07     0.45     0.38     1.06     0.74  
Cash dividends per common share   0.18     0.66     0.18     0.16     0.16     0.84     0.32  
Weighted average shares outstanding             
 Basic    16,689,398     16,955,758     16,992,519     17,005,654     17,012,189     16,821,842     17,005,196  
 Diluted    16,788,615     17,047,638     17,083,949     17,082,729     17,082,832     16,912,872     17,075,961  
Performance ratios               
 Return on average assets 1.53%  1.52%  0.20%  1.29%  1.08%  1.53%  1.07% 
 Return on average common equity 10.68%  10.30%  1.35%  8.61%  7.41%  10.49%  7.38% 
 Return on average tangible common equity(1) 15.21%  14.53%  1.89%  12.13%  10.51%  14.87%  10.51% 
                 
(1) A non-GAAP financial measure defined as average stockholders’ equity less average goodwill and other intangibles 
                 


RECONCILIATION OF GAAP NET INCOME TO CORE EARNINGS (Unaudited) 
                 
   Three Months Ended Six Months Ended 
   June 30, March 31, December 31, September 30, June 30, June 30, 
    2018   2018   2017   2017   2017   2018   2017  
(Amounts in thousands, except per share data)             
Net income, GAAP $  9,066  $  8,868  $  1,213  $  7,652  $  6,418  $  17,934  $  12,620  
Non-GAAP adjustments:              
 Net loss on sale of securities   -     -     4     -     657     -     657  
 Deferred tax asset revaluation   -     -     6,552     -     -     -     -  
 Other non-core items   297     (130)    (140)    34     (174)    167     (192) 
Total adjustments to core earnings   297     (130)    6,416     34     483     167     465  
Tax effect      71   -   (24)  -   (50)  -   12   -   345     72   -   338  
Core earnings, non-GAAP(1)$  9,292  $  8,762  $  7,679  $  7,674  $  6,556  $  18,029  $  12,747  
                 
Core diluted earnings per common share$  0.55  $  0.51  $  0.45  $  0.45  $  0.38  $  1.07  $  0.74  
Performance ratios               
 Core return on average assets 1.57%  1.50%  1.28%  1.29%  1.11%  1.53%  1.08% 
 Core return on average common equity 10.94%  10.17%  8.56%  8.63%  7.57%  10.54%  7.45% 
 Core return on average tangible common equity(2) 15.59%  14.36%  11.99%  12.16%  10.74%  14.95%  10.61% 
                 
(1) Excludes gains, losses, and impairment losses on securities; goodwill and intangible impairment; taxes; and other non-recurring income and expense items from net income 
(2) A non-GAAP financial measure defined as average stockholders’ equity less average goodwill and other intangibles 
                 

Net Interest Income and Margin

AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)
               
   Three Months Ended June 30, 
    2018   2017  
   Average    Average Yield/ Average    Average Yield/ 
(Amounts in thousands) Balance Interest(1) Rate(1) Balance Interest(2) Rate(2) 
Assets              
Earning assets             
 Loans(3) $  1,795,094 $  22,495 5.03% $  1,843,441 $  22,986 5.00% 
 Securities available for sale   190,605    1,641 3.45%    167,869    1,455 3.48% 
 Securities held to maturity   25,098    104 1.66%    34,664    125 1.45% 
 Interest-bearing deposits   109,349    514 1.89%    68,455    221 1.29% 
Total earning assets    2,120,146    24,754 4.68%    2,114,429    24,787 4.70% 
Other assets     252,843        263,767     
Total assets $  2,372,989     $  2,378,196     
               
Liabilities and stockholders' equity            
Interest-bearing deposits            
 Demand deposits $  484,776 $  104 0.09% $  387,113 $  60 0.06% 
 Savings deposits    518,055    83 0.06%    525,808    85 0.06% 
 Time deposits   477,691    1,140 0.96%    514,527    1,088 0.85% 
Total interest-bearing deposits   1,480,522    1,327 0.36%    1,427,448    1,233 0.35% 
Borrowings             
 Federal funds purchased   -    - -     5    - 0.00% 
 Retail repurchase agreements   3,615    1 0.11%    60,809    10 0.07% 
 Wholesale repurchase agreements   25,000    201 3.22%    25,000    201 3.22% 
 FHLB advances and other borrowings   50,000    506 4.06%    55,635    567 4.09% 
Total borrowings    78,615    708 3.61%    141,449    778 2.21% 
Total interest-bearing liabilities   1,559,137    2,035 0.52%    1,568,897    2,011 0.51% 
Noninterest-bearing demand deposits   447,048        441,547     
Other liabilities    26,222        20,197     
Total liabilities    2,032,407        2,030,641     
Stockholders' equity    340,582        347,555     
Total liabilities and stockholders' equity$  2,372,989     $  2,378,196     
Net interest income, FTE  $  22,719     $  22,776   
Net interest rate spread    4.16%     4.19% 
Net interest margin     4.30%     4.32% 
               
(1) Fully taxable equivalent ("FTE") basis based on the federal statutory rate of 21% 
(2) FTE basis based on the federal statutory rate of 35% 
(3) Nonaccrual loans are included in average balances; however, no related interest income is recorded during the period of nonaccrual. 
 


