Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 1-May-14 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'DCB FINANCIAL CORP | ' |
Entity Central Index Key | '0001025877 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'DCBF | ' |
Entity Common Stock, Shares Outstanding | ' | 7,192,350 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Document Fiscal Year Focus | '2014 | ' |
CONSOLIDATED_STATEMENTS_OF_CON
CONSOLIDATED STATEMENTS OF CONDITION (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from financial institutions | $7,309 | $6,110 |
Interest-bearing deposits | 18,176 | 19,247 |
Total cash and cash equivalents | 25,485 | 25,357 |
Securities available-for-sale | 78,454 | 79,948 |
Loans | 352,246 | 356,048 |
Less allowance for loan losses | -5,345 | -6,724 |
Net loans | 346,901 | 349,324 |
Loans held for sale | 2,213 | 7,806 |
Real estate owned | 1,563 | 1,219 |
Investment in FHLB stock | 3,250 | 3,799 |
Premises and equipment, net | 10,407 | 10,641 |
Premises and equipment held for sale | 0 | 1,405 |
Bank-owned life insurance | 19,535 | 19,297 |
Accrued interest receivable and other assets | 6,326 | 3,623 |
Total assets | 494,134 | 502,419 |
Liabilities: | ' | ' |
Non-interest bearing | 104,615 | 109,622 |
Interest bearing | 335,182 | 317,237 |
Total deposits | 439,797 | 426,859 |
Deposits held for sale | 0 | 22,571 |
Federal Home Loan Bank advances | 4,831 | 4,838 |
Accrued interest payable and other liabilities | 3,109 | 2,887 |
Total liabilities | 447,737 | 457,155 |
Stockholders' equity: | ' | ' |
Common stock, no pm value 7,500,000 shares authorized and issued at March 31, 2014 and December 31, 2013 | 15,771 | 15,771 |
Retained earnings | 37,800 | 37,683 |
Treasury stock, at cost, 307,650 shares at March 31, 2014 and December 31, 2013 | -7,416 | -7,416 |
Accumulated other comprehensive income (loss) | 242 | -774 |
Total stockholders' equity | 46,397 | 45,264 |
Total liabilities and stockholders' equity | $494,134 | $502,419 |
Common shares outstanding | 7,192,350 | 7,192,350 |
Book value per common share | $6.45 | $6.29 |
CONSOLIDATED_STATEMENTS_OF_CON1
CONSOLIDATED STATEMENTS OF CONDITION [Parenthetical] | Mar. 31, 2014 | Dec. 31, 2013 |
Common stock, shares authorized | 7,500,000 | 7,500,000 |
Common stock, shares issued | 7,500,000 | 7,500,000 |
Treasury stock, shares | 307,650 | 307,650 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest income: | ' | ' |
Loans | $3,738 | $3,551 |
Securities | 553 | 566 |
Federal funds sold and interest bearing deposits | 13 | 29 |
Total interest income | 4,304 | 4,146 |
Interest expense: | ' | ' |
Savings and money market accounts | 131 | 101 |
Time accounts | 128 | 324 |
NOW accounts | 21 | 26 |
Total | 280 | 451 |
FHLB advances | 36 | 79 |
Total interest expense | 316 | 530 |
Net interest income | 3,988 | 3,616 |
Provision for loan losses | 0 | -650 |
Net interest income after provision for loan losses | 3,988 | 4,266 |
Non-interest income: | ' | ' |
Service charges | 511 | 547 |
Wealth management fees | 293 | 316 |
Treasury management fees | 56 | 62 |
Income from bank-owned life insurance | 239 | 240 |
Loss on loans held for sale | -245 | 0 |
Gain on the sale of REO | 0 | 84 |
Loss on sale of securities available-for-sale | -140 | 0 |
Gain on sale of branch | 438 | 0 |
Other non-interest income | 40 | 59 |
Total non-interest income | 1,192 | 1,308 |
Non-interest expense: | ' | ' |
Salaries and employee benefits | 2,779 | 2,972 |
Occupancy and equipment | 804 | 793 |
Professional services | 421 | 456 |
Advertising | 81 | 107 |
Office supplies, postage and courier | 95 | 106 |
FDIC insurance premium | 168 | 210 |
State franchise taxes | 65 | 153 |
Other non-interest expense | 650 | 659 |
Total non-interest expense | 5,063 | 5,456 |
Income before income taxes | 117 | 118 |
Income tax benefit | 0 | -24 |
Net income | $117 | $142 |
Share and Per Share Data | ' | ' |
Basic average common shares outstanding (in shares) | 7,192,350 | 7,192,350 |
Diluted average common shares outstanding (in shares) | 7,244,716 | 7,223,144 |
Basic and diluted earnings per common share (in dollars per share) | $0.02 | $0.02 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net income | $117 | $142 |
Other comprehensive income: | ' | ' |
Net unrealized gains on securities available-for-sale, net of related taxes of $571 | 1,108 | 0 |
Reclassification adjustment for losses recognized in income statement, net of related taxes of $(48) | -92 | 0 |
Unrealized gains on securities transferred to available-for-sale, net of related taxes of $12 | 0 | 23 |
Amortization of unrealized losses on held-to-maturity securities, net of taxes of $12 | 0 | 23 |
Total other comprehensive income | 1,016 | 46 |
Comprehensive income | $1,133 | $188 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Parenthetical] (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Net unrealized gains on securities available-for-sale, net of related taxes | $571 | ' |
Reclassification adjustment for losses recognized in income statement, net of related taxes | -48 | ' |
Unrealized gains on securities transferred to available-for-sale, net of related taxes | ' | 12 |
Amortization of unrealized losses on held-to-maturity securities, net of taxes | ' | $12 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities | ' | ' |
Net income | $117 | $142 |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' |
Depreciation | 273 | 254 |
Provision for loan losses | 0 | -650 |
Deferred income taxes | 0 | -24 |
Loss on loans held for sale | 245 | 0 |
Loss on sale of securities available-for-sale | 140 | 0 |
Gain on sale of real estate owned | 0 | -84 |
Gain on sale of branch | -438 | 0 |
Stock option plan expense | 60 | 79 |
Premium amortization on securities, net | 270 | 442 |
Earnings on bank owned life insurance | -239 | -240 |
Net changes in other assets and other liabilities | -3,064 | 284 |
Net cash provided by (used in) operating activities | -2,635 | 203 |
Cash flows from investing activities | ' | ' |
Purchases | -5,949 | -6,730 |
Proceeds from sales | 2,133 | 0 |
Proceeds from maturities, principal payments and calls | 6,439 | 9,299 |
Net change in loans | 2,644 | -10,785 |
Proceeds from sale of real estate owned | 33 | 1,393 |
Premises and equipment expenditures | -50 | -289 |
Decrease from sale of branch | -12,464 | 0 |
Net cash used in investing activities | -7,214 | -7,112 |
Cash flows from financing activities | ' | ' |
Net change in deposits | 9,435 | -1,001 |
Repayment of Federal Home Loan Bank advances | -7 | -1,114 |
Proceeds from sale of FHLB stock | 549 | 0 |
Net cash provided by (used in) financing activities | 9,977 | -2,115 |
Net change in cash and cash equivalents | 128 | -9,024 |
Cash and cash equivalents at beginning of year | 25,357 | 63,307 |
Cash and cash equivalents at end of year | 25,485 | 54,283 |
Cash paid during the period for: | ' | ' |
Interest on deposits and borrowings | 328 | 537 |
Non-cash investing and financing activities | ' | ' |
Transfer of loans to real estate owned | 377 | 0 |
Transfer to loans held for sale | $87 | $0 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Significant Accounting Policies [Text Block] | ' | |||||||
Note 1 - Summary Of Significant Accounting Policies | ||||||||
These consolidated interim financial statements are prepared without audit and reflect all adjustments which, in the opinion of management, are necessary to present fairly the financial position of DCB Financial Corp (the “Company”) at March 31, 2014, and its results of operations and cash flows for the three month periods ended March 31, 2014 and 2013. All such adjustments are normal and recurring in nature. The accompanying consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not purport to contain all necessary financial disclosures required by accounting principles generally accepted in the United States of America that might otherwise be necessary in the circumstances, and should be read in conjunction with the consolidated financial statements, and notes thereto, included in its Annual Report as of December 31, 2013. Refer to the accounting policies of the Company described in the Notes to Consolidated Financial Statements contained in the Company’s Annual Report as of December 31, 2013. The Company has consistently followed these policies in preparing this Form 10-Q. The results of operations for the three months ended March 31, 2014, are not necessarily indicative of the results that may be expected for the entire year. | ||||||||
The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, The Delaware County Bank and Trust Company (the “Bank”), DCB Title Services LLC, DCB Insurance Services, Inc. and ORECO, Inc. (collectively referred to herein after as the “Company”). All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. Management considers the Company to operate within one business segment, banking. | ||||||||
To prepare financial statements in conformity with accounting principles generally accepted in the United States of America (“US GAAP”), management makes estimates and assumptions based on available information. These estimates and assumptions affect amounts reported in the financial statements and disclosures provided, and future results could differ. The allowance for loan losses, fair values of financial instruments and status of contingencies are particularly subject to change. | ||||||||
Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. Deferred tax, net of valuation allowances, at March 31, 2014 and December 31, 2013 were comprised entirely of the deferred tax amount generated by the unrealized gain or loss position of the available for sale securities portfolio. | ||||||||
Earnings per share | ||||||||
Earnings per common share is net income divided by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed including the dilutive effect of additional potential common shares under stock options. Weighted-average shares for basic and diluted earnings per share are presented below. | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Weighted-average common shares outstanding (basic) | 7,192,350 | 7,192,350 | ||||||
Dilutive effect of assumed exercise of stock options | 52,366 | 30,974 | ||||||
Weighted-average common shares outstanding (diluted) | 7,244,716 | 7,223,144 | ||||||
There were 153,506 shares included in the computation of common share equivalents for the three-month period then ended because the average fair value of the shares was greater than the exercise price. | ||||||||
Options to purchase 122,437 shares of common stock with a weighted-average exercise price of $16.46 were outstanding at March 31, 2013. There were 28,918 vested shares included in the computation of common share equivalents for the three-month period then ended because the average fair value of the shares was greater than the exercise price. | ||||||||
Stock-Based Compensation | ||||||||
The Company has a stock option plan for employees and directors as described in Note 6 (Stock-Based Compensation). In addition to equity settlement, the stock option plan also allows for cash settlement of options at the recipient’s discretion; therefore, liability accounting applies to this plan. Compensation expense is recognized based on the fair value of these awards at the reporting date. A Black Scholes model is utilized to estimate the fair value of stock options at the date of grant and subsequent remeasurement dates. Compensation cost is recognized over the required service period, generally defined as the vesting period for stock option awards. The Company’s stock option awards contain terms that provide for a graded vesting schedule whereby portions of the award vest in increments over the requisite service period. Changes in fair value of the options between the vesting date and option expiration date are also recognized in the Consolidated Statement of Operations. | ||||||||
Significant Accounting Estimates | ||||||||
The Company’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America and follow general practices within the financial services industry. The application of these principles requires management to make estimates, assumptions, and judgments that affect the amounts reported in the financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. | ||||||||
The procedures for assessing the adequacy of the allowance for loan losses reflect our evaluation of credit risk after careful consideration of all information available to us. In developing this assessment, we must rely on estimates and exercise judgment regarding matters where the ultimate outcome is unknown, such as economic factors, developments affecting companies in specific industries and issues with respect to single borrowers. Depending on changes in circumstances, future assessments of credit risk may yield materially different results, which may require an increase or a decrease in the allowance for loan losses. | ||||||||
The valuation of other assets requires that management utilize a variety of estimates and analysis to determine whether an asset is impaired or other-than-temporarily impaired (“OTTI”). After determining the appropriate methodology for fair value measurement, management then evaluates whether or not declines in fair value below book value are temporary or other-than-temporary impairments. When the Company does not intend to sell a debt security, and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis, it recognizes the credit component of an other-than-temporary impairment of a debt security in earnings and the remaining portion in other comprehensive income. | ||||||||
Loans (including Loans Held for Sale): Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Management’s intent and view of the foreseeable future may change based on changes in business strategies, the economic environment, market conditions and the availability of government programs. Loans that are held for investment are reported at the principal balance outstanding, net of unearned interest, unamortized deferred loan fees and costs and the allowance for loan losses. Loans held for sale are carried at the lower of amortized cost or estimated fair value, determined on an aggregate basis for each type of loan. Net unrealized losses are recognized by charges to income. | ||||||||
Interest income is accrued based on the unpaid principal balance and includes amortization of net deferred loan fees and costs over the loan term. Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the credit is well secured and in process of collection. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not received for loans placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | ||||||||
When loans are transferred from held for investment to held for sale, specific reserves and allocated pooled reserves included in the allowance for loan and losses are reclassified to reduce the basis of the loans to the lower of cost or estimated fair value less cost to sell. | ||||||||
Allowance for Loan Losses: The allowance for loan losses is a valuation allowance for probable but unconfirmed credit losses, increased by the provision for loan losses and decreased by charge-offs net of recoveries. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the required allowance balance based on past loan loss experience, augmented by additional estimates related to the nature and volume of the portfolio, information about specific borrower situations, estimated collateral values, economic conditions and other factors. | ||||||||
The allowance consists of both specific and general components. The specific component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the collateral value, or value of expected discounted cash flows of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical charge-off experience and expected loss given default derived from the Bank’s internal risk rating process. Management utilizes an average of a three year historical loss period. Management has the ability to adjust these loss rates by utilizing risk ratings based on current period trends. If current period trends differ either positively or negatively from the given weighted historical loss rates, adjustments can be made. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risking rating data. | ||||||||