AVERAGE BALANCE SHEETS AND NET INTEREST INCOME ANALYSIS (Unaudited)
               
   Six Months Ended June 30, 
    2018   2017  
   Average    Average Yield/ Average    Average Yield/ 
(Amounts in thousands) Balance Interest(1) Rate(1) Balance Interest(2) Rate(2) 
Assets              
Earning assets             
 Loans(3) $  1,800,438 $  45,322 5.08% $  1,841,152 $  44,880 4.92% 
 Securities available for sale   177,897    3,025 3.43%    164,820    2,939 3.60% 
 Securities held to maturity   25,115    209 1.68%    40,854    276 1.36% 
 Interest-bearing deposits   113,627    985 1.75%    62,140    380 1.23% 
Total earning assets    2,117,077    49,541 4.72%    2,108,966    48,475 4.64% 
Other assets     252,592        267,163     
Total assets $  2,369,669     $  2,376,129     
               
Liabilities and stockholders' equity            
Interest-bearing deposits            
 Demand deposits $  473,819 $  167 0.07% $  384,098 $  114 0.06% 
 Savings deposits    518,306    165 0.06%    525,691    169 0.06% 
 Time deposits   485,574    2,246 0.93%    515,014    2,116 0.83% 
Total interest-bearing deposits   1,477,699    2,578 0.35%    1,424,803    2,399 0.34% 
Borrowings             
 Federal funds purchased   -    - -     3    - 0.00% 
 Retail repurchase agreements   4,031    2 0.10%    63,861    21 0.07% 
 Wholesale repurchase agreements   25,000    400 3.23%    25,000    399 3.22% 
 FHLB advances and other borrowings   50,000    1,006 4.06%    61,096    1,243 4.10% 
Total borrowings    79,031    1,408 3.59%    149,960    1,663 2.24% 
Total interest-bearing liabilities   1,556,730    3,986 0.52%    1,574,763    4,062 0.52% 
Noninterest-bearing demand deposits   439,867        433,588     
Other liabilities    28,168        22,822     
Total liabilities    2,024,765        2,031,173     
Stockholders' equity    344,904        344,956     
Total liabilities and stockholders' equity$  2,369,669     $  2,376,129     
Net interest income, FTE  $  45,555     $  44,413   
Net interest rate spread    4.20%     4.12% 
Net interest margin     4.34%     4.25% 
               
(1) FTE basis based on the federal statutory rate of 21% 
(2) FTE basis based on the federal statutory rate of 35% 
(3) Nonaccrual loans are included in average balances; however, no related interest income is recorded during the period of nonaccrual. 
 


RECONCILIATION OF GAAP NET INTEREST MARGIN TO NON-GAAP NORMALIZED NET INTEREST MARGIN (Unaudited)    
            
   Three Months Ended June 30,  
    2018   2017   
(Amounts in thousands) Interest(1) Average Yield/
Rate
(1) 
 Interest(2) Average Yield/
Rate
(2) 
  
Earning assets          
Loans(3)  $  22,495 5.03% $  22,986 5.00%  
 Accretion income   1,827      2,534    
 Less: cash accretion income   468      788    
 Non-cash accretion income   1,359      1,746    
Loans, normalized(4)    21,136 4.72%    21,240 4.62%  
Other earning assets    2,259 2.79%    1,801 2.67%  
Total earning assets    23,395 4.43%    23,041 4.37%  
Total interest-bearing liabilities   2,035 0.52%    2,011 0.51%  
Net interest income, FTE(4)$  21,360   $  21,030    
Net interest rate spread, normalized(4)  3.90%   3.86%  
Net interest margin, normalized(4)  4.04%   3.99%    
              
(1) FTE basis based on the federal statutory rate of 21%
(2) FTE basis based on the federal statutory rate of 35%
(3) Nonaccrual loans are included in average balances; however, no related interest income is recorded during the period of nonaccrual.
(4) Normalized totals are non-GAAP financial measures that exclude non-cash loan interest accretion related to PCI loans.    
              
   Six Months Ended June 30,    
    2018   2017     
(Amounts in thousands) Interest(1) Average Yield/
Rate
(1) 
 Interest(2) Average Yield/
Rate
(2) 
    
Earning assets            
Loans(3)  $  45,322 5.08% $  44,880 4.92%    
 Accretion income   4,151      4,318      
 Less: cash accretion income   947      1,438      
 Non-cash accretion income   3,204      2,880      
Loans, normalized(4)    42,118 4.72%    42,000 4.60%    
Other earning assets    4,219 2.69%    3,595 2.71%    
Total earning assets    46,337 4.41%    45,595 4.36%    
Total interest-bearing liabilities   3,986 0.52%    4,062 0.52%    
Net interest income, FTE(4)$  42,351   $  41,533      
Net interest rate spread, normalized(4)  3.90%   3.84%    
Net interest margin, normalized(4)  4.03%   3.97%    
              
(1) FTE basis based on the federal statutory rate of 21%
(2) FTE basis based on the federal statutory rate of 35%
(3) Nonaccrual loans are included in average balances; however, no related interest income is recorded during the period of nonaccrual.
(4) Normalized totals are non-GAAP financial measures that exclude non-cash loan interest accretion related to PCI loans.    
              

Noninterest Income and Expense

CONDENSED QUARTERLY STATEMENTS OF INCOME (Unaudited) 
                
  Three Months Ended Six Months Ended 
  June 30, March 31, December 31, September 30, June 30, June 30, 
(Amounts in thousands) 2018   2018   2017   2017   2017   2018   2017  
Noninterest income              
 Wealth management$  823  $  794  $  811  $  758  $  791  $  1,617  $  1,581  
 Service charges on deposits   3,612     3,468     3,725     3,605     3,360     7,080     6,473  
 Other service charges and fees   1,991     1,800     1,788     1,709     1,748     3,791     3,447  
 Insurance commissions   338     329     343     306     325     667     698  
 Net loss on sale of securities   -     -     (4)    -     (657)    -     (657) 
 Net FDIC indemnification asset amortization   (575)    (382)    (331)    (268)    (1,586)    (957)    (2,918) 
 Other operating income   827     602     1,166     593     1,074     1,429     1,743  
Total noninterest income    7,016     6,611     7,498     6,703     5,055     13,627     10,367  
Noninterest expense              
 Salaries and employee benefits   8,993     9,441     9,003     9,001     9,022     18,434     17,770  
 Occupancy expense   1,083     1,250     1,104     1,082     1,341     2,333     2,589  
 Furniture and equipment expense   945     1,046     1,114     1,133     1,087     1,991     2,178  
 Service fees   851     828     703     705     1,095     1,679     1,940  
 Advertising and public relations   461     522     506     551     544     983     1,149  
 Professional fees   430     307     589     339     817     737     1,639  
 Amortization of intangibles   263     261     266     266     263     524     524  
 FDIC premiums and assessments   252     211     212     227     227     463     471  
 Other operating expense   3,939     3,193     3,186     3,173     2,642     7,132     5,482  
Total noninterest expense   17,217     17,059     16,683     16,477     17,038     34,276     33,742  
                

Efficiency Ratio

EFFICIENCY RATIO CALCULATION (Unaudited) 
                 
   Three Months Ended Six Months Ended 
   June 30, March 31, December 31, September 30, June 30, June 30, 
    2018   2018   2017   2017   2017   2018   2017  
(Amounts in thousands)               
Noninterest expense, GAAP$  17,217  $  17,059  $  16,683  $  16,477  $  17,038  $  34,276  $  33,742  
Non-GAAP adjustments              
 OREO expense and net loss   (742)    (171)    (14)    (647)    (213)    (913)    (541) 
 Other non-core items   (400)    -     -     (64)    (327)    (400)    (327) 
Adjusted noninterest expense   16,075     16,888     16,669     15,766     16,498     32,963     32,874  
                 
Net interest income, GAAP   22,262     22,379     21,733     22,050     22,294     44,641     43,435  
Noninterest income, GAAP   7,016     6,611     7,498     6,703     5,055     13,627     10,367  
Non-GAAP adjustments              
 Tax equivalency adjustment   457     457     466     470     481     914     978  
 Net loss on sale of securities   -     -     4     -     657     -     657  
 Other non-core items   (103)    (130)    (140)    (30)    (501)    (233)    (519) 
Adjusted net interest and noninterest income   29,632     29,317     29,561     29,193     27,986     58,949     54,918  
                 
Non-GAAP efficiency ratio(1) 54.25%  57.60%  56.39%  54.01%  58.95%  55.92%  59.86% 
GAAP efficiency ratio  58.81%  58.84%  57.07%  57.31%  62.30%  58.82%  62.72% 
                 