Management also utilizes its assessment of general economic conditions, and other localized economic data to more fully support its loan loss estimates. General economic data may include: inflation rates, savings rates and national unemployment rates. Local data may include: unemployment rates, housing starts, real estate valuations, and other economic data specific to the Company’s market area. Though not specific to individual loans, these economic trends can have an impact on portfolio performance as a whole. | ||||||||
Uncollectibility is usually determined based on a pre-determined number of days delinquent in the case of consumer loans, or, in the case of commercial loans, is based on a combination of factors including delinquency, collateral and other legal considerations. Consumer loans are charged-off prior to 120 days of delinquency, but could be charged off earlier, depending on the individual circumstances. Mortgage loans are charged down prior to 180 days of delinquency, but could be charged off sooner, again, depending upon individual circumstance. Typically, loans collateralized by residential real estate are partially charged down to the estimated liquidation value, which is generally based on appraisal less costs to hold and liquidate. Commercial and commercial real estate loans are evaluated for impairment and typically reserved based on the results of the analysis, then subsequently charged down to a recoverable value when loan repayment is deemed to be collateral dependent. Loans can be partially charged down depending on a number of factors including: the remaining strength of the borrower and guarantor; the type and value of the collateral, and the ease of liquidating collateral; and whether or not collateral is brought onto the bank’s balance sheet via repossession. In the case of commercial and commercial real estate loans, charge-offs, partial or whole, take place when management determines that full collectability of principal balance is unlikely to occur. Subsequent recoveries, if any, are credited to the allowance. Management’s policies for determining impairment, reserves and charge-offs are reviewed and approved by the Board of Directors on an annual basis. | ||||||||
Troubled debt restructuring of loans is undertaken to improve the likelihood that the loan will be repaid in full under the modified terms in accordance with a reasonable repayment schedule. All modified loans are evaluated to determine whether the loans should be reported as a Troubled Debt Restructuring (“TDR”). A loan is a TDR when the Company, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower by modifying or renewing a loan that the Company would not otherwise consider. To make this determination, the Company must determine whether (a) the borrower is experiencing financial difficulties and (b) the Company granted the borrower a concession. This determination requires consideration of all of the facts and circumstances surrounding the modification. An overall general decline in the economy or some deterioration in a borrower’s financial condition does not automatically mean the borrower is experiencing financial difficulties. | ||||||||
Securities
Securities | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
Note 2 – Securities | |||||||||||||||||||||||||||||
As of March 31, 2014: | |||||||||||||||||||||||||||||
The amortized cost and estimated fair values of securities available-for-sale were as follows (in thousands): | |||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||
Costs | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | 13,733 | $ | 25 | $ | -286 | $ | 13,472 | |||||||||||||||||||||
Corporate bonds | 6,152 | 38 | -49 | 6,141 | |||||||||||||||||||||||||
States and municipal obligations | 20,680 | 346 | -298 | 20,728 | |||||||||||||||||||||||||
Mortgage-backed securities | 37,522 | 757 | -166 | 38,113 | |||||||||||||||||||||||||
Total | $ | 78,087 | $ | 1,166 | $ | -799 | $ | 78,454 | |||||||||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||||||||||
The amortized cost and estimated fair values of securities available-for-sale were as follows (in thousands): | |||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||
Costs | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | 13,714 | $ | 16 | $ | -428 | $ | 13,302 | |||||||||||||||||||||
Corporate bonds | 6,187 | 42 | -61 | 6,168 | |||||||||||||||||||||||||
States and municipal obligations | 20,651 | 283 | -484 | 20,450 | |||||||||||||||||||||||||
Collateralized debt obligations | 1,916 | - | -940 | 976 | |||||||||||||||||||||||||
Mortgage-backed securities | 38,652 | 731 | -331 | 39,052 | |||||||||||||||||||||||||
Total | $ | 81,120 | $ | 1,072 | $ | -2,244 | $ | 79,948 | |||||||||||||||||||||
There were no credit losses recognized on investments in the three months ended March 31, 2014 and 2013. | |||||||||||||||||||||||||||||
The table below indicates the length of time individual securities have been in a continuous unrealized loss position at March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||
(Less than 12 months) | (12 months or longer) | Total | |||||||||||||||||||||||||||
Description of | Number of | Fair | Unrealized | Number of | Fair | Unrealized | Number of | Fair | Unrealized | ||||||||||||||||||||
securities | investments | value | losses | investments | value | losses | investments | value | losses | ||||||||||||||||||||
U.S. Government and agency obligations | 8 | $ | 7,364 | $ | 167 | 2 | $ | 2,431 | $ | 119 | 10 | $ | 9,795 | $ | 286 | ||||||||||||||
Corporate bonds | 5 | 1,891 | 24 | 3 | 1,403 | 25 | 8 | 3,294 | 49 | ||||||||||||||||||||
State and municipal obligations | 21 | 7,599 | 182 | 4 | 1,546 | 116 | 25 | 9,145 | 298 | ||||||||||||||||||||
Mortgage-backed securities and other | 6 | 4,474 | 77 | 2 | 2,103 | 89 | 8 | 6,577 | 166 | ||||||||||||||||||||
Total temporarily impaired securities | 40 | $ | 21,328 | $ | 450 | 11 | $ | 7,483 | $ | 349 | 51 | $ | 28,811 | $ | 799 | ||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
(Less than 12 months) | (12 months or longer) | Total | |||||||||||||||||||||||||||
Description of | Number of | Fair | Unrealized | Number of | Fair | Unrealized | Number of | Fair | Unrealized | ||||||||||||||||||||
securities | investments | value | losses | investments | value | losses | investments | value | losses | ||||||||||||||||||||
U.S. Government and agency obligations | 10 | $ | 10,680 | $ | 428 | - | $ | - | $ | - | 10 | $ | 10,680 | $ | 428 | ||||||||||||||
Corporate bonds | 5 | 2,141 | 38 | 2 | 883 | 23 | 7 | 3,024 | 61 | ||||||||||||||||||||
State and municipal obligations | 32 | 11,012 | 442 | 2 | 822 | 42 | 34 | 11,834 | 484 | ||||||||||||||||||||
Collateralized debt obligations | - | - | - | 1 | 976 | 940 | 1 | 976 | 940 | ||||||||||||||||||||
Mortgage-backed securities and other | 11 | 8,445 | 231 | 2 | 1,189 | 100 | 13 | 9,634 | 331 | ||||||||||||||||||||
Total temporarily impaired securities | 58 | $ | 32,278 | $ | 1,139 | 7 | $ | 3,870 | $ | 1,105 | 65 | $ | 36,148 | $ | 2,244 | ||||||||||||||
The unrealized losses on the Company’s investments in U.S. Government and agency obligations, state and political subdivision obligations, corporate bonds and mortgage-backed securities were caused primarily by changes in interest rates. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider those investments to be OTTI at March 31, 2014 or December 31, 2013. | |||||||||||||||||||||||||||||
Substantially all mortgage-backed securities are backed by pools of mortgages that are insured or guaranteed by the Federal National Mortgage Association (“FNMA”), the Government National Mortgage Association (“GNMA”) or the Federal Home Loan Mortgage Corporation (“FHLMC”). | |||||||||||||||||||||||||||||
On March 17, 2014, the Company sold its remaining investment in collateralized debt obligations for a loss of $141,000, this was the only security sold at a loss during the three months ended March 31, 2014. There were no securities sold at a loss during the three months ended March 31 2013. | |||||||||||||||||||||||||||||
At March 31, 2014, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of shareholders’ equity. | |||||||||||||||||||||||||||||
The amortized cost and estimated fair value of all debt securities at March 31, 2014, by contractual maturity, are shown below (in thousands). Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Mortgage-backed securities are shown separately since they are not due at a single maturity date. | |||||||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||
Due in one year or less | $ | 502 | $ | 504 | |||||||||||||||||||||||||
Due after one to five years | 10,733 | 10,774 | |||||||||||||||||||||||||||
Due after five to ten years | 19,201 | 19,105 | |||||||||||||||||||||||||||
Due after ten years | 10,129 | 9,958 | |||||||||||||||||||||||||||
Mortgage-backed and related securities | 37,522 | 38,113 | |||||||||||||||||||||||||||
Total | $ | 78,087 | $ | 78,454 | |||||||||||||||||||||||||
Securities with a fair value of $65.9 million at March 31, 2014 were pledged to secure public deposits and other obligations. | |||||||||||||||||||||||||||||
Loans
Loans | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Receivables [Abstract] | ' | |||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | |||||||
Note 3 – Loans | ||||||||
At March 31, 2014 and December 31, 2013, loans were comprised of the following (in thousands): | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
Commercial and industrial | $ | 110,886 | $ | 122,084 | ||||
Commercial real estate | 103,125 | 104,692 | ||||||
Residential real estate and home equity | 105,573 | 96,245 | ||||||
Consumer and credit card | 32,498 | 32,862 | ||||||
Subtotal | 352,082 | 355,883 | ||||||
Add: Net deferred loan origination fees | 164 | 165 | ||||||
Total loans receivable | $ | 352,246 | $ | 356,048 | ||||
Credit_Quality
Credit Quality | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||
Credit Quality [Abstract] | ' | ||||||||||||||||||||||
Credit Quality Disclosure [Text Block] | ' | ||||||||||||||||||||||
Note 4 – Credit Quality | |||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||
The Company’s methodology for estimating probable future losses on loans utilizes a combination of probability of loss by loan grade and loss given defaults for its portfolios. The probability of default is based on both market data from a third-party independent source and actual historical default rates within the Company’s portfolio. A loan is impaired when full payment of interest and principal under the original contractual loan terms is not expected. Commercial and industrial loans, commercial real estate, including construction and land development, and multi-family real estate loans are individually evaluated for impairment. If a loan is impaired, the loan amount exceeding fair value, based on the most current information available is reserved. Management has developed a process by which commercial and commercial real estate loans receiving an internal grade of substandard or doubtful are individually evaluated for impairment through a loan quality review (LQR). The LQR details the various attributes of the relationship and collateral and determines based on the most recent available information if a specific reserve needs to be applied and at what level. The LQR process for all loans meeting the specific review criteria is completed on a quarterly basis. Large groups of smaller balance homogeneous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, such loans are not separately identified for impairment disclosures. This methodology recognizes portfolio behavior while allowing for reasonable loss ratios on which to estimate allowance calculations. | |||||||||||||||||||||||
Further, the process for estimating probable loan losses is divided into reviewing impaired loans on an individual basis for probable losses and, as noted above, calculating probable future losses based on historical and market data for homogenous loan portfolios. As the Company’s troubled loan portfolios have been reduced through charge-off, the remaining loan portfolios possess better overall credit characteristics, and based on the Company’s methodology require lower rates of reserving than historical levels. | |||||||||||||||||||||||
The table below presents allowance for loan losses by loan portfolio. Commercial real estate includes real estate construction and land development loans (in thousands). | |||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||
Unallocated | Consumer and | Commercial and | Commercial | Residential Real | Total | ||||||||||||||||||
Credit Card | Industrial | Real Estate | Estate and | ||||||||||||||||||||
Home Equity | |||||||||||||||||||||||
Beginning balance | $ | - | $ | 301 | $ | 3,232 | $ | 2,974 | $ | 218 | $ | 6,725 | |||||||||||
Charge-offs | - | -46 | -1,193 | -159 | -14 | -1,412 | |||||||||||||||||
Recoveries | - | 31 | 4 | 84 | 10 | 129 | |||||||||||||||||
Provision | 173 | -40 | 30 | -127 | -36 | - | |||||||||||||||||
Transferred to loans held for sale | - | - | - | -97 | - | -97 | |||||||||||||||||
Ending balance | $ | 173 | $ | 246 | $ | 2,073 | $ | 2,675 | $ | 178 | $ | 5,345 | |||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | 966 | $ | 1,724 | $ | - | $ | 2,690 | |||||||||||
Collectively evaluated for impairment | 173 | 246 | 1,107 | 951 | 178 | 2,655 | |||||||||||||||||
Ending balance | $ | 173 | $ | 246 | $ | 2,073 | $ | 2,675 | $ | 178 | $ | 5,345 | |||||||||||
Loans | |||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | 3,730 | $ | 15,108 | $ | - | $ | 18,838 | |||||||||||
Collectively evaluated for impairment | - | 32,498 | 107,156 | 88,017 | 105,573 | 333,244 | |||||||||||||||||
Total | $ | - | $ | 32,498 | $ | 110,886 | $ | 103,125 | $ | 105,573 | $ | 352,082 | |||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||||||||||
Consumer and | Commercial and | Commercial | Residential Real | Total | |||||||||||||||||||
Credit Card | Industrial | Real Estate | Estate and | ||||||||||||||||||||
Home Equity | |||||||||||||||||||||||
Beginning balance | $ | 365 | $ | 1,621 | $ | 4,692 | $ | 204 | $ | 6,882 | |||||||||||||
Charge-offs | -39 | -64 | -102 | -42 | -247 | ||||||||||||||||||
Recoveries | 60 | 688 | 10 | 15 | 773 | ||||||||||||||||||
Provision | -99 | -659 | 124 | -16 | -650 | ||||||||||||||||||
Ending balance | $ | 287 | $ | 1,586 | $ | 4,724 | $ | 161 | $ | 6,758 | |||||||||||||
Individually evaluated for impairment | $ | - | $ | 737 | $ | 2,983 | $ | - | $ | 3,720 | |||||||||||||
Collectively evaluated for impairment | 287 | 849 | 1,741 | 161 | 3,038 | ||||||||||||||||||
Ending balance | $ | 287 | $ | 1,586 | $ | 4,724 | $ | 161 | $ | 6,758 | |||||||||||||
Loans | |||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 5,586 | $ | 20,980 | $ | - | $ | 26,566 | |||||||||||||
Collectively evaluated for impairment | 24,452 | 116,066 | 88,645 | 73,026 | 302,189 | ||||||||||||||||||
Total | $ | 24,452 | $ | 121,652 | $ | 109,625 | $ | 73,026 | $ | 328,755 | |||||||||||||
Impaired Loans | |||||||||||||||||||||||
A loan is considered impaired when based on current information and events it is probable the Bank will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming commercial loans but also include loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. Commercial and commercial real estate loans with risk grades Substandard, Vulnerable, Doubtful, or Loss are evaluated for impairment. | |||||||||||||||||||||||
The following presents by class, information related to the Company’s impaired loans as of March 31, 2014 and December 31, 2013 (in thousands). | |||||||||||||||||||||||
At March 31, 2014 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Year-to-date | Year-to-date | |||||||||||||||||||
Investment | Principal | Allowance | Average | Interest | |||||||||||||||||||
Balance | Recorded | Income | |||||||||||||||||||||
Investment | Recognized | ||||||||||||||||||||||
With No Related Allowance Recorded | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 1,698 | 1,698 | - | 1,434 | 19 | ||||||||||||||||||
Commercial Real Estate | 9,826 | 9,826 | - | 9,816 | 149 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