(1) A non-GAAP financial measure computed by dividing adjusted noninterest expense by the sum of tax equivalent net interest income and adjusted noninterest income 
                 

Balance Sheet and Capital

CONDENSED CONSOLIDATED QUARTERLY BALANCE SHEETS (Unaudited)
            
   June 30, March 31, December 31, September 30, June 30,
(Amounts in thousands, except per share data) 2018   2018   2017   2017   2017 
Assets           
Cash and cash equivalents$  107,957  $  205,140  $  157,951  $  105,119  $  106,799 
Debt securities available for sale    196,425     164,192     165,580     174,424     157,854 
Debt securities held to maturity    25,082     25,115     25,149     25,182     25,216 
Loans held for sale    -     -     -     -     - 
Loans held for investment, net of unearned income        
 Non-covered   1,776,112     1,767,703     1,789,236     1,806,434     1,796,263 
 Covered    22,919     25,406     27,948     31,287     45,845 
 Allowance for loan losses   (19,583)    (19,500)    (19,276)    (19,206)    (18,886)
Loans held for investment, net   1,779,448     1,773,609     1,797,908     1,818,515     1,823,222 
FDIC indemnification asset   6,390     6,884     7,161     7,465     8,159 
Premises and equipment, net   45,547     46,415     48,126     48,949     49,598 
Other real estate owned, non-covered   4,805     4,620     2,409     3,543     3,914 
Other real estate owned, covered   44     70     105     54     124 
Interest receivable    5,580     5,155     5,778     5,156     5,072 
Goodwill     95,779     95,779     95,779     95,779     95,779 
Other intangible assets    5,628     5,891     6,151     6,417     6,683 
Other assets    75,435     95,437     76,363     84,177     84,183 
Total assets $  2,348,120  $  2,428,307  $  2,388,460  $  2,374,780  $  2,366,603 
            
Liabilities           
Deposits           
 Noninterest-bearing$  462,851  $  460,478  $  454,143  $  452,940  $  443,800 
 Interest-bearing   1,441,887     1,520,141     1,475,748     1,410,880     1,413,574 
Total deposits    1,904,738     1,980,619     1,929,891     1,863,820     1,857,374 
Federal funds purchased   -     -     -     -     - 
Securities sold under agreements to repurchase   27,869     29,115     30,086     83,783     86,011 
FHLB borrowings    50,000     50,000     50,000     50,000     50,000 
Other borrowings    -     -     -     -     - 
Interest, taxes, and other liabilities   26,392     26,536     27,769     24,540     24,443 
Total liabilities    2,008,999   -   2,086,270   -   2,037,746   -   2,022,143   -   2,017,828 
            
Stockholders' equity          
Preferred stock    -     -     -     -     - 
Common stock    21,382     21,382     21,382     21,382     21,382 
Additional paid-in capital   228,949     228,774     228,750     228,510     228,326 
Retained earnings    184,279     178,227     180,543     182,145     177,556 
Treasury stock, at cost    (92,904)    (83,865)    (79,121)    (79,333)    (78,488)
Accumulated other comprehensive loss   (2,585)    (2,481)    (840)    (67)    (1)
Total stockholders' equity   339,121     342,037     350,714     352,637     348,775 
Total liabilities and stockholders' equity$  2,348,120  $  2,428,307  $  2,388,460  $  2,374,780  $  2,366,603 
            
Shares outstanding at period-end   16,574,347     16,847,452     16,998,226     16,986,502     17,017,071 
Book value per common share$  20.46  $  20.30  $  20.63  $  20.76  $  20.50 
Tangible book value per common share(1)   14.34     14.27     14.64     14.74     14.47 
            
(1) A non-GAAP financial measure defined as stockholders’ equity less goodwill and other intangibles, divided by common shares outstanding
            

Asset Quality

SELECTED CREDIT QUALITY INFORMATION (Unaudited)
            
   June 30, March 31, December 31, September 30, June 30,
(Amounts in thousands)  2018   2018   2017   2017   2017 
Allowance for Loan Losses          
Beginning balance $  19,500  $  19,276  $  19,206  $  18,886  $  18,458 
Provision for loan losses charged to operations   495     495     615     730     934 
Charge-offs    (750)    (698)    (967)    (717)    (902)
Recoveries     338     427     422     307     396 
Net charge-offs    (412)    (271)    (545)    (410)    (506)
Ending balance $  19,583  $  19,500  $  19,276  $  19,206  $  18,886 
            
Nonperforming Assets         
Non-covered nonperforming assets         
Nonaccrual loans  $  21,467  $  21,650  $  18,997  $  18,942  $  20,146 
Accruing loans past due 90 days or more   -     27     1     -     - 
Troubled debt restructurings ("TDRs")(1)   133     77