With Allowance Recorded | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 2,032 | 2,110 | 966 | 4,135 | 12 | ||||||||||||||||||
Commercial Real Estate | 5,282 | 5,282 | 1,724 | 5,495 | 73 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
Total | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 3,730 | 3,808 | 966 | 5,569 | 31 | ||||||||||||||||||
Commercial Real Estate | 15,108 | 15,108 | 1,724 | 15,311 | 222 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
Total | $ | 18,838 | $ | 18,916 | $ | 2,690 | $ | 20,880 | $ | 253 | |||||||||||||
At December 31, 2013 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Year-to-date | Year-to-date | |||||||||||||||||||
Investment | Principal | Allowance | Average | Interest | |||||||||||||||||||
Balance | Recorded | Income | |||||||||||||||||||||
Investment | Recognized | ||||||||||||||||||||||
With No Related Allowance Recorded | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 1,530 | 1,530 | - | 3,081 | 67 | ||||||||||||||||||
Commercial Real Estate | 9,892 | 11,788 | - | 10,005 | 615 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
With Allowance Recorded | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 5,691 | 5,833 | 2,304 | 2,686 | 196 | ||||||||||||||||||
Commercial Real Estate | 5,768 | 7,296 | 1,862 | 10,060 | 308 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
Total | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 7,221 | 7,363 | 2,304 | 5,767 | 263 | ||||||||||||||||||
Commercial Real Estate | 15,660 | 19,084 | 1,862 | 20,065 | 923 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
Total | $ | 22,881 | $ | 26,447 | $ | 4,166 | $ | 25,832 | $ | 1,186 | |||||||||||||
The allowance for impaired loans is included in the Company’s overall allowance for loan losses. The provision necessary to increase this allowance is included in the Company’s overall provision for losses on loans. | |||||||||||||||||||||||
Loans on nonaccrual status at March 31, 2014 and December 31, 2013 are as follows (in thousands): | |||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Consumer and credit card | $ | - | $ | - | |||||||||||||||||||
Commercial and industrial | 1,449 | 4,702 | |||||||||||||||||||||
Commercial real estate | 1,317 | 1,398 | |||||||||||||||||||||
Residential real estate and home equity | 511 | 352 | |||||||||||||||||||||
Total | $ | 3,277 | $ | 6,452 | |||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||
Corporate risk exposure by risk profile was as follows at March 31, 2014 (in thousands): | |||||||||||||||||||||||
Category | Commercial and | Commercial | |||||||||||||||||||||
Industrial | Real Estate | ||||||||||||||||||||||
Pass-1-4 | $ | 99,921 | $ | 85,073 | |||||||||||||||||||
Vulnerable-5 | 3,318 | 4,542 | |||||||||||||||||||||
Substandard-6 | 7,647 | 13,510 | |||||||||||||||||||||
Doubtful-7 | - | - | |||||||||||||||||||||
Loss-8 | - | - | |||||||||||||||||||||
Total | $ | 110,886 | $ | 103,125 | |||||||||||||||||||
Corporate risk exposure by risk profile was as follows at December 31, 2013: | |||||||||||||||||||||||
Category | Commercial and | Commercial | |||||||||||||||||||||
Industrial | Real Estate | ||||||||||||||||||||||
Pass-1-4 | $ | 111,266 | $ | 83,953 | |||||||||||||||||||
Vulnerable-5 | 2,574 | 4,785 | |||||||||||||||||||||
Substandard-6 | 8,244 | 15,954 | |||||||||||||||||||||
Doubtful-7 | - | - | |||||||||||||||||||||
Loss-8 | - | - | |||||||||||||||||||||
Total | $ | 122,084 | $ | 104,692 | |||||||||||||||||||
Risk Category Descriptions | |||||||||||||||||||||||
Pass (Prime – 1, Good – 2, Fair – 3, Compromised – 4) | |||||||||||||||||||||||
Loans with a pass grade have a higher likelihood that the borrower will be able to service its obligations in accordance with the terms of the loan than those loans graded 5, 6, 7, or 8. The borrower’s ability to meet its future debt service obligations is the primary focus for this determination. Generally, a borrower’s expected performance is based on the borrower’s financial strength as reflected by its historical and projected balance sheet and income statement proportions, its performance, and its future prospects in light of conditions that may occur during the term of the loan. | |||||||||||||||||||||||
Vulnerable (Special Mention) – 5 | |||||||||||||||||||||||
Loans which possess some credit deficiency or potential weakness which deserves close attention, but which do not yet warrant substandard classification. Such loans pose unwarranted financial risk that, if not corrected, could weaken the loan and increase risk in the future. The key distinctions of a 5 (Special Mention) classification are that (1) it is indicative of an unwarranted level of risk, and (2) weaknesses are considered “potential”, versus “well-defined”, impairments to the primary source of loan repayment. | |||||||||||||||||||||||
Substandard – 6 | |||||||||||||||||||||||
Loans that are inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. One or more of the following characteristics may be exhibited in loans classified Substandard: | |||||||||||||||||||||||
· | Loans, which possess a defined credit weakness and the likelihood that a loan will be paid from the primary source, is uncertain. Financial deterioration is underway and very close attention is warranted to ensure that the loan is collected without loss. | ||||||||||||||||||||||
· | Loans are inadequately protected by the current net worth and paying capacity of the obligor. | ||||||||||||||||||||||
· | The primary source of repayment is gone, and the Bank is forced to rely on a secondary source of repayment such as collateral liquidation or guarantees. | ||||||||||||||||||||||
· | Loans are characterized by the distinct possibility that the Bank will sustain some loss if deficiencies are not corrected. | ||||||||||||||||||||||
· | Unusual courses of action are needed to maintain a high probability of repayment. | ||||||||||||||||||||||
· | The borrower is not generating enough cash flow to repay loan principal; however, continues to make interest payments. | ||||||||||||||||||||||
· | The lender is forced into a subordinated or unsecured position due to flaws in documentation. | ||||||||||||||||||||||
· | Loans have been restructured so that payment schedules, terms and collateral represent concessions to the borrower when compared to the normal loan terms. | ||||||||||||||||||||||
· | The lender is seriously contemplating foreclosure or legal action due to the apparent deterioration in the loan. | ||||||||||||||||||||||
· | There is a significant deterioration in the market conditions and the borrower is highly vulnerable to these conditions. | ||||||||||||||||||||||
Doubtful – 7 | |||||||||||||||||||||||
One or more of the following characteristics may be exhibited in loans classified Doubtful: | |||||||||||||||||||||||
· | Loans have all of the weaknesses of those classified as Substandard. Additionally, however, these weaknesses make collection or liquidation in full based on existing conditions improbable. | ||||||||||||||||||||||
· | The primary source of repayment is gone, and there is considerable doubt as to the quality of the secondary source of repayment. | ||||||||||||||||||||||
· | The possibility of loss is high, but, because of certain important pending factors, which may strengthen the loan, loss classification is deferred until its exact status is known. A Doubtful classification is established during this period of deferring the realization of the loss. | ||||||||||||||||||||||
Loss – 8 | |||||||||||||||||||||||
Loans are considered uncollectible and of such little value that continuing to carry them as assets on the institution’s financial statements is not feasible. Loans will be classified Loss when it is neither practical nor desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future. | |||||||||||||||||||||||
Consumer Risk | |||||||||||||||||||||||
Consumer risk based on payment activity at March 31, 2014 is as follows (in thousands). | |||||||||||||||||||||||
Payment Category | Consumer and | Residential Real | |||||||||||||||||||||
Credit Card | Estate and | ||||||||||||||||||||||
Home Equity | |||||||||||||||||||||||
Performing | $ | 32,498 | $ | 105,062 | |||||||||||||||||||
Non-performing | - | 511 | |||||||||||||||||||||
Total | $ | 32,498 | $ | 105,573 | |||||||||||||||||||
Consumer risk based on payment activity at December 31, 2013 is as follows (in thousands). | |||||||||||||||||||||||
Payment Category | Consumer and | Residential Real | |||||||||||||||||||||
Credit Card | Estate and Home | ||||||||||||||||||||||
Equity | |||||||||||||||||||||||
Performing | $ | 32,862 | $ | 95,893 | |||||||||||||||||||
Non-Performing | - | 352 | |||||||||||||||||||||
Total | $ | 32,862 | $ | 96,245 | |||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||
The following table presents past due loans aged as of March 31, 2014 (in thousands). | |||||||||||||||||||||||
Category | 30-59 Days | 60-89 | 90 Days or | Total Past | Current | Total | Recorded | ||||||||||||||||
Past Due | Days | more Past | Due | Financing | Investment > | ||||||||||||||||||
Past Due | Due | Receivables | 90 days and | ||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Consumer and credit card | $ | 33 | $ | 67 | $ | - | $ | 100 | $ | 32,398 | $ | 32,498 | $ | - | |||||||||
Commercial and industrial | 180 | - | 751 | 931 | 109,955 | 110,886 | - | ||||||||||||||||
Commercial real estate | - | 63 | 484 | 547 | 102,578 | 103,125 | - | ||||||||||||||||
Residential real estate and home equity | 621 | 2 | 422 | 1,045 | 104,528 | 105,573 | - | ||||||||||||||||
Total | $ | 834 | $ | 132 | $ | 1,657 | $ | 2,623 | $ | 349,459 | $ | 352,082 | $ | - | |||||||||
The following table presents past due loans aged as of December 31, 2013 (in thousands). | |||||||||||||||||||||||
Category | 30-59 Days | 60-89 | Greater | Total | Current | Total Loans | Recorded | ||||||||||||||||
Past Due | Days | than 90 | Past Due | Investment > | |||||||||||||||||||
Past Due | Days Past | 90 days and | |||||||||||||||||||||
Due | Accruing | ||||||||||||||||||||||
Consumer and Credit Card | $ | 90 | $ | 92 | $ | - | $ | 182 | $ | 32,680 | $ | 32,862 | $ | - | |||||||||
Commercial and Industrial | 407 | - | 1,001 | 1,408 | 120,676 | 122,084 | - | ||||||||||||||||
Commercial Real Estate | 49 | - | 682 | 731 | 103,961 | 104,692 | - | ||||||||||||||||
Residential Real Estate and Home Equity | 374 | - | 321 | 892 | 95,353 | 96,245 | - | ||||||||||||||||
Total | $ | 920 | $ | 92 | $ | 2,004 | $ | 3,213 | $ | 352,670 | $ | 355,883 | $ | - | |||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||
Information regarding Troubled Debt Restructuring (“TDR”) loans for the three month period ended March 31, 2014 is as follows (in thousands): | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||
Number of | Recorded Investment | Number ofContracts | Recorded Investment | ||||||||||||||||||||
Contracts | (as of period end) | (as of period end) | |||||||||||||||||||||
Consumer and Credit Card | - | $ | - | - | $ | - | |||||||||||||||||
Commercial and Industrial | 2 | 58 | 3 | 2,230 | |||||||||||||||||||
Commercial Real Estate | - | - | - | - | |||||||||||||||||||
Residential Real Estate and Home Equity | - | - | - | - | |||||||||||||||||||
Total | 2 | $ | 58 | 3 | $ | 2,230 | |||||||||||||||||
The following presents by class loans modified in a TDR that subsequently defaulted within twelve months of the modification (i.e. 60 days or more past due) during the three month period ended March 31, 2014 and 2013 (in thousands). | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||
Number of | Recorded Investment | Number of | Recorded Investment | ||||||||||||||||||||
Contracts | as of period end (1) | Contracts | as of period end (1) | ||||||||||||||||||||
Consumer and Credit Card | - | $ | - | - | $ | - | |||||||||||||||||
Commercial and Industrial | - | - | - | - | |||||||||||||||||||
Commercial Real Estate | 3 | 520 | - | - | |||||||||||||||||||
Residential Real Estate and Home Equity | - | - | - | - | |||||||||||||||||||
Total | 3 | $ | 520 | - | $ | - | |||||||||||||||||
-1 | Period end balances are inclusive of all partial pay downs and charge-offs since the modification date. Loans modified in a TDR that were fully paid down, charged off, or foreclosed upon by period end are not reported. | ||||||||||||||||||||||
A modification of a loan constitutes a TDR when a borrower is experiencing financial difficulty and the modification constitutes a concession. The Company offers various types of concessions when modifying a loan; however, forgiveness of principal is rarely granted. Depending on the financial condition of the borrower, the purpose of the loan and the type of collateral supporting the loan structure; modifications can be either short-term (12 months of less) or long term (greater than one year). Commercial loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral, a co-borrower, or a guarantor may be requested. Commercial mortgage and construction loans modified in a TDR often involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, or substituting or adding a new borrower or guarantor. Construction loans modified in a TDR may also involve extending the interest-only payment period. | |||||||||||||||||||||||
Land loans are also included in the class of commercial real estate loans. Land loans are typically structured as interest-only monthly payments with a balloon payment due at maturity. Land loans modified in a TDR typically involve extending the balloon payment by one to three years, changing the monthly payments from interest-only to principal and interest, while leaving the interest rate unchanged. | |||||||||||||||||||||||
Loans modified in a TDR are typically already on nonaccrual status and partial charge-offs have in some cases already been taken against the outstanding loan balance. As a result, loans modified in a TDR for the Company may have the financial effect of increasing the specific allowance associated with the loan. The allowance for impaired loans that have been modified in a TDR is measured based on the estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent or on the present value of expected future cash flows discounted at the loan’s effective interest rate. Management exercises significant judgment in developing these estimates. | |||||||||||||||||||||||
As mentioned above, an individual loan is placed on a non-accruing status if, in the judgment of management, it is unlikely that all principal and interest will be received according to the terms of the note. Loans on non-accrual may be eligible to be returned to an accruing status after six months of compliance with the modified terms. However, there are number of factors that could prevent a loan from returning to accruing status, even after remaining in compliance with loan terms for the aforementioned six month period. For example: deteriorating collateral, negative cash flow changes and inability to reduce debt to income ratios. | |||||||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
Note 5 – Fair Value Measurements | |||||||||||||||||
The Company accounts for fair value measurements in accordance with FASB ASC 820, which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. FASB ASC 820 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 at the measurement date. FASB ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. | |||||||||||||||||
The standard describes three levels of inputs that may be used to measure fair value: | |||||||||||||||||
Level 1 | Quoted prices in active markets for identical assets or liabilities | ||||||||||||||||
Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities | ||||||||||||||||
Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities | ||||||||||||||||
The carrying value of certain financial assets and liabilities is impacted by the application of fair value measurements, either directly or indirectly. In certain cases, an asset or liability is measured and reported at fair value on a recurring basis, such as available-for-sale investment securities. In other cases, management must rely on estimates or judgments to determine if an asset or liability not measured at fair value warrants an impairment write-down or whether a valuation reserve should be established. Given the inherent volatility, the use of fair value measurements may have a significant impact on the carrying value of assets or liabilities, or result in material changes to the financial statements, from period to period. | |||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or transfer a liability between market participants at the balance sheet date. When possible, the Company looks to active and observable markets to price identical assets or liabilities. When identical assets and liabilities are not traded in active markets, the Company looks to observable market data for similar assets and liabilities. However, certain assets and liabilities are not traded in observable markets and the Company must use other valuation methods to develop a fair value. | |||||||||||||||||
The following methods, assumptions, and valuation techniques were used by the Company to measure different financial assets and liabilities at fair value and in estimating its fair value disclosures for financial instruments. | |||||||||||||||||
Cash and Cash Equivalents: The carrying amounts reported in the consolidated statements of financial condition for cash and cash equivalents is deemed to approximate fair value and are classified as Level 1 of the fair value hierarchy. | |||||||||||||||||
Available for Sale Investment Securities: Fair values for investment securities are determined by quoted market prices if available (Level 1). For securities where quoted prices are not available, fair values are estimated based on market prices of similar securities. For securities where quoted prices or market prices of similar securities are not available, fair values are estimated using matrix pricing, which is a mathematical technique widely used in the industry to value investment securities without relying exclusively on quoted prices for the specific investment securities but rather relying on the investment securities’ relationship to other benchmark quoted investment securities (Level 2). Any investment securities not valued based upon the methods above is considered Level 3. | |||||||||||||||||
The Company utilizes information provided by a third-party investment securities portfolio manager in analyzing the investment securities portfolio in accordance with the fair value hierarchy of the Fair Value Topic. The portfolio manager’s evaluation of investment security portfolio pricing is performed using a combination of prices and data from other sources, along with internally developed matrix pricing models. The third-party’s month-end pricing process includes a series of quality assurance activities where prices are compared to recent market conditions, previous evaluation prices, and between the various pricing services. These processes produce a series of quality assurance reports on which price exceptions are identified, reviewed and where appropriate, securities are re-priced. In the event of a materially different price, the third party will report the variance and review the pricing methodology in detail. The results of the quality assurance process are incorporated into the selection of pricing providers by the third party. | |||||||||||||||||
Loans: For fixed rate loans and for variable rate loans with infrequent re-pricing or re-pricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life. Fair values for impaired loans are estimated using discounted cash flow analysis or underlying collateral values. For loans held on balance sheet, the discounted fair value is further reduced by the amount of reserves held against the loan portfolios. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price and due to the significant judgment involved in evaluating credit quality, loans are classified within Level 3 classification. | |||||||||||||||||
Federal Home Loan Bank Stock: The carrying amount presented in the consolidated statements of financial condition is deemed to approximate fair value. | |||||||||||||||||
Accrued Interest Receivable and Payable: The fair value for accrued interest approximates its carrying amounts due to the short duration before collection. The valuation is a Level 3 classification which is consistent with its underlying asset or liability. | |||||||||||||||||
Deposits: The fair values of deposits with no stated maturity, such as money market demand deposits, savings and NOW accounts have been analyzed by management and assigned estimated maturities and cash flows which are then discounted to derive a value. The fair value of fixed-rate certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. The Company classifies the estimated fair value of deposit liabilities as Level 2 in the fair value hierarchy. | |||||||||||||||||
Advances from the Federal Home Loan Bank: The fair value of these advances is estimated using the rates currently offered for similar advances of similar remaining maturities or, when available, quoted market prices. | |||||||||||||||||
Commitments to Extend Credit: For fixed-rate and adjustable-rate loan commitments, the fair value estimate considers the difference between current levels of interest rates and committed rates. At March 31, 2014 and December 31, 2013, the fair value of loan commitments was not material. | |||||||||||||||||
Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments are as follows (in thousands): | |||||||||||||||||
At March 31, 2014: | |||||||||||||||||
Carrying | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
Amount | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 25,485 | $ | 25,485 | $ | 25,485 | $ | - | $ | - | |||||||
Securities available-for-sale | 78,454 | 78,454 | - | 78,454 | - | ||||||||||||
Loans (net of allowance)(1) | 349,114 | 344,490 | - | - | 344,490 | ||||||||||||
FHLB stock | 3,250 | 3,250 | - | 3,250 | - | ||||||||||||
Accrued interest receivable | 1,561 | 1,561 | - | - | 1,561 | ||||||||||||
Financial liabilities | |||||||||||||||||
Noninterest-bearing deposits | $ | 104,615 | $ | 104,615 | - | $ | 104,615 | - | |||||||||
Interest-bearing deposits | 335,182 | 335,356 | - | 335,356 | - | ||||||||||||
FHLB advances | 4,831 | 4,831 | - | 4,831 | - | ||||||||||||
Accrued interest payable | 100 | 100 | - | - | 100 | ||||||||||||
At December 31, 2013: | |||||||||||||||||
Carrying | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
Amount | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 25,357 | $ | 25,357 | $ | 25,357 | $ | - | $ | - | |||||||
Securities available-for-sale | 79,948 | 79,948 | - | 78,972 | 976 | ||||||||||||
Loans (net of allowance)(1) | 357,130 | 348,295 | - | - | 348,295 | ||||||||||||
FHLB stock | 3,799 | 3,799 | 3,799 | - | |||||||||||||
Accrued interest receivable | 1,356 | 1,356 | - | - | 1,356 | ||||||||||||
Financial liabilities | |||||||||||||||||
Noninterest-bearing deposits(2) | $ | 116,847 | $ | 116,847 | - | $ | 116,847 | - | |||||||||
Interest-bearing deposits(2) | 336,719 | 337,590 | - | 337,590 | - | ||||||||||||
FHLB advances | 4,838 | 4,838 | - | 4,838 | - | ||||||||||||
Accrued interest payable | 112 | 112 | - | - | 112 | ||||||||||||
-1 | Includes loans held for sale | ||||||||||||||||
-2 | Includes deposits held for sale | ||||||||||||||||
The following table presents the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
March 31, 2014 | Fair Value | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
U.S. Government and agency obligations | $ | 13,472 | $ | - | $ | 13,472 | $ | - | |||||||||
State and municipal obligations | 20,728 | - | 20,728 | - | |||||||||||||
Corporate bonds | 6,141 | - | 6,141 | - | |||||||||||||
Mortgage-backed securities and other | 38,113 | - | 38,113 | - | |||||||||||||
Total | $ | 78,454 | $ | - | $ | 78,454 | $ | - | |||||||||
Fair Value Measurements Using | |||||||||||||||||
December 31, 2013 | Fair Value | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
U.S. Government and agency obligations | $ | 13,302 | $ | - | $ | 13,302 | $ | - | |||||||||
State and municipal obligations | 20,450 | - | 20,450 | - | |||||||||||||
Corporate bonds | 6,168 | - | 6,168 | - | |||||||||||||
Collateralized debt obligation | 976 | - | 976 | ||||||||||||||
Mortgage-backed securities and other | 39,052 | - | 39,052 | - | |||||||||||||
Total | $ | 79,948 | $ | - | $ | 78,972 | $ | 976 | |||||||||
The table below presents a rollforward of the balance sheet amounts for the quarter ended March 31, 2014 for the collateralized debt obligation measured on a recurring basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable inputs to the overall fair value measurement. | |||||||||||||||||
Level 3 Fair Value Measurements | |||||||||||||||||
Three months ended March 31, 2014 | |||||||||||||||||
Balance, as of December 31, 2013 | $ | 976 | |||||||||||||||
Sold during the quarter | 835 | ||||||||||||||||
Total losses: | |||||||||||||||||
Included in earnings | 141 | ||||||||||||||||
Balance, as of March 31, 2014 | $ | - | |||||||||||||||
The following is a description of the valuation methodologies used for instruments measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy. | |||||||||||||||||
Securities | |||||||||||||||||
Certain collateralized debt obligations are classified as held to maturity. The Company calculates fair value based upon a Level 3 estimate of fair value, including a discounted cash flows calculation and a fair value estimate from an independent evaluation of the securities. | |||||||||||||||||
Impaired loans | |||||||||||||||||
At March 31, 2014 and December 31, 2013, impaired loans consisted primarily of loans secured by nonresidential and commercial real estate. Management has determined fair value measurements on impaired loans primarily through evaluations of appraisals performed. | |||||||||||||||||
Real Estate Owned | |||||||||||||||||
Real estate acquired through, or in lieu of, loan foreclosure is held for sale and initially recorded at fair value (based on current appraised value) at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less estimated costs to sell. Management has determined fair value measurements on real estate owned primarily through evaluations of appraisals performed. | |||||||||||||||||
The following table presents the fair value measurements of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2014 and December 31, 2013 (in thousands). | |||||||||||||||||
March 31, 2014 | Fair Value Measurements Using | ||||||||||||||||
Fair | Quoted Prices | Significant | Significant | ||||||||||||||
Value | in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans | $ | 18,838 | $ | - | $ | - | $ | 18,838 | |||||||||
Real estate owned | 1,563 | - | - | 1,563 | |||||||||||||
December 31, 2013 | Fair Value Measurements Using | ||||||||||||||||
Fair | Quoted Prices | Significant | Significant | ||||||||||||||
Value | in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans | $ | 22,881 | - | - | $ | 22,881 | |||||||||||
Real estate owned | 1,219 | - | - | 1,219 | |||||||||||||
Stock_Based_Compensation
Stock Based Compensation | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||
Note 6 – Stock Based Compensation | ||||||||||||
The Company’s shareholders approved an employee share option Plan (the “Plan”) in May 2004. This Plan grants certain employees the right to purchase shares at a predetermined price. The Plan is limited to 300,000 shares. The shares granted to employees vest 20% per year over a five year period. The options expire after ten years. At March 31, 2014, options to purchase 142,317 shares were exercisable, and no shares remained available for grant under this plan. | ||||||||||||
The Company recognizes compensation cost for vested equity-based awards based on their March 31, 2014 fair value. The Company recorded $60,000 and $79,000 in compensation cost for equity-based awards that vested during the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||
In determining the fair value of the stock options at March 31, 2014, the Company utilized a Black-Scholes valuation model with a risk-free interest rate that corresponds to the expected remaining life of each award, an expected dividend yield of 0%, an expected common stock price volatility of 30%, and an expected life of 8 years from the grant date. | ||||||||||||
A summary of the status of the Company’s equity compensation plan as of March 31, 2014, and changes during the period then ended are presented below (dollars in thousands): | ||||||||||||
Shares | Weighted | Weighted | Aggregate | |||||||||
Average Exercise | Average Remaining | Intrinsic | ||||||||||
Price | Contractual Life | Value | ||||||||||
Outstanding at beginning of year | 250,518 | $ | 9.91 | 6.4 years | ||||||||
Exercised | -1,833 | 3.82 | — | |||||||||
Forfeited | -5,702 | 20.68 | — | |||||||||
Outstanding at March 31, 2014 | 242,983 | $ | 9.96 | 6.2 years | $ | 355 | ||||||
Options exercisable at period end | 142,317 | $ | 13.76 | 4.9 years | $ | 170 | ||||||
Weighted-average fair value of options granted during the year ended December 31, 2013 | $ | 1.73 | ||||||||||
There were no options granted in the first quarter of 2014. At March 31, 2014, unrecognized compensation expense to be recognized over the remaining life of outstanding options is $178,000. | ||||||||||||
The following information applies to options outstanding at March 31, 2014: | ||||||||||||
Number Outstanding | Range Of Exercise Prices | |||||||||||
43,750 | $23.00 - $30.70 | |||||||||||
24,192 | $16.90 | |||||||||||
21,535 | $9.00 | |||||||||||
153,506 | $3.50 - $5.40 | |||||||||||
Branch_Sale
Branch Sale | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Branch Sale [Abstract] | ' | ||||
Schudle Of Branch Sale Disclosure [Text Block] | ' | ||||
Note 7 – Branch Sale | |||||
On March 21, 2014, the Bank closed the previously announced sale of its Marysville branch (the “Branch”) to Merchants National Bank, a national bank headquartered in Hillsboro, Ohio (“Merchants”). Merchants acquired certain assets and assumed certain liabilities of the Branch, including the assumption of $19.4 million in deposit liabilities and the purchase of $4.8 million in loans related to the Branch. | |||||
The amounts related to the sale are as follows (in thousands): | |||||
Deposits assumed | $ | 19,403 | |||
Loans sold (at book value) | -4,750 | ||||
Property and equipment (agreed upon value) | -1,500 | ||||
Cash on hand | -261 | ||||
Premium on deposits | -441 | ||||
Other, net | 13 | ||||
Cash paid to Merchants | $ | 12,464 | |||
Due to operational restrictions, certain loans will be transferred to the buyer after the closing. | |||||
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policies) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Earnings Per Share, Policy [Policy Text Block] | ' | |||||||
Earnings per share | ||||||||
Earnings per common share is net income divided by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed including the dilutive effect of additional potential common shares under stock options. Weighted-average shares for basic and diluted earnings per share are presented below. | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Weighted-average common shares outstanding (basic) | 7,192,350 | 7,192,350 | ||||||
Dilutive effect of assumed exercise of stock options | 52,366 | 30,974 | ||||||
Weighted-average common shares outstanding (diluted) | 7,244,716 | 7,223,144 | ||||||
There were 153,506 shares included in the computation of common share equivalents for the three-month period then ended because the average fair value of the shares was greater than the exercise price. | ||||||||
Options to purchase 122,437 shares of common stock with a weighted-average exercise price of $16.46 were outstanding at March 31, 2013. There were 28,918 vested shares included in the computation of common share equivalents for the three-month period then ended because the average fair value of the shares was greater than the exercise price. | ||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |||||||
Stock-Based Compensation | ||||||||
The Company has a stock option plan for employees and directors as described in Note 6 (Stock-Based Compensation). In addition to equity settlement, the stock option plan also allows for cash settlement of options at the recipient’s discretion; therefore, liability accounting applies to this plan. Compensation expense is recognized based on the fair value of these awards at the reporting date. A Black Scholes model is utilized to estimate the fair value of stock options at the date of grant and subsequent remeasurement dates. Compensation cost is recognized over the required service period, generally defined as the vesting period for stock option awards. The Company’s stock option awards contain terms that provide for a graded vesting schedule whereby portions of the award vest in increments over the requisite service period. Changes in fair value of the options between the vesting date and option expiration date are also recognized in the Consolidated Statement of Operations. | ||||||||
Application Of Critical Accounting Policies [Policy Text Block] | ' | |||||||
Significant Accounting Estimates | ||||||||
The Company’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America and follow general practices within the financial services industry. The application of these principles requires management to make estimates, assumptions, and judgments that affect the amounts reported in the financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. | ||||||||
The procedures for assessing the adequacy of the allowance for loan losses reflect our evaluation of credit risk after careful consideration of all information available to us. In developing this assessment, we must rely on estimates and exercise judgment regarding matters where the ultimate outcome is unknown, such as economic factors, developments affecting companies in specific industries and issues with respect to single borrowers. Depending on changes in circumstances, future assessments of credit risk may yield materially different results, which may require an increase or a decrease in the allowance for loan losses. | ||||||||
The valuation of other assets requires that management utilize a variety of estimates and analysis to determine whether an asset is impaired or other-than-temporarily impaired (“OTTI”). After determining the appropriate methodology for fair value measurement, management then evaluates whether or not declines in fair value below book value are temporary or other-than-temporary impairments. When the Company does not intend to sell a debt security, and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis, it recognizes the credit component of an other-than-temporary impairment of a debt security in earnings and the remaining portion in other comprehensive income. | ||||||||
Loans and Leases Receivable, Valuation, Policy [Policy Text Block] | ' | |||||||
Loans (including Loans Held for Sale): Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Management’s intent and view of the foreseeable future may change based on changes in business strategies, the economic environment, market conditions and the availability of government programs. Loans that are held for investment are reported at the principal balance outstanding, net of unearned interest, unamortized deferred loan fees and costs and the allowance for loan losses. Loans held for sale are carried at the lower of amortized cost or estimated fair value, determined on an aggregate basis for each type of loan. Net unrealized losses are recognized by charges to income. | ||||||||
Interest income is accrued based on the unpaid principal balance and includes amortization of net deferred loan fees and costs over the loan term. Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the credit is well secured and in process of collection. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not received for loans placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | ||||||||
When loans are transferred from held for investment to held for sale, specific reserves and allocated pooled reserves included in the allowance for loan and losses are reclassified to reduce the basis of the loans to the lower of cost or estimated fair value less cost to sell. | ||||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' | |||||||
Allowance for Loan Losses: The allowance for loan losses is a valuation allowance for probable but unconfirmed credit losses, increased by the provision for loan losses and decreased by charge-offs net of recoveries. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the required allowance balance based on past loan loss experience, augmented by additional estimates related to the nature and volume of the portfolio, information about specific borrower situations, estimated collateral values, economic conditions and other factors. | ||||||||
The allowance consists of both specific and general components. The specific component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the collateral value, or value of expected discounted cash flows of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is based on historical charge-off experience and expected loss given default derived from the Bank’s internal risk rating process. Management utilizes an average of a three year historical loss period. Management has the ability to adjust these loss rates by utilizing risk ratings based on current period trends. If current period trends differ either positively or negatively from the given weighted historical loss rates, adjustments can be made. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risking rating data. | ||||||||
Management also utilizes its assessment of general economic conditions, and other localized economic data to more fully support its loan loss estimates. General economic data may include: inflation rates, savings rates and national unemployment rates. Local data may include: unemployment rates, housing starts, real estate valuations, and other economic data specific to the Company’s market area. Though not specific to individual loans, these economic trends can have an impact on portfolio performance as a whole. | ||||||||
Uncollectibility is usually determined based on a pre-determined number of days delinquent in the case of consumer loans, or, in the case of commercial loans, is based on a combination of factors including delinquency, collateral and other legal considerations. Consumer loans are charged-off prior to 120 days of delinquency, but could be charged off earlier, depending on the individual circumstances. Mortgage loans are charged down prior to 180 days of delinquency, but could be charged off sooner, again, depending upon individual circumstance. Typically, loans collateralized by residential real estate are partially charged down to the estimated liquidation value, which is generally based on appraisal less costs to hold and liquidate. Commercial and commercial real estate loans are evaluated for impairment and typically reserved based on the results of the analysis, then subsequently charged down to a recoverable value when loan repayment is deemed to be collateral dependent. Loans can be partially charged down depending on a number of factors including: the remaining strength of the borrower and guarantor; the type and value of the collateral, and the ease of liquidating collateral; and whether or not collateral is brought onto the bank’s balance sheet via repossession. In the case of commercial and commercial real estate loans, charge-offs, partial or whole, take place when management determines that full collectability of principal balance is unlikely to occur. Subsequent recoveries, if any, are credited to the allowance. Management’s policies for determining impairment, reserves and charge-offs are reviewed and approved by the Board of Directors on an annual basis. | ||||||||
Troubled debt restructuring of loans is undertaken to improve the likelihood that the loan will be repaid in full under the modified terms in accordance with a reasonable repayment schedule. All modified loans are evaluated to determine whether the loans should be reported as a Troubled Debt Restructuring (“TDR”). A loan is a TDR when the Company, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower by modifying or renewing a loan that the Company would not otherwise consider. To make this determination, the Company must determine whether (a) the borrower is experiencing financial difficulties and (b) the Company granted the borrower a concession. This determination requires consideration of all of the facts and circumstances surrounding the modification. An overall general decline in the economy or some deterioration in a borrower’s financial condition does not automatically mean the borrower is experiencing financial difficulties. | ||||||||
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Weighted-average shares for basic and diluted earnings per share [Table Text Block] | ' | |||||||
Weighted-average shares for basic and diluted earnings per share are presented below. | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Weighted-average common shares outstanding (basic) | 7,192,350 | 7,192,350 | ||||||
Dilutive effect of assumed exercise of stock options | 52,366 | 30,974 | ||||||
Weighted-average common shares outstanding (diluted) | 7,244,716 | 7,223,144 | ||||||
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||||||
As of March 31, 2014: | |||||||||||||||||||||||||||||
The amortized cost and estimated fair values of securities available-for-sale were as follows (in thousands): | |||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||
Costs | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | 13,733 | $ | 25 | $ | -286 | $ | 13,472 | |||||||||||||||||||||
Corporate bonds | 6,152 | 38 | -49 | 6,141 | |||||||||||||||||||||||||
States and municipal obligations | 20,680 | 346 | -298 | 20,728 | |||||||||||||||||||||||||
Mortgage-backed securities | 37,522 | 757 | -166 | 38,113 | |||||||||||||||||||||||||
Total | $ | 78,087 | $ | 1,166 | $ | -799 | $ | 78,454 | |||||||||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||||||||||
The amortized cost and estimated fair values of securities available-for-sale were as follows (in thousands): | |||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||||||
Costs | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | 13,714 | $ | 16 | $ | -428 | $ | 13,302 | |||||||||||||||||||||
Corporate bonds | 6,187 | 42 | -61 | 6,168 | |||||||||||||||||||||||||
States and municipal obligations | 20,651 | 283 | -484 | 20,450 | |||||||||||||||||||||||||
Collateralized debt obligations | 1,916 | - | -940 | 976 | |||||||||||||||||||||||||
Mortgage-backed securities | 38,652 | 731 | -331 | 39,052 | |||||||||||||||||||||||||
Total | $ | 81,120 | $ | 1,072 | $ | -2,244 | $ | 79,948 | |||||||||||||||||||||
Schedule of Temporary Impairment Losses, Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||
The table below indicates the length of time individual securities have been in a continuous unrealized loss position at March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||
(Less than 12 months) | (12 months or longer) | Total | |||||||||||||||||||||||||||
Description of | Number of | Fair | Unrealized | Number of | Fair | Unrealized | Number of | Fair | Unrealized | ||||||||||||||||||||
securities | investments | value | losses | investments | value | losses | investments | value | losses | ||||||||||||||||||||
U.S. Government and agency obligations | 8 | $ | 7,364 | $ | 167 | 2 | $ | 2,431 | $ | 119 | 10 | $ | 9,795 | $ | 286 | ||||||||||||||
Corporate bonds | 5 | 1,891 | 24 | 3 | 1,403 | 25 | 8 | 3,294 | 49 | ||||||||||||||||||||
State and municipal obligations | 21 | 7,599 | 182 | 4 | 1,546 | 116 | 25 | 9,145 | 298 | ||||||||||||||||||||
Mortgage-backed securities and other | 6 | 4,474 | 77 | 2 | 2,103 | 89 | 8 | 6,577 | 166 | ||||||||||||||||||||
Total temporarily impaired securities | 40 | $ | 21,328 | $ | 450 | 11 | $ | 7,483 | $ | 349 | 51 | $ | 28,811 | $ | 799 | ||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
(Less than 12 months) | (12 months or longer) | Total | |||||||||||||||||||||||||||
Description of | Number of | Fair | Unrealized | Number of | Fair | Unrealized | Number of | Fair | Unrealized | ||||||||||||||||||||
securities | investments | value | losses | investments | value | losses | investments | value | losses | ||||||||||||||||||||
U.S. Government and agency obligations | 10 | $ | 10,680 | $ | 428 | - | $ | - | $ | - | 10 | $ | 10,680 | $ | 428 | ||||||||||||||
Corporate bonds | 5 | 2,141 | 38 | 2 | 883 | 23 | 7 | 3,024 | 61 | ||||||||||||||||||||
State and municipal obligations | 32 | 11,012 | 442 | 2 | 822 | 42 | 34 | 11,834 | 484 | ||||||||||||||||||||
Collateralized debt obligations | - | - | - | 1 | 976 | 940 | 1 | 976 | 940 | ||||||||||||||||||||
Mortgage-backed securities and other | 11 | 8,445 | 231 | 2 | 1,189 | 100 | 13 | 9,634 | 331 | ||||||||||||||||||||
Total temporarily impaired securities | 58 | $ | 32,278 | $ | 1,139 | 7 | $ | 3,870 | $ | 1,105 | 65 | $ | 36,148 | $ | 2,244 | ||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||
Due in one year or less | $ | 502 | $ | 504 | |||||||||||||||||||||||||
Due after one to five years | 10,733 | 10,774 | |||||||||||||||||||||||||||
Due after five to ten years | 19,201 | 19,105 | |||||||||||||||||||||||||||
Due after ten years | 10,129 | 9,958 | |||||||||||||||||||||||||||
Mortgage-backed and related securities | 37,522 | 38,113 | |||||||||||||||||||||||||||
Total | $ | 78,087 | $ | 78,454 | |||||||||||||||||||||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Receivables [Abstract] | ' | |||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||
At March 31, 2014 and December 31, 2013, loans were comprised of the following (in thousands): | ||||||||
March 31, | December 31, | |||||||
2014 | 2013 | |||||||
Commercial and industrial | $ | 110,886 | $ | 122,084 | ||||
Commercial real estate | 103,125 | 104,692 | ||||||
Residential real estate and home equity | 105,573 | 96,245 | ||||||
Consumer and credit card | 32,498 | 32,862 | ||||||
Subtotal | 352,082 | 355,883 | ||||||
Add: Net deferred loan origination fees | 164 | 165 | ||||||
Total loans receivable | $ | 352,246 | $ | 356,048 | ||||
Credit_Quality_Tables
Credit Quality (Tables) | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||
Credit Quality [Abstract] | ' | ||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The table below presents allowance for loan losses by loan portfolio. Commercial real estate includes real estate construction and land development loans (in thousands). | |||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||
Unallocated | Consumer and | Commercial and | Commercial | Residential Real | Total | ||||||||||||||||||
Credit Card | Industrial | Real Estate | Estate and | ||||||||||||||||||||
Home Equity | |||||||||||||||||||||||
Beginning balance | $ | - | $ | 301 | $ | 3,232 | $ | 2,974 | $ | 218 | $ | 6,725 | |||||||||||
Charge-offs | - | -46 | -1,193 | -159 | -14 | -1,412 | |||||||||||||||||
Recoveries | - | 31 | 4 | 84 | 10 | 129 | |||||||||||||||||
Provision | 173 | -40 | 30 | -127 | -36 | - | |||||||||||||||||
Transferred to loans held for sale | - | - | - | -97 | - | -97 | |||||||||||||||||
Ending balance | $ | 173 | $ | 246 | $ | 2,073 | $ | 2,675 | $ | 178 | $ | 5,345 | |||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | 966 | $ | 1,724 | $ | - | $ | 2,690 | |||||||||||
Collectively evaluated for impairment | 173 | 246 | 1,107 | 951 | 178 | 2,655 | |||||||||||||||||
Ending balance | $ | 173 | $ | 246 | $ | 2,073 | $ | 2,675 | $ | 178 | $ | 5,345 | |||||||||||
Loans | |||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | 3,730 | $ | 15,108 | $ | - | $ | 18,838 | |||||||||||
Collectively evaluated for impairment | - | 32,498 | 107,156 | 88,017 | 105,573 | 333,244 | |||||||||||||||||
Total | $ | - | $ | 32,498 | $ | 110,886 | $ | 103,125 | $ | 105,573 | $ | 352,082 | |||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||||||||||
Consumer and | Commercial and | Commercial | Residential Real | Total | |||||||||||||||||||
Credit Card | Industrial | Real Estate | Estate and | ||||||||||||||||||||
Home Equity | |||||||||||||||||||||||
Beginning balance | $ | 365 | $ | 1,621 | $ | 4,692 | $ | 204 | $ | 6,882 | |||||||||||||
Charge-offs | -39 | -64 | -102 | -42 | -247 | ||||||||||||||||||
Recoveries | 60 | 688 | 10 | 15 | 773 | ||||||||||||||||||
Provision | -99 | -659 | 124 | -16 | -650 | ||||||||||||||||||
Ending balance | $ | 287 | $ | 1,586 | $ | 4,724 | $ | 161 | $ | 6,758 | |||||||||||||
Individually evaluated for impairment | $ | - | $ | 737 | $ | 2,983 | $ | - | $ | 3,720 | |||||||||||||
Collectively evaluated for impairment | 287 | 849 | 1,741 | 161 | 3,038 | ||||||||||||||||||
Ending balance | $ | 287 | $ | 1,586 | $ | 4,724 | $ | 161 | $ | 6,758 | |||||||||||||
Loans | |||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 5,586 | $ | 20,980 | $ | - | $ | 26,566 | |||||||||||||
Collectively evaluated for impairment | 24,452 | 116,066 | 88,645 | 73,026 | 302,189 | ||||||||||||||||||
Total | $ | 24,452 | $ | 121,652 | $ | 109,625 | $ | 73,026 | $ | 328,755 | |||||||||||||
Recorded investment, unpaid balance and related allowance [Table Text Block] | ' | ||||||||||||||||||||||
The following presents by class, information related to the Company’s impaired loans as of March 31, 2014 and December 31, 2013 (in thousands). | |||||||||||||||||||||||
At March 31, 2014 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Year-to-date | Year-to-date | |||||||||||||||||||
Investment | Principal | Allowance | Average | Interest | |||||||||||||||||||
Balance | Recorded | Income | |||||||||||||||||||||
Investment | Recognized | ||||||||||||||||||||||
With No Related Allowance Recorded | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 1,698 | 1,698 | - | 1,434 | 19 | ||||||||||||||||||
Commercial Real Estate | 9,826 | 9,826 | - | 9,816 | 149 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
With Allowance Recorded | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 2,032 | 2,110 | 966 | 4,135 | 12 | ||||||||||||||||||
Commercial Real Estate | 5,282 | 5,282 | 1,724 | 5,495 | 73 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
Total | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 3,730 | 3,808 | 966 | 5,569 | 31 | ||||||||||||||||||
Commercial Real Estate | 15,108 | 15,108 | 1,724 | 15,311 | 222 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
Total | $ | 18,838 | $ | 18,916 | $ | 2,690 | $ | 20,880 | $ | 253 | |||||||||||||
At December 31, 2013 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Year-to-date | Year-to-date | |||||||||||||||||||
Investment | Principal | Allowance | Average | Interest | |||||||||||||||||||
Balance | Recorded | Income | |||||||||||||||||||||
Investment | Recognized | ||||||||||||||||||||||
With No Related Allowance Recorded | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 1,530 | 1,530 | - | 3,081 | 67 | ||||||||||||||||||
Commercial Real Estate | 9,892 | 11,788 | - | 10,005 | 615 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
With Allowance Recorded | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 5,691 | 5,833 | 2,304 | 2,686 | 196 | ||||||||||||||||||
Commercial Real Estate | 5,768 | 7,296 | 1,862 | 10,060 | 308 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
Total | |||||||||||||||||||||||
Consumer and Credit Card | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Commercial and Industrial | 7,221 | 7,363 | 2,304 | 5,767 | 263 | ||||||||||||||||||
Commercial Real Estate | 15,660 | 19,084 | 1,862 | 20,065 | 923 | ||||||||||||||||||
Residential RE and Home Equity | - | - | - | - | - | ||||||||||||||||||
Total | $ | 22,881 | $ | 26,447 | $ | 4,166 | $ | 25,832 | $ | 1,186 | |||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | ' | ||||||||||||||||||||||
Loans on nonaccrual status at March 31, 2014 and December 31, 2013 are as follows (in thousands): | |||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Consumer and credit card | $ | - | $ | - | |||||||||||||||||||
Commercial and industrial | 1,449 | 4,702 | |||||||||||||||||||||
Commercial real estate | 1,317 | 1,398 | |||||||||||||||||||||
Residential real estate and home equity | 511 | 352 | |||||||||||||||||||||
Total | $ | 3,277 | $ | 6,452 | |||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||
Corporate risk exposure by risk profile was as follows at March 31, 2014 (in thousands): | |||||||||||||||||||||||
Category | Commercial and | Commercial | |||||||||||||||||||||
Industrial | Real Estate | ||||||||||||||||||||||
Pass-1-4 | $ | 99,921 | $ | 85,073 | |||||||||||||||||||
Vulnerable-5 | 3,318 | 4,542 | |||||||||||||||||||||
Substandard-6 | 7,647 | 13,510 | |||||||||||||||||||||
Doubtful-7 | - | - | |||||||||||||||||||||
Loss-8 | - | - | |||||||||||||||||||||
Total | $ | 110,886 | $ | 103,125 | |||||||||||||||||||
Corporate risk exposure by risk profile was as follows at December 31, 2013: | |||||||||||||||||||||||
Category | Commercial and | Commercial | |||||||||||||||||||||
Industrial | Real Estate | ||||||||||||||||||||||
Pass-1-4 | $ | 111,266 | $ | 83,953 | |||||||||||||||||||
Vulnerable-5 | 2,574 | 4,785 | |||||||||||||||||||||
Substandard-6 | 8,244 | 15,954 | |||||||||||||||||||||
Doubtful-7 | - | - | |||||||||||||||||||||
Loss-8 | - | - | |||||||||||||||||||||
Total | $ | 122,084 | $ | 104,692 | |||||||||||||||||||
Consumer Risk [Table Text Block] | ' | ||||||||||||||||||||||
Consumer risk based on payment activity at March 31, 2014 is as follows (in thousands). | |||||||||||||||||||||||
Payment Category | Consumer and | Residential Real | |||||||||||||||||||||
Credit Card | Estate and | ||||||||||||||||||||||
Home Equity | |||||||||||||||||||||||
Performing | $ | 32,498 | $ | 105,062 | |||||||||||||||||||
Non-performing | - | 511 | |||||||||||||||||||||
Total | $ | 32,498 | $ | 105,573 | |||||||||||||||||||
Consumer risk based on payment activity at December 31, 2013 is as follows (in thousands). | |||||||||||||||||||||||
Payment Category | Consumer and | Residential Real | |||||||||||||||||||||
Credit Card | Estate and Home | ||||||||||||||||||||||
Equity | |||||||||||||||||||||||
Performing | $ | 32,862 | $ | 95,893 | |||||||||||||||||||
Non-Performing | - | 352 | |||||||||||||||||||||
Total | $ | 32,862 | $ | 96,245 | |||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents past due loans aged as of March 31, 2014 (in thousands). | |||||||||||||||||||||||
Category | 30-59 Days | 60-89 | 90 Days or | Total Past | Current | Total | Recorded | ||||||||||||||||
Past Due | Days | more Past | Due | Financing | Investment > | ||||||||||||||||||
Past Due | Due | Receivables | 90 days and | ||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Consumer and credit card | $ | 33 | $ | 67 | $ | - | $ | 100 | $ | 32,398 | $ | 32,498 | $ | - | |||||||||
Commercial and industrial | 180 | - | 751 | 931 | 109,955 | 110,886 | - | ||||||||||||||||
Commercial real estate | - | 63 | 484 | 547 | 102,578 | 103,125 | - | ||||||||||||||||
Residential real estate and home equity | 621 | 2 | 422 | 1,045 | 104,528 | 105,573 | - | ||||||||||||||||
Total | $ | 834 | $ | 132 | $ | 1,657 | $ | 2,623 | $ | 349,459 | $ | 352,082 | $ | - | |||||||||
The following table presents past due loans aged as of December 31, 2013 (in thousands). | |||||||||||||||||||||||
Category | 30-59 Days | 60-89 | Greater | Total | Current | Total Loans | Recorded | ||||||||||||||||
Past Due | Days | than 90 | Past Due | Investment > | |||||||||||||||||||
Past Due | Days Past | 90 days and | |||||||||||||||||||||
Due | Accruing | ||||||||||||||||||||||
Consumer and Credit Card | $ | 90 | $ | 92 | $ | - | $ | 182 | $ | 32,680 | $ | 32,862 | $ | - | |||||||||
Commercial and Industrial | 407 | - | 1,001 | 1,408 | 120,676 | 122,084 | - | ||||||||||||||||
Commercial Real Estate | 49 | - | 682 | 731 | 103,961 | 104,692 | - | ||||||||||||||||
Residential Real Estate and Home Equity | 374 | - | 321 | 892 | 95,353 | 96,245 | - | ||||||||||||||||
Total | $ | 920 | $ | 92 | $ | 2,004 | $ | 3,213 | $ | 352,670 | $ | 355,883 | $ | - | |||||||||
Schedule of Debtor Troubled Debt Restructuring, Current Period [Table Text Block] | ' | ||||||||||||||||||||||
Information regarding Troubled Debt Restructuring (“TDR”) loans for the three month period ended March 31, 2014 is as follows (in thousands): | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||
Number of | Recorded Investment | Number ofContracts | Recorded Investment | ||||||||||||||||||||
Contracts | (as of period end) | (as of period end) | |||||||||||||||||||||
Consumer and Credit Card | - | $ | - | - | $ | - | |||||||||||||||||
Commercial and Industrial | 2 | 58 | 3 | 2,230 | |||||||||||||||||||
Commercial Real Estate | - | - | - | - | |||||||||||||||||||
Residential Real Estate and Home Equity | - | - | - | - | |||||||||||||||||||
Total | 2 | $ | 58 | 3 | $ | 2,230 | |||||||||||||||||
The following presents by class loans modified in a TDR that subsequently defaulted within twelve months of the modification (i.e. 60 days or more past due) during the three month period ended March 31, 2014 and 2013 (in thousands). | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||
Number of | Recorded Investment | Number of | Recorded Investment | ||||||||||||||||||||
Contracts | as of period end (1) | Contracts | as of period end (1) | ||||||||||||||||||||
Consumer and Credit Card | - | $ | - | - | $ | - | |||||||||||||||||
Commercial and Industrial | - | - | - | - | |||||||||||||||||||
Commercial Real Estate | 3 | 520 | - | - | |||||||||||||||||||
Residential Real Estate and Home Equity | - | - | - | - | |||||||||||||||||||
Total | 3 | $ | 520 | - | $ | - | |||||||||||||||||
-1 | Period end balances are inclusive of all partial pay downs and charge-offs since the modification date. Loans modified in a TDR that were fully paid down, charged off, or foreclosed upon by period end are not reported. | ||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments are as follows (in thousands): | |||||||||||||||||
At March 31, 2014: | |||||||||||||||||
Carrying | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
Amount | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 25,485 | $ | 25,485 | $ | 25,485 | $ | - | $ | - | |||||||
Securities available-for-sale | 78,454 | 78,454 | - | 78,454 | - | ||||||||||||
Loans (net of allowance)(1) | 349,114 | 344,490 | - | - | 344,490 | ||||||||||||
FHLB stock | 3,250 | 3,250 | - | 3,250 | - | ||||||||||||
Accrued interest receivable | 1,561 | 1,561 | - | - | 1,561 | ||||||||||||
Financial liabilities | |||||||||||||||||
Noninterest-bearing deposits | $ | 104,615 | $ | 104,615 | - | $ | 104,615 | - | |||||||||
Interest-bearing deposits | 335,182 | 335,356 | - | 335,356 | - | ||||||||||||
FHLB advances | 4,831 | 4,831 | - | 4,831 | - | ||||||||||||
Accrued interest payable | 100 | 100 | - | - | 100 | ||||||||||||
At December 31, 2013: | |||||||||||||||||
Carrying | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
Amount | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 25,357 | $ | 25,357 | $ | 25,357 | $ | - | $ | - | |||||||
Securities available-for-sale | 79,948 | 79,948 | - | 78,972 | 976 | ||||||||||||
Loans (net of allowance)(1) | 357,130 | 348,295 | - | - | 348,295 | ||||||||||||
FHLB stock | 3,799 | 3,799 | 3,799 | - | |||||||||||||
Accrued interest receivable | 1,356 | 1,356 | - | - | 1,356 | ||||||||||||
Financial liabilities | |||||||||||||||||
Noninterest-bearing deposits(2) | $ | 116,847 | $ | 116,847 | - | $ | 116,847 | - | |||||||||
Interest-bearing deposits(2) | 336,719 | 337,590 | - | 337,590 | - | ||||||||||||
FHLB advances | 4,838 | 4,838 | - | 4,838 | - | ||||||||||||
Accrued interest payable | 112 | 112 | - | - | 112 | ||||||||||||
-1 | Includes loans held for sale | ||||||||||||||||
-2 | Includes deposits held for sale | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||
The following table presents the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
March 31, 2014 | Fair Value | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
U.S. Government and agency obligations | $ | 13,472 | $ | - | $ | 13,472 | $ | - | |||||||||
State and municipal obligations | 20,728 | - | 20,728 | - | |||||||||||||
Corporate bonds | 6,141 | - | 6,141 | - | |||||||||||||
Mortgage-backed securities and other | 38,113 | - | 38,113 | - | |||||||||||||
Total | $ | 78,454 | $ | - | $ | 78,454 | $ | - | |||||||||
Fair Value Measurements Using | |||||||||||||||||
December 31, 2013 | Fair Value | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
U.S. Government and agency obligations | $ | 13,302 | $ | - | $ | 13,302 | $ | - | |||||||||
State and municipal obligations | 20,450 | - | 20,450 | - | |||||||||||||
Corporate bonds | 6,168 | - | 6,168 | - | |||||||||||||
Collateralized debt obligation | 976 | - | 976 | ||||||||||||||
Mortgage-backed securities and other | 39,052 | - | 39,052 | - | |||||||||||||
Total | $ | 79,948 | $ | - | $ | 78,972 | $ | 976 | |||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||
The table below presents a rollforward of the balance sheet amounts for the quarter ended March 31, 2014 for the collateralized debt obligation measured on a recurring basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable inputs to the overall fair value measurement. | |||||||||||||||||
Level 3 Fair Value Measurements | |||||||||||||||||
Three months ended March 31, 2014 | |||||||||||||||||
Balance, as of December 31, 2013 | $ | 976 | |||||||||||||||
Sold during the quarter | 835 | ||||||||||||||||
Total losses: | |||||||||||||||||
Included in earnings | 141 | ||||||||||||||||
Balance, as of March 31, 2014 | $ | - | |||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | ' | ||||||||||||||||
The following table presents the fair value measurements of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2014 and December 31, 2013. | |||||||||||||||||
March 31, 2014 | Fair Value Measurements Using | ||||||||||||||||
Fair | Quoted Prices | Significant | Significant | ||||||||||||||
Value | in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans | $ | 18,838 | $ | - | $ | - | $ | 18,838 | |||||||||
Real estate owned | 1,563 | - | - | 1,563 | |||||||||||||
December 31, 2013 | Fair Value Measurements Using | ||||||||||||||||
FairValue | Quoted Prices | Significant | Significant | ||||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans | $ | 22,881 | - | - | $ | 22,881 | |||||||||||
Real estate owned | 1,219 | - | - | 1,219 | |||||||||||||
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||
A summary of the status of the Company’s equity compensation plan as of March 31, 2014, and changes during the period then ended are presented below (dollars in thousands): | ||||||||||||
Shares | Weighted | Weighted | Aggregate | |||||||||
Average Exercise | Average Remaining | Intrinsic | ||||||||||
Price | Contractual Life | Value | ||||||||||
Outstanding at beginning of year | 250,518 | $ | 9.91 | 6.4 years | ||||||||
Exercised | -1,833 | 3.82 | — | |||||||||
Forfeited | -5,702 | 20.68 | — | |||||||||
Outstanding at March 31, 2014 | 242,983 | $ | 9.96 | 6.2 years | $ | 355 | ||||||
Options exercisable at period end | 142,317 | $ | 13.76 | 4.9 years | $ | 170 | ||||||
Weighted-average fair value of options granted during the year ended December 31, 2013 | $ | 1.73 | ||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | |||||||||||
The following information applies to options outstanding at March 31, 2014: | ||||||||||||
Number Outstanding | Range Of Exercise Prices | |||||||||||
43,750 | $23.00 - $30.70 | |||||||||||
24,192 | $16.90 | |||||||||||
21,535 | $9.00 | |||||||||||
153,506 | $3.50 - $5.40 | |||||||||||
Branch_Sale_Tables
Branch Sale (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Branch Sale [Abstract] | ' | ||||
Schedule OF Amounts Related To Sale [Table Text Block] | ' | ||||
The amounts related to the sale are as follows (in thousands): | |||||
Deposits assumed | $ | 19,403 | |||
Loans sold (at book value) | -4,750 | ||||
Property and equipment (agreed upon value) | -1,500 | ||||
Cash on hand | -261 | ||||
Premium on deposits | -441 | ||||
Other, net | 13 | ||||
Cash paid to Merchants | $ | 12,464 | |||
Summary_Of_Significant_Account3
Summary Of Significant Accounting Policies (Details) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Weighted-average shares for basic and diluted earnings per share | ' | ' |
Weighted-average common shares outstanding (basic) | 7,192,350 | 7,192,350 |
Dilutive effect of assumed exercise of stock options | 52,366 | 30,974 |
Weighted-average common shares outstanding (diluted) | 7,244,716 | 7,223,144 |
Summary_Of_Significant_Account4
Summary Of Significant Accounting Policies (Details Textual) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Summary of Significant Accounting Policies (Textual) [Abstract] | ' | ' | ' |
Consumer Loans Charged Off Delinquency Period | '120 days | ' | ' |
Mortgage Loans Charge Off Delinquency Period | '180 days | ' | ' |
Vested shares in computation of common share equivalents | 153,506 | 28,918 | ' |
Interest Income On Mortgage And Commercial Loans | '90 years | ' | ' |
Common stock with a weighted-average exercise price | $9.96 | $16.46 | $9.91 |
Share Based Compensation Arrangement By Share Based Payment Award Options Available Number | ' | 122,437 | ' |
Securities_Details
Securities (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Fair values of securities available-for-sale | ' | ' |
Amortized Costs | $78,087 | $81,120 |
Gross Unrealized Gains | 1,166 | 1,072 |
Gross Unrealized Losses | -799 | -2,244 |
Fair Value | 78,454 | 79,948 |
U.S. Government and agency obligations [Member] | ' | ' |
Fair values of securities available-for-sale | ' | ' |
Amortized Costs | 13,733 | 13,714 |
Gross Unrealized Gains | 25 | 16 |
Gross Unrealized Losses | -286 | -428 |
Fair Value | 13,472 | 13,302 |
Corporate bonds [Member] | ' | ' |
Fair values of securities available-for-sale | ' | ' |
Amortized Costs | 6,152 | 6,187 |
Gross Unrealized Gains | 38 | 42 |
Gross Unrealized Losses | -49 | -61 |
Fair Value | 6,141 | 6,168 |
States and municipal obligations [Member] | ' | ' |
Fair values of securities available-for-sale | ' | ' |
Amortized Costs | 20,680 | 20,651 |
Gross Unrealized Gains | 346 | 283 |
Gross Unrealized Losses | -298 | -484 |
Fair Value | 20,728 | 20,450 |
Mortgage-backed securities [Member] | ' | ' |
Fair values of securities available-for-sale | ' | ' |
Amortized Costs | 37,522 | 38,652 |
Gross Unrealized Gains | 757 | 731 |
Gross Unrealized Losses | -166 | -331 |
Fair Value | 38,113 | 39,052 |
Collateralized debt obligations [Member] | ' | ' |
Fair values of securities available-for-sale | ' | ' |
Amortized Costs | ' | 1,916 |
Gross Unrealized Gains | ' | 0 |
Gross Unrealized Losses | ' | -940 |
Fair Value | ' | $976 |
Securities_Details_1
Securities (Details 1) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Unrealized loss | ' | ' |
Number of investments | 51 | 65 |
Fair value | $28,811 | $36,148 |
Unrealized losses | 799 | 2,244 |
Collateralized debt obligations [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | ' | 1 |
Fair value | ' | 976 |
Unrealized losses | ' | 940 |
Less than 12 months [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 40 | 58 |
Fair value | 21,328 | 32,278 |
Unrealized losses | 450 | 1,139 |
Less than 12 months [Member] | Collateralized debt obligations [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | ' | 0 |
Fair value | ' | 0 |
Unrealized losses | ' | 0 |
12 months or longer [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 11 | 7 |
Fair value | 7,483 | 3,870 |
Unrealized losses | 349 | 1,105 |
12 months or longer [Member] | Collateralized debt obligations [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | ' | 1 |
Fair value | ' | 976 |
Unrealized losses | ' | 940 |
U.S. Government and agency obligations [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 10 | 10 |
Fair value | 9,795 | 10,680 |
Unrealized losses | 286 | 428 |
U.S. Government and agency obligations [Member] | Less than 12 months [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 8 | 10 |
Fair value | 7,364 | 10,680 |
Unrealized losses | 167 | 428 |
U.S. Government and agency obligations [Member] | 12 months or longer [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 2 | 0 |
Fair value | 2,431 | 0 |
Unrealized losses | 119 | 0 |
Corporate bonds [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 8 | 7 |
Fair value | 3,294 | 3,024 |
Unrealized losses | 49 | 61 |
Corporate bonds [Member] | Less than 12 months [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 5 | 5 |
Fair value | 1,891 | 2,141 |
Unrealized losses | 24 | 38 |
Corporate bonds [Member] | 12 months or longer [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 3 | 2 |
Fair value | 1,403 | 883 |
Unrealized losses | 25 | 23 |
State and municipal obligations [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 25 | 34 |
Fair value | 9,145 | 11,834 |
Unrealized losses | 298 | 484 |
State and municipal obligations [Member] | Less than 12 months [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 21 | 32 |
Fair value | 7,599 | 11,012 |
Unrealized losses | 182 | 442 |
State and municipal obligations [Member] | 12 months or longer [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 4 | 2 |
Fair value | 1,546 | 822 |
Unrealized losses | 116 | 42 |
Mortgage-backed securities and other [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 8 | 13 |
Fair value | 6,577 | 9,634 |
Unrealized losses | 166 | 331 |
Mortgage-backed securities and other [Member] | Less than 12 months [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 6 | 11 |
Fair value | 4,474 | 8,445 |
Unrealized losses | 77 | 231 |
Mortgage-backed securities and other [Member] | 12 months or longer [Member] | ' | ' |
Unrealized loss | ' | ' |
Number of investments | 2 | 2 |
Fair value | 2,103 | 1,189 |
Unrealized losses | $89 | $100 |
Securities_Details_2
Securities (Details 2) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Amortized cost and estimated fair value of all debt securities | ' |
Available-for-sale, Amortized Cost, Due in one year or less | $502 |
Available-for-sale, Amortized Cost, Due after one to five years | 10,733 |
Available-for-sale, Amortized Cost, Due after five to ten years | 19,201 |
Available-for-sale, Amortized Cost, Due after ten years | 10,129 |
Available-for-sale, Amortized Cost, Mortgage-backed and related securities | 37,522 |
Available-for-sale, Amortized Cost, Total | 78,087 |
Available-for-sale, Fair Value, Due in one year or less | 504 |
Available-for-sale, Fair Value, Due after one to five years | 10,774 |
Available-for-sale, Fair Value, Due after five to ten years | 19,105 |
Available-for-sale, Fair Value, Fair value, Due after ten years | 9,958 |
Available-for-sale, Fair Value, Mortgage-backed and related securities | 38,113 |
Available-for-sale, Fair Value, Total | $78,454 |
Securities_Details_Textual
Securities (Details Textual) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 17, 2014 | |
Securities (Textual) [Abstract] | ' | ' |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $1,100,000 | ' |
Investment From Same Issuer As Percentage Of Equity Maximum | 10.00% | ' |
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value, Total | 65,900,000 | ' |
Debt and Capital Lease Obligations, Total | ' | $141,000 |
Loans_Details
Loans (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans | ' | ' |
Commercial and industrial | $110,886 | $122,084 |
Commercial real estate | 103,125 | 104,692 |
Residential real estate and home equity | 105,573 | 96,245 |
Consumer and credit card | 32,498 | 32,862 |
Subtotal | 352,082 | 355,883 |
Add: Net deferred loan origination fees | 164 | 165 |
Total loans receivable | $352,246 | $356,048 |
Credit_Quality_Details
Credit Quality (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | $6,724 | $6,882 |
Charge-offs | -1,412 | -247 |
Recoveries | 129 | 773 |
Provision | 0 | -650 |
Transferred to loans held for sale | -97 | ' |
Ending balance | 5,345 | 6,758 |
Individually evaluated for impairment | 2,690 | 3,720 |
Collectively evaluated for impairment | 2,655 | 3,038 |
Ending balance | 5,345 | 6,758 |
Loans | ' | ' |
Individually evaluated for impairment | 18,838 | 26,566 |
Collectively evaluated for impairment | 333,244 | 302,189 |
Total | 352,082 | 328,755 |
Consumer and Credit Card [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 301 | 365 |
Charge-offs | -46 | -39 |
Recoveries | 31 | 60 |
Provision | -40 | -99 |
Transferred to loans held for sale | 0 | ' |
Ending balance | 246 | 287 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 246 | 287 |
Ending balance | 246 | 287 |
Loans | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 32,498 | 24,452 |
Total | 32,498 | 24,452 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 3,232 | 1,621 |
Charge-offs | -1,193 | -64 |
Recoveries | 4 | 688 |
Provision | 30 | -659 |
Transferred to loans held for sale | 0 | ' |
Ending balance | 2,073 | 1,586 |
Individually evaluated for impairment | 966 | 737 |
Collectively evaluated for impairment | 1,107 | 849 |
Ending balance | 2,073 | 1,586 |
Loans | ' | ' |
Individually evaluated for impairment | 3,730 | 5,586 |
Collectively evaluated for impairment | 107,156 | 116,066 |
Total | 110,886 | 121,652 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 2,974 | 4,692 |
Charge-offs | -159 | -102 |
Recoveries | 84 | 10 |
Provision | -127 | 124 |
Transferred to loans held for sale | -97 | ' |
Ending balance | 2,675 | 4,724 |
Individually evaluated for impairment | 1,724 | 2,983 |
Collectively evaluated for impairment | 951 | 1,741 |
Ending balance | 2,675 | 4,724 |
Loans | ' | ' |
Individually evaluated for impairment | 15,108 | 20,980 |
Collectively evaluated for impairment | 88,017 | 88,645 |
Total | 103,125 | 109,625 |
Residential Real Estate and Home Equity [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 218 | 204 |
Charge-offs | -14 | -42 |
Recoveries | 10 | 15 |
Provision | -36 | -16 |
Transferred to loans held for sale | 0 | ' |
Ending balance | 178 | 161 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 178 | 161 |
Ending balance | 178 | 161 |
Loans | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 105,573 | 73,026 |
Total | 105,573 | 73,026 |
Unallocated Financing Receivables [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Beginning balance | 0 | ' |
Charge-offs | 0 | ' |
Recoveries | 0 | ' |
Provision | 173 | ' |
Transferred to loans held for sale | 0 | ' |
Ending balance | 173 | ' |
Individually evaluated for impairment | 0 | ' |
Collectively evaluated for impairment | 173 | ' |
Ending balance | 173 | ' |
Loans | ' | ' |
Individually evaluated for impairment | 0 | ' |
Collectively evaluated for impairment | 0 | ' |
Total | $0 | ' |
Credit_Quality_Details_1
Credit Quality (Details 1) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Impaired Loans | ' | ' |
Recorded Investment | $18,838 | $22,881 |
Unpaid Principal Balance | 18,916 | 26,447 |
Related Allowance | 2,690 | 4,166 |
Average Recorded Investment | 20,880 | 25,832 |
Interest Income Recognized | 253 | 1,186 |
Consumer and Credit Card [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Commercial and industrial [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 3,730 | 7,221 |
Unpaid Principal Balance | 3,808 | 7,363 |
Related Allowance | 966 | 2,304 |
Average Recorded Investment | 5,569 | 5,767 |
Interest Income Recognized | 31 | 263 |
Commercial real estate [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 15,108 | 15,660 |
Unpaid Principal Balance | 15,108 | 19,084 |
Related Allowance | 1,724 | 1,862 |
Average Recorded Investment | 15,311 | 20,065 |
Interest Income Recognized | 222 | 923 |
Residential RE and Home Equity [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
With no related allowance recorded [Member] | Consumer and Credit Card [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
With no related allowance recorded [Member] | Commercial and industrial [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 1,698 | 1,530 |
Unpaid Principal Balance | 1,698 | 1,530 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,434 | 3,081 |
Interest Income Recognized | 19 | 67 |
With no related allowance recorded [Member] | Commercial real estate [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 9,826 | 9,892 |
Unpaid Principal Balance | 9,826 | 11,788 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 9,816 | 10,005 |
Interest Income Recognized | 149 | 615 |
With no related allowance recorded [Member] | Residential RE and Home Equity [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
With allowance recorded [Member] | Consumer and Credit Card [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
With allowance recorded [Member] | Commercial and industrial [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 2,032 | 5,691 |
Unpaid Principal Balance | 2,110 | 5,833 |
Related Allowance | 966 | 2,304 |
Average Recorded Investment | 4,135 | 2,686 |
Interest Income Recognized | 12 | 196 |
With allowance recorded [Member] | Commercial real estate [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 5,282 | 5,768 |
Unpaid Principal Balance | 5,282 | 7,296 |
Related Allowance | 1,724 | 1,862 |
Average Recorded Investment | 5,495 | 10,060 |
Interest Income Recognized | 73 | 308 |
With allowance recorded [Member] | Residential RE and Home Equity [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | $0 | $0 |
Credit_Quality_Details_2
Credit Quality (Details 2) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans on nonaccrual status | ' | ' |
Loans on nonaccrual status | $3,277 | $6,452 |
Consumer and credit card [Member] | ' | ' |
Loans on nonaccrual status | ' | ' |
Loans on nonaccrual status | 0 | 0 |
Commercial and industrial [Member] | ' | ' |
Loans on nonaccrual status | ' | ' |
Loans on nonaccrual status | 1,449 | 4,702 |
Commercial real estate [Member] | ' | ' |
Loans on nonaccrual status | ' | ' |
Loans on nonaccrual status | 1,317 | 1,398 |
Residential real estate and home equity [Member] | ' | ' |
Loans on nonaccrual status | ' | ' |
Loans on nonaccrual status | $511 | $352 |
Credit_Quality_Details_3
Credit Quality (Details 3) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Credit Quality Indicators | ' | ' |
Loans | $352,246 | $356,048 |
Commercial and Industrial [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 110,886 | 122,084 |
Commercial and Industrial [Member] | Pass-1-4 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 99,921 | 111,266 |
Commercial and Industrial [Member] | Vulnerable-5 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 3,318 | 2,574 |
Commercial and Industrial [Member] | Substandard-6 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 7,647 | 8,244 |
Commercial and Industrial [Member] | Doubtful-7 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 0 | 0 |
Commercial and Industrial [Member] | Loss-8 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 0 | 0 |
Commercial Real Estate [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 103,125 | 104,692 |
Commercial Real Estate [Member] | Pass-1-4 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 85,073 | 83,953 |
Commercial Real Estate [Member] | Vulnerable-5 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 4,542 | 4,785 |
Commercial Real Estate [Member] | Substandard-6 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 13,510 | 15,954 |
Commercial Real Estate [Member] | Doubtful-7 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | 0 | 0 |
Commercial Real Estate [Member] | Loss-8 [Member] | ' | ' |
Credit Quality Indicators | ' | ' |
Loans | $0 | $0 |
Credit_Quality_Details_4
Credit Quality (Details 4) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Consumer Risk | ' | ' |
Consumer risk based on payment activity | $352,246 | $356,048 |
Consumer and Credit Card [Member] | ' | ' |
Consumer Risk | ' | ' |
Consumer risk based on payment activity | 32,498 | 32,862 |
Consumer and Credit Card [Member] | Performing [Member] | ' | ' |
Consumer Risk | ' | ' |
Consumer risk based on payment activity | 32,498 | 32,862 |
Consumer and Credit Card [Member] | Non-Performing [Member] | ' | ' |
Consumer Risk | ' | ' |
Consumer risk based on payment activity | 0 | 0 |
Residential real estate and home equity [Member] | ' | ' |
Consumer Risk | ' | ' |
Consumer risk based on payment activity | 105,573 | 96,245 |
Residential real estate and home equity [Member] | Performing [Member] | ' | ' |
Consumer Risk | ' | ' |
Consumer risk based on payment activity | 105,062 | 95,893 |
Residential real estate and home equity [Member] | Non-Performing [Member] | ' | ' |
Consumer Risk | ' | ' |
Consumer risk based on payment activity | $511 | $352 |
Credit_Quality_Details_5
Credit Quality (Details 5) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Age analysis of past due loans | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $834 | $920 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 132 | 92 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 1,657 | 2,004 |
Financing Receivable, Recorded Investment, Total Past Due | 2,623 | 3,213 |
Financing Receivable, Recorded Investment, Current | 349,459 | 352,670 |
Financing Receivable, Recorded Investment, Subtotal | 352,082 | 355,883 |
Recorded Investment greater than 90 days and Accruing | 0 | 0 |
Consumer and Credit Card [Member] | ' | ' |
Age analysis of past due loans | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 33 | 90 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 67 | 92 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Total Past Due | 100 | 182 |
Financing Receivable, Recorded Investment, Current | 32,398 | 32,680 |
Financing Receivable, Recorded Investment, Subtotal | 32,498 | 32,862 |
Recorded Investment greater than 90 days and Accruing | 0 | 0 |
Commercial and Industrial [Member] | ' | ' |
Age analysis of past due loans | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 180 | 407 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 751 | 1,001 |
Financing Receivable, Recorded Investment, Total Past Due | 931 | 1,408 |
Financing Receivable, Recorded Investment, Current | 109,955 | 120,676 |
Financing Receivable, Recorded Investment, Subtotal | 110,886 | 122,084 |
Recorded Investment greater than 90 days and Accruing | 0 | 0 |
Commercial Real Estate [Member] | ' | ' |
Age analysis of past due loans | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 49 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 63 | 0 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 484 | 682 |
Financing Receivable, Recorded Investment, Total Past Due | 547 | 731 |
Financing Receivable, Recorded Investment, Current | 102,578 | 103,961 |
Financing Receivable, Recorded Investment, Subtotal | 103,125 | 104,692 |
Recorded Investment greater than 90 days and Accruing | 0 | 0 |
Residential real estate and home equity [Member] | ' | ' |
Age analysis of past due loans | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 621 | 374 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 2 | 0 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 422 | 321 |
Financing Receivable, Recorded Investment, Total Past Due | 1,045 | 892 |
Financing Receivable, Recorded Investment, Current | 104,528 | 95,353 |
Financing Receivable, Recorded Investment, Subtotal | 105,573 | 96,245 |
Recorded Investment greater than 90 days and Accruing | $0 | $0 |
Credit_Quality_Details_6
Credit Quality (Details 6) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Troubled Debt Restructurings | ' | ' | ||
Number of Contracts | 2 | 3 | ||
Post-modification outstanding recorded investment | $58 | $2,230 | ||
Number of Contracts modified | 3 | 0 | ||
Post-modification outstanding recorded investment | 520 | [1] | 0 | [1] |
Consumer and credit card [Member] | ' | ' | ||
Troubled Debt Restructurings | ' | ' | ||
Number of Contracts | 0 | 0 | ||
Post-modification outstanding recorded investment | 0 | 0 | ||
Number of Contracts modified | 0 | 0 | ||
Post-modification outstanding recorded investment | 0 | [1] | 0 | [1] |
Commercial and industrial [Member] | ' | ' | ||
Troubled Debt Restructurings | ' | ' | ||
Number of Contracts | 2 | 3 | ||
Post-modification outstanding recorded investment | 58 | 2,230 | ||
Number of Contracts modified | 0 | 0 | ||
Post-modification outstanding recorded investment | 0 | [1] | 0 | [1] |
Commercial Real Estate [Member] | ' | ' | ||
Troubled Debt Restructurings | ' | ' | ||
Number of Contracts | 0 | 0 | ||
Post-modification outstanding recorded investment | 0 | 0 | ||
Number of Contracts modified | 3 | 0 | ||
Post-modification outstanding recorded investment | 520 | [1] | 0 | [1] |
Residential real estate and home equity [Member] | ' | ' | ||
Troubled Debt Restructurings | ' | ' | ||
Number of Contracts | 0 | 0 | ||
Post-modification outstanding recorded investment | 0 | 0 | ||
Number of Contracts modified | 0 | 0 | ||
Post-modification outstanding recorded investment | $0 | [1] | $0 | [1] |
[1] | Period end balances are inclusive of all partial pay downs and charge-offs since the modification date. Loans modified in a TDR that were fully paid down, charged off, or foreclosed upon by period end are not reported. |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||||
Financial assets | ' | ' | ' | ' | ||
Cash and cash equivalents, Carrying amount | $25,485 | $25,357 | $54,283 | $63,307 | ||
Securities available-for-sale, Carrying amount | 78,454 | 79,948 | ' | ' | ||
Loans (net of allowance), Carrying amount | 346,901 | 349,324 | ' | ' | ||
FHLB stock, Carrying amount | 3,250 | 3,799 | ' | ' | ||
Financial liabilities | ' | ' | ' | ' | ||
Noninterest-bearing deposits, Carrying amount | 104,615 | 109,622 | ' | ' | ||
Interest-bearing deposits, Carrying amount | 335,182 | 317,237 | ' | ' | ||
FHLB advances, Carrying amount | 4,831 | 4,838 | ' | ' | ||
Level 1 [Member] | ' | ' | ' | ' | ||
Financial assets | ' | ' | ' | ' | ||
Cash and cash equivalents, Fair value | 25,485 | 25,357 | ' | ' | ||
Securities available-for-sale, Carrying amount | 0 | 0 | ' | ' | ||
Level 2 [Member] | ' | ' | ' | ' | ||
Financial assets | ' | ' | ' | ' | ||
Securities available-for-sale, Carrying amount | 78,454 | 78,972 | ' | ' | ||
Securities available-for-sale, Fair value | 78,454 | 78,972 | ' | ' | ||
FHLB stock, Fair value | 3,250 | 3,799 | ' | ' | ||
Financial liabilities | ' | ' | ' | ' | ||
Noninterest-bearing deposits, Fair value | 104,615 | 116,847 | [1] | ' | ' | |
Interest-bearing deposits, Fair value | 335,356 | 337,590 | [1] | ' | ' | |
FHLB advances, Fair value | 4,831 | 4,838 | ' | ' | ||
Level 3 [Member] | ' | ' | ' | ' | ||
Financial assets | ' | ' | ' | ' | ||
Securities available-for-sale, Carrying amount | 0 | 976 | ' | ' | ||
Securities available-for-sale, Fair value | ' | 976 | ' | ' | ||
Loans (net of allowance), Fair value | 344,490 | [2] | 348,295 | [2] | ' | ' |
Accrued interest receivable, Fair value | 1,561 | 1,356 | ' | ' | ||
Financial liabilities | ' | ' | ' | ' | ||
Accrued interest payable, Fair value | 100 | 112 | ' | ' | ||
Carrying amount [Member] | ' | ' | ' | ' | ||
Financial assets | ' | ' | ' | ' | ||
Cash and cash equivalents, Carrying amount | 25,485 | 25,357 | ' | ' | ||
Securities available-for-sale, Carrying amount | 78,454 | 79,948 | ' | ' | ||
Loans (net of allowance), Carrying amount | 349,114 | [2] | 357,130 | [2] | ' | ' |
FHLB stock, Carrying amount | 3,250 | 3,799 | ' | ' | ||
Accrued interest receivable, Carrying amount | 1,561 | 1,356 | ' | ' | ||
Financial liabilities | ' | ' | ' | ' | ||
Noninterest-bearing deposits, Carrying amount | 104,615 | 116,847 | [1] | ' | ' | |
Interest-bearing deposits, Carrying amount | 335,182 | 336,719 | [1] | ' | ' | |
FHLB advances, Carrying amount | 4,831 | 4,838 | ' | ' | ||
Accrued interest payable, Carrying Amount | 100 | 112 | ' | ' | ||
Fair value [Member] | ' | ' | ' | ' | ||
Financial assets | ' | ' | ' | ' | ||
Cash and cash equivalents, Fair value | 25,485 | 25,357 | ' | ' | ||
Securities available-for-sale, Fair value | 78,454 | 79,948 | ' | ' | ||
Loans (net of allowance), Fair value | 344,490 | [2] | 348,295 | [2] | ' | ' |
FHLB stock, Fair value | 3,250 | 3,799 | ' | ' | ||
Accrued interest receivable, Fair value | 1,561 | 1,356 | ' | ' | ||
Financial liabilities | ' | ' | ' | ' | ||
Noninterest-bearing deposits, Fair value | 104,615 | 116,847 | [1] | ' | ' | |
Interest-bearing deposits, Fair value | 335,356 | 337,590 | [1] | ' | ' | |
FHLB advances, Fair value | 4,831 | 4,838 | ' | ' | ||
Accrued interest payable, Fair value | $100 | $112 | ' | ' | ||
[1] | Includes deposits held for sale | |||||
[2] | Includes loans held for sale |
Fair_Value_Measurements_Detail1
Fair Value Measurements (Details 1) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | $78,454 | $79,948 |
State and municipal obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 20,728 | 20,450 |
Corporate bonds [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 6,141 | 6,168 |
Mortgage-backed securities and other [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 38,113 | 39,052 |
Collateralized debt obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | ' | 976 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | U.S. Government and agency obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | State and municipal obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Corporate bonds [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Mortgage-backed securities and other [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Significant Other Observable Inputs, Level 2 [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 78,454 | 78,972 |
Significant Other Observable Inputs, Level 2 [Member] | U.S. Government and agency obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 13,472 | 13,302 |
Significant Other Observable Inputs, Level 2 [Member] | State and municipal obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 20,728 | 20,450 |
Significant Other Observable Inputs, Level 2 [Member] | Corporate bonds [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 6,141 | 6,168 |
Significant Other Observable Inputs, Level 2 [Member] | Mortgage-backed securities and other [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 38,113 | 39,052 |
Significant Other Observable Inputs, Level 2 [Member] | Collateralized debt obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | ' | 0 |
Significant Unobservable Inputs, Level 3 [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 976 |
Significant Unobservable Inputs, Level 3 [Member] | U.S. Government and agency obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | State and municipal obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | Corporate bonds [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | Mortgage-backed securities and other [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 0 | 0 |
Significant Unobservable Inputs, Level 3 [Member] | Collateralized debt obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | ' | 976 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 78,454 | 79,948 |
Fair Value, Measurements, Recurring [Member] | U.S. Government and agency obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 13,472 | 13,302 |
Fair Value, Measurements, Recurring [Member] | State and municipal obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 20,728 | 20,450 |
Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 6,141 | 6,168 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities and other [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | 38,113 | 39,052 |
Fair Value, Measurements, Recurring [Member] | Collateralized debt obligations [Member] | ' | ' |
Fair value measurements of assets recurring basis | ' | ' |
Securities available-for-sale | ' | $976 |
Fair_Value_Measurements_Detail2
Fair Value Measurements (Details 2) (Fair Value, Inputs, Level 3 [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Fair Value, Inputs, Level 3 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Balance, as of December 31, 2013 | $976 |
Sold during the quarter | 835 |
Total losses: | ' |
Included in earnings | 141 |
Balance, as of March 31, 2014 | $0 |
Fair_Value_Measurements_Detail3
Fair Value Measurements (Details 3) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Impaired loans [Member] | Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | ' | ' |
Fair value measurements of assets nonrecurring basis | ' | ' |
Securities held-to-maturity, Fair Value | $0 | $0 |
Impaired loans [Member] | Significant Other Observable Inputs, Level 2 [Member] | ' | ' |
Fair value measurements of assets nonrecurring basis | ' | ' |
Securities held-to-maturity, Fair Value | 0 | 0 |
Impaired loans [Member] | Significant Unobservable Inputs, Level 3 [Member] | ' | ' |
Fair value measurements of assets nonrecurring basis | ' | ' |
Securities held-to-maturity, Fair Value | 18,838 | 22,881 |
Impaired loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair value measurements of assets nonrecurring basis | ' | ' |
Securities held-to-maturity, Fair Value | 18,838 | 22,881 |
Real estate owned [Member] | Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | ' | ' |
Fair value measurements of assets nonrecurring basis | ' | ' |
Securities held-to-maturity, Fair Value | 0 | 0 |
Real estate owned [Member] | Significant Other Observable Inputs, Level 2 [Member] | ' | ' |
Fair value measurements of assets nonrecurring basis | ' | ' |
Securities held-to-maturity, Fair Value | 0 | 0 |
Real estate owned [Member] | Significant Unobservable Inputs, Level 3 [Member] | ' | ' |
Fair value measurements of assets nonrecurring basis | ' | ' |
Securities held-to-maturity, Fair Value | 1,563 | 1,219 |
Real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair value measurements of assets nonrecurring basis | ' | ' |
Securities held-to-maturity, Fair Value | $1,563 | $1,219 |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Summary of stock option plan | ' | ' |
Outstanding at beginning of year, Shares | 250,518 | ' |
Exercised, Shares | -1,833 | ' |
Forfeited, Shares | -5,702 | ' |
Outstanding at end of year, Shares | 242,983 | ' |
Options exercisable at period end, Shares | 142,317 | ' |
Outstanding at beginning of year, Weighted Average Exercise Price | $9.91 | $16.46 |
Exercised, Weighted Average Exercise Price | $3.82 | ' |
Forfeited, Weighted Average Exercise Price | $20.68 | ' |
Outstanding at end of period, Weighted Average Exercise Price | $9.96 | $16.46 |
Options exercisable at year end, Weighted Average Exercise Price | $13.76 | ' |
Weighted-average fair value of options granted | $1.73 | ' |
Outstanding at beginning of year, Weighted Average Remaining Contractual Life | '6 years 4 months 24 days | ' |
Outstanding at end of period, Weighted Average Remaining Contractual Life | '6 years 2 months 12 days | ' |
Options exercisable at period end, Weighted Average Remaining Contractual Life | '4 years 10 months 24 days | ' |
Outstanding at Ending of year, Aggregate Intrinsic Value | $355 | ' |
Option exercisable at period end, Aggregate Intrinsic value | $170 | ' |
Stock_Based_Compensation_Detai1
Stock Based Compensation (Details 1) (USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 |
Range One [Member] | ' |
Stock options outstanding | ' |
Number Outstanding | 43,750 |
Exercise Prices, Lower Range | $23 |
Exercise Prices, Higher Range | $30.70 |
Range Two [Member] | ' |
Stock options outstanding | ' |
Number Outstanding | 24,192 |
Range Of Exercise Prices | $16.90 |
Range Three [Member] | ' |
Stock options outstanding | ' |
Number Outstanding | 21,535 |
Range Of Exercise Prices | $9 |
Range Four [Member] | ' |
Stock options outstanding | ' |
Number Outstanding | 153,506 |
Exercise Prices, Lower Range | $3.50 |
Exercise Prices, Higher Range | $5.40 |
Stock_Based_Compensation_Detai2
Stock Based Compensation (Details Textual) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Stock Based Compensation (Textual) [Abstract] | ' | ' |
Employee share option plan | 300,000 | ' |
Employee share option plan granted | 20.00% | ' |
Expected life | '8 years | ' |
Expected common stock price volatility | 30.00% | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $178,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | $60,000 | $79,000 |
Fair Value Assumptions, Expected Dividend Rate | 0.00% | ' |
Plan 2004 [Member] | ' | ' |
Stock Based Compensation (Textual) [Abstract] | ' | ' |
Shares Granted | 142,317 | ' |
Branch_Sale_Details
Branch Sale (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits assumed | $439,797 | $426,859 |
Property and equipment (agreed upon value) | -10,407 | -10,641 |
Branch Sale [Member] | ' | ' |
Deposits assumed | 19,403 | ' |
Loans sold (at book value) | -4,750 | ' |
Property and equipment (agreed upon value) | -1,500 | ' |
Cash on hand | -261 | ' |
Premium on deposits | -441 | ' |
Other, net | 13 | ' |
Cash paid to Merchants | $12,464 | ' |
Branch_Sale_Details_Textual
Branch Sale (Details Textual) (USD $) | Mar. 21, 2014 |
In Millions, unless otherwise specified | |
Deposits Liabilities | $19.40 |
Loans Purchase | $4.80 